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09-26

Yes I think valuations are too high! Pullback is normal as investors take profit. Will this be a long pull or just a breather ? That is the million dollar question. S&P is just off at all time high. I believe it's buoyed by the AI run from Nvidia to Oracle to Palantir. How long will the AI run go on? Tesla is coming off a big bear run and buoyed by renewed good news on the car delivery front. Or did the make up with Trump have anything to do with it ? Perhaps new products from Tesla will push it higher. How what about the rest? Has AI run its course like the Internet boom that crashed spectacularly in 2000/01? Looking at big tech it's more software driven now than the hardware run in 2000. Once the prized possession like Gpu/cpu become mainstream or easily attainable that wi

2024-11-06

Trump gonna win again. MAGA rolls on!

2024-08-30

Has Hindenburg been wrong before & what's their source of these numbers?

A Short-Seller Tanks Super Micro Stock. The AI Highflier Has Bigger Problems

2021-05-12

HK market led the wah ?‍♂️

Sorry, the original content has been removed

2021-04-29

Blowout earnings but share price does not reflect. What happen ?

Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks

2021-03-08

Bad news for delivery companies

Go to Tiger App to see more news

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Pullback is normal as investors take profit. Will this be a long pull or just a breather ? That is the million dollar question. S&amp;P is just off at all time high.&nbsp; I believe it's buoyed by the AI run from Nvidia to Oracle to Palantir. How long will the AI run go on? Tesla is coming off a big bear run and buoyed by renewed good news on the car delivery front. Or did the make up with Trump have anything to do with it ? Perhaps new products from Tesla will push it higher. How&nbsp;what about the rest? Has AI run its course like the Internet boom that crashed spectacularly in 2000/01? Looking at big tech it's more software driven now than the hardware run in 2000. Once the prized possession like Gpu/cpu become mainstream or easily attainable that wi","listText":"Yes I think valuations are too high! Pullback is normal as investors take profit. Will this be a long pull or just a breather ? That is the million dollar question. S&amp;P is just off at all time high.&nbsp; I believe it's buoyed by the AI run from Nvidia to Oracle to Palantir. How long will the AI run go on? Tesla is coming off a big bear run and buoyed by renewed good news on the car delivery front. Or did the make up with Trump have anything to do with it ? Perhaps new products from Tesla will push it higher. How&nbsp;what about the rest? Has AI run its course like the Internet boom that crashed spectacularly in 2000/01? Looking at big tech it's more software driven now than the hardware run in 2000. Once the prized possession like Gpu/cpu become mainstream or easily attainable that wi","text":"Yes I think valuations are too high! Pullback is normal as investors take profit. Will this be a long pull or just a breather ? That is the million dollar question. S&P is just off at all time high. I believe it's buoyed by the AI run from Nvidia to Oracle to Palantir. How long will the AI run go on? 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Once the prized possession like Gpu/cpu become mainstream or easily attainable that wi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/482798116483336","isVote":1,"tweetType":1,"viewCount":729,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":367900621189480,"gmtCreate":1730860056247,"gmtModify":1730863468729,"author":{"id":"3569886767172741","authorId":"3569886767172741","name":"Chowk","avatar":"https://static.tigerbbs.com/6c72777d6131b28b334b963505ff00de","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569886767172741","idStr":"3569886767172741"},"themes":[],"htmlText":"Trump gonna win again. MAGA rolls on!","listText":"Trump gonna win again. MAGA rolls on!","text":"Trump gonna win again. MAGA rolls on!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/367900621189480","isVote":1,"tweetType":1,"viewCount":2284,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344099806151048,"gmtCreate":1725033287985,"gmtModify":1725033328915,"author":{"id":"3569886767172741","authorId":"3569886767172741","name":"Chowk","avatar":"https://static.tigerbbs.com/6c72777d6131b28b334b963505ff00de","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569886767172741","idStr":"3569886767172741"},"themes":[],"htmlText":"Has Hindenburg been wrong before &amp; what's their source of these numbers?&nbsp;","listText":"Has Hindenburg been wrong before &amp; what's their source of these numbers?&nbsp;","text":"Has Hindenburg been wrong before & what's their source of these numbers?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/344099806151048","repostId":"2463220010","repostType":2,"repost":{"id":"2463220010","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":1724996051,"share":"https://ttm.financial/m/news/2463220010?lang=en_US&edition=fundamental","pubTime":"2024-08-30 13:34","market":"hk","language":"en","title":"A Short-Seller Tanks Super Micro Stock. The AI Highflier Has Bigger Problems","url":"https://stock-news.laohu8.com/highlight/detail?id=2463220010","media":"Dow Jones","summary":"In 1937, seven million cubic feet of contained hydrogen ignited over Manchester Township, N.J., bringing down a German airship the size of a football field in half a minute as nearby movie cameras whirred. \"This is the worst thing I've ever witnessed,\" said one broadcaster.The vessel's name, Hindenburg, never caught on as a popular brand, as you might imagine. There's no Hindenburg peanut butter or antacid tablets. You surely wouldn't want the name for an investment business. Unless you're a short seller. This unusual breed bets against stocks, and then publishes reports convincing others that those stocks are unrelenting disasters. A short seller would object to naming his firm for the Titanic on the grounds that there were 706 survivors.Super Micro says it \"delivers the broadest selection of AI systems and solutions,\" which sounds like an ideal fit for the moment. But then, I can claim truthfully, more or less, that in my 20s, I made my own computer. What I really did was assemble on","content":"<html><head></head><body><p>In 1937, seven million cubic feet of contained hydrogen ignited over Manchester Township, N.J., bringing down a German airship the size of a football field in half a minute as nearby movie cameras whirred. &#34;This is the worst thing I&#39;ve ever witnessed,&#34; said one broadcaster.</p><p>The vessel&#39;s name, Hindenburg, never caught on as a popular brand, as you might imagine. There&#39;s no Hindenburg peanut butter or antacid tablets. You surely wouldn&#39;t want the name for an investment business. Unless you&#39;re a short seller. This unusual breed bets against stocks, and then publishes reports convincing others that those stocks are unrelenting disasters. A short seller would object to naming his firm for the Titanic on the grounds that there were 706 survivors.</p><p>And so it is that there&#39;s a short seller called Hindenburg Research that has gone after an artificial-intelligence highflier called Super Micro Computer. It isn&#39;t super for Super, because apart from Hindenburg&#39;s name, there&#39;s its record. Four years ago in this column, I reported on my conversation with Trevor Milton, founder of clean energy big-rig start-up Nikola, which was pushing back against a searing Hindenburg report. Investors who bought shares would have &#34;one of the funnest rides they&#39;ve ever had,&#34; Milton told me. I recommended that readers &#34;sit this fun ride out.&#34; Shares are down 99%. Milton was sentenced late last year to four years in prison for securities and wire fraud.</p><p>In May of last year, Hindenburg issued a report arguing that the unit price of publicly traded Icahn Enterprises was &#34;inflated by 75%.&#34; It&#39;s down 74%.</p><p>Hindenburg&#39;s latest turd blossom, dated this past Tuesday, alleges that it has found &#34;glaring accounting red flags&#34; at Super Micro, including &#34;evidence of undisclosed related-party transactions.&#34; Super Micro hasn&#39;t commented, but said in a Wednesday filing that it will delay its annual report to assess &#34;the design and operating effectiveness of its internal controls over financial reporting.&#34; Shares have collapsed from a high of over $1,200 in March to a recent $440.</p><p>Let&#39;s put aside the merits of Hindenburg&#39;s specific claims and check in with a guy who turned bearish on Super Micro long before the short attack, to look for clues on avoiding other stock blowups. Mehdi Hosseini at Susquehanna Financial Group studied electrical engineering and designed chips for National Semiconductor, now part of Texas Instruments, before becoming a stock analyst. He has been following Super Micro since 2013, and says his Sell call late last year was early, but also that the company hasn&#39;t been trading on fundamentals. &#34;This is a meme stock,&#34; he says.</p><p>Super Micro says it &#34;delivers the broadest selection of AI systems and solutions,&#34; which sounds like an ideal fit for the moment. But then, I can claim truthfully, more or less, that in my 20s, I made my own computer. What I really did was assemble one using plug-and-play parts recommended on some website for cash-strapped nerds. The job took 45 minutes and a screwdriver.</p><p>I&#39;m not saying that I know as much as Super Micro. I&#39;m saying that Nvidia knows a heck of a lot more, and it&#39;s not really a subjective matter. It&#39;s a matter of using research-and-development spending as a proxy for smarts. Preliminary results for Super Micro&#39;s latest fiscal year show R&amp;D of $348 million, or 2% of revenue, versus Nvidia&#39;s more than $6 billion, or 10% of revenue. These two companies don&#39;t bring nearly the same thing to the AI arms race.</p><p>Super Micro makes computer systems using its own brand of boxes with key innards from other manufacturers. A partnership with Nvidia made it an AI stock darling. But most of the innovation occurs &#34;upstream,&#34; with Nvidia and its chip-making partner Taiwan Semiconductor, says Hosseini. &#34;Super Micro doesn&#39;t really do the innovation,&#34; he says. &#34;They are a contract manufacturer with willingness to commit working capital.&#34; In other words, Super Micro pays upfront for memory, storage, cases, screws, and whatever else is needed for a partner like Nvidia to sell more high-value chips. It&#39;s a relatively weak hand that limits pricing power. It&#39;s also expensive during periods of extreme growth.</p><p>In Super Micro&#39;s latest fiscal year, its revenue doubled to $14.9 billion, judging by preliminary, not official, really-don&#39;t-rely-too-heavily-on-these-yet results. Earnings were seemingly robust, at $1.34 billion. But free cash flow was negative by $2.6 billion. &#34;Would It Take Another $2B+ of FCF Burn to Double Rev Again?!&#34; asked Hosseini in the title of an Aug. 7 investor note. Super Micro raised funds this year by issuing convertible bonds and shares, and might have to raise more, he wrote.</p><p>Earnings and free cash flow are meant to measure roughly the same thing over time. It&#39;s just that earnings pretend that the timing of revenue matches up neatly with the timing of associated costs, to make it easy for stock investors to compare the two. With free cash flow, there&#39;s no pretending. Nearly 30 years ago, a landmark accounting study found that companies with high &#34;accruals&#34; -- think high earnings and low free cash flow -- go on to produce poor stock returns, on average. More recent studies suggest this &#34;accrual anomaly&#34; has weakened, perhaps because it has been traded away by hedge funds exploiting it.</p><p>But free cash flow is still a useful check on earnings. Maybe a frequent cash burner is making a daredevil bet on growth that will pay off marvelously, as it did for Netflix. But maybe not.</p><p>If the Super Micro selloff tempts, Hosseini says to set aside the accusations and judge matters, for now, by what is known. The company was delisted by Nasdaq in 2018 for delayed financial reporting, and restated results the following year. Some executives from then have been rehired. The founder is both chief executive and chairman, limiting board independence.</p><p>Also, &#34;customers may abandon this partner because of these irregularities,&#34; Hosseini says. In other words, Hindenburg could be a disaster for revenue no matter what we learn about its claims.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>A Short-Seller Tanks Super Micro Stock. The AI Highflier Has Bigger Problems</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\">\nA Short-Seller Tanks Super Micro Stock. The AI Highflier Has Bigger Problems\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-08-30 13:34</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>In 1937, seven million cubic feet of contained hydrogen ignited over Manchester Township, N.J., bringing down a German airship the size of a football field in half a minute as nearby movie cameras whirred. &#34;This is the worst thing I&#39;ve ever witnessed,&#34; said one broadcaster.</p><p>The vessel&#39;s name, Hindenburg, never caught on as a popular brand, as you might imagine. There&#39;s no Hindenburg peanut butter or antacid tablets. You surely wouldn&#39;t want the name for an investment business. Unless you&#39;re a short seller. This unusual breed bets against stocks, and then publishes reports convincing others that those stocks are unrelenting disasters. A short seller would object to naming his firm for the Titanic on the grounds that there were 706 survivors.</p><p>And so it is that there&#39;s a short seller called Hindenburg Research that has gone after an artificial-intelligence highflier called Super Micro Computer. It isn&#39;t super for Super, because apart from Hindenburg&#39;s name, there&#39;s its record. Four years ago in this column, I reported on my conversation with Trevor Milton, founder of clean energy big-rig start-up Nikola, which was pushing back against a searing Hindenburg report. Investors who bought shares would have &#34;one of the funnest rides they&#39;ve ever had,&#34; Milton told me. I recommended that readers &#34;sit this fun ride out.&#34; Shares are down 99%. Milton was sentenced late last year to four years in prison for securities and wire fraud.</p><p>In May of last year, Hindenburg issued a report arguing that the unit price of publicly traded Icahn Enterprises was &#34;inflated by 75%.&#34; It&#39;s down 74%.</p><p>Hindenburg&#39;s latest turd blossom, dated this past Tuesday, alleges that it has found &#34;glaring accounting red flags&#34; at Super Micro, including &#34;evidence of undisclosed related-party transactions.&#34; Super Micro hasn&#39;t commented, but said in a Wednesday filing that it will delay its annual report to assess &#34;the design and operating effectiveness of its internal controls over financial reporting.&#34; Shares have collapsed from a high of over $1,200 in March to a recent $440.</p><p>Let&#39;s put aside the merits of Hindenburg&#39;s specific claims and check in with a guy who turned bearish on Super Micro long before the short attack, to look for clues on avoiding other stock blowups. Mehdi Hosseini at Susquehanna Financial Group studied electrical engineering and designed chips for National Semiconductor, now part of Texas Instruments, before becoming a stock analyst. He has been following Super Micro since 2013, and says his Sell call late last year was early, but also that the company hasn&#39;t been trading on fundamentals. &#34;This is a meme stock,&#34; he says.</p><p>Super Micro says it &#34;delivers the broadest selection of AI systems and solutions,&#34; which sounds like an ideal fit for the moment. But then, I can claim truthfully, more or less, that in my 20s, I made my own computer. What I really did was assemble one using plug-and-play parts recommended on some website for cash-strapped nerds. The job took 45 minutes and a screwdriver.</p><p>I&#39;m not saying that I know as much as Super Micro. I&#39;m saying that Nvidia knows a heck of a lot more, and it&#39;s not really a subjective matter. It&#39;s a matter of using research-and-development spending as a proxy for smarts. Preliminary results for Super Micro&#39;s latest fiscal year show R&amp;D of $348 million, or 2% of revenue, versus Nvidia&#39;s more than $6 billion, or 10% of revenue. These two companies don&#39;t bring nearly the same thing to the AI arms race.</p><p>Super Micro makes computer systems using its own brand of boxes with key innards from other manufacturers. A partnership with Nvidia made it an AI stock darling. But most of the innovation occurs &#34;upstream,&#34; with Nvidia and its chip-making partner Taiwan Semiconductor, says Hosseini. &#34;Super Micro doesn&#39;t really do the innovation,&#34; he says. &#34;They are a contract manufacturer with willingness to commit working capital.&#34; In other words, Super Micro pays upfront for memory, storage, cases, screws, and whatever else is needed for a partner like Nvidia to sell more high-value chips. It&#39;s a relatively weak hand that limits pricing power. It&#39;s also expensive during periods of extreme growth.</p><p>In Super Micro&#39;s latest fiscal year, its revenue doubled to $14.9 billion, judging by preliminary, not official, really-don&#39;t-rely-too-heavily-on-these-yet results. Earnings were seemingly robust, at $1.34 billion. But free cash flow was negative by $2.6 billion. &#34;Would It Take Another $2B+ of FCF Burn to Double Rev Again?!&#34; asked Hosseini in the title of an Aug. 7 investor note. Super Micro raised funds this year by issuing convertible bonds and shares, and might have to raise more, he wrote.</p><p>Earnings and free cash flow are meant to measure roughly the same thing over time. It&#39;s just that earnings pretend that the timing of revenue matches up neatly with the timing of associated costs, to make it easy for stock investors to compare the two. With free cash flow, there&#39;s no pretending. Nearly 30 years ago, a landmark accounting study found that companies with high &#34;accruals&#34; -- think high earnings and low free cash flow -- go on to produce poor stock returns, on average. More recent studies suggest this &#34;accrual anomaly&#34; has weakened, perhaps because it has been traded away by hedge funds exploiting it.</p><p>But free cash flow is still a useful check on earnings. Maybe a frequent cash burner is making a daredevil bet on growth that will pay off marvelously, as it did for Netflix. But maybe not.</p><p>If the Super Micro selloff tempts, Hosseini says to set aside the accusations and judge matters, for now, by what is known. The company was delisted by Nasdaq in 2018 for delayed financial reporting, and restated results the following year. Some executives from then have been rehired. The founder is both chief executive and chairman, limiting board independence.</p><p>Also, &#34;customers may abandon this partner because of these irregularities,&#34; Hosseini says. In other words, Hindenburg could be a disaster for revenue no matter what we learn about its claims.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","LU1282649810.SGD":"Allianz Asian Multi Income Plus Cl AMg DIS H2-SGD","IE00BDRTCR15.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC A","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","SMCI":"超微电脑","BK4587":"ChatGPT概念","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","LU1623119135.USD":"Natixis Mirova Global Sustainable Equity R-NPF/A USD","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","BK4550":"红杉资本持仓","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","LU0541501648.USD":"ALLSPRING  EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU1712237335.SGD":"Natixis Mirova Global Sustainable Equity H-R-NPF/A SGD","LU0823421333.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","BK4527":"明星科技股","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH  \"AG\" (USD) ACC","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU0823421416.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) INC","BK4588":"碎股","LU0109392836.USD":"富兰克林科技股A","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","BK4551":"寇图资本持仓","BK4579":"人工智能","BK4554":"元宇宙及AR概念","BK4149":"建筑机械与重型卡车","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","BK4555":"新能源车","BK4141":"半导体产品","BK4512":"苹果概念","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","BK4170":"电脑硬件、储存设备及电脑周边","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","BK4529":"IDC概念","LU1861215975.USD":"贝莱德新一代科技基金 A2","BK4585":"ETF&股票定投概念","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2463220010","content_text":"In 1937, seven million cubic feet of contained hydrogen ignited over Manchester Township, N.J., bringing down a German airship the size of a football field in half a minute as nearby movie cameras whirred. \"This is the worst thing I've ever witnessed,\" said one broadcaster.The vessel's name, Hindenburg, never caught on as a popular brand, as you might imagine. There's no Hindenburg peanut butter or antacid tablets. You surely wouldn't want the name for an investment business. Unless you're a short seller. This unusual breed bets against stocks, and then publishes reports convincing others that those stocks are unrelenting disasters. A short seller would object to naming his firm for the Titanic on the grounds that there were 706 survivors.And so it is that there's a short seller called Hindenburg Research that has gone after an artificial-intelligence highflier called Super Micro Computer. It isn't super for Super, because apart from Hindenburg's name, there's its record. Four years ago in this column, I reported on my conversation with Trevor Milton, founder of clean energy big-rig start-up Nikola, which was pushing back against a searing Hindenburg report. Investors who bought shares would have \"one of the funnest rides they've ever had,\" Milton told me. I recommended that readers \"sit this fun ride out.\" Shares are down 99%. Milton was sentenced late last year to four years in prison for securities and wire fraud.In May of last year, Hindenburg issued a report arguing that the unit price of publicly traded Icahn Enterprises was \"inflated by 75%.\" It's down 74%.Hindenburg's latest turd blossom, dated this past Tuesday, alleges that it has found \"glaring accounting red flags\" at Super Micro, including \"evidence of undisclosed related-party transactions.\" Super Micro hasn't commented, but said in a Wednesday filing that it will delay its annual report to assess \"the design and operating effectiveness of its internal controls over financial reporting.\" Shares have collapsed from a high of over $1,200 in March to a recent $440.Let's put aside the merits of Hindenburg's specific claims and check in with a guy who turned bearish on Super Micro long before the short attack, to look for clues on avoiding other stock blowups. Mehdi Hosseini at Susquehanna Financial Group studied electrical engineering and designed chips for National Semiconductor, now part of Texas Instruments, before becoming a stock analyst. He has been following Super Micro since 2013, and says his Sell call late last year was early, but also that the company hasn't been trading on fundamentals. \"This is a meme stock,\" he says.Super Micro says it \"delivers the broadest selection of AI systems and solutions,\" which sounds like an ideal fit for the moment. But then, I can claim truthfully, more or less, that in my 20s, I made my own computer. What I really did was assemble one using plug-and-play parts recommended on some website for cash-strapped nerds. The job took 45 minutes and a screwdriver.I'm not saying that I know as much as Super Micro. I'm saying that Nvidia knows a heck of a lot more, and it's not really a subjective matter. It's a matter of using research-and-development spending as a proxy for smarts. Preliminary results for Super Micro's latest fiscal year show R&D of $348 million, or 2% of revenue, versus Nvidia's more than $6 billion, or 10% of revenue. These two companies don't bring nearly the same thing to the AI arms race.Super Micro makes computer systems using its own brand of boxes with key innards from other manufacturers. A partnership with Nvidia made it an AI stock darling. But most of the innovation occurs \"upstream,\" with Nvidia and its chip-making partner Taiwan Semiconductor, says Hosseini. \"Super Micro doesn't really do the innovation,\" he says. \"They are a contract manufacturer with willingness to commit working capital.\" In other words, Super Micro pays upfront for memory, storage, cases, screws, and whatever else is needed for a partner like Nvidia to sell more high-value chips. It's a relatively weak hand that limits pricing power. It's also expensive during periods of extreme growth.In Super Micro's latest fiscal year, its revenue doubled to $14.9 billion, judging by preliminary, not official, really-don't-rely-too-heavily-on-these-yet results. Earnings were seemingly robust, at $1.34 billion. But free cash flow was negative by $2.6 billion. \"Would It Take Another $2B+ of FCF Burn to Double Rev Again?!\" asked Hosseini in the title of an Aug. 7 investor note. Super Micro raised funds this year by issuing convertible bonds and shares, and might have to raise more, he wrote.Earnings and free cash flow are meant to measure roughly the same thing over time. It's just that earnings pretend that the timing of revenue matches up neatly with the timing of associated costs, to make it easy for stock investors to compare the two. With free cash flow, there's no pretending. Nearly 30 years ago, a landmark accounting study found that companies with high \"accruals\" -- think high earnings and low free cash flow -- go on to produce poor stock returns, on average. More recent studies suggest this \"accrual anomaly\" has weakened, perhaps because it has been traded away by hedge funds exploiting it.But free cash flow is still a useful check on earnings. Maybe a frequent cash burner is making a daredevil bet on growth that will pay off marvelously, as it did for Netflix. But maybe not.If the Super Micro selloff tempts, Hosseini says to set aside the accusations and judge matters, for now, by what is known. The company was delisted by Nasdaq in 2018 for delayed financial reporting, and restated results the following year. Some executives from then have been rehired. The founder is both chief executive and chairman, limiting board independence.Also, \"customers may abandon this partner because of these irregularities,\" Hosseini says. In other words, Hindenburg could be a disaster for revenue no matter what we learn about its claims.","news_type":1,"symbols_score_info":{"SMCI":1.1}},"isVote":1,"tweetType":1,"viewCount":1974,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191091375,"gmtCreate":1620826463497,"gmtModify":1704348967695,"author":{"id":"3569886767172741","authorId":"3569886767172741","name":"Chowk","avatar":"https://static.tigerbbs.com/6c72777d6131b28b334b963505ff00de","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569886767172741","idStr":"3569886767172741"},"themes":[],"htmlText":"HK market led the wah ?‍♂️","listText":"HK market led the wah ?‍♂️","text":"HK market led the wah ?‍♂️","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191091375","repostId":"1109603661","repostType":4,"isVote":1,"tweetType":1,"viewCount":1611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109085356,"gmtCreate":1619654889475,"gmtModify":1704727393475,"author":{"id":"3569886767172741","authorId":"3569886767172741","name":"Chowk","avatar":"https://static.tigerbbs.com/6c72777d6131b28b334b963505ff00de","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569886767172741","idStr":"3569886767172741"},"themes":[],"htmlText":"Blowout earnings but share price does not reflect. What happen ?&nbsp;","listText":"Blowout earnings but share price does not reflect. What happen ?&nbsp;","text":"Blowout earnings but share price does not reflect. What happen ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/109085356","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=en_US&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,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1925,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320712157,"gmtCreate":1615176732279,"gmtModify":1704779140903,"author":{"id":"3569886767172741","authorId":"3569886767172741","name":"Chowk","avatar":"https://static.tigerbbs.com/6c72777d6131b28b334b963505ff00de","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569886767172741","idStr":"3569886767172741"},"themes":[],"htmlText":"Bad news for delivery companies","listText":"Bad news for delivery companies","text":"Bad news for delivery companies","images":[{"img":"https://static.tigerbbs.com/037dac4f95dc572e591b2007ef67f60e","width":"1125","height":"1308"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/320712157","isVote":1,"tweetType":1,"viewCount":1547,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":109085356,"gmtCreate":1619654889475,"gmtModify":1704727393475,"author":{"id":"3569886767172741","authorId":"3569886767172741","name":"Chowk","avatar":"https://static.tigerbbs.com/6c72777d6131b28b334b963505ff00de","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569886767172741","idStr":"3569886767172741"},"themes":[],"htmlText":"Blowout earnings but share price does not reflect. What happen ?&nbsp;","listText":"Blowout earnings but share price does not reflect. What happen ?&nbsp;","text":"Blowout earnings but share price does not reflect. What happen ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/109085356","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=en_US&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,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1925,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191091375,"gmtCreate":1620826463497,"gmtModify":1704348967695,"author":{"id":"3569886767172741","authorId":"3569886767172741","name":"Chowk","avatar":"https://static.tigerbbs.com/6c72777d6131b28b334b963505ff00de","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569886767172741","idStr":"3569886767172741"},"themes":[],"htmlText":"HK market led the wah ?‍♂️","listText":"HK market led the wah ?‍♂️","text":"HK market led the wah ?‍♂️","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191091375","repostId":"1109603661","repostType":4,"isVote":1,"tweetType":1,"viewCount":1611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":482798116483336,"gmtCreate":1758901037230,"gmtModify":1758902073007,"author":{"id":"3569886767172741","authorId":"3569886767172741","name":"Chowk","avatar":"https://static.tigerbbs.com/6c72777d6131b28b334b963505ff00de","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569886767172741","idStr":"3569886767172741"},"themes":[],"htmlText":"Yes I think valuations are too high! Pullback is normal as investors take profit. Will this be a long pull or just a breather ? That is the million dollar question. S&amp;P is just off at all time high.&nbsp; I believe it's buoyed by the AI run from Nvidia to Oracle to Palantir. How long will the AI run go on? Tesla is coming off a big bear run and buoyed by renewed good news on the car delivery front. Or did the make up with Trump have anything to do with it ? Perhaps new products from Tesla will push it higher. How&nbsp;what about the rest? Has AI run its course like the Internet boom that crashed spectacularly in 2000/01? Looking at big tech it's more software driven now than the hardware run in 2000. Once the prized possession like Gpu/cpu become mainstream or easily attainable that wi","listText":"Yes I think valuations are too high! Pullback is normal as investors take profit. Will this be a long pull or just a breather ? That is the million dollar question. S&amp;P is just off at all time high.&nbsp; I believe it's buoyed by the AI run from Nvidia to Oracle to Palantir. How long will the AI run go on? Tesla is coming off a big bear run and buoyed by renewed good news on the car delivery front. Or did the make up with Trump have anything to do with it ? Perhaps new products from Tesla will push it higher. How&nbsp;what about the rest? Has AI run its course like the Internet boom that crashed spectacularly in 2000/01? Looking at big tech it's more software driven now than the hardware run in 2000. Once the prized possession like Gpu/cpu become mainstream or easily attainable that wi","text":"Yes I think valuations are too high! Pullback is normal as investors take profit. Will this be a long pull or just a breather ? That is the million dollar question. S&P is just off at all time high. I believe it's buoyed by the AI run from Nvidia to Oracle to Palantir. How long will the AI run go on? Tesla is coming off a big bear run and buoyed by renewed good news on the car delivery front. Or did the make up with Trump have anything to do with it ? Perhaps new products from Tesla will push it higher. How what about the rest? Has AI run its course like the Internet boom that crashed spectacularly in 2000/01? Looking at big tech it's more software driven now than the hardware run in 2000. Once the prized possession like Gpu/cpu become mainstream or easily attainable that wi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/482798116483336","isVote":1,"tweetType":1,"viewCount":729,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":367900621189480,"gmtCreate":1730860056247,"gmtModify":1730863468729,"author":{"id":"3569886767172741","authorId":"3569886767172741","name":"Chowk","avatar":"https://static.tigerbbs.com/6c72777d6131b28b334b963505ff00de","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569886767172741","idStr":"3569886767172741"},"themes":[],"htmlText":"Trump gonna win again. MAGA rolls on!","listText":"Trump gonna win again. MAGA rolls on!","text":"Trump gonna win again. MAGA rolls on!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/367900621189480","isVote":1,"tweetType":1,"viewCount":2284,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344099806151048,"gmtCreate":1725033287985,"gmtModify":1725033328915,"author":{"id":"3569886767172741","authorId":"3569886767172741","name":"Chowk","avatar":"https://static.tigerbbs.com/6c72777d6131b28b334b963505ff00de","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569886767172741","idStr":"3569886767172741"},"themes":[],"htmlText":"Has Hindenburg been wrong before &amp; what's their source of these numbers?&nbsp;","listText":"Has Hindenburg been wrong before &amp; what's their source of these numbers?&nbsp;","text":"Has Hindenburg been wrong before & what's their source of these numbers?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/344099806151048","repostId":"2463220010","repostType":2,"repost":{"id":"2463220010","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":1724996051,"share":"https://ttm.financial/m/news/2463220010?lang=en_US&edition=fundamental","pubTime":"2024-08-30 13:34","market":"hk","language":"en","title":"A Short-Seller Tanks Super Micro Stock. The AI Highflier Has Bigger Problems","url":"https://stock-news.laohu8.com/highlight/detail?id=2463220010","media":"Dow Jones","summary":"In 1937, seven million cubic feet of contained hydrogen ignited over Manchester Township, N.J., bringing down a German airship the size of a football field in half a minute as nearby movie cameras whirred. \"This is the worst thing I've ever witnessed,\" said one broadcaster.The vessel's name, Hindenburg, never caught on as a popular brand, as you might imagine. There's no Hindenburg peanut butter or antacid tablets. You surely wouldn't want the name for an investment business. Unless you're a short seller. This unusual breed bets against stocks, and then publishes reports convincing others that those stocks are unrelenting disasters. A short seller would object to naming his firm for the Titanic on the grounds that there were 706 survivors.Super Micro says it \"delivers the broadest selection of AI systems and solutions,\" which sounds like an ideal fit for the moment. But then, I can claim truthfully, more or less, that in my 20s, I made my own computer. What I really did was assemble on","content":"<html><head></head><body><p>In 1937, seven million cubic feet of contained hydrogen ignited over Manchester Township, N.J., bringing down a German airship the size of a football field in half a minute as nearby movie cameras whirred. &#34;This is the worst thing I&#39;ve ever witnessed,&#34; said one broadcaster.</p><p>The vessel&#39;s name, Hindenburg, never caught on as a popular brand, as you might imagine. There&#39;s no Hindenburg peanut butter or antacid tablets. You surely wouldn&#39;t want the name for an investment business. Unless you&#39;re a short seller. This unusual breed bets against stocks, and then publishes reports convincing others that those stocks are unrelenting disasters. A short seller would object to naming his firm for the Titanic on the grounds that there were 706 survivors.</p><p>And so it is that there&#39;s a short seller called Hindenburg Research that has gone after an artificial-intelligence highflier called Super Micro Computer. It isn&#39;t super for Super, because apart from Hindenburg&#39;s name, there&#39;s its record. Four years ago in this column, I reported on my conversation with Trevor Milton, founder of clean energy big-rig start-up Nikola, which was pushing back against a searing Hindenburg report. Investors who bought shares would have &#34;one of the funnest rides they&#39;ve ever had,&#34; Milton told me. I recommended that readers &#34;sit this fun ride out.&#34; Shares are down 99%. Milton was sentenced late last year to four years in prison for securities and wire fraud.</p><p>In May of last year, Hindenburg issued a report arguing that the unit price of publicly traded Icahn Enterprises was &#34;inflated by 75%.&#34; It&#39;s down 74%.</p><p>Hindenburg&#39;s latest turd blossom, dated this past Tuesday, alleges that it has found &#34;glaring accounting red flags&#34; at Super Micro, including &#34;evidence of undisclosed related-party transactions.&#34; Super Micro hasn&#39;t commented, but said in a Wednesday filing that it will delay its annual report to assess &#34;the design and operating effectiveness of its internal controls over financial reporting.&#34; Shares have collapsed from a high of over $1,200 in March to a recent $440.</p><p>Let&#39;s put aside the merits of Hindenburg&#39;s specific claims and check in with a guy who turned bearish on Super Micro long before the short attack, to look for clues on avoiding other stock blowups. Mehdi Hosseini at Susquehanna Financial Group studied electrical engineering and designed chips for National Semiconductor, now part of Texas Instruments, before becoming a stock analyst. He has been following Super Micro since 2013, and says his Sell call late last year was early, but also that the company hasn&#39;t been trading on fundamentals. &#34;This is a meme stock,&#34; he says.</p><p>Super Micro says it &#34;delivers the broadest selection of AI systems and solutions,&#34; which sounds like an ideal fit for the moment. But then, I can claim truthfully, more or less, that in my 20s, I made my own computer. What I really did was assemble one using plug-and-play parts recommended on some website for cash-strapped nerds. The job took 45 minutes and a screwdriver.</p><p>I&#39;m not saying that I know as much as Super Micro. I&#39;m saying that Nvidia knows a heck of a lot more, and it&#39;s not really a subjective matter. It&#39;s a matter of using research-and-development spending as a proxy for smarts. Preliminary results for Super Micro&#39;s latest fiscal year show R&amp;D of $348 million, or 2% of revenue, versus Nvidia&#39;s more than $6 billion, or 10% of revenue. These two companies don&#39;t bring nearly the same thing to the AI arms race.</p><p>Super Micro makes computer systems using its own brand of boxes with key innards from other manufacturers. A partnership with Nvidia made it an AI stock darling. But most of the innovation occurs &#34;upstream,&#34; with Nvidia and its chip-making partner Taiwan Semiconductor, says Hosseini. &#34;Super Micro doesn&#39;t really do the innovation,&#34; he says. &#34;They are a contract manufacturer with willingness to commit working capital.&#34; In other words, Super Micro pays upfront for memory, storage, cases, screws, and whatever else is needed for a partner like Nvidia to sell more high-value chips. It&#39;s a relatively weak hand that limits pricing power. It&#39;s also expensive during periods of extreme growth.</p><p>In Super Micro&#39;s latest fiscal year, its revenue doubled to $14.9 billion, judging by preliminary, not official, really-don&#39;t-rely-too-heavily-on-these-yet results. Earnings were seemingly robust, at $1.34 billion. But free cash flow was negative by $2.6 billion. &#34;Would It Take Another $2B+ of FCF Burn to Double Rev Again?!&#34; asked Hosseini in the title of an Aug. 7 investor note. Super Micro raised funds this year by issuing convertible bonds and shares, and might have to raise more, he wrote.</p><p>Earnings and free cash flow are meant to measure roughly the same thing over time. It&#39;s just that earnings pretend that the timing of revenue matches up neatly with the timing of associated costs, to make it easy for stock investors to compare the two. With free cash flow, there&#39;s no pretending. Nearly 30 years ago, a landmark accounting study found that companies with high &#34;accruals&#34; -- think high earnings and low free cash flow -- go on to produce poor stock returns, on average. More recent studies suggest this &#34;accrual anomaly&#34; has weakened, perhaps because it has been traded away by hedge funds exploiting it.</p><p>But free cash flow is still a useful check on earnings. Maybe a frequent cash burner is making a daredevil bet on growth that will pay off marvelously, as it did for Netflix. But maybe not.</p><p>If the Super Micro selloff tempts, Hosseini says to set aside the accusations and judge matters, for now, by what is known. The company was delisted by Nasdaq in 2018 for delayed financial reporting, and restated results the following year. Some executives from then have been rehired. The founder is both chief executive and chairman, limiting board independence.</p><p>Also, &#34;customers may abandon this partner because of these irregularities,&#34; Hosseini says. In other words, Hindenburg could be a disaster for revenue no matter what we learn about its claims.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>A Short-Seller Tanks Super Micro Stock. The AI Highflier Has Bigger Problems</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\">\nA Short-Seller Tanks Super Micro Stock. The AI Highflier Has Bigger Problems\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-08-30 13:34</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>In 1937, seven million cubic feet of contained hydrogen ignited over Manchester Township, N.J., bringing down a German airship the size of a football field in half a minute as nearby movie cameras whirred. &#34;This is the worst thing I&#39;ve ever witnessed,&#34; said one broadcaster.</p><p>The vessel&#39;s name, Hindenburg, never caught on as a popular brand, as you might imagine. There&#39;s no Hindenburg peanut butter or antacid tablets. You surely wouldn&#39;t want the name for an investment business. Unless you&#39;re a short seller. This unusual breed bets against stocks, and then publishes reports convincing others that those stocks are unrelenting disasters. A short seller would object to naming his firm for the Titanic on the grounds that there were 706 survivors.</p><p>And so it is that there&#39;s a short seller called Hindenburg Research that has gone after an artificial-intelligence highflier called Super Micro Computer. It isn&#39;t super for Super, because apart from Hindenburg&#39;s name, there&#39;s its record. Four years ago in this column, I reported on my conversation with Trevor Milton, founder of clean energy big-rig start-up Nikola, which was pushing back against a searing Hindenburg report. Investors who bought shares would have &#34;one of the funnest rides they&#39;ve ever had,&#34; Milton told me. I recommended that readers &#34;sit this fun ride out.&#34; Shares are down 99%. Milton was sentenced late last year to four years in prison for securities and wire fraud.</p><p>In May of last year, Hindenburg issued a report arguing that the unit price of publicly traded Icahn Enterprises was &#34;inflated by 75%.&#34; It&#39;s down 74%.</p><p>Hindenburg&#39;s latest turd blossom, dated this past Tuesday, alleges that it has found &#34;glaring accounting red flags&#34; at Super Micro, including &#34;evidence of undisclosed related-party transactions.&#34; Super Micro hasn&#39;t commented, but said in a Wednesday filing that it will delay its annual report to assess &#34;the design and operating effectiveness of its internal controls over financial reporting.&#34; Shares have collapsed from a high of over $1,200 in March to a recent $440.</p><p>Let&#39;s put aside the merits of Hindenburg&#39;s specific claims and check in with a guy who turned bearish on Super Micro long before the short attack, to look for clues on avoiding other stock blowups. Mehdi Hosseini at Susquehanna Financial Group studied electrical engineering and designed chips for National Semiconductor, now part of Texas Instruments, before becoming a stock analyst. He has been following Super Micro since 2013, and says his Sell call late last year was early, but also that the company hasn&#39;t been trading on fundamentals. &#34;This is a meme stock,&#34; he says.</p><p>Super Micro says it &#34;delivers the broadest selection of AI systems and solutions,&#34; which sounds like an ideal fit for the moment. But then, I can claim truthfully, more or less, that in my 20s, I made my own computer. What I really did was assemble one using plug-and-play parts recommended on some website for cash-strapped nerds. The job took 45 minutes and a screwdriver.</p><p>I&#39;m not saying that I know as much as Super Micro. I&#39;m saying that Nvidia knows a heck of a lot more, and it&#39;s not really a subjective matter. It&#39;s a matter of using research-and-development spending as a proxy for smarts. Preliminary results for Super Micro&#39;s latest fiscal year show R&amp;D of $348 million, or 2% of revenue, versus Nvidia&#39;s more than $6 billion, or 10% of revenue. These two companies don&#39;t bring nearly the same thing to the AI arms race.</p><p>Super Micro makes computer systems using its own brand of boxes with key innards from other manufacturers. A partnership with Nvidia made it an AI stock darling. But most of the innovation occurs &#34;upstream,&#34; with Nvidia and its chip-making partner Taiwan Semiconductor, says Hosseini. &#34;Super Micro doesn&#39;t really do the innovation,&#34; he says. &#34;They are a contract manufacturer with willingness to commit working capital.&#34; In other words, Super Micro pays upfront for memory, storage, cases, screws, and whatever else is needed for a partner like Nvidia to sell more high-value chips. It&#39;s a relatively weak hand that limits pricing power. It&#39;s also expensive during periods of extreme growth.</p><p>In Super Micro&#39;s latest fiscal year, its revenue doubled to $14.9 billion, judging by preliminary, not official, really-don&#39;t-rely-too-heavily-on-these-yet results. Earnings were seemingly robust, at $1.34 billion. But free cash flow was negative by $2.6 billion. &#34;Would It Take Another $2B+ of FCF Burn to Double Rev Again?!&#34; asked Hosseini in the title of an Aug. 7 investor note. Super Micro raised funds this year by issuing convertible bonds and shares, and might have to raise more, he wrote.</p><p>Earnings and free cash flow are meant to measure roughly the same thing over time. It&#39;s just that earnings pretend that the timing of revenue matches up neatly with the timing of associated costs, to make it easy for stock investors to compare the two. With free cash flow, there&#39;s no pretending. Nearly 30 years ago, a landmark accounting study found that companies with high &#34;accruals&#34; -- think high earnings and low free cash flow -- go on to produce poor stock returns, on average. More recent studies suggest this &#34;accrual anomaly&#34; has weakened, perhaps because it has been traded away by hedge funds exploiting it.</p><p>But free cash flow is still a useful check on earnings. Maybe a frequent cash burner is making a daredevil bet on growth that will pay off marvelously, as it did for Netflix. But maybe not.</p><p>If the Super Micro selloff tempts, Hosseini says to set aside the accusations and judge matters, for now, by what is known. The company was delisted by Nasdaq in 2018 for delayed financial reporting, and restated results the following year. Some executives from then have been rehired. The founder is both chief executive and chairman, limiting board independence.</p><p>Also, &#34;customers may abandon this partner because of these irregularities,&#34; Hosseini says. In other words, Hindenburg could be a disaster for revenue no matter what we learn about its claims.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","LU1282649810.SGD":"Allianz Asian Multi Income Plus Cl AMg DIS H2-SGD","IE00BDRTCR15.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC A","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","SMCI":"超微电脑","BK4587":"ChatGPT概念","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","LU1623119135.USD":"Natixis Mirova Global Sustainable Equity R-NPF/A USD","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","BK4550":"红杉资本持仓","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","LU0541501648.USD":"ALLSPRING  EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU1712237335.SGD":"Natixis Mirova Global Sustainable Equity H-R-NPF/A SGD","LU0823421333.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","BK4527":"明星科技股","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH  \"AG\" (USD) ACC","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU0823421416.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) INC","BK4588":"碎股","LU0109392836.USD":"富兰克林科技股A","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","BK4551":"寇图资本持仓","BK4579":"人工智能","BK4554":"元宇宙及AR概念","BK4149":"建筑机械与重型卡车","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","BK4555":"新能源车","BK4141":"半导体产品","BK4512":"苹果概念","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","BK4170":"电脑硬件、储存设备及电脑周边","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","BK4529":"IDC概念","LU1861215975.USD":"贝莱德新一代科技基金 A2","BK4585":"ETF&股票定投概念","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2463220010","content_text":"In 1937, seven million cubic feet of contained hydrogen ignited over Manchester Township, N.J., bringing down a German airship the size of a football field in half a minute as nearby movie cameras whirred. \"This is the worst thing I've ever witnessed,\" said one broadcaster.The vessel's name, Hindenburg, never caught on as a popular brand, as you might imagine. There's no Hindenburg peanut butter or antacid tablets. You surely wouldn't want the name for an investment business. Unless you're a short seller. This unusual breed bets against stocks, and then publishes reports convincing others that those stocks are unrelenting disasters. A short seller would object to naming his firm for the Titanic on the grounds that there were 706 survivors.And so it is that there's a short seller called Hindenburg Research that has gone after an artificial-intelligence highflier called Super Micro Computer. It isn't super for Super, because apart from Hindenburg's name, there's its record. Four years ago in this column, I reported on my conversation with Trevor Milton, founder of clean energy big-rig start-up Nikola, which was pushing back against a searing Hindenburg report. Investors who bought shares would have \"one of the funnest rides they've ever had,\" Milton told me. I recommended that readers \"sit this fun ride out.\" Shares are down 99%. Milton was sentenced late last year to four years in prison for securities and wire fraud.In May of last year, Hindenburg issued a report arguing that the unit price of publicly traded Icahn Enterprises was \"inflated by 75%.\" It's down 74%.Hindenburg's latest turd blossom, dated this past Tuesday, alleges that it has found \"glaring accounting red flags\" at Super Micro, including \"evidence of undisclosed related-party transactions.\" Super Micro hasn't commented, but said in a Wednesday filing that it will delay its annual report to assess \"the design and operating effectiveness of its internal controls over financial reporting.\" Shares have collapsed from a high of over $1,200 in March to a recent $440.Let's put aside the merits of Hindenburg's specific claims and check in with a guy who turned bearish on Super Micro long before the short attack, to look for clues on avoiding other stock blowups. Mehdi Hosseini at Susquehanna Financial Group studied electrical engineering and designed chips for National Semiconductor, now part of Texas Instruments, before becoming a stock analyst. He has been following Super Micro since 2013, and says his Sell call late last year was early, but also that the company hasn't been trading on fundamentals. \"This is a meme stock,\" he says.Super Micro says it \"delivers the broadest selection of AI systems and solutions,\" which sounds like an ideal fit for the moment. But then, I can claim truthfully, more or less, that in my 20s, I made my own computer. What I really did was assemble one using plug-and-play parts recommended on some website for cash-strapped nerds. The job took 45 minutes and a screwdriver.I'm not saying that I know as much as Super Micro. I'm saying that Nvidia knows a heck of a lot more, and it's not really a subjective matter. It's a matter of using research-and-development spending as a proxy for smarts. Preliminary results for Super Micro's latest fiscal year show R&D of $348 million, or 2% of revenue, versus Nvidia's more than $6 billion, or 10% of revenue. These two companies don't bring nearly the same thing to the AI arms race.Super Micro makes computer systems using its own brand of boxes with key innards from other manufacturers. A partnership with Nvidia made it an AI stock darling. But most of the innovation occurs \"upstream,\" with Nvidia and its chip-making partner Taiwan Semiconductor, says Hosseini. \"Super Micro doesn't really do the innovation,\" he says. \"They are a contract manufacturer with willingness to commit working capital.\" In other words, Super Micro pays upfront for memory, storage, cases, screws, and whatever else is needed for a partner like Nvidia to sell more high-value chips. It's a relatively weak hand that limits pricing power. It's also expensive during periods of extreme growth.In Super Micro's latest fiscal year, its revenue doubled to $14.9 billion, judging by preliminary, not official, really-don't-rely-too-heavily-on-these-yet results. Earnings were seemingly robust, at $1.34 billion. But free cash flow was negative by $2.6 billion. \"Would It Take Another $2B+ of FCF Burn to Double Rev Again?!\" asked Hosseini in the title of an Aug. 7 investor note. Super Micro raised funds this year by issuing convertible bonds and shares, and might have to raise more, he wrote.Earnings and free cash flow are meant to measure roughly the same thing over time. It's just that earnings pretend that the timing of revenue matches up neatly with the timing of associated costs, to make it easy for stock investors to compare the two. With free cash flow, there's no pretending. Nearly 30 years ago, a landmark accounting study found that companies with high \"accruals\" -- think high earnings and low free cash flow -- go on to produce poor stock returns, on average. More recent studies suggest this \"accrual anomaly\" has weakened, perhaps because it has been traded away by hedge funds exploiting it.But free cash flow is still a useful check on earnings. Maybe a frequent cash burner is making a daredevil bet on growth that will pay off marvelously, as it did for Netflix. But maybe not.If the Super Micro selloff tempts, Hosseini says to set aside the accusations and judge matters, for now, by what is known. The company was delisted by Nasdaq in 2018 for delayed financial reporting, and restated results the following year. Some executives from then have been rehired. The founder is both chief executive and chairman, limiting board independence.Also, \"customers may abandon this partner because of these irregularities,\" Hosseini says. In other words, Hindenburg could be a disaster for revenue no matter what we learn about its claims.","news_type":1,"symbols_score_info":{"SMCI":1.1}},"isVote":1,"tweetType":1,"viewCount":1974,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320712157,"gmtCreate":1615176732279,"gmtModify":1704779140903,"author":{"id":"3569886767172741","authorId":"3569886767172741","name":"Chowk","avatar":"https://static.tigerbbs.com/6c72777d6131b28b334b963505ff00de","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569886767172741","idStr":"3569886767172741"},"themes":[],"htmlText":"Bad news for delivery companies","listText":"Bad news for delivery companies","text":"Bad news for delivery companies","images":[{"img":"https://static.tigerbbs.com/037dac4f95dc572e591b2007ef67f60e","width":"1125","height":"1308"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/320712157","isVote":1,"tweetType":1,"viewCount":1547,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}