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S&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians

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S&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians

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Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&amp;P 500 index, the attached table shows.</p>\n<p>There clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.</p>\n<p>Buying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&amp;P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.</p>\n<p>There is, of course, a sense that the party for stocks can’t last forever.</p>\n<p>So, how does the market tend to perform in period after such a protracted bullish run?</p>\n<p>The data set is very small but the S&amp;P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.</p>\n<p><img src=\"https://static.tigerbbs.com/d556c67fc01e330a57abb4c65802c29d\" tg-width=\"964\" tg-height=\"626\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SPY":"标普500ETF","UPRO":"三倍做多标普500ETF","SH":"标普500反向ETF","SDS":"两倍做空标普500ETF",".SPX":"S&P 500 Index","SPXU":"三倍做空标普500ETF","OEF":"标普100指数ETF-iShares","OEX":"标普100","IVV":"标普500指数ETF","SSO":"两倍做多标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161745814","content_text":"It is an unbearable lightness of being for the S&P 500 index.\nThe broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.\nYet, the S&P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.\nIt is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&P 500 index, the attached table shows.\nThere clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.\nBuying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.\nThere is, of course, a sense that the party for stocks can’t last forever.\nSo, how does the market tend to perform in period after such a protracted bullish run?\nThe data set is very small but the S&P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.","news_type":1},"isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835936364,"gmtCreate":1629683551358,"gmtModify":1676530097051,"author":{"id":"3554859287325506","authorId":"3554859287325506","name":"vnwz","avatar":"https://static.tigerbbs.com/6c3b1f2a7b28a9fd6ab1b9281f1127bd","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554859287325506","authorIdStr":"3554859287325506"},"themes":[],"htmlText":"Nice!","listText":"Nice!","text":"Nice!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835936364","repostId":"2161745814","repostType":4,"repost":{"id":"2161745814","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1629493200,"share":"https://ttm.financial/m/news/2161745814?lang=&edition=fundamental","pubTime":"2021-08-21 05:00","market":"us","language":"en","title":"S&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians","url":"https://stock-news.laohu8.com/highlight/detail?id=2161745814","media":"Dow Jones","summary":"It is an unbearable lightness of being for the S&P 500 index.\nThe broad-market measure of a basket o","content":"<p>It is an unbearable lightness of being for the S&amp;P 500 index.</p>\n<p>The broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.</p>\n<p>Yet, the S&amp;P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.</p>\n<p><img src=\"https://static.tigerbbs.com/d5d7a23827730d58001a0b40420acd79\" tg-width=\"981\" tg-height=\"437\" width=\"100%\" height=\"auto\">It is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&amp;P 500 index, the attached table shows.</p>\n<p>There clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.</p>\n<p>Buying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&amp;P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.</p>\n<p>There is, of course, a sense that the party for stocks can’t last forever.</p>\n<p>So, how does the market tend to perform in period after such a protracted bullish run?</p>\n<p>The data set is very small but the S&amp;P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.</p>\n<p><img src=\"https://static.tigerbbs.com/d556c67fc01e330a57abb4c65802c29d\" tg-width=\"964\" tg-height=\"626\" width=\"100%\" height=\"auto\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians</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\">\nS&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-08-21 05:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>It is an unbearable lightness of being for the S&amp;P 500 index.</p>\n<p>The broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.</p>\n<p>Yet, the S&amp;P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.</p>\n<p><img src=\"https://static.tigerbbs.com/d5d7a23827730d58001a0b40420acd79\" tg-width=\"981\" tg-height=\"437\" width=\"100%\" height=\"auto\">It is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&amp;P 500 index, the attached table shows.</p>\n<p>There clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.</p>\n<p>Buying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&amp;P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.</p>\n<p>There is, of course, a sense that the party for stocks can’t last forever.</p>\n<p>So, how does the market tend to perform in period after such a protracted bullish run?</p>\n<p>The data set is very small but the S&amp;P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.</p>\n<p><img src=\"https://static.tigerbbs.com/d556c67fc01e330a57abb4c65802c29d\" tg-width=\"964\" tg-height=\"626\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SPY":"标普500ETF","UPRO":"三倍做多标普500ETF","SH":"标普500反向ETF","SDS":"两倍做空标普500ETF",".SPX":"S&P 500 Index","SPXU":"三倍做空标普500ETF","OEF":"标普100指数ETF-iShares","OEX":"标普100","IVV":"标普500指数ETF","SSO":"两倍做多标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161745814","content_text":"It is an unbearable lightness of being for the S&P 500 index.\nThe broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.\nYet, the S&P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.\nIt is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&P 500 index, the attached table shows.\nThere clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.\nBuying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.\nThere is, of course, a sense that the party for stocks can’t last forever.\nSo, how does the market tend to perform in period after such a protracted bullish run?\nThe data set is very small but the S&P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.","news_type":1},"isVote":1,"tweetType":1,"viewCount":439,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172261547,"gmtCreate":1626962885289,"gmtModify":1703481484415,"author":{"id":"3554859287325506","authorId":"3554859287325506","name":"vnwz","avatar":"https://static.tigerbbs.com/6c3b1f2a7b28a9fd6ab1b9281f1127bd","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554859287325506","authorIdStr":"3554859287325506"},"themes":[],"htmlText":"Awesome!","listText":"Awesome!","text":"Awesome!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/172261547","repostId":"1100978830","repostType":4,"repost":{"id":"1100978830","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626961977,"share":"https://ttm.financial/m/news/1100978830?lang=&edition=fundamental","pubTime":"2021-07-22 21:52","market":"us","language":"en","title":"Microsoft rose over 1%, reaching record high","url":"https://stock-news.laohu8.com/highlight/detail?id=1100978830","media":"Tiger Newspress","summary":"(July 22) Microsoft rose over 1%, reaching record high.","content":"<p>(July 22)&nbsp;<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> rose over 1%, reaching record high.</p>\n<p><img src=\"https://static.tigerbbs.com/d3e01b3a96334ab3ef727b20a2606ffb\" tg-width=\"704\" tg-height=\"486\" referrerpolicy=\"no-referrer\"></p>\n<p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Microsoft rose over 1%, reaching record high</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\">\nMicrosoft rose over 1%, reaching record high\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\">2021-07-22 21:52</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(July 22)&nbsp;<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> rose over 1%, reaching record high.</p>\n<p><img src=\"https://static.tigerbbs.com/d3e01b3a96334ab3ef727b20a2606ffb\" tg-width=\"704\" tg-height=\"486\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"03086":"华夏纳指","MSFT":"微软","09086":"华夏纳指-U"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100978830","content_text":"(July 22) Microsoft rose over 1%, reaching record high.","news_type":1},"isVote":1,"tweetType":1,"viewCount":269,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112860734,"gmtCreate":1622860720628,"gmtModify":1704192602493,"author":{"id":"3554859287325506","authorId":"3554859287325506","name":"vnwz","avatar":"https://static.tigerbbs.com/6c3b1f2a7b28a9fd6ab1b9281f1127bd","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554859287325506","authorIdStr":"3554859287325506"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/112860734","repostId":"1175623977","repostType":4,"repost":{"id":"1175623977","kind":"news","pubTimestamp":1622857814,"share":"https://ttm.financial/m/news/1175623977?lang=&edition=fundamental","pubTime":"2021-06-05 09:50","market":"us","language":"en","title":"Nvidia Stock: Is It Still A Good Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1175623977","media":"seekingalpha","summary":"Summary\n\nNvidia's stock price reaches a new historical high, but analysts' target prices and histori","content":"<p><b>Summary</b></p>\n<ul>\n <li>Nvidia's stock price reaches a new historical high, but analysts' target prices and historical &amp; peer valuation comparisons suggest that NVDA's future upside could be limited.</li>\n <li>NVDA's record-high stock price and premium valuations are justified to a large extent by its above-expectations quarterly results and the strong performance of its gaming &amp; data center businesses.</li>\n <li>Nvidia Corporation is not a good buy now, as expectations are relatively high now as evidenced by its valuations and there are considerable risks relating to earnings disappointment.</li>\n <li>I think that a Neutral rating for Nvidia is fair; the company's long-term growth prospects are good, but it will be challenging for the stock to meet the market's near-term growth expectations.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8500b66052f55b26703173429661952\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>Photo by Justin Sullivan/Getty Images News via Getty Images</span></p>\n<p><b>Elevator Pitch</b></p>\n<p>I have a Neutral rating assigned to Nvidia Corporation (NVDA).</p>\n<p>Nvidia's stock price reached a new historical high, but analysts' target prices and historical &amp; peer valuation comparisons suggest that NVDA's future upside could be limited. NVDA's record-high stock price and premium valuations are justified to a large extent by its above-expectations quarterly results and the strong performance of its gaming &amp; data center businesses.</p>\n<p>Nvidia Corporation is not a good buy now, in my view, as expectations are relatively high now as evidenced by its valuations and there are considerable risks relating to earnings disappointment. I think that a Neutral rating for Nvidia is fair; the company's long-term growth prospects are good, but it will be challenging for the stock to meet the market's near-term growth expectations.</p>\n<p><b>Company Description</b></p>\n<p>On its investor relations website, Nvidia Corporation&nbsp;calls itself&nbsp;\"the pioneer of GPU (Graphics Processing Unit)-accelerated computing\", a company focused on \"products and platforms for the large, growing markets of gaming, professional visualization, data center, and automotive.\" NVDA was started in&nbsp;1993&nbsp;and listed on Nasdaq in 1999.</p>\n<p>Nvidia generated&nbsp;47% and 40%&nbsp;of the company's FY 2021 (YE January 31) revenue from its gaming and data center markets, respectively. The professional visualization, automotive, and OEM &amp; others markets accounted for the remaining 6%, 3% and 4% of NVDA's sales, respectively in the most recent fiscal year.</p>\n<p>The company also derived&nbsp;27%, 23%, 19% and 7%&nbsp;of its top line from Taiwan, China, the US and Europe (based on where its direct customers are located), respectively in FY 2021. The rest of Asia Pacific and other countries contributed the other 19% and 5% of NVDA's revenue in the last fiscal year, respectively.</p>\n<p><b>Nvidia Stock Price</b></p>\n<p>It has been a great one year and five months for Nvidia's shareholders, with respect to the company's stock price performance. Nvidia's share price rose by +186% from&nbsp;$234.83&nbsp;as of December 31, 2019 to $671.13 as of June 2, 2021.</p>\n<p>The majority of Wall Street seem to be positive on Nvidia, with&nbsp;65% and 20%&nbsp;of the sell-side analysts covering the stock having \"Very Bullish\" and \"Bullish\" ratings for the stock, respectively. But the analysts' target prices tell a different story. Based on S&amp;P Capital data, the mean sell-side target price for Nvidia Corporation is $709.26, while the median target price set by analysts is $720. In other words, the market on average only expects a +5%-6% upside for Nvidia's stock price of $671.13 as of June 2, 2021.</p>\n<p>While it is possible that some of the sell-side analysts might have yet to publish new research reports updating their target prices, the relatively limited upside implied by Wall Street analysts' target prices does suggest Nvidia's stock price and valuations are not particularly attractive.</p>\n<p>As per the valuation comparison tables below, the market currently values Nvidia Corporation at a significant premium to its historical valuation averages and peer comparables.</p>\n<p><b>Historical Valuation Comparison For Nvidia Corporation</b></p>\n<table>\n <tbody>\n  <tr>\n   <td><b>Nvidia's Valuation Multiple</b></td>\n   <td><b>Consensus Forward Next Twelve Months' Enterprise Value-To-Revenue</b></td>\n   <td><b>Consensus Forward Next Twelve Months' EV/EBITDA</b></td>\n   <td><b>Consensus Forward Next Twelve Months' Normalized P/E</b></td>\n  </tr>\n  <tr>\n   <td>Latest Valuation Multiple As Of June 2, 2021</td>\n   <td>16.3</td>\n   <td>42.0</td>\n   <td>41.9</td>\n  </tr>\n  <tr>\n   <td>Historical Three-Year Average Valuation Multiple</td>\n   <td>12.1</td>\n   <td>39.1</td>\n   <td>36.6</td>\n  </tr>\n  <tr>\n   <td>Historical Five-Year Average Valuation Multiple</td>\n   <td>10.7</td>\n   <td>34.0</td>\n   <td>35.9</td>\n  </tr>\n  <tr>\n   <td>Historical 10-Year Average Valuation Multiple</td>\n   <td>6.1</td>\n   <td>20.9</td>\n   <td>25.5</td>\n  </tr>\n </tbody>\n</table>\n<p>Source: S&amp;P Capital IQ</p>\n<p><b>Peer Valuation Comparison For Nvidia Corporation</b></p>\n<table>\n <tbody>\n  <tr>\n   <td><b>Stock</b></td>\n   <td><b>Consensus Current Fiscal Year Enterprise Value-To-Revenue</b></td>\n   <td><b>Consensus Forward One Fiscal Year Enterprise Value-To-Revenue</b></td>\n   <td><b>Consensus Current Fiscal Year EV/EBITDA</b></td>\n   <td><b>Consensus Forward One Fiscal Year EV/EBITDA</b></td>\n   <td><b>Consensus Current Fiscal Year Normalized P/E</b></td>\n   <td><b>Consensus Forward One Fiscal Year Normalized P/E</b></td>\n  </tr>\n  <tr>\n   <td>Nvidia Corporation</td>\n   <td>16.4</td>\n   <td>14.8</td>\n   <td>41.4</td>\n   <td>40.9</td>\n   <td>42.3</td>\n   <td>39.1</td>\n  </tr>\n  <tr>\n   <td>Advanced Micro Devices, Inc (AMD)</td>\n   <td>6.4</td>\n   <td>5.4</td>\n   <td>26.9</td>\n   <td>21.7</td>\n   <td>37.9</td>\n   <td>30.6</td>\n  </tr>\n  <tr>\n   <td>Intel Corporation (INTC)</td>\n   <td>3.4</td>\n   <td>3.3</td>\n   <td>7.6</td>\n   <td>7.3</td>\n   <td>12.4</td>\n   <td>12.6</td>\n  </tr>\n </tbody>\n</table>\n<p>Source: S&amp;P Capital IQ</p>\n<p>In the next section of this article, I examine Nvidia Corporation's recent financial performance to see if the stock's high stock price and valuations are justified.</p>\n<p><b>Why Is Nvidia Stock So High?</b></p>\n<p>Nvidia reported the company's&nbsp;1Q FY 2022 (February 1, 2021 to April 30, 2021) financial results&nbsp;last week on May 26, 2021. Nvidia Corporation's most recent quarterly financial performance&nbsp;beat market expectations, and specifically, its core gaming and data center businesses did very well. This justifies NVDA's strong year-to-date 2021 share price performance as highlighted in the preceding section.</p>\n<p>The company's total revenue expanded by +84% YoY and +13% QoQ to&nbsp;$5,661 million&nbsp;in the first quarter of fiscal 2022. This was the highest quarterly revenue in Nvidia's history, and NVDA's top line came in&nbsp;+5%&nbsp;better than what Wall Street analysts were forecasting. Nvidia Corporation's 1Q FY 2022 diluted non-GAAP (mainly adjusted for stock compensation and M&amp;A-related expenses) earnings per share of $3.66 also represented impressive QoQ and YoY growth rates of +18% and +103%, respectively. The company's bottom line was&nbsp;+12% higher&nbsp;than market consensus' quarterly earnings per share forecasts.</p>\n<p>Notably, NVDA's key gaming and data center businesses drove the company's better-than-expected financial performance in the most recent quarter.</p>\n<p>The gaming business' revenue grew by +11% QoQ and +106% YoY to $2,760 million in 1Q FY 2022. The robust growth for the gaming business was mainly attributable to higher gaming demand as a result of Work-From-Home or WFH tailwinds brought about by COVID-19, and the good performance of the company's new GeForce RTX 30 Series GPUs since its introduction to the market in September 2020. Cryptocurrency mining was also another tailwind for NVDA in 1Q FY 2022, which is detailed in the next section of this article.</p>\n<p>Looking ahead, a key growth driver for Nvidia's gaming business in the coming quarters is the recent launch of \"new GeForce RTX 3050 and GeForce RTX 3050 Ti laptops\" with more than 140 \"mass-market\" models available priced as low as $799, as per the company's May 11, 2021&nbsp;media release.</p>\n<p>Separately, sales for Nvidia Corporation's data center business increased by +79% YoY and +8% QoQ to $2,048 million in the first quarter of the current fiscal year, which was also a new historical high. It is also noteworthy that this is the sixth consecutive quarter that the data center business has set a new historical record in terms of quarterly revenue, which is indicative of the business' strong growth momentum.</p>\n<p>Specifically, the&nbsp;completion&nbsp;of the acquisition of Mellanox Technologies in April 2020 has been the key driving force behind the excellent growth of Nvidia Corporation's data center business. According to Mellanox Technologies'&nbsp;corporate profile&nbsp;that is available on its website, the company is a \"supplier of end-to-end Ethernet and InfiniBand intelligent interconnect solutions and services for servers, storage, and hyper-converged infrastructure\", and Nvidia's hyperscale data center clients had strong demand for Mellanox Technologies' products. At the company's recent 1Q FY 2022 results briefing, NVDA also&nbsp;disclosed&nbsp;that it \"achieved key design wins and proof-of-concept trials for the NVIDIA&nbsp;BlueField-2&nbsp;DPU (Data Processing Unit) with cloud service providers and consumer Internet companies.\"</p>\n<p>Moving forward, the increased adoption of the&nbsp;NVIDIA BlueField-2 A100&nbsp;(\"a converged card that combines GPUs and DPUs\" based onmedia release) and the recent launch of the&nbsp;NVIDIA BlueField-3 DPU&nbsp;(referred to the \"first DPU built for AI and accelerated computing\" at company's&nbsp;recent earnings call) in April 2021, are expected to boost the future revenue growth prospects of the data center business.</p>\n<p>Given that Nvidia Corporation benefited from WFH tailwinds to a large extent in FY 2021, it is no surprise that the market expects the company's top line and bottom line growth to slow in FY 2022 as per S&amp;P Capital IQ estimates. Market consensus sees Nvidia Corporation's revenue growth moderating from +53% in FY 2021 to 49% in FY 2022, while sell-side analysts anticipate that NVDA's normalized earnings growth will go from +75% in the most recent fiscal year to +59% in the current fiscal year.</p>\n<p>More importantly, I think that there could be downside to Nvidia Corporation's FY 2022 financial forecasts, which I elaborate on in the subsequent section.</p>\n<p><b>Is Nvidia A Good Buy Now?</b></p>\n<p>I don't think that Nvidia is a good buy now. As highlighted in an earlier section of the article, Nvidia Corporation's stock price is high and its valuations are rich. More significantly, I see downside risks for NVDA's FY 2022 earnings, which I explain below.</p>\n<p>Nvidia's strong gaming business performance in 1Q FY 2022 was partly driven by cryptocurrency mining. The company&nbsp;acknowledged&nbsp;at its recent 1Q FY 2022 earnings call that its \"gaming (business) also benefited from crypto mining demand\", while emphasizing that \"it's hard to estimate exactly how much and where crypto mining is being done.\" Assuming that the price of cryptocurrencies drop significantly, demand for Nvidia's gaming GPUs could be adversely impacted. Notably, Nvidia's stock price fell to a \"16-month low\" in late-November 2018, after the price of bitcoin dropped by -30% in a week, according to a November 26, 2018<i>PC Gamer</i>&nbsp;article. The possibility of a repeat of such volatility in the price of cryptocurrencies and Nvidia's share price can't be ruled out.</p>\n<p>For NVDA's other key data center business, the current semiconductor chip shortage situation is one to watch. Charlie Boyle, who is the general manager of the Nvidia&nbsp;DGX division,mentioned&nbsp;in a recent April 2021 interview with The Data Center Podcast that the data center business \"hasn't been short on CPUs or GPUs\" although \"it's taken a lot of extra work by the company's operations team to source other components.\" The chip shortage represents another potential downside risk to Nvidia Corporation's FY 2022 revenue &amp; earnings, although it does not seem to be an issue for now.</p>\n<p>A stock is a good buy when its share price and valuation reflect relatively modest expectations, and there is a good chance of upside surprises. The reverse is true for Nvidia now i.e. lofty expectations and a high probability of downside surprises.</p>\n<p><b>Is Nvidia A Good Stock To Buy Now?</b></p>\n<p>I like Nvidia as a company and I am positive on its long-term growth trajectory. However, I don't see Nvidia as a good stock to buy now.</p>\n<p>As per the chart below, Nvidia operates in fast-growing markets with lots of potential in the future. Things like virtual reality, augmented reality and artificial intelligence are important future trends, and Nvidia Corporation is a key beneficiary of such growth tailwinds. Separately, Nvidia's&nbsp;proposed acquisition&nbsp;of ARM Limited expected to conclude in&nbsp;early-2022, will help to&nbsp;address&nbsp;any semiconductor chip shortage issues in the medium term. Also, paying for the majority of ARM Limited acquisition consideration with its own&nbsp;shares&nbsp;(as opposed) is positive. From a capital allocation perspective, it is value-accretive to repurchase shares when one's shares are under-valued and issue shares (to drive future growth) when one's shares are over-valued.</p>\n<p><b>An Overview Of Nvidia's Key Markets And Their Respective Growth Drivers</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3270747f008d9c111b3a24d373eedcfa\" tg-width=\"640\" tg-height=\"242\"><span>Source: Nvidia's 1Q FY 2022 Investor Presentation Slides</span></p>\n<p>On the flip side, as explained in the prior section of this article, growth expectations for Nvidia Corporation are very high, which translate into a high probability of earnings disappointment and valuation de-rating as a result.</p>\n<p>Nvidia Corporation's key risks are a larger-than-expected decline in the price of cryptocurrencies which depresses gaming GPU demand, and the semiconductor chip shortage situation worsening to the point that it affects the company's data center business.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia Stock: Is It Still A Good Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-05 09:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433129-nvidia-stock-still-good-buy><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nNvidia's stock price reaches a new historical high, but analysts' target prices and historical & peer valuation comparisons suggest that NVDA's future upside could be limited.\nNVDA's record-...</p>\n\n<a href=\"https://seekingalpha.com/article/4433129-nvidia-stock-still-good-buy\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://seekingalpha.com/article/4433129-nvidia-stock-still-good-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175623977","content_text":"Summary\n\nNvidia's stock price reaches a new historical high, but analysts' target prices and historical & peer valuation comparisons suggest that NVDA's future upside could be limited.\nNVDA's record-high stock price and premium valuations are justified to a large extent by its above-expectations quarterly results and the strong performance of its gaming & data center businesses.\nNvidia Corporation is not a good buy now, as expectations are relatively high now as evidenced by its valuations and there are considerable risks relating to earnings disappointment.\nI think that a Neutral rating for Nvidia is fair; the company's long-term growth prospects are good, but it will be challenging for the stock to meet the market's near-term growth expectations.\n\nPhoto by Justin Sullivan/Getty Images News via Getty Images\nElevator Pitch\nI have a Neutral rating assigned to Nvidia Corporation (NVDA).\nNvidia's stock price reached a new historical high, but analysts' target prices and historical & peer valuation comparisons suggest that NVDA's future upside could be limited. NVDA's record-high stock price and premium valuations are justified to a large extent by its above-expectations quarterly results and the strong performance of its gaming & data center businesses.\nNvidia Corporation is not a good buy now, in my view, as expectations are relatively high now as evidenced by its valuations and there are considerable risks relating to earnings disappointment. I think that a Neutral rating for Nvidia is fair; the company's long-term growth prospects are good, but it will be challenging for the stock to meet the market's near-term growth expectations.\nCompany Description\nOn its investor relations website, Nvidia Corporation calls itself \"the pioneer of GPU (Graphics Processing Unit)-accelerated computing\", a company focused on \"products and platforms for the large, growing markets of gaming, professional visualization, data center, and automotive.\" NVDA was started in 1993 and listed on Nasdaq in 1999.\nNvidia generated 47% and 40% of the company's FY 2021 (YE January 31) revenue from its gaming and data center markets, respectively. The professional visualization, automotive, and OEM & others markets accounted for the remaining 6%, 3% and 4% of NVDA's sales, respectively in the most recent fiscal year.\nThe company also derived 27%, 23%, 19% and 7% of its top line from Taiwan, China, the US and Europe (based on where its direct customers are located), respectively in FY 2021. The rest of Asia Pacific and other countries contributed the other 19% and 5% of NVDA's revenue in the last fiscal year, respectively.\nNvidia Stock Price\nIt has been a great one year and five months for Nvidia's shareholders, with respect to the company's stock price performance. Nvidia's share price rose by +186% from $234.83 as of December 31, 2019 to $671.13 as of June 2, 2021.\nThe majority of Wall Street seem to be positive on Nvidia, with 65% and 20% of the sell-side analysts covering the stock having \"Very Bullish\" and \"Bullish\" ratings for the stock, respectively. But the analysts' target prices tell a different story. Based on S&P Capital data, the mean sell-side target price for Nvidia Corporation is $709.26, while the median target price set by analysts is $720. In other words, the market on average only expects a +5%-6% upside for Nvidia's stock price of $671.13 as of June 2, 2021.\nWhile it is possible that some of the sell-side analysts might have yet to publish new research reports updating their target prices, the relatively limited upside implied by Wall Street analysts' target prices does suggest Nvidia's stock price and valuations are not particularly attractive.\nAs per the valuation comparison tables below, the market currently values Nvidia Corporation at a significant premium to its historical valuation averages and peer comparables.\nHistorical Valuation Comparison For Nvidia Corporation\n\n\n\nNvidia's Valuation Multiple\nConsensus Forward Next Twelve Months' Enterprise Value-To-Revenue\nConsensus Forward Next Twelve Months' EV/EBITDA\nConsensus Forward Next Twelve Months' Normalized P/E\n\n\nLatest Valuation Multiple As Of June 2, 2021\n16.3\n42.0\n41.9\n\n\nHistorical Three-Year Average Valuation Multiple\n12.1\n39.1\n36.6\n\n\nHistorical Five-Year Average Valuation Multiple\n10.7\n34.0\n35.9\n\n\nHistorical 10-Year Average Valuation Multiple\n6.1\n20.9\n25.5\n\n\n\nSource: S&P Capital IQ\nPeer Valuation Comparison For Nvidia Corporation\n\n\n\nStock\nConsensus Current Fiscal Year Enterprise Value-To-Revenue\nConsensus Forward One Fiscal Year Enterprise Value-To-Revenue\nConsensus Current Fiscal Year EV/EBITDA\nConsensus Forward One Fiscal Year EV/EBITDA\nConsensus Current Fiscal Year Normalized P/E\nConsensus Forward One Fiscal Year Normalized P/E\n\n\nNvidia Corporation\n16.4\n14.8\n41.4\n40.9\n42.3\n39.1\n\n\nAdvanced Micro Devices, Inc (AMD)\n6.4\n5.4\n26.9\n21.7\n37.9\n30.6\n\n\nIntel Corporation (INTC)\n3.4\n3.3\n7.6\n7.3\n12.4\n12.6\n\n\n\nSource: S&P Capital IQ\nIn the next section of this article, I examine Nvidia Corporation's recent financial performance to see if the stock's high stock price and valuations are justified.\nWhy Is Nvidia Stock So High?\nNvidia reported the company's 1Q FY 2022 (February 1, 2021 to April 30, 2021) financial results last week on May 26, 2021. Nvidia Corporation's most recent quarterly financial performance beat market expectations, and specifically, its core gaming and data center businesses did very well. This justifies NVDA's strong year-to-date 2021 share price performance as highlighted in the preceding section.\nThe company's total revenue expanded by +84% YoY and +13% QoQ to $5,661 million in the first quarter of fiscal 2022. This was the highest quarterly revenue in Nvidia's history, and NVDA's top line came in +5% better than what Wall Street analysts were forecasting. Nvidia Corporation's 1Q FY 2022 diluted non-GAAP (mainly adjusted for stock compensation and M&A-related expenses) earnings per share of $3.66 also represented impressive QoQ and YoY growth rates of +18% and +103%, respectively. The company's bottom line was +12% higher than market consensus' quarterly earnings per share forecasts.\nNotably, NVDA's key gaming and data center businesses drove the company's better-than-expected financial performance in the most recent quarter.\nThe gaming business' revenue grew by +11% QoQ and +106% YoY to $2,760 million in 1Q FY 2022. The robust growth for the gaming business was mainly attributable to higher gaming demand as a result of Work-From-Home or WFH tailwinds brought about by COVID-19, and the good performance of the company's new GeForce RTX 30 Series GPUs since its introduction to the market in September 2020. Cryptocurrency mining was also another tailwind for NVDA in 1Q FY 2022, which is detailed in the next section of this article.\nLooking ahead, a key growth driver for Nvidia's gaming business in the coming quarters is the recent launch of \"new GeForce RTX 3050 and GeForce RTX 3050 Ti laptops\" with more than 140 \"mass-market\" models available priced as low as $799, as per the company's May 11, 2021 media release.\nSeparately, sales for Nvidia Corporation's data center business increased by +79% YoY and +8% QoQ to $2,048 million in the first quarter of the current fiscal year, which was also a new historical high. It is also noteworthy that this is the sixth consecutive quarter that the data center business has set a new historical record in terms of quarterly revenue, which is indicative of the business' strong growth momentum.\nSpecifically, the completion of the acquisition of Mellanox Technologies in April 2020 has been the key driving force behind the excellent growth of Nvidia Corporation's data center business. According to Mellanox Technologies' corporate profile that is available on its website, the company is a \"supplier of end-to-end Ethernet and InfiniBand intelligent interconnect solutions and services for servers, storage, and hyper-converged infrastructure\", and Nvidia's hyperscale data center clients had strong demand for Mellanox Technologies' products. At the company's recent 1Q FY 2022 results briefing, NVDA also disclosed that it \"achieved key design wins and proof-of-concept trials for the NVIDIA BlueField-2 DPU (Data Processing Unit) with cloud service providers and consumer Internet companies.\"\nMoving forward, the increased adoption of the NVIDIA BlueField-2 A100 (\"a converged card that combines GPUs and DPUs\" based onmedia release) and the recent launch of the NVIDIA BlueField-3 DPU (referred to the \"first DPU built for AI and accelerated computing\" at company's recent earnings call) in April 2021, are expected to boost the future revenue growth prospects of the data center business.\nGiven that Nvidia Corporation benefited from WFH tailwinds to a large extent in FY 2021, it is no surprise that the market expects the company's top line and bottom line growth to slow in FY 2022 as per S&P Capital IQ estimates. Market consensus sees Nvidia Corporation's revenue growth moderating from +53% in FY 2021 to 49% in FY 2022, while sell-side analysts anticipate that NVDA's normalized earnings growth will go from +75% in the most recent fiscal year to +59% in the current fiscal year.\nMore importantly, I think that there could be downside to Nvidia Corporation's FY 2022 financial forecasts, which I elaborate on in the subsequent section.\nIs Nvidia A Good Buy Now?\nI don't think that Nvidia is a good buy now. As highlighted in an earlier section of the article, Nvidia Corporation's stock price is high and its valuations are rich. More significantly, I see downside risks for NVDA's FY 2022 earnings, which I explain below.\nNvidia's strong gaming business performance in 1Q FY 2022 was partly driven by cryptocurrency mining. The company acknowledged at its recent 1Q FY 2022 earnings call that its \"gaming (business) also benefited from crypto mining demand\", while emphasizing that \"it's hard to estimate exactly how much and where crypto mining is being done.\" Assuming that the price of cryptocurrencies drop significantly, demand for Nvidia's gaming GPUs could be adversely impacted. Notably, Nvidia's stock price fell to a \"16-month low\" in late-November 2018, after the price of bitcoin dropped by -30% in a week, according to a November 26, 2018PC Gamer article. The possibility of a repeat of such volatility in the price of cryptocurrencies and Nvidia's share price can't be ruled out.\nFor NVDA's other key data center business, the current semiconductor chip shortage situation is one to watch. Charlie Boyle, who is the general manager of the Nvidia DGX division,mentioned in a recent April 2021 interview with The Data Center Podcast that the data center business \"hasn't been short on CPUs or GPUs\" although \"it's taken a lot of extra work by the company's operations team to source other components.\" The chip shortage represents another potential downside risk to Nvidia Corporation's FY 2022 revenue & earnings, although it does not seem to be an issue for now.\nA stock is a good buy when its share price and valuation reflect relatively modest expectations, and there is a good chance of upside surprises. The reverse is true for Nvidia now i.e. lofty expectations and a high probability of downside surprises.\nIs Nvidia A Good Stock To Buy Now?\nI like Nvidia as a company and I am positive on its long-term growth trajectory. However, I don't see Nvidia as a good stock to buy now.\nAs per the chart below, Nvidia operates in fast-growing markets with lots of potential in the future. Things like virtual reality, augmented reality and artificial intelligence are important future trends, and Nvidia Corporation is a key beneficiary of such growth tailwinds. Separately, Nvidia's proposed acquisition of ARM Limited expected to conclude in early-2022, will help to address any semiconductor chip shortage issues in the medium term. Also, paying for the majority of ARM Limited acquisition consideration with its own shares (as opposed) is positive. From a capital allocation perspective, it is value-accretive to repurchase shares when one's shares are under-valued and issue shares (to drive future growth) when one's shares are over-valued.\nAn Overview Of Nvidia's Key Markets And Their Respective Growth Drivers\nSource: Nvidia's 1Q FY 2022 Investor Presentation Slides\nOn the flip side, as explained in the prior section of this article, growth expectations for Nvidia Corporation are very high, which translate into a high probability of earnings disappointment and valuation de-rating as a result.\nNvidia Corporation's key risks are a larger-than-expected decline in the price of cryptocurrencies which depresses gaming GPU demand, and the semiconductor chip shortage situation worsening to the point that it affects the company's data center business.","news_type":1},"isVote":1,"tweetType":1,"viewCount":527,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109049494,"gmtCreate":1619656290118,"gmtModify":1704727438718,"author":{"id":"3554859287325506","authorId":"3554859287325506","name":"vnwz","avatar":"https://static.tigerbbs.com/6c3b1f2a7b28a9fd6ab1b9281f1127bd","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554859287325506","authorIdStr":"3554859287325506"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/109049494","repostId":"1137964402","repostType":4,"repost":{"id":"1137964402","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1619651546,"share":"https://ttm.financial/m/news/1137964402?lang=&edition=fundamental","pubTime":"2021-04-29 07:12","market":"us","language":"en","title":"Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks","url":"https://stock-news.laohu8.com/highlight/detail?id=1137964402","media":"Tiger Newspress","summary":"Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple did not issue official guidance for what it expects in the quarter ending in June.Apple authorized $90 billion in share buybacks.Apple stock rose over 4% at one point in extended trading.Apple reported double-digit growth in every single one of its product categories, and its most important product line, the iPhone, was up 65","content":"<p><b>KEY POINTS</b></p><ul><li>Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</li><li>Apple did not issue official guidance for what it expects in the quarter ending in June.</li><li>Apple authorized $90 billion in share buybacks.</li></ul><p>Apple&nbsp;reported&nbsp;a blowout quarter&nbsp;on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</p><p>Apple stock rose over 4% at one point in extended trading.</p><p><img src=\"https://static.tigerbbs.com/4e791f63f460807906f1793c2d58933e\" tg-width=\"1302\" tg-height=\"833\"></p><p>Apple reported double-digit growth in every single one of its product categories, and its&nbsp;most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales&nbsp;did&nbsp;better, with its computers up 70.1% and iPad&nbsp;sales&nbsp;growing nearly 79% on an annual basis.</p><p>Apple said it would increase its dividend by 7%&nbsp;to $0.22 per share&nbsp;and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay&nbsp;and 2019′s $75 billion.</p><p>Here’s how Apple did versus Refinitiv estimates:</p><ul><li><b>EPS</b>:&nbsp;$1.40&nbsp;vs. $0.99 estimated</li><li><b>Revenue</b>:&nbsp;$89.58&nbsp;billion&nbsp;vs. $77.36&nbsp;billion&nbsp;estimated, up 53.7% year-over-year</li><li><b>iPhone revenue</b>:&nbsp;$47.94 billion&nbsp;vs. $41.43&nbsp;billion&nbsp;estimated, up&nbsp;65.5% year-over-year</li><li><b>Services revenue</b>:&nbsp;$16.90 billion&nbsp;vs. $15.57&nbsp;billion&nbsp;estimated, up 26.7% year over&nbsp;year</li><li><b>Other Products revenue</b>:&nbsp;$7.83&nbsp;billion&nbsp;vs. $7.79&nbsp;billion&nbsp;estimated,&nbsp;up 24%&nbsp;year-over-year</li><li><b>Mac revenue</b>:&nbsp;$9.10&nbsp;billion&nbsp;vs. $6.86&nbsp;billion&nbsp;estimated, up 70.1% year-over-year</li><li><b>iPad revenue</b>:&nbsp;$7.80 billion&nbsp;vs. $5.58&nbsp;billion&nbsp;estimated, up 78.9% year-over-year</li><li><b>Gross margin</b>:&nbsp;42.5% vs. 39.8%&nbsp;estimated</li></ul><p>Apple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue&nbsp;guidance since the start of the pandemic, citing uncertainty.&nbsp;This is Apple’s second quarter in a row with double-digit growth in all product categories.&nbsp;Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.</p><p>Apple has said in the past months that its business has been boosted by the pandemic as consumers&nbsp;and businesses&nbsp;bought&nbsp;computers&nbsp;to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies&nbsp;open up.</p><p>Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this&nbsp;moment in their own lives, as well as the optimism consumers seem to feel about better days&nbsp;ahead for all of us.”</p><p>Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac&nbsp;laptops&nbsp;that used its own M1 chips&nbsp;for longer battery life, instead of processors sold by&nbsp;Intel.&nbsp;iPad sales were up&nbsp;nearly 79% year-over-year.</p><p>Neither of those&nbsp;results&nbsp;include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.</p><p>“We’re seeing strong first-time buyers on the Mac&nbsp;…&nbsp;it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that&nbsp;…&nbsp;it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”</p><p>Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.</p><p>In greater China, which includes the mainland, Hong Kong, and Taiwan,&nbsp;Apple’s revenue increased over&nbsp;87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic.&nbsp;Every other geographical category, including the Americas and Europe, were also up on an annual basis.</p><p><img src=\"https://static.tigerbbs.com/37a8b45c92174e3c9ab224d9a85f5e2d\" tg-width=\"1910\" tg-height=\"1114\" referrerpolicy=\"no-referrer\"></p><p>Apple’s&nbsp;high-margin&nbsp;services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.</p><p>One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.</p><p>“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.</p><p>However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.</p><p>“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.</p><p>Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks</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\">\nApple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks\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\">2021-04-29 07:12</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>KEY POINTS</b></p><ul><li>Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</li><li>Apple did not issue official guidance for what it expects in the quarter ending in June.</li><li>Apple authorized $90 billion in share buybacks.</li></ul><p>Apple&nbsp;reported&nbsp;a blowout quarter&nbsp;on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</p><p>Apple stock rose over 4% at one point in extended trading.</p><p><img src=\"https://static.tigerbbs.com/4e791f63f460807906f1793c2d58933e\" tg-width=\"1302\" tg-height=\"833\"></p><p>Apple reported double-digit growth in every single one of its product categories, and its&nbsp;most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales&nbsp;did&nbsp;better, with its computers up 70.1% and iPad&nbsp;sales&nbsp;growing nearly 79% on an annual basis.</p><p>Apple said it would increase its dividend by 7%&nbsp;to $0.22 per share&nbsp;and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay&nbsp;and 2019′s $75 billion.</p><p>Here’s how Apple did versus Refinitiv estimates:</p><ul><li><b>EPS</b>:&nbsp;$1.40&nbsp;vs. $0.99 estimated</li><li><b>Revenue</b>:&nbsp;$89.58&nbsp;billion&nbsp;vs. $77.36&nbsp;billion&nbsp;estimated, up 53.7% year-over-year</li><li><b>iPhone revenue</b>:&nbsp;$47.94 billion&nbsp;vs. $41.43&nbsp;billion&nbsp;estimated, up&nbsp;65.5% year-over-year</li><li><b>Services revenue</b>:&nbsp;$16.90 billion&nbsp;vs. $15.57&nbsp;billion&nbsp;estimated, up 26.7% year over&nbsp;year</li><li><b>Other Products revenue</b>:&nbsp;$7.83&nbsp;billion&nbsp;vs. $7.79&nbsp;billion&nbsp;estimated,&nbsp;up 24%&nbsp;year-over-year</li><li><b>Mac revenue</b>:&nbsp;$9.10&nbsp;billion&nbsp;vs. $6.86&nbsp;billion&nbsp;estimated, up 70.1% year-over-year</li><li><b>iPad revenue</b>:&nbsp;$7.80 billion&nbsp;vs. $5.58&nbsp;billion&nbsp;estimated, up 78.9% year-over-year</li><li><b>Gross margin</b>:&nbsp;42.5% vs. 39.8%&nbsp;estimated</li></ul><p>Apple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue&nbsp;guidance since the start of the pandemic, citing uncertainty.&nbsp;This is Apple’s second quarter in a row with double-digit growth in all product categories.&nbsp;Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.</p><p>Apple has said in the past months that its business has been boosted by the pandemic as consumers&nbsp;and businesses&nbsp;bought&nbsp;computers&nbsp;to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies&nbsp;open up.</p><p>Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this&nbsp;moment in their own lives, as well as the optimism consumers seem to feel about better days&nbsp;ahead for all of us.”</p><p>Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac&nbsp;laptops&nbsp;that used its own M1 chips&nbsp;for longer battery life, instead of processors sold by&nbsp;Intel.&nbsp;iPad sales were up&nbsp;nearly 79% year-over-year.</p><p>Neither of those&nbsp;results&nbsp;include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.</p><p>“We’re seeing strong first-time buyers on the Mac&nbsp;…&nbsp;it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that&nbsp;…&nbsp;it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”</p><p>Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.</p><p>In greater China, which includes the mainland, Hong Kong, and Taiwan,&nbsp;Apple’s revenue increased over&nbsp;87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic.&nbsp;Every other geographical category, including the Americas and Europe, were also up on an annual basis.</p><p><img src=\"https://static.tigerbbs.com/37a8b45c92174e3c9ab224d9a85f5e2d\" tg-width=\"1910\" tg-height=\"1114\" referrerpolicy=\"no-referrer\"></p><p>Apple’s&nbsp;high-margin&nbsp;services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.</p><p>One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.</p><p>“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.</p><p>However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.</p><p>“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.</p><p>Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137964402","content_text":"KEY POINTSApple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple did not issue official guidance for what it expects in the quarter ending in June.Apple authorized $90 billion in share buybacks.Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple stock rose over 4% at one point in extended trading.Apple reported double-digit growth in every single one of its product categories, and its most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales did better, with its computers up 70.1% and iPad sales growing nearly 79% on an annual basis.Apple said it would increase its dividend by 7% to $0.22 per share and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay and 2019′s $75 billion.Here’s how Apple did versus Refinitiv estimates:EPS: $1.40 vs. $0.99 estimatedRevenue: $89.58 billion vs. $77.36 billion estimated, up 53.7% year-over-yeariPhone revenue: $47.94 billion vs. $41.43 billion estimated, up 65.5% year-over-yearServices revenue: $16.90 billion vs. $15.57 billion estimated, up 26.7% year over yearOther Products revenue: $7.83 billion vs. $7.79 billion estimated, up 24% year-over-yearMac revenue: $9.10 billion vs. $6.86 billion estimated, up 70.1% year-over-yeariPad revenue: $7.80 billion vs. $5.58 billion estimated, up 78.9% year-over-yearGross margin: 42.5% vs. 39.8% estimatedApple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue guidance since the start of the pandemic, citing uncertainty. This is Apple’s second quarter in a row with double-digit growth in all product categories. Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.Apple has said in the past months that its business has been boosted by the pandemic as consumers and businesses bought computers to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies open up.Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us.”Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac laptops that used its own M1 chips for longer battery life, instead of processors sold by Intel. iPad sales were up nearly 79% year-over-year.Neither of those results include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.“We’re seeing strong first-time buyers on the Mac … it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that … it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.In greater China, which includes the mainland, Hong Kong, and Taiwan, Apple’s revenue increased over 87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic. Every other geographical category, including the Americas and Europe, were also up on an annual basis.Apple’s high-margin services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.","news_type":1},"isVote":1,"tweetType":1,"viewCount":230,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":172261547,"gmtCreate":1626962885289,"gmtModify":1703481484415,"author":{"id":"3554859287325506","authorId":"3554859287325506","name":"vnwz","avatar":"https://static.tigerbbs.com/6c3b1f2a7b28a9fd6ab1b9281f1127bd","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554859287325506","authorIdStr":"3554859287325506"},"themes":[],"htmlText":"Awesome!","listText":"Awesome!","text":"Awesome!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/172261547","repostId":"1100978830","repostType":4,"repost":{"id":"1100978830","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626961977,"share":"https://ttm.financial/m/news/1100978830?lang=&edition=fundamental","pubTime":"2021-07-22 21:52","market":"us","language":"en","title":"Microsoft rose over 1%, reaching record high","url":"https://stock-news.laohu8.com/highlight/detail?id=1100978830","media":"Tiger Newspress","summary":"(July 22) Microsoft rose over 1%, reaching record high.","content":"<p>(July 22)&nbsp;<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> rose over 1%, reaching record high.</p>\n<p><img src=\"https://static.tigerbbs.com/d3e01b3a96334ab3ef727b20a2606ffb\" tg-width=\"704\" tg-height=\"486\" referrerpolicy=\"no-referrer\"></p>\n<p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Microsoft rose over 1%, reaching record high</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\">\nMicrosoft rose over 1%, reaching record high\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\">2021-07-22 21:52</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(July 22)&nbsp;<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> rose over 1%, reaching record high.</p>\n<p><img src=\"https://static.tigerbbs.com/d3e01b3a96334ab3ef727b20a2606ffb\" tg-width=\"704\" tg-height=\"486\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"03086":"华夏纳指","MSFT":"微软","09086":"华夏纳指-U"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100978830","content_text":"(July 22) Microsoft rose over 1%, reaching record high.","news_type":1},"isVote":1,"tweetType":1,"viewCount":269,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109049494,"gmtCreate":1619656290118,"gmtModify":1704727438718,"author":{"id":"3554859287325506","authorId":"3554859287325506","name":"vnwz","avatar":"https://static.tigerbbs.com/6c3b1f2a7b28a9fd6ab1b9281f1127bd","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554859287325506","authorIdStr":"3554859287325506"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/109049494","repostId":"1137964402","repostType":4,"repost":{"id":"1137964402","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1619651546,"share":"https://ttm.financial/m/news/1137964402?lang=&edition=fundamental","pubTime":"2021-04-29 07:12","market":"us","language":"en","title":"Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks","url":"https://stock-news.laohu8.com/highlight/detail?id=1137964402","media":"Tiger Newspress","summary":"Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple did not issue official guidance for what it expects in the quarter ending in June.Apple authorized $90 billion in share buybacks.Apple stock rose over 4% at one point in extended trading.Apple reported double-digit growth in every single one of its product categories, and its most important product line, the iPhone, was up 65","content":"<p><b>KEY POINTS</b></p><ul><li>Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</li><li>Apple did not issue official guidance for what it expects in the quarter ending in June.</li><li>Apple authorized $90 billion in share buybacks.</li></ul><p>Apple&nbsp;reported&nbsp;a blowout quarter&nbsp;on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</p><p>Apple stock rose over 4% at one point in extended trading.</p><p><img src=\"https://static.tigerbbs.com/4e791f63f460807906f1793c2d58933e\" tg-width=\"1302\" tg-height=\"833\"></p><p>Apple reported double-digit growth in every single one of its product categories, and its&nbsp;most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales&nbsp;did&nbsp;better, with its computers up 70.1% and iPad&nbsp;sales&nbsp;growing nearly 79% on an annual basis.</p><p>Apple said it would increase its dividend by 7%&nbsp;to $0.22 per share&nbsp;and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay&nbsp;and 2019′s $75 billion.</p><p>Here’s how Apple did versus Refinitiv estimates:</p><ul><li><b>EPS</b>:&nbsp;$1.40&nbsp;vs. $0.99 estimated</li><li><b>Revenue</b>:&nbsp;$89.58&nbsp;billion&nbsp;vs. $77.36&nbsp;billion&nbsp;estimated, up 53.7% year-over-year</li><li><b>iPhone revenue</b>:&nbsp;$47.94 billion&nbsp;vs. $41.43&nbsp;billion&nbsp;estimated, up&nbsp;65.5% year-over-year</li><li><b>Services revenue</b>:&nbsp;$16.90 billion&nbsp;vs. $15.57&nbsp;billion&nbsp;estimated, up 26.7% year over&nbsp;year</li><li><b>Other Products revenue</b>:&nbsp;$7.83&nbsp;billion&nbsp;vs. $7.79&nbsp;billion&nbsp;estimated,&nbsp;up 24%&nbsp;year-over-year</li><li><b>Mac revenue</b>:&nbsp;$9.10&nbsp;billion&nbsp;vs. $6.86&nbsp;billion&nbsp;estimated, up 70.1% year-over-year</li><li><b>iPad revenue</b>:&nbsp;$7.80 billion&nbsp;vs. $5.58&nbsp;billion&nbsp;estimated, up 78.9% year-over-year</li><li><b>Gross margin</b>:&nbsp;42.5% vs. 39.8%&nbsp;estimated</li></ul><p>Apple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue&nbsp;guidance since the start of the pandemic, citing uncertainty.&nbsp;This is Apple’s second quarter in a row with double-digit growth in all product categories.&nbsp;Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.</p><p>Apple has said in the past months that its business has been boosted by the pandemic as consumers&nbsp;and businesses&nbsp;bought&nbsp;computers&nbsp;to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies&nbsp;open up.</p><p>Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this&nbsp;moment in their own lives, as well as the optimism consumers seem to feel about better days&nbsp;ahead for all of us.”</p><p>Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac&nbsp;laptops&nbsp;that used its own M1 chips&nbsp;for longer battery life, instead of processors sold by&nbsp;Intel.&nbsp;iPad sales were up&nbsp;nearly 79% year-over-year.</p><p>Neither of those&nbsp;results&nbsp;include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.</p><p>“We’re seeing strong first-time buyers on the Mac&nbsp;…&nbsp;it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that&nbsp;…&nbsp;it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”</p><p>Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.</p><p>In greater China, which includes the mainland, Hong Kong, and Taiwan,&nbsp;Apple’s revenue increased over&nbsp;87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic.&nbsp;Every other geographical category, including the Americas and Europe, were also up on an annual basis.</p><p><img src=\"https://static.tigerbbs.com/37a8b45c92174e3c9ab224d9a85f5e2d\" tg-width=\"1910\" tg-height=\"1114\" referrerpolicy=\"no-referrer\"></p><p>Apple’s&nbsp;high-margin&nbsp;services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.</p><p>One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.</p><p>“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.</p><p>However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.</p><p>“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.</p><p>Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks</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\">\nApple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks\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\">2021-04-29 07:12</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>KEY POINTS</b></p><ul><li>Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</li><li>Apple did not issue official guidance for what it expects in the quarter ending in June.</li><li>Apple authorized $90 billion in share buybacks.</li></ul><p>Apple&nbsp;reported&nbsp;a blowout quarter&nbsp;on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</p><p>Apple stock rose over 4% at one point in extended trading.</p><p><img src=\"https://static.tigerbbs.com/4e791f63f460807906f1793c2d58933e\" tg-width=\"1302\" tg-height=\"833\"></p><p>Apple reported double-digit growth in every single one of its product categories, and its&nbsp;most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales&nbsp;did&nbsp;better, with its computers up 70.1% and iPad&nbsp;sales&nbsp;growing nearly 79% on an annual basis.</p><p>Apple said it would increase its dividend by 7%&nbsp;to $0.22 per share&nbsp;and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay&nbsp;and 2019′s $75 billion.</p><p>Here’s how Apple did versus Refinitiv estimates:</p><ul><li><b>EPS</b>:&nbsp;$1.40&nbsp;vs. $0.99 estimated</li><li><b>Revenue</b>:&nbsp;$89.58&nbsp;billion&nbsp;vs. $77.36&nbsp;billion&nbsp;estimated, up 53.7% year-over-year</li><li><b>iPhone revenue</b>:&nbsp;$47.94 billion&nbsp;vs. $41.43&nbsp;billion&nbsp;estimated, up&nbsp;65.5% year-over-year</li><li><b>Services revenue</b>:&nbsp;$16.90 billion&nbsp;vs. $15.57&nbsp;billion&nbsp;estimated, up 26.7% year over&nbsp;year</li><li><b>Other Products revenue</b>:&nbsp;$7.83&nbsp;billion&nbsp;vs. $7.79&nbsp;billion&nbsp;estimated,&nbsp;up 24%&nbsp;year-over-year</li><li><b>Mac revenue</b>:&nbsp;$9.10&nbsp;billion&nbsp;vs. $6.86&nbsp;billion&nbsp;estimated, up 70.1% year-over-year</li><li><b>iPad revenue</b>:&nbsp;$7.80 billion&nbsp;vs. $5.58&nbsp;billion&nbsp;estimated, up 78.9% year-over-year</li><li><b>Gross margin</b>:&nbsp;42.5% vs. 39.8%&nbsp;estimated</li></ul><p>Apple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue&nbsp;guidance since the start of the pandemic, citing uncertainty.&nbsp;This is Apple’s second quarter in a row with double-digit growth in all product categories.&nbsp;Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.</p><p>Apple has said in the past months that its business has been boosted by the pandemic as consumers&nbsp;and businesses&nbsp;bought&nbsp;computers&nbsp;to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies&nbsp;open up.</p><p>Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this&nbsp;moment in their own lives, as well as the optimism consumers seem to feel about better days&nbsp;ahead for all of us.”</p><p>Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac&nbsp;laptops&nbsp;that used its own M1 chips&nbsp;for longer battery life, instead of processors sold by&nbsp;Intel.&nbsp;iPad sales were up&nbsp;nearly 79% year-over-year.</p><p>Neither of those&nbsp;results&nbsp;include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.</p><p>“We’re seeing strong first-time buyers on the Mac&nbsp;…&nbsp;it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that&nbsp;…&nbsp;it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”</p><p>Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.</p><p>In greater China, which includes the mainland, Hong Kong, and Taiwan,&nbsp;Apple’s revenue increased over&nbsp;87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic.&nbsp;Every other geographical category, including the Americas and Europe, were also up on an annual basis.</p><p><img src=\"https://static.tigerbbs.com/37a8b45c92174e3c9ab224d9a85f5e2d\" tg-width=\"1910\" tg-height=\"1114\" referrerpolicy=\"no-referrer\"></p><p>Apple’s&nbsp;high-margin&nbsp;services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.</p><p>One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.</p><p>“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.</p><p>However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.</p><p>“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.</p><p>Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137964402","content_text":"KEY POINTSApple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple did not issue official guidance for what it expects in the quarter ending in June.Apple authorized $90 billion in share buybacks.Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple stock rose over 4% at one point in extended trading.Apple reported double-digit growth in every single one of its product categories, and its most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales did better, with its computers up 70.1% and iPad sales growing nearly 79% on an annual basis.Apple said it would increase its dividend by 7% to $0.22 per share and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay and 2019′s $75 billion.Here’s how Apple did versus Refinitiv estimates:EPS: $1.40 vs. $0.99 estimatedRevenue: $89.58 billion vs. $77.36 billion estimated, up 53.7% year-over-yeariPhone revenue: $47.94 billion vs. $41.43 billion estimated, up 65.5% year-over-yearServices revenue: $16.90 billion vs. $15.57 billion estimated, up 26.7% year over yearOther Products revenue: $7.83 billion vs. $7.79 billion estimated, up 24% year-over-yearMac revenue: $9.10 billion vs. $6.86 billion estimated, up 70.1% year-over-yeariPad revenue: $7.80 billion vs. $5.58 billion estimated, up 78.9% year-over-yearGross margin: 42.5% vs. 39.8% estimatedApple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue guidance since the start of the pandemic, citing uncertainty. This is Apple’s second quarter in a row with double-digit growth in all product categories. Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.Apple has said in the past months that its business has been boosted by the pandemic as consumers and businesses bought computers to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies open up.Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us.”Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac laptops that used its own M1 chips for longer battery life, instead of processors sold by Intel. iPad sales were up nearly 79% year-over-year.Neither of those results include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.“We’re seeing strong first-time buyers on the Mac … it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that … it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.In greater China, which includes the mainland, Hong Kong, and Taiwan, Apple’s revenue increased over 87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic. Every other geographical category, including the Americas and Europe, were also up on an annual basis.Apple’s high-margin services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.","news_type":1},"isVote":1,"tweetType":1,"viewCount":230,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835936678,"gmtCreate":1629683565394,"gmtModify":1676530097035,"author":{"id":"3554859287325506","authorId":"3554859287325506","name":"vnwz","avatar":"https://static.tigerbbs.com/6c3b1f2a7b28a9fd6ab1b9281f1127bd","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554859287325506","authorIdStr":"3554859287325506"},"themes":[],"htmlText":"Nice!","listText":"Nice!","text":"Nice!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835936678","repostId":"2161745814","repostType":4,"repost":{"id":"2161745814","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1629493200,"share":"https://ttm.financial/m/news/2161745814?lang=&edition=fundamental","pubTime":"2021-08-21 05:00","market":"us","language":"en","title":"S&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians","url":"https://stock-news.laohu8.com/highlight/detail?id=2161745814","media":"Dow Jones","summary":"It is an unbearable lightness of being for the S&P 500 index.\nThe broad-market measure of a basket o","content":"<p>It is an unbearable lightness of being for the S&amp;P 500 index.</p>\n<p>The broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.</p>\n<p>Yet, the S&amp;P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.</p>\n<p><img src=\"https://static.tigerbbs.com/d5d7a23827730d58001a0b40420acd79\" tg-width=\"981\" tg-height=\"437\" width=\"100%\" height=\"auto\">It is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&amp;P 500 index, the attached table shows.</p>\n<p>There clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.</p>\n<p>Buying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&amp;P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.</p>\n<p>There is, of course, a sense that the party for stocks can’t last forever.</p>\n<p>So, how does the market tend to perform in period after such a protracted bullish run?</p>\n<p>The data set is very small but the S&amp;P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.</p>\n<p><img src=\"https://static.tigerbbs.com/d556c67fc01e330a57abb4c65802c29d\" tg-width=\"964\" tg-height=\"626\" width=\"100%\" height=\"auto\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians</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\">\nS&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-08-21 05:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>It is an unbearable lightness of being for the S&amp;P 500 index.</p>\n<p>The broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.</p>\n<p>Yet, the S&amp;P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.</p>\n<p><img src=\"https://static.tigerbbs.com/d5d7a23827730d58001a0b40420acd79\" tg-width=\"981\" tg-height=\"437\" width=\"100%\" height=\"auto\">It is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&amp;P 500 index, the attached table shows.</p>\n<p>There clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.</p>\n<p>Buying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&amp;P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.</p>\n<p>There is, of course, a sense that the party for stocks can’t last forever.</p>\n<p>So, how does the market tend to perform in period after such a protracted bullish run?</p>\n<p>The data set is very small but the S&amp;P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.</p>\n<p><img src=\"https://static.tigerbbs.com/d556c67fc01e330a57abb4c65802c29d\" tg-width=\"964\" tg-height=\"626\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SPY":"标普500ETF","UPRO":"三倍做多标普500ETF","SH":"标普500反向ETF","SDS":"两倍做空标普500ETF",".SPX":"S&P 500 Index","SPXU":"三倍做空标普500ETF","OEF":"标普100指数ETF-iShares","OEX":"标普100","IVV":"标普500指数ETF","SSO":"两倍做多标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161745814","content_text":"It is an unbearable lightness of being for the S&P 500 index.\nThe broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.\nYet, the S&P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.\nIt is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&P 500 index, the attached table shows.\nThere clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.\nBuying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.\nThere is, of course, a sense that the party for stocks can’t last forever.\nSo, how does the market tend to perform in period after such a protracted bullish run?\nThe data set is very small but the S&P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.","news_type":1},"isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112860734,"gmtCreate":1622860720628,"gmtModify":1704192602493,"author":{"id":"3554859287325506","authorId":"3554859287325506","name":"vnwz","avatar":"https://static.tigerbbs.com/6c3b1f2a7b28a9fd6ab1b9281f1127bd","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554859287325506","authorIdStr":"3554859287325506"},"themes":[],"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/112860734","repostId":"1175623977","repostType":4,"repost":{"id":"1175623977","kind":"news","pubTimestamp":1622857814,"share":"https://ttm.financial/m/news/1175623977?lang=&edition=fundamental","pubTime":"2021-06-05 09:50","market":"us","language":"en","title":"Nvidia Stock: Is It Still A Good Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1175623977","media":"seekingalpha","summary":"Summary\n\nNvidia's stock price reaches a new historical high, but analysts' target prices and histori","content":"<p><b>Summary</b></p>\n<ul>\n <li>Nvidia's stock price reaches a new historical high, but analysts' target prices and historical &amp; peer valuation comparisons suggest that NVDA's future upside could be limited.</li>\n <li>NVDA's record-high stock price and premium valuations are justified to a large extent by its above-expectations quarterly results and the strong performance of its gaming &amp; data center businesses.</li>\n <li>Nvidia Corporation is not a good buy now, as expectations are relatively high now as evidenced by its valuations and there are considerable risks relating to earnings disappointment.</li>\n <li>I think that a Neutral rating for Nvidia is fair; the company's long-term growth prospects are good, but it will be challenging for the stock to meet the market's near-term growth expectations.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8500b66052f55b26703173429661952\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>Photo by Justin Sullivan/Getty Images News via Getty Images</span></p>\n<p><b>Elevator Pitch</b></p>\n<p>I have a Neutral rating assigned to Nvidia Corporation (NVDA).</p>\n<p>Nvidia's stock price reached a new historical high, but analysts' target prices and historical &amp; peer valuation comparisons suggest that NVDA's future upside could be limited. NVDA's record-high stock price and premium valuations are justified to a large extent by its above-expectations quarterly results and the strong performance of its gaming &amp; data center businesses.</p>\n<p>Nvidia Corporation is not a good buy now, in my view, as expectations are relatively high now as evidenced by its valuations and there are considerable risks relating to earnings disappointment. I think that a Neutral rating for Nvidia is fair; the company's long-term growth prospects are good, but it will be challenging for the stock to meet the market's near-term growth expectations.</p>\n<p><b>Company Description</b></p>\n<p>On its investor relations website, Nvidia Corporation&nbsp;calls itself&nbsp;\"the pioneer of GPU (Graphics Processing Unit)-accelerated computing\", a company focused on \"products and platforms for the large, growing markets of gaming, professional visualization, data center, and automotive.\" NVDA was started in&nbsp;1993&nbsp;and listed on Nasdaq in 1999.</p>\n<p>Nvidia generated&nbsp;47% and 40%&nbsp;of the company's FY 2021 (YE January 31) revenue from its gaming and data center markets, respectively. The professional visualization, automotive, and OEM &amp; others markets accounted for the remaining 6%, 3% and 4% of NVDA's sales, respectively in the most recent fiscal year.</p>\n<p>The company also derived&nbsp;27%, 23%, 19% and 7%&nbsp;of its top line from Taiwan, China, the US and Europe (based on where its direct customers are located), respectively in FY 2021. The rest of Asia Pacific and other countries contributed the other 19% and 5% of NVDA's revenue in the last fiscal year, respectively.</p>\n<p><b>Nvidia Stock Price</b></p>\n<p>It has been a great one year and five months for Nvidia's shareholders, with respect to the company's stock price performance. Nvidia's share price rose by +186% from&nbsp;$234.83&nbsp;as of December 31, 2019 to $671.13 as of June 2, 2021.</p>\n<p>The majority of Wall Street seem to be positive on Nvidia, with&nbsp;65% and 20%&nbsp;of the sell-side analysts covering the stock having \"Very Bullish\" and \"Bullish\" ratings for the stock, respectively. But the analysts' target prices tell a different story. Based on S&amp;P Capital data, the mean sell-side target price for Nvidia Corporation is $709.26, while the median target price set by analysts is $720. In other words, the market on average only expects a +5%-6% upside for Nvidia's stock price of $671.13 as of June 2, 2021.</p>\n<p>While it is possible that some of the sell-side analysts might have yet to publish new research reports updating their target prices, the relatively limited upside implied by Wall Street analysts' target prices does suggest Nvidia's stock price and valuations are not particularly attractive.</p>\n<p>As per the valuation comparison tables below, the market currently values Nvidia Corporation at a significant premium to its historical valuation averages and peer comparables.</p>\n<p><b>Historical Valuation Comparison For Nvidia Corporation</b></p>\n<table>\n <tbody>\n  <tr>\n   <td><b>Nvidia's Valuation Multiple</b></td>\n   <td><b>Consensus Forward Next Twelve Months' Enterprise Value-To-Revenue</b></td>\n   <td><b>Consensus Forward Next Twelve Months' EV/EBITDA</b></td>\n   <td><b>Consensus Forward Next Twelve Months' Normalized P/E</b></td>\n  </tr>\n  <tr>\n   <td>Latest Valuation Multiple As Of June 2, 2021</td>\n   <td>16.3</td>\n   <td>42.0</td>\n   <td>41.9</td>\n  </tr>\n  <tr>\n   <td>Historical Three-Year Average Valuation Multiple</td>\n   <td>12.1</td>\n   <td>39.1</td>\n   <td>36.6</td>\n  </tr>\n  <tr>\n   <td>Historical Five-Year Average Valuation Multiple</td>\n   <td>10.7</td>\n   <td>34.0</td>\n   <td>35.9</td>\n  </tr>\n  <tr>\n   <td>Historical 10-Year Average Valuation Multiple</td>\n   <td>6.1</td>\n   <td>20.9</td>\n   <td>25.5</td>\n  </tr>\n </tbody>\n</table>\n<p>Source: S&amp;P Capital IQ</p>\n<p><b>Peer Valuation Comparison For Nvidia Corporation</b></p>\n<table>\n <tbody>\n  <tr>\n   <td><b>Stock</b></td>\n   <td><b>Consensus Current Fiscal Year Enterprise Value-To-Revenue</b></td>\n   <td><b>Consensus Forward One Fiscal Year Enterprise Value-To-Revenue</b></td>\n   <td><b>Consensus Current Fiscal Year EV/EBITDA</b></td>\n   <td><b>Consensus Forward One Fiscal Year EV/EBITDA</b></td>\n   <td><b>Consensus Current Fiscal Year Normalized P/E</b></td>\n   <td><b>Consensus Forward One Fiscal Year Normalized P/E</b></td>\n  </tr>\n  <tr>\n   <td>Nvidia Corporation</td>\n   <td>16.4</td>\n   <td>14.8</td>\n   <td>41.4</td>\n   <td>40.9</td>\n   <td>42.3</td>\n   <td>39.1</td>\n  </tr>\n  <tr>\n   <td>Advanced Micro Devices, Inc (AMD)</td>\n   <td>6.4</td>\n   <td>5.4</td>\n   <td>26.9</td>\n   <td>21.7</td>\n   <td>37.9</td>\n   <td>30.6</td>\n  </tr>\n  <tr>\n   <td>Intel Corporation (INTC)</td>\n   <td>3.4</td>\n   <td>3.3</td>\n   <td>7.6</td>\n   <td>7.3</td>\n   <td>12.4</td>\n   <td>12.6</td>\n  </tr>\n </tbody>\n</table>\n<p>Source: S&amp;P Capital IQ</p>\n<p>In the next section of this article, I examine Nvidia Corporation's recent financial performance to see if the stock's high stock price and valuations are justified.</p>\n<p><b>Why Is Nvidia Stock So High?</b></p>\n<p>Nvidia reported the company's&nbsp;1Q FY 2022 (February 1, 2021 to April 30, 2021) financial results&nbsp;last week on May 26, 2021. Nvidia Corporation's most recent quarterly financial performance&nbsp;beat market expectations, and specifically, its core gaming and data center businesses did very well. This justifies NVDA's strong year-to-date 2021 share price performance as highlighted in the preceding section.</p>\n<p>The company's total revenue expanded by +84% YoY and +13% QoQ to&nbsp;$5,661 million&nbsp;in the first quarter of fiscal 2022. This was the highest quarterly revenue in Nvidia's history, and NVDA's top line came in&nbsp;+5%&nbsp;better than what Wall Street analysts were forecasting. Nvidia Corporation's 1Q FY 2022 diluted non-GAAP (mainly adjusted for stock compensation and M&amp;A-related expenses) earnings per share of $3.66 also represented impressive QoQ and YoY growth rates of +18% and +103%, respectively. The company's bottom line was&nbsp;+12% higher&nbsp;than market consensus' quarterly earnings per share forecasts.</p>\n<p>Notably, NVDA's key gaming and data center businesses drove the company's better-than-expected financial performance in the most recent quarter.</p>\n<p>The gaming business' revenue grew by +11% QoQ and +106% YoY to $2,760 million in 1Q FY 2022. The robust growth for the gaming business was mainly attributable to higher gaming demand as a result of Work-From-Home or WFH tailwinds brought about by COVID-19, and the good performance of the company's new GeForce RTX 30 Series GPUs since its introduction to the market in September 2020. Cryptocurrency mining was also another tailwind for NVDA in 1Q FY 2022, which is detailed in the next section of this article.</p>\n<p>Looking ahead, a key growth driver for Nvidia's gaming business in the coming quarters is the recent launch of \"new GeForce RTX 3050 and GeForce RTX 3050 Ti laptops\" with more than 140 \"mass-market\" models available priced as low as $799, as per the company's May 11, 2021&nbsp;media release.</p>\n<p>Separately, sales for Nvidia Corporation's data center business increased by +79% YoY and +8% QoQ to $2,048 million in the first quarter of the current fiscal year, which was also a new historical high. It is also noteworthy that this is the sixth consecutive quarter that the data center business has set a new historical record in terms of quarterly revenue, which is indicative of the business' strong growth momentum.</p>\n<p>Specifically, the&nbsp;completion&nbsp;of the acquisition of Mellanox Technologies in April 2020 has been the key driving force behind the excellent growth of Nvidia Corporation's data center business. According to Mellanox Technologies'&nbsp;corporate profile&nbsp;that is available on its website, the company is a \"supplier of end-to-end Ethernet and InfiniBand intelligent interconnect solutions and services for servers, storage, and hyper-converged infrastructure\", and Nvidia's hyperscale data center clients had strong demand for Mellanox Technologies' products. At the company's recent 1Q FY 2022 results briefing, NVDA also&nbsp;disclosed&nbsp;that it \"achieved key design wins and proof-of-concept trials for the NVIDIA&nbsp;BlueField-2&nbsp;DPU (Data Processing Unit) with cloud service providers and consumer Internet companies.\"</p>\n<p>Moving forward, the increased adoption of the&nbsp;NVIDIA BlueField-2 A100&nbsp;(\"a converged card that combines GPUs and DPUs\" based onmedia release) and the recent launch of the&nbsp;NVIDIA BlueField-3 DPU&nbsp;(referred to the \"first DPU built for AI and accelerated computing\" at company's&nbsp;recent earnings call) in April 2021, are expected to boost the future revenue growth prospects of the data center business.</p>\n<p>Given that Nvidia Corporation benefited from WFH tailwinds to a large extent in FY 2021, it is no surprise that the market expects the company's top line and bottom line growth to slow in FY 2022 as per S&amp;P Capital IQ estimates. Market consensus sees Nvidia Corporation's revenue growth moderating from +53% in FY 2021 to 49% in FY 2022, while sell-side analysts anticipate that NVDA's normalized earnings growth will go from +75% in the most recent fiscal year to +59% in the current fiscal year.</p>\n<p>More importantly, I think that there could be downside to Nvidia Corporation's FY 2022 financial forecasts, which I elaborate on in the subsequent section.</p>\n<p><b>Is Nvidia A Good Buy Now?</b></p>\n<p>I don't think that Nvidia is a good buy now. As highlighted in an earlier section of the article, Nvidia Corporation's stock price is high and its valuations are rich. More significantly, I see downside risks for NVDA's FY 2022 earnings, which I explain below.</p>\n<p>Nvidia's strong gaming business performance in 1Q FY 2022 was partly driven by cryptocurrency mining. The company&nbsp;acknowledged&nbsp;at its recent 1Q FY 2022 earnings call that its \"gaming (business) also benefited from crypto mining demand\", while emphasizing that \"it's hard to estimate exactly how much and where crypto mining is being done.\" Assuming that the price of cryptocurrencies drop significantly, demand for Nvidia's gaming GPUs could be adversely impacted. Notably, Nvidia's stock price fell to a \"16-month low\" in late-November 2018, after the price of bitcoin dropped by -30% in a week, according to a November 26, 2018<i>PC Gamer</i>&nbsp;article. The possibility of a repeat of such volatility in the price of cryptocurrencies and Nvidia's share price can't be ruled out.</p>\n<p>For NVDA's other key data center business, the current semiconductor chip shortage situation is one to watch. Charlie Boyle, who is the general manager of the Nvidia&nbsp;DGX division,mentioned&nbsp;in a recent April 2021 interview with The Data Center Podcast that the data center business \"hasn't been short on CPUs or GPUs\" although \"it's taken a lot of extra work by the company's operations team to source other components.\" The chip shortage represents another potential downside risk to Nvidia Corporation's FY 2022 revenue &amp; earnings, although it does not seem to be an issue for now.</p>\n<p>A stock is a good buy when its share price and valuation reflect relatively modest expectations, and there is a good chance of upside surprises. The reverse is true for Nvidia now i.e. lofty expectations and a high probability of downside surprises.</p>\n<p><b>Is Nvidia A Good Stock To Buy Now?</b></p>\n<p>I like Nvidia as a company and I am positive on its long-term growth trajectory. However, I don't see Nvidia as a good stock to buy now.</p>\n<p>As per the chart below, Nvidia operates in fast-growing markets with lots of potential in the future. Things like virtual reality, augmented reality and artificial intelligence are important future trends, and Nvidia Corporation is a key beneficiary of such growth tailwinds. Separately, Nvidia's&nbsp;proposed acquisition&nbsp;of ARM Limited expected to conclude in&nbsp;early-2022, will help to&nbsp;address&nbsp;any semiconductor chip shortage issues in the medium term. Also, paying for the majority of ARM Limited acquisition consideration with its own&nbsp;shares&nbsp;(as opposed) is positive. From a capital allocation perspective, it is value-accretive to repurchase shares when one's shares are under-valued and issue shares (to drive future growth) when one's shares are over-valued.</p>\n<p><b>An Overview Of Nvidia's Key Markets And Their Respective Growth Drivers</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3270747f008d9c111b3a24d373eedcfa\" tg-width=\"640\" tg-height=\"242\"><span>Source: Nvidia's 1Q FY 2022 Investor Presentation Slides</span></p>\n<p>On the flip side, as explained in the prior section of this article, growth expectations for Nvidia Corporation are very high, which translate into a high probability of earnings disappointment and valuation de-rating as a result.</p>\n<p>Nvidia Corporation's key risks are a larger-than-expected decline in the price of cryptocurrencies which depresses gaming GPU demand, and the semiconductor chip shortage situation worsening to the point that it affects the company's data center business.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia Stock: Is It Still A Good Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-05 09:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433129-nvidia-stock-still-good-buy><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nNvidia's stock price reaches a new historical high, but analysts' target prices and historical & peer valuation comparisons suggest that NVDA's future upside could be limited.\nNVDA's record-...</p>\n\n<a href=\"https://seekingalpha.com/article/4433129-nvidia-stock-still-good-buy\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://seekingalpha.com/article/4433129-nvidia-stock-still-good-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175623977","content_text":"Summary\n\nNvidia's stock price reaches a new historical high, but analysts' target prices and historical & peer valuation comparisons suggest that NVDA's future upside could be limited.\nNVDA's record-high stock price and premium valuations are justified to a large extent by its above-expectations quarterly results and the strong performance of its gaming & data center businesses.\nNvidia Corporation is not a good buy now, as expectations are relatively high now as evidenced by its valuations and there are considerable risks relating to earnings disappointment.\nI think that a Neutral rating for Nvidia is fair; the company's long-term growth prospects are good, but it will be challenging for the stock to meet the market's near-term growth expectations.\n\nPhoto by Justin Sullivan/Getty Images News via Getty Images\nElevator Pitch\nI have a Neutral rating assigned to Nvidia Corporation (NVDA).\nNvidia's stock price reached a new historical high, but analysts' target prices and historical & peer valuation comparisons suggest that NVDA's future upside could be limited. NVDA's record-high stock price and premium valuations are justified to a large extent by its above-expectations quarterly results and the strong performance of its gaming & data center businesses.\nNvidia Corporation is not a good buy now, in my view, as expectations are relatively high now as evidenced by its valuations and there are considerable risks relating to earnings disappointment. I think that a Neutral rating for Nvidia is fair; the company's long-term growth prospects are good, but it will be challenging for the stock to meet the market's near-term growth expectations.\nCompany Description\nOn its investor relations website, Nvidia Corporation calls itself \"the pioneer of GPU (Graphics Processing Unit)-accelerated computing\", a company focused on \"products and platforms for the large, growing markets of gaming, professional visualization, data center, and automotive.\" NVDA was started in 1993 and listed on Nasdaq in 1999.\nNvidia generated 47% and 40% of the company's FY 2021 (YE January 31) revenue from its gaming and data center markets, respectively. The professional visualization, automotive, and OEM & others markets accounted for the remaining 6%, 3% and 4% of NVDA's sales, respectively in the most recent fiscal year.\nThe company also derived 27%, 23%, 19% and 7% of its top line from Taiwan, China, the US and Europe (based on where its direct customers are located), respectively in FY 2021. The rest of Asia Pacific and other countries contributed the other 19% and 5% of NVDA's revenue in the last fiscal year, respectively.\nNvidia Stock Price\nIt has been a great one year and five months for Nvidia's shareholders, with respect to the company's stock price performance. Nvidia's share price rose by +186% from $234.83 as of December 31, 2019 to $671.13 as of June 2, 2021.\nThe majority of Wall Street seem to be positive on Nvidia, with 65% and 20% of the sell-side analysts covering the stock having \"Very Bullish\" and \"Bullish\" ratings for the stock, respectively. But the analysts' target prices tell a different story. Based on S&P Capital data, the mean sell-side target price for Nvidia Corporation is $709.26, while the median target price set by analysts is $720. In other words, the market on average only expects a +5%-6% upside for Nvidia's stock price of $671.13 as of June 2, 2021.\nWhile it is possible that some of the sell-side analysts might have yet to publish new research reports updating their target prices, the relatively limited upside implied by Wall Street analysts' target prices does suggest Nvidia's stock price and valuations are not particularly attractive.\nAs per the valuation comparison tables below, the market currently values Nvidia Corporation at a significant premium to its historical valuation averages and peer comparables.\nHistorical Valuation Comparison For Nvidia Corporation\n\n\n\nNvidia's Valuation Multiple\nConsensus Forward Next Twelve Months' Enterprise Value-To-Revenue\nConsensus Forward Next Twelve Months' EV/EBITDA\nConsensus Forward Next Twelve Months' Normalized P/E\n\n\nLatest Valuation Multiple As Of June 2, 2021\n16.3\n42.0\n41.9\n\n\nHistorical Three-Year Average Valuation Multiple\n12.1\n39.1\n36.6\n\n\nHistorical Five-Year Average Valuation Multiple\n10.7\n34.0\n35.9\n\n\nHistorical 10-Year Average Valuation Multiple\n6.1\n20.9\n25.5\n\n\n\nSource: S&P Capital IQ\nPeer Valuation Comparison For Nvidia Corporation\n\n\n\nStock\nConsensus Current Fiscal Year Enterprise Value-To-Revenue\nConsensus Forward One Fiscal Year Enterprise Value-To-Revenue\nConsensus Current Fiscal Year EV/EBITDA\nConsensus Forward One Fiscal Year EV/EBITDA\nConsensus Current Fiscal Year Normalized P/E\nConsensus Forward One Fiscal Year Normalized P/E\n\n\nNvidia Corporation\n16.4\n14.8\n41.4\n40.9\n42.3\n39.1\n\n\nAdvanced Micro Devices, Inc (AMD)\n6.4\n5.4\n26.9\n21.7\n37.9\n30.6\n\n\nIntel Corporation (INTC)\n3.4\n3.3\n7.6\n7.3\n12.4\n12.6\n\n\n\nSource: S&P Capital IQ\nIn the next section of this article, I examine Nvidia Corporation's recent financial performance to see if the stock's high stock price and valuations are justified.\nWhy Is Nvidia Stock So High?\nNvidia reported the company's 1Q FY 2022 (February 1, 2021 to April 30, 2021) financial results last week on May 26, 2021. Nvidia Corporation's most recent quarterly financial performance beat market expectations, and specifically, its core gaming and data center businesses did very well. This justifies NVDA's strong year-to-date 2021 share price performance as highlighted in the preceding section.\nThe company's total revenue expanded by +84% YoY and +13% QoQ to $5,661 million in the first quarter of fiscal 2022. This was the highest quarterly revenue in Nvidia's history, and NVDA's top line came in +5% better than what Wall Street analysts were forecasting. Nvidia Corporation's 1Q FY 2022 diluted non-GAAP (mainly adjusted for stock compensation and M&A-related expenses) earnings per share of $3.66 also represented impressive QoQ and YoY growth rates of +18% and +103%, respectively. The company's bottom line was +12% higher than market consensus' quarterly earnings per share forecasts.\nNotably, NVDA's key gaming and data center businesses drove the company's better-than-expected financial performance in the most recent quarter.\nThe gaming business' revenue grew by +11% QoQ and +106% YoY to $2,760 million in 1Q FY 2022. The robust growth for the gaming business was mainly attributable to higher gaming demand as a result of Work-From-Home or WFH tailwinds brought about by COVID-19, and the good performance of the company's new GeForce RTX 30 Series GPUs since its introduction to the market in September 2020. Cryptocurrency mining was also another tailwind for NVDA in 1Q FY 2022, which is detailed in the next section of this article.\nLooking ahead, a key growth driver for Nvidia's gaming business in the coming quarters is the recent launch of \"new GeForce RTX 3050 and GeForce RTX 3050 Ti laptops\" with more than 140 \"mass-market\" models available priced as low as $799, as per the company's May 11, 2021 media release.\nSeparately, sales for Nvidia Corporation's data center business increased by +79% YoY and +8% QoQ to $2,048 million in the first quarter of the current fiscal year, which was also a new historical high. It is also noteworthy that this is the sixth consecutive quarter that the data center business has set a new historical record in terms of quarterly revenue, which is indicative of the business' strong growth momentum.\nSpecifically, the completion of the acquisition of Mellanox Technologies in April 2020 has been the key driving force behind the excellent growth of Nvidia Corporation's data center business. According to Mellanox Technologies' corporate profile that is available on its website, the company is a \"supplier of end-to-end Ethernet and InfiniBand intelligent interconnect solutions and services for servers, storage, and hyper-converged infrastructure\", and Nvidia's hyperscale data center clients had strong demand for Mellanox Technologies' products. At the company's recent 1Q FY 2022 results briefing, NVDA also disclosed that it \"achieved key design wins and proof-of-concept trials for the NVIDIA BlueField-2 DPU (Data Processing Unit) with cloud service providers and consumer Internet companies.\"\nMoving forward, the increased adoption of the NVIDIA BlueField-2 A100 (\"a converged card that combines GPUs and DPUs\" based onmedia release) and the recent launch of the NVIDIA BlueField-3 DPU (referred to the \"first DPU built for AI and accelerated computing\" at company's recent earnings call) in April 2021, are expected to boost the future revenue growth prospects of the data center business.\nGiven that Nvidia Corporation benefited from WFH tailwinds to a large extent in FY 2021, it is no surprise that the market expects the company's top line and bottom line growth to slow in FY 2022 as per S&P Capital IQ estimates. Market consensus sees Nvidia Corporation's revenue growth moderating from +53% in FY 2021 to 49% in FY 2022, while sell-side analysts anticipate that NVDA's normalized earnings growth will go from +75% in the most recent fiscal year to +59% in the current fiscal year.\nMore importantly, I think that there could be downside to Nvidia Corporation's FY 2022 financial forecasts, which I elaborate on in the subsequent section.\nIs Nvidia A Good Buy Now?\nI don't think that Nvidia is a good buy now. As highlighted in an earlier section of the article, Nvidia Corporation's stock price is high and its valuations are rich. More significantly, I see downside risks for NVDA's FY 2022 earnings, which I explain below.\nNvidia's strong gaming business performance in 1Q FY 2022 was partly driven by cryptocurrency mining. The company acknowledged at its recent 1Q FY 2022 earnings call that its \"gaming (business) also benefited from crypto mining demand\", while emphasizing that \"it's hard to estimate exactly how much and where crypto mining is being done.\" Assuming that the price of cryptocurrencies drop significantly, demand for Nvidia's gaming GPUs could be adversely impacted. Notably, Nvidia's stock price fell to a \"16-month low\" in late-November 2018, after the price of bitcoin dropped by -30% in a week, according to a November 26, 2018PC Gamer article. The possibility of a repeat of such volatility in the price of cryptocurrencies and Nvidia's share price can't be ruled out.\nFor NVDA's other key data center business, the current semiconductor chip shortage situation is one to watch. Charlie Boyle, who is the general manager of the Nvidia DGX division,mentioned in a recent April 2021 interview with The Data Center Podcast that the data center business \"hasn't been short on CPUs or GPUs\" although \"it's taken a lot of extra work by the company's operations team to source other components.\" The chip shortage represents another potential downside risk to Nvidia Corporation's FY 2022 revenue & earnings, although it does not seem to be an issue for now.\nA stock is a good buy when its share price and valuation reflect relatively modest expectations, and there is a good chance of upside surprises. The reverse is true for Nvidia now i.e. lofty expectations and a high probability of downside surprises.\nIs Nvidia A Good Stock To Buy Now?\nI like Nvidia as a company and I am positive on its long-term growth trajectory. However, I don't see Nvidia as a good stock to buy now.\nAs per the chart below, Nvidia operates in fast-growing markets with lots of potential in the future. Things like virtual reality, augmented reality and artificial intelligence are important future trends, and Nvidia Corporation is a key beneficiary of such growth tailwinds. Separately, Nvidia's proposed acquisition of ARM Limited expected to conclude in early-2022, will help to address any semiconductor chip shortage issues in the medium term. Also, paying for the majority of ARM Limited acquisition consideration with its own shares (as opposed) is positive. From a capital allocation perspective, it is value-accretive to repurchase shares when one's shares are under-valued and issue shares (to drive future growth) when one's shares are over-valued.\nAn Overview Of Nvidia's Key Markets And Their Respective Growth Drivers\nSource: Nvidia's 1Q FY 2022 Investor Presentation Slides\nOn the flip side, as explained in the prior section of this article, growth expectations for Nvidia Corporation are very high, which translate into a high probability of earnings disappointment and valuation de-rating as a result.\nNvidia Corporation's key risks are a larger-than-expected decline in the price of cryptocurrencies which depresses gaming GPU demand, and the semiconductor chip shortage situation worsening to the point that it affects the company's data center business.","news_type":1},"isVote":1,"tweetType":1,"viewCount":527,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835936364,"gmtCreate":1629683551358,"gmtModify":1676530097051,"author":{"id":"3554859287325506","authorId":"3554859287325506","name":"vnwz","avatar":"https://static.tigerbbs.com/6c3b1f2a7b28a9fd6ab1b9281f1127bd","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554859287325506","authorIdStr":"3554859287325506"},"themes":[],"htmlText":"Nice!","listText":"Nice!","text":"Nice!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835936364","repostId":"2161745814","repostType":4,"repost":{"id":"2161745814","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1629493200,"share":"https://ttm.financial/m/news/2161745814?lang=&edition=fundamental","pubTime":"2021-08-21 05:00","market":"us","language":"en","title":"S&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians","url":"https://stock-news.laohu8.com/highlight/detail?id=2161745814","media":"Dow Jones","summary":"It is an unbearable lightness of being for the S&P 500 index.\nThe broad-market measure of a basket o","content":"<p>It is an unbearable lightness of being for the S&amp;P 500 index.</p>\n<p>The broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.</p>\n<p>Yet, the S&amp;P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.</p>\n<p><img src=\"https://static.tigerbbs.com/d5d7a23827730d58001a0b40420acd79\" tg-width=\"981\" tg-height=\"437\" width=\"100%\" height=\"auto\">It is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&amp;P 500 index, the attached table shows.</p>\n<p>There clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.</p>\n<p>Buying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&amp;P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.</p>\n<p>There is, of course, a sense that the party for stocks can’t last forever.</p>\n<p>So, how does the market tend to perform in period after such a protracted bullish run?</p>\n<p>The data set is very small but the S&amp;P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.</p>\n<p><img src=\"https://static.tigerbbs.com/d556c67fc01e330a57abb4c65802c29d\" tg-width=\"964\" tg-height=\"626\" width=\"100%\" height=\"auto\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians</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\">\nS&P 500 hasn't fallen 5% from a peak in nearly 200 sessions--what that tells market historians\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-08-21 05:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>It is an unbearable lightness of being for the S&amp;P 500 index.</p>\n<p>The broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.</p>\n<p>Yet, the S&amp;P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.</p>\n<p><img src=\"https://static.tigerbbs.com/d5d7a23827730d58001a0b40420acd79\" tg-width=\"981\" tg-height=\"437\" width=\"100%\" height=\"auto\">It is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&amp;P 500 index, the attached table shows.</p>\n<p>There clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.</p>\n<p>Buying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&amp;P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.</p>\n<p>There is, of course, a sense that the party for stocks can’t last forever.</p>\n<p>So, how does the market tend to perform in period after such a protracted bullish run?</p>\n<p>The data set is very small but the S&amp;P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.</p>\n<p><img src=\"https://static.tigerbbs.com/d556c67fc01e330a57abb4c65802c29d\" tg-width=\"964\" tg-height=\"626\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SPY":"标普500ETF","UPRO":"三倍做多标普500ETF","SH":"标普500反向ETF","SDS":"两倍做空标普500ETF",".SPX":"S&P 500 Index","SPXU":"三倍做空标普500ETF","OEF":"标普100指数ETF-iShares","OEX":"标普100","IVV":"标普500指数ETF","SSO":"两倍做多标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161745814","content_text":"It is an unbearable lightness of being for the S&P 500 index.\nThe broad-market measure of a basket of 500 U.S. stocks has been preternaturally resistant to pullbacks of late, despite concerns about the spread of the highly transmissible delta variant of COVID-19 and worries that the Federal Reserve’s strategy to reduce its bond purchases may be ill-timed.\nYet, the S&P 500 indexSPX,+0.81%has seen a largely uninterrupted ascent to such a degree that Friday marked the 200th session without a drawdown of 5% or more from a recent peak, making the current stretch of levitation the longest such since 2016, when the market went 404 sessions without falling by at least 5% peak to trough.\nIt is extremely rare for the market to enjoy such a period of relative effervescence. Indeed, such lengthy stretches without a 5% pullback or better have occurred on only eight occasions in the S&P 500 index, the attached table shows.\nThere clearly are reasons why the market is clambering higher in the recovery from COVID, set againsta daunting wall of worry. Investors are jockeying between areas of the market that are expected to boost revenue and profit faster than the rest of the pack and those that are beaten down and might benefit from a fuller economic rebound from coronavirus.\nBuying on Monday helped the Dow Jones Industrial AverageDJIA,+0.65%and the S&P 500 indexSPX,+0.81%produce their 35th and 49th record all-time closing highs of 2021, respectively. Meanwhile, the Nasdaq Composite IndexCOMP,+1.19%stands a little over 2.5% from its record high put in on Aug. 5.\nThere is, of course, a sense that the party for stocks can’t last forever.\nSo, how does the market tend to perform in period after such a protracted bullish run?\nThe data set is very small but the S&P 500 has mostly climbed on a median basis, falling 1.2% in the following year but producing a median gain of 17.6% in a two-year period and 55% in the ensuing five-year period. The mean average return is better, showing a gain of 6.5%, 27.4% and 64%, respectively.","news_type":1},"isVote":1,"tweetType":1,"viewCount":439,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}