ISSEY1413 personal page - To The Moon

ISSEY1413

ISSEY1413

Profile：Be like Water 空手套白狼

234Follow

221Followers

8Topic

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2023-10-25

Uuiii[Cool] [Cool] [Anger] [Surprised] [Surprised] [Tongue] [Tongue] [Grin] [What] [What] [Tongue] [Grin] [Grin] [Grin] [Grin] [Tongue] [Tongue] [Cool] [Cry]

2023-08-30

[Look back] [Look back] Join me? TEAMd9e27e7d68a0e6c5 [Observation]

2023-04-08

Okayyyuuuu[LOL] [LOL] [LOL] [LOL] [LOL] [LOL]

2023-04-07

Oka amazinggggg[Miser] [Miser] [Miser] [Miser]

2023-04-06

[Tongue] [Grin] [Grin] [Grin] [Grin] [Grin] [Surprised]

2023-04-05

[Anger] [Tongue] [Grin] [Surprised] [Cry] [Cry]

2023-04-04

Omg. So fun[Cool] [Cool] [Cool] [Cool] [Cool] [Cool]

2023-04-04

Leggo participate

@TigerEvents:【Game】Easter Egg Hunting with Tiger, Win Disney Shares and USD 120 Voucher

2023-03-11

Ok

@qingg123:$Faraday Future Intelligent Electric Inc.(FFIE)$ FF plans to hold a special meeting for its shareholders at the end of this month to announce plans to issue an additional 50 million to existing shareholders, which means we are already over 700 million! That's enough money to push this baby to the moon.

2023-02-24

[Duh] [Duh] [Duh] [Duh]

Sorry, the original content has been removed

2023-02-21

[Surprised] [Surprised] [Surprised]

Sorry, the original content has been removed

2023-02-08

[Surprised] [Surprised] [Surprised] [Surprised]

Palantir: Even Though Explosive Growth Is Over, Rebound Potential Is Vast

2023-01-26

[Surprised] [Surprised] [Surprised] [Surprised]

Elon Musk Expects Tesla’s Main Rival Will Be a Chinese EV Maker

2023-01-25

[Surprised] [Surprised] [Surprised]

Will Coinbase Be a Trillion-Dollar Company by 2040?

2022-12-29

[Anger] [Anger] [Anger] [Anger]

Tesla: A Generational Buying Opportunity

2022-12-09

[Miser] [Miser] [Miser] [Miser] [Miser]

Alibaba: International Expansion And Domestic Success

2022-11-30

[Great] [Great] [Great] [Great] [Great]

Alibaba: Candidate For The Record Book Of Mispriced Stocks

2022-11-23

[Miser] [Miser] [Miser]

UP Fintech Posts US$55.41 Million for 2022 Q3 Revenue

2022-11-20

[Miser] [Miser] [Miser]

Alphabet Vs. Meta Platforms: Which Stock Is The Better Investment?

2022-11-14

Bababababababababababbabababababa

Alibaba Stock Primed for Rebound on Sales Recovery

Go to Tiger App to see more news

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Many of last year&#39;s deepest-hit growth stocks are up double digits already this year almost entirely on sentiment; while earnings season has yet to play out for most of these names.</p><p>My short answer here: no, it&#39;s not too late - and stock selection remains of the utmost importance. That&#39;s why I&#39;m doubling down here on Palantir (NYSE:PLTR), the big data giant known for its close association with the U.S. government. Having rebounded ~30% so far this year, I think Palantir still has plenty of steam to rally further.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/04b107a4cee19c8e584cab24b13db7af\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><h3>The bull case for Palantir remains vibrant, even amid darkening macro clouds</h3><p>I am <b>very bullish</b> on Palantir. It is still one of the largest individual holdings in my stock portfolio, and I routinely use dips as an opportunity to either add to my position or sell short-dated puts to earn quick premiums. In my view, short-sighted thinking has dragged Palantir down: yes, even though macro headwinds are pressuring Palantir&#39;s deal flow, this is not at all a problem unique to Palantir as all enterprise SaaS companies have experienced higher scrutiny in the deal approval process. Few, however, have software products with as broad of a use case as Palantir, and with as large of an addressable market.</p><p>Here is my full bullish thesis on Palantir:</p><ul><li><b>Big data is a massive discipline that can be applied in nearly limitless ways.</b> Palantir isn&#39;t a software company that serves only one or a limited set of use cases. Data and inferences that can be made from data are prevalent in just about everything: which explains why Palantir is such a powerful tool for both public and private sector clients.</li><li><b>Growth at scale.</b> Despite being at a ~$2 billion annual revenue scale, Palantir continues to deliver mid-20s y/y revenue growth. Few companies are able to achieve this kind of growth at scale, and it&#39;s a testament to the wide applicability of Palantir&#39;s products and the humongous clientele it has drawn (in particular, the U.S. Army). Prior to the recent government spending slowdown, Palantir had forecasted &gt;30% y/y growth through 2025 (which may still be feasible when macro conditions turn around).</li><li><b>Stepping up go-to-market momentum.</b> Palantir is chasing growth across a wide variety of channels. The company has stepped up its sales hiring, a nod at the broad market opportunity it has and the need for more territory coverage. Palantir also has deepened relationships with ISVs (integrated service vendors) that can resell Palantir&#39;s products without its involvement and offer additional coverage that Palantir&#39;s direct sales force can&#39;t handle.</li><li><b>One foot in the public sector, one foot in private</b>. Palantir made its name on being a large federal government contractor, but its products are just as compelling to an enterprise segment that is growing ever more obsessed with the value of big data. Most software companies start off as primarily dealing with enterprise buyers, and then hopefully getting FedRAMP certification to sell into public sector clients later. Palantir did the reverse: but now, its momentum with Fortune 100 companies is continuing to grow, and customer adds are continuing to trend at an impressive pace.</li><li><b>Free cash flow.</b> Though not yet profitable from a GAAP standpoint, Palantir continues to exceed internal expectations for free cash flow, which means the business is self-financing (a departure from many other rapid-growth software companies that continue to need to raise capital to finance their losses).</li></ul><h2>Valuation is now accessible</h2><p>Recall that during the peak of tech-stock mania during the pandemic, Palantir was one of the hottest trades in the stock market, commanding valuation multiples north of &gt;20x forward revenue.</p><p>That valuation is a relic of the past, and though I&#39;m almost certain Palantir will never return to such an aggressive valuation, I think there is room for the stock to climb north.</p><p>At current share prices of just over $8, Palantir trades at a market cap of $17.29 billion. After we net off the $2.47 billion in cash on Palantir&#39;s most recent balance sheet, the company&#39;s resulting <b>enterprise value is $14.82 billion.</b> For the current fiscal year FY23, meanwhile, Wall Street analysts have a consensus revenue target of $2.29 billion for the company, representing 21% y/y growth (data from Yahoo Finance).</p><p>This puts Palantir&#39;s valuation at just <b>6.5x EV/FY23 revenue.</b> In my view, I&#39;m a confident buyer here until the stock reaches 9x forward revenue, implying a <b>$11 price target</b> and ~34% upside from current levels.</p><h2>Strong business momentum continues, even despite growth deceleration</h2><p>Much fuss has been made over Palantir&#39;s declining revenue growth rates. In Q3, Palantir&#39;s most recently released quarter, the company reported 22% y/y revenue growth - slightly beating Wall Street&#39;s expectations, but guiding to $501-$503 million in revenue for the fourth quarter as well, implying a deceleration to 16% y/y growth.</p><p>The usual suspects are at play here: FX headwinds have hurt the company&#39;s international revenue, and macro headwinds are impacting the company&#39;s pipeline.</p><p>And as shown in the chart below, the impact to the company&#39;s commercial segment - its biggest growth engine - has been severe, with revenue growth decelerating to 17% y/y from 46% y/y in the prior year quarter.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b9af2ece34d62aa62ca5ae0b09f441e8\" tg-width=\"640\" tg-height=\"368\" width=\"100%\" height=\"auto\"/><span>Palantir commercial trends (Palantir Q3 earnings deck)</span></p><p>Alex Karp, the company&#39;s CEO, certainly acknowledged the impacts of a toughening macro environment, but expressed confidence in Palantir&#39;s ability to navigate through it during the Q&amp;A portion of the Q3 earnings call:</p><blockquote>I mean other people should -- we&#39;ve been predicting an even more challenging macro environment than this for the last 20 years. I mean how long have we been in the trenches together? 17 years in the trenches. The products are built for a disjointed world, a world where you need horizontal and vertical integration in the military context or actually we have low latency where your systems -- underlying systems actually don&#39;t work even though on the PowerPoint, they say they do, where you have to deliver results overnight, where your business totally f-ed and you got to make it work in a quarter. That&#39;s what our business is built for.</blockquote><blockquote>By the way, that&#39;s why we prepared and then that&#39;s the technical thing. Why do we have 8 quarters of free cash flow? Do you think it&#39;s a coincidence, we were preparing for this. We have -- why do we have $2.4 billion in the bank and no debt? We weren&#39;t living in the metasphere. We were living in this world in the way we thought it would be -- and we&#39;ve been essentially -- you could even look at this as a prep. We&#39;re a prepper company. We&#39;ve been preparing it&#39;s like -- preppers have their rucksack and a rifle. We have PG, GAIA, Foundry and $2.4 billion in the bank and no debt.&#34;</blockquote><p>It&#39;s worth noting that Palantir, which has historically had a very small number of overall customers (with its reliance on government contracts), still managed to add 33 net-new customers in Q3 as major headwinds intensified, growing the total customer base by 66% y/y.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/12d0a1bed967fe996f1a142c97113a4d\" tg-width=\"640\" tg-height=\"360\" width=\"100%\" height=\"auto\"/><span>Palantir customer count (Palantir Q3 earnings deck)</span></p><p>Year-over-year metrics also look quite rosy from a billings perspective. The company closed 273 deals in Q3, up 63% y/y, while billings grew 47% y/y to <b>$509 million,</b> well in excess of revenue and adding to the company&#39;s deferred revenue backlog. As seasoned software investors are aware, billings represent a better longer-term trajectory of a company&#39;s growth trend, as it captures deals signs in the quarter that will get recognized as revenue in future quarters.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cf0a046a72fb8b2116ad3fd55c9620b6\" tg-width=\"640\" tg-height=\"354\" width=\"100%\" height=\"auto\"/><span>Palantir billings (Palantir Q3 earnings deck)</span></p><p>One final positive callout worth making: the compression in Palantir&#39;s share price, at the very least, is lowering the company&#39;s stock-based comp expense on an as-reported basis. This means that the company&#39;s GAAP operating losses were cut down in Q3 to -$62.1 million, representing a -13% operating margin: significantly better than -23% in the year-ago quarter.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/251bbc66c203d0b460c424cc581791cb\" tg-width=\"640\" tg-height=\"254\" width=\"100%\" height=\"auto\"/><span>Palantir GAAP vs. non-GAAP results (Palantir Q3 earnings deck)</span></p><p>In today&#39;s market, which is more sensitive to tech companies&#39; bottom lines, I think the positive GAAP developments here will be an additional tailwind to Palantir stock.</p><h2>Key takeaways</h2><p>In my view, investors have a very rare window to buy into this iconic tech company at a heavy discount to its true worth. Palantir still has plenty of growth levers to pull, especially in the enterprise space, where its products have been deployed only across a small number of companies and industries despite having broad-based applicability. Stay long here.</p><p><i>This article is written by Gary Alexander for reference only. Please note the risks.</i></p></body></html>","source":"seekingalpha_fund","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: Even Though Explosive Growth Is Over, Rebound Potential Is Vast</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: Even Though Explosive Growth Is Over, Rebound Potential Is Vast\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-08 11:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4576034-palantir-explosive-growth-over-rebound-potential-vast><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryShares of Palantir, down 35% over the past year and more than 70% from all-time highs, remain undervalued.This big data titan has seen growth slow to the ~20% range, but few companies possess ...</p>\n\n<a href=\"https://seekingalpha.com/article/4576034-palantir-explosive-growth-over-rebound-potential-vast\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc.","BK4543":"AI","BK4023":"应用软件","BK4547":"WSB热门概念"},"source_url":"https://seekingalpha.com/article/4576034-palantir-explosive-growth-over-rebound-potential-vast","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2309559960","content_text":"SummaryShares of Palantir, down 35% over the past year and more than 70% from all-time highs, remain undervalued.This big data titan has seen growth slow to the ~20% range, but few companies possess as big of an addressable market as Palantir.Recall that Palantir's expansion into the enterprise space is still in its early stages.The company is also closing its GAAP loss margin gap while also generating positive adjusted EBITDA and free cash flow.Trading at just 6.5x forward revenue, Palantir remains undervalued for its massive potential.Michael ViWith the sharp rally in the markets since the start of the year, especially in tech stocks, one question that many investors are asking is: is it too late to benefit from the rebound? Many of last year's deepest-hit growth stocks are up double digits already this year almost entirely on sentiment; while earnings season has yet to play out for most of these names.My short answer here: no, it's not too late - and stock selection remains of the utmost importance. That's why I'm doubling down here on Palantir (NYSE:PLTR), the big data giant known for its close association with the U.S. government. Having rebounded ~30% so far this year, I think Palantir still has plenty of steam to rally further.Data by YChartsThe bull case for Palantir remains vibrant, even amid darkening macro cloudsI am very bullish on Palantir. It is still one of the largest individual holdings in my stock portfolio, and I routinely use dips as an opportunity to either add to my position or sell short-dated puts to earn quick premiums. In my view, short-sighted thinking has dragged Palantir down: yes, even though macro headwinds are pressuring Palantir's deal flow, this is not at all a problem unique to Palantir as all enterprise SaaS companies have experienced higher scrutiny in the deal approval process. Few, however, have software products with as broad of a use case as Palantir, and with as large of an addressable market.Here is my full bullish thesis on Palantir:Big data is a massive discipline that can be applied in nearly limitless ways. Palantir isn't a software company that serves only one or a limited set of use cases. Data and inferences that can be made from data are prevalent in just about everything: which explains why Palantir is such a powerful tool for both public and private sector clients.Growth at scale. Despite being at a ~$2 billion annual revenue scale, Palantir continues to deliver mid-20s y/y revenue growth. Few companies are able to achieve this kind of growth at scale, and it's a testament to the wide applicability of Palantir's products and the humongous clientele it has drawn (in particular, the U.S. Army). Prior to the recent government spending slowdown, Palantir had forecasted >30% y/y growth through 2025 (which may still be feasible when macro conditions turn around).Stepping up go-to-market momentum. Palantir is chasing growth across a wide variety of channels. The company has stepped up its sales hiring, a nod at the broad market opportunity it has and the need for more territory coverage. Palantir also has deepened relationships with ISVs (integrated service vendors) that can resell Palantir's products without its involvement and offer additional coverage that Palantir's direct sales force can't handle.One foot in the public sector, one foot in private. Palantir made its name on being a large federal government contractor, but its products are just as compelling to an enterprise segment that is growing ever more obsessed with the value of big data. Most software companies start off as primarily dealing with enterprise buyers, and then hopefully getting FedRAMP certification to sell into public sector clients later. Palantir did the reverse: but now, its momentum with Fortune 100 companies is continuing to grow, and customer adds are continuing to trend at an impressive pace.Free cash flow. Though not yet profitable from a GAAP standpoint, Palantir continues to exceed internal expectations for free cash flow, which means the business is self-financing (a departure from many other rapid-growth software companies that continue to need to raise capital to finance their losses).Valuation is now accessibleRecall that during the peak of tech-stock mania during the pandemic, Palantir was one of the hottest trades in the stock market, commanding valuation multiples north of >20x forward revenue.That valuation is a relic of the past, and though I'm almost certain Palantir will never return to such an aggressive valuation, I think there is room for the stock to climb north.At current share prices of just over $8, Palantir trades at a market cap of $17.29 billion. After we net off the $2.47 billion in cash on Palantir's most recent balance sheet, the company's resulting enterprise value is $14.82 billion. For the current fiscal year FY23, meanwhile, Wall Street analysts have a consensus revenue target of $2.29 billion for the company, representing 21% y/y growth (data from Yahoo Finance).This puts Palantir's valuation at just 6.5x EV/FY23 revenue. In my view, I'm a confident buyer here until the stock reaches 9x forward revenue, implying a $11 price target and ~34% upside from current levels.Strong business momentum continues, even despite growth decelerationMuch fuss has been made over Palantir's declining revenue growth rates. In Q3, Palantir's most recently released quarter, the company reported 22% y/y revenue growth - slightly beating Wall Street's expectations, but guiding to $501-$503 million in revenue for the fourth quarter as well, implying a deceleration to 16% y/y growth.The usual suspects are at play here: FX headwinds have hurt the company's international revenue, and macro headwinds are impacting the company's pipeline.And as shown in the chart below, the impact to the company's commercial segment - its biggest growth engine - has been severe, with revenue growth decelerating to 17% y/y from 46% y/y in the prior year quarter.Palantir commercial trends (Palantir Q3 earnings deck)Alex Karp, the company's CEO, certainly acknowledged the impacts of a toughening macro environment, but expressed confidence in Palantir's ability to navigate through it during the Q&A portion of the Q3 earnings call:I mean other people should -- we've been predicting an even more challenging macro environment than this for the last 20 years. I mean how long have we been in the trenches together? 17 years in the trenches. The products are built for a disjointed world, a world where you need horizontal and vertical integration in the military context or actually we have low latency where your systems -- underlying systems actually don't work even though on the PowerPoint, they say they do, where you have to deliver results overnight, where your business totally f-ed and you got to make it work in a quarter. That's what our business is built for.By the way, that's why we prepared and then that's the technical thing. Why do we have 8 quarters of free cash flow? Do you think it's a coincidence, we were preparing for this. We have -- why do we have $2.4 billion in the bank and no debt? We weren't living in the metasphere. We were living in this world in the way we thought it would be -- and we've been essentially -- you could even look at this as a prep. We're a prepper company. We've been preparing it's like -- preppers have their rucksack and a rifle. We have PG, GAIA, Foundry and $2.4 billion in the bank and no debt.\"It's worth noting that Palantir, which has historically had a very small number of overall customers (with its reliance on government contracts), still managed to add 33 net-new customers in Q3 as major headwinds intensified, growing the total customer base by 66% y/y.Palantir customer count (Palantir Q3 earnings deck)Year-over-year metrics also look quite rosy from a billings perspective. The company closed 273 deals in Q3, up 63% y/y, while billings grew 47% y/y to $509 million, well in excess of revenue and adding to the company's deferred revenue backlog. As seasoned software investors are aware, billings represent a better longer-term trajectory of a company's growth trend, as it captures deals signs in the quarter that will get recognized as revenue in future quarters.Palantir billings (Palantir Q3 earnings deck)One final positive callout worth making: the compression in Palantir's share price, at the very least, is lowering the company's stock-based comp expense on an as-reported basis. This means that the company's GAAP operating losses were cut down in Q3 to -$62.1 million, representing a -13% operating margin: significantly better than -23% in the year-ago quarter.Palantir GAAP vs. non-GAAP results (Palantir Q3 earnings deck)In today's market, which is more sensitive to tech companies' bottom lines, I think the positive GAAP developments here will be an additional tailwind to Palantir stock.Key takeawaysIn my view, investors have a very rare window to buy into this iconic tech company at a heavy discount to its true worth. Palantir still has plenty of growth levers to pull, especially in the enterprise space, where its products have been deployed only across a small number of companies and industries despite having broad-based applicability. Stay long here.This article is written by Gary Alexander for reference only. Please note the risks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":135,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9952203330,"gmtCreate":1674716755421,"gmtModify":1676538954961,"author":{"id":"3580024367177542","authorId":"3580024367177542","name":"ISSEY1413","avatar":"https://static.tigerbbs.com/3aae359514ad4455bfc28cf62f608a5e","crmLevel":6,"crmLevelSwitch":1},"themes":[],"htmlText":"[Surprised]&nbsp;[Surprised]&nbsp;[Surprised]&nbsp;[Surprised]&nbsp;","listText":"[Surprised]&nbsp;[Surprised]&nbsp;[Surprised]&nbsp;[Surprised]&nbsp;","text":"[Surprised] [Surprised] [Surprised] [Surprised]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9952203330","repostId":"2306458009","repostType":4,"repost":{"id":"2306458009","pubTimestamp":1674710308,"share":"https://www.laohu8.com/m/news/2306458009?lang=&edition=full","pubTime":"2023-01-26 13:18","market":"hk","language":"en","title":"Elon Musk Expects Tesla’s Main Rival Will Be a Chinese EV Maker","url":"https://stock-news.laohu8.com/highlight/detail?id=2306458009","media":"Bloomberg","summary":"Tesla Inc.’s biggest competitor is likely to be a Chinese company, Chief Executive Officer Elon Musk","content":"<html><head></head><body><p>Tesla Inc.’s biggest competitor is likely to be a Chinese company, Chief Executive Officer Elon Musk said on a call with analysts following the electric-vehicle maker’s quarterly earnings.</p><p>Asked about Chinese car companies, Musk said they “work the hardest, and they work the smartest,” describing them as the most competitive in the world. “If I were to guess,” he said, “probably some company out of China is the most likely to be second to Tesla.”</p><p>Tesla slashed prices on its models in China, where it has a factory in Shanghai, on Jan. 6 following an earlier round of cuts on Chinese-made Model Y and Model 3 EVs in October. Other automakers have also announced cutsto get a better hold in the world’s biggest EV market, including local players such as Xpeng Inc. and Aito, which is backed by Huawei Technologies Co.</p><p>China’s leading EV maker is BYD Co., which outsold Tesla in 2022 when its plug-in hybrid vehicles as well as pure EVs were included.</p><p>Musk said on Wednesday’s call that China is the most competitive market. He’s made similar comments before, including during an online forum in September 2021, when he said he had “a great deal of respect for the many Chinese automakers.”</p><p>Tesla made more than 710,000 EVs in China last year, about 52% of its global output, even with production being disrupted by the country’s now-abandoned Covid-Zero policy. Musk said 2022 was difficult due to shutdowns at Tesla’s China factory, along with higher borrowing costs and logistical issues.</p><p>Without unexpected disruptions, worldwide output could approach 2 million vehicles this year, Musk said.</p><p>BloombergNEF expects Tesla’s sales to grow by up to 40% in 2023 and its Model Y to be the best-selling EV in the world, likely making it into the top three models of any type.</p><p>Tesla’s revenue in the fourth quarter was $24.3 billion, ahead of market expectations, while it reported adjusted earnings of $1.19 a share, topping the $1.12 average forecast from analysts.</p></body></html>","source":"lsy1584095487587","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>Elon Musk Expects Tesla’s Main Rival Will Be a Chinese EV Maker</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\">\nElon Musk Expects Tesla’s Main Rival Will Be a Chinese EV Maker\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-01-26 13:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-01-26/elon-musk-expects-tesla-s-main-rival-will-be-a-chinese-ev-maker?srnd=premium><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla Inc.’s biggest competitor is likely to be a Chinese company, Chief Executive Officer Elon Musk said on a call with analysts following the electric-vehicle maker’s quarterly earnings.Asked about ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-01-26/elon-musk-expects-tesla-s-main-rival-will-be-a-chinese-ev-maker?srnd=premium\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1548497426.USD":"安联环球人工智能AT Acc","002594":"比亚迪","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU0593848301.USD":"未来资产亚洲卓越消费股票基金A","BK4574":"无人驾驶","BK4551":"寇图资本持仓","BK1587":"次新股","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","XPEV":"小鹏汽车","BYDDY":"比亚迪ADR","NIO":"蔚来","BK4581":"高盛持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","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","09866":"蔚来-SW","BK4511":"特斯拉概念","BK4099":"汽车制造商","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","BK4548":"巴美列捷福持仓","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0823411888.USD":"法巴消费创新基金 Cap","02015":"理想汽车-W","LU0082616367.USD":"摩根大通美国科技A（dist）","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0056508442.USD":"贝莱德世界科技基金A2","BK4550":"红杉资本持仓","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK1575":"同股不同权","LU1861215975.USD":"贝莱德新一代科技基金 A2","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","BK4585":"ETF&股票定投概念","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","NIO.SI":"蔚来","BK4534":"瑞士信贷持仓","BK4555":"新能源车","BK4533":"AQR资本管理(全球第二大对冲基金)","TSLA":"特斯拉","LU2063271972.USD":"富兰克林创新领域基金","BK1539":"汽车股","01211":"比亚迪股份","BK1588":"回港中概股","LU0823414478.USD":"法巴经典能源转换基金","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LI":"理想汽车","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","BK4527":"明星科技股","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC"},"source_url":"https://www.bloomberg.com/news/articles/2023-01-26/elon-musk-expects-tesla-s-main-rival-will-be-a-chinese-ev-maker?srnd=premium","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2306458009","content_text":"Tesla Inc.’s biggest competitor is likely to be a Chinese company, Chief Executive Officer Elon Musk said on a call with analysts following the electric-vehicle maker’s quarterly earnings.Asked about Chinese car companies, Musk said they “work the hardest, and they work the smartest,” describing them as the most competitive in the world. “If I were to guess,” he said, “probably some company out of China is the most likely to be second to Tesla.”Tesla slashed prices on its models in China, where it has a factory in Shanghai, on Jan. 6 following an earlier round of cuts on Chinese-made Model Y and Model 3 EVs in October. Other automakers have also announced cutsto get a better hold in the world’s biggest EV market, including local players such as Xpeng Inc. and Aito, which is backed by Huawei Technologies Co.China’s leading EV maker is BYD Co., which outsold Tesla in 2022 when its plug-in hybrid vehicles as well as pure EVs were included.Musk said on Wednesday’s call that China is the most competitive market. He’s made similar comments before, including during an online forum in September 2021, when he said he had “a great deal of respect for the many Chinese automakers.”Tesla made more than 710,000 EVs in China last year, about 52% of its global output, even with production being disrupted by the country’s now-abandoned Covid-Zero policy. Musk said 2022 was difficult due to shutdowns at Tesla’s China factory, along with higher borrowing costs and logistical issues.Without unexpected disruptions, worldwide output could approach 2 million vehicles this year, Musk said.BloombergNEF expects Tesla’s sales to grow by up to 40% in 2023 and its Model Y to be the best-selling EV in the world, likely making it into the top three models of any type.Tesla’s revenue in the fourth quarter was $24.3 billion, ahead of market expectations, while it reported adjusted earnings of $1.19 a share, topping the $1.12 average forecast from analysts.","news_type":1},"isVote":1,"tweetType":1,"viewCount":66,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9952826116,"gmtCreate":1674625554735,"gmtModify":1676538949622,"author":{"id":"3580024367177542","authorId":"3580024367177542","name":"ISSEY1413","avatar":"https://static.tigerbbs.com/3aae359514ad4455bfc28cf62f608a5e","crmLevel":6,"crmLevelSwitch":1},"themes":[],"htmlText":"[Surprised]&nbsp;[Surprised]&nbsp;[Surprised]&nbsp;","listText":"[Surprised]&nbsp;[Surprised]&nbsp;[Surprised]&nbsp;","text":"[Surprised] [Surprised] [Surprised]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9952826116","repostId":"2306411028","repostType":4,"repost":{"id":"2306411028","pubTimestamp":1674623712,"share":"https://www.laohu8.com/m/news/2306411028?lang=&edition=full","pubTime":"2023-01-25 13:15","market":"us","language":"en","title":"Will Coinbase Be a Trillion-Dollar Company by 2040?","url":"https://stock-news.laohu8.com/highlight/detail?id=2306411028","media":"Motley Fool","summary":"The cryptocurrency exchange could be a major multibagger -- or not.","content":"<html><head></head><body><p><b>Coinbase</b>, one of the world&#39;s largest cryptocurrency exchanges, reached a peak valuation of nearly $77 billion on Nov. 9, 2021. But today, it&#39;s only worth about $11 billion. It lost 85% of its value as rising interest rates, regulatory threats, and the failures of several high-profile tokens and exchanges crushed the cryptocurrency market. <b>Bitcoin</b> (BTC) and <b>Ether</b> (ETH), the world&#39;s two largest cryptocurrencies, have both lost nearly 70% of their value after reaching their own all-time highs at roughly the same time as Coinbase&#39;s stock.</p><p>Last June, Coinbase CEO Brian Armstrong bluntly admitted that a new &#34;crypto winter&#34; had started and began to rein in the company&#39;s spending.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6623bacc8d15a28366f7889e009d10b8\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"/><span>Image source: Getty Images.</span></p><p>Coinbase ended the third quarter of 2022 with only 8.5 million monthly transacting users (MTUs), down from a peak of 11.2 million in the fourth quarter of 2021. Over that period, the total assets on its platform shrank from $278 billion to $101 billion.</p><p>As a result, revenue fell 52% year over year in the first nine months of 2022, and analysts anticipate a 60% drop to $3.15 billion for the full year. Coinbase expects to post an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of about $500 million for the year, compared to a positive adjusted EBITDA of $4.1 billion in 2021.</p><p>Those dismal numbers drove many investors away from Coinbase, but could it recover and become a trillion-dollar company (increasing its market cap by 90x) by 2040? Let&#39;s review the bull and bear cases.</p><h2>The bull case for the crypto market</h2><p>Cathie Wood&#39;s Ark Invest, which holds Coinbase in several of its growth-oriented exchange-traded funds (ETFs), believes the price of Bitcoin (which trades at around $21,000 now) could reach $1 million by 2030 once some of the smaller tokens are flushed out of the market and more institutional investors accumulate the top cryptocurrency. A loss of faith in fiat currencies amid rampant inflation could accelerate that transition.</p><p>Wood&#39;s forecast is extremely bullish, but other forecasts also call for steep Bitcoin gains within the next two decades. For example, analysts at Telegaon believe Bitcoin&#39;s price could reach nearly $420,000 by 2040. The analytics firm also expects the price of Ether (trading in the neighborhood of $1,550 now) to reach roughly $24,000 by 2040.</p><p>Telegaon&#39;s projections would require a compound annual growth rate (CAGR) of 20% for Bitcoin between 2022 and 2040, while its forecast for Ether&#39;s price would require a CAGR of 18%. If the value of Coinbase kept pace with an 18-year CAGR of 18%, its annual revenue would soar from $3.15 billion in 2022 to approximately $60 billion in 2040.</p><p>If that scenario comes true and, 18 years from now, Coinbase still trades at 4 times sales, it would be worth $240 billion, which would represent a 22-bagger gain. If investors turn more bullish and value the company at 10 times those speculative sales, it could be worth $600 billion -- but it would still fall short of joining the 12-zero club.</p><h2>The bear case for the crypto market</h2><p>Coinbase might flourish again if the crypto market recovers, but it could also go bust if the crypto winter becomes an ice age. Tighter regulations regarding cross-border transfers, new taxes, and environmental restrictions on the energy sources that crypto mining operations can use could all prevent the cryptocurrency market from recovering. Cryptocurrencies could also never become widely accepted or used for mainstream payments if their prices remain volatile and they continue to be used primarily for speculation.</p><p>The bull case for Ether, which is based on the expected wider use of the Ethereum network for the creation of decentralized apps and services, could also collapse if people simply stick with centralized platforms like <b>Apple</b>&#39;s App Store and <b>Alphabet</b>&#39;s Google Play. Ethereum-based creations like non-fungible tokens (NFTs) could also completely or largely disappear.</p><p>That&#39;s why many respected investors, among them <b>Berkshire Hathaway</b>&#39;s Charlie Munger, adamantly believe that Bitcoin and other cryptocurrencies will go to zero. If that happens, Coinbase won&#39;t even make it to 2040 before its liabilities outweigh its assets.</p><h2>Where will Coinbase be in 2040?</h2><p>I expect Bitcoin and Ether to survive the crypto winter even as some of the smaller cryptocurrencies and more troubled exchanges die out. That said, I believe the crypto winter could also drag on for years as economic malaise and higher interest rates cause investors to stay away from the crypto market. Coinbase&#39;s survival will hinge entirely on the length of that downturn, which is impossible to accurately predict.</p><p>If Coinbase survives this brutal winter -- which it&#39;s desperately trying to do by laying off staff and streamlining its operations -- its stock could rise much higher over the next two decades. In a best-case scenario, its stock might deliver a 20- to 40-bagger gain from its current prices -- but still fall short of the 90-bagger gain it would require to hit the $1 trillion mark. In a worst-case scenario, it could go to zero -- which makes it a high-risk, high-reward play on the broader crypto market.</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>Will Coinbase Be a Trillion-Dollar Company by 2040?</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\">\nWill Coinbase Be a Trillion-Dollar Company by 2040?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-01-25 13:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2023/01/24/will-coinbase-be-a-trillion-dollar-company-by-2040/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Coinbase, one of the world's largest cryptocurrency exchanges, reached a peak valuation of nearly $77 billion on Nov. 9, 2021. But today, it's only worth about $11 billion. It lost 85% of its value as...</p>\n\n<a href=\"https://www.fool.com/investing/2023/01/24/will-coinbase-be-a-trillion-dollar-company-by-2040/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4539":"次新股","COIN":"Coinbase Global, Inc.","BK4554":"元宇宙及AR概念","BK4112":"金融交易所和数据","BK4535":"淡马锡持仓","BK4551":"寇图资本持仓"},"source_url":"https://www.fool.com/investing/2023/01/24/will-coinbase-be-a-trillion-dollar-company-by-2040/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2306411028","content_text":"Coinbase, one of the world's largest cryptocurrency exchanges, reached a peak valuation of nearly $77 billion on Nov. 9, 2021. But today, it's only worth about $11 billion. It lost 85% of its value as rising interest rates, regulatory threats, and the failures of several high-profile tokens and exchanges crushed the cryptocurrency market. Bitcoin (BTC) and Ether (ETH), the world's two largest cryptocurrencies, have both lost nearly 70% of their value after reaching their own all-time highs at roughly the same time as Coinbase's stock.Last June, Coinbase CEO Brian Armstrong bluntly admitted that a new \"crypto winter\" had started and began to rein in the company's spending.Image source: Getty Images.Coinbase ended the third quarter of 2022 with only 8.5 million monthly transacting users (MTUs), down from a peak of 11.2 million in the fourth quarter of 2021. Over that period, the total assets on its platform shrank from $278 billion to $101 billion.As a result, revenue fell 52% year over year in the first nine months of 2022, and analysts anticipate a 60% drop to $3.15 billion for the full year. Coinbase expects to post an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of about $500 million for the year, compared to a positive adjusted EBITDA of $4.1 billion in 2021.Those dismal numbers drove many investors away from Coinbase, but could it recover and become a trillion-dollar company (increasing its market cap by 90x) by 2040? Let's review the bull and bear cases.The bull case for the crypto marketCathie Wood's Ark Invest, which holds Coinbase in several of its growth-oriented exchange-traded funds (ETFs), believes the price of Bitcoin (which trades at around $21,000 now) could reach $1 million by 2030 once some of the smaller tokens are flushed out of the market and more institutional investors accumulate the top cryptocurrency. A loss of faith in fiat currencies amid rampant inflation could accelerate that transition.Wood's forecast is extremely bullish, but other forecasts also call for steep Bitcoin gains within the next two decades. For example, analysts at Telegaon believe Bitcoin's price could reach nearly $420,000 by 2040. The analytics firm also expects the price of Ether (trading in the neighborhood of $1,550 now) to reach roughly $24,000 by 2040.Telegaon's projections would require a compound annual growth rate (CAGR) of 20% for Bitcoin between 2022 and 2040, while its forecast for Ether's price would require a CAGR of 18%. If the value of Coinbase kept pace with an 18-year CAGR of 18%, its annual revenue would soar from $3.15 billion in 2022 to approximately $60 billion in 2040.If that scenario comes true and, 18 years from now, Coinbase still trades at 4 times sales, it would be worth $240 billion, which would represent a 22-bagger gain. If investors turn more bullish and value the company at 10 times those speculative sales, it could be worth $600 billion -- but it would still fall short of joining the 12-zero club.The bear case for the crypto marketCoinbase might flourish again if the crypto market recovers, but it could also go bust if the crypto winter becomes an ice age. Tighter regulations regarding cross-border transfers, new taxes, and environmental restrictions on the energy sources that crypto mining operations can use could all prevent the cryptocurrency market from recovering. Cryptocurrencies could also never become widely accepted or used for mainstream payments if their prices remain volatile and they continue to be used primarily for speculation.The bull case for Ether, which is based on the expected wider use of the Ethereum network for the creation of decentralized apps and services, could also collapse if people simply stick with centralized platforms like Apple's App Store and Alphabet's Google Play. Ethereum-based creations like non-fungible tokens (NFTs) could also completely or largely disappear.That's why many respected investors, among them Berkshire Hathaway's Charlie Munger, adamantly believe that Bitcoin and other cryptocurrencies will go to zero. If that happens, Coinbase won't even make it to 2040 before its liabilities outweigh its assets.Where will Coinbase be in 2040?I expect Bitcoin and Ether to survive the crypto winter even as some of the smaller cryptocurrencies and more troubled exchanges die out. That said, I believe the crypto winter could also drag on for years as economic malaise and higher interest rates cause investors to stay away from the crypto market. Coinbase's survival will hinge entirely on the length of that downturn, which is impossible to accurately predict.If Coinbase survives this brutal winter -- which it's desperately trying to do by laying off staff and streamlining its operations -- its stock could rise much higher over the next two decades. In a best-case scenario, its stock might deliver a 20- to 40-bagger gain from its current prices -- but still fall short of the 90-bagger gain it would require to hit the $1 trillion mark. In a worst-case scenario, it could go to zero -- which makes it a high-risk, high-reward play on the broader crypto market.","news_type":1},"isVote":1,"tweetType":1,"viewCount":188,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9924705644,"gmtCreate":1672324841488,"gmtModify":1676538672519,"author":{"id":"3580024367177542","authorId":"3580024367177542","name":"ISSEY1413","avatar":"https://static.tigerbbs.com/3aae359514ad4455bfc28cf62f608a5e","crmLevel":6,"crmLevelSwitch":1},"themes":[],"htmlText":"[Anger]&nbsp;[Anger]&nbsp;[Anger]&nbsp;[Anger]&nbsp;","listText":"[Anger]&nbsp;[Anger]&nbsp;[Anger]&nbsp;[Anger]&nbsp;","text":"[Anger] [Anger] [Anger] [Anger]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9924705644","repostId":"1137209740","repostType":4,"repost":{"id":"1137209740","pubTimestamp":1672328467,"share":"https://www.laohu8.com/m/news/1137209740?lang=&edition=full","pubTime":"2022-12-29 23:41","market":"us","language":"en","title":"Tesla: A Generational Buying Opportunity","url":"https://stock-news.laohu8.com/highlight/detail?id=1137209740","media":"Seekingalpha","summary":"Its stock is undervalued intrinsically and relative to historic multiples.","content":"<html><head></head><body><h3>Summary</h3><ul><li>Tesla is one of the world&#39;s largest EV makers and an innovative powerhouse in areas from solar to self-driving.</li><li>The company has continued to produce strong financial results, beating both top and bottom line estimates in Q3,22.</li><li>A Twitter poll requested Elon Musk step down as the CEO of Twitter, which I suspect will benefit Tesla shareholders if he follows through.</li><li>Its stock is undervalued intrinsically and relative to historic multiples.</li></ul><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a> is one of the world&#39;s largest EV makers and one of the most popular stocks in the world. The company was catapulted into stardom during the stimulus-fueled bull market of 2020, which sent the company fromnear bankruptcy to an S&amp;P 500, trillion-dollar titan. This tremendous bull run meant Tesla&#39;s stock price increased by over 1,300% and made many investors &#34;Teslanaires&#34;. However, since the macroeconomic environment changed in November 2021, as thehighinflation numbers were released, Tesla has become a rollercoaster for investors. The stock price has now been butchered by 73% from its all-time highs, with a 44% decline in December alone. This looks to have been driven by a series of macroeconomic factors. In addition, to a serious amount of stock selling by founder Elon Musk (which I will discuss more on in the Risks) section. There have also been somereportsof a production cut in January 2023, expected at Tesla&#39;s Shanghai factory. Although the company hasn&#39;t confirmed this yet. With all this bad news you may wonder why I am bullish on the stock? There are a few reasons for this, of course, we know about the company&#39;s leadership position and technology innovation. In addition, Tesla customers are nowpoisedto benefit from a $7,500 EV tax incentive which was offered thanks to the &#34;anti-inflation act&#34; and should boost EV demand. Its stock is also deeply undervalued intrinsically. In this post, I&#39;m going to review its financials, outline production updates, and revisit its valuation. Let&#39;s dive in.</p><p><img src=\"https://static.tigerbbs.com/7a79a1ea5bc04bd0f7d6b837085e569e\" tg-width=\"635\" tg-height=\"417\" referrerpolicy=\"no-referrer\"/>Data byYCharts</p><h3>Strong Financials</h3><p>Tesla generated strong financialresultsfor the third quarter of 2022. Revenue increased by a rapid 56% year over year to a record $21.45 billion, which was a strong positive. However, it did miss analyst estimates by $428.34 million. This was mainly driven by unfavorable foreign exchange headwinds, as a rising dollar impacted international revenue. Overall vehicle deliveries increased by 42% year over year to 343,830 units. The Model Y drove the majority of sales, followed by the Model S.</p><p><img src=\"https://static.tigerbbs.com/20b64a3820209ed9456f87830d2189af\" tg-width=\"635\" tg-height=\"417\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p><p>Theaf orementioned tax credit is for EV vehicles that sell for below $55,000 and thus this includes Tesla&#39;s best-selling models 3 and Y. However, with options attached to the models, this will likely go over the tax rate availability. I did notice Tesla has relatively few low-cost (below $50,000 models) available on its website, within 200 miles of Rodeo Drive LA. I suspect the tax credit has helped to boost sales of low-value models already, which is a positive. I did notice Tesla is offering 10,000 miles of free supercharging which looks to be an incentive to boost demand further.</p><p><img src=\"https://static.tigerbbs.com/57567a6966f9a88dec06edea0df2921f\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/></p><p>Tesla vehicle stock (Tesla website, author search)</p><p>As of the third quarter of 2022, Tesla ramped up its production by 54% YoY to 365,923 vehicles. The latestdata(November 2022) shows Tesla still dominates the electric vehicle market in the U.S.A, with 65% market share. However, it should be noted that its market share has declined from the 79% in 2020. For many years, bearish analysts have said &#34;competition is coming&#34; for Tesla, but now it looks as though they are finally starting to eat market share.</p><p><img src=\"https://static.tigerbbs.com/be8f129b31bd55450cd9d2b4db301535\" tg-width=\"640\" tg-height=\"283\" referrerpolicy=\"no-referrer\"/></p><p>Tesla market share (Electrek)</p><p>Ford is the second largest EV maker in the U.S. but still trails Tesla massively with just 7% market share. The company produces the F-150 which is the most popular vehicle sold in the U.S. Its new EV version of the F-150 isforecastto be released in 2023 and thus I believe this will be a major driver of sales. A positive for Tesla is the entire EV market is growing and thus the pie is getting bigger for all manufacturers. According to one study, the EV industry is forecast to grow at a 23.1% CAGR and be worth over $1.1 trillion by 2030.</p><p><img src=\"https://static.tigerbbs.com/3b8dd476696262c736d8202f0eb711b3\" tg-width=\"640\" tg-height=\"241\" referrerpolicy=\"no-referrer\"/></p><p>Ford 150 Electric (Ford Website, author screenshot)</p><p>A positive for Tesla is it doesn&#39;t have to convert traditional internal combustion engine facilities into EV manufacturing plants, like many traditional automakers. Tesla is vertically integrated from the ground up and has even developed unique pieces of equipment to manufacture its cars, such as the world&#39;s largest &#34;gigapress&#34;. Elon Musk has often stated in the past that producing a prototype or a low volume of vehicles is &#34;pretty easy&#34;, but manufacturing at scale is the challenging part. Tesla ramped up its Shanghai factory production in the third quarter and its Berlin factory also produced 2,000 model Y vehicles, although still in the early stages of a full ramp.</p><p>Tesla&#39;s rate of innovation is so great that when traditional auto manufacturers are thinking about breakfast, Tesla is already eating their lunch. For example, I recentlywatchedthe Tesla Semipresentationby Elon Musk, which is currently in production. The company has reinvented trucking with a smooth design which was tested in a state-of-the-art wind chamber, to maximize its range of 500 miles which was astonishing. The truck is also reportedly as &#34;easy to drive as a Model 3, with basically no training required&#34; according to Musk.</p><p><img src=\"https://static.tigerbbs.com/0285620745fdf8528607519819ead673\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"/></p><p>Tesla Semi(Tesla)</p><p>Tesla has also innovated on the charging front with new &#34;Megachargers&#34; announced, that enable charging at a staggering 1 megawatt. This basically means truck batteries can be charged up to 70% in 30 minutes, which is the average amount of time a truck driver will take on a refresh break. The uniquely designed Cybertruck is alsoreportedto start production in 2023 and will benefit from the &#34;Megachargers&#34;.</p><p>Tesla increased its energy storage deployed to 2,100 MWh, which increased by a substantial 62% year over year. The company did experience some supply chain constraints as demand continued to &#34;outstrip supply&#34;.</p><p><img src=\"https://static.tigerbbs.com/2e9768e93dfbc30a6ed7f6a616288ecd\" tg-width=\"640\" tg-height=\"311\" referrerpolicy=\"no-referrer\"/></p><p>Energy storage (Q3,22 report)</p><p>Tesla is also innovating on the artificial intelligence front as the company announced its beta Full self-driving and even humanoid robot concept called Optimus, which I have covered in greater detail in past posts. AI has recently seen a huge surge in popularity. The Open AI institute which was originally backed by Elon Musk released the popular ChatGPT, which some analysts believe could rival Google. I could envision a ChatGPT-like AI model embedded into the software of Optimus, which would make it a font of information while also assisting with tasks based upon prompts. This would truly create a &#34;superintelligence&#34; quite easily given the component pieces are all available.</p><p><img src=\"https://static.tigerbbs.com/f7fe2dfb674cd77a5935cb3ad7b34ca8\" tg-width=\"640\" tg-height=\"329\" referrerpolicy=\"no-referrer\"/></p><p>Tesla AI Day 2022(Tesla)</p><p>Tesla reported earnings per share of $0.95, which increased by a staggering 93.57% year over year and beat analyst estimates by $0.06. The company also has a strong balance sheet with $21,107 billion in cash and short-term investments. The company does have fairly high debt of $5.87 billion, but just $979 million of this is short term debt, due within the next 2 years.</p><h3>Advanced Valuation</h3><p>I have plugged the latest financials of Tesla into my discounted cash flow valuation model. I have forecasted 30% revenue growth for next year which is fairly conservative given past growth rates of above 50%. I have given a lower estimate due to the tepid macroeconomic environment forecasted. However, in years 2 to 5, I have forecasted a recovery with a 35% revenue growth rate per year.</p><p><img src=\"https://static.tigerbbs.com/500a6571bf014bc4f705876a2b54d81f\" tg-width=\"640\" tg-height=\"293\" referrerpolicy=\"no-referrer\"/></p><p>Tesla stock valuation (created by author Ben at Motivation 2 Invest)</p><p>To increase the accuracy of the valuation, I have capitalized R&amp;D expenses which has lifted net income. In addition, I have forecasted a pre-tax operating margin of 20% over the next 10 years, as the company scales and benefits from an increasing amount of cross-selling between its products.</p><p><img src=\"https://static.tigerbbs.com/f3b77d54dee36748f8aba2dbb017bd53\" tg-width=\"640\" tg-height=\"697\" referrerpolicy=\"no-referrer\"/></p><p>Tesla stock valuation (created by author Ben at Motivation 2 Invest)</p><p>Given these factors I get a fair value of $216 per share, the stock is trading at ~$109 per share at the time of writing and thus is ~50% undervalued.</p><p>As an extra data point, Tesla trades at a Price to Sales ratio = 4.52, which is 52% cheaper than its 5-year average.</p><p><img src=\"https://static.tigerbbs.com/8d2a4393b0790f345f095c860ebcc51f\" tg-width=\"635\" tg-height=\"417\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p><h3>Risks-Elon Musk Selling/Twitter</h3><p>A key red flag is the continued sale of Tesla stock by Elon Musk. A mid-December SECfilingreports Elon Musk sold 22 million shares of Tesla stock, with a staggering value of $3.6 billion. Musk is known to have slept in Tesla&#39;s factory and is very committed to the company, but when he repeatedly sells stock, it does contradict this narrative.</p><p><img src=\"https://static.tigerbbs.com/7ab90b0248581ffdd6e1053e959dabb8\" tg-width=\"640\" tg-height=\"399\" referrerpolicy=\"no-referrer\"/></p><p>SEC filing(SEC/author annotation)</p><p>Musk may be selling shares to help pay down some of Twitter&#39;s debt, which he has previously made comments about. Many investors (including myself) believe Twitter is a major distraction to Elon Musk&#39;s mission at Tesla. In a recentvoteon Twitter, 57% of people asked Elon to step down as the CEO of Twitter, which he said he will abide by when he gets a replacement.</p><p><img src=\"https://static.tigerbbs.com/642e9c75c64b767a55648c6514f3739a\" tg-width=\"640\" tg-height=\"650\" referrerpolicy=\"no-referrer\"/></p><p>CEO vote(Elon Musk Twitter)</p><p>Other risks include the forecasted recession and competition which I have previously discussed.</p><h3>Final Thoughts</h3><p>Tesla is a tremendous technology company with many competitive advantages from its manufacturing to technology and even its strong brand/community. Tesla has grown into its previously &#34;high&#34; valuation by continuing to generate strong financial results. Its stock is now deeply undervalued and thus this could be a great long-term investment. I do predict some short-term volatility over the next 12 months due to the recessionary environment, but Tesla&#39;s technology advantages should keep them ahead.</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>Tesla: A Generational Buying Opportunity</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: A Generational Buying Opportunity\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-29 23:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4566840-tesla-stock-generational-buying-opportunity><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryTesla is one of the world's largest EV makers and an innovative powerhouse in areas from solar to self-driving.The company has continued to produce strong financial results, beating both top ...</p>\n\n<a href=\"https://seekingalpha.com/article/4566840-tesla-stock-generational-buying-opportunity\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4566840-tesla-stock-generational-buying-opportunity","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1137209740","content_text":"SummaryTesla is one of the world's largest EV makers and an innovative powerhouse in areas from solar to self-driving.The company has continued to produce strong financial results, beating both top and bottom line estimates in Q3,22.A Twitter poll requested Elon Musk step down as the CEO of Twitter, which I suspect will benefit Tesla shareholders if he follows through.Its stock is undervalued intrinsically and relative to historic multiples.Tesla is one of the world's largest EV makers and one of the most popular stocks in the world. The company was catapulted into stardom during the stimulus-fueled bull market of 2020, which sent the company fromnear bankruptcy to an S&P 500, trillion-dollar titan. This tremendous bull run meant Tesla's stock price increased by over 1,300% and made many investors \"Teslanaires\". However, since the macroeconomic environment changed in November 2021, as thehighinflation numbers were released, Tesla has become a rollercoaster for investors. The stock price has now been butchered by 73% from its all-time highs, with a 44% decline in December alone. This looks to have been driven by a series of macroeconomic factors. In addition, to a serious amount of stock selling by founder Elon Musk (which I will discuss more on in the Risks) section. There have also been somereportsof a production cut in January 2023, expected at Tesla's Shanghai factory. Although the company hasn't confirmed this yet. With all this bad news you may wonder why I am bullish on the stock? There are a few reasons for this, of course, we know about the company's leadership position and technology innovation. In addition, Tesla customers are nowpoisedto benefit from a $7,500 EV tax incentive which was offered thanks to the \"anti-inflation act\" and should boost EV demand. Its stock is also deeply undervalued intrinsically. In this post, I'm going to review its financials, outline production updates, and revisit its valuation. Let's dive in.Data byYChartsStrong FinancialsTesla generated strong financialresultsfor the third quarter of 2022. Revenue increased by a rapid 56% year over year to a record $21.45 billion, which was a strong positive. However, it did miss analyst estimates by $428.34 million. This was mainly driven by unfavorable foreign exchange headwinds, as a rising dollar impacted international revenue. Overall vehicle deliveries increased by 42% year over year to 343,830 units. The Model Y drove the majority of sales, followed by the Model S.Data by YChartsTheaf orementioned tax credit is for EV vehicles that sell for below $55,000 and thus this includes Tesla's best-selling models 3 and Y. However, with options attached to the models, this will likely go over the tax rate availability. I did notice Tesla has relatively few low-cost (below $50,000 models) available on its website, within 200 miles of Rodeo Drive LA. I suspect the tax credit has helped to boost sales of low-value models already, which is a positive. I did notice Tesla is offering 10,000 miles of free supercharging which looks to be an incentive to boost demand further.Tesla vehicle stock (Tesla website, author search)As of the third quarter of 2022, Tesla ramped up its production by 54% YoY to 365,923 vehicles. The latestdata(November 2022) shows Tesla still dominates the electric vehicle market in the U.S.A, with 65% market share. However, it should be noted that its market share has declined from the 79% in 2020. For many years, bearish analysts have said \"competition is coming\" for Tesla, but now it looks as though they are finally starting to eat market share.Tesla market share (Electrek)Ford is the second largest EV maker in the U.S. but still trails Tesla massively with just 7% market share. The company produces the F-150 which is the most popular vehicle sold in the U.S. Its new EV version of the F-150 isforecastto be released in 2023 and thus I believe this will be a major driver of sales. A positive for Tesla is the entire EV market is growing and thus the pie is getting bigger for all manufacturers. According to one study, the EV industry is forecast to grow at a 23.1% CAGR and be worth over $1.1 trillion by 2030.Ford 150 Electric (Ford Website, author screenshot)A positive for Tesla is it doesn't have to convert traditional internal combustion engine facilities into EV manufacturing plants, like many traditional automakers. Tesla is vertically integrated from the ground up and has even developed unique pieces of equipment to manufacture its cars, such as the world's largest \"gigapress\". Elon Musk has often stated in the past that producing a prototype or a low volume of vehicles is \"pretty easy\", but manufacturing at scale is the challenging part. Tesla ramped up its Shanghai factory production in the third quarter and its Berlin factory also produced 2,000 model Y vehicles, although still in the early stages of a full ramp.Tesla's rate of innovation is so great that when traditional auto manufacturers are thinking about breakfast, Tesla is already eating their lunch. For example, I recentlywatchedthe Tesla Semipresentationby Elon Musk, which is currently in production. The company has reinvented trucking with a smooth design which was tested in a state-of-the-art wind chamber, to maximize its range of 500 miles which was astonishing. The truck is also reportedly as \"easy to drive as a Model 3, with basically no training required\" according to Musk.Tesla Semi(Tesla)Tesla has also innovated on the charging front with new \"Megachargers\" announced, that enable charging at a staggering 1 megawatt. This basically means truck batteries can be charged up to 70% in 30 minutes, which is the average amount of time a truck driver will take on a refresh break. The uniquely designed Cybertruck is alsoreportedto start production in 2023 and will benefit from the \"Megachargers\".Tesla increased its energy storage deployed to 2,100 MWh, which increased by a substantial 62% year over year. The company did experience some supply chain constraints as demand continued to \"outstrip supply\".Energy storage (Q3,22 report)Tesla is also innovating on the artificial intelligence front as the company announced its beta Full self-driving and even humanoid robot concept called Optimus, which I have covered in greater detail in past posts. AI has recently seen a huge surge in popularity. The Open AI institute which was originally backed by Elon Musk released the popular ChatGPT, which some analysts believe could rival Google. I could envision a ChatGPT-like AI model embedded into the software of Optimus, which would make it a font of information while also assisting with tasks based upon prompts. This would truly create a \"superintelligence\" quite easily given the component pieces are all available.Tesla AI Day 2022(Tesla)Tesla reported earnings per share of $0.95, which increased by a staggering 93.57% year over year and beat analyst estimates by $0.06. The company also has a strong balance sheet with $21,107 billion in cash and short-term investments. The company does have fairly high debt of $5.87 billion, but just $979 million of this is short term debt, due within the next 2 years.Advanced ValuationI have plugged the latest financials of Tesla into my discounted cash flow valuation model. I have forecasted 30% revenue growth for next year which is fairly conservative given past growth rates of above 50%. I have given a lower estimate due to the tepid macroeconomic environment forecasted. However, in years 2 to 5, I have forecasted a recovery with a 35% revenue growth rate per year.Tesla stock valuation (created by author Ben at Motivation 2 Invest)To increase the accuracy of the valuation, I have capitalized R&D expenses which has lifted net income. In addition, I have forecasted a pre-tax operating margin of 20% over the next 10 years, as the company scales and benefits from an increasing amount of cross-selling between its products.Tesla stock valuation (created by author Ben at Motivation 2 Invest)Given these factors I get a fair value of $216 per share, the stock is trading at ~$109 per share at the time of writing and thus is ~50% undervalued.As an extra data point, Tesla trades at a Price to Sales ratio = 4.52, which is 52% cheaper than its 5-year average.Data by YChartsRisks-Elon Musk Selling/TwitterA key red flag is the continued sale of Tesla stock by Elon Musk. A mid-December SECfilingreports Elon Musk sold 22 million shares of Tesla stock, with a staggering value of $3.6 billion. Musk is known to have slept in Tesla's factory and is very committed to the company, but when he repeatedly sells stock, it does contradict this narrative.SEC filing(SEC/author annotation)Musk may be selling shares to help pay down some of Twitter's debt, which he has previously made comments about. Many investors (including myself) believe Twitter is a major distraction to Elon Musk's mission at Tesla. In a recentvoteon Twitter, 57% of people asked Elon to step down as the CEO of Twitter, which he said he will abide by when he gets a replacement.CEO vote(Elon Musk Twitter)Other risks include the forecasted recession and competition which I have previously discussed.Final ThoughtsTesla is a tremendous technology company with many competitive advantages from its manufacturing to technology and even its strong brand/community. Tesla has grown into its previously \"high\" valuation by continuing to generate strong financial results. Its stock is now deeply undervalued and thus this could be a great long-term investment. I do predict some short-term volatility over the next 12 months due to the recessionary environment, but Tesla's technology advantages should keep them ahead.","news_type":1},"isVote":1,"tweetType":1,"viewCount":95,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9929908074,"gmtCreate":1670576398098,"gmtModify":1676538397437,"author":{"id":"3580024367177542","authorId":"3580024367177542","name":"ISSEY1413","avatar":"https://static.tigerbbs.com/3aae359514ad4455bfc28cf62f608a5e","crmLevel":6,"crmLevelSwitch":1},"themes":[],"htmlText":"[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;","listText":"[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;","text":"[Miser] [Miser] [Miser] [Miser] [Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9929908074","repostId":"1180654040","repostType":4,"repost":{"id":"1180654040","pubTimestamp":1670599860,"share":"https://www.laohu8.com/m/news/1180654040?lang=&edition=full","pubTime":"2022-12-09 23:31","market":"hk","language":"en","title":"Alibaba: International Expansion And Domestic Success","url":"https://stock-news.laohu8.com/highlight/detail?id=1180654040","media":"Seeking Alpha","summary":"SummaryAlibaba's stock decline over the past two years makes it an inexpensive growth stock.Strong c","content":"<html><head></head><body><h3>Summary</h3><ul><li>Alibaba&#39;s stock decline over the past two years makes it an inexpensive growth stock.</li><li>Strong cash position with 70% of FY22 cash repurchasing 63 million shares.</li><li>Compelling base of growth businesses outside of e-commerce, including cloud computing, digital marketing, and media.</li><li>Over 1.3 billion active annual customers, with 75% domestically in China and 25% global.</li></ul><h3>Investment Thesis</h3><p><a href=\"https://laohu8.com/S/BABA\">Alibaba Group</a> is a Chinese multinational firm specializing in e-commerce solutions but has since branched out into software as a service (SaaS), logistics, and media.</p><p>Despite some macro headwinds and the extreme zero Covid policy in China that created stagnate traffic, overall revenue increased by 22% year over year in FY22. This was primarily driven by geographic expansion into rural areas of China and an increase in the order size per customer.</p><p>Cognizant of the geopolitical risks, we believe that Alibaba is a good speculative growth investment given the combination of low valuation, high growth and high risk. Alibaba has a tight grip on the domestic Chinese market, with 903 million active retail customers annually. Moreover, with the growing demand for cloud solutions and domestic logistics, Alibaba still has room to expand its market domestically and internationally. Should they capitalize on this, they could become a global powerhouse across e-commerce and logistics operations.</p><p>EFV= E2023 EPS times P/E (Price / Earnings Ratio)</p><p>EFV = $7.00 X 16.0 = $112.00</p><h3><img src=\"https://static.tigerbbs.com/2072d1c6e6a2af82aa18979e87368719\" tg-width=\"636\" tg-height=\"147\" referrerpolicy=\"no-referrer\"/>Domestic and International Commerce</h3><p>COVID-19 restrictions in China are ongoing and incredibly strict. This has caused stagnant domestic revenue year over year and a decrease in customer engagement by 7%. However, consumer services including mapping and integrated commerce (Amap/Koubei), travel (Fliggy), and food delivery (Ele.me), had much stronger growth, with 21% year-over-year revenue growth. This was primarily driven by stricter lockdowns which caused much higher average order value per customer.</p><p>In FY22, Alibaba had 903 million active annual retail customers (AACs) across its various businesses. Alibaba had 98% retention of customers who spent at least $1,500 USD in FY21. These high-spending customers represent about 15% of AACs. With the addition of a more robust logistics network with Cainiao discussed below, 70% of new active annual customers were from less developed areas of China. More than 50% of Taocaicai, a direct-from-producer grocery and consumer staples provider were first-time buyers. Taobao, a hybrid of Etsy and eBay, had a 100% year-over-year increase in orders.</p><p>Cainiao is a primarily domestic, but expanding international, logistics and supply chain firm that offers delivery solutions. Year over year it had an increase of 36% in revenue (26%, excluding internal Alibaba transfers), equally driven by lockdowns forcing more domestic businesses to use e-commerce and virtual fulfillment solutions. International expansion has been ongoing. On average, 4.5 million parcels per day were moved internationally through the 9 parcel hubs globally. This figure is down approximately 500,000 from FY21, likely driven by a portion of the international air cargo fleet being Russian-registered and operated.</p><p>International e-commerce saw a 3% year-over-year increase in orders. Trendyol primarily drove this, a Turkish platform, 90% owned by Alibaba. In international wholesale markets, Alibaba had a 6% year-over-year increase in orders. In FY22, this amounted to 305 million annual active customers.</p><h3><img src=\"https://static.tigerbbs.com/affb544001bfbd48ea9102faf53551d3\" tg-width=\"640\" tg-height=\"384\" referrerpolicy=\"no-referrer\"/>Alibaba Cloud and Digital Media</h3><p>Alibaba cloud operates as an infrastructure as a service (IaaS)/software as a service (SaaS) hybrid business, providing private and public cloud services to businesses. While this has seen some softening of demand, it still had a 4% year-over-year growth. In addition, while globally AWS and Azure still dominate, Chinese firms expressed a 70% preference for Chinese-owned providers.</p><p>Chinese internet infrastructure for companies is still largely dominated by traditional internal server architecture, with the SaaS market remaining tiny at just $5.2 billion. For reference, the US market for SaaS is over $120 billion. The total addressable market for cloud service providers is expected to grow to $30 to $70 billion by 2025 with public cloud accounting for 45% of this addressable market, and 55% being private cloud.</p><p>Alibaba operates a growing digital media operation, encompassing production operation Alibaba Pictures and video streaming service Youku. Combined these segments saw a 4% revenue growth.</p><h3>Final Thoughts</h3><p>In FY22, Alibaba reached the long-term strategic goal to serve 1 billion consumers in China and raised its goal to facilitate RMB10 trillion of annual consumption in China ($1.4 Trillion USD). In FY22 it facilitated RMB8 trillion ($1.3 Trillion USD). While geopolitical risk is always something to keep in mind, Alibaba is a dominant force in domestic Chinese retail and logistics.</p><p><img src=\"https://static.tigerbbs.com/3ec9432966ea3f24e114ffda4706168f\" tg-width=\"640\" tg-height=\"364\" referrerpolicy=\"no-referrer\"/>Alibaba still has room to expand its market domestically and internationally, especially within the logistics and cloud spaces.</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>Alibaba: International Expansion And Domestic Success</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\">\nAlibaba: International Expansion And Domestic Success\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-09 23:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4563431-alibaba-stock-international-expansion-domestic-success><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAlibaba's stock decline over the past two years makes it an inexpensive growth stock.Strong cash position with 70% of FY22 cash repurchasing 63 million shares.Compelling base of growth ...</p>\n\n<a href=\"https://seekingalpha.com/article/4563431-alibaba-stock-international-expansion-domestic-success\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-SW"},"source_url":"https://seekingalpha.com/article/4563431-alibaba-stock-international-expansion-domestic-success","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180654040","content_text":"SummaryAlibaba's stock decline over the past two years makes it an inexpensive growth stock.Strong cash position with 70% of FY22 cash repurchasing 63 million shares.Compelling base of growth businesses outside of e-commerce, including cloud computing, digital marketing, and media.Over 1.3 billion active annual customers, with 75% domestically in China and 25% global.Investment ThesisAlibaba Group is a Chinese multinational firm specializing in e-commerce solutions but has since branched out into software as a service (SaaS), logistics, and media.Despite some macro headwinds and the extreme zero Covid policy in China that created stagnate traffic, overall revenue increased by 22% year over year in FY22. This was primarily driven by geographic expansion into rural areas of China and an increase in the order size per customer.Cognizant of the geopolitical risks, we believe that Alibaba is a good speculative growth investment given the combination of low valuation, high growth and high risk. Alibaba has a tight grip on the domestic Chinese market, with 903 million active retail customers annually. Moreover, with the growing demand for cloud solutions and domestic logistics, Alibaba still has room to expand its market domestically and internationally. Should they capitalize on this, they could become a global powerhouse across e-commerce and logistics operations.EFV= E2023 EPS times P/E (Price / Earnings Ratio)EFV = $7.00 X 16.0 = $112.00Domestic and International CommerceCOVID-19 restrictions in China are ongoing and incredibly strict. This has caused stagnant domestic revenue year over year and a decrease in customer engagement by 7%. However, consumer services including mapping and integrated commerce (Amap/Koubei), travel (Fliggy), and food delivery (Ele.me), had much stronger growth, with 21% year-over-year revenue growth. This was primarily driven by stricter lockdowns which caused much higher average order value per customer.In FY22, Alibaba had 903 million active annual retail customers (AACs) across its various businesses. Alibaba had 98% retention of customers who spent at least $1,500 USD in FY21. These high-spending customers represent about 15% of AACs. With the addition of a more robust logistics network with Cainiao discussed below, 70% of new active annual customers were from less developed areas of China. More than 50% of Taocaicai, a direct-from-producer grocery and consumer staples provider were first-time buyers. Taobao, a hybrid of Etsy and eBay, had a 100% year-over-year increase in orders.Cainiao is a primarily domestic, but expanding international, logistics and supply chain firm that offers delivery solutions. Year over year it had an increase of 36% in revenue (26%, excluding internal Alibaba transfers), equally driven by lockdowns forcing more domestic businesses to use e-commerce and virtual fulfillment solutions. International expansion has been ongoing. On average, 4.5 million parcels per day were moved internationally through the 9 parcel hubs globally. This figure is down approximately 500,000 from FY21, likely driven by a portion of the international air cargo fleet being Russian-registered and operated.International e-commerce saw a 3% year-over-year increase in orders. Trendyol primarily drove this, a Turkish platform, 90% owned by Alibaba. In international wholesale markets, Alibaba had a 6% year-over-year increase in orders. In FY22, this amounted to 305 million annual active customers.Alibaba Cloud and Digital MediaAlibaba cloud operates as an infrastructure as a service (IaaS)/software as a service (SaaS) hybrid business, providing private and public cloud services to businesses. While this has seen some softening of demand, it still had a 4% year-over-year growth. In addition, while globally AWS and Azure still dominate, Chinese firms expressed a 70% preference for Chinese-owned providers.Chinese internet infrastructure for companies is still largely dominated by traditional internal server architecture, with the SaaS market remaining tiny at just $5.2 billion. For reference, the US market for SaaS is over $120 billion. The total addressable market for cloud service providers is expected to grow to $30 to $70 billion by 2025 with public cloud accounting for 45% of this addressable market, and 55% being private cloud.Alibaba operates a growing digital media operation, encompassing production operation Alibaba Pictures and video streaming service Youku. Combined these segments saw a 4% revenue growth.Final ThoughtsIn FY22, Alibaba reached the long-term strategic goal to serve 1 billion consumers in China and raised its goal to facilitate RMB10 trillion of annual consumption in China ($1.4 Trillion USD). In FY22 it facilitated RMB8 trillion ($1.3 Trillion USD). While geopolitical risk is always something to keep in mind, Alibaba is a dominant force in domestic Chinese retail and logistics.Alibaba still has room to expand its market domestically and internationally, especially within the logistics and cloud spaces.","news_type":1},"isVote":1,"tweetType":1,"viewCount":234,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9962509013,"gmtCreate":1669796271633,"gmtModify":1676538245033,"author":{"id":"3580024367177542","authorId":"3580024367177542","name":"ISSEY1413","avatar":"https://static.tigerbbs.com/3aae359514ad4455bfc28cf62f608a5e","crmLevel":6,"crmLevelSwitch":1},"themes":[],"htmlText":"[Great]&nbsp;[Great]&nbsp;[Great]&nbsp;[Great]&nbsp;[Great]&nbsp;","listText":"[Great]&nbsp;[Great]&nbsp;[Great]&nbsp;[Great]&nbsp;[Great]&nbsp;","text":"[Great] [Great] [Great] [Great] [Great]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9962509013","repostId":"1173876241","repostType":2,"repost":{"id":"1173876241","pubTimestamp":1669735462,"share":"https://www.laohu8.com/m/news/1173876241?lang=&edition=full","pubTime":"2022-11-29 23:24","market":"us","language":"en","title":"Alibaba: Candidate For The Record Book Of Mispriced Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1173876241","media":"Seeking Alpha","summary":"SummaryWhile top line growth is now close to zero, Alibaba could increase operating income, earnings","content":"<html><head></head><body><p>Summary</p><ul><li>While top line growth is now close to zero, Alibaba could increase operating income, earnings per share, and free cash flow at a high pace.</li><li>Despite different risks continuing to exist for Alibaba, the growth potential for the different business segments remains high.</li><li>Alibaba is focusing on share buybacks, which is a good move considering its deeply undervalued share price.</li></ul><p>I must be honest. So far, my investment in as well as my articles about Alibaba Group Holding Limited (NYSE:BABA) have been nothing but a catastrophe. Since my last article, the stock price declined 31% and since the article in January 2022, the stock declined 37%. I built my position in Alibaba over time but so far, I didn’t make any money. I also must admit that I did not expect Alibaba to decline so steeply. At least when getting close to $100, I assumed we hit the bottom and could not imagine Alibaba declining lower.</p><p>However, my long-term investment thesis did not change. I am still long-term bullish about Alibaba and in my opinion the market is completely mispricing the stock and just focusing on the risks while completely ignoring the cash generating business and existing growth potential.</p><h3>Quarterly Results</h3><p>About two weeks ago, Alibaba reported second quarter results for fiscal 2022. And while it missed on revenue expectations by $490 million, it could beat earnings per ADS by $0.17. When looking at the quarterly results, I will report the numbers in Renminbi.</p><p>Although growth slowed down, Alibaba could still increase revenue from RMB 200,690 million in the same quarter last year to RMB 207,176 million this quarter resulting in 3.2% year-over-year growth. Adjusted EBITDA increased from RMB 34,840 million in Q2/21 to RMB 43,311 million in Q2/22 – resulting in 24.3% year-over-year growth. And finally, diluted earnings per share almost quadrupled from RMB 0.25 in the same quarter last year to RMB 0.97 this quarter. When looking at non-GAAP diluted earnings per share, we saw an increase of 15% YoY from RMB 1.40 in the same quarter last year to RMB 1.61 this quarter. And finally, free cash flow increased from RMB 22,239 million in Q2/21 to RMB 35,709 million in Q2/22 – resulting in 60.6% year-over-year growth.</p><p><img src=\"https://static.tigerbbs.com/78baaf1cc15acbf0419b0de8a14fb12b\" tg-width=\"640\" tg-height=\"359\" referrerpolicy=\"no-referrer\"/>When looking at the different segments, the biggest part of revenue is still stemming from China commerce, which generated RMB 135,431 million in revenue (a decline of 1% year-over-year). This segment is responsible for the biggest part of adjusted EBITDA (RMB 43,980 million). International Commerce could generate RMB 15,747 million in revenue, resulting in 4% YoY growth and Local Consumer Services generated revenue of RMB 13,073 million resulting in 21% YoY growth. However, both segments are still not profitable and generated negative EBITDA. Cloud could generate RMB 20,757 million in revenue (increasing 4% year-over-year growth) and adjusted EBITDA was RMB 434 million. Cainiao could generate revenue of RMB 13,367 million resulting in 36% year-over-year growth and after reporting a loss of in the same quarter last year the segment reported an adjusted EBITDA of RMB 125 million. And finally, Digital media and entertainment could generate RMB 8,392 million in revenue (resulting in 4% YoY growth). However, the segment was also not profitable.</p><p><img src=\"https://static.tigerbbs.com/2e016228f4be40a684f90dd4cc0d784a\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/>Additionally, growth from its 11.11 Global Shopping Event slowed down as well and Alibaba could only report results in line with last year’s gross merchandise volume performance. During the last earnings call, Alibaba also commented on the last Singles Day:</p><p>During our recent 11.11 Global Shopping Festival, Taobao and Tmall&#39;s total GMV was in line with the performance last year during the same period. Initial fruits of the operation strategies outlined just now were seen during November 11. More than 600 million users engaged with our November 11 related contents, a single-digit growth year-on-year. Although, the total number of buyers declined compared to the same period last year, the average GMV per person increased.</p><p>Management also mentioned three factors which had a negative impact on the results. First, the warmer than usual temperature in China probably led to fewer people shopping online. Second, about 15% of delivery areas across China experienced abnormal or suspended logistic services, which had a negative effect. And finally, other merchants were also pushing hard on 11.11 and probably took away some market share from Alibaba.</p><h3>Headwinds</h3><p>While Alibaba is talking about a solid quarter, they are also acknowledging the difficulties for Alibaba during the last earnings call:</p><p>We delivered a solid quarter in a macro environment full of uncertainty. The ongoing resurgence of COVID-19, geopolitical tension, inflation, and currency depreciation, the convergence of all these forces that created considerable difficulties for business operations.</p><p>And one of the major problems in China is still COVID-19. Right now, numbers are increasing dramatically again – and we must assume this will have a negative impact on Alibaba in the current quarter as it creates huge challenges for logistics.</p><h3><img src=\"https://static.tigerbbs.com/e5809b3db2fbbe959366e7e5747713f2\" tg-width=\"640\" tg-height=\"451\" referrerpolicy=\"no-referrer\"/>Long-Term Growth</h3><p>Growth for Alibaba is clearly slowing down right now - as it does for almost every technology company around the world. As we must assume the low growth rates (or even declining numbers) will last for several quarters (maybe even a few years) this is a temporary headwind due to the economy slowing down and the looming recession. Nevertheless, I remain confident that the long-term outlook should be bullish, and Alibaba’s management is also optimistic about the growth potential of the different business sectors.</p><p><img src=\"https://static.tigerbbs.com/8dbac2dcf4e4f48e3d631c3a9120bab3\" tg-width=\"640\" tg-height=\"297\" referrerpolicy=\"no-referrer\"/>The highest growth rates might be achieved by the cloud business, where Alibaba is clear market leader in China. In 2021, Alibaba had a market share of 37% ahead of competitors Huawei – which has a market share of 18% - and Tencent (OTCPK:TCEHY) – which has a market share of 17%. And while I don’t think Alibaba will be able to gain market shares (as other, strong competitors are moving in the space), the public cloud market is expected to triple in the coming years – and Alibaba can achieve high growth rates by just keeping its market share stable. In a study about the Chinese cloud market, McKinsey writes:</p><p>To date, China’s cloud adoption has been led largely by consumer-facing companies, which need elastic, on-demand access to unlimited computing power to help them respond to huge fluctuations in customer demand. During China’s Singles’ Day shopping festival, for instance, e-commerce traffic, transactions, and gross merchandise volumes can reach up to 30 times normal daily levels. (…) Consumer-driven growth will remain an important driver of cloud adoption, but we believe the next wave of migration could be spearheaded by China’s critical industrial and manufacturing sectors.</p><p>But not only the cloud business of Alibaba can grow at a high pace. Its China commerce business, which is generating most of Alibaba’s revenue and responsible for its profitability, also has growth potential going forward – despite the declining Chinese population. While the population is declining, the share of Chinese population living in poverty is also declining. And I am already using the definitions of poverty adopted in upper-middle-income countries. In 2019, about 25% of population still lived in poverty in China (in urban areas only 16%). And with that percentage continuing to go down, the number of potential shoppers for Alibaba will increase.</p><p><img src=\"https://static.tigerbbs.com/baff5be28b9b9bfc4dfdd1e92c109996\" tg-width=\"640\" tg-height=\"451\" referrerpolicy=\"no-referrer\"/>In my last article about JD.com, Inc., I already mentioned that Chinese consumers are expected to shop more online in the years to come. According to an Accenture study about Chinese consumer insights, most people will either keep their personal frequency of online shopping unchanged (49%) or increase the frequency of online shopping (44%).</p><p><img src=\"https://static.tigerbbs.com/92ae88cd63f9723d8ed8ec370eebccf7\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/>And the same study is also showing that the per capita disposable income of urban residents is continuously increasing during the last decade. And even when per capita consumption expenditures declined slightly in 2020 (due to COVID-19), this number is also increasing with a steady pace.</p><p><img src=\"https://static.tigerbbs.com/2f02c27b7c2c4f411e620779d9dfe359\" tg-width=\"640\" tg-height=\"507\" referrerpolicy=\"no-referrer\"/>International Commerce is also expected to grow with a high pace. Alibaba is focusing on the South Asia e-commerce market, which is expected to grow with a high pace. The market size will increase with a CAGR of 27% between 2020 and 2025 to $260 billion (according to Alibaba’s Investor Day 2021 presentation). And Lazada is not only well-positioned, but it also continued to improve monetization rate and was also enhancing operating efficiency. Additionally, during the last quarter, loss per order for Lazada narrowed by 25% compared to the same quarter last year. And the International commerce segment is close to being profitable.</p><p>And finally, we should not forget the economic moat Alibaba has built around its business. During the last earnings call, management made the following statement:</p><p>After many years of operation, Taobao, Tmall is now deeply entrenched in our users&#39; mind as the shopping destination. We are focused on user engagement on our platform by enhancing the customer journey across search, algorithm-driven discovery recommendations, live streaming and other engagement features (…)</p><p>Number two, we further consolidate the scale and the stickiness of our most valuable consumer group. For the 12 months ended December 30, 2022, the number of consumers who each spent over RMB 10,000 on top on Taobao and Tmall remain around 124 million with a retention rate of 98%. 88VIP membership population held steady at 25 million this quarter, with solid membership retention and growth in GMV contribution.</p><p>Number three, we improved consumer satisfaction by continually investing in customer service during and after services and the logistics service experiences, such as doorstep delivery of orders as required.</p><p>Alibaba clearly has a wide economic moat based on cost advantages – the company is one of the major e-commerce players in China and the cost advantages are hard to match by smaller competitors. Aside from cost advantages, Alibaba is also profiting from its brand name(s) and for its cloud business switching costs come into play. After choosing a cloud service it usually costs time and money (which businesses are not willing to spend) to move to a competitor – and this is creating a stickiness in favor of Alibaba.</p><h3>Share Repurchases</h3><p>In the last few quarters, Alibaba increased its share repurchase program, which was certainly a good move by Alibaba considering the steeply declining share price. Since June 2021 (15 months ago), the number of outstanding shares was decreased from 2,755 million to 2,646 million right now – resulting in a decline of 4%.</p><p><img src=\"https://static.tigerbbs.com/0af5c02ed6507d0f66fc07aaed807035\" tg-width=\"635\" tg-height=\"435\" referrerpolicy=\"no-referrer\"/>And it is good that Alibaba is buying back shares and the remaining $7 billion share repurchase program was extended by another $15 billion. But in my opinion, they should be more aggressive and use the cash reserves for share buybacks – at least in parts. On September 30, 2022, the company had RMB 206.7 billion in cash and cash equivalents as well as RMB 270.2 billion in short-term investments. At current share prices, the company could repurchase 32% of its outstanding shares and Alibaba should certainly not use all its liquid resources for share buybacks. But using cash to repurchase about 10% of outstanding shares would be a smart move in my opinion. Additionally, Alibaba is generating enough free cash flow annually to repurchase more than 10% of the outstanding shares (of course this will change with a higher share price).</p><h3>Intrinsic Value Calculation</h3><p>In every single one of my articles, I basically argued that Alibaba is undervalued. And I will stick to my guns – the company is undervalued and remains undervalued. Even when calculating with extremely cautious assumptions, Alibaba is clearly trading below its intrinsic value.</p><p>In the last two quarters, Alibaba generated a free cash flow of $8,137 million and in the last annual results the company reported a free cash flow of $15,597 million. As basis for our calculation, we therefore assume a free cash flow of $16 billion. And for the years to come, we assume 6% growth till perpetuity which leads to an intrinsic value of $151.23 for Alibaba.</p><p>And – like I said above – theses assumptions are extremely cautious. Not only did Alibaba report already much higher free cash flow numbers in the past (as high as $26 billion), it also reported much higher growth rates in the past. And for the years to come there are several growth drivers: First, Alibaba will be able to grow its top line again (see section above). Second, despite constantly declining margins in the past, the business will at some point be able to reduce the current high spendings on expansions and be more profitable again. And finally, Alibaba can use share buybacks (especially right now) and spend its cash on the balance sheet as well as the generated free cash flow to repurchase shares. This by itself is enough to lead to 6% growth right now.</p><p><img src=\"https://static.tigerbbs.com/66d4ee3047c7afdae4d9e6591ea506f8\" tg-width=\"635\" tg-height=\"433\" referrerpolicy=\"no-referrer\"/>And finally, we should not forget, that Alibaba is trading for a P/FCF ratio of 8.7 right now – although free cash flow declined almost 50% compared to previous levels. These are absurd valuation levels for a business as Alibaba – despite risks surrounding the business.</p><h3>Conclusion</h3><p>I know I have been wrong about Alibaba in the last few quarters. But first of all, the horrible stock performance of the last few quarters does not mean my thesis – which is based on the fundamentals of the business – is wrong. And second, investing is a marathon and not a sprint. I remain extremely bullish about Alibaba.</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>Alibaba: Candidate For The Record Book Of Mispriced 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\">\nAlibaba: Candidate For The Record Book Of Mispriced Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-29 23:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4561046-alibaba-candidate-for-the-record-book-of-mispriced-stocks><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryWhile top line growth is now close to zero, Alibaba could increase operating income, earnings per share, and free cash flow at a high pace.Despite different risks continuing to exist for ...</p>\n\n<a href=\"https://seekingalpha.com/article/4561046-alibaba-candidate-for-the-record-book-of-mispriced-stocks\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-SW","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4561046-alibaba-candidate-for-the-record-book-of-mispriced-stocks","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1173876241","content_text":"SummaryWhile top line growth is now close to zero, Alibaba could increase operating income, earnings per share, and free cash flow at a high pace.Despite different risks continuing to exist for Alibaba, the growth potential for the different business segments remains high.Alibaba is focusing on share buybacks, which is a good move considering its deeply undervalued share price.I must be honest. So far, my investment in as well as my articles about Alibaba Group Holding Limited (NYSE:BABA) have been nothing but a catastrophe. Since my last article, the stock price declined 31% and since the article in January 2022, the stock declined 37%. I built my position in Alibaba over time but so far, I didn’t make any money. I also must admit that I did not expect Alibaba to decline so steeply. At least when getting close to $100, I assumed we hit the bottom and could not imagine Alibaba declining lower.However, my long-term investment thesis did not change. I am still long-term bullish about Alibaba and in my opinion the market is completely mispricing the stock and just focusing on the risks while completely ignoring the cash generating business and existing growth potential.Quarterly ResultsAbout two weeks ago, Alibaba reported second quarter results for fiscal 2022. And while it missed on revenue expectations by $490 million, it could beat earnings per ADS by $0.17. When looking at the quarterly results, I will report the numbers in Renminbi.Although growth slowed down, Alibaba could still increase revenue from RMB 200,690 million in the same quarter last year to RMB 207,176 million this quarter resulting in 3.2% year-over-year growth. Adjusted EBITDA increased from RMB 34,840 million in Q2/21 to RMB 43,311 million in Q2/22 – resulting in 24.3% year-over-year growth. And finally, diluted earnings per share almost quadrupled from RMB 0.25 in the same quarter last year to RMB 0.97 this quarter. When looking at non-GAAP diluted earnings per share, we saw an increase of 15% YoY from RMB 1.40 in the same quarter last year to RMB 1.61 this quarter. And finally, free cash flow increased from RMB 22,239 million in Q2/21 to RMB 35,709 million in Q2/22 – resulting in 60.6% year-over-year growth.When looking at the different segments, the biggest part of revenue is still stemming from China commerce, which generated RMB 135,431 million in revenue (a decline of 1% year-over-year). This segment is responsible for the biggest part of adjusted EBITDA (RMB 43,980 million). International Commerce could generate RMB 15,747 million in revenue, resulting in 4% YoY growth and Local Consumer Services generated revenue of RMB 13,073 million resulting in 21% YoY growth. However, both segments are still not profitable and generated negative EBITDA. Cloud could generate RMB 20,757 million in revenue (increasing 4% year-over-year growth) and adjusted EBITDA was RMB 434 million. Cainiao could generate revenue of RMB 13,367 million resulting in 36% year-over-year growth and after reporting a loss of in the same quarter last year the segment reported an adjusted EBITDA of RMB 125 million. And finally, Digital media and entertainment could generate RMB 8,392 million in revenue (resulting in 4% YoY growth). However, the segment was also not profitable.Additionally, growth from its 11.11 Global Shopping Event slowed down as well and Alibaba could only report results in line with last year’s gross merchandise volume performance. During the last earnings call, Alibaba also commented on the last Singles Day:During our recent 11.11 Global Shopping Festival, Taobao and Tmall's total GMV was in line with the performance last year during the same period. Initial fruits of the operation strategies outlined just now were seen during November 11. More than 600 million users engaged with our November 11 related contents, a single-digit growth year-on-year. Although, the total number of buyers declined compared to the same period last year, the average GMV per person increased.Management also mentioned three factors which had a negative impact on the results. First, the warmer than usual temperature in China probably led to fewer people shopping online. Second, about 15% of delivery areas across China experienced abnormal or suspended logistic services, which had a negative effect. And finally, other merchants were also pushing hard on 11.11 and probably took away some market share from Alibaba.HeadwindsWhile Alibaba is talking about a solid quarter, they are also acknowledging the difficulties for Alibaba during the last earnings call:We delivered a solid quarter in a macro environment full of uncertainty. The ongoing resurgence of COVID-19, geopolitical tension, inflation, and currency depreciation, the convergence of all these forces that created considerable difficulties for business operations.And one of the major problems in China is still COVID-19. Right now, numbers are increasing dramatically again – and we must assume this will have a negative impact on Alibaba in the current quarter as it creates huge challenges for logistics.Long-Term GrowthGrowth for Alibaba is clearly slowing down right now - as it does for almost every technology company around the world. As we must assume the low growth rates (or even declining numbers) will last for several quarters (maybe even a few years) this is a temporary headwind due to the economy slowing down and the looming recession. Nevertheless, I remain confident that the long-term outlook should be bullish, and Alibaba’s management is also optimistic about the growth potential of the different business sectors.The highest growth rates might be achieved by the cloud business, where Alibaba is clear market leader in China. In 2021, Alibaba had a market share of 37% ahead of competitors Huawei – which has a market share of 18% - and Tencent (OTCPK:TCEHY) – which has a market share of 17%. And while I don’t think Alibaba will be able to gain market shares (as other, strong competitors are moving in the space), the public cloud market is expected to triple in the coming years – and Alibaba can achieve high growth rates by just keeping its market share stable. In a study about the Chinese cloud market, McKinsey writes:To date, China’s cloud adoption has been led largely by consumer-facing companies, which need elastic, on-demand access to unlimited computing power to help them respond to huge fluctuations in customer demand. During China’s Singles’ Day shopping festival, for instance, e-commerce traffic, transactions, and gross merchandise volumes can reach up to 30 times normal daily levels. (…) Consumer-driven growth will remain an important driver of cloud adoption, but we believe the next wave of migration could be spearheaded by China’s critical industrial and manufacturing sectors.But not only the cloud business of Alibaba can grow at a high pace. Its China commerce business, which is generating most of Alibaba’s revenue and responsible for its profitability, also has growth potential going forward – despite the declining Chinese population. While the population is declining, the share of Chinese population living in poverty is also declining. And I am already using the definitions of poverty adopted in upper-middle-income countries. In 2019, about 25% of population still lived in poverty in China (in urban areas only 16%). And with that percentage continuing to go down, the number of potential shoppers for Alibaba will increase.In my last article about JD.com, Inc., I already mentioned that Chinese consumers are expected to shop more online in the years to come. According to an Accenture study about Chinese consumer insights, most people will either keep their personal frequency of online shopping unchanged (49%) or increase the frequency of online shopping (44%).And the same study is also showing that the per capita disposable income of urban residents is continuously increasing during the last decade. And even when per capita consumption expenditures declined slightly in 2020 (due to COVID-19), this number is also increasing with a steady pace.International Commerce is also expected to grow with a high pace. Alibaba is focusing on the South Asia e-commerce market, which is expected to grow with a high pace. The market size will increase with a CAGR of 27% between 2020 and 2025 to $260 billion (according to Alibaba’s Investor Day 2021 presentation). And Lazada is not only well-positioned, but it also continued to improve monetization rate and was also enhancing operating efficiency. Additionally, during the last quarter, loss per order for Lazada narrowed by 25% compared to the same quarter last year. And the International commerce segment is close to being profitable.And finally, we should not forget the economic moat Alibaba has built around its business. During the last earnings call, management made the following statement:After many years of operation, Taobao, Tmall is now deeply entrenched in our users' mind as the shopping destination. We are focused on user engagement on our platform by enhancing the customer journey across search, algorithm-driven discovery recommendations, live streaming and other engagement features (…)Number two, we further consolidate the scale and the stickiness of our most valuable consumer group. For the 12 months ended December 30, 2022, the number of consumers who each spent over RMB 10,000 on top on Taobao and Tmall remain around 124 million with a retention rate of 98%. 88VIP membership population held steady at 25 million this quarter, with solid membership retention and growth in GMV contribution.Number three, we improved consumer satisfaction by continually investing in customer service during and after services and the logistics service experiences, such as doorstep delivery of orders as required.Alibaba clearly has a wide economic moat based on cost advantages – the company is one of the major e-commerce players in China and the cost advantages are hard to match by smaller competitors. Aside from cost advantages, Alibaba is also profiting from its brand name(s) and for its cloud business switching costs come into play. After choosing a cloud service it usually costs time and money (which businesses are not willing to spend) to move to a competitor – and this is creating a stickiness in favor of Alibaba.Share RepurchasesIn the last few quarters, Alibaba increased its share repurchase program, which was certainly a good move by Alibaba considering the steeply declining share price. Since June 2021 (15 months ago), the number of outstanding shares was decreased from 2,755 million to 2,646 million right now – resulting in a decline of 4%.And it is good that Alibaba is buying back shares and the remaining $7 billion share repurchase program was extended by another $15 billion. But in my opinion, they should be more aggressive and use the cash reserves for share buybacks – at least in parts. On September 30, 2022, the company had RMB 206.7 billion in cash and cash equivalents as well as RMB 270.2 billion in short-term investments. At current share prices, the company could repurchase 32% of its outstanding shares and Alibaba should certainly not use all its liquid resources for share buybacks. But using cash to repurchase about 10% of outstanding shares would be a smart move in my opinion. Additionally, Alibaba is generating enough free cash flow annually to repurchase more than 10% of the outstanding shares (of course this will change with a higher share price).Intrinsic Value CalculationIn every single one of my articles, I basically argued that Alibaba is undervalued. And I will stick to my guns – the company is undervalued and remains undervalued. Even when calculating with extremely cautious assumptions, Alibaba is clearly trading below its intrinsic value.In the last two quarters, Alibaba generated a free cash flow of $8,137 million and in the last annual results the company reported a free cash flow of $15,597 million. As basis for our calculation, we therefore assume a free cash flow of $16 billion. And for the years to come, we assume 6% growth till perpetuity which leads to an intrinsic value of $151.23 for Alibaba.And – like I said above – theses assumptions are extremely cautious. Not only did Alibaba report already much higher free cash flow numbers in the past (as high as $26 billion), it also reported much higher growth rates in the past. And for the years to come there are several growth drivers: First, Alibaba will be able to grow its top line again (see section above). Second, despite constantly declining margins in the past, the business will at some point be able to reduce the current high spendings on expansions and be more profitable again. And finally, Alibaba can use share buybacks (especially right now) and spend its cash on the balance sheet as well as the generated free cash flow to repurchase shares. This by itself is enough to lead to 6% growth right now.And finally, we should not forget, that Alibaba is trading for a P/FCF ratio of 8.7 right now – although free cash flow declined almost 50% compared to previous levels. These are absurd valuation levels for a business as Alibaba – despite risks surrounding the business.ConclusionI know I have been wrong about Alibaba in the last few quarters. But first of all, the horrible stock performance of the last few quarters does not mean my thesis – which is based on the fundamentals of the business – is wrong. And second, investing is a marathon and not a sprint. I remain extremely bullish about Alibaba.","news_type":1},"isVote":1,"tweetType":1,"viewCount":128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968688169,"gmtCreate":1669209746952,"gmtModify":1676538167577,"author":{"id":"3580024367177542","authorId":"3580024367177542","name":"ISSEY1413","avatar":"https://static.tigerbbs.com/3aae359514ad4455bfc28cf62f608a5e","crmLevel":6,"crmLevelSwitch":1},"themes":[],"htmlText":"[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;","listText":"[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;","text":"[Miser] [Miser] [Miser]","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":6,"commentSize":18,"repostSize":0,"link":"https://ttm.financial/post/9968688169","repostId":"1146860364","repostType":4,"repost":{"id":"1146860364","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":1669190411,"share":"https://www.laohu8.com/m/news/1146860364?lang=&edition=full","pubTime":"2022-11-23 16:00","market":"us","language":"en","title":"UP Fintech Posts US$55.41 Million for 2022 Q3 Revenue","url":"https://stock-news.laohu8.com/highlight/detail?id=1146860364","media":"Tiger Newspress","summary":"About one-fifth of new customers with deposits are from Australia and New Zealand, indicating growin","content":"<html><head></head><body><ul><li>About one-fifth of new customers with deposits are from Australia and New Zealand, indicating growing local recognition</li></ul><ul><li>Average net deposit of newly acquired clients surpasses US$11,000 in Singapore, a sign of deepening trust</li></ul><p><a href=\"https://ttm.financial/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216690156664297%22,%22type%22:0%7D\" target=\"_blank\">Live: Tiger Brokers Q3 2022 Earnings Conference Call</a></p><p><b>Singapore and New York, November 23, 2022 — UP Fintech Holding Limited</b> (&#34;UP Fintech&#34; or the &#34;Company&#34;, Nasdaq: TIGR, and all its subsidiaries and consolidated entities), an online brokerage with a focus on redefining global investing with technologies for the next generation, announced its unaudited financial results for the three months ended September 30, 2022.</p><p>During the period, the company&#39;s revenue reached US$55.41 million, with the net income attributable to UP Fintech turning positive to US$3.34 million, and non-GAAP net income reaching US$6.63 million, up 91.3% quarter-over-quarter.</p><p>During the third quarter, the number of new customer accounts increased by 35,400, totaling 1.97 million globally, up 11.5% from the same quarter last year. The number of new customers with deposits rose by 22,700 to 754,100, up 23.2% from the same period last year.</p><p>The total trading volume from customers stood at US$78.2 billion on the company&#39;s platform, of which US$23.5 billion was on share trading, and 7.7 million options and futures contracts were made. Net asset inflow from customers exceeded US$700 million during the third quarter, and the company retained 98% of its customers with assets during the period.</p><p>Wu Tianhua, CEO and founder of UP Fintech, said, &#34;In the third quarter, the company witnessed steady sequential growth in key indicators. Our interest-related income was up by almost 70% quarter-over-quarter amid the Federal Reserve&#39;s interest rates hikes. While thanks to further improved operational efficiency, our non-GAAP net income nearly doubled, all the more showing our resilience to global macroeconomic uncertainties. Among our global markets, in Australia and New Zealand, the public recognition of our services rose significantly, with the number of new funded clients accounting for 19% of the total worldwide.&#34;</p><p>&#34;In this quarter, we brought to global investors a fractional share feature in our flagship app Tiger Trade, offering clients with limited deposits access to premium stocks at high prices, and expanding our potential user base. Nearly all US cash equity tradings were self-cleared by our proprietary infrastructure, boosting the overall clearing efficiency and lowering the costs,&#34; Wu Tianhua added.</p><p>Wu Tianhua also revealed, &#34;Looking ahead, in the fourth quarter, we will land our services in Hong Kong, where we are committed to providing investors in this global financial center with the best possible products and services. In addition, we are dedicated to allocating our global resources effectively to serve our worldwide client base well.&#34;</p><p><b>In Singapore, average net deposit of newly acquired clients up for the second consecutive quarter</b></p><p>UP Fintech&#39;s market position in Singapore continued to consolidate with consensual trust from high-worth customers. The average net deposit of newly acquired clients has grown for the second consecutive quarter, passing the US$11,000 threshold in the third quarter, while overtaking the US$9,000 one in the previous quarter.</p><p>In terms of the products we offer, the company upgraded all Singapore-registered accounts by merging share and fund trading operations, enabling the deposit in customers&#39; margin accounts for US stocks to be directed for fund trading to alleviate their liquidity restraint.</p><p>During the period, the company&#39;s cash management services in Singapore were strategically elevated to become Tiger Vault, where customers&#39; in-account deposits can be directly for shares, options, and fund trading, as well as for IPO subscriptions, a move that facilitates the asset management flow. The brand-new Tiger Vault has received positive feedback in Singapore, where the asset under management (AUM) in total was up 120.1% quarter-over-quarter, and the number of users increased by 61.3% quarter-over-quarter. These numbers underscore the diversification we strive to offer to clients against heightened volatility.</p><p>During the third quarter, by spearheading product and technological innovations, UP Fintech bagged the &#34;Fintech - Brokerage&#34; award at the SBR Technology Excellence Awards 2022 from the Singapore Business Review. In the city state&#39;s &#34;Best Customer Service 2022/23&#34; survey conducted jointly by The Straits Times and research firm Statista, the company&#39;s excellent customer service was recognized in the trading and brokerage services sub-category, under Real Estate and Banking. As of now, in Singapore, the company keeps 21.5 hours of customer care services on a daily basis, through a combination of channels including hotline, e-mail, social media platforms, and in-app chat. The company also received &#34;Investor&#39;s Choice Awards 2022: Best Retail Broker&#34; from the Securities Investors Association (Singapore).</p><p>In Southeast Asia, the company announced its Official Sponsor status for the ongoing AFF Mitsubishi Electric Cup 2022, the region&#39;s biennial football tournament contested by 10 national &#34;A&#34; teams, a move that seeks to highlight the company&#39;s continued commitment to becoming a global local company and letting everyone in the world enjoy efficient and smart investing.</p><p><b>Nearly 20% of global new customers with deposits from Australia and New Zealand</b></p><p>In Australia and New Zealand, the company continued to gain momentum. In the reporting period, client acquisition sped up, with nearly 20% of all global new funded customers from the two markets. In-app feature-wise, PayID was accepted to deposit Tiger accounts in Australia in an offering to shorten the processing time. The new feature allows customers to enjoy real-time deposits all year round.</p><p>During the two quarters since the company&#39;s entry into Australia, its flagship Tiger Trade app has been trusted by more local customers. In the third quarter, the company captured the winner position in three categories including &#34;Best for Australian investors&#34;, &#34;People&#39;s choice&#34;, and &#34;Best for ETFs&#34;, from the well-known investing media outlet WeMoney.</p><p><b>Global expansion never ceases</b></p><p>The company is also ready to announce its expansion into Hong Kong starting in December, bringing the best possible smart global investing experience to investors in this global financial center. UP Fintech&#39;s subsidiary in Hong Kong holds Type I, II, IV and V licenses from the Securities and Futures Commission, qualifying the company to deal in and advise on securities and futures contracts. In total, the company holds 11 licenses and qualifications in Hong Kong.</p><p><b>US fractional share trading function lowers investing threshold</b></p><p><b>Self-developed infrastructure bears fruit</b></p><p>In the third quarter, the company&#39;s gross commission income stood at US$24.5 million, along with the interest-related income up 68.8% quarter-over-quarter to US$26.9 million.</p><p>As the company&#39;s global expansion goes deep, we remain zoomed in on investing in research and development. During the period, nearly all US cash equity tradings were self-cleared.</p><p>During the reporting period, UP Fintech launched US fractional share trading, a new feature that now supports all S&amp;P 500 stocks, removes the 1 share minimum trading unit, and lowers the trading starting point to as little as US$5. While beginner-friendly, fractional share trading&#39;s low threshold also offers an engaging global investing experience to more investors by diversifying their portfolios in a more flexible way.</p><p>In the meantime, mobile app features such as options combination analysis tools, most sought-after industries, and lists of ETFs for major markets were put on live. Among new PC/desktop features, time-weighted average price (TWAP) and volume-weighted average price (VWAP) orders were presented. With attached order and conditional order functions available, investors are able to analyze and grasp the investing trends in a timely manner.</p><p>During the period, the demand for wealth management services continued to grow steadily. The number of customers increased by 37.7% quarter-over-quarter, and the asset under management (AUM) was up by 50.8% quarter-over-quarter. The number of Fund Mall users increased by 35% quarter-over-quarter, and AUM was up by 72.7% quarter-over-quarter. Cash management products saw the number of users up by 40.2% quarter-over-quarter, and AUM up by 35.8% quarter-over-quarter.</p><p>On the investor education side, UP Fintech relentlessly promoted financial knowledge in a move to help investors adjust themselves to the volatile investing environment. During the period, the company broadcast 112 live sessions, covering a wide range of content from diving into companies&#39; earnings results, to deep analysis of various industries and companies. Over 40% of the content was specially tailored for global investors in different markets.</p><p>As of September 30, in Singapore, UP Fintech held a series of joint live broadcasts online with the Singapore Exchange, and was participated by analysts from institutions such as Standard Chartered Bank and Société Générale for their market insights. These live sessions, which have become the platform&#39;s signature content, were widely accoladed by investors. In Australia, industry analysis covering the most sought-after industries including mining, pharmaceuticals, and technology was well received, helping more local investors make better informed financial decisions, and boosting the content penetration rate to 50%.</p><p><b>Investment banking services take the lead in US IPO underwriting</b></p><p><b>ESOP business spins off with strategic investors involved</b></p><p>During the reporting period, other revenues, including investment banking and employee stock ownership plan (ESOP), reached US$4 million. The company participated in 12 Hong Kong and US IPOs, served as an underwriter in 11 of these listings, and was the lead bank in 2 US IPOs.</p><p>In the first three quarters of this year, third-party data shows that UP Fintech ranked third among all global brokerages, with 18 US IPO underwriting, and fourth by the offering size. In terms of special purpose acquisition company (SPAC) underwriting, the company ranked second globally by the offering scale of projects underwritten.</p><p>The company also honed its research capabilities by issuing 19 research reports on various sectors including e-commerce, internet, entertainment, auto-making, and cryptocurrency, indicating its in-depth analysis expertise.</p><p>UP Fintech signed 29 ESOP clients during the period, with the number of total clients added up to 393, a year-over-year increase of 50%. The primary market also resonated with the ESOP business&#39;s stellar prospects. During the quarter, strategic investors were involved in completing ESOP&#39;s angel round financing. The business is scheduled to spin off under the new brand &#34;UponeShare&#34; in the fourth quarter, with a vision of promoting digital transformation in equity management.</p><p>In this quarter, dozens of companies including Tim Hortons, Leapmotor, AIM Vaccine, and Jenscare became part of the Tiger Community, and opened enterprise accounts.</p><p>On the corporate social responsibility front, the company collaborated with WWF-Singapore on International Tiger Day to raise awareness about wildlife conservation.</p><p><b>About UP Fintech</b></p><p>UP Fintech Holding Limited (Nasdaq: TIGR), also known as Tiger Brokers, is a leading online brokerage with a focus on redefining global investing with technology for the next generation.</p><p>Founded in 2014, we relentlessly offer a superior user experience in pursuit of becoming a world-leading online brokerage, to let everyone enjoy efficient and smart investing. Currently, we offer a multitude of quality financial products and services across brokerage, employee stock ownership plan (ESOP) management, investment banking, wealth management, investor community, and investor education.</p><p>We strive to elevate financial technology R&amp;D to a new level. While we inherit the best traditions from the financial sector and blend them with the best minds of tech experts, we develop our own technology infrastructure—an aggregation that enables multi-currency trading of various products across markets, guaranteeing our reliable, secure, and scalable services are accessible to all with low latency.</p><p>In March 2019, UP Fintech was listed on Nasdaq under the ticker TIGR. As of now, we serve over 9 million users and about 2 million account holders worldwide on our flagship platform &#34;Tiger Trade&#34;, own 63 licenses and qualifications in different markets, and have over 1,000 employees on the team in Singapore, New Zealand, the US, Hong Kong Australia, and China.</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>UP Fintech Posts US$55.41 Million for 2022 Q3 Revenue</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\">\nUP Fintech Posts US$55.41 Million for 2022 Q3 Revenue\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\">2022-11-23 16:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul><li>About one-fifth of new customers with deposits are from Australia and New Zealand, indicating growing local recognition</li></ul><ul><li>Average net deposit of newly acquired clients surpasses US$11,000 in Singapore, a sign of deepening trust</li></ul><p><a href=\"https://ttm.financial/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216690156664297%22,%22type%22:0%7D\" target=\"_blank\">Live: Tiger Brokers Q3 2022 Earnings Conference Call</a></p><p><b>Singapore and New York, November 23, 2022 — UP Fintech Holding Limited</b> (&#34;UP Fintech&#34; or the &#34;Company&#34;, Nasdaq: TIGR, and all its subsidiaries and consolidated entities), an online brokerage with a focus on redefining global investing with technologies for the next generation, announced its unaudited financial results for the three months ended September 30, 2022.</p><p>During the period, the company&#39;s revenue reached US$55.41 million, with the net income attributable to UP Fintech turning positive to US$3.34 million, and non-GAAP net income reaching US$6.63 million, up 91.3% quarter-over-quarter.</p><p>During the third quarter, the number of new customer accounts increased by 35,400, totaling 1.97 million globally, up 11.5% from the same quarter last year. The number of new customers with deposits rose by 22,700 to 754,100, up 23.2% from the same period last year.</p><p>The total trading volume from customers stood at US$78.2 billion on the company&#39;s platform, of which US$23.5 billion was on share trading, and 7.7 million options and futures contracts were made. Net asset inflow from customers exceeded US$700 million during the third quarter, and the company retained 98% of its customers with assets during the period.</p><p>Wu Tianhua, CEO and founder of UP Fintech, said, &#34;In the third quarter, the company witnessed steady sequential growth in key indicators. Our interest-related income was up by almost 70% quarter-over-quarter amid the Federal Reserve&#39;s interest rates hikes. While thanks to further improved operational efficiency, our non-GAAP net income nearly doubled, all the more showing our resilience to global macroeconomic uncertainties. Among our global markets, in Australia and New Zealand, the public recognition of our services rose significantly, with the number of new funded clients accounting for 19% of the total worldwide.&#34;</p><p>&#34;In this quarter, we brought to global investors a fractional share feature in our flagship app Tiger Trade, offering clients with limited deposits access to premium stocks at high prices, and expanding our potential user base. Nearly all US cash equity tradings were self-cleared by our proprietary infrastructure, boosting the overall clearing efficiency and lowering the costs,&#34; Wu Tianhua added.</p><p>Wu Tianhua also revealed, &#34;Looking ahead, in the fourth quarter, we will land our services in Hong Kong, where we are committed to providing investors in this global financial center with the best possible products and services. In addition, we are dedicated to allocating our global resources effectively to serve our worldwide client base well.&#34;</p><p><b>In Singapore, average net deposit of newly acquired clients up for the second consecutive quarter</b></p><p>UP Fintech&#39;s market position in Singapore continued to consolidate with consensual trust from high-worth customers. The average net deposit of newly acquired clients has grown for the second consecutive quarter, passing the US$11,000 threshold in the third quarter, while overtaking the US$9,000 one in the previous quarter.</p><p>In terms of the products we offer, the company upgraded all Singapore-registered accounts by merging share and fund trading operations, enabling the deposit in customers&#39; margin accounts for US stocks to be directed for fund trading to alleviate their liquidity restraint.</p><p>During the period, the company&#39;s cash management services in Singapore were strategically elevated to become Tiger Vault, where customers&#39; in-account deposits can be directly for shares, options, and fund trading, as well as for IPO subscriptions, a move that facilitates the asset management flow. The brand-new Tiger Vault has received positive feedback in Singapore, where the asset under management (AUM) in total was up 120.1% quarter-over-quarter, and the number of users increased by 61.3% quarter-over-quarter. These numbers underscore the diversification we strive to offer to clients against heightened volatility.</p><p>During the third quarter, by spearheading product and technological innovations, UP Fintech bagged the &#34;Fintech - Brokerage&#34; award at the SBR Technology Excellence Awards 2022 from the Singapore Business Review. In the city state&#39;s &#34;Best Customer Service 2022/23&#34; survey conducted jointly by The Straits Times and research firm Statista, the company&#39;s excellent customer service was recognized in the trading and brokerage services sub-category, under Real Estate and Banking. As of now, in Singapore, the company keeps 21.5 hours of customer care services on a daily basis, through a combination of channels including hotline, e-mail, social media platforms, and in-app chat. The company also received &#34;Investor&#39;s Choice Awards 2022: Best Retail Broker&#34; from the Securities Investors Association (Singapore).</p><p>In Southeast Asia, the company announced its Official Sponsor status for the ongoing AFF Mitsubishi Electric Cup 2022, the region&#39;s biennial football tournament contested by 10 national &#34;A&#34; teams, a move that seeks to highlight the company&#39;s continued commitment to becoming a global local company and letting everyone in the world enjoy efficient and smart investing.</p><p><b>Nearly 20% of global new customers with deposits from Australia and New Zealand</b></p><p>In Australia and New Zealand, the company continued to gain momentum. In the reporting period, client acquisition sped up, with nearly 20% of all global new funded customers from the two markets. In-app feature-wise, PayID was accepted to deposit Tiger accounts in Australia in an offering to shorten the processing time. The new feature allows customers to enjoy real-time deposits all year round.</p><p>During the two quarters since the company&#39;s entry into Australia, its flagship Tiger Trade app has been trusted by more local customers. In the third quarter, the company captured the winner position in three categories including &#34;Best for Australian investors&#34;, &#34;People&#39;s choice&#34;, and &#34;Best for ETFs&#34;, from the well-known investing media outlet WeMoney.</p><p><b>Global expansion never ceases</b></p><p>The company is also ready to announce its expansion into Hong Kong starting in December, bringing the best possible smart global investing experience to investors in this global financial center. UP Fintech&#39;s subsidiary in Hong Kong holds Type I, II, IV and V licenses from the Securities and Futures Commission, qualifying the company to deal in and advise on securities and futures contracts. In total, the company holds 11 licenses and qualifications in Hong Kong.</p><p><b>US fractional share trading function lowers investing threshold</b></p><p><b>Self-developed infrastructure bears fruit</b></p><p>In the third quarter, the company&#39;s gross commission income stood at US$24.5 million, along with the interest-related income up 68.8% quarter-over-quarter to US$26.9 million.</p><p>As the company&#39;s global expansion goes deep, we remain zoomed in on investing in research and development. During the period, nearly all US cash equity tradings were self-cleared.</p><p>During the reporting period, UP Fintech launched US fractional share trading, a new feature that now supports all S&amp;P 500 stocks, removes the 1 share minimum trading unit, and lowers the trading starting point to as little as US$5. While beginner-friendly, fractional share trading&#39;s low threshold also offers an engaging global investing experience to more investors by diversifying their portfolios in a more flexible way.</p><p>In the meantime, mobile app features such as options combination analysis tools, most sought-after industries, and lists of ETFs for major markets were put on live. Among new PC/desktop features, time-weighted average price (TWAP) and volume-weighted average price (VWAP) orders were presented. With attached order and conditional order functions available, investors are able to analyze and grasp the investing trends in a timely manner.</p><p>During the period, the demand for wealth management services continued to grow steadily. The number of customers increased by 37.7% quarter-over-quarter, and the asset under management (AUM) was up by 50.8% quarter-over-quarter. The number of Fund Mall users increased by 35% quarter-over-quarter, and AUM was up by 72.7% quarter-over-quarter. Cash management products saw the number of users up by 40.2% quarter-over-quarter, and AUM up by 35.8% quarter-over-quarter.</p><p>On the investor education side, UP Fintech relentlessly promoted financial knowledge in a move to help investors adjust themselves to the volatile investing environment. During the period, the company broadcast 112 live sessions, covering a wide range of content from diving into companies&#39; earnings results, to deep analysis of various industries and companies. Over 40% of the content was specially tailored for global investors in different markets.</p><p>As of September 30, in Singapore, UP Fintech held a series of joint live broadcasts online with the Singapore Exchange, and was participated by analysts from institutions such as Standard Chartered Bank and Société Générale for their market insights. These live sessions, which have become the platform&#39;s signature content, were widely accoladed by investors. In Australia, industry analysis covering the most sought-after industries including mining, pharmaceuticals, and technology was well received, helping more local investors make better informed financial decisions, and boosting the content penetration rate to 50%.</p><p><b>Investment banking services take the lead in US IPO underwriting</b></p><p><b>ESOP business spins off with strategic investors involved</b></p><p>During the reporting period, other revenues, including investment banking and employee stock ownership plan (ESOP), reached US$4 million. The company participated in 12 Hong Kong and US IPOs, served as an underwriter in 11 of these listings, and was the lead bank in 2 US IPOs.</p><p>In the first three quarters of this year, third-party data shows that UP Fintech ranked third among all global brokerages, with 18 US IPO underwriting, and fourth by the offering size. In terms of special purpose acquisition company (SPAC) underwriting, the company ranked second globally by the offering scale of projects underwritten.</p><p>The company also honed its research capabilities by issuing 19 research reports on various sectors including e-commerce, internet, entertainment, auto-making, and cryptocurrency, indicating its in-depth analysis expertise.</p><p>UP Fintech signed 29 ESOP clients during the period, with the number of total clients added up to 393, a year-over-year increase of 50%. The primary market also resonated with the ESOP business&#39;s stellar prospects. During the quarter, strategic investors were involved in completing ESOP&#39;s angel round financing. The business is scheduled to spin off under the new brand &#34;UponeShare&#34; in the fourth quarter, with a vision of promoting digital transformation in equity management.</p><p>In this quarter, dozens of companies including Tim Hortons, Leapmotor, AIM Vaccine, and Jenscare became part of the Tiger Community, and opened enterprise accounts.</p><p>On the corporate social responsibility front, the company collaborated with WWF-Singapore on International Tiger Day to raise awareness about wildlife conservation.</p><p><b>About UP Fintech</b></p><p>UP Fintech Holding Limited (Nasdaq: TIGR), also known as Tiger Brokers, is a leading online brokerage with a focus on redefining global investing with technology for the next generation.</p><p>Founded in 2014, we relentlessly offer a superior user experience in pursuit of becoming a world-leading online brokerage, to let everyone enjoy efficient and smart investing. Currently, we offer a multitude of quality financial products and services across brokerage, employee stock ownership plan (ESOP) management, investment banking, wealth management, investor community, and investor education.</p><p>We strive to elevate financial technology R&amp;D to a new level. While we inherit the best traditions from the financial sector and blend them with the best minds of tech experts, we develop our own technology infrastructure—an aggregation that enables multi-currency trading of various products across markets, guaranteeing our reliable, secure, and scalable services are accessible to all with low latency.</p><p>In March 2019, UP Fintech was listed on Nasdaq under the ticker TIGR. As of now, we serve over 9 million users and about 2 million account holders worldwide on our flagship platform &#34;Tiger Trade&#34;, own 63 licenses and qualifications in different markets, and have over 1,000 employees on the team in Singapore, New Zealand, the US, Hong Kong Australia, and China.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TIGR":"老虎证券"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146860364","content_text":"About one-fifth of new customers with deposits are from Australia and New Zealand, indicating growing local recognitionAverage net deposit of newly acquired clients surpasses US$11,000 in Singapore, a sign of deepening trustLive: Tiger Brokers Q3 2022 Earnings Conference CallSingapore and New York, November 23, 2022 — UP Fintech Holding Limited (\"UP Fintech\" or the \"Company\", Nasdaq: TIGR, and all its subsidiaries and consolidated entities), an online brokerage with a focus on redefining global investing with technologies for the next generation, announced its unaudited financial results for the three months ended September 30, 2022.During the period, the company's revenue reached US$55.41 million, with the net income attributable to UP Fintech turning positive to US$3.34 million, and non-GAAP net income reaching US$6.63 million, up 91.3% quarter-over-quarter.During the third quarter, the number of new customer accounts increased by 35,400, totaling 1.97 million globally, up 11.5% from the same quarter last year. The number of new customers with deposits rose by 22,700 to 754,100, up 23.2% from the same period last year.The total trading volume from customers stood at US$78.2 billion on the company's platform, of which US$23.5 billion was on share trading, and 7.7 million options and futures contracts were made. Net asset inflow from customers exceeded US$700 million during the third quarter, and the company retained 98% of its customers with assets during the period.Wu Tianhua, CEO and founder of UP Fintech, said, \"In the third quarter, the company witnessed steady sequential growth in key indicators. Our interest-related income was up by almost 70% quarter-over-quarter amid the Federal Reserve's interest rates hikes. While thanks to further improved operational efficiency, our non-GAAP net income nearly doubled, all the more showing our resilience to global macroeconomic uncertainties. Among our global markets, in Australia and New Zealand, the public recognition of our services rose significantly, with the number of new funded clients accounting for 19% of the total worldwide.\"\"In this quarter, we brought to global investors a fractional share feature in our flagship app Tiger Trade, offering clients with limited deposits access to premium stocks at high prices, and expanding our potential user base. Nearly all US cash equity tradings were self-cleared by our proprietary infrastructure, boosting the overall clearing efficiency and lowering the costs,\" Wu Tianhua added.Wu Tianhua also revealed, \"Looking ahead, in the fourth quarter, we will land our services in Hong Kong, where we are committed to providing investors in this global financial center with the best possible products and services. In addition, we are dedicated to allocating our global resources effectively to serve our worldwide client base well.\"In Singapore, average net deposit of newly acquired clients up for the second consecutive quarterUP Fintech's market position in Singapore continued to consolidate with consensual trust from high-worth customers. The average net deposit of newly acquired clients has grown for the second consecutive quarter, passing the US$11,000 threshold in the third quarter, while overtaking the US$9,000 one in the previous quarter.In terms of the products we offer, the company upgraded all Singapore-registered accounts by merging share and fund trading operations, enabling the deposit in customers' margin accounts for US stocks to be directed for fund trading to alleviate their liquidity restraint.During the period, the company's cash management services in Singapore were strategically elevated to become Tiger Vault, where customers' in-account deposits can be directly for shares, options, and fund trading, as well as for IPO subscriptions, a move that facilitates the asset management flow. The brand-new Tiger Vault has received positive feedback in Singapore, where the asset under management (AUM) in total was up 120.1% quarter-over-quarter, and the number of users increased by 61.3% quarter-over-quarter. These numbers underscore the diversification we strive to offer to clients against heightened volatility.During the third quarter, by spearheading product and technological innovations, UP Fintech bagged the \"Fintech - Brokerage\" award at the SBR Technology Excellence Awards 2022 from the Singapore Business Review. In the city state's \"Best Customer Service 2022/23\" survey conducted jointly by The Straits Times and research firm Statista, the company's excellent customer service was recognized in the trading and brokerage services sub-category, under Real Estate and Banking. As of now, in Singapore, the company keeps 21.5 hours of customer care services on a daily basis, through a combination of channels including hotline, e-mail, social media platforms, and in-app chat. The company also received \"Investor's Choice Awards 2022: Best Retail Broker\" from the Securities Investors Association (Singapore).In Southeast Asia, the company announced its Official Sponsor status for the ongoing AFF Mitsubishi Electric Cup 2022, the region's biennial football tournament contested by 10 national \"A\" teams, a move that seeks to highlight the company's continued commitment to becoming a global local company and letting everyone in the world enjoy efficient and smart investing.Nearly 20% of global new customers with deposits from Australia and New ZealandIn Australia and New Zealand, the company continued to gain momentum. In the reporting period, client acquisition sped up, with nearly 20% of all global new funded customers from the two markets. In-app feature-wise, PayID was accepted to deposit Tiger accounts in Australia in an offering to shorten the processing time. The new feature allows customers to enjoy real-time deposits all year round.During the two quarters since the company's entry into Australia, its flagship Tiger Trade app has been trusted by more local customers. In the third quarter, the company captured the winner position in three categories including \"Best for Australian investors\", \"People's choice\", and \"Best for ETFs\", from the well-known investing media outlet WeMoney.Global expansion never ceasesThe company is also ready to announce its expansion into Hong Kong starting in December, bringing the best possible smart global investing experience to investors in this global financial center. UP Fintech's subsidiary in Hong Kong holds Type I, II, IV and V licenses from the Securities and Futures Commission, qualifying the company to deal in and advise on securities and futures contracts. In total, the company holds 11 licenses and qualifications in Hong Kong.US fractional share trading function lowers investing thresholdSelf-developed infrastructure bears fruitIn the third quarter, the company's gross commission income stood at US$24.5 million, along with the interest-related income up 68.8% quarter-over-quarter to US$26.9 million.As the company's global expansion goes deep, we remain zoomed in on investing in research and development. During the period, nearly all US cash equity tradings were self-cleared.During the reporting period, UP Fintech launched US fractional share trading, a new feature that now supports all S&P 500 stocks, removes the 1 share minimum trading unit, and lowers the trading starting point to as little as US$5. While beginner-friendly, fractional share trading's low threshold also offers an engaging global investing experience to more investors by diversifying their portfolios in a more flexible way.In the meantime, mobile app features such as options combination analysis tools, most sought-after industries, and lists of ETFs for major markets were put on live. Among new PC/desktop features, time-weighted average price (TWAP) and volume-weighted average price (VWAP) orders were presented. With attached order and conditional order functions available, investors are able to analyze and grasp the investing trends in a timely manner.During the period, the demand for wealth management services continued to grow steadily. The number of customers increased by 37.7% quarter-over-quarter, and the asset under management (AUM) was up by 50.8% quarter-over-quarter. The number of Fund Mall users increased by 35% quarter-over-quarter, and AUM was up by 72.7% quarter-over-quarter. Cash management products saw the number of users up by 40.2% quarter-over-quarter, and AUM up by 35.8% quarter-over-quarter.On the investor education side, UP Fintech relentlessly promoted financial knowledge in a move to help investors adjust themselves to the volatile investing environment. During the period, the company broadcast 112 live sessions, covering a wide range of content from diving into companies' earnings results, to deep analysis of various industries and companies. Over 40% of the content was specially tailored for global investors in different markets.As of September 30, in Singapore, UP Fintech held a series of joint live broadcasts online with the Singapore Exchange, and was participated by analysts from institutions such as Standard Chartered Bank and Société Générale for their market insights. These live sessions, which have become the platform's signature content, were widely accoladed by investors. In Australia, industry analysis covering the most sought-after industries including mining, pharmaceuticals, and technology was well received, helping more local investors make better informed financial decisions, and boosting the content penetration rate to 50%.Investment banking services take the lead in US IPO underwritingESOP business spins off with strategic investors involvedDuring the reporting period, other revenues, including investment banking and employee stock ownership plan (ESOP), reached US$4 million. The company participated in 12 Hong Kong and US IPOs, served as an underwriter in 11 of these listings, and was the lead bank in 2 US IPOs.In the first three quarters of this year, third-party data shows that UP Fintech ranked third among all global brokerages, with 18 US IPO underwriting, and fourth by the offering size. In terms of special purpose acquisition company (SPAC) underwriting, the company ranked second globally by the offering scale of projects underwritten.The company also honed its research capabilities by issuing 19 research reports on various sectors including e-commerce, internet, entertainment, auto-making, and cryptocurrency, indicating its in-depth analysis expertise.UP Fintech signed 29 ESOP clients during the period, with the number of total clients added up to 393, a year-over-year increase of 50%. The primary market also resonated with the ESOP business's stellar prospects. During the quarter, strategic investors were involved in completing ESOP's angel round financing. The business is scheduled to spin off under the new brand \"UponeShare\" in the fourth quarter, with a vision of promoting digital transformation in equity management.In this quarter, dozens of companies including Tim Hortons, Leapmotor, AIM Vaccine, and Jenscare became part of the Tiger Community, and opened enterprise accounts.On the corporate social responsibility front, the company collaborated with WWF-Singapore on International Tiger Day to raise awareness about wildlife conservation.About UP FintechUP Fintech Holding Limited (Nasdaq: TIGR), also known as Tiger Brokers, is a leading online brokerage with a focus on redefining global investing with technology for the next generation.Founded in 2014, we relentlessly offer a superior user experience in pursuit of becoming a world-leading online brokerage, to let everyone enjoy efficient and smart investing. Currently, we offer a multitude of quality financial products and services across brokerage, employee stock ownership plan (ESOP) management, investment banking, wealth management, investor community, and investor education.We strive to elevate financial technology R&D to a new level. While we inherit the best traditions from the financial sector and blend them with the best minds of tech experts, we develop our own technology infrastructure—an aggregation that enables multi-currency trading of various products across markets, guaranteeing our reliable, secure, and scalable services are accessible to all with low latency.In March 2019, UP Fintech was listed on Nasdaq under the ticker TIGR. As of now, we serve over 9 million users and about 2 million account holders worldwide on our flagship platform \"Tiger Trade\", own 63 licenses and qualifications in different markets, and have over 1,000 employees on the team in Singapore, New Zealand, the US, Hong Kong Australia, and China.","news_type":1},"isVote":1,"tweetType":1,"viewCount":216,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9961669515,"gmtCreate":1668939679838,"gmtModify":1676538130539,"author":{"id":"3580024367177542","authorId":"3580024367177542","name":"ISSEY1413","avatar":"https://static.tigerbbs.com/3aae359514ad4455bfc28cf62f608a5e","crmLevel":6,"crmLevelSwitch":1},"themes":[],"htmlText":"[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;","listText":"[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;","text":"[Miser] [Miser] [Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":16,"repostSize":0,"link":"https://ttm.financial/post/9961669515","repostId":"2284785084","repostType":4,"repost":{"id":"2284785084","pubTimestamp":1668905591,"share":"https://www.laohu8.com/m/news/2284785084?lang=&edition=full","pubTime":"2022-11-20 08:53","market":"us","language":"en","title":"Alphabet Vs. Meta Platforms: Which Stock Is The Better Investment?","url":"https://stock-news.laohu8.com/highlight/detail?id=2284785084","media":"Seeking Alpha","summary":"SummaryAlphabet and Meta are two giants in highly competitive markets, both with their specific risk","content":"<html><head></head><body><p>Summary</p><ul><li>Alphabet and Meta are two giants in highly competitive markets, both with their specific risk profiles, while also offering massive opportunities to investors.</li><li>GOOG reported a superior performance over the past years, while both stocks may offer great opportunities for investors, the ability to achieve the targets and the optionality will be determinant.</li><li>Both companies share the same Achilles heel, in an industry that is forecasted to grow substantially over the next decade, while it also exposes their revenue stream to demand-driven fluctuations.</li><li>This article focuses on long-term investment opportunities based on in-depth fundamental analysis and I offer two valuation models structured around multiple outcome scenarios.</li></ul><p>The technology sector is among the worst performers in the past year, losing over 30% of its value. While many stocks may have been excessively hyped during the massive rebound out of the pandemic-lows, others have been under pressure because of rising inflation, a higher cost of capital, bottlenecks among the supply chains, as well as headwinds caused by pandemic-related restrictions, geo-political tensions, and the ongoing war in Ukraine. Companies in the Information technology services industry could perform better from a yearly perspective but lately have been struggling to rebound, while others, such as the semiconductor and the solar industries, have recently been leading the sector.</p><p></p><p><img src=\"https://static.tigerbbs.com/24926893763e4d5e2c2059c3a396961e\" tg-width=\"640\" tg-height=\"102\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>finviz</p><p><img src=\"https://static.tigerbbs.com/1f119d5f53fe3121bf55f9c893934749\" tg-width=\"640\" tg-height=\"98\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>finviz</p><p>The two selected companies are two global giants in their industry, with Alphabet (NASDAQ:NASDAQ:GOOG) (NASDAQ:GOOGL) having nearly a monopoly in the online search field, as Google processes over 92% of online search volume worldwide, and <a href=\"https://laohu8.com/S/META\">Meta Platforms</a> (NASDAQ:NASDAQ:META) counting 3.71B monthly users in Q3 2022, among the company’s core products, Facebook, WhatsApp, Instagram, or Messenger, up 4% Year-over-Year [YoY].</p><p></p><p><img src=\"https://static.tigerbbs.com/466ecae9b7a6150d62e4e702446ea1b7\" tg-width=\"640\" tg-height=\"162\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author, using TIKR</p><p>While the two companies once were identified as a digital duopoly, because of their massive market share in global online advertising, more recently, companies such as Amazon.com (NASDAQ:AMZN), Alibaba (NYSE:BABA), Tencent (OTCX:OTCPK:TCEHY), or ByteDance through their social media TikTok, have penetrated the market and contributed to the erosion of this duopoly.</p><p><img src=\"https://static.tigerbbs.com/0ba8cba90ad500702aed27aa4769d952\" tg-width=\"398\" tg-height=\"476\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author, using data from Insider Intelligence, Research and Markets, Company filings</p><p>The global IT Services market is projected to grow at a 9.5% Compound Annual Growth Rate [CAGR] through 2031, while the global digital advertising market is forecasted to grow even faster at a 13.9% CAGR, reaching a size of $1.79T through 2031. The sustained market growth is driven by the broader penetration of internet users, technological advancement, rising spending in digital advertising, and the expanding popularity of mobile phones and digital media across the world, while platforms such as in-app, mobile ads, connected TV or social media advertising are increasingly important vectors in the industry.</p><h2><b>An in-depth company comparison</b></h2><p><img src=\"https://static.tigerbbs.com/c3b292a512ca86202c0549254543bfb5\" tg-width=\"472\" tg-height=\"546\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author, using data from S&amp;P Capital IQ</p><p>The financial comparison highlights the major relative strengths and weaknesses of the two giants. In terms of their Return on Invested Capital [ROIC], a very important metric I consider when pondering an investment decision, as a company must be able to consistently create value to be a sustainable investment, Alphabet seems to gradually increase its capital allocation efficiency over the past few years. Although Meta has been more efficient in the past, the metric has progressively dropped, until recently significantly falling under Alphabet’s level. The latter seems to have a more efficient core business, but Meta has seemingly more efficient cash management, observed in the relatively narrow spread between their ROIC and the Return on Capital Employed [ROCE], while Alphabet could significantly increase its capital allocation efficiency as the company reported a massive cash position of over $116B.</p><p><img src=\"https://static.tigerbbs.com/fa03acf041d1be505b4a32558b182c46\" tg-width=\"640\" tg-height=\"315\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author, using data from S&amp;P Capital IQ</p><p>Although Meta reports by far the higher gross margin, this metric’s growth is seemingly dropping from 21.94% CAGR in the past 5 years to 17.88% CAGR in the past 3 years. While Alphabet reported a lower actual value, the company saw this metric slightly increase from 19.38% CAGR to 20.72% CAGR, over the same time window. Meta’s main source of revenue began faltering as the widely popular video app TikTok massively increased its audience, and other companies increased their market share in the online advertising space, while Apple’s (NASDAQ:AAPL) shift to a strict app tracking transparency privacy policy, requiring the user’s approval for apps to be able to track their data, had an estimated two-digit billion impact on Meta’s revenue. On the operational side, the companies have an even more divergent profile, as Alphabet demonstrated being capable of significantly increasing its operational profitability from 22.13% CAGR in the past 5 years, to 29.80% CAGR over the past 3 years, while Meta’s operating margin growth is decelerating from 11.96% CAGR to 7.03% CAGR over the same period. Meta is massively investing in the development of the Metaverse while rising doubts emerge concerning the company’s ability to reach its ambitious goals in a concept that only a few people understand, while at the same time the company struggles with a weakening advertising business.</p><p><img src=\"https://static.tigerbbs.com/8f1f88c88d16069afac3b3d995567a30\" tg-width=\"640\" tg-height=\"153\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author, using data from S&amp;P Capital IQ</p><p>Meta reportedly has a more cash-rich business than the analyzed peer, while none of them is paying a dividend, both companies spend billions in share-repurchase programs. Alphabet announced its biggest share-buyback program of over $70B earlier this year, a major increase after the authorized buyback of $50B in 2021 and $25B in 2019. Meta has reportedly spent $91B to repurchase 377M stocks at an average price of $242, between 2017 and September 2022, a price that seems steep, considering that the actual share price is valued at -53% of that price. Meta also reports significantly higher EPS, while in those terms, Alphabet has had a less negative development over the most recent quarters and reported significantly higher growth over the past few years. Both companies are relying on debt for sustaining their business, increasing significantly their debt reliance since 2019, as the historically low-interest rates pushed many companies to consider more debt in their financing strategy. That said, both companies could repay the entirety of their debt exposure as shown in their net debt position and low leverage ratio.</p><h2>The stocks’ performance</h2><p>Considering both stocks’ performance in the past 5 years, GOOG reported a solid performance of 93.44%, while META performed significantly worse, losing 37.65% over the analyzed period. The most significant references show a mixed picture, with the S&amp;P 500 (SP500) returning approximately 53%, and the Nasdaq technology index, tracked by the Invesco QQQ ETF (QQQ) marked over 85% performance, while more industry-focused references, such as the <a href=\"https://laohu8.com/S/XLC\">Communication Services Select Sector SPDR Fund</a> (XLC) performed flat, while the Technology Select Sector SPDR ETF (XLK) is the strongest outperformer of the analyzed references.</p><p><img src=\"https://static.tigerbbs.com/51b316e664d2e9457222c2ae8e80185d\" tg-width=\"640\" tg-height=\"198\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author, using SeekingAlpha.com</p><p>While both stocks display periods of relative strength, GOOG reported massive resilience after every major drop, while META has significantly suffered after its All-Time-High [ATH] in September 2021, leading to massive value destruction for its investors, being priced at levels not seen since 2016. In the next section, I will show how the next few years are forecasted to play out for both companies and if the actual stock price may offer an interesting opportunity, while also assessing the possible risks in different scenarios.</p><h2>Valuation</h2><p>To determine the actual fair value for both company&#39;s stock prices, I rely on the following Discounted Cash Flow [DCF] model, which extends over a forecast period of 5 years with 3 different sets of assumptions ranging from a more conservative to a more optimistic scenario, based on the metrics determining the WACC and the terminal value. As forecasted by the street consensus, Alphabet is anticipated to generate a massive 17.27% Free Cash Flow [FCF] CAGR over the coming 5 years, with its operating and net profitability increasing at respectively 12.73% and 13.80% CAGR, while its revenue is projected to expand at solid 10.98%, above the expected growth in the relevant industries.</p><p><img src=\"https://static.tigerbbs.com/4f307c189819f83e89ac5301f675e985\" tg-width=\"640\" tg-height=\"395\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author, using data from S&amp;P Capital IQ</p><p>The valuation takes into account a tighter monetary policy, which will undeniably be a reality in many economies worldwide in the coming years and lead to a higher weighted average cost of capital.</p><p><img src=\"https://static.tigerbbs.com/dfdac1fd157fda94ba58871ccb1c7b3f\" tg-width=\"573\" tg-height=\"599\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author</p><p>I compute my opinion in terms of likelihood for the three different scenarios, and I, therefore, consider the stock to be significantly undervalued with a weighted average price target with about 54% upside potential at $152.</p><p>Meta is forecasted to expand slower, with its sales growing at 9.20% CAGR over the next 5 years, and its operating and net profit margins are expected to grow between 8.5% and 8.9%, in terms of FCF the company is anticipated to substantially increase its metric, with 17.61% CAGR through 2026.</p><p></p><p><img src=\"https://static.tigerbbs.com/15cc9d6404157e698d23631783f3f4cd\" tg-width=\"640\" tg-height=\"398\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author, using data from S&amp;P Capital IQ</p><p>I then consider the same three scenarios affected by the company’s fundamentals and by the exogenous factors.</p><p></p><p><img src=\"https://static.tigerbbs.com/c566b27f98414ced096c76621fbf9c00\" tg-width=\"573\" tg-height=\"598\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author</p><p>Despite both stocks seemingly being undervalued, when considering the weighted average price target, the two modelizations suggest that GOOG may offer a higher expected return, while META’s expected performance is seen 50% higher than the latest closing price, or at about $167. Both modelizations emphasize the still substantial expected return, also in the less optimistic scenario.</p><p>Investors should consider that those forecasts are based on a relatively conservative assumption in terms of perpetual growth rates, higher discount rates, and the recent trend in increased interest rates, which reflects the actual situation and forecast possible scenarios. An inversion of this trend would change this perspective and value the company at a higher price.</p><h2>Outlook and Risk discussion</h2><p>With both companies having tremendous possibilities to expand their powerful product ecosystem, it’s quite difficult to estimate their relevant total addressable market [TAM], as both peers have shown to be able to significantly grow their business either organically or through strategic acquisitions. Alphabet and Meta own strong brands with Google ranked in the fourth position in Interbrand&#39;s Best Global Brands, while Facebook is ranked 17th. Google’s essentially monopolistic position in search engines, its gigantic database with no equal data-harvesting worldwide, and the dominant position in the smartphone industry with Android estimated to hold a share of 72% in the mobile operating systems’ market, while Apple is progressively gaining market shares, are only some of the company’s major strengths. Despite this, with approximately 80% of its revenue originating from income related to advertising, the company’s revenue model is highly exposed to demand fluctuations, and with a recession likely seen coming in major global economies, dropping consumer spending and cuts in expenses on advertising, will likely have a tangible negative effect on the company’s results. Privacy concerns and regulatory pressure, as well as data security, are also possible future threats to Alphabet, Meta, and their peers, as the biggest strength for the companies, the massive data collection, is the most damaging weakness for their users. Among Alphabet’s most promising opportunities I do like to underscore the company’s positioning in terms of Artificial Intelligence [AI], Machine Learning [ML], and cloud-based business, as well as its expansion into the wearable OS market, and the great diversification opportunities the company could access or create through its colossal financial strength.</p><p>Meta is building a strong product portfolio including WhatsApp, Instagram, Messenger, Oculus, Workplace, Portal, and Calibra to diversify from Facebook and create expanded opportunities in strong secular trends. With over 45% of the world’s population using Facebook or its family products, the company holds an extremely powerful and irreplaceable position. But with approximately 98% of revenue originating from advertising, Meta is even more exposed to demand-driven fluctuations than Alphabet, and since the company is massively investing and focusing its resources on developing its visionary Metaverse, the diversification opportunities are, at least for the moment, seemingly more limited than Alphabet’s. Facebook has been losing popularity after facing backlash over its negligence in protecting the user’s privacy, while negative publicity, allegations of racial basis, or the platform’s inability to control the spread of fake and misleading information, may have cast a shadow on the company’s once brighter outlook. Despite this, Meta faces many opportunities in terms of possible monetization of its platforms through paid services such as news subscriptions, peer-to-peer marketplaces, online dating apps, e-wallets, or the development of other hardware devices, while its existing technologies could also be integrated or connected with a variety of other applications, such as e-commerce, gaming, or expanded into the digital creators&#39; space, or by offering remote-work solutions. In terms of future-oriented secular growth vectors, Meta has extensive expertise in AI and ML, which the company could use to penetrate markets such as the technologies used for autonomous vehicles, where other competitors like Google, Amazon, and Apple are already massively investing.</p><p>Alphabet is rated with a Strong Buy rating from Seeking Alpha’s Quant Rating since August 25, 2022, and holds the first two positions in the Interactive Media and Services industry through its two share classes.</p><p></p><p><img src=\"https://static.tigerbbs.com/5b711fdd651560e12eb413b5c4321377\" tg-width=\"640\" tg-height=\"183\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>SeekingAlpha.com</p><p>Meta has instead been qualified as a Hold position since the end of 2021 and is ranked 22 out of 62 in the relevant industry. Both companies are without seen excelling in terms of profitability, while growth and valuation seem to be less favorable factors in the actual uncertain market environment, with Meta also significantly suffering from the negative momentum in its more recent price action.</p><p></p><p><img src=\"https://static.tigerbbs.com/c27a653d50c6e2a961374aeaa87c1171\" tg-width=\"640\" tg-height=\"183\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>SeekingAlpha.com</p><h2>The Verdict: Which stock is the better buy?</h2><p>The two analyzed companies are two global leaders in the technology services industry, with their respective strengths and weaknesses, but also offering inherent opportunities with their correlated risks. From an investor&#39;s point of view, it’s important to consider the company’s ability to create value for its shareholders, while minimizing the risks. Past performance is not a guarantee for future results, and despite GOOG overall performing significantly better than META in the past few years, the latter is seemingly offering great opportunities ahead, and my rather conservative modelization hints at the significant undervaluation of both stocks. Both companies have strong financials and report high profitability, but Alphabet is seemingly on a better path, as the company reported an overall better trend and is expected to optimize its profitability even further, while also owning a massive idling cash position that offers incredibly many options, and could even further increase the company’s already superior capital allocation efficiency. </p><p>Meta’s huge bet on the Metaverse may lead to great success, but it also bears a major risk, in times when the company’s great dependency on advertising spending is under pressure. While both companies’ Achilles heel is seemingly their dependency on spending in digital advertising, Meta is more reliant on it than Alphabet, and may also have shown less intention to diversify its revenue streams, when compared to its colossal peers. </p><p>I consider both companies as being a buy position for long-term oriented investors, but overall in this comparative analysis, I chose Alphabet as my favorite stock pick, for its preeminent opportunities and lower risk profile, while seemingly also offering the greater potential in its stock performance, when considering all three forecasted scenarios.</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>Alphabet Vs. Meta Platforms: Which Stock Is The Better Investment?</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 Vs. Meta Platforms: Which Stock Is The Better Investment?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-20 08:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4559206-alphabet-vs-meta-platforms-which-stock-is-the-better-investment><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAlphabet and Meta are two giants in highly competitive markets, both with their specific risk profiles, while also offering massive opportunities to investors.GOOG reported a superior ...</p>\n\n<a href=\"https://seekingalpha.com/article/4559206-alphabet-vs-meta-platforms-which-stock-is-the-better-investment\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"META":"Meta Platforms","GOOG":"谷歌","GOOGL":"谷歌A"},"source_url":"https://seekingalpha.com/article/4559206-alphabet-vs-meta-platforms-which-stock-is-the-better-investment","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2284785084","content_text":"SummaryAlphabet and Meta are two giants in highly competitive markets, both with their specific risk profiles, while also offering massive opportunities to investors.GOOG reported a superior performance over the past years, while both stocks may offer great opportunities for investors, the ability to achieve the targets and the optionality will be determinant.Both companies share the same Achilles heel, in an industry that is forecasted to grow substantially over the next decade, while it also exposes their revenue stream to demand-driven fluctuations.This article focuses on long-term investment opportunities based on in-depth fundamental analysis and I offer two valuation models structured around multiple outcome scenarios.The technology sector is among the worst performers in the past year, losing over 30% of its value. While many stocks may have been excessively hyped during the massive rebound out of the pandemic-lows, others have been under pressure because of rising inflation, a higher cost of capital, bottlenecks among the supply chains, as well as headwinds caused by pandemic-related restrictions, geo-political tensions, and the ongoing war in Ukraine. Companies in the Information technology services industry could perform better from a yearly perspective but lately have been struggling to rebound, while others, such as the semiconductor and the solar industries, have recently been leading the sector.finvizfinvizThe two selected companies are two global giants in their industry, with Alphabet (NASDAQ:NASDAQ:GOOG) (NASDAQ:GOOGL) having nearly a monopoly in the online search field, as Google processes over 92% of online search volume worldwide, and Meta Platforms (NASDAQ:NASDAQ:META) counting 3.71B monthly users in Q3 2022, among the company’s core products, Facebook, WhatsApp, Instagram, or Messenger, up 4% Year-over-Year [YoY].Author, using TIKRWhile the two companies once were identified as a digital duopoly, because of their massive market share in global online advertising, more recently, companies such as Amazon.com (NASDAQ:AMZN), Alibaba (NYSE:BABA), Tencent (OTCX:OTCPK:TCEHY), or ByteDance through their social media TikTok, have penetrated the market and contributed to the erosion of this duopoly.Author, using data from Insider Intelligence, Research and Markets, Company filingsThe global IT Services market is projected to grow at a 9.5% Compound Annual Growth Rate [CAGR] through 2031, while the global digital advertising market is forecasted to grow even faster at a 13.9% CAGR, reaching a size of $1.79T through 2031. The sustained market growth is driven by the broader penetration of internet users, technological advancement, rising spending in digital advertising, and the expanding popularity of mobile phones and digital media across the world, while platforms such as in-app, mobile ads, connected TV or social media advertising are increasingly important vectors in the industry.An in-depth company comparisonAuthor, using data from S&P Capital IQThe financial comparison highlights the major relative strengths and weaknesses of the two giants. In terms of their Return on Invested Capital [ROIC], a very important metric I consider when pondering an investment decision, as a company must be able to consistently create value to be a sustainable investment, Alphabet seems to gradually increase its capital allocation efficiency over the past few years. Although Meta has been more efficient in the past, the metric has progressively dropped, until recently significantly falling under Alphabet’s level. The latter seems to have a more efficient core business, but Meta has seemingly more efficient cash management, observed in the relatively narrow spread between their ROIC and the Return on Capital Employed [ROCE], while Alphabet could significantly increase its capital allocation efficiency as the company reported a massive cash position of over $116B.Author, using data from S&P Capital IQAlthough Meta reports by far the higher gross margin, this metric’s growth is seemingly dropping from 21.94% CAGR in the past 5 years to 17.88% CAGR in the past 3 years. While Alphabet reported a lower actual value, the company saw this metric slightly increase from 19.38% CAGR to 20.72% CAGR, over the same time window. Meta’s main source of revenue began faltering as the widely popular video app TikTok massively increased its audience, and other companies increased their market share in the online advertising space, while Apple’s (NASDAQ:AAPL) shift to a strict app tracking transparency privacy policy, requiring the user’s approval for apps to be able to track their data, had an estimated two-digit billion impact on Meta’s revenue. On the operational side, the companies have an even more divergent profile, as Alphabet demonstrated being capable of significantly increasing its operational profitability from 22.13% CAGR in the past 5 years, to 29.80% CAGR over the past 3 years, while Meta’s operating margin growth is decelerating from 11.96% CAGR to 7.03% CAGR over the same period. Meta is massively investing in the development of the Metaverse while rising doubts emerge concerning the company’s ability to reach its ambitious goals in a concept that only a few people understand, while at the same time the company struggles with a weakening advertising business.Author, using data from S&P Capital IQMeta reportedly has a more cash-rich business than the analyzed peer, while none of them is paying a dividend, both companies spend billions in share-repurchase programs. Alphabet announced its biggest share-buyback program of over $70B earlier this year, a major increase after the authorized buyback of $50B in 2021 and $25B in 2019. Meta has reportedly spent $91B to repurchase 377M stocks at an average price of $242, between 2017 and September 2022, a price that seems steep, considering that the actual share price is valued at -53% of that price. Meta also reports significantly higher EPS, while in those terms, Alphabet has had a less negative development over the most recent quarters and reported significantly higher growth over the past few years. Both companies are relying on debt for sustaining their business, increasing significantly their debt reliance since 2019, as the historically low-interest rates pushed many companies to consider more debt in their financing strategy. That said, both companies could repay the entirety of their debt exposure as shown in their net debt position and low leverage ratio.The stocks’ performanceConsidering both stocks’ performance in the past 5 years, GOOG reported a solid performance of 93.44%, while META performed significantly worse, losing 37.65% over the analyzed period. The most significant references show a mixed picture, with the S&P 500 (SP500) returning approximately 53%, and the Nasdaq technology index, tracked by the Invesco QQQ ETF (QQQ) marked over 85% performance, while more industry-focused references, such as the Communication Services Select Sector SPDR Fund (XLC) performed flat, while the Technology Select Sector SPDR ETF (XLK) is the strongest outperformer of the analyzed references.Author, using SeekingAlpha.comWhile both stocks display periods of relative strength, GOOG reported massive resilience after every major drop, while META has significantly suffered after its All-Time-High [ATH] in September 2021, leading to massive value destruction for its investors, being priced at levels not seen since 2016. In the next section, I will show how the next few years are forecasted to play out for both companies and if the actual stock price may offer an interesting opportunity, while also assessing the possible risks in different scenarios.ValuationTo determine the actual fair value for both company's stock prices, I rely on the following Discounted Cash Flow [DCF] model, which extends over a forecast period of 5 years with 3 different sets of assumptions ranging from a more conservative to a more optimistic scenario, based on the metrics determining the WACC and the terminal value. As forecasted by the street consensus, Alphabet is anticipated to generate a massive 17.27% Free Cash Flow [FCF] CAGR over the coming 5 years, with its operating and net profitability increasing at respectively 12.73% and 13.80% CAGR, while its revenue is projected to expand at solid 10.98%, above the expected growth in the relevant industries.Author, using data from S&P Capital IQThe valuation takes into account a tighter monetary policy, which will undeniably be a reality in many economies worldwide in the coming years and lead to a higher weighted average cost of capital.AuthorI compute my opinion in terms of likelihood for the three different scenarios, and I, therefore, consider the stock to be significantly undervalued with a weighted average price target with about 54% upside potential at $152.Meta is forecasted to expand slower, with its sales growing at 9.20% CAGR over the next 5 years, and its operating and net profit margins are expected to grow between 8.5% and 8.9%, in terms of FCF the company is anticipated to substantially increase its metric, with 17.61% CAGR through 2026.Author, using data from S&P Capital IQI then consider the same three scenarios affected by the company’s fundamentals and by the exogenous factors.AuthorDespite both stocks seemingly being undervalued, when considering the weighted average price target, the two modelizations suggest that GOOG may offer a higher expected return, while META’s expected performance is seen 50% higher than the latest closing price, or at about $167. Both modelizations emphasize the still substantial expected return, also in the less optimistic scenario.Investors should consider that those forecasts are based on a relatively conservative assumption in terms of perpetual growth rates, higher discount rates, and the recent trend in increased interest rates, which reflects the actual situation and forecast possible scenarios. An inversion of this trend would change this perspective and value the company at a higher price.Outlook and Risk discussionWith both companies having tremendous possibilities to expand their powerful product ecosystem, it’s quite difficult to estimate their relevant total addressable market [TAM], as both peers have shown to be able to significantly grow their business either organically or through strategic acquisitions. Alphabet and Meta own strong brands with Google ranked in the fourth position in Interbrand's Best Global Brands, while Facebook is ranked 17th. Google’s essentially monopolistic position in search engines, its gigantic database with no equal data-harvesting worldwide, and the dominant position in the smartphone industry with Android estimated to hold a share of 72% in the mobile operating systems’ market, while Apple is progressively gaining market shares, are only some of the company’s major strengths. Despite this, with approximately 80% of its revenue originating from income related to advertising, the company’s revenue model is highly exposed to demand fluctuations, and with a recession likely seen coming in major global economies, dropping consumer spending and cuts in expenses on advertising, will likely have a tangible negative effect on the company’s results. Privacy concerns and regulatory pressure, as well as data security, are also possible future threats to Alphabet, Meta, and their peers, as the biggest strength for the companies, the massive data collection, is the most damaging weakness for their users. Among Alphabet’s most promising opportunities I do like to underscore the company’s positioning in terms of Artificial Intelligence [AI], Machine Learning [ML], and cloud-based business, as well as its expansion into the wearable OS market, and the great diversification opportunities the company could access or create through its colossal financial strength.Meta is building a strong product portfolio including WhatsApp, Instagram, Messenger, Oculus, Workplace, Portal, and Calibra to diversify from Facebook and create expanded opportunities in strong secular trends. With over 45% of the world’s population using Facebook or its family products, the company holds an extremely powerful and irreplaceable position. But with approximately 98% of revenue originating from advertising, Meta is even more exposed to demand-driven fluctuations than Alphabet, and since the company is massively investing and focusing its resources on developing its visionary Metaverse, the diversification opportunities are, at least for the moment, seemingly more limited than Alphabet’s. Facebook has been losing popularity after facing backlash over its negligence in protecting the user’s privacy, while negative publicity, allegations of racial basis, or the platform’s inability to control the spread of fake and misleading information, may have cast a shadow on the company’s once brighter outlook. Despite this, Meta faces many opportunities in terms of possible monetization of its platforms through paid services such as news subscriptions, peer-to-peer marketplaces, online dating apps, e-wallets, or the development of other hardware devices, while its existing technologies could also be integrated or connected with a variety of other applications, such as e-commerce, gaming, or expanded into the digital creators' space, or by offering remote-work solutions. In terms of future-oriented secular growth vectors, Meta has extensive expertise in AI and ML, which the company could use to penetrate markets such as the technologies used for autonomous vehicles, where other competitors like Google, Amazon, and Apple are already massively investing.Alphabet is rated with a Strong Buy rating from Seeking Alpha’s Quant Rating since August 25, 2022, and holds the first two positions in the Interactive Media and Services industry through its two share classes.SeekingAlpha.comMeta has instead been qualified as a Hold position since the end of 2021 and is ranked 22 out of 62 in the relevant industry. Both companies are without seen excelling in terms of profitability, while growth and valuation seem to be less favorable factors in the actual uncertain market environment, with Meta also significantly suffering from the negative momentum in its more recent price action.SeekingAlpha.comThe Verdict: Which stock is the better buy?The two analyzed companies are two global leaders in the technology services industry, with their respective strengths and weaknesses, but also offering inherent opportunities with their correlated risks. From an investor's point of view, it’s important to consider the company’s ability to create value for its shareholders, while minimizing the risks. Past performance is not a guarantee for future results, and despite GOOG overall performing significantly better than META in the past few years, the latter is seemingly offering great opportunities ahead, and my rather conservative modelization hints at the significant undervaluation of both stocks. Both companies have strong financials and report high profitability, but Alphabet is seemingly on a better path, as the company reported an overall better trend and is expected to optimize its profitability even further, while also owning a massive idling cash position that offers incredibly many options, and could even further increase the company’s already superior capital allocation efficiency. Meta’s huge bet on the Metaverse may lead to great success, but it also bears a major risk, in times when the company’s great dependency on advertising spending is under pressure. While both companies’ Achilles heel is seemingly their dependency on spending in digital advertising, Meta is more reliant on it than Alphabet, and may also have shown less intention to diversify its revenue streams, when compared to its colossal peers. I consider both companies as being a buy position for long-term oriented investors, but overall in this comparative analysis, I chose Alphabet as my favorite stock pick, for its preeminent opportunities and lower risk profile, while seemingly also offering the greater potential in its stock performance, when considering all three forecasted scenarios.","news_type":1},"isVote":1,"tweetType":1,"viewCount":118,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9969616103,"gmtCreate":1668428491202,"gmtModify":1676538054907,"author":{"id":"3580024367177542","authorId":"3580024367177542","name":"ISSEY1413","avatar":"https://static.tigerbbs.com/3aae359514ad4455bfc28cf62f608a5e","crmLevel":6,"crmLevelSwitch":1},"themes":[],"htmlText":"Bababababababababababbabababababa","listText":"Bababababababababababbabababababa","text":"Bababababababababababbabababababa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":15,"repostSize":0,"link":"https://ttm.financial/post/9969616103","repostId":"1154017444","repostType":4,"repost":{"id":"1154017444","pubTimestamp":1668426339,"share":"https://www.laohu8.com/m/news/1154017444?lang=&edition=full","pubTime":"2022-11-14 19:45","market":"us","language":"en","title":"Alibaba Stock Primed for Rebound on Sales Recovery","url":"https://stock-news.laohu8.com/highlight/detail?id=1154017444","media":"Bloomberg","summary":"Put-to-call ratio for Alibaba’s US shares falls to near recordAlibaba may return to revenue growth i","content":"<html><head></head><body><ul><li>Put-to-call ratio for Alibaba’s US shares falls to near record</li><li>Alibaba may return to revenue growth in September quarter</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/751d4c3734f3600f25321413551d2827\" tg-width=\"800\" tg-height=\"533\" referrerpolicy=\"no-referrer\"/><span>An advertisement for Alibaba’s Singles&#39; Day shopping event in Shanghai.</span></p><p>Investors are bettingAlibaba Group Holding Ltd.may finally see its fortunes turn around after a rough 2022 plagued by a 40% slump in the shares and rare sell calls from Wall Street analysts.</p><p>Options data show that traders are pulling back on buying bearish contracts that benefit from further declines, with the put-to-call ratio for Alibaba’s US stock nearing a record low. The tech firm is expected to return to sales growth in the September quarter when it reports earnings on Thursday, following its first-ever drop for the prior period.</p><p><img src=\"https://static.tigerbbs.com/fff5b132fb1f45a8aded2267b06bd1fd\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\"/></p><p>While dip buyers in the past year have been burned repeatedly when it comes to investing in China tech stocks, belief is growing that the worst of the private-sector crackdown is over. Beijing’s plans toeasea raft of virus restrictions in a significant pivot away from Covid Zero and a sweepingpackageto rescue the nation’s beleaguered property market are also adding to the optimism.</p><p>Alibaba is expected to report a 4.3% revenue increase for the quarter, along with the firstmargin gainsince 2019. Investors will also be watching for updates on its effort to lower expenses along with guidance on further share buybacks.</p><p>“Net income could beat Street consensus, given the cost-cutting measures and that the company has suspended lots of investments in some initiatives,” said Julia Pan, Shanghai-based analyst at UOB Kay Hian. She added that the company’s business should improve next month after the new quarantine rules are in place.</p><p>Money Distilled: What market moves mean for your moneyGet John Stepek&#39;s daily newsletterSign up to this newsletter</p><p>The consumption recovery is also looking more steady. Although Alibaba didn’t disclose full sales results for its signature Singles’ Day shopping festival for the first time, China’s biggest e-commerce companysaidgross merchandise value was in line with last year’s performance despite Covid headwinds. Ad sales, which had been hammered by lockdowns over the past year, may finally rebound as reopening measures lift the economy.</p><p>“Despite a more challenging economic backdrop, we expect this year’s shoppers to be equally exuberant,” said Nicholas Yeo, head of China equities at abrdn. “Disposable incomes are climbing across the nation and this affluence is driving growth in aspirational areas.”</p><p><img src=\"https://static.tigerbbs.com/0e54693d6d6401da905b1b5452a0be77\" tg-width=\"644\" tg-height=\"370\" referrerpolicy=\"no-referrer\"/></p><p>To be sure, Alibaba faces broader challenges with the days of breakneck growth seen as over for the industry. Worries about the impact of US chip export legislation on the company’s cloud business are weighing on sentiment, while China’s full exit from Covid Zero is expected to be a long haul.</p><p>Yet sentiment is turning more positive, and it’s not just for Alibaba. According to options data, bearish bets are also easing for peers including JD.com and Tencent Holdings Ltd. Analysts are also expecting their earnings results to meet or even beat expectations.</p><p>“Valuations of tech and innovation stocks in China look very attractive compared to historical level and global peers,” said Minyue Liu, investment specialist for Asian and Greater China equities at BNP Paribas Asset Management. “The risk-reward is more on the reward side at current valuation level.”</p></body></html>","source":"lsy1584095487587","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>Alibaba Stock Primed for Rebound on Sales Recovery</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\">\nAlibaba Stock Primed for Rebound on Sales Recovery\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-14 19:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-11-14/alibaba-stock-primed-for-rebound-on-sales-recovery-tech-watch><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Put-to-call ratio for Alibaba’s US shares falls to near recordAlibaba may return to revenue growth in September quarterAn advertisement for Alibaba’s Singles' Day shopping event in Shanghai.Investors ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-11-14/alibaba-stock-primed-for-rebound-on-sales-recovery-tech-watch\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2022-11-14/alibaba-stock-primed-for-rebound-on-sales-recovery-tech-watch","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154017444","content_text":"Put-to-call ratio for Alibaba’s US shares falls to near recordAlibaba may return to revenue growth in September quarterAn advertisement for Alibaba’s Singles' Day shopping event in Shanghai.Investors are bettingAlibaba Group Holding Ltd.may finally see its fortunes turn around after a rough 2022 plagued by a 40% slump in the shares and rare sell calls from Wall Street analysts.Options data show that traders are pulling back on buying bearish contracts that benefit from further declines, with the put-to-call ratio for Alibaba’s US stock nearing a record low. The tech firm is expected to return to sales growth in the September quarter when it reports earnings on Thursday, following its first-ever drop for the prior period.While dip buyers in the past year have been burned repeatedly when it comes to investing in China tech stocks, belief is growing that the worst of the private-sector crackdown is over. Beijing’s plans toeasea raft of virus restrictions in a significant pivot away from Covid Zero and a sweepingpackageto rescue the nation’s beleaguered property market are also adding to the optimism.Alibaba is expected to report a 4.3% revenue increase for the quarter, along with the firstmargin gainsince 2019. Investors will also be watching for updates on its effort to lower expenses along with guidance on further share buybacks.“Net income could beat Street consensus, given the cost-cutting measures and that the company has suspended lots of investments in some initiatives,” said Julia Pan, Shanghai-based analyst at UOB Kay Hian. She added that the company’s business should improve next month after the new quarantine rules are in place.Money Distilled: What market moves mean for your moneyGet John Stepek's daily newsletterSign up to this newsletterThe consumption recovery is also looking more steady. Although Alibaba didn’t disclose full sales results for its signature Singles’ Day shopping festival for the first time, China’s biggest e-commerce companysaidgross merchandise value was in line with last year’s performance despite Covid headwinds. Ad sales, which had been hammered by lockdowns over the past year, may finally rebound as reopening measures lift the economy.“Despite a more challenging economic backdrop, we expect this year’s shoppers to be equally exuberant,” said Nicholas Yeo, head of China equities at abrdn. “Disposable incomes are climbing across the nation and this affluence is driving growth in aspirational areas.”To be sure, Alibaba faces broader challenges with the days of breakneck growth seen as over for the industry. Worries about the impact of US chip export legislation on the company’s cloud business are weighing on sentiment, while China’s full exit from Covid Zero is expected to be a long haul.Yet sentiment is turning more positive, and it’s not just for Alibaba. According to options data, bearish bets are also easing for peers including JD.com and Tencent Holdings Ltd. Analysts are also expecting their earnings results to meet or even beat expectations.“Valuations of tech and innovation stocks in China look very attractive compared to historical level and global peers,” said Minyue Liu, investment specialist for Asian and Greater China equities at BNP Paribas Asset Management. “The risk-reward is more on the reward side at current valuation level.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":179,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3580024367177542","authorId":"3580024367177542","name":"ISSEY1413","avatar":"https://static.tigerbbs.com/3aae359514ad4455bfc28cf62f608a5e","crmLevel":6,"crmLevelSwitch":1},"content":"[Miser] [Cool] [Cry] [shy] [What]","text":"[Miser] [Cool] [Cry] [shy] [What]","html":"[Miser] [Cool] [Cry] [shy] [What]"}],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[],"lives":[]}