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Netflix No Longer Fits in FAANG, But Here’s Who Does

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Goldman Sachs says disruptions from the chip shortage should diminish in the second half of 2021

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11:29","market":"us","language":"en","title":"Netflix No Longer Fits in FAANG, But Here’s Who Does","url":"https://stock-news.laohu8.com/highlight/detail?id=1132295574","media":"The Street","summary":"With Netflix’s dominance being challenged, it may be time to replace the FAANG stocks acronym in fav","content":"<blockquote><b>With Netflix’s dominance being challenged, it may be time to replace the FAANG stocks acronym in favor of FANGMAN.</b></blockquote><p>Nearly a decade ago, TheStreet’s founderJim Cramercoined the acronym FANG, later updated to FAANG, for companies supremely dominant in their respective markets and their stocks’ resulting proclivity for outperformance.</p><p>For the nascent streaming industry, Netflix’s&nbsp;(<b>NFLX</b>) -Get Report&nbsp;position was among the most secure in the shorthand slang for tech titans Facebook&nbsp;(<b>FB</b>) -Get Report&nbsp;in social media, Apple&nbsp;(<b>AAPL</b>) -Get Report&nbsp;in consumer devices, Amazon&nbsp;(<b>AMZN</b>) -Get Report&nbsp;in e-commerce and Alphabet&nbsp;(<b>GOOGL</b>) -Get Report&nbsp;in search.</p><p>However, as more and more players enter the streaming space, perhaps Netflix's dominance and therefore its place in Cramer’s coinage might be more tenuous.</p><p>Indeed, while the Los Gatos, California-based company still leads the pack in terms of subscriber share, the lead is shrinking. Per a recent report from Ampere Analysis, Netflix’s market share was cut by nearly one-third, from 29% to 20% of the total market, as competitors like Disney&nbsp;(<b>DIS</b>) -Get Report&nbsp;have challenged for the streaming crown and seriously damaged the company’s growth story.</p><p>“I think it’s been disconnected from the [rest of the FAANG] group for a while now given its business is extremely different from other members,” Joel Kulina, SVP of Equity Trading at Wedbush Securities said. “It's still a good proxy for large cap growth sentiment but that’s about it.”</p><p><b>Microsoft Moving In?</b></p><p>Given the shortcoming of Netflix in terms of fitting in with the rest of FAANG, debate has been kickstarted over a potential replacement.</p><p>While FAANG was built upon dominance in a particular industry by Cramer, each of the companies that encompass the acronym, save Netflix, have become diversified companies with benefits from multiple industries and strong network effects.</p><p>Apple’s pivot to services has been well-publicized and undergirded its long-term bull thesis; Alphabet has expanded very successfully into video through its acquisition of Youtube and rapidly grown its cloud business while it continues to make many bets in fields as disparate as video games and autonomous vehicles; Facebook has acquired to assert dominance in social media; and Amazon’s cloud dominance has overshadowed its retail beginnings to bolster all of its businesses.</p><p>Through these platforms that branch across numerous industries, each company has been able to benefit from mutualistic business models that cement their status as a dominant tech player. The same cannot be said for Netflix. In order to correct for this glaring dissimilarity, Microsoft&nbsp;(<b>MSFT</b>) -Get Report&nbsp;might be a perfect replacement.</p><p>While the Redmond, Washington-based company has long held a stranglehold on operating systems as its core business, its forays into gaming, advertising and especially cloud computing have taken the company to new heights. In fact, about one-third of the company’s overall revenue is now derived from its cloud business, building upon its longstanding dominance in software.</p><p>Indeed, as CEO Satya Nadella teases a major update to Windows operating systems at the company’s Build 2021 event in late May while signaling an intention to dive deeper than ever into cutting edge technology in cloud, the dominant and well-diversified company is clearly more similar to Facebook, Amazon, Apple and Google than Netflix’s decidedly concentrated business. Like those other companies, Microsoft is dominant in one area of the business while still growing rapidly in others.</p><p>Further, while Cramer did not envision the group as a valuation-based grouping, the staggering gap between Netflix and the rest of its FAANG peers is becoming only more notable. While Netflix sports a still healthy market cap of just over $200 billion, it pales in comparison to the market cap’s of the rest of the grouping, which range from just under $1 trillion in Facebook's case to in excess of $2 trillion for Apple.</p><p>In terms of market-moving ability, this leaves Netflix as somewhat of a laggard and therefore less useful for the grouping’s service as a market indicator.</p><p><b>Addition, Not Subtraction</b></p><p>Still, part of the ubiquity of the FAANG name is not entirely based upon its application to markets. A great degree of credit belongs to the catchiness of the name itself, meaning FAAMG or FAMGA might leave a great deal to be desired in terms of catching on.</p><p>As a result, Wedbush’s Kulina argues that Netflix need not be removed. Instead, he argues for the addition of both Microsoft and his chosen semiconductor stalwart Nvidia&nbsp;(<b>NVDA</b>) -Get Report&nbsp;to result in the catchy FANGMAN.</p><p>“Many have tried to include Microsoft in with others but it doesn’t roll off the tongue as easily,” he commented. “FANGMAN has been one of the better ones I’ve come across, easy to say; includes large cap growth names across various pockets of tech.”</p><p>Certainly Nvidia would also fit in well as its dominance in graphics chips has helped the firm assert a dominant market share in graphics cards, clocking in at a whopping 82% market share per Jon Peddie Research.</p><p>In terms of diversifying, CEO Jensen Huang’s acquisition strategy has helped the firm branch into the automotive industry through high-profile partnerships through its NVIDIA drive network as well as data centers, aided by the acquisition of Mellanox, as well as AI technology through its anticipated takeover of Arm.</p><p>While the semiconductor industry is certainly crowded, Nvidia has managed to set itself apart beyond its firm base in gaming and graphic chip dominance. As such, it might also be a perfect candidate for mention alongside the long-time tech leaders. Also, its market cap is a healthy $400+ billion, adding to its potential to fit with the rest of the group.</p><p>As such, Netflix may not need to be removed from FAANG as it still clings to a lead in streaming amidst the wave of entrants to the industry, but it may need to at least move into a slightly more crowded market mnemonic.</p>","source":"lsy1610613172068","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>Netflix No Longer Fits in FAANG, But Here’s Who Does</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\">\nNetflix No Longer Fits in FAANG, But Here’s Who Does\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-08 11:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/netflix-no-longer-fits-in-faang-heres-who-does><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>With Netflix’s dominance being challenged, it may be time to replace the FAANG stocks acronym in favor of FANGMAN.Nearly a decade ago, TheStreet’s founderJim Cramercoined the acronym FANG, later ...</p>\n\n<a href=\"https://www.thestreet.com/investing/netflix-no-longer-fits-in-faang-heres-who-does\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达","NFLX":"奈飞","MSFT":"微软"},"source_url":"https://www.thestreet.com/investing/netflix-no-longer-fits-in-faang-heres-who-does","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132295574","content_text":"With Netflix’s dominance being challenged, it may be time to replace the FAANG stocks acronym in favor of FANGMAN.Nearly a decade ago, TheStreet’s founderJim Cramercoined the acronym FANG, later updated to FAANG, for companies supremely dominant in their respective markets and their stocks’ resulting proclivity for outperformance.For the nascent streaming industry, Netflix’s (NFLX) -Get Report position was among the most secure in the shorthand slang for tech titans Facebook (FB) -Get Report in social media, Apple (AAPL) -Get Report in consumer devices, Amazon (AMZN) -Get Report in e-commerce and Alphabet (GOOGL) -Get Report in search.However, as more and more players enter the streaming space, perhaps Netflix's dominance and therefore its place in Cramer’s coinage might be more tenuous.Indeed, while the Los Gatos, California-based company still leads the pack in terms of subscriber share, the lead is shrinking. Per a recent report from Ampere Analysis, Netflix’s market share was cut by nearly one-third, from 29% to 20% of the total market, as competitors like Disney (DIS) -Get Report have challenged for the streaming crown and seriously damaged the company’s growth story.“I think it’s been disconnected from the [rest of the FAANG] group for a while now given its business is extremely different from other members,” Joel Kulina, SVP of Equity Trading at Wedbush Securities said. “It's still a good proxy for large cap growth sentiment but that’s about it.”Microsoft Moving In?Given the shortcoming of Netflix in terms of fitting in with the rest of FAANG, debate has been kickstarted over a potential replacement.While FAANG was built upon dominance in a particular industry by Cramer, each of the companies that encompass the acronym, save Netflix, have become diversified companies with benefits from multiple industries and strong network effects.Apple’s pivot to services has been well-publicized and undergirded its long-term bull thesis; Alphabet has expanded very successfully into video through its acquisition of Youtube and rapidly grown its cloud business while it continues to make many bets in fields as disparate as video games and autonomous vehicles; Facebook has acquired to assert dominance in social media; and Amazon’s cloud dominance has overshadowed its retail beginnings to bolster all of its businesses.Through these platforms that branch across numerous industries, each company has been able to benefit from mutualistic business models that cement their status as a dominant tech player. The same cannot be said for Netflix. In order to correct for this glaring dissimilarity, Microsoft (MSFT) -Get Report might be a perfect replacement.While the Redmond, Washington-based company has long held a stranglehold on operating systems as its core business, its forays into gaming, advertising and especially cloud computing have taken the company to new heights. In fact, about one-third of the company’s overall revenue is now derived from its cloud business, building upon its longstanding dominance in software.Indeed, as CEO Satya Nadella teases a major update to Windows operating systems at the company’s Build 2021 event in late May while signaling an intention to dive deeper than ever into cutting edge technology in cloud, the dominant and well-diversified company is clearly more similar to Facebook, Amazon, Apple and Google than Netflix’s decidedly concentrated business. Like those other companies, Microsoft is dominant in one area of the business while still growing rapidly in others.Further, while Cramer did not envision the group as a valuation-based grouping, the staggering gap between Netflix and the rest of its FAANG peers is becoming only more notable. While Netflix sports a still healthy market cap of just over $200 billion, it pales in comparison to the market cap’s of the rest of the grouping, which range from just under $1 trillion in Facebook's case to in excess of $2 trillion for Apple.In terms of market-moving ability, this leaves Netflix as somewhat of a laggard and therefore less useful for the grouping’s service as a market indicator.Addition, Not SubtractionStill, part of the ubiquity of the FAANG name is not entirely based upon its application to markets. A great degree of credit belongs to the catchiness of the name itself, meaning FAAMG or FAMGA might leave a great deal to be desired in terms of catching on.As a result, Wedbush’s Kulina argues that Netflix need not be removed. Instead, he argues for the addition of both Microsoft and his chosen semiconductor stalwart Nvidia (NVDA) -Get Report to result in the catchy FANGMAN.“Many have tried to include Microsoft in with others but it doesn’t roll off the tongue as easily,” he commented. “FANGMAN has been one of the better ones I’ve come across, easy to say; includes large cap growth names across various pockets of tech.”Certainly Nvidia would also fit in well as its dominance in graphics chips has helped the firm assert a dominant market share in graphics cards, clocking in at a whopping 82% market share per Jon Peddie Research.In terms of diversifying, CEO Jensen Huang’s acquisition strategy has helped the firm branch into the automotive industry through high-profile partnerships through its NVIDIA drive network as well as data centers, aided by the acquisition of Mellanox, as well as AI technology through its anticipated takeover of Arm.While the semiconductor industry is certainly crowded, Nvidia has managed to set itself apart beyond its firm base in gaming and graphic chip dominance. As such, it might also be a perfect candidate for mention alongside the long-time tech leaders. Also, its market cap is a healthy $400+ billion, adding to its potential to fit with the rest of the group.As such, Netflix may not need to be removed from FAANG as it still clings to a lead in streaming amidst the wave of entrants to the industry, but it may need to at least move into a slightly more crowded market mnemonic.","news_type":1},"isVote":1,"tweetType":1,"viewCount":304,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117862353,"gmtCreate":1623131038472,"gmtModify":1704196706667,"author":{"id":"3571834371493533","authorId":"3571834371493533","name":"faruxue89","avatar":"https://static.tigerbbs.com/6dc3e6f887dc2dd1ec94565f232b7e61","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3571834371493533","authorIdStr":"3571834371493533"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/117862353","repostId":"1106675153","repostType":4,"repost":{"id":"1106675153","kind":"news","pubTimestamp":1623130452,"share":"https://ttm.financial/m/news/1106675153?lang=&edition=fundamental","pubTime":"2021-06-08 13:34","market":"us","language":"en","title":"Goldman Sachs says disruptions from the chip shortage should diminish in the second half of 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=1106675153","media":"cnbc","summary":"The worst may soon be over when it comes to disruptions stemming from the global chip shortage, acco","content":"<div>\n<p>The worst may soon be over when it comes to disruptions stemming from the global chip shortage, according to Goldman Sachs.Andrew Tilton, chief Asia economist at the bank, said the situation could ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/goldman-disruptions-from-the-chip-shortage-should-improve-soon.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Sachs says disruptions from the chip shortage should diminish in the second half of 2021</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Sachs says disruptions from the chip shortage should diminish in the second half of 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-08 13:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/goldman-disruptions-from-the-chip-shortage-should-improve-soon.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The worst may soon be over when it comes to disruptions stemming from the global chip shortage, according to Goldman Sachs.Andrew Tilton, chief Asia economist at the bank, said the situation could ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/goldman-disruptions-from-the-chip-shortage-should-improve-soon.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSM":"台积电"},"source_url":"https://www.cnbc.com/2021/06/08/goldman-disruptions-from-the-chip-shortage-should-improve-soon.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1106675153","content_text":"The worst may soon be over when it comes to disruptions stemming from the global chip shortage, according to Goldman Sachs.Andrew Tilton, chief Asia economist at the bank, said the situation could improve in the second half of 2021.He said there have been “noticeable tightening” of supply chains and shipment delays in North Asian economies such as Japan, Taiwan and South Korea, which are involved in the semiconductor supply chain.\"That will have an impact on downstream sectors. Auto production is one of those,\" he told CNBC's \"Street Signs Asia\" on Monday.\"Our analysts believe we're probably in the worst period of that right now. That is, we're seeing the biggest disruption downstream (in) industries like auto right now and that will gradually ease over the back half of the year,\" Tilton said.The world has been grappling with a chip shortage that has hitthe production of household electronics, including everything from toasters to washing machines.It is also expected tocost the global auto industry $110 billion in revenue in 2021, according to consulting firm AlixPartners.The firm expects the largest impact to car production to hit in the second quarter, before progressively getting better during the second half of the year and into 2022, Dan Hearsch, a managing director in AlixPartners' automotive and industrial practice, previously told CNBC.Concerns in TaiwanStill, Goldman's Tilton said the situation is worth monitoring, especially if other disruptions in the supply chain emerge.\"There was a lot of concern in Taiwan that droughts or the resurgence of a new Covid outbreak there could result in a significant shortfall in production. So far we haven't seen that,\" he said.There've been a couple of isolated disruptions, but so far, not enough to cause a major disruption to the semi supply chain.Andrew TiltonGOLDMAN SACHS CHIEF ASIA ECONOMISTChip manufacturing plants use huge amounts of water daily, and Taiwan, home to the world's largest contract chipmaker,is facing its worst water shortage in 56 years. On Sunday, the islandlifted some water restrictions after a recent bout of heavy rain, Reuters reported.Taiwan is also dealing with a Covid outbreak that emerged in May after it successfully kept the virus at bay for most of the pandemic.\"There've been a couple of isolated disruptions, but so far, not enough to cause a major disruption to the semi supply chain,\" Tilton said.It remains something that needs to be watched closely in the coming weeks and months, he added.","news_type":1},"isVote":1,"tweetType":1,"viewCount":295,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117862053,"gmtCreate":1623130994972,"gmtModify":1704196706503,"author":{"id":"3571834371493533","authorId":"3571834371493533","name":"faruxue89","avatar":"https://static.tigerbbs.com/6dc3e6f887dc2dd1ec94565f232b7e61","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3571834371493533","authorIdStr":"3571834371493533"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>Lisa zeh zeh","listText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>Lisa zeh zeh","text":"$AMD(AMD)$Lisa zeh zeh","images":[{"img":"https://static.tigerbbs.com/057e9e746f485802d3ec3245c654957c","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/117862053","isVote":1,"tweetType":1,"viewCount":322,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":114838694,"gmtCreate":1623064104918,"gmtModify":1704195285887,"author":{"id":"3571834371493533","authorId":"3571834371493533","name":"faruxue89","avatar":"https://static.tigerbbs.com/6dc3e6f887dc2dd1ec94565f232b7e61","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3571834371493533","authorIdStr":"3571834371493533"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/KOPN\">$Kopin(KOPN)$</a>wwew","listText":"<a href=\"https://laohu8.com/S/KOPN\">$Kopin(KOPN)$</a>wwew","text":"$Kopin(KOPN)$wwew","images":[{"img":"https://static.tigerbbs.com/f7b77f21730dfe983b906fa0d756873d","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/114838694","isVote":1,"tweetType":1,"viewCount":312,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":114831192,"gmtCreate":1623063998016,"gmtModify":1704195284413,"author":{"id":"3571834371493533","authorId":"3571834371493533","name":"faruxue89","avatar":"https://static.tigerbbs.com/6dc3e6f887dc2dd1ec94565f232b7e61","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3571834371493533","authorIdStr":"3571834371493533"},"themes":[],"htmlText":"Let's go KOPN","listText":"Let's go KOPN","text":"Let's go KOPN","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/114831192","isVote":1,"tweetType":1,"viewCount":263,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115364584,"gmtCreate":1622952293048,"gmtModify":1704193706895,"author":{"id":"3571834371493533","authorId":"3571834371493533","name":"faruxue89","avatar":"https://static.tigerbbs.com/6dc3e6f887dc2dd1ec94565f232b7e61","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3571834371493533","authorIdStr":"3571834371493533"},"themes":[],"htmlText":"Let's go","listText":"Let's go","text":"Let's go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/115364584","repostId":"1120164826","repostType":4,"repost":{"id":"1120164826","kind":"news","pubTimestamp":1622951745,"share":"https://ttm.financial/m/news/1120164826?lang=&edition=fundamental","pubTime":"2021-06-06 11:55","market":"us","language":"en","title":"Zillow: Significant Downside Remains","url":"https://stock-news.laohu8.com/highlight/detail?id=1120164826","media":"seekingalpha","summary":"Summary\n\nShares of Zillow Group have come down some 30% since my \"Take Profits\" article was publishe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Shares of Zillow Group have come down some 30% since my \"Take Profits\" article was published on Seeking Alpha.</li>\n <li>However, and despite a definite improvement in the latest Q1 EPS report, the stock looks to have a further downside to come.</li>\n <li>That is because margins are dismal, forward adjusted EBITDA guidance for Q2 was weak (lower than Q1), and the outstanding share count continues to grow.</li>\n <li>Yet, the stock still trades with a forward P/E of nearly 100x.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ba2b4c631e3e6b24aaf024fb49665ea3\" tg-width=\"768\" tg-height=\"512\"><span>Photo by Sundry Photography/iStock Editorial via Getty Images</span></p>\n<p>The&nbsp;<b>Zillow Group</b>&nbsp;(ZG) has, without a doubt, established itself as the #1 online real estate website and as one-stop shop for home-buying consumers. The company's recent pivot to what I'll call the iHome business (purchasing homes directly from consumers and then selling them on the open market) has been a positive catalyst of late in terms of revenue growth, and that business blends well with ZG's Mortgage Segment and Internet, Media, and Technology Segment. However, despite the recent and significant drop in the price of the shares, ZG still seem substantially overvalued in my opinion. That is because margins are - in a word - pathetic. In addition, Q2 guidance was weak and the company plans to hire an additional 2,000 employees this year. In my opinion, that will pressure margins even further through the remainder of the year.</p>\n<p><b>Investment Rationale</b></p>\n<p>Like many Americans, Zillow has become one of my favorite websites. I am surely not alone when it comes to frequently checking Zillow.com to see what the current \"Zestimate\" is for my home as well as for the homes I have owned in the past, and those of my friends and family.</p>\n<p>Indeed, marketing share data from Statista shows that Zillow is #1 in unique monthly visits, and Trulia - which the Zillow Group bought in 2014 - is #2. In aggregate that gives the Zillow group a stranglehold on the real estate website market (at least by the unique visits metric) at more than 3x the share as compared to what was once a highly competitive race with Realtor.com for consumers' eye-balls:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/929acb56fa1d566e5f6c3ac0d250c2c2\" tg-width=\"640\" tg-height=\"553\"><span>Source:Statista</span></p>\n<p>But of course there are other metrics to judge the popularity and use of real estate websites. Here is more recent data (April 1, 2021) from SimilarWeb.com:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/836f372f61ccb570286e9ac3e0f3143b\" tg-width=\"640\" tg-height=\"366\"><span>Source:SimilarWeb.com</span></p>\n<p>When it comes to average visit duration, pages viewed per visit, and bounce rate (the % of consumers that only view one-page then leave the site), Zillow and Trulia again show impressive comps. That said, note there must be other metrics that figure into the SimilarWeb ratings shown above because - from these metrics alone - one could argue rightmove.co.uk has the best stats as shown. Regardless, this graphic is another indicator that the Zillow/Trulia brand is very strong and the market leader.</p>\n<p>However, eye-balls aren't enough ... the views and activity need to be converted into profits, and that is where the Zillow Group is struggling in comparison to its rather lofty valuation.</p>\n<p><b>Q1 Earnings</b></p>\n<p>Zillow released its&nbsp;Q1 EPS report&nbsp;on May 4th. It was a strong report. GAAP net-income of $0.20/share&nbsp;beat estimates by a whopping $0.13. Revenue of $1.22 billion was a $120 million beat and was up 8% yoy. The company reported strong traffic on its website and mobile apps, with 221 million average monthly users (up 15% yoy) driving 2.5 billion visits during Q1 (up 19% yoy).</p>\n<p>The most interesting segment in Q1 was the iHome (or what ZG calls \"Zillow Offers\") because it accounted for ~57% of revenue and is the segment Zillow is counting on to be is profitable growth engine.</p>\n<p>However, as can be seen in the graphic below, the margins are - so far - quite puny:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/82e5264c5427eb9f8b1987c2182cb39a\" tg-width=\"640\" tg-height=\"311\"><span>Source: Zillow'sQ1 EPS report</span></p>\n<p>As can be seen, the all-in return (after operating costs and interest expense) on the home buying/selling (flipping might be a better word) is a scant 4.94% of the average per-home revenue. That is despite what is generally considered to be a very hot-market real estate market across the nation. In addition, note the iHome business is a threat to the company's future growth aspirations because the pivot to iHome has pretty much cratered the company's Premier Agent business. The pivot also likely means more pressure on Zillow's advertising revenue which generally comes from the agents its iHome segment is now stealing away homes from. And all that for only 4.9% margins?</p>\n<p><b>Going Forward</b></p>\n<p>The chart below is the company's guidance for Q2:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d976a71e1e72bb8f0c6ac3306aa4f100\" tg-width=\"628\" tg-height=\"337\"><span>Source: Zillow's Q1 EPS report</span></p>\n<p>At the midpoint of guidance total adjusted EBITDA ($128 million), note that&nbsp;<b>will be down considerably</b>&nbsp;from the $181 million in total adjusted EBITDA delivered in Q1.</p>\n<p>In addition, note the weighted average share-count at the end of Q1 (it was not included in the Q1 EPS report, but can be found in the&nbsp;SEC 10-Q filing) was 259,346,000 shares (up a whopping 23% yoy). And that share-count is expected to continue growing to an estimated 265.5 million shares at the end of Q2 (based on the guidance shown above).</p>\n<p><b>Valuation</b></p>\n<p>So we have weak margins, falling adjusted EBITDA and a significantly rising number of fully diluted shares. Hmmmm.</p>\n<p>Yet, despite the recent correction in the stock (note the stock is down ~30% since my Seeking Alpha article in March&nbsp;<i>Zillow: Take Profits</i>), the stock is still trading at a lofty valuation given the analysis of Q1 and Q2 guidance just presented. The&nbsp;Seeking Alpha forward P/E=97.7x.</p>\n<p>That is obviously a rich comparison in terms of Zillow's growth prospects (or non-growth...) considering the weak Q2 guidance. In addition, it is not clear to me what the catalyst will be to improve the company's awfully small margins going forward. That is especially the case considering&nbsp;<b>Zillow plans to hire an additional 2,000 employees this year</b>, increasing its headcount by some 40%. In my opinion, this headcount growth will be a significant headwind when it comes to increasing margins. That is, Zillow is not able to demonstrate increasing margins as it tries to scale-up its operations.</p>\n<p>Meantime, the pivot to iHome also means that ZG now has significantly more macro-level risks as it will be increasingly dependent on the ups (now..) and downs (coming...) of the housing market.</p>\n<p><b>Risks</b></p>\n<p>The risk of buying Zillow Group today is - in my opinion, a priced-to-near-perfection valuation level. I say \"near perfection\" because it was priced to perfection when I wrote my \"Take Profits\" article on ZG, and since it is down 30% since that piece was published, now I will simply call ZG a \"rich valuation\" proposition.</p>\n<p>The goods news is that Zillow has a relatively strong balance sheet: it ended the quarter with $4.7 billion in cash (up from $3.9 billion at the end of 2020) after completing a $551 million stock offering during the quarter.</p>\n<p>That compares to $2.259 billion in debt, which was down slightly from year-end. As a result, the company has an estimated $9.19/share in net cash based on the 265.5 million diluted shares outstanding at the end of Q1. And Zillow will likely need to keep a fair amount of cash in order to offset its higher risk profile due to direct exposure to the housing market. That is because history shows us the US housing market can change on-a-dime and could catch ZG holding a rather large inventory of homes.</p>\n<p><b>Summary &amp; Conclusion</b></p>\n<p>While Zillow's Q1 report was certainly much improved on a sequential basis, the company's own Q2 guidance seems to be more indicative of the thesis I presented in my last article on the company. That is, the stock's valuation simply appears to be substantially out-of-whack in comparison to its demonstrated growth metrics. More shares, falling sequential adjusted EBITDA in Q2 despite a hot and highly appreciating housing market and ... well, I just cannot understand the current valuation level. As a result, I maintain the opinion from my previous article: I wouldn't be interested in ZG until it reached the ~$50/share level.</p>\n<p>I will end with a five-year price chart of ZG and note that my $50 target is roughly where the stock was prior to the pandemic. Certainly the EPS reports issues since that time do not justify the rapid and substantial increase in the shares to $200 ... or, even the current $110 level.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8f243f9f555525da2dcb1589d18cd30f\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></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>Zillow: Significant Downside Remains</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\">\nZillow: Significant Downside Remains\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-06 11:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433217-zillow-significant-downside-remains><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nShares of Zillow Group have come down some 30% since my \"Take Profits\" article was published on Seeking Alpha.\nHowever, and despite a definite improvement in the latest Q1 EPS report, the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4433217-zillow-significant-downside-remains\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"Z":"Zillow"},"source_url":"https://seekingalpha.com/article/4433217-zillow-significant-downside-remains","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120164826","content_text":"Summary\n\nShares of Zillow Group have come down some 30% since my \"Take Profits\" article was published on Seeking Alpha.\nHowever, and despite a definite improvement in the latest Q1 EPS report, the stock looks to have a further downside to come.\nThat is because margins are dismal, forward adjusted EBITDA guidance for Q2 was weak (lower than Q1), and the outstanding share count continues to grow.\nYet, the stock still trades with a forward P/E of nearly 100x.\n\nPhoto by Sundry Photography/iStock Editorial via Getty Images\nThe Zillow Group (ZG) has, without a doubt, established itself as the #1 online real estate website and as one-stop shop for home-buying consumers. The company's recent pivot to what I'll call the iHome business (purchasing homes directly from consumers and then selling them on the open market) has been a positive catalyst of late in terms of revenue growth, and that business blends well with ZG's Mortgage Segment and Internet, Media, and Technology Segment. However, despite the recent and significant drop in the price of the shares, ZG still seem substantially overvalued in my opinion. That is because margins are - in a word - pathetic. In addition, Q2 guidance was weak and the company plans to hire an additional 2,000 employees this year. In my opinion, that will pressure margins even further through the remainder of the year.\nInvestment Rationale\nLike many Americans, Zillow has become one of my favorite websites. I am surely not alone when it comes to frequently checking Zillow.com to see what the current \"Zestimate\" is for my home as well as for the homes I have owned in the past, and those of my friends and family.\nIndeed, marketing share data from Statista shows that Zillow is #1 in unique monthly visits, and Trulia - which the Zillow Group bought in 2014 - is #2. In aggregate that gives the Zillow group a stranglehold on the real estate website market (at least by the unique visits metric) at more than 3x the share as compared to what was once a highly competitive race with Realtor.com for consumers' eye-balls:\nSource:Statista\nBut of course there are other metrics to judge the popularity and use of real estate websites. Here is more recent data (April 1, 2021) from SimilarWeb.com:\nSource:SimilarWeb.com\nWhen it comes to average visit duration, pages viewed per visit, and bounce rate (the % of consumers that only view one-page then leave the site), Zillow and Trulia again show impressive comps. That said, note there must be other metrics that figure into the SimilarWeb ratings shown above because - from these metrics alone - one could argue rightmove.co.uk has the best stats as shown. Regardless, this graphic is another indicator that the Zillow/Trulia brand is very strong and the market leader.\nHowever, eye-balls aren't enough ... the views and activity need to be converted into profits, and that is where the Zillow Group is struggling in comparison to its rather lofty valuation.\nQ1 Earnings\nZillow released its Q1 EPS report on May 4th. It was a strong report. GAAP net-income of $0.20/share beat estimates by a whopping $0.13. Revenue of $1.22 billion was a $120 million beat and was up 8% yoy. The company reported strong traffic on its website and mobile apps, with 221 million average monthly users (up 15% yoy) driving 2.5 billion visits during Q1 (up 19% yoy).\nThe most interesting segment in Q1 was the iHome (or what ZG calls \"Zillow Offers\") because it accounted for ~57% of revenue and is the segment Zillow is counting on to be is profitable growth engine.\nHowever, as can be seen in the graphic below, the margins are - so far - quite puny:\nSource: Zillow'sQ1 EPS report\nAs can be seen, the all-in return (after operating costs and interest expense) on the home buying/selling (flipping might be a better word) is a scant 4.94% of the average per-home revenue. That is despite what is generally considered to be a very hot-market real estate market across the nation. In addition, note the iHome business is a threat to the company's future growth aspirations because the pivot to iHome has pretty much cratered the company's Premier Agent business. The pivot also likely means more pressure on Zillow's advertising revenue which generally comes from the agents its iHome segment is now stealing away homes from. And all that for only 4.9% margins?\nGoing Forward\nThe chart below is the company's guidance for Q2:\nSource: Zillow's Q1 EPS report\nAt the midpoint of guidance total adjusted EBITDA ($128 million), note that will be down considerably from the $181 million in total adjusted EBITDA delivered in Q1.\nIn addition, note the weighted average share-count at the end of Q1 (it was not included in the Q1 EPS report, but can be found in the SEC 10-Q filing) was 259,346,000 shares (up a whopping 23% yoy). And that share-count is expected to continue growing to an estimated 265.5 million shares at the end of Q2 (based on the guidance shown above).\nValuation\nSo we have weak margins, falling adjusted EBITDA and a significantly rising number of fully diluted shares. Hmmmm.\nYet, despite the recent correction in the stock (note the stock is down ~30% since my Seeking Alpha article in March Zillow: Take Profits), the stock is still trading at a lofty valuation given the analysis of Q1 and Q2 guidance just presented. The Seeking Alpha forward P/E=97.7x.\nThat is obviously a rich comparison in terms of Zillow's growth prospects (or non-growth...) considering the weak Q2 guidance. In addition, it is not clear to me what the catalyst will be to improve the company's awfully small margins going forward. That is especially the case considering Zillow plans to hire an additional 2,000 employees this year, increasing its headcount by some 40%. In my opinion, this headcount growth will be a significant headwind when it comes to increasing margins. That is, Zillow is not able to demonstrate increasing margins as it tries to scale-up its operations.\nMeantime, the pivot to iHome also means that ZG now has significantly more macro-level risks as it will be increasingly dependent on the ups (now..) and downs (coming...) of the housing market.\nRisks\nThe risk of buying Zillow Group today is - in my opinion, a priced-to-near-perfection valuation level. I say \"near perfection\" because it was priced to perfection when I wrote my \"Take Profits\" article on ZG, and since it is down 30% since that piece was published, now I will simply call ZG a \"rich valuation\" proposition.\nThe goods news is that Zillow has a relatively strong balance sheet: it ended the quarter with $4.7 billion in cash (up from $3.9 billion at the end of 2020) after completing a $551 million stock offering during the quarter.\nThat compares to $2.259 billion in debt, which was down slightly from year-end. As a result, the company has an estimated $9.19/share in net cash based on the 265.5 million diluted shares outstanding at the end of Q1. And Zillow will likely need to keep a fair amount of cash in order to offset its higher risk profile due to direct exposure to the housing market. That is because history shows us the US housing market can change on-a-dime and could catch ZG holding a rather large inventory of homes.\nSummary & Conclusion\nWhile Zillow's Q1 report was certainly much improved on a sequential basis, the company's own Q2 guidance seems to be more indicative of the thesis I presented in my last article on the company. That is, the stock's valuation simply appears to be substantially out-of-whack in comparison to its demonstrated growth metrics. More shares, falling sequential adjusted EBITDA in Q2 despite a hot and highly appreciating housing market and ... well, I just cannot understand the current valuation level. As a result, I maintain the opinion from my previous article: I wouldn't be interested in ZG until it reached the ~$50/share level.\nI will end with a five-year price chart of ZG and note that my $50 target is roughly where the stock was prior to the pandemic. Certainly the EPS reports issues since that time do not justify the rapid and substantial increase in the shares to $200 ... or, even the current $110 level.\nData byYCharts","news_type":1},"isVote":1,"tweetType":1,"viewCount":250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115365487,"gmtCreate":1622952270249,"gmtModify":1704193706248,"author":{"id":"3571834371493533","authorId":"3571834371493533","name":"faruxue89","avatar":"https://static.tigerbbs.com/6dc3e6f887dc2dd1ec94565f232b7e61","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3571834371493533","authorIdStr":"3571834371493533"},"themes":[],"htmlText":"Yea true","listText":"Yea true","text":"Yea true","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/115365487","repostId":"1106312903","repostType":4,"repost":{"id":"1106312903","kind":"news","pubTimestamp":1622855773,"share":"https://ttm.financial/m/news/1106312903?lang=&edition=fundamental","pubTime":"2021-06-05 09:16","market":"us","language":"en","title":"U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=1106312903","media":"Renaissance Capital","summary":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental h","content":"<p><b>Summary</b></p>\n<ul>\n <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>\n <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>\n <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li>\n</ul>\n<p>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p>\n<p>Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p>\n<p>Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p>\n<p>Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p>\n<p>Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p>\n<p>BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p>\n<p>Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p>\n<p>Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p>\n<p>Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p>\n<p><img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p>\n<p>Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p>\n<p><b>IPO Market Snapshot</b></p>\n<p>The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p>","source":"lsy1603787993745","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-05 09:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div><strong>Renaissance Capital</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZETA":"Zeta Global Holdings Corp.","ZME":"掌门教育",".SPX":"S&P 500 Index","TASK":"TaskUs Inc.","LFST":"LifeStance Health Group, Inc.","MQ":"Marqeta, Inc.","MNDY":"Monday.com Ltd.",".IXIC":"NASDAQ Composite","DIBS":"1stdibs.com Inc.",".DJI":"道琼斯","BZ":"BOSS直聘"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106312903","content_text":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.\nChinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.\nChinese online recruitment platform Kanzhun(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.\nMental health services provider LifeStance Health(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.\nIsrael’s monday.com(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.\nBPO vendor TaskUs(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.\nData-driven marketing platform Zeta Global(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.\nOnline luxury goods marketplace 1stDibs(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.\nChinese online tutoring platform Zhangmen Education(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.\n\nStreet research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.","news_type":1},"isVote":1,"tweetType":1,"viewCount":362,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576212227172632","authorId":"3576212227172632","name":"ToTheMOON","avatar":"https://static.tigerbbs.com/7769f4b8d26aa1903d8784e79b05b4df","crmLevel":1,"crmLevelSwitch":0,"idStr":"3576212227172632","authorIdStr":"3576212227172632"},"content":"Please respond thanks","text":"Please respond thanks","html":"Please respond thanks"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112609897,"gmtCreate":1622863561219,"gmtModify":1704192668998,"author":{"id":"3571834371493533","authorId":"3571834371493533","name":"faruxue89","avatar":"https://static.tigerbbs.com/6dc3e6f887dc2dd1ec94565f232b7e61","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3571834371493533","authorIdStr":"3571834371493533"},"themes":[],"htmlText":"Up and 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moon","listText":"<a href=\"https://laohu8.com/S/KOPN\">$Kopin(KOPN)$</a>to the moon","text":"$Kopin(KOPN)$to the moon","images":[{"img":"https://static.tigerbbs.com/a1b664ac7826f7bca1589041c7e8eb8c","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/378100425","isVote":1,"tweetType":1,"viewCount":203,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":115364584,"gmtCreate":1622952293048,"gmtModify":1704193706895,"author":{"id":"3571834371493533","authorId":"3571834371493533","name":"faruxue89","avatar":"https://static.tigerbbs.com/6dc3e6f887dc2dd1ec94565f232b7e61","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3571834371493533","authorIdStr":"3571834371493533"},"themes":[],"htmlText":"Let's go","listText":"Let's go","text":"Let's go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/115364584","repostId":"1120164826","repostType":4,"repost":{"id":"1120164826","kind":"news","pubTimestamp":1622951745,"share":"https://ttm.financial/m/news/1120164826?lang=&edition=fundamental","pubTime":"2021-06-06 11:55","market":"us","language":"en","title":"Zillow: Significant Downside Remains","url":"https://stock-news.laohu8.com/highlight/detail?id=1120164826","media":"seekingalpha","summary":"Summary\n\nShares of Zillow Group have come down some 30% since my \"Take Profits\" article was publishe","content":"<p><b>Summary</b></p>\n<ul>\n <li>Shares of Zillow Group have come down some 30% since my \"Take Profits\" article was published on Seeking Alpha.</li>\n <li>However, and despite a definite improvement in the latest Q1 EPS report, the stock looks to have a further downside to come.</li>\n <li>That is because margins are dismal, forward adjusted EBITDA guidance for Q2 was weak (lower than Q1), and the outstanding share count continues to grow.</li>\n <li>Yet, the stock still trades with a forward P/E of nearly 100x.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ba2b4c631e3e6b24aaf024fb49665ea3\" tg-width=\"768\" tg-height=\"512\"><span>Photo by Sundry Photography/iStock Editorial via Getty Images</span></p>\n<p>The&nbsp;<b>Zillow Group</b>&nbsp;(ZG) has, without a doubt, established itself as the #1 online real estate website and as one-stop shop for home-buying consumers. The company's recent pivot to what I'll call the iHome business (purchasing homes directly from consumers and then selling them on the open market) has been a positive catalyst of late in terms of revenue growth, and that business blends well with ZG's Mortgage Segment and Internet, Media, and Technology Segment. However, despite the recent and significant drop in the price of the shares, ZG still seem substantially overvalued in my opinion. That is because margins are - in a word - pathetic. In addition, Q2 guidance was weak and the company plans to hire an additional 2,000 employees this year. In my opinion, that will pressure margins even further through the remainder of the year.</p>\n<p><b>Investment Rationale</b></p>\n<p>Like many Americans, Zillow has become one of my favorite websites. I am surely not alone when it comes to frequently checking Zillow.com to see what the current \"Zestimate\" is for my home as well as for the homes I have owned in the past, and those of my friends and family.</p>\n<p>Indeed, marketing share data from Statista shows that Zillow is #1 in unique monthly visits, and Trulia - which the Zillow Group bought in 2014 - is #2. In aggregate that gives the Zillow group a stranglehold on the real estate website market (at least by the unique visits metric) at more than 3x the share as compared to what was once a highly competitive race with Realtor.com for consumers' eye-balls:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/929acb56fa1d566e5f6c3ac0d250c2c2\" tg-width=\"640\" tg-height=\"553\"><span>Source:Statista</span></p>\n<p>But of course there are other metrics to judge the popularity and use of real estate websites. Here is more recent data (April 1, 2021) from SimilarWeb.com:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/836f372f61ccb570286e9ac3e0f3143b\" tg-width=\"640\" tg-height=\"366\"><span>Source:SimilarWeb.com</span></p>\n<p>When it comes to average visit duration, pages viewed per visit, and bounce rate (the % of consumers that only view one-page then leave the site), Zillow and Trulia again show impressive comps. That said, note there must be other metrics that figure into the SimilarWeb ratings shown above because - from these metrics alone - one could argue rightmove.co.uk has the best stats as shown. Regardless, this graphic is another indicator that the Zillow/Trulia brand is very strong and the market leader.</p>\n<p>However, eye-balls aren't enough ... the views and activity need to be converted into profits, and that is where the Zillow Group is struggling in comparison to its rather lofty valuation.</p>\n<p><b>Q1 Earnings</b></p>\n<p>Zillow released its&nbsp;Q1 EPS report&nbsp;on May 4th. It was a strong report. GAAP net-income of $0.20/share&nbsp;beat estimates by a whopping $0.13. Revenue of $1.22 billion was a $120 million beat and was up 8% yoy. The company reported strong traffic on its website and mobile apps, with 221 million average monthly users (up 15% yoy) driving 2.5 billion visits during Q1 (up 19% yoy).</p>\n<p>The most interesting segment in Q1 was the iHome (or what ZG calls \"Zillow Offers\") because it accounted for ~57% of revenue and is the segment Zillow is counting on to be is profitable growth engine.</p>\n<p>However, as can be seen in the graphic below, the margins are - so far - quite puny:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/82e5264c5427eb9f8b1987c2182cb39a\" tg-width=\"640\" tg-height=\"311\"><span>Source: Zillow'sQ1 EPS report</span></p>\n<p>As can be seen, the all-in return (after operating costs and interest expense) on the home buying/selling (flipping might be a better word) is a scant 4.94% of the average per-home revenue. That is despite what is generally considered to be a very hot-market real estate market across the nation. In addition, note the iHome business is a threat to the company's future growth aspirations because the pivot to iHome has pretty much cratered the company's Premier Agent business. The pivot also likely means more pressure on Zillow's advertising revenue which generally comes from the agents its iHome segment is now stealing away homes from. And all that for only 4.9% margins?</p>\n<p><b>Going Forward</b></p>\n<p>The chart below is the company's guidance for Q2:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d976a71e1e72bb8f0c6ac3306aa4f100\" tg-width=\"628\" tg-height=\"337\"><span>Source: Zillow's Q1 EPS report</span></p>\n<p>At the midpoint of guidance total adjusted EBITDA ($128 million), note that&nbsp;<b>will be down considerably</b>&nbsp;from the $181 million in total adjusted EBITDA delivered in Q1.</p>\n<p>In addition, note the weighted average share-count at the end of Q1 (it was not included in the Q1 EPS report, but can be found in the&nbsp;SEC 10-Q filing) was 259,346,000 shares (up a whopping 23% yoy). And that share-count is expected to continue growing to an estimated 265.5 million shares at the end of Q2 (based on the guidance shown above).</p>\n<p><b>Valuation</b></p>\n<p>So we have weak margins, falling adjusted EBITDA and a significantly rising number of fully diluted shares. Hmmmm.</p>\n<p>Yet, despite the recent correction in the stock (note the stock is down ~30% since my Seeking Alpha article in March&nbsp;<i>Zillow: Take Profits</i>), the stock is still trading at a lofty valuation given the analysis of Q1 and Q2 guidance just presented. The&nbsp;Seeking Alpha forward P/E=97.7x.</p>\n<p>That is obviously a rich comparison in terms of Zillow's growth prospects (or non-growth...) considering the weak Q2 guidance. In addition, it is not clear to me what the catalyst will be to improve the company's awfully small margins going forward. That is especially the case considering&nbsp;<b>Zillow plans to hire an additional 2,000 employees this year</b>, increasing its headcount by some 40%. In my opinion, this headcount growth will be a significant headwind when it comes to increasing margins. That is, Zillow is not able to demonstrate increasing margins as it tries to scale-up its operations.</p>\n<p>Meantime, the pivot to iHome also means that ZG now has significantly more macro-level risks as it will be increasingly dependent on the ups (now..) and downs (coming...) of the housing market.</p>\n<p><b>Risks</b></p>\n<p>The risk of buying Zillow Group today is - in my opinion, a priced-to-near-perfection valuation level. I say \"near perfection\" because it was priced to perfection when I wrote my \"Take Profits\" article on ZG, and since it is down 30% since that piece was published, now I will simply call ZG a \"rich valuation\" proposition.</p>\n<p>The goods news is that Zillow has a relatively strong balance sheet: it ended the quarter with $4.7 billion in cash (up from $3.9 billion at the end of 2020) after completing a $551 million stock offering during the quarter.</p>\n<p>That compares to $2.259 billion in debt, which was down slightly from year-end. As a result, the company has an estimated $9.19/share in net cash based on the 265.5 million diluted shares outstanding at the end of Q1. And Zillow will likely need to keep a fair amount of cash in order to offset its higher risk profile due to direct exposure to the housing market. That is because history shows us the US housing market can change on-a-dime and could catch ZG holding a rather large inventory of homes.</p>\n<p><b>Summary &amp; Conclusion</b></p>\n<p>While Zillow's Q1 report was certainly much improved on a sequential basis, the company's own Q2 guidance seems to be more indicative of the thesis I presented in my last article on the company. That is, the stock's valuation simply appears to be substantially out-of-whack in comparison to its demonstrated growth metrics. More shares, falling sequential adjusted EBITDA in Q2 despite a hot and highly appreciating housing market and ... well, I just cannot understand the current valuation level. As a result, I maintain the opinion from my previous article: I wouldn't be interested in ZG until it reached the ~$50/share level.</p>\n<p>I will end with a five-year price chart of ZG and note that my $50 target is roughly where the stock was prior to the pandemic. Certainly the EPS reports issues since that time do not justify the rapid and substantial increase in the shares to $200 ... or, even the current $110 level.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8f243f9f555525da2dcb1589d18cd30f\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></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>Zillow: Significant Downside Remains</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\">\nZillow: Significant Downside Remains\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-06 11:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433217-zillow-significant-downside-remains><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nShares of Zillow Group have come down some 30% since my \"Take Profits\" article was published on Seeking Alpha.\nHowever, and despite a definite improvement in the latest Q1 EPS report, the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4433217-zillow-significant-downside-remains\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"Z":"Zillow"},"source_url":"https://seekingalpha.com/article/4433217-zillow-significant-downside-remains","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120164826","content_text":"Summary\n\nShares of Zillow Group have come down some 30% since my \"Take Profits\" article was published on Seeking Alpha.\nHowever, and despite a definite improvement in the latest Q1 EPS report, the stock looks to have a further downside to come.\nThat is because margins are dismal, forward adjusted EBITDA guidance for Q2 was weak (lower than Q1), and the outstanding share count continues to grow.\nYet, the stock still trades with a forward P/E of nearly 100x.\n\nPhoto by Sundry Photography/iStock Editorial via Getty Images\nThe Zillow Group (ZG) has, without a doubt, established itself as the #1 online real estate website and as one-stop shop for home-buying consumers. The company's recent pivot to what I'll call the iHome business (purchasing homes directly from consumers and then selling them on the open market) has been a positive catalyst of late in terms of revenue growth, and that business blends well with ZG's Mortgage Segment and Internet, Media, and Technology Segment. However, despite the recent and significant drop in the price of the shares, ZG still seem substantially overvalued in my opinion. That is because margins are - in a word - pathetic. In addition, Q2 guidance was weak and the company plans to hire an additional 2,000 employees this year. In my opinion, that will pressure margins even further through the remainder of the year.\nInvestment Rationale\nLike many Americans, Zillow has become one of my favorite websites. I am surely not alone when it comes to frequently checking Zillow.com to see what the current \"Zestimate\" is for my home as well as for the homes I have owned in the past, and those of my friends and family.\nIndeed, marketing share data from Statista shows that Zillow is #1 in unique monthly visits, and Trulia - which the Zillow Group bought in 2014 - is #2. In aggregate that gives the Zillow group a stranglehold on the real estate website market (at least by the unique visits metric) at more than 3x the share as compared to what was once a highly competitive race with Realtor.com for consumers' eye-balls:\nSource:Statista\nBut of course there are other metrics to judge the popularity and use of real estate websites. Here is more recent data (April 1, 2021) from SimilarWeb.com:\nSource:SimilarWeb.com\nWhen it comes to average visit duration, pages viewed per visit, and bounce rate (the % of consumers that only view one-page then leave the site), Zillow and Trulia again show impressive comps. That said, note there must be other metrics that figure into the SimilarWeb ratings shown above because - from these metrics alone - one could argue rightmove.co.uk has the best stats as shown. Regardless, this graphic is another indicator that the Zillow/Trulia brand is very strong and the market leader.\nHowever, eye-balls aren't enough ... the views and activity need to be converted into profits, and that is where the Zillow Group is struggling in comparison to its rather lofty valuation.\nQ1 Earnings\nZillow released its Q1 EPS report on May 4th. It was a strong report. GAAP net-income of $0.20/share beat estimates by a whopping $0.13. Revenue of $1.22 billion was a $120 million beat and was up 8% yoy. The company reported strong traffic on its website and mobile apps, with 221 million average monthly users (up 15% yoy) driving 2.5 billion visits during Q1 (up 19% yoy).\nThe most interesting segment in Q1 was the iHome (or what ZG calls \"Zillow Offers\") because it accounted for ~57% of revenue and is the segment Zillow is counting on to be is profitable growth engine.\nHowever, as can be seen in the graphic below, the margins are - so far - quite puny:\nSource: Zillow'sQ1 EPS report\nAs can be seen, the all-in return (after operating costs and interest expense) on the home buying/selling (flipping might be a better word) is a scant 4.94% of the average per-home revenue. That is despite what is generally considered to be a very hot-market real estate market across the nation. In addition, note the iHome business is a threat to the company's future growth aspirations because the pivot to iHome has pretty much cratered the company's Premier Agent business. The pivot also likely means more pressure on Zillow's advertising revenue which generally comes from the agents its iHome segment is now stealing away homes from. And all that for only 4.9% margins?\nGoing Forward\nThe chart below is the company's guidance for Q2:\nSource: Zillow's Q1 EPS report\nAt the midpoint of guidance total adjusted EBITDA ($128 million), note that will be down considerably from the $181 million in total adjusted EBITDA delivered in Q1.\nIn addition, note the weighted average share-count at the end of Q1 (it was not included in the Q1 EPS report, but can be found in the SEC 10-Q filing) was 259,346,000 shares (up a whopping 23% yoy). And that share-count is expected to continue growing to an estimated 265.5 million shares at the end of Q2 (based on the guidance shown above).\nValuation\nSo we have weak margins, falling adjusted EBITDA and a significantly rising number of fully diluted shares. Hmmmm.\nYet, despite the recent correction in the stock (note the stock is down ~30% since my Seeking Alpha article in March Zillow: Take Profits), the stock is still trading at a lofty valuation given the analysis of Q1 and Q2 guidance just presented. The Seeking Alpha forward P/E=97.7x.\nThat is obviously a rich comparison in terms of Zillow's growth prospects (or non-growth...) considering the weak Q2 guidance. In addition, it is not clear to me what the catalyst will be to improve the company's awfully small margins going forward. That is especially the case considering Zillow plans to hire an additional 2,000 employees this year, increasing its headcount by some 40%. In my opinion, this headcount growth will be a significant headwind when it comes to increasing margins. That is, Zillow is not able to demonstrate increasing margins as it tries to scale-up its operations.\nMeantime, the pivot to iHome also means that ZG now has significantly more macro-level risks as it will be increasingly dependent on the ups (now..) and downs (coming...) of the housing market.\nRisks\nThe risk of buying Zillow Group today is - in my opinion, a priced-to-near-perfection valuation level. I say \"near perfection\" because it was priced to perfection when I wrote my \"Take Profits\" article on ZG, and since it is down 30% since that piece was published, now I will simply call ZG a \"rich valuation\" proposition.\nThe goods news is that Zillow has a relatively strong balance sheet: it ended the quarter with $4.7 billion in cash (up from $3.9 billion at the end of 2020) after completing a $551 million stock offering during the quarter.\nThat compares to $2.259 billion in debt, which was down slightly from year-end. As a result, the company has an estimated $9.19/share in net cash based on the 265.5 million diluted shares outstanding at the end of Q1. And Zillow will likely need to keep a fair amount of cash in order to offset its higher risk profile due to direct exposure to the housing market. That is because history shows us the US housing market can change on-a-dime and could catch ZG holding a rather large inventory of homes.\nSummary & Conclusion\nWhile Zillow's Q1 report was certainly much improved on a sequential basis, the company's own Q2 guidance seems to be more indicative of the thesis I presented in my last article on the company. That is, the stock's valuation simply appears to be substantially out-of-whack in comparison to its demonstrated growth metrics. More shares, falling sequential adjusted EBITDA in Q2 despite a hot and highly appreciating housing market and ... well, I just cannot understand the current valuation level. As a result, I maintain the opinion from my previous article: I wouldn't be interested in ZG until it reached the ~$50/share level.\nI will end with a five-year price chart of ZG and note that my $50 target is roughly where the stock was prior to the pandemic. Certainly the EPS reports issues since that time do not justify the rapid and substantial increase in the shares to $200 ... or, even the current $110 level.\nData byYCharts","news_type":1},"isVote":1,"tweetType":1,"viewCount":250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115365487,"gmtCreate":1622952270249,"gmtModify":1704193706248,"author":{"id":"3571834371493533","authorId":"3571834371493533","name":"faruxue89","avatar":"https://static.tigerbbs.com/6dc3e6f887dc2dd1ec94565f232b7e61","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3571834371493533","authorIdStr":"3571834371493533"},"themes":[],"htmlText":"Yea true","listText":"Yea true","text":"Yea true","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/115365487","repostId":"1106312903","repostType":4,"isVote":1,"tweetType":1,"viewCount":362,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576212227172632","authorId":"3576212227172632","name":"ToTheMOON","avatar":"https://static.tigerbbs.com/7769f4b8d26aa1903d8784e79b05b4df","crmLevel":1,"crmLevelSwitch":0,"idStr":"3576212227172632","authorIdStr":"3576212227172632"},"content":"Please respond thanks","text":"Please respond thanks","html":"Please respond thanks"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117862821,"gmtCreate":1623131063563,"gmtModify":1704196706829,"author":{"id":"3571834371493533","authorId":"3571834371493533","name":"faruxue89","avatar":"https://static.tigerbbs.com/6dc3e6f887dc2dd1ec94565f232b7e61","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3571834371493533","authorIdStr":"3571834371493533"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/117862821","repostId":"1132295574","repostType":4,"repost":{"id":"1132295574","kind":"news","pubTimestamp":1623122984,"share":"https://ttm.financial/m/news/1132295574?lang=&edition=fundamental","pubTime":"2021-06-08 11:29","market":"us","language":"en","title":"Netflix No Longer Fits in FAANG, But Here’s Who Does","url":"https://stock-news.laohu8.com/highlight/detail?id=1132295574","media":"The Street","summary":"With Netflix’s dominance being challenged, it may be time to replace the FAANG stocks acronym in fav","content":"<blockquote><b>With Netflix’s dominance being challenged, it may be time to replace the FAANG stocks acronym in favor of FANGMAN.</b></blockquote><p>Nearly a decade ago, TheStreet’s founderJim Cramercoined the acronym FANG, later updated to FAANG, for companies supremely dominant in their respective markets and their stocks’ resulting proclivity for outperformance.</p><p>For the nascent streaming industry, Netflix’s&nbsp;(<b>NFLX</b>) -Get Report&nbsp;position was among the most secure in the shorthand slang for tech titans Facebook&nbsp;(<b>FB</b>) -Get Report&nbsp;in social media, Apple&nbsp;(<b>AAPL</b>) -Get Report&nbsp;in consumer devices, Amazon&nbsp;(<b>AMZN</b>) -Get Report&nbsp;in e-commerce and Alphabet&nbsp;(<b>GOOGL</b>) -Get Report&nbsp;in search.</p><p>However, as more and more players enter the streaming space, perhaps Netflix's dominance and therefore its place in Cramer’s coinage might be more tenuous.</p><p>Indeed, while the Los Gatos, California-based company still leads the pack in terms of subscriber share, the lead is shrinking. Per a recent report from Ampere Analysis, Netflix’s market share was cut by nearly one-third, from 29% to 20% of the total market, as competitors like Disney&nbsp;(<b>DIS</b>) -Get Report&nbsp;have challenged for the streaming crown and seriously damaged the company’s growth story.</p><p>“I think it’s been disconnected from the [rest of the FAANG] group for a while now given its business is extremely different from other members,” Joel Kulina, SVP of Equity Trading at Wedbush Securities said. “It's still a good proxy for large cap growth sentiment but that’s about it.”</p><p><b>Microsoft Moving In?</b></p><p>Given the shortcoming of Netflix in terms of fitting in with the rest of FAANG, debate has been kickstarted over a potential replacement.</p><p>While FAANG was built upon dominance in a particular industry by Cramer, each of the companies that encompass the acronym, save Netflix, have become diversified companies with benefits from multiple industries and strong network effects.</p><p>Apple’s pivot to services has been well-publicized and undergirded its long-term bull thesis; Alphabet has expanded very successfully into video through its acquisition of Youtube and rapidly grown its cloud business while it continues to make many bets in fields as disparate as video games and autonomous vehicles; Facebook has acquired to assert dominance in social media; and Amazon’s cloud dominance has overshadowed its retail beginnings to bolster all of its businesses.</p><p>Through these platforms that branch across numerous industries, each company has been able to benefit from mutualistic business models that cement their status as a dominant tech player. The same cannot be said for Netflix. In order to correct for this glaring dissimilarity, Microsoft&nbsp;(<b>MSFT</b>) -Get Report&nbsp;might be a perfect replacement.</p><p>While the Redmond, Washington-based company has long held a stranglehold on operating systems as its core business, its forays into gaming, advertising and especially cloud computing have taken the company to new heights. In fact, about one-third of the company’s overall revenue is now derived from its cloud business, building upon its longstanding dominance in software.</p><p>Indeed, as CEO Satya Nadella teases a major update to Windows operating systems at the company’s Build 2021 event in late May while signaling an intention to dive deeper than ever into cutting edge technology in cloud, the dominant and well-diversified company is clearly more similar to Facebook, Amazon, Apple and Google than Netflix’s decidedly concentrated business. Like those other companies, Microsoft is dominant in one area of the business while still growing rapidly in others.</p><p>Further, while Cramer did not envision the group as a valuation-based grouping, the staggering gap between Netflix and the rest of its FAANG peers is becoming only more notable. While Netflix sports a still healthy market cap of just over $200 billion, it pales in comparison to the market cap’s of the rest of the grouping, which range from just under $1 trillion in Facebook's case to in excess of $2 trillion for Apple.</p><p>In terms of market-moving ability, this leaves Netflix as somewhat of a laggard and therefore less useful for the grouping’s service as a market indicator.</p><p><b>Addition, Not Subtraction</b></p><p>Still, part of the ubiquity of the FAANG name is not entirely based upon its application to markets. A great degree of credit belongs to the catchiness of the name itself, meaning FAAMG or FAMGA might leave a great deal to be desired in terms of catching on.</p><p>As a result, Wedbush’s Kulina argues that Netflix need not be removed. Instead, he argues for the addition of both Microsoft and his chosen semiconductor stalwart Nvidia&nbsp;(<b>NVDA</b>) -Get Report&nbsp;to result in the catchy FANGMAN.</p><p>“Many have tried to include Microsoft in with others but it doesn’t roll off the tongue as easily,” he commented. “FANGMAN has been one of the better ones I’ve come across, easy to say; includes large cap growth names across various pockets of tech.”</p><p>Certainly Nvidia would also fit in well as its dominance in graphics chips has helped the firm assert a dominant market share in graphics cards, clocking in at a whopping 82% market share per Jon Peddie Research.</p><p>In terms of diversifying, CEO Jensen Huang’s acquisition strategy has helped the firm branch into the automotive industry through high-profile partnerships through its NVIDIA drive network as well as data centers, aided by the acquisition of Mellanox, as well as AI technology through its anticipated takeover of Arm.</p><p>While the semiconductor industry is certainly crowded, Nvidia has managed to set itself apart beyond its firm base in gaming and graphic chip dominance. As such, it might also be a perfect candidate for mention alongside the long-time tech leaders. Also, its market cap is a healthy $400+ billion, adding to its potential to fit with the rest of the group.</p><p>As such, Netflix may not need to be removed from FAANG as it still clings to a lead in streaming amidst the wave of entrants to the industry, but it may need to at least move into a slightly more crowded market mnemonic.</p>","source":"lsy1610613172068","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>Netflix No Longer Fits in FAANG, But Here’s Who Does</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNetflix No Longer Fits in FAANG, But Here’s Who Does\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-08 11:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/netflix-no-longer-fits-in-faang-heres-who-does><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>With Netflix’s dominance being challenged, it may be time to replace the FAANG stocks acronym in favor of FANGMAN.Nearly a decade ago, TheStreet’s founderJim Cramercoined the acronym FANG, later ...</p>\n\n<a href=\"https://www.thestreet.com/investing/netflix-no-longer-fits-in-faang-heres-who-does\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达","NFLX":"奈飞","MSFT":"微软"},"source_url":"https://www.thestreet.com/investing/netflix-no-longer-fits-in-faang-heres-who-does","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132295574","content_text":"With Netflix’s dominance being challenged, it may be time to replace the FAANG stocks acronym in favor of FANGMAN.Nearly a decade ago, TheStreet’s founderJim Cramercoined the acronym FANG, later updated to FAANG, for companies supremely dominant in their respective markets and their stocks’ resulting proclivity for outperformance.For the nascent streaming industry, Netflix’s (NFLX) -Get Report position was among the most secure in the shorthand slang for tech titans Facebook (FB) -Get Report in social media, Apple (AAPL) -Get Report in consumer devices, Amazon (AMZN) -Get Report in e-commerce and Alphabet (GOOGL) -Get Report in search.However, as more and more players enter the streaming space, perhaps Netflix's dominance and therefore its place in Cramer’s coinage might be more tenuous.Indeed, while the Los Gatos, California-based company still leads the pack in terms of subscriber share, the lead is shrinking. Per a recent report from Ampere Analysis, Netflix’s market share was cut by nearly one-third, from 29% to 20% of the total market, as competitors like Disney (DIS) -Get Report have challenged for the streaming crown and seriously damaged the company’s growth story.“I think it’s been disconnected from the [rest of the FAANG] group for a while now given its business is extremely different from other members,” Joel Kulina, SVP of Equity Trading at Wedbush Securities said. “It's still a good proxy for large cap growth sentiment but that’s about it.”Microsoft Moving In?Given the shortcoming of Netflix in terms of fitting in with the rest of FAANG, debate has been kickstarted over a potential replacement.While FAANG was built upon dominance in a particular industry by Cramer, each of the companies that encompass the acronym, save Netflix, have become diversified companies with benefits from multiple industries and strong network effects.Apple’s pivot to services has been well-publicized and undergirded its long-term bull thesis; Alphabet has expanded very successfully into video through its acquisition of Youtube and rapidly grown its cloud business while it continues to make many bets in fields as disparate as video games and autonomous vehicles; Facebook has acquired to assert dominance in social media; and Amazon’s cloud dominance has overshadowed its retail beginnings to bolster all of its businesses.Through these platforms that branch across numerous industries, each company has been able to benefit from mutualistic business models that cement their status as a dominant tech player. The same cannot be said for Netflix. In order to correct for this glaring dissimilarity, Microsoft (MSFT) -Get Report might be a perfect replacement.While the Redmond, Washington-based company has long held a stranglehold on operating systems as its core business, its forays into gaming, advertising and especially cloud computing have taken the company to new heights. In fact, about one-third of the company’s overall revenue is now derived from its cloud business, building upon its longstanding dominance in software.Indeed, as CEO Satya Nadella teases a major update to Windows operating systems at the company’s Build 2021 event in late May while signaling an intention to dive deeper than ever into cutting edge technology in cloud, the dominant and well-diversified company is clearly more similar to Facebook, Amazon, Apple and Google than Netflix’s decidedly concentrated business. Like those other companies, Microsoft is dominant in one area of the business while still growing rapidly in others.Further, while Cramer did not envision the group as a valuation-based grouping, the staggering gap between Netflix and the rest of its FAANG peers is becoming only more notable. While Netflix sports a still healthy market cap of just over $200 billion, it pales in comparison to the market cap’s of the rest of the grouping, which range from just under $1 trillion in Facebook's case to in excess of $2 trillion for Apple.In terms of market-moving ability, this leaves Netflix as somewhat of a laggard and therefore less useful for the grouping’s service as a market indicator.Addition, Not SubtractionStill, part of the ubiquity of the FAANG name is not entirely based upon its application to markets. A great degree of credit belongs to the catchiness of the name itself, meaning FAAMG or FAMGA might leave a great deal to be desired in terms of catching on.As a result, Wedbush’s Kulina argues that Netflix need not be removed. Instead, he argues for the addition of both Microsoft and his chosen semiconductor stalwart Nvidia (NVDA) -Get Report to result in the catchy FANGMAN.“Many have tried to include Microsoft in with others but it doesn’t roll off the tongue as easily,” he commented. “FANGMAN has been one of the better ones I’ve come across, easy to say; includes large cap growth names across various pockets of tech.”Certainly Nvidia would also fit in well as its dominance in graphics chips has helped the firm assert a dominant market share in graphics cards, clocking in at a whopping 82% market share per Jon Peddie Research.In terms of diversifying, CEO Jensen Huang’s acquisition strategy has helped the firm branch into the automotive industry through high-profile partnerships through its NVIDIA drive network as well as data centers, aided by the acquisition of Mellanox, as well as AI technology through its anticipated takeover of Arm.While the semiconductor industry is certainly crowded, Nvidia has managed to set itself apart beyond its firm base in gaming and graphic chip dominance. As such, it might also be a perfect candidate for mention alongside the long-time tech leaders. Also, its market cap is a healthy $400+ billion, adding to its potential to fit with the rest of the group.As such, Netflix may not need to be removed from FAANG as it still clings to a lead in streaming amidst the wave of entrants to the industry, but it may need to at least move into a slightly more crowded market mnemonic.","news_type":1},"isVote":1,"tweetType":1,"viewCount":304,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117862353,"gmtCreate":1623131038472,"gmtModify":1704196706667,"author":{"id":"3571834371493533","authorId":"3571834371493533","name":"faruxue89","avatar":"https://static.tigerbbs.com/6dc3e6f887dc2dd1ec94565f232b7e61","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3571834371493533","authorIdStr":"3571834371493533"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/117862353","repostId":"1106675153","repostType":4,"repost":{"id":"1106675153","kind":"news","pubTimestamp":1623130452,"share":"https://ttm.financial/m/news/1106675153?lang=&edition=fundamental","pubTime":"2021-06-08 13:34","market":"us","language":"en","title":"Goldman Sachs says disruptions from the chip shortage should diminish in the second half of 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=1106675153","media":"cnbc","summary":"The worst may soon be over when it comes to disruptions stemming from the global chip shortage, acco","content":"<div>\n<p>The worst may soon be over when it comes to disruptions stemming from the global chip shortage, according to Goldman Sachs.Andrew Tilton, chief Asia economist at the bank, said the situation could ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/goldman-disruptions-from-the-chip-shortage-should-improve-soon.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Sachs says disruptions from the chip shortage should diminish in the second half of 2021</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Sachs says disruptions from the chip shortage should diminish in the second half of 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-08 13:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/goldman-disruptions-from-the-chip-shortage-should-improve-soon.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The worst may soon be over when it comes to disruptions stemming from the global chip shortage, according to Goldman Sachs.Andrew Tilton, chief Asia economist at the bank, said the situation could ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/goldman-disruptions-from-the-chip-shortage-should-improve-soon.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSM":"台积电"},"source_url":"https://www.cnbc.com/2021/06/08/goldman-disruptions-from-the-chip-shortage-should-improve-soon.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1106675153","content_text":"The worst may soon be over when it comes to disruptions stemming from the global chip shortage, according to Goldman Sachs.Andrew Tilton, chief Asia economist at the bank, said the situation could improve in the second half of 2021.He said there have been “noticeable tightening” of supply chains and shipment delays in North Asian economies such as Japan, Taiwan and South Korea, which are involved in the semiconductor supply chain.\"That will have an impact on downstream sectors. Auto production is one of those,\" he told CNBC's \"Street Signs Asia\" on Monday.\"Our analysts believe we're probably in the worst period of that right now. That is, we're seeing the biggest disruption downstream (in) industries like auto right now and that will gradually ease over the back half of the year,\" Tilton said.The world has been grappling with a chip shortage that has hitthe production of household electronics, including everything from toasters to washing machines.It is also expected tocost the global auto industry $110 billion in revenue in 2021, according to consulting firm AlixPartners.The firm expects the largest impact to car production to hit in the second quarter, before progressively getting better during the second half of the year and into 2022, Dan Hearsch, a managing director in AlixPartners' automotive and industrial practice, previously told CNBC.Concerns in TaiwanStill, Goldman's Tilton said the situation is worth monitoring, especially if other disruptions in the supply chain emerge.\"There was a lot of concern in Taiwan that droughts or the resurgence of a new Covid outbreak there could result in a significant shortfall in production. So far we haven't seen that,\" he said.There've been a couple of isolated disruptions, but so far, not enough to cause a major disruption to the semi supply chain.Andrew TiltonGOLDMAN SACHS CHIEF ASIA ECONOMISTChip manufacturing plants use huge amounts of water daily, and Taiwan, home to the world's largest contract chipmaker,is facing its worst water shortage in 56 years. On Sunday, the islandlifted some water restrictions after a recent bout of heavy rain, Reuters reported.Taiwan is also dealing with a Covid outbreak that emerged in May after it successfully kept the virus at bay for most of the pandemic.\"There've been a couple of isolated disruptions, but so far, not enough to cause a major disruption to the semi supply chain,\" Tilton said.It remains something that needs to be watched closely in the coming weeks and months, he added.","news_type":1},"isVote":1,"tweetType":1,"viewCount":295,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136416110,"gmtCreate":1622035601630,"gmtModify":1704178221052,"author":{"id":"3571834371493533","authorId":"3571834371493533","name":"faruxue89","avatar":"https://static.tigerbbs.com/6dc3e6f887dc2dd1ec94565f232b7e61","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3571834371493533","authorIdStr":"3571834371493533"},"themes":[],"htmlText":"<a 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21:20","market":"us","language":"en","title":"Amazon to buy MGM Studios for $8.45 billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1130889901","media":"cnbc","summary":"Amazon said Wednesday it will acquire MGM Studios for $8.45 billion, marking its boldest move yet in","content":"<div>\n<p>Amazon said Wednesday it will acquire MGM Studios for $8.45 billion, marking its boldest move yet into the entertainment industry and turbocharging its streaming ambitions.\nThe deal is the second-...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/26/amazon-to-buy-mgm-studios-for-8point45-billion.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" 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.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\">\nAmazon to buy MGM Studios for $8.45 billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-26 21:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/05/26/amazon-to-buy-mgm-studios-for-8point45-billion.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Amazon said Wednesday it will acquire MGM Studios for $8.45 billion, marking its boldest move yet into the entertainment industry and turbocharging its streaming ambitions.\nThe deal is the second-...</p>\n\n<a href=\"https://www.cnbc.com/2021/05/26/amazon-to-buy-mgm-studios-for-8point45-billion.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.cnbc.com/2021/05/26/amazon-to-buy-mgm-studios-for-8point45-billion.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1130889901","content_text":"Amazon said Wednesday it will acquire MGM Studios for $8.45 billion, marking its boldest move yet into the entertainment industry and turbocharging its streaming ambitions.\nThe deal is the second-largest acquisition in Amazon's history, behind its$13.7 billion purchaseof Whole Foods in 2017.\nAmazon said it hopes to leverage MGM's storied filmmaking history and wide-ranging catalog of 4,000 films and 17,000 TV shows to help bolster Amazon Studios, its film and TV division.\n\"The real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM's talented team,\" said Mike Hopkins, senior vice president of Prime Video and Amazon Studios. \"It's very exciting and provides so many opportunities for high-quality storytelling.\"\nIn a statement, MGM Chairman Kevin Ulrich said: \"The opportunity to align MGM's storied history with Amazon is an inspiring combination.\"\nShares of Amazon barely moved on the announcement.\nThe deal emphasizes Amazon's willingness to spend deeply to remain competitive in the crowded streaming market. Amazon,Netflix,Disneyand other video streaming services have been looking to beef up their content libraries to win over subscribers, committing billions toward licensing content and developing original programming.\nAt the same time, media juggernauts have undergone further consolidation to achieve greater scale to take on the likes of Amazon and Netflix.Discovery's$43 billion deal to merge with WarnerMedia after a spinoff fromAT&T,announced last week, is the latest sign of that.\nAmazon has longbeen willing to make big investmentson video content as a strategy to buoy Prime memberships, which now surpass 200 million globally.It spent $11 billionon video and music content last year, up from $7.8 billion in 2019. CEO Jeff Bezoshas argued thatthese investments reinforce Amazon's \"flywheel effect,\" in that it attracts more Prime subscribers, who in turn, tend to spend more on the site.\nAmazon has landed hits in film and television programming, including \"The Big Sick\" and \"Manchester By The Sea,\" winner of the 2017 Academy Award for best original screenplay, as well as series \"The Marvelous Mrs. Maisel\" and \"Transparent.\"\nAnother closely watched project, an adaptation of \"Lord of the Rings,\" is currently in production. \"Lord of the Rings\"has a season one price tagof $465 million, likely making it one of the most costly television series ever made.\nAmazon has also made an aggressive push into sports content, inking a dealwith the NFL in Mayto broadcast Thursday Night Football starting in 2022.\nAmazon has a seasoned representative in Hollywood. The companyannounced last weekthat it would bring back Jeff Blackburn, formerly a top lieutenant to Bezos, to oversee a new Global Media & Entertainment division, which consolidates its entertainment offerings under one heading, including Prime Video, Amazon Studios, its music and podcasting businesses, Amazon Games and Twitch.\nJames Bond wears Tom Ford's knitted sleeve bomber jacketCourtesy of Sony\nMGM will make Amazon's TV and film library even more robust. The Hollywood studio owns the James Bond catalog and its studio has made several hit shows including \"The Handmaid's Tale\" and \"Fargo.\" It also owns premium cable network Epix and owns a number of popular reality TV shows, including \"Shark Tank,\" \"Survivor\" and \"The Real Housewives\" series.\nMGM, which is a private company, has been seeking a buyer for several years. Its owners include Anchorage Capital, Highland Capital Partners, Davidson, Kempner Capital Management, Solus Alternative Asset Management and Owl Creek Investments — funds that took control of the studio when it emerged from bankruptcy in 2010.\nThe MGM deal could heighten antitrust concerns for Amazon. The company faces ongoing probes by multiple federal agencies, state attorneys general and Europe's antitrust watchdog. The House Judiciary antitrust subcommittee issued a sweeping report last October that found Amazonhas monopoly powerover third-party sellers on its marketplace.\nThe acquisition announcement comes one day after new antitrust claims were levied against Amazon. On Tuesday, Washington, D.C., Attorney General Karl Racineannouncedhe's suing Amazon on antitrust grounds, alleging the company's pricing contracts with third-party sellers have unfairly raised prices for consumers and harmed competition. Amazon pushed back against the lawsuit's claims, saying that sellers set their own prices for the products they sell on its marketplace.","news_type":1},"isVote":1,"tweetType":1,"viewCount":19,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":378100425,"gmtCreate":1619007239767,"gmtModify":1704718180613,"author":{"id":"3571834371493533","authorId":"3571834371493533","name":"faruxue89","avatar":"https://static.tigerbbs.com/6dc3e6f887dc2dd1ec94565f232b7e61","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3571834371493533","authorIdStr":"3571834371493533"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/KOPN\">$Kopin(KOPN)$</a>to the moon","listText":"<a href=\"https://laohu8.com/S/KOPN\">$Kopin(KOPN)$</a>to the moon","text":"$Kopin(KOPN)$to the 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