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2021-06-13

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Alibaba: One Of The Really Cheap Bargains In This Market

2021-06-13

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2021-06-13

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2021-06-12

risky!

Jeff Bezos is going to space for 11 minutes. Here's how risky that is

2021-06-12

up up up

2 Crucial Lessons From Cathie Wood About Apple Stock

2021-06-12

grow grow grow!

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2021-06-11

nice work

S&P 500 climbs to a new record close, shrugging off inflation fears

2021-06-11

nice analysis

Prediction: Amazon Will Hit $10,000 by 2025

2021-06-11

$AMC Entertainment(AMC)$up up up up!

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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":505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186555679,"gmtCreate":1623513947791,"gmtModify":1704205373601,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/186555679","repostId":"2142457201","repostType":2,"isVote":1,"tweetType":1,"viewCount":341,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186552540,"gmtCreate":1623513919280,"gmtModify":1704205372306,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/186552540","repostId":"1151053377","repostType":4,"isVote":1,"tweetType":1,"viewCount":721,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186550441,"gmtCreate":1623513572283,"gmtModify":1704205363901,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"risky!","listText":"risky!","text":"risky!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/186550441","repostId":"1115909292","repostType":4,"repost":{"id":"1115909292","kind":"news","pubTimestamp":1623413127,"share":"https://ttm.financial/m/news/1115909292?lang=&edition=fundamental","pubTime":"2021-06-11 20:05","market":"us","language":"en","title":"Jeff Bezos is going to space for 11 minutes. Here's how risky that is","url":"https://stock-news.laohu8.com/highlight/detail?id=1115909292","media":"cnn","summary":"New York (CNN Business)Jeff Bezos can have anything. He could circle the globe in a private jet or s","content":"<p>New York (CNN Business)Jeff Bezos can have anything. He could circle the globe in a private jet or sail it forever in a fleet of megayachts. He could afford to buy a the whole NFL; he could buy an archipelago for his family and friends; he could buy over 65,000 Bugatti Chirons (base price $2.9 million), even though only 500 are being built. As the world's richest person, the possibilities are endless. But Bezos appears ready to risk it all for an 11-minute ride to space.</p>\n<p><b>Just how risky is his decision?</b></p>\n<p>The answer isn't what you might expect. Space travel is, historically, fraught with danger. Though the risks are not necessarily astronomical for Bezos' jaunt to the cosmos, as his space company Blue Origin has spent the better part of the last decade running the suborbital New Shepard rocket he'll be riding on through a series of successful test flights. (Also, being in space is Bezos' lifelong dream.)</p>\n<p>Still, what Bezos, his brother Mark Bezos, and the winner of an online auction, will be doing -- going on the very first crewed flight of New Shepard, a fully autonomous suborbital rocket and spacecraft system designed to take ticket holders on brief joy rides to space -- is not entirely without risk.</p>\n<p>Here's what Bezos' flight will look like and the extent to which people are taking their lives in their hands when they go to outer space these days.</p>\n<p><b>What the flight looks like</b></p>\n<p>When most people think about spaceflight, they think about an astronaut circling the Earth, floating in space, for at least a few days.</p>\n<p>That is not what the Bezos brothers and their fellow passengers will be doing .</p>\n<p>They'll be going up and coming right back down, and they'll be doing it in less time -- about 11 minutes -- than it takes most people to get to work.</p>\n<p>Suborbital flights differ greatly from orbital flights of the type most of us think of when we think of spaceflight. Blue Origin's New Shepard flights will be brief, up-and-down trips, though they will go more than 62 miles above Earth, which is widely considered to be the edge of outer space.</p>\n<p>Orbital rockets need to drum up enough power to hit at least 17,000 miles per hour, or what's known as orbital velocity, essentially giving a spacecraft enough energy to continue whipping around the Earth rather than being dragged immediately back down by gravity.</p>\n<p>Suborbital flights require far less power and speed. That means less time the rocket is required to burn, lower temperatures scorching the outside of the spacecraft, less force and compression ripping at the spacecraft, and generally fewer opportunities for something to go very wrong.</p>\n<p>New Shepard's suborbital fights hit about about three times the speed of sound — roughly 2,300 miles per hour — and fly directly upward until the rocket expends most of its fuel. The crew capsule will then separate from the rocket at the top of the trajectory and briefly continue upward before the capsule almost hovers at the top of its flight path, giving the passengers a few minutes of weightlessness. It works sort of like an extended version of the weightlessness you experience when you reach the peak of a roller coaster hill, just before gravity brings your cart — or, in Bezos' case, your space capsule -- screaming back down toward the ground.</p>\n<p><img src=\"https://static.tigerbbs.com/1aeef7cd6efed45b4f08991c7c4b7be4\" tg-width=\"780\" tg-height=\"438\"></p>\n<p>The New Shepard capsule then deploys a large plume of parachutes to slow its descent to less than 20 miles per hour before it hits the ground.</p>\n<p>The rocket, flying separately, re-ignites its engines and uses its on-board computers to execute a pinpoint, upright landing. The booster landing looks similar to what SpaceX does with its Falcon 9 rockets, though those rockets are far more powerful than New Shepard and — yes — more prone to exploding on impact.</p>\n<p><b>How big are the risks?</b></p>\n<p>Blue Origin's New Shepard capsule, which is fully autonomous and does not require a pilot, has never had an explosive mishap in 15 test flights. And the nature of Bezos' flight means it comes with some inherently lower risks than more ambitious space travel attempts. But that doesn't mean the risk is zero, either.</p>\n<p>Because suborbital flights don't require as much speed or the intense process of trying to re-enter the Earth's atmosphere at incredible speeds, they're considered much less risky than orbital flights. With an orbital re-entry, a spacecraft's external temperatures can reach up to 3,500 degrees Fahrenheit, and astronauts can experience 4.5 Gs of force that is also placed upon the spacecraft, all while the ever-thickening atmosphere whips around the capsule.</p>\n<p>High speeds and high altitudes come with inherent risks, and even small errors can have big consequences. Earth's atmosphere is generally not considered survivable for significant amounts of time above altitudes of 50,000 feet without a spacesuit, and Bezos will be traveling up to 350,000 feet. But the capsule he travels in will be pressurized, so he doesn't need a special suit to keep him safe, and he'll have access to an oxygen mask if the cabin loses pressure. The spacecraft is also equipped with an abort system designed to jettison the New Shepard capsule and passengers away from the rocket in case of emergency. There's also back-up safety features to help the capsule land gently even if a couple of its parachutes fail to deploy.</p>\n<p>But even still, there is no way to absolutely guarantee safety should New Shepard malfunction.</p>\n<p>Even though suborbital flights are less risky than orbital missions, they can still be deadly.</p>\n<p>One of Virgin Galactic's suborbital space planes, for example, broke apart in 2014 when one of the vehicle's copilots prematurely deployed the feathering system designed to keep the craft stable as it made its descent. The added drag on the plane ripped it to pieces, killing one of the pilots.</p>\n<p>(Blue Origin competitor Virgin Galactic has since had three successful test flights of a revamped version of its SpaceShipTwo space plane.)</p>\n<p>Blue Origin has not encountered similar tragic accidents during its testing phase, though — as an old industry adage goes — space is hard.</p>\n<p>But, Bezos has indicated, the risk is worth it.</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>Jeff Bezos is going to space for 11 minutes. Here's how risky that is</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\">\nJeff Bezos is going to space for 11 minutes. Here's how risky that is\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 20:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://edition.cnn.com/2021/06/10/tech/jeff-bezos-blue-origin-flight-risk-scn/index.html><strong>cnn</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New York (CNN Business)Jeff Bezos can have anything. He could circle the globe in a private jet or sail it forever in a fleet of megayachts. He could afford to buy a the whole NFL; he could buy an ...</p>\n\n<a href=\"https://edition.cnn.com/2021/06/10/tech/jeff-bezos-blue-origin-flight-risk-scn/index.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://edition.cnn.com/2021/06/10/tech/jeff-bezos-blue-origin-flight-risk-scn/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115909292","content_text":"New York (CNN Business)Jeff Bezos can have anything. He could circle the globe in a private jet or sail it forever in a fleet of megayachts. He could afford to buy a the whole NFL; he could buy an archipelago for his family and friends; he could buy over 65,000 Bugatti Chirons (base price $2.9 million), even though only 500 are being built. As the world's richest person, the possibilities are endless. But Bezos appears ready to risk it all for an 11-minute ride to space.\nJust how risky is his decision?\nThe answer isn't what you might expect. Space travel is, historically, fraught with danger. Though the risks are not necessarily astronomical for Bezos' jaunt to the cosmos, as his space company Blue Origin has spent the better part of the last decade running the suborbital New Shepard rocket he'll be riding on through a series of successful test flights. (Also, being in space is Bezos' lifelong dream.)\nStill, what Bezos, his brother Mark Bezos, and the winner of an online auction, will be doing -- going on the very first crewed flight of New Shepard, a fully autonomous suborbital rocket and spacecraft system designed to take ticket holders on brief joy rides to space -- is not entirely without risk.\nHere's what Bezos' flight will look like and the extent to which people are taking their lives in their hands when they go to outer space these days.\nWhat the flight looks like\nWhen most people think about spaceflight, they think about an astronaut circling the Earth, floating in space, for at least a few days.\nThat is not what the Bezos brothers and their fellow passengers will be doing .\nThey'll be going up and coming right back down, and they'll be doing it in less time -- about 11 minutes -- than it takes most people to get to work.\nSuborbital flights differ greatly from orbital flights of the type most of us think of when we think of spaceflight. Blue Origin's New Shepard flights will be brief, up-and-down trips, though they will go more than 62 miles above Earth, which is widely considered to be the edge of outer space.\nOrbital rockets need to drum up enough power to hit at least 17,000 miles per hour, or what's known as orbital velocity, essentially giving a spacecraft enough energy to continue whipping around the Earth rather than being dragged immediately back down by gravity.\nSuborbital flights require far less power and speed. That means less time the rocket is required to burn, lower temperatures scorching the outside of the spacecraft, less force and compression ripping at the spacecraft, and generally fewer opportunities for something to go very wrong.\nNew Shepard's suborbital fights hit about about three times the speed of sound — roughly 2,300 miles per hour — and fly directly upward until the rocket expends most of its fuel. The crew capsule will then separate from the rocket at the top of the trajectory and briefly continue upward before the capsule almost hovers at the top of its flight path, giving the passengers a few minutes of weightlessness. It works sort of like an extended version of the weightlessness you experience when you reach the peak of a roller coaster hill, just before gravity brings your cart — or, in Bezos' case, your space capsule -- screaming back down toward the ground.\n\nThe New Shepard capsule then deploys a large plume of parachutes to slow its descent to less than 20 miles per hour before it hits the ground.\nThe rocket, flying separately, re-ignites its engines and uses its on-board computers to execute a pinpoint, upright landing. The booster landing looks similar to what SpaceX does with its Falcon 9 rockets, though those rockets are far more powerful than New Shepard and — yes — more prone to exploding on impact.\nHow big are the risks?\nBlue Origin's New Shepard capsule, which is fully autonomous and does not require a pilot, has never had an explosive mishap in 15 test flights. And the nature of Bezos' flight means it comes with some inherently lower risks than more ambitious space travel attempts. But that doesn't mean the risk is zero, either.\nBecause suborbital flights don't require as much speed or the intense process of trying to re-enter the Earth's atmosphere at incredible speeds, they're considered much less risky than orbital flights. With an orbital re-entry, a spacecraft's external temperatures can reach up to 3,500 degrees Fahrenheit, and astronauts can experience 4.5 Gs of force that is also placed upon the spacecraft, all while the ever-thickening atmosphere whips around the capsule.\nHigh speeds and high altitudes come with inherent risks, and even small errors can have big consequences. Earth's atmosphere is generally not considered survivable for significant amounts of time above altitudes of 50,000 feet without a spacesuit, and Bezos will be traveling up to 350,000 feet. But the capsule he travels in will be pressurized, so he doesn't need a special suit to keep him safe, and he'll have access to an oxygen mask if the cabin loses pressure. The spacecraft is also equipped with an abort system designed to jettison the New Shepard capsule and passengers away from the rocket in case of emergency. There's also back-up safety features to help the capsule land gently even if a couple of its parachutes fail to deploy.\nBut even still, there is no way to absolutely guarantee safety should New Shepard malfunction.\nEven though suborbital flights are less risky than orbital missions, they can still be deadly.\nOne of Virgin Galactic's suborbital space planes, for example, broke apart in 2014 when one of the vehicle's copilots prematurely deployed the feathering system designed to keep the craft stable as it made its descent. The added drag on the plane ripped it to pieces, killing one of the pilots.\n(Blue Origin competitor Virgin Galactic has since had three successful test flights of a revamped version of its SpaceShipTwo space plane.)\nBlue Origin has not encountered similar tragic accidents during its testing phase, though — as an old industry adage goes — space is hard.\nBut, Bezos has indicated, the risk is worth it.","news_type":1},"isVote":1,"tweetType":1,"viewCount":309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186550364,"gmtCreate":1623513555458,"gmtModify":1704205362932,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"up up up","listText":"up up up","text":"up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/186550364","repostId":"1190309980","repostType":4,"repost":{"id":"1190309980","kind":"news","pubTimestamp":1623411452,"share":"https://ttm.financial/m/news/1190309980?lang=&edition=fundamental","pubTime":"2021-06-11 19:37","market":"us","language":"en","title":"2 Crucial Lessons From Cathie Wood About Apple Stock","url":"https://stock-news.laohu8.com/highlight/detail?id=1190309980","media":"The Street","summary":"Cathie Wood’s ARK Invest is not much of an investor in Apple stock. But the famed fund manager has offered valuable advice about the Cupertino company’s shares that is worth revisiting.In doing my daily research of Apple stock  -Get Report, I stumbled upon a gem from Ark Invest’s CEO, CIO and rockstar money manager Cathie Wood. In January 2016, during aninterviewwith CNBC, she was asked which stock seemed like a better buy at the time: AAPL or AMZN.Considering Apple stock’s loss of 5% in 2015, h","content":"<blockquote>\n <b>Cathie Wood’s ARK Invest is not much of an investor in Apple stock. But the famed fund manager has offered valuable advice about the Cupertino company’s shares that is worth revisiting.</b>\n</blockquote>\n<p>In doing my daily research of Apple stock&nbsp;(<b>AAPL</b>) -Get Report, I stumbled upon a gem from Ark Invest’s CEO, CIO and rockstar money manager Cathie Wood. In January 2016, during aninterviewwith CNBC, she was asked which stock seemed like a better buy at the time: AAPL or AMZN.</p>\n<p>Considering Apple stock’s loss of 5% in 2015, her response was the following:</p>\n<blockquote>\n “At this moment, […] Apple might be, because […] the thinking there is so short term. […] Apple is going to become a big company, and [the stock] has been depressed recently by channel checks: how iPhone sales will do in the first quarter, or in the second quarter.”\n</blockquote>\n<p>Since this interview, Apple share price climbed a whopping 400%-plus in just over five years.</p>\n<p><b>#1. Buying quality on weakness</b></p>\n<p>The first important lesson from Ms. Wood’s 2016 insight above is that high-quality companies, whose stocks are likely to climb over time, should be bought on weakness. The logic is simple: if the long-term trend is up, buy shares when the market is selling them at a discount.</p>\n<p>I put some numbers around this ideaa couple of months ago. Historically, it has made much more sense to buy AAPL when shares declined from a previous peak.</p>\n<p>The chart below shows the historical average one-year return in Apple stock under different scenarios. Notice that, the more shares dip, the higher the future returns have been.</p>\n<p><img src=\"https://static.tigerbbs.com/d8f3b347dced7ad7d67e5c7ef756c550\" tg-width=\"578\" tg-height=\"348\">Following the same logic, current Apple investors might be encouraged that the stock remains under water: 12% below the January 2021 top of $143. Should AAPL make fresh all-time highs soon, asI recently speculated that it could, returns for the remainder of the year may start to look appealing.</p>\n<p><b>#2. Filtering out short-term noise</b></p>\n<p>The second point made by Cathie Wood is at least as important. In her view, Apple stock was under pressure in 2015 and early 2016 due to short-term concerns over smartphone sales in the following couple of quarters, especially after the blockbuster release of the iPhone 6.</p>\n<p>In analyzing market movements, I believe it helps to think about the real drivers of share price: buyers and sellers of the stock. Sometimes, people on both sides of the transaction are more concerned about how a stock might perform in the near term, possibly hoping to make a quick buck – and this is just fine.</p>\n<p>In these cases, long-term buyers are probably better off ignoring “short term noise” about what sales or earnings might look like right around the corner. Better yet, they might want to take advantage of selling pressures created by short-term traders to enter a position at better prices.</p>\n<p>Apple might be faced with a similar setup in 2021. The chatter on Wall Street seems torevolve around the company’s follow throughto a successful pandemic year and launch of the first 5G-capable iPhone.</p>\n<p>But look beyond the next 12 months, and one might find it easier to make a bullish case on Apple stock. The company continues to grow revenues, expand margins, pile on cash, while it has yet to tap intoopportunities in mixed realityandautonomous vehicles.</p>\n<p><b>Twitter speaks</b></p>\n<p>Big Tech stocks like Amazon and Apple are a tiny piece of famed investor Cathie Wood’s ARK portfolios. In your view, which of the following FAAMG names would deserve higher allocation in a tech disrupter and innovator ETF? Leave your vote below on our partner's Twitter, @AmazonMaven.</p>\n<p><img src=\"https://static.tigerbbs.com/565580495c2d16818604c9b6d814b1db\" tg-width=\"582\" tg-height=\"480\"></p>\n<p><b>Is the price right?</b></p>\n<p>Looking at a company’s business fundamentals is only half the work needed to find a good stock. How much one pays to own the shares is a key factor in the success of any investment. This is why valuation analysis is so important.</p>\n<p>Alpha Spread’suser-friendly platform allows you to estimate a stock’s fair value –through valuation multiples, discounted cash flow, and more. I believe that the service is a must for anyone looking to own the right stock at the right price.Check out alphaspread.comand get started with a 7-day free trial.</p>","source":"lsy1610613172068","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>2 Crucial Lessons From Cathie Wood About Apple Stock</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\">\n2 Crucial Lessons From Cathie Wood About Apple Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 19:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/apple/news/2-crucial-lessons-from-cathie-wood-about-apple-stock><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cathie Wood’s ARK Invest is not much of an investor in Apple stock. But the famed fund manager has offered valuable advice about the Cupertino company’s shares that is worth revisiting.\n\nIn doing my ...</p>\n\n<a href=\"https://www.thestreet.com/apple/news/2-crucial-lessons-from-cathie-wood-about-apple-stock\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/news/2-crucial-lessons-from-cathie-wood-about-apple-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190309980","content_text":"Cathie Wood’s ARK Invest is not much of an investor in Apple stock. But the famed fund manager has offered valuable advice about the Cupertino company’s shares that is worth revisiting.\n\nIn doing my daily research of Apple stock (AAPL) -Get Report, I stumbled upon a gem from Ark Invest’s CEO, CIO and rockstar money manager Cathie Wood. In January 2016, during aninterviewwith CNBC, she was asked which stock seemed like a better buy at the time: AAPL or AMZN.\nConsidering Apple stock’s loss of 5% in 2015, her response was the following:\n\n “At this moment, […] Apple might be, because […] the thinking there is so short term. […] Apple is going to become a big company, and [the stock] has been depressed recently by channel checks: how iPhone sales will do in the first quarter, or in the second quarter.”\n\nSince this interview, Apple share price climbed a whopping 400%-plus in just over five years.\n#1. Buying quality on weakness\nThe first important lesson from Ms. Wood’s 2016 insight above is that high-quality companies, whose stocks are likely to climb over time, should be bought on weakness. The logic is simple: if the long-term trend is up, buy shares when the market is selling them at a discount.\nI put some numbers around this ideaa couple of months ago. Historically, it has made much more sense to buy AAPL when shares declined from a previous peak.\nThe chart below shows the historical average one-year return in Apple stock under different scenarios. Notice that, the more shares dip, the higher the future returns have been.\nFollowing the same logic, current Apple investors might be encouraged that the stock remains under water: 12% below the January 2021 top of $143. Should AAPL make fresh all-time highs soon, asI recently speculated that it could, returns for the remainder of the year may start to look appealing.\n#2. Filtering out short-term noise\nThe second point made by Cathie Wood is at least as important. In her view, Apple stock was under pressure in 2015 and early 2016 due to short-term concerns over smartphone sales in the following couple of quarters, especially after the blockbuster release of the iPhone 6.\nIn analyzing market movements, I believe it helps to think about the real drivers of share price: buyers and sellers of the stock. Sometimes, people on both sides of the transaction are more concerned about how a stock might perform in the near term, possibly hoping to make a quick buck – and this is just fine.\nIn these cases, long-term buyers are probably better off ignoring “short term noise” about what sales or earnings might look like right around the corner. Better yet, they might want to take advantage of selling pressures created by short-term traders to enter a position at better prices.\nApple might be faced with a similar setup in 2021. The chatter on Wall Street seems torevolve around the company’s follow throughto a successful pandemic year and launch of the first 5G-capable iPhone.\nBut look beyond the next 12 months, and one might find it easier to make a bullish case on Apple stock. The company continues to grow revenues, expand margins, pile on cash, while it has yet to tap intoopportunities in mixed realityandautonomous vehicles.\nTwitter speaks\nBig Tech stocks like Amazon and Apple are a tiny piece of famed investor Cathie Wood’s ARK portfolios. In your view, which of the following FAAMG names would deserve higher allocation in a tech disrupter and innovator ETF? Leave your vote below on our partner's Twitter, @AmazonMaven.\n\nIs the price right?\nLooking at a company’s business fundamentals is only half the work needed to find a good stock. How much one pays to own the shares is a key factor in the success of any investment. This is why valuation analysis is so important.\nAlpha Spread’suser-friendly platform allows you to estimate a stock’s fair value –through valuation multiples, discounted cash flow, and more. I believe that the service is a must for anyone looking to own the right stock at the right price.Check out alphaspread.comand get started with a 7-day free trial.","news_type":1},"isVote":1,"tweetType":1,"viewCount":544,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186524236,"gmtCreate":1623513433825,"gmtModify":1704205360825,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"grow grow grow!&nbsp;","listText":"grow grow grow!&nbsp;","text":"grow grow grow!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/186524236","repostId":"2142204999","repostType":2,"isVote":1,"tweetType":1,"viewCount":384,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181261421,"gmtCreate":1623396971463,"gmtModify":1704202490477,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"nice work&nbsp;","listText":"nice work&nbsp;","text":"nice work","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/181261421","repostId":"1184070773","repostType":4,"repost":{"id":"1184070773","kind":"news","pubTimestamp":1623367038,"share":"https://ttm.financial/m/news/1184070773?lang=&edition=fundamental","pubTime":"2021-06-11 07:17","market":"us","language":"en","title":"S&P 500 climbs to a new record close, shrugging off inflation fears","url":"https://stock-news.laohu8.com/highlight/detail?id=1184070773","media":"cnbc","summary":"The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.The broad equity benchmark climbed nearly 0.5% to a record closing high of 4,239.18. The S&P 500 also hit an intraday record of 4,249.74, overtaking its May 7 high after the market traded sideways for a month. The Dow Jones Industrial Average advanced 19.10 points, or less than 0.1%, to 34,466.24, while the Nasdaq Composite gained about ","content":"<div>\n<p>The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.\nThe broad equity benchmark climbed ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 climbs to a new record close, shrugging off inflation fears</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 climbs to a new record close, shrugging off inflation fears\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 07:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.\nThe broad equity benchmark climbed ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站",".DJI":"道琼斯","UPS":"联合包裹",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1184070773","content_text":"The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.\nThe broad equity benchmark climbed nearly 0.5% to a record closing high of 4,239.18. The S&P 500 also hit an intraday record of 4,249.74, overtaking its May 7 high after the market traded sideways for a month. The Dow Jones Industrial Average advanced 19.10 points, or less than 0.1%, to 34,466.24, while the Nasdaq Composite gained about 0.8% to 14,020.33.\nConsumer prices for May accelerated at their fastest pace since the summer of 2008 amid the economic recovery from the pandemic-triggered recession,the Labor Department reported Thursday.\nThe consumer price index, which represents a basket including food, energy, groceries and prices across a spectrum of goods, rose 5% from a year ago. Economists surveyed by Dow Jones had been expecting a gain of 4.7%.\n\"I think there were a lot of people who held back, who wanted to see the hotter inflation number,\" CNBC's Jim Cramer said on \"Squawk on the Street.\" \"Now they've said, 'OK, now that's over with. Let's do some buying.' Because they've been on the sideline and they want to get in. I don't think that's actually usual these days because there's still so much buying power out there. People want in.\"\nFears of spiking inflation have weighed on the stock market in the last month, with investors worried the jump in prices will raise costs for companies, spark a move higher in interest rates and cause the Federal Reserve to remove its easy money policies.\n\"This CPI isn't likely to change the narrative dramatically, and there are still indications that inflation momentum is set to abate in the coming months,\" Adam Crisafulli, founder of Vital Knowledge, said in a note Thursday.\nMany economists also said the surge in used car costs for the month could have skewed the inflation reading. Used car and truck prices jumped more than 7%, accounting for one-third of the total increase for the month, according to the Bureau of Labor Statistics. The jump in used car prices likely reflects a temporary phenomenon related to the pandemic and auto supply.\nA separate report released Thursday showed that jobless claims for the week ended June 5 came in at 376,000, versus a Dow Jones estimate of 370,000. The total still marked the lowest of the pandemic era.\nUPS shares rose about 1% afteran upgrade from JPMorgan. Shares of Boeing were higher, but Delta Air Lines slipped.\nVideo-game retailer and meme stock GameStop fell 27% even after the company tapped former Amazon executive Matt Furlong to be its next CEO and said that sales rose 25% last quarter. The company also said it may sell up to 5 million additional shares.","news_type":1},"isVote":1,"tweetType":1,"viewCount":349,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181261192,"gmtCreate":1623396950116,"gmtModify":1704202489328,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"nice analysis","listText":"nice analysis","text":"nice analysis","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/181261192","repostId":"2142524078","repostType":4,"repost":{"id":"2142524078","kind":"highlight","pubTimestamp":1623379800,"share":"https://ttm.financial/m/news/2142524078?lang=&edition=fundamental","pubTime":"2021-06-11 10:50","market":"us","language":"en","title":"Prediction: Amazon Will Hit $10,000 by 2025","url":"https://stock-news.laohu8.com/highlight/detail?id=2142524078","media":"Motley Fool","summary":"Amazon at $10,000 in four years might sound outrageous, but it's actually saner than you realize.","content":"<p>The stock market offers few guarantees. However, there is <a href=\"https://laohu8.com/S/AONE\">one</a> exception: Change is constant.</p>\n<p>Looking back, it's not uncommon to see the market's 10 largest companies by market cap completely reshuffle every five or 10 years. Innovation, competitive advantages, and acquisitions, among other factors, regularly crown new superstars and pull the rug out from beneath widely held companies.</p>\n<p>It's my belief that e-commerce giant <b>Amazon</b> (NASDAQ:AMZN) is on track to soon surpass both <b>Microsoft</b>&nbsp;and <b>Apple</b>&nbsp;to become the largest publicly traded company. And that's not all. Between now and 2025, I predict Amazon will hit $10,000 a share. This would give the company a $5 trillion market cap.</p>\n<p>Sound outrageous or too good to be true? I'm about to show you why $10,000 by 2025 is saner than you think.</p>\n<h2>Amazon's online market share is unrivaled</h2>\n<p>Let's start by examining Amazon's two (yes, <i>two</i>) dominant operating models.</p>\n<p>Most people are probably very familiar with Amazon's online marketplace. According to data found on statistics-aggregator Statista, nearly 215 million people visited Amazon's online sites in December 2019. We can probably safely assume this figure moved substantially higher throughout 2020, with consumers stuck in their homes due to the coronavirus pandemic.</p>\n<p>Yet this isn't the jaw-dropping figure. What's even more impressive is that Amazon controls an estimated 40.4% of all online sales in the U.S., according to an April 2021 report from eMarketer. Think about this for a moment: $0.40 of every $1 spent online in the U.S. is being routed through Amazon, and the company's market share keeps inching higher.</p>\n<p>While it's great to be the go-to source for e-commerce, Amazon is also acutely aware of how razor thin retail margins can be. It's helped offset this by pushing its Prime membership.</p>\n<p>With Prime, members enjoy free two-day shipping, the unlimited streaming of movies and videos on Prime Video, and multiple deals and discounts when shopping. For Amazon, Prime helps the company generate tens of billions of dollars in additional revenue. With more than 200 million Prime members worldwide, Amazon is able to use the revenue from Prime to undercut brick-and-mortar retailers on price. It also doesn't hurt that Prime members have added incentive to spend more and to stay within Amazon's ecosystem of products and services.</p>\n<h2>AWS is becoming a more important puzzle piece</h2>\n<p>But Amazon is about far more than just its dominant online marketplace. The company's cloud infrastructure segment, Amazon Web Services (AWS), is also an absolute beast.</p>\n<p>According to global technology-analysis company Canalys, worldwide cloud revenue spending in the first quarter of 2021 totaled $41.8 billion. Of that nearly $42 billion, Google Cloud (a division of <b>Alphabet</b>) accounted for 7%, Microsoft Azure was responsible for 19%, and AWS stood tall with a 32% market share!</p>\n<p>With the pandemic wreaking havoc on traditional workplaces, businesses of all sizes have been pushing online and into the cloud to reach customers. That's meant sustainably high demand for AWS, which provides everything from database storage and content delivery to advanced analytics and management tools.</p>\n<p>How impressive has AWS been for Amazon? During the worst economic downturn in decades in 2020, AWS <i>still</i> grew sales by 30%. Revenue jumped another 32% in the first quarter of 2021, which pushed its annual sales run rate to about $54 billion.</p>\n<p>What's important to realize about AWS is that the margins associated with cloud infrastructure services are light years higher than Amazon's online marketplace. Even though AWS accounted for \"just\" $13.5 billion of the company's $108.5 billion in net sales in Q1 2021, it produced close to $4.2 billion in operating income. Amazon's other businesses, which yielded $95 billion in revenue, produced only $4.7 billion in operating income. In short, as AWS grows into a large percentage of total sales, operating income and cash flow will grow at a much faster rate than the company's total sales.</p>\n<h2>Amazon at $10,000 by 2025 is a very real possibility</h2>\n<p>Here's where things get interesting. It's no secret that Amazon's valuation doesn't make much sense using traditional fundamental analysis. This is to say that its price-to-earnings ratio and book value have always been in nosebleed territory. However, neither measure serves much purpose when we're talking about a nontraditional, fast-growing business. Since Amazon chooses to reinvest a majority of its capital, operating cash flow and historic operating cash flow multiples are considerably better measures of value for the company.</p>\n<p>Dating back to 2010, Amazon has ended each of the past 11 years at a multiple relative to its operating cash flow of between 23 and 37. Again, from a fundamental perspective, this might seem high. But given Amazon's utter dominance in e-commerce and cloud infrastructure services, it's a multiple that Wall Street and investors have been perfectly willing to support for more than a decade.</p>\n<p>As we look to 2021 and beyond, Wall Street is crystal clear that it expects AWS to help more than double Amazon's cash flow per share. Keeping in mind that estimates are fluid, here's what analysts are looking for, in terms of cash flow per share, through 2025, courtesy of <b>FactSet</b>:</p>\n<ul>\n <li><b>2021:</b> $153.73 consensus cash flow per share (CFPS)</li>\n <li><b>2022:</b> $192.99 consensus CFPS</li>\n <li><b>2023:</b> $234.91 consensus CFPS</li>\n <li><b>2024:</b> $294.30 consensus CFPS</li>\n <li><b>2025:</b> $341.70 consensus CFPS</li>\n</ul>\n<p>If Amazon were to simply remain valued at the median of its operating cash flow multiple (30) over the past 11 years (the midpoint between 23 and 37), the $341.70 in CFPS that it's estimated by Wall Street to bring in by 2025 would lead to a share price of (drum roll) $10,251.</p>\n<p>Amazon at $10,000 might seem like a pie-in-the-sky number, but it would be right in line with how investors have always valued the company. As long as AWS keeps growing by close to 30%, Amazon at $10,000 by 2025 becomes a very achievable target over the next four years.</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>Prediction: Amazon Will Hit $10,000 by 2025</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\">\nPrediction: Amazon Will Hit $10,000 by 2025\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 10:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/10/prediction-amazon-will-hit-10000-by-2025/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The stock market offers few guarantees. However, there is one exception: Change is constant.\nLooking back, it's not uncommon to see the market's 10 largest companies by market cap completely reshuffle...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/10/prediction-amazon-will-hit-10000-by-2025/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09086":"华夏纳指-U","AMZN":"亚马逊","AAPL":"苹果","03086":"华夏纳指"},"source_url":"https://www.fool.com/investing/2021/06/10/prediction-amazon-will-hit-10000-by-2025/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142524078","content_text":"The stock market offers few guarantees. However, there is one exception: Change is constant.\nLooking back, it's not uncommon to see the market's 10 largest companies by market cap completely reshuffle every five or 10 years. Innovation, competitive advantages, and acquisitions, among other factors, regularly crown new superstars and pull the rug out from beneath widely held companies.\nIt's my belief that e-commerce giant Amazon (NASDAQ:AMZN) is on track to soon surpass both Microsoft and Apple to become the largest publicly traded company. And that's not all. Between now and 2025, I predict Amazon will hit $10,000 a share. This would give the company a $5 trillion market cap.\nSound outrageous or too good to be true? I'm about to show you why $10,000 by 2025 is saner than you think.\nAmazon's online market share is unrivaled\nLet's start by examining Amazon's two (yes, two) dominant operating models.\nMost people are probably very familiar with Amazon's online marketplace. According to data found on statistics-aggregator Statista, nearly 215 million people visited Amazon's online sites in December 2019. We can probably safely assume this figure moved substantially higher throughout 2020, with consumers stuck in their homes due to the coronavirus pandemic.\nYet this isn't the jaw-dropping figure. What's even more impressive is that Amazon controls an estimated 40.4% of all online sales in the U.S., according to an April 2021 report from eMarketer. Think about this for a moment: $0.40 of every $1 spent online in the U.S. is being routed through Amazon, and the company's market share keeps inching higher.\nWhile it's great to be the go-to source for e-commerce, Amazon is also acutely aware of how razor thin retail margins can be. It's helped offset this by pushing its Prime membership.\nWith Prime, members enjoy free two-day shipping, the unlimited streaming of movies and videos on Prime Video, and multiple deals and discounts when shopping. For Amazon, Prime helps the company generate tens of billions of dollars in additional revenue. With more than 200 million Prime members worldwide, Amazon is able to use the revenue from Prime to undercut brick-and-mortar retailers on price. It also doesn't hurt that Prime members have added incentive to spend more and to stay within Amazon's ecosystem of products and services.\nAWS is becoming a more important puzzle piece\nBut Amazon is about far more than just its dominant online marketplace. The company's cloud infrastructure segment, Amazon Web Services (AWS), is also an absolute beast.\nAccording to global technology-analysis company Canalys, worldwide cloud revenue spending in the first quarter of 2021 totaled $41.8 billion. Of that nearly $42 billion, Google Cloud (a division of Alphabet) accounted for 7%, Microsoft Azure was responsible for 19%, and AWS stood tall with a 32% market share!\nWith the pandemic wreaking havoc on traditional workplaces, businesses of all sizes have been pushing online and into the cloud to reach customers. That's meant sustainably high demand for AWS, which provides everything from database storage and content delivery to advanced analytics and management tools.\nHow impressive has AWS been for Amazon? During the worst economic downturn in decades in 2020, AWS still grew sales by 30%. Revenue jumped another 32% in the first quarter of 2021, which pushed its annual sales run rate to about $54 billion.\nWhat's important to realize about AWS is that the margins associated with cloud infrastructure services are light years higher than Amazon's online marketplace. Even though AWS accounted for \"just\" $13.5 billion of the company's $108.5 billion in net sales in Q1 2021, it produced close to $4.2 billion in operating income. Amazon's other businesses, which yielded $95 billion in revenue, produced only $4.7 billion in operating income. In short, as AWS grows into a large percentage of total sales, operating income and cash flow will grow at a much faster rate than the company's total sales.\nAmazon at $10,000 by 2025 is a very real possibility\nHere's where things get interesting. It's no secret that Amazon's valuation doesn't make much sense using traditional fundamental analysis. This is to say that its price-to-earnings ratio and book value have always been in nosebleed territory. However, neither measure serves much purpose when we're talking about a nontraditional, fast-growing business. Since Amazon chooses to reinvest a majority of its capital, operating cash flow and historic operating cash flow multiples are considerably better measures of value for the company.\nDating back to 2010, Amazon has ended each of the past 11 years at a multiple relative to its operating cash flow of between 23 and 37. Again, from a fundamental perspective, this might seem high. But given Amazon's utter dominance in e-commerce and cloud infrastructure services, it's a multiple that Wall Street and investors have been perfectly willing to support for more than a decade.\nAs we look to 2021 and beyond, Wall Street is crystal clear that it expects AWS to help more than double Amazon's cash flow per share. Keeping in mind that estimates are fluid, here's what analysts are looking for, in terms of cash flow per share, through 2025, courtesy of FactSet:\n\n2021: $153.73 consensus cash flow per share (CFPS)\n2022: $192.99 consensus CFPS\n2023: $234.91 consensus CFPS\n2024: $294.30 consensus CFPS\n2025: $341.70 consensus CFPS\n\nIf Amazon were to simply remain valued at the median of its operating cash flow multiple (30) over the past 11 years (the midpoint between 23 and 37), the $341.70 in CFPS that it's estimated by Wall Street to bring in by 2025 would lead to a share price of (drum roll) $10,251.\nAmazon at $10,000 might seem like a pie-in-the-sky number, but it would be right in line with how investors have always valued the company. As long as AWS keeps growing by close to 30%, Amazon at $10,000 by 2025 becomes a very achievable target over the next four years.","news_type":1},"isVote":1,"tweetType":1,"viewCount":328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181288323,"gmtCreate":1623396445562,"gmtModify":1704202477846,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>up up up up!","listText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>up up up up!","text":"$AMC Entertainment(AMC)$up up up up!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/181288323","isVote":1,"tweetType":1,"viewCount":811,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":181288323,"gmtCreate":1623396445562,"gmtModify":1704202477846,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>up up up up!","listText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>up up up up!","text":"$AMC Entertainment(AMC)$up up up up!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/181288323","isVote":1,"tweetType":1,"viewCount":811,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186550364,"gmtCreate":1623513555458,"gmtModify":1704205362932,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"up up up","listText":"up up up","text":"up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/186550364","repostId":"1190309980","repostType":4,"repost":{"id":"1190309980","kind":"news","pubTimestamp":1623411452,"share":"https://ttm.financial/m/news/1190309980?lang=&edition=fundamental","pubTime":"2021-06-11 19:37","market":"us","language":"en","title":"2 Crucial Lessons From Cathie Wood About Apple Stock","url":"https://stock-news.laohu8.com/highlight/detail?id=1190309980","media":"The Street","summary":"Cathie Wood’s ARK Invest is not much of an investor in Apple stock. But the famed fund manager has offered valuable advice about the Cupertino company’s shares that is worth revisiting.In doing my daily research of Apple stock  -Get Report, I stumbled upon a gem from Ark Invest’s CEO, CIO and rockstar money manager Cathie Wood. In January 2016, during aninterviewwith CNBC, she was asked which stock seemed like a better buy at the time: AAPL or AMZN.Considering Apple stock’s loss of 5% in 2015, h","content":"<blockquote>\n <b>Cathie Wood’s ARK Invest is not much of an investor in Apple stock. But the famed fund manager has offered valuable advice about the Cupertino company’s shares that is worth revisiting.</b>\n</blockquote>\n<p>In doing my daily research of Apple stock&nbsp;(<b>AAPL</b>) -Get Report, I stumbled upon a gem from Ark Invest’s CEO, CIO and rockstar money manager Cathie Wood. In January 2016, during aninterviewwith CNBC, she was asked which stock seemed like a better buy at the time: AAPL or AMZN.</p>\n<p>Considering Apple stock’s loss of 5% in 2015, her response was the following:</p>\n<blockquote>\n “At this moment, […] Apple might be, because […] the thinking there is so short term. […] Apple is going to become a big company, and [the stock] has been depressed recently by channel checks: how iPhone sales will do in the first quarter, or in the second quarter.”\n</blockquote>\n<p>Since this interview, Apple share price climbed a whopping 400%-plus in just over five years.</p>\n<p><b>#1. Buying quality on weakness</b></p>\n<p>The first important lesson from Ms. Wood’s 2016 insight above is that high-quality companies, whose stocks are likely to climb over time, should be bought on weakness. The logic is simple: if the long-term trend is up, buy shares when the market is selling them at a discount.</p>\n<p>I put some numbers around this ideaa couple of months ago. Historically, it has made much more sense to buy AAPL when shares declined from a previous peak.</p>\n<p>The chart below shows the historical average one-year return in Apple stock under different scenarios. Notice that, the more shares dip, the higher the future returns have been.</p>\n<p><img src=\"https://static.tigerbbs.com/d8f3b347dced7ad7d67e5c7ef756c550\" tg-width=\"578\" tg-height=\"348\">Following the same logic, current Apple investors might be encouraged that the stock remains under water: 12% below the January 2021 top of $143. Should AAPL make fresh all-time highs soon, asI recently speculated that it could, returns for the remainder of the year may start to look appealing.</p>\n<p><b>#2. Filtering out short-term noise</b></p>\n<p>The second point made by Cathie Wood is at least as important. In her view, Apple stock was under pressure in 2015 and early 2016 due to short-term concerns over smartphone sales in the following couple of quarters, especially after the blockbuster release of the iPhone 6.</p>\n<p>In analyzing market movements, I believe it helps to think about the real drivers of share price: buyers and sellers of the stock. Sometimes, people on both sides of the transaction are more concerned about how a stock might perform in the near term, possibly hoping to make a quick buck – and this is just fine.</p>\n<p>In these cases, long-term buyers are probably better off ignoring “short term noise” about what sales or earnings might look like right around the corner. Better yet, they might want to take advantage of selling pressures created by short-term traders to enter a position at better prices.</p>\n<p>Apple might be faced with a similar setup in 2021. The chatter on Wall Street seems torevolve around the company’s follow throughto a successful pandemic year and launch of the first 5G-capable iPhone.</p>\n<p>But look beyond the next 12 months, and one might find it easier to make a bullish case on Apple stock. The company continues to grow revenues, expand margins, pile on cash, while it has yet to tap intoopportunities in mixed realityandautonomous vehicles.</p>\n<p><b>Twitter speaks</b></p>\n<p>Big Tech stocks like Amazon and Apple are a tiny piece of famed investor Cathie Wood’s ARK portfolios. In your view, which of the following FAAMG names would deserve higher allocation in a tech disrupter and innovator ETF? Leave your vote below on our partner's Twitter, @AmazonMaven.</p>\n<p><img src=\"https://static.tigerbbs.com/565580495c2d16818604c9b6d814b1db\" tg-width=\"582\" tg-height=\"480\"></p>\n<p><b>Is the price right?</b></p>\n<p>Looking at a company’s business fundamentals is only half the work needed to find a good stock. How much one pays to own the shares is a key factor in the success of any investment. This is why valuation analysis is so important.</p>\n<p>Alpha Spread’suser-friendly platform allows you to estimate a stock’s fair value –through valuation multiples, discounted cash flow, and more. I believe that the service is a must for anyone looking to own the right stock at the right price.Check out alphaspread.comand get started with a 7-day free trial.</p>","source":"lsy1610613172068","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>2 Crucial Lessons From Cathie Wood About Apple Stock</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\">\n2 Crucial Lessons From Cathie Wood About Apple Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 19:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/apple/news/2-crucial-lessons-from-cathie-wood-about-apple-stock><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cathie Wood’s ARK Invest is not much of an investor in Apple stock. But the famed fund manager has offered valuable advice about the Cupertino company’s shares that is worth revisiting.\n\nIn doing my ...</p>\n\n<a href=\"https://www.thestreet.com/apple/news/2-crucial-lessons-from-cathie-wood-about-apple-stock\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/news/2-crucial-lessons-from-cathie-wood-about-apple-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190309980","content_text":"Cathie Wood’s ARK Invest is not much of an investor in Apple stock. But the famed fund manager has offered valuable advice about the Cupertino company’s shares that is worth revisiting.\n\nIn doing my daily research of Apple stock (AAPL) -Get Report, I stumbled upon a gem from Ark Invest’s CEO, CIO and rockstar money manager Cathie Wood. In January 2016, during aninterviewwith CNBC, she was asked which stock seemed like a better buy at the time: AAPL or AMZN.\nConsidering Apple stock’s loss of 5% in 2015, her response was the following:\n\n “At this moment, […] Apple might be, because […] the thinking there is so short term. […] Apple is going to become a big company, and [the stock] has been depressed recently by channel checks: how iPhone sales will do in the first quarter, or in the second quarter.”\n\nSince this interview, Apple share price climbed a whopping 400%-plus in just over five years.\n#1. Buying quality on weakness\nThe first important lesson from Ms. Wood’s 2016 insight above is that high-quality companies, whose stocks are likely to climb over time, should be bought on weakness. The logic is simple: if the long-term trend is up, buy shares when the market is selling them at a discount.\nI put some numbers around this ideaa couple of months ago. Historically, it has made much more sense to buy AAPL when shares declined from a previous peak.\nThe chart below shows the historical average one-year return in Apple stock under different scenarios. Notice that, the more shares dip, the higher the future returns have been.\nFollowing the same logic, current Apple investors might be encouraged that the stock remains under water: 12% below the January 2021 top of $143. Should AAPL make fresh all-time highs soon, asI recently speculated that it could, returns for the remainder of the year may start to look appealing.\n#2. Filtering out short-term noise\nThe second point made by Cathie Wood is at least as important. In her view, Apple stock was under pressure in 2015 and early 2016 due to short-term concerns over smartphone sales in the following couple of quarters, especially after the blockbuster release of the iPhone 6.\nIn analyzing market movements, I believe it helps to think about the real drivers of share price: buyers and sellers of the stock. Sometimes, people on both sides of the transaction are more concerned about how a stock might perform in the near term, possibly hoping to make a quick buck – and this is just fine.\nIn these cases, long-term buyers are probably better off ignoring “short term noise” about what sales or earnings might look like right around the corner. Better yet, they might want to take advantage of selling pressures created by short-term traders to enter a position at better prices.\nApple might be faced with a similar setup in 2021. The chatter on Wall Street seems torevolve around the company’s follow throughto a successful pandemic year and launch of the first 5G-capable iPhone.\nBut look beyond the next 12 months, and one might find it easier to make a bullish case on Apple stock. The company continues to grow revenues, expand margins, pile on cash, while it has yet to tap intoopportunities in mixed realityandautonomous vehicles.\nTwitter speaks\nBig Tech stocks like Amazon and Apple are a tiny piece of famed investor Cathie Wood’s ARK portfolios. In your view, which of the following FAAMG names would deserve higher allocation in a tech disrupter and innovator ETF? Leave your vote below on our partner's Twitter, @AmazonMaven.\n\nIs the price right?\nLooking at a company’s business fundamentals is only half the work needed to find a good stock. How much one pays to own the shares is a key factor in the success of any investment. This is why valuation analysis is so important.\nAlpha Spread’suser-friendly platform allows you to estimate a stock’s fair value –through valuation multiples, discounted cash flow, and more. I believe that the service is a must for anyone looking to own the right stock at the right price.Check out alphaspread.comand get started with a 7-day free trial.","news_type":1},"isVote":1,"tweetType":1,"viewCount":544,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186552540,"gmtCreate":1623513919280,"gmtModify":1704205372306,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/186552540","repostId":"1151053377","repostType":4,"repost":{"id":"1151053377","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1623420628,"share":"https://ttm.financial/m/news/1151053377?lang=&edition=fundamental","pubTime":"2021-06-11 22:10","market":"us","language":"en","title":"Fubo TV surged over 7% in morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1151053377","media":"Tiger Newspress","summary":"(June 11) Fubo TV surged over 7% in morning trading. Days ago, Fubo launched its app on LG Electroni","content":"<p>(June 11)&nbsp;Fubo TV&nbsp;surged over 7% in morning trading.&nbsp;Days ago, Fubo launched its app on LG Electronics' webOS smart TV platform in the U.S. But outlook not yet carefree.</p>\n<p><img src=\"https://static.tigerbbs.com/227284f09c707eabfd28577428d98484\" tg-width=\"700\" tg-height=\"584\" referrerpolicy=\"no-referrer\"></p>\n<p>A streaming service with a strong focus on sports, FuboTV (<b>FUBO</b>) recently announced it would be offered on LG SmartTV’s in the U.S., increasing its customer base and brand awareness. (SeeFUBO stock analysison TipRanks)</p>\n<p>Publishing on a report on the matter,Darren Aftahiof Roth Capital Partners wrote that integration with LG “should help it grow top of funnel consumer awareness.” Aftahi maintained a Buy rating on the stock, and declared a price target of $42.</p>\n<p>Aftahi explained that consumers with LG SmartTV’s will have immediate access to free trials of FuboTV, which will be promoted for user download. This is significant as LG currently already holds about a 12% market share in the U.S. It is important to note, however, that the LG deal will only apply to models of the years 2018 through 2021.</p>\n<p>The company has been making headway as of late, but it is not without its risks, details Aftahi. FuboTV relies heavily on sports content, and any sort of stoppages in the sports world will severely disrupt its outlook on growth. Furthermore, as big-ticket events such as the Olympics were cancelled last year, similar instances occurring will directly impact subscriber growth.</p>\n<p>The analyst was also concerned about sports streaming offerings from Youtube TV and Hulu, as well as other large service providers mounting serious competition. If Fubo is unable “to differentiate its service, attract, continually engage and retain users” its outlook will be impacted for the worse.</p>\n<p>On TipRanks, FUBO has an analyst rating consensus of Strong Buy, based on 6 Buy and 1 hold ratings. Theaverage analyst FUBO price targetis $38.86 per share, reflecting a potential 12-month upside of 29.2%.</p>\n<p><img src=\"https://static.tigerbbs.com/99e7b4b19ad5a7bfcea122fd8eeee10b\" tg-width=\"959\" tg-height=\"528\"></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>Fubo TV surged over 7% in morning trading</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\">\nFubo TV surged over 7% in morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-11 22:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(June 11)&nbsp;Fubo TV&nbsp;surged over 7% in morning trading.&nbsp;Days ago, Fubo launched its app on LG Electronics' webOS smart TV platform in the U.S. But outlook not yet carefree.</p>\n<p><img src=\"https://static.tigerbbs.com/227284f09c707eabfd28577428d98484\" tg-width=\"700\" tg-height=\"584\" referrerpolicy=\"no-referrer\"></p>\n<p>A streaming service with a strong focus on sports, FuboTV (<b>FUBO</b>) recently announced it would be offered on LG SmartTV’s in the U.S., increasing its customer base and brand awareness. (SeeFUBO stock analysison TipRanks)</p>\n<p>Publishing on a report on the matter,Darren Aftahiof Roth Capital Partners wrote that integration with LG “should help it grow top of funnel consumer awareness.” Aftahi maintained a Buy rating on the stock, and declared a price target of $42.</p>\n<p>Aftahi explained that consumers with LG SmartTV’s will have immediate access to free trials of FuboTV, which will be promoted for user download. This is significant as LG currently already holds about a 12% market share in the U.S. It is important to note, however, that the LG deal will only apply to models of the years 2018 through 2021.</p>\n<p>The company has been making headway as of late, but it is not without its risks, details Aftahi. FuboTV relies heavily on sports content, and any sort of stoppages in the sports world will severely disrupt its outlook on growth. Furthermore, as big-ticket events such as the Olympics were cancelled last year, similar instances occurring will directly impact subscriber growth.</p>\n<p>The analyst was also concerned about sports streaming offerings from Youtube TV and Hulu, as well as other large service providers mounting serious competition. If Fubo is unable “to differentiate its service, attract, continually engage and retain users” its outlook will be impacted for the worse.</p>\n<p>On TipRanks, FUBO has an analyst rating consensus of Strong Buy, based on 6 Buy and 1 hold ratings. Theaverage analyst FUBO price targetis $38.86 per share, reflecting a potential 12-month upside of 29.2%.</p>\n<p><img src=\"https://static.tigerbbs.com/99e7b4b19ad5a7bfcea122fd8eeee10b\" tg-width=\"959\" tg-height=\"528\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FUBO":"fuboTV Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151053377","content_text":"(June 11) Fubo TV surged over 7% in morning trading. Days ago, Fubo launched its app on LG Electronics' webOS smart TV platform in the U.S. But outlook not yet carefree.\n\nA streaming service with a strong focus on sports, FuboTV (FUBO) recently announced it would be offered on LG SmartTV’s in the U.S., increasing its customer base and brand awareness. (SeeFUBO stock analysison TipRanks)\nPublishing on a report on the matter,Darren Aftahiof Roth Capital Partners wrote that integration with LG “should help it grow top of funnel consumer awareness.” Aftahi maintained a Buy rating on the stock, and declared a price target of $42.\nAftahi explained that consumers with LG SmartTV’s will have immediate access to free trials of FuboTV, which will be promoted for user download. This is significant as LG currently already holds about a 12% market share in the U.S. It is important to note, however, that the LG deal will only apply to models of the years 2018 through 2021.\nThe company has been making headway as of late, but it is not without its risks, details Aftahi. FuboTV relies heavily on sports content, and any sort of stoppages in the sports world will severely disrupt its outlook on growth. Furthermore, as big-ticket events such as the Olympics were cancelled last year, similar instances occurring will directly impact subscriber growth.\nThe analyst was also concerned about sports streaming offerings from Youtube TV and Hulu, as well as other large service providers mounting serious competition. If Fubo is unable “to differentiate its service, attract, continually engage and retain users” its outlook will be impacted for the worse.\nOn TipRanks, FUBO has an analyst rating consensus of Strong Buy, based on 6 Buy and 1 hold ratings. Theaverage analyst FUBO price targetis $38.86 per share, reflecting a potential 12-month upside of 29.2%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":721,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186550441,"gmtCreate":1623513572283,"gmtModify":1704205363901,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"risky!","listText":"risky!","text":"risky!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/186550441","repostId":"1115909292","repostType":4,"repost":{"id":"1115909292","kind":"news","pubTimestamp":1623413127,"share":"https://ttm.financial/m/news/1115909292?lang=&edition=fundamental","pubTime":"2021-06-11 20:05","market":"us","language":"en","title":"Jeff Bezos is going to space for 11 minutes. Here's how risky that is","url":"https://stock-news.laohu8.com/highlight/detail?id=1115909292","media":"cnn","summary":"New York (CNN Business)Jeff Bezos can have anything. He could circle the globe in a private jet or s","content":"<p>New York (CNN Business)Jeff Bezos can have anything. He could circle the globe in a private jet or sail it forever in a fleet of megayachts. He could afford to buy a the whole NFL; he could buy an archipelago for his family and friends; he could buy over 65,000 Bugatti Chirons (base price $2.9 million), even though only 500 are being built. As the world's richest person, the possibilities are endless. But Bezos appears ready to risk it all for an 11-minute ride to space.</p>\n<p><b>Just how risky is his decision?</b></p>\n<p>The answer isn't what you might expect. Space travel is, historically, fraught with danger. Though the risks are not necessarily astronomical for Bezos' jaunt to the cosmos, as his space company Blue Origin has spent the better part of the last decade running the suborbital New Shepard rocket he'll be riding on through a series of successful test flights. (Also, being in space is Bezos' lifelong dream.)</p>\n<p>Still, what Bezos, his brother Mark Bezos, and the winner of an online auction, will be doing -- going on the very first crewed flight of New Shepard, a fully autonomous suborbital rocket and spacecraft system designed to take ticket holders on brief joy rides to space -- is not entirely without risk.</p>\n<p>Here's what Bezos' flight will look like and the extent to which people are taking their lives in their hands when they go to outer space these days.</p>\n<p><b>What the flight looks like</b></p>\n<p>When most people think about spaceflight, they think about an astronaut circling the Earth, floating in space, for at least a few days.</p>\n<p>That is not what the Bezos brothers and their fellow passengers will be doing .</p>\n<p>They'll be going up and coming right back down, and they'll be doing it in less time -- about 11 minutes -- than it takes most people to get to work.</p>\n<p>Suborbital flights differ greatly from orbital flights of the type most of us think of when we think of spaceflight. Blue Origin's New Shepard flights will be brief, up-and-down trips, though they will go more than 62 miles above Earth, which is widely considered to be the edge of outer space.</p>\n<p>Orbital rockets need to drum up enough power to hit at least 17,000 miles per hour, or what's known as orbital velocity, essentially giving a spacecraft enough energy to continue whipping around the Earth rather than being dragged immediately back down by gravity.</p>\n<p>Suborbital flights require far less power and speed. That means less time the rocket is required to burn, lower temperatures scorching the outside of the spacecraft, less force and compression ripping at the spacecraft, and generally fewer opportunities for something to go very wrong.</p>\n<p>New Shepard's suborbital fights hit about about three times the speed of sound — roughly 2,300 miles per hour — and fly directly upward until the rocket expends most of its fuel. The crew capsule will then separate from the rocket at the top of the trajectory and briefly continue upward before the capsule almost hovers at the top of its flight path, giving the passengers a few minutes of weightlessness. It works sort of like an extended version of the weightlessness you experience when you reach the peak of a roller coaster hill, just before gravity brings your cart — or, in Bezos' case, your space capsule -- screaming back down toward the ground.</p>\n<p><img src=\"https://static.tigerbbs.com/1aeef7cd6efed45b4f08991c7c4b7be4\" tg-width=\"780\" tg-height=\"438\"></p>\n<p>The New Shepard capsule then deploys a large plume of parachutes to slow its descent to less than 20 miles per hour before it hits the ground.</p>\n<p>The rocket, flying separately, re-ignites its engines and uses its on-board computers to execute a pinpoint, upright landing. The booster landing looks similar to what SpaceX does with its Falcon 9 rockets, though those rockets are far more powerful than New Shepard and — yes — more prone to exploding on impact.</p>\n<p><b>How big are the risks?</b></p>\n<p>Blue Origin's New Shepard capsule, which is fully autonomous and does not require a pilot, has never had an explosive mishap in 15 test flights. And the nature of Bezos' flight means it comes with some inherently lower risks than more ambitious space travel attempts. But that doesn't mean the risk is zero, either.</p>\n<p>Because suborbital flights don't require as much speed or the intense process of trying to re-enter the Earth's atmosphere at incredible speeds, they're considered much less risky than orbital flights. With an orbital re-entry, a spacecraft's external temperatures can reach up to 3,500 degrees Fahrenheit, and astronauts can experience 4.5 Gs of force that is also placed upon the spacecraft, all while the ever-thickening atmosphere whips around the capsule.</p>\n<p>High speeds and high altitudes come with inherent risks, and even small errors can have big consequences. Earth's atmosphere is generally not considered survivable for significant amounts of time above altitudes of 50,000 feet without a spacesuit, and Bezos will be traveling up to 350,000 feet. But the capsule he travels in will be pressurized, so he doesn't need a special suit to keep him safe, and he'll have access to an oxygen mask if the cabin loses pressure. The spacecraft is also equipped with an abort system designed to jettison the New Shepard capsule and passengers away from the rocket in case of emergency. There's also back-up safety features to help the capsule land gently even if a couple of its parachutes fail to deploy.</p>\n<p>But even still, there is no way to absolutely guarantee safety should New Shepard malfunction.</p>\n<p>Even though suborbital flights are less risky than orbital missions, they can still be deadly.</p>\n<p>One of Virgin Galactic's suborbital space planes, for example, broke apart in 2014 when one of the vehicle's copilots prematurely deployed the feathering system designed to keep the craft stable as it made its descent. The added drag on the plane ripped it to pieces, killing one of the pilots.</p>\n<p>(Blue Origin competitor Virgin Galactic has since had three successful test flights of a revamped version of its SpaceShipTwo space plane.)</p>\n<p>Blue Origin has not encountered similar tragic accidents during its testing phase, though — as an old industry adage goes — space is hard.</p>\n<p>But, Bezos has indicated, the risk is worth it.</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>Jeff Bezos is going to space for 11 minutes. Here's how risky that is</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\">\nJeff Bezos is going to space for 11 minutes. Here's how risky that is\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 20:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://edition.cnn.com/2021/06/10/tech/jeff-bezos-blue-origin-flight-risk-scn/index.html><strong>cnn</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New York (CNN Business)Jeff Bezos can have anything. He could circle the globe in a private jet or sail it forever in a fleet of megayachts. He could afford to buy a the whole NFL; he could buy an ...</p>\n\n<a href=\"https://edition.cnn.com/2021/06/10/tech/jeff-bezos-blue-origin-flight-risk-scn/index.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://edition.cnn.com/2021/06/10/tech/jeff-bezos-blue-origin-flight-risk-scn/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115909292","content_text":"New York (CNN Business)Jeff Bezos can have anything. He could circle the globe in a private jet or sail it forever in a fleet of megayachts. He could afford to buy a the whole NFL; he could buy an archipelago for his family and friends; he could buy over 65,000 Bugatti Chirons (base price $2.9 million), even though only 500 are being built. As the world's richest person, the possibilities are endless. But Bezos appears ready to risk it all for an 11-minute ride to space.\nJust how risky is his decision?\nThe answer isn't what you might expect. Space travel is, historically, fraught with danger. Though the risks are not necessarily astronomical for Bezos' jaunt to the cosmos, as his space company Blue Origin has spent the better part of the last decade running the suborbital New Shepard rocket he'll be riding on through a series of successful test flights. (Also, being in space is Bezos' lifelong dream.)\nStill, what Bezos, his brother Mark Bezos, and the winner of an online auction, will be doing -- going on the very first crewed flight of New Shepard, a fully autonomous suborbital rocket and spacecraft system designed to take ticket holders on brief joy rides to space -- is not entirely without risk.\nHere's what Bezos' flight will look like and the extent to which people are taking their lives in their hands when they go to outer space these days.\nWhat the flight looks like\nWhen most people think about spaceflight, they think about an astronaut circling the Earth, floating in space, for at least a few days.\nThat is not what the Bezos brothers and their fellow passengers will be doing .\nThey'll be going up and coming right back down, and they'll be doing it in less time -- about 11 minutes -- than it takes most people to get to work.\nSuborbital flights differ greatly from orbital flights of the type most of us think of when we think of spaceflight. Blue Origin's New Shepard flights will be brief, up-and-down trips, though they will go more than 62 miles above Earth, which is widely considered to be the edge of outer space.\nOrbital rockets need to drum up enough power to hit at least 17,000 miles per hour, or what's known as orbital velocity, essentially giving a spacecraft enough energy to continue whipping around the Earth rather than being dragged immediately back down by gravity.\nSuborbital flights require far less power and speed. That means less time the rocket is required to burn, lower temperatures scorching the outside of the spacecraft, less force and compression ripping at the spacecraft, and generally fewer opportunities for something to go very wrong.\nNew Shepard's suborbital fights hit about about three times the speed of sound — roughly 2,300 miles per hour — and fly directly upward until the rocket expends most of its fuel. The crew capsule will then separate from the rocket at the top of the trajectory and briefly continue upward before the capsule almost hovers at the top of its flight path, giving the passengers a few minutes of weightlessness. It works sort of like an extended version of the weightlessness you experience when you reach the peak of a roller coaster hill, just before gravity brings your cart — or, in Bezos' case, your space capsule -- screaming back down toward the ground.\n\nThe New Shepard capsule then deploys a large plume of parachutes to slow its descent to less than 20 miles per hour before it hits the ground.\nThe rocket, flying separately, re-ignites its engines and uses its on-board computers to execute a pinpoint, upright landing. The booster landing looks similar to what SpaceX does with its Falcon 9 rockets, though those rockets are far more powerful than New Shepard and — yes — more prone to exploding on impact.\nHow big are the risks?\nBlue Origin's New Shepard capsule, which is fully autonomous and does not require a pilot, has never had an explosive mishap in 15 test flights. And the nature of Bezos' flight means it comes with some inherently lower risks than more ambitious space travel attempts. But that doesn't mean the risk is zero, either.\nBecause suborbital flights don't require as much speed or the intense process of trying to re-enter the Earth's atmosphere at incredible speeds, they're considered much less risky than orbital flights. With an orbital re-entry, a spacecraft's external temperatures can reach up to 3,500 degrees Fahrenheit, and astronauts can experience 4.5 Gs of force that is also placed upon the spacecraft, all while the ever-thickening atmosphere whips around the capsule.\nHigh speeds and high altitudes come with inherent risks, and even small errors can have big consequences. Earth's atmosphere is generally not considered survivable for significant amounts of time above altitudes of 50,000 feet without a spacesuit, and Bezos will be traveling up to 350,000 feet. But the capsule he travels in will be pressurized, so he doesn't need a special suit to keep him safe, and he'll have access to an oxygen mask if the cabin loses pressure. The spacecraft is also equipped with an abort system designed to jettison the New Shepard capsule and passengers away from the rocket in case of emergency. There's also back-up safety features to help the capsule land gently even if a couple of its parachutes fail to deploy.\nBut even still, there is no way to absolutely guarantee safety should New Shepard malfunction.\nEven though suborbital flights are less risky than orbital missions, they can still be deadly.\nOne of Virgin Galactic's suborbital space planes, for example, broke apart in 2014 when one of the vehicle's copilots prematurely deployed the feathering system designed to keep the craft stable as it made its descent. The added drag on the plane ripped it to pieces, killing one of the pilots.\n(Blue Origin competitor Virgin Galactic has since had three successful test flights of a revamped version of its SpaceShipTwo space plane.)\nBlue Origin has not encountered similar tragic accidents during its testing phase, though — as an old industry adage goes — space is hard.\nBut, Bezos has indicated, the risk is worth it.","news_type":1},"isVote":1,"tweetType":1,"viewCount":309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181261192,"gmtCreate":1623396950116,"gmtModify":1704202489328,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"nice analysis","listText":"nice analysis","text":"nice analysis","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/181261192","repostId":"2142524078","repostType":4,"repost":{"id":"2142524078","kind":"highlight","pubTimestamp":1623379800,"share":"https://ttm.financial/m/news/2142524078?lang=&edition=fundamental","pubTime":"2021-06-11 10:50","market":"us","language":"en","title":"Prediction: Amazon Will Hit $10,000 by 2025","url":"https://stock-news.laohu8.com/highlight/detail?id=2142524078","media":"Motley Fool","summary":"Amazon at $10,000 in four years might sound outrageous, but it's actually saner than you realize.","content":"<p>The stock market offers few guarantees. However, there is <a href=\"https://laohu8.com/S/AONE\">one</a> exception: Change is constant.</p>\n<p>Looking back, it's not uncommon to see the market's 10 largest companies by market cap completely reshuffle every five or 10 years. Innovation, competitive advantages, and acquisitions, among other factors, regularly crown new superstars and pull the rug out from beneath widely held companies.</p>\n<p>It's my belief that e-commerce giant <b>Amazon</b> (NASDAQ:AMZN) is on track to soon surpass both <b>Microsoft</b>&nbsp;and <b>Apple</b>&nbsp;to become the largest publicly traded company. And that's not all. Between now and 2025, I predict Amazon will hit $10,000 a share. This would give the company a $5 trillion market cap.</p>\n<p>Sound outrageous or too good to be true? I'm about to show you why $10,000 by 2025 is saner than you think.</p>\n<h2>Amazon's online market share is unrivaled</h2>\n<p>Let's start by examining Amazon's two (yes, <i>two</i>) dominant operating models.</p>\n<p>Most people are probably very familiar with Amazon's online marketplace. According to data found on statistics-aggregator Statista, nearly 215 million people visited Amazon's online sites in December 2019. We can probably safely assume this figure moved substantially higher throughout 2020, with consumers stuck in their homes due to the coronavirus pandemic.</p>\n<p>Yet this isn't the jaw-dropping figure. What's even more impressive is that Amazon controls an estimated 40.4% of all online sales in the U.S., according to an April 2021 report from eMarketer. Think about this for a moment: $0.40 of every $1 spent online in the U.S. is being routed through Amazon, and the company's market share keeps inching higher.</p>\n<p>While it's great to be the go-to source for e-commerce, Amazon is also acutely aware of how razor thin retail margins can be. It's helped offset this by pushing its Prime membership.</p>\n<p>With Prime, members enjoy free two-day shipping, the unlimited streaming of movies and videos on Prime Video, and multiple deals and discounts when shopping. For Amazon, Prime helps the company generate tens of billions of dollars in additional revenue. With more than 200 million Prime members worldwide, Amazon is able to use the revenue from Prime to undercut brick-and-mortar retailers on price. It also doesn't hurt that Prime members have added incentive to spend more and to stay within Amazon's ecosystem of products and services.</p>\n<h2>AWS is becoming a more important puzzle piece</h2>\n<p>But Amazon is about far more than just its dominant online marketplace. The company's cloud infrastructure segment, Amazon Web Services (AWS), is also an absolute beast.</p>\n<p>According to global technology-analysis company Canalys, worldwide cloud revenue spending in the first quarter of 2021 totaled $41.8 billion. Of that nearly $42 billion, Google Cloud (a division of <b>Alphabet</b>) accounted for 7%, Microsoft Azure was responsible for 19%, and AWS stood tall with a 32% market share!</p>\n<p>With the pandemic wreaking havoc on traditional workplaces, businesses of all sizes have been pushing online and into the cloud to reach customers. That's meant sustainably high demand for AWS, which provides everything from database storage and content delivery to advanced analytics and management tools.</p>\n<p>How impressive has AWS been for Amazon? During the worst economic downturn in decades in 2020, AWS <i>still</i> grew sales by 30%. Revenue jumped another 32% in the first quarter of 2021, which pushed its annual sales run rate to about $54 billion.</p>\n<p>What's important to realize about AWS is that the margins associated with cloud infrastructure services are light years higher than Amazon's online marketplace. Even though AWS accounted for \"just\" $13.5 billion of the company's $108.5 billion in net sales in Q1 2021, it produced close to $4.2 billion in operating income. Amazon's other businesses, which yielded $95 billion in revenue, produced only $4.7 billion in operating income. In short, as AWS grows into a large percentage of total sales, operating income and cash flow will grow at a much faster rate than the company's total sales.</p>\n<h2>Amazon at $10,000 by 2025 is a very real possibility</h2>\n<p>Here's where things get interesting. It's no secret that Amazon's valuation doesn't make much sense using traditional fundamental analysis. This is to say that its price-to-earnings ratio and book value have always been in nosebleed territory. However, neither measure serves much purpose when we're talking about a nontraditional, fast-growing business. Since Amazon chooses to reinvest a majority of its capital, operating cash flow and historic operating cash flow multiples are considerably better measures of value for the company.</p>\n<p>Dating back to 2010, Amazon has ended each of the past 11 years at a multiple relative to its operating cash flow of between 23 and 37. Again, from a fundamental perspective, this might seem high. But given Amazon's utter dominance in e-commerce and cloud infrastructure services, it's a multiple that Wall Street and investors have been perfectly willing to support for more than a decade.</p>\n<p>As we look to 2021 and beyond, Wall Street is crystal clear that it expects AWS to help more than double Amazon's cash flow per share. Keeping in mind that estimates are fluid, here's what analysts are looking for, in terms of cash flow per share, through 2025, courtesy of <b>FactSet</b>:</p>\n<ul>\n <li><b>2021:</b> $153.73 consensus cash flow per share (CFPS)</li>\n <li><b>2022:</b> $192.99 consensus CFPS</li>\n <li><b>2023:</b> $234.91 consensus CFPS</li>\n <li><b>2024:</b> $294.30 consensus CFPS</li>\n <li><b>2025:</b> $341.70 consensus CFPS</li>\n</ul>\n<p>If Amazon were to simply remain valued at the median of its operating cash flow multiple (30) over the past 11 years (the midpoint between 23 and 37), the $341.70 in CFPS that it's estimated by Wall Street to bring in by 2025 would lead to a share price of (drum roll) $10,251.</p>\n<p>Amazon at $10,000 might seem like a pie-in-the-sky number, but it would be right in line with how investors have always valued the company. As long as AWS keeps growing by close to 30%, Amazon at $10,000 by 2025 becomes a very achievable target over the next four years.</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>Prediction: Amazon Will Hit $10,000 by 2025</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\">\nPrediction: Amazon Will Hit $10,000 by 2025\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 10:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/10/prediction-amazon-will-hit-10000-by-2025/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The stock market offers few guarantees. However, there is one exception: Change is constant.\nLooking back, it's not uncommon to see the market's 10 largest companies by market cap completely reshuffle...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/10/prediction-amazon-will-hit-10000-by-2025/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09086":"华夏纳指-U","AMZN":"亚马逊","AAPL":"苹果","03086":"华夏纳指"},"source_url":"https://www.fool.com/investing/2021/06/10/prediction-amazon-will-hit-10000-by-2025/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142524078","content_text":"The stock market offers few guarantees. However, there is one exception: Change is constant.\nLooking back, it's not uncommon to see the market's 10 largest companies by market cap completely reshuffle every five or 10 years. Innovation, competitive advantages, and acquisitions, among other factors, regularly crown new superstars and pull the rug out from beneath widely held companies.\nIt's my belief that e-commerce giant Amazon (NASDAQ:AMZN) is on track to soon surpass both Microsoft and Apple to become the largest publicly traded company. And that's not all. Between now and 2025, I predict Amazon will hit $10,000 a share. This would give the company a $5 trillion market cap.\nSound outrageous or too good to be true? I'm about to show you why $10,000 by 2025 is saner than you think.\nAmazon's online market share is unrivaled\nLet's start by examining Amazon's two (yes, two) dominant operating models.\nMost people are probably very familiar with Amazon's online marketplace. According to data found on statistics-aggregator Statista, nearly 215 million people visited Amazon's online sites in December 2019. We can probably safely assume this figure moved substantially higher throughout 2020, with consumers stuck in their homes due to the coronavirus pandemic.\nYet this isn't the jaw-dropping figure. What's even more impressive is that Amazon controls an estimated 40.4% of all online sales in the U.S., according to an April 2021 report from eMarketer. Think about this for a moment: $0.40 of every $1 spent online in the U.S. is being routed through Amazon, and the company's market share keeps inching higher.\nWhile it's great to be the go-to source for e-commerce, Amazon is also acutely aware of how razor thin retail margins can be. It's helped offset this by pushing its Prime membership.\nWith Prime, members enjoy free two-day shipping, the unlimited streaming of movies and videos on Prime Video, and multiple deals and discounts when shopping. For Amazon, Prime helps the company generate tens of billions of dollars in additional revenue. With more than 200 million Prime members worldwide, Amazon is able to use the revenue from Prime to undercut brick-and-mortar retailers on price. It also doesn't hurt that Prime members have added incentive to spend more and to stay within Amazon's ecosystem of products and services.\nAWS is becoming a more important puzzle piece\nBut Amazon is about far more than just its dominant online marketplace. The company's cloud infrastructure segment, Amazon Web Services (AWS), is also an absolute beast.\nAccording to global technology-analysis company Canalys, worldwide cloud revenue spending in the first quarter of 2021 totaled $41.8 billion. Of that nearly $42 billion, Google Cloud (a division of Alphabet) accounted for 7%, Microsoft Azure was responsible for 19%, and AWS stood tall with a 32% market share!\nWith the pandemic wreaking havoc on traditional workplaces, businesses of all sizes have been pushing online and into the cloud to reach customers. That's meant sustainably high demand for AWS, which provides everything from database storage and content delivery to advanced analytics and management tools.\nHow impressive has AWS been for Amazon? During the worst economic downturn in decades in 2020, AWS still grew sales by 30%. Revenue jumped another 32% in the first quarter of 2021, which pushed its annual sales run rate to about $54 billion.\nWhat's important to realize about AWS is that the margins associated with cloud infrastructure services are light years higher than Amazon's online marketplace. Even though AWS accounted for \"just\" $13.5 billion of the company's $108.5 billion in net sales in Q1 2021, it produced close to $4.2 billion in operating income. Amazon's other businesses, which yielded $95 billion in revenue, produced only $4.7 billion in operating income. In short, as AWS grows into a large percentage of total sales, operating income and cash flow will grow at a much faster rate than the company's total sales.\nAmazon at $10,000 by 2025 is a very real possibility\nHere's where things get interesting. It's no secret that Amazon's valuation doesn't make much sense using traditional fundamental analysis. This is to say that its price-to-earnings ratio and book value have always been in nosebleed territory. However, neither measure serves much purpose when we're talking about a nontraditional, fast-growing business. Since Amazon chooses to reinvest a majority of its capital, operating cash flow and historic operating cash flow multiples are considerably better measures of value for the company.\nDating back to 2010, Amazon has ended each of the past 11 years at a multiple relative to its operating cash flow of between 23 and 37. Again, from a fundamental perspective, this might seem high. But given Amazon's utter dominance in e-commerce and cloud infrastructure services, it's a multiple that Wall Street and investors have been perfectly willing to support for more than a decade.\nAs we look to 2021 and beyond, Wall Street is crystal clear that it expects AWS to help more than double Amazon's cash flow per share. Keeping in mind that estimates are fluid, here's what analysts are looking for, in terms of cash flow per share, through 2025, courtesy of FactSet:\n\n2021: $153.73 consensus cash flow per share (CFPS)\n2022: $192.99 consensus CFPS\n2023: $234.91 consensus CFPS\n2024: $294.30 consensus CFPS\n2025: $341.70 consensus CFPS\n\nIf Amazon were to simply remain valued at the median of its operating cash flow multiple (30) over the past 11 years (the midpoint between 23 and 37), the $341.70 in CFPS that it's estimated by Wall Street to bring in by 2025 would lead to a share price of (drum roll) $10,251.\nAmazon at $10,000 might seem like a pie-in-the-sky number, but it would be right in line with how investors have always valued the company. As long as AWS keeps growing by close to 30%, Amazon at $10,000 by 2025 becomes a very achievable target over the next four years.","news_type":1},"isVote":1,"tweetType":1,"viewCount":328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186541603,"gmtCreate":1623514209402,"gmtModify":1704205381439,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/186541603","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":505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186555679,"gmtCreate":1623513947791,"gmtModify":1704205373601,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/186555679","repostId":"2142457201","repostType":2,"repost":{"id":"2142457201","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623428639,"share":"https://ttm.financial/m/news/2142457201?lang=&edition=fundamental","pubTime":"2021-06-12 00:23","market":"us","language":"en","title":"LIVE MARKETS-Investors take a spin at the meme-stock casino","url":"https://stock-news.laohu8.com/highlight/detail?id=2142457201","media":"Reuters","summary":"* Nasdaq edges up, S&P 500 slips, Dow off ~0.3%; small caps gain   * Healthcare weakest major S&P se","content":"<html><body><p>* Nasdaq edges up, S&amp;P 500 slips, Dow off ~0.3%; small caps gain</p><p>   * Healthcare weakest major S&amp;P sector; tech leads gainers</p><p>   * Dollar, crude up; gold down; bitcoin ~flat</p><p>   * U.S. 10-Year Treasury yield ~1.47%</p><p>    June 11 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com </p><p>   INVESTORS TAKE A SPIN AT THE MEME-STOCK CASINO (1219 EDT/1619 GMT)</p><p>   As part of the most recent American Association of Individual Investors (AAII) sentiment survey  , AAII polled its members for their thoughts on so-called \"meme stocks\", which includes such names as AMC Entertainment   </p><p>, GameStop   , and BlackBerry</p><p> , etc.   </p><p>   AAII reported that three out of 10 respondents (30%) said they felt that meme stocks were \"purely speculative and dangerous.\" Many within this group also described investing in meme stocks as a form of \"gambling.\"</p><p>   An additional 13% of respondents maintained a cautionary outlook on the group, calling them \"foolish and teaching poor investing habits.\" Another 11% of respondents stated that meme stocks pointed to negative market trends, indicating that these investments may lead to \"a speculative bubble or overall market volatility.\"</p><p>   Meanwhile, 23% of respondents said that they had no specific knowledge or interest in these particular stocks as they don't fit with their investing goals. About 15% of respondents had a somewhat positive to completely positive outlook on them, saying that these types of investments could be rewarding if handled correctly.</p><p>   Here are a few quotes from investors on the matter:</p><p>   \"Gambling—pure and simple. Some will win, some will lose and not all will have a good time.\"</p><p>   \"Kind of scary actually. They are highly volatile, and I fear the volatility can transfer into regular stocks.\"</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   STOXX 600: BIT BY BIT, IT ADDS UP! (1148 EDT/1548 GMT)</p><p>   The pan-European index secured its fourth weekly gain in a row and closed at a new record high at 457, up 0.7% on the day. </p><p>   It's fair to say that this week's rise of 1.1% is not spectacular but added to the 0.8%, 1% and 0.4% scored each of the last three Fridays, it adds up! </p><p>   Among the indexes shining is France's CAC 40 which has claimed the 6,600 bar, its highest since September 2000. </p><p>   Overall, European shares are now trading at levels only a month ago many investors expected them to be towards the end of 2021. </p><p>   While many analysts are probably considering revising their targets now, some of the caution across the market can probably be explained by reluctance to buy at a possible peak. </p><p>   There's also some growing doubt on the reopening trade with the exponential spread of the so-called Delta variant in the UK.</p><p>   Michael Hewson, a market analyst at CMC Markets noted some underperformance in the travel and leisure sector. </p><p>   \"Delays to reopening prompted British Airways to put some of their staff back on furlough, while the likes of Cineworld and Wagamama’s owner Restaurant Group (are) down again for the second day in succession as fears grow that next week’s announcement of a wholesale 21st June unlock becomes less likely\". </p><p>   (Julien Ponthus) </p><p>   *****</p><p>   EL SALVADOR COULD SPARK \"CRYPTO-FRIENDLY\" STAMPEDE WHILE THE U.S. LAGS (1130 EDT/1530 GMT)</p><p>   El Salvador’s historic decision to make bitcoin legal tender could set off a rush of countries competing to be the most “crypto friendly” while the U.S. drags its feet on regulatory issues, according to Kevin Kelly, co-founder and head of global macro strategy at Delphi Digital.</p><p>   This could increase pressure on U.S. regulators to accommodate crypto enthusiasts, he added. </p><p>   “Eventually regulators will be forced to tailor the rules, otherwise they face the risk of talent flight to other more favorable countries,” Kelly told the Reuters Global Markets Forum  in an interview. </p><p>   El Salvador's decision has come with its fair share of criticism, including from the Bank for International Settlements' Benoit Coeure, who called it an \"interesting experiment\" with a \"speculative asset.\"  </p><p>   Bitcoin rose following El Salvador's decision, but remains almost 42% below its all-time high hit in April. </p><p>   While Kelly sees bitcoin eventually jumping back above $60,000, he sees potential for another sell-off. </p><p>   \"One of the big reasons for the latest sell-off was the build-up of excessive leverage, when everyone is leveraged long, it's a matter of when -- not if -- a major correction will take place... if we look back historically at similar drawdowns there's evidence we may be in for another sell-off,\" he said. </p><p>   Meanwhile, Kelly sees cryptocurrencies gaining long-term support as investors search for alternative assets that provide more yield than bonds, particularly sovereign debt. </p><p>   However, the slowdown in monetary growth could limit bitcoin's short term gains. </p><p>   \"If you compare bitcoin to the year on year growth in major central bank balance sheets, you'll see that bitcoin's price peaks tend to coincide with a deceleration in central bank asset growth, which is similar to what we're seeing today,\" he added. </p><p>   (Lisa Mattackal)</p><p>   *****</p><p>    UMICH: CONSUMERS, ALONG WITH MARKETS, OBSESS OVER THE \"I\" WORD (1055 EDT/1455 GMT)</p><p>   Market participants headed toward the weekend with modestly upbeat news about the mindset of the American consumer, who is responsible for about 70% of the U.S. economy.</p><p>   The University of Michigan's preliminary take on Consumer Sentiment    for June increased to a reading of 86.4, beating the 84 consensus.</p><p>   While the \"current conditions\" component's gain came in lower than anticipated, \"expectations\" surpassed estimates, suggesting consumers, increasingly inoculated and flush with stimulus cash and savings, see brighter days ahead.</p><p>   \"The early June gain was mainly among middle and upper income households and for future economic prospects rather than current conditions,\" writes Richard Curtin, chief economist at UMich's Surveys of Consumers. \"Stronger growth in the national economy was anticipated, with an all-time record number of consumers anticipating a net decline in unemployment.\"</p><p>   With few other things to fret about and indexes floating near all-time highs, market participants have been obsessing in recent weeks over the \"I\" word, inflation that is.</p><p>   While the demand dam is bursting as Americans economically re-engage, the supply side of the equation is struggling to meet it, resulting in the price spikes seen in recent data, notably Thursday's CPI report.</p><p>   In fact, Oxford Economics' most recent recovery tracker, which follows 23 discrete economic metrics and groups them into six baskets, shows the demand component was the biggest gainer, and is now at 106.3% compared with the beginning of 2020.</p><p>   But both consumers and investors increasingly appear to be buying into the Fed's assurances that these price spikes won't metastasize into long-term inflation.</p><p>   The UMich report shows <a href=\"https://laohu8.com/S/AONE\">one</a>-year and five-year inflation expectations ticked down this month, to 4.0% and 2.8%, respectively. Still, those numbers are above the central bank's average annual 2% inflation target.</p><p>   \"Rising inflation remained a top concern of consumers, although the expected rate of inflation declined in early June,\" Curtin adds. \"Spontaneous references to market prices for homes, vehicles, and household durables fell to their worst level since the all-time record in November 1974.\"</p><p>   U.S. stocks are mixed in mid-morning trading, with the major indexes slipping into the red.</p><p>   Tech   , small caps    and transports    are among the gainers.</p><p>   (Stephen Culp)</p><p>   *****</p><p>   INVESTORS CROWD THE FENCE (1001 EDT/1401 GMT)</p><p>   The percentage of individual investors characterizing their short-term outlook for the U.S. stock market as \"neutral\" approached 40% in the latest American Association of Individual Investors Sentiment Survey. With this, pessimism also bounced, while optimism fell.   </p><p>   AAII reported that neutral sentiment, or expectations that stock prices will be essentially flat over the next six months, increased 2.9 percentage points to 39.1%. This is the highest reading since January 1, 2020 (40.9%). Neutral sentiment is above its historical average of 31.5% for the seventh consecutive week but just the eighth time this year.</p><p>   Bearish sentiment, or expectations that stock prices will decline over the next six months, edged up 0.9 percentage points to 20.7%. Bearish sentiment is below its historical average of 30.5% for the 18th consecutive week.</p><p>   Bullish sentiment, or expectations that stock prices will gain over the next six months, fell 3.8 percentage points to 40.2%. Optimism remains above its historical average of 38.0% for the 25th week out of the past 30 weeks.</p><p>   AAII noted that, at current levels, pessimism remains unusually low. \"Historically, below-average readings for bearish sentiment have been followed by below-average six- and 12-month returns for the S&amp;P 500 index.\" </p><p>   With these changes, the bull-bear spread fell to +19.5 from +24.3 last week:</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   TECH VS BANKS: HAS THE SWITCH FLIPPED? (0900 EDT/1300 GMT)</p><p>   Since tech peaked vs financials and banks in September of last year  , growth has been on the back foot vs value. However, with the U.S. 10-Year Treasury yield    hitting 3-month lows, tech, and growth, are enjoying a bit of a reprieve vs banks and value.  </p><p>   Indeed, the tech   /banks    ratio is currently on pace for its best weekly performance since mid-January. On a monthly basis, it is tracking its biggest rise since August of last year.</p><p>   That said, tech may still have work to do on the charts to suggest a more enduring relative low vs banks is in:</p><p>   The ratio is attempting to turn up well ahead of a 15-year log-scale support line, as well as the Y2K tech bubble and financial crisis peaks, which should now also act as support levels.</p><p>   However, the ratio remains well below its descending 200-day moving average.</p><p>   There certainly is room for a greater relative comeback, if the ratio rises to close the gap with this long-term moving average. But until the 200-DMA is reclaimed, and its downward slope at least eases, tech could ultimately still be in for more trouble, or further volatility, relative to banks.</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   FOR FRIDAY'S LIVE MARKETS' POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE:  </p><p>    &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ TechvsBanks06112021     AAII06112021     UMich     UMich inflation expectations     stoxx    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt;</p><p>(Terence Gabriel is a Reuters market analyst. The views expressed are his own)</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>LIVE MARKETS-Investors take a spin at the meme-stock casino</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\">\nLIVE MARKETS-Investors take a spin at the meme-stock casino\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-12 00:23</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>* Nasdaq edges up, S&amp;P 500 slips, Dow off ~0.3%; small caps gain</p><p>   * Healthcare weakest major S&amp;P sector; tech leads gainers</p><p>   * Dollar, crude up; gold down; bitcoin ~flat</p><p>   * U.S. 10-Year Treasury yield ~1.47%</p><p>    June 11 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com </p><p>   INVESTORS TAKE A SPIN AT THE MEME-STOCK CASINO (1219 EDT/1619 GMT)</p><p>   As part of the most recent American Association of Individual Investors (AAII) sentiment survey  , AAII polled its members for their thoughts on so-called \"meme stocks\", which includes such names as AMC Entertainment   </p><p>, GameStop   , and BlackBerry</p><p> , etc.   </p><p>   AAII reported that three out of 10 respondents (30%) said they felt that meme stocks were \"purely speculative and dangerous.\" Many within this group also described investing in meme stocks as a form of \"gambling.\"</p><p>   An additional 13% of respondents maintained a cautionary outlook on the group, calling them \"foolish and teaching poor investing habits.\" Another 11% of respondents stated that meme stocks pointed to negative market trends, indicating that these investments may lead to \"a speculative bubble or overall market volatility.\"</p><p>   Meanwhile, 23% of respondents said that they had no specific knowledge or interest in these particular stocks as they don't fit with their investing goals. About 15% of respondents had a somewhat positive to completely positive outlook on them, saying that these types of investments could be rewarding if handled correctly.</p><p>   Here are a few quotes from investors on the matter:</p><p>   \"Gambling—pure and simple. Some will win, some will lose and not all will have a good time.\"</p><p>   \"Kind of scary actually. They are highly volatile, and I fear the volatility can transfer into regular stocks.\"</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   STOXX 600: BIT BY BIT, IT ADDS UP! (1148 EDT/1548 GMT)</p><p>   The pan-European index secured its fourth weekly gain in a row and closed at a new record high at 457, up 0.7% on the day. </p><p>   It's fair to say that this week's rise of 1.1% is not spectacular but added to the 0.8%, 1% and 0.4% scored each of the last three Fridays, it adds up! </p><p>   Among the indexes shining is France's CAC 40 which has claimed the 6,600 bar, its highest since September 2000. </p><p>   Overall, European shares are now trading at levels only a month ago many investors expected them to be towards the end of 2021. </p><p>   While many analysts are probably considering revising their targets now, some of the caution across the market can probably be explained by reluctance to buy at a possible peak. </p><p>   There's also some growing doubt on the reopening trade with the exponential spread of the so-called Delta variant in the UK.</p><p>   Michael Hewson, a market analyst at CMC Markets noted some underperformance in the travel and leisure sector. </p><p>   \"Delays to reopening prompted British Airways to put some of their staff back on furlough, while the likes of Cineworld and Wagamama’s owner Restaurant Group (are) down again for the second day in succession as fears grow that next week’s announcement of a wholesale 21st June unlock becomes less likely\". </p><p>   (Julien Ponthus) </p><p>   *****</p><p>   EL SALVADOR COULD SPARK \"CRYPTO-FRIENDLY\" STAMPEDE WHILE THE U.S. LAGS (1130 EDT/1530 GMT)</p><p>   El Salvador’s historic decision to make bitcoin legal tender could set off a rush of countries competing to be the most “crypto friendly” while the U.S. drags its feet on regulatory issues, according to Kevin Kelly, co-founder and head of global macro strategy at Delphi Digital.</p><p>   This could increase pressure on U.S. regulators to accommodate crypto enthusiasts, he added. </p><p>   “Eventually regulators will be forced to tailor the rules, otherwise they face the risk of talent flight to other more favorable countries,” Kelly told the Reuters Global Markets Forum  in an interview. </p><p>   El Salvador's decision has come with its fair share of criticism, including from the Bank for International Settlements' Benoit Coeure, who called it an \"interesting experiment\" with a \"speculative asset.\"  </p><p>   Bitcoin rose following El Salvador's decision, but remains almost 42% below its all-time high hit in April. </p><p>   While Kelly sees bitcoin eventually jumping back above $60,000, he sees potential for another sell-off. </p><p>   \"One of the big reasons for the latest sell-off was the build-up of excessive leverage, when everyone is leveraged long, it's a matter of when -- not if -- a major correction will take place... if we look back historically at similar drawdowns there's evidence we may be in for another sell-off,\" he said. </p><p>   Meanwhile, Kelly sees cryptocurrencies gaining long-term support as investors search for alternative assets that provide more yield than bonds, particularly sovereign debt. </p><p>   However, the slowdown in monetary growth could limit bitcoin's short term gains. </p><p>   \"If you compare bitcoin to the year on year growth in major central bank balance sheets, you'll see that bitcoin's price peaks tend to coincide with a deceleration in central bank asset growth, which is similar to what we're seeing today,\" he added. </p><p>   (Lisa Mattackal)</p><p>   *****</p><p>    UMICH: CONSUMERS, ALONG WITH MARKETS, OBSESS OVER THE \"I\" WORD (1055 EDT/1455 GMT)</p><p>   Market participants headed toward the weekend with modestly upbeat news about the mindset of the American consumer, who is responsible for about 70% of the U.S. economy.</p><p>   The University of Michigan's preliminary take on Consumer Sentiment    for June increased to a reading of 86.4, beating the 84 consensus.</p><p>   While the \"current conditions\" component's gain came in lower than anticipated, \"expectations\" surpassed estimates, suggesting consumers, increasingly inoculated and flush with stimulus cash and savings, see brighter days ahead.</p><p>   \"The early June gain was mainly among middle and upper income households and for future economic prospects rather than current conditions,\" writes Richard Curtin, chief economist at UMich's Surveys of Consumers. \"Stronger growth in the national economy was anticipated, with an all-time record number of consumers anticipating a net decline in unemployment.\"</p><p>   With few other things to fret about and indexes floating near all-time highs, market participants have been obsessing in recent weeks over the \"I\" word, inflation that is.</p><p>   While the demand dam is bursting as Americans economically re-engage, the supply side of the equation is struggling to meet it, resulting in the price spikes seen in recent data, notably Thursday's CPI report.</p><p>   In fact, Oxford Economics' most recent recovery tracker, which follows 23 discrete economic metrics and groups them into six baskets, shows the demand component was the biggest gainer, and is now at 106.3% compared with the beginning of 2020.</p><p>   But both consumers and investors increasingly appear to be buying into the Fed's assurances that these price spikes won't metastasize into long-term inflation.</p><p>   The UMich report shows <a href=\"https://laohu8.com/S/AONE\">one</a>-year and five-year inflation expectations ticked down this month, to 4.0% and 2.8%, respectively. Still, those numbers are above the central bank's average annual 2% inflation target.</p><p>   \"Rising inflation remained a top concern of consumers, although the expected rate of inflation declined in early June,\" Curtin adds. \"Spontaneous references to market prices for homes, vehicles, and household durables fell to their worst level since the all-time record in November 1974.\"</p><p>   U.S. stocks are mixed in mid-morning trading, with the major indexes slipping into the red.</p><p>   Tech   , small caps    and transports    are among the gainers.</p><p>   (Stephen Culp)</p><p>   *****</p><p>   INVESTORS CROWD THE FENCE (1001 EDT/1401 GMT)</p><p>   The percentage of individual investors characterizing their short-term outlook for the U.S. stock market as \"neutral\" approached 40% in the latest American Association of Individual Investors Sentiment Survey. With this, pessimism also bounced, while optimism fell.   </p><p>   AAII reported that neutral sentiment, or expectations that stock prices will be essentially flat over the next six months, increased 2.9 percentage points to 39.1%. This is the highest reading since January 1, 2020 (40.9%). Neutral sentiment is above its historical average of 31.5% for the seventh consecutive week but just the eighth time this year.</p><p>   Bearish sentiment, or expectations that stock prices will decline over the next six months, edged up 0.9 percentage points to 20.7%. Bearish sentiment is below its historical average of 30.5% for the 18th consecutive week.</p><p>   Bullish sentiment, or expectations that stock prices will gain over the next six months, fell 3.8 percentage points to 40.2%. Optimism remains above its historical average of 38.0% for the 25th week out of the past 30 weeks.</p><p>   AAII noted that, at current levels, pessimism remains unusually low. \"Historically, below-average readings for bearish sentiment have been followed by below-average six- and 12-month returns for the S&amp;P 500 index.\" </p><p>   With these changes, the bull-bear spread fell to +19.5 from +24.3 last week:</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   TECH VS BANKS: HAS THE SWITCH FLIPPED? (0900 EDT/1300 GMT)</p><p>   Since tech peaked vs financials and banks in September of last year  , growth has been on the back foot vs value. However, with the U.S. 10-Year Treasury yield    hitting 3-month lows, tech, and growth, are enjoying a bit of a reprieve vs banks and value.  </p><p>   Indeed, the tech   /banks    ratio is currently on pace for its best weekly performance since mid-January. On a monthly basis, it is tracking its biggest rise since August of last year.</p><p>   That said, tech may still have work to do on the charts to suggest a more enduring relative low vs banks is in:</p><p>   The ratio is attempting to turn up well ahead of a 15-year log-scale support line, as well as the Y2K tech bubble and financial crisis peaks, which should now also act as support levels.</p><p>   However, the ratio remains well below its descending 200-day moving average.</p><p>   There certainly is room for a greater relative comeback, if the ratio rises to close the gap with this long-term moving average. But until the 200-DMA is reclaimed, and its downward slope at least eases, tech could ultimately still be in for more trouble, or further volatility, relative to banks.</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   FOR FRIDAY'S LIVE MARKETS' POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE:  </p><p>    &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ TechvsBanks06112021     AAII06112021     UMich     UMich inflation expectations     stoxx    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt;</p><p>(Terence Gabriel is a Reuters market analyst. The views expressed are his own)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TQQQ":"纳指三倍做多ETF","AMC":"AMC院线","DDM":"道指两倍做多ETF","PSQ":"纳指反向ETF","QLD":"纳指两倍做多ETF","DOG":"道指反向ETF","UDOW":"道指三倍做多ETF-ProShares",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SQQQ":"纳指三倍做空ETF","GME":"游戏驿站","SDOW":"道指三倍做空ETF-ProShares","QQQ":"纳指100ETF","DXD":"道指两倍做空ETF","QID":"纳指两倍做空ETF","DJX":"1/100道琼斯"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142457201","content_text":"* Nasdaq edges up, S&P 500 slips, Dow off ~0.3%; small caps gain   * Healthcare weakest major S&P sector; tech leads gainers   * Dollar, crude up; gold down; bitcoin ~flat   * U.S. 10-Year Treasury yield ~1.47%    June 11 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com    INVESTORS TAKE A SPIN AT THE MEME-STOCK CASINO (1219 EDT/1619 GMT)   As part of the most recent American Association of Individual Investors (AAII) sentiment survey  , AAII polled its members for their thoughts on so-called \"meme stocks\", which includes such names as AMC Entertainment   , GameStop   , and BlackBerry , etc.      AAII reported that three out of 10 respondents (30%) said they felt that meme stocks were \"purely speculative and dangerous.\" Many within this group also described investing in meme stocks as a form of \"gambling.\"   An additional 13% of respondents maintained a cautionary outlook on the group, calling them \"foolish and teaching poor investing habits.\" Another 11% of respondents stated that meme stocks pointed to negative market trends, indicating that these investments may lead to \"a speculative bubble or overall market volatility.\"   Meanwhile, 23% of respondents said that they had no specific knowledge or interest in these particular stocks as they don't fit with their investing goals. About 15% of respondents had a somewhat positive to completely positive outlook on them, saying that these types of investments could be rewarding if handled correctly.   Here are a few quotes from investors on the matter:   \"Gambling—pure and simple. Some will win, some will lose and not all will have a good time.\"   \"Kind of scary actually. They are highly volatile, and I fear the volatility can transfer into regular stocks.\"   (Terence Gabriel)   *****   STOXX 600: BIT BY BIT, IT ADDS UP! (1148 EDT/1548 GMT)   The pan-European index secured its fourth weekly gain in a row and closed at a new record high at 457, up 0.7% on the day.    It's fair to say that this week's rise of 1.1% is not spectacular but added to the 0.8%, 1% and 0.4% scored each of the last three Fridays, it adds up!    Among the indexes shining is France's CAC 40 which has claimed the 6,600 bar, its highest since September 2000.    Overall, European shares are now trading at levels only a month ago many investors expected them to be towards the end of 2021.    While many analysts are probably considering revising their targets now, some of the caution across the market can probably be explained by reluctance to buy at a possible peak.    There's also some growing doubt on the reopening trade with the exponential spread of the so-called Delta variant in the UK.   Michael Hewson, a market analyst at CMC Markets noted some underperformance in the travel and leisure sector.    \"Delays to reopening prompted British Airways to put some of their staff back on furlough, while the likes of Cineworld and Wagamama’s owner Restaurant Group (are) down again for the second day in succession as fears grow that next week’s announcement of a wholesale 21st June unlock becomes less likely\".    (Julien Ponthus)    *****   EL SALVADOR COULD SPARK \"CRYPTO-FRIENDLY\" STAMPEDE WHILE THE U.S. LAGS (1130 EDT/1530 GMT)   El Salvador’s historic decision to make bitcoin legal tender could set off a rush of countries competing to be the most “crypto friendly” while the U.S. drags its feet on regulatory issues, according to Kevin Kelly, co-founder and head of global macro strategy at Delphi Digital.   This could increase pressure on U.S. regulators to accommodate crypto enthusiasts, he added.    “Eventually regulators will be forced to tailor the rules, otherwise they face the risk of talent flight to other more favorable countries,” Kelly told the Reuters Global Markets Forum  in an interview.    El Salvador's decision has come with its fair share of criticism, including from the Bank for International Settlements' Benoit Coeure, who called it an \"interesting experiment\" with a \"speculative asset.\"     Bitcoin rose following El Salvador's decision, but remains almost 42% below its all-time high hit in April.    While Kelly sees bitcoin eventually jumping back above $60,000, he sees potential for another sell-off.    \"One of the big reasons for the latest sell-off was the build-up of excessive leverage, when everyone is leveraged long, it's a matter of when -- not if -- a major correction will take place... if we look back historically at similar drawdowns there's evidence we may be in for another sell-off,\" he said.    Meanwhile, Kelly sees cryptocurrencies gaining long-term support as investors search for alternative assets that provide more yield than bonds, particularly sovereign debt.    However, the slowdown in monetary growth could limit bitcoin's short term gains.    \"If you compare bitcoin to the year on year growth in major central bank balance sheets, you'll see that bitcoin's price peaks tend to coincide with a deceleration in central bank asset growth, which is similar to what we're seeing today,\" he added.    (Lisa Mattackal)   *****    UMICH: CONSUMERS, ALONG WITH MARKETS, OBSESS OVER THE \"I\" WORD (1055 EDT/1455 GMT)   Market participants headed toward the weekend with modestly upbeat news about the mindset of the American consumer, who is responsible for about 70% of the U.S. economy.   The University of Michigan's preliminary take on Consumer Sentiment    for June increased to a reading of 86.4, beating the 84 consensus.   While the \"current conditions\" component's gain came in lower than anticipated, \"expectations\" surpassed estimates, suggesting consumers, increasingly inoculated and flush with stimulus cash and savings, see brighter days ahead.   \"The early June gain was mainly among middle and upper income households and for future economic prospects rather than current conditions,\" writes Richard Curtin, chief economist at UMich's Surveys of Consumers. \"Stronger growth in the national economy was anticipated, with an all-time record number of consumers anticipating a net decline in unemployment.\"   With few other things to fret about and indexes floating near all-time highs, market participants have been obsessing in recent weeks over the \"I\" word, inflation that is.   While the demand dam is bursting as Americans economically re-engage, the supply side of the equation is struggling to meet it, resulting in the price spikes seen in recent data, notably Thursday's CPI report.   In fact, Oxford Economics' most recent recovery tracker, which follows 23 discrete economic metrics and groups them into six baskets, shows the demand component was the biggest gainer, and is now at 106.3% compared with the beginning of 2020.   But both consumers and investors increasingly appear to be buying into the Fed's assurances that these price spikes won't metastasize into long-term inflation.   The UMich report shows one-year and five-year inflation expectations ticked down this month, to 4.0% and 2.8%, respectively. Still, those numbers are above the central bank's average annual 2% inflation target.   \"Rising inflation remained a top concern of consumers, although the expected rate of inflation declined in early June,\" Curtin adds. \"Spontaneous references to market prices for homes, vehicles, and household durables fell to their worst level since the all-time record in November 1974.\"   U.S. stocks are mixed in mid-morning trading, with the major indexes slipping into the red.   Tech   , small caps    and transports    are among the gainers.   (Stephen Culp)   *****   INVESTORS CROWD THE FENCE (1001 EDT/1401 GMT)   The percentage of individual investors characterizing their short-term outlook for the U.S. stock market as \"neutral\" approached 40% in the latest American Association of Individual Investors Sentiment Survey. With this, pessimism also bounced, while optimism fell.      AAII reported that neutral sentiment, or expectations that stock prices will be essentially flat over the next six months, increased 2.9 percentage points to 39.1%. This is the highest reading since January 1, 2020 (40.9%). Neutral sentiment is above its historical average of 31.5% for the seventh consecutive week but just the eighth time this year.   Bearish sentiment, or expectations that stock prices will decline over the next six months, edged up 0.9 percentage points to 20.7%. Bearish sentiment is below its historical average of 30.5% for the 18th consecutive week.   Bullish sentiment, or expectations that stock prices will gain over the next six months, fell 3.8 percentage points to 40.2%. Optimism remains above its historical average of 38.0% for the 25th week out of the past 30 weeks.   AAII noted that, at current levels, pessimism remains unusually low. \"Historically, below-average readings for bearish sentiment have been followed by below-average six- and 12-month returns for the S&P 500 index.\"    With these changes, the bull-bear spread fell to +19.5 from +24.3 last week:   (Terence Gabriel)   *****   TECH VS BANKS: HAS THE SWITCH FLIPPED? (0900 EDT/1300 GMT)   Since tech peaked vs financials and banks in September of last year  , growth has been on the back foot vs value. However, with the U.S. 10-Year Treasury yield    hitting 3-month lows, tech, and growth, are enjoying a bit of a reprieve vs banks and value.     Indeed, the tech   /banks    ratio is currently on pace for its best weekly performance since mid-January. On a monthly basis, it is tracking its biggest rise since August of last year.   That said, tech may still have work to do on the charts to suggest a more enduring relative low vs banks is in:   The ratio is attempting to turn up well ahead of a 15-year log-scale support line, as well as the Y2K tech bubble and financial crisis peaks, which should now also act as support levels.   However, the ratio remains well below its descending 200-day moving average.   There certainly is room for a greater relative comeback, if the ratio rises to close the gap with this long-term moving average. But until the 200-DMA is reclaimed, and its downward slope at least eases, tech could ultimately still be in for more trouble, or further volatility, relative to banks.   (Terence Gabriel)   *****   FOR FRIDAY'S LIVE MARKETS' POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE:      <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ TechvsBanks06112021     AAII06112021     UMich     UMich inflation expectations     stoxx       ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>(Terence Gabriel is a Reuters market analyst. The views expressed are his own)","news_type":1},"isVote":1,"tweetType":1,"viewCount":341,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186524236,"gmtCreate":1623513433825,"gmtModify":1704205360825,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"grow grow grow!&nbsp;","listText":"grow grow grow!&nbsp;","text":"grow grow grow!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/186524236","repostId":"2142204999","repostType":2,"repost":{"id":"2142204999","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623435927,"share":"https://ttm.financial/m/news/2142204999?lang=&edition=fundamental","pubTime":"2021-06-12 02:25","market":"sh","language":"en","title":"LIVE MARKETS-S&P 500 has best earnings growth since 2010","url":"https://stock-news.laohu8.com/highlight/detail?id=2142204999","media":"Reuters","summary":"* Nasdaq, S&P 500 edge up, Dow slips; small caps rally   * Tech leads major S&P sector gainers; heal","content":"<html><body><p>* Nasdaq, S&amp;P 500 edge up, Dow slips; small caps rally</p><p>   * Tech leads major S&amp;P sector gainers; healthcare weakest group</p><p>   * Dollar, crude up; gold down; bitcoin ~flat</p><p>   * U.S. 10-Year Treasury yield ~1.46%</p><p>    June 11 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com </p><p>   S&amp;P 500 HAS <a href=\"https://laohu8.com/S/BOTB.UK\">BEST</a> EARNINGS GROWTH SINCE 2010 (1400 EDT/1800 GMT)</p><p>   After much-stronger-than-expected results coming steadily throughout the first-quarter reporting period, S&amp;P 500    companies finished off the season with their biggest quarterly percentage increase in earnings since the first quarter of 2010, just after the financial crisis, according to data from Refinitiv.</p><p>   Earnings, which are rebounding from last year's pandemic-fueled lows, rose 52.7% in the first quarter from the previous year, the highest growth rate since first-quarter 2010's 58.3%, based on Refinitiv's data.</p><p>   The reporting period registered some other milestones as well.</p><p>   The 87.3% of reports that came in ahead of analysts' estimates for earnings per share was the highest beat rate on record going back to 1994, when Refinitiv began tracking the data.</p><p>   Also, the earnings \"surprise factor\" of 22.3% was the second-highest on record for Refinitiv.</p><p>   All eyes will soon be on second-quarter earnings, with the growth rate expected to be the highest for 2021.</p><p>   (Caroline Valetkevitch)</p><p>   *****</p><p>   FED LIKELY TO KEEP FLEXIBILITY ON TAPERING AT MEETING -MORGAN STANLEY (1345 EDT/1745 GMT)</p><p>   <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> in its research note on Friday said it expects the Federal Open Market Committee <a href=\"https://laohu8.com/S/FOMC\">$(FOMC)$</a> at next week's policy meeting to lay the groundwork for increased flexibility on its quantitative easing program by \"talking about talking about tapering\". </p><p>   The bank believes the most significant changes in the June summary of economic projections would likely come in the inflation outlook and the Fed officials' median projection on the number of rate moves, more commonly referred to as the \"dot plot\".</p><p>   \"We expect especially notable near-term upward revisions to inflation projections, while we think the most likely outcome for the dot plot will show an even split among the Committee (9 vs. 9) on rate hikes in 2023.\" </p><p>   The FOMC has made it abundantly clear though that any change in policy is conditional on the evolution of the economic data.</p><p>   Morgan Stanley said in that regard, incoming U.S. economic numbers have been overcoming necessary hurdles, and keeping the FOMC on track for its balance sheet discussions.</p><p>   The U.S. bank cited the non-farm payrolls for May, which came in at 559,000 new jobs, well short of the 1 million monthly estimates, as well as, the Fed's Beige Book, which reported that economic activity expanded at a somewhat faster rate than the prior reporting period.</p><p>   Taken together, Morgan Stanley the data should lead the FOMC to maintain its view that \"labor demand remains robust, and labor supply will soon begin to catch up to it.\"</p><p>   (Gertrude Chavez-Dreyfuss)</p><p>   ******</p><p>   INVESTORS TAKE A SPIN AT THE MEME-STOCK CASINO (1219 EDT/1619 GMT)</p><p>   As part of the most recent American Association of Individual Investors (AAII) sentiment survey  , AAII polled its members for their thoughts on so-called \"meme stocks\", which includes such names as AMC Entertainment   </p><p>, GameStop   , and BlackBerry</p><p> , etc.   </p><p>   AAII reported that three out of 10 respondents (30%) said they felt that meme stocks were \"purely speculative and dangerous.\" Many within this group also described investing in meme stocks as a form of \"gambling.\"</p><p>   An additional 13% of respondents maintained a cautionary outlook on the group, calling them \"foolish and teaching poor investing habits.\" Another 11% of respondents stated that meme stocks pointed to negative market trends, indicating that these investments may lead to \"a speculative bubble or overall market volatility.\"</p><p>   Meanwhile, 23% of respondents said that they had no specific knowledge or interest in these particular stocks as they don't fit with their investing goals. About 15% of respondents had a somewhat positive to completely positive outlook on them, saying that these types of investments could be rewarding if handled correctly.</p><p>   Here are a few quotes from investors on the matter:</p><p>   \"Gambling—pure and simple. Some will win, some will lose and not all will have a good time.\"</p><p>   \"Kind of scary actually. They are highly volatile, and I fear the volatility can transfer into regular stocks.\"</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   STOXX 600: BIT BY BIT, IT ADDS UP! (1148 EDT/1548 GMT)</p><p>   The pan-European index secured its fourth weekly gain in a row and closed at a new record high at 457, up 0.7% on the day. </p><p>   It's fair to say that this week's rise of 1.1% is not spectacular but added to the 0.8%, 1% and 0.4% scored each of the last three Fridays, it adds up! </p><p>   Among the indexes shining is France's CAC 40 which has claimed the 6,600 bar, its highest since September 2000. </p><p>   Overall, European shares are now trading at levels only a month ago many investors expected them to be towards the end of 2021. </p><p>   While many analysts are probably considering revising their targets now, some of the caution across the market can probably be explained by reluctance to buy at a possible peak. </p><p>   There's also some growing doubt on the reopening trade with the exponential spread of the so-called Delta variant in the UK.</p><p>   Michael Hewson, a market analyst at CMC Markets noted some underperformance in the travel and leisure sector. </p><p>   \"Delays to reopening prompted British Airways to put some of their staff back on furlough, while the likes of Cineworld and Wagamama’s owner Restaurant Group (are) down again for the second day in succession as fears grow that next week’s announcement of a wholesale 21st June unlock becomes less likely\". </p><p>   (Julien Ponthus) </p><p>   *****</p><p>   EL SALVADOR COULD SPARK \"CRYPTO-FRIENDLY\" STAMPEDE WHILE THE U.S. LAGS (1130 EDT/1530 GMT)</p><p>   El Salvador’s historic decision to make bitcoin legal tender could set off a rush of countries competing to be the most “crypto friendly” while the U.S. drags its feet on regulatory issues, according to Kevin Kelly, co-founder and head of global macro strategy at Delphi Digital.</p><p>   This could increase pressure on U.S. regulators to accommodate crypto enthusiasts, he added. </p><p>   “Eventually regulators will be forced to tailor the rules, otherwise they face the risk of talent flight to other more favorable countries,” Kelly told the Reuters Global Markets Forum  in an interview. </p><p>   El Salvador's decision has come with its fair share of criticism, including from the Bank for International Settlements' Benoit Coeure, who called it an \"interesting experiment\" with a \"speculative asset.\"  </p><p>   Bitcoin rose following El Salvador's decision, but remains almost 42% below its all-time high hit in April. </p><p>   While Kelly sees bitcoin eventually jumping back above $60,000, he sees potential for another sell-off. </p><p>   \"One of the big reasons for the latest sell-off was the build-up of excessive leverage, when everyone is leveraged long, it's a matter of when -- not if -- a major correction will take place... if we look back historically at similar drawdowns there's evidence we may be in for another sell-off,\" he said. </p><p>   Meanwhile, Kelly sees cryptocurrencies gaining long-term support as investors search for alternative assets that provide more yield than bonds, particularly sovereign debt. </p><p>   However, the slowdown in monetary growth could limit bitcoin's short term gains. </p><p>   \"If you compare bitcoin to the year on year growth in major central bank balance sheets, you'll see that bitcoin's price peaks tend to coincide with a deceleration in central bank asset growth, which is similar to what we're seeing today,\" he added. </p><p>   (Lisa Mattackal)</p><p>   *****</p><p>    UMICH: CONSUMERS, ALONG WITH MARKETS, OBSESS OVER THE \"I\" WORD (1055 EDT/1455 GMT)</p><p>   Market participants headed toward the weekend with modestly upbeat news about the mindset of the American consumer, who is responsible for about 70% of the U.S. economy.</p><p>   The University of Michigan's preliminary take on Consumer Sentiment    for June increased to a reading of 86.4, beating the 84 consensus.</p><p>   While the \"current conditions\" component's gain came in lower than anticipated, \"expectations\" surpassed estimates, suggesting consumers, increasingly inoculated and flush with stimulus cash and savings, see brighter days ahead.</p><p>   \"The early June gain was mainly among middle and upper income households and for future economic prospects rather than current conditions,\" writes Richard Curtin, chief economist at UMich's Surveys of Consumers. \"Stronger growth in the national economy was anticipated, with an all-time record number of consumers anticipating a net decline in unemployment.\"</p><p>   With few other things to fret about and indexes floating near all-time highs, market participants have been obsessing in recent weeks over the \"I\" word, inflation that is.</p><p>   While the demand dam is bursting as Americans economically re-engage, the supply side of the equation is struggling to meet it, resulting in the price spikes seen in recent data, notably Thursday's CPI report.</p><p>   In fact, Oxford Economics' most recent recovery tracker, which follows 23 discrete economic metrics and groups them into six baskets, shows the demand component was the biggest gainer, and is now at 106.3% compared with the beginning of 2020.</p><p>   But both consumers and investors increasingly appear to be buying into the Fed's assurances that these price spikes won't metastasize into long-term inflation.</p><p>   The UMich report shows <a href=\"https://laohu8.com/S/AONE\">one</a>-year and five-year inflation expectations ticked down this month, to 4.0% and 2.8%, respectively. Still, those numbers are above the central bank's average annual 2% inflation target.</p><p>   \"Rising inflation remained a top concern of consumers, although the expected rate of inflation declined in early June,\" Curtin adds. \"Spontaneous references to market prices for homes, vehicles, and household durables fell to their worst level since the all-time record in November 1974.\"</p><p>   U.S. stocks are mixed in mid-morning trading, with the major indexes slipping into the red.</p><p>   Tech   , small caps    and transports    are among the gainers.</p><p>   (Stephen Culp)</p><p>   *****</p><p>   INVESTORS CROWD THE FENCE (1001 EDT/1401 GMT)</p><p>   The percentage of individual investors characterizing their short-term outlook for the U.S. stock market as \"neutral\" approached 40% in the latest American Association of Individual Investors Sentiment Survey. With this, pessimism also bounced, while optimism fell.   </p><p>   AAII reported that neutral sentiment, or expectations that stock prices will be essentially flat over the next six months, increased 2.9 percentage points to 39.1%. This is the highest reading since January 1, 2020 (40.9%). Neutral sentiment is above its historical average of 31.5% for the seventh consecutive week but just the eighth time this year.</p><p>   Bearish sentiment, or expectations that stock prices will decline over the next six months, edged up 0.9 percentage points to 20.7%. Bearish sentiment is below its historical average of 30.5% for the 18th consecutive week.</p><p>   Bullish sentiment, or expectations that stock prices will gain over the next six months, fell 3.8 percentage points to 40.2%. Optimism remains above its historical average of 38.0% for the 25th week out of the past 30 weeks.</p><p>   AAII noted that, at current levels, pessimism remains unusually low. \"Historically, below-average readings for bearish sentiment have been followed by below-average six- and 12-month returns for the S&amp;P 500 index.\" </p><p>   With these changes, the bull-bear spread fell to +19.5 from +24.3 last week:</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   TECH VS BANKS: HAS THE SWITCH FLIPPED? (0900 EDT/1300 GMT)</p><p>   Since tech peaked vs financials and banks in September of last year  , growth has been on the back foot vs value. However, with the U.S. 10-Year Treasury yield    hitting 3-month lows, tech, and growth, are enjoying a bit of a reprieve vs banks and value.  </p><p>   Indeed, the tech   /banks    ratio is currently on pace for its best weekly performance since mid-January. On a monthly basis, it is tracking its biggest rise since August of last year.</p><p>   That said, tech may still have work to do on the charts to suggest a more enduring relative low vs banks is in:</p><p>   The ratio is attempting to turn up well ahead of a 15-year log-scale support line, as well as the Y2K tech bubble and financial crisis peaks, which should now also act as support levels.</p><p>   However, the ratio remains well below its descending 200-day moving average.</p><p>   There certainly is room for a greater relative comeback, if the ratio rises to close the gap with this long-term moving average. But until the 200-DMA is reclaimed, and its downward slope at least eases, tech could ultimately still be in for more trouble, or further volatility, relative to banks.</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   FOR FRIDAY'S LIVE MARKETS' POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE:  </p><p>    &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ TechvsBanks06112021     AAII06112021     UMich     UMich inflation expectations     stoxx    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt;</p><p>(Terence Gabriel is a Reuters market analyst. The views expressed are his own)</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>LIVE MARKETS-S&P 500 has best earnings growth since 2010</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\">\nLIVE MARKETS-S&P 500 has best earnings growth since 2010\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-12 02:25</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>* Nasdaq, S&amp;P 500 edge up, Dow slips; small caps rally</p><p>   * Tech leads major S&amp;P sector gainers; healthcare weakest group</p><p>   * Dollar, crude up; gold down; bitcoin ~flat</p><p>   * U.S. 10-Year Treasury yield ~1.46%</p><p>    June 11 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com </p><p>   S&amp;P 500 HAS <a href=\"https://laohu8.com/S/BOTB.UK\">BEST</a> EARNINGS GROWTH SINCE 2010 (1400 EDT/1800 GMT)</p><p>   After much-stronger-than-expected results coming steadily throughout the first-quarter reporting period, S&amp;P 500    companies finished off the season with their biggest quarterly percentage increase in earnings since the first quarter of 2010, just after the financial crisis, according to data from Refinitiv.</p><p>   Earnings, which are rebounding from last year's pandemic-fueled lows, rose 52.7% in the first quarter from the previous year, the highest growth rate since first-quarter 2010's 58.3%, based on Refinitiv's data.</p><p>   The reporting period registered some other milestones as well.</p><p>   The 87.3% of reports that came in ahead of analysts' estimates for earnings per share was the highest beat rate on record going back to 1994, when Refinitiv began tracking the data.</p><p>   Also, the earnings \"surprise factor\" of 22.3% was the second-highest on record for Refinitiv.</p><p>   All eyes will soon be on second-quarter earnings, with the growth rate expected to be the highest for 2021.</p><p>   (Caroline Valetkevitch)</p><p>   *****</p><p>   FED LIKELY TO KEEP FLEXIBILITY ON TAPERING AT MEETING -MORGAN STANLEY (1345 EDT/1745 GMT)</p><p>   <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> in its research note on Friday said it expects the Federal Open Market Committee <a href=\"https://laohu8.com/S/FOMC\">$(FOMC)$</a> at next week's policy meeting to lay the groundwork for increased flexibility on its quantitative easing program by \"talking about talking about tapering\". </p><p>   The bank believes the most significant changes in the June summary of economic projections would likely come in the inflation outlook and the Fed officials' median projection on the number of rate moves, more commonly referred to as the \"dot plot\".</p><p>   \"We expect especially notable near-term upward revisions to inflation projections, while we think the most likely outcome for the dot plot will show an even split among the Committee (9 vs. 9) on rate hikes in 2023.\" </p><p>   The FOMC has made it abundantly clear though that any change in policy is conditional on the evolution of the economic data.</p><p>   Morgan Stanley said in that regard, incoming U.S. economic numbers have been overcoming necessary hurdles, and keeping the FOMC on track for its balance sheet discussions.</p><p>   The U.S. bank cited the non-farm payrolls for May, which came in at 559,000 new jobs, well short of the 1 million monthly estimates, as well as, the Fed's Beige Book, which reported that economic activity expanded at a somewhat faster rate than the prior reporting period.</p><p>   Taken together, Morgan Stanley the data should lead the FOMC to maintain its view that \"labor demand remains robust, and labor supply will soon begin to catch up to it.\"</p><p>   (Gertrude Chavez-Dreyfuss)</p><p>   ******</p><p>   INVESTORS TAKE A SPIN AT THE MEME-STOCK CASINO (1219 EDT/1619 GMT)</p><p>   As part of the most recent American Association of Individual Investors (AAII) sentiment survey  , AAII polled its members for their thoughts on so-called \"meme stocks\", which includes such names as AMC Entertainment   </p><p>, GameStop   , and BlackBerry</p><p> , etc.   </p><p>   AAII reported that three out of 10 respondents (30%) said they felt that meme stocks were \"purely speculative and dangerous.\" Many within this group also described investing in meme stocks as a form of \"gambling.\"</p><p>   An additional 13% of respondents maintained a cautionary outlook on the group, calling them \"foolish and teaching poor investing habits.\" Another 11% of respondents stated that meme stocks pointed to negative market trends, indicating that these investments may lead to \"a speculative bubble or overall market volatility.\"</p><p>   Meanwhile, 23% of respondents said that they had no specific knowledge or interest in these particular stocks as they don't fit with their investing goals. About 15% of respondents had a somewhat positive to completely positive outlook on them, saying that these types of investments could be rewarding if handled correctly.</p><p>   Here are a few quotes from investors on the matter:</p><p>   \"Gambling—pure and simple. Some will win, some will lose and not all will have a good time.\"</p><p>   \"Kind of scary actually. They are highly volatile, and I fear the volatility can transfer into regular stocks.\"</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   STOXX 600: BIT BY BIT, IT ADDS UP! (1148 EDT/1548 GMT)</p><p>   The pan-European index secured its fourth weekly gain in a row and closed at a new record high at 457, up 0.7% on the day. </p><p>   It's fair to say that this week's rise of 1.1% is not spectacular but added to the 0.8%, 1% and 0.4% scored each of the last three Fridays, it adds up! </p><p>   Among the indexes shining is France's CAC 40 which has claimed the 6,600 bar, its highest since September 2000. </p><p>   Overall, European shares are now trading at levels only a month ago many investors expected them to be towards the end of 2021. </p><p>   While many analysts are probably considering revising their targets now, some of the caution across the market can probably be explained by reluctance to buy at a possible peak. </p><p>   There's also some growing doubt on the reopening trade with the exponential spread of the so-called Delta variant in the UK.</p><p>   Michael Hewson, a market analyst at CMC Markets noted some underperformance in the travel and leisure sector. </p><p>   \"Delays to reopening prompted British Airways to put some of their staff back on furlough, while the likes of Cineworld and Wagamama’s owner Restaurant Group (are) down again for the second day in succession as fears grow that next week’s announcement of a wholesale 21st June unlock becomes less likely\". </p><p>   (Julien Ponthus) </p><p>   *****</p><p>   EL SALVADOR COULD SPARK \"CRYPTO-FRIENDLY\" STAMPEDE WHILE THE U.S. LAGS (1130 EDT/1530 GMT)</p><p>   El Salvador’s historic decision to make bitcoin legal tender could set off a rush of countries competing to be the most “crypto friendly” while the U.S. drags its feet on regulatory issues, according to Kevin Kelly, co-founder and head of global macro strategy at Delphi Digital.</p><p>   This could increase pressure on U.S. regulators to accommodate crypto enthusiasts, he added. </p><p>   “Eventually regulators will be forced to tailor the rules, otherwise they face the risk of talent flight to other more favorable countries,” Kelly told the Reuters Global Markets Forum  in an interview. </p><p>   El Salvador's decision has come with its fair share of criticism, including from the Bank for International Settlements' Benoit Coeure, who called it an \"interesting experiment\" with a \"speculative asset.\"  </p><p>   Bitcoin rose following El Salvador's decision, but remains almost 42% below its all-time high hit in April. </p><p>   While Kelly sees bitcoin eventually jumping back above $60,000, he sees potential for another sell-off. </p><p>   \"One of the big reasons for the latest sell-off was the build-up of excessive leverage, when everyone is leveraged long, it's a matter of when -- not if -- a major correction will take place... if we look back historically at similar drawdowns there's evidence we may be in for another sell-off,\" he said. </p><p>   Meanwhile, Kelly sees cryptocurrencies gaining long-term support as investors search for alternative assets that provide more yield than bonds, particularly sovereign debt. </p><p>   However, the slowdown in monetary growth could limit bitcoin's short term gains. </p><p>   \"If you compare bitcoin to the year on year growth in major central bank balance sheets, you'll see that bitcoin's price peaks tend to coincide with a deceleration in central bank asset growth, which is similar to what we're seeing today,\" he added. </p><p>   (Lisa Mattackal)</p><p>   *****</p><p>    UMICH: CONSUMERS, ALONG WITH MARKETS, OBSESS OVER THE \"I\" WORD (1055 EDT/1455 GMT)</p><p>   Market participants headed toward the weekend with modestly upbeat news about the mindset of the American consumer, who is responsible for about 70% of the U.S. economy.</p><p>   The University of Michigan's preliminary take on Consumer Sentiment    for June increased to a reading of 86.4, beating the 84 consensus.</p><p>   While the \"current conditions\" component's gain came in lower than anticipated, \"expectations\" surpassed estimates, suggesting consumers, increasingly inoculated and flush with stimulus cash and savings, see brighter days ahead.</p><p>   \"The early June gain was mainly among middle and upper income households and for future economic prospects rather than current conditions,\" writes Richard Curtin, chief economist at UMich's Surveys of Consumers. \"Stronger growth in the national economy was anticipated, with an all-time record number of consumers anticipating a net decline in unemployment.\"</p><p>   With few other things to fret about and indexes floating near all-time highs, market participants have been obsessing in recent weeks over the \"I\" word, inflation that is.</p><p>   While the demand dam is bursting as Americans economically re-engage, the supply side of the equation is struggling to meet it, resulting in the price spikes seen in recent data, notably Thursday's CPI report.</p><p>   In fact, Oxford Economics' most recent recovery tracker, which follows 23 discrete economic metrics and groups them into six baskets, shows the demand component was the biggest gainer, and is now at 106.3% compared with the beginning of 2020.</p><p>   But both consumers and investors increasingly appear to be buying into the Fed's assurances that these price spikes won't metastasize into long-term inflation.</p><p>   The UMich report shows <a href=\"https://laohu8.com/S/AONE\">one</a>-year and five-year inflation expectations ticked down this month, to 4.0% and 2.8%, respectively. Still, those numbers are above the central bank's average annual 2% inflation target.</p><p>   \"Rising inflation remained a top concern of consumers, although the expected rate of inflation declined in early June,\" Curtin adds. \"Spontaneous references to market prices for homes, vehicles, and household durables fell to their worst level since the all-time record in November 1974.\"</p><p>   U.S. stocks are mixed in mid-morning trading, with the major indexes slipping into the red.</p><p>   Tech   , small caps    and transports    are among the gainers.</p><p>   (Stephen Culp)</p><p>   *****</p><p>   INVESTORS CROWD THE FENCE (1001 EDT/1401 GMT)</p><p>   The percentage of individual investors characterizing their short-term outlook for the U.S. stock market as \"neutral\" approached 40% in the latest American Association of Individual Investors Sentiment Survey. With this, pessimism also bounced, while optimism fell.   </p><p>   AAII reported that neutral sentiment, or expectations that stock prices will be essentially flat over the next six months, increased 2.9 percentage points to 39.1%. This is the highest reading since January 1, 2020 (40.9%). Neutral sentiment is above its historical average of 31.5% for the seventh consecutive week but just the eighth time this year.</p><p>   Bearish sentiment, or expectations that stock prices will decline over the next six months, edged up 0.9 percentage points to 20.7%. Bearish sentiment is below its historical average of 30.5% for the 18th consecutive week.</p><p>   Bullish sentiment, or expectations that stock prices will gain over the next six months, fell 3.8 percentage points to 40.2%. Optimism remains above its historical average of 38.0% for the 25th week out of the past 30 weeks.</p><p>   AAII noted that, at current levels, pessimism remains unusually low. \"Historically, below-average readings for bearish sentiment have been followed by below-average six- and 12-month returns for the S&amp;P 500 index.\" </p><p>   With these changes, the bull-bear spread fell to +19.5 from +24.3 last week:</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   TECH VS BANKS: HAS THE SWITCH FLIPPED? (0900 EDT/1300 GMT)</p><p>   Since tech peaked vs financials and banks in September of last year  , growth has been on the back foot vs value. However, with the U.S. 10-Year Treasury yield    hitting 3-month lows, tech, and growth, are enjoying a bit of a reprieve vs banks and value.  </p><p>   Indeed, the tech   /banks    ratio is currently on pace for its best weekly performance since mid-January. On a monthly basis, it is tracking its biggest rise since August of last year.</p><p>   That said, tech may still have work to do on the charts to suggest a more enduring relative low vs banks is in:</p><p>   The ratio is attempting to turn up well ahead of a 15-year log-scale support line, as well as the Y2K tech bubble and financial crisis peaks, which should now also act as support levels.</p><p>   However, the ratio remains well below its descending 200-day moving average.</p><p>   There certainly is room for a greater relative comeback, if the ratio rises to close the gap with this long-term moving average. But until the 200-DMA is reclaimed, and its downward slope at least eases, tech could ultimately still be in for more trouble, or further volatility, relative to banks.</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   FOR FRIDAY'S LIVE MARKETS' POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE:  </p><p>    &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ TechvsBanks06112021     AAII06112021     UMich     UMich inflation expectations     stoxx    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt;</p><p>(Terence Gabriel is a Reuters market analyst. The views expressed are his own)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite","GME":"游戏驿站",".SPX":"S&P 500 Index","AMC":"AMC院线",".DJI":"道琼斯"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142204999","content_text":"* Nasdaq, S&P 500 edge up, Dow slips; small caps rally   * Tech leads major S&P sector gainers; healthcare weakest group   * Dollar, crude up; gold down; bitcoin ~flat   * U.S. 10-Year Treasury yield ~1.46%    June 11 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com    S&P 500 HAS BEST EARNINGS GROWTH SINCE 2010 (1400 EDT/1800 GMT)   After much-stronger-than-expected results coming steadily throughout the first-quarter reporting period, S&P 500    companies finished off the season with their biggest quarterly percentage increase in earnings since the first quarter of 2010, just after the financial crisis, according to data from Refinitiv.   Earnings, which are rebounding from last year's pandemic-fueled lows, rose 52.7% in the first quarter from the previous year, the highest growth rate since first-quarter 2010's 58.3%, based on Refinitiv's data.   The reporting period registered some other milestones as well.   The 87.3% of reports that came in ahead of analysts' estimates for earnings per share was the highest beat rate on record going back to 1994, when Refinitiv began tracking the data.   Also, the earnings \"surprise factor\" of 22.3% was the second-highest on record for Refinitiv.   All eyes will soon be on second-quarter earnings, with the growth rate expected to be the highest for 2021.   (Caroline Valetkevitch)   *****   FED LIKELY TO KEEP FLEXIBILITY ON TAPERING AT MEETING -MORGAN STANLEY (1345 EDT/1745 GMT) Morgan Stanley in its research note on Friday said it expects the Federal Open Market Committee $(FOMC)$ at next week's policy meeting to lay the groundwork for increased flexibility on its quantitative easing program by \"talking about talking about tapering\".    The bank believes the most significant changes in the June summary of economic projections would likely come in the inflation outlook and the Fed officials' median projection on the number of rate moves, more commonly referred to as the \"dot plot\".   \"We expect especially notable near-term upward revisions to inflation projections, while we think the most likely outcome for the dot plot will show an even split among the Committee (9 vs. 9) on rate hikes in 2023.\"    The FOMC has made it abundantly clear though that any change in policy is conditional on the evolution of the economic data.   Morgan Stanley said in that regard, incoming U.S. economic numbers have been overcoming necessary hurdles, and keeping the FOMC on track for its balance sheet discussions.   The U.S. bank cited the non-farm payrolls for May, which came in at 559,000 new jobs, well short of the 1 million monthly estimates, as well as, the Fed's Beige Book, which reported that economic activity expanded at a somewhat faster rate than the prior reporting period.   Taken together, Morgan Stanley the data should lead the FOMC to maintain its view that \"labor demand remains robust, and labor supply will soon begin to catch up to it.\"   (Gertrude Chavez-Dreyfuss)   ******   INVESTORS TAKE A SPIN AT THE MEME-STOCK CASINO (1219 EDT/1619 GMT)   As part of the most recent American Association of Individual Investors (AAII) sentiment survey  , AAII polled its members for their thoughts on so-called \"meme stocks\", which includes such names as AMC Entertainment   , GameStop   , and BlackBerry , etc.      AAII reported that three out of 10 respondents (30%) said they felt that meme stocks were \"purely speculative and dangerous.\" Many within this group also described investing in meme stocks as a form of \"gambling.\"   An additional 13% of respondents maintained a cautionary outlook on the group, calling them \"foolish and teaching poor investing habits.\" Another 11% of respondents stated that meme stocks pointed to negative market trends, indicating that these investments may lead to \"a speculative bubble or overall market volatility.\"   Meanwhile, 23% of respondents said that they had no specific knowledge or interest in these particular stocks as they don't fit with their investing goals. About 15% of respondents had a somewhat positive to completely positive outlook on them, saying that these types of investments could be rewarding if handled correctly.   Here are a few quotes from investors on the matter:   \"Gambling—pure and simple. Some will win, some will lose and not all will have a good time.\"   \"Kind of scary actually. They are highly volatile, and I fear the volatility can transfer into regular stocks.\"   (Terence Gabriel)   *****   STOXX 600: BIT BY BIT, IT ADDS UP! (1148 EDT/1548 GMT)   The pan-European index secured its fourth weekly gain in a row and closed at a new record high at 457, up 0.7% on the day.    It's fair to say that this week's rise of 1.1% is not spectacular but added to the 0.8%, 1% and 0.4% scored each of the last three Fridays, it adds up!    Among the indexes shining is France's CAC 40 which has claimed the 6,600 bar, its highest since September 2000.    Overall, European shares are now trading at levels only a month ago many investors expected them to be towards the end of 2021.    While many analysts are probably considering revising their targets now, some of the caution across the market can probably be explained by reluctance to buy at a possible peak.    There's also some growing doubt on the reopening trade with the exponential spread of the so-called Delta variant in the UK.   Michael Hewson, a market analyst at CMC Markets noted some underperformance in the travel and leisure sector.    \"Delays to reopening prompted British Airways to put some of their staff back on furlough, while the likes of Cineworld and Wagamama’s owner Restaurant Group (are) down again for the second day in succession as fears grow that next week’s announcement of a wholesale 21st June unlock becomes less likely\".    (Julien Ponthus)    *****   EL SALVADOR COULD SPARK \"CRYPTO-FRIENDLY\" STAMPEDE WHILE THE U.S. LAGS (1130 EDT/1530 GMT)   El Salvador’s historic decision to make bitcoin legal tender could set off a rush of countries competing to be the most “crypto friendly” while the U.S. drags its feet on regulatory issues, according to Kevin Kelly, co-founder and head of global macro strategy at Delphi Digital.   This could increase pressure on U.S. regulators to accommodate crypto enthusiasts, he added.    “Eventually regulators will be forced to tailor the rules, otherwise they face the risk of talent flight to other more favorable countries,” Kelly told the Reuters Global Markets Forum  in an interview.    El Salvador's decision has come with its fair share of criticism, including from the Bank for International Settlements' Benoit Coeure, who called it an \"interesting experiment\" with a \"speculative asset.\"     Bitcoin rose following El Salvador's decision, but remains almost 42% below its all-time high hit in April.    While Kelly sees bitcoin eventually jumping back above $60,000, he sees potential for another sell-off.    \"One of the big reasons for the latest sell-off was the build-up of excessive leverage, when everyone is leveraged long, it's a matter of when -- not if -- a major correction will take place... if we look back historically at similar drawdowns there's evidence we may be in for another sell-off,\" he said.    Meanwhile, Kelly sees cryptocurrencies gaining long-term support as investors search for alternative assets that provide more yield than bonds, particularly sovereign debt.    However, the slowdown in monetary growth could limit bitcoin's short term gains.    \"If you compare bitcoin to the year on year growth in major central bank balance sheets, you'll see that bitcoin's price peaks tend to coincide with a deceleration in central bank asset growth, which is similar to what we're seeing today,\" he added.    (Lisa Mattackal)   *****    UMICH: CONSUMERS, ALONG WITH MARKETS, OBSESS OVER THE \"I\" WORD (1055 EDT/1455 GMT)   Market participants headed toward the weekend with modestly upbeat news about the mindset of the American consumer, who is responsible for about 70% of the U.S. economy.   The University of Michigan's preliminary take on Consumer Sentiment    for June increased to a reading of 86.4, beating the 84 consensus.   While the \"current conditions\" component's gain came in lower than anticipated, \"expectations\" surpassed estimates, suggesting consumers, increasingly inoculated and flush with stimulus cash and savings, see brighter days ahead.   \"The early June gain was mainly among middle and upper income households and for future economic prospects rather than current conditions,\" writes Richard Curtin, chief economist at UMich's Surveys of Consumers. \"Stronger growth in the national economy was anticipated, with an all-time record number of consumers anticipating a net decline in unemployment.\"   With few other things to fret about and indexes floating near all-time highs, market participants have been obsessing in recent weeks over the \"I\" word, inflation that is.   While the demand dam is bursting as Americans economically re-engage, the supply side of the equation is struggling to meet it, resulting in the price spikes seen in recent data, notably Thursday's CPI report.   In fact, Oxford Economics' most recent recovery tracker, which follows 23 discrete economic metrics and groups them into six baskets, shows the demand component was the biggest gainer, and is now at 106.3% compared with the beginning of 2020.   But both consumers and investors increasingly appear to be buying into the Fed's assurances that these price spikes won't metastasize into long-term inflation.   The UMich report shows one-year and five-year inflation expectations ticked down this month, to 4.0% and 2.8%, respectively. Still, those numbers are above the central bank's average annual 2% inflation target.   \"Rising inflation remained a top concern of consumers, although the expected rate of inflation declined in early June,\" Curtin adds. \"Spontaneous references to market prices for homes, vehicles, and household durables fell to their worst level since the all-time record in November 1974.\"   U.S. stocks are mixed in mid-morning trading, with the major indexes slipping into the red.   Tech   , small caps    and transports    are among the gainers.   (Stephen Culp)   *****   INVESTORS CROWD THE FENCE (1001 EDT/1401 GMT)   The percentage of individual investors characterizing their short-term outlook for the U.S. stock market as \"neutral\" approached 40% in the latest American Association of Individual Investors Sentiment Survey. With this, pessimism also bounced, while optimism fell.      AAII reported that neutral sentiment, or expectations that stock prices will be essentially flat over the next six months, increased 2.9 percentage points to 39.1%. This is the highest reading since January 1, 2020 (40.9%). Neutral sentiment is above its historical average of 31.5% for the seventh consecutive week but just the eighth time this year.   Bearish sentiment, or expectations that stock prices will decline over the next six months, edged up 0.9 percentage points to 20.7%. Bearish sentiment is below its historical average of 30.5% for the 18th consecutive week.   Bullish sentiment, or expectations that stock prices will gain over the next six months, fell 3.8 percentage points to 40.2%. Optimism remains above its historical average of 38.0% for the 25th week out of the past 30 weeks.   AAII noted that, at current levels, pessimism remains unusually low. \"Historically, below-average readings for bearish sentiment have been followed by below-average six- and 12-month returns for the S&P 500 index.\"    With these changes, the bull-bear spread fell to +19.5 from +24.3 last week:   (Terence Gabriel)   *****   TECH VS BANKS: HAS THE SWITCH FLIPPED? (0900 EDT/1300 GMT)   Since tech peaked vs financials and banks in September of last year  , growth has been on the back foot vs value. However, with the U.S. 10-Year Treasury yield    hitting 3-month lows, tech, and growth, are enjoying a bit of a reprieve vs banks and value.     Indeed, the tech   /banks    ratio is currently on pace for its best weekly performance since mid-January. On a monthly basis, it is tracking its biggest rise since August of last year.   That said, tech may still have work to do on the charts to suggest a more enduring relative low vs banks is in:   The ratio is attempting to turn up well ahead of a 15-year log-scale support line, as well as the Y2K tech bubble and financial crisis peaks, which should now also act as support levels.   However, the ratio remains well below its descending 200-day moving average.   There certainly is room for a greater relative comeback, if the ratio rises to close the gap with this long-term moving average. But until the 200-DMA is reclaimed, and its downward slope at least eases, tech could ultimately still be in for more trouble, or further volatility, relative to banks.   (Terence Gabriel)   *****   FOR FRIDAY'S LIVE MARKETS' POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE:      <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ TechvsBanks06112021     AAII06112021     UMich     UMich inflation expectations     stoxx       ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>(Terence Gabriel is a Reuters market analyst. The views expressed are his own)","news_type":1},"isVote":1,"tweetType":1,"viewCount":384,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181261421,"gmtCreate":1623396971463,"gmtModify":1704202490477,"author":{"id":"3575669035209169","authorId":"3575669035209169","name":"MistaVista","avatar":"https://static.tigerbbs.com/2dc3b115d10273e1cd95c4ab2b651dc6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575669035209169","authorIdStr":"3575669035209169"},"themes":[],"htmlText":"nice work&nbsp;","listText":"nice work&nbsp;","text":"nice work","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/181261421","repostId":"1184070773","repostType":4,"repost":{"id":"1184070773","kind":"news","pubTimestamp":1623367038,"share":"https://ttm.financial/m/news/1184070773?lang=&edition=fundamental","pubTime":"2021-06-11 07:17","market":"us","language":"en","title":"S&P 500 climbs to a new record close, shrugging off inflation fears","url":"https://stock-news.laohu8.com/highlight/detail?id=1184070773","media":"cnbc","summary":"The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.The broad equity benchmark climbed nearly 0.5% to a record closing high of 4,239.18. The S&P 500 also hit an intraday record of 4,249.74, overtaking its May 7 high after the market traded sideways for a month. The Dow Jones Industrial Average advanced 19.10 points, or less than 0.1%, to 34,466.24, while the Nasdaq Composite gained about ","content":"<div>\n<p>The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.\nThe broad equity benchmark climbed ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 climbs to a new record close, shrugging off inflation fears</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 climbs to a new record close, shrugging off inflation fears\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 07:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.\nThe broad equity benchmark climbed ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站",".DJI":"道琼斯","UPS":"联合包裹",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1184070773","content_text":"The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.\nThe broad equity benchmark climbed nearly 0.5% to a record closing high of 4,239.18. The S&P 500 also hit an intraday record of 4,249.74, overtaking its May 7 high after the market traded sideways for a month. The Dow Jones Industrial Average advanced 19.10 points, or less than 0.1%, to 34,466.24, while the Nasdaq Composite gained about 0.8% to 14,020.33.\nConsumer prices for May accelerated at their fastest pace since the summer of 2008 amid the economic recovery from the pandemic-triggered recession,the Labor Department reported Thursday.\nThe consumer price index, which represents a basket including food, energy, groceries and prices across a spectrum of goods, rose 5% from a year ago. Economists surveyed by Dow Jones had been expecting a gain of 4.7%.\n\"I think there were a lot of people who held back, who wanted to see the hotter inflation number,\" CNBC's Jim Cramer said on \"Squawk on the Street.\" \"Now they've said, 'OK, now that's over with. Let's do some buying.' Because they've been on the sideline and they want to get in. I don't think that's actually usual these days because there's still so much buying power out there. People want in.\"\nFears of spiking inflation have weighed on the stock market in the last month, with investors worried the jump in prices will raise costs for companies, spark a move higher in interest rates and cause the Federal Reserve to remove its easy money policies.\n\"This CPI isn't likely to change the narrative dramatically, and there are still indications that inflation momentum is set to abate in the coming months,\" Adam Crisafulli, founder of Vital Knowledge, said in a note Thursday.\nMany economists also said the surge in used car costs for the month could have skewed the inflation reading. Used car and truck prices jumped more than 7%, accounting for one-third of the total increase for the month, according to the Bureau of Labor Statistics. The jump in used car prices likely reflects a temporary phenomenon related to the pandemic and auto supply.\nA separate report released Thursday showed that jobless claims for the week ended June 5 came in at 376,000, versus a Dow Jones estimate of 370,000. The total still marked the lowest of the pandemic era.\nUPS shares rose about 1% afteran upgrade from JPMorgan. Shares of Boeing were higher, but Delta Air Lines slipped.\nVideo-game retailer and meme stock GameStop fell 27% even after the company tapped former Amazon executive Matt Furlong to be its next CEO and said that sales rose 25% last quarter. The company also said it may sell up to 5 million additional shares.","news_type":1},"isVote":1,"tweetType":1,"viewCount":349,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}