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2022-05-11

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2022-05-11

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Cathie Wood's ARK Invest Trades for 5/10: Sell Baidu; Buy Twist Bioscience

2022-05-09

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Nasdaq Bear Market: 3 Jaw-Dropping Growth Stocks You'll Regret Not Buying on the Dip

2022-05-09

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2022-05-07

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Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought

2022-05-06

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2022-05-06

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U.S. Stocks To Watch: Block, Under Armour, Cigna and More

2022-05-03

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An Incredible Stock Market Money-Making Opportunity Is Fast Approaching

2022-04-30

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2022-04-27

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2022-04-26

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2022-04-24

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Will Nvidia Be a Trillion-Dollar Stock by 2025?

2022-04-18

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3 Monster Growth Stocks That Can Turn $200,000 Into $1 Million by 2030

2022-04-16

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Twitter Adopts "Poison Pill" to Fight Musk Takeover

2022-04-13

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Shopify, Alphabet, Amazon, and Tesla Stocks Are Splitting -- Which Ones Are the Best Buys?

2022-04-11

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Want $1 Million in Retirement? Invest $100,000 in These 3 Stocks and Wait a Decade

2022-04-09

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Is Apple Stock A Buy, Sell, Or Hold?

2022-04-07

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This Growth Stock Could 10X in 10 Years

2022-04-06

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2 Stocks Under $10 That This Insider Is Aggressively Buying

2022-04-03

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Tesla Delivers 310,048 Electric Vehicles in the First Quarter

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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":1652238715,"share":"https://www.laohu8.com/m/news/1113081502?lang=&edition=full","pubTime":"2022-05-11 11:11","market":"us","language":"en","title":"Cathie Wood's ARK Invest Trades for 5/10: Sell Baidu; Buy Twist Bioscience","url":"https://stock-news.laohu8.com/highlight/detail?id=1113081502","media":"Tiger Newspress","summary":"ARK Invest has been the talk of Wall Street over the past couple of years, outperforming the market ","content":"<html><head></head><body><p>ARK Invest has been the talk of Wall Street over the past couple of years, outperforming the market and solidifying its place among the big players in the investments world. Wood is the founder and head of this investment house, and many have compared her rising star to the likes of Warren Buffett.</p><p><b>Cathie Wood&#39;s ARK Invest Buys for 5/10</b></p><p>The ARK Fintech Innovation ETF (NYSEARCA: ARKF) deals mainly with up-and-coming fintech stocks, as the name suggests. Some of its biggest holdings include Square, Zillow, Pinterest, PayPal and Alibaba. Net assets for the fund are currently $2.2 billion. Here are some notable purchases in this fund:<b>NO BUYS</b><b>.</b></p><p>ARK Genomic Revolution ETF (NYSEARCA: ARKG) looks at companies across multiple industries, but the general focus is on health care and companies that are changing the game technologically in this field. The biggest holdings are Pacific Biosciences, Teladoc Health, CRISPR and Fate Therapeutics. Net assets for the fund are currently $5.1 billion. Here are some notable buys in this fund:<b>17,100</b><b> shares of </b><b>Twist Bioscience</b><b>, </b><b>72,037</b><b> shares of </b><b>Adaptive Biotechnologies</b><b>.</b></p><p>ARK Innovation ETF (NYSEARCA: ARKK) has a particular focus on disruptive innovation across multiple industries, but primarily tech. Some of the biggest names are in this fund, including Tesla, Roku, Square, Zillow and Spotify. Net assets for this fund are currently $16.2 billion. Here are some notable purchases in this fund:<b>19,839</b><b> shares of Twist Bioscience.</b></p><p>ARK Autonomous Technology &amp; Robotics ETF (NYSEARCA: ARKQ) is focused, unsurprisingly, on companies that are in the field of autonomous technology and robotics, specifically ones that are disruptively innovating. Big names in this fund include Tesla, Alphabet, JD.com, Baidu and Iridium. Net assets for this fund are currently $2.2 billion. Here are some notable purchases in the fund:<b>337,200</b><b> shares of </b><b>Vuzix</b><b>,</b><b>330,329</b><b> shares of</b> <b>Velo3D</b><b>,</b><b>49,566</b><b> shares of</b> <b>Kratos Defense and Security Solutions</b><b>.</b></p><p>ARK Next Generation Internet ETF (NYSEARCA: ARKW) is focused on companies that are disruptively innovating within the theme of the next generation of the internet. Some names in this fund are similar to the others, including Tesla, Square, Grayscale Bitcoin Trust, Facebook and Snap. Net assets for this fund are currently $3.8 billion. Here are the notable purchases in the fund:<b>NO BUYS.</b></p><p>Ark Space Exploration &amp; Innovation ETF (NYSEARCA: ARKX) is focused primarily on companies developing technology around spaceflight. Big names in this fund include Trimble, Kratos, Nvidia, Amazon and Iridium. Net assets for this fund are currently $468.9 million. Notable trades in the fund:<b>89,246</b><b> shares of </b><b>Velo3D</b><b>,</b><b>11,619</b><b> shares of Kratos Defense and Security Solutions.</b></p><p><b>Cathie Wood&#39;s ARK Invest Sells for 5/10</b></p><p>The ARK Fintech Innovation ETF (NYSEARCA: ARKF) deals mainly with up-and-coming fintech stocks, as the name suggests. Some of its biggest holdings include Square, Zillow, Pinterest, PayPal and Alibaba. Net assets for the fund are currently $2.2 billion. Here is a notable sale in this fund:<b>NO SALES</b><b>.</b></p><p>ARK Genomic Revolution ETF (NYSEARCA: ARKG) looks at companies across multiple industries, but the general focus is on health care and companies that are changing the game technologically in this field. The biggest holdings are Pacific Biosciences, Teladoc Health, CRISPR and Fate Therapeutics. Net assets for the fund are currently $5.1 billion. Here is a notable sale in this fund:<b>631,449</b><b> shares of </b><b>Burning Rock Biotech,</b> <b>175,285</b><b> shares of</b> <b>Editas Medicine</b><b>.</b></p><p>ARK Innovation ETF (NYSEARCA: ARKK) has a particular focus on disruptive innovation across multiple industries, but primarily tech. Some of the biggest names are in this fund, including Tesla, Roku, Square, Zillow and Spotify. Net assets for this fund are currently $16.2 billion. Here are the notable sales in this fund:<b>NO SALES.</b></p><p>ARK Autonomous Technology &amp; Robotics ETF (NYSEARCA: ARKQ) is focused, unsurprisingly, on companies that are in the field of autonomous technology and robotics, specifically ones that are disruptively innovating. Big names in this fund include Tesla, Alphabet, JD.com, Baidu and Iridium. Net assets for this fund are currently $2.2 billion. Here are a couple of notable trades in the fund:<b>32,214</b><b> shares of</b> <b>Baidu.</b></p><p>ARK Next Generation Internet ETF (NYSEARCA: ARKW) is focused on companies that are disruptively innovating within the theme of the next generation of the internet. Some names in this fund are similar to the others, including Tesla, Square, Grayscale Bitcoin Trust, Facebook and Snap. Net assets for this fund are currently $3.8 billion. Here are the notable sales in this fund:<b>200,000</b><b> shares of Nano Dimension.</b></p><p>Ark Space Exploration &amp; Innovation ETF (NYSEARCA: ARKX) is focused primarily on companies developing technology around spaceflight. Big names in this fund include Trimble, Kratos, Nvidia, Amazon and Iridium. Net assets for this fund are currently $468.9 million. A notable sale in this fund:<b>NO SALES.</b></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>Cathie Wood's ARK Invest Trades for 5/10: Sell Baidu; Buy Twist Bioscience</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\">\nCathie Wood's ARK Invest Trades for 5/10: Sell Baidu; Buy Twist Bioscience\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-05-11 11:11</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>ARK Invest has been the talk of Wall Street over the past couple of years, outperforming the market and solidifying its place among the big players in the investments world. Wood is the founder and head of this investment house, and many have compared her rising star to the likes of Warren Buffett.</p><p><b>Cathie Wood&#39;s ARK Invest Buys for 5/10</b></p><p>The ARK Fintech Innovation ETF (NYSEARCA: ARKF) deals mainly with up-and-coming fintech stocks, as the name suggests. Some of its biggest holdings include Square, Zillow, Pinterest, PayPal and Alibaba. Net assets for the fund are currently $2.2 billion. Here are some notable purchases in this fund:<b>NO BUYS</b><b>.</b></p><p>ARK Genomic Revolution ETF (NYSEARCA: ARKG) looks at companies across multiple industries, but the general focus is on health care and companies that are changing the game technologically in this field. The biggest holdings are Pacific Biosciences, Teladoc Health, CRISPR and Fate Therapeutics. Net assets for the fund are currently $5.1 billion. Here are some notable buys in this fund:<b>17,100</b><b> shares of </b><b>Twist Bioscience</b><b>, </b><b>72,037</b><b> shares of </b><b>Adaptive Biotechnologies</b><b>.</b></p><p>ARK Innovation ETF (NYSEARCA: ARKK) has a particular focus on disruptive innovation across multiple industries, but primarily tech. Some of the biggest names are in this fund, including Tesla, Roku, Square, Zillow and Spotify. Net assets for this fund are currently $16.2 billion. Here are some notable purchases in this fund:<b>19,839</b><b> shares of Twist Bioscience.</b></p><p>ARK Autonomous Technology &amp; Robotics ETF (NYSEARCA: ARKQ) is focused, unsurprisingly, on companies that are in the field of autonomous technology and robotics, specifically ones that are disruptively innovating. Big names in this fund include Tesla, Alphabet, JD.com, Baidu and Iridium. Net assets for this fund are currently $2.2 billion. Here are some notable purchases in the fund:<b>337,200</b><b> shares of </b><b>Vuzix</b><b>,</b><b>330,329</b><b> shares of</b> <b>Velo3D</b><b>,</b><b>49,566</b><b> shares of</b> <b>Kratos Defense and Security Solutions</b><b>.</b></p><p>ARK Next Generation Internet ETF (NYSEARCA: ARKW) is focused on companies that are disruptively innovating within the theme of the next generation of the internet. Some names in this fund are similar to the others, including Tesla, Square, Grayscale Bitcoin Trust, Facebook and Snap. Net assets for this fund are currently $3.8 billion. Here are the notable purchases in the fund:<b>NO BUYS.</b></p><p>Ark Space Exploration &amp; Innovation ETF (NYSEARCA: ARKX) is focused primarily on companies developing technology around spaceflight. Big names in this fund include Trimble, Kratos, Nvidia, Amazon and Iridium. Net assets for this fund are currently $468.9 million. Notable trades in the fund:<b>89,246</b><b> shares of </b><b>Velo3D</b><b>,</b><b>11,619</b><b> shares of Kratos Defense and Security Solutions.</b></p><p><b>Cathie Wood&#39;s ARK Invest Sells for 5/10</b></p><p>The ARK Fintech Innovation ETF (NYSEARCA: ARKF) deals mainly with up-and-coming fintech stocks, as the name suggests. Some of its biggest holdings include Square, Zillow, Pinterest, PayPal and Alibaba. Net assets for the fund are currently $2.2 billion. Here is a notable sale in this fund:<b>NO SALES</b><b>.</b></p><p>ARK Genomic Revolution ETF (NYSEARCA: ARKG) looks at companies across multiple industries, but the general focus is on health care and companies that are changing the game technologically in this field. The biggest holdings are Pacific Biosciences, Teladoc Health, CRISPR and Fate Therapeutics. Net assets for the fund are currently $5.1 billion. Here is a notable sale in this fund:<b>631,449</b><b> shares of </b><b>Burning Rock Biotech,</b> <b>175,285</b><b> shares of</b> <b>Editas Medicine</b><b>.</b></p><p>ARK Innovation ETF (NYSEARCA: ARKK) has a particular focus on disruptive innovation across multiple industries, but primarily tech. Some of the biggest names are in this fund, including Tesla, Roku, Square, Zillow and Spotify. Net assets for this fund are currently $16.2 billion. Here are the notable sales in this fund:<b>NO SALES.</b></p><p>ARK Autonomous Technology &amp; Robotics ETF (NYSEARCA: ARKQ) is focused, unsurprisingly, on companies that are in the field of autonomous technology and robotics, specifically ones that are disruptively innovating. Big names in this fund include Tesla, Alphabet, JD.com, Baidu and Iridium. Net assets for this fund are currently $2.2 billion. Here are a couple of notable trades in the fund:<b>32,214</b><b> shares of</b> <b>Baidu.</b></p><p>ARK Next Generation Internet ETF (NYSEARCA: ARKW) is focused on companies that are disruptively innovating within the theme of the next generation of the internet. Some names in this fund are similar to the others, including Tesla, Square, Grayscale Bitcoin Trust, Facebook and Snap. Net assets for this fund are currently $3.8 billion. Here are the notable sales in this fund:<b>200,000</b><b> shares of Nano Dimension.</b></p><p>Ark Space Exploration &amp; Innovation ETF (NYSEARCA: ARKX) is focused primarily on companies developing technology around spaceflight. Big names in this fund include Trimble, Kratos, Nvidia, Amazon and Iridium. Net assets for this fund are currently $468.9 million. A notable sale in this fund:<b>NO SALES.</b></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BNR":"燃石医学","ARKX":"ARK Space Exploration & Innovation ETF","ARKG":"ARK Genomic Revolution ETF","NNDM":"Nano Dimension Ltd.","VLD":"Velo3D, Inc.","BIDU":"百度","ARKK":"ARK Innovation ETF","VUZI":"Vuzix","KTOS":"克瑞拓斯安全防卫","ARKQ":"ARK Autonomous Technology & Robotics ETF","EDIT":"Editas Medicine, Inc.","ARKF":"ARK Fintech Innovation ETF","TWST":"Twist Bioscience Corp","ARKW":"ARK Next Generation Internation ETF","ADPT":"Adaptive Biotechnologies Corp"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113081502","content_text":"ARK Invest has been the talk of Wall Street over the past couple of years, outperforming the market and solidifying its place among the big players in the investments world. Wood is the founder and head of this investment house, and many have compared her rising star to the likes of Warren Buffett.Cathie Wood's ARK Invest Buys for 5/10The ARK Fintech Innovation ETF (NYSEARCA: ARKF) deals mainly with up-and-coming fintech stocks, as the name suggests. Some of its biggest holdings include Square, Zillow, Pinterest, PayPal and Alibaba. Net assets for the fund are currently $2.2 billion. Here are some notable purchases in this fund:NO BUYS.ARK Genomic Revolution ETF (NYSEARCA: ARKG) looks at companies across multiple industries, but the general focus is on health care and companies that are changing the game technologically in this field. The biggest holdings are Pacific Biosciences, Teladoc Health, CRISPR and Fate Therapeutics. Net assets for the fund are currently $5.1 billion. Here are some notable buys in this fund:17,100 shares of Twist Bioscience, 72,037 shares of Adaptive Biotechnologies.ARK Innovation ETF (NYSEARCA: ARKK) has a particular focus on disruptive innovation across multiple industries, but primarily tech. Some of the biggest names are in this fund, including Tesla, Roku, Square, Zillow and Spotify. Net assets for this fund are currently $16.2 billion. Here are some notable purchases in this fund:19,839 shares of Twist Bioscience.ARK Autonomous Technology & Robotics ETF (NYSEARCA: ARKQ) is focused, unsurprisingly, on companies that are in the field of autonomous technology and robotics, specifically ones that are disruptively innovating. Big names in this fund include Tesla, Alphabet, JD.com, Baidu and Iridium. Net assets for this fund are currently $2.2 billion. Here are some notable purchases in the fund:337,200 shares of Vuzix,330,329 shares of Velo3D,49,566 shares of Kratos Defense and Security Solutions.ARK Next Generation Internet ETF (NYSEARCA: ARKW) is focused on companies that are disruptively innovating within the theme of the next generation of the internet. Some names in this fund are similar to the others, including Tesla, Square, Grayscale Bitcoin Trust, Facebook and Snap. Net assets for this fund are currently $3.8 billion. Here are the notable purchases in the fund:NO BUYS.Ark Space Exploration & Innovation ETF (NYSEARCA: ARKX) is focused primarily on companies developing technology around spaceflight. Big names in this fund include Trimble, Kratos, Nvidia, Amazon and Iridium. Net assets for this fund are currently $468.9 million. Notable trades in the fund:89,246 shares of Velo3D,11,619 shares of Kratos Defense and Security Solutions.Cathie Wood's ARK Invest Sells for 5/10The ARK Fintech Innovation ETF (NYSEARCA: ARKF) deals mainly with up-and-coming fintech stocks, as the name suggests. Some of its biggest holdings include Square, Zillow, Pinterest, PayPal and Alibaba. Net assets for the fund are currently $2.2 billion. Here is a notable sale in this fund:NO SALES.ARK Genomic Revolution ETF (NYSEARCA: ARKG) looks at companies across multiple industries, but the general focus is on health care and companies that are changing the game technologically in this field. The biggest holdings are Pacific Biosciences, Teladoc Health, CRISPR and Fate Therapeutics. Net assets for the fund are currently $5.1 billion. Here is a notable sale in this fund:631,449 shares of Burning Rock Biotech, 175,285 shares of Editas Medicine.ARK Innovation ETF (NYSEARCA: ARKK) has a particular focus on disruptive innovation across multiple industries, but primarily tech. Some of the biggest names are in this fund, including Tesla, Roku, Square, Zillow and Spotify. Net assets for this fund are currently $16.2 billion. Here are the notable sales in this fund:NO SALES.ARK Autonomous Technology & Robotics ETF (NYSEARCA: ARKQ) is focused, unsurprisingly, on companies that are in the field of autonomous technology and robotics, specifically ones that are disruptively innovating. Big names in this fund include Tesla, Alphabet, JD.com, Baidu and Iridium. Net assets for this fund are currently $2.2 billion. Here are a couple of notable trades in the fund:32,214 shares of Baidu.ARK Next Generation Internet ETF (NYSEARCA: ARKW) is focused on companies that are disruptively innovating within the theme of the next generation of the internet. Some names in this fund are similar to the others, including Tesla, Square, Grayscale Bitcoin Trust, Facebook and Snap. Net assets for this fund are currently $3.8 billion. Here are the notable sales in this fund:200,000 shares of Nano Dimension.Ark Space Exploration & Innovation ETF (NYSEARCA: ARKX) is focused primarily on companies developing technology around spaceflight. Big names in this fund include Trimble, Kratos, Nvidia, Amazon and Iridium. Net assets for this fund are currently $468.9 million. A notable sale in this fund:NO SALES.","news_type":1},"isVote":1,"tweetType":1,"viewCount":119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9062501562,"gmtCreate":1652072455456,"gmtModify":1676535024698,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9062501562","repostId":"2233326561","repostType":4,"repost":{"id":"2233326561","pubTimestamp":1652053839,"share":"https://www.laohu8.com/m/news/2233326561?lang=&edition=full","pubTime":"2022-05-09 07:50","market":"us","language":"en","title":"Nasdaq Bear Market: 3 Jaw-Dropping Growth Stocks You'll Regret Not Buying on the Dip","url":"https://stock-news.laohu8.com/highlight/detail?id=2233326561","media":"Motley Fool","summary":"These fast-paced stocks are screaming buys following a peak decline of 24% in the Nasdaq.","content":"<html><head></head><body><p>It&#39;s been an incredibly rough start to 2022 for Wall Street and investors. After hitting all-time closing highs during the first week of January, the widely followed <b>S&amp;P 500</b> and iconic <b>Dow Jones Industrial Average</b> have both retracted by more than 10%, thereby hitting official correction territory.</p><p>It&#39;s been an even tougher go for the technology-focused <b>Nasdaq Composite</b>. Last week, the index dropped as much as 24% below its November 2021 high. This places the high-flying Nasdaq in a bear market.</p><p>Although big declines in the stock market can tug on investors&#39; emotions, history is pretty clear that buying stocks during corrections and bear markets is an incredibly smart move. Over time, all notable declines in the major indexes, including the Nasdaq Composite, are eventually wiped away by a bull-market rally.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bfa6ff2b91c8f20bca964751a738928f\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"/><span>Image source: Getty Images.</span></p><p>With the Nasdaq falling into a bear market, it&#39;s the perfect time for opportunistic investors to go on the offensive. What follows are three jaw-dropping growth stocks you&#39;ll regret not buying on the dip.</p><h2>CrowdStrike Holdings</h2><p>The first incredible growth stock you&#39;ll be kicking yourself over if you don&#39;t buy soon is cybersecurity company <b>CrowdStrike Holdings</b>. Shares of the company have tumbled 33% since hitting their all-time high.</p><p>The obvious worry at the moment for fast-paced companies is that historically high inflation, and the Federal Reserve raising rates to stamp out that inflation, will send the U.S. economy into a recession. That would be generally bad news, at least in the short run, for cyclical businesses.</p><p>However, cybersecurity isn&#39;t a cyclical business. Over the past two decades, it&#39;s evolved into a basic necessity that businesses of all sizes rely on. No matter how well or poorly the U.S. economy or stock market are performing, hackers and robots don&#39;t take days off from trying to steal consumer and enterprise data. As more businesses shifted their data online and into the cloud during the pandemic, third-party providers like CrowdStrike have seen demand soar.</p><p>What makes CrowdStrike tick is the company&#39;s Falcon security platform. Falcon was built entirely in the cloud and is guided by artificial intelligence. These factors -- which help it to oversee about 1 trillion events daily -- allow Falcon to quickly assess and respond to potential threats. While CrowdStrike isn&#39;t the cheapest option in end-user security, its gross retention rate of 98% suggests it&#39;s one of the best and well worth the cost.</p><p>CrowdStrike&#39;s operating results demonstrate that it&#39;s had no issue attracting new customers. Over the past five years, CrowdStrike&#39;s subscribing customer count has averaged annual growth of 105% (450 to 16,325).</p><p>But what&#39;s far more impressive is how successful it&#39;s been at getting existing clients to spend more. Over the past 16 quarters (four full years), CrowdStrike&#39;s dollar-based retention rates haven&#39;t dipped below 120%. Put another way, each year&#39;s existing customers are spending at least 20% more in the following year. Moreover, the percentage of clients that purchase four or more cloud-module subscriptions has grown from 9% to 69% in five years.</p><p>CrowdStrike has all the attributes of a company that can continue to blow Wall Street&#39;s loftiest expectations out of the water.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a38605bee8e62f3e8aa414fa24278e7e\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"/><span>Image source: Getty Images.</span></p><h2>Novavax</h2><p>A second jaw-dropping growth stock you&#39;ll regret not picking up on the dip is biotech stock <b>Novavax</b>. If you think CrowdStrike has had it rough, shares of Novavax are lower by nearly 80% relative to their 52-week high.</p><p>The big concern Wall Street has with Novavax is the delayed rollout of its COVID-19 vaccine, NVX-CoV2373.</p><p>Last year, Novavax completed two large-scale studies involving its vaccine, which demonstrated respective efficacy of 89.7% (U.K. study) and 90.4% (U.S. and Mexico trial). It also reported an 80% vaccine efficacy in teens earlier this year. NVX-CoV2373 is one of only three COVID-19 vaccines to hit the 90% efficacy threshold in any late-stage study. That would, presumably, give it a good shot at becoming a key player in initial inoculations and booster shots.</p><p>However, Novavax delayed its emergency-use authorization (EUA) filings until the latter part of 2021 in many developed markets, and has somewhat struggled to ramp up production to meet orders. These short-term concerns have weighed heavily on its share price.</p><p>The good news is that Novavax fully expects $4 billion to $5 billion in sales this year. This suggests it&#39;ll have no trouble meeting its vaccine production obligations. Even with some developed countries returning to some semblance of normal, the global pandemic is still ongoing, and mutations of the SARS-CoV-2 virus give NVX-CoV2373 plenty of runway as a booster option.</p><p>What&#39;s more, a U.S. Food and Drug Administration&#39;s advisory committee plans to review Novavax&#39;s vaccine on June 7, 2022, which could lead to a possible EUA. Even though most Americans who wanted a COVID-19 vaccine have received one, Novavax can still play a key role in adult booster shots and perhaps initial inoculations for teens.</p><p>The company also has an opportunity to become a leader in combination vaccines, such as those aimed at both influenza and COVID-19. Whereas Novavax trailed other drugmakers to market with its COVID-19 vaccine, it could be one of the first to market with a combination vaccine.</p><p>Novavax can be purchased for less than 3 times Wall Street&#39;s forecast earnings for 2022, and is sitting on roughly $1 billion in net cash. It&#39;s one heck of a bargain.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6b9639bb0d427809903d52e39b175879\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"/><span>Image source: Getty Images.</span></p><h2><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings</h2><p>A third and final jaw-dropping growth stock you&#39;ll regret not buying on the dip is fintech giant <b>PayPal Holdings</b>. Shares of PayPal have collapsed 71% in less than 10 months.</p><p>PayPal&#39;s issues tend to mirror those I described with CrowdStrike. The difference is that PayPal <i>is</i> cyclical and not a basic-necessity business, and could therefore feel the pinch of higher inflation and reduced spending -- especially among lower-income consumers. Historically high inflation and an uncertain economic outlook have coerced PayPal to lower its earnings forecast three times over the past year.</p><p>Yet even with these near-term negatives, many of PayPal&#39;s key performance indicators are moving in the right direction. Although net new account (NNA) growth slowed, the company still increased its NNAs by 2.4 million in the first quarter. Keep in mind that first-quarter U.S. gross domestic product came in at <i>negative</i> 1.4%, but PayPal still grew its digital user base.</p><p>Total payment volume is also slated to increase by a double-digit percentage at a time when consumers are taking it on the chin. Even PayPal&#39;s reduced forecast calls for more than $1.4 trillion in TPV in 2022, with aggregate growth of 11% to 13% over 2021. If that&#39;s a bad year for PayPal, I can&#39;t wait to see what happens when economic activity normalizes in a couple of quarters.</p><p>Perhaps most exciting is the fact that PayPal&#39;s active counts are relying on digital payments to a greater degree with each passing quarter. In 2020, active users averaged 40.9 transactions on a trailing-12-month (TTM) basis. But in the most recently ended quarter, PayPal noted 47 transactions per active user on a TTM basis. This statistic above all others suggests that PayPal is on the right track, and that this latest pullback in its shares is a monster opportunity to buy.</p><p>Keeping in mind that Wall Street&#39;s earnings forecast for the company remains fluid, shares can be gobbled up right now for 18 times forward-year earnings. Simply put, this fintech juggernaut has never been cheaper.</p></body></html>","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>Nasdaq Bear Market: 3 Jaw-Dropping Growth Stocks You'll Regret Not Buying on the Dip</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\">\nNasdaq Bear Market: 3 Jaw-Dropping Growth Stocks You'll Regret Not Buying on the Dip\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-09 07:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/05/07/nasdaq-bear-market-3-growth-stocks-regret-not-buy/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It's been an incredibly rough start to 2022 for Wall Street and investors. After hitting all-time closing highs during the first week of January, the widely followed S&P 500 and iconic Dow Jones ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/05/07/nasdaq-bear-market-3-growth-stocks-regret-not-buy/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4548":"巴美列捷福持仓","CRWD":"CrowdStrike Holdings, Inc.","NVAX":"诺瓦瓦克斯医药","TTM":"塔塔汽车","BK4106":"数据处理与外包服务","BK4554":"元宇宙及AR概念","BNTX":"BioNTech SE","BK4534":"瑞士信贷持仓","BK4523":"印度概念","BK4139":"生物科技","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","BK4535":"淡马锡持仓","BK4524":"宅经济概念","BK4527":"明星科技股","BK4568":"美国抗疫概念","BK4551":"寇图资本持仓","BK4581":"高盛持仓","PYPL":"PayPal","BK4099":"汽车制造商"},"source_url":"https://www.fool.com/investing/2022/05/07/nasdaq-bear-market-3-growth-stocks-regret-not-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2233326561","content_text":"It's been an incredibly rough start to 2022 for Wall Street and investors. After hitting all-time closing highs during the first week of January, the widely followed S&P 500 and iconic Dow Jones Industrial Average have both retracted by more than 10%, thereby hitting official correction territory.It's been an even tougher go for the technology-focused Nasdaq Composite. Last week, the index dropped as much as 24% below its November 2021 high. This places the high-flying Nasdaq in a bear market.Although big declines in the stock market can tug on investors' emotions, history is pretty clear that buying stocks during corrections and bear markets is an incredibly smart move. Over time, all notable declines in the major indexes, including the Nasdaq Composite, are eventually wiped away by a bull-market rally.Image source: Getty Images.With the Nasdaq falling into a bear market, it's the perfect time for opportunistic investors to go on the offensive. What follows are three jaw-dropping growth stocks you'll regret not buying on the dip.CrowdStrike HoldingsThe first incredible growth stock you'll be kicking yourself over if you don't buy soon is cybersecurity company CrowdStrike Holdings. Shares of the company have tumbled 33% since hitting their all-time high.The obvious worry at the moment for fast-paced companies is that historically high inflation, and the Federal Reserve raising rates to stamp out that inflation, will send the U.S. economy into a recession. That would be generally bad news, at least in the short run, for cyclical businesses.However, cybersecurity isn't a cyclical business. Over the past two decades, it's evolved into a basic necessity that businesses of all sizes rely on. No matter how well or poorly the U.S. economy or stock market are performing, hackers and robots don't take days off from trying to steal consumer and enterprise data. As more businesses shifted their data online and into the cloud during the pandemic, third-party providers like CrowdStrike have seen demand soar.What makes CrowdStrike tick is the company's Falcon security platform. Falcon was built entirely in the cloud and is guided by artificial intelligence. These factors -- which help it to oversee about 1 trillion events daily -- allow Falcon to quickly assess and respond to potential threats. While CrowdStrike isn't the cheapest option in end-user security, its gross retention rate of 98% suggests it's one of the best and well worth the cost.CrowdStrike's operating results demonstrate that it's had no issue attracting new customers. Over the past five years, CrowdStrike's subscribing customer count has averaged annual growth of 105% (450 to 16,325).But what's far more impressive is how successful it's been at getting existing clients to spend more. Over the past 16 quarters (four full years), CrowdStrike's dollar-based retention rates haven't dipped below 120%. Put another way, each year's existing customers are spending at least 20% more in the following year. Moreover, the percentage of clients that purchase four or more cloud-module subscriptions has grown from 9% to 69% in five years.CrowdStrike has all the attributes of a company that can continue to blow Wall Street's loftiest expectations out of the water.Image source: Getty Images.NovavaxA second jaw-dropping growth stock you'll regret not picking up on the dip is biotech stock Novavax. If you think CrowdStrike has had it rough, shares of Novavax are lower by nearly 80% relative to their 52-week high.The big concern Wall Street has with Novavax is the delayed rollout of its COVID-19 vaccine, NVX-CoV2373.Last year, Novavax completed two large-scale studies involving its vaccine, which demonstrated respective efficacy of 89.7% (U.K. study) and 90.4% (U.S. and Mexico trial). It also reported an 80% vaccine efficacy in teens earlier this year. NVX-CoV2373 is one of only three COVID-19 vaccines to hit the 90% efficacy threshold in any late-stage study. That would, presumably, give it a good shot at becoming a key player in initial inoculations and booster shots.However, Novavax delayed its emergency-use authorization (EUA) filings until the latter part of 2021 in many developed markets, and has somewhat struggled to ramp up production to meet orders. These short-term concerns have weighed heavily on its share price.The good news is that Novavax fully expects $4 billion to $5 billion in sales this year. This suggests it'll have no trouble meeting its vaccine production obligations. Even with some developed countries returning to some semblance of normal, the global pandemic is still ongoing, and mutations of the SARS-CoV-2 virus give NVX-CoV2373 plenty of runway as a booster option.What's more, a U.S. Food and Drug Administration's advisory committee plans to review Novavax's vaccine on June 7, 2022, which could lead to a possible EUA. Even though most Americans who wanted a COVID-19 vaccine have received one, Novavax can still play a key role in adult booster shots and perhaps initial inoculations for teens.The company also has an opportunity to become a leader in combination vaccines, such as those aimed at both influenza and COVID-19. Whereas Novavax trailed other drugmakers to market with its COVID-19 vaccine, it could be one of the first to market with a combination vaccine.Novavax can be purchased for less than 3 times Wall Street's forecast earnings for 2022, and is sitting on roughly $1 billion in net cash. It's one heck of a bargain.Image source: Getty Images.PayPal HoldingsA third and final jaw-dropping growth stock you'll regret not buying on the dip is fintech giant PayPal Holdings. Shares of PayPal have collapsed 71% in less than 10 months.PayPal's issues tend to mirror those I described with CrowdStrike. The difference is that PayPal is cyclical and not a basic-necessity business, and could therefore feel the pinch of higher inflation and reduced spending -- especially among lower-income consumers. Historically high inflation and an uncertain economic outlook have coerced PayPal to lower its earnings forecast three times over the past year.Yet even with these near-term negatives, many of PayPal's key performance indicators are moving in the right direction. Although net new account (NNA) growth slowed, the company still increased its NNAs by 2.4 million in the first quarter. Keep in mind that first-quarter U.S. gross domestic product came in at negative 1.4%, but PayPal still grew its digital user base.Total payment volume is also slated to increase by a double-digit percentage at a time when consumers are taking it on the chin. Even PayPal's reduced forecast calls for more than $1.4 trillion in TPV in 2022, with aggregate growth of 11% to 13% over 2021. If that's a bad year for PayPal, I can't wait to see what happens when economic activity normalizes in a couple of quarters.Perhaps most exciting is the fact that PayPal's active counts are relying on digital payments to a greater degree with each passing quarter. In 2020, active users averaged 40.9 transactions on a trailing-12-month (TTM) basis. But in the most recently ended quarter, PayPal noted 47 transactions per active user on a TTM basis. This statistic above all others suggests that PayPal is on the right track, and that this latest pullback in its shares is a monster opportunity to buy.Keeping in mind that Wall Street's earnings forecast for the company remains fluid, shares can be gobbled up right now for 18 times forward-year earnings. Simply put, this fintech juggernaut has never been cheaper.","news_type":1},"isVote":1,"tweetType":1,"viewCount":137,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9062501820,"gmtCreate":1652072421160,"gmtModify":1676535024668,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9062501820","repostId":"2233326561","repostType":4,"isVote":1,"tweetType":1,"viewCount":184,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9066401378,"gmtCreate":1651936036894,"gmtModify":1676535000054,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9066401378","repostId":"2233352789","repostType":4,"repost":{"id":"2233352789","pubTimestamp":1651894148,"share":"https://www.laohu8.com/m/news/2233352789?lang=&edition=full","pubTime":"2022-05-07 11:29","market":"us","language":"en","title":"Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought","url":"https://stock-news.laohu8.com/highlight/detail?id=2233352789","media":"Motley Fool","summary":"There are always stocks to buy when you're ARK Invest's ace stock picker.","content":"<html><head></head><body><p>Cathie Wood isn&#39;t afraid to go fishing in the rain. The CEO and co-founder of ARK Invest was buying stocks on Thursday during the market deluge. She&#39;s had a rough run since a highly rewarding 2020 for her family of exchange-traded funds (<a href=\"https://laohu8.com/S/PSFF\">Pacer Swan SOS Fund of Funds ETF|ETF</a>s). You have to respect someone that&#39;s still looking to buy falling growth stocks when the market is at its worst.</p><p>What was she buying this time? Wood added to her existing stakes in <b>Shopify</b>, <b>Roku</b>, and <b>Sea Limited</b> on Thursday. Let&#39;s see what she may be seeing in these former market darlings that have fallen on hard times.</p><h2>Shopify</h2><p>Announcing a stock split doesn&#39;t guarantee that a stock will pop. Shares of Shopify plummeted 37% last month, despite announcing plans for a 10-for-1 split. Like many high-profile growth stocks, shares of the popular e-commerce platform provider have had a rough run in the market.</p><p>April was bad, and May isn&#39;t shaping up to be any better. The stock plummeted 15% on Thursday after a disappointing financial report. Revenue decelerated through the first three months of this year, clocking in with a mere 22% year-over-year advance. Rising costs obliterated the bottom line; earnings came in 71% below what analysts were targeting.</p><p>The tailwinds that helped Shopify deliver jaw-dropping growth until recently weren&#39;t going to last forever. However, this week&#39;s surprising shortfall on both ends of the income statement is both problematic and opportunistic. The financial update wasn&#39;t encouraging, but the stock now finds itself 77% below where it was at its November peak. The forward-thinking e-commerce solution that lets merchants of all sizes easily sell their wares across emerging social media platforms and their own digital storefront hasn&#39;t lost its relevancy. Shopify should recover from this setback.</p><h2>Roku</h2><p>Another company that has shed nearly 80% of its peak value but is still growing is Roku. The pioneer of video streaming on TV is a leading in an expanding niche. There were 61.3 million homes leaning on Roku by the end of March, and these are <i>active</i> accounts in every sense of the term. The average account is streaming nearly 3.8 hours a day on the platform.</p><p>We&#39;ve seen Roku&#39;s audience and total hours streamed grow 14% over the past year, silencing bearish arguments that folks will turn off their TVs and enjoy the great outdoors as the COVID-19 landscape improves following the vaccinations introduced last year. Advertisers also know that Roku consumers are worth reaching. Average revenue per user is up 34% over the past year.</p><p>Supply chain issues have slowed the production of its dongles, but Roku has enough deals in place with smart TV manufacturers to be the factory installed operating system of choice for many leading brands. After breaking through with a profit last year, analysts don&#39;t see a return to positive net income until 2024. It&#39;s not an ideal situation, but as long as Roku&#39;s audience keeps growing -- and those cradling the Roku remote controls keep watching -- the stock should eventually get back on track.</p><h2>Sea Limited</h2><p>Some companies are lucky to dominate <a href=\"https://laohu8.com/S/AONE.U\">one</a> niche, but Sea Limited is a giant in three important industries. The Singapore-based speedster is a major player in e-commerce, online gaming, and fintech.</p><p>It&#39;s not firing on all cylinders right now. It sees direct entertainment bookings -- basically its gaming arm -- declining sharply this year. It&#39;s been a challenging year for the online gaming market, particularly in Asia. However, its now larger e-commerce segment is expected to see its revenue soar 76%. Its smaller fintech division is expected to see its top line climb 155% this year.</p><p>Growth will slow at Sea Limited this year from the 106% year-over-year burst it posted the last time it reported quarterly results. Sea Limited will have a financial update in two weeks. Analysts see revenue growth slowing to a 37% clip this year and a 35% pace in 2023, but that&#39;s still respectable for a company of Sea Limited&#39;s size.</p><p>Shopify, Roku, and Sea Limited have all seen their shares fall by at least 77% since peaking last year. Yet they continue to be strong growth stocks, delivering healthy year-over-year growth right now. Cathie Wood may be on to something here.</p></body></html>","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>Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought</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\">\nCathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-07 11:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/05/06/cathie-wood-goes-bargain-hunting-3-stocks-she-just/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cathie Wood isn't afraid to go fishing in the rain. The CEO and co-founder of ARK Invest was buying stocks on Thursday during the market deluge. She's had a rough run since a highly rewarding 2020 for...</p>\n\n<a href=\"https://www.fool.com/investing/2022/05/06/cathie-wood-goes-bargain-hunting-3-stocks-she-just/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc","SE":"Sea Ltd","SHOP":"Shopify Inc"},"source_url":"https://www.fool.com/investing/2022/05/06/cathie-wood-goes-bargain-hunting-3-stocks-she-just/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2233352789","content_text":"Cathie Wood isn't afraid to go fishing in the rain. The CEO and co-founder of ARK Invest was buying stocks on Thursday during the market deluge. She's had a rough run since a highly rewarding 2020 for her family of exchange-traded funds (Pacer Swan SOS Fund of Funds ETF|ETFs). You have to respect someone that's still looking to buy falling growth stocks when the market is at its worst.What was she buying this time? Wood added to her existing stakes in Shopify, Roku, and Sea Limited on Thursday. Let's see what she may be seeing in these former market darlings that have fallen on hard times.ShopifyAnnouncing a stock split doesn't guarantee that a stock will pop. Shares of Shopify plummeted 37% last month, despite announcing plans for a 10-for-1 split. Like many high-profile growth stocks, shares of the popular e-commerce platform provider have had a rough run in the market.April was bad, and May isn't shaping up to be any better. The stock plummeted 15% on Thursday after a disappointing financial report. Revenue decelerated through the first three months of this year, clocking in with a mere 22% year-over-year advance. Rising costs obliterated the bottom line; earnings came in 71% below what analysts were targeting.The tailwinds that helped Shopify deliver jaw-dropping growth until recently weren't going to last forever. However, this week's surprising shortfall on both ends of the income statement is both problematic and opportunistic. The financial update wasn't encouraging, but the stock now finds itself 77% below where it was at its November peak. The forward-thinking e-commerce solution that lets merchants of all sizes easily sell their wares across emerging social media platforms and their own digital storefront hasn't lost its relevancy. Shopify should recover from this setback.RokuAnother company that has shed nearly 80% of its peak value but is still growing is Roku. The pioneer of video streaming on TV is a leading in an expanding niche. There were 61.3 million homes leaning on Roku by the end of March, and these are active accounts in every sense of the term. The average account is streaming nearly 3.8 hours a day on the platform.We've seen Roku's audience and total hours streamed grow 14% over the past year, silencing bearish arguments that folks will turn off their TVs and enjoy the great outdoors as the COVID-19 landscape improves following the vaccinations introduced last year. Advertisers also know that Roku consumers are worth reaching. Average revenue per user is up 34% over the past year.Supply chain issues have slowed the production of its dongles, but Roku has enough deals in place with smart TV manufacturers to be the factory installed operating system of choice for many leading brands. After breaking through with a profit last year, analysts don't see a return to positive net income until 2024. It's not an ideal situation, but as long as Roku's audience keeps growing -- and those cradling the Roku remote controls keep watching -- the stock should eventually get back on track.Sea LimitedSome companies are lucky to dominate one niche, but Sea Limited is a giant in three important industries. The Singapore-based speedster is a major player in e-commerce, online gaming, and fintech.It's not firing on all cylinders right now. It sees direct entertainment bookings -- basically its gaming arm -- declining sharply this year. It's been a challenging year for the online gaming market, particularly in Asia. However, its now larger e-commerce segment is expected to see its revenue soar 76%. Its smaller fintech division is expected to see its top line climb 155% this year.Growth will slow at Sea Limited this year from the 106% year-over-year burst it posted the last time it reported quarterly results. Sea Limited will have a financial update in two weeks. Analysts see revenue growth slowing to a 37% clip this year and a 35% pace in 2023, but that's still respectable for a company of Sea Limited's size.Shopify, Roku, and Sea Limited have all seen their shares fall by at least 77% since peaking last year. Yet they continue to be strong growth stocks, delivering healthy year-over-year growth right now. Cathie Wood may be on to something here.","news_type":1},"isVote":1,"tweetType":1,"viewCount":195,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9066902675,"gmtCreate":1651831455397,"gmtModify":1676534979998,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9066902675","repostId":"1170967278","repostType":4,"isVote":1,"tweetType":1,"viewCount":101,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9066902349,"gmtCreate":1651831425681,"gmtModify":1676534979990,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9066902349","repostId":"1170967278","repostType":4,"repost":{"id":"1170967278","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1651828761,"share":"https://www.laohu8.com/m/news/1170967278?lang=&edition=full","pubTime":"2022-05-06 17:19","market":"us","language":"en","title":"U.S. Stocks To Watch: Block, Under Armour, Cigna and More","url":"https://stock-news.laohu8.com/highlight/detail?id=1170967278","media":"Benzinga","summary":"Some of the stocks that may grab investor focus today are:Wall Street expects Cigna Corporation to r","content":"<html><head></head><body><p>Some of the stocks that may grab investor focus today are:</p><ul><li>Wall Street expects <a href=\"https://laohu8.com/S/CI\">Cigna Corporation</a> to report quarterly earnings at $5.18 per share on revenue of $43.41 billion before the opening bell. Cigna shares rose 0.4% to $253.00 in after-hours trading.</li><li><a href=\"https://laohu8.com/S/DBX\">Dropbox, Inc.</a> reported upbeat results for its first quarter. Dropbox shares gained 2.1% to $21.75 in the after-hours trading session.</li><li>Analysts are expecting <a href=\"https://laohu8.com/S/GT\">The Goodyear Tire &amp; Rubber Company</a> to have earned $0.21 per share on revenue of $4.65 billion for the latest quarter. The company will release earnings before the markets open. Goodyear Tire shares slipped 0.2% to $13.58 in after-hours trading.</li></ul><ul><li><a href=\"https://laohu8.com/S/SQ\">Block, Inc.</a> reported weaker-than-expected earnings and sales results for its first quarter. Bitcoin revenue was $1.73 billion, down 50.1% year over year. Block shares, however, jumped 8.4% to $103.61 in the after-hours trading session.</li><li>Analysts expect <a href=\"https://laohu8.com/S/UAA\">Under Armour, Inc.</a> to post quarterly earnings at $0.06 per share on revenue of $1.32 billion before the opening bell. Under Armour shares dropped 0.6% to $14.20 in after-hours trading.</li></ul></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>U.S. Stocks To Watch: Block, Under Armour, Cigna and More</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\">\nU.S. Stocks To Watch: Block, Under Armour, Cigna and More\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2022-05-06 17:19</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Some of the stocks that may grab investor focus today are:</p><ul><li>Wall Street expects <a href=\"https://laohu8.com/S/CI\">Cigna Corporation</a> to report quarterly earnings at $5.18 per share on revenue of $43.41 billion before the opening bell. Cigna shares rose 0.4% to $253.00 in after-hours trading.</li><li><a href=\"https://laohu8.com/S/DBX\">Dropbox, Inc.</a> reported upbeat results for its first quarter. Dropbox shares gained 2.1% to $21.75 in the after-hours trading session.</li><li>Analysts are expecting <a href=\"https://laohu8.com/S/GT\">The Goodyear Tire &amp; Rubber Company</a> to have earned $0.21 per share on revenue of $4.65 billion for the latest quarter. The company will release earnings before the markets open. Goodyear Tire shares slipped 0.2% to $13.58 in after-hours trading.</li></ul><ul><li><a href=\"https://laohu8.com/S/SQ\">Block, Inc.</a> reported weaker-than-expected earnings and sales results for its first quarter. Bitcoin revenue was $1.73 billion, down 50.1% year over year. Block shares, however, jumped 8.4% to $103.61 in the after-hours trading session.</li><li>Analysts expect <a href=\"https://laohu8.com/S/UAA\">Under Armour, Inc.</a> to post quarterly earnings at $0.06 per share on revenue of $1.32 billion before the opening bell. Under Armour shares dropped 0.6% to $14.20 in after-hours trading.</li></ul></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GT":"固特异轮胎橡胶公司","UAA":"安德玛公司A类股","DBX":"Dropbox Inc.","CI":"信诺保险","SQ":"Block"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170967278","content_text":"Some of the stocks that may grab investor focus today are:Wall Street expects Cigna Corporation to report quarterly earnings at $5.18 per share on revenue of $43.41 billion before the opening bell. Cigna shares rose 0.4% to $253.00 in after-hours trading.Dropbox, Inc. reported upbeat results for its first quarter. Dropbox shares gained 2.1% to $21.75 in the after-hours trading session.Analysts are expecting The Goodyear Tire & Rubber Company to have earned $0.21 per share on revenue of $4.65 billion for the latest quarter. The company will release earnings before the markets open. Goodyear Tire shares slipped 0.2% to $13.58 in after-hours trading.Block, Inc. reported weaker-than-expected earnings and sales results for its first quarter. Bitcoin revenue was $1.73 billion, down 50.1% year over year. Block shares, however, jumped 8.4% to $103.61 in the after-hours trading session.Analysts expect Under Armour, Inc. to post quarterly earnings at $0.06 per share on revenue of $1.32 billion before the opening bell. Under Armour shares dropped 0.6% to $14.20 in after-hours trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9063463542,"gmtCreate":1651508595958,"gmtModify":1676534918324,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9063463542","repostId":"1162789970","repostType":4,"repost":{"id":"1162789970","pubTimestamp":1651503578,"share":"https://www.laohu8.com/m/news/1162789970?lang=&edition=full","pubTime":"2022-05-02 22:59","market":"us","language":"en","title":"An Incredible Stock Market Money-Making Opportunity Is Fast Approaching","url":"https://stock-news.laohu8.com/highlight/detail?id=1162789970","media":"investorplace","summary":"Absolutely.The Ultra-Rare Stock Market PhenomenonOver the past several months, my team and I have studied the intricacies of stock market crashes throughout modern history. And we discovered something amazing.Specifically, we’ve discovered an ultra-rare stock market phenomenon that occurs about once every 10 years. And it consistently provides the best buying opportunities in the history of the U.S. stock market.Moreover, we’ve figured out how to quantitatively identify this anomaly. Better yet,","content":"<html><head></head><body><p>It’s been a<i>wild</i>year for stocks, huh? There’s a lot of fear swirling in the stock market, not least of which is a looming recession. But what if I told you all this volatility is creatingthe money-making opportunity of the century?</p><p><img src=\"https://static.tigerbbs.com/77e330a44fc7c5ce2d8e0a9a29e1c767\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/>Source: Zakharchuk / Shutterstock</p><p>You’d look at me funny, quite skeptical. And that’s fine. Just don’t disregard it — because I have ton of data to prove that claim. Today we’re on the cusp of the biggest investment opportunity in the stock market…<i>ever</i>.</p><p>Yes, I’m aware of all the problems the world is facing today. There’s decades-high inflation and a U.S. Federal Reserve that’s embarking on the most aggressive tightening path since the 1970s. A war in Europe has begun for the first time since World War II. The highest gas and grocery prices are hitting us square in the wallet. There are more Covid-19 lockdowns in China, and the stock market’s had its worst start to a year since 1942.</p><p>Talk about unusual. Talk about volatility. It’s downright scary.</p><p>Against that backdrop, I wouldn’t blame you for wanting to run for the hills and take cover from the storm. But the great Warren Buffett once said that it’s oftenn <b>best to be greedy when others are fearful</b>.</p><p>And everyone’s fearful right now. The percentage of bullish individual U.S. investors sits at 16.4% today. That’s its lowest reading since 1992. It means investors are less bullish today than during the Covid-19 pandemic, financial crisis of 2008 and the dot-com crash. Let that sink in for a moment.</p><p><img src=\"https://static.tigerbbs.com/89e8273ca24e000756e14058c9d4389e\" tg-width=\"624\" tg-height=\"391\" referrerpolicy=\"no-referrer\"/></p><p>There’s nothing but fear out there. And Buffett would tell us to get greedy here. Should we heed those words of advice?</p><p><b>Absolutely</b>.</p><h2>The Ultra-Rare Stock Market Phenomenon</h2><p>Over the past several months, my team and I have studied the intricacies of stock market crashes throughout modern history. And we discovered something amazing.</p><p>Specifically, we’ve discovered an ultra-rare stock market phenomenon that occurs about once every 10 years. And it consistently provides the best buying opportunities in the history of the U.S. stock market.</p><p>Moreover, we’ve figured out how to quantitatively identify this anomaly. Better yet, we’ve engineered a way to best take advantage of it to rake in massive profits.</p><p>Well, folks, guess what’s happening right now?</p><p><b>This ultra-rare market phenomenon is emerging right now.</b>And our models are flashing bright “buy” signals as the window of opportunity to capitalize on it is rapidly approaching.</p><p>I know. That may sound counterintuitive, given what’s going in the markets right now.</p><p>But I’m staking my career on this claim — because it’s not an opinion. It’s a fact backed by data, history, statistics and mathematics. It’s backed by the biggest market phenomenon in history.</p><p>So, I repeat:<u>We stand on the cusp of an opportunity of a lifetime</u>.</p><p>By now, you’re probably thinking,<i>OK, Luke, you have my attention. But where’s this proof?</i></p><p>I’m glad you asked because I have lots of that. Let’s take a deep look.</p><h2>Stock Prices Follow Fundamentals</h2><p>To understand the unique occurrence my team and I have identified, we need to first recognize stocks’ behavior pattern.</p><p>In the short-term, stocks are driven by a myriad of factors, like geopolitics, interest rates, inflation, elections, recession fears. The list goes on.</p><p>However, in the long-term, stocks are driven by one thing and one thing only: <b>fundamentals</b>.</p><p>At the end of the day, revenues and earnings drive stock prices. If those fundamentals trend upward over time, then a company’s stock price will follow suit and rise. Conversely, if revenues and earnings trend downward, then the stock price will drop.</p><p>That may sound like an oversimplification. But, honestly, it’s not.</p><p>Just look at the following chart. It graphs the earnings per share of the <b>S&amp;P 500</b>(blue) alongside the stock price (orange) from 1988 to 2022.</p><p><img src=\"https://static.tigerbbs.com/2764df0b2dda9b90a3acb18f4a2e1a33\" tg-width=\"1024\" tg-height=\"611\" referrerpolicy=\"no-referrer\"/></p><p>As you can see, the blue line (earnings per share) lines up almost perfectly with the orange (price). The two could not be more strongly correlated. Indeed, the mathematical correlation between them is <b>0.93</b>. That’s incredibly strong. A perfect correlation is one. And a perfect anti-correlation is negative one.</p><p>Therefore, <b>the correlation between earnings and stock prices is about as perfectly correlated as anything gets in the real world</b>.</p><p>In other words, you can forget the Fed. You can forget inflation. You can forget geopolitics, trade wars, recessions, depressions and financial crises.</p><p>We’ve seen all that over the past 35 years. And through it all, the correlation between earnings and stock prices never broke or even faltered at all.</p><p>At the end of the day, earnings drive stock prices. History is clear on that. In fact, mathematically speaking, history is as clear on that as it is on anything.</p><h2>Great Divergences Create Great Opportunities</h2><p>The phenomenon my team and I have identified has to do with this correlation. In fact, it has to do with a “break” in this correlation.</p><p>Every once in a while — about once a decade — a rare anomaly emerges in the stock market there earnings and revenues temporarily<i>stop</i>driving stock prices.</p><p>We call this a “divergence.”</p><p>During these occurrences, companies see revenues and earnings rise, yet stock prices temporarily collapse due to macroeconomic fears. The result is that a company’s stock price diverges from its fundamental growth trend.</p><p>Every time these rare divergences emerge, they turn into generational buying opportunities wherein stock prices snap back to fundamental growth trends.</p><p>This has happened time and again throughout the history of the markets.</p><p>It happened in the <b>late 1980s</b>during the Savings and Loan crisis. High-quality growth companies like <b>Microsoft</b>(<b><u>MSFT</u></b>) saw stock prices collapse while revenues and earnings kept rising. Investors who capitalized on this divergence doubled their money in a year. And on average, they scored a jaw-dropping ~40,000% returns in the long run.</p><p><img src=\"https://static.tigerbbs.com/ed939f9572e720344767acb3fd52ecc0\" tg-width=\"624\" tg-height=\"351\" referrerpolicy=\"no-referrer\"/></p><p>It happened again in the <b>early 2000s</b> after the dot-com crash. High-quality growth companies like <b>Amazon</b>(<b><u>AMZN</u></b>) saw stock prices plunge in the crash. But revenues and earnings kept rising. Investors who capitalized on this divergence more than doubled their money in a year. And they scored more than 20,000% returns in the long term.</p><p>And it happened during the financial crisis of <b>2008</b>. High-quality growth companies like <b>Salesforce</b>(<b><u>CRM</u></b>) saw stock prices collapse, while revenues and earnings kept rising. Investors who capitalized on this divergence almost tripled their money in year and hit 10X returns in just five years.</p><p>This is the most profitable repeating pattern in stock market history. And it’s happening again now for the first time in 14 years.</p><p>Volatility Creates Opportunity</p><p>Market volatility always creates market opportunity.</p><p>So, over the past six months of the market’s wild gyrations, we’ve made it our priority to research this volatility. We sought to develop a stock-picking strategy to make tons of money in unpredictable markets.</p><p>That led us to making the biggest discovery in<i>InvestorPlace</i>history: <b>the existence of rare divergence windows</b>.</p><p>These windows only appear about once a decade amid peak market volatility. They open for very brief moments in time — and only in certain stocks. But if you capitalize on them by buying the right stocks at the right moment, you can make huge gains. And you can do that while everyone else is struggling to survive in a choppy market.</p><p>Indeed, these divergence windows give you a real shot at turning $10,000 investments into multi-million-dollar paydays.</p><p>The more we researched these divergences, the more excited we became.</p><p>And then we made the biggest discovery of them all:A brand-new divergence is forming<i>right now</i>.</p><p>Final Word on the Greatest Stock Market Phenomenon</p><p>Our models indicate this is the biggest divergence ever. That means the potential profits to be made from it are going to be the biggest ever, too.</p><p><b>But timing is of the essence here.</b></p><p>The huge multi-thousand-percent gains made during previous divergences were only possible if you bought the<i>right</i>stocks at exactly the<i>right</i>time.</p><p>And it’s just not exactly the right time yet…</p><p>But our models are indicating that it could be any moment now. In fact, as I write this, our models are moving ever closer to flashing the perfect “buy” signal.</p><p>So, to keep you updated, we’ve started a <b><u>Divergence 2022 Watch list</u></b>.</p><p>We highly suggest you sign up for it today. After you do, I’ll send youall the information I have on these divergences. I’ll show you all the charts and the data. I’ll very clearly illustrate the opportunity here.</p><p>Most importantly, you’ll be put on a VIP list. And as soon as our models tell us the divergence window has opened, you’ll be the first to hear!</p><p>Again, that could happen any day now. And when it does, you’ll be presented with the rarest opportunity to score huge returns in stock market history.</p><p>This is the most excited I’ve ever been in my career. We’re days away from being presented the financial opportunity of a lifetime.</p><p>Get in on this incoming wave of wealth, and I’ll ensure you don’t miss it.</p></body></html>","source":"lsy1606302653667","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>An Incredible Stock Market Money-Making Opportunity Is Fast Approaching</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\">\nAn Incredible Stock Market Money-Making Opportunity Is Fast Approaching\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-02 22:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/hypergrowthinvesting/2022/04/an-incredible-stock-market-money-making-opportunity-is-fast-approaching/><strong>investorplace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s been awildyear for stocks, huh? There’s a lot of fear swirling in the stock market, not least of which is a looming recession. But what if I told you all this volatility is creatingthe money-...</p>\n\n<a href=\"https://investorplace.com/hypergrowthinvesting/2022/04/an-incredible-stock-market-money-making-opportunity-is-fast-approaching/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://investorplace.com/hypergrowthinvesting/2022/04/an-incredible-stock-market-money-making-opportunity-is-fast-approaching/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162789970","content_text":"It’s been awildyear for stocks, huh? There’s a lot of fear swirling in the stock market, not least of which is a looming recession. But what if I told you all this volatility is creatingthe money-making opportunity of the century?Source: Zakharchuk / ShutterstockYou’d look at me funny, quite skeptical. And that’s fine. Just don’t disregard it — because I have ton of data to prove that claim. Today we’re on the cusp of the biggest investment opportunity in the stock market…ever.Yes, I’m aware of all the problems the world is facing today. There’s decades-high inflation and a U.S. Federal Reserve that’s embarking on the most aggressive tightening path since the 1970s. A war in Europe has begun for the first time since World War II. The highest gas and grocery prices are hitting us square in the wallet. There are more Covid-19 lockdowns in China, and the stock market’s had its worst start to a year since 1942.Talk about unusual. Talk about volatility. It’s downright scary.Against that backdrop, I wouldn’t blame you for wanting to run for the hills and take cover from the storm. But the great Warren Buffett once said that it’s oftenn best to be greedy when others are fearful.And everyone’s fearful right now. The percentage of bullish individual U.S. investors sits at 16.4% today. That’s its lowest reading since 1992. It means investors are less bullish today than during the Covid-19 pandemic, financial crisis of 2008 and the dot-com crash. Let that sink in for a moment.There’s nothing but fear out there. And Buffett would tell us to get greedy here. Should we heed those words of advice?Absolutely.The Ultra-Rare Stock Market PhenomenonOver the past several months, my team and I have studied the intricacies of stock market crashes throughout modern history. And we discovered something amazing.Specifically, we’ve discovered an ultra-rare stock market phenomenon that occurs about once every 10 years. And it consistently provides the best buying opportunities in the history of the U.S. stock market.Moreover, we’ve figured out how to quantitatively identify this anomaly. Better yet, we’ve engineered a way to best take advantage of it to rake in massive profits.Well, folks, guess what’s happening right now?This ultra-rare market phenomenon is emerging right now.And our models are flashing bright “buy” signals as the window of opportunity to capitalize on it is rapidly approaching.I know. That may sound counterintuitive, given what’s going in the markets right now.But I’m staking my career on this claim — because it’s not an opinion. It’s a fact backed by data, history, statistics and mathematics. It’s backed by the biggest market phenomenon in history.So, I repeat:We stand on the cusp of an opportunity of a lifetime.By now, you’re probably thinking,OK, Luke, you have my attention. But where’s this proof?I’m glad you asked because I have lots of that. Let’s take a deep look.Stock Prices Follow FundamentalsTo understand the unique occurrence my team and I have identified, we need to first recognize stocks’ behavior pattern.In the short-term, stocks are driven by a myriad of factors, like geopolitics, interest rates, inflation, elections, recession fears. The list goes on.However, in the long-term, stocks are driven by one thing and one thing only: fundamentals.At the end of the day, revenues and earnings drive stock prices. If those fundamentals trend upward over time, then a company’s stock price will follow suit and rise. Conversely, if revenues and earnings trend downward, then the stock price will drop.That may sound like an oversimplification. But, honestly, it’s not.Just look at the following chart. It graphs the earnings per share of the S&P 500(blue) alongside the stock price (orange) from 1988 to 2022.As you can see, the blue line (earnings per share) lines up almost perfectly with the orange (price). The two could not be more strongly correlated. Indeed, the mathematical correlation between them is 0.93. That’s incredibly strong. A perfect correlation is one. And a perfect anti-correlation is negative one.Therefore, the correlation between earnings and stock prices is about as perfectly correlated as anything gets in the real world.In other words, you can forget the Fed. You can forget inflation. You can forget geopolitics, trade wars, recessions, depressions and financial crises.We’ve seen all that over the past 35 years. And through it all, the correlation between earnings and stock prices never broke or even faltered at all.At the end of the day, earnings drive stock prices. History is clear on that. In fact, mathematically speaking, history is as clear on that as it is on anything.Great Divergences Create Great OpportunitiesThe phenomenon my team and I have identified has to do with this correlation. In fact, it has to do with a “break” in this correlation.Every once in a while — about once a decade — a rare anomaly emerges in the stock market there earnings and revenues temporarilystopdriving stock prices.We call this a “divergence.”During these occurrences, companies see revenues and earnings rise, yet stock prices temporarily collapse due to macroeconomic fears. The result is that a company’s stock price diverges from its fundamental growth trend.Every time these rare divergences emerge, they turn into generational buying opportunities wherein stock prices snap back to fundamental growth trends.This has happened time and again throughout the history of the markets.It happened in the late 1980sduring the Savings and Loan crisis. High-quality growth companies like Microsoft(MSFT) saw stock prices collapse while revenues and earnings kept rising. Investors who capitalized on this divergence doubled their money in a year. And on average, they scored a jaw-dropping ~40,000% returns in the long run.It happened again in the early 2000s after the dot-com crash. High-quality growth companies like Amazon(AMZN) saw stock prices plunge in the crash. But revenues and earnings kept rising. Investors who capitalized on this divergence more than doubled their money in a year. And they scored more than 20,000% returns in the long term.And it happened during the financial crisis of 2008. High-quality growth companies like Salesforce(CRM) saw stock prices collapse, while revenues and earnings kept rising. Investors who capitalized on this divergence almost tripled their money in year and hit 10X returns in just five years.This is the most profitable repeating pattern in stock market history. And it’s happening again now for the first time in 14 years.Volatility Creates OpportunityMarket volatility always creates market opportunity.So, over the past six months of the market’s wild gyrations, we’ve made it our priority to research this volatility. We sought to develop a stock-picking strategy to make tons of money in unpredictable markets.That led us to making the biggest discovery inInvestorPlacehistory: the existence of rare divergence windows.These windows only appear about once a decade amid peak market volatility. They open for very brief moments in time — and only in certain stocks. But if you capitalize on them by buying the right stocks at the right moment, you can make huge gains. And you can do that while everyone else is struggling to survive in a choppy market.Indeed, these divergence windows give you a real shot at turning $10,000 investments into multi-million-dollar paydays.The more we researched these divergences, the more excited we became.And then we made the biggest discovery of them all:A brand-new divergence is formingright now.Final Word on the Greatest Stock Market PhenomenonOur models indicate this is the biggest divergence ever. That means the potential profits to be made from it are going to be the biggest ever, too.But timing is of the essence here.The huge multi-thousand-percent gains made during previous divergences were only possible if you bought therightstocks at exactly therighttime.And it’s just not exactly the right time yet…But our models are indicating that it could be any moment now. In fact, as I write this, our models are moving ever closer to flashing the perfect “buy” signal.So, to keep you updated, we’ve started a Divergence 2022 Watch list.We highly suggest you sign up for it today. After you do, I’ll send youall the information I have on these divergences. I’ll show you all the charts and the data. I’ll very clearly illustrate the opportunity here.Most importantly, you’ll be put on a VIP list. And as soon as our models tell us the divergence window has opened, you’ll be the first to hear!Again, that could happen any day now. And when it does, you’ll be presented with the rarest opportunity to score huge returns in stock market history.This is the most excited I’ve ever been in my career. We’re days away from being presented the financial opportunity of a lifetime.Get in on this incoming wave of wealth, and I’ll ensure you don’t miss it.","news_type":1},"isVote":1,"tweetType":1,"viewCount":177,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9069248187,"gmtCreate":1651299232860,"gmtModify":1676534887315,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9069248187","repostId":"2231269104","repostType":4,"isVote":1,"tweetType":1,"viewCount":298,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9087730280,"gmtCreate":1651051789958,"gmtModify":1676534841005,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9087730280","repostId":"1140483126","repostType":4,"isVote":1,"tweetType":1,"viewCount":297,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9087371218,"gmtCreate":1650964467843,"gmtModify":1676534823983,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9087371218","repostId":"2230178950","repostType":4,"isVote":1,"tweetType":1,"viewCount":76,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9084918107,"gmtCreate":1650791195546,"gmtModify":1676534793897,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084918107","repostId":"2229599011","repostType":4,"repost":{"id":"2229599011","pubTimestamp":1650691800,"share":"https://www.laohu8.com/m/news/2229599011?lang=&edition=full","pubTime":"2022-04-23 13:30","market":"us","language":"en","title":"Will Nvidia Be a Trillion-Dollar Stock by 2025?","url":"https://stock-news.laohu8.com/highlight/detail?id=2229599011","media":"Motley Fool","summary":"The chipmaker nearly joined the twelve-zero club last year, but it could be awhile before it gets back there.","content":"<html><head></head><body><p><b>Nvidia</b>&#39;s stock closed at an all-time high of $333.76 on Nov. 29, 2021, which gave the chipmaker a market cap of $834 billion. At the time, Nvidia seemed destined to become a trillion-dollar company.</p><p>But after hitting its all-time high, Nvidia&#39;s stock shed over a third of its value and its market cap dropped to less than $550 billion. The bulls fled amid concerns about a post-COVID-lockdown slowdown in PC sales, while rising interest rates exacerbated that pain by sparking a sell-off in higher-growth stocks.</p><p>Can Nvidia regain its momentum and finally join the twelve-zero club by 2025? Let&#39;s examine its upcoming catalysts and challenges to find out.</p><p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F675321%2Frtx-platform-diagram.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"393\" width=\"100%\" height=\"auto\"/><span>Image source: Nvidia.</span></p><h2>Nvidia could face a cyclical slowdown</h2><p>Nvidia&#39;s stock hit an all-time high last year as its gaming and data center GPU business generated dazzling growth throughout the pandemic.</p><p>In the 2022 fiscal year, which ended this January, Nvidia&#39;s revenue surged 61% to $26.91 billion as its adjusted earnings per share (EPS) grew 78%. Its adjusted operating margin jumped 640 basis points to 47.2%. It attributed most of that growth to its robust sales of gaming and data center GPUs.</p><p>But over the next three fiscal years, analysts expect Nvidia&#39;s revenue growth to decelerate as that upgrade cycle cools off. On the bright side, they expect its adjusted operating margin to consistently rise as it benefits from improved scale and pricing power in the GPU market.</p><table border=\"1\" width=\"598\"><colgroup></colgroup><tbody><tr valign=\"TOP\"><th width=\"239\"><p>Metric</p></th><th width=\"104\"><p>FY 2023 Estimate</p></th><th width=\"94\"><p>FY 2024 Estimate</p></th><th width=\"103\"><p>FY 2025 Estimate</p></th></tr><tr valign=\"TOP\"><td width=\"239\"><p><b>Revenue Growth</b></p></td><td width=\"104\"><p>29%</p></td><td width=\"94\"><p>17%</p></td><td width=\"103\"><p>12%</p></td></tr><tr valign=\"TOP\"><td width=\"239\"><p><b>Adjusted operating margin</b></p></td><td width=\"104\"><p>48.3%</p></td><td width=\"94\"><p>49.4%</p></td><td width=\"103\"><p>51%</p></td></tr><tr valign=\"TOP\"><td width=\"239\"><p><b>Adjusted EPS growth </b></p></td><td width=\"104\"><p>15%</p></td><td width=\"94\"><p>34%</p></td><td width=\"103\"><p>11%</p></td></tr></tbody></table><p>Data source: S&amp;P Global Market Intelligence.</p><p>If those expectations are met, Nvidia would generate $45.64 billion in revenue with an adjusted EPS of $6.59 in fiscal 2025.</p><p>Nvidia currently trades at 16 times its revenue and about 50 times its EPS estimate for fiscal 2023. If Nvidia still trades at those forward valuations at the end of fiscal 2024 and hits the estimates, it would have a market cap of about $730 billion.</p><p>However, those valuations would still be too rich for a company that&#39;s growing its revenue and earnings in the low teens. Therefore, I think Nvidia&#39;s market cap might stay between $500 billion and $700 billion over the next three years as it grapples with a cyclical slowdown in the GPU market.</p><h2>The near-term headwinds</h2><p>Investors should take analysts&#39; estimates with a grain of salt, but Nvidia stock likely needs to take a breather after its big growth spurt over the past few years.</p><p>In <b>HP</b>&#39;s (NYSE: HPQ) latest earnings report, it said its sales of consumer PCs fell 1% year-over-year as it faced tough comparisons to the boost it got from remote work and gaming upgrades during the pandemic. That slowdown doesn&#39;t bode well for Nvidia and other PC chipmakers.</p><p>Meanwhile, data center operators might buy fewer Nvidia GPUs for AI tasks as the usage of cloud-based services decelerates in a post-lockdown market. Waning interest in cryptocurrencies, many of which have lost value this year as investors have rotated out of riskier assets, will also curb sales of its gaming GPUs and dedicated mining chips.</p><p>To make matters worse, <b>Intel</b> (NASDAQ: INTC) plans to disrupt Nvidia and <b><a href=\"https://laohu8.com/S/AMD\">AMD</a></b>&#39;s (NASDAQ: AMD) duopoly in discrete GPUs with its own chips. These new GPUs, which Intel is bundling with its own CPUs, could cause more headaches for Nvidia and AMD as the broader gaming market slows down.</p><h2>The long-term tailwinds</h2><p>Those challenges seem daunting, but Nvidia has weathered plenty of cyclical downturns and competitive threats since its public debut in 1999. It also remains the dominant discrete GPU maker with an 81% market share, according to JPR&#39;s fourth-quarter numbers, compared to AMD&#39;s 19% share.</p><p>The gaming and data center markets should also keep expanding over the next few years. The gaming PC market could expand at a compound annual growth rate (CAGR) of 14.9% between 2021 and 2027, according to Report Ocean, while Research and Markets expects the data center accelerator market to grow at a CAGR of 36.7% between 2021 and 2026.</p><p>If Nvidia continues to dominate both of those growing markets, its cyclical slowdown could end a lot sooner than expected. Its oft-overlooked automotive chip business -- which generated just 2% of revenue in its latest quarter -- could also gain more traction as the automotive sector gradually recovers and develops new connected and autonomous vehicles.</p><h2>Look beyond Nvidia&#39;s market cap</h2><p>Nvidia probably won&#39;t become a trillion-dollar company by 2025, and investors who were spoiled by its 380% rally over the past three years might be a bit disappointed. However, it&#39;s arguably better for Nvidia&#39;s stock to cool off now and reset the market&#39;s expectations instead of flying off the rails with runaway valuations.</p><p>Nvidia&#39;s stock might generate much lower returns over the next three years, but investors shouldn&#39;t abandon the chipmaker yet. Long-term secular tailwinds could still propel its stock to new all-time highs.</p></body></html>","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>Will Nvidia Be a Trillion-Dollar Stock 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\">\nWill Nvidia Be a Trillion-Dollar Stock by 2025?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-23 13:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/04/22/will-nvidia-be-a-trillion-dollar-stock-by-2025/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nvidia's stock closed at an all-time high of $333.76 on Nov. 29, 2021, which gave the chipmaker a market cap of $834 billion. At the time, Nvidia seemed destined to become a trillion-dollar company....</p>\n\n<a href=\"https://www.fool.com/investing/2022/04/22/will-nvidia-be-a-trillion-dollar-stock-by-2025/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4549":"软银资本持仓","BK4503":"景林资产持仓","NVDA":"英伟达","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4548":"巴美列捷福持仓","BK4551":"寇图资本持仓","BK4579":"人工智能","BK4141":"半导体产品","BK4543":"AI","BK4567":"ESG概念","BK4550":"红杉资本持仓","BK4527":"明星科技股","BK4534":"瑞士信贷持仓","BK4529":"IDC概念","BK4581":"高盛持仓","BK4533":"AQR资本管理(全球第二大对冲基金)"},"source_url":"https://www.fool.com/investing/2022/04/22/will-nvidia-be-a-trillion-dollar-stock-by-2025/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2229599011","content_text":"Nvidia's stock closed at an all-time high of $333.76 on Nov. 29, 2021, which gave the chipmaker a market cap of $834 billion. At the time, Nvidia seemed destined to become a trillion-dollar company.But after hitting its all-time high, Nvidia's stock shed over a third of its value and its market cap dropped to less than $550 billion. The bulls fled amid concerns about a post-COVID-lockdown slowdown in PC sales, while rising interest rates exacerbated that pain by sparking a sell-off in higher-growth stocks.Can Nvidia regain its momentum and finally join the twelve-zero club by 2025? Let's examine its upcoming catalysts and challenges to find out.Image source: Nvidia.Nvidia could face a cyclical slowdownNvidia's stock hit an all-time high last year as its gaming and data center GPU business generated dazzling growth throughout the pandemic.In the 2022 fiscal year, which ended this January, Nvidia's revenue surged 61% to $26.91 billion as its adjusted earnings per share (EPS) grew 78%. Its adjusted operating margin jumped 640 basis points to 47.2%. It attributed most of that growth to its robust sales of gaming and data center GPUs.But over the next three fiscal years, analysts expect Nvidia's revenue growth to decelerate as that upgrade cycle cools off. On the bright side, they expect its adjusted operating margin to consistently rise as it benefits from improved scale and pricing power in the GPU market.MetricFY 2023 EstimateFY 2024 EstimateFY 2025 EstimateRevenue Growth29%17%12%Adjusted operating margin48.3%49.4%51%Adjusted EPS growth 15%34%11%Data source: S&P Global Market Intelligence.If those expectations are met, Nvidia would generate $45.64 billion in revenue with an adjusted EPS of $6.59 in fiscal 2025.Nvidia currently trades at 16 times its revenue and about 50 times its EPS estimate for fiscal 2023. If Nvidia still trades at those forward valuations at the end of fiscal 2024 and hits the estimates, it would have a market cap of about $730 billion.However, those valuations would still be too rich for a company that's growing its revenue and earnings in the low teens. Therefore, I think Nvidia's market cap might stay between $500 billion and $700 billion over the next three years as it grapples with a cyclical slowdown in the GPU market.The near-term headwindsInvestors should take analysts' estimates with a grain of salt, but Nvidia stock likely needs to take a breather after its big growth spurt over the past few years.In HP's (NYSE: HPQ) latest earnings report, it said its sales of consumer PCs fell 1% year-over-year as it faced tough comparisons to the boost it got from remote work and gaming upgrades during the pandemic. That slowdown doesn't bode well for Nvidia and other PC chipmakers.Meanwhile, data center operators might buy fewer Nvidia GPUs for AI tasks as the usage of cloud-based services decelerates in a post-lockdown market. Waning interest in cryptocurrencies, many of which have lost value this year as investors have rotated out of riskier assets, will also curb sales of its gaming GPUs and dedicated mining chips.To make matters worse, Intel (NASDAQ: INTC) plans to disrupt Nvidia and AMD's (NASDAQ: AMD) duopoly in discrete GPUs with its own chips. These new GPUs, which Intel is bundling with its own CPUs, could cause more headaches for Nvidia and AMD as the broader gaming market slows down.The long-term tailwindsThose challenges seem daunting, but Nvidia has weathered plenty of cyclical downturns and competitive threats since its public debut in 1999. It also remains the dominant discrete GPU maker with an 81% market share, according to JPR's fourth-quarter numbers, compared to AMD's 19% share.The gaming and data center markets should also keep expanding over the next few years. The gaming PC market could expand at a compound annual growth rate (CAGR) of 14.9% between 2021 and 2027, according to Report Ocean, while Research and Markets expects the data center accelerator market to grow at a CAGR of 36.7% between 2021 and 2026.If Nvidia continues to dominate both of those growing markets, its cyclical slowdown could end a lot sooner than expected. Its oft-overlooked automotive chip business -- which generated just 2% of revenue in its latest quarter -- could also gain more traction as the automotive sector gradually recovers and develops new connected and autonomous vehicles.Look beyond Nvidia's market capNvidia probably won't become a trillion-dollar company by 2025, and investors who were spoiled by its 380% rally over the past three years might be a bit disappointed. However, it's arguably better for Nvidia's stock to cool off now and reset the market's expectations instead of flying off the rails with runaway valuations.Nvidia's stock might generate much lower returns over the next three years, but investors shouldn't abandon the chipmaker yet. Long-term secular tailwinds could still propel its stock to new all-time highs.","news_type":1},"isVote":1,"tweetType":1,"viewCount":136,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9081765595,"gmtCreate":1650282046733,"gmtModify":1676534685589,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9081765595","repostId":"2228982655","repostType":4,"repost":{"id":"2228982655","pubTimestamp":1650268804,"share":"https://www.laohu8.com/m/news/2228982655?lang=&edition=full","pubTime":"2022-04-18 16:00","market":"us","language":"en","title":"3 Monster Growth Stocks That Can Turn $200,000 Into $1 Million by 2030","url":"https://stock-news.laohu8.com/highlight/detail?id=2228982655","media":"Motley Fool","summary":"These supercharged growth stocks can make patient investors a lot richer.","content":"<html><head></head><body><p>Since the end of the Great Recession 13 years ago, growth stocks have proved virtually unstoppable. This shouldn&#39;t be a surprise given that historically low lending rates have afforded fast-paced companies access to cheap capital that they&#39;ve used to hire and retain talent, acquire other businesses, and innovate.</p><p>Although growth stocks have also taken it on the chin during the recent pullback in the broader market, history has shown that fast-growing companies often outperform during periods of economic weakness or contractions. In other words, it could be the perfect time to go shopping for high-quality growth stocks.</p><p>If your investing time frame is measured in years, the following three monster growth stocks all have the potential to turn a $200,000 initial investment into a cool $1 million by 2030.</p><h2>Pinterest</h2><p>The first monster growth stock that has all the tools necessary to deliver a 400% gain by the turn of the decade is social media platform <b>Pinterest</b>.</p><p>To say that shares of Pinterest have been clobbered would probably be an understatement. Since hitting an all-time high of nearly $90 in mid-February 2021, Pinterest&#39;s stock has lost just shy of three-quarters of its value. Skeptics appear worried about the company&#39;s nine-month decline in monthly active users (MAU) as well as the ramifications of what <b>Apple</b>&#39;s iOS privacy changes might have on ad-driven businesses. I&#39;m here to tell you that neither of these concerns has legs.</p><p>Although it&#39;s absolutely true that Pinterest is working on a three-quarter streak of declining MAUs, keep in mind that its user growth accelerated well above normal during the initial stages of the pandemic. The decline over the past three quarters corresponds with vaccination rates ticking up and people returning to some semblance of normal. But if you were to pan out and examine Pinterest&#39;s MAU growth over a five-year period, you&#39;d still see a steady uptrend.</p><p>Arguably far more important is the fact that Pinterest is monetizing its 431 million MAUs with ease. Last year, global average revenue per user (ARPU) rose 36%, with international ARPU rocketing higher by 80%.  There&#39;s a lot of room for ARPU expansion overseas, which is what should help Pinterest maintain a double-digit growth rate. It also demonstrates that advertisers are willing to pay quite the premium to reach Pinterest&#39;s large base of users.</p><p>Meanwhile, Apple&#39;s iOS privacy change, which allows users to opt out of data tracking, is a non-event for Pinterest. While Apple&#39;s changes could adversely affect platforms that rely on features such as &#34;likes&#34; to determine users&#39; interests, Pinterest&#39;s entire premise is users sharing the things, places, and services they like. Pinterest&#39;s 431 million MAUs are putting their interests on a silver platter for merchants. All Pinterest has to do is keep users engaged and be an effective middleman.</p><p>Given Pinterest&#39;s steady history of growth, it looks like a screaming bargain at its current level.</p><h2>Lovesac</h2><p>When you think of monster growth industries, things like cloud computing, the metaverse, and artificial intelligence probably come to mind. But what would you say if I told you <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most consistently fast-growing companies that could quintuple your initial investment over the next eight years is a furniture stock? Think I&#39;m crazy? Let&#39;s take a closer look at small-cap stock <b>Lovesac</b>.</p><p>Generally, the furniture industry is stodgy and unexciting. It&#39;s comprised of brick-and-mortar retailers relying on foot traffic into their stores and purchasing similar products from a small number of wholesalers. Lovesac is attempting to disrupt this industry with both its unique products and its multiple sales channels.</p><p>Years ago, Lovesac was known for its beanbag-styled chairs (&#34;sacs&#34;). But nearly 88% of the company&#39;s fiscal 2022 revenue (the company&#39;s fiscal year ended Jan. 30, 2022) derived from the sale of &#34;sactionals.&#34;  A sactional is a modular couch that buyers can rearrange dozens of ways to fit virtually any living space.</p><p>Aside from function, there are three big advantages with sactionals. First, they&#39;re upgradable with everything from charging ports to surround-sound speakers. Second, there are over 200 different cover choices, meaning a sactional can match any color or theme of a home. And third, the yarn used in these covers is made entirely from recycled plastic water bottles. That&#39;s eco-friendly furniture, incredible choice, and function all rolled up into one product.</p><p>The other big difference between Lovesac and the rest of the furniture industry is its omnichannel sales platform. For example, Lovesac shifted nearly half of its sales online during the pandemic. It also operates pop-up showrooms, has a handful of brand-name showroom partnerships, and operates 146 retail locations in 39 states. With a bigger reliance on direct-to-consumer sales than traditional furniture retailers, Lovesac&#39;s overhead expenses are considerably lower.</p><p>I believe Lovesac is fully capable of sustaining a 20% growth rate, which makes it a no-brainer buy on this dip.</p><h2><a href=\"https://laohu8.com/S/TRUP\">Trupanion</a></h2><p>A third and final monster growth stock with the capacity to turn a $200,000 initial investment into $1 million by 2030 is companion animal health insurance company <b>Trupanion</b>.</p><p>While spending growth on companion animals isn&#39;t going to knock investors&#39; socks off, it&#39;s arguably one of the most recession-resistant industries on the planet. Last year, an estimated $109.6 billion was spent on pets in the U.S., with more than $32 billion of that spending going toward veterinary care and product sales. It&#39;s been more than a quarter of a century since year-over-year spending on companion animals has declined in the United States. In short, pet owners are willingly opening their wallets for their furry, gilled, scaled, and feathered family members.</p><p>What makes Trupanion such an intriguing investment opportunity is its addressable market. Only an estimated 2% of companion animals in the U.S. and Canada are covered by a health insurance plan. Comparatively, the U.K. and Sweden have pet-coverage penetration rates of 25% and 40%, respectively. If Trupanion, which is already the leading pet insurance company, were to reach a 25% penetration rate in the U.S. and Canada, its addressable market would be more than $38 billion!  For context, the company delivered $699 million in full-year sales in 2021.</p><p>Even though competition is picking up in the pet insurance space, Trupanion has a few competitive advantages on its side. For instance, it has more than two decades of rapport built up with veterinarians and clinics working in its favor.</p><p>Furthermore, Trupanion is the only major health insurer that offers software to handle payments to veterinarians at the time of checkout. That means less hassle for its members and all the more reason for veterinarians and clinics to promote Trupanion insurance plans.</p><p>This is a company that has the tools to sustain a 20% top-line growth rate through at least the midpoint of the decade. It&#39;s the perfect fast-paced stock to fetch big gains for patient investors by the turn of the decade.</p></body></html>","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>3 Monster Growth Stocks That Can Turn $200,000 Into $1 Million by 2030</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\">\n3 Monster Growth Stocks That Can Turn $200,000 Into $1 Million by 2030\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-18 16:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/04/17/3-growth-stocks-turn-200000-into-1-million-by-2030/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Since the end of the Great Recession 13 years ago, growth stocks have proved virtually unstoppable. This shouldn't be a surprise given that historically low lending rates have afforded fast-paced ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/04/17/3-growth-stocks-turn-200000-into-1-million-by-2030/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TRUP":"Trupanion","PINS":"Pinterest, Inc.","LOVE":"Lovesac Co."},"source_url":"https://www.fool.com/investing/2022/04/17/3-growth-stocks-turn-200000-into-1-million-by-2030/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2228982655","content_text":"Since the end of the Great Recession 13 years ago, growth stocks have proved virtually unstoppable. This shouldn't be a surprise given that historically low lending rates have afforded fast-paced companies access to cheap capital that they've used to hire and retain talent, acquire other businesses, and innovate.Although growth stocks have also taken it on the chin during the recent pullback in the broader market, history has shown that fast-growing companies often outperform during periods of economic weakness or contractions. In other words, it could be the perfect time to go shopping for high-quality growth stocks.If your investing time frame is measured in years, the following three monster growth stocks all have the potential to turn a $200,000 initial investment into a cool $1 million by 2030.PinterestThe first monster growth stock that has all the tools necessary to deliver a 400% gain by the turn of the decade is social media platform Pinterest.To say that shares of Pinterest have been clobbered would probably be an understatement. Since hitting an all-time high of nearly $90 in mid-February 2021, Pinterest's stock has lost just shy of three-quarters of its value. Skeptics appear worried about the company's nine-month decline in monthly active users (MAU) as well as the ramifications of what Apple's iOS privacy changes might have on ad-driven businesses. I'm here to tell you that neither of these concerns has legs.Although it's absolutely true that Pinterest is working on a three-quarter streak of declining MAUs, keep in mind that its user growth accelerated well above normal during the initial stages of the pandemic. The decline over the past three quarters corresponds with vaccination rates ticking up and people returning to some semblance of normal. But if you were to pan out and examine Pinterest's MAU growth over a five-year period, you'd still see a steady uptrend.Arguably far more important is the fact that Pinterest is monetizing its 431 million MAUs with ease. Last year, global average revenue per user (ARPU) rose 36%, with international ARPU rocketing higher by 80%.  There's a lot of room for ARPU expansion overseas, which is what should help Pinterest maintain a double-digit growth rate. It also demonstrates that advertisers are willing to pay quite the premium to reach Pinterest's large base of users.Meanwhile, Apple's iOS privacy change, which allows users to opt out of data tracking, is a non-event for Pinterest. While Apple's changes could adversely affect platforms that rely on features such as \"likes\" to determine users' interests, Pinterest's entire premise is users sharing the things, places, and services they like. Pinterest's 431 million MAUs are putting their interests on a silver platter for merchants. All Pinterest has to do is keep users engaged and be an effective middleman.Given Pinterest's steady history of growth, it looks like a screaming bargain at its current level.LovesacWhen you think of monster growth industries, things like cloud computing, the metaverse, and artificial intelligence probably come to mind. But what would you say if I told you one of the most consistently fast-growing companies that could quintuple your initial investment over the next eight years is a furniture stock? Think I'm crazy? Let's take a closer look at small-cap stock Lovesac.Generally, the furniture industry is stodgy and unexciting. It's comprised of brick-and-mortar retailers relying on foot traffic into their stores and purchasing similar products from a small number of wholesalers. Lovesac is attempting to disrupt this industry with both its unique products and its multiple sales channels.Years ago, Lovesac was known for its beanbag-styled chairs (\"sacs\"). But nearly 88% of the company's fiscal 2022 revenue (the company's fiscal year ended Jan. 30, 2022) derived from the sale of \"sactionals.\"  A sactional is a modular couch that buyers can rearrange dozens of ways to fit virtually any living space.Aside from function, there are three big advantages with sactionals. First, they're upgradable with everything from charging ports to surround-sound speakers. Second, there are over 200 different cover choices, meaning a sactional can match any color or theme of a home. And third, the yarn used in these covers is made entirely from recycled plastic water bottles. That's eco-friendly furniture, incredible choice, and function all rolled up into one product.The other big difference between Lovesac and the rest of the furniture industry is its omnichannel sales platform. For example, Lovesac shifted nearly half of its sales online during the pandemic. It also operates pop-up showrooms, has a handful of brand-name showroom partnerships, and operates 146 retail locations in 39 states. With a bigger reliance on direct-to-consumer sales than traditional furniture retailers, Lovesac's overhead expenses are considerably lower.I believe Lovesac is fully capable of sustaining a 20% growth rate, which makes it a no-brainer buy on this dip.TrupanionA third and final monster growth stock with the capacity to turn a $200,000 initial investment into $1 million by 2030 is companion animal health insurance company Trupanion.While spending growth on companion animals isn't going to knock investors' socks off, it's arguably one of the most recession-resistant industries on the planet. Last year, an estimated $109.6 billion was spent on pets in the U.S., with more than $32 billion of that spending going toward veterinary care and product sales. It's been more than a quarter of a century since year-over-year spending on companion animals has declined in the United States. In short, pet owners are willingly opening their wallets for their furry, gilled, scaled, and feathered family members.What makes Trupanion such an intriguing investment opportunity is its addressable market. Only an estimated 2% of companion animals in the U.S. and Canada are covered by a health insurance plan. Comparatively, the U.K. and Sweden have pet-coverage penetration rates of 25% and 40%, respectively. If Trupanion, which is already the leading pet insurance company, were to reach a 25% penetration rate in the U.S. and Canada, its addressable market would be more than $38 billion!  For context, the company delivered $699 million in full-year sales in 2021.Even though competition is picking up in the pet insurance space, Trupanion has a few competitive advantages on its side. For instance, it has more than two decades of rapport built up with veterinarians and clinics working in its favor.Furthermore, Trupanion is the only major health insurer that offers software to handle payments to veterinarians at the time of checkout. That means less hassle for its members and all the more reason for veterinarians and clinics to promote Trupanion insurance plans.This is a company that has the tools to sustain a 20% top-line growth rate through at least the midpoint of the decade. It's the perfect fast-paced stock to fetch big gains for patient investors by the turn of the decade.","news_type":1},"isVote":1,"tweetType":1,"viewCount":146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9083812037,"gmtCreate":1650089580093,"gmtModify":1676534645938,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9083812037","repostId":"2227638600","repostType":4,"repost":{"id":"2227638600","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":1650064990,"share":"https://www.laohu8.com/m/news/2227638600?lang=&edition=full","pubTime":"2022-04-16 07:23","market":"us","language":"en","title":"Twitter Adopts \"Poison Pill\" to Fight Musk Takeover","url":"https://stock-news.laohu8.com/highlight/detail?id=2227638600","media":"Reuters","summary":"$Twitter$ Inc on Friday adopted a limited-duration shareholder rights plan to protect itself from billionaire entrepreneur Elon Musk's $43 billion cash takeover offer.Musk made the bid on Wednesday in a letter to the board of Twitter- the micro-blogging platform that has become a global means of communication for individuals and world leaders - and it was made public in a regulatory filing on Thursday.After his TED talk on Thursday, Musk hinted at the possibility of a hostile bid in which he wou","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/TWTR\">Twitter</a> Inc on Friday adopted a limited-duration shareholder rights plan to protect itself from billionaire entrepreneur Elon Musk&#39;s $43 billion cash takeover offer.</p><p>Musk made the bid on Wednesday in a letter to the board of Twitter- the micro-blogging platform that has become a global means of communication for individuals and world leaders - and it was made public in a regulatory filing on Thursday.</p><p>After his TED talk on Thursday, Musk hinted at the possibility of a hostile bid in which he would bypass Twitter&#39;s board and put the offer directly to its shareholders, tweeting: &#34;It would be utterly indefensible not to put this offer to a shareholder vote.&#34;</p><p>Under the plan, also known as a &#39;poison pill&#39; strategy to resist a bid from a potential acquirer, the rights will become exercisable if anyone acquires ownership of 15% or more of Twitter&#39;s outstanding common stock in a transaction not approved by the Board.</p><p>The rights plan will expire on April 14, 2023, Twitter said.</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>Twitter Adopts \"Poison Pill\" to Fight Musk Takeover</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\">\nTwitter Adopts \"Poison Pill\" to Fight Musk Takeover\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\">2022-04-16 07:23</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/TWTR\">Twitter</a> Inc on Friday adopted a limited-duration shareholder rights plan to protect itself from billionaire entrepreneur Elon Musk&#39;s $43 billion cash takeover offer.</p><p>Musk made the bid on Wednesday in a letter to the board of Twitter- the micro-blogging platform that has become a global means of communication for individuals and world leaders - and it was made public in a regulatory filing on Thursday.</p><p>After his TED talk on Thursday, Musk hinted at the possibility of a hostile bid in which he would bypass Twitter&#39;s board and put the offer directly to its shareholders, tweeting: &#34;It would be utterly indefensible not to put this offer to a shareholder vote.&#34;</p><p>Under the plan, also known as a &#39;poison pill&#39; strategy to resist a bid from a potential acquirer, the rights will become exercisable if anyone acquires ownership of 15% or more of Twitter&#39;s outstanding common stock in a transaction not approved by the Board.</p><p>The rights plan will expire on April 14, 2023, Twitter said.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4533":"AQR资本管理(全球第二大对冲基金)","BK4511":"特斯拉概念","BK4099":"汽车制造商","BK4574":"无人驾驶","TWTR":"Twitter","BK4551":"寇图资本持仓","BK4548":"巴美列捷福持仓","TSLA":"特斯拉","BK4534":"瑞士信贷持仓","BK4527":"明星科技股","BK4581":"高盛持仓","BK4555":"新能源车","BK4550":"红杉资本持仓"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2227638600","content_text":"Twitter Inc on Friday adopted a limited-duration shareholder rights plan to protect itself from billionaire entrepreneur Elon Musk's $43 billion cash takeover offer.Musk made the bid on Wednesday in a letter to the board of Twitter- the micro-blogging platform that has become a global means of communication for individuals and world leaders - and it was made public in a regulatory filing on Thursday.After his TED talk on Thursday, Musk hinted at the possibility of a hostile bid in which he would bypass Twitter's board and put the offer directly to its shareholders, tweeting: \"It would be utterly indefensible not to put this offer to a shareholder vote.\"Under the plan, also known as a 'poison pill' strategy to resist a bid from a potential acquirer, the rights will become exercisable if anyone acquires ownership of 15% or more of Twitter's outstanding common stock in a transaction not approved by the Board.The rights plan will expire on April 14, 2023, Twitter said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":159,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9080985348,"gmtCreate":1649831960919,"gmtModify":1676534586202,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9080985348","repostId":"2226866854","repostType":4,"repost":{"id":"2226866854","pubTimestamp":1649813060,"share":"https://www.laohu8.com/m/news/2226866854?lang=&edition=full","pubTime":"2022-04-13 09:24","market":"us","language":"en","title":"Shopify, Alphabet, Amazon, and Tesla Stocks Are Splitting -- Which Ones Are the Best Buys?","url":"https://stock-news.laohu8.com/highlight/detail?id=2226866854","media":"Motley Fool","summary":"These tech superstars offer compelling reasons to buy and hold for the long haul.","content":"<html><head></head><body><p><b>Shopify</b> just joined <b>Amazon</b>, <b>Alphabet</b>, and <b>Tesla</b> in announcing stock splits. Shares of the e-commerce software company will undergo a 10-for-1 split, and a &#34;founder&#39;s share&#34; for co-founder and CEO Tobi Lütke is also being proposed (which would give Lütke 40% of total Shopify voting power).</p><p>Companies split their stocks for good reasons, like to better manage stock-based compensation to employees or share buybacks. However, a stock split by itself doesn&#39;t change a company&#39;s fundamental value, so business health should be assessed rather than stock price when contemplating a buy. With that in mind, here&#39;s why each of these stock split companies is a worthwhile long-term buy-and-hold right now.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61875aab70f030febf158c27e36b8349\" tg-width=\"700\" tg-height=\"393\" width=\"100%\" height=\"auto\"/><span>Image source: Getty Images.</span></p><h2>1. Shopify: A 100-year mission still early in its development</h2><p>I&#39;ll start with Shopify, because this is my favorite company among the stock split candidates discussed here. I believe this stock also has some of the biggest upside potential in the next decade and beyond.</p><p>Shopify is on a &#34;100 year mission to make commerce better for everyone.&#34; Since its IPO in 2015, shares are up over 2,300%, and that&#39;s despite the recent 60%-plus sell-off from all-time highs. Suffice to say the journey has been highly profitable so far. Shopify&#39;s software suite helps aspiring entrepreneurs, small businesses, and fast-growing retail brands manage their sales online and via traditional in-person channels. Services include everything from website management to social media marketing to digital payment acceptance.</p><p>Shopify&#39;s focus over the next couple of years will be scaling its Fulfillment Network, local warehouses from which Shopify users can manage inventory and quickly ship orders to customers. In an era of fast fulfillment, giving small merchants similar shipping options as bigger retailers will be a big challenge for Shopify -- but <a href=\"https://laohu8.com/S/AONE.U\">one</a> that could be highly profitable if it can pull it off.</p><p>Given the expectation for continued double-digit percentage growth, Shopify stock appears cheap at just 27 times trailing 12-month earnings. It isn&#39;t, especially considering Shopify Fulfillment Network is going to cost about $1 billion to build over the next few years. Nevertheless, this company has proven its worth in the retail world, and it has a mission that aligns with the benefit of its large and expanding user base. Shopify looks like a fantastic buy right now ahead of its proposed stock split.</p><h2>2. Alphabet: The internet is a secular growth megatrend</h2><p>In July, Google parent company Alphabet will undergo a 20-for-1 stock split. The last time the internet search leader underwent such activity was in 2014. Since then, Alphabet shares have risen over 350%.</p><p>There are plenty of reasons to believe Alphabet will continue to provide steady growth for many years to come. For one thing, its bread-and-butter business selling digital ads is still steadily gobbling up global market share of the overall advertising industry (on pace to reach $1 trillion a year in global spending). Digital ads have a lot of benefits for marketers, and they&#39;re highly profitable for Google.</p><p>Alphabet is using those profits from its core Google business (&#34;Google Services&#34; generated an operating profit margin of 37% in 2021) to fuel lots of other projects. Google Cloud is chief among them. Organizations are migrating their IT workloads to data centers and adopting cloud-based services, providing Google with a second secular growth megatrend beyond just digital ads. Add in Google Payments, YouTube, various subscription services, self-driving cars, and more, and Google has no shortage of directions to take its business.</p><p>Plus this is one of the deepest-pocketed organizations around. Alphabet had $140 billion in cash and short-term investments on hand at the end of 2021, offset by debt of only $14.8 billion. Trading for just 26 times trailing 12-month free cash flow, Alphabet stock looks like one of the best long-term values out there right now.</p><h2>3. Tesla: Still massive upside for the EV market</h2><p>Tesla had its last 5-for-1 stock split over the summer of 2020, and shares have doubled in value since then. In recent regulatory filings, the company has indicated it will put another stock split on the table for shareholders to vote on.</p><p>The real reason to invest in Tesla right now, though, is the massive consumer migration from traditional internal combustion engine vehicles to electric vehicles. Of the nearly-67 million vehicles sold worldwide in 2021, only about 6.5 million were electric vehicles (EVs). Tesla delivered just over 936,000 vehicles in 2021.</p><p>As legacy automakers and other EV start-ups fire up their assembly lines for next-gen cars, it isn&#39;t reasonable to expect Tesla to continue commanding such a large slice of the EV market share. However, management thinks it can continue growing sales at roughly the same rate as the EV space overall, about 50% per year, for the next few years. For an automaker that just cranked out over $45 billion worth of vehicle sales in 2021 (less environmental regulatory credits sold to other automakers), that&#39;s an ambitious growth rate.</p><p>A few catalysts could help Tesla supercharge its way to $100 billion in annual sales and beyond. Its new Gigafactories in Berlin and Austin, Texas, are now live. Though temporarily shuttered due to a coronavirus outbreak, the Gigafactory in Shanghai will handle production in Asia. More factories are likely on the way, as are new models like the Cybertruck. At 71 times one-year forward expected earnings, fantastic execution of its expansion plans is already priced into this stock. But if you think the move to EVs will continue at a rapid pace for the next decade, there&#39;s a lot to like about Tesla even at these sky-high prices.</p><h2>4. Amazon: A fantastic allocator of capital goes on a spending spree</h2><p>For in-the-know investors, Amazon&#39;s mind-boggling run higher isn&#39;t simply a story of e-commerce expansion. It&#39;s true, Amazon used its early lead in selling online to its advantage, but that&#39;s not really what has made the stock move nearly <i>155,000% higher</i> since its IPO in 1997. Rather, it&#39;s been the company&#39;s success in allocating capital to highly profitable new projects adjacent to its e-commerce empire that has been the key ingredient to its success.</p><p>Amazon Web Services (AWS), the cloud computing segment that started simply by &#34;renting out&#34; extra data center capacity from the e-commerce segment, generated only 13% of all revenue last year. However, AWS operating profit accounted for 75% of Amazon&#39;s grand total. Other services like advertising on its merchant platform accounted for much of the rest of operating income.</p><p>Amazon spent an incredible $65 billion on capital expenditures (property, plant, and equipment) to support its long-term growth last year. With infrastructure costs only increasing thanks to inflation, that pace of spending isn&#39;t likely to abate anytime soon. For reference, Amazon&#39;s capital expenditures were $20 billion in 2020. The explosion in spending in support of steady expansion has put pressure on the e-commerce giant&#39;s bottom line. Shares currently trade for 47 times trailing 12-month earnings, and 240 times trailing 12-month free cash flow.</p><p>However, if you believe Amazon will continue to be an excellent allocator of capital to the right projects at the right time, there&#39;s a lot to like about that explosion in capital investment. Amazon is also undergoing a 20-for-1 stock split in May, but there is a multitude of longer-term reasons to buy and hold beyond this one-time stock split event.</p></body></html>","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>Shopify, Alphabet, Amazon, and Tesla Stocks Are Splitting -- Which Ones Are the Best Buys?</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\">\nShopify, Alphabet, Amazon, and Tesla Stocks Are Splitting -- Which Ones Are the Best Buys?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-13 09:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/04/12/shopify-alphabet-amazon-tesla-stocks-are-split/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shopify just joined Amazon, Alphabet, and Tesla in announcing stock splits. Shares of the e-commerce software company will undergo a 10-for-1 split, and a \"founder's share\" for co-founder and CEO Tobi...</p>\n\n<a href=\"https://www.fool.com/investing/2022/04/12/shopify-alphabet-amazon-tesla-stocks-are-split/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","BK4524":"宅经济概念","BK4535":"淡马锡持仓","AMZN":"亚马逊","BK4538":"云计算","TSLA":"特斯拉","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4116":"互联网服务与基础架构","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4503":"景林资产持仓","BK4574":"无人驾驶","BK4122":"互联网与直销零售","BK4551":"寇图资本持仓","BK4561":"索罗斯持仓","BK4581":"高盛持仓","BK4511":"特斯拉概念","BK4548":"巴美列捷福持仓","GOOGL":"谷歌A","SHOP":"Shopify Inc","BK4528":"SaaS概念","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","BBY":"百思买","BK4567":"ESG概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4555":"新能源车","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团"},"source_url":"https://www.fool.com/investing/2022/04/12/shopify-alphabet-amazon-tesla-stocks-are-split/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2226866854","content_text":"Shopify just joined Amazon, Alphabet, and Tesla in announcing stock splits. Shares of the e-commerce software company will undergo a 10-for-1 split, and a \"founder's share\" for co-founder and CEO Tobi Lütke is also being proposed (which would give Lütke 40% of total Shopify voting power).Companies split their stocks for good reasons, like to better manage stock-based compensation to employees or share buybacks. However, a stock split by itself doesn't change a company's fundamental value, so business health should be assessed rather than stock price when contemplating a buy. With that in mind, here's why each of these stock split companies is a worthwhile long-term buy-and-hold right now.Image source: Getty Images.1. Shopify: A 100-year mission still early in its developmentI'll start with Shopify, because this is my favorite company among the stock split candidates discussed here. I believe this stock also has some of the biggest upside potential in the next decade and beyond.Shopify is on a \"100 year mission to make commerce better for everyone.\" Since its IPO in 2015, shares are up over 2,300%, and that's despite the recent 60%-plus sell-off from all-time highs. Suffice to say the journey has been highly profitable so far. Shopify's software suite helps aspiring entrepreneurs, small businesses, and fast-growing retail brands manage their sales online and via traditional in-person channels. Services include everything from website management to social media marketing to digital payment acceptance.Shopify's focus over the next couple of years will be scaling its Fulfillment Network, local warehouses from which Shopify users can manage inventory and quickly ship orders to customers. In an era of fast fulfillment, giving small merchants similar shipping options as bigger retailers will be a big challenge for Shopify -- but one that could be highly profitable if it can pull it off.Given the expectation for continued double-digit percentage growth, Shopify stock appears cheap at just 27 times trailing 12-month earnings. It isn't, especially considering Shopify Fulfillment Network is going to cost about $1 billion to build over the next few years. Nevertheless, this company has proven its worth in the retail world, and it has a mission that aligns with the benefit of its large and expanding user base. Shopify looks like a fantastic buy right now ahead of its proposed stock split.2. Alphabet: The internet is a secular growth megatrendIn July, Google parent company Alphabet will undergo a 20-for-1 stock split. The last time the internet search leader underwent such activity was in 2014. Since then, Alphabet shares have risen over 350%.There are plenty of reasons to believe Alphabet will continue to provide steady growth for many years to come. For one thing, its bread-and-butter business selling digital ads is still steadily gobbling up global market share of the overall advertising industry (on pace to reach $1 trillion a year in global spending). Digital ads have a lot of benefits for marketers, and they're highly profitable for Google.Alphabet is using those profits from its core Google business (\"Google Services\" generated an operating profit margin of 37% in 2021) to fuel lots of other projects. Google Cloud is chief among them. Organizations are migrating their IT workloads to data centers and adopting cloud-based services, providing Google with a second secular growth megatrend beyond just digital ads. Add in Google Payments, YouTube, various subscription services, self-driving cars, and more, and Google has no shortage of directions to take its business.Plus this is one of the deepest-pocketed organizations around. Alphabet had $140 billion in cash and short-term investments on hand at the end of 2021, offset by debt of only $14.8 billion. Trading for just 26 times trailing 12-month free cash flow, Alphabet stock looks like one of the best long-term values out there right now.3. Tesla: Still massive upside for the EV marketTesla had its last 5-for-1 stock split over the summer of 2020, and shares have doubled in value since then. In recent regulatory filings, the company has indicated it will put another stock split on the table for shareholders to vote on.The real reason to invest in Tesla right now, though, is the massive consumer migration from traditional internal combustion engine vehicles to electric vehicles. Of the nearly-67 million vehicles sold worldwide in 2021, only about 6.5 million were electric vehicles (EVs). Tesla delivered just over 936,000 vehicles in 2021.As legacy automakers and other EV start-ups fire up their assembly lines for next-gen cars, it isn't reasonable to expect Tesla to continue commanding such a large slice of the EV market share. However, management thinks it can continue growing sales at roughly the same rate as the EV space overall, about 50% per year, for the next few years. For an automaker that just cranked out over $45 billion worth of vehicle sales in 2021 (less environmental regulatory credits sold to other automakers), that's an ambitious growth rate.A few catalysts could help Tesla supercharge its way to $100 billion in annual sales and beyond. Its new Gigafactories in Berlin and Austin, Texas, are now live. Though temporarily shuttered due to a coronavirus outbreak, the Gigafactory in Shanghai will handle production in Asia. More factories are likely on the way, as are new models like the Cybertruck. At 71 times one-year forward expected earnings, fantastic execution of its expansion plans is already priced into this stock. But if you think the move to EVs will continue at a rapid pace for the next decade, there's a lot to like about Tesla even at these sky-high prices.4. Amazon: A fantastic allocator of capital goes on a spending spreeFor in-the-know investors, Amazon's mind-boggling run higher isn't simply a story of e-commerce expansion. It's true, Amazon used its early lead in selling online to its advantage, but that's not really what has made the stock move nearly 155,000% higher since its IPO in 1997. Rather, it's been the company's success in allocating capital to highly profitable new projects adjacent to its e-commerce empire that has been the key ingredient to its success.Amazon Web Services (AWS), the cloud computing segment that started simply by \"renting out\" extra data center capacity from the e-commerce segment, generated only 13% of all revenue last year. However, AWS operating profit accounted for 75% of Amazon's grand total. Other services like advertising on its merchant platform accounted for much of the rest of operating income.Amazon spent an incredible $65 billion on capital expenditures (property, plant, and equipment) to support its long-term growth last year. With infrastructure costs only increasing thanks to inflation, that pace of spending isn't likely to abate anytime soon. For reference, Amazon's capital expenditures were $20 billion in 2020. The explosion in spending in support of steady expansion has put pressure on the e-commerce giant's bottom line. Shares currently trade for 47 times trailing 12-month earnings, and 240 times trailing 12-month free cash flow.However, if you believe Amazon will continue to be an excellent allocator of capital to the right projects at the right time, there's a lot to like about that explosion in capital investment. Amazon is also undergoing a 20-for-1 stock split in May, but there is a multitude of longer-term reasons to buy and hold beyond this one-time stock split event.","news_type":1},"isVote":1,"tweetType":1,"viewCount":230,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9014351440,"gmtCreate":1649624591033,"gmtModify":1676534537564,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9014351440","repostId":"2225524274","repostType":4,"repost":{"id":"2225524274","pubTimestamp":1649462464,"share":"https://www.laohu8.com/m/news/2225524274?lang=&edition=full","pubTime":"2022-04-09 08:01","market":"us","language":"en","title":"Want $1 Million in Retirement? Invest $100,000 in These 3 Stocks and Wait a Decade","url":"https://stock-news.laohu8.com/highlight/detail?id=2225524274","media":"Motley Fool","summary":"The math adds up if these companies can keep performing.","content":"<html><head></head><body><p>Who wants to be a millionaire? With the possible exception of billionaires, just about everyone does. The idea spawned a British (and then an American) quiz show. On television, it can happen overnight.</p><p>In investing, becoming a millionaire takes time. Buying shares of high-performing companies can, over time, produce life-changing gains. <b>The</b> <b>Trade</b> <b>Desk</b>, <b>Paycom Software</b>, and <b>Align</b> <b>Technology</b> are three that I believe have that potential.</p><p>Let&#39;s look at their earnings, growth rates, and valuations to see how they could transform a $100,000 portfolio into a seven-figure retirement nest egg over the next decade.</p><h2>1. The Trade Desk</h2><p>There is an old saying in the advertising business that half of ad spending is wasted, but nobody knows which half. The Trade Desk is eliminating that waste with its data-driven self-service platform. Its customers manage their ad spending on more than 500 billion digital opportunities per day. The goal is to help customers make the most intelligent ad-buying decisions and provide them with an abundance of performance feedback. In today&#39;s digital economy, it&#39;s invaluable.</p><p>And business is growing like a weed. Earnings per share (EPS) are expected to climb more than 23% next year. That&#39;s a reasonable rate to use in our calculation. The company has grown revenue 375% over the past five years. Also, gross spend on Trade Desk&#39;s platform climbed 47% last year to $6.2 billion. And management pegs the global ad-spend opportunity at $750 billion, with about $50 billion in display advertising. That offers plenty of room to grow for years.</p><p><img src=\"https://static.tigerbbs.com/3105e52ee3274f0a262bd444d428b18f\" tg-width=\"720\" tg-height=\"433\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>TTD revenue (TTM). Data by YCharts. TTM = trailing 12 months.</p><p>Wall Street sees the potential. The Trade Desk&#39;s price-to-earnings (P/E) ratio has varied between 40 and 120 over the past few years. We&#39;ll use 50 for our calculations.</p><p>Doing the math on an initial investment of $33,333.33 (a third of the $100,000) leads to a stake in The Trade Desk worth almost $190,000 in 2032. That relies on bold assumptions. But they are well within what the company has delivered so far.</p><h2>2. Paycom</h2><p>Paycom offers businesses a platform to manage employee payroll, time and attendance, and benefits administration, among other things. Its product was built for the cloud. That&#39;s different from many traditional human capital management (HCM) vendors that have pieced together acquired software over the years.</p><p>Customers can clearly tell the difference. Paycom topped $1 billion in revenue last year for the first time, a 26% increase over 2020. Most importantly, that revenue is recurring and sticky. Revenue retention was 94% in 2021. Customers stick around once they start using the platform.</p><p>Before the pandemic, Paycom&#39;s top line was expanding between 30% and 45% each year. We&#39;ll use last year&#39;s 26% for our calculation and apply a multiple of 60 times earnings. That seems high. But shares have stayed within a range of 50 to 100 times earnings over the years.</p><p>For Paycom, that <a href=\"https://laohu8.com/S/AONE.U\">one</a>-third of the $100,000 hypothetically invested in 2022 turns into more than $350,000 a decade from now. That would make it a 10-bagger. While it might seem unlikely, if the market continues to reward predictable revenue, and Paycom continues to grow, it&#39;s possible. After all, its $1.1 billion in 2021 revenue is a drop in the bucket of an HCM market that is predicted to reach $47 billion by 2029.</p><h2>3. Align Technology</h2><p>The company best known for its Invisalign clear teeth-straightening system is actually a vertically integrated combination of several businesses. They all help people get straighter teeth faster, and orthodontists and dentists see more clients every year. It also provides scanners and software -- two acquisitions -- that help practitioners develop and communicate a plan for patients.</p><p>The growth opportunity is tremendous. Management estimates 500 million potential customers in the world with 21 million orthodontic starts each year -- two-thirds of them teens. For context, it shipped 2.55 million aligners last year.</p><p>Align is the crown jewel in our attempt to grow a million-dollar portfolio. The $33,333.33 invested in it could grow over the next 10 years into $461,000. That&#39;s assuming the $12.50 analysts expect this year grows at the midpoint of management&#39;s long-term guidance of 20% to 30% a year. Similar to the other two stocks, Align typically trades at a premium. We&#39;ll use 50 times earnings, slightly above the bottom of the 40 to 100 historical P/E range. It&#39;s an amazing potential return when running the numbers.</p><h2>&#34;It&#39;s tough to make predictions, especially about the future&#34;</h2><p>That quote from Yankees legend Yogi Berra underscores a key point in the analysis above. No one knows what the world is going to look like in 10 years. Investors with a long-term mindset need to block out the noise without being irresponsible.</p><p>The Trade Desk, Paycom, and Align have all grown rapidly while turning a profit. I expect that to continue. If the assumptions hold, a $100,000 investment will be worth $1 million in 10 short years.</p><p><img src=\"https://static.tigerbbs.com/0b4adf9eeb7896d353fe014f3f351429\" tg-width=\"700\" tg-height=\"302\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Calculations and chart by author.</p><p>It&#39;s an interesting exercise that relies on the past as a guide. If the performance changes, so can the outcome. That&#39;s why it&#39;s best to build a diversified portfolio of a lot more than three stocks.</p></body></html>","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>Want $1 Million in Retirement? Invest $100,000 in These 3 Stocks and Wait a Decade</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\">\nWant $1 Million in Retirement? Invest $100,000 in These 3 Stocks and Wait a Decade\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-09 08:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/04/08/want-1-million-in-retirement-invest-100000-in-thes/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Who wants to be a millionaire? With the possible exception of billionaires, just about everyone does. The idea spawned a British (and then an American) quiz show. On television, it can happen ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/04/08/want-1-million-in-retirement-invest-100000-in-thes/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4007":"制药","BK4099":"汽车制造商","BK4531":"中概回港概念","HCM":"和黄医药","TTM":"塔塔汽车","BK4523":"印度概念"},"source_url":"https://www.fool.com/investing/2022/04/08/want-1-million-in-retirement-invest-100000-in-thes/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2225524274","content_text":"Who wants to be a millionaire? With the possible exception of billionaires, just about everyone does. The idea spawned a British (and then an American) quiz show. On television, it can happen overnight.In investing, becoming a millionaire takes time. Buying shares of high-performing companies can, over time, produce life-changing gains. The Trade Desk, Paycom Software, and Align Technology are three that I believe have that potential.Let's look at their earnings, growth rates, and valuations to see how they could transform a $100,000 portfolio into a seven-figure retirement nest egg over the next decade.1. The Trade DeskThere is an old saying in the advertising business that half of ad spending is wasted, but nobody knows which half. The Trade Desk is eliminating that waste with its data-driven self-service platform. Its customers manage their ad spending on more than 500 billion digital opportunities per day. The goal is to help customers make the most intelligent ad-buying decisions and provide them with an abundance of performance feedback. In today's digital economy, it's invaluable.And business is growing like a weed. Earnings per share (EPS) are expected to climb more than 23% next year. That's a reasonable rate to use in our calculation. The company has grown revenue 375% over the past five years. Also, gross spend on Trade Desk's platform climbed 47% last year to $6.2 billion. And management pegs the global ad-spend opportunity at $750 billion, with about $50 billion in display advertising. That offers plenty of room to grow for years.TTD revenue (TTM). Data by YCharts. TTM = trailing 12 months.Wall Street sees the potential. The Trade Desk's price-to-earnings (P/E) ratio has varied between 40 and 120 over the past few years. We'll use 50 for our calculations.Doing the math on an initial investment of $33,333.33 (a third of the $100,000) leads to a stake in The Trade Desk worth almost $190,000 in 2032. That relies on bold assumptions. But they are well within what the company has delivered so far.2. PaycomPaycom offers businesses a platform to manage employee payroll, time and attendance, and benefits administration, among other things. Its product was built for the cloud. That's different from many traditional human capital management (HCM) vendors that have pieced together acquired software over the years.Customers can clearly tell the difference. Paycom topped $1 billion in revenue last year for the first time, a 26% increase over 2020. Most importantly, that revenue is recurring and sticky. Revenue retention was 94% in 2021. Customers stick around once they start using the platform.Before the pandemic, Paycom's top line was expanding between 30% and 45% each year. We'll use last year's 26% for our calculation and apply a multiple of 60 times earnings. That seems high. But shares have stayed within a range of 50 to 100 times earnings over the years.For Paycom, that one-third of the $100,000 hypothetically invested in 2022 turns into more than $350,000 a decade from now. That would make it a 10-bagger. While it might seem unlikely, if the market continues to reward predictable revenue, and Paycom continues to grow, it's possible. After all, its $1.1 billion in 2021 revenue is a drop in the bucket of an HCM market that is predicted to reach $47 billion by 2029.3. Align TechnologyThe company best known for its Invisalign clear teeth-straightening system is actually a vertically integrated combination of several businesses. They all help people get straighter teeth faster, and orthodontists and dentists see more clients every year. It also provides scanners and software -- two acquisitions -- that help practitioners develop and communicate a plan for patients.The growth opportunity is tremendous. Management estimates 500 million potential customers in the world with 21 million orthodontic starts each year -- two-thirds of them teens. For context, it shipped 2.55 million aligners last year.Align is the crown jewel in our attempt to grow a million-dollar portfolio. The $33,333.33 invested in it could grow over the next 10 years into $461,000. That's assuming the $12.50 analysts expect this year grows at the midpoint of management's long-term guidance of 20% to 30% a year. Similar to the other two stocks, Align typically trades at a premium. We'll use 50 times earnings, slightly above the bottom of the 40 to 100 historical P/E range. It's an amazing potential return when running the numbers.\"It's tough to make predictions, especially about the future\"That quote from Yankees legend Yogi Berra underscores a key point in the analysis above. No one knows what the world is going to look like in 10 years. Investors with a long-term mindset need to block out the noise without being irresponsible.The Trade Desk, Paycom, and Align have all grown rapidly while turning a profit. I expect that to continue. If the assumptions hold, a $100,000 investment will be worth $1 million in 10 short years.Calculations and chart by author.It's an interesting exercise that relies on the past as a guide. If the performance changes, so can the outcome. That's why it's best to build a diversified portfolio of a lot more than three stocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9015114477,"gmtCreate":1649452127872,"gmtModify":1676534512928,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9015114477","repostId":"2225529120","repostType":4,"repost":{"id":"2225529120","pubTimestamp":1649430186,"share":"https://www.laohu8.com/m/news/2225529120?lang=&edition=full","pubTime":"2022-04-08 23:03","market":"us","language":"en","title":"Is Apple Stock A Buy, Sell, Or Hold?","url":"https://stock-news.laohu8.com/highlight/detail?id=2225529120","media":"seekingalpha","summary":"Apple Inc.  is an ultra-high quality blue-chip company with an excellent brand and growth opportunit","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/AAPL\">Apple Inc. </a> is an ultra-high quality blue-chip company with an excellent brand and growth opportunities in health, automotive vehicle tech, and virtual reality. On the other hand, investors should note that the company&#39;s already very large size will likely prevent Apple from growing at an overly high pace in the coming years. Buybacks will also be less impactful due to an above-average valuation, and total returns could therefore be significantly lower compared to what investors got used to over the last couple of years.</p><h2>AAPL Stock Key Metrics</h2><p>Apple has excellent fundamentals. This includes strong margins, which are the result of a brand that warrants premium prices for Apple&#39;s products. Strong margins naturally mean that the company earns large amounts of money for each product it sells, but margins are also of importance due to a couple of other factors. High margins mean that inflationary pressures do not hurt Apple too much, for example. If margins were to compress by 100 base points due to higher input costs, the hit to Apple&#39;s bottom line would be a pretty small 4%. A competitor with a weaker net profit margin of 10% would see profits take a 10% hit in the same margin compression scenario. In a way, Apple&#39;s strong margins thus reduce risks for shareholders, as the company is able to stomach inflation, recessions, etc. easier compared to peers that are less profitable.</p><p>Apple also has a strong balance sheet and generates excellent cash flows. Per the company&#39;s most recent 10-Q filing, Apple Inc. had $203 billion of cash and equivalents on its balance sheet at the end of the first quarter. This was partially offset by $123 billion of debt, for a net cash position of $80 billion. At the same time, Apple&#39;s free cash flow came in at a gigantic $102 billion over the last four quarters, with capital expenditures of $10 billion already being accounted for. Capital expenditures of $10 billion aren&#39;t high for a company the size of Apple, but that can be attributed to its asset-light business model. Without costly manufacturing equipment, production plants, etc., the company is able to turn most of its operating cash flows into free cash. This naturally benefits shareholders as Apple can finance immense shareholder returns via dividends and buybacks.</p><h2>Apple&#39;s Growth Potential In Different Markets</h2><p>Apple&#39;s biggest business today is its iPhone franchise. That is not a high-growth market, however. Many people around the world have smartphones already, and those that do not own a smartphone generally do not buy a (high-priced) iPhone as their first product, instead opting for lower-priced entry phones. That being said, the iPhone business should still generate some growth through price increases over the years, but that will not be a major growth driver. Apple&#39;s very fast iPhone profits allow the company to invest in other areas, however. On top of that, the iPhone user base is important when it comes to growing revenues in the services segment.</p><p>As iPhone users acquire additional apps and consume more services and media through their phones over time, Apple&#39;s services (Apple Music, iCloud, Apple Pay, and the take from sales in its App Store) will experience growth over time. During the most recent quarter, Apple&#39;s Services revenue hit a new all-time high, with revenue of $19.5 billion, which was up 23% year over year. I expect that the addition of new services over time and the growing usage of existing services will allow Apple to grow its Services revenue meaningfully over the coming years.</p><p>Apple also seeks to expand in other areas. This includes Apple&#39;s Health ventures, as well as the Apple Car project. In both cases, Apple addresses a large market, which means that these projects could eventually move the needle very meaningfully for Apple. At least in the very near term, those will not be relevant growth drivers, however.</p><p>Some projections see the Apple Car project add $50 billion in revenue by 2030. That sounds like quite a lot, but on a relative basis, it&#39;s not that much, to be honest. Apple has generated revenue of $380 billion over the last year, thus the Apple Car business would add around 13% to that. If that were to happen during a single year, that would be outstanding, of course. But if it happens over roughly ten years, then the annualized growth boost is relatively slim, at just 1%-2%. When Apple&#39;s iPhone sales started to soar, the company generated year-over-year revenue growth rates of 50% and more during some quarters. The Apple Car project, even if successful, will not replicate that. The law of large numbers dictates that growing at a high relative growth rate becomes harder the larger a company gets. And with sales in the $380 billion a year area, Apple is very large already, which means that even successful product introductions will almost certainly not allow Apple to deliver another 50%+ revenue gain in the future, ever.</p><p>Still, between growth from its existing businesses and the introduction of new products over time, Apple will continue to deliver reasonable business growth over the years. Analysts are currently predicting a revenue growth rate of 7% a year through the next decade. My personal estimate would be slightly lower, at around 5%, but Apple may very well hit the 7% level -- which would be a strong result for a company this large, even though some of Apple&#39;s owners might be hoping for (way) stronger growth.</p><h2>Will The Metaverse Impact Apple?</h2><p>Apple also has ambitions when it comes to the Metaverse. Those haven&#39;t been broadcasted as widely as those from <a href=\"https://laohu8.com/S/FB\">Meta Platforms</a> (FB), Microsoft (MSFT), etc. But still, Apple seeks to become a major player in this future industry. Apple&#39;s CEO Tim Cook first started publicly speaking about Augmented Reality in 2017, and that&#39;s also when Apple&#39;s ARKit was introduced. There are rumors that Apple might introduce its first AR/VR headset Apple Glass as early as this year, although there are no guarantees for that, of course. Still, it seems pretty clear that Apple&#39;s expansion into this space will continue over the coming years. Apple&#39;s revenue potential is uncertain, however. Whether AR/VR tech will become big enough to move the needle in a big way seems questionable for the next couple of years at least. But even if the Metaverse impact remains relatively small for the foreseeable future, the growth in the businesses laid out above should allow Apple to grow meaningfully going forward.</p><h2>Where Will Apple Stock Be In 10 Years?</h2><p>Business growth opportunities do not necessarily translate into strong equity returns. Cisco (CSCO) grew its business considerably between 2000 and 2010, as revenue rose by close to 100%. And still, Cisco&#39;s shares went down by more than 60% in that time frame, as valuation compression was even more impactful than the business growth the company experienced in that time frame. In Apple&#39;s case, total returns will be stronger, but multiple compression could still be a headwind going forward:</p><p><img src=\"https://static.tigerbbs.com/05d814ce0bd4641eabe68a69249df8f1\" tg-width=\"635\" tg-height=\"467\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p><p>Apple trades at a ~30% premium compared to the 5-year median when we look at its earnings multiple, while the premium compared to the 5-year median is ~50% when we look at Apple&#39;s enterprise value to EBITDA ratio. Clearly, Apple is significantly more expensive than it used to be in the past. When we look at the median valuations over the last ten years, the current premium is even more pronounced.</p><p>If Apple manages to grow its revenue by 7% a year over the next decade, in line with what analysts are expecting, we could see earnings per share growth in the 10% range, once we account for buybacks. Those have slowed down to just 2% over the last year, but let&#39;s still assume that Apple will be able to buy back around 3% of its share count in the future. With 10% annual earnings per share growth, Apple would be a pretty fast-growing enterprise, considering its already very large size. In that scenario, earnings per share could climb from $6.15 in 2022 to around $15.90 in 2032. If Apple were to trade at 22x net profits a decade from now, the share price would be $350. In this scenario, where Apple is trading in line with the 5-year median valuation, Apple would deliver annual share price gains of 7%.</p><p>When we consider that the last five years have been pretty good for equities and that this will not necessarily be the case going forward, <a href=\"https://laohu8.com/S/AONE.U\">one</a> can also make a case for a lower valuation, however. Rising interest rates could definitely result in lower valuations in future years, compared to how Apple and other equities were valued in the recent past. If Apple were to trade at 20x net profits a decade from now, the share price would be $320 in 2032, which would translate into 6% annual share price gains. If the earnings multiple drops to 18, the 2032 share price target is $286, which would result in annual share price gains of 5%. Some investors might believe that a valuation this low is highly unlikely, as AAPL is trading well above that level today. But once we consider that the 10-year median earnings multiple is <i>even lower</i>, at 16, a high-teens earnings multiple does not seem that unlikely after all.</p><p>All in all, we can summarize that Apple&#39;s growth outlook over the coming years is solid thanks to cash cow businesses like the iPhone that allow for growth investments in other areas. Share buybacks should also allow AAPL to grow its earnings per share more quickly compared to the business growth rate. That being said, the share price might not rise that much over the coming decade. Depending on circumstances such as market sentiment, interest rates, etc. a share price in the $280 to $350 range seems realistic, I believe. That would translate into annual share price gains of 5%-7%.</p><h2>Is AAPL Stock A Buy, Sell, Or Hold?</h2><p>Apple is an excellent company, and it has been a great investment in the past. But the fact that Apple has delivered outstanding returns over the last five or ten years does not mean that this will repeat. Shares were cheap a decade ago, and they are trading at a huge premium compared to the historic valuation today. To me, it seems realistic that Apple will deliver mid-to-high single-digits annual returns going forward. That&#39;s far from bad, but I do not believe that this makes Apple a Buy today.</p></body></html>","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>Is Apple Stock A Buy, Sell, Or Hold?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Apple Stock A Buy, Sell, Or Hold?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-08 23:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4500335-apple-stock-10-years><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple Inc.  is an ultra-high quality blue-chip company with an excellent brand and growth opportunities in health, automotive vehicle tech, and virtual reality. On the other hand, investors should ...</p>\n\n<a href=\"https://seekingalpha.com/article/4500335-apple-stock-10-years\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4501":"段永平概念","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4574":"无人驾驶","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念","BK4170":"电脑硬件、储存设备及电脑周边","BK4554":"元宇宙及AR概念","BK4515":"5G概念","BK4532":"文艺复兴科技持仓","BK4553":"喜马拉雅资本持仓","AAPL":"苹果","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念","BK4566":"资本集团"},"source_url":"https://seekingalpha.com/article/4500335-apple-stock-10-years","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2225529120","content_text":"Apple Inc.  is an ultra-high quality blue-chip company with an excellent brand and growth opportunities in health, automotive vehicle tech, and virtual reality. On the other hand, investors should note that the company's already very large size will likely prevent Apple from growing at an overly high pace in the coming years. Buybacks will also be less impactful due to an above-average valuation, and total returns could therefore be significantly lower compared to what investors got used to over the last couple of years.AAPL Stock Key MetricsApple has excellent fundamentals. This includes strong margins, which are the result of a brand that warrants premium prices for Apple's products. Strong margins naturally mean that the company earns large amounts of money for each product it sells, but margins are also of importance due to a couple of other factors. High margins mean that inflationary pressures do not hurt Apple too much, for example. If margins were to compress by 100 base points due to higher input costs, the hit to Apple's bottom line would be a pretty small 4%. A competitor with a weaker net profit margin of 10% would see profits take a 10% hit in the same margin compression scenario. In a way, Apple's strong margins thus reduce risks for shareholders, as the company is able to stomach inflation, recessions, etc. easier compared to peers that are less profitable.Apple also has a strong balance sheet and generates excellent cash flows. Per the company's most recent 10-Q filing, Apple Inc. had $203 billion of cash and equivalents on its balance sheet at the end of the first quarter. This was partially offset by $123 billion of debt, for a net cash position of $80 billion. At the same time, Apple's free cash flow came in at a gigantic $102 billion over the last four quarters, with capital expenditures of $10 billion already being accounted for. Capital expenditures of $10 billion aren't high for a company the size of Apple, but that can be attributed to its asset-light business model. Without costly manufacturing equipment, production plants, etc., the company is able to turn most of its operating cash flows into free cash. This naturally benefits shareholders as Apple can finance immense shareholder returns via dividends and buybacks.Apple's Growth Potential In Different MarketsApple's biggest business today is its iPhone franchise. That is not a high-growth market, however. Many people around the world have smartphones already, and those that do not own a smartphone generally do not buy a (high-priced) iPhone as their first product, instead opting for lower-priced entry phones. That being said, the iPhone business should still generate some growth through price increases over the years, but that will not be a major growth driver. Apple's very fast iPhone profits allow the company to invest in other areas, however. On top of that, the iPhone user base is important when it comes to growing revenues in the services segment.As iPhone users acquire additional apps and consume more services and media through their phones over time, Apple's services (Apple Music, iCloud, Apple Pay, and the take from sales in its App Store) will experience growth over time. During the most recent quarter, Apple's Services revenue hit a new all-time high, with revenue of $19.5 billion, which was up 23% year over year. I expect that the addition of new services over time and the growing usage of existing services will allow Apple to grow its Services revenue meaningfully over the coming years.Apple also seeks to expand in other areas. This includes Apple's Health ventures, as well as the Apple Car project. In both cases, Apple addresses a large market, which means that these projects could eventually move the needle very meaningfully for Apple. At least in the very near term, those will not be relevant growth drivers, however.Some projections see the Apple Car project add $50 billion in revenue by 2030. That sounds like quite a lot, but on a relative basis, it's not that much, to be honest. Apple has generated revenue of $380 billion over the last year, thus the Apple Car business would add around 13% to that. If that were to happen during a single year, that would be outstanding, of course. But if it happens over roughly ten years, then the annualized growth boost is relatively slim, at just 1%-2%. When Apple's iPhone sales started to soar, the company generated year-over-year revenue growth rates of 50% and more during some quarters. The Apple Car project, even if successful, will not replicate that. The law of large numbers dictates that growing at a high relative growth rate becomes harder the larger a company gets. And with sales in the $380 billion a year area, Apple is very large already, which means that even successful product introductions will almost certainly not allow Apple to deliver another 50%+ revenue gain in the future, ever.Still, between growth from its existing businesses and the introduction of new products over time, Apple will continue to deliver reasonable business growth over the years. Analysts are currently predicting a revenue growth rate of 7% a year through the next decade. My personal estimate would be slightly lower, at around 5%, but Apple may very well hit the 7% level -- which would be a strong result for a company this large, even though some of Apple's owners might be hoping for (way) stronger growth.Will The Metaverse Impact Apple?Apple also has ambitions when it comes to the Metaverse. Those haven't been broadcasted as widely as those from Meta Platforms (FB), Microsoft (MSFT), etc. But still, Apple seeks to become a major player in this future industry. Apple's CEO Tim Cook first started publicly speaking about Augmented Reality in 2017, and that's also when Apple's ARKit was introduced. There are rumors that Apple might introduce its first AR/VR headset Apple Glass as early as this year, although there are no guarantees for that, of course. Still, it seems pretty clear that Apple's expansion into this space will continue over the coming years. Apple's revenue potential is uncertain, however. Whether AR/VR tech will become big enough to move the needle in a big way seems questionable for the next couple of years at least. But even if the Metaverse impact remains relatively small for the foreseeable future, the growth in the businesses laid out above should allow Apple to grow meaningfully going forward.Where Will Apple Stock Be In 10 Years?Business growth opportunities do not necessarily translate into strong equity returns. Cisco (CSCO) grew its business considerably between 2000 and 2010, as revenue rose by close to 100%. And still, Cisco's shares went down by more than 60% in that time frame, as valuation compression was even more impactful than the business growth the company experienced in that time frame. In Apple's case, total returns will be stronger, but multiple compression could still be a headwind going forward:Data by YChartsApple trades at a ~30% premium compared to the 5-year median when we look at its earnings multiple, while the premium compared to the 5-year median is ~50% when we look at Apple's enterprise value to EBITDA ratio. Clearly, Apple is significantly more expensive than it used to be in the past. When we look at the median valuations over the last ten years, the current premium is even more pronounced.If Apple manages to grow its revenue by 7% a year over the next decade, in line with what analysts are expecting, we could see earnings per share growth in the 10% range, once we account for buybacks. Those have slowed down to just 2% over the last year, but let's still assume that Apple will be able to buy back around 3% of its share count in the future. With 10% annual earnings per share growth, Apple would be a pretty fast-growing enterprise, considering its already very large size. In that scenario, earnings per share could climb from $6.15 in 2022 to around $15.90 in 2032. If Apple were to trade at 22x net profits a decade from now, the share price would be $350. In this scenario, where Apple is trading in line with the 5-year median valuation, Apple would deliver annual share price gains of 7%.When we consider that the last five years have been pretty good for equities and that this will not necessarily be the case going forward, one can also make a case for a lower valuation, however. Rising interest rates could definitely result in lower valuations in future years, compared to how Apple and other equities were valued in the recent past. If Apple were to trade at 20x net profits a decade from now, the share price would be $320 in 2032, which would translate into 6% annual share price gains. If the earnings multiple drops to 18, the 2032 share price target is $286, which would result in annual share price gains of 5%. Some investors might believe that a valuation this low is highly unlikely, as AAPL is trading well above that level today. But once we consider that the 10-year median earnings multiple is even lower, at 16, a high-teens earnings multiple does not seem that unlikely after all.All in all, we can summarize that Apple's growth outlook over the coming years is solid thanks to cash cow businesses like the iPhone that allow for growth investments in other areas. Share buybacks should also allow AAPL to grow its earnings per share more quickly compared to the business growth rate. That being said, the share price might not rise that much over the coming decade. Depending on circumstances such as market sentiment, interest rates, etc. a share price in the $280 to $350 range seems realistic, I believe. That would translate into annual share price gains of 5%-7%.Is AAPL Stock A Buy, Sell, Or Hold?Apple is an excellent company, and it has been a great investment in the past. But the fact that Apple has delivered outstanding returns over the last five or ten years does not mean that this will repeat. Shares were cheap a decade ago, and they are trading at a huge premium compared to the historic valuation today. To me, it seems realistic that Apple will deliver mid-to-high single-digits annual returns going forward. That's far from bad, but I do not believe that this makes Apple a Buy today.","news_type":1},"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9012689516,"gmtCreate":1649324101938,"gmtModify":1676534491605,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9012689516","repostId":"2225506552","repostType":4,"repost":{"id":"2225506552","pubTimestamp":1649321523,"share":"https://www.laohu8.com/m/news/2225506552?lang=&edition=full","pubTime":"2022-04-07 16:52","market":"us","language":"en","title":"This Growth Stock Could 10X in 10 Years","url":"https://stock-news.laohu8.com/highlight/detail?id=2225506552","media":"Motley Fool","summary":"The booming demand for this company's products could send the stock flying.","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/MU\">Micron Technology</a> has turned out to be a terrific investment over the past decade, with shares of the memory specialist crushing the broader market&#39;s returns by a huge margin.</p><p>A $1,000 investment in Micron stock a decade ago would be currently worth just over $10,000.</p><p>Micron stock could repeat its outstanding run over the next decade, or do better, as the demand for memory chips that it sells will get stronger. Let&#39;s look at the reasons why Micron Technology stock could 10x once again in the next 10 years.</p><h2>Micron will benefit from the memory market&#39;s secular growth</h2><p>The dynamic random access memory (DRAM) market generated $24.6 billion in revenue back in 2012, according to memory market intelligence provider DRAMeXchange. By the end of 2022, global DRAM revenue is expected to hit nearly $92 billion. This substantial increase in DRAM industry revenue over the past decade has been driven by an increase in the need for computing power.</p><p>For instance, the average DRAM content in each smartphone was 666 megabytes (MB) back in 2012, a figure that increased eightfold by the end of 2021 to 5.3 gigabytes (GB). Additionally, the deployment of hyperscale data centers that require high data transfer speeds and the increase in the DRAM capacity of computers and laptops has been driving this industry&#39;s terrific growth.</p><p>The good news for Micron investors is that the DRAM market will keep expanding in the long run. Mordor Intelligence estimates that global DRAM revenue could exceed $100 billion by 2026, though it won&#39;t be surprising to see the market grow at a faster pace for a few simple reasons.</p><p>First, the smartphone market is going to be a big catalyst for DRAM sales in the coming years. That&#39;s because 5G smartphones are using 50% more DRAM as compared to 4G devices. With the 5G smartphone market expected to clock a compound annual growth rate (CAGR) of nearly 125% through 2025, the need for mobile DRAM is going to increase rapidly.</p><p>Second, graphics cards that are now used in several applications ranging from personal computers to gaming consoles to data centers and even self-driving cars also use DRAM. Now, the global graphics card market is expected to grow at an annual rate of 33% through 2027, so this is another area that would create the need for more memory chips.</p><p>Meanwhile, there are emerging memory technologies on the horizon to support the need for faster computing. The market for such next-generation memory chips could exceed $30 billion in revenue by 2030, growing at an annual rate of nearly 28% through the forecast period. All of this indicates that Micron&#39;s addressable revenue opportunity in the DRAM market is set to increase in the long run. This bodes well for the company as it gets 73% of its revenue from this space.</p><p>On the other hand, the NAND flash market that supplies a quarter of Micron&#39;s revenue is also expanding rapidly thanks to the growing need for storage in data centers, smartphones, and computers. By 2027, the NAND flash market is expected to reach $94 billion in revenue as compared to $66 billion last year.</p><p>More importantly, Micron is in a nice position to generate incremental long-term revenue thanks to the expansion of its end markets. That&#39;s because the company held a 22% share of the DRAM market last year, and the good part is that it has been gaining ground over rivals. The company could steal a march over rivals in the NAND flash market as well thanks to its latest product development move. Micron has started the mass production of the industry&#39;s first 176-layer NAND data center solid-state drive that&#39;s currently being evaluated by several hyperscale and data center customers.</p><p>As such, it won&#39;t be surprising to see Micron corner a bigger share of the NAND flash market, compared to just over 10% last year.</p><h2>Solid earnings growth could send the stock soaring</h2><p>Micron Technology has been benefiting big time from the strength of the memory market in recent years, as evident from the chart below.</p><p><img src=\"https://static.tigerbbs.com/e597a9d024e0301b1e2417336899c54d\" tg-width=\"720\" tg-height=\"466\" referrerpolicy=\"no-referrer\"/>MU Revenue (TTM) data by YCharts</p><p>The chipmaker released its fiscal 2022 second-quarter results on March 29 and revealed a 25% year-over-year increase in revenue to $7.79 billion. Adjusted earnings shot up 118% over the prior-year period to $2.14 per share. The company easily crushed Wall Street&#39;s expectations and issued healthy guidance, which indicates that its momentum is here to stay.</p><p>The potential growth of Micron&#39;s end market could help it maintain its impressive pace of growth. Not surprisingly, analysts expect its earnings to increase at a 30% compound annual growth rate over the next five years, which is nearly identical to the annual growth it has seen in the past five years.</p><p>If Micron could sustain a 30% annual earnings growth rate for the next 10 years thanks to booming memory demand, its earnings could hit $83 per share after a decade as compared to $6.06 per share last year. Multiplying the estimated EPS figure with Micron&#39;s five-year average forward earnings multiple of 10 points toward a stock price of $830 after 10 years, indicating that Micron stock has the potential to grow 10 times over its closing price of $77 on April 4.</p><p>And, with Micron trading at just 9.5 times trailing earnings as compared to its five-year average multiple of 15, investors are getting a great deal on this growth stock right now that they may not want to miss.</p></body></html>","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>This Growth Stock Could 10X in 10 Years</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis Growth Stock Could 10X in 10 Years\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-07 16:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/04/06/this-growth-stock-could-10x-in-10-years/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Micron Technology has turned out to be a terrific investment over the past decade, with shares of the memory specialist crushing the broader market's returns by a huge margin.A $1,000 investment in ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/04/06/this-growth-stock-could-10x-in-10-years/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4575":"芯片概念","BK4141":"半导体产品","BK4566":"资本集团","BK4106":"数据处理与外包服务","BK4099":"汽车制造商","BK4532":"文艺复兴科技持仓","BK4512":"苹果概念","BK4554":"元宇宙及AR概念","BK4553":"喜马拉雅资本持仓","BK4523":"印度概念","MU":"美光科技","BK4527":"明星科技股","BK4579":"人工智能","BK4533":"AQR资本管理(全球第二大对冲基金)"},"source_url":"https://www.fool.com/investing/2022/04/06/this-growth-stock-could-10x-in-10-years/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2225506552","content_text":"Micron Technology has turned out to be a terrific investment over the past decade, with shares of the memory specialist crushing the broader market's returns by a huge margin.A $1,000 investment in Micron stock a decade ago would be currently worth just over $10,000.Micron stock could repeat its outstanding run over the next decade, or do better, as the demand for memory chips that it sells will get stronger. Let's look at the reasons why Micron Technology stock could 10x once again in the next 10 years.Micron will benefit from the memory market's secular growthThe dynamic random access memory (DRAM) market generated $24.6 billion in revenue back in 2012, according to memory market intelligence provider DRAMeXchange. By the end of 2022, global DRAM revenue is expected to hit nearly $92 billion. This substantial increase in DRAM industry revenue over the past decade has been driven by an increase in the need for computing power.For instance, the average DRAM content in each smartphone was 666 megabytes (MB) back in 2012, a figure that increased eightfold by the end of 2021 to 5.3 gigabytes (GB). Additionally, the deployment of hyperscale data centers that require high data transfer speeds and the increase in the DRAM capacity of computers and laptops has been driving this industry's terrific growth.The good news for Micron investors is that the DRAM market will keep expanding in the long run. Mordor Intelligence estimates that global DRAM revenue could exceed $100 billion by 2026, though it won't be surprising to see the market grow at a faster pace for a few simple reasons.First, the smartphone market is going to be a big catalyst for DRAM sales in the coming years. That's because 5G smartphones are using 50% more DRAM as compared to 4G devices. With the 5G smartphone market expected to clock a compound annual growth rate (CAGR) of nearly 125% through 2025, the need for mobile DRAM is going to increase rapidly.Second, graphics cards that are now used in several applications ranging from personal computers to gaming consoles to data centers and even self-driving cars also use DRAM. Now, the global graphics card market is expected to grow at an annual rate of 33% through 2027, so this is another area that would create the need for more memory chips.Meanwhile, there are emerging memory technologies on the horizon to support the need for faster computing. The market for such next-generation memory chips could exceed $30 billion in revenue by 2030, growing at an annual rate of nearly 28% through the forecast period. All of this indicates that Micron's addressable revenue opportunity in the DRAM market is set to increase in the long run. This bodes well for the company as it gets 73% of its revenue from this space.On the other hand, the NAND flash market that supplies a quarter of Micron's revenue is also expanding rapidly thanks to the growing need for storage in data centers, smartphones, and computers. By 2027, the NAND flash market is expected to reach $94 billion in revenue as compared to $66 billion last year.More importantly, Micron is in a nice position to generate incremental long-term revenue thanks to the expansion of its end markets. That's because the company held a 22% share of the DRAM market last year, and the good part is that it has been gaining ground over rivals. The company could steal a march over rivals in the NAND flash market as well thanks to its latest product development move. Micron has started the mass production of the industry's first 176-layer NAND data center solid-state drive that's currently being evaluated by several hyperscale and data center customers.As such, it won't be surprising to see Micron corner a bigger share of the NAND flash market, compared to just over 10% last year.Solid earnings growth could send the stock soaringMicron Technology has been benefiting big time from the strength of the memory market in recent years, as evident from the chart below.MU Revenue (TTM) data by YChartsThe chipmaker released its fiscal 2022 second-quarter results on March 29 and revealed a 25% year-over-year increase in revenue to $7.79 billion. Adjusted earnings shot up 118% over the prior-year period to $2.14 per share. The company easily crushed Wall Street's expectations and issued healthy guidance, which indicates that its momentum is here to stay.The potential growth of Micron's end market could help it maintain its impressive pace of growth. Not surprisingly, analysts expect its earnings to increase at a 30% compound annual growth rate over the next five years, which is nearly identical to the annual growth it has seen in the past five years.If Micron could sustain a 30% annual earnings growth rate for the next 10 years thanks to booming memory demand, its earnings could hit $83 per share after a decade as compared to $6.06 per share last year. Multiplying the estimated EPS figure with Micron's five-year average forward earnings multiple of 10 points toward a stock price of $830 after 10 years, indicating that Micron stock has the potential to grow 10 times over its closing price of $77 on April 4.And, with Micron trading at just 9.5 times trailing earnings as compared to its five-year average multiple of 15, investors are getting a great deal on this growth stock right now that they may not want to miss.","news_type":1},"isVote":1,"tweetType":1,"viewCount":99,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9016763050,"gmtCreate":1649240429627,"gmtModify":1676534475761,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9016763050","repostId":"1105362577","repostType":4,"repost":{"id":"1105362577","pubTimestamp":1649214112,"share":"https://www.laohu8.com/m/news/1105362577?lang=&edition=full","pubTime":"2022-04-06 11:01","market":"us","language":"en","title":"2 Stocks Under $10 That This Insider Is Aggressively Buying","url":"https://stock-news.laohu8.com/highlight/detail?id=1105362577","media":"TipRanks","summary":"From an investment standpoint, the first quarter of 2022 brought confusion more than anything else, ","content":"<div>\n<p>From an investment standpoint, the first quarter of 2022 brought confusion more than anything else, markets fell down and bounced back up. The main question to answer right now is whether the bounce ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/2-stocks-under-10-that-this-insider-is-aggressively-buying/\">Web Link</a>\n\n</div>\n","source":"lsy1606183248679","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 Stocks Under $10 That This Insider Is Aggressively Buying</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 Stocks Under $10 That This Insider Is Aggressively Buying\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-06 11:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.tipranks.com/news/article/2-stocks-under-10-that-this-insider-is-aggressively-buying/><strong>TipRanks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>From an investment standpoint, the first quarter of 2022 brought confusion more than anything else, markets fell down and bounced back up. The main question to answer right now is whether the bounce ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/2-stocks-under-10-that-this-insider-is-aggressively-buying/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CUE":"Cue Biopharma, Inc.","TFFP":"TFF Pharmaceuticals"},"source_url":"https://www.tipranks.com/news/article/2-stocks-under-10-that-this-insider-is-aggressively-buying/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105362577","content_text":"From an investment standpoint, the first quarter of 2022 brought confusion more than anything else, markets fell down and bounced back up. The main question to answer right now is whether the bounce is real or just a dead cat. Either way, however, there are going to be opportunities for investors.As for choosing stocks to buy into, investors will need some clear signal. One popular sign to follow: the corporate insiders. These company officers can leverage their positions with their companies to gain advantages in trading stock – after all, they have an ‘inside’ view of the company workings, putting them in a better position to predict share movements. To keep the field level, the Federal regulators require that they regularly publish their trades; the TipRanksInsiders’ Hot Stockstool makes it possible to quickly find and track those trades.And now we come to something unique. There are thousands of companies on the open market, and hundreds in any given niche – but only a limited pool of qualified people to fill the top positions. It’s not uncommon to find one individual wearing multiple hats, with seats on two or more Boards of Directors of public companies. And when such a person starts going big on his trades – to the tune of several million dollars for each – that could be the song that investors want to hear.Against this backdrop, we’ve used the database at TipRanks to pinpoint two stocks that should spark investor interest. They both trade for under $10 a piece, providing a low entry point with the prospect of at least 100% growth ahead, according to the analyst community. And even better, they shared officer who’s gone big on both. Let’s take a closer look.Cue BiopharmaThe first stock we’ll look at, Cue Biopharma, is developing a pipeline of new immunotherapy treatments. The company is working on a new class of biologic medications, to be delivered by injection, that will engage and modulate targeted T cells. T cell therapy has numerous applications, including the treatment of cancers, autoimmune disorders, and some infectious diseases. Cue’s products are the results of work with two proprietary platforms, Immuno-STAT and Neo-STAT; the company also has important partnerships with larger pharmaceutical firms.Cue’s partnerships brought in ~$8.2 million in revenue during the recently reported 4Q21. This was well above the ~$3 million expected, almost 3x higher than the $2.7 million reported in the previous quarter, and far more than the $475,000 in the year-ago quarter. The company’s partnership program is clearly taking off.Looking at clinical trials, the ‘main event’ for research-oriented biopharmas, Cue’s main drug candidate, CUE-101, has entered Phase 1 testing. The company has multiple clinical studies underway for CUE-101, both in the treatment of HPV-positive recurrent or metastatic head and neck squamous cell carcinoma. One trial is testing -101 as a monotherapy, and the other in combination with Keytruda. The trials began in September 2019 and February 2021, and data on both is expected later this year.On the insider front, we find that Aaron G.L. Fletcher, of the company Board, has swung the needle sharply positive on Cue, with a recent informative buy. He spent $3.498 million buying 735,000 shares of CUE stock, and now holds a stake in the company worth $4.989 million.JMP analyst Reni Benjamin is also bullish on this stock, and lays out a clear case for buying in, as the potential gains clearly outweigh the risks: “With early signs of clinical benefit from the dose-expansion study of CUE-101, including an ongoing PR, a combination trial with pembro showcasing tumor regressions, a versatile platform to address multiple targets in oncology and autoimmune disease, and a solid cash position, we believe Cue represents a unique investment opportunity whose shares are attractively priced.”To this end, Benjamin sets an Outperform (i.e. Buy) rating on CUE, and his $15 price target implies an upside of ~161% for the coming year.Benjamin isn’t the only bull here. The Street has given Cue a total of 7 positive reviews recently, for a unanimous Strong Buy consensus rating. Shares are priced at just $5.75 and their $24.17 average target indicates potential for 320% upside over the next 12 months.TFF PharmaceuticalsThe second stock we’ll look at is TFF Pharmaceuticals. This company gets its name from the technology behind its research program – Thin Film Freezing. The company is using this tech to create safe, precisely-dosed dry powder versions of pharmaceutical agents, for use with inhaler delivery systems. The company is developing the system to counter known drawbacks to traditional delivery systems, such as pills; the TFF offers potential for higher efficacy and lower adverse events.TFF has two main clinical programs in the pipeline. VORI, or voriconazole, is a new inhaler-based treatment for IPA, or Invasive Pulmonary Aspergillosis. This is a deadly fungal lung disease, with mortality rates of 90% or worse. The company has used the TFF platform to create a dry powder inhaler version of the anti-fungal drug voriconazole, which is now in Phase 2 study. The new delivery of an established drug has already demonstrated reduced side effects, and greater efficacy than other treatments.The second main clinical program, also in Phase 2, is TFF-TAC. This is another new dry powder inhalant of an established drug – this time of tacrolimus, an anti-rejection drug used on organ transplant patients. TFF’s inhalant version of this drug is designed to circumvent known problems of toxicity when tacrolimus is used in high doses. Interim data on both of these studies is expected in the second half of this year.In addition to these two clinical trials, TFF has also been working to expand its footprint and ramp up operations. The company at the beginning of March announced a partnership with the pharma manufacturer Catalent, in a move to increase production of TFF’s products.In a second major announcement, also in March, TFF revealed that it had entered into a Cooperative Research and Development Agreement (CRADA) for the development of dry powder inhalant medications that could deliver countermeasures to biological warfare agents. The program will be carried out in conjunction with the U.S. Army Medical Research Institute of Infectious Diseases (USAMRIID).And now we get to the insider buy here. Aaron Fletcher, referred to above, is a member of TFF’s board, too, and purchased 542,000 shares this week. He spent $3.5 million on the buy, and now controls stock in TFFP worth a total of $4.468 million.Also bullish here is analyst Michael Okunewitch, of investment firm Maxim Group. He believes that this stock presents a definite opening for investors, writing: “The TFF platform continues to be validated, in our view, through additional government and big pharma partnerships. With interim data approaching in 2H22 that could enable partnering discussions for TAC and VORI, as well as a growing pipeline of partnered programs, we view the company, at a market cap of <$165 million, as undervalued.”These comments back up his Buy rating on the stock, and his price target of $14 implies a 12-month upside of 100%.Overall, TFF shares get a unanimous thumbs up, with 3 Buys backing the stock’s Strong Buy consensus rating. Shares sell for $7, and the average price target of $19.67 suggests an upside potential of 181%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":255,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9011792493,"gmtCreate":1648932411770,"gmtModify":1676534422408,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9011792493","repostId":"1164394533","repostType":4,"repost":{"id":"1164394533","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1648917046,"share":"https://www.laohu8.com/m/news/1164394533?lang=&edition=full","pubTime":"2022-04-03 00:30","market":"us","language":"en","title":"Tesla Delivers 310,048 Electric Vehicles in the First Quarter","url":"https://stock-news.laohu8.com/highlight/detail?id=1164394533","media":"Tiger Newspress","summary":"$Tesla$ just reported first-quarter vehicle production and delivery numbers for 2022.Here’s how they did.Electric vehicle deliveries : 310,048Electric vehicle production : 305,407Over the same period last year, Tesla delivered 184,800 electric vehicles and produced 180,338 cars.Tesla said it sold a total of 295,324 Model 3 sedans and Model Y sport utility vehicles, while it delivered 14,724 Model S luxury sedans and Model X premium SUVs.The company recently opened a new factory in Brandenburg, G","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a> just reported first-quarter vehicle production and delivery numbers for 2022.</p><p>Here’s how they did.</p><p><b>Electric vehicle deliveries (total): 310,048</b></p><p><b>Electric vehicle production (total): 305,407</b></p><p>Over the same period last year, Tesla delivered 184,800 electric vehicles and produced 180,338 cars.</p><p>Tesla said it sold a total of 295,324 Model 3 sedans and Model Y sport utility vehicles, while it delivered 14,724 Model S luxury sedans and Model X premium SUVs.</p><p>The company recently opened a new factory in Brandenburg, Germany, and had a ribbon-cutting ceremony on March 22. Tesla also plans to host a grand opening and “cyber rodeo” event on April 7, at another new vehicle assembly plant it’s building in Austin, Texas.</p><p>Tesla moved its headquarters to Austin officially as of Dec. 1, but still operates its first electric car factory in Fremont, California.</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>Tesla Delivers 310,048 Electric Vehicles in the First Quarter</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Delivers 310,048 Electric Vehicles in the First Quarter\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-04-03 00:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a> just reported first-quarter vehicle production and delivery numbers for 2022.</p><p>Here’s how they did.</p><p><b>Electric vehicle deliveries (total): 310,048</b></p><p><b>Electric vehicle production (total): 305,407</b></p><p>Over the same period last year, Tesla delivered 184,800 electric vehicles and produced 180,338 cars.</p><p>Tesla said it sold a total of 295,324 Model 3 sedans and Model Y sport utility vehicles, while it delivered 14,724 Model S luxury sedans and Model X premium SUVs.</p><p>The company recently opened a new factory in Brandenburg, Germany, and had a ribbon-cutting ceremony on March 22. Tesla also plans to host a grand opening and “cyber rodeo” event on April 7, at another new vehicle assembly plant it’s building in Austin, Texas.</p><p>Tesla moved its headquarters to Austin officially as of Dec. 1, but still operates its first electric car factory in Fremont, California.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164394533","content_text":"Tesla just reported first-quarter vehicle production and delivery numbers for 2022.Here’s how they did.Electric vehicle deliveries (total): 310,048Electric vehicle production (total): 305,407Over the same period last year, Tesla delivered 184,800 electric vehicles and produced 180,338 cars.Tesla said it sold a total of 295,324 Model 3 sedans and Model Y sport utility vehicles, while it delivered 14,724 Model S luxury sedans and Model X premium SUVs.The company recently opened a new factory in Brandenburg, Germany, and had a ribbon-cutting ceremony on March 22. Tesla also plans to host a grand opening and “cyber rodeo” event on April 7, at another new vehicle assembly plant it’s building in Austin, Texas.Tesla moved its headquarters to Austin officially as of Dec. 1, but still operates its first electric car factory in Fremont, California.","news_type":1},"isVote":1,"tweetType":1,"viewCount":263,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":162847659,"gmtCreate":1624059021471,"gmtModify":1703827690614,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Comment and like please :)","listText":"Comment and like please :)","text":"Comment and like please :)","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/162847659","repostId":"1168762020","repostType":2,"repost":{"id":"1168762020","pubTimestamp":1623988654,"share":"https://www.laohu8.com/m/news/1168762020?lang=&edition=full","pubTime":"2021-06-18 11:57","market":"us","language":"en","title":"ASML: The Market Could Be Underestimating Its Potential","url":"https://stock-news.laohu8.com/highlight/detail?id=1168762020","media":"seekingalpha","summary":"Summary\n\nThe Semiconductor sector is forecasted to grow at a CAGR of 8.6% through 2028.\nDUV lithogra","content":"<p><b>Summary</b></p>\n<ul>\n <li>The Semiconductor sector is forecasted to grow at a CAGR of 8.6% through 2028.</li>\n <li>DUV lithography is forecasted to grow at a CAGR of 8.4% through 2025 with EUV lithography forecasted to grow at a CAGR of 12% through 2027.</li>\n <li>ASML holds a monopoly within EUV and faces very limited competition within DUV, both platforms absolutely vital for the semiconductor manufacturing process.</li>\n <li>A true innovator, ASML commands an outstanding position and growth outlook but the stock market has long since recognized the potential.</li>\n <li>Existing shareholders do well for themselves in just enjoying the ride, but there is little margin of safety left for prospective shareholders who might dip their toes into the water through dollar-cost averaging to benefit from the strong tailwinds powering ASML.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/44b5f81c309842f14fe1adffe3d6c9ca\" tg-width=\"768\" tg-height=\"432\"><span>MACRO PHOTO/iStock via Getty ImagesInvestment Thesis</span></p>\n<p>ASML Holding (ASML) commands a market position like no one else with not a competitor in sight for its most advanced technological platform, EUV lithography. Similarly, it faces very limited competition within DUV, both platforms vital for semiconductor manufacturing. The household names within the semiconductor industry belong to the manufacturers, but the machinery providers, such as ASML, command very strong moats through extensive technological knowledge and strong process knowledge leaving all potential competitors years behind if they should ever try to compete.</p>\n<p>It's hard to think of a better competitive situation, especially when operating in a sector forecasted to grow well above general GDP for many years to come. However, the market has long since recognized ASML's outstanding potential and potential journey, but still, it could be underestimating the potential.</p>\n<p><b>Introduction</b></p>\n<p>I recently wrote an article concerning how youcan’t own too much semiconductor exposure. Having decomposed the value chain for semiconductor manufacturing, I received a number of questions concerning ASML in the comment sections and decided to conduct this follow-up. I’ve selected ASML due to its unique marketplace position and potential.</p>\n<p>Personally I have exposure to the manufacturing level of the semiconductor value chain through shares in both Texas Instruments Incorporated (TXN) and Broadcom Inc. (AVGO), but venturing further back into the value chain, and investors can be allowed to invest in a broader manner into the industry, as the suppliers of machinery and software obtain a broader exposure to most of the manufacturers making it immensely interesting as you can adopt the mantra of “I don’t really mind who wins, as long as they are racing”. As such, potential exposure upstream in the value chain carries great interest.</p>\n<p><b>The Marketplace and Value Drivers For Years To Come</b></p>\n<p>For ASML followers it’s no surprise at this point, but ASML is dominant within the product offering that will drive its revenue for the coming decade, EUV (Extreme ultraviolet lithography) technology. My personal take is that it is hard to find a company in a similarly advantageous competitive position anywhere in any industry. ASML provides equipment for lithography, the art of printing the chip features via light sources, in several light spectrums with its most advanced being EUV which is the next-gen to DUV (deep ultraviolet lithography). For DUV there are competitors albeit ASML has a massive market share above 85%. The difference between DUV and EUV is that EUV operates at a light wavelength almost 15 times smaller than DUV (13.5nm compared to 193nm).</p>\n<p>Actually, the semiconductor manufacturers for the leading edge chips such as 5nm and soon to be 3nm are deeply dependent on the EUV machinery. Without it, it simply wouldn’t be possible. That sounds like a pretty good bargain for those who can manufacture these machines, but there is only one company that is able to do it, and that is ASML. For every generation of new EUV machinery, its yield becomes better with higher throughput and reduced downtime issues, meaning that ASML is effectively lightyears ahead of anyone who would try to pick up the gauntlet and challenge their dominant position.</p>\n<p>This is an industry where everything is about process knowledge. Taiwan Semiconductor (TSM) is able to produce 5nm chips because it was able to produce 7nm, and it will be able to produce 3nm because it can produce 5nm and has done that a million times over which is also why it was so detrimental to Intel Corp (INTC) that it had to acknowledge its persistent issues with the 7nm technology.</p>\n<p>Quite simply, there is no 3nm if you can’t do the 5nm, as also discussed in my previous article. Same goes for ASML as a competitor would be years and years behind ASML if they entered the EUV space as they would struggle with the same issues that have plagued ASML in its early days of EUV more than a decade ago. I’ve included a number of illustrations from their most recent investor day which took place in November 2018, with the next one to take place in September 2021.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/edaa6b5a77f99726bbae61b032b9c208\" tg-width=\"640\" tg-height=\"359\"><span>ASML Investor Day 2018, EUV Products and Business Opportunity, p. 6.</span></p>\n<p>The picture above clearly illustrates the process knowledge having been picked up by ASML throughout its EUV lifetime. This has also translated into better EUV machinery for each new generation as also evident by its productivity improvements. Again, I can’t imagine a more favourable competitive situation for a company, given how much time and capital it would require for a competitor to adopt the EUV technology.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/85913766aea721e218e976e4f73349e5\" tg-width=\"640\" tg-height=\"362\"><span>ASML Investor Day 2018, EUV Products and Business Opportunity, p. 16.</span></p>\n<p>Semiconductor manufacturing is a cutthroat business with heavy R&amp;D spend (it took ASML €6 billion in R&amp;D spend to invent EUV) driving chip improvements according to Moore’s law, meaning that ASML is already working on the next-gen technology, referred to as High NA-EUV. High NA-EUV is still some time away, with the timeline below being slightly outdated, but its technology will significantly improve the EUV platform and power the industry beyond this decade. It takes time to develop the technology, improve yield and reduce downtime, but there is still plenty of opportunities for EUV in terms of marketplace expansion and margin improvement.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7709f0f76b1619a31b32fc3330134005\" tg-width=\"640\" tg-height=\"361\"><span>ASML Investor Day 2018, EUV Products and Business Opportunity, p. 21.</span></p>\n<p>ASML itself has laid out the expected path in terms of optimised margins through both add-ons facing the buyer side and upstream cost reductions facing their suppliers creating a sweet spot for the company effectively striving to achieve the same profitability profile as for its more mature DUV platform.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/809661531ad423f613fb44c26e0b3352\" tg-width=\"640\" tg-height=\"353\"><span>ASML Investor Day 2018, EUV Products and Business Opportunity, p. 25.</span></p>\n<p>If that wasn’t good enough, then add the fact that the semiconductor industry in general is expected to outpace general GDP for at least until 2028 with a CAGR of 8.6%. Recentcommunicationsby Taiwan Semiconductor, Intel and Samsung Electronics Company (OTC:SSNLF) shows the strength and growth potential for the sector with their combined CAPEX expectations going beyond $200 billion for the coming decade, with a significant chunk of that within the coming years.</p>\n<p>As can be seen in the illustration above, ASML expects increased customer value through upgrades, with their roadmap for DUV serving as an example in terms of how the revenue base could expand over the coming years for EUV as is the case for DUV via what the company has labelled installed base management.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8ef7940a4b888c50159e5b9db4c0634\" tg-width=\"640\" tg-height=\"362\"><span>ASML Investor Day 2018, DUV Products and Business Opportunity, p. 10.</span></p>\n<p>There is of course always the possibility of a serious contender entering the marketplace in order to try and challenge ASML, but companies have tried to enter the space when the technology was in its infancy having given up, meaning the prime threat would be the emergence of a new lithography technology arriving and doing to EUV what EUV did to DUV. Possible sure, likely, not so much. Just to hammer down the point, I’ve inserted a paragraph from ASML’s own description of how lithography plays its role.</p>\n<blockquote>\n “\n <i>Lithography is a driving force in the creation of more powerful, faster and cheaper chips. The manufacturing of chips becomes increasingly complex as semiconductor feature sizes shrink, while the imperative to mass produce at the right cost remains. Our holistic lithography product portfolio helps to optimize production and enable affordable shrink by integrating lithography systems with computational modeling, as well as metrology and inspection solutions. A lithography system is essentially a projection system. Light is projected through a blueprint of the pattern that will be printed (known as a ‘mask’ or ‘reticle’). With the pattern encoded in the light, the system’s optics shrink and focus the pattern onto a photosensitive silicon wafer. After the pattern is printed, the system moves the wafer slightly and makes another copy on the wafer. This process is repeated until the wafer is covered in patterns, completing one layer of the wafer’s chips. To make an entire microchip, this process is repeated layer after layer, stacking the patterns to create an integrated circuit (IC). The simplest chips have around 10 layers, while the most complex can have over 150 layers. The size of the features to be printed varies depending on the layer, which means that different types of lithography systems are used for different layers – our latest-generation EUV systems for the most critical layers with the smallest features to ArF, KrF, and i-line DUV systems for less critical layers with larger features.</i>”\n <i>ASML Annual Report 2020, The Role Of Lithography, p. 12.</i>\n</blockquote>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fa32572971943844c4e71ddfc77559d6\" tg-width=\"640\" tg-height=\"547\"><span>ASML Annual Report 2020, The Role Of Lithography, p. 12.</span></p>\n<p>I believe most investors are familiar with confirmation bias, and if they aren’t, they should grab a book and educate themselves. Having read through this section, it can easily sound as if I as the author is suffering from confirmation bias given how strongly I’ve advocated for ASML’s position and competitive power. However, I’ve striven towards identifying situations that could severely impact ASML and being honest I can’t find it. There are of course the risks associated with geopolitical tension, which also showed itself in the stock price back in 2016, the risk of supply chain disruption as is currently transpiring across the industry and competition for talent. These are touched upon by the company itself in their annual report 2020 p. 21 and no industry comes without potential risks.</p>\n<p>So, to sum it all up:</p>\n<ul>\n <li>ASML has pioneered EUV lithography, with no competitors in sight</li>\n <li>EUV will enable the continuation of Moore’s Law and will drive long term value for ASML and its customers well into this decade</li>\n <li>The semiconductor sector forecasted to grow at CAGR of 8.6% through 2028, outpacing general GDP with ASML being a key supplier to the manufacturers (foundries)</li>\n <li>Strong industry CAPEX driving demand for ASML offerings</li>\n <li>The path forward for expanding EUV business in terms of installed base management, margins improvement and manufacturer dependency on EUV machinery for leading edge chips</li>\n <li>ASML is a crucial player for leading edge chip manufacturing</li>\n</ul>\n<p>Sounds pretty good to me.</p>\n<p>The Financial Performance and Development</p>\n<p>ASML is doing well for itself as evident by the illustration below.</p>\n<ul>\n <li>Strong revenue growth</li>\n <li>Strong margin expansion</li>\n <li>Strong improvement in free cash flow</li>\n <li>Impressive operational improvements strengthening its moat through increased R&amp;D spend and IP portfolio</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7900753b1857ac9ad6fc705b9baad563\" tg-width=\"640\" tg-height=\"414\"><span>Annual Report 2020, p 7.</span></p>\n<p>This was followed by a strong Q1-2021 performance with mouth-watering financials on both top and bottom line. However, for their Q2-2021 performance they are guiding for slightly lower revenue expansion at €4.1 billion with a gross margin of 49%, which is still above the long term average but closer to it. There is however no denying that the company is thriving in the current environment.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/60ea4dedde41a918bd9e1fd307a9531f\" tg-width=\"640\" tg-height=\"356\"><span>ASML 2021 First-Quarter, p. 14.</span></p>\n<p>An interesting detail is the development within the installed base management as illustrated earlier in the article. The company is delivering on its promise with a strong development within this segment growing 29% YoY from 2019 to 2020, well beyond the total growth of 18%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c6966dcaf747d226d5de580187d4d3ad\" tg-width=\"640\" tg-height=\"357\"><span>ASML 2021 First-Quarter, p. 8.</span></p>\n<p>The more interesting question however is whether the market estimates are underestimating the potential for ASML. An immensely hard question, but if we give it a look, I personally at least see the possibility of that being the case.</p>\n<p>Are Analyst Consensus Estimates Under- or Over-Estimating ASML’s Potential?</p>\n<p>ASML is well-covered by analysts offering estimates all the way through 2028, but with coverage waning once we go beyond 2025 which is the last year covered by more than one analyst. The current estimates show a revenue CAGR development of 11.1% from 2020 to 2028, but if we remove 2021, which shows stellar growth, the CAGR is 6.5%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9adf4cebbce28dc7433186b5bd0827e8\" tg-width=\"640\" tg-height=\"377\"><span>Author's Own Creation, Source Seeking Alpha.</span></p>\n<p>Remember the sector as a whole is forecasted to exhibit growth at a CAGR of 8.6% through 2028. These are all estimates which carry great uncertainty with no one able to reliably predict the future. However, it is worth noticing that revenue estimates for ASML are below the sector as a whole if the massive jump from 2020 to 2021 is left out of the equation. Average revenue growth from 2026 to 2028 is currently estimated to be 3.5%.</p>\n<p>Considering some of the arguments in favour of why ASML’s outlook could be even more positive:</p>\n<ul>\n <li>General semiconductor industry CAGR 2020-2028 forecasted at 8.6%.</li>\n <li>DUV CAGR 2020-2025forecastedat 8.4%, it is still ASML’s largest product category.</li>\n <li>EUV CAGR 2020-2027forecastedat 12%.</li>\n <li>ASML is a linchpin player to solve chip shortage through technology advancement and its machines define the performance of every electrical gadget we utilise in our daily lives.</li>\n <li>ASML shows progress in its plan to widen the ecosystem for its machinery through \"Installed Base Management\" increasing the total addressable market by upwards of double digits percentage as 2018 sales were 20% installed base management and 2025 estimate is 50%.</li>\n <li>ASML dominates the DUV immersion segment, the part of DUV with high margins as its two solecompetitorsin DUV, Nikon and Canon lack the means and capabilities.</li>\n <li>As the market transitions to EUV, the demand for DUV willfollowas the chip stacking process benefits from both systems through its manufacturing.</li>\n</ul>\n<p>This is without mentioning the potential price increases that could trickle down towards its customers as they could be fighting over ASML’s capacity due to its strong market position of 85% in DUV and monopoly within EUV while also bringing High NA-EUV to market by mid of this decade. Customers today pay roughly $130-150 million for EUV machines, while DUV machines come in at around $100 million. The largest hindrance to ASML overdelivering is its current capacity constraint in terms of ability to deliver EUV systems which is capped somewhere between 40 and 50 systems a year, with the company of course striving to expand that capacity constraint as demand builds up over the years. On the other hand, this could also be a driver for price increases as ASML strives to expand capacity.</p>\n<p>I will not try to construct an even bolder revenue guidance as it’s a cheap shot and frankly, no one has the capacity to accurately forecast if the current expectations will stand or whether they are too positive or negative. I just want to highlight that with everything going on and ASML’s market position in mind, I don’t consider it unreasonable that the company will do even better than currently anticipated.</p>\n<p><b>Valuation</b></p>\n<p>The stock price is an inch away from its 52-week high and has been on a tear since the beginning of 2020, really taking off since October 2020 from which it has doubled since.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/472c0e2f540c1d4ee2a7bbaec09379c0\" tg-width=\"635\" tg-height=\"453\"><span>Data by YCharts</span></p>\n<p>Market cap has exploded with all other parameters left in its wake having seen a significant expansion in price-earnings ratio despite a strong improvement in EPS and revenue. The stock market has long since recognised the story and potential of ASML with the Wall Street analyst target currently at $722 per share. Fair to say, there is no margin of safety if the analysts are correct in the predictions. Interestingly, out of the 30 analysts offering a price target, the percentage who are very bullish hasn’t been higher since 2016 with 56% stating a very bullish opinion. There is a mental exercise in staying cautious in terms of believing in such statements, not least because the stock has only known one direction for the last couple of years – upwards.</p>\n<p>The significance of the expansion in typical ratios is evident when considered over a five-year horizon as shown below. Both P/E and P/S have expanded massively standing at 55 and 15.7 respectively. However, the company is in a very different place compared to three years ago.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c691d4662a793b5de150add67a3a4e11\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p>\n<p>Revenue is growing significantly faster than previously with gross margin and free cash flow also having improved. Due to this positive development, ASML is also returning plenty of capital to its shareholders with a share buyback program of €10 billion for 2021, which unfortunately only translates to a reduction of 0.5% of the current float.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7341584d3ba7b1db51e1eef3c4bdaccd\" tg-width=\"635\" tg-height=\"436\"><span>Data by YCharts</span></p>\n<p>The strong belief in ASML going forward is also clearly illustrated by the estimates for the coming years, which throughout the most recent years has been steadily climbing due to the company’s strong portfolio and market dominance.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b262aeeb8d75114dbc3e45bf9464c830\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p>\n<p>With all that said, I believe that current shareholders do well for themselves in holding on to their existing shares as this company has a great outlook. I’ve had my eyes on ASML for the last year, and I’m extremely sad to say I never got around to looking into it properly, but only looked it at from afar and concluded that the stock might be due for a good pullback at one point. Little did I know.</p>\n<p>As Peter Lynch famously said, “Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves,” as would also be true for someone like me who didn’t act in time. I’m still massively fascinated by ASML’s outlook and potential journey, but at the current price, I remain hesitant about the prospects and the lack of margin of safety.</p>\n<p>There is a lot of potential for ASML to grow into its valuation, and if one is to add that current levels, I’d say dollar-cost averaging is a prudent strategy for the current price, while reserving the possibility to back up the truck for a full load if we see a pullback before end of 2021.</p>\n<p>As can be seen below, it is not uncommon for ASML to experience a 10% setback once or twice a year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad90b51964870f5475b596fe16f63317\" tg-width=\"635\" tg-height=\"403\"><span>Data by YCharts</span></p>\n<p><b>Conclusion</b></p>\n<p>ASML is dominant within its two main offerings, the DUV and EUV lithography. Its market is backed by incredibly strong tailwinds as all our gadgets, electrical cars, 5G, datacentres, cloud servers, etc. are heavily reliant on the technology platform offered by ASML. A true innovator with no real competition in sight, feeding machinery and tools to an industry expected to grow at CAGR 8.6% through 2028 with potentially even stronger growth for both its DUV and EUV platforms while also expecting margin expansion.</p>\n<p>There is little evil to be said about ASML, but unfortunately, the stock market has long since recognised its amazing story and potential. With such a strong outlook in sight, existing shareholders do well for themselves in holding onto their shares and just enjoy the journey ahead, but for the prospective shareholders, there appears to be a little margin of safety with the market cap having expanded significantly recently and the stock trading just an inch shy of its 52 week high.</p>\n<p>As Peter Lynch said, “Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.” The exact fallacy I’ve fallen victim to as I’ve looked at ASML from afar for quite a while. Despite the recent expansion in market cap and multiples, there could be made a case for current estimates underestimating ASML’s true potential, but any forecast extending 5-10 years into the future comes with extreme uncertainty and guesstimation. As I’ve shown, ASML’s share price is prone to setbacks once or twice a year allowing dollar-cost averaging to serve as a method to acquire exposure to the company slowly building a position along the way.</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>ASML: The Market Could Be Underestimating Its Potential</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nASML: The Market Could Be Underestimating Its Potential\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 11:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4435422-asml-market-could-be-underestimating-its-potential><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe Semiconductor sector is forecasted to grow at a CAGR of 8.6% through 2028.\nDUV lithography is forecasted to grow at a CAGR of 8.4% through 2025 with EUV lithography forecasted to grow at ...</p>\n\n<a href=\"https://seekingalpha.com/article/4435422-asml-market-could-be-underestimating-its-potential\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ASML":"阿斯麦"},"source_url":"https://seekingalpha.com/article/4435422-asml-market-could-be-underestimating-its-potential","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168762020","content_text":"Summary\n\nThe Semiconductor sector is forecasted to grow at a CAGR of 8.6% through 2028.\nDUV lithography is forecasted to grow at a CAGR of 8.4% through 2025 with EUV lithography forecasted to grow at a CAGR of 12% through 2027.\nASML holds a monopoly within EUV and faces very limited competition within DUV, both platforms absolutely vital for the semiconductor manufacturing process.\nA true innovator, ASML commands an outstanding position and growth outlook but the stock market has long since recognized the potential.\nExisting shareholders do well for themselves in just enjoying the ride, but there is little margin of safety left for prospective shareholders who might dip their toes into the water through dollar-cost averaging to benefit from the strong tailwinds powering ASML.\n\nMACRO PHOTO/iStock via Getty ImagesInvestment Thesis\nASML Holding (ASML) commands a market position like no one else with not a competitor in sight for its most advanced technological platform, EUV lithography. Similarly, it faces very limited competition within DUV, both platforms vital for semiconductor manufacturing. The household names within the semiconductor industry belong to the manufacturers, but the machinery providers, such as ASML, command very strong moats through extensive technological knowledge and strong process knowledge leaving all potential competitors years behind if they should ever try to compete.\nIt's hard to think of a better competitive situation, especially when operating in a sector forecasted to grow well above general GDP for many years to come. However, the market has long since recognized ASML's outstanding potential and potential journey, but still, it could be underestimating the potential.\nIntroduction\nI recently wrote an article concerning how youcan’t own too much semiconductor exposure. Having decomposed the value chain for semiconductor manufacturing, I received a number of questions concerning ASML in the comment sections and decided to conduct this follow-up. I’ve selected ASML due to its unique marketplace position and potential.\nPersonally I have exposure to the manufacturing level of the semiconductor value chain through shares in both Texas Instruments Incorporated (TXN) and Broadcom Inc. (AVGO), but venturing further back into the value chain, and investors can be allowed to invest in a broader manner into the industry, as the suppliers of machinery and software obtain a broader exposure to most of the manufacturers making it immensely interesting as you can adopt the mantra of “I don’t really mind who wins, as long as they are racing”. As such, potential exposure upstream in the value chain carries great interest.\nThe Marketplace and Value Drivers For Years To Come\nFor ASML followers it’s no surprise at this point, but ASML is dominant within the product offering that will drive its revenue for the coming decade, EUV (Extreme ultraviolet lithography) technology. My personal take is that it is hard to find a company in a similarly advantageous competitive position anywhere in any industry. ASML provides equipment for lithography, the art of printing the chip features via light sources, in several light spectrums with its most advanced being EUV which is the next-gen to DUV (deep ultraviolet lithography). For DUV there are competitors albeit ASML has a massive market share above 85%. The difference between DUV and EUV is that EUV operates at a light wavelength almost 15 times smaller than DUV (13.5nm compared to 193nm).\nActually, the semiconductor manufacturers for the leading edge chips such as 5nm and soon to be 3nm are deeply dependent on the EUV machinery. Without it, it simply wouldn’t be possible. That sounds like a pretty good bargain for those who can manufacture these machines, but there is only one company that is able to do it, and that is ASML. For every generation of new EUV machinery, its yield becomes better with higher throughput and reduced downtime issues, meaning that ASML is effectively lightyears ahead of anyone who would try to pick up the gauntlet and challenge their dominant position.\nThis is an industry where everything is about process knowledge. Taiwan Semiconductor (TSM) is able to produce 5nm chips because it was able to produce 7nm, and it will be able to produce 3nm because it can produce 5nm and has done that a million times over which is also why it was so detrimental to Intel Corp (INTC) that it had to acknowledge its persistent issues with the 7nm technology.\nQuite simply, there is no 3nm if you can’t do the 5nm, as also discussed in my previous article. Same goes for ASML as a competitor would be years and years behind ASML if they entered the EUV space as they would struggle with the same issues that have plagued ASML in its early days of EUV more than a decade ago. I’ve included a number of illustrations from their most recent investor day which took place in November 2018, with the next one to take place in September 2021.\nASML Investor Day 2018, EUV Products and Business Opportunity, p. 6.\nThe picture above clearly illustrates the process knowledge having been picked up by ASML throughout its EUV lifetime. This has also translated into better EUV machinery for each new generation as also evident by its productivity improvements. Again, I can’t imagine a more favourable competitive situation for a company, given how much time and capital it would require for a competitor to adopt the EUV technology.\nASML Investor Day 2018, EUV Products and Business Opportunity, p. 16.\nSemiconductor manufacturing is a cutthroat business with heavy R&D spend (it took ASML €6 billion in R&D spend to invent EUV) driving chip improvements according to Moore’s law, meaning that ASML is already working on the next-gen technology, referred to as High NA-EUV. High NA-EUV is still some time away, with the timeline below being slightly outdated, but its technology will significantly improve the EUV platform and power the industry beyond this decade. It takes time to develop the technology, improve yield and reduce downtime, but there is still plenty of opportunities for EUV in terms of marketplace expansion and margin improvement.\nASML Investor Day 2018, EUV Products and Business Opportunity, p. 21.\nASML itself has laid out the expected path in terms of optimised margins through both add-ons facing the buyer side and upstream cost reductions facing their suppliers creating a sweet spot for the company effectively striving to achieve the same profitability profile as for its more mature DUV platform.\nASML Investor Day 2018, EUV Products and Business Opportunity, p. 25.\nIf that wasn’t good enough, then add the fact that the semiconductor industry in general is expected to outpace general GDP for at least until 2028 with a CAGR of 8.6%. Recentcommunicationsby Taiwan Semiconductor, Intel and Samsung Electronics Company (OTC:SSNLF) shows the strength and growth potential for the sector with their combined CAPEX expectations going beyond $200 billion for the coming decade, with a significant chunk of that within the coming years.\nAs can be seen in the illustration above, ASML expects increased customer value through upgrades, with their roadmap for DUV serving as an example in terms of how the revenue base could expand over the coming years for EUV as is the case for DUV via what the company has labelled installed base management.\nASML Investor Day 2018, DUV Products and Business Opportunity, p. 10.\nThere is of course always the possibility of a serious contender entering the marketplace in order to try and challenge ASML, but companies have tried to enter the space when the technology was in its infancy having given up, meaning the prime threat would be the emergence of a new lithography technology arriving and doing to EUV what EUV did to DUV. Possible sure, likely, not so much. Just to hammer down the point, I’ve inserted a paragraph from ASML’s own description of how lithography plays its role.\n\n “\n Lithography is a driving force in the creation of more powerful, faster and cheaper chips. The manufacturing of chips becomes increasingly complex as semiconductor feature sizes shrink, while the imperative to mass produce at the right cost remains. Our holistic lithography product portfolio helps to optimize production and enable affordable shrink by integrating lithography systems with computational modeling, as well as metrology and inspection solutions. A lithography system is essentially a projection system. Light is projected through a blueprint of the pattern that will be printed (known as a ‘mask’ or ‘reticle’). With the pattern encoded in the light, the system’s optics shrink and focus the pattern onto a photosensitive silicon wafer. After the pattern is printed, the system moves the wafer slightly and makes another copy on the wafer. This process is repeated until the wafer is covered in patterns, completing one layer of the wafer’s chips. To make an entire microchip, this process is repeated layer after layer, stacking the patterns to create an integrated circuit (IC). The simplest chips have around 10 layers, while the most complex can have over 150 layers. The size of the features to be printed varies depending on the layer, which means that different types of lithography systems are used for different layers – our latest-generation EUV systems for the most critical layers with the smallest features to ArF, KrF, and i-line DUV systems for less critical layers with larger features.”\n ASML Annual Report 2020, The Role Of Lithography, p. 12.\n\nASML Annual Report 2020, The Role Of Lithography, p. 12.\nI believe most investors are familiar with confirmation bias, and if they aren’t, they should grab a book and educate themselves. Having read through this section, it can easily sound as if I as the author is suffering from confirmation bias given how strongly I’ve advocated for ASML’s position and competitive power. However, I’ve striven towards identifying situations that could severely impact ASML and being honest I can’t find it. There are of course the risks associated with geopolitical tension, which also showed itself in the stock price back in 2016, the risk of supply chain disruption as is currently transpiring across the industry and competition for talent. These are touched upon by the company itself in their annual report 2020 p. 21 and no industry comes without potential risks.\nSo, to sum it all up:\n\nASML has pioneered EUV lithography, with no competitors in sight\nEUV will enable the continuation of Moore’s Law and will drive long term value for ASML and its customers well into this decade\nThe semiconductor sector forecasted to grow at CAGR of 8.6% through 2028, outpacing general GDP with ASML being a key supplier to the manufacturers (foundries)\nStrong industry CAPEX driving demand for ASML offerings\nThe path forward for expanding EUV business in terms of installed base management, margins improvement and manufacturer dependency on EUV machinery for leading edge chips\nASML is a crucial player for leading edge chip manufacturing\n\nSounds pretty good to me.\nThe Financial Performance and Development\nASML is doing well for itself as evident by the illustration below.\n\nStrong revenue growth\nStrong margin expansion\nStrong improvement in free cash flow\nImpressive operational improvements strengthening its moat through increased R&D spend and IP portfolio\n\nAnnual Report 2020, p 7.\nThis was followed by a strong Q1-2021 performance with mouth-watering financials on both top and bottom line. However, for their Q2-2021 performance they are guiding for slightly lower revenue expansion at €4.1 billion with a gross margin of 49%, which is still above the long term average but closer to it. There is however no denying that the company is thriving in the current environment.\nASML 2021 First-Quarter, p. 14.\nAn interesting detail is the development within the installed base management as illustrated earlier in the article. The company is delivering on its promise with a strong development within this segment growing 29% YoY from 2019 to 2020, well beyond the total growth of 18%.\nASML 2021 First-Quarter, p. 8.\nThe more interesting question however is whether the market estimates are underestimating the potential for ASML. An immensely hard question, but if we give it a look, I personally at least see the possibility of that being the case.\nAre Analyst Consensus Estimates Under- or Over-Estimating ASML’s Potential?\nASML is well-covered by analysts offering estimates all the way through 2028, but with coverage waning once we go beyond 2025 which is the last year covered by more than one analyst. The current estimates show a revenue CAGR development of 11.1% from 2020 to 2028, but if we remove 2021, which shows stellar growth, the CAGR is 6.5%.\nAuthor's Own Creation, Source Seeking Alpha.\nRemember the sector as a whole is forecasted to exhibit growth at a CAGR of 8.6% through 2028. These are all estimates which carry great uncertainty with no one able to reliably predict the future. However, it is worth noticing that revenue estimates for ASML are below the sector as a whole if the massive jump from 2020 to 2021 is left out of the equation. Average revenue growth from 2026 to 2028 is currently estimated to be 3.5%.\nConsidering some of the arguments in favour of why ASML’s outlook could be even more positive:\n\nGeneral semiconductor industry CAGR 2020-2028 forecasted at 8.6%.\nDUV CAGR 2020-2025forecastedat 8.4%, it is still ASML’s largest product category.\nEUV CAGR 2020-2027forecastedat 12%.\nASML is a linchpin player to solve chip shortage through technology advancement and its machines define the performance of every electrical gadget we utilise in our daily lives.\nASML shows progress in its plan to widen the ecosystem for its machinery through \"Installed Base Management\" increasing the total addressable market by upwards of double digits percentage as 2018 sales were 20% installed base management and 2025 estimate is 50%.\nASML dominates the DUV immersion segment, the part of DUV with high margins as its two solecompetitorsin DUV, Nikon and Canon lack the means and capabilities.\nAs the market transitions to EUV, the demand for DUV willfollowas the chip stacking process benefits from both systems through its manufacturing.\n\nThis is without mentioning the potential price increases that could trickle down towards its customers as they could be fighting over ASML’s capacity due to its strong market position of 85% in DUV and monopoly within EUV while also bringing High NA-EUV to market by mid of this decade. Customers today pay roughly $130-150 million for EUV machines, while DUV machines come in at around $100 million. The largest hindrance to ASML overdelivering is its current capacity constraint in terms of ability to deliver EUV systems which is capped somewhere between 40 and 50 systems a year, with the company of course striving to expand that capacity constraint as demand builds up over the years. On the other hand, this could also be a driver for price increases as ASML strives to expand capacity.\nI will not try to construct an even bolder revenue guidance as it’s a cheap shot and frankly, no one has the capacity to accurately forecast if the current expectations will stand or whether they are too positive or negative. I just want to highlight that with everything going on and ASML’s market position in mind, I don’t consider it unreasonable that the company will do even better than currently anticipated.\nValuation\nThe stock price is an inch away from its 52-week high and has been on a tear since the beginning of 2020, really taking off since October 2020 from which it has doubled since.\nData by YCharts\nMarket cap has exploded with all other parameters left in its wake having seen a significant expansion in price-earnings ratio despite a strong improvement in EPS and revenue. The stock market has long since recognised the story and potential of ASML with the Wall Street analyst target currently at $722 per share. Fair to say, there is no margin of safety if the analysts are correct in the predictions. Interestingly, out of the 30 analysts offering a price target, the percentage who are very bullish hasn’t been higher since 2016 with 56% stating a very bullish opinion. There is a mental exercise in staying cautious in terms of believing in such statements, not least because the stock has only known one direction for the last couple of years – upwards.\nThe significance of the expansion in typical ratios is evident when considered over a five-year horizon as shown below. Both P/E and P/S have expanded massively standing at 55 and 15.7 respectively. However, the company is in a very different place compared to three years ago.\nData by YCharts\nRevenue is growing significantly faster than previously with gross margin and free cash flow also having improved. Due to this positive development, ASML is also returning plenty of capital to its shareholders with a share buyback program of €10 billion for 2021, which unfortunately only translates to a reduction of 0.5% of the current float.\nData by YCharts\nThe strong belief in ASML going forward is also clearly illustrated by the estimates for the coming years, which throughout the most recent years has been steadily climbing due to the company’s strong portfolio and market dominance.\nData by YCharts\nWith all that said, I believe that current shareholders do well for themselves in holding on to their existing shares as this company has a great outlook. I’ve had my eyes on ASML for the last year, and I’m extremely sad to say I never got around to looking into it properly, but only looked it at from afar and concluded that the stock might be due for a good pullback at one point. Little did I know.\nAs Peter Lynch famously said, “Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves,” as would also be true for someone like me who didn’t act in time. I’m still massively fascinated by ASML’s outlook and potential journey, but at the current price, I remain hesitant about the prospects and the lack of margin of safety.\nThere is a lot of potential for ASML to grow into its valuation, and if one is to add that current levels, I’d say dollar-cost averaging is a prudent strategy for the current price, while reserving the possibility to back up the truck for a full load if we see a pullback before end of 2021.\nAs can be seen below, it is not uncommon for ASML to experience a 10% setback once or twice a year.\nData by YCharts\nConclusion\nASML is dominant within its two main offerings, the DUV and EUV lithography. Its market is backed by incredibly strong tailwinds as all our gadgets, electrical cars, 5G, datacentres, cloud servers, etc. are heavily reliant on the technology platform offered by ASML. A true innovator with no real competition in sight, feeding machinery and tools to an industry expected to grow at CAGR 8.6% through 2028 with potentially even stronger growth for both its DUV and EUV platforms while also expecting margin expansion.\nThere is little evil to be said about ASML, but unfortunately, the stock market has long since recognised its amazing story and potential. With such a strong outlook in sight, existing shareholders do well for themselves in holding onto their shares and just enjoy the journey ahead, but for the prospective shareholders, there appears to be a little margin of safety with the market cap having expanded significantly recently and the stock trading just an inch shy of its 52 week high.\nAs Peter Lynch said, “Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.” The exact fallacy I’ve fallen victim to as I’ve looked at ASML from afar for quite a while. Despite the recent expansion in market cap and multiples, there could be made a case for current estimates underestimating ASML’s true potential, but any forecast extending 5-10 years into the future comes with extreme uncertainty and guesstimation. As I’ve shown, ASML’s share price is prone to setbacks once or twice a year allowing dollar-cost averaging to serve as a method to acquire exposure to the company slowly building a position along the way.","news_type":1},"isVote":1,"tweetType":1,"viewCount":41,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575143606799200","authorId":"3575143606799200","name":"KK2021","avatar":"https://static.tigerbbs.com/e57decb2950e37ceb12176c97c9be2c4","crmLevel":8,"crmLevelSwitch":1},"content":"pls comment and like","text":"pls comment and like","html":"pls comment and like"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9069248187,"gmtCreate":1651299232860,"gmtModify":1676534887315,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9069248187","repostId":"2231269104","repostType":4,"repost":{"id":"2231269104","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":1651272464,"share":"https://www.laohu8.com/m/news/2231269104?lang=&edition=full","pubTime":"2022-04-30 06:47","market":"us","language":"en","title":"US STOCKS-Wall Street Closes Sharply Lower on Amazon Slump, Inflation Worries","url":"https://stock-news.laohu8.com/highlight/detail?id=2231269104","media":"Reuters","summary":"$Amazon(AMZN)$ tumbles after results and outlook fall shortApple slips after flagging supply problemsMonthly inflation surged by the most since 2005Indexes end: S&P 500 -3.63%, Nasdaq -4.17%, Dow -2.7","content":"<html><head></head><body><ul><li><a href=\"https://laohu8.com/S/AMZN\">Amazon</a> tumbles after results and outlook fall short</li><li>Apple slips after flagging supply problems</li><li>Monthly inflation surged by the most since 2005</li><li>Indexes end: S&amp;P 500 -3.63%, Nasdaq -4.17%, Dow -2.77%</li></ul><p>(Reuters) - Wall Street slid on Friday to its deepest daily losses since 2020, as <a href=\"https://laohu8.com/S/AMZN\">Amazon</a> slumped following a gloomy quarterly report, and as the biggest surge in monthly inflation since 2005 spooked investors already worried about rising interest rates.</p><p><a href=\"https://laohu8.com/S/AMZN\">Amazon.com Inc</a> tumbled 14.05% in its steepest one-day drop since 2006, leaving the widely held stock near two-year lows. Late on Thursday, the e-commerce giant delivered a disappointing quarter and outlook, swamped by higher costs.</p><p><a href=\"https://laohu8.com/S/AAPL\">Apple Inc</a>, the world&#39;s most valuable company, dropped 3.66% after its disappointing outlook overshadowed record quarterly profit and sales.</p><p>All 11 S&amp;P 500 sector indexes fell, led lower by a 5.9% slide in Consumer Discretionary and a 4.9% drop in Real Estate.</p><p>The S&amp;P 500 logged it largest one-day decline since June 2020. The Nasdaq&#39;s decline was its largest since September 2020.</p><p>Downbeat results and worries about aggressive monetary policy tightening by the Federal Reserve have hammered megacap technology and growth stocks this month.</p><p>The Fed is set to meet next week, with traders betting on a 50-basis-point rate hike to combat surging inflation.</p><p>Ahead of the weekend and the Fed meeting next week, &#34;people are clearing the decks. The disappointing guidance from Apple and Amazon and a few other companies set the stage yesterday for today to be weak and it accelerated as we ended out the day,&#34; said Peter Tuz, President of Chase Investment Counsel in Charlottesville, Virginia.</p><p>The Nasdaq has lost about 13% in April, its worst monthly performance since the global financial crisis in 2008.</p><p>The S&amp;P 500 has fallen 13% so far in 2022, its steepest four-month decline to start any year since 1939.</p><p>Adding to fears on Wall Street, data showed the personal consumption expenditures price index - the Fed&#39;s favored measure of inflation - shot up 0.9% in March after climbing 0.5% in February.</p><p>Signs of aggressive monetary policy tightening. Data on Thursday showed the U.S. economy unexpectedly contracted in the first quarter.</p><p>The, S&amp;P 500 declined 3.63% to end the session at 4,131.93 points.</p><p>The Nasdaq declined 4.17% to 12,334.64 points, while Dow Jones Industrial Average declined 2.77% to 32,977.21 points.</p><p>For the week, the S&amp;P 500 lost 3.3%, the Nasdaq shed 3.9% and the Dow declined 2.5%.</p><p>The S&amp;P 500 has gained or lost 2% or more in a day some 33 times so far in 2022, compared to 24 such days in all of 2021.</p><p><a href=\"https://laohu8.com/S/XOM\">Exxon Mobil Corp</a> slipped 2.24% after it took a $3.4 billion writedown due to its exit from Russia. <a href=\"https://laohu8.com/S/CVX\">Chevron Corp</a> dropped 3.16% after its first-quarter profit underwhelmed.</p><p>The first-quarter earnings season overall has been better than expected so far. Nearly half of the S&amp;P 500 companies have reported through Thursday and 81% of them have topped Wall Street&#39;s expectations. Typically, only 66% beat estimates, according to Refinitiv data.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 3.91-to-1 ratio; on Nasdaq, a 2.85-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 2 new 52-week highs and 47 new lows; the Nasdaq Composite recorded 13 new highs and 385 new lows.</p><p>Volume on U.S. exchanges was 12.4 billion shares, compared with an 11.8 billion average over the last 20 trading days.</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>US STOCKS-Wall Street Closes Sharply Lower on Amazon Slump, Inflation Worries</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\">\nUS STOCKS-Wall Street Closes Sharply Lower on Amazon Slump, Inflation Worries\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\">2022-04-30 06:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul><li><a href=\"https://laohu8.com/S/AMZN\">Amazon</a> tumbles after results and outlook fall short</li><li>Apple slips after flagging supply problems</li><li>Monthly inflation surged by the most since 2005</li><li>Indexes end: S&amp;P 500 -3.63%, Nasdaq -4.17%, Dow -2.77%</li></ul><p>(Reuters) - Wall Street slid on Friday to its deepest daily losses since 2020, as <a href=\"https://laohu8.com/S/AMZN\">Amazon</a> slumped following a gloomy quarterly report, and as the biggest surge in monthly inflation since 2005 spooked investors already worried about rising interest rates.</p><p><a href=\"https://laohu8.com/S/AMZN\">Amazon.com Inc</a> tumbled 14.05% in its steepest one-day drop since 2006, leaving the widely held stock near two-year lows. Late on Thursday, the e-commerce giant delivered a disappointing quarter and outlook, swamped by higher costs.</p><p><a href=\"https://laohu8.com/S/AAPL\">Apple Inc</a>, the world&#39;s most valuable company, dropped 3.66% after its disappointing outlook overshadowed record quarterly profit and sales.</p><p>All 11 S&amp;P 500 sector indexes fell, led lower by a 5.9% slide in Consumer Discretionary and a 4.9% drop in Real Estate.</p><p>The S&amp;P 500 logged it largest one-day decline since June 2020. The Nasdaq&#39;s decline was its largest since September 2020.</p><p>Downbeat results and worries about aggressive monetary policy tightening by the Federal Reserve have hammered megacap technology and growth stocks this month.</p><p>The Fed is set to meet next week, with traders betting on a 50-basis-point rate hike to combat surging inflation.</p><p>Ahead of the weekend and the Fed meeting next week, &#34;people are clearing the decks. The disappointing guidance from Apple and Amazon and a few other companies set the stage yesterday for today to be weak and it accelerated as we ended out the day,&#34; said Peter Tuz, President of Chase Investment Counsel in Charlottesville, Virginia.</p><p>The Nasdaq has lost about 13% in April, its worst monthly performance since the global financial crisis in 2008.</p><p>The S&amp;P 500 has fallen 13% so far in 2022, its steepest four-month decline to start any year since 1939.</p><p>Adding to fears on Wall Street, data showed the personal consumption expenditures price index - the Fed&#39;s favored measure of inflation - shot up 0.9% in March after climbing 0.5% in February.</p><p>Signs of aggressive monetary policy tightening. Data on Thursday showed the U.S. economy unexpectedly contracted in the first quarter.</p><p>The, S&amp;P 500 declined 3.63% to end the session at 4,131.93 points.</p><p>The Nasdaq declined 4.17% to 12,334.64 points, while Dow Jones Industrial Average declined 2.77% to 32,977.21 points.</p><p>For the week, the S&amp;P 500 lost 3.3%, the Nasdaq shed 3.9% and the Dow declined 2.5%.</p><p>The S&amp;P 500 has gained or lost 2% or more in a day some 33 times so far in 2022, compared to 24 such days in all of 2021.</p><p><a href=\"https://laohu8.com/S/XOM\">Exxon Mobil Corp</a> slipped 2.24% after it took a $3.4 billion writedown due to its exit from Russia. <a href=\"https://laohu8.com/S/CVX\">Chevron Corp</a> dropped 3.16% after its first-quarter profit underwhelmed.</p><p>The first-quarter earnings season overall has been better than expected so far. Nearly half of the S&amp;P 500 companies have reported through Thursday and 81% of them have topped Wall Street&#39;s expectations. Typically, only 66% beat estimates, according to Refinitiv data.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 3.91-to-1 ratio; on Nasdaq, a 2.85-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 2 new 52-week highs and 47 new lows; the Nasdaq Composite recorded 13 new highs and 385 new lows.</p><p>Volume on U.S. exchanges was 12.4 billion shares, compared with an 11.8 billion average over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4548":"巴美列捷福持仓","XOM":"埃克森美孚","AAPL":"苹果",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念",".SPX":"S&P 500 Index","BK4507":"流媒体概念","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","BK4535":"淡马锡持仓","BK4524":"宅经济概念","BK4538":"云计算","BK4527":"明星科技股","CVX":"雪佛龙","BK4559":"巴菲特持仓","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4503":"景林资产持仓","BK4122":"互联网与直销零售","BK4551":"寇图资本持仓","BK4561":"索罗斯持仓","AMZN":"亚马逊","BK4581":"高盛持仓"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2231269104","content_text":"Amazon tumbles after results and outlook fall shortApple slips after flagging supply problemsMonthly inflation surged by the most since 2005Indexes end: S&P 500 -3.63%, Nasdaq -4.17%, Dow -2.77%(Reuters) - Wall Street slid on Friday to its deepest daily losses since 2020, as Amazon slumped following a gloomy quarterly report, and as the biggest surge in monthly inflation since 2005 spooked investors already worried about rising interest rates.Amazon.com Inc tumbled 14.05% in its steepest one-day drop since 2006, leaving the widely held stock near two-year lows. Late on Thursday, the e-commerce giant delivered a disappointing quarter and outlook, swamped by higher costs.Apple Inc, the world's most valuable company, dropped 3.66% after its disappointing outlook overshadowed record quarterly profit and sales.All 11 S&P 500 sector indexes fell, led lower by a 5.9% slide in Consumer Discretionary and a 4.9% drop in Real Estate.The S&P 500 logged it largest one-day decline since June 2020. The Nasdaq's decline was its largest since September 2020.Downbeat results and worries about aggressive monetary policy tightening by the Federal Reserve have hammered megacap technology and growth stocks this month.The Fed is set to meet next week, with traders betting on a 50-basis-point rate hike to combat surging inflation.Ahead of the weekend and the Fed meeting next week, \"people are clearing the decks. The disappointing guidance from Apple and Amazon and a few other companies set the stage yesterday for today to be weak and it accelerated as we ended out the day,\" said Peter Tuz, President of Chase Investment Counsel in Charlottesville, Virginia.The Nasdaq has lost about 13% in April, its worst monthly performance since the global financial crisis in 2008.The S&P 500 has fallen 13% so far in 2022, its steepest four-month decline to start any year since 1939.Adding to fears on Wall Street, data showed the personal consumption expenditures price index - the Fed's favored measure of inflation - shot up 0.9% in March after climbing 0.5% in February.Signs of aggressive monetary policy tightening. Data on Thursday showed the U.S. economy unexpectedly contracted in the first quarter.The, S&P 500 declined 3.63% to end the session at 4,131.93 points.The Nasdaq declined 4.17% to 12,334.64 points, while Dow Jones Industrial Average declined 2.77% to 32,977.21 points.For the week, the S&P 500 lost 3.3%, the Nasdaq shed 3.9% and the Dow declined 2.5%.The S&P 500 has gained or lost 2% or more in a day some 33 times so far in 2022, compared to 24 such days in all of 2021.Exxon Mobil Corp slipped 2.24% after it took a $3.4 billion writedown due to its exit from Russia. Chevron Corp dropped 3.16% after its first-quarter profit underwhelmed.The first-quarter earnings season overall has been better than expected so far. Nearly half of the S&P 500 companies have reported through Thursday and 81% of them have topped Wall Street's expectations. Typically, only 66% beat estimates, according to Refinitiv data.Declining issues outnumbered advancing ones on the NYSE by a 3.91-to-1 ratio; on Nasdaq, a 2.85-to-1 ratio favored decliners.The S&P 500 posted 2 new 52-week highs and 47 new lows; the Nasdaq Composite recorded 13 new highs and 385 new lows.Volume on U.S. exchanges was 12.4 billion shares, compared with an 11.8 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":298,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035736709,"gmtCreate":1647675440262,"gmtModify":1676534258029,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035736709","repostId":"2220777059","repostType":4,"repost":{"id":"2220777059","pubTimestamp":1647653153,"share":"https://www.laohu8.com/m/news/2220777059?lang=&edition=full","pubTime":"2022-03-19 09:25","market":"us","language":"en","title":"Sea Limited: The Three-Headed Monster","url":"https://stock-news.laohu8.com/highlight/detail?id=2220777059","media":"seekingalpha","summary":"SummaryGarena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but B","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Garena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but Bookings are expected to fall sharply in FY2022.</li><li>In addition, Shopee&#39;s losses are widening. However, the e-commerce segment is expected to be self-funded by 2025. This is achievable as take rates are trending in the right direction.</li><li>SeaMoney is also gaining traction at an unprecedented pace, a monster lurking in the shadows. Investors should pay attention as this segment could serve as Sea&#39;s second cash cow.</li><li>With a net cash position of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won&#39;t be long before Sea requires another cash infusion.</li><li>Despite unprofitability risks, Sea has a strong brand, network effects, and barriers to entry moats. The stock is trading at the lowest multiple ever - it is worth a nibble at these prices.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/51b3290f2015840c5d8f754c01de8a85\" tg-width=\"750\" tg-height=\"422\" referrerpolicy=\"no-referrer\"/><span>undefined undefined/iStock via Getty Images</span></p><p>I&#39;ve been following Sea Limited ADR (NYSE:SE) for quite some time now and the stock got me interested again given the recent 75% selloff. Today, I&#39;m doing a deep dive on the three-headed monster (and each of its heads) to see if the company is a good investment opportunity at these levels. Let&#39;s get started!</p><p><b>Investment Thesis</b></p><p>Sea is at the forefront of the internet revolution in developing regions. This had many investors buying into the growth story of the company, sending shares soaring high into the sun for the better part of 2020 and 2021. However, the stock has cratered back to sea amid concerns about the company&#39;s slowing growth, especially for its only cash cow, Garena. To make matters worse, Shopee&#39;s losses are also getting worse.</p><p>The Group&#39;s cash burn rate is still high, estimated to be $(3.6) billion in FY2022. With a net cash position of $5.9 billion, future capital raises are very likely.</p><p>On the bright side, Sea still has a long growth runway ahead, solidified by its leadership positions in Southeast Asia and Latin America. SeaMoney, although still unprofitable, could also emerge as Sea&#39;s second cash cow.</p><p>Despite unprofitability and competitive risks, Sea has strong competitive moats and it is trading at the cheapest valuation multiples since its IPO.</p><p>The three-headed monster is a Buy at these levels.</p><p><b>Value Proposition</b></p><p>Founded in Singapore in 2009, Sea has grown to become the leading consumer internet company in the world, with a substantial presence in the Southeast Asian region.</p><blockquote><b>Mission</b>: To better the lives of consumers and small businesses with technology.</blockquote><p>Sea is a holding company for three core businesses: Garena, Shopee, and SeaMoney. Sea&#39;s main value proposition is providing a vertically-integrated experience through its different core businesses.</p><p><b>Garena</b></p><p>Its digital entertainment division, Garena, was Sea&#39;s first business venture. In fact, Sea was originally named Garena Interactive Holding Limited before changing its name to Sea Limited in 2017.</p><p>Garena is one of the largest online games developers and publishers, releasing some of the most successful mobile and PC games over the last decade. For example, Garena&#39;s Free Fire, its self-developed mobile battle royale game, topped the global download charts for the last three years. According to data.ai, Free Fire also ranked second globally by average monthly active users on Google Play in 2021. In Southeast Asia and Latin America, Free Fire was the highest-grossing mobile game for ten consecutive quarters, and in the US for four consecutive quarters. Based on Sensor <a href=\"https://laohu8.com/S/TWR.AU\">Tower</a>&#39;s findings, Free Fire still holds the most downloads globally as of January 2022.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fa392753c19f14d60ee0d992e58c3d2f\" tg-width=\"1280\" tg-height=\"741\" referrerpolicy=\"no-referrer\"/><span>Source: SensorTower</span></p><p>Garena also exclusively licenses and publishes games from global partners and third-party developers. Some of these partners include Tencent (OTCPK:TCEHY), Activision (ATVI), and Arumgames. Games like Speed Drifters, Arena of Valor, and Fantasy Town fall into this category as they are co-developed with partners or licensed from partners.</p><p>In addition, Garena organizes some of the largest e-sports events from local tournaments to professional competitions at a global level. Moreover, Garena offers other entertainment content such as live-streaming, user chat, and online forums.</p><p><b>Shopee</b></p><p>Perhaps the most exciting business segment is Sea&#39;s mobile-centric e-commerce platform, Shopee. Launched in 2015, Shopee is now one of the fastest-growing e-commerce marketplaces with a strong presence in Southeast Asia, as well as growing recognition in Latin America and some European countries.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6649de846b2942b928a3f3e5d4035003\" tg-width=\"640\" tg-height=\"200\" referrerpolicy=\"no-referrer\"/><span>Source: Shopee</span></p><p>Through the Shopee platform, buyers can purchase items from sellers which are primarily small and medium businesses (or mom-and-pop stores). At the same time, larger, more established retailers like Xiaomi (OTCPK:XIACF), Microsoft (MSFT), or Samsung (OTC:SSNLF) can leverage Shopee&#39;s two premium shopping platforms, Shopee Mall and Shopee Premium.</p><p>Along with Shopee&#39;s e-commerce marketplace, Shopee also offers adjacent products and services for both buyers and sellers:</p><ul><li><b>Service by Shopee</b> - Value-added services for sellers such as integrated payment, logistics, fulfillment, seller support, inventory management, and online store operations.</li><li><b>BuyerProtection</b> - Consumer protection policies and procedures including seller verification, product listing screening, and dispute resolution. In addition, Shopee Guarantee reduces settlement risks by holding customers&#39; funds in a separate account until delivery is complete, where funds will be released to buyers.</li><li><b>Integrated Logistics Services</b>- Shopee partners with various local and regional third-party logistics service providers to provide a seamless last-mile delivery experience for both buyers and sellers. Shopee also has its own delivery service called Shopee Xpress.</li><li><b>Social Features</b> - Shopee also offers other social and gamification features, including Shopee Coins (virtual currency), Shopee Live (livestream), Shopee Games (in-app games), and Shopee Feed (similar to Instagram).</li><li><b>On-demand Services</b>- Shopee also recently launched on-demand services such as ShopeeFood, instant delivery, and groceries, competing directly with Grab (GRAB), Gojek, and Uber (UBER).</li></ul><p>Shopee&#39;s scale is unmatched and it is still growing at an unprecedented pace. According to data.ai, Shopee in Southeast Asia and Taiwan ranked first in average monthly active users and total time spent in the app in 2021. Shopee Indonesia, arguably Shopee&#39;s most important market, ranked first in the Shopping category. Shopee Brazil, which launched in October 2019, was also ranked first in the Shopping category. And globally, Shopee ranked first in the Shopping category, and is the #13 most downloaded app regardless of category, logging in 200+ million downloads in 2021.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f9c550b140720336e00cc78e954d184\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: SensorTower</span></p><p><b>SeaMoney</b></p><p>SeaMoney was launched in 2014 and is now one of the leading digital financial services providers in Sea&#39;s operating countries. SeaMoney offers mobile wallet services, payment processing, credit, and other digital financial services. These services are offered under SeaMoney&#39;s various brands including AirPay, ShopeePay, SPayLater, and other local brands depending on the country. SeaMoney was initially launched in Vietnam and Thailand but has since expanded to other regions.</p><p>Through SeaMoney&#39;s mobile wallet offerings, consumers and merchants have added flexibility in terms of payment options, whether through online or offline means. The launch of SPayLater, which is basically a &#34;buy now pay later&#34; payment option, enables consumers to purchase items without accessing credit. For those who are interested, I&#39;ve written a deep dive on Affirm (AFRM) where I discuss the main value propositions that BNPL provides.</p><p>SeaMoney has obtained bank licenses and government approvals to provide financial services in various countries. For example, Sea acquired Bank Kesejahteraan Ekonomi in Indonesia back in early 2021 as a push towards offering a digital banking solution. The company is now rebranded to SeaBank, which currently offers a high-yield savings account and virtual account.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4c85c862195f86fe9d4f0f8c8beced6b\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: SeaBank Website</span></p><p>SeaMoney&#39;s main value proposition lies in offering a mobile wallet and payment solutions that are integrated with Sea&#39;s other businesses, namely Garena and Shopee, enabling consumers and merchants to transact seamlessly in one vertically-integrated platform.</p><p><b>Market Opportunity</b></p><p>Sea&#39;s market opportunity is predicated around the industry outlook of each of its business segments: mobile gaming, e-commerce, and fintech. Let&#39;s take a look at each industry that Sea operates in.</p><p>First, we have the mobile gaming industry. According to data.ai, Mobile Game Consumer Spend grew from $74 billion in 2018 to $116 billion in 2021, while Mobile Game Downloads grew from 63 billion in 2018 to 83 billion in 2021. Among the Top Genres by Downloads were Hypercasual games such as Hair Challenge and Water Sort Puzzle. However, the Top Genres by Consumer Spend belong to the Strategy, RPG, and Shooting categories where Garena specializes in. For example, Free Fire was the top Shooting game by revenue in Thailand, Brazil, Mexico, and the US, in 2021. Globally, however, it is still behind PUBG Mobile, which generates the bulk of its revenue from China.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f72bda6df6bc2b7bdf8756d218f53185\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: SensorTower</span></p><p>According to Adjust, the mobile gaming industry is expected to reach $272 billion by 2030, which is about 1.5x of 2021&#39;s total figure. Given Garena&#39;s successes in monetizing its games, Garena should continue to enjoy gaming tailwinds in the foreseeable future, provided that its games remain in trend. This is also supported by Unity&#39;s findings that the APAC region is the fastest-growing regional market, a market that Garena dominates in.</p><p>Moving on to e-commerce, we all know that e-commerce is growing rapidly and that its market share as a whole will continue to trend up from here. This is especially true for the Southeast Asian region where internet and smartphone adoption continues to increase by the day. Based on the e-Conomy SEA report, Southeast Asia now has 440 million internet users, up from 360 million in 2019. Its total population is about 589 million.</p><p>Internet Gross Merchandise Value, or GMV, for the region was $170 billion in 2021 and is expected to reach $360 billion by 2025 with e-commerce leading the charge. The shift to e-commerce is not only happening on the consumer side but also on the merchant side. Digital marketing tools, analytical tools, and digital payment solutions have accelerated business for merchants. Shopee&#39;s vertically-integrated platform also makes it easy for merchants in these developing countries to set up shop, distribute goods, and accept payments in a single platform.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2fcb903aed7c0ec901fc83c4f25f18b8\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: e-Conomy SEA 2021</span></p><p>Furthermore, Sea has recently expanded its e-commerce operations to other regions such as Latin America and Europe, which further expands its market opportunity.</p><p>Lastly, we have the fintech industry pertaining to SeaMoney. In my <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> (PYPL) deep dive, I discussed the growth of mobile wallets as a payment method in both online and offline transactions. The shift to a cashless and cardless society is inevitable and that is also true for Sea&#39;s markets.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/47ec896a6208b6023ae89f654704bbc7\" tg-width=\"1261\" tg-height=\"706\" referrerpolicy=\"no-referrer\"/><span>Source: Ark Invest Big Ideas 2022</span></p><p>As you can see below, mobile wallets continue to gain traction in Southeast Asia. In addition, 92% of digital merchants intend to maintain usage or increase usage of digital payments in the next 1 to 2 years. ShopeePay and SeaMoney&#39;s other brands will benefit from this trend. Also of important note, SeaMoney&#39;s expansion to buy now pay later with SPayLater will be a key GMV and revenue driver for the segment. These are the reasons why some investors are so bullish on SeaMoney and why SeaMoney is a monster lurking in the shadows.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0eb814b800c3121e3fb8cd0913f239d5\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: e-Conomy SEA 2021</span></p><p>As you can see, Sea is at the forefront of three megatrends which should propel the business forward from here. Also, combining the different verticals in the same platform would present a significant synergistic opportunity as Sea establishes itself as a SuperApp in the making.</p><p><b>Revenue Model</b></p><p>As mentioned previously, Sea operates three main business segments.</p><p><b>Digital Entertainment</b></p><p>Garena operates a freemium model whereby users can download and play games for free. The company generates revenue by selling in-game virtual items such as clothing, weaponry, or equipment.</p><p>Investors should take note of how revenue is recognized for this segment. According to Sea&#39;s 10-K:</p><blockquote>Proceeds from these sales are initially recognized as “Advances from customers” and subsequently reclassified to “Deferred revenue” when the users make in-game purchases of the virtual currencies or virtual items within the games operated by the Company and the in-game purchases are no longer refundable.</blockquote><p>Garena also licenses games from other game developers. Revenue is generated based on revenue-sharing/royalty agreements with these developers. Revenue is recognized over the performance obligation period.</p><blockquote>Such delivery obligation period is determined in accordance with the estimated average lifespan of the virtual goods sold or estimated average lifespan of the paying users of the said games or similar games.</blockquote><p><b>E-commerce</b></p><p>Shopee generates revenue through a marketplace model. Sellers on the platform pay Shopee based on paid advertisement services, transaction-based fees, logistics services, and other value-added services.</p><p>Shopee also generates revenue from goods sold directly by Shopee, which the company purchases in bulk from manufacturers or third-party suppliers.</p><p><b>Digital Financial Services</b></p><p>SeaMoney revenue consists of:</p><ul><li>Interest and fees from loans granted to commercial customers</li><li>Interest and fees from Sea&#39;s consumer credit business such as SPayLater</li><li>Commissions charged to merchants when a customer pays using SeaMoney&#39;s mobile wallet</li></ul><p><b>Income Statement</b></p><p>Let&#39;s analyze each of the business segments and then look at the entire Group as a whole.</p><p><b>Digital Entertainment</b></p><p>Garena Revenue saw a 104% increase YoY in Q4. For the full year, Garena Revenue was up 114% YoY.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/998dfbcf3f3dba11b8f8722710c36ba4\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The rapid increase in Revenue was primarily due to recognition of accumulated deferred revenue from previous quarters. Bookings—which is essentially GAAP Revenue plus the change in digital entertainment deferred revenue —actually dropped for the first time QoQ and it is now lower than Revenue. This means that gamers are spending less on in-virtual items which will lead to lower Revenue recognized in subsequent quarters. As you can see, Bookings is in a massive deceleration.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e06de5e6066b66cd5596a445cd912c98\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The drop in Bookings was due to fewer gamers in the platform as the economy reopens and people spend more time outdoors, at school, or in the office. Quarterly Active Users, or QAUs, grew only 7% in Q4 to 652 million, compared to Q3&#39;s QAUs of 729 million.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c5bdd570a9eb859a9fef8569c9fad10a\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>As a result, Quarterly Paying Users, or QPUs, decelerated as well, which led to lower Bookings. Q4 QPUs was 77 million compared to Q3&#39;s 93 million.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/092c4a2f47b9336f2753b4548707b39f\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The markets reacted negatively to this slowdown in Garena growth as the gaming business acts as the lifeline for Sea&#39;s two other segments. As you can see, Garena is a high-margin business, producing Adjusted EBITDA of $2.7 billion in FY2021. Operating Margin is very high at 61% in Q4. AEBITDA margin, on the other hand, is trending downwards as QoQ adds in Bookings wither.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f28c9f35ee55afb5c7d170a80d26ebf2\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>As such, the slowdown in growth for Garena is scaring investors away as it may not provide sufficient cash flow to fund the continued growth of Shopee and SeaMoney.</p><p><b>E-Commerce</b></p><p>Shopee GMV continues its upward march as e-commerce continues to gain traction in Shopee&#39;s existing and newer markets. However, we&#39;re also seeing a deceleration in growth due to tough YoY comps. GMV in FY2021 was $62.5 billion, an increase of 77%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f657f7cacc9e00bc57df0e913fdb9ae\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>GMV growth was also due to an increase in Orders in the Shopee platform, which totaled 6.1 billion in FY2021, an increase of 117%. Average Order Value, or AOV, however, is trending downwards. This may be perceived negatively as processing more lower-AOV orders meant higher logistical expenses and thus lower margins per order.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fbc7f044de03ec379f262a5bfcdf331\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The increase in GMV translated to higher Shopee Revenue, which grew faster than GMV. Shopee Revenue grew 136% to $5.1 billion in FY2021, as compared to GMV growth of 77%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/27710dc2140a6d139900819f51bd688a\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The faster growth in Revenue was due to Shopee&#39;s increasing take rate, which displays Shopee&#39;s ability to monetize its marketplace platform. This is one of the only few positive developments coming out of the most recent earnings update.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e4267bc5d33a2153e8624f73ed71540\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Despite the improving Revenue and take rate, Shopee is still suffering huge losses and it is mounting with each subsequent quarter, primarily due to the company expanding into new markets. FY2021 Shopee AEBITDA was $(2.6) billion at a -50% margin. Recall that Garena AEBITDA was $2.7 billion.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9d27cef61bc9a9058233f7eccc5eaa1\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>AEBITDA per Order has been improving, although it flat-lined in the last few quarters. Again, this is due to the company aggressively expanding into new markets. For example, in Q4, Shopee Brazil recorded 140+ million gross orders with a $70+ million Revenue, up 400% and 326%, respectively. However, AEBITDA per Order in Brazil is still negative at $(2) per Order, despite being a 40% improvement from last year. As such, it is still a far cry from the overall AEBITDA per Order of $(0.45).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c0d6aa930a81ea4fc153b7134dbf9d3\" tg-width=\"640\" tg-height=\"432\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>On the bright side, in Southeast Asia and Taiwan, Q4 AEBITDA per Order before &#34;allocation of the headquarters’ common expenses&#34; was $(0.15), an improvement from last year&#39;s $(0.21). This shows that there is certainly hope for Shopee to be AEBITDA positive soon, which management has pointed out during the Q4 earnings call:</p><blockquote>We currently expect Shopee to achieve positive adjusted EBITDA before HQ cost allocation in Southeast Asia and Taiwan by this year. We also expect SeaMoney to achieve positive cash flow by next year. As a result, we currently expect that by 2025 cash generated by Shopee and SeaMoney proactively will enable these two businesses to substantially self-fund their own long-term growth.</blockquote><p><b>Digital Financial Services</b></p><p>SeaMoney&#39;s Mobile Wallet Total Payment Volume grew 120% YoY to $17.2 billion in FY2021 due to the increasing adoption of mobile wallets in the region.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4fa5ef6efa513d9040963fda42b4b9f2\" tg-width=\"640\" tg-height=\"432\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The growth in TPV was largely driven by the growth in QAUs. As shown below, the total ending QAUs in Q4 grew 90% YoY to 45.8 million users.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9397aec066366f40ec92c24187347a44\" tg-width=\"640\" tg-height=\"432\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The real exciting part is that Revenue grew much faster than TPV and QAUs. SeaMoney Revenue is growing at a blistering pace, locking in high triple-digit growth rates over the last few years. FY2021 SeaMoney Revenue was $470 million, which is an increase of 673% from the previous year. This is due to take rates increasing from less than 1% in FY2020 to almost 4% by the end of the latest quarter.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dcaf6046cf3c27e00b233a8428eb2d75\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Furthermore, in Indonesia, over 20% of the QAUs have used more than one SeaMoney product or service, which includes credit services, digital banking, and insurance. As SeaMoney introduces more offerings, revenue should accelerate meaningfully as average revenue per user increases when people use additional products.</p><p>As SeaMoney continues to gain scale, the segment will enjoy better unit economics. As shown below, while SeaMoney&#39;s AEBITDA is still in deeply negative territories, AEBITDA Margins has continued to trend towards profitability. Management also expects SeaMoney to be cash flow positive by next year.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/51f0d5a1800fef748694417e8cb8fc9f\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>This is the segment that investors should pay special attention to, given that it has the potential to be Sea&#39;s second cash cow. For example, PayPal has Operating Margins of 20%+, which could be SeaMoney&#39;s long-term margin profile.</p><p><b>Group</b></p><p>With that said, let&#39;s take a look at how the business is doing as a whole.</p><p>FY2021 Revenue was $10.0 billion, an increase of 128% YoY. Due to the law of large numbers and tough YoY comps, Revenue growth should decelerate from here.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/38de60bd773f3ef7afc4b2e28aa1c08f\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Here, we can see how Revenue is distributed across the different segments.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a86e59478db8a3a4fdc85897f24410e9\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>What&#39;s encouraging is that Gross Profit Margins continue to trend upwards as the company gains economies of scale, even accounting for Shopee&#39;s aggressive expansion into new markets. FY2021 Gross Profit was $3.9 billion, up 189% YoY.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dd978ba4047cc6e20ac6086ba8420a8f\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Operating Expenses, however, remain elevated as management forgoes short-term profitability for long-term market dominance. FY2021 Total Operating Expenses were $5.5 billion. Below shows the different components of Operating Expenses as a percentage of Revenue.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fbdbde2c2ae744f36f8168ed32f94d62\" tg-width=\"640\" tg-height=\"419\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Most of the Operating Expenses were used for Sales &amp; Marketing purposes. Unsurprisingly, Shopee had the highest S&amp;M burn rate. Discounts, cashback, celebrity promotions... they&#39;re everywhere.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5253f186120da17c4cd901e5c442bd1e\" tg-width=\"640\" tg-height=\"419\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>As a result, Operating Profit Margins is still negative, although it is trending in the right direction.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a27b7833551107397c44acefc5ad2475\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>AEBITDA, on the other hand, is plunging. This is due to Garena&#39;s falling Bookings and Shoppe&#39;s widening losses. AEBITDA for FY2021 was $(594) million, compared to FY2020 positive AEBITDA of $107 million. This is probably the most concerning figure for investors as such a high cash burn rate is unsustainable, which may also lead to additional capital raises that are dilutive to shareholders.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d89fb95f74e23e85f8932870c0190bee\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The guidance did not help either. Garena Bookings is expected to fall to just $3 billion, which is $1.3 billion lower than FY2021&#39;s number. Management blamed the reopening of the economy as well as the ban of Free Fire in India for the expected drop in Bookings. Assuming a modest 50% AEBITDA margin, Garena would bring in just $1.5 billion of AEBITDA for Sea in FY2022.</p><p>On the other side, the other two segments are expected to continue with their immense pace of growth — Shopee and SeaMoney are expected to grow by 76% and 155%, respectively. If we assume a (50)% AEBITDA margin for both segments, Shopee and SeaMoney is expected to burn a total of about $(5.1) billion of AEBITDA. Adding Garena&#39;s estimated AEBITDA of $1.5 billion, Sea, as a Group, is expected to burn $(3.6) billion in FY2021.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ae5e9399a838e5f841dcccaffbe673d8\" tg-width=\"640\" tg-height=\"357\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited FY2021 Q4 Investor Presentation</span></p><p>Because Garena is such an important piece of Shopee&#39;s and SeaMoney&#39;s growth story, a deceleration in Garena&#39;s business had investors reacting so negatively to Sea&#39;s latest earnings release, as now, the gaming business is incapable of covering the massive losses incurred by the other two business segments.</p><p><b>Balance Sheet</b></p><p>Sea&#39;s balance sheet position as of year-end FY2021 is at about $10.2 billion of Cash and Short Term Investments. While this may show that Sea has a substantial cushion against its short-term cash burn rate, its net cash position paints a different picture.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dc30ee494abc2eda3b75434b96e4a66b\" tg-width=\"640\" tg-height=\"357\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited FY2021 Q4 Investor Presentation</span></p><p>Adjusting for Sea&#39;s debt, Sea ended the year with a net cash position of around $5.9 billion. A substantial amount of its total debt comes from its recent issuance of 0.25% Convertible Senior Notes due 2026. The notes were issued when the stock was trading at $318 per share back in September and the initial conversion price is set at $477 per share. So, yes... conversion in the next 2 to 3 years is very unlikely.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8d3d0030e6518cc4198245f624cc75e1\" tg-width=\"640\" tg-height=\"437\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>With net cash of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won&#39;t be long before Sea requires another cash infusion. Therefore, if the high cash burn rate persists for the next 2 to 3 years, investors face a major risk of increasing financial leverage and/or dilution in the form of equity raises.</p><p><b>Cash Flow Statement</b></p><p>Here is what cash flow looks like over the last few quarters. Notice how Operating Cash Flow turned negative in the last quarter. Most of the cash also comes from Financing activities.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a0aba061277a1410bb9f3dc176ea0115\" tg-width=\"640\" tg-height=\"263\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Unlike other high-flying growth companies, Sea&#39;s Share-Based Compensation expenses are relatively low.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/81fa229682c8880d6edd35535ef6a747\" tg-width=\"640\" tg-height=\"419\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p><b>Competitive Moats</b></p><p>Based on my research and analysis, I identified three key competitive moats for Sea: brand, network effects, and barriers to entry. I used to think that Sea has cost advantages but as Garena becomes a smaller part of the overall business, and as losses continue to worsen, I have reason to believe that Sea no longer holds that moat.</p><p><b>Brand</b></p><p>As discussed in previous sections, Garena&#39;s games, particularly Free Fire, have consistently ranked as the most downloaded mobile game in the world. Additionally, the Shopee app has gained cross-border stardom and is now regarded as the most downloaded or fastest-trending shopping App in the countries it operates in. Lastly, SeaMoney is also gaining traction with banking licenses granted in various countries that should increase brand value and trust.</p><p><b>Network Effects</b></p><p>The sheer amount of app downloads leads to powerful network effects. Garena has 652 million QAUs, which is about 8% of the world&#39;s population. Shopee recorded 200+ million app downloads in FY2021 alone. SeaMoney QAUs topped 45.8 million in Q4 and it is still in the early stages of adoption.</p><p>With all these users in the Sea platform, cross-selling new products or services should be easier as Sea continues to scale. One such example is Shopee Brazil and Free Fire where each platform is encouraging consumers to use the other. As Sea continues to innovate and offer better experiences for its customers, the ecosystem gets bigger and tighter, leading to powerful network effects.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c641ac08707cc868b9e6004e2deaf950\" tg-width=\"1200\" tg-height=\"600\" referrerpolicy=\"no-referrer\"/><span>Source: Shopee Brazil</span></p><p><b>Barriers To Entry</b></p><p>I believe each of Sea&#39;s core businesses is operating in a winner-takes-most environment with high barriers to entry.</p><p>The mobile gaming environment requires the most talented developers to launch blockbuster games. Garena&#39;s Free Fire is certainly a blockbuster game and time in Free Fire&#39;s game means time away from other mobile games.</p><p>Just like how Amazon (AMZN) dominates in the US, the e-commerce landscape in Southeast Asia and Latin America is dominated by a few players, such as Shopee, Tokopedia, and <a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a> (MELI). The scale and unit economics that these players have achieved makes it unsustainable for new entrants to compete with them.</p><p>Banking and fintech is also a highly-regulated environment. Furthermore, consumers prefer to have just one mobile wallet, such as ShopeePay, as opposed to owning several different fintech applications.</p><p><b>Valuation</b></p><p>Based on my sum-of-the-parts and comparable company valuation analysis, Sea looks to be slightly undervalued with 19% upside potential. Of course, comparables are not perfect but based on this, we can gauge where Sea stands among peers.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f2400cd917e5f6ce8c47ef74a8062093\" tg-width=\"640\" tg-height=\"353\" referrerpolicy=\"no-referrer\"/><span>Source: Author&#39;s Analysis</span></p><p>On the flip side, Sea looks extremely cheap on a historical basis. In terms of EV/Sales, Sea is trading at the lowest valuation since its IPO, trading at just 4.2x forward sales.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bed1fd805a89523bbb8fa982bee40079\" tg-width=\"640\" tg-height=\"427\" referrerpolicy=\"no-referrer\"/><span>Source: Koyfin</span></p><p>In terms of EV/Gross Profit, Sea is trading even cheaper than its March 2020 lows.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fdf589a808c84131e9c36aa7b65a5129\" tg-width=\"640\" tg-height=\"427\" referrerpolicy=\"no-referrer\"/><span>Source: Koyfin</span></p><p>The valuation compression is warranted given that the company flew too close to the sun and now it is cratering back to the sea — not just for Sea, but almost all growth stocks took a beating. Growth is also slowing down and the macroeconomic environment looks gloomier than ever. However, this is not the end of the world; I think the markets are overreacting. Diversion from the mean goes both ways — perhaps, current prices present a good margin of safety for long-term investors.</p><p><b>Catalysts</b></p><ul><li><b>Successful International Expansion</b> — Shopee has been successful in replicating its playbook from Southeast Asia to Brazil. Recently, Shopee launched operations in India, Mexico, Chile, Colombia, Argentina, Poland, and Spain. If Shopee can take substantial market share in these new regions, Shopee&#39;s growth could turn exponential.</li><li><b>The Metaverse</b> — Sea&#39;s withering gaming division needs to be revitalized. New games and features could definitely provide the boost that it needs. For example, the metaverse is an exciting opportunity and Garena could introduce this concept to its 600+ million QAUs. Sea AI Lab (SAIL) and Sea Capital are two ventures that could accelerate the company into emerging industries, including the metaverse.</li></ul><blockquote>We will continue to encourage user-generated content by enhancing greater features and accessibility. We believe that a strong user reception to Craftland is a positive indicator of the initial success to encourage user participation in content creation and to build Free Fire into an increasingly open platform and is well aligned with major emerging industry trends such as metaverse.</blockquote><ul><li><b>Regional SuperApp</b> — Although this concept has yet to be discussed by management, launching a regional SuperApp could enhance user engagement to new levels. For example, imagine Shopee users being able to play games, shop, order food delivery, pay for services, transfer money, invest, all under one app. Imagine users being able to convert their deposited funds in ShopeePay, into ShopeeCoins, and use it to perform cross-border transactions.</li><li><b>Continued Growth In SeaMoney</b> — SeaMoney is still in its early stages and continued adoption of Sea&#39;s digital financial services offerings will be a strong addition to Sea&#39;s bull thesis. SPayLater has real potential to disrupt the consumer credit industry. SeaBank and ShopeePay have the opportunity to capture digital wallet, digital banking, and cashless society trends.</li><li><b>Free Fire India Ban Lift</b>— Garena&#39;s weak guidance factored in the headwinds coming from the ban in India. If the ban is lifted, the stock may react positively as much of Sea&#39;s cash burn problems may be eliminated.</li></ul><p><b>Risks</b></p><ul><li><b>The Pressure to Launch Blockbuster Games</b>— There will come a time when Free Fire will be dethroned as the most-played and most-downloaded game. That is just how the gaming business works. This puts a substantial risk on the cash flow generation potential of Garena. Launching blockbuster games is never easy and it requires many trials and errors along the way. For me, I would like to see Garena shift to a gaming franchise model where the company launches an updated version of an existing game every year or two, which presents a more stable and recurring revenue stream for the company. An example would be FIFA or Call of Duty.</li><li><b>Shopee India Ban</b> — With Free Fire banned in India, there&#39;s also the potential for Shoppe to be banned as well.</li><li><b>Failure to Gain Traction in International Markets</b>— Shopee pulled out of France in early March, an indication that Shoppe&#39;s business model is not replicable in other countries, especially in more developed regions. Shopee Poland and Spain may be next on the exit list as they hold a close resemblance to France.</li><li><b>Geopolitical Risks</b>— Tencent, a Chinese company, has an 18.7% equity stake in Sea. Sanctions, bans, and other restrictions on Chinese companies, given the current geopolitical environment, could spell trouble for Sea. Tencent may have to cut exposure on Sea or even dissolve its developing-publishing partnership with Garena.</li><li><b>Local Competition</b>— Local champions operating in their respective markets cannot be ignored. These include GoTo in Indonesia, MercadoLibre in Latin America, and Flipkart in India.</li></ul><p>In addition, there&#39;s a certain level of pride for consumers to see their native-born companies succeed. I&#39;m Indonesian, and it makes me really happy to see GoTo grow and grow.</p><p>GoTo, the holding company of both Indonesian tech darlings Gojek and Tokopedia, recently announced its plan to IPO in the Indonesia Stock Exchange. Here&#39;s a glance of GoTo&#39;s stats for the 12-months ended 30 September 2021:</p><ul><li>Valuation: $26.2 billion to $28.8 billion</li><li>GMV: $28.8 billion</li><li>Revenue: $1 billion</li><li>Gross Orders: 2 billion</li><li>Annual Transacting Users: 55 million</li><li>Driver Partners: 2.5 million</li><li>Merchants: 14 million</li></ul><p>The point is that there are big-time local players operating in Sea&#39;s markets that investors should never ignore. Here&#39;s a little snippet from my previous Shopee article:</p><blockquote>But with the GoTo merger, Indonesia could potentially extinguish the orange flame that charred its forest for many years. Now, GoTo could finally reclaim a good chunk of its territory that was lost to waves of competition, especially from Shopee. GoTo could finally gain more ground as the roots grew even stronger with the merger, fertilized with the synergies of value propositions, logistics, payments, and banking solutions.</blockquote><blockquote>Meanwhile, Sea Limited&#39;s stock continues to soar, ignoring the titan of an elephant in the room. And because of GoTo&#39;s integration, Shopee&#39;s vertically-integrated business model doesn&#39;t look like a strong competitive advantage anymore.</blockquote><p><b>Conclusion</b></p><p>Each of Sea&#39;s core businesses is in hypergrowth mode, propelled by megatrends in the mobile gaming, e-commerce, and fintech industry. Management understands these opportunities and therefore, is sacrificing short-term profitability for long-term market dominance. Despite being a larger business, Sea still has a massive growth runway ahead.</p><p>That is not to say that unprofitability and competition risks can and should be ignored. The biggest concern for investors is the company&#39;s unsustainable cash burn rate, which will likely lead to further capital raises in the near future.</p><p>Nonetheless, the long-term growth thesis for the three-headed monster remains intact. Strong brand, network effects, and barriers to entry moats should support the business going forward. In addition, shares of Sea are trading at the lowest valuation multiples ever, which presents a good margin of safety for an entry at these prices.</p><p>Thank you for reading my Sea Limited deep dive. If you enjoyed the article, please let me know in the comment section down below. If you have any suggestions or feedback, don&#39;t hesitate to share your thoughts as well.</p></body></html>","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>Sea Limited: The Three-Headed Monster</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\">\nSea Limited: The Three-Headed Monster\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-19 09:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4496480-sea-limited-the-three-headed-monster><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryGarena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but Bookings are expected to fall sharply in FY2022.In addition, Shopee's losses are widening. However, ...</p>\n\n<a href=\"https://seekingalpha.com/article/4496480-sea-limited-the-three-headed-monster\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4496480-sea-limited-the-three-headed-monster","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2220777059","content_text":"SummaryGarena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but Bookings are expected to fall sharply in FY2022.In addition, Shopee's losses are widening. However, the e-commerce segment is expected to be self-funded by 2025. This is achievable as take rates are trending in the right direction.SeaMoney is also gaining traction at an unprecedented pace, a monster lurking in the shadows. Investors should pay attention as this segment could serve as Sea's second cash cow.With a net cash position of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won't be long before Sea requires another cash infusion.Despite unprofitability risks, Sea has a strong brand, network effects, and barriers to entry moats. The stock is trading at the lowest multiple ever - it is worth a nibble at these prices.undefined undefined/iStock via Getty ImagesI've been following Sea Limited ADR (NYSE:SE) for quite some time now and the stock got me interested again given the recent 75% selloff. Today, I'm doing a deep dive on the three-headed monster (and each of its heads) to see if the company is a good investment opportunity at these levels. Let's get started!Investment ThesisSea is at the forefront of the internet revolution in developing regions. This had many investors buying into the growth story of the company, sending shares soaring high into the sun for the better part of 2020 and 2021. However, the stock has cratered back to sea amid concerns about the company's slowing growth, especially for its only cash cow, Garena. To make matters worse, Shopee's losses are also getting worse.The Group's cash burn rate is still high, estimated to be $(3.6) billion in FY2022. With a net cash position of $5.9 billion, future capital raises are very likely.On the bright side, Sea still has a long growth runway ahead, solidified by its leadership positions in Southeast Asia and Latin America. SeaMoney, although still unprofitable, could also emerge as Sea's second cash cow.Despite unprofitability and competitive risks, Sea has strong competitive moats and it is trading at the cheapest valuation multiples since its IPO.The three-headed monster is a Buy at these levels.Value PropositionFounded in Singapore in 2009, Sea has grown to become the leading consumer internet company in the world, with a substantial presence in the Southeast Asian region.Mission: To better the lives of consumers and small businesses with technology.Sea is a holding company for three core businesses: Garena, Shopee, and SeaMoney. Sea's main value proposition is providing a vertically-integrated experience through its different core businesses.GarenaIts digital entertainment division, Garena, was Sea's first business venture. In fact, Sea was originally named Garena Interactive Holding Limited before changing its name to Sea Limited in 2017.Garena is one of the largest online games developers and publishers, releasing some of the most successful mobile and PC games over the last decade. For example, Garena's Free Fire, its self-developed mobile battle royale game, topped the global download charts for the last three years. According to data.ai, Free Fire also ranked second globally by average monthly active users on Google Play in 2021. In Southeast Asia and Latin America, Free Fire was the highest-grossing mobile game for ten consecutive quarters, and in the US for four consecutive quarters. Based on Sensor Tower's findings, Free Fire still holds the most downloads globally as of January 2022.Source: SensorTowerGarena also exclusively licenses and publishes games from global partners and third-party developers. Some of these partners include Tencent (OTCPK:TCEHY), Activision (ATVI), and Arumgames. Games like Speed Drifters, Arena of Valor, and Fantasy Town fall into this category as they are co-developed with partners or licensed from partners.In addition, Garena organizes some of the largest e-sports events from local tournaments to professional competitions at a global level. Moreover, Garena offers other entertainment content such as live-streaming, user chat, and online forums.ShopeePerhaps the most exciting business segment is Sea's mobile-centric e-commerce platform, Shopee. Launched in 2015, Shopee is now one of the fastest-growing e-commerce marketplaces with a strong presence in Southeast Asia, as well as growing recognition in Latin America and some European countries.Source: ShopeeThrough the Shopee platform, buyers can purchase items from sellers which are primarily small and medium businesses (or mom-and-pop stores). At the same time, larger, more established retailers like Xiaomi (OTCPK:XIACF), Microsoft (MSFT), or Samsung (OTC:SSNLF) can leverage Shopee's two premium shopping platforms, Shopee Mall and Shopee Premium.Along with Shopee's e-commerce marketplace, Shopee also offers adjacent products and services for both buyers and sellers:Service by Shopee - Value-added services for sellers such as integrated payment, logistics, fulfillment, seller support, inventory management, and online store operations.BuyerProtection - Consumer protection policies and procedures including seller verification, product listing screening, and dispute resolution. In addition, Shopee Guarantee reduces settlement risks by holding customers' funds in a separate account until delivery is complete, where funds will be released to buyers.Integrated Logistics Services- Shopee partners with various local and regional third-party logistics service providers to provide a seamless last-mile delivery experience for both buyers and sellers. Shopee also has its own delivery service called Shopee Xpress.Social Features - Shopee also offers other social and gamification features, including Shopee Coins (virtual currency), Shopee Live (livestream), Shopee Games (in-app games), and Shopee Feed (similar to Instagram).On-demand Services- Shopee also recently launched on-demand services such as ShopeeFood, instant delivery, and groceries, competing directly with Grab (GRAB), Gojek, and Uber (UBER).Shopee's scale is unmatched and it is still growing at an unprecedented pace. According to data.ai, Shopee in Southeast Asia and Taiwan ranked first in average monthly active users and total time spent in the app in 2021. Shopee Indonesia, arguably Shopee's most important market, ranked first in the Shopping category. Shopee Brazil, which launched in October 2019, was also ranked first in the Shopping category. And globally, Shopee ranked first in the Shopping category, and is the #13 most downloaded app regardless of category, logging in 200+ million downloads in 2021.Source: SensorTowerSeaMoneySeaMoney was launched in 2014 and is now one of the leading digital financial services providers in Sea's operating countries. SeaMoney offers mobile wallet services, payment processing, credit, and other digital financial services. These services are offered under SeaMoney's various brands including AirPay, ShopeePay, SPayLater, and other local brands depending on the country. SeaMoney was initially launched in Vietnam and Thailand but has since expanded to other regions.Through SeaMoney's mobile wallet offerings, consumers and merchants have added flexibility in terms of payment options, whether through online or offline means. The launch of SPayLater, which is basically a \"buy now pay later\" payment option, enables consumers to purchase items without accessing credit. For those who are interested, I've written a deep dive on Affirm (AFRM) where I discuss the main value propositions that BNPL provides.SeaMoney has obtained bank licenses and government approvals to provide financial services in various countries. For example, Sea acquired Bank Kesejahteraan Ekonomi in Indonesia back in early 2021 as a push towards offering a digital banking solution. The company is now rebranded to SeaBank, which currently offers a high-yield savings account and virtual account.Source: SeaBank WebsiteSeaMoney's main value proposition lies in offering a mobile wallet and payment solutions that are integrated with Sea's other businesses, namely Garena and Shopee, enabling consumers and merchants to transact seamlessly in one vertically-integrated platform.Market OpportunitySea's market opportunity is predicated around the industry outlook of each of its business segments: mobile gaming, e-commerce, and fintech. Let's take a look at each industry that Sea operates in.First, we have the mobile gaming industry. According to data.ai, Mobile Game Consumer Spend grew from $74 billion in 2018 to $116 billion in 2021, while Mobile Game Downloads grew from 63 billion in 2018 to 83 billion in 2021. Among the Top Genres by Downloads were Hypercasual games such as Hair Challenge and Water Sort Puzzle. However, the Top Genres by Consumer Spend belong to the Strategy, RPG, and Shooting categories where Garena specializes in. For example, Free Fire was the top Shooting game by revenue in Thailand, Brazil, Mexico, and the US, in 2021. Globally, however, it is still behind PUBG Mobile, which generates the bulk of its revenue from China.Source: SensorTowerAccording to Adjust, the mobile gaming industry is expected to reach $272 billion by 2030, which is about 1.5x of 2021's total figure. Given Garena's successes in monetizing its games, Garena should continue to enjoy gaming tailwinds in the foreseeable future, provided that its games remain in trend. This is also supported by Unity's findings that the APAC region is the fastest-growing regional market, a market that Garena dominates in.Moving on to e-commerce, we all know that e-commerce is growing rapidly and that its market share as a whole will continue to trend up from here. This is especially true for the Southeast Asian region where internet and smartphone adoption continues to increase by the day. Based on the e-Conomy SEA report, Southeast Asia now has 440 million internet users, up from 360 million in 2019. Its total population is about 589 million.Internet Gross Merchandise Value, or GMV, for the region was $170 billion in 2021 and is expected to reach $360 billion by 2025 with e-commerce leading the charge. The shift to e-commerce is not only happening on the consumer side but also on the merchant side. Digital marketing tools, analytical tools, and digital payment solutions have accelerated business for merchants. Shopee's vertically-integrated platform also makes it easy for merchants in these developing countries to set up shop, distribute goods, and accept payments in a single platform.Source: e-Conomy SEA 2021Furthermore, Sea has recently expanded its e-commerce operations to other regions such as Latin America and Europe, which further expands its market opportunity.Lastly, we have the fintech industry pertaining to SeaMoney. In my PayPal (PYPL) deep dive, I discussed the growth of mobile wallets as a payment method in both online and offline transactions. The shift to a cashless and cardless society is inevitable and that is also true for Sea's markets.Source: Ark Invest Big Ideas 2022As you can see below, mobile wallets continue to gain traction in Southeast Asia. In addition, 92% of digital merchants intend to maintain usage or increase usage of digital payments in the next 1 to 2 years. ShopeePay and SeaMoney's other brands will benefit from this trend. Also of important note, SeaMoney's expansion to buy now pay later with SPayLater will be a key GMV and revenue driver for the segment. These are the reasons why some investors are so bullish on SeaMoney and why SeaMoney is a monster lurking in the shadows.Source: e-Conomy SEA 2021As you can see, Sea is at the forefront of three megatrends which should propel the business forward from here. Also, combining the different verticals in the same platform would present a significant synergistic opportunity as Sea establishes itself as a SuperApp in the making.Revenue ModelAs mentioned previously, Sea operates three main business segments.Digital EntertainmentGarena operates a freemium model whereby users can download and play games for free. The company generates revenue by selling in-game virtual items such as clothing, weaponry, or equipment.Investors should take note of how revenue is recognized for this segment. According to Sea's 10-K:Proceeds from these sales are initially recognized as “Advances from customers” and subsequently reclassified to “Deferred revenue” when the users make in-game purchases of the virtual currencies or virtual items within the games operated by the Company and the in-game purchases are no longer refundable.Garena also licenses games from other game developers. Revenue is generated based on revenue-sharing/royalty agreements with these developers. Revenue is recognized over the performance obligation period.Such delivery obligation period is determined in accordance with the estimated average lifespan of the virtual goods sold or estimated average lifespan of the paying users of the said games or similar games.E-commerceShopee generates revenue through a marketplace model. Sellers on the platform pay Shopee based on paid advertisement services, transaction-based fees, logistics services, and other value-added services.Shopee also generates revenue from goods sold directly by Shopee, which the company purchases in bulk from manufacturers or third-party suppliers.Digital Financial ServicesSeaMoney revenue consists of:Interest and fees from loans granted to commercial customersInterest and fees from Sea's consumer credit business such as SPayLaterCommissions charged to merchants when a customer pays using SeaMoney's mobile walletIncome StatementLet's analyze each of the business segments and then look at the entire Group as a whole.Digital EntertainmentGarena Revenue saw a 104% increase YoY in Q4. For the full year, Garena Revenue was up 114% YoY.Source: Sea Limited Investor Relations and Author's AnalysisThe rapid increase in Revenue was primarily due to recognition of accumulated deferred revenue from previous quarters. Bookings—which is essentially GAAP Revenue plus the change in digital entertainment deferred revenue —actually dropped for the first time QoQ and it is now lower than Revenue. This means that gamers are spending less on in-virtual items which will lead to lower Revenue recognized in subsequent quarters. As you can see, Bookings is in a massive deceleration.Source: Sea Limited Investor Relations and Author's AnalysisThe drop in Bookings was due to fewer gamers in the platform as the economy reopens and people spend more time outdoors, at school, or in the office. Quarterly Active Users, or QAUs, grew only 7% in Q4 to 652 million, compared to Q3's QAUs of 729 million.Source: Sea Limited Investor Relations and Author's AnalysisAs a result, Quarterly Paying Users, or QPUs, decelerated as well, which led to lower Bookings. Q4 QPUs was 77 million compared to Q3's 93 million.Source: Sea Limited Investor Relations and Author's AnalysisThe markets reacted negatively to this slowdown in Garena growth as the gaming business acts as the lifeline for Sea's two other segments. As you can see, Garena is a high-margin business, producing Adjusted EBITDA of $2.7 billion in FY2021. Operating Margin is very high at 61% in Q4. AEBITDA margin, on the other hand, is trending downwards as QoQ adds in Bookings wither.Source: Sea Limited Investor Relations and Author's AnalysisAs such, the slowdown in growth for Garena is scaring investors away as it may not provide sufficient cash flow to fund the continued growth of Shopee and SeaMoney.E-CommerceShopee GMV continues its upward march as e-commerce continues to gain traction in Shopee's existing and newer markets. However, we're also seeing a deceleration in growth due to tough YoY comps. GMV in FY2021 was $62.5 billion, an increase of 77%.Source: Sea Limited Investor Relations and Author's AnalysisGMV growth was also due to an increase in Orders in the Shopee platform, which totaled 6.1 billion in FY2021, an increase of 117%. Average Order Value, or AOV, however, is trending downwards. This may be perceived negatively as processing more lower-AOV orders meant higher logistical expenses and thus lower margins per order.Source: Sea Limited Investor Relations and Author's AnalysisThe increase in GMV translated to higher Shopee Revenue, which grew faster than GMV. Shopee Revenue grew 136% to $5.1 billion in FY2021, as compared to GMV growth of 77%.Source: Sea Limited Investor Relations and Author's AnalysisThe faster growth in Revenue was due to Shopee's increasing take rate, which displays Shopee's ability to monetize its marketplace platform. This is one of the only few positive developments coming out of the most recent earnings update.Source: Sea Limited Investor Relations and Author's AnalysisDespite the improving Revenue and take rate, Shopee is still suffering huge losses and it is mounting with each subsequent quarter, primarily due to the company expanding into new markets. FY2021 Shopee AEBITDA was $(2.6) billion at a -50% margin. Recall that Garena AEBITDA was $2.7 billion.Source: Sea Limited Investor Relations and Author's AnalysisAEBITDA per Order has been improving, although it flat-lined in the last few quarters. Again, this is due to the company aggressively expanding into new markets. For example, in Q4, Shopee Brazil recorded 140+ million gross orders with a $70+ million Revenue, up 400% and 326%, respectively. However, AEBITDA per Order in Brazil is still negative at $(2) per Order, despite being a 40% improvement from last year. As such, it is still a far cry from the overall AEBITDA per Order of $(0.45).Source: Sea Limited Investor Relations and Author's AnalysisOn the bright side, in Southeast Asia and Taiwan, Q4 AEBITDA per Order before \"allocation of the headquarters’ common expenses\" was $(0.15), an improvement from last year's $(0.21). This shows that there is certainly hope for Shopee to be AEBITDA positive soon, which management has pointed out during the Q4 earnings call:We currently expect Shopee to achieve positive adjusted EBITDA before HQ cost allocation in Southeast Asia and Taiwan by this year. We also expect SeaMoney to achieve positive cash flow by next year. As a result, we currently expect that by 2025 cash generated by Shopee and SeaMoney proactively will enable these two businesses to substantially self-fund their own long-term growth.Digital Financial ServicesSeaMoney's Mobile Wallet Total Payment Volume grew 120% YoY to $17.2 billion in FY2021 due to the increasing adoption of mobile wallets in the region.Source: Sea Limited Investor Relations and Author's AnalysisThe growth in TPV was largely driven by the growth in QAUs. As shown below, the total ending QAUs in Q4 grew 90% YoY to 45.8 million users.Source: Sea Limited Investor Relations and Author's AnalysisThe real exciting part is that Revenue grew much faster than TPV and QAUs. SeaMoney Revenue is growing at a blistering pace, locking in high triple-digit growth rates over the last few years. FY2021 SeaMoney Revenue was $470 million, which is an increase of 673% from the previous year. This is due to take rates increasing from less than 1% in FY2020 to almost 4% by the end of the latest quarter.Source: Sea Limited Investor Relations and Author's AnalysisFurthermore, in Indonesia, over 20% of the QAUs have used more than one SeaMoney product or service, which includes credit services, digital banking, and insurance. As SeaMoney introduces more offerings, revenue should accelerate meaningfully as average revenue per user increases when people use additional products.As SeaMoney continues to gain scale, the segment will enjoy better unit economics. As shown below, while SeaMoney's AEBITDA is still in deeply negative territories, AEBITDA Margins has continued to trend towards profitability. Management also expects SeaMoney to be cash flow positive by next year.Source: Sea Limited Investor Relations and Author's AnalysisThis is the segment that investors should pay special attention to, given that it has the potential to be Sea's second cash cow. For example, PayPal has Operating Margins of 20%+, which could be SeaMoney's long-term margin profile.GroupWith that said, let's take a look at how the business is doing as a whole.FY2021 Revenue was $10.0 billion, an increase of 128% YoY. Due to the law of large numbers and tough YoY comps, Revenue growth should decelerate from here.Source: Sea Limited Investor Relations and Author's AnalysisHere, we can see how Revenue is distributed across the different segments.Source: Sea Limited Investor Relations and Author's AnalysisWhat's encouraging is that Gross Profit Margins continue to trend upwards as the company gains economies of scale, even accounting for Shopee's aggressive expansion into new markets. FY2021 Gross Profit was $3.9 billion, up 189% YoY.Source: Sea Limited Investor Relations and Author's AnalysisOperating Expenses, however, remain elevated as management forgoes short-term profitability for long-term market dominance. FY2021 Total Operating Expenses were $5.5 billion. Below shows the different components of Operating Expenses as a percentage of Revenue.Source: Sea Limited Investor Relations and Author's AnalysisMost of the Operating Expenses were used for Sales & Marketing purposes. Unsurprisingly, Shopee had the highest S&M burn rate. Discounts, cashback, celebrity promotions... they're everywhere.Source: Sea Limited Investor Relations and Author's AnalysisAs a result, Operating Profit Margins is still negative, although it is trending in the right direction.Source: Sea Limited Investor Relations and Author's AnalysisAEBITDA, on the other hand, is plunging. This is due to Garena's falling Bookings and Shoppe's widening losses. AEBITDA for FY2021 was $(594) million, compared to FY2020 positive AEBITDA of $107 million. This is probably the most concerning figure for investors as such a high cash burn rate is unsustainable, which may also lead to additional capital raises that are dilutive to shareholders.Source: Sea Limited Investor Relations and Author's AnalysisThe guidance did not help either. Garena Bookings is expected to fall to just $3 billion, which is $1.3 billion lower than FY2021's number. Management blamed the reopening of the economy as well as the ban of Free Fire in India for the expected drop in Bookings. Assuming a modest 50% AEBITDA margin, Garena would bring in just $1.5 billion of AEBITDA for Sea in FY2022.On the other side, the other two segments are expected to continue with their immense pace of growth — Shopee and SeaMoney are expected to grow by 76% and 155%, respectively. If we assume a (50)% AEBITDA margin for both segments, Shopee and SeaMoney is expected to burn a total of about $(5.1) billion of AEBITDA. Adding Garena's estimated AEBITDA of $1.5 billion, Sea, as a Group, is expected to burn $(3.6) billion in FY2021.Source: Sea Limited FY2021 Q4 Investor PresentationBecause Garena is such an important piece of Shopee's and SeaMoney's growth story, a deceleration in Garena's business had investors reacting so negatively to Sea's latest earnings release, as now, the gaming business is incapable of covering the massive losses incurred by the other two business segments.Balance SheetSea's balance sheet position as of year-end FY2021 is at about $10.2 billion of Cash and Short Term Investments. While this may show that Sea has a substantial cushion against its short-term cash burn rate, its net cash position paints a different picture.Source: Sea Limited FY2021 Q4 Investor PresentationAdjusting for Sea's debt, Sea ended the year with a net cash position of around $5.9 billion. A substantial amount of its total debt comes from its recent issuance of 0.25% Convertible Senior Notes due 2026. The notes were issued when the stock was trading at $318 per share back in September and the initial conversion price is set at $477 per share. So, yes... conversion in the next 2 to 3 years is very unlikely.Source: Sea Limited Investor Relations and Author's AnalysisWith net cash of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won't be long before Sea requires another cash infusion. Therefore, if the high cash burn rate persists for the next 2 to 3 years, investors face a major risk of increasing financial leverage and/or dilution in the form of equity raises.Cash Flow StatementHere is what cash flow looks like over the last few quarters. Notice how Operating Cash Flow turned negative in the last quarter. Most of the cash also comes from Financing activities.Source: Sea Limited Investor Relations and Author's AnalysisUnlike other high-flying growth companies, Sea's Share-Based Compensation expenses are relatively low.Source: Sea Limited Investor Relations and Author's AnalysisCompetitive MoatsBased on my research and analysis, I identified three key competitive moats for Sea: brand, network effects, and barriers to entry. I used to think that Sea has cost advantages but as Garena becomes a smaller part of the overall business, and as losses continue to worsen, I have reason to believe that Sea no longer holds that moat.BrandAs discussed in previous sections, Garena's games, particularly Free Fire, have consistently ranked as the most downloaded mobile game in the world. Additionally, the Shopee app has gained cross-border stardom and is now regarded as the most downloaded or fastest-trending shopping App in the countries it operates in. Lastly, SeaMoney is also gaining traction with banking licenses granted in various countries that should increase brand value and trust.Network EffectsThe sheer amount of app downloads leads to powerful network effects. Garena has 652 million QAUs, which is about 8% of the world's population. Shopee recorded 200+ million app downloads in FY2021 alone. SeaMoney QAUs topped 45.8 million in Q4 and it is still in the early stages of adoption.With all these users in the Sea platform, cross-selling new products or services should be easier as Sea continues to scale. One such example is Shopee Brazil and Free Fire where each platform is encouraging consumers to use the other. As Sea continues to innovate and offer better experiences for its customers, the ecosystem gets bigger and tighter, leading to powerful network effects.Source: Shopee BrazilBarriers To EntryI believe each of Sea's core businesses is operating in a winner-takes-most environment with high barriers to entry.The mobile gaming environment requires the most talented developers to launch blockbuster games. Garena's Free Fire is certainly a blockbuster game and time in Free Fire's game means time away from other mobile games.Just like how Amazon (AMZN) dominates in the US, the e-commerce landscape in Southeast Asia and Latin America is dominated by a few players, such as Shopee, Tokopedia, and MercadoLibre (MELI). The scale and unit economics that these players have achieved makes it unsustainable for new entrants to compete with them.Banking and fintech is also a highly-regulated environment. Furthermore, consumers prefer to have just one mobile wallet, such as ShopeePay, as opposed to owning several different fintech applications.ValuationBased on my sum-of-the-parts and comparable company valuation analysis, Sea looks to be slightly undervalued with 19% upside potential. Of course, comparables are not perfect but based on this, we can gauge where Sea stands among peers.Source: Author's AnalysisOn the flip side, Sea looks extremely cheap on a historical basis. In terms of EV/Sales, Sea is trading at the lowest valuation since its IPO, trading at just 4.2x forward sales.Source: KoyfinIn terms of EV/Gross Profit, Sea is trading even cheaper than its March 2020 lows.Source: KoyfinThe valuation compression is warranted given that the company flew too close to the sun and now it is cratering back to the sea — not just for Sea, but almost all growth stocks took a beating. Growth is also slowing down and the macroeconomic environment looks gloomier than ever. However, this is not the end of the world; I think the markets are overreacting. Diversion from the mean goes both ways — perhaps, current prices present a good margin of safety for long-term investors.CatalystsSuccessful International Expansion — Shopee has been successful in replicating its playbook from Southeast Asia to Brazil. Recently, Shopee launched operations in India, Mexico, Chile, Colombia, Argentina, Poland, and Spain. If Shopee can take substantial market share in these new regions, Shopee's growth could turn exponential.The Metaverse — Sea's withering gaming division needs to be revitalized. New games and features could definitely provide the boost that it needs. For example, the metaverse is an exciting opportunity and Garena could introduce this concept to its 600+ million QAUs. Sea AI Lab (SAIL) and Sea Capital are two ventures that could accelerate the company into emerging industries, including the metaverse.We will continue to encourage user-generated content by enhancing greater features and accessibility. We believe that a strong user reception to Craftland is a positive indicator of the initial success to encourage user participation in content creation and to build Free Fire into an increasingly open platform and is well aligned with major emerging industry trends such as metaverse.Regional SuperApp — Although this concept has yet to be discussed by management, launching a regional SuperApp could enhance user engagement to new levels. For example, imagine Shopee users being able to play games, shop, order food delivery, pay for services, transfer money, invest, all under one app. Imagine users being able to convert their deposited funds in ShopeePay, into ShopeeCoins, and use it to perform cross-border transactions.Continued Growth In SeaMoney — SeaMoney is still in its early stages and continued adoption of Sea's digital financial services offerings will be a strong addition to Sea's bull thesis. SPayLater has real potential to disrupt the consumer credit industry. SeaBank and ShopeePay have the opportunity to capture digital wallet, digital banking, and cashless society trends.Free Fire India Ban Lift— Garena's weak guidance factored in the headwinds coming from the ban in India. If the ban is lifted, the stock may react positively as much of Sea's cash burn problems may be eliminated.RisksThe Pressure to Launch Blockbuster Games— There will come a time when Free Fire will be dethroned as the most-played and most-downloaded game. That is just how the gaming business works. This puts a substantial risk on the cash flow generation potential of Garena. Launching blockbuster games is never easy and it requires many trials and errors along the way. For me, I would like to see Garena shift to a gaming franchise model where the company launches an updated version of an existing game every year or two, which presents a more stable and recurring revenue stream for the company. An example would be FIFA or Call of Duty.Shopee India Ban — With Free Fire banned in India, there's also the potential for Shoppe to be banned as well.Failure to Gain Traction in International Markets— Shopee pulled out of France in early March, an indication that Shoppe's business model is not replicable in other countries, especially in more developed regions. Shopee Poland and Spain may be next on the exit list as they hold a close resemblance to France.Geopolitical Risks— Tencent, a Chinese company, has an 18.7% equity stake in Sea. Sanctions, bans, and other restrictions on Chinese companies, given the current geopolitical environment, could spell trouble for Sea. Tencent may have to cut exposure on Sea or even dissolve its developing-publishing partnership with Garena.Local Competition— Local champions operating in their respective markets cannot be ignored. These include GoTo in Indonesia, MercadoLibre in Latin America, and Flipkart in India.In addition, there's a certain level of pride for consumers to see their native-born companies succeed. I'm Indonesian, and it makes me really happy to see GoTo grow and grow.GoTo, the holding company of both Indonesian tech darlings Gojek and Tokopedia, recently announced its plan to IPO in the Indonesia Stock Exchange. Here's a glance of GoTo's stats for the 12-months ended 30 September 2021:Valuation: $26.2 billion to $28.8 billionGMV: $28.8 billionRevenue: $1 billionGross Orders: 2 billionAnnual Transacting Users: 55 millionDriver Partners: 2.5 millionMerchants: 14 millionThe point is that there are big-time local players operating in Sea's markets that investors should never ignore. Here's a little snippet from my previous Shopee article:But with the GoTo merger, Indonesia could potentially extinguish the orange flame that charred its forest for many years. Now, GoTo could finally reclaim a good chunk of its territory that was lost to waves of competition, especially from Shopee. GoTo could finally gain more ground as the roots grew even stronger with the merger, fertilized with the synergies of value propositions, logistics, payments, and banking solutions.Meanwhile, Sea Limited's stock continues to soar, ignoring the titan of an elephant in the room. And because of GoTo's integration, Shopee's vertically-integrated business model doesn't look like a strong competitive advantage anymore.ConclusionEach of Sea's core businesses is in hypergrowth mode, propelled by megatrends in the mobile gaming, e-commerce, and fintech industry. Management understands these opportunities and therefore, is sacrificing short-term profitability for long-term market dominance. Despite being a larger business, Sea still has a massive growth runway ahead.That is not to say that unprofitability and competition risks can and should be ignored. The biggest concern for investors is the company's unsustainable cash burn rate, which will likely lead to further capital raises in the near future.Nonetheless, the long-term growth thesis for the three-headed monster remains intact. Strong brand, network effects, and barriers to entry moats should support the business going forward. In addition, shares of Sea are trading at the lowest valuation multiples ever, which presents a good margin of safety for an entry at these prices.Thank you for reading my Sea Limited deep dive. If you enjoyed the article, please let me know in the comment section down below. If you have any suggestions or feedback, don't hesitate to share your thoughts as well.","news_type":1},"isVote":1,"tweetType":1,"viewCount":255,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9038020866,"gmtCreate":1646699954052,"gmtModify":1676534151852,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmmm","listText":"Hmmmm","text":"Hmmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9038020866","repostId":"1150798369","repostType":4,"repost":{"id":"1150798369","pubTimestamp":1646699470,"share":"https://www.laohu8.com/m/news/1150798369?lang=&edition=full","pubTime":"2022-03-08 08:31","market":"sg","language":"en","title":"Singapore Stocks to Watch: Keppel Reit, Singtel, SPH, Q&M Dental","url":"https://stock-news.laohu8.com/highlight/detail?id=1150798369","media":"businesstimes","summary":"THE following companies saw new developments that may affect trading of their securities on Tuesday ","content":"<div>\n<p>THE following companies saw new developments that may affect trading of their securities on Tuesday (Mar 8):Keppel Reit: (K71U) Its manager said it has received, from RBC Investor Services Trust ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/stocks/stocks-to-watch-keppel-reit-singtel-sph-qm-dental\">Web Link</a>\n\n</div>\n","source":"lsy1607307803821","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>Singapore Stocks to Watch: Keppel Reit, Singtel, SPH, Q&M Dental</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Stocks to Watch: Keppel Reit, Singtel, SPH, Q&M Dental\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-08 08:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/stocks/stocks-to-watch-keppel-reit-singtel-sph-qm-dental><strong>businesstimes</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>THE following companies saw new developments that may affect trading of their securities on Tuesday (Mar 8):Keppel Reit: (K71U) Its manager said it has received, from RBC Investor Services Trust ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/stocks/stocks-to-watch-keppel-reit-singtel-sph-qm-dental\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QC7.SI":"全民","K71U.SI":"吉宝房地产信托","STI.SI":"富时新加坡海峡指数","Z74.SI":"新电信"},"source_url":"https://www.businesstimes.com.sg/stocks/stocks-to-watch-keppel-reit-singtel-sph-qm-dental","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150798369","content_text":"THE following companies saw new developments that may affect trading of their securities on Tuesday (Mar 8):Keppel Reit: (K71U) Its manager said it has received, from RBC Investor Services Trust Singapore, a letter of intention to retire as trustee of the real estate investment trust on Tuesday. RBC is intending to cease provision of trustee services for all authorised collective investment schemes in Singapore. Units of Keppel Reit closed at S$1.16 on Monday, down S$0.02 or 1.7 percent.Singapore Telecommunications (Singtel): (Z74) Its technology services arm NCS is acquiring Australian IT services company The Dialog Group for A$325 million (S$328 million). In its bourse filing of the acquisition on Monday, Singtel noted that Dialog's net asset value as at Jun 30, 2021 was A$43 million. Singtel shares closed flat at S$2.51 on Monday, after the announcement was made.Singapore Press Holdings (SPH): (T39) The company is \"unable to comment\" on whether it will declare a special dividend in relation to the divestment of sgCarMart to Toyota. This was in response to shareholder queries in a Monday bourse filing ahead of a virtual Investors' Day on Tuesday relating to the proposed acquisition of SPH by consortium Cuscaden Peak. Shares of SPH closed unchanged at S$2.34 on Monday, before the announcement.Q&M Dental Group: (QC7) The dental service provider's chief executive officer Dr Ng Chin Siau entered into a conditional sale and purchase agreement on Monday to take a 29 percent stake in restaurant operator No Signboard Holdings for a total consideration of S$1. As a condition, Dr Ng will extend an interest-free unsecured loan of S$2.6 million to the company. Q&M closed S$0.025 or 4.6 percent lower at S$0.52 on Monday, before the announcement, while shares of Catalist-listed No Signboard are suspended.","news_type":1},"isVote":1,"tweetType":1,"viewCount":68,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9007277424,"gmtCreate":1642922310572,"gmtModify":1676533757974,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9007277424","repostId":"2205248240","repostType":4,"repost":{"id":"2205248240","pubTimestamp":1642898373,"share":"https://www.laohu8.com/m/news/2205248240?lang=&edition=full","pubTime":"2022-01-23 08:39","market":"us","language":"en","title":"Here's Why SoFi's Long-Awaited Bank Charter Will Make the Business Better","url":"https://stock-news.laohu8.com/highlight/detail?id=2205248240","media":"Motley Fool","summary":"Regulators have granted SoFi conditional approval on its application to become a bank.","content":"<html><head></head><body><p>After a difficult few months for the stock, <b>SoFi</b> (NASDAQ:SOFI) shareholders got some welcome news recently when regulators approved the company&#39;s application to become a bank. Now, SoFi will be able to complete its previously announced acquisition of <b>Golden Pacific Bancorp</b> and become a bank holding company.</p><p>SoFi plans to capitalize the bank with $750 million, and the bank will have $5.3 billion of assets once the deal with Golden Pacific closes, which is expected to happen in February. Following the news of the bank charter, SoFi&#39;s stock shot up.</p><p>Here&#39;s why SoFi&#39;s long-awaited bank charter will improve the company&#39;s operations.</p><p><img src=\"https://static.tigerbbs.com/b043430dd6fd8a492604fcb1cb4193d3\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Image source: Getty Images.</p><h2>Streamlining operations</h2><p>Despite competing in the banking space, many fintech companies start as tech companies and do not have a formal banking license -- they are not easy to obtain. So, most fintechs tend to partner with licensed banks to do things like hold the deposits they gather from their members (unlicensed banks can&#39;t hold deposits on their balance sheet) and originate loans for them in some cases. This typically involves some kind of revenue share. Additionally, because banks can&#39;t use deposits to fund loan originations, they have to use higher-cost funding.</p><p>One of the main benefits of the bank charter will be enabling SoFi to lower its interest expense, which is the interest SoFi pays on the debt it uses to fund assets such as loans. According to its recent regulatory filing, the company&#39;s current funding sources for originations include securitization debt and funding from warehouse facilities. SoFi pays interest on this funding of nearly 4% and 1.6%, respectively. This funding is also not as reliable in certain market conditions. Currently, most savings and checking accounts pay out very little interest, and even a lot of high-yield savings accounts pay much less interest than these higher-cost sources.</p><p>With the bank charter, SoFi will be able to transfer all of the deposits in its cash management SoFi Money product that it currently sends to a partner bank back into SoFi to hold. SoFi Money accounts topped 1.16 million at the end of the third quarter, so they should offer a decent source of funding that will also grow in the future. This will significantly lower SoFi&#39;s cost of funding loan originations, or it can maintain both sources if it needs them to grow.</p><p>Additionally, having a bank charter will make it easier for SoFi to hold loans on its balance sheet, whether that means holding loans for longer periods or to completion. Most fintech consumer lenders sell loans they originate right away to an investor or bank for a fee. But when you hold a loan on the balance sheet, you can collect interest payments every month, and that loan ends up being more profitable over its life, as long as it doesn&#39;t go into default.</p><p>With a bank charter, SoFi will have more clarity from a regulatory perspective on its operations. It is also another signal to investors that SoFi is a trustworthy lender. While the company has a good reputation, given that it has been originating loans for several years now, I think investors see it as a good sign that a fintech company is willing to take some risk on its balance sheet, although I am not yet sure how long SoFi plans to hold its loans.</p><p>In its first presentation, management showed the impact of the bank charter on earnings before interest, taxes, depreciation, and amortization (EBITDA). While the numbers have likely changed, as this presentation is now roughly a year old, I think this is illustrative of how helpful the bank charter can be.</p><p><img src=\"https://static.tigerbbs.com/5ca5ac4bdc2ba7427f2b507f42aeb914\" tg-width=\"700\" tg-height=\"642\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>SoFi January 2021 investor presentation.</p><h2>Hitting a key milestone</h2><p>While the bank charter has been long anticipated, there was some question over it, given some of the regulatory uncertainty in the banking arena in Washington over the past few months. It is also no easy feat for any fintech to obtain a bank charter. The charter will make the deposits that SoFi gathers much more valuable and greatly help the unit economics in its lending division. Ultimately, expect revenue and EBITDA to be higher this year and going forward with the bank charter now secured.</p></body></html>","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>Here's Why SoFi's Long-Awaited Bank Charter Will Make the Business Better</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\">\nHere's Why SoFi's Long-Awaited Bank Charter Will Make the Business Better\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-23 08:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/01/22/why-sofi-bank-charter-makes-business-better/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After a difficult few months for the stock, SoFi (NASDAQ:SOFI) shareholders got some welcome news recently when regulators approved the company's application to become a bank. Now, SoFi will be able ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/01/22/why-sofi-bank-charter-makes-business-better/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SOFI":"SoFi Technologies Inc.","BK4549":"软银资本持仓","BK4551":"寇图资本持仓","BK4535":"淡马锡持仓","BK4166":"消费信贷"},"source_url":"https://www.fool.com/investing/2022/01/22/why-sofi-bank-charter-makes-business-better/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2205248240","content_text":"After a difficult few months for the stock, SoFi (NASDAQ:SOFI) shareholders got some welcome news recently when regulators approved the company's application to become a bank. Now, SoFi will be able to complete its previously announced acquisition of Golden Pacific Bancorp and become a bank holding company.SoFi plans to capitalize the bank with $750 million, and the bank will have $5.3 billion of assets once the deal with Golden Pacific closes, which is expected to happen in February. Following the news of the bank charter, SoFi's stock shot up.Here's why SoFi's long-awaited bank charter will improve the company's operations.Image source: Getty Images.Streamlining operationsDespite competing in the banking space, many fintech companies start as tech companies and do not have a formal banking license -- they are not easy to obtain. So, most fintechs tend to partner with licensed banks to do things like hold the deposits they gather from their members (unlicensed banks can't hold deposits on their balance sheet) and originate loans for them in some cases. This typically involves some kind of revenue share. Additionally, because banks can't use deposits to fund loan originations, they have to use higher-cost funding.One of the main benefits of the bank charter will be enabling SoFi to lower its interest expense, which is the interest SoFi pays on the debt it uses to fund assets such as loans. According to its recent regulatory filing, the company's current funding sources for originations include securitization debt and funding from warehouse facilities. SoFi pays interest on this funding of nearly 4% and 1.6%, respectively. This funding is also not as reliable in certain market conditions. Currently, most savings and checking accounts pay out very little interest, and even a lot of high-yield savings accounts pay much less interest than these higher-cost sources.With the bank charter, SoFi will be able to transfer all of the deposits in its cash management SoFi Money product that it currently sends to a partner bank back into SoFi to hold. SoFi Money accounts topped 1.16 million at the end of the third quarter, so they should offer a decent source of funding that will also grow in the future. This will significantly lower SoFi's cost of funding loan originations, or it can maintain both sources if it needs them to grow.Additionally, having a bank charter will make it easier for SoFi to hold loans on its balance sheet, whether that means holding loans for longer periods or to completion. Most fintech consumer lenders sell loans they originate right away to an investor or bank for a fee. But when you hold a loan on the balance sheet, you can collect interest payments every month, and that loan ends up being more profitable over its life, as long as it doesn't go into default.With a bank charter, SoFi will have more clarity from a regulatory perspective on its operations. It is also another signal to investors that SoFi is a trustworthy lender. While the company has a good reputation, given that it has been originating loans for several years now, I think investors see it as a good sign that a fintech company is willing to take some risk on its balance sheet, although I am not yet sure how long SoFi plans to hold its loans.In its first presentation, management showed the impact of the bank charter on earnings before interest, taxes, depreciation, and amortization (EBITDA). While the numbers have likely changed, as this presentation is now roughly a year old, I think this is illustrative of how helpful the bank charter can be.SoFi January 2021 investor presentation.Hitting a key milestoneWhile the bank charter has been long anticipated, there was some question over it, given some of the regulatory uncertainty in the banking arena in Washington over the past few months. It is also no easy feat for any fintech to obtain a bank charter. The charter will make the deposits that SoFi gathers much more valuable and greatly help the unit economics in its lending division. Ultimately, expect revenue and EBITDA to be higher this year and going forward with the bank charter now secured.","news_type":1},"isVote":1,"tweetType":1,"viewCount":159,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9006540215,"gmtCreate":1641795315856,"gmtModify":1676533648874,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9006540215","repostId":"1108030484","repostType":4,"repost":{"id":"1108030484","pubTimestamp":1641769386,"share":"https://www.laohu8.com/m/news/1108030484?lang=&edition=full","pubTime":"2022-01-10 07:03","market":"us","language":"en","title":"Consumer Price Index, Bank Earnings: What to Know This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1108030484","media":"Yahoo Finance","summary":"Inflation data will be in focus this week, with investors set to receive the Bureau of Labor Statist","content":"<html><head></head><body><p>Inflation data will be in focus this week, with investors set to receive the Bureau of Labor Statistics&#39; (BLS) latest Consumer Price Index (CPI) as the Federal Reserve&#39;s next monetary policy moves remain in focus. Quarterly earnings season also ramps up as some of the big banks report results.</p><p>Market participants are bracing for another historically hot reading on inflation in the latest CPI data, due out on Wednesday. On a year-over-year basis, consumer prices likely surged by 7.1% in December, based on Bloomberg consensus data, accelerating even further from November&#39;s 6.8% year-over-year clip.This would mark the fastest rate since 1982, when CPI rose as much as 8.4% on a year-over-year basis.</p><p>And on a month-over-month basis, consumer prices likely rose by 0.4% in December, slowing from November&#39;s 0.8% rise but still marking an eighteenth consecutive month of increases.</p><p>&#34;Recent months have seen consistent upside surprises as inflation has increasingly broadened out, and it&#39;s now the case that seven of the last nine CPI releases have seen the monthly headline increase come in above the consensus among economists on Bloomberg, which just demonstrates how this has taken a lot of people by surprise,&#34; Deutsche Bank economists Henry Allen and Jim Reid said in a note.</p><p>&#34;Our U.S. economists are projecting that year-on-year inflation will move higher once again, with an increase to +7.0%,&#34; they added. &#34;Interestingly though, they think we could be at a turning point with December marking the peak in the year-on-year readings, which they then project will fall back over 2022 and be at +3.0% by this December ahead.&#34;</p><p>Excluding more volatile food and energy prices, consumer prices likely rose at a 5.4% year-over-year rate in December, also speeding from November&#39;s 4.9% pace and coming in at the fastest since 1991.</p><p>While price increases have been broad-based in the recovering economy, some economists said rising vehicle prices will likely be one of the main drivers of inflation at year-end.</p><p>&#34;The main story will be the increase in autos inflation, with used cars the primary driver,&#34; Bank of America economists led by Ethan Harris wrote in a note Friday. &#34;Manheim data showed wholesale used car prices spiking 9.2% [month-over-month] in October, following a 5.3% increase in September. Given a roughly 2-month lag, this sends a signal of incredible strength for CPI used cars this month.&#34;</p><p>Used car and truck prices had risen 2.5% month-on-month in November, matching the prior month&#39;s rise, based on BLS data.</p><p>&#34;Outside of autos, we expect further gains in household furnishings and supplies and apparel, reflecting tight supply chains and fewer discounts as the holiday shopping season draws to a close,&#34; Harris added.</p><p>The December CPI will also be carefully parsed by investors as they gauge the next moves by the Federal Reserve, as some officials eye a quicker shift away from accommodative policies to rein in inflation.</p><p>Last week, the Fed&#39;s December meeting minutes suggested some officials favored speeding the central bank&#39;s asset-purchase tapering and hastening the timing of an initial interest rate hike from current near-zero levels. And against a backdrop of a &#34;stronger economic outlook [and] higher inflation,&#34; some officials also suggested they were contemplating the start of reducing the nearly $9 trillion in assets on the central bank&#39;s balance sheet. Hints that the Fed was considering tightening policy in the near-term sent equity markets into a tailspin last week.</p><p>&#34;The market does have to adjust to what is a surprise in terms of how aggressive the Federal Reserve may be in managing the economy around inflation,&#34; Rob Haworth, U.S. Bank Wealth Management senior investment strategist,told Yahoo Finance Livelast week.</p><p>Investors may also receive more commentary about how key members of the Federal Reserve expect to approach inflation with their monetary policy toolkit in two confirmation hearings before Congress this week. Federal Reserve Chair Jerome Powell&#39;s nomination hearing for a second term is set to take place before the Senate Banking Committee on Tuesday — or a day before the December CPI is released. However, Fed Governor Lael Brainard&#39;s nomination hearing to become vice chair of the Fed will take place on Thursday before the Senate Banking Committee, after the release of the latest inflation data.</p><p>Bank earnings</p><p>This week, investors will also see a pick-up in earnings reports, as some of the largest U.S. banks deliver their quarterly results at the end of the week. JPMorgan Chase (JPM), Citigroup (C) and Wells Fargo (WFC) are each slated to report Friday morning before the opening bell.</p><p>The results come following a strong run for bank stocks, with financials currently the second-best performing sector in the S&amp;P 500 in 2022, after energy. TheXLF, or exchange-traded fund tracking the financials sector, hit a record high on Friday and logged its best week since February 2021.</p><p>Expectations for higher interest rates this year have been one major factor lifting these shares, given that banks&#39; core lending businesses benefit from rising rates. On Friday, the benchmark 10-year Treasury yield rose to approximately 1.8%, or its highest level since January 2020. And robust market activity over the past year likely also helped further lift banks&#39; trading operations.</p><p>&#34;As far as the financials go, we think they&#39;re going to be pretty good. This last year has seen a lot of trading activity,&#34; Scott Ladner, Horizon Investments chief investment officer,told Yahoo Finance Live on Friday.&#34;And as we&#39;ve seen, what&#39;s going on right now with respect to yield curve, the yield curve steepened this week.&#34;</p><p>As fourth-quarter earnings begin to ramp up, many analysts are expecting to see another solid reporting season. However, the estimates are also taking into account slowing momentum after soaring earnings growth rates from earlier last year, helped in large part by easy comparisons to 2020&#39;s pandemic-depressed levels.</p><p>S&amp;P 500 earnings in aggregate are expected to grow 21.7% for the fourth-quarter of 2021, according to data from FactSet&#39;s John Butters as of Friday. If earnings come in as expected, this would mark a fourth consecutive quarter that earnings growth tops 20%.</p><p>Economic calendar</p><ul><li><p><b>Monday:</b>Wholesale inventories, month-over-month, November final (1.2% expected, 1.2% in previous print)</p></li><li><p><b>Tuesday:</b>NFIB Small Business Optimism, December (98.5 expected, 98.4 in November)</p></li><li><p><b>Wednesday:</b>MBA Mortgage Applications, week ended January 7 (-5.6% during prior week); Consumer Price Index (CPI), month-over-month, December (0.4% expected, 0.8% in November); CPI excluding food and energy, month-over-month, December (0.5% expected, 0.5% in November); CPI year-over-year, December (7.1% expected, 6.8% in November); CPI excluding food and energy, year-over-year, December (5.4% expected, 4.9% in November); Monthly budget statement, December (-$191.3 billion expected); U.S. Federal Reserve Releases Beige Book</p></li><li><p><b>Thursday:</b>Producer Price Index (PPI), month-over-month, December (0.4% expected, 0.8% in November); PPI excluding food and energy, month-over-month, December (0.4% expected, 0.7% in November); PPI year-over-year, December (9.8% expected, 9.6% in November); PPI excluding food and energy, year-over-year, December (8.0% expected, 7.7% in November); Initial jobless claims, week ended January 8 (210,000 expected, 207,000 during prior week); Continuing claims, week ended January 1 (1.754 million during prior week)</p></li><li><p><b>Friday:</b>Retail sales advance, month-over-month, December (0.0% expected, 0.3% in November); Retail sales excluding autos and gas, month-over-month, December (-0.1% expected, 0.2% in November); Import price index, month-over-month, December (0.2%. expected, 0.7% in November); Capacity utilization, December (77.0% expected); Industrial production, month-over-month, December (0.3% expected, 0.5% in November); University of Michigan sentiment, January preliminary (70.0 expected, 70.6 in December)</p></li></ul><p>Earnings calendar</p><ul><li><p><b>Monday:</b><i>No notable reports scheduled for release</i></p></li><li><p><b>Tuesday:</b><i>No notable reports scheduled for release</i></p></li><li><p><b>Wednesday:</b>Jefferies Financial Corp. (JEF) before market open</p></li><li><p><b>Thursday:</b>Delta Air Lines (DAL) before market open</p></li><li><p><b>Friday:</b>BlackRock (BLK), Citigroup (C), JPMorgan Chase (JPM), Wells Fargo (WFC) before market open</p></li></ul></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>Consumer Price Index, Bank Earnings: What to Know This Week</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\">\nConsumer Price Index, Bank Earnings: What to Know This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-10 07:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/consumer-price-index-bank-earnings-what-to-know-this-week-164559716.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Inflation data will be in focus this week, with investors set to receive the Bureau of Labor Statistics' (BLS) latest Consumer Price Index (CPI) as the Federal Reserve's next monetary policy moves ...</p>\n\n<a href=\"https://finance.yahoo.com/news/consumer-price-index-bank-earnings-what-to-know-this-week-164559716.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/consumer-price-index-bank-earnings-what-to-know-this-week-164559716.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108030484","content_text":"Inflation data will be in focus this week, with investors set to receive the Bureau of Labor Statistics' (BLS) latest Consumer Price Index (CPI) as the Federal Reserve's next monetary policy moves remain in focus. Quarterly earnings season also ramps up as some of the big banks report results.Market participants are bracing for another historically hot reading on inflation in the latest CPI data, due out on Wednesday. On a year-over-year basis, consumer prices likely surged by 7.1% in December, based on Bloomberg consensus data, accelerating even further from November's 6.8% year-over-year clip.This would mark the fastest rate since 1982, when CPI rose as much as 8.4% on a year-over-year basis.And on a month-over-month basis, consumer prices likely rose by 0.4% in December, slowing from November's 0.8% rise but still marking an eighteenth consecutive month of increases.\"Recent months have seen consistent upside surprises as inflation has increasingly broadened out, and it's now the case that seven of the last nine CPI releases have seen the monthly headline increase come in above the consensus among economists on Bloomberg, which just demonstrates how this has taken a lot of people by surprise,\" Deutsche Bank economists Henry Allen and Jim Reid said in a note.\"Our U.S. economists are projecting that year-on-year inflation will move higher once again, with an increase to +7.0%,\" they added. \"Interestingly though, they think we could be at a turning point with December marking the peak in the year-on-year readings, which they then project will fall back over 2022 and be at +3.0% by this December ahead.\"Excluding more volatile food and energy prices, consumer prices likely rose at a 5.4% year-over-year rate in December, also speeding from November's 4.9% pace and coming in at the fastest since 1991.While price increases have been broad-based in the recovering economy, some economists said rising vehicle prices will likely be one of the main drivers of inflation at year-end.\"The main story will be the increase in autos inflation, with used cars the primary driver,\" Bank of America economists led by Ethan Harris wrote in a note Friday. \"Manheim data showed wholesale used car prices spiking 9.2% [month-over-month] in October, following a 5.3% increase in September. Given a roughly 2-month lag, this sends a signal of incredible strength for CPI used cars this month.\"Used car and truck prices had risen 2.5% month-on-month in November, matching the prior month's rise, based on BLS data.\"Outside of autos, we expect further gains in household furnishings and supplies and apparel, reflecting tight supply chains and fewer discounts as the holiday shopping season draws to a close,\" Harris added.The December CPI will also be carefully parsed by investors as they gauge the next moves by the Federal Reserve, as some officials eye a quicker shift away from accommodative policies to rein in inflation.Last week, the Fed's December meeting minutes suggested some officials favored speeding the central bank's asset-purchase tapering and hastening the timing of an initial interest rate hike from current near-zero levels. And against a backdrop of a \"stronger economic outlook [and] higher inflation,\" some officials also suggested they were contemplating the start of reducing the nearly $9 trillion in assets on the central bank's balance sheet. Hints that the Fed was considering tightening policy in the near-term sent equity markets into a tailspin last week.\"The market does have to adjust to what is a surprise in terms of how aggressive the Federal Reserve may be in managing the economy around inflation,\" Rob Haworth, U.S. Bank Wealth Management senior investment strategist,told Yahoo Finance Livelast week.Investors may also receive more commentary about how key members of the Federal Reserve expect to approach inflation with their monetary policy toolkit in two confirmation hearings before Congress this week. Federal Reserve Chair Jerome Powell's nomination hearing for a second term is set to take place before the Senate Banking Committee on Tuesday — or a day before the December CPI is released. However, Fed Governor Lael Brainard's nomination hearing to become vice chair of the Fed will take place on Thursday before the Senate Banking Committee, after the release of the latest inflation data.Bank earningsThis week, investors will also see a pick-up in earnings reports, as some of the largest U.S. banks deliver their quarterly results at the end of the week. JPMorgan Chase (JPM), Citigroup (C) and Wells Fargo (WFC) are each slated to report Friday morning before the opening bell.The results come following a strong run for bank stocks, with financials currently the second-best performing sector in the S&P 500 in 2022, after energy. TheXLF, or exchange-traded fund tracking the financials sector, hit a record high on Friday and logged its best week since February 2021.Expectations for higher interest rates this year have been one major factor lifting these shares, given that banks' core lending businesses benefit from rising rates. On Friday, the benchmark 10-year Treasury yield rose to approximately 1.8%, or its highest level since January 2020. And robust market activity over the past year likely also helped further lift banks' trading operations.\"As far as the financials go, we think they're going to be pretty good. This last year has seen a lot of trading activity,\" Scott Ladner, Horizon Investments chief investment officer,told Yahoo Finance Live on Friday.\"And as we've seen, what's going on right now with respect to yield curve, the yield curve steepened this week.\"As fourth-quarter earnings begin to ramp up, many analysts are expecting to see another solid reporting season. However, the estimates are also taking into account slowing momentum after soaring earnings growth rates from earlier last year, helped in large part by easy comparisons to 2020's pandemic-depressed levels.S&P 500 earnings in aggregate are expected to grow 21.7% for the fourth-quarter of 2021, according to data from FactSet's John Butters as of Friday. If earnings come in as expected, this would mark a fourth consecutive quarter that earnings growth tops 20%.Economic calendarMonday:Wholesale inventories, month-over-month, November final (1.2% expected, 1.2% in previous print)Tuesday:NFIB Small Business Optimism, December (98.5 expected, 98.4 in November)Wednesday:MBA Mortgage Applications, week ended January 7 (-5.6% during prior week); Consumer Price Index (CPI), month-over-month, December (0.4% expected, 0.8% in November); CPI excluding food and energy, month-over-month, December (0.5% expected, 0.5% in November); CPI year-over-year, December (7.1% expected, 6.8% in November); CPI excluding food and energy, year-over-year, December (5.4% expected, 4.9% in November); Monthly budget statement, December (-$191.3 billion expected); U.S. Federal Reserve Releases Beige BookThursday:Producer Price Index (PPI), month-over-month, December (0.4% expected, 0.8% in November); PPI excluding food and energy, month-over-month, December (0.4% expected, 0.7% in November); PPI year-over-year, December (9.8% expected, 9.6% in November); PPI excluding food and energy, year-over-year, December (8.0% expected, 7.7% in November); Initial jobless claims, week ended January 8 (210,000 expected, 207,000 during prior week); Continuing claims, week ended January 1 (1.754 million during prior week)Friday:Retail sales advance, month-over-month, December (0.0% expected, 0.3% in November); Retail sales excluding autos and gas, month-over-month, December (-0.1% expected, 0.2% in November); Import price index, month-over-month, December (0.2%. expected, 0.7% in November); Capacity utilization, December (77.0% expected); Industrial production, month-over-month, December (0.3% expected, 0.5% in November); University of Michigan sentiment, January preliminary (70.0 expected, 70.6 in December)Earnings calendarMonday:No notable reports scheduled for releaseTuesday:No notable reports scheduled for releaseWednesday:Jefferies Financial Corp. (JEF) before market openThursday:Delta Air Lines (DAL) before market openFriday:BlackRock (BLK), Citigroup (C), JPMorgan Chase (JPM), Wells Fargo (WFC) before market open","news_type":1},"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830818990,"gmtCreate":1629043045210,"gmtModify":1676529915935,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/830818990","repostId":"1127633167","repostType":4,"repost":{"id":"1127633167","pubTimestamp":1628997765,"share":"https://www.laohu8.com/m/news/1127633167?lang=&edition=full","pubTime":"2021-08-15 11:22","market":"us","language":"en","title":"These 10 Standout Stocks Could Be the Next Amazon","url":"https://stock-news.laohu8.com/highlight/detail?id=1127633167","media":"Barrons","summary":"One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors loo","content":"<p>One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors looking for the next Amazon.com, Costco Wholesale, Nike, or Visa seek to identify companies capable of generating double-digit compound growth in revenue and earnings—preferably both—for years to come.</p>\n<p>The idea is that stock prices should compound in line with revenue and profits, enabling investors to generate high returns over a holding period of five to 10 years. The ultimate goal is to find the elusive “10 bagger”—a stock&nbsp;that returns 10 times what you paid for it.</p>\n<p>Wall Street analyst notes and client letters from investment pros are replete with compounder references. Many of the next generation of value managers, identified&nbsp;in a&nbsp;<i>Barron’s</i>&nbsp;cover story in May, are seeking such shares, rather than the traditional value fare of cheap stocks.</p>\n<p>Their search has become more challenging, because buyers are paying lofty prices for high-growth stories. Really big winners are scarce. Only about 35 companies in each of a long series of 10-year periods have compounded their stock prices at 20% or more annually, resulting in at least a sixfold increase, according to Durable Capital Partners.</p>\n<p>Many investors are happy to stick with large, well-known compounders, such as&nbsp;Alphabet(ticker: GOOGL),Mastercard(MA),UnitedHealth Group(UNH), and&nbsp;Eli Lilly(LLY).</p>\n<p><i>Barron’s</i>&nbsp;sought to identify smaller candidates. We talked to investment managers and came up with an eclectic list of 10 stocks, most with market values under $10 billion. Here are the selections, in alphabetical order:</p>\n<p>Strong and Steady Wins the RaceHere are 10 stocks that growth investors have identified as being able to generate consistently high growth in revenues or profits for many years.</p>\n<table>\n <thead>\n  <tr>\n   <th>Company / Ticker</th>\n   <th>Recent Price</th>\n   <th>YTD Change</th>\n   <th>2021E P/E</th>\n   <th>2021E Price/Sales</th>\n   <th>2022E P/E</th>\n   <th>2022E Price/Sales</th>\n   <th>LT Growth Rate*</th>\n   <th>Market Value (bil)</th>\n   <th>Comment</th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td>Amedysis / AMED</td>\n   <td>$185.15</td>\n   <td>-37%</td>\n   <td>30.2</td>\n   <td>2.7</td>\n   <td>27.7</td>\n   <td>2.4</td>\n   <td>10.5%</td>\n   <td>$6.3</td>\n   <td>Leader in home health care</td>\n  </tr>\n  <tr>\n   <td>Amyris / AMRS</td>\n   <td>13.64</td>\n   <td>121</td>\n   <td>NM</td>\n   <td>10.4</td>\n   <td>NM</td>\n   <td>9.7</td>\n   <td>NA</td>\n   <td>4.1</td>\n   <td>Leading company in synthetic biology</td>\n  </tr>\n  <tr>\n   <td>Booz Allen Hamilton Holding / BAH</td>\n   <td>81.73</td>\n   <td>-6</td>\n   <td>19.4</td>\n   <td>1.3</td>\n   <td>17.7</td>\n   <td>1.2</td>\n   <td>8.6</td>\n   <td>11.0</td>\n   <td>Defense-department consultant</td>\n  </tr>\n  <tr>\n   <td>J.B. Hunt Transport Services / JBHT</td>\n   <td>172.76</td>\n   <td>26</td>\n   <td>25.8</td>\n   <td>1.5</td>\n   <td>22.2</td>\n   <td>1.4</td>\n   <td>18.4</td>\n   <td>18.2</td>\n   <td>Strong in intermodal freight</td>\n  </tr>\n  <tr>\n   <td>Marriott Vacations Worldwide / VAC</td>\n   <td>147.15</td>\n   <td>7</td>\n   <td>40.9</td>\n   <td>1.6</td>\n   <td>15.7</td>\n   <td>1.4</td>\n   <td>NA</td>\n   <td>6.3</td>\n   <td>Top company in vacation timeshares</td>\n  </tr>\n  <tr>\n   <td>SiteOne Landscape Supply / SITE</td>\n   <td>197.10</td>\n   <td>24</td>\n   <td>45.7</td>\n   <td>2.6</td>\n   <td>43.5</td>\n   <td>2.5</td>\n   <td>19.3</td>\n   <td>8.8</td>\n   <td>Big supplier of landscaping supplies</td>\n  </tr>\n  <tr>\n   <td>Staar Surgical / STAA</td>\n   <td>138.19</td>\n   <td>74</td>\n   <td>192.3</td>\n   <td>28.6</td>\n   <td>140.8</td>\n   <td>22.5</td>\n   <td>30.0</td>\n   <td>6.6</td>\n   <td>Maker of implantable lens for myopia</td>\n  </tr>\n  <tr>\n   <td>Stitch Fix / SFIX</td>\n   <td>44.38</td>\n   <td>-24</td>\n   <td>NM</td>\n   <td>1.9</td>\n   <td>1890.3</td>\n   <td>1.7</td>\n   <td>30.0</td>\n   <td>4.8</td>\n   <td>Data-driven subscription clothing firm</td>\n  </tr>\n  <tr>\n   <td>Trex / TREX</td>\n   <td>105.94</td>\n   <td>27</td>\n   <td>51.9</td>\n   <td>10.5</td>\n   <td>43.6</td>\n   <td>9.3</td>\n   <td>18.8</td>\n   <td>12.2</td>\n   <td>Top maker of synthetic wood decking</td>\n  </tr>\n  <tr>\n   <td>Upwork / UPWK</td>\n   <td>44.31</td>\n   <td>28</td>\n   <td>NM</td>\n   <td>11.4</td>\n   <td>556.8</td>\n   <td>9.2</td>\n   <td>NA</td>\n   <td>5.7</td>\n   <td>Online clearinghouse for free-lancers</td>\n  </tr>\n </tbody>\n</table>\n<p>E=Estimate. BAH estimates are for fiscal years ending March 2022 and March 23. SFIX estimates are for fiscal years ending July 2022 and July 2023. NM=Not Meaningful. NA=Not Available. *The annual EPS growth the company can sustain over the next 3-5 years.</p>\n<p>Source: FactSet</p>\n<p>Amedisys(AMED), a provider of home healthcare and hospice services, has a national footprint in a still-fragmented business.</p>\n<p>“There is going to be massive consolidation of the industry” predicts Dan Cole, a manager of the Columbia Small-Cap Growth fund. “Healthcare is moving to the home.”</p>\n<p>Amedisys stock is up more than tenfold in the past decade. But the shares, around $185, are off nearly 30% after the company recently cut 2021 financial guidance, citing Covid-related staffing and cost issues, mostly in acquired hospice operations. The 2021 earnings estimate is now $6.13 a share, down from nearly $7. The stock trades for 30 times projected 2021 profits. Cole says that the company remains capable of generating 10% annual gains in earnings per share.</p>\n<p>Amyris(AMRS) is a leader in synthetic biology. It fans say its opportunity is to supplant, in an eco-friendly way, a range of products now made from petrochemicals, animals, and plants.</p>\n<p>Using genetically re-engineered yeast and sugar cane, Amyris produces such things as squalane, a high-end moisturizer formerly made from shark livers; vanillin, the flavoring for vanilla; and a no-calorie sweetener normally derived from plants. The stock trades around $13.</p>\n<p><i>Barron’s</i>&nbsp;wrote&nbsp;favorably on the company in July. Amyris sees sales reaching $2 billion by 2025, up from an estimated $400 million this year, driven by its consumer brands.</p>\n<p>“The world needs clean chemistry, and Amyris is the point on the spear to create it,” says Randy Baron, a portfolio manager at Pinnacle Associates, which owns Amyris shares. He thinks they could hit $75 by the end of 2022.</p>\n<p>Booz Allen Hamilton Holding(BAH) is an important consultant to the Defense Department and other agencies. The U.S. government accounted for 97% of its revenue in its latest fiscal year. Booz Allen has built robust ties to the government over the years by providing an array of services, like cybersecurity. Its stock trades around $81, for a 1.8% yield.</p>\n<p>“It has built a strong, partnership-like culture and has a long record of steady growth,” says Josh Spencer, manager of the T. Rowe Price New Horizons fund. He sees Booz Allen as capable of generating 9% to 10% annual growth in revenue and yearly gains of 15% to 16% in earnings, in line with its historical performance. The stock is off 20% from its peak of $100, amid concerns about more restrained military spending. Spencer sees the pullback as a buying opportunity, with the stock valued at less than 20 times earnings.</p>\n<p>J.B. Hunt Transport Services(JBHT) is a leader in intermodal freight, which involves the fuel-efficient movement of trucks over rail lines. It has been one of the most successful trucking companies. Its stock has risen 30-fold over the past 20 years, to a recent $173. “It has an incredible franchise,” says Henry Ellenbogen, chief investment officer at Durable Capital Partners and a member of the&nbsp;Barron’s Roundtable.</p>\n<p>J.B. Hunt’s relationship with the Burlington Northern Santa Fe railroad gives it a strong position in intermodal freight, he notes. J.B. Hunt also has a growing business taking over the trucking operations of smaller companies. And it is involved in digital freight brokerage—matching truckers with shipping customers.</p>\n<p>Ellenbogen says the stock is reasonable at 22 times estimated 2022 profits, given a mid-teens annual growth outlook for earnings.</p>\n<p>Marriott Vacations Worldwide(VAC) is one of the top companies in the timeshare industry. It has 700,000 owners, a resilient business model with significant revenue from fees, and more exposure than its peers to luxury properties in places including Hawaii and Orlando, Fla.</p>\n<p>“It has the best customer base, with the highest spending and an impeccable balance sheet,” says David Baron, a manager of the Baron Focused Growth fund. Marriott Vacations, whose shares recently were trading around $145, should reinstate its dividend later this year, he adds.</p>\n<p>The shares, Baron argues, are cheap at a 11% free-cash-flow yield, based on 2022 estimates. He says that the stock, little changed since 2018, could produce 20% annual returns for shareholders in the coming years.</p>\n<p>SiteOne Landscape Supply(SITE) is the country’s top supplier of landscaping products, with ample opportunity to expand, given that it has just a 13% market share in a highly fragmented industry.</p>\n<p></p>\n<p>“It’s growing organically and has lots of acquisition opportunities,” says Columbia’s Cole, who considers the company to be capable of 10% to 15% annual revenue growth.</p>\n<p>The stock, around $197, has a rich valuation, trading for 43 times projected 2022 earnings of $4.54 a share.</p>\n<p>Staar Surgical(STAA) has developed an implantable lens to correct myopia (nearsightedness). That addresses a potentially huge market, given the rising global incidence of that vision problem. The company expects the lens, which has been available in Europe and Asia for at least five years, to be on the U.S. market in the fourth quarter, pending Food and Drug Administration approval.</p>\n<p>“It could do substantial volumes,’’ says Doug Brodie, a global manager at Baillie Gifford. “It’s early in a journey and is largely devoid of competition.”</p>\n<p>Lenses for both eyes can be implanted in less than an hour, and they don’t involve the removal of the natural lenses. The wholesale cost in the U.S. could be around $1,000 per lens.</p>\n<p>At a recent $138, Staar shares are richly valued at more than 20 times projected 2022 sales and 140 times estimated 2022 earnings. But the market opportunity is enormous: Some five billion people worldwide could have myopia by 2050.</p>\n<p>Stitch Fix(SFIX) has developed a subscription service for clothing, shoes, and other accessories and boasts over four million customers.</p>\n<p>“This could be the Nordstrom of the future,” says Mario Cibelli, chief investment officer at Marathon Partners Equity Management, a Stitch Fix holder. “This a potentially huge market and nobody is addressing it in the same way.” Using a staff of 6,000 personal stylists and lots of data, Stitch Fix seeks to identify subscriber tastes to generate high satisfaction and limit returns on packages sent at intervals and determined by subscribers.</p>\n<p>Its shares, around $44, are down 60% from their level earlier in the year, on investors’ worries about potential churn and the business’s ultimate profitability.</p>\n<p>Yet Cibelli sees revenue growth of 20%-plus annually, opportunities outside its current U.S. and U.K. markets, and a potentially very profitable business in two to three years.</p>\n<p>Trex(TREX) is the top producer of a high-end wood alternative for decks that comes from 95% recycled material, making it an eco-friendly housing play. The shares, at $105, trade for 43 times projected 2022 earnings.</p>\n<p>T. Rowe Price’s Spencer views Trex as worth the price, based on his view that it can generate sustainable annual revenue growth of 15% to 20%. Earnings are expected to climb by about 20% in 2022 and at a similar pace in the following years. “If you roll the clock forward three years, it doesn’t look as expensive,” he says.</p>\n<p>Upwork(UPWK), an online marketplace for freelance workers, is favored by Baillie Gifford’s Brodie, who says it offers a play on the greater acceptance of freelancers by businesses.</p>\n<p>The shares, recently around $44, aren’t cheap. Upwork is valued at $5.7 billion, or more than 10 times this year’s projected sales of nearly $500 million. It operates at a slight loss.</p>\n<p>The investment case is about rapid sales growth leading to ample earnings. Sales are expected to rise by 30%-plus this year and 25% for 2022.</p>\n<p>“Freelancers are more accepted by small to midsize business, but they’ve been frowned on by the HR departments at large businesses,” Brodie says. Upwork aims to change that perception by vetting its freelancers and by offering thousands of skill sets. “Upwork could become a trusted partner for an increasing number of enterprise-grade partners,” he says.</p>","source":"lsy1601382232898","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>These 10 Standout Stocks Could Be the Next Amazon</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\">\nThese 10 Standout Stocks Could Be the Next Amazon\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-15 11:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/stocks-potential-compounder-growth-51628888840?mod=hp_LEADSUPP_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors looking for the next Amazon.com, Costco Wholesale, Nike, or Visa seek to identify companies capable of ...</p>\n\n<a href=\"https://www.barrons.com/articles/stocks-potential-compounder-growth-51628888840?mod=hp_LEADSUPP_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STAA":"STAAR Surgical Company","SITE":"SiteOne Landscape Supply, Inc.","BAH":"博思艾伦咨询公司","JBHT":"JB Hunt运输服务","VAC":"万豪度假环球","SFIX":"Stitch Fix Inc.","AMRS":"阿米瑞斯","TREX":"Trex Co Inc","AMED":"阿米斯医疗","UPWK":"Upwork Inc."},"source_url":"https://www.barrons.com/articles/stocks-potential-compounder-growth-51628888840?mod=hp_LEADSUPP_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127633167","content_text":"One of the most popular buzzwords in investing today is “compounders.” Growth-oriented investors looking for the next Amazon.com, Costco Wholesale, Nike, or Visa seek to identify companies capable of generating double-digit compound growth in revenue and earnings—preferably both—for years to come.\nThe idea is that stock prices should compound in line with revenue and profits, enabling investors to generate high returns over a holding period of five to 10 years. The ultimate goal is to find the elusive “10 bagger”—a stock that returns 10 times what you paid for it.\nWall Street analyst notes and client letters from investment pros are replete with compounder references. Many of the next generation of value managers, identified in a Barron’s cover story in May, are seeking such shares, rather than the traditional value fare of cheap stocks.\nTheir search has become more challenging, because buyers are paying lofty prices for high-growth stories. Really big winners are scarce. Only about 35 companies in each of a long series of 10-year periods have compounded their stock prices at 20% or more annually, resulting in at least a sixfold increase, according to Durable Capital Partners.\nMany investors are happy to stick with large, well-known compounders, such as Alphabet(ticker: GOOGL),Mastercard(MA),UnitedHealth Group(UNH), and Eli Lilly(LLY).\nBarron’s sought to identify smaller candidates. We talked to investment managers and came up with an eclectic list of 10 stocks, most with market values under $10 billion. Here are the selections, in alphabetical order:\nStrong and Steady Wins the RaceHere are 10 stocks that growth investors have identified as being able to generate consistently high growth in revenues or profits for many years.\n\n\n\nCompany / Ticker\nRecent Price\nYTD Change\n2021E P/E\n2021E Price/Sales\n2022E P/E\n2022E Price/Sales\nLT Growth Rate*\nMarket Value (bil)\nComment\n\n\n\n\nAmedysis / AMED\n$185.15\n-37%\n30.2\n2.7\n27.7\n2.4\n10.5%\n$6.3\nLeader in home health care\n\n\nAmyris / AMRS\n13.64\n121\nNM\n10.4\nNM\n9.7\nNA\n4.1\nLeading company in synthetic biology\n\n\nBooz Allen Hamilton Holding / BAH\n81.73\n-6\n19.4\n1.3\n17.7\n1.2\n8.6\n11.0\nDefense-department consultant\n\n\nJ.B. Hunt Transport Services / JBHT\n172.76\n26\n25.8\n1.5\n22.2\n1.4\n18.4\n18.2\nStrong in intermodal freight\n\n\nMarriott Vacations Worldwide / VAC\n147.15\n7\n40.9\n1.6\n15.7\n1.4\nNA\n6.3\nTop company in vacation timeshares\n\n\nSiteOne Landscape Supply / SITE\n197.10\n24\n45.7\n2.6\n43.5\n2.5\n19.3\n8.8\nBig supplier of landscaping supplies\n\n\nStaar Surgical / STAA\n138.19\n74\n192.3\n28.6\n140.8\n22.5\n30.0\n6.6\nMaker of implantable lens for myopia\n\n\nStitch Fix / SFIX\n44.38\n-24\nNM\n1.9\n1890.3\n1.7\n30.0\n4.8\nData-driven subscription clothing firm\n\n\nTrex / TREX\n105.94\n27\n51.9\n10.5\n43.6\n9.3\n18.8\n12.2\nTop maker of synthetic wood decking\n\n\nUpwork / UPWK\n44.31\n28\nNM\n11.4\n556.8\n9.2\nNA\n5.7\nOnline clearinghouse for free-lancers\n\n\n\nE=Estimate. BAH estimates are for fiscal years ending March 2022 and March 23. SFIX estimates are for fiscal years ending July 2022 and July 2023. NM=Not Meaningful. NA=Not Available. *The annual EPS growth the company can sustain over the next 3-5 years.\nSource: FactSet\nAmedisys(AMED), a provider of home healthcare and hospice services, has a national footprint in a still-fragmented business.\n“There is going to be massive consolidation of the industry” predicts Dan Cole, a manager of the Columbia Small-Cap Growth fund. “Healthcare is moving to the home.”\nAmedisys stock is up more than tenfold in the past decade. But the shares, around $185, are off nearly 30% after the company recently cut 2021 financial guidance, citing Covid-related staffing and cost issues, mostly in acquired hospice operations. The 2021 earnings estimate is now $6.13 a share, down from nearly $7. The stock trades for 30 times projected 2021 profits. Cole says that the company remains capable of generating 10% annual gains in earnings per share.\nAmyris(AMRS) is a leader in synthetic biology. It fans say its opportunity is to supplant, in an eco-friendly way, a range of products now made from petrochemicals, animals, and plants.\nUsing genetically re-engineered yeast and sugar cane, Amyris produces such things as squalane, a high-end moisturizer formerly made from shark livers; vanillin, the flavoring for vanilla; and a no-calorie sweetener normally derived from plants. The stock trades around $13.\nBarron’s wrote favorably on the company in July. Amyris sees sales reaching $2 billion by 2025, up from an estimated $400 million this year, driven by its consumer brands.\n“The world needs clean chemistry, and Amyris is the point on the spear to create it,” says Randy Baron, a portfolio manager at Pinnacle Associates, which owns Amyris shares. He thinks they could hit $75 by the end of 2022.\nBooz Allen Hamilton Holding(BAH) is an important consultant to the Defense Department and other agencies. The U.S. government accounted for 97% of its revenue in its latest fiscal year. Booz Allen has built robust ties to the government over the years by providing an array of services, like cybersecurity. Its stock trades around $81, for a 1.8% yield.\n“It has built a strong, partnership-like culture and has a long record of steady growth,” says Josh Spencer, manager of the T. Rowe Price New Horizons fund. He sees Booz Allen as capable of generating 9% to 10% annual growth in revenue and yearly gains of 15% to 16% in earnings, in line with its historical performance. The stock is off 20% from its peak of $100, amid concerns about more restrained military spending. Spencer sees the pullback as a buying opportunity, with the stock valued at less than 20 times earnings.\nJ.B. Hunt Transport Services(JBHT) is a leader in intermodal freight, which involves the fuel-efficient movement of trucks over rail lines. It has been one of the most successful trucking companies. Its stock has risen 30-fold over the past 20 years, to a recent $173. “It has an incredible franchise,” says Henry Ellenbogen, chief investment officer at Durable Capital Partners and a member of the Barron’s Roundtable.\nJ.B. Hunt’s relationship with the Burlington Northern Santa Fe railroad gives it a strong position in intermodal freight, he notes. J.B. Hunt also has a growing business taking over the trucking operations of smaller companies. And it is involved in digital freight brokerage—matching truckers with shipping customers.\nEllenbogen says the stock is reasonable at 22 times estimated 2022 profits, given a mid-teens annual growth outlook for earnings.\nMarriott Vacations Worldwide(VAC) is one of the top companies in the timeshare industry. It has 700,000 owners, a resilient business model with significant revenue from fees, and more exposure than its peers to luxury properties in places including Hawaii and Orlando, Fla.\n“It has the best customer base, with the highest spending and an impeccable balance sheet,” says David Baron, a manager of the Baron Focused Growth fund. Marriott Vacations, whose shares recently were trading around $145, should reinstate its dividend later this year, he adds.\nThe shares, Baron argues, are cheap at a 11% free-cash-flow yield, based on 2022 estimates. He says that the stock, little changed since 2018, could produce 20% annual returns for shareholders in the coming years.\nSiteOne Landscape Supply(SITE) is the country’s top supplier of landscaping products, with ample opportunity to expand, given that it has just a 13% market share in a highly fragmented industry.\n\n“It’s growing organically and has lots of acquisition opportunities,” says Columbia’s Cole, who considers the company to be capable of 10% to 15% annual revenue growth.\nThe stock, around $197, has a rich valuation, trading for 43 times projected 2022 earnings of $4.54 a share.\nStaar Surgical(STAA) has developed an implantable lens to correct myopia (nearsightedness). That addresses a potentially huge market, given the rising global incidence of that vision problem. The company expects the lens, which has been available in Europe and Asia for at least five years, to be on the U.S. market in the fourth quarter, pending Food and Drug Administration approval.\n“It could do substantial volumes,’’ says Doug Brodie, a global manager at Baillie Gifford. “It’s early in a journey and is largely devoid of competition.”\nLenses for both eyes can be implanted in less than an hour, and they don’t involve the removal of the natural lenses. The wholesale cost in the U.S. could be around $1,000 per lens.\nAt a recent $138, Staar shares are richly valued at more than 20 times projected 2022 sales and 140 times estimated 2022 earnings. But the market opportunity is enormous: Some five billion people worldwide could have myopia by 2050.\nStitch Fix(SFIX) has developed a subscription service for clothing, shoes, and other accessories and boasts over four million customers.\n“This could be the Nordstrom of the future,” says Mario Cibelli, chief investment officer at Marathon Partners Equity Management, a Stitch Fix holder. “This a potentially huge market and nobody is addressing it in the same way.” Using a staff of 6,000 personal stylists and lots of data, Stitch Fix seeks to identify subscriber tastes to generate high satisfaction and limit returns on packages sent at intervals and determined by subscribers.\nIts shares, around $44, are down 60% from their level earlier in the year, on investors’ worries about potential churn and the business’s ultimate profitability.\nYet Cibelli sees revenue growth of 20%-plus annually, opportunities outside its current U.S. and U.K. markets, and a potentially very profitable business in two to three years.\nTrex(TREX) is the top producer of a high-end wood alternative for decks that comes from 95% recycled material, making it an eco-friendly housing play. The shares, at $105, trade for 43 times projected 2022 earnings.\nT. Rowe Price’s Spencer views Trex as worth the price, based on his view that it can generate sustainable annual revenue growth of 15% to 20%. Earnings are expected to climb by about 20% in 2022 and at a similar pace in the following years. “If you roll the clock forward three years, it doesn’t look as expensive,” he says.\nUpwork(UPWK), an online marketplace for freelance workers, is favored by Baillie Gifford’s Brodie, who says it offers a play on the greater acceptance of freelancers by businesses.\nThe shares, recently around $44, aren’t cheap. Upwork is valued at $5.7 billion, or more than 10 times this year’s projected sales of nearly $500 million. It operates at a slight loss.\nThe investment case is about rapid sales growth leading to ample earnings. Sales are expected to rise by 30%-plus this year and 25% for 2022.\n“Freelancers are more accepted by small to midsize business, but they’ve been frowned on by the HR departments at large businesses,” Brodie says. Upwork aims to change that perception by vetting its freelancers and by offering thousands of skill sets. “Upwork could become a trusted partner for an increasing number of enterprise-grade partners,” he says.","news_type":1},"isVote":1,"tweetType":1,"viewCount":37,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9087730280,"gmtCreate":1651051789958,"gmtModify":1676534841005,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9087730280","repostId":"1140483126","repostType":4,"repost":{"id":"1140483126","pubTimestamp":1651049568,"share":"https://www.laohu8.com/m/news/1140483126?lang=&edition=full","pubTime":"2022-04-27 16:52","market":"us","language":"en","title":"U.S. Stocks To Watch: Boeing, Alphabet, Microsoft and More","url":"https://stock-news.laohu8.com/highlight/detail?id=1140483126","media":"benzinga","summary":"Some of the stocks that may grab investor focus today are:Wall Street expects The Boeing Company BA ","content":"<html><head></head><body><p>Some of the stocks that may grab investor focus today are:</p><p>Wall Street expects <b>The Boeing Company</b> BA to report a quarterly loss at $0.12 per share on revenue of $15.83 billion before the opening bell. Boeing shares fell 0.1% to $166.95 in after-hours trading.</p><p><b>Alphabet Inc</b> GOOGL reported weaker-than-expected earnings for its first quarter on Tuesday. The company’s board also authorized a huge stock buyback program of $70.0 billion of its Class A and Class C shares, representing about 4% of its market cap based on the last closing price. Alphabet shares dropped 3.2% to $2,314.62 in the after-hours trading session.</p><p><b>Microsoft Corporation</b> MSFT reported better-than-expected results for its third quarter. Microsoft shares jumped 4.5% to $282.40 in the after-hours trading session.</p><p>Analysts are expecting <b>T-Mobile US, Inc.</b> TMUS to have earned $0.32 per share on revenue of $20.11 billion for the latest quarter. The company will release earnings before the markets open. T-Mobile shares gained 2.3% to $127.77 in after-hours trading.</p><p><b>Visa Inc.</b> V reported better-than-expected earnings and sales results for its second quarter on Tuesday. Visa shares climbed 4.1% to $209.36 in the after-hours trading session.</p><p>Analysts expect <b>Meta Platforms, Inc.</b> FB to report quarterly earnings at $2.56 per share on revenue of $28.21 billion after the closing bell. Meta Platforms shares fell 2.4% to $176.64 in after-hours trading.</p><p>After the markets close, <b>Ford Motor Company</b> F is projected to post quarterly earnings at $0.37 per share on revenue of $31.24 billion. Ford shares fell 0.3% to $14.66 in after-hours trading.</p></body></html>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Stocks To Watch: Boeing, Alphabet, Microsoft and More</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\">\nU.S. Stocks To Watch: Boeing, Alphabet, Microsoft and More\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-27 16:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/earnings/22/04/26831483/7-stocks-to-watch-for-april-27-2022><strong>benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Some of the stocks that may grab investor focus today are:Wall Street expects The Boeing Company BA to report a quarterly loss at $0.12 per share on revenue of $15.83 billion before the opening bell. ...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/22/04/26831483/7-stocks-to-watch-for-april-27-2022\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BA":"波音","MSFT":"微软","GOOGL":"谷歌A","TMUS":"T-Mobile US Inc","F":"福特汽车","V":"Visa"},"source_url":"https://www.benzinga.com/news/earnings/22/04/26831483/7-stocks-to-watch-for-april-27-2022","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140483126","content_text":"Some of the stocks that may grab investor focus today are:Wall Street expects The Boeing Company BA to report a quarterly loss at $0.12 per share on revenue of $15.83 billion before the opening bell. Boeing shares fell 0.1% to $166.95 in after-hours trading.Alphabet Inc GOOGL reported weaker-than-expected earnings for its first quarter on Tuesday. The company’s board also authorized a huge stock buyback program of $70.0 billion of its Class A and Class C shares, representing about 4% of its market cap based on the last closing price. Alphabet shares dropped 3.2% to $2,314.62 in the after-hours trading session.Microsoft Corporation MSFT reported better-than-expected results for its third quarter. Microsoft shares jumped 4.5% to $282.40 in the after-hours trading session.Analysts are expecting T-Mobile US, Inc. TMUS to have earned $0.32 per share on revenue of $20.11 billion for the latest quarter. The company will release earnings before the markets open. T-Mobile shares gained 2.3% to $127.77 in after-hours trading.Visa Inc. V reported better-than-expected earnings and sales results for its second quarter on Tuesday. Visa shares climbed 4.1% to $209.36 in the after-hours trading session.Analysts expect Meta Platforms, Inc. FB to report quarterly earnings at $2.56 per share on revenue of $28.21 billion after the closing bell. Meta Platforms shares fell 2.4% to $176.64 in after-hours trading.After the markets close, Ford Motor Company F is projected to post quarterly earnings at $0.37 per share on revenue of $31.24 billion. Ford shares fell 0.3% to $14.66 in after-hours trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":297,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9098968658,"gmtCreate":1644009873915,"gmtModify":1676533880480,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9098968658","repostId":"2208314051","repostType":4,"repost":{"id":"2208314051","pubTimestamp":1643987174,"share":"https://www.laohu8.com/m/news/2208314051?lang=&edition=full","pubTime":"2022-02-04 23:06","market":"us","language":"en","title":"3 Hypergrowth Stocks That Can Soar 216% to 257% in 2022, According to Wall Street","url":"https://stock-news.laohu8.com/highlight/detail?id=2208314051","media":"Motley Fool","summary":"Analysts' lofty price targets imply some serious upside for these popular, fast-paced companies.","content":"<html><head></head><body><p>You may not realize it, but the broad-based <b>S&amp;P 500</b> enjoyed a historic bounce from the March 2020 pandemic low. It took less than 17 months for the index to double from its trough, which is pretty incredible when you consider that the average annual total return, including dividends, for the S&amp;P 500 is closer to 11% since the beginning of 1980.</p><p>Despite these big gains, select analysts and investment banks see a lot more upside for a small group of hypergrowth companies (those delivering jaw-dropping sales growth). If Wall Street&#39;s loftiest price targets for the following three fast-paced stocks prove accurate, they could soar 216% to 257% in 2022.</p><h2>Coinbase Global: Implied upside of 216%</h2><p>The first hypergrowth stock with immense upside this year is cryptocurrency exchange and ecosystem <b>Coinbase Global</b> (NASDAQ:COIN). Analyst Lisa Ellis of MoffettNathanson holds the high-water price target for Coinbase on Wall Street at $600. Should it reach this lofty figure, shareholders would realize a 216% return on their investment, based on where shares ended on Monday, Jan. 31.</p><p>If investors take a close look at Coinbase&#39;s operating performance, they&#39;re going to like what they see. As of the end of the third quarter, the number of monthly transacting users had more than tripled from the prior-year period to 7.4 million, with assets on the platform surging to $255 billion from $36 billion, year-over-year. Likewise, the company probably delivered more than $3 billion in net income in 2021.</p><p>A number of Wall Street analysts are clearly excited about the long-term prospects of the &#34;Big <a href=\"https://laohu8.com/S/TWOA.U\">Two</a>&#34; in crypto, <b>Bitcoin</b> and <b>Ethereum</b>, which account for a significant portion of Coinbase&#39;s exchange-based trading revenue. They&#39;re also intrigued about the company&#39;s ventures beyond crypto exchanges, such as setting up a non-fungible token (NFT) marketplace for users. NFTs are the proof of ownership of digital assets stored on blockchain.</p><p>Although cryptocurrencies have handily outperformed the stock market on an aggregate basis over the past couple of years, there&#39;s also a lot of risk that comes with such a lofty price target. For example, competition among crypto exchanges is heating up, not slowing down. Among traditional stock brokerages, commission wars eventually led to the elimination of these fees. It seemingly wouldn&#39;t be difficult for other crypto exchanges to undercut Coinbase&#39;s fees.</p><p>Another concern is that the company is almost entirely reliant on external factors instead of innovation to grow. With much of its growth reliant on the performance of Bitcoin and Ethereum, price weakness from the Big <a href=\"https://laohu8.com/S/TWOA\">Two</a>, or even a loss of interest from the investing community, could threaten to send revenue and profits markedly lower. It happened in 2018, and history suggests it could happen again.</p><p>In other words, I wouldn&#39;t expect Coinbase to get anywhere near $600 in 2022.</p><h2>Plug Power: Implied upside of 257%</h2><p>Another hypergrowth stock with the potential to skyrocket this year, at least according to <a href=\"https://laohu8.com/S/AONE.U\">one</a> Wall Street analyst, is hydrogen fuel-cell solutions provider <b>Plug Power</b> (NASDAQ:PLUG). Amit Dayal of H.C. Wainwright has Plug hitting a price target of $78, which implies up to 257% upside from where shares closed out January.</p><p>You could certainly say that Plug Power finds itself in the right place, at the right time. Most countries are looking for ways to reduce carbon emissions and promote green-energy solutions. This means Plug&#39;s hydrogen fuel-cell solutions for vehicles and individual machines (like forklifts), as well as its hydrogen infrastructure hubs, should be in high demand for many years to come.</p><p>What&#39;s really validated the potential for this company is the handful of major partnerships and joint ventures that have been struck since the beginning of 2021. For instance, SK Group took a 10% equity stake in the company in February 2021, with the duo forming a joint venture that&#39;ll focus on putting hydrogen fuel-cell vehicles on the road in numerous Asian markets. Around this time, Plug also formed a joint venture with French automaker <b>Renault</b>, known as Hyvia. Hyvia&#39;s goal is to go after 30% of the light commercial vehicle market in Europe.</p><p>Growth expectations for the company have been nothing short of phenomenal. In 2020, Plug Power brought in $337 million in revenue. By 2024, management has forecast $1.7 billion in annual gross billings. This year alone, Wall Street anticipates sales growth will exceed 80%.</p><p>Although this might sound like a slam-dunk investment, investors should also consider that Plug Power isn&#39;t yet profitable, and none of the 21 Wall Street analysts covering the company expect it to reach profitability in 2022. In an environment where interest rates are set to rise, unprofitable growth stocks often see their valuation multiples contract. While the technology and partnerships are intriguing, Plug Power has a lot to prove if it&#39;s ever going to hit $78 a share.</p><h2>Fiverr International: Implied upside of 216%</h2><p>A third hypergrowth stock with serious upside potential is online services marketplace <b>Fiverr International </b>(NYSE:FVRR). Though Wall Street&#39;s price targets have fluctuated wildly over the past year, the high-water estimate currently calls for Fiverr to hit $270. Should this lofty prognostication come to fruition, it would match Coinbase with a 216% gain.</p><p>To some extent, Fiverr&#39;s appeal comes from being in the right place when the coronavirus pandemic hit. It&#39;s a platform that connects freelancers with buyers of their services, and the market for remote workers exploded in the wake of the pandemic. With inflation also soaring, we&#39;re witnessing a hybrid-work environment where remote workers have incredible wage-pricing power.</p><p>However, Fiverr&#39;s persistently high sales growth rate is about more than just the pandemic. It&#39;s about providing a differentiated platform. Whereas competing online marketplaces push freelancers to price their services per hour, Fiverr&#39;s freelancers are pricing their services as a package deal. This leads to improved price transparency for buyers, and it&#39;s helped pushed Fiverr&#39;s take rate (what it gets to keep from arranging these deals on its platform) to levels that are well above its competition.</p><p>Fiverr is interested in targeting larger businesses with its marketplace, too. The launch of subscription-based Fiverr Business in September 2020 provides bigger companies with project management and collaborative tools that help them use freelancers effectively.</p><p>The big concern with Fiverr, similar to Plug Power, is the prospect of rising interest rates and the multiple contraction that typically accompanies a hawkish Federal Reserve. Wall Street&#39;s earnings forecast for 2022 is all over the place, with a consensus profit of $0.47 per share on the heels of 26% sales growth. Even with shares 75% below their all-time high, this works out to a price-to-earnings ratio of 182 and places the company at roughly 8 times projected sales.</p><p>Admittedly, this is far less expensive than where it was nearly a year ago, with shares hitting $336 on an intra-day basis. But even its current $85 share price could be deemed pricey given the uncertainty associated with the pandemic and the future of the hybrid-work environment.</p></body></html>","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>3 Hypergrowth Stocks That Can Soar 216% to 257% in 2022, According to Wall Street</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\">\n3 Hypergrowth Stocks That Can Soar 216% to 257% in 2022, According to Wall Street\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-04 23:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/02/04/3-hypergrowth-stocks-soar-216-to-257-wall-street/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>You may not realize it, but the broad-based S&P 500 enjoyed a historic bounce from the March 2020 pandemic low. It took less than 17 months for the index to double from its trough, which is pretty ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/02/04/3-hypergrowth-stocks-soar-216-to-257-wall-street/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4112":"金融交易所和数据","BK4122":"互联网与直销零售","BK4551":"寇图资本持仓","BK4535":"淡马锡持仓","PLUG":"普拉格能源","BK4541":"氢能源","FVRR":"Fiverr International Ltd.","BK4539":"次新股","BK4096":"电气部件与设备","COIN":"Coinbase Global, Inc.","BK4554":"元宇宙及AR概念",".SPX":"S&P 500 Index"},"source_url":"https://www.fool.com/investing/2022/02/04/3-hypergrowth-stocks-soar-216-to-257-wall-street/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2208314051","content_text":"You may not realize it, but the broad-based S&P 500 enjoyed a historic bounce from the March 2020 pandemic low. It took less than 17 months for the index to double from its trough, which is pretty incredible when you consider that the average annual total return, including dividends, for the S&P 500 is closer to 11% since the beginning of 1980.Despite these big gains, select analysts and investment banks see a lot more upside for a small group of hypergrowth companies (those delivering jaw-dropping sales growth). If Wall Street's loftiest price targets for the following three fast-paced stocks prove accurate, they could soar 216% to 257% in 2022.Coinbase Global: Implied upside of 216%The first hypergrowth stock with immense upside this year is cryptocurrency exchange and ecosystem Coinbase Global (NASDAQ:COIN). Analyst Lisa Ellis of MoffettNathanson holds the high-water price target for Coinbase on Wall Street at $600. Should it reach this lofty figure, shareholders would realize a 216% return on their investment, based on where shares ended on Monday, Jan. 31.If investors take a close look at Coinbase's operating performance, they're going to like what they see. As of the end of the third quarter, the number of monthly transacting users had more than tripled from the prior-year period to 7.4 million, with assets on the platform surging to $255 billion from $36 billion, year-over-year. Likewise, the company probably delivered more than $3 billion in net income in 2021.A number of Wall Street analysts are clearly excited about the long-term prospects of the \"Big Two\" in crypto, Bitcoin and Ethereum, which account for a significant portion of Coinbase's exchange-based trading revenue. They're also intrigued about the company's ventures beyond crypto exchanges, such as setting up a non-fungible token (NFT) marketplace for users. NFTs are the proof of ownership of digital assets stored on blockchain.Although cryptocurrencies have handily outperformed the stock market on an aggregate basis over the past couple of years, there's also a lot of risk that comes with such a lofty price target. For example, competition among crypto exchanges is heating up, not slowing down. Among traditional stock brokerages, commission wars eventually led to the elimination of these fees. It seemingly wouldn't be difficult for other crypto exchanges to undercut Coinbase's fees.Another concern is that the company is almost entirely reliant on external factors instead of innovation to grow. With much of its growth reliant on the performance of Bitcoin and Ethereum, price weakness from the Big Two, or even a loss of interest from the investing community, could threaten to send revenue and profits markedly lower. It happened in 2018, and history suggests it could happen again.In other words, I wouldn't expect Coinbase to get anywhere near $600 in 2022.Plug Power: Implied upside of 257%Another hypergrowth stock with the potential to skyrocket this year, at least according to one Wall Street analyst, is hydrogen fuel-cell solutions provider Plug Power (NASDAQ:PLUG). Amit Dayal of H.C. Wainwright has Plug hitting a price target of $78, which implies up to 257% upside from where shares closed out January.You could certainly say that Plug Power finds itself in the right place, at the right time. Most countries are looking for ways to reduce carbon emissions and promote green-energy solutions. This means Plug's hydrogen fuel-cell solutions for vehicles and individual machines (like forklifts), as well as its hydrogen infrastructure hubs, should be in high demand for many years to come.What's really validated the potential for this company is the handful of major partnerships and joint ventures that have been struck since the beginning of 2021. For instance, SK Group took a 10% equity stake in the company in February 2021, with the duo forming a joint venture that'll focus on putting hydrogen fuel-cell vehicles on the road in numerous Asian markets. Around this time, Plug also formed a joint venture with French automaker Renault, known as Hyvia. Hyvia's goal is to go after 30% of the light commercial vehicle market in Europe.Growth expectations for the company have been nothing short of phenomenal. In 2020, Plug Power brought in $337 million in revenue. By 2024, management has forecast $1.7 billion in annual gross billings. This year alone, Wall Street anticipates sales growth will exceed 80%.Although this might sound like a slam-dunk investment, investors should also consider that Plug Power isn't yet profitable, and none of the 21 Wall Street analysts covering the company expect it to reach profitability in 2022. In an environment where interest rates are set to rise, unprofitable growth stocks often see their valuation multiples contract. While the technology and partnerships are intriguing, Plug Power has a lot to prove if it's ever going to hit $78 a share.Fiverr International: Implied upside of 216%A third hypergrowth stock with serious upside potential is online services marketplace Fiverr International (NYSE:FVRR). Though Wall Street's price targets have fluctuated wildly over the past year, the high-water estimate currently calls for Fiverr to hit $270. Should this lofty prognostication come to fruition, it would match Coinbase with a 216% gain.To some extent, Fiverr's appeal comes from being in the right place when the coronavirus pandemic hit. It's a platform that connects freelancers with buyers of their services, and the market for remote workers exploded in the wake of the pandemic. With inflation also soaring, we're witnessing a hybrid-work environment where remote workers have incredible wage-pricing power.However, Fiverr's persistently high sales growth rate is about more than just the pandemic. It's about providing a differentiated platform. Whereas competing online marketplaces push freelancers to price their services per hour, Fiverr's freelancers are pricing their services as a package deal. This leads to improved price transparency for buyers, and it's helped pushed Fiverr's take rate (what it gets to keep from arranging these deals on its platform) to levels that are well above its competition.Fiverr is interested in targeting larger businesses with its marketplace, too. The launch of subscription-based Fiverr Business in September 2020 provides bigger companies with project management and collaborative tools that help them use freelancers effectively.The big concern with Fiverr, similar to Plug Power, is the prospect of rising interest rates and the multiple contraction that typically accompanies a hawkish Federal Reserve. Wall Street's earnings forecast for 2022 is all over the place, with a consensus profit of $0.47 per share on the heels of 26% sales growth. Even with shares 75% below their all-time high, this works out to a price-to-earnings ratio of 182 and places the company at roughly 8 times projected sales.Admittedly, this is far less expensive than where it was nearly a year ago, with shares hitting $336 on an intra-day basis. But even its current $85 share price could be deemed pricey given the uncertainty associated with the pandemic and the future of the hybrid-work environment.","news_type":1},"isVote":1,"tweetType":1,"viewCount":79,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9005511836,"gmtCreate":1642345905307,"gmtModify":1676533702914,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005511836","repostId":"2203201745","repostType":4,"repost":{"id":"2203201745","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":1642201908,"share":"https://www.laohu8.com/m/news/2203201745?lang=&edition=full","pubTime":"2022-01-15 07:11","market":"us","language":"en","title":"US STOCKS-Dow Closes Lower after Disappointing Bank Results","url":"https://stock-news.laohu8.com/highlight/detail?id=2203201745","media":"Reuters","summary":"The Dow closed lower with a big drag from financial stocks as investors were disappointed by fourth quarter results from big U.S. banks, which cast a shadow over the earnings season kick-off.The Nasda","content":"<html><head></head><body><p>The Dow closed lower with a big drag from financial stocks as investors were disappointed by fourth quarter results from big U.S. banks, which cast a shadow over the earnings season kick-off.</p><p>The Nasdaq and the S&amp;P regained lost ground in afternoon trading to close higher. Meanwhile the consumer discretionary</p><p>also put pressure on major indexes after morning data showed a December decline in retail sales and a souring of consumer sentiment.</p><p>JPMorgan Chase &amp; Co tumbled after reporting weaker performance at its trading arm. The bellwether lender also warned that soaring inflation, the looming threat of Omicron and trading revenues would challenge industry growth in coming months.</p><p>Along with JPMorgan, big decliners putting pressure on the Dow included Goldman Sachs, American Express and Home Depot.</p><p>$Citigroup Inc(C-N)$ shares fell after it reported a 26% drop in fourth-quarter profit, while asset manager BlackRock Inc</p><p>fell after missing quarterly revenue expectations.</p><p>The earnings kick-off had investors taking profits in the S&amp;P 500 bank subsector after it had hit an intraday high in the previous session. Financial stocks had been outperforming the S&amp;P recently as investors bet that the Federal Reserve&#39;s expected interest rate hikes will boost bank profits.</p><p>&#34;The bar was very high going into (JPMorgan) results. On the surface it was good but, under the hood, not so much,&#34; said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. In the interest rate hiking cycle expected this year &#34;positioning was very crowded on the long side&#34; going into the earnings season.</p><p>For consumer stock weakness, James pointed to &#34;clearly disappointing&#34; retail sales, which dropped 1.9% last month due to shortages of goods and an explosion of COVID-19 infections.</p><p>Separate data showed soaring inflation hit U.S. consumer sentiment in January, pushing it to its second lowest level in a decade.</p><p>Retail sales and bank loan growth raised doubts about the economic outlook for the current quarter and 2022 for Keith Buchanan, portfolio manager at Globalt in Atlanta.</p><p>&#34;The question is, does the economy have enough strength to get through the risk Omicron brings as fiscal and monetary stimulus is rolling off,&#34; Buchanan said.</p><p>According to preliminary data, the S&amp;P 500 gained 2.89 points, or 0.06%, to end at 4,661.92 points, while the Nasdaq Composite gained 81.98 points, or 0.55%, to 14,889.73. The Dow Jones Industrial Average fell 208.43 points, or 0.58%, to 35,905.19.</p><p>Analysts see S&amp;P 500 companies earnings rising 23.1% in the fourth quarter, according to IBES data from Refinitiv.</p><p>One bright spot in the bank sector on Friday however was Wells Fargo &amp; Co, which gained ground after posting a bigger-than-expected rise in fourth-quarter profit.</p><p>Casino operators Las Vegas Sands, Melco Resorts and Wynn Resorts rallied after Macau&#39;s government capped the number of new casino operators allowed to operate to six for a period of 10 years.</p><p>U.S. stock markets will remain shut on Monday for the public holiday in honor of Martin Luther King.</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>US STOCKS-Dow Closes Lower after Disappointing Bank Results</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\">\nUS STOCKS-Dow Closes Lower after Disappointing Bank Results\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\">2022-01-15 07:11</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The Dow closed lower with a big drag from financial stocks as investors were disappointed by fourth quarter results from big U.S. banks, which cast a shadow over the earnings season kick-off.</p><p>The Nasdaq and the S&amp;P regained lost ground in afternoon trading to close higher. Meanwhile the consumer discretionary</p><p>also put pressure on major indexes after morning data showed a December decline in retail sales and a souring of consumer sentiment.</p><p>JPMorgan Chase &amp; Co tumbled after reporting weaker performance at its trading arm. The bellwether lender also warned that soaring inflation, the looming threat of Omicron and trading revenues would challenge industry growth in coming months.</p><p>Along with JPMorgan, big decliners putting pressure on the Dow included Goldman Sachs, American Express and Home Depot.</p><p>$Citigroup Inc(C-N)$ shares fell after it reported a 26% drop in fourth-quarter profit, while asset manager BlackRock Inc</p><p>fell after missing quarterly revenue expectations.</p><p>The earnings kick-off had investors taking profits in the S&amp;P 500 bank subsector after it had hit an intraday high in the previous session. Financial stocks had been outperforming the S&amp;P recently as investors bet that the Federal Reserve&#39;s expected interest rate hikes will boost bank profits.</p><p>&#34;The bar was very high going into (JPMorgan) results. On the surface it was good but, under the hood, not so much,&#34; said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. In the interest rate hiking cycle expected this year &#34;positioning was very crowded on the long side&#34; going into the earnings season.</p><p>For consumer stock weakness, James pointed to &#34;clearly disappointing&#34; retail sales, which dropped 1.9% last month due to shortages of goods and an explosion of COVID-19 infections.</p><p>Separate data showed soaring inflation hit U.S. consumer sentiment in January, pushing it to its second lowest level in a decade.</p><p>Retail sales and bank loan growth raised doubts about the economic outlook for the current quarter and 2022 for Keith Buchanan, portfolio manager at Globalt in Atlanta.</p><p>&#34;The question is, does the economy have enough strength to get through the risk Omicron brings as fiscal and monetary stimulus is rolling off,&#34; Buchanan said.</p><p>According to preliminary data, the S&amp;P 500 gained 2.89 points, or 0.06%, to end at 4,661.92 points, while the Nasdaq Composite gained 81.98 points, or 0.55%, to 14,889.73. The Dow Jones Industrial Average fell 208.43 points, or 0.58%, to 35,905.19.</p><p>Analysts see S&amp;P 500 companies earnings rising 23.1% in the fourth quarter, according to IBES data from Refinitiv.</p><p>One bright spot in the bank sector on Friday however was Wells Fargo &amp; Co, which gained ground after posting a bigger-than-expected rise in fourth-quarter profit.</p><p>Casino operators Las Vegas Sands, Melco Resorts and Wynn Resorts rallied after Macau&#39;s government capped the number of new casino operators allowed to operate to six for a period of 10 years.</p><p>U.S. stock markets will remain shut on Monday for the public holiday in honor of Martin Luther King.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4083":"家庭装潢零售","GS":"高盛","AXP":"美国运通",".DJI":"道琼斯","BK4559":"巴菲特持仓","BK4567":"ESG概念","SPY":"标普500ETF","BK4534":"瑞士信贷持仓","BK4166":"消费信贷",".IXIC":"NASDAQ Composite","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4504":"桥水持仓","BK4550":"红杉资本持仓",".SPX":"S&P 500 Index","BK4566":"资本集团","HD":"家得宝"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2203201745","content_text":"The Dow closed lower with a big drag from financial stocks as investors were disappointed by fourth quarter results from big U.S. banks, which cast a shadow over the earnings season kick-off.The Nasdaq and the S&P regained lost ground in afternoon trading to close higher. Meanwhile the consumer discretionaryalso put pressure on major indexes after morning data showed a December decline in retail sales and a souring of consumer sentiment.JPMorgan Chase & Co tumbled after reporting weaker performance at its trading arm. The bellwether lender also warned that soaring inflation, the looming threat of Omicron and trading revenues would challenge industry growth in coming months.Along with JPMorgan, big decliners putting pressure on the Dow included Goldman Sachs, American Express and Home Depot.$Citigroup Inc(C-N)$ shares fell after it reported a 26% drop in fourth-quarter profit, while asset manager BlackRock Incfell after missing quarterly revenue expectations.The earnings kick-off had investors taking profits in the S&P 500 bank subsector after it had hit an intraday high in the previous session. Financial stocks had been outperforming the S&P recently as investors bet that the Federal Reserve's expected interest rate hikes will boost bank profits.\"The bar was very high going into (JPMorgan) results. On the surface it was good but, under the hood, not so much,\" said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. In the interest rate hiking cycle expected this year \"positioning was very crowded on the long side\" going into the earnings season.For consumer stock weakness, James pointed to \"clearly disappointing\" retail sales, which dropped 1.9% last month due to shortages of goods and an explosion of COVID-19 infections.Separate data showed soaring inflation hit U.S. consumer sentiment in January, pushing it to its second lowest level in a decade.Retail sales and bank loan growth raised doubts about the economic outlook for the current quarter and 2022 for Keith Buchanan, portfolio manager at Globalt in Atlanta.\"The question is, does the economy have enough strength to get through the risk Omicron brings as fiscal and monetary stimulus is rolling off,\" Buchanan said.According to preliminary data, the S&P 500 gained 2.89 points, or 0.06%, to end at 4,661.92 points, while the Nasdaq Composite gained 81.98 points, or 0.55%, to 14,889.73. The Dow Jones Industrial Average fell 208.43 points, or 0.58%, to 35,905.19.Analysts see S&P 500 companies earnings rising 23.1% in the fourth quarter, according to IBES data from Refinitiv.One bright spot in the bank sector on Friday however was Wells Fargo & Co, which gained ground after posting a bigger-than-expected rise in fourth-quarter profit.Casino operators Las Vegas Sands, Melco Resorts and Wynn Resorts rallied after Macau's government capped the number of new casino operators allowed to operate to six for a period of 10 years.U.S. stock markets will remain shut on Monday for the public holiday in honor of Martin Luther King.","news_type":1},"isVote":1,"tweetType":1,"viewCount":112,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860440909,"gmtCreate":1632203262301,"gmtModify":1676530724644,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/860440909","repostId":"2169681424","repostType":4,"repost":{"id":"2169681424","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":1632178073,"share":"https://www.laohu8.com/m/news/2169681424?lang=&edition=full","pubTime":"2021-09-21 06:47","market":"us","language":"en","title":"Wall Street ends sharply lower in broad sell-off","url":"https://stock-news.laohu8.com/highlight/detail?id=2169681424","media":"Reuters","summary":"* All eyes on Fed's policy meeting later this week\n* Indexes: Dow down 1.8%, S&P 500 down 1.7%, Nasd","content":"<p>* All eyes on Fed's policy meeting later this week</p>\n<p>* Indexes: Dow down 1.8%, S&amp;P 500 down 1.7%, Nasdaq down 2.2%</p>\n<p>NEW YORK, Sept 20 (Reuters) - Wall Street fell in a broad sell-off on Monday, with the S&amp;P 500 and Nasdaq suffering their biggest daily percentage drops since May.</p>\n<p>The Nasdaq also hit its lowest level in about a month, but indexes pared losses just before the close to end well off their lows of the session. The Nasdaq was down more than 3% during the day.</p>\n<p>Microsoft Corp, Alphabet Inc, Amazon.com Inc, Apple Inc, <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc and Tesla Inc were among the biggest drags on the Nasdaq and the S&amp;P 500.</p>\n<p>All 11 major S&amp;P 500 sectors were lower, with economically sensitive groups like energy, which fell 3%, down the most. Defensive sectors including utilities were down the least.</p>\n<p>Investors also were nervous ahead of the Federal Reserve's policy meeting this week.</p>\n<p>The banking sub-index dropped 2.9% while U.S. Treasury prices rose.</p>\n<p>Wednesday will bring the results of the Fed's policy meeting, where the central bank is expected to lay the groundwork for a tapering, although the consensus is for an actual announcement to be delayed until the November or December meetings.</p>\n<p>The Dow Jones Industrial Average fell 614.41 points, or 1.78%, to 33,970.47, the S&amp;P 500 lost 75.26 points, or 1.70%, to 4,357.73 and the Nasdaq Composite dropped 330.07 points, or 2.19%, to 14,713.90.</p>\n<p>The Dow registered its biggest daily percentage drop since July, while the CBOE volatility index, known as Wall Street's fear gauge, rose.</p>\n<p>The S&amp;P 500 is now down about 4% from its Sept. 2 record high close.</p>\n<p>Strategists at <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> said they expected a 10% correction in the S&amp;P 500 as the Fed starts to unwind its monetary support, adding that signs of stalling economic growth could deepen it to 20%.</p>\n<p>Most airline carriers ended higher after the United States announced it will relax travel restrictions in November on passengers from China, India, Britain and many other European countries who have received COVID-19 vaccines.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 5.40-to-1 ratio; on Nasdaq, a 4.66-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted no new 52-week highs and three new lows; the Nasdaq Composite recorded 23 new highs and 193 new lows.</p>\n<p>Volume on U.S. exchanges was 12.24 billion shares, compared with the 9.89 billion average for the full session over the last 20 trading days.</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>Wall Street ends sharply lower in broad sell-off</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street ends sharply lower in broad sell-off\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\">2021-09-21 06:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>* All eyes on Fed's policy meeting later this week</p>\n<p>* Indexes: Dow down 1.8%, S&amp;P 500 down 1.7%, Nasdaq down 2.2%</p>\n<p>NEW YORK, Sept 20 (Reuters) - Wall Street fell in a broad sell-off on Monday, with the S&amp;P 500 and Nasdaq suffering their biggest daily percentage drops since May.</p>\n<p>The Nasdaq also hit its lowest level in about a month, but indexes pared losses just before the close to end well off their lows of the session. The Nasdaq was down more than 3% during the day.</p>\n<p>Microsoft Corp, Alphabet Inc, Amazon.com Inc, Apple Inc, <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc and Tesla Inc were among the biggest drags on the Nasdaq and the S&amp;P 500.</p>\n<p>All 11 major S&amp;P 500 sectors were lower, with economically sensitive groups like energy, which fell 3%, down the most. Defensive sectors including utilities were down the least.</p>\n<p>Investors also were nervous ahead of the Federal Reserve's policy meeting this week.</p>\n<p>The banking sub-index dropped 2.9% while U.S. Treasury prices rose.</p>\n<p>Wednesday will bring the results of the Fed's policy meeting, where the central bank is expected to lay the groundwork for a tapering, although the consensus is for an actual announcement to be delayed until the November or December meetings.</p>\n<p>The Dow Jones Industrial Average fell 614.41 points, or 1.78%, to 33,970.47, the S&amp;P 500 lost 75.26 points, or 1.70%, to 4,357.73 and the Nasdaq Composite dropped 330.07 points, or 2.19%, to 14,713.90.</p>\n<p>The Dow registered its biggest daily percentage drop since July, while the CBOE volatility index, known as Wall Street's fear gauge, rose.</p>\n<p>The S&amp;P 500 is now down about 4% from its Sept. 2 record high close.</p>\n<p>Strategists at <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> said they expected a 10% correction in the S&amp;P 500 as the Fed starts to unwind its monetary support, adding that signs of stalling economic growth could deepen it to 20%.</p>\n<p>Most airline carriers ended higher after the United States announced it will relax travel restrictions in November on passengers from China, India, Britain and many other European countries who have received COVID-19 vaccines.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 5.40-to-1 ratio; on Nasdaq, a 4.66-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted no new 52-week highs and three new lows; the Nasdaq Composite recorded 23 new highs and 193 new lows.</p>\n<p>Volume on U.S. exchanges was 12.24 billion shares, compared with the 9.89 billion average for the full session over the last 20 trading days.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SH":"标普500反向ETF","QID":"纳指两倍做空ETF","SPXU":"三倍做空标普500ETF","IVV":"标普500指数ETF","DDM":"道指两倍做多ETF","DOG":"道指反向ETF","SPY":"标普500ETF","PSQ":"纳指反向ETF","UPRO":"三倍做多标普500ETF","UDOW":"道指三倍做多ETF-ProShares","QLD":"纳指两倍做多ETF","DXD":"道指两倍做空ETF",".DJI":"道琼斯","QQQ":"纳指100ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","OEX":"标普100","TQQQ":"纳指三倍做多ETF","OEF":"标普100指数ETF-iShares","SDOW":"道指三倍做空ETF-ProShares","SSO":"两倍做多标普500ETF","SDS":"两倍做空标普500ETF","DJX":"1/100道琼斯","SQQQ":"纳指三倍做空ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2169681424","content_text":"* All eyes on Fed's policy meeting later this week\n* Indexes: Dow down 1.8%, S&P 500 down 1.7%, Nasdaq down 2.2%\nNEW YORK, Sept 20 (Reuters) - Wall Street fell in a broad sell-off on Monday, with the S&P 500 and Nasdaq suffering their biggest daily percentage drops since May.\nThe Nasdaq also hit its lowest level in about a month, but indexes pared losses just before the close to end well off their lows of the session. The Nasdaq was down more than 3% during the day.\nMicrosoft Corp, Alphabet Inc, Amazon.com Inc, Apple Inc, Facebook Inc and Tesla Inc were among the biggest drags on the Nasdaq and the S&P 500.\nAll 11 major S&P 500 sectors were lower, with economically sensitive groups like energy, which fell 3%, down the most. Defensive sectors including utilities were down the least.\nInvestors also were nervous ahead of the Federal Reserve's policy meeting this week.\nThe banking sub-index dropped 2.9% while U.S. Treasury prices rose.\nWednesday will bring the results of the Fed's policy meeting, where the central bank is expected to lay the groundwork for a tapering, although the consensus is for an actual announcement to be delayed until the November or December meetings.\nThe Dow Jones Industrial Average fell 614.41 points, or 1.78%, to 33,970.47, the S&P 500 lost 75.26 points, or 1.70%, to 4,357.73 and the Nasdaq Composite dropped 330.07 points, or 2.19%, to 14,713.90.\nThe Dow registered its biggest daily percentage drop since July, while the CBOE volatility index, known as Wall Street's fear gauge, rose.\nThe S&P 500 is now down about 4% from its Sept. 2 record high close.\nStrategists at Morgan Stanley said they expected a 10% correction in the S&P 500 as the Fed starts to unwind its monetary support, adding that signs of stalling economic growth could deepen it to 20%.\nMost airline carriers ended higher after the United States announced it will relax travel restrictions in November on passengers from China, India, Britain and many other European countries who have received COVID-19 vaccines.\nDeclining issues outnumbered advancing ones on the NYSE by a 5.40-to-1 ratio; on Nasdaq, a 4.66-to-1 ratio favored decliners.\nThe S&P 500 posted no new 52-week highs and three new lows; the Nasdaq Composite recorded 23 new highs and 193 new lows.\nVolume on U.S. exchanges was 12.24 billion shares, compared with the 9.89 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887009418,"gmtCreate":1631938710134,"gmtModify":1676530674748,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/887009418","repostId":"2168716185","repostType":4,"repost":{"id":"2168716185","pubTimestamp":1631916051,"share":"https://www.laohu8.com/m/news/2168716185?lang=&edition=full","pubTime":"2021-09-18 06:00","market":"us","language":"en","title":"Wall Street closes rollercoaster week sharply lower","url":"https://stock-news.laohu8.com/highlight/detail?id=2168716185","media":"The Straits Times","summary":"NEW YORK  - US stocks ended sharply lower in a broad sell-off on Friday , ending a week buffeted by strong economic data, corporate tax hike worries, the Delta Covid-19 variant, and possible shifts in the US Federal Reserve's timeline for tapering asset purchases.All three major US stock indexes lost ground, with the Nasdaq Composite Index's weighed down as rising US Treasury yields pressured market-leading growth stocks.They also posted weekly losses, with the S&P index suffering its biggest tw","content":"<div>\n<p>NEW YORK (REUTERS) - US stocks ended sharply lower in a broad sell-off on Friday (Sept 17), ending a week buffeted by strong economic data, corporate tax hike worries, the Delta Covid-19 variant, and ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/wall-street-closes-rollercoaster-week-sharply-lower\">Web Link</a>\n\n</div>\n","source":"straits_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>Wall Street closes rollercoaster week sharply lower</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\">\nWall Street closes rollercoaster week sharply lower\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-18 06:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.straitstimes.com/business/companies-markets/wall-street-closes-rollercoaster-week-sharply-lower><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (REUTERS) - US stocks ended sharply lower in a broad sell-off on Friday (Sept 17), ending a week buffeted by strong economic data, corporate tax hike worries, the Delta Covid-19 variant, and ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/wall-street-closes-rollercoaster-week-sharply-lower\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SSO":"两倍做多标普500ETF","UPRO":"三倍做多标普500ETF","OEX":"标普100",".SPX":"S&P 500 Index","SPXU":"三倍做空标普500ETF","SDS":"两倍做空标普500ETF","IVV":"标普500指数ETF","OEF":"标普100指数ETF-iShares","SH":"标普500反向ETF"},"source_url":"http://www.straitstimes.com/business/companies-markets/wall-street-closes-rollercoaster-week-sharply-lower","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2168716185","content_text":"NEW YORK (REUTERS) - US stocks ended sharply lower in a broad sell-off on Friday (Sept 17), ending a week buffeted by strong economic data, corporate tax hike worries, the Delta Covid-19 variant, and possible shifts in the US Federal Reserve's timeline for tapering asset purchases.\nAll three major US stock indexes lost ground, with the Nasdaq Composite Index's weighed down as rising US Treasury yields pressured market-leading growth stocks.\nThey also posted weekly losses, with the S&P index suffering its biggest two-week drop since February.\n\"The market is struggling with prospects for tighter fiscal policy due to tax increases, and tighter monetary policy due to Fed tapering,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York.\n\"Equity markets are also a little softer due to today's weak Consumer Sentiment data,\" Carter added. \"It's triggering concerns that the Delta variant could slow economic growth.\"\nA potential hike in corporate taxes could eat into earnings also weigh on markets, with leading Democrats seeking to raise the top tax rate on corporations to 26.5 per cent from the current 21 per cent.\nWhile consumer sentiment steadied this month it remains depressed, according to a University of Michigan report, as Americans postpone purchases while inflation remains high.\nInflation is likely to be a major issue next week, when the Federal Open Markets Committee holds its two-day monetary policy meeting. Market participants will be watching closely for changes in nuance which could signal a shift in the Fed's tapering timeline.\n\"It has been a week of mixed economic data and we are focused clearly on what will come out of the Fed meeting next week,\" said Bill Northey, senior investment director at US Bank Wealth Management in Helena, Montana.\nThe Dow Jones Industrial Average fell 166.44 points, or 0.48 per cent, to 34,584.88; the S&P 500 lost 40.76 points, or 0.91 per cent, at 4,432.99; and the Nasdaq Composite dropped 137.96 points, or 0.91 per cent, to 15,043.97.\nThe S&P 500 ended below its 50-day moving average, which in recent history has proven a rather sturdy support level.\nOf the 11 major sectors in the S&P 500, all but healthcare ended in the red, with materials and utilities suffering the biggest percentage drops.\nWall Street ends rollercoaster week sharply lower\nCovid-19 vaccine manufacturers Pfizer and Moderna dropped 1.3 per cent and 2.4 per cent, respectively, as US health officials moved the debate over booster doses to a panel of independent experts.\nUS Steel Corp shed 8 per cent after it unveiled a US$3 billion (S$4 billion) mini-mill investment plan.\nVolume and volatility spiked toward the end of the session due to \"triple witching,\" which is the quarterly, simultaneous expiration of stock options, stock index futures, and stock index options contracts.\nVolume on US exchanges was 15.51 billion shares, compared with the 9.70 billion average over the last 20 trading days.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.97-to-1 ratio; on Nasdaq, a 1.00-to-1 ratio favoured advancers.\nThe S&P 500 posted seven new 52-week highs and two new lows; the Nasdaq Composite recorded 67 new highs and 82 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":7,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818159568,"gmtCreate":1630387357054,"gmtModify":1676530288547,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/818159568","repostId":"2163833181","repostType":4,"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156889140,"gmtCreate":1625210557080,"gmtModify":1703738424237,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls. Thank you!","listText":"Like pls. Thank you!","text":"Like pls. Thank you!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/156889140","repostId":"1125498032","repostType":4,"repost":{"id":"1125498032","pubTimestamp":1625210213,"share":"https://www.laohu8.com/m/news/1125498032?lang=&edition=full","pubTime":"2021-07-02 15:16","market":"us","language":"en","title":"Alibaba’s Jack Ma, Joe Tsai Pledge Shares for Loans, FT Reports","url":"https://stock-news.laohu8.com/highlight/detail?id=1125498032","media":"Bloomberg","summary":"(Bloomberg) -- Alibaba Group Holding Ltd.’s largest individual shareholders Jack Ma and Joe Tsai ple","content":"<p>(Bloomberg) -- Alibaba Group Holding Ltd.’s largest individual shareholders Jack Ma and Joe Tsai pledged parts of their combined $35 billion stake in the e-commerce giant in exchange for significant loans from banks, the Financial Times reported, citing company documents.</p>\n<p>The share pledges were made by offshore companies controlling more than half of the duo’s stake in Alibaba, which stood at 5.8% as of December, according to the FT. The documents didn’t disclose the amount of the share pledges, which began when Alibaba listed in the U.S. in 2014.</p>\n<p>The two billionaires pledged their shares to banks including UBS Group AG, Credit Suisse Group AG and Goldman Sachs Group Inc., the newspaper reported.</p>\n<p>Alibaba told the FT that co-founder Ma and his affiliates currently did not have any loans outstanding collateralized by the company’s shares. In Vice Chairman Tsai’s case, his outstanding loans backed by shares were easily manageable, with prudent loan-to-value ratios to provide a substantial cushion against triggering a margin call, the report cited Alibaba as saying.</p>","source":"lsy1612507957220","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’s Jack Ma, Joe Tsai Pledge Shares for Loans, FT Reports</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’s Jack Ma, Joe Tsai Pledge Shares for Loans, FT Reports\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-02 15:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/alibaba-jack-ma-joe-tsai-064725338.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Alibaba Group Holding Ltd.’s largest individual shareholders Jack Ma and Joe Tsai pledged parts of their combined $35 billion stake in the e-commerce giant in exchange for significant ...</p>\n\n<a href=\"https://finance.yahoo.com/news/alibaba-jack-ma-joe-tsai-064725338.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴"},"source_url":"https://finance.yahoo.com/news/alibaba-jack-ma-joe-tsai-064725338.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125498032","content_text":"(Bloomberg) -- Alibaba Group Holding Ltd.’s largest individual shareholders Jack Ma and Joe Tsai pledged parts of their combined $35 billion stake in the e-commerce giant in exchange for significant loans from banks, the Financial Times reported, citing company documents.\nThe share pledges were made by offshore companies controlling more than half of the duo’s stake in Alibaba, which stood at 5.8% as of December, according to the FT. The documents didn’t disclose the amount of the share pledges, which began when Alibaba listed in the U.S. in 2014.\nThe two billionaires pledged their shares to banks including UBS Group AG, Credit Suisse Group AG and Goldman Sachs Group Inc., the newspaper reported.\nAlibaba told the FT that co-founder Ma and his affiliates currently did not have any loans outstanding collateralized by the company’s shares. In Vice Chairman Tsai’s case, his outstanding loans backed by shares were easily manageable, with prudent loan-to-value ratios to provide a substantial cushion against triggering a margin call, the report cited Alibaba as saying.","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169800629,"gmtCreate":1623825006661,"gmtModify":1703820613175,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Comment and like please!","listText":"Comment and like please!","text":"Comment and like please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/169800629","repostId":"1105892749","repostType":4,"repost":{"id":"1105892749","pubTimestamp":1623809672,"share":"https://www.laohu8.com/m/news/1105892749?lang=&edition=full","pubTime":"2021-06-16 10:14","market":"us","language":"en","title":"Tesla Bulls Look for Stock Catalysts. They Found Three.","url":"https://stock-news.laohu8.com/highlight/detail?id=1105892749","media":"Barrons","summary":"Weak performance from Tesla stock has bullish analysts feeling disappointed these days. They are looking for catalysts to break shares out of their recent funk.That performance is flummoxing Tesla bulls. “Let’s begin with a healthy dose of intellectual honesty on the starting point for the stock,” writes Morgan Stanley analyst Adam Jonas in a Monday evening report. He is a Tesla bull rating shares Buy. His price target for the stock is $900 a share, almost 50% higher than recent levels. “Even bu","content":"<p>Weak performance from Tesla stock has bullish analysts feeling disappointed these days. They are looking for catalysts to break shares out of their recent funk.</p>\n<p>Tesla stock (ticker: TSLA) is down about 15% year to date and off about 50% from its January 52-week high of $900.40. Tesla has ceded leadership—from a stock perspective—back to traditional auto makers: General Motors (GM) and Ford Motor (F) shares are up 45% and 70% year to date, respectively.</p>\n<p>That performance is flummoxing Tesla bulls. “Let’s begin with a healthy dose of intellectual honesty on the starting point for the stock,” writes Morgan Stanley analyst&nbsp;Adam Jonas&nbsp;in a Monday evening report. He is a Tesla bull rating shares Buy. His price target for the stock is $900 a share, almost 50% higher than recent levels. “Even bulls should admit that the rise in the stock price during the second half of 2020, while perhaps deserved in principle, was packed into a&nbsp;highly concentrated&nbsp;time frame,” he writes.</p>\n<p>Tesla shares rose 227% in the second half of 2020, buoyed by strong earnings, strong deliveries, and the stock’s inclusion in the&nbsp;S&amp;P 500.</p>\n<p>“The stock had the better part of five years-worth of performance packed into about five month,” Jonas adds. He says his clients are now looking for the next big thing that can drive the stock forward again. His ideas include capacity expansion in Texas and Germany. After that, he predicts Tesla will open up five more plants between now and the middle of this decade.</p>\n<p>Jonas is also looking for Tesla to unveil another new vehicle model. By his estimation, Tesla covers only about 15% of the total addressable market for the auto industry with its Y, X, 3, and S models. Model expansion will be a positive. That isn’t on the near-term horizon, though the company is due to deliver its Cybertruck later in 2021.</p>\n<p>Canaccord analyst&nbsp;Jonathan Dorsheimer&nbsp;is looking in a different area for a catalyst: residential solar power. Part of the reason he is bullish is that “Tesla is creating an energy brand and an Apple-esque ecosystem of products with customer focused connectivity, seamlessly marrying car, solar, and back-up power,” he wrote in a report released Sunday.</p>\n<p>Dorsheimer is bullish, but feeling a little down lately. He still rates the stock Buy, but he cut his&nbsp;price target&nbsp;to $812 from $974 in his report. Among other things, he is disappointed by battery delays. Tesla is planning to use larger battery cells that promise better range, charge time, and costs. Those batteries aren’t available yet.</p>\n<p>Looking a little further back, Goldman Sachs analyst&nbsp;Mark Delaney&nbsp;was watching Tesla’s Model S Plaid delivery event last week. The Plaid can go zero to 60 miles per hour in less than two seconds. Delaney was impressed by the technology, but pointed out the Plaid, at roughly $130,000, is a niche vehicle. He is looking for 2021 deliveries to exceed expectations. Delaney is modeling 875,000 vehicles for Tesla in 2021. The Wall Street consensus number is closer to 825,000.</p>\n<p>Delaney rates shares Buy and has an $860 price target.</p>\n<p>New production ramping up, strong deliveries, and a growing solar business is what these three will watch for in coming months. If all goes well, those catalysts should be enough to drive Tesla stock higher, as long as there is no bad news in the meantime.</p>\n<p>Tesla stock was down 3%&nbsp;to $599.36&nbsp;on&nbsp;Tuesday, and down slightly for the week.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Bulls Look for Stock Catalysts. They Found Three.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Bulls Look for Stock Catalysts. They Found Three.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 10:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-bulls-look-for-stock-catalysts-they-found-three-51623774479?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Weak performance from Tesla stock has bullish analysts feeling disappointed these days. They are looking for catalysts to break shares out of their recent funk.\nTesla stock (ticker: TSLA) is down ...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-bulls-look-for-stock-catalysts-they-found-three-51623774479?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-bulls-look-for-stock-catalysts-they-found-three-51623774479?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105892749","content_text":"Weak performance from Tesla stock has bullish analysts feeling disappointed these days. They are looking for catalysts to break shares out of their recent funk.\nTesla stock (ticker: TSLA) is down about 15% year to date and off about 50% from its January 52-week high of $900.40. Tesla has ceded leadership—from a stock perspective—back to traditional auto makers: General Motors (GM) and Ford Motor (F) shares are up 45% and 70% year to date, respectively.\nThat performance is flummoxing Tesla bulls. “Let’s begin with a healthy dose of intellectual honesty on the starting point for the stock,” writes Morgan Stanley analyst Adam Jonas in a Monday evening report. He is a Tesla bull rating shares Buy. His price target for the stock is $900 a share, almost 50% higher than recent levels. “Even bulls should admit that the rise in the stock price during the second half of 2020, while perhaps deserved in principle, was packed into a highly concentrated time frame,” he writes.\nTesla shares rose 227% in the second half of 2020, buoyed by strong earnings, strong deliveries, and the stock’s inclusion in the S&P 500.\n“The stock had the better part of five years-worth of performance packed into about five month,” Jonas adds. He says his clients are now looking for the next big thing that can drive the stock forward again. His ideas include capacity expansion in Texas and Germany. After that, he predicts Tesla will open up five more plants between now and the middle of this decade.\nJonas is also looking for Tesla to unveil another new vehicle model. By his estimation, Tesla covers only about 15% of the total addressable market for the auto industry with its Y, X, 3, and S models. Model expansion will be a positive. That isn’t on the near-term horizon, though the company is due to deliver its Cybertruck later in 2021.\nCanaccord analyst Jonathan Dorsheimer is looking in a different area for a catalyst: residential solar power. Part of the reason he is bullish is that “Tesla is creating an energy brand and an Apple-esque ecosystem of products with customer focused connectivity, seamlessly marrying car, solar, and back-up power,” he wrote in a report released Sunday.\nDorsheimer is bullish, but feeling a little down lately. He still rates the stock Buy, but he cut his price target to $812 from $974 in his report. Among other things, he is disappointed by battery delays. Tesla is planning to use larger battery cells that promise better range, charge time, and costs. Those batteries aren’t available yet.\nLooking a little further back, Goldman Sachs analyst Mark Delaney was watching Tesla’s Model S Plaid delivery event last week. The Plaid can go zero to 60 miles per hour in less than two seconds. Delaney was impressed by the technology, but pointed out the Plaid, at roughly $130,000, is a niche vehicle. He is looking for 2021 deliveries to exceed expectations. Delaney is modeling 875,000 vehicles for Tesla in 2021. The Wall Street consensus number is closer to 825,000.\nDelaney rates shares Buy and has an $860 price target.\nNew production ramping up, strong deliveries, and a growing solar business is what these three will watch for in coming months. If all goes well, those catalysts should be enough to drive Tesla stock higher, as long as there is no bad news in the meantime.\nTesla stock was down 3% to $599.36 on Tuesday, and down slightly for the week.","news_type":1},"isVote":1,"tweetType":1,"viewCount":66,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3578545886341911","authorId":"3578545886341911","name":"Johnlimwt","avatar":"https://static.tigerbbs.com/a1adeee2347b67dfd778339494a5fd26","crmLevel":2,"crmLevelSwitch":0},"content":"Done, please reSpond too","text":"Done, please reSpond too","html":"Done, please reSpond too"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9010898162,"gmtCreate":1648330700509,"gmtModify":1676534327418,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9010898162","repostId":"1196027616","repostType":4,"repost":{"id":"1196027616","pubTimestamp":1648255536,"share":"https://www.laohu8.com/m/news/1196027616?lang=&edition=full","pubTime":"2022-03-26 08:45","market":"us","language":"en","title":"Stock-Market Investors Should Watch the \"Best Leading Indicator of Trouble Ahead\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1196027616","media":"MarketWatch","summary":"Investors have been watching the U.S. Treasury yield curve for inversions, a reliable predictor of p","content":"<html><head></head><body><p>Investors have been watching the U.S. Treasury yield curve for inversions, a reliable predictor of past economic downturns.</p><p>They don’t always agree on which part of the curve is best to watch though.</p><p>“Yield curve inversion, and flatting, has been at the forefront for everyone,” said Pete Duffy, chief investment officer at Penn Capital Management Company, in Philadelphia, by phone.</p><p>“That’s because the Fed is so active and rates suddenly have gone up so quickly.”</p><p>An inversion of the yield curve happens when rates on longer bonds fall below those of shorter-term debt, a sign that investors think economic woes could lie ahead. Fears of an economic slowdown have been mounting as the Federal Reserve starts to tighten financial conditions while Russia’s Ukraine invasion threatens to keep key drivers of U.S. inflation high.</p><p>Lately, the attention has been on the 10-year Treasury yield TMUBMUSD10Y, 2.478% and shorter 2-year yield, where the spread fell to 13 basis points on Tuesday, up from a high of about 130 basis points five months ago.</p><p>Read: The yield curve is speeding toward inversion — here’s what investors need to know</p><p>But that’s not the only plot on the Treasury yield curve investors closely watch. The Treasury Department sells securities that mature in a range from a few days to 30 years, providing a lot of plots on the curve to follow.</p><p>“The focus has been on the 10s and 2s,” said Mark Heppenstall, chief investment officer at Penn Mutual Asset Management, in Horsham, Penn, a northern suburb of Philadelphia.</p><p>“I will hold out until the 10s to 3-month bills inverts before I turn too negative on the economic outlook,” he said, calling it “the best leading indicator of trouble ahead.”</p><h2>Watch 10-year, 3-month</h2><p>Instead of falling, that spread climbed in March, continuing its path higher since turning negative two years ago at the onset of the pandemic (see chart).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7fe28818cd1806ee5afd5519332cf483\" tg-width=\"700\" tg-height=\"579\" width=\"100%\" height=\"auto\"/><span>The 3-month to 10-year yield spread is climbing Bloomberg data, Goelzer Investment Management</span></p><p>“The 3-month Treasury bill really tracks the Federal Reserve’s target rate,” said Gavin Stephens, director of portfolio management at Goelzer Investment Management in Indiana, by phone.</p><p>“So it gives you a more immediate picture of if the Federal Reserve has entered a restrictive state in terms of monetary policy and, thus, giving the possibility that economic growth is going to contract, which would be bad for stocks.”</p><p>Stocks were lower Friday, but with the S&amp;P 500 index SPX, +0.51% and the Nasdaq Composite Index COMP, -0.16% still up about 1.2% on the week. The three major indexes were 4.5% to 10.1% lower so far in 2022, according to FactSet.</p><p>By watching the 10s and 2s TMUBMUSD02Y, 2.280% spread, “You are looking at the expectations of where Fed Reserve interest rate policy is going to be over a period of two years,” Stephens said. “So, effectively, it’s working with a lag.”</p><p>On average, from the time the 10s and 2s curve inverts, until “there’s a recession, it’s almost two years,” he said, predicting that with unemployment recently pegged around 3.8% that, “this curve is going to invert when the economy is really strong.”</p><p>The Federal Reserve Bank of San Francisco also called the 3-month TMUBMUSD03M, 0.535% and 10-year curve relationship its “preferred spread measure because it has the strongest predictive power for future recessions,” such as in 2019, back when the yield curve was more regularly flashing recession warning signs.</p><p>“Did it see COVID coming?” Duffy said, of earlier yield curve inversions.</p><p>A more likely catalyst was that investors already were on a recession watch, with the American economy in its longest expansion period on record.</p><p>“There are a number of these curves that you need to look at in totality,” Duffy said. “We’ve always said look at many signals.”</p></body></html>","source":"lsy1603348471595","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>Stock-Market Investors Should Watch the \"Best Leading Indicator of Trouble Ahead\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock-Market Investors Should Watch the \"Best Leading Indicator of Trouble Ahead\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-26 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/why-this-part-of-the-treasury-yield-curve-may-be-the-best-leading-indicator-of-trouble-ahead-11648210025?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors have been watching the U.S. Treasury yield curve for inversions, a reliable predictor of past economic downturns.They don’t always agree on which part of the curve is best to watch though.“...</p>\n\n<a href=\"https://www.marketwatch.com/story/why-this-part-of-the-treasury-yield-curve-may-be-the-best-leading-indicator-of-trouble-ahead-11648210025?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/why-this-part-of-the-treasury-yield-curve-may-be-the-best-leading-indicator-of-trouble-ahead-11648210025?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196027616","content_text":"Investors have been watching the U.S. Treasury yield curve for inversions, a reliable predictor of past economic downturns.They don’t always agree on which part of the curve is best to watch though.“Yield curve inversion, and flatting, has been at the forefront for everyone,” said Pete Duffy, chief investment officer at Penn Capital Management Company, in Philadelphia, by phone.“That’s because the Fed is so active and rates suddenly have gone up so quickly.”An inversion of the yield curve happens when rates on longer bonds fall below those of shorter-term debt, a sign that investors think economic woes could lie ahead. Fears of an economic slowdown have been mounting as the Federal Reserve starts to tighten financial conditions while Russia’s Ukraine invasion threatens to keep key drivers of U.S. inflation high.Lately, the attention has been on the 10-year Treasury yield TMUBMUSD10Y, 2.478% and shorter 2-year yield, where the spread fell to 13 basis points on Tuesday, up from a high of about 130 basis points five months ago.Read: The yield curve is speeding toward inversion — here’s what investors need to knowBut that’s not the only plot on the Treasury yield curve investors closely watch. The Treasury Department sells securities that mature in a range from a few days to 30 years, providing a lot of plots on the curve to follow.“The focus has been on the 10s and 2s,” said Mark Heppenstall, chief investment officer at Penn Mutual Asset Management, in Horsham, Penn, a northern suburb of Philadelphia.“I will hold out until the 10s to 3-month bills inverts before I turn too negative on the economic outlook,” he said, calling it “the best leading indicator of trouble ahead.”Watch 10-year, 3-monthInstead of falling, that spread climbed in March, continuing its path higher since turning negative two years ago at the onset of the pandemic (see chart).The 3-month to 10-year yield spread is climbing Bloomberg data, Goelzer Investment Management“The 3-month Treasury bill really tracks the Federal Reserve’s target rate,” said Gavin Stephens, director of portfolio management at Goelzer Investment Management in Indiana, by phone.“So it gives you a more immediate picture of if the Federal Reserve has entered a restrictive state in terms of monetary policy and, thus, giving the possibility that economic growth is going to contract, which would be bad for stocks.”Stocks were lower Friday, but with the S&P 500 index SPX, +0.51% and the Nasdaq Composite Index COMP, -0.16% still up about 1.2% on the week. The three major indexes were 4.5% to 10.1% lower so far in 2022, according to FactSet.By watching the 10s and 2s TMUBMUSD02Y, 2.280% spread, “You are looking at the expectations of where Fed Reserve interest rate policy is going to be over a period of two years,” Stephens said. “So, effectively, it’s working with a lag.”On average, from the time the 10s and 2s curve inverts, until “there’s a recession, it’s almost two years,” he said, predicting that with unemployment recently pegged around 3.8% that, “this curve is going to invert when the economy is really strong.”The Federal Reserve Bank of San Francisco also called the 3-month TMUBMUSD03M, 0.535% and 10-year curve relationship its “preferred spread measure because it has the strongest predictive power for future recessions,” such as in 2019, back when the yield curve was more regularly flashing recession warning signs.“Did it see COVID coming?” Duffy said, of earlier yield curve inversions.A more likely catalyst was that investors already were on a recession watch, with the American economy in its longest expansion period on record.“There are a number of these curves that you need to look at in totality,” Duffy said. “We’ve always said look at many signals.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":30,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9034923325,"gmtCreate":1647762705901,"gmtModify":1676534264265,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9034923325","repostId":"2220430742","repostType":4,"isVote":1,"tweetType":1,"viewCount":38,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039193653,"gmtCreate":1645940090107,"gmtModify":1676534076688,"author":{"id":"3576117016717305","authorId":"3576117016717305","name":"Sushi__","avatar":"https://static.tigerbbs.com/a0cf978c30326a9a36749f913b33ab2e","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039193653","repostId":"1125580913","repostType":4,"repost":{"id":"1125580913","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":1645926503,"share":"https://www.laohu8.com/m/news/1125580913?lang=&edition=full","pubTime":"2022-02-27 09:48","market":"us","language":"en","title":"Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value","url":"https://stock-news.laohu8.com/highlight/detail?id=1125580913","media":"Tiger Newspress","summary":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-yea","content":"<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</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>Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value</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\">\nBuffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-02-27 09:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125580913","content_text":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”Read the full letter here：To the Shareholders of Berkshire Hathaway Inc.:Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.What You OwnBerkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.Surprise, SurpriseHere are a few items about your company that often surprise even seasoned investors:• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.Our Four GiantsThrough Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.InvestmentsNow let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.* This is our actual purchase price and also our tax basis.** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.U.S. Treasury BillsBerkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.But $144 billion?That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.Share RepurchasesThere are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.A Wonderful Man and a Wonderful BusinessLast year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.In all ways, Paul was a class act.* * * * * * * * * * * *Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.ThanksI taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction workingfor you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”The Annual MeetingClear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.February 26, 2022Warren E. Buffett Chairman of the Board","news_type":1},"isVote":1,"tweetType":1,"viewCount":14,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}