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AlvintheTige

AlvintheTige

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2021-06-07

Could be a good potential...

SoftBank Fund Invests $50 Million in Black and Latinx-Led Tech Startups in a Year

2021-06-04

Agree

Alibaba: One Of The Really Cheap Bargains In This Market

2021-06-02

Solid article we have here

Where Will NIO Stock Be In 5 Years?

2021-05-25

Not sure but u need to see the company fundamentals!!

Sorry, the original content has been removed

2021-04-11

Nice

Biden Boosts Health, Education in $1.52 Trillion Budget Request

2021-04-06

Is AMD a stock to hold for long??

AMD, Salesforce, HP, Xilinx and Sanmina paid $0 in federal income taxes in 2020 despite $4.1B in combined profits

2021-04-06

That is great

Tesla: The Time Is Now

Go to Tiger App to see more news

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be a good potential...","listText":"Could be a good potential...","text":"Could be a good potential...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/115798399","repostId":"2141284371","repostType":4,"repost":{"id":"2141284371","kind":"news","pubTimestamp":1623028575,"share":"https://ttm.financial/m/news/2141284371?lang=&edition=fundamental","pubTime":"2021-06-07 09:16","market":"us","language":"en","title":"SoftBank Fund Invests $50 Million in Black and Latinx-Led Tech Startups in a Year","url":"https://stock-news.laohu8.com/highlight/detail?id=2141284371","media":"Bloomberg","summary":"(Bloomberg) -- SoftBank created the Opportunity Fund barely a week after the murder of George Floyd.","content":"<p>(Bloomberg) -- SoftBank created the Opportunity Fund barely a week after the murder of George Floyd. The firm committed to invest $100 million in companies led by underrepresented racial minorities, establishing&nbsp;the largest fund of its kind. A year later, SoftBank has already allocated half the cash and anticipates creating a second fund by year-end.</p><p>It’s far too early to tell whether the investments will be successful. 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Of those who received venture capital from 1990 to&nbsp;2016, 4.2% were Black or Hispanic, according to a Harvard Business School study.</p><p>Floyd’s death served as a catalyst for venture capitalists, as it did for racial justice protests that swept the globe. In addition to SoftBank’s fund, a new firm called Concrete Rose Capital raised $15 million to invest&nbsp;in underrepresented founders and companies that cater to minorities. Base10, the largest Black-led VC firm, said a year ago it would donate 1% of profits to racial equality organizations and outlined a new plan to Bloomberg Businessweek last month to bolster the endowments of historically Black colleges and universities.</p><p>SoftBank Investment Advisers, the division that runs the&nbsp;$100 billion Vision Fund, introduced an initiative last year to mentor&nbsp;entrepreneurs from underrepresented groups. Its program, Emerge, is an accelerator that typically targets companies at an earlier stage than the Opportunity Fund&nbsp;with investments of&nbsp;at least $150,000. Fourteen U.S.-based companies were accepted into the program last year, and SoftBank expects&nbsp;to expand the program to Europe this year.</p><p>For the second Opportunity Fund, SoftBank may tap its own coffers once again, or the Japanese firm could seek a partner.&nbsp;Nyatta, the managing partner, envisions broadening the fund’s reach, perhaps to events that extend beyond companies in its portfolio.&nbsp;“Imagine a Sun Valley conference, just with underrepresented founders,” he said, referring to the annual&nbsp;summit&nbsp;of technology and media&nbsp;A-listers in Idaho. “We want to do something really special in this space, or we won’t do anything at all.”</p><p>One company that raised cash from the Opportunity Fund is Vitable LLC, a Woodlyn, Pennsylvania-based startup providing&nbsp;home and virtual visits by medical providers. The company raised $1.6 million last year and got a bunch of valuable introductions from its new partners at SoftBank, said Vitable founder Joseph Kitonga. Those included executives from the insurance company Lemonade Inc. and the delivery startup GoPuff, which are larger companies also&nbsp;backed by&nbsp;SoftBank. And last Thursday, Kitonga spent a chunk of time on the phone getting advice on marketplace-building with <a href=\"https://laohu8.com/S/AONE\">one</a> of the fund’s founding partners, Stacy Brown-Philpot, the former chief executive officer of TaskRabbit.</p><p>Increasingly, VC firms are competing to invest in long-neglected minority-led tech businesses. Last month, Atlanta-based Collab Capital said it raised an&nbsp;inaugural fund of $50 million&nbsp;to back startups led by Black founders. The firm takes a broader definition of success than a typical VC. It will seek not just high-growth companies but also smaller ones that can generate consistent profits, said&nbsp;Barry Givens, a managing partner at the firm.</p><p>Givens&nbsp;shrugged off the threat of competition with other VCs for investments in Black-led tech startups:&nbsp;“If there’s any competition in the world I want to be having, it’s that competition.”</p>","source":"yahoofinance","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>SoftBank Fund Invests $50 Million in Black and Latinx-Led Tech Startups in a Year</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\">\nSoftBank Fund Invests $50 Million in Black and Latinx-Led Tech Startups in a Year\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-07 09:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/softbank-fund-invests-50-million-120015737.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- SoftBank created the Opportunity Fund barely a week after the murder of George Floyd. The firm committed to invest $100 million in companies led by underrepresented racial minorities, ...</p>\n\n<a href=\"https://finance.yahoo.com/news/softbank-fund-invests-50-million-120015737.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LMND":"Lemonade, Inc.","SFTBY":"软银集团","03160":"华夏日股对冲"},"source_url":"https://finance.yahoo.com/news/softbank-fund-invests-50-million-120015737.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2141284371","content_text":"(Bloomberg) -- SoftBank created the Opportunity Fund barely a week after the murder of George Floyd. The firm committed to invest $100 million in companies led by underrepresented racial minorities, establishing the largest fund of its kind. A year later, SoftBank has already allocated half the cash and anticipates creating a second fund by year-end.It’s far too early to tell whether the investments will be successful. The money is reaching about 50 young technology companies around the U.S. and giving them a chance to prove the merits of their businesses before going on to seek more capital from SoftBank or elsewhere.All of the investments are in startups founded by Black or Latinx entrepreneurs. The average check is for $1 million, and a half-dozen or so are already gearing up to raise their next round of funding. “Seed and A, that’s where you can make the most difference,” said Shu Nyatta, a managing partner at SoftBank Group International who leads the fund. “The wrong way to do it is to have a pile of money.”Historically, minority entrepreneurs have rarely had access to seed capital, let alone piles of money. Of those who received venture capital from 1990 to 2016, 4.2% were Black or Hispanic, according to a Harvard Business School study.Floyd’s death served as a catalyst for venture capitalists, as it did for racial justice protests that swept the globe. In addition to SoftBank’s fund, a new firm called Concrete Rose Capital raised $15 million to invest in underrepresented founders and companies that cater to minorities. Base10, the largest Black-led VC firm, said a year ago it would donate 1% of profits to racial equality organizations and outlined a new plan to Bloomberg Businessweek last month to bolster the endowments of historically Black colleges and universities.SoftBank Investment Advisers, the division that runs the $100 billion Vision Fund, introduced an initiative last year to mentor entrepreneurs from underrepresented groups. Its program, Emerge, is an accelerator that typically targets companies at an earlier stage than the Opportunity Fund with investments of at least $150,000. Fourteen U.S.-based companies were accepted into the program last year, and SoftBank expects to expand the program to Europe this year.For the second Opportunity Fund, SoftBank may tap its own coffers once again, or the Japanese firm could seek a partner. Nyatta, the managing partner, envisions broadening the fund’s reach, perhaps to events that extend beyond companies in its portfolio. “Imagine a Sun Valley conference, just with underrepresented founders,” he said, referring to the annual summit of technology and media A-listers in Idaho. “We want to do something really special in this space, or we won’t do anything at all.”One company that raised cash from the Opportunity Fund is Vitable LLC, a Woodlyn, Pennsylvania-based startup providing home and virtual visits by medical providers. The company raised $1.6 million last year and got a bunch of valuable introductions from its new partners at SoftBank, said Vitable founder Joseph Kitonga. Those included executives from the insurance company Lemonade Inc. and the delivery startup GoPuff, which are larger companies also backed by SoftBank. And last Thursday, Kitonga spent a chunk of time on the phone getting advice on marketplace-building with one of the fund’s founding partners, Stacy Brown-Philpot, the former chief executive officer of TaskRabbit.Increasingly, VC firms are competing to invest in long-neglected minority-led tech businesses. Last month, Atlanta-based Collab Capital said it raised an inaugural fund of $50 million to back startups led by Black founders. The firm takes a broader definition of success than a typical VC. It will seek not just high-growth companies but also smaller ones that can generate consistent profits, said Barry Givens, a managing partner at the firm.Givens shrugged off the threat of competition with other VCs for investments in Black-led tech startups: “If there’s any competition in the world I want to be having, it’s that competition.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":481,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":118423335,"gmtCreate":1622756649927,"gmtModify":1704190423515,"author":{"id":"3573650696942499","authorId":"3573650696942499","name":"AlvintheTige","avatar":"https://static.tigerbbs.com/460880ecc1fc5fce82d547ef0fbb02da","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3573650696942499","authorIdStr":"3573650696942499"},"themes":[],"htmlText":"Agree","listText":"Agree","text":"Agree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/118423335","repostId":"1138216687","repostType":2,"repost":{"id":"1138216687","kind":"news","pubTimestamp":1622552095,"share":"https://ttm.financial/m/news/1138216687?lang=&edition=fundamental","pubTime":"2021-06-01 20:54","market":"hk","language":"en","title":"Alibaba: One Of The Really Cheap Bargains In This Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1138216687","media":"seekingalpha","summary":"Alibaba is one of the largest corporations in the world and focusing on retail, cloud and payment services.The company is clearly facing risks due to the tension between Jack Ma and the Chinese government, but I consider these risks to be only temporary.Alibaba is growing with a high pace, has a very stable balance sheet and outperforming many of its peers.So far, I have published over 300 articles on this site and the focus has been clearly on companies having the headquarters in the United Sta","content":"<p><b>Summary</b></p>\n<ul>\n <li>Alibaba is one of the largest corporations in the world and focusing on retail, cloud and payment services.</li>\n <li>The company is clearly facing risks due to the tension between Jack Ma and the Chinese government, but I consider these risks to be only temporary.</li>\n <li>Alibaba is growing with a high pace, has a very stable balance sheet and outperforming many of its peers.</li>\n <li>In my opinion, the stock is severely undervalued.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/15ac5f97c66688f6d16ce98819ebce4a\" tg-width=\"768\" tg-height=\"512\"><span>Photo by maybefalse/iStock Unreleased via Getty Images</span></p>\n<p>So far, I have published over 300 articles on this site and the focus has been clearly on companies having the headquarters in the United States and stocks listed on an US-based stock exchange. And while I am covering also companies from Germany, France, Great Britain, Sweden or Denmark, I have avoided one country almost completely although it has many interesting investment opportunities: Mainland China.The only company I covered so far&nbsp;is Tencent Holdings Limited (OTCPK:TCEHY).</p>\n<p>And although China has hundreds or thousands of successful companies, most of them are almost unknown in the Western Hemisphere (especially when moving outside of the investing world). And while most investors are familiar with Tencent, there is at least one other company almost every investor has heard of: Alibaba Group Holding Limited (BABA). In the following article, I will analyze Alibaba in my usual way. I will try to determine if Alibaba is a solid business with a wide economic moat and try to answer the question if Alibaba is a solid investment right now.</p>\n<p><b>Business Description</b></p>\n<p>Alibaba Group was founded in 1999 by 18 individuals. Nevertheless, one of these 18 stands out – the former English teacher from Hangzhou, Jack Ma. Over the years, Alibaba evolved in a multinational technology company and with a market capitalization of $570 billion, Alibaba is on the 10thspot on the list of most valuable companies in the world (by market cap). And behind Tencent, which is on the 7thspot on that list, Alibaba is the second most valuable company in China.</p>\n<p>While Alibaba is mostly focused on e-commerce and retail operations, the Alibaba Group is actually a holding company with many different sales services. This includes C2C services, B2C services and B2B services. Aside from retail, the Alibaba Group also offers electronic payment services, shipping search engines and could computing services. The group owns and operates a diverse portfolio of companies around the world in numerous business sectors.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b315044f4644568e7df5d95cc6720995\" tg-width=\"640\" tg-height=\"479\"><span>(Source:Alibaba Q4/20 Presentation)</span></p>\n<p>Alibaba is reporting in four different segments:</p>\n<ul>\n <li><b>Core Commerce Revenue</b>: This segment is comprised of platforms operating in retail and wholesale commerce in China as well as logistics services and local consumer services. In fiscal 2021, this segment generated RMB 621.1 billion in revenue and RMB 159 billion in income from operations.</li>\n <li><b>Cloud Computing Revenue</b>: This segment is comprised of Alibaba Cloud, which offers different cloud services to customers worldwide like database, storage, big data analytics, a machine learning platform and large-scale computing security. In fiscal 2021, this segment generated RMB 60.1 billion, but the segment was not profitable so far (a loss of RMB 9 billion).</li>\n <li><b>Digital Media and Entertainment Revenue</b>: This segment uses the deep data insights to serve the broader interests of consumers through key distribution platforms Youku and Alibaba Pictures as well as other content platforms that provide online videos, films, live events, literature and music. In fiscal 2021, this segment generated RMB 31.2 billion, but was also not profitable.</li>\n <li><b>Innovation Initiatives and Others Revenue</b>: This segment includes businesses like Amap, DingTalk, Tmall Genie and others. In fiscal 2021, this segment generated RMB 4.8 billion in revenue, but also an operating loss.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0529c547e87a4c0b023289ecb1822cbc\" tg-width=\"640\" tg-height=\"478\"><span>(Source: Alibaba Q4/20 Presentation)</span></p>\n<p>When looking at the last annual results (fiscal 2021), Alibaba generated RMB 717.3 billion in revenue. Compared to fiscal 2020 (RMB 509.7 billion) this is reflecting an increase of 41%. Adjusted EBITDA in fiscal 2021 was RMB 196.8 billion – an increase of 25% compared to fiscal 2020 (adjusted EBITA of RMB 157.7 billion). Diluted earnings per share actually decreased from RMB 6.99 in fiscal 2020 to RMB 6.84 in fiscal 2021 – reflecting a decrease of 2.1%. But we should not pay too much attention to the earnings per share. Instead, it makes much more sense to look at the free cash flow Alibaba is generating. In fiscal 2021, Alibaba generated RMB 172.7 billion in free cash flow compared to RMB 130.9 billion in free cash flow one year earlier.</p>\n<p><b>Strong Business Among Strong Competitors</b></p>\n<p>What is striking when looking at Alibaba – and what has been discussed several times – is the low multiple for which Alibaba is currently trading. When using the trailing twelve-month GAAP numbers, Alibaba is trading for 25 times earnings, when using the non-GAAP forward numbers, it is trading for a P/E ratio of 20.</p>\n<p>We can compare Alibaba to its peers – companies like Amazon (AMZN), Tencent, Facebook (FB), Microsoft (MSFT) or Alphabet (GOOG). And Alibaba actually belongs in that list as it is not only operating in similar business segments, but it is also growing with similarly high rates. And Alibaba is not only growing with a similar pace; it is actually outperforming most of its peers.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b576dcef2e37a02a6eba5677fded8ef8\" tg-width=\"640\" tg-height=\"299\"><span>(Source:Alibaba 2020 Investor Presentations)</span></p>\n<p>While Alibaba is growing with a similar pace like these companies, it is trading for a completely different multiple. Right now, Alibaba is trading for a price-cash-flow ratio of 17, while competitors like Tencent, Facebook or Microsoft are trading for a P/FCF ratio between 35 and 40. It is striking, that the market is assigning these competitors a multiple twice as high and Amazon is actually trading for a multiple more than 4 times higher (price-free-cash-flow ratio of 76).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6d2f58771a8062c7bb980622b93073e5\" tg-width=\"635\" tg-height=\"470\"><span>Data by YCharts</span></p>\n<p>Right now, readers might point out, that the comparison to Amazon is misleading as Amazon is still spending a lot of money to achieve future growth and therefore has a lower profit than other companies. And it certainly is true, that Amazon is still focusing on top line growth – sometimes at the expense of bottom-line growth – but so does Alibaba.</p>\n<p>While Amazon spent 10.4% of its revenue as capital expenditures in the last fiscal year, Alibaba spent almost the same amount – 8.9% of revenue. And when looking at the expenses for research and development, we once again see similar numbers. In the last five years, Amazon spent 12.16% of revenue on R&amp;D on average while Alibaba spent 10.38% of its revenue on R&amp;D.</p>\n<p>But while these numbers are quite similar for both companies – Amazon is spending a bit more on R&amp;D than Alibaba – the free cash flow these two companies can generate is completely different. While Amazon only generated 6.7% of revenue as free cash flow in the last fiscal year, Alibaba generated 26.5% of revenue as free cash flow in the last fiscal year – almost four times higher.</p>\n<p>And Alibaba is not only extremely profitable – it was growing with an extremely high pace in the past. During the past ten years, Alibaba could not only grow revenue every single year, it also grew revenue with a CAGR of 62.6%. Earnings per share fluctuated a little bit during these ten years but grew with an even higher pace – a CAGR of 76.29% during the last decade. And finally, free cash flow increased with a CAGR of 59.62% during the last decade.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d3ccaf170c0d86cd8022a68bc3657c30\" tg-width=\"640\" tg-height=\"404\"><span>(Source: Author’s work based on numbers from Morningstar)</span></p>\n<p>When looking at Alibaba’s growth rates in the last few years compared to its competitors, Alibaba is also outperforming. When looking at the revenue CAGR of the last 5 years, we get the following numbers:</p>\n<ul>\n <li>Amazon: 29.26%</li>\n <li>Facebook: 36.82%</li>\n <li>Tencent: 36.20%</li>\n <li>Alphabet: 19.47%</li>\n <li>Microsoft: 8.85%</li>\n <li>Alibaba: 46.24%</li>\n</ul>\n<p>We can spin it how we want: Alibaba is an extremely profitable company growing with extremely high rates but is trading at an extremely low multiple compared to its competitors. It is growing with a higher pace than Microsoft and Facebook, but trading for half the multiple. It is much more profitable than Amazon and also growing at a higher pace, but trading for a quarter of the valuation multiple. At this point, profitability and growth of Alibaba on the one side and the valuation multiple on the other side does not add up. And we have to ask the question, why Alibaba is trading for such a low multiple although it is outperforming many of its peers that trade for much higher multiples.</p>\n<p><b>Risks</b></p>\n<p>When looking at the past performance of Alibaba, we can see, that steep selloffs are quite common as a similar sell-off happened already three times since the IPO in 2014 with the steepest sell-off being more than 50% off the previous high.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4da83a08f0dcfc73534c206e43cb09d3\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p>\n<p>While this might help us a bit, we are still facing high levels of uncertainty and investors usually don’t like uncertainty. Basically, this uncertainty can be summed up in one short sentence: The tense relationship between Alibaba’s founder Jack Ma and the Chinese government is worrying for investors. And this tense relationship is exemplified by several events. It started last year, when the IPO of the company’s fintech affiliate Ant Financial was cancelled. </p>\n<p>This was followed by theinitiation of an antitrust investigation, in which it is investigated if Alibaba had engaged in monopolistic practices (like preventing vendors from selling on other platforms). Additionally, new supervision for Ant Group was also discussed. And finally, at the end of 2020, Jack Ma went missing and it took about three months before the public would hear from him again – another worrying aspect for investors.</p>\n<p>As long as we are talking about risks, there are other aspect I like to mention. I compared Alibaba to Amazon above – and I still think that comparison is appropriate. But we also have to acknowledge, that Alibaba growth potential is limited as the company is mostly focused on China and might have more difficulties to expand globally – compared to Amazon. But considering the growing middle class in China and the high pace with which the economy is still growing we should not worry too much about Alibaba’s growth potential.</p>\n<p>There is a final risk Imentioned in my last article about Tencentand that risk is also applying to Alibaba:</p>\n<blockquote>\n And a final risk is the fact that Tencent is a Chinese company. It is especially difficult to understand different trends before they are happening and predict the future, but while I am familiar with the German culture and the people (habits, preferences, etc.) and can deal with similar countries like France, the United Kingdom, Sweden or the United States, it is rather difficult for me to understand and analyze the consumer behavior and preferences of the Chinese population. This makes it difficult to assess the potential and development of the products and services Tencent offers.\n</blockquote>\n<p>But despite all these issues, there is a comparison I like very much. Very recently,one of my fellow contributorscompared Alibaba’s situation right now to Facebook a few years ago, when it was facing the Cambridge Analytics scandal and also trading for extremely low multiples due to the uncertainties. And it is also interesting, that Wall Street analysts as well as Seeking Alpha contributors are extremely bullish about Alibaba right now.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/44d2ece5c1460e539c9fd4fb4ba63bf7\" tg-width=\"640\" tg-height=\"195\"><span>(Source:Seeking Alpha)</span></p>\n<p><b>Balance Sheet</b></p>\n<p>When facing challenges, it is especially reassuring if we are dealing with a solid balance sheet enabling the company to withstand challenges and stormy market conditions. And similar to many companies mentioned above – like Facebook or Alphabet – Alibaba also has a great balance sheet. We don’t have to worry about high debt levels although Alibaba has current bank borrowings of RMB 3.6 billion and non-current bank borrowings of RMB 38.3 billion on its balance sheet. But compared to a total equity of RMB 1,075 billion, we get a D/E ratio of 0.04, which is negligible. Aside from the debt, the biggest problem is probably the company’s goodwill. On March 31, 2021, Alibaba had RMB 292.8 billion in goodwill. This means, that 17.3% of total assets (RMB 1,690 billion) is goodwill.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/532919e61e3feb83d46cbce44e3f3c42\" tg-width=\"640\" tg-height=\"354\"><span>(Source:Alibaba Q4/21 Earnings Release)</span></p>\n<p>But aside from goodwill, Alibaba also has RMB 321.3 billion in cash and cash equivalents as well as RMB 152.4 billion in short-term investments on its balance sheet. Aside from these rather liquid assets, Alibaba also has RMB 237.2 billion in equity securities and other investments, that are also worth mentioning. I included a screenshot of the latest balance sheet, which is also including the numbers in US$. Especially $72 billion in very liquid assets give Alibaba a lot of “financial power” and the ability to negative troubles.</p>\n<p><b>Intrinsic Value Calculation</b></p>\n<p>I already mentioned above that Alibaba is trading at rather low multiples – at least when compared to its peers and especially for a company growing with a high pace. And compared to the company’s history, the stock is right now trading almost for its lowest P/FCF ratio since the IPO. A few times – in 2016, 2018 and 2020 – the stock was trading at a similar low P/FCF ratio. From that point of view, Alibaba has to be considered extremely cheap.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d1da4ac18557b21c43feb2a338de9a3b\" tg-width=\"640\" tg-height=\"221\"><span>(Source:Seeking Alpha Charting)</span></p>\n<p>When you are familiar with my past articles, you know that I don’t just use valuation multiples but also a discount cash flow analysis, which is considered to be much more precise (although we have to make a lot more assumptions). When taking the free cash flow of fiscal 2021 (RMB 172.7 billion) as basis, Alibaba has to grow about 5.5% annually from now till perpetuity for the stock to be fairly valued (the intrinsic value is RMB 1,367; discount rate 10%).</p>\n<p>Instead, we can also calculate with more realistic growth rates. If we assume, that Alibaba won’t go under, we have to assume at least 20% growth for the next year. Let’s be rather pessimistic and assume, that growth will slowly decline over the next decade and in 10 years from now, the growth rate will only be 6% till perpetuity. When using these numbers, we get an intrinsic value of&nbsp;<b>RMB 2,596</b>. And we have to assume, that these growth assumptions are rather cautious for a company like Alibaba.</p>\n<p><b>Conclusion</b></p>\n<p>So far, we talked about risks, about past growth rates, compared Alibaba to its peers and provided an intrinsic value calculation. I also wanted to write about the growth potential as well as the wide economic moat, that Alibaba has without any doubt – similar toAmazon,FacebookorTencent. But the article would probably be too long then. Instead, I included links to three articles in which I described the economic moat of these businesses.</p>\n<p>When summing up, it is quite simple. When we assume, that Alibaba is in serious trouble and might be brought down in some way or is facing troubles, that will seriously mess with the company’s ability to grow, we should not invest in Alibaba. These risks are present, and we actually don’t know what could happen in the coming quarters (or years). However, I consider it extremely unlikely, that China will destroy its second most-valuable company. If we assume on the other side, that this is just a small hick-up and troubles Alibaba can work through in the coming quarters and Alibaba will continue to perform in a similar way as in the past (even with growth rates slowing down), Alibaba is probably one of the most undervalued stocks out there and an extreme bargain.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba: One Of The Really Cheap Bargains In This Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba: One Of The Really Cheap Bargains In This Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-01 20:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4432358-alibaba-one-of-the-really-cheap-bargains-in-market><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAlibaba is one of the largest corporations in the world and focusing on retail, cloud and payment services.\nThe company is clearly facing risks due to the tension between Jack Ma and the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4432358-alibaba-one-of-the-really-cheap-bargains-in-market\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://seekingalpha.com/article/4432358-alibaba-one-of-the-really-cheap-bargains-in-market","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1138216687","content_text":"Summary\n\nAlibaba is one of the largest corporations in the world and focusing on retail, cloud and payment services.\nThe company is clearly facing risks due to the tension between Jack Ma and the Chinese government, but I consider these risks to be only temporary.\nAlibaba is growing with a high pace, has a very stable balance sheet and outperforming many of its peers.\nIn my opinion, the stock is severely undervalued.\n\nPhoto by maybefalse/iStock Unreleased via Getty Images\nSo far, I have published over 300 articles on this site and the focus has been clearly on companies having the headquarters in the United States and stocks listed on an US-based stock exchange. And while I am covering also companies from Germany, France, Great Britain, Sweden or Denmark, I have avoided one country almost completely although it has many interesting investment opportunities: Mainland China.The only company I covered so far is Tencent Holdings Limited (OTCPK:TCEHY).\nAnd although China has hundreds or thousands of successful companies, most of them are almost unknown in the Western Hemisphere (especially when moving outside of the investing world). And while most investors are familiar with Tencent, there is at least one other company almost every investor has heard of: Alibaba Group Holding Limited (BABA). In the following article, I will analyze Alibaba in my usual way. I will try to determine if Alibaba is a solid business with a wide economic moat and try to answer the question if Alibaba is a solid investment right now.\nBusiness Description\nAlibaba Group was founded in 1999 by 18 individuals. Nevertheless, one of these 18 stands out – the former English teacher from Hangzhou, Jack Ma. Over the years, Alibaba evolved in a multinational technology company and with a market capitalization of $570 billion, Alibaba is on the 10thspot on the list of most valuable companies in the world (by market cap). And behind Tencent, which is on the 7thspot on that list, Alibaba is the second most valuable company in China.\nWhile Alibaba is mostly focused on e-commerce and retail operations, the Alibaba Group is actually a holding company with many different sales services. This includes C2C services, B2C services and B2B services. Aside from retail, the Alibaba Group also offers electronic payment services, shipping search engines and could computing services. The group owns and operates a diverse portfolio of companies around the world in numerous business sectors.\n(Source:Alibaba Q4/20 Presentation)\nAlibaba is reporting in four different segments:\n\nCore Commerce Revenue: This segment is comprised of platforms operating in retail and wholesale commerce in China as well as logistics services and local consumer services. In fiscal 2021, this segment generated RMB 621.1 billion in revenue and RMB 159 billion in income from operations.\nCloud Computing Revenue: This segment is comprised of Alibaba Cloud, which offers different cloud services to customers worldwide like database, storage, big data analytics, a machine learning platform and large-scale computing security. In fiscal 2021, this segment generated RMB 60.1 billion, but the segment was not profitable so far (a loss of RMB 9 billion).\nDigital Media and Entertainment Revenue: This segment uses the deep data insights to serve the broader interests of consumers through key distribution platforms Youku and Alibaba Pictures as well as other content platforms that provide online videos, films, live events, literature and music. In fiscal 2021, this segment generated RMB 31.2 billion, but was also not profitable.\nInnovation Initiatives and Others Revenue: This segment includes businesses like Amap, DingTalk, Tmall Genie and others. In fiscal 2021, this segment generated RMB 4.8 billion in revenue, but also an operating loss.\n\n(Source: Alibaba Q4/20 Presentation)\nWhen looking at the last annual results (fiscal 2021), Alibaba generated RMB 717.3 billion in revenue. Compared to fiscal 2020 (RMB 509.7 billion) this is reflecting an increase of 41%. Adjusted EBITDA in fiscal 2021 was RMB 196.8 billion – an increase of 25% compared to fiscal 2020 (adjusted EBITA of RMB 157.7 billion). Diluted earnings per share actually decreased from RMB 6.99 in fiscal 2020 to RMB 6.84 in fiscal 2021 – reflecting a decrease of 2.1%. But we should not pay too much attention to the earnings per share. Instead, it makes much more sense to look at the free cash flow Alibaba is generating. In fiscal 2021, Alibaba generated RMB 172.7 billion in free cash flow compared to RMB 130.9 billion in free cash flow one year earlier.\nStrong Business Among Strong Competitors\nWhat is striking when looking at Alibaba – and what has been discussed several times – is the low multiple for which Alibaba is currently trading. When using the trailing twelve-month GAAP numbers, Alibaba is trading for 25 times earnings, when using the non-GAAP forward numbers, it is trading for a P/E ratio of 20.\nWe can compare Alibaba to its peers – companies like Amazon (AMZN), Tencent, Facebook (FB), Microsoft (MSFT) or Alphabet (GOOG). And Alibaba actually belongs in that list as it is not only operating in similar business segments, but it is also growing with similarly high rates. And Alibaba is not only growing with a similar pace; it is actually outperforming most of its peers.\n(Source:Alibaba 2020 Investor Presentations)\nWhile Alibaba is growing with a similar pace like these companies, it is trading for a completely different multiple. Right now, Alibaba is trading for a price-cash-flow ratio of 17, while competitors like Tencent, Facebook or Microsoft are trading for a P/FCF ratio between 35 and 40. It is striking, that the market is assigning these competitors a multiple twice as high and Amazon is actually trading for a multiple more than 4 times higher (price-free-cash-flow ratio of 76).\nData by YCharts\nRight now, readers might point out, that the comparison to Amazon is misleading as Amazon is still spending a lot of money to achieve future growth and therefore has a lower profit than other companies. And it certainly is true, that Amazon is still focusing on top line growth – sometimes at the expense of bottom-line growth – but so does Alibaba.\nWhile Amazon spent 10.4% of its revenue as capital expenditures in the last fiscal year, Alibaba spent almost the same amount – 8.9% of revenue. And when looking at the expenses for research and development, we once again see similar numbers. In the last five years, Amazon spent 12.16% of revenue on R&D on average while Alibaba spent 10.38% of its revenue on R&D.\nBut while these numbers are quite similar for both companies – Amazon is spending a bit more on R&D than Alibaba – the free cash flow these two companies can generate is completely different. While Amazon only generated 6.7% of revenue as free cash flow in the last fiscal year, Alibaba generated 26.5% of revenue as free cash flow in the last fiscal year – almost four times higher.\nAnd Alibaba is not only extremely profitable – it was growing with an extremely high pace in the past. During the past ten years, Alibaba could not only grow revenue every single year, it also grew revenue with a CAGR of 62.6%. Earnings per share fluctuated a little bit during these ten years but grew with an even higher pace – a CAGR of 76.29% during the last decade. And finally, free cash flow increased with a CAGR of 59.62% during the last decade.\n(Source: Author’s work based on numbers from Morningstar)\nWhen looking at Alibaba’s growth rates in the last few years compared to its competitors, Alibaba is also outperforming. When looking at the revenue CAGR of the last 5 years, we get the following numbers:\n\nAmazon: 29.26%\nFacebook: 36.82%\nTencent: 36.20%\nAlphabet: 19.47%\nMicrosoft: 8.85%\nAlibaba: 46.24%\n\nWe can spin it how we want: Alibaba is an extremely profitable company growing with extremely high rates but is trading at an extremely low multiple compared to its competitors. It is growing with a higher pace than Microsoft and Facebook, but trading for half the multiple. It is much more profitable than Amazon and also growing at a higher pace, but trading for a quarter of the valuation multiple. At this point, profitability and growth of Alibaba on the one side and the valuation multiple on the other side does not add up. And we have to ask the question, why Alibaba is trading for such a low multiple although it is outperforming many of its peers that trade for much higher multiples.\nRisks\nWhen looking at the past performance of Alibaba, we can see, that steep selloffs are quite common as a similar sell-off happened already three times since the IPO in 2014 with the steepest sell-off being more than 50% off the previous high.\nData byYCharts\nWhile this might help us a bit, we are still facing high levels of uncertainty and investors usually don’t like uncertainty. Basically, this uncertainty can be summed up in one short sentence: The tense relationship between Alibaba’s founder Jack Ma and the Chinese government is worrying for investors. And this tense relationship is exemplified by several events. It started last year, when the IPO of the company’s fintech affiliate Ant Financial was cancelled. \nThis was followed by theinitiation of an antitrust investigation, in which it is investigated if Alibaba had engaged in monopolistic practices (like preventing vendors from selling on other platforms). Additionally, new supervision for Ant Group was also discussed. And finally, at the end of 2020, Jack Ma went missing and it took about three months before the public would hear from him again – another worrying aspect for investors.\nAs long as we are talking about risks, there are other aspect I like to mention. I compared Alibaba to Amazon above – and I still think that comparison is appropriate. But we also have to acknowledge, that Alibaba growth potential is limited as the company is mostly focused on China and might have more difficulties to expand globally – compared to Amazon. But considering the growing middle class in China and the high pace with which the economy is still growing we should not worry too much about Alibaba’s growth potential.\nThere is a final risk Imentioned in my last article about Tencentand that risk is also applying to Alibaba:\n\n And a final risk is the fact that Tencent is a Chinese company. It is especially difficult to understand different trends before they are happening and predict the future, but while I am familiar with the German culture and the people (habits, preferences, etc.) and can deal with similar countries like France, the United Kingdom, Sweden or the United States, it is rather difficult for me to understand and analyze the consumer behavior and preferences of the Chinese population. This makes it difficult to assess the potential and development of the products and services Tencent offers.\n\nBut despite all these issues, there is a comparison I like very much. Very recently,one of my fellow contributorscompared Alibaba’s situation right now to Facebook a few years ago, when it was facing the Cambridge Analytics scandal and also trading for extremely low multiples due to the uncertainties. And it is also interesting, that Wall Street analysts as well as Seeking Alpha contributors are extremely bullish about Alibaba right now.\n(Source:Seeking Alpha)\nBalance Sheet\nWhen facing challenges, it is especially reassuring if we are dealing with a solid balance sheet enabling the company to withstand challenges and stormy market conditions. And similar to many companies mentioned above – like Facebook or Alphabet – Alibaba also has a great balance sheet. We don’t have to worry about high debt levels although Alibaba has current bank borrowings of RMB 3.6 billion and non-current bank borrowings of RMB 38.3 billion on its balance sheet. But compared to a total equity of RMB 1,075 billion, we get a D/E ratio of 0.04, which is negligible. Aside from the debt, the biggest problem is probably the company’s goodwill. On March 31, 2021, Alibaba had RMB 292.8 billion in goodwill. This means, that 17.3% of total assets (RMB 1,690 billion) is goodwill.\n(Source:Alibaba Q4/21 Earnings Release)\nBut aside from goodwill, Alibaba also has RMB 321.3 billion in cash and cash equivalents as well as RMB 152.4 billion in short-term investments on its balance sheet. Aside from these rather liquid assets, Alibaba also has RMB 237.2 billion in equity securities and other investments, that are also worth mentioning. I included a screenshot of the latest balance sheet, which is also including the numbers in US$. Especially $72 billion in very liquid assets give Alibaba a lot of “financial power” and the ability to negative troubles.\nIntrinsic Value Calculation\nI already mentioned above that Alibaba is trading at rather low multiples – at least when compared to its peers and especially for a company growing with a high pace. And compared to the company’s history, the stock is right now trading almost for its lowest P/FCF ratio since the IPO. A few times – in 2016, 2018 and 2020 – the stock was trading at a similar low P/FCF ratio. From that point of view, Alibaba has to be considered extremely cheap.\n(Source:Seeking Alpha Charting)\nWhen you are familiar with my past articles, you know that I don’t just use valuation multiples but also a discount cash flow analysis, which is considered to be much more precise (although we have to make a lot more assumptions). When taking the free cash flow of fiscal 2021 (RMB 172.7 billion) as basis, Alibaba has to grow about 5.5% annually from now till perpetuity for the stock to be fairly valued (the intrinsic value is RMB 1,367; discount rate 10%).\nInstead, we can also calculate with more realistic growth rates. If we assume, that Alibaba won’t go under, we have to assume at least 20% growth for the next year. Let’s be rather pessimistic and assume, that growth will slowly decline over the next decade and in 10 years from now, the growth rate will only be 6% till perpetuity. When using these numbers, we get an intrinsic value of RMB 2,596. And we have to assume, that these growth assumptions are rather cautious for a company like Alibaba.\nConclusion\nSo far, we talked about risks, about past growth rates, compared Alibaba to its peers and provided an intrinsic value calculation. I also wanted to write about the growth potential as well as the wide economic moat, that Alibaba has without any doubt – similar toAmazon,FacebookorTencent. But the article would probably be too long then. Instead, I included links to three articles in which I described the economic moat of these businesses.\nWhen summing up, it is quite simple. When we assume, that Alibaba is in serious trouble and might be brought down in some way or is facing troubles, that will seriously mess with the company’s ability to grow, we should not invest in Alibaba. These risks are present, and we actually don’t know what could happen in the coming quarters (or years). However, I consider it extremely unlikely, that China will destroy its second most-valuable company. If we assume on the other side, that this is just a small hick-up and troubles Alibaba can work through in the coming quarters and Alibaba will continue to perform in a similar way as in the past (even with growth rates slowing down), Alibaba is probably one of the most undervalued stocks out there and an extreme bargain.","news_type":1},"isVote":1,"tweetType":1,"viewCount":514,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111099779,"gmtCreate":1622643026691,"gmtModify":1704187944909,"author":{"id":"3573650696942499","authorId":"3573650696942499","name":"AlvintheTige","avatar":"https://static.tigerbbs.com/460880ecc1fc5fce82d547ef0fbb02da","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3573650696942499","authorIdStr":"3573650696942499"},"themes":[],"htmlText":"Solid article we have here","listText":"Solid article we have here","text":"Solid article we have here","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/111099779","repostId":"1128017388","repostType":4,"repost":{"id":"1128017388","kind":"news","pubTimestamp":1622618011,"share":"https://ttm.financial/m/news/1128017388?lang=&edition=fundamental","pubTime":"2021-06-02 15:13","market":"us","language":"en","title":"Where Will NIO Stock Be In 5 Years?","url":"https://stock-news.laohu8.com/highlight/detail?id=1128017388","media":"seekingalpha","summary":"Summary\n\nNIO is a high-growth Chinese EV player with attractive products.\nIts BaaS technology provid","content":"<p><b>Summary</b></p>\n<ul>\n <li>NIO is a high-growth Chinese EV player with attractive products.</li>\n <li>Its BaaS technology provides a USP that should help NIO gain market share in the coming years.</li>\n <li>NIO is trading at a high valuation, and a lot of future growth is priced in already. Investors may have to be patient to see the growth story play out.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/215963a081072a260aa40bbb8991be26\" tg-width=\"1536\" tg-height=\"1152\" referrerpolicy=\"no-referrer\"><span>Photo by Andy Feng/iStock Editorial via Getty Images</span></p>\n<p><b>Article Thesis</b></p>\n<p>NIO (NIO) is a high-growth EV pure-play with unique offerings such as battery-as-a-service. The company enjoys growth tailwinds in its home market China and will increase its presence in overseas markets dramatically in the coming years. NIO is not as expensive as some other EV stocks, but shares are, on the other hand, still trading at a steep premium compared to how legacy auto companies are valued. Overall, NIO could return significant amounts of money in the coming years, but that is not a certainty, and investors should keep an eye on NIO's risk factors.</p>\n<p><b>NIO Stock Price</b></p>\n<p>NIO, Inc. is one of China's leading EV pure-plays, and that is reflected in its current valuation:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/335372a846d2b847c5006c47a65abf2d\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p>\n<p>At slightly below $40, NIO is valued at more than $60 billion right now. This is about 40% less than the valuation shares have traded at when they peaked in early 2021, which reflects the declining enthusiasm for EV stocks, as most of NIO's peers, including Tesla (TSLA), have seen their shares come back as well. Still, for reference, NIO is valued around the same level as Ford (F) - which is a way larger company for now, in terms of revenue and vehicle sales.</p>\n<p><b>Is NIO A Good Long-Term Stock?</b></p>\n<p>NIO is active in the high-growth EV market and thus benefits a lot from market growth tailwinds. On top of that, NIO also has an attractive product portfolio that includes well-received models such as the ES6 and ES8 SUVs. What differentiates NIO from most other EV companies is its battery-swapping technology that allows consumers to get a fully-charged battery in a couple of minutes when visiting one of NIO's battery-swapping stations.</p>\n<p>This means that the downtime when doing longer trips via an EV is reduced dramatically, as a battery-swap takes roughly as much time as refueling an ICE-powered car, whereas recharging most EVs takes well more than a couple of minutes. NIO's battery-swapping stations are being built out around China right now, although there is no meaningful footprint outside of NIO's home market yet.</p>\n<p>Still, NIO plans to roll out that service in international markets over the years, and once there is a large enough footprint of them to make a difference, this should be a unique selling point for NIO that will help differentiate its offerings from those of most peers. This could, I believe, result in further market share gains, which is why I wouldn't be surprised to see NIO grow at a rapid pace for the coming years.</p>\n<p>For 2021, NIO will likely deliver revenue growth of more than 100% on the back of strong deliveries growth, as the analyst community is currently forecasting a 130% revenue increase this year. For Q2, NIO is expecting a growth rate of&nbsp;around 110%&nbsp;for its deliveries, following a massive 480% revenue increase during the first quarter. NIO thus is growing quicker than the EV market as a whole, and also quicker than peers such as Tesla, which will grow by around 50%-60% this year, according to the analyst community, which is about half the growth rate that is expected for NIO this year.</p>\n<p>Maintaining 100%+ growth forever is, of course, not possible, and NIO's growth will decline from that level in the coming years. But due to the fact that its products are well-liked in its home market, while the company is also ambitiously planning a major entry into the&nbsp;large European EV market, NIO should still deliver very considerable growth in the coming years.</p>\n<p>Obvious growth tailwinds for a company, or even an industry, do not necessarily equate to massive share price upside, however. Investors should consider that NIO will, like all auto companies, be active in a cyclical, capital-intense industry where margins, on average, are not very high. This doesn't mean that NIO does not have long-term upside, but investors should keep in mind that a home run is not guaranteed when investing in NIO or other EV stocks - despite the fact that EV sales are growing quickly.</p>\n<p><b>NIO Stock Forecast In 5 Years</b></p>\n<p>NIO will grow its revenues by more than 100% this year, according to most estimates, but growth projections beyond that point are varying a lot more. Looking at 2022, for example, the analyst consensus for NIO's revenues is $8.7 billion, which would reflect a 78% increase versus the consensus for 2021. Estimates are in a wide range, however, as analyst estimates range from $7.3 billion to $11.9 billion in revenue in 2022.</p>\n<p>In other words, the most bullish estimates see NIO deliver 60% higher revenues than the most bearish estimates. Since these estimates are being made for 2022 - just one year from now - this wide discrepancy shows how hard it is to forecast exact revenue or earnings numbers for a company like NIO.</p>\n<p>For my estimate for 2025's revenues, I'll go with the analyst consensus for 2022, i.e. $8.7 billion, and then assume that revenues will grow at 1.5x the forecasted overall&nbsp;market growth rate of 27%&nbsp;in 2023, 2024, 2025, and 2026. This would get us to $34 billion in revenue in 2026, i.e. five years from now. Since analysts are currently forecasting that revenue will grow by 110% this year, and by around 80% next year, some readers may argue that a 40% growth rate estimate for 2023-2026 is too conservative. But the major unknowns and uncertainties around competitive pressures, government policies, etc., mean that I think that projecting a higher growth rate for many years in advance might be too optimistic.</p>\n<p>What might a $34 billion top line mean for NIO's stock price? Right now, shares are valued at 11.6x this year's expected sales, which is almost perfectly in line with the valuation of XPeng (XPEV), and slightly lower than that of Tesla:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ae661b708eec89bcb50b06a1b6947280\" tg-width=\"635\" tg-height=\"501\"><span>Data by YCharts</span></p>\n<p>Looking at 2022, we see that shares are valued at around 7x expected revenues right now, whereas XPeng and Tesla trade at 6x and 9x their expected revenues right now. I highly doubt that the average EV company will be trading at high single-digit or even double-digit sales multiples in 2026, as this is just too much of a difference versus the 0.5-2x revenue multiples that legacy auto companies usually trade at. But when we assume that NIO, as an EV pure-play, will still trade at a premium to legacy auto in the middle of the 2020s, a 3x or 4x sales multiple might be a realistic estimate.</p>\n<p>When we go with 3.5x our revenue forecast for 2026, that would equate to a market capitalization of 119 billion - about 90% more than NIO's current market capitalization. NIO's share count has not been constant, however, and has, in fact, been rising considerably in the past. When we assume that the share count will rise by another 20% through 2026, to 1.9 billion, then shares would trade at $61 in 2026. This would mean that shares have an upside potential of around 55% over the next five years, or about 9% annually.</p>\n<p>That is not at all unattractive, but it also isn't an absolutely outstanding return. On top of that, NIO, like many other EV startups, is a company with above-average volatility, above-average risks, and above-average uncertainties. I thus would not call NIO overly attractive at current prices, as the forecasted return is solid, but goes hand in hand with considerable risks/uncertainties. One can, of course, argue that the forecasted growth is too high, or too low, or that the target sales multiple should be different in 2026. As a base case scenario, I feel like this is reasonable, however.</p>\n<p><b>Is NIO Stock A Buy Now?</b></p>\n<p>In retrospect, it is pretty clear that NIO at $10 about a year ago was a great opportunity, and that buying NIO at $67 at the peak earlier this year was a pretty bad decision. NIO today, in the high $30s, is somewhere in between these two extremes. I believe that, for long-term investors, NIO has a good chance of delivering solid returns over the years. At the same time, however, a lot of growth is priced into the stock right now, and it is not possible to forecast what competitors will do over the coming years, how accommodating governments will be to EVs, how well the rollout in Europe and other international markets will go, etc.</p>\n<p>I think NIO is more attractive than many other EV companies today, including many of the EV startups that don't have any viable products yet, and also versus Tesla (which is growing slower and still trades at a higher valuation). I would not be surprised to see NIO's stock deliver solid returns during the 2020s. I don't think that NIO is an absolute no-brainer buy today, however, as NIO still trades at a quite high valuation, for now, even factoring in its strong growth.</p>\n<p>For those that are enterprising and do not mind the risks and uncertainties around future product launches and international expansion, the stock's volatility, and so on, NIO could be a buy today. But it is not a good choice for everyone, and some may want to watch the EV race from the sidelines instead of putting money at risk at current valuations.</p>\n<p>The current analyst consensus share price target is $59, but I personally do not think this is realistic in the very near term. Based on expected revenues for 2021, this would put NIO at an 18x sales multiple, which is, I believe, not justified. Over the next five years, however, a share price in that region seems achievable, I believe.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Where Will NIO Stock Be In 5 Years?</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\">\nWhere Will NIO Stock Be In 5 Years?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 15:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4432423-nio-stock-in-5-years><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nNIO is a high-growth Chinese EV player with attractive products.\nIts BaaS technology provides a USP that should help NIO gain market share in the coming years.\nNIO is trading at a high ...</p>\n\n<a href=\"https://seekingalpha.com/article/4432423-nio-stock-in-5-years\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4432423-nio-stock-in-5-years","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128017388","content_text":"Summary\n\nNIO is a high-growth Chinese EV player with attractive products.\nIts BaaS technology provides a USP that should help NIO gain market share in the coming years.\nNIO is trading at a high valuation, and a lot of future growth is priced in already. Investors may have to be patient to see the growth story play out.\n\nPhoto by Andy Feng/iStock Editorial via Getty Images\nArticle Thesis\nNIO (NIO) is a high-growth EV pure-play with unique offerings such as battery-as-a-service. The company enjoys growth tailwinds in its home market China and will increase its presence in overseas markets dramatically in the coming years. NIO is not as expensive as some other EV stocks, but shares are, on the other hand, still trading at a steep premium compared to how legacy auto companies are valued. Overall, NIO could return significant amounts of money in the coming years, but that is not a certainty, and investors should keep an eye on NIO's risk factors.\nNIO Stock Price\nNIO, Inc. is one of China's leading EV pure-plays, and that is reflected in its current valuation:\nData by YCharts\nAt slightly below $40, NIO is valued at more than $60 billion right now. This is about 40% less than the valuation shares have traded at when they peaked in early 2021, which reflects the declining enthusiasm for EV stocks, as most of NIO's peers, including Tesla (TSLA), have seen their shares come back as well. Still, for reference, NIO is valued around the same level as Ford (F) - which is a way larger company for now, in terms of revenue and vehicle sales.\nIs NIO A Good Long-Term Stock?\nNIO is active in the high-growth EV market and thus benefits a lot from market growth tailwinds. On top of that, NIO also has an attractive product portfolio that includes well-received models such as the ES6 and ES8 SUVs. What differentiates NIO from most other EV companies is its battery-swapping technology that allows consumers to get a fully-charged battery in a couple of minutes when visiting one of NIO's battery-swapping stations.\nThis means that the downtime when doing longer trips via an EV is reduced dramatically, as a battery-swap takes roughly as much time as refueling an ICE-powered car, whereas recharging most EVs takes well more than a couple of minutes. NIO's battery-swapping stations are being built out around China right now, although there is no meaningful footprint outside of NIO's home market yet.\nStill, NIO plans to roll out that service in international markets over the years, and once there is a large enough footprint of them to make a difference, this should be a unique selling point for NIO that will help differentiate its offerings from those of most peers. This could, I believe, result in further market share gains, which is why I wouldn't be surprised to see NIO grow at a rapid pace for the coming years.\nFor 2021, NIO will likely deliver revenue growth of more than 100% on the back of strong deliveries growth, as the analyst community is currently forecasting a 130% revenue increase this year. For Q2, NIO is expecting a growth rate of around 110% for its deliveries, following a massive 480% revenue increase during the first quarter. NIO thus is growing quicker than the EV market as a whole, and also quicker than peers such as Tesla, which will grow by around 50%-60% this year, according to the analyst community, which is about half the growth rate that is expected for NIO this year.\nMaintaining 100%+ growth forever is, of course, not possible, and NIO's growth will decline from that level in the coming years. But due to the fact that its products are well-liked in its home market, while the company is also ambitiously planning a major entry into the large European EV market, NIO should still deliver very considerable growth in the coming years.\nObvious growth tailwinds for a company, or even an industry, do not necessarily equate to massive share price upside, however. Investors should consider that NIO will, like all auto companies, be active in a cyclical, capital-intense industry where margins, on average, are not very high. This doesn't mean that NIO does not have long-term upside, but investors should keep in mind that a home run is not guaranteed when investing in NIO or other EV stocks - despite the fact that EV sales are growing quickly.\nNIO Stock Forecast In 5 Years\nNIO will grow its revenues by more than 100% this year, according to most estimates, but growth projections beyond that point are varying a lot more. Looking at 2022, for example, the analyst consensus for NIO's revenues is $8.7 billion, which would reflect a 78% increase versus the consensus for 2021. Estimates are in a wide range, however, as analyst estimates range from $7.3 billion to $11.9 billion in revenue in 2022.\nIn other words, the most bullish estimates see NIO deliver 60% higher revenues than the most bearish estimates. Since these estimates are being made for 2022 - just one year from now - this wide discrepancy shows how hard it is to forecast exact revenue or earnings numbers for a company like NIO.\nFor my estimate for 2025's revenues, I'll go with the analyst consensus for 2022, i.e. $8.7 billion, and then assume that revenues will grow at 1.5x the forecasted overall market growth rate of 27% in 2023, 2024, 2025, and 2026. This would get us to $34 billion in revenue in 2026, i.e. five years from now. Since analysts are currently forecasting that revenue will grow by 110% this year, and by around 80% next year, some readers may argue that a 40% growth rate estimate for 2023-2026 is too conservative. But the major unknowns and uncertainties around competitive pressures, government policies, etc., mean that I think that projecting a higher growth rate for many years in advance might be too optimistic.\nWhat might a $34 billion top line mean for NIO's stock price? Right now, shares are valued at 11.6x this year's expected sales, which is almost perfectly in line with the valuation of XPeng (XPEV), and slightly lower than that of Tesla:\nData by YCharts\nLooking at 2022, we see that shares are valued at around 7x expected revenues right now, whereas XPeng and Tesla trade at 6x and 9x their expected revenues right now. I highly doubt that the average EV company will be trading at high single-digit or even double-digit sales multiples in 2026, as this is just too much of a difference versus the 0.5-2x revenue multiples that legacy auto companies usually trade at. But when we assume that NIO, as an EV pure-play, will still trade at a premium to legacy auto in the middle of the 2020s, a 3x or 4x sales multiple might be a realistic estimate.\nWhen we go with 3.5x our revenue forecast for 2026, that would equate to a market capitalization of 119 billion - about 90% more than NIO's current market capitalization. NIO's share count has not been constant, however, and has, in fact, been rising considerably in the past. When we assume that the share count will rise by another 20% through 2026, to 1.9 billion, then shares would trade at $61 in 2026. This would mean that shares have an upside potential of around 55% over the next five years, or about 9% annually.\nThat is not at all unattractive, but it also isn't an absolutely outstanding return. On top of that, NIO, like many other EV startups, is a company with above-average volatility, above-average risks, and above-average uncertainties. I thus would not call NIO overly attractive at current prices, as the forecasted return is solid, but goes hand in hand with considerable risks/uncertainties. One can, of course, argue that the forecasted growth is too high, or too low, or that the target sales multiple should be different in 2026. As a base case scenario, I feel like this is reasonable, however.\nIs NIO Stock A Buy Now?\nIn retrospect, it is pretty clear that NIO at $10 about a year ago was a great opportunity, and that buying NIO at $67 at the peak earlier this year was a pretty bad decision. NIO today, in the high $30s, is somewhere in between these two extremes. I believe that, for long-term investors, NIO has a good chance of delivering solid returns over the years. At the same time, however, a lot of growth is priced into the stock right now, and it is not possible to forecast what competitors will do over the coming years, how accommodating governments will be to EVs, how well the rollout in Europe and other international markets will go, etc.\nI think NIO is more attractive than many other EV companies today, including many of the EV startups that don't have any viable products yet, and also versus Tesla (which is growing slower and still trades at a higher valuation). I would not be surprised to see NIO's stock deliver solid returns during the 2020s. I don't think that NIO is an absolute no-brainer buy today, however, as NIO still trades at a quite high valuation, for now, even factoring in its strong growth.\nFor those that are enterprising and do not mind the risks and uncertainties around future product launches and international expansion, the stock's volatility, and so on, NIO could be a buy today. But it is not a good choice for everyone, and some may want to watch the EV race from the sidelines instead of putting money at risk at current valuations.\nThe current analyst consensus share price target is $59, but I personally do not think this is realistic in the very near term. Based on expected revenues for 2021, this would put NIO at an 18x sales multiple, which is, I believe, not justified. Over the next five years, however, a share price in that region seems achievable, I believe.","news_type":1},"isVote":1,"tweetType":1,"viewCount":196,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138206012,"gmtCreate":1621940038336,"gmtModify":1704364783676,"author":{"id":"3573650696942499","authorId":"3573650696942499","name":"AlvintheTige","avatar":"https://static.tigerbbs.com/460880ecc1fc5fce82d547ef0fbb02da","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3573650696942499","authorIdStr":"3573650696942499"},"themes":[],"htmlText":"Not sure but u need to see the company fundamentals!!&nbsp;","listText":"Not sure but u need to see the company fundamentals!!&nbsp;","text":"Not sure but u need to see the company fundamentals!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/138206012","repostId":"2138716979","repostType":4,"isVote":1,"tweetType":1,"viewCount":465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342029689,"gmtCreate":1618132259241,"gmtModify":1704706882795,"author":{"id":"3573650696942499","authorId":"3573650696942499","name":"AlvintheTige","avatar":"https://static.tigerbbs.com/460880ecc1fc5fce82d547ef0fbb02da","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3573650696942499","authorIdStr":"3573650696942499"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/342029689","repostId":"1136941144","repostType":4,"repost":{"id":"1136941144","kind":"news","pubTimestamp":1617980884,"share":"https://ttm.financial/m/news/1136941144?lang=&edition=fundamental","pubTime":"2021-04-09 23:08","market":"us","language":"en","title":"Biden Boosts Health, Education in $1.52 Trillion Budget Request","url":"https://stock-news.laohu8.com/highlight/detail?id=1136941144","media":"Bloomberg","summary":"White House releases outline of budget request for 2022\nCongress likely to significantly reshape pla","content":"<ul>\n <li>White House releases outline of budget request for 2022</li>\n <li>Congress likely to significantly reshape plan in coming months</li>\n</ul>\n<p>President Joe Biden proposed major boosts in funding to combat inequality, disease and climate change as part of a $1.52 trillion budget request for 2022, part of his wider push to redefine the role of government in American lives.</p>\n<p>The administration’s outline, released by the White House Friday, kicks off a months-long process in which Congress is likely to significantly reshape the priorities, given stiff Republican opposition to many of the proposals. But the outline showcases how Biden is trying to bend the federal government toward a much greater role in the provision of health care and education.</p>\n<p>Combined with the $1.9 trillion pandemic-relief bill signed last month and a $2.25 trillion infrastructure-and-jobs proposal, the budget marks Biden’s third foray into using the power of the federal government to radically expand help for lower-income and middle-class Americans. A further social-spending package is also coming, all before Biden’s first 100 days have passed.</p>\n<p>Biden on Friday asked for a 15.9% jump in regular non-defense domestic spending for the fiscal year starting in October, with a more than 40% increase in education spending and a 23% jump for health. The overall budget request is an 8.4% boost from the current year, when excluding emergency spending for the pandemic.</p>\n<p>While there’s extra money for Internal Revenue Service enforcement, the plan doesn’t include the tax hikes on individuals that Biden is planning to unveil in coming weeks to help fund his broader expansion in fiscal spending.</p>\n<p><b>‘More Inclusive’</b></p>\n<p>There’s $14 billion extra to address climate change, $20 billion more for high-poverty schools and $6.5 billion for launching a new research agency to develop new treatments and cures for diseases -- along the lines of the Defense Department’s DARPA.</p>\n<p>“This moment of crisis is also a moment of possibility,” acting budget director Shalanda Young said in a message to lawmakers Friday. “Together, America has a chance not simply to go back to the way things were before the Covid-19 pandemic and economic downturn struck, but to begin building a better, stronger, more secure, more inclusive America.”</p>\n<p>The fiscal 2022 budget request comes on top of last week’s proposed eight-year infrastructure-led package, and a forthcoming, longer-term social-spending program expected to total around $1 trillion.</p>\n<p>Unlike those other proposals, the Democrats will need Republican votes in the Senate to pass the annual appropriations bills into which the budget is divided, according to the chamber’s rules. That means getting at least 10 GOP members aboard.</p>\n<p><b>Defense Spending</b></p>\n<p>Republican lawmakers are certain to take issue with many of Biden’s requests.</p>\n<p>The outline has $753 billion for defense programs in the upcoming fiscal year, which represents just a 1.7% increase -- significantly below the 4% to 5% bump advocated by GOP leaders, and a break with recent tradition of keeping defense and non-defense increases on the same scale.</p>\n<p>The White House argued that domestic investments have waned in recent years, and that Biden’s proposed boost on that side of the ledger would simply return the country’s non-defense spending to around the historic norm of 3.3% of gross domestic product.</p>\n<p>Biden includes no money for border-wall construction, canceling unspent funds from previous years, and has asked for $232 million more to study and investigate domestic terrorism in the wake of the insurrection by supporters of former President Donald Trump at the U.S. Capitol.</p>\n<p><b>No Caps</b></p>\n<p>The president’s 2022 request -- which involves just discretionary spending, and not entitlement programs like Medicare, Medicaid and Social Security -- comes without the budget caps that have been in place for a decade. The expiration of those caps, agreed to between the Obama administration and congressional Republicans, has been described by White House officials as an opportunity to pursue investments in areas like education, clean energy and public health.</p>\n<p>“Over the past decade, due in large measure to overly restrictive budget caps, the nation significantly under-invested in core public services, benefits and protections,” Young said.</p>\n<p>And though presidential budgets are routinely ignored on Capitol Hill, administration officials are hopeful the top-line numbers can offer an early guidepost for fellow Democrats who narrowly control both chambers of Congress.</p>\n<p>Priorities identified by the administration include:</p>\n<ul>\n <li>A $3.9 billion increase in funding to battle the opioid epidemic</li>\n <li>$232 million in new money for Department of Justice gun violence prevention programs</li>\n <li>More than $1.2 billion in new spending for aid to Central America, and asylum adjudication amid a surge of migrants at the U.S.-Mexico border.</li>\n</ul>\n<p>Biden is asking Congress to spend $14 billion more on climate programs across the U.S. government, with some $10 billion targeted to clean energy innovation. Much of the funding would go to Energy Department initiatives, including the Advanced Research Projects Agency for Climate, with support for high-risk ventures that offer the potential for changes in the way electricity is generated and used.</p>\n<p>He envisions a $1.4 billion increase for the National Oceanic and Atmospheric Administration, enabling greater work on climate observations and forecasting, and $600 million to buy electric vehicles and equipment for federal agencies such as the U.S. Postal Service, which is in theprocess of turning over its fleet. Another $800 million would go toward making public and assisted housing more energy efficient.</p>\n<p>Biden also calls for an additional $1.2 billion for the Internal Revenue Service to boost oversight of corporations and wealthy taxpayers and improve IRS customer service. It also calls for amulti-year allocation of $417 million to fund audits, which the White House hopes will bring in more revenues from businesses and wealthy taxpayers.</p>\n<p><b>Amtrak Money</b></p>\n<p>The Commerce Department would see a 28% increase --including a doubling of funds for manufacturing-related programs under the National Institute of Standards and Technology. Amtrak -- long favored by Biden -- receives a 35% increase.</p>\n<p>Biden’s budget proposal arrives months later than the usual timeline, and it lacks many of the details -- including plans for raising revenues, economic assumptions and a 10-year outlook -- that ordinarily accompany funding requests.</p>\n<p>Appropriations for 2022 need to be enacted before Oct. 1 to avert a government shutdown.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Biden Boosts Health, Education in $1.52 Trillion Budget Request</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\">\nBiden Boosts Health, Education in $1.52 Trillion Budget Request\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 23:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-09/biden-boosts-health-education-in-1-52-trillion-budget-request><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>White House releases outline of budget request for 2022\nCongress likely to significantly reshape plan in coming months\n\nPresident Joe Biden proposed major boosts in funding to combat inequality, ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-09/biden-boosts-health-education-in-1-52-trillion-budget-request\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"http://bloomberg.com/news/articles/2021-04-09/biden-boosts-health-education-in-1-52-trillion-budget-request","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136941144","content_text":"White House releases outline of budget request for 2022\nCongress likely to significantly reshape plan in coming months\n\nPresident Joe Biden proposed major boosts in funding to combat inequality, disease and climate change as part of a $1.52 trillion budget request for 2022, part of his wider push to redefine the role of government in American lives.\nThe administration’s outline, released by the White House Friday, kicks off a months-long process in which Congress is likely to significantly reshape the priorities, given stiff Republican opposition to many of the proposals. But the outline showcases how Biden is trying to bend the federal government toward a much greater role in the provision of health care and education.\nCombined with the $1.9 trillion pandemic-relief bill signed last month and a $2.25 trillion infrastructure-and-jobs proposal, the budget marks Biden’s third foray into using the power of the federal government to radically expand help for lower-income and middle-class Americans. A further social-spending package is also coming, all before Biden’s first 100 days have passed.\nBiden on Friday asked for a 15.9% jump in regular non-defense domestic spending for the fiscal year starting in October, with a more than 40% increase in education spending and a 23% jump for health. The overall budget request is an 8.4% boost from the current year, when excluding emergency spending for the pandemic.\nWhile there’s extra money for Internal Revenue Service enforcement, the plan doesn’t include the tax hikes on individuals that Biden is planning to unveil in coming weeks to help fund his broader expansion in fiscal spending.\n‘More Inclusive’\nThere’s $14 billion extra to address climate change, $20 billion more for high-poverty schools and $6.5 billion for launching a new research agency to develop new treatments and cures for diseases -- along the lines of the Defense Department’s DARPA.\n“This moment of crisis is also a moment of possibility,” acting budget director Shalanda Young said in a message to lawmakers Friday. “Together, America has a chance not simply to go back to the way things were before the Covid-19 pandemic and economic downturn struck, but to begin building a better, stronger, more secure, more inclusive America.”\nThe fiscal 2022 budget request comes on top of last week’s proposed eight-year infrastructure-led package, and a forthcoming, longer-term social-spending program expected to total around $1 trillion.\nUnlike those other proposals, the Democrats will need Republican votes in the Senate to pass the annual appropriations bills into which the budget is divided, according to the chamber’s rules. That means getting at least 10 GOP members aboard.\nDefense Spending\nRepublican lawmakers are certain to take issue with many of Biden’s requests.\nThe outline has $753 billion for defense programs in the upcoming fiscal year, which represents just a 1.7% increase -- significantly below the 4% to 5% bump advocated by GOP leaders, and a break with recent tradition of keeping defense and non-defense increases on the same scale.\nThe White House argued that domestic investments have waned in recent years, and that Biden’s proposed boost on that side of the ledger would simply return the country’s non-defense spending to around the historic norm of 3.3% of gross domestic product.\nBiden includes no money for border-wall construction, canceling unspent funds from previous years, and has asked for $232 million more to study and investigate domestic terrorism in the wake of the insurrection by supporters of former President Donald Trump at the U.S. Capitol.\nNo Caps\nThe president’s 2022 request -- which involves just discretionary spending, and not entitlement programs like Medicare, Medicaid and Social Security -- comes without the budget caps that have been in place for a decade. The expiration of those caps, agreed to between the Obama administration and congressional Republicans, has been described by White House officials as an opportunity to pursue investments in areas like education, clean energy and public health.\n“Over the past decade, due in large measure to overly restrictive budget caps, the nation significantly under-invested in core public services, benefits and protections,” Young said.\nAnd though presidential budgets are routinely ignored on Capitol Hill, administration officials are hopeful the top-line numbers can offer an early guidepost for fellow Democrats who narrowly control both chambers of Congress.\nPriorities identified by the administration include:\n\nA $3.9 billion increase in funding to battle the opioid epidemic\n$232 million in new money for Department of Justice gun violence prevention programs\nMore than $1.2 billion in new spending for aid to Central America, and asylum adjudication amid a surge of migrants at the U.S.-Mexico border.\n\nBiden is asking Congress to spend $14 billion more on climate programs across the U.S. government, with some $10 billion targeted to clean energy innovation. Much of the funding would go to Energy Department initiatives, including the Advanced Research Projects Agency for Climate, with support for high-risk ventures that offer the potential for changes in the way electricity is generated and used.\nHe envisions a $1.4 billion increase for the National Oceanic and Atmospheric Administration, enabling greater work on climate observations and forecasting, and $600 million to buy electric vehicles and equipment for federal agencies such as the U.S. Postal Service, which is in theprocess of turning over its fleet. Another $800 million would go toward making public and assisted housing more energy efficient.\nBiden also calls for an additional $1.2 billion for the Internal Revenue Service to boost oversight of corporations and wealthy taxpayers and improve IRS customer service. It also calls for amulti-year allocation of $417 million to fund audits, which the White House hopes will bring in more revenues from businesses and wealthy taxpayers.\nAmtrak Money\nThe Commerce Department would see a 28% increase --including a doubling of funds for manufacturing-related programs under the National Institute of Standards and Technology. Amtrak -- long favored by Biden -- receives a 35% increase.\nBiden’s budget proposal arrives months later than the usual timeline, and it lacks many of the details -- including plans for raising revenues, economic assumptions and a 10-year outlook -- that ordinarily accompany funding requests.\nAppropriations for 2022 need to be enacted before Oct. 1 to avert a government shutdown.","news_type":1},"isVote":1,"tweetType":1,"viewCount":379,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343360264,"gmtCreate":1617678108458,"gmtModify":1704701692992,"author":{"id":"3573650696942499","authorId":"3573650696942499","name":"AlvintheTige","avatar":"https://static.tigerbbs.com/460880ecc1fc5fce82d547ef0fbb02da","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3573650696942499","authorIdStr":"3573650696942499"},"themes":[],"htmlText":"Is AMD a stock to hold&nbsp;for long??&nbsp;","listText":"Is AMD a stock to hold&nbsp;for long??&nbsp;","text":"Is AMD a stock to hold for long??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/343360264","repostId":"2125767796","repostType":4,"repost":{"id":"2125767796","kind":"live","pubTimestamp":1617673877,"share":"https://ttm.financial/m/news/2125767796?lang=&edition=fundamental","pubTime":"2021-04-06 09:51","market":"us","language":"en","title":"AMD, Salesforce, HP, Xilinx and Sanmina paid $0 in federal income taxes in 2020 despite $4.1B in combined profits","url":"https://stock-news.laohu8.com/highlight/detail?id=2125767796","media":"Silicon Valley Business Journal","summary":"Some of the Bay Area's bigger tech firms paid $0 in federal income taxes last year, despite posting ","content":"<p>Some of the Bay Area's bigger tech firms paid $0 in federal income taxes last year, despite posting millions — sometimes billions — of dollars in profits.</p>\n<p>Advanced Micro Devices Inc., Salesforce.com Inc., HP Inc., Xilinx Inc. and Sanmina Corporation were all able to wipe out their federal tax bill last year, according to new report from the Institute on Taxation and Economic Policy. All but AMD actually saw a tax rebate.</p>\n<p>The companies were among 55 profitable public corporations that paid no federal taxes in 2020, according to ITEP.</p>\n<p>\"This continues a decades-long trend of corporate tax avoidance by the biggest U.S. corporations,\" said Matthew Gardner, an ITEP senior fellow, and Steve Wamhoff, the organization's director of federal tax policy, in the report.</p>\n<p>Of the local companies on ITEP's list, Salesforce (NYSE:CRM) reported the biggest profit last year. The cloud software provider earned $2.6 billion; despite that, it saw a $12 million rebate on its federal taxes. It used a variety of tax credits, including a break on compensation that's paid to executives and employees in the form of stock options, to whittle down its taxes, Gardner told the San Francisco Business Times.</p>\n<p>Among local firms, AMD posted the next biggest profit at $1.2 billion. It too used the stock options tax credit as well as the credit for research and experimentation to reduce its tax burden down to $0, according to the report.</p>\n<p>Meanwhile, HP, which reported a $861 million profit last year, saw a $24 million federal rebate. Xilinx, which earned $140 million, got $2 million back from the federal government. And Sanmina, which earned $95 million, got a $1 million rebate.</p>\n<p>Collectively, the five companies earned $4.1 billion and saw a combined rebate of $39 million.</p>\n<p>None of the five companies responded to a request for comment.</p>\n<p>The report doesn't assert that the companies did anything illegal; instead the companies were taking advantage of legal tax breaks, according to the report. And while the companies may not have paid any federal income taxes, they often paid other taxes. Salesforce, for example, paid $53 million in state income taxes last year and $238 million in foreign income taxes, according to its annual report.</p>\n<p>Among the companies that paid $0 income taxes last year, 26 — including three Bay Area ones — have effectively paid no taxes over the last three years despite being profitable. Salesforce earned $4.1 billion over that period and saw a rebate of $4 million. AMD posted a combined profit of $1.7 billion for that period and saw a rebate of $1 million. Sanmina earned $262 million over those three years and had a net tax bill of $0.</p>\n<p>That ability to pay no taxes over an extended period is partly a result of the 2017 Tax Cuts and Jobs Act (TCJA), the researchers said in the report.</p>\n<p>\"It is crystal clear that the TCJA failed to address loopholes that enable tax dodging — and may have made it worse,\" Gardner and Wamoff said in the report.</p>","source":"lsy1607939353695","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>AMD, Salesforce, HP, Xilinx and Sanmina paid $0 in federal income taxes in 2020 despite $4.1B in combined profits</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\">\nAMD, Salesforce, HP, Xilinx and Sanmina paid $0 in federal income taxes in 2020 despite $4.1B in combined profits\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-06 09:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bizjournals.com/sanjose/news/2021/04/05/amd-salesforce-xilinx-sanmina-0-income-tax-2020.html><strong>Silicon Valley Business Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Some of the Bay Area's bigger tech firms paid $0 in federal income taxes last year, despite posting millions — sometimes billions — of dollars in profits.\nAdvanced Micro Devices Inc., Salesforce.com ...</p>\n\n<a href=\"https://www.bizjournals.com/sanjose/news/2021/04/05/amd-salesforce-xilinx-sanmina-0-income-tax-2020.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bizjournals.com/sanjose/news/2021/04/05/amd-salesforce-xilinx-sanmina-0-income-tax-2020.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2125767796","content_text":"Some of the Bay Area's bigger tech firms paid $0 in federal income taxes last year, despite posting millions — sometimes billions — of dollars in profits.\nAdvanced Micro Devices Inc., Salesforce.com Inc., HP Inc., Xilinx Inc. and Sanmina Corporation were all able to wipe out their federal tax bill last year, according to new report from the Institute on Taxation and Economic Policy. All but AMD actually saw a tax rebate.\nThe companies were among 55 profitable public corporations that paid no federal taxes in 2020, according to ITEP.\n\"This continues a decades-long trend of corporate tax avoidance by the biggest U.S. corporations,\" said Matthew Gardner, an ITEP senior fellow, and Steve Wamhoff, the organization's director of federal tax policy, in the report.\nOf the local companies on ITEP's list, Salesforce (NYSE:CRM) reported the biggest profit last year. The cloud software provider earned $2.6 billion; despite that, it saw a $12 million rebate on its federal taxes. It used a variety of tax credits, including a break on compensation that's paid to executives and employees in the form of stock options, to whittle down its taxes, Gardner told the San Francisco Business Times.\nAmong local firms, AMD posted the next biggest profit at $1.2 billion. It too used the stock options tax credit as well as the credit for research and experimentation to reduce its tax burden down to $0, according to the report.\nMeanwhile, HP, which reported a $861 million profit last year, saw a $24 million federal rebate. Xilinx, which earned $140 million, got $2 million back from the federal government. And Sanmina, which earned $95 million, got a $1 million rebate.\nCollectively, the five companies earned $4.1 billion and saw a combined rebate of $39 million.\nNone of the five companies responded to a request for comment.\nThe report doesn't assert that the companies did anything illegal; instead the companies were taking advantage of legal tax breaks, according to the report. And while the companies may not have paid any federal income taxes, they often paid other taxes. Salesforce, for example, paid $53 million in state income taxes last year and $238 million in foreign income taxes, according to its annual report.\nAmong the companies that paid $0 income taxes last year, 26 — including three Bay Area ones — have effectively paid no taxes over the last three years despite being profitable. Salesforce earned $4.1 billion over that period and saw a rebate of $4 million. AMD posted a combined profit of $1.7 billion for that period and saw a rebate of $1 million. Sanmina earned $262 million over those three years and had a net tax bill of $0.\nThat ability to pay no taxes over an extended period is partly a result of the 2017 Tax Cuts and Jobs Act (TCJA), the researchers said in the report.\n\"It is crystal clear that the TCJA failed to address loopholes that enable tax dodging — and may have made it worse,\" Gardner and Wamoff said in the report.","news_type":1},"isVote":1,"tweetType":1,"viewCount":676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349760559,"gmtCreate":1617639279171,"gmtModify":1704701292206,"author":{"id":"3573650696942499","authorId":"3573650696942499","name":"AlvintheTige","avatar":"https://static.tigerbbs.com/460880ecc1fc5fce82d547ef0fbb02da","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3573650696942499","authorIdStr":"3573650696942499"},"themes":[],"htmlText":"That is great","listText":"That is great","text":"That is great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/349760559","repostId":"1123709980","repostType":4,"repost":{"id":"1123709980","kind":"news","pubTimestamp":1617636511,"share":"https://ttm.financial/m/news/1123709980?lang=&edition=fundamental","pubTime":"2021-04-05 23:28","market":"us","language":"en","title":"Tesla: The Time Is Now","url":"https://stock-news.laohu8.com/highlight/detail?id=1123709980","media":"seekingalpha","summary":"However, there is cause for optimism for the bulls.I'll explain a number of reasons why Tesla is a strong buy.Photo by Justin Sullivan/Getty Images News via Getty Images. Growth stocks have been absolutely destroyed in the past couple of months, and in the process, some bargains have been created. Not all growth stocks are created equal, and there were undoubtedly some frothy rallies that took place into the early part of 2021, but opportunities abound if you – like me – think that the rapid eco","content":"<p><b>Summary</b></p>\n<ul>\n <li>TSLA has been decimated in recent weeks.</li>\n <li>However, there is cause for optimism for the bulls.</li>\n <li>I'll explain a number of reasons why Tesla is a strong buy.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/34d035a970508c4a7d59d7c16d728cb5\" tg-width=\"1536\" tg-height=\"1000\"><span>Photo by Justin Sullivan/Getty Images News via Getty Images</span></p>\n<p>Growth stocks have been absolutely destroyed in the past couple of months, and in the process, some bargains have been created. Not all growth stocks are created equal, and there were undoubtedly some frothy rallies that took place into the early part of 2021, but opportunities abound if you – like me – think that the rapid economic expansion out of the COVID recession will serve these growth stocks well.</p>\n<p>One name that I haven’t touched much in the past, but that I believe is on the cusp of a big move higher, is electric vehicle OG&nbsp;<b>Tesla</b>(TSLA). Below, I’ll discuss why I like Tesla’s fundamentals at the current price, but the timing of my bullish position is dictated by what we see below.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f72f46ef39a132b1d301fa60da71f7ec\" tg-width=\"640\" tg-height=\"633\"><span>Source: StockCharts</span></p>\n<p>I’ve circled the areas that are ~4 weeks out from an upcoming earnings report to show how reliable Tesla has been in advancing – in a big way – into earnings reports. We are just under four weeks away from Tesla’s late-April report, and if history is a guide, the stock is likely to be a lot higher by the time the company reports than it is today. Given the immense weakness we’ve seen in the stock, I think the odds are even higher this time that the stock makes a run into the report than it usually is.</p>\n<p>Not only has Tesla been a big winner trading into earnings releases, but there are signs that the selling is losing momentum. The relative bottom at $539 was met with new momentum lows in the RSI and PPO, but the current move down has seen momentum much higher on a relative basis. That doesn’t guarantee anything, but it does show that the worst of the selling is<i>probably</i>over. I’ve circled the divergences I’m referencing in the chart above, as these are the earliest signs of a bottom being formed.</p>\n<p>Those that read my work know that I trust the accumulation/distribution line, which has never wavered despite the relentless selling we’ve seen. This indicator shows whether investors are buying dips or not and for the A/D line to look like that, on a stock with a massive market capitalization, institutions must be buying. Like the momentum indicators, nothing is certain with the A/D line, but all of this adds up to a stock that looks to me like it is trying to bottom.</p>\n<p>But there’s one more piece of evidence I’d like to offer up that I believe shows Tesla is very oversold and is due for a rally. Below, I’ve plotted the total percentage returns over the prior 50-day period going back to the middle of 2018 to show just how ugly the recent selling has been.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/41235a82786f7c031ead1bbf3aa15c90\" tg-width=\"640\" tg-height=\"444\"><span>Source: Author’s chart using historical price data from Yahoo! Finance</span></p>\n<p>Tesla is currently showing 50-day returns of -25%, which has only occurred a handful of times in the past three years. We can see that there was one period of protracted weakness in early 2019 that eventually resolved itself to the upside but did take some time. That was before EV stocks got their massive bid from investors, and I think it is pretty easy to argue that time frame isn’t all that comparable to today.</p>\n<p>What is comparable to today is the time period since 2020 began, and if we look at that, we see that Tesla is more oversold today by this measure than during any of the other drawdowns. I’ll say again none of this guarantees anything, but it certainly looks to me like Tesla is quite oversold on this measure, and keep in mind 50 trading days is roughly two and half months, so this is a longer-term indicator with lots of data points.</p>\n<p>Now, when I put all of this together – the recent decline, the divergences in momentum, the fact that Tesla has been a huge winner into earnings releases, and 50-day rolling returns – all signs point to a much higher stock a month or two down the road.</p>\n<p>Obviously, risks exist. The narrative for growth stocks being crushed has been higher interest rates, and if rates continue higher, it is possible we see more selling in growth names. However, the damage has been pretty severe in a lot of cases, and the interest rate narrative is a couple of months old at this point, so I’m not sure how much more downside there could be relative to what has already taken place.</p>\n<p>Even if you do buy into the idea that higher rates are responsible for growth stocks coming down, it appears to me we have rally exhaustion going on in rates, opposite to what I just explained for Tesla.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8431dcf8a7afbe72249144c017e28ced\" tg-width=\"640\" tg-height=\"536\"><span>Source: StockCharts</span></p>\n<p>We can see with this two-year chart that rates are still well below where they were pre-pandemic, with room for another 20 or 30bps before getting back to early-2020 levels. I mention this to say it isn’t like we’re making new highs in rates that should see growth stocks be decimated; this is just a rebound.</p>\n<p>But more importantly, the vertical line I’ve annotated shows that the ten-year has climbed for about a month, making new relative highs repeatedly without any sort of momentum confirmation. The PPO is moving lower, and the 14-day RSI is doing the same thing. This doesn’t guarantee rates are coming down, but it does certainly show the rally is losing steam. Negative divergences like these often portend a change of trend, at least temporarily, and I firmly believe rates have moved too high, too quickly. If you believe rates are responsible for growth stock declines, this should look pretty bullish to you.</p>\n<p><b>Not just a trade</b></p>\n<p>I’ve detailed above why I think Tesla is set up very well right now technically, and I think the stock is on the cusp of a big move higher. However, Tesla isn’t just a trade candidate. I used to be a Tesla hater based on valuation this and valuation that, but the company has proven me wrong time and again. And it isn’t just me; have a look at this chart of revenue estimates, which move up, up, and up some more over time.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8499c62835d88fca8a6c22c7cb8aeae8\" tg-width=\"640\" tg-height=\"282\"><span>Source: Seeking Alpha</span></p>\n<p>Revenue estimates have soared for the out years, but also for 2021 and 2022, in recent months. Tesla (read: Musk) has put out some highly ambitious goals over the year, some of which have come to fruition, and some of which haven’t. But this company is a massive disruptor in an industry with literally trillions of dollars on the line in the coming decade and has a huge head start on legacy players that are now trying to play catch up.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/414e539154fdd2ed51e8f5518cc1dee4\" tg-width=\"640\" tg-height=\"663\"><span>Source: Investor presentation</span></p>\n<p>The company continues to invest billions of dollars in new production capacity for its products, including Gigafactories in Shanghai, Berlin, and Austin. The Roadster will be low volume and likely won’t make much difference for revenue or earnings, but things like the Cybertruck and Semi have enormous potential.</p>\n<p>Tesla has taken big market share gains over the years with a very small lineup of vehicles, and as batteries become cheaper, as ranges get longer, and as more and more localities ban gasoline and diesel vehicles, Tesla is easily the biggest winner. Legacy manufacturers have scale advantages in terms of financing and footprints in place, but they are many years behind Tesla in terms of development.</p>\n<p>The beautiful thing is that Tesla is taking market share, but the market itself is growing rapidly. The adoption of EVs among consumers is still in the very early stages, and for commercial fleets, it is even earlier. This sort of rapidly expanding market is good for all players, but for Tesla, it is taking share in a burgeoning market, creating a virtuous cycle of upward revenue potential. That’s why estimates continue to rise, and why I believe they will continue to do so.</p>\n<p>Entire&nbsp;countries&nbsp;have made public their desire to ban fossil fuel vehicles in the not-too-distant future, which is why the legacy manufacturers are getting serious about EVs; there is no viable alternative at this point. Tesla has been developing for years and is the undisputed leader in the space, so it is in a much better competitive position for the eventual banning of fossil fuel vehicles around the world. Below we have EV market share, where Tesla is leading the way.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e5d31a504c8d24f752bdf964272d0c80\" tg-width=\"640\" tg-height=\"415\"><span>Source: Statista</span></p>\n<p>Tesla is in front of the only legacy OEM with any sort of meaningful share, which doesn't even account for the Detroit automakers, which are just getting started.</p>\n<p>Tesla has years of knowledge in battery development - which is a key competitive advantage and differentiator - and it has already invested in manufacturing scale that not only affords higher capacity but a lead over the others that are trying to catch up. In short, Tesla knew the path forward was EVs years before the OEMs, which are now trying to replicate Tesla's success.</p>\n<p>On the earnings front, Tesla used to be a leap of faith that at some point, the company would actually make some money. However, Tesla has now produced a full-year profit, and there appears to be no looking back.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/509625fa57a60dedf709454caef2bf2a\" tg-width=\"640\" tg-height=\"282\"><span>Source: Seeking Alpha</span></p>\n<p>Estimates have ramped higher since mid-2019, with steep upward slopes in estimates from 2021 through 2026 moving meaningfully higher. Tesla, in other words, has reached the inflection point with volume where it can cover all of its fixed costs, and reliably stop burning through cash by the hundreds of millions of dollars, which was an issue for years. That’s critically important because Tesla is no longer a leap of faith; it is a company with industry-leading operating margins and huge revenue growth potential.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c2ca244f453cb1ff0d6cf666285f958d\" tg-width=\"640\" tg-height=\"280\"><span>Source: Seeking Alpha</span></p>\n<p>If you look at the bottom line in the above table, operating income on a TTM basis was negative through March 2019 but has been positive - and rising - since. That means Tesla has indeed reached the point where profitability is no longer a concern; this is an important step in its maturation process and proof it is now a mainstream automaker.</p>\n<p><b>Valuation and sentiment</b></p>\n<p>The interesting thing is that despite the wave of positive news coming from Tesla itself, and in news items like entire countries planning to ban fossil fuel vehicles, the analyst community is never quite bullish on Tesla.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/464a965b06e8dd2a0e88f7849563b9fd\" tg-width=\"640\" tg-height=\"188\"><span>Source: Seeking Alpha</span></p>\n<p>Authors here on<i>Seeking Alpha</i>are, on the whole, bearish leaning, while we see a similar story with Wall Street ratings. I simply don’t agree given the massive potential Tesla has and the fact that it is a proven winner. There are now countless EV manufacturers, but none of them have the scale, product line, and development time in the tool kit that Tesla does.</p>\n<p>And as Tesla continues to take market share in this market that is growing so rapidly, there is a lot of room for analysts to figure out they are on the wrong side of Tesla.</p>\n<p>Finally, let’s take a look at the EV to sales ratios of Tesla and a selection of competitors for the past year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/57b4c81b65d3137aa47507c4757025df\" tg-width=\"640\" tg-height=\"186\"><span>Source: TIKR.com</span></p>\n<p>Valuations moved a lot higher coming out of the pandemic, but that’s true of just about any sector you can think of; a 100-year pandemic event will crush valuations. Out of that, however, came much higher EV stock valuations for all of the reasons I mentioned above; the market is booming and consumers are responding by buying EVs. However, the massive run-up in valuations has largely been unwound, and I think it is pretty interesting that Tesla, which trades at 13X EV to forward sales, is in the middle of this pack.</p>\n<p>The others on the list can rightly be called startups and have nothing close to the brand recognition, product line, development capability, manufacturing capability, or anything else you can think of when compared to Tesla. That means Tesla’s competitive advantage should be secure for years to come, but it trades for a similar valuation to these others that are sort of like buying Tesla in 2012 or 2013; it might work out, but it might not. Tesla is a very long way down the road in terms of its lifecycle compared to these competitors, so the relative risk is much lower.</p>\n<p><b>Final Thoughts</b></p>\n<p>Tesla is not only winning today, but it is continuing to invest tirelessly into winning tomorrow. Production scale for models like the 3, S, X, and Y is critical because those vehicles are selling today and providing the cash to invest in things like Cybertruck and Semi. Tesla is committed to winning in all stages of the EV market, including not only consumer but commercial as well.</p>\n<p>Semi production&nbsp;isn’t far off, and the company is already receiving&nbsp;interest&nbsp;from buyers. This has the potential for<i>massive</i>market share gains for Tesla in the next decade, but is not a story for 2021, to be clear.</p>\n<p>The point here is that Tesla shares have been beaten down to levels that I believe are low enough to buy. The company has been a reliable winner into earnings reports, which we are slated to see in just over three weeks time. Its market share gains continue to pile up and with its massive head start in the world of EVs, Tesla looks like a clear long-term winner.</p>\n<p>Valuations are rich but have come way down in recent weeks, and I’m going against the grain of recent pieces here on<i>SA</i>and am very bullish on Tesla, not only short term but longer term as well.</p>\n<p>Risks abound, of course, as they do with any automaker. The core risk for any company is that its product doesn't work in the marketplace, but for Tesla, that seems a bit farfetched given the success it has had. Tesla now has a full lineup of vehicles that is ever-expanding, and its brand is hugely valuable given its de factor first-mover advantage in EVs, scaling before the rest of the world thought to do so.</p>\n<p>Given this, the principal risk to Tesla's bull case is not in the business itself, but in the valuation discussion. It is possible that investors will choose to stop paying very high earnings multiples for Tesla in the coming years. This could occur due to missteps from Tesla - such as poor product design, overcapacity, or products consumers simply don't want - or it could come from the intense amount of competition that is likely to come online in the coming years.</p>\n<p>That, to me, is the biggest risk of buying Tesla today because it certainly appears this company is doing all the right things to win in an EV-dominated world. Thus, if you can look past the current valuation, if you're going to buy an automaker, you want to look at Tesla first.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla: The Time Is Now</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla: The Time Is Now\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-05 23:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4417634-tesla-the-time-is-now><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nTSLA has been decimated in recent weeks.\nHowever, there is cause for optimism for the bulls.\nI'll explain a number of reasons why Tesla is a strong buy.\n\nPhoto by Justin Sullivan/Getty Images...</p>\n\n<a href=\"https://seekingalpha.com/article/4417634-tesla-the-time-is-now\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4417634-tesla-the-time-is-now","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1123709980","content_text":"Summary\n\nTSLA has been decimated in recent weeks.\nHowever, there is cause for optimism for the bulls.\nI'll explain a number of reasons why Tesla is a strong buy.\n\nPhoto by Justin Sullivan/Getty Images News via Getty Images\nGrowth stocks have been absolutely destroyed in the past couple of months, and in the process, some bargains have been created. Not all growth stocks are created equal, and there were undoubtedly some frothy rallies that took place into the early part of 2021, but opportunities abound if you – like me – think that the rapid economic expansion out of the COVID recession will serve these growth stocks well.\nOne name that I haven’t touched much in the past, but that I believe is on the cusp of a big move higher, is electric vehicle OG Tesla(TSLA). Below, I’ll discuss why I like Tesla’s fundamentals at the current price, but the timing of my bullish position is dictated by what we see below.\nSource: StockCharts\nI’ve circled the areas that are ~4 weeks out from an upcoming earnings report to show how reliable Tesla has been in advancing – in a big way – into earnings reports. We are just under four weeks away from Tesla’s late-April report, and if history is a guide, the stock is likely to be a lot higher by the time the company reports than it is today. Given the immense weakness we’ve seen in the stock, I think the odds are even higher this time that the stock makes a run into the report than it usually is.\nNot only has Tesla been a big winner trading into earnings releases, but there are signs that the selling is losing momentum. The relative bottom at $539 was met with new momentum lows in the RSI and PPO, but the current move down has seen momentum much higher on a relative basis. That doesn’t guarantee anything, but it does show that the worst of the selling isprobablyover. I’ve circled the divergences I’m referencing in the chart above, as these are the earliest signs of a bottom being formed.\nThose that read my work know that I trust the accumulation/distribution line, which has never wavered despite the relentless selling we’ve seen. This indicator shows whether investors are buying dips or not and for the A/D line to look like that, on a stock with a massive market capitalization, institutions must be buying. Like the momentum indicators, nothing is certain with the A/D line, but all of this adds up to a stock that looks to me like it is trying to bottom.\nBut there’s one more piece of evidence I’d like to offer up that I believe shows Tesla is very oversold and is due for a rally. Below, I’ve plotted the total percentage returns over the prior 50-day period going back to the middle of 2018 to show just how ugly the recent selling has been.\nSource: Author’s chart using historical price data from Yahoo! Finance\nTesla is currently showing 50-day returns of -25%, which has only occurred a handful of times in the past three years. We can see that there was one period of protracted weakness in early 2019 that eventually resolved itself to the upside but did take some time. That was before EV stocks got their massive bid from investors, and I think it is pretty easy to argue that time frame isn’t all that comparable to today.\nWhat is comparable to today is the time period since 2020 began, and if we look at that, we see that Tesla is more oversold today by this measure than during any of the other drawdowns. I’ll say again none of this guarantees anything, but it certainly looks to me like Tesla is quite oversold on this measure, and keep in mind 50 trading days is roughly two and half months, so this is a longer-term indicator with lots of data points.\nNow, when I put all of this together – the recent decline, the divergences in momentum, the fact that Tesla has been a huge winner into earnings releases, and 50-day rolling returns – all signs point to a much higher stock a month or two down the road.\nObviously, risks exist. The narrative for growth stocks being crushed has been higher interest rates, and if rates continue higher, it is possible we see more selling in growth names. However, the damage has been pretty severe in a lot of cases, and the interest rate narrative is a couple of months old at this point, so I’m not sure how much more downside there could be relative to what has already taken place.\nEven if you do buy into the idea that higher rates are responsible for growth stocks coming down, it appears to me we have rally exhaustion going on in rates, opposite to what I just explained for Tesla.\nSource: StockCharts\nWe can see with this two-year chart that rates are still well below where they were pre-pandemic, with room for another 20 or 30bps before getting back to early-2020 levels. I mention this to say it isn’t like we’re making new highs in rates that should see growth stocks be decimated; this is just a rebound.\nBut more importantly, the vertical line I’ve annotated shows that the ten-year has climbed for about a month, making new relative highs repeatedly without any sort of momentum confirmation. The PPO is moving lower, and the 14-day RSI is doing the same thing. This doesn’t guarantee rates are coming down, but it does certainly show the rally is losing steam. Negative divergences like these often portend a change of trend, at least temporarily, and I firmly believe rates have moved too high, too quickly. If you believe rates are responsible for growth stock declines, this should look pretty bullish to you.\nNot just a trade\nI’ve detailed above why I think Tesla is set up very well right now technically, and I think the stock is on the cusp of a big move higher. However, Tesla isn’t just a trade candidate. I used to be a Tesla hater based on valuation this and valuation that, but the company has proven me wrong time and again. And it isn’t just me; have a look at this chart of revenue estimates, which move up, up, and up some more over time.\nSource: Seeking Alpha\nRevenue estimates have soared for the out years, but also for 2021 and 2022, in recent months. Tesla (read: Musk) has put out some highly ambitious goals over the year, some of which have come to fruition, and some of which haven’t. But this company is a massive disruptor in an industry with literally trillions of dollars on the line in the coming decade and has a huge head start on legacy players that are now trying to play catch up.\nSource: Investor presentation\nThe company continues to invest billions of dollars in new production capacity for its products, including Gigafactories in Shanghai, Berlin, and Austin. The Roadster will be low volume and likely won’t make much difference for revenue or earnings, but things like the Cybertruck and Semi have enormous potential.\nTesla has taken big market share gains over the years with a very small lineup of vehicles, and as batteries become cheaper, as ranges get longer, and as more and more localities ban gasoline and diesel vehicles, Tesla is easily the biggest winner. Legacy manufacturers have scale advantages in terms of financing and footprints in place, but they are many years behind Tesla in terms of development.\nThe beautiful thing is that Tesla is taking market share, but the market itself is growing rapidly. The adoption of EVs among consumers is still in the very early stages, and for commercial fleets, it is even earlier. This sort of rapidly expanding market is good for all players, but for Tesla, it is taking share in a burgeoning market, creating a virtuous cycle of upward revenue potential. That’s why estimates continue to rise, and why I believe they will continue to do so.\nEntire countries have made public their desire to ban fossil fuel vehicles in the not-too-distant future, which is why the legacy manufacturers are getting serious about EVs; there is no viable alternative at this point. Tesla has been developing for years and is the undisputed leader in the space, so it is in a much better competitive position for the eventual banning of fossil fuel vehicles around the world. Below we have EV market share, where Tesla is leading the way.\nSource: Statista\nTesla is in front of the only legacy OEM with any sort of meaningful share, which doesn't even account for the Detroit automakers, which are just getting started.\nTesla has years of knowledge in battery development - which is a key competitive advantage and differentiator - and it has already invested in manufacturing scale that not only affords higher capacity but a lead over the others that are trying to catch up. In short, Tesla knew the path forward was EVs years before the OEMs, which are now trying to replicate Tesla's success.\nOn the earnings front, Tesla used to be a leap of faith that at some point, the company would actually make some money. However, Tesla has now produced a full-year profit, and there appears to be no looking back.\nSource: Seeking Alpha\nEstimates have ramped higher since mid-2019, with steep upward slopes in estimates from 2021 through 2026 moving meaningfully higher. Tesla, in other words, has reached the inflection point with volume where it can cover all of its fixed costs, and reliably stop burning through cash by the hundreds of millions of dollars, which was an issue for years. That’s critically important because Tesla is no longer a leap of faith; it is a company with industry-leading operating margins and huge revenue growth potential.\nSource: Seeking Alpha\nIf you look at the bottom line in the above table, operating income on a TTM basis was negative through March 2019 but has been positive - and rising - since. That means Tesla has indeed reached the point where profitability is no longer a concern; this is an important step in its maturation process and proof it is now a mainstream automaker.\nValuation and sentiment\nThe interesting thing is that despite the wave of positive news coming from Tesla itself, and in news items like entire countries planning to ban fossil fuel vehicles, the analyst community is never quite bullish on Tesla.\nSource: Seeking Alpha\nAuthors here onSeeking Alphaare, on the whole, bearish leaning, while we see a similar story with Wall Street ratings. I simply don’t agree given the massive potential Tesla has and the fact that it is a proven winner. There are now countless EV manufacturers, but none of them have the scale, product line, and development time in the tool kit that Tesla does.\nAnd as Tesla continues to take market share in this market that is growing so rapidly, there is a lot of room for analysts to figure out they are on the wrong side of Tesla.\nFinally, let’s take a look at the EV to sales ratios of Tesla and a selection of competitors for the past year.\nSource: TIKR.com\nValuations moved a lot higher coming out of the pandemic, but that’s true of just about any sector you can think of; a 100-year pandemic event will crush valuations. Out of that, however, came much higher EV stock valuations for all of the reasons I mentioned above; the market is booming and consumers are responding by buying EVs. However, the massive run-up in valuations has largely been unwound, and I think it is pretty interesting that Tesla, which trades at 13X EV to forward sales, is in the middle of this pack.\nThe others on the list can rightly be called startups and have nothing close to the brand recognition, product line, development capability, manufacturing capability, or anything else you can think of when compared to Tesla. That means Tesla’s competitive advantage should be secure for years to come, but it trades for a similar valuation to these others that are sort of like buying Tesla in 2012 or 2013; it might work out, but it might not. Tesla is a very long way down the road in terms of its lifecycle compared to these competitors, so the relative risk is much lower.\nFinal Thoughts\nTesla is not only winning today, but it is continuing to invest tirelessly into winning tomorrow. Production scale for models like the 3, S, X, and Y is critical because those vehicles are selling today and providing the cash to invest in things like Cybertruck and Semi. Tesla is committed to winning in all stages of the EV market, including not only consumer but commercial as well.\nSemi production isn’t far off, and the company is already receiving interest from buyers. This has the potential formassivemarket share gains for Tesla in the next decade, but is not a story for 2021, to be clear.\nThe point here is that Tesla shares have been beaten down to levels that I believe are low enough to buy. The company has been a reliable winner into earnings reports, which we are slated to see in just over three weeks time. Its market share gains continue to pile up and with its massive head start in the world of EVs, Tesla looks like a clear long-term winner.\nValuations are rich but have come way down in recent weeks, and I’m going against the grain of recent pieces here onSAand am very bullish on Tesla, not only short term but longer term as well.\nRisks abound, of course, as they do with any automaker. The core risk for any company is that its product doesn't work in the marketplace, but for Tesla, that seems a bit farfetched given the success it has had. Tesla now has a full lineup of vehicles that is ever-expanding, and its brand is hugely valuable given its de factor first-mover advantage in EVs, scaling before the rest of the world thought to do so.\nGiven this, the principal risk to Tesla's bull case is not in the business itself, but in the valuation discussion. It is possible that investors will choose to stop paying very high earnings multiples for Tesla in the coming years. This could occur due to missteps from Tesla - such as poor product design, overcapacity, or products consumers simply don't want - or it could come from the intense amount of competition that is likely to come online in the coming years.\nThat, to me, is the biggest risk of buying Tesla today because it certainly appears this company is doing all the right things to win in an EV-dominated world. Thus, if you can look past the current valuation, if you're going to buy an automaker, you want to look at Tesla first.","news_type":1},"isVote":1,"tweetType":1,"viewCount":186,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":138206012,"gmtCreate":1621940038336,"gmtModify":1704364783676,"author":{"id":"3573650696942499","authorId":"3573650696942499","name":"AlvintheTige","avatar":"https://static.tigerbbs.com/460880ecc1fc5fce82d547ef0fbb02da","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3573650696942499","authorIdStr":"3573650696942499"},"themes":[],"htmlText":"Not sure but u need to see the company fundamentals!!&nbsp;","listText":"Not sure but u need to see the company fundamentals!!&nbsp;","text":"Not sure but u need to see the company fundamentals!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/138206012","repostId":"2138716979","repostType":4,"repost":{"id":"2138716979","kind":"highlight","pubTimestamp":1621935000,"share":"https://ttm.financial/m/news/2138716979?lang=&edition=fundamental","pubTime":"2021-05-25 17:30","market":"us","language":"en","title":"Is Johnson & Johnson a Buy for Summer 2021?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138716979","media":"Motley Fool","summary":"This pharmaceutical giant and troubled coronavirus vaccine maker has lagged behind the overall market. Is it a decent contrarian play?","content":"<p>Despite the economic turmoil of the past year, the <b>S&amp;P 500 </b>has delivered a magnificent 43% year-over-year rally. But those gains were far from uniform across all stocks, and indeed, many were left behind. One of these relative laggards was blue-chip pharmaceutical <b>Johnson &amp; Johnson&nbsp;</b>(NYSE:JNJ): Its stock has underperformed the index by more than 20 percentage points over the past 12 months.&nbsp;</p><p>That was a major disappointment for shareholders, many of whom were betting that a successful J&amp;J coronavirus vaccine would lift the company's shares. But is this pharma stock a buy today?&nbsp;</p><h2>What happened?&nbsp;</h2><p>Last year, Johnson &amp; Johnson (with $1 billion in federal support) developed a <a href=\"https://laohu8.com/S/AONE\">one</a>-dose coronavirus vaccine that was found to be 72% effective in clinical trials. It offered a couple of significant upsides compared to the mRNA vaccines that the FDA also approved for use: It has much less demanding cold-storage requirements, so it can be distributed in places that lack expensive cold-chain infrastructure. And its single-shot regimen gives it an advantage in terms of inoculating populations that are harder to reach.</p><p>However, the rollout of that vaccine, dubbed Ad26.CoV2.S, has been less than rosy. In fact, Johnson &amp; Johnson's vaccine now represents as little as 5% of overall vaccine volume in states like California.</p><p>Public image problems have plagued Ad26.CoV2.S since its release. First, people noticed that its distribution footprint correlated with communities in the poorest zip codes and rural areas. This related to the fact that it could be sent easily to places that the other vaccines could not be, but the disparity nonetheless led to baseless conspiracy theories alleging that the distribution strategy was racist in nature, as Ad26.CoV2.S had a somewhat lower efficacy rate than the <b>Pfizer </b>and&nbsp;<b>Moderna</b> vaccines.&nbsp;</p><p>Then, the U.S. Food and Drug Administration uncovered that the company's contract manufacturer, <b>Emergent Biosciences </b>(NYSE:EBS), was unqualified to produce vaccines at its Baltimore plant. Among many other issues, Emergent Biosciences employees tainted as many as 15 million doses of Johnson &amp; Johnson's vaccine with ingredients meant for <b>AstraZeneca</b>'s coronavirus vaccine.&nbsp;</p><p>AstraZeneca then had to relocate the production of its vaccine abroad to the Netherlands. On top of that, 28 people developed serious blood clots after receiving Ad26.CoV2.S. That's an extremely rare result considering that 8.7 million people had been given the vaccine. Even so, it contributed to a widespread perception that Johnson &amp; Johnson's vaccine is inferior, so people are largely choosing the mRNA shots instead when they can, even if it means a longer wait to get their jabs.</p><h2>Looking past the vaccine drama&nbsp;</h2><p>Investing in Johnson &amp; Johnson stock should never have been about speculating on its COVID-19 vaccine potential in the first place. Last year, it committed to selling Ad26.CoV2.S on a not-for-profit basis for the duration of the pandemic.</p><p>Meanwhile, during the first quarter, the pharma giant's revenue increased by 7.9% year over year to $22.3 billion. At the same time, its earnings per share improved 6.9% to $2.32. That growth is particularly impressive as Johnson &amp; Johnson is already a mega-corporation.</p><p>There was notable growth in sales worldwide across its pharmaceuticals and medical devices segments, though it was held back a bit by a small decline in its consumer health segment, where sales fell for certain supplies that had been in high demand early in the pandemic.&nbsp;</p><p>A key driver behind Johnson &amp; Johnson's long-term growth is its commitment to research and development. Over $2.3 billion of the company's sales are reinvested back into innovating new drugs. It has 10 drug approval requests pending in indications ranging from multiple myeloma to pulmonary arterial hypertension to schizophrenia. Johnson &amp; Johnson has a further five candidates awaiting submission to regulators, and four treatments in phase 3 clinical trials that have data readouts due by the end of the year.</p><h2>What's the verdict?&nbsp;</h2><p>Right now, the average pharma stock trades at about 5 times sales and 123 times earnings, and most companies in the space don't pay a dividend. Meanwhile, Johnson &amp; Johnson stock has a valuation of 4.8 times revenue, but only 18 times earnings. Its dividend yield is also decent at 2.37%, noticeably better than the 1.4% average yield of the S&amp;P 500.</p><p>Overall, given the strength of its core operations, its great R&amp;D pipeline, and its cheap valuation, Johnson &amp; Johnson is a solid stock to buy now. Investors should consider that its shares have significant untapped value, regardless of whether it ultimately sees financial success from its coronavirus vaccine program.&nbsp;</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Johnson & Johnson a Buy for Summer 2021?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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\">\nIs Johnson & Johnson a Buy for Summer 2021?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-25 17:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/25/is-johnson-johnson-a-buy-for-summer-2021/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Despite the economic turmoil of the past year, the S&P 500 has delivered a magnificent 43% year-over-year rally. But those gains were far from uniform across all stocks, and indeed, many were left ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/25/is-johnson-johnson-a-buy-for-summer-2021/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JNJ":"强生"},"source_url":"https://www.fool.com/investing/2021/05/25/is-johnson-johnson-a-buy-for-summer-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138716979","content_text":"Despite the economic turmoil of the past year, the S&P 500 has delivered a magnificent 43% year-over-year rally. But those gains were far from uniform across all stocks, and indeed, many were left behind. One of these relative laggards was blue-chip pharmaceutical Johnson & Johnson (NYSE:JNJ): Its stock has underperformed the index by more than 20 percentage points over the past 12 months. That was a major disappointment for shareholders, many of whom were betting that a successful J&J coronavirus vaccine would lift the company's shares. But is this pharma stock a buy today? What happened? Last year, Johnson & Johnson (with $1 billion in federal support) developed a one-dose coronavirus vaccine that was found to be 72% effective in clinical trials. It offered a couple of significant upsides compared to the mRNA vaccines that the FDA also approved for use: It has much less demanding cold-storage requirements, so it can be distributed in places that lack expensive cold-chain infrastructure. And its single-shot regimen gives it an advantage in terms of inoculating populations that are harder to reach.However, the rollout of that vaccine, dubbed Ad26.CoV2.S, has been less than rosy. In fact, Johnson & Johnson's vaccine now represents as little as 5% of overall vaccine volume in states like California.Public image problems have plagued Ad26.CoV2.S since its release. First, people noticed that its distribution footprint correlated with communities in the poorest zip codes and rural areas. This related to the fact that it could be sent easily to places that the other vaccines could not be, but the disparity nonetheless led to baseless conspiracy theories alleging that the distribution strategy was racist in nature, as Ad26.CoV2.S had a somewhat lower efficacy rate than the Pfizer and Moderna vaccines. Then, the U.S. Food and Drug Administration uncovered that the company's contract manufacturer, Emergent Biosciences (NYSE:EBS), was unqualified to produce vaccines at its Baltimore plant. Among many other issues, Emergent Biosciences employees tainted as many as 15 million doses of Johnson & Johnson's vaccine with ingredients meant for AstraZeneca's coronavirus vaccine. AstraZeneca then had to relocate the production of its vaccine abroad to the Netherlands. On top of that, 28 people developed serious blood clots after receiving Ad26.CoV2.S. That's an extremely rare result considering that 8.7 million people had been given the vaccine. Even so, it contributed to a widespread perception that Johnson & Johnson's vaccine is inferior, so people are largely choosing the mRNA shots instead when they can, even if it means a longer wait to get their jabs.Looking past the vaccine drama Investing in Johnson & Johnson stock should never have been about speculating on its COVID-19 vaccine potential in the first place. Last year, it committed to selling Ad26.CoV2.S on a not-for-profit basis for the duration of the pandemic.Meanwhile, during the first quarter, the pharma giant's revenue increased by 7.9% year over year to $22.3 billion. At the same time, its earnings per share improved 6.9% to $2.32. That growth is particularly impressive as Johnson & Johnson is already a mega-corporation.There was notable growth in sales worldwide across its pharmaceuticals and medical devices segments, though it was held back a bit by a small decline in its consumer health segment, where sales fell for certain supplies that had been in high demand early in the pandemic. A key driver behind Johnson & Johnson's long-term growth is its commitment to research and development. Over $2.3 billion of the company's sales are reinvested back into innovating new drugs. It has 10 drug approval requests pending in indications ranging from multiple myeloma to pulmonary arterial hypertension to schizophrenia. Johnson & Johnson has a further five candidates awaiting submission to regulators, and four treatments in phase 3 clinical trials that have data readouts due by the end of the year.What's the verdict? Right now, the average pharma stock trades at about 5 times sales and 123 times earnings, and most companies in the space don't pay a dividend. Meanwhile, Johnson & Johnson stock has a valuation of 4.8 times revenue, but only 18 times earnings. Its dividend yield is also decent at 2.37%, noticeably better than the 1.4% average yield of the S&P 500.Overall, given the strength of its core operations, its great R&D pipeline, and its cheap valuation, Johnson & Johnson is a solid stock to buy now. Investors should consider that its shares have significant untapped value, regardless of whether it ultimately sees financial success from its coronavirus vaccine program.","news_type":1},"isVote":1,"tweetType":1,"viewCount":465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343360264,"gmtCreate":1617678108458,"gmtModify":1704701692992,"author":{"id":"3573650696942499","authorId":"3573650696942499","name":"AlvintheTige","avatar":"https://static.tigerbbs.com/460880ecc1fc5fce82d547ef0fbb02da","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3573650696942499","authorIdStr":"3573650696942499"},"themes":[],"htmlText":"Is AMD a stock to hold&nbsp;for long??&nbsp;","listText":"Is AMD a stock to hold&nbsp;for long??&nbsp;","text":"Is AMD a stock to hold for long??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/343360264","repostId":"2125767796","repostType":4,"isVote":1,"tweetType":1,"viewCount":676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342029689,"gmtCreate":1618132259241,"gmtModify":1704706882795,"author":{"id":"3573650696942499","authorId":"3573650696942499","name":"AlvintheTige","avatar":"https://static.tigerbbs.com/460880ecc1fc5fce82d547ef0fbb02da","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3573650696942499","authorIdStr":"3573650696942499"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/342029689","repostId":"1136941144","repostType":4,"repost":{"id":"1136941144","kind":"news","pubTimestamp":1617980884,"share":"https://ttm.financial/m/news/1136941144?lang=&edition=fundamental","pubTime":"2021-04-09 23:08","market":"us","language":"en","title":"Biden Boosts Health, Education in $1.52 Trillion Budget Request","url":"https://stock-news.laohu8.com/highlight/detail?id=1136941144","media":"Bloomberg","summary":"White House releases outline of budget request for 2022\nCongress likely to significantly reshape pla","content":"<ul>\n <li>White House releases outline of budget request for 2022</li>\n <li>Congress likely to significantly reshape plan in coming months</li>\n</ul>\n<p>President Joe Biden proposed major boosts in funding to combat inequality, disease and climate change as part of a $1.52 trillion budget request for 2022, part of his wider push to redefine the role of government in American lives.</p>\n<p>The administration’s outline, released by the White House Friday, kicks off a months-long process in which Congress is likely to significantly reshape the priorities, given stiff Republican opposition to many of the proposals. But the outline showcases how Biden is trying to bend the federal government toward a much greater role in the provision of health care and education.</p>\n<p>Combined with the $1.9 trillion pandemic-relief bill signed last month and a $2.25 trillion infrastructure-and-jobs proposal, the budget marks Biden’s third foray into using the power of the federal government to radically expand help for lower-income and middle-class Americans. A further social-spending package is also coming, all before Biden’s first 100 days have passed.</p>\n<p>Biden on Friday asked for a 15.9% jump in regular non-defense domestic spending for the fiscal year starting in October, with a more than 40% increase in education spending and a 23% jump for health. The overall budget request is an 8.4% boost from the current year, when excluding emergency spending for the pandemic.</p>\n<p>While there’s extra money for Internal Revenue Service enforcement, the plan doesn’t include the tax hikes on individuals that Biden is planning to unveil in coming weeks to help fund his broader expansion in fiscal spending.</p>\n<p><b>‘More Inclusive’</b></p>\n<p>There’s $14 billion extra to address climate change, $20 billion more for high-poverty schools and $6.5 billion for launching a new research agency to develop new treatments and cures for diseases -- along the lines of the Defense Department’s DARPA.</p>\n<p>“This moment of crisis is also a moment of possibility,” acting budget director Shalanda Young said in a message to lawmakers Friday. “Together, America has a chance not simply to go back to the way things were before the Covid-19 pandemic and economic downturn struck, but to begin building a better, stronger, more secure, more inclusive America.”</p>\n<p>The fiscal 2022 budget request comes on top of last week’s proposed eight-year infrastructure-led package, and a forthcoming, longer-term social-spending program expected to total around $1 trillion.</p>\n<p>Unlike those other proposals, the Democrats will need Republican votes in the Senate to pass the annual appropriations bills into which the budget is divided, according to the chamber’s rules. That means getting at least 10 GOP members aboard.</p>\n<p><b>Defense Spending</b></p>\n<p>Republican lawmakers are certain to take issue with many of Biden’s requests.</p>\n<p>The outline has $753 billion for defense programs in the upcoming fiscal year, which represents just a 1.7% increase -- significantly below the 4% to 5% bump advocated by GOP leaders, and a break with recent tradition of keeping defense and non-defense increases on the same scale.</p>\n<p>The White House argued that domestic investments have waned in recent years, and that Biden’s proposed boost on that side of the ledger would simply return the country’s non-defense spending to around the historic norm of 3.3% of gross domestic product.</p>\n<p>Biden includes no money for border-wall construction, canceling unspent funds from previous years, and has asked for $232 million more to study and investigate domestic terrorism in the wake of the insurrection by supporters of former President Donald Trump at the U.S. Capitol.</p>\n<p><b>No Caps</b></p>\n<p>The president’s 2022 request -- which involves just discretionary spending, and not entitlement programs like Medicare, Medicaid and Social Security -- comes without the budget caps that have been in place for a decade. The expiration of those caps, agreed to between the Obama administration and congressional Republicans, has been described by White House officials as an opportunity to pursue investments in areas like education, clean energy and public health.</p>\n<p>“Over the past decade, due in large measure to overly restrictive budget caps, the nation significantly under-invested in core public services, benefits and protections,” Young said.</p>\n<p>And though presidential budgets are routinely ignored on Capitol Hill, administration officials are hopeful the top-line numbers can offer an early guidepost for fellow Democrats who narrowly control both chambers of Congress.</p>\n<p>Priorities identified by the administration include:</p>\n<ul>\n <li>A $3.9 billion increase in funding to battle the opioid epidemic</li>\n <li>$232 million in new money for Department of Justice gun violence prevention programs</li>\n <li>More than $1.2 billion in new spending for aid to Central America, and asylum adjudication amid a surge of migrants at the U.S.-Mexico border.</li>\n</ul>\n<p>Biden is asking Congress to spend $14 billion more on climate programs across the U.S. government, with some $10 billion targeted to clean energy innovation. Much of the funding would go to Energy Department initiatives, including the Advanced Research Projects Agency for Climate, with support for high-risk ventures that offer the potential for changes in the way electricity is generated and used.</p>\n<p>He envisions a $1.4 billion increase for the National Oceanic and Atmospheric Administration, enabling greater work on climate observations and forecasting, and $600 million to buy electric vehicles and equipment for federal agencies such as the U.S. Postal Service, which is in theprocess of turning over its fleet. Another $800 million would go toward making public and assisted housing more energy efficient.</p>\n<p>Biden also calls for an additional $1.2 billion for the Internal Revenue Service to boost oversight of corporations and wealthy taxpayers and improve IRS customer service. It also calls for amulti-year allocation of $417 million to fund audits, which the White House hopes will bring in more revenues from businesses and wealthy taxpayers.</p>\n<p><b>Amtrak Money</b></p>\n<p>The Commerce Department would see a 28% increase --including a doubling of funds for manufacturing-related programs under the National Institute of Standards and Technology. Amtrak -- long favored by Biden -- receives a 35% increase.</p>\n<p>Biden’s budget proposal arrives months later than the usual timeline, and it lacks many of the details -- including plans for raising revenues, economic assumptions and a 10-year outlook -- that ordinarily accompany funding requests.</p>\n<p>Appropriations for 2022 need to be enacted before Oct. 1 to avert a government shutdown.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Biden Boosts Health, Education in $1.52 Trillion Budget Request</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\">\nBiden Boosts Health, Education in $1.52 Trillion Budget Request\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 23:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-09/biden-boosts-health-education-in-1-52-trillion-budget-request><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>White House releases outline of budget request for 2022\nCongress likely to significantly reshape plan in coming months\n\nPresident Joe Biden proposed major boosts in funding to combat inequality, ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-09/biden-boosts-health-education-in-1-52-trillion-budget-request\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"http://bloomberg.com/news/articles/2021-04-09/biden-boosts-health-education-in-1-52-trillion-budget-request","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136941144","content_text":"White House releases outline of budget request for 2022\nCongress likely to significantly reshape plan in coming months\n\nPresident Joe Biden proposed major boosts in funding to combat inequality, disease and climate change as part of a $1.52 trillion budget request for 2022, part of his wider push to redefine the role of government in American lives.\nThe administration’s outline, released by the White House Friday, kicks off a months-long process in which Congress is likely to significantly reshape the priorities, given stiff Republican opposition to many of the proposals. But the outline showcases how Biden is trying to bend the federal government toward a much greater role in the provision of health care and education.\nCombined with the $1.9 trillion pandemic-relief bill signed last month and a $2.25 trillion infrastructure-and-jobs proposal, the budget marks Biden’s third foray into using the power of the federal government to radically expand help for lower-income and middle-class Americans. A further social-spending package is also coming, all before Biden’s first 100 days have passed.\nBiden on Friday asked for a 15.9% jump in regular non-defense domestic spending for the fiscal year starting in October, with a more than 40% increase in education spending and a 23% jump for health. The overall budget request is an 8.4% boost from the current year, when excluding emergency spending for the pandemic.\nWhile there’s extra money for Internal Revenue Service enforcement, the plan doesn’t include the tax hikes on individuals that Biden is planning to unveil in coming weeks to help fund his broader expansion in fiscal spending.\n‘More Inclusive’\nThere’s $14 billion extra to address climate change, $20 billion more for high-poverty schools and $6.5 billion for launching a new research agency to develop new treatments and cures for diseases -- along the lines of the Defense Department’s DARPA.\n“This moment of crisis is also a moment of possibility,” acting budget director Shalanda Young said in a message to lawmakers Friday. “Together, America has a chance not simply to go back to the way things were before the Covid-19 pandemic and economic downturn struck, but to begin building a better, stronger, more secure, more inclusive America.”\nThe fiscal 2022 budget request comes on top of last week’s proposed eight-year infrastructure-led package, and a forthcoming, longer-term social-spending program expected to total around $1 trillion.\nUnlike those other proposals, the Democrats will need Republican votes in the Senate to pass the annual appropriations bills into which the budget is divided, according to the chamber’s rules. That means getting at least 10 GOP members aboard.\nDefense Spending\nRepublican lawmakers are certain to take issue with many of Biden’s requests.\nThe outline has $753 billion for defense programs in the upcoming fiscal year, which represents just a 1.7% increase -- significantly below the 4% to 5% bump advocated by GOP leaders, and a break with recent tradition of keeping defense and non-defense increases on the same scale.\nThe White House argued that domestic investments have waned in recent years, and that Biden’s proposed boost on that side of the ledger would simply return the country’s non-defense spending to around the historic norm of 3.3% of gross domestic product.\nBiden includes no money for border-wall construction, canceling unspent funds from previous years, and has asked for $232 million more to study and investigate domestic terrorism in the wake of the insurrection by supporters of former President Donald Trump at the U.S. Capitol.\nNo Caps\nThe president’s 2022 request -- which involves just discretionary spending, and not entitlement programs like Medicare, Medicaid and Social Security -- comes without the budget caps that have been in place for a decade. The expiration of those caps, agreed to between the Obama administration and congressional Republicans, has been described by White House officials as an opportunity to pursue investments in areas like education, clean energy and public health.\n“Over the past decade, due in large measure to overly restrictive budget caps, the nation significantly under-invested in core public services, benefits and protections,” Young said.\nAnd though presidential budgets are routinely ignored on Capitol Hill, administration officials are hopeful the top-line numbers can offer an early guidepost for fellow Democrats who narrowly control both chambers of Congress.\nPriorities identified by the administration include:\n\nA $3.9 billion increase in funding to battle the opioid epidemic\n$232 million in new money for Department of Justice gun violence prevention programs\nMore than $1.2 billion in new spending for aid to Central America, and asylum adjudication amid a surge of migrants at the U.S.-Mexico border.\n\nBiden is asking Congress to spend $14 billion more on climate programs across the U.S. government, with some $10 billion targeted to clean energy innovation. Much of the funding would go to Energy Department initiatives, including the Advanced Research Projects Agency for Climate, with support for high-risk ventures that offer the potential for changes in the way electricity is generated and used.\nHe envisions a $1.4 billion increase for the National Oceanic and Atmospheric Administration, enabling greater work on climate observations and forecasting, and $600 million to buy electric vehicles and equipment for federal agencies such as the U.S. Postal Service, which is in theprocess of turning over its fleet. Another $800 million would go toward making public and assisted housing more energy efficient.\nBiden also calls for an additional $1.2 billion for the Internal Revenue Service to boost oversight of corporations and wealthy taxpayers and improve IRS customer service. It also calls for amulti-year allocation of $417 million to fund audits, which the White House hopes will bring in more revenues from businesses and wealthy taxpayers.\nAmtrak Money\nThe Commerce Department would see a 28% increase --including a doubling of funds for manufacturing-related programs under the National Institute of Standards and Technology. Amtrak -- long favored by Biden -- receives a 35% increase.\nBiden’s budget proposal arrives months later than the usual timeline, and it lacks many of the details -- including plans for raising revenues, economic assumptions and a 10-year outlook -- that ordinarily accompany funding requests.\nAppropriations for 2022 need to be enacted before Oct. 1 to avert a government shutdown.","news_type":1},"isVote":1,"tweetType":1,"viewCount":379,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349760559,"gmtCreate":1617639279171,"gmtModify":1704701292206,"author":{"id":"3573650696942499","authorId":"3573650696942499","name":"AlvintheTige","avatar":"https://static.tigerbbs.com/460880ecc1fc5fce82d547ef0fbb02da","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3573650696942499","authorIdStr":"3573650696942499"},"themes":[],"htmlText":"That is great","listText":"That is great","text":"That is great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/349760559","repostId":"1123709980","repostType":4,"isVote":1,"tweetType":1,"viewCount":186,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115798399,"gmtCreate":1623029720211,"gmtModify":1704194575857,"author":{"id":"3573650696942499","authorId":"3573650696942499","name":"AlvintheTige","avatar":"https://static.tigerbbs.com/460880ecc1fc5fce82d547ef0fbb02da","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3573650696942499","authorIdStr":"3573650696942499"},"themes":[],"htmlText":"Could be a good potential...","listText":"Could be a good potential...","text":"Could be a good potential...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/115798399","repostId":"2141284371","repostType":4,"isVote":1,"tweetType":1,"viewCount":481,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":118423335,"gmtCreate":1622756649927,"gmtModify":1704190423515,"author":{"id":"3573650696942499","authorId":"3573650696942499","name":"AlvintheTige","avatar":"https://static.tigerbbs.com/460880ecc1fc5fce82d547ef0fbb02da","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3573650696942499","authorIdStr":"3573650696942499"},"themes":[],"htmlText":"Agree","listText":"Agree","text":"Agree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/118423335","repostId":"1138216687","repostType":2,"isVote":1,"tweetType":1,"viewCount":514,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111099779,"gmtCreate":1622643026691,"gmtModify":1704187944909,"author":{"id":"3573650696942499","authorId":"3573650696942499","name":"AlvintheTige","avatar":"https://static.tigerbbs.com/460880ecc1fc5fce82d547ef0fbb02da","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3573650696942499","authorIdStr":"3573650696942499"},"themes":[],"htmlText":"Solid article we have here","listText":"Solid article we have here","text":"Solid article we have here","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/111099779","repostId":"1128017388","repostType":4,"isVote":1,"tweetType":1,"viewCount":196,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}