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2023-07-30

$New Oriental Education & Technology(EDU)$

2022-09-26

$New Oriental Education & Technology(EDU)$Holding for sometime

2022-09-25

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2022-09-23

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2022-09-23

It's allle anyway

Apple: A Word Of Caution From Tim Cook And iPhone 14 Pre-Orders

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Technology(EDU)$</a>Holding for sometime&nbsp;","text":"$New Oriental Education & Technology(EDU)$Holding for sometime","images":[{"img":"https://community-static.tradeup.com/news/d7fd638df3bce1159f1da66048ca1007","width":"1170","height":"2532"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/9911948452","isVote":1,"tweetType":1,"viewCount":292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9911047934,"gmtCreate":1664098762329,"gmtModify":1676537390526,"author":{"id":"3573095860147450","authorId":"3573095860147450","name":"sanjkatt3","avatar":"https://static.tigerbbs.com/e2374af8a1e9c9a14f6435363e07d848","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Issue","listText":"Issue","text":"Issue","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9911047934","repostId":"2269490734","repostType":4,"isVote":1,"tweetType":1,"viewCount":109,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9913116513,"gmtCreate":1663936184432,"gmtModify":1676537366273,"author":{"id":"3573095860147450","authorId":"3573095860147450","name":"sanjkatt3","avatar":"https://static.tigerbbs.com/e2374af8a1e9c9a14f6435363e07d848","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Competition is tough.&nbsp;","listText":"Competition is tough.&nbsp;","text":"Competition is tough.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9913116513","repostId":"1161118776","repostType":4,"isVote":1,"tweetType":1,"viewCount":98,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9913118413,"gmtCreate":1663935987432,"gmtModify":1676537366242,"author":{"id":"3573095860147450","authorId":"3573095860147450","name":"sanjkatt3","avatar":"https://static.tigerbbs.com/e2374af8a1e9c9a14f6435363e07d848","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Not good sign","listText":"Not good sign","text":"Not good sign","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9913118413","repostId":"1146407106","repostType":4,"isVote":1,"tweetType":1,"viewCount":206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9913195142,"gmtCreate":1663931223587,"gmtModify":1676537365597,"author":{"id":"3573095860147450","authorId":"3573095860147450","name":"sanjkatt3","avatar":"https://static.tigerbbs.com/e2374af8a1e9c9a14f6435363e07d848","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"It's allle anyway","listText":"It's allle anyway","text":"It's allle anyway","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9913195142","repostId":"1143184962","repostType":4,"repost":{"id":"1143184962","pubTimestamp":1663946413,"share":"https://www.laohu8.com/m/news/1143184962?lang=&edition=full","pubTime":"2022-09-23 23:20","market":"us","language":"en","title":"Apple: A Word Of Caution From Tim Cook And iPhone 14 Pre-Orders","url":"https://stock-news.laohu8.com/highlight/detail?id=1143184962","media":"Seeking Alpha","summary":"SummaryA revenue beat from 3Q22 results came from better than expected supply side factors rather th","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>A revenue beat from 3Q22 results came from better than expected supply side factors rather than from the demand side.</li><li>Tim Cook did not see any impact on demand for iPhones so far, although there were pockets of weakness in other parts of the business due to macroeconomic impacts.</li><li>There were incremental improvements made for the iPhone, AirPods and Apple Watch in the September 7 event.</li><li>Early data from pre-orders of the new iPhone 14 shows weakness in some models while the iPhone 14 Pro Max demand was strong.</li><li>My 1 year target price for Apple is $128, implying a 17% downside from current levels.</li></ul><p>Apple (NASDAQ:AAPL)has held the status as the most valuable company in the world for some time now and for good reasons. I have written about the positives as well as the negatives for the investment case for and against Apple in my previous article. In this article, I look for early warning signs that demand for Apple products may be less than expected as the global economy starts to weaken.</p><p><b>Investment thesis</b></p><p>While I continue to see Apple as an excellent company with great products and a strong brand with strong competitive moats, I do think that the current price levels are not the right levels for investors to add to Apple. The premium multiple it is commanding today comes with a high level of risk as the market is pricing in mid single digit EPS growth in the next 2 years. With the heightened risk of slowing of the macroeconomic environment and potentially a recession, demand for Apple&#39;s products could start to wane as consumers become more sensitive in their spending.</p><p>As such, I think that the current premium multiple is not warranted given the possibility of further downward revisions to the mid single digit EPS that is priced in today. Even with the competitive moat that Apple has today, with a hefty price tag of 24x 2023 P/E with 6% EPS growth from 2023 to 2024, I think that there could be more downside to come for Apple.</p><p><b>3Q22 revenue beat came from supply side</b></p><p>In the current 3Q22 quarter, the company posted a revenue beat of $2.8 billion. Given that management guided that they expect a supply chain impact of about $4 billion to $8 billion for the current quarter, the approximately $3.5 billion in supply chain impact brought a positive impact of about $2.5 billion to the average of $6 billion supply chain impacts that would be expected for the quarter. As a result, the revenue beat did come from better than expected supply side factors, which is of course, positive news given that supply chain issues have been a major constraint for some of its products.</p><p>That said, I take a more cautious view on the demand side of things for Apple until I start to see demand driving the beat. I would look at the sales of the newest iPhone 14 models to gauge for demand since, as highlighted in my previous article, the iPhone takes up more than50%of Apple&#39;s total revenues.</p><p><b>Weak guidance</b></p><p>Although Apple does not usually give a specific numeric guidance, the fourth quarter guidance was less clear than normally provided. In terms of how the macroeconomic environment and higher inflation is affecting the business, I think that it is encouraging that management cleared the air that for the iPhone in particular, there were no obvious signs that macroeconomic factors were affecting the business.</p><p>However, it is also worth pointing out that CEO Tim Cook did acknowledge pockets of weakness in Wearables and Services as these businesses seem to be experiencing the impacts of weakening macroeconomic environment. Mac and iPad were constrained by supply which were not enough to test the demand. Also, there are headwinds coming from the foreign exchange as there were 300 basis points that had an impact on growth rates in the current quarter coming from these FX headwinds.</p><p>All in all, while there are pockets of weakness, I think that it is not all doom for Apple as consumer demand for the iPhone still looks to be holding up. Should there be any signs of weakness in demand for the iPhone 14, I think that this may spell near-term trouble for the company. However, I think management is currently being cautious about expectations rather than management signaling that consumer demand is waning. Furthermore, I think that the uncertain global environment does make it relatively more difficult for a clearer guidance.</p><p><b>Apple&#39;s 7 Sept event</b></p><p>As usual, Apple&#39;s biggest event of the calendar year was met with much enthusiasm. It was great to see incremental improvements, in my view, for their launches of the new iPhone, Watch and AirPods during the 7 September event.</p><p>Firstly, I would highlight the pricing for all models of its iPhones remain unchanged. In my view, this is necessary given that Apple could see a shift in demand from iPhone Pro to its non-Pro models if there were a price increase. Apple&#39;s iPhone Pro mix was abnormally higher during the pandemic and an increase in prices for the iPhone 14 Pro might have risked a more drastic normalization of the iPhone mix.</p><p>Apple did release other features like the Emergency SOS service that uses satellite connectivity which will be free for 2 years for all the new phones that allow for the service, as well as the Dynamic Island that is meant as a clever use of the cutout in the iPhone Pro model for showing alerts. The iPhone Pro model also has an updated 48MP quad-pixel sensor and up from the previous model&#39;s 12MP. Action mode was also launched for videos to look more smooth in videos with significant motion.</p><p>Targeting the fitness and outdoor enthusiasts that currently use watches from companies like Garmin, Apple launched the Apple Ultra Watch. It is a new premium watch with a 49mm titanium case and the watch has improved multi band GPS and the new L5frequency, with a pricing of $799. Furthermore, the company eliminated the Apple Watch Series 3 while reducing the price of the Apple Watch SE by $30 to $249. This means that the most affordable Apple Watch is now the Apple Watch SE.</p><p>Other upgrades include an upgrade to the AirPods Pro, with a new H2 chip that is said to have better sound quality, almost 2x better noise cancellation as well as a longer battery life of6 hours compared to the 4.5 hours in the previous version. Also, the pricing of the new AirPods Pro remains unchanged at $249.</p><p>All in all, while there were incremental improvements during the event for the new iPhone, Watch and AirPods, I take the view that these will not make meaningful improvements to the company&#39;s business or growth. With the event now behind us, this also leaves one less catalyst for the Apple stock in the near term and since this event does not move the needle much, most of the upside or downside in the near term will still come from the higher or lower demand for Apple&#39;s products in the current uncertain economic environment.</p><p><b>Early signs of demand from iPhone 14 launch</b></p><p>While it may be premature to gauge how the sales of the newest iPhone 14 will be in the next year, the data from the launch can be a good leading indicator of what we can expect moving forward. Furthermore, typically the more loyal Apple fans will be the ones buying the latest model near launch date and may not be a good representation of what the true demand is going forward.</p><p>An analyst from TF Securities has done the good work of analyzing and providing data on the pre-orders of Apple&#39;s newest iPhone 14 models. What he found was that for the top end model, iPhone 14 Pro Max, this surpassed the demand that was seen in the same period last year, for which the analyst rated good. The iPhone 14 Pro saw the same demand as the iPhone 13 Pro one year before and thus, was labeled as neutral. The iPhone 14 and iPhone 14 plus were rated a bad rating.</p><p>I think what this means is that we will see a shift in the mix towards the higher end model and thus a higher average selling price given the strong numbers for the iPhone 14 Pro Max. Furthermore, it does imply that the higher end consumers continue to be willing to spend and that iPhone 14 Pro Max&#39;s features and upgrades are the most attractive relative to the other 3 models.</p><p>The iPhone 14 plus had a weaker demand than that of the iPhone 13 mini launched last year, and the two models of iPhone 14 and iPhone 14 plus made up 45% of total shipments.</p><p>It remains to be seen whether the relatively stronger demand for the iPhone 14 Pro Max will be sustained past the early pre-order phase as we might see demand wane if the less loyal Apple consumers may not have the same enthusiasm for the iPhone 14 Pro Max as those who made the pre-order.</p><p><b>Valuation</b></p><p>Apple is currently trading at 24x 2023 P/E and 23x 2024 P/E. Embedded in this P/E is the pricing in of 6% growth on average in these 2 years. Even though I acknowledge Apple has one of the best businesses and competitive moats, I think that Apple still looks expensive to me at current levels.</p><p>I think that Apple&#39;s premium multiple makes it difficult for me to justify investment into the company at current levels because of the risks of macro economy weakening going into 2023, bringing downside to the current 6% average growth expected over the next 2 years. Furthermore, paying 24x 2023 P/E for 6% growth rate does not make sense to me as I see better opportunities out there.</p><p>I apply a 20x P/E multiple to my 2023F EPS estimate of $6.40. As such, my 1 year target price for Apple is $128, implying 17% downside from current levels. While I have not priced in a recession scenario in my EPS estimates for 2023F, I think that my estimates are relatively de-risked from that of Wall Street and my lower P/E multiple takes into account the higher risk we are seeing today with regard to the weakening macro situation.</p><p><b>Risks</b></p><p>Macroeconomic environment</p><p>While it can be argued that Apple has the most loyal fans, the uncertainty around the global macroeconomic environment now means that there are heightened risks that demand could fade if the economy makes a turn for the worse. I think that the main risk for Apple right now both for the upside and the downside is how demand plays out in the near-term. If demand holds up better than expected, we could see further upside in the stock price. However, if the recession scenario does occur and demand falls, there could be substantial downside to come.</p><p>Market share loss in high end smartphone markets</p><p>While Apple has one of the best competitive moats in the world, sometimes, the bigger they come, the harder they may fall. As such, I think it is crucial Apple maintains this competitive advantage. If Apple is unable to maintain its competitive advantage as an ecosystem leader, other high end smartphone players may take up market share and this will negatively affect share price.</p><p><b>Conclusion</b></p><p>Although Apple&#39;s strong platform creates optionality longer term we see this as offset by a premium multiple and both macro and normalization risks to numbers heading into 2023. We believe there are better options for investors wishing to weather deteriorating macro elsewhere in our coverage.</p><p>I prefer to be on the sidelines with Apple at the current levels, and maintain my neutral rating. There are warning signs for the business appearing as Tim Cook has mentioned some pockets of weakness in the business in the 2Q22 call, supply side factors driving the revenue beat in 2Q22, and iPhone 14 and iPhone 14 plus models not being well received in the pre-order stage. That said, I continue to like Apple as a business for the long-term with a great management running the show with best-in-class products and strong brand reputation. The premium valuation is not justified with the heightened risks that we are seeing going into 2023 with risks of weakening of consumer sentiment and potentially a recession. As such, I think that market has not yet priced in these risks for Apple. My 1 year target price for Apple is $128, implying 17% downside from current levels.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple: A Word Of Caution From Tim Cook And iPhone 14 Pre-Orders</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\">\nApple: A Word Of Caution From Tim Cook And iPhone 14 Pre-Orders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-23 23:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4542569-apple-a-word-of-caution-from-tim-cook-and-iphone-14-pre-orders?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A7><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryA revenue beat from 3Q22 results came from better than expected supply side factors rather than from the demand side.Tim Cook did not see any impact on demand for iPhones so far, although there...</p>\n\n<a href=\"https://seekingalpha.com/article/4542569-apple-a-word-of-caution-from-tim-cook-and-iphone-14-pre-orders?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A7\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4542569-apple-a-word-of-caution-from-tim-cook-and-iphone-14-pre-orders?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A7","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143184962","content_text":"SummaryA revenue beat from 3Q22 results came from better than expected supply side factors rather than from the demand side.Tim Cook did not see any impact on demand for iPhones so far, although there were pockets of weakness in other parts of the business due to macroeconomic impacts.There were incremental improvements made for the iPhone, AirPods and Apple Watch in the September 7 event.Early data from pre-orders of the new iPhone 14 shows weakness in some models while the iPhone 14 Pro Max demand was strong.My 1 year target price for Apple is $128, implying a 17% downside from current levels.Apple (NASDAQ:AAPL)has held the status as the most valuable company in the world for some time now and for good reasons. I have written about the positives as well as the negatives for the investment case for and against Apple in my previous article. In this article, I look for early warning signs that demand for Apple products may be less than expected as the global economy starts to weaken.Investment thesisWhile I continue to see Apple as an excellent company with great products and a strong brand with strong competitive moats, I do think that the current price levels are not the right levels for investors to add to Apple. The premium multiple it is commanding today comes with a high level of risk as the market is pricing in mid single digit EPS growth in the next 2 years. With the heightened risk of slowing of the macroeconomic environment and potentially a recession, demand for Apple's products could start to wane as consumers become more sensitive in their spending.As such, I think that the current premium multiple is not warranted given the possibility of further downward revisions to the mid single digit EPS that is priced in today. Even with the competitive moat that Apple has today, with a hefty price tag of 24x 2023 P/E with 6% EPS growth from 2023 to 2024, I think that there could be more downside to come for Apple.3Q22 revenue beat came from supply sideIn the current 3Q22 quarter, the company posted a revenue beat of $2.8 billion. Given that management guided that they expect a supply chain impact of about $4 billion to $8 billion for the current quarter, the approximately $3.5 billion in supply chain impact brought a positive impact of about $2.5 billion to the average of $6 billion supply chain impacts that would be expected for the quarter. As a result, the revenue beat did come from better than expected supply side factors, which is of course, positive news given that supply chain issues have been a major constraint for some of its products.That said, I take a more cautious view on the demand side of things for Apple until I start to see demand driving the beat. I would look at the sales of the newest iPhone 14 models to gauge for demand since, as highlighted in my previous article, the iPhone takes up more than50%of Apple's total revenues.Weak guidanceAlthough Apple does not usually give a specific numeric guidance, the fourth quarter guidance was less clear than normally provided. In terms of how the macroeconomic environment and higher inflation is affecting the business, I think that it is encouraging that management cleared the air that for the iPhone in particular, there were no obvious signs that macroeconomic factors were affecting the business.However, it is also worth pointing out that CEO Tim Cook did acknowledge pockets of weakness in Wearables and Services as these businesses seem to be experiencing the impacts of weakening macroeconomic environment. Mac and iPad were constrained by supply which were not enough to test the demand. Also, there are headwinds coming from the foreign exchange as there were 300 basis points that had an impact on growth rates in the current quarter coming from these FX headwinds.All in all, while there are pockets of weakness, I think that it is not all doom for Apple as consumer demand for the iPhone still looks to be holding up. Should there be any signs of weakness in demand for the iPhone 14, I think that this may spell near-term trouble for the company. However, I think management is currently being cautious about expectations rather than management signaling that consumer demand is waning. Furthermore, I think that the uncertain global environment does make it relatively more difficult for a clearer guidance.Apple's 7 Sept eventAs usual, Apple's biggest event of the calendar year was met with much enthusiasm. It was great to see incremental improvements, in my view, for their launches of the new iPhone, Watch and AirPods during the 7 September event.Firstly, I would highlight the pricing for all models of its iPhones remain unchanged. In my view, this is necessary given that Apple could see a shift in demand from iPhone Pro to its non-Pro models if there were a price increase. Apple's iPhone Pro mix was abnormally higher during the pandemic and an increase in prices for the iPhone 14 Pro might have risked a more drastic normalization of the iPhone mix.Apple did release other features like the Emergency SOS service that uses satellite connectivity which will be free for 2 years for all the new phones that allow for the service, as well as the Dynamic Island that is meant as a clever use of the cutout in the iPhone Pro model for showing alerts. The iPhone Pro model also has an updated 48MP quad-pixel sensor and up from the previous model's 12MP. Action mode was also launched for videos to look more smooth in videos with significant motion.Targeting the fitness and outdoor enthusiasts that currently use watches from companies like Garmin, Apple launched the Apple Ultra Watch. It is a new premium watch with a 49mm titanium case and the watch has improved multi band GPS and the new L5frequency, with a pricing of $799. Furthermore, the company eliminated the Apple Watch Series 3 while reducing the price of the Apple Watch SE by $30 to $249. This means that the most affordable Apple Watch is now the Apple Watch SE.Other upgrades include an upgrade to the AirPods Pro, with a new H2 chip that is said to have better sound quality, almost 2x better noise cancellation as well as a longer battery life of6 hours compared to the 4.5 hours in the previous version. Also, the pricing of the new AirPods Pro remains unchanged at $249.All in all, while there were incremental improvements during the event for the new iPhone, Watch and AirPods, I take the view that these will not make meaningful improvements to the company's business or growth. With the event now behind us, this also leaves one less catalyst for the Apple stock in the near term and since this event does not move the needle much, most of the upside or downside in the near term will still come from the higher or lower demand for Apple's products in the current uncertain economic environment.Early signs of demand from iPhone 14 launchWhile it may be premature to gauge how the sales of the newest iPhone 14 will be in the next year, the data from the launch can be a good leading indicator of what we can expect moving forward. Furthermore, typically the more loyal Apple fans will be the ones buying the latest model near launch date and may not be a good representation of what the true demand is going forward.An analyst from TF Securities has done the good work of analyzing and providing data on the pre-orders of Apple's newest iPhone 14 models. What he found was that for the top end model, iPhone 14 Pro Max, this surpassed the demand that was seen in the same period last year, for which the analyst rated good. The iPhone 14 Pro saw the same demand as the iPhone 13 Pro one year before and thus, was labeled as neutral. The iPhone 14 and iPhone 14 plus were rated a bad rating.I think what this means is that we will see a shift in the mix towards the higher end model and thus a higher average selling price given the strong numbers for the iPhone 14 Pro Max. Furthermore, it does imply that the higher end consumers continue to be willing to spend and that iPhone 14 Pro Max's features and upgrades are the most attractive relative to the other 3 models.The iPhone 14 plus had a weaker demand than that of the iPhone 13 mini launched last year, and the two models of iPhone 14 and iPhone 14 plus made up 45% of total shipments.It remains to be seen whether the relatively stronger demand for the iPhone 14 Pro Max will be sustained past the early pre-order phase as we might see demand wane if the less loyal Apple consumers may not have the same enthusiasm for the iPhone 14 Pro Max as those who made the pre-order.ValuationApple is currently trading at 24x 2023 P/E and 23x 2024 P/E. Embedded in this P/E is the pricing in of 6% growth on average in these 2 years. Even though I acknowledge Apple has one of the best businesses and competitive moats, I think that Apple still looks expensive to me at current levels.I think that Apple's premium multiple makes it difficult for me to justify investment into the company at current levels because of the risks of macro economy weakening going into 2023, bringing downside to the current 6% average growth expected over the next 2 years. Furthermore, paying 24x 2023 P/E for 6% growth rate does not make sense to me as I see better opportunities out there.I apply a 20x P/E multiple to my 2023F EPS estimate of $6.40. As such, my 1 year target price for Apple is $128, implying 17% downside from current levels. While I have not priced in a recession scenario in my EPS estimates for 2023F, I think that my estimates are relatively de-risked from that of Wall Street and my lower P/E multiple takes into account the higher risk we are seeing today with regard to the weakening macro situation.RisksMacroeconomic environmentWhile it can be argued that Apple has the most loyal fans, the uncertainty around the global macroeconomic environment now means that there are heightened risks that demand could fade if the economy makes a turn for the worse. I think that the main risk for Apple right now both for the upside and the downside is how demand plays out in the near-term. If demand holds up better than expected, we could see further upside in the stock price. However, if the recession scenario does occur and demand falls, there could be substantial downside to come.Market share loss in high end smartphone marketsWhile Apple has one of the best competitive moats in the world, sometimes, the bigger they come, the harder they may fall. As such, I think it is crucial Apple maintains this competitive advantage. If Apple is unable to maintain its competitive advantage as an ecosystem leader, other high end smartphone players may take up market share and this will negatively affect share price.ConclusionAlthough Apple's strong platform creates optionality longer term we see this as offset by a premium multiple and both macro and normalization risks to numbers heading into 2023. We believe there are better options for investors wishing to weather deteriorating macro elsewhere in our coverage.I prefer to be on the sidelines with Apple at the current levels, and maintain my neutral rating. There are warning signs for the business appearing as Tim Cook has mentioned some pockets of weakness in the business in the 2Q22 call, supply side factors driving the revenue beat in 2Q22, and iPhone 14 and iPhone 14 plus models not being well received in the pre-order stage. That said, I continue to like Apple as a business for the long-term with a great management running the show with best-in-class products and strong brand reputation. The premium valuation is not justified with the heightened risks that we are seeing going into 2023 with risks of weakening of consumer sentiment and potentially a recession. As such, I think that market has not yet priced in these risks for Apple. My 1 year target price for Apple is $128, implying 17% downside from current levels.","news_type":1},"isVote":1,"tweetType":1,"viewCount":172,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9911948452,"gmtCreate":1664127025077,"gmtModify":1676537393650,"author":{"id":"3573095860147450","authorId":"3573095860147450","name":"sanjkatt3","avatar":"https://static.tigerbbs.com/e2374af8a1e9c9a14f6435363e07d848","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/EDU\">$New Oriental Education &amp; Technology(EDU)$</a>Holding for sometime&nbsp;","listText":"<a href=\"https://ttm.financial/S/EDU\">$New Oriental Education &amp; Technology(EDU)$</a>Holding for sometime&nbsp;","text":"$New Oriental Education & Technology(EDU)$Holding for sometime","images":[{"img":"https://community-static.tradeup.com/news/d7fd638df3bce1159f1da66048ca1007","width":"1170","height":"2532"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/9911948452","isVote":1,"tweetType":1,"viewCount":292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9911047934,"gmtCreate":1664098762329,"gmtModify":1676537390526,"author":{"id":"3573095860147450","authorId":"3573095860147450","name":"sanjkatt3","avatar":"https://static.tigerbbs.com/e2374af8a1e9c9a14f6435363e07d848","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Issue","listText":"Issue","text":"Issue","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9911047934","repostId":"2269490734","repostType":4,"repost":{"id":"2269490734","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1664066508,"share":"https://www.laohu8.com/m/news/2269490734?lang=&edition=full","pubTime":"2022-09-25 08:41","market":"us","language":"en","title":"If You're Selling Stocks Because the Fed Is Hiking Interest Rates, You May Be Suffering From “Inflation Illusion”","url":"https://stock-news.laohu8.com/highlight/detail?id=2269490734","media":"Dow Jones","summary":"Forget everything you think you know about the relationship between interest rates and the stock market.Forget everything you think you know about the relationship between interest rates and the stock","content":"<html><head></head><body><p>Forget everything you think you know about the relationship between interest rates and the stock market.</p><p>Forget everything you think you know about the relationship between interest rates and the stock market. Take the notion that higher interest rates are bad for the stock market, which is almost universally believed on Wall Street. Plausible as this is, it is surprisingly difficult to support it empirically.</p><p>It would be important to challenge this notion at any time, but especially in light of the U.S. market&#39;s decline this past week following the Federal Reserve&#39;s most recent interest-rate hike announcement.</p><p>To show why higher interest rates aren&#39;t necessarily bad for equities, I compared the predictive power of the following two valuation indicators:</p><p>If higher interest rates were always bad for stocks, then the Fed Model&#39;s track record would be superior to that of the earnings yield.</p><p>It is not, as you can see from the table below. The table reports a statistic known as the r-squared, which reflects the degree to which one data series (in this case, the earnings yield or the Fed Model) predicts changes in a second series (in this case, the stock market&#39;s subsequent inflation-adjusted real return). The table reflects the U.S. stock market back to 1871, courtesy of data provided by Yale University&#39;s finance professor Robert Shiller.</p><p><img src=\"https://static.tigerbbs.com/64984acf0f40a1a5e886ef773747472a\" tg-width=\"939\" tg-height=\"268\" referrerpolicy=\"no-referrer\"/></p><p>In other words, the ability to predict the stock market&#39;s five- and 10-year returns goes down when taking interest rates into account.</p><h3>Money illusion</h3><p>These results are so surprising that it&#39;s important to explore why the conventional wisdom is wrong. That wisdom is based on the eminently plausible argument that higher interest rates mean that future years&#39; corporate earnings must be discounted at a higher rate when calculating their present value. While that argument is not wrong, Richard Warr,  a finance professor at North Carolina State University, told me, it&#39;s only half the story.</p><p>The other half of this story is that interest rates tend to be higher when inflation is higher, and average nominal earnings tend to grow faster in higher-inflation environments. Failing to appreciate this other half of the story is a fundamental mistake in economics known as &#34;inflation illusion&#34; -- confusing nominal with real, or inflation-adjusted, values.</p><p>According to research conducted by Warr, inflation&#39;s impact on nominal earnings and the discount rate largely cancel each other out over time. While earnings tend to grow faster when inflation is higher, they must be more heavily discounted when calculating their present value.</p><p>Investors were guilty of inflation illusion when they reacted to the Fed&#39;s latest interest rate announcement by selling stocks.</p><p>None of this means that the bear market shouldn&#39;t continue, or that equities aren&#39;t overvalued. Indeed, by many measures, stocks are still overvalued, despite the much cheaper prices wrought by the bear market. The point of this discussion is that higher interest rates are not an additional reason, above and beyond the other factors affecting the stock market, why the market should fall.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>If You're Selling Stocks Because the Fed Is Hiking Interest Rates, You May Be Suffering From “Inflation Illusion”</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\">\nIf You're Selling Stocks Because the Fed Is Hiking Interest Rates, You May Be Suffering From “Inflation Illusion”\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-09-25 08:41</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Forget everything you think you know about the relationship between interest rates and the stock market.</p><p>Forget everything you think you know about the relationship between interest rates and the stock market. Take the notion that higher interest rates are bad for the stock market, which is almost universally believed on Wall Street. Plausible as this is, it is surprisingly difficult to support it empirically.</p><p>It would be important to challenge this notion at any time, but especially in light of the U.S. market&#39;s decline this past week following the Federal Reserve&#39;s most recent interest-rate hike announcement.</p><p>To show why higher interest rates aren&#39;t necessarily bad for equities, I compared the predictive power of the following two valuation indicators:</p><p>If higher interest rates were always bad for stocks, then the Fed Model&#39;s track record would be superior to that of the earnings yield.</p><p>It is not, as you can see from the table below. The table reports a statistic known as the r-squared, which reflects the degree to which one data series (in this case, the earnings yield or the Fed Model) predicts changes in a second series (in this case, the stock market&#39;s subsequent inflation-adjusted real return). The table reflects the U.S. stock market back to 1871, courtesy of data provided by Yale University&#39;s finance professor Robert Shiller.</p><p><img src=\"https://static.tigerbbs.com/64984acf0f40a1a5e886ef773747472a\" tg-width=\"939\" tg-height=\"268\" referrerpolicy=\"no-referrer\"/></p><p>In other words, the ability to predict the stock market&#39;s five- and 10-year returns goes down when taking interest rates into account.</p><h3>Money illusion</h3><p>These results are so surprising that it&#39;s important to explore why the conventional wisdom is wrong. That wisdom is based on the eminently plausible argument that higher interest rates mean that future years&#39; corporate earnings must be discounted at a higher rate when calculating their present value. While that argument is not wrong, Richard Warr,  a finance professor at North Carolina State University, told me, it&#39;s only half the story.</p><p>The other half of this story is that interest rates tend to be higher when inflation is higher, and average nominal earnings tend to grow faster in higher-inflation environments. Failing to appreciate this other half of the story is a fundamental mistake in economics known as &#34;inflation illusion&#34; -- confusing nominal with real, or inflation-adjusted, values.</p><p>According to research conducted by Warr, inflation&#39;s impact on nominal earnings and the discount rate largely cancel each other out over time. While earnings tend to grow faster when inflation is higher, they must be more heavily discounted when calculating their present value.</p><p>Investors were guilty of inflation illusion when they reacted to the Fed&#39;s latest interest rate announcement by selling stocks.</p><p>None of this means that the bear market shouldn&#39;t continue, or that equities aren&#39;t overvalued. Indeed, by many measures, stocks are still overvalued, despite the much cheaper prices wrought by the bear market. The point of this discussion is that higher interest rates are not an additional reason, above and beyond the other factors affecting the stock market, why the market should fall.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2269490734","content_text":"Forget everything you think you know about the relationship between interest rates and the stock market.Forget everything you think you know about the relationship between interest rates and the stock market. Take the notion that higher interest rates are bad for the stock market, which is almost universally believed on Wall Street. Plausible as this is, it is surprisingly difficult to support it empirically.It would be important to challenge this notion at any time, but especially in light of the U.S. market's decline this past week following the Federal Reserve's most recent interest-rate hike announcement.To show why higher interest rates aren't necessarily bad for equities, I compared the predictive power of the following two valuation indicators:If higher interest rates were always bad for stocks, then the Fed Model's track record would be superior to that of the earnings yield.It is not, as you can see from the table below. The table reports a statistic known as the r-squared, which reflects the degree to which one data series (in this case, the earnings yield or the Fed Model) predicts changes in a second series (in this case, the stock market's subsequent inflation-adjusted real return). The table reflects the U.S. stock market back to 1871, courtesy of data provided by Yale University's finance professor Robert Shiller.In other words, the ability to predict the stock market's five- and 10-year returns goes down when taking interest rates into account.Money illusionThese results are so surprising that it's important to explore why the conventional wisdom is wrong. That wisdom is based on the eminently plausible argument that higher interest rates mean that future years' corporate earnings must be discounted at a higher rate when calculating their present value. While that argument is not wrong, Richard Warr,  a finance professor at North Carolina State University, told me, it's only half the story.The other half of this story is that interest rates tend to be higher when inflation is higher, and average nominal earnings tend to grow faster in higher-inflation environments. Failing to appreciate this other half of the story is a fundamental mistake in economics known as \"inflation illusion\" -- confusing nominal with real, or inflation-adjusted, values.According to research conducted by Warr, inflation's impact on nominal earnings and the discount rate largely cancel each other out over time. While earnings tend to grow faster when inflation is higher, they must be more heavily discounted when calculating their present value.Investors were guilty of inflation illusion when they reacted to the Fed's latest interest rate announcement by selling stocks.None of this means that the bear market shouldn't continue, or that equities aren't overvalued. Indeed, by many measures, stocks are still overvalued, despite the much cheaper prices wrought by the bear market. The point of this discussion is that higher interest rates are not an additional reason, above and beyond the other factors affecting the stock market, why the market should fall.","news_type":1},"isVote":1,"tweetType":1,"viewCount":109,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9913195142,"gmtCreate":1663931223587,"gmtModify":1676537365597,"author":{"id":"3573095860147450","authorId":"3573095860147450","name":"sanjkatt3","avatar":"https://static.tigerbbs.com/e2374af8a1e9c9a14f6435363e07d848","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"It's allle anyway","listText":"It's allle anyway","text":"It's allle anyway","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9913195142","repostId":"1143184962","repostType":4,"repost":{"id":"1143184962","pubTimestamp":1663946413,"share":"https://www.laohu8.com/m/news/1143184962?lang=&edition=full","pubTime":"2022-09-23 23:20","market":"us","language":"en","title":"Apple: A Word Of Caution From Tim Cook And iPhone 14 Pre-Orders","url":"https://stock-news.laohu8.com/highlight/detail?id=1143184962","media":"Seeking Alpha","summary":"SummaryA revenue beat from 3Q22 results came from better than expected supply side factors rather th","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>A revenue beat from 3Q22 results came from better than expected supply side factors rather than from the demand side.</li><li>Tim Cook did not see any impact on demand for iPhones so far, although there were pockets of weakness in other parts of the business due to macroeconomic impacts.</li><li>There were incremental improvements made for the iPhone, AirPods and Apple Watch in the September 7 event.</li><li>Early data from pre-orders of the new iPhone 14 shows weakness in some models while the iPhone 14 Pro Max demand was strong.</li><li>My 1 year target price for Apple is $128, implying a 17% downside from current levels.</li></ul><p>Apple (NASDAQ:AAPL)has held the status as the most valuable company in the world for some time now and for good reasons. I have written about the positives as well as the negatives for the investment case for and against Apple in my previous article. In this article, I look for early warning signs that demand for Apple products may be less than expected as the global economy starts to weaken.</p><p><b>Investment thesis</b></p><p>While I continue to see Apple as an excellent company with great products and a strong brand with strong competitive moats, I do think that the current price levels are not the right levels for investors to add to Apple. The premium multiple it is commanding today comes with a high level of risk as the market is pricing in mid single digit EPS growth in the next 2 years. With the heightened risk of slowing of the macroeconomic environment and potentially a recession, demand for Apple&#39;s products could start to wane as consumers become more sensitive in their spending.</p><p>As such, I think that the current premium multiple is not warranted given the possibility of further downward revisions to the mid single digit EPS that is priced in today. Even with the competitive moat that Apple has today, with a hefty price tag of 24x 2023 P/E with 6% EPS growth from 2023 to 2024, I think that there could be more downside to come for Apple.</p><p><b>3Q22 revenue beat came from supply side</b></p><p>In the current 3Q22 quarter, the company posted a revenue beat of $2.8 billion. Given that management guided that they expect a supply chain impact of about $4 billion to $8 billion for the current quarter, the approximately $3.5 billion in supply chain impact brought a positive impact of about $2.5 billion to the average of $6 billion supply chain impacts that would be expected for the quarter. As a result, the revenue beat did come from better than expected supply side factors, which is of course, positive news given that supply chain issues have been a major constraint for some of its products.</p><p>That said, I take a more cautious view on the demand side of things for Apple until I start to see demand driving the beat. I would look at the sales of the newest iPhone 14 models to gauge for demand since, as highlighted in my previous article, the iPhone takes up more than50%of Apple&#39;s total revenues.</p><p><b>Weak guidance</b></p><p>Although Apple does not usually give a specific numeric guidance, the fourth quarter guidance was less clear than normally provided. In terms of how the macroeconomic environment and higher inflation is affecting the business, I think that it is encouraging that management cleared the air that for the iPhone in particular, there were no obvious signs that macroeconomic factors were affecting the business.</p><p>However, it is also worth pointing out that CEO Tim Cook did acknowledge pockets of weakness in Wearables and Services as these businesses seem to be experiencing the impacts of weakening macroeconomic environment. Mac and iPad were constrained by supply which were not enough to test the demand. Also, there are headwinds coming from the foreign exchange as there were 300 basis points that had an impact on growth rates in the current quarter coming from these FX headwinds.</p><p>All in all, while there are pockets of weakness, I think that it is not all doom for Apple as consumer demand for the iPhone still looks to be holding up. Should there be any signs of weakness in demand for the iPhone 14, I think that this may spell near-term trouble for the company. However, I think management is currently being cautious about expectations rather than management signaling that consumer demand is waning. Furthermore, I think that the uncertain global environment does make it relatively more difficult for a clearer guidance.</p><p><b>Apple&#39;s 7 Sept event</b></p><p>As usual, Apple&#39;s biggest event of the calendar year was met with much enthusiasm. It was great to see incremental improvements, in my view, for their launches of the new iPhone, Watch and AirPods during the 7 September event.</p><p>Firstly, I would highlight the pricing for all models of its iPhones remain unchanged. In my view, this is necessary given that Apple could see a shift in demand from iPhone Pro to its non-Pro models if there were a price increase. Apple&#39;s iPhone Pro mix was abnormally higher during the pandemic and an increase in prices for the iPhone 14 Pro might have risked a more drastic normalization of the iPhone mix.</p><p>Apple did release other features like the Emergency SOS service that uses satellite connectivity which will be free for 2 years for all the new phones that allow for the service, as well as the Dynamic Island that is meant as a clever use of the cutout in the iPhone Pro model for showing alerts. The iPhone Pro model also has an updated 48MP quad-pixel sensor and up from the previous model&#39;s 12MP. Action mode was also launched for videos to look more smooth in videos with significant motion.</p><p>Targeting the fitness and outdoor enthusiasts that currently use watches from companies like Garmin, Apple launched the Apple Ultra Watch. It is a new premium watch with a 49mm titanium case and the watch has improved multi band GPS and the new L5frequency, with a pricing of $799. Furthermore, the company eliminated the Apple Watch Series 3 while reducing the price of the Apple Watch SE by $30 to $249. This means that the most affordable Apple Watch is now the Apple Watch SE.</p><p>Other upgrades include an upgrade to the AirPods Pro, with a new H2 chip that is said to have better sound quality, almost 2x better noise cancellation as well as a longer battery life of6 hours compared to the 4.5 hours in the previous version. Also, the pricing of the new AirPods Pro remains unchanged at $249.</p><p>All in all, while there were incremental improvements during the event for the new iPhone, Watch and AirPods, I take the view that these will not make meaningful improvements to the company&#39;s business or growth. With the event now behind us, this also leaves one less catalyst for the Apple stock in the near term and since this event does not move the needle much, most of the upside or downside in the near term will still come from the higher or lower demand for Apple&#39;s products in the current uncertain economic environment.</p><p><b>Early signs of demand from iPhone 14 launch</b></p><p>While it may be premature to gauge how the sales of the newest iPhone 14 will be in the next year, the data from the launch can be a good leading indicator of what we can expect moving forward. Furthermore, typically the more loyal Apple fans will be the ones buying the latest model near launch date and may not be a good representation of what the true demand is going forward.</p><p>An analyst from TF Securities has done the good work of analyzing and providing data on the pre-orders of Apple&#39;s newest iPhone 14 models. What he found was that for the top end model, iPhone 14 Pro Max, this surpassed the demand that was seen in the same period last year, for which the analyst rated good. The iPhone 14 Pro saw the same demand as the iPhone 13 Pro one year before and thus, was labeled as neutral. The iPhone 14 and iPhone 14 plus were rated a bad rating.</p><p>I think what this means is that we will see a shift in the mix towards the higher end model and thus a higher average selling price given the strong numbers for the iPhone 14 Pro Max. Furthermore, it does imply that the higher end consumers continue to be willing to spend and that iPhone 14 Pro Max&#39;s features and upgrades are the most attractive relative to the other 3 models.</p><p>The iPhone 14 plus had a weaker demand than that of the iPhone 13 mini launched last year, and the two models of iPhone 14 and iPhone 14 plus made up 45% of total shipments.</p><p>It remains to be seen whether the relatively stronger demand for the iPhone 14 Pro Max will be sustained past the early pre-order phase as we might see demand wane if the less loyal Apple consumers may not have the same enthusiasm for the iPhone 14 Pro Max as those who made the pre-order.</p><p><b>Valuation</b></p><p>Apple is currently trading at 24x 2023 P/E and 23x 2024 P/E. Embedded in this P/E is the pricing in of 6% growth on average in these 2 years. Even though I acknowledge Apple has one of the best businesses and competitive moats, I think that Apple still looks expensive to me at current levels.</p><p>I think that Apple&#39;s premium multiple makes it difficult for me to justify investment into the company at current levels because of the risks of macro economy weakening going into 2023, bringing downside to the current 6% average growth expected over the next 2 years. Furthermore, paying 24x 2023 P/E for 6% growth rate does not make sense to me as I see better opportunities out there.</p><p>I apply a 20x P/E multiple to my 2023F EPS estimate of $6.40. As such, my 1 year target price for Apple is $128, implying 17% downside from current levels. While I have not priced in a recession scenario in my EPS estimates for 2023F, I think that my estimates are relatively de-risked from that of Wall Street and my lower P/E multiple takes into account the higher risk we are seeing today with regard to the weakening macro situation.</p><p><b>Risks</b></p><p>Macroeconomic environment</p><p>While it can be argued that Apple has the most loyal fans, the uncertainty around the global macroeconomic environment now means that there are heightened risks that demand could fade if the economy makes a turn for the worse. I think that the main risk for Apple right now both for the upside and the downside is how demand plays out in the near-term. If demand holds up better than expected, we could see further upside in the stock price. However, if the recession scenario does occur and demand falls, there could be substantial downside to come.</p><p>Market share loss in high end smartphone markets</p><p>While Apple has one of the best competitive moats in the world, sometimes, the bigger they come, the harder they may fall. As such, I think it is crucial Apple maintains this competitive advantage. If Apple is unable to maintain its competitive advantage as an ecosystem leader, other high end smartphone players may take up market share and this will negatively affect share price.</p><p><b>Conclusion</b></p><p>Although Apple&#39;s strong platform creates optionality longer term we see this as offset by a premium multiple and both macro and normalization risks to numbers heading into 2023. We believe there are better options for investors wishing to weather deteriorating macro elsewhere in our coverage.</p><p>I prefer to be on the sidelines with Apple at the current levels, and maintain my neutral rating. There are warning signs for the business appearing as Tim Cook has mentioned some pockets of weakness in the business in the 2Q22 call, supply side factors driving the revenue beat in 2Q22, and iPhone 14 and iPhone 14 plus models not being well received in the pre-order stage. That said, I continue to like Apple as a business for the long-term with a great management running the show with best-in-class products and strong brand reputation. The premium valuation is not justified with the heightened risks that we are seeing going into 2023 with risks of weakening of consumer sentiment and potentially a recession. As such, I think that market has not yet priced in these risks for Apple. My 1 year target price for Apple is $128, implying 17% downside from current levels.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple: A Word Of Caution From Tim Cook And iPhone 14 Pre-Orders</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\">\nApple: A Word Of Caution From Tim Cook And iPhone 14 Pre-Orders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-23 23:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4542569-apple-a-word-of-caution-from-tim-cook-and-iphone-14-pre-orders?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A7><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryA revenue beat from 3Q22 results came from better than expected supply side factors rather than from the demand side.Tim Cook did not see any impact on demand for iPhones so far, although there...</p>\n\n<a href=\"https://seekingalpha.com/article/4542569-apple-a-word-of-caution-from-tim-cook-and-iphone-14-pre-orders?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A7\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4542569-apple-a-word-of-caution-from-tim-cook-and-iphone-14-pre-orders?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A7","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143184962","content_text":"SummaryA revenue beat from 3Q22 results came from better than expected supply side factors rather than from the demand side.Tim Cook did not see any impact on demand for iPhones so far, although there were pockets of weakness in other parts of the business due to macroeconomic impacts.There were incremental improvements made for the iPhone, AirPods and Apple Watch in the September 7 event.Early data from pre-orders of the new iPhone 14 shows weakness in some models while the iPhone 14 Pro Max demand was strong.My 1 year target price for Apple is $128, implying a 17% downside from current levels.Apple (NASDAQ:AAPL)has held the status as the most valuable company in the world for some time now and for good reasons. I have written about the positives as well as the negatives for the investment case for and against Apple in my previous article. In this article, I look for early warning signs that demand for Apple products may be less than expected as the global economy starts to weaken.Investment thesisWhile I continue to see Apple as an excellent company with great products and a strong brand with strong competitive moats, I do think that the current price levels are not the right levels for investors to add to Apple. The premium multiple it is commanding today comes with a high level of risk as the market is pricing in mid single digit EPS growth in the next 2 years. With the heightened risk of slowing of the macroeconomic environment and potentially a recession, demand for Apple's products could start to wane as consumers become more sensitive in their spending.As such, I think that the current premium multiple is not warranted given the possibility of further downward revisions to the mid single digit EPS that is priced in today. Even with the competitive moat that Apple has today, with a hefty price tag of 24x 2023 P/E with 6% EPS growth from 2023 to 2024, I think that there could be more downside to come for Apple.3Q22 revenue beat came from supply sideIn the current 3Q22 quarter, the company posted a revenue beat of $2.8 billion. Given that management guided that they expect a supply chain impact of about $4 billion to $8 billion for the current quarter, the approximately $3.5 billion in supply chain impact brought a positive impact of about $2.5 billion to the average of $6 billion supply chain impacts that would be expected for the quarter. As a result, the revenue beat did come from better than expected supply side factors, which is of course, positive news given that supply chain issues have been a major constraint for some of its products.That said, I take a more cautious view on the demand side of things for Apple until I start to see demand driving the beat. I would look at the sales of the newest iPhone 14 models to gauge for demand since, as highlighted in my previous article, the iPhone takes up more than50%of Apple's total revenues.Weak guidanceAlthough Apple does not usually give a specific numeric guidance, the fourth quarter guidance was less clear than normally provided. In terms of how the macroeconomic environment and higher inflation is affecting the business, I think that it is encouraging that management cleared the air that for the iPhone in particular, there were no obvious signs that macroeconomic factors were affecting the business.However, it is also worth pointing out that CEO Tim Cook did acknowledge pockets of weakness in Wearables and Services as these businesses seem to be experiencing the impacts of weakening macroeconomic environment. Mac and iPad were constrained by supply which were not enough to test the demand. Also, there are headwinds coming from the foreign exchange as there were 300 basis points that had an impact on growth rates in the current quarter coming from these FX headwinds.All in all, while there are pockets of weakness, I think that it is not all doom for Apple as consumer demand for the iPhone still looks to be holding up. Should there be any signs of weakness in demand for the iPhone 14, I think that this may spell near-term trouble for the company. However, I think management is currently being cautious about expectations rather than management signaling that consumer demand is waning. Furthermore, I think that the uncertain global environment does make it relatively more difficult for a clearer guidance.Apple's 7 Sept eventAs usual, Apple's biggest event of the calendar year was met with much enthusiasm. It was great to see incremental improvements, in my view, for their launches of the new iPhone, Watch and AirPods during the 7 September event.Firstly, I would highlight the pricing for all models of its iPhones remain unchanged. In my view, this is necessary given that Apple could see a shift in demand from iPhone Pro to its non-Pro models if there were a price increase. Apple's iPhone Pro mix was abnormally higher during the pandemic and an increase in prices for the iPhone 14 Pro might have risked a more drastic normalization of the iPhone mix.Apple did release other features like the Emergency SOS service that uses satellite connectivity which will be free for 2 years for all the new phones that allow for the service, as well as the Dynamic Island that is meant as a clever use of the cutout in the iPhone Pro model for showing alerts. The iPhone Pro model also has an updated 48MP quad-pixel sensor and up from the previous model's 12MP. Action mode was also launched for videos to look more smooth in videos with significant motion.Targeting the fitness and outdoor enthusiasts that currently use watches from companies like Garmin, Apple launched the Apple Ultra Watch. It is a new premium watch with a 49mm titanium case and the watch has improved multi band GPS and the new L5frequency, with a pricing of $799. Furthermore, the company eliminated the Apple Watch Series 3 while reducing the price of the Apple Watch SE by $30 to $249. This means that the most affordable Apple Watch is now the Apple Watch SE.Other upgrades include an upgrade to the AirPods Pro, with a new H2 chip that is said to have better sound quality, almost 2x better noise cancellation as well as a longer battery life of6 hours compared to the 4.5 hours in the previous version. Also, the pricing of the new AirPods Pro remains unchanged at $249.All in all, while there were incremental improvements during the event for the new iPhone, Watch and AirPods, I take the view that these will not make meaningful improvements to the company's business or growth. With the event now behind us, this also leaves one less catalyst for the Apple stock in the near term and since this event does not move the needle much, most of the upside or downside in the near term will still come from the higher or lower demand for Apple's products in the current uncertain economic environment.Early signs of demand from iPhone 14 launchWhile it may be premature to gauge how the sales of the newest iPhone 14 will be in the next year, the data from the launch can be a good leading indicator of what we can expect moving forward. Furthermore, typically the more loyal Apple fans will be the ones buying the latest model near launch date and may not be a good representation of what the true demand is going forward.An analyst from TF Securities has done the good work of analyzing and providing data on the pre-orders of Apple's newest iPhone 14 models. What he found was that for the top end model, iPhone 14 Pro Max, this surpassed the demand that was seen in the same period last year, for which the analyst rated good. The iPhone 14 Pro saw the same demand as the iPhone 13 Pro one year before and thus, was labeled as neutral. The iPhone 14 and iPhone 14 plus were rated a bad rating.I think what this means is that we will see a shift in the mix towards the higher end model and thus a higher average selling price given the strong numbers for the iPhone 14 Pro Max. Furthermore, it does imply that the higher end consumers continue to be willing to spend and that iPhone 14 Pro Max's features and upgrades are the most attractive relative to the other 3 models.The iPhone 14 plus had a weaker demand than that of the iPhone 13 mini launched last year, and the two models of iPhone 14 and iPhone 14 plus made up 45% of total shipments.It remains to be seen whether the relatively stronger demand for the iPhone 14 Pro Max will be sustained past the early pre-order phase as we might see demand wane if the less loyal Apple consumers may not have the same enthusiasm for the iPhone 14 Pro Max as those who made the pre-order.ValuationApple is currently trading at 24x 2023 P/E and 23x 2024 P/E. Embedded in this P/E is the pricing in of 6% growth on average in these 2 years. Even though I acknowledge Apple has one of the best businesses and competitive moats, I think that Apple still looks expensive to me at current levels.I think that Apple's premium multiple makes it difficult for me to justify investment into the company at current levels because of the risks of macro economy weakening going into 2023, bringing downside to the current 6% average growth expected over the next 2 years. Furthermore, paying 24x 2023 P/E for 6% growth rate does not make sense to me as I see better opportunities out there.I apply a 20x P/E multiple to my 2023F EPS estimate of $6.40. As such, my 1 year target price for Apple is $128, implying 17% downside from current levels. While I have not priced in a recession scenario in my EPS estimates for 2023F, I think that my estimates are relatively de-risked from that of Wall Street and my lower P/E multiple takes into account the higher risk we are seeing today with regard to the weakening macro situation.RisksMacroeconomic environmentWhile it can be argued that Apple has the most loyal fans, the uncertainty around the global macroeconomic environment now means that there are heightened risks that demand could fade if the economy makes a turn for the worse. I think that the main risk for Apple right now both for the upside and the downside is how demand plays out in the near-term. If demand holds up better than expected, we could see further upside in the stock price. However, if the recession scenario does occur and demand falls, there could be substantial downside to come.Market share loss in high end smartphone marketsWhile Apple has one of the best competitive moats in the world, sometimes, the bigger they come, the harder they may fall. As such, I think it is crucial Apple maintains this competitive advantage. If Apple is unable to maintain its competitive advantage as an ecosystem leader, other high end smartphone players may take up market share and this will negatively affect share price.ConclusionAlthough Apple's strong platform creates optionality longer term we see this as offset by a premium multiple and both macro and normalization risks to numbers heading into 2023. We believe there are better options for investors wishing to weather deteriorating macro elsewhere in our coverage.I prefer to be on the sidelines with Apple at the current levels, and maintain my neutral rating. There are warning signs for the business appearing as Tim Cook has mentioned some pockets of weakness in the business in the 2Q22 call, supply side factors driving the revenue beat in 2Q22, and iPhone 14 and iPhone 14 plus models not being well received in the pre-order stage. That said, I continue to like Apple as a business for the long-term with a great management running the show with best-in-class products and strong brand reputation. The premium valuation is not justified with the heightened risks that we are seeing going into 2023 with risks of weakening of consumer sentiment and potentially a recession. As such, I think that market has not yet priced in these risks for Apple. My 1 year target price for Apple is $128, implying 17% downside from current levels.","news_type":1},"isVote":1,"tweetType":1,"viewCount":172,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9913116513,"gmtCreate":1663936184432,"gmtModify":1676537366273,"author":{"id":"3573095860147450","authorId":"3573095860147450","name":"sanjkatt3","avatar":"https://static.tigerbbs.com/e2374af8a1e9c9a14f6435363e07d848","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Competition is tough.&nbsp;","listText":"Competition is tough.&nbsp;","text":"Competition is tough.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9913116513","repostId":"1161118776","repostType":4,"repost":{"id":"1161118776","pubTimestamp":1663931856,"share":"https://www.laohu8.com/m/news/1161118776?lang=&edition=full","pubTime":"2022-09-23 19:17","market":"us","language":"en","title":"Alibaba Slips As It Says It Will Invest $1B Over Next Three Years to Boost Cloud Customers","url":"https://stock-news.laohu8.com/highlight/detail?id=1161118776","media":"Seeking Alpha","summary":"Alibaba (NYSE:BABA) shares slipped on Friday after it said it would invest up to $1B over the next t","content":"<html><head></head><body><p>Alibaba (NYSE:BABA) shares slipped on Friday after it said it would invest up to $1B over the next three years &#34; for a global partner ecosystem upgrade&#34; and give support to its cloud computing customers in an effort to boost growth.</p><p>In a statement released late on Thursday, the Chinese tech giant said the investment would be comprised of &#34;both financial and non-financial incentives, such as funding, rebates and go-to-market initiatives.&#34;</p><p>Alibaba (BABA) also said that it would its cloud unit, the fourth largest in the world behind Amazon (AMZN), Microsoft (MSFT) and Google (GOOG) (GOOGL) according to Dgtl Infra, would launch an accelerator program that helps its partners scale in different markets with a localized business model.</p><p>&#34;Our revamped partner strategy prioritizes our partners&#39; growth,&#34; said Selina Yuan, Alibaba Cloud Intelligence International President, in the statement. &#34;By continuing to support our partners&#39; business expansion, we can build an inclusive ecosystem benefiting partners and customers.&#34;</p><p>Alibaba (BABA) shares fell 1.5% to $79.41 in premarket trading.</p><p>In its most recent quarter, Alibaba (BABA) generated flat revenue growth of $30.69B, including a 10% year-over-year growth in its cloud unit.</p><p>Last month, Alibaba (BABA) said it had cut its employee headcount by 10,000 amid weaker consumer spending and economic headwinds in China and across the globe.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba Slips As It Says It Will Invest $1B Over Next Three Years to Boost Cloud Customers</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\">\nAlibaba Slips As It Says It Will Invest $1B Over Next Three Years to Boost Cloud Customers\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-23 19:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3885564-alibaba-slips-as-it-says-it-will-invest-1b-over-next-three-years-to-boost-cloud-customers><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Alibaba (NYSE:BABA) shares slipped on Friday after it said it would invest up to $1B over the next three years \" for a global partner ecosystem upgrade\" and give support to its cloud computing ...</p>\n\n<a href=\"https://seekingalpha.com/news/3885564-alibaba-slips-as-it-says-it-will-invest-1b-over-next-three-years-to-boost-cloud-customers\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/news/3885564-alibaba-slips-as-it-says-it-will-invest-1b-over-next-three-years-to-boost-cloud-customers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161118776","content_text":"Alibaba (NYSE:BABA) shares slipped on Friday after it said it would invest up to $1B over the next three years \" for a global partner ecosystem upgrade\" and give support to its cloud computing customers in an effort to boost growth.In a statement released late on Thursday, the Chinese tech giant said the investment would be comprised of \"both financial and non-financial incentives, such as funding, rebates and go-to-market initiatives.\"Alibaba (BABA) also said that it would its cloud unit, the fourth largest in the world behind Amazon (AMZN), Microsoft (MSFT) and Google (GOOG) (GOOGL) according to Dgtl Infra, would launch an accelerator program that helps its partners scale in different markets with a localized business model.\"Our revamped partner strategy prioritizes our partners' growth,\" said Selina Yuan, Alibaba Cloud Intelligence International President, in the statement. \"By continuing to support our partners' business expansion, we can build an inclusive ecosystem benefiting partners and customers.\"Alibaba (BABA) shares fell 1.5% to $79.41 in premarket trading.In its most recent quarter, Alibaba (BABA) generated flat revenue growth of $30.69B, including a 10% year-over-year growth in its cloud unit.Last month, Alibaba (BABA) said it had cut its employee headcount by 10,000 amid weaker consumer spending and economic headwinds in China and across the globe.","news_type":1},"isVote":1,"tweetType":1,"viewCount":98,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9913118413,"gmtCreate":1663935987432,"gmtModify":1676537366242,"author":{"id":"3573095860147450","authorId":"3573095860147450","name":"sanjkatt3","avatar":"https://static.tigerbbs.com/e2374af8a1e9c9a14f6435363e07d848","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Not good sign","listText":"Not good sign","text":"Not good sign","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9913118413","repostId":"1146407106","repostType":4,"repost":{"id":"1146407106","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1663933947,"share":"https://www.laohu8.com/m/news/1146407106?lang=&edition=full","pubTime":"2022-09-23 19:52","market":"us","language":"en","title":"Pre-Bell｜All of U.S. Stock Futures Crashed Over 1%; This Supermarket Stock Fell Over 3%","url":"https://stock-news.laohu8.com/highlight/detail?id=1146407106","media":"Tiger Newspress","summary":"U.S. stock futures were lower on Friday to close out another losing week as investors fear the Feder","content":"<html><head></head><body><p>U.S. stock futures were lower on Friday to close out another losing week as investors fear the Federal Reserve’s aggressive hiking campaign to fight inflation will lead to an economic downturn.</p><p><b>Market Snapshot</b></p><p>At 7:50 a.m. ET, Dow e-minis were down 356 points, or 1.18%, S&amp;P 500 e-minis were down 49.5 points, or 1.31%, and Nasdaq 100 e-minis were down 164.75 points, or 1.42%.</p><p><img src=\"https://static.tigerbbs.com/9eeb14f6e512c0bff9a0efe6d9aeb977\" tg-width=\"265\" tg-height=\"131\" width=\"100%\" height=\"auto\"/></p><p><b>Pre-Market Movers</b></p><p><b><a href=\"https://laohu8.com/S/FDX\">FedEx</a></b> – FedEx remains on watch this morning after announcing a 6.9% increase in shipping rates and plans to cut another $4 billion in annual costs. FedEx fell 3.2% in the premarket.</p><p><b><a href=\"https://laohu8.com/S/COST\">Costco</a></b> – Costco lost 3.3% in the premarket despite reporting better-than-expected profit and sales for its latest quarter. The company reported operating margins that were slightly below consensus. Costco said it has no immediate plans to raise membership prices, but said it would happen at some point.</p><p><b><a href=\"https://laohu8.com/S/BA\">Boeing</a></b> – Boeing will pay $200 million to settle SEC charges that it made misleading claims about the safety risks of its 737 MAX jet after two of the planes were involved in fatal crashes. Former CEO Dennis Muilenburg will pay $1 million as part of the settlement, with both parties neither admitting nor denying wrongdoing. Boeing lost 1.8% in the premarket.</p><p><b><a href=\"https://laohu8.com/S/RTX\">Raytheon Technologies Corporation</a></b> – Raytheon won a $985 million Pentagon contract to develop hypersonic attack cruise missile prototypes, beating out rivals Boeing and Lockheed Martin(LMT).</p><p><b><a href=\"https://laohu8.com/S/CAMP\">CalAmp</a></b> – The “internet of things” software company’s stock rallied 3.5% in premarket action after it reported a smaller-than-expected quarterly loss with revenue that topped analyst forecasts. CalAmp saw record software and subscription services revenue during the quarter.</p><p><b><a href=\"https://laohu8.com/S/ALLY\">Ally</a></b> – The financial services company’s stock fell 2.7% in the premarket after Wells Fargo downgraded it to “equal weight” from “overweight”. Wells said Ally will feel pressure from Fed rate hikes and an accelerating decline in used vehicle prices, which impacts yields from leases.</p><p><b><a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a></b> – Qualcomm said its future automotive business pipeline increased to $30 billion in orders, up by more than $10 billion since July. The increase came primarily from orders for its Snapdragon Digital Chassis computer chip. Qualcomm, however, fell 2% in premarket action.</p><p><b><a href=\"https://laohu8.com/S/FUBO\">fuboTV Inc.</a></b> – The sports-focused streaming service was upgraded to “outperform” from “neutral” at Wedbush, which sees the stock at a compelling entry point. Wedbush expressed confidence that fuboTV can successfully raise capital and cut its cash burn rate. The stock gained 2% in the premarket.</p><p><b>Market News</b></p><p>&#34;Electric vehicles are the key technology to decarbonize road transport, a sector that accounts for 16% of global emissions,&#34; according to theIEA’sreport. &#34;The Net Zero Emissions by 2050 Scenario sees an electric car fleet of over 300M in 2030 and electric cars accounting for 60% of new car sales.&#34;</p><p><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a></b> released a software update aimed at fixing bugs found in early iPhone 14 units, including a problem that made the device’s camera shake when used with some apps.</p><p><b><a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a></b> on Thursday said its automotive business &#34;pipeline&#34; increased to $30 billion, up more than $10 billion since its third quarter results were announced in late July.</p><p><b><a href=\"https://laohu8.com/S/CS\">Credit Suisse Group AG</a></b> denied it’s exiting the US market following a Reuters report that the Swiss bank was mulling such a withdrawal for its investment bank.</p><p>The Pentagon on Thursday said it awarded <b><a href=\"https://laohu8.com/S/RTX\">Raytheon Technologies Corporation</a> </b>a $985 million dollar contract to develop prototypes for a hypersonic attack cruise missile, putting the firm well ahead of rivals in the race to become lead developer of the strategic weapons.</p><p><b><a href=\"https://laohu8.com/S/BA\">Boeing</a></b> will pay $200 million to settle a Securities and Exchange Commission investigation into allegedly misleading statements the company and then-Chief Executive Dennis Muilenburg made about the 737 MAX jets that crashed in Indonesia and Ethiopia, regulators said.</p><p><b><a href=\"https://laohu8.com/S/FDX\">FedEx</a></b> on Thursday outlined cost cuts of up to $2.7 billion from parking planes, suspending some Sunday deliveries and shuttering corporate offices after falling demand hammered first-quarter profits.</p><p><b><a href=\"https://laohu8.com/S/COST\">Costco</a></b>’s gross margins for the reported quarter were squeezed as it battles higher freight and labor costs due to rising inflation and global supply chain snags, total revenue rose 15% to $72.10 billion in the fourth quarter.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Pre-Bell｜All of U.S. Stock Futures Crashed Over 1%; This Supermarket Stock Fell Over 3%</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\">\nPre-Bell｜All of U.S. Stock Futures Crashed Over 1%; This Supermarket Stock Fell Over 3%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-09-23 19:52</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stock futures were lower on Friday to close out another losing week as investors fear the Federal Reserve’s aggressive hiking campaign to fight inflation will lead to an economic downturn.</p><p><b>Market Snapshot</b></p><p>At 7:50 a.m. ET, Dow e-minis were down 356 points, or 1.18%, S&amp;P 500 e-minis were down 49.5 points, or 1.31%, and Nasdaq 100 e-minis were down 164.75 points, or 1.42%.</p><p><img src=\"https://static.tigerbbs.com/9eeb14f6e512c0bff9a0efe6d9aeb977\" tg-width=\"265\" tg-height=\"131\" width=\"100%\" height=\"auto\"/></p><p><b>Pre-Market Movers</b></p><p><b><a href=\"https://laohu8.com/S/FDX\">FedEx</a></b> – FedEx remains on watch this morning after announcing a 6.9% increase in shipping rates and plans to cut another $4 billion in annual costs. FedEx fell 3.2% in the premarket.</p><p><b><a href=\"https://laohu8.com/S/COST\">Costco</a></b> – Costco lost 3.3% in the premarket despite reporting better-than-expected profit and sales for its latest quarter. The company reported operating margins that were slightly below consensus. Costco said it has no immediate plans to raise membership prices, but said it would happen at some point.</p><p><b><a href=\"https://laohu8.com/S/BA\">Boeing</a></b> – Boeing will pay $200 million to settle SEC charges that it made misleading claims about the safety risks of its 737 MAX jet after two of the planes were involved in fatal crashes. Former CEO Dennis Muilenburg will pay $1 million as part of the settlement, with both parties neither admitting nor denying wrongdoing. Boeing lost 1.8% in the premarket.</p><p><b><a href=\"https://laohu8.com/S/RTX\">Raytheon Technologies Corporation</a></b> – Raytheon won a $985 million Pentagon contract to develop hypersonic attack cruise missile prototypes, beating out rivals Boeing and Lockheed Martin(LMT).</p><p><b><a href=\"https://laohu8.com/S/CAMP\">CalAmp</a></b> – The “internet of things” software company’s stock rallied 3.5% in premarket action after it reported a smaller-than-expected quarterly loss with revenue that topped analyst forecasts. CalAmp saw record software and subscription services revenue during the quarter.</p><p><b><a href=\"https://laohu8.com/S/ALLY\">Ally</a></b> – The financial services company’s stock fell 2.7% in the premarket after Wells Fargo downgraded it to “equal weight” from “overweight”. Wells said Ally will feel pressure from Fed rate hikes and an accelerating decline in used vehicle prices, which impacts yields from leases.</p><p><b><a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a></b> – Qualcomm said its future automotive business pipeline increased to $30 billion in orders, up by more than $10 billion since July. The increase came primarily from orders for its Snapdragon Digital Chassis computer chip. Qualcomm, however, fell 2% in premarket action.</p><p><b><a href=\"https://laohu8.com/S/FUBO\">fuboTV Inc.</a></b> – The sports-focused streaming service was upgraded to “outperform” from “neutral” at Wedbush, which sees the stock at a compelling entry point. Wedbush expressed confidence that fuboTV can successfully raise capital and cut its cash burn rate. The stock gained 2% in the premarket.</p><p><b>Market News</b></p><p>&#34;Electric vehicles are the key technology to decarbonize road transport, a sector that accounts for 16% of global emissions,&#34; according to theIEA’sreport. &#34;The Net Zero Emissions by 2050 Scenario sees an electric car fleet of over 300M in 2030 and electric cars accounting for 60% of new car sales.&#34;</p><p><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a></b> released a software update aimed at fixing bugs found in early iPhone 14 units, including a problem that made the device’s camera shake when used with some apps.</p><p><b><a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a></b> on Thursday said its automotive business &#34;pipeline&#34; increased to $30 billion, up more than $10 billion since its third quarter results were announced in late July.</p><p><b><a href=\"https://laohu8.com/S/CS\">Credit Suisse Group AG</a></b> denied it’s exiting the US market following a Reuters report that the Swiss bank was mulling such a withdrawal for its investment bank.</p><p>The Pentagon on Thursday said it awarded <b><a href=\"https://laohu8.com/S/RTX\">Raytheon Technologies Corporation</a> </b>a $985 million dollar contract to develop prototypes for a hypersonic attack cruise missile, putting the firm well ahead of rivals in the race to become lead developer of the strategic weapons.</p><p><b><a href=\"https://laohu8.com/S/BA\">Boeing</a></b> will pay $200 million to settle a Securities and Exchange Commission investigation into allegedly misleading statements the company and then-Chief Executive Dennis Muilenburg made about the 737 MAX jets that crashed in Indonesia and Ethiopia, regulators said.</p><p><b><a href=\"https://laohu8.com/S/FDX\">FedEx</a></b> on Thursday outlined cost cuts of up to $2.7 billion from parking planes, suspending some Sunday deliveries and shuttering corporate offices after falling demand hammered first-quarter profits.</p><p><b><a href=\"https://laohu8.com/S/COST\">Costco</a></b>’s gross margins for the reported quarter were squeezed as it battles higher freight and labor costs due to rising inflation and global supply chain snags, total revenue rose 15% to $72.10 billion in the fourth quarter.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146407106","content_text":"U.S. stock futures were lower on Friday to close out another losing week as investors fear the Federal Reserve’s aggressive hiking campaign to fight inflation will lead to an economic downturn.Market SnapshotAt 7:50 a.m. ET, Dow e-minis were down 356 points, or 1.18%, S&P 500 e-minis were down 49.5 points, or 1.31%, and Nasdaq 100 e-minis were down 164.75 points, or 1.42%.Pre-Market MoversFedEx – FedEx remains on watch this morning after announcing a 6.9% increase in shipping rates and plans to cut another $4 billion in annual costs. FedEx fell 3.2% in the premarket.Costco – Costco lost 3.3% in the premarket despite reporting better-than-expected profit and sales for its latest quarter. The company reported operating margins that were slightly below consensus. Costco said it has no immediate plans to raise membership prices, but said it would happen at some point.Boeing – Boeing will pay $200 million to settle SEC charges that it made misleading claims about the safety risks of its 737 MAX jet after two of the planes were involved in fatal crashes. Former CEO Dennis Muilenburg will pay $1 million as part of the settlement, with both parties neither admitting nor denying wrongdoing. Boeing lost 1.8% in the premarket.Raytheon Technologies Corporation – Raytheon won a $985 million Pentagon contract to develop hypersonic attack cruise missile prototypes, beating out rivals Boeing and Lockheed Martin(LMT).CalAmp – The “internet of things” software company’s stock rallied 3.5% in premarket action after it reported a smaller-than-expected quarterly loss with revenue that topped analyst forecasts. CalAmp saw record software and subscription services revenue during the quarter.Ally – The financial services company’s stock fell 2.7% in the premarket after Wells Fargo downgraded it to “equal weight” from “overweight”. Wells said Ally will feel pressure from Fed rate hikes and an accelerating decline in used vehicle prices, which impacts yields from leases.Qualcomm – Qualcomm said its future automotive business pipeline increased to $30 billion in orders, up by more than $10 billion since July. The increase came primarily from orders for its Snapdragon Digital Chassis computer chip. Qualcomm, however, fell 2% in premarket action.fuboTV Inc. – The sports-focused streaming service was upgraded to “outperform” from “neutral” at Wedbush, which sees the stock at a compelling entry point. Wedbush expressed confidence that fuboTV can successfully raise capital and cut its cash burn rate. The stock gained 2% in the premarket.Market News\"Electric vehicles are the key technology to decarbonize road transport, a sector that accounts for 16% of global emissions,\" according to theIEA’sreport. \"The Net Zero Emissions by 2050 Scenario sees an electric car fleet of over 300M in 2030 and electric cars accounting for 60% of new car sales.\"Apple released a software update aimed at fixing bugs found in early iPhone 14 units, including a problem that made the device’s camera shake when used with some apps.Qualcomm on Thursday said its automotive business \"pipeline\" increased to $30 billion, up more than $10 billion since its third quarter results were announced in late July.Credit Suisse Group AG denied it’s exiting the US market following a Reuters report that the Swiss bank was mulling such a withdrawal for its investment bank.The Pentagon on Thursday said it awarded Raytheon Technologies Corporation a $985 million dollar contract to develop prototypes for a hypersonic attack cruise missile, putting the firm well ahead of rivals in the race to become lead developer of the strategic weapons.Boeing will pay $200 million to settle a Securities and Exchange Commission investigation into allegedly misleading statements the company and then-Chief Executive Dennis Muilenburg made about the 737 MAX jets that crashed in Indonesia and Ethiopia, regulators said.FedEx on Thursday outlined cost cuts of up to $2.7 billion from parking planes, suspending some Sunday deliveries and shuttering corporate offices after falling demand hammered first-quarter profits.Costco’s gross margins for the reported quarter were squeezed as it battles higher freight and labor costs due to rising inflation and global supply chain snags, total revenue rose 15% to $72.10 billion in the fourth quarter.","news_type":1},"isVote":1,"tweetType":1,"viewCount":206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":203368660975824,"gmtCreate":1690679720865,"gmtModify":1690679723472,"author":{"id":"3573095860147450","authorId":"3573095860147450","name":"sanjkatt3","avatar":"https://static.tigerbbs.com/e2374af8a1e9c9a14f6435363e07d848","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/EDU\">$New Oriental Education &amp; Technology(EDU)$&nbsp;</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/EDU\">$New Oriental Education &amp; Technology(EDU)$&nbsp;</a><v-v data-views=\"1\"></v-v>","text":"$New Oriental Education & Technology(EDU)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/203368660975824","isVote":1,"tweetType":1,"viewCount":47,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}