Juvie personal page - To The Moon

Juvie

Juvie

Stay the course!

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06-21

coffee cup let's geddit

2023-04-10

always love the events and opportunities

2023-04-04

love such initiatives

2022-12-02

Great ariticle, would you like to share it?

@TigerEvents:Join Tiger's Football Season, share the prizes worth up to US$200,000

2022-09-30

Great ariticle, would you like to share it?

@TigerEvents:[Game] Find TIGER cards & win Tiger Coins

2022-07-13

smoking gun

Cathie Wood Sees a 7X Explosion in ROKU By 2026, Targeting a $605 Price Point

2022-07-11

short term bearish

Semiconductor Stocks Remained Low in Morning Trading, With Nvidia Sliding Over 4% and AMD Sliding Over 3%

2022-06-16

great event!

@TigerEvents:Happy Birthday to TIGER!!! This year, we have prepared a time machine to go on an adventure with you. Come and find surprising gifts as we stroll down memory lane!There are so many wonderful little stories in our Tiger Quest. Collect as many coins as you can in the game, these will be your basic points of this game. Apart from one mini-game mission for SG/AU/NZ, the games will be open every week, and there are endless treasures waiting for you to discover. Points can be redeemed for multiple rewards, and you can win a share of up to USD 200,000 worth of prizes! Want to win extra points? Check out these mini-games, try them, stay with us and be PAWSITIVE!Remember to collect the cards and spell out "T.I.G.E.R" during your journey for a chance to receive the limited edition 8th Anniversary Gi

2022-06-16

indeed

3 Top Warren Buffett Stocks to Buy in a Bear Market

2022-06-14

ready

NIO: Time For Massive Growth

2022-06-03

still bullish

Why You Might Regret Not Buying Nvidia on the Dip

2022-05-30

the moment i buy is when it will drop

The Weight Of Evidence Is Building For A Significant Drop In Tesla

2022-05-25

long term hold

Palantir: Just Overhyped And Unprofitable?

2022-05-10

long term bullish?

Why Nvidia Stock Fell Over 9% Today

2022-05-04

ready for more

Dear TSLA Stock Fans, Mark Your Calendars for Aug. 4

2022-04-29

gains wiped out

Apple Stock Swings to a Loss After Executives Warn of Billions in Added Costs

2022-04-26

global bearish outlook will drag $Apple(AAPL)$down just like the rest of the blue chips

Apple Earnings Are Coming. Here’s What to Watch.

2022-04-13

awesome event!

@TigerEvents:🏆【GAME】Hunting Eggs for Extra Saving!

2022-04-07

interesting

Alibaba, SoftBank Score 2022’s First IPO Windfall With GoTo

2022-03-19

bullish

AMD: Time To Spend Some Money

Go to Tiger App to see more news

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Currently ROKU trades around $86 a share and is -63% YTD.</p><p>Moreover, looking at ARK Invest’s bull and bear cases, it sees ROKU reaching as high as $1,493 per share and as low as $100 per share, which would provide annualized returns of 88% and 3%, respectively.</p><p>Two of the largest ETF holders that have positions in ROKU both belong to Wood and her actively managed funds.</p><p>The <a href=\"https://laohu8.com/S/ARKW\">ARK Next Generation Internet ETF</a> (NYSEARCA:ARKW) lists ROKU as the ETF&#39;s second most significant position with an 8.6% weighting and market value of $120.58M.</p><p>Following ARKW is Wood’s flagship <a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a> (NYSEARCA:ARKK), which lists ROKU as the fund&#39;s third largest position with an attached weighting of 7.9%. Additionally, ARKK holds a $707.93M market value in ROKU.</p><p>In preparing ARK’s price target, the firm examined ROKU’s new account activity, trends in daily hours streamed on ROKU, ROKU’s gross and net platform monetization rate, along with information on its total addressable market.</p><p>See the complete note on how Wood and ARK Invest derived their call on ROKU.</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>Cathie Wood Sees a 7X Explosion in ROKU By 2026, Targeting a $605 Price Point</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 Sees a 7X Explosion in ROKU By 2026, Targeting a $605 Price Point\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-13 07:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3856099-cathie-wood-sees-a-7x-explosion-in-roku-by-2026-targeting-a-605-share-price-point><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cathie Wood, CEO of ARK Invest, made another aggressive call, this time stating that Roku  can reach $605 per share by 2026.Wood’s call comes just a few weeks after she made a similarly optimistic ...</p>\n\n<a href=\"https://seekingalpha.com/news/3856099-cathie-wood-sees-a-7x-explosion-in-roku-by-2026-targeting-a-605-share-price-point\">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","ARKK":"ARK Innovation ETF"},"source_url":"https://seekingalpha.com/news/3856099-cathie-wood-sees-a-7x-explosion-in-roku-by-2026-targeting-a-605-share-price-point","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2251979390","content_text":"Cathie Wood, CEO of ARK Invest, made another aggressive call, this time stating that Roku  can reach $605 per share by 2026.Wood’s call comes just a few weeks after she made a similarly optimistic projection that Zoom Video Communications (ZM) could reach $1,500 by 2026.According to ARK’s open-source research, the firm believes that ROKU can possibly jump 7X over the next five years at an annual rate of 53%. Currently ROKU trades around $86 a share and is -63% YTD.Moreover, looking at ARK Invest’s bull and bear cases, it sees ROKU reaching as high as $1,493 per share and as low as $100 per share, which would provide annualized returns of 88% and 3%, respectively.Two of the largest ETF holders that have positions in ROKU both belong to Wood and her actively managed funds.The ARK Next Generation Internet ETF (NYSEARCA:ARKW) lists ROKU as the ETF's second most significant position with an 8.6% weighting and market value of $120.58M.Following ARKW is Wood’s flagship ARK Innovation ETF (NYSEARCA:ARKK), which lists ROKU as the fund's third largest position with an attached weighting of 7.9%. Additionally, ARKK holds a $707.93M market value in ROKU.In preparing ARK’s price target, the firm examined ROKU’s new account activity, trends in daily hours streamed on ROKU, ROKU’s gross and net platform monetization rate, along with information on its total addressable market.See the complete note on how Wood and ARK Invest derived their call on ROKU.","news_type":1},"isVote":1,"tweetType":1,"viewCount":532,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9071597841,"gmtCreate":1657551352883,"gmtModify":1676536024001,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"short term bearish&nbsp;","listText":"short term bearish&nbsp;","text":"short term bearish","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9071597841","repostId":"1132740880","repostType":4,"repost":{"id":"1132740880","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":1657548754,"share":"https://ttm.financial/m/news/1132740880?lang=&edition=fundamental","pubTime":"2022-07-11 22:12","market":"us","language":"en","title":"Semiconductor Stocks Remained Low in Morning Trading, With Nvidia Sliding Over 4% and AMD Sliding Over 3%","url":"https://stock-news.laohu8.com/highlight/detail?id=1132740880","media":"Tiger Newspress","summary":"Semiconductor stocks remained low in morning trading, with Nvidia sliding over 4% and AMD sliding ov","content":"<html><head></head><body><p>Semiconductor stocks remained low in morning trading, with Nvidia sliding over 4% and AMD sliding over 3%.<img src=\"https://static.tigerbbs.com/1a5f68178193cf9b0c500bf6eec1878f\" tg-width=\"270\" tg-height=\"270\" width=\"100%\" height=\"auto\"/></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>Semiconductor Stocks Remained Low in Morning Trading, With Nvidia Sliding Over 4% and AMD Sliding Over 3%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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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\">\nSemiconductor Stocks Remained Low in Morning Trading, With Nvidia Sliding Over 4% and AMD Sliding Over 3%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-07-11 22:12</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Semiconductor stocks remained low in morning trading, with Nvidia sliding over 4% and AMD sliding over 3%.<img src=\"https://static.tigerbbs.com/1a5f68178193cf9b0c500bf6eec1878f\" tg-width=\"270\" tg-height=\"270\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达","AMD":"美国超微公司"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132740880","content_text":"Semiconductor stocks remained low in morning trading, with Nvidia sliding over 4% and AMD sliding over 3%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":409,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9054189144,"gmtCreate":1655352823388,"gmtModify":1676535621287,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"great event!","listText":"great event!","text":"great event!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9054189144","repostId":"9022524674","repostType":1,"repost":{"id":9022524674,"gmtCreate":1653552819200,"gmtModify":1676535303082,"author":{"id":"3527667667103859","authorId":"3527667667103859","authorIdStr":"3527667667103859","name":"TigerEvents","avatar":"https://community-static.tradeup.com/news/c266ef25181ace18bec1262357bbe1a8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667667103859"},"themes":[],"title":"Time Travel with Tiger, Join the Memorabilia Adventure Now!!!","htmlText":"\n \n \n  Happy Birthday to TIGER!!! This year, we have prepared a time machine to go on an adventure with you. Come and find surprising gifts as we stroll down memory lane!There are so many wonderful little stories in our Tiger Quest. Collect as many coins as you can in the game, these will be your basic points of this game. Apart from one mini-game mission for SG/AU/NZ, the games will be open every week, and there are endless treasures waiting for you to discover. Points can be redeemed for multiple rewards, and you can win a share of up to USD 200,000 worth of prizes! Want to win extra points? Check out these mini-games, try them, stay with us and be PAWSITIVE!Remember to collect the cards and spell out \"T.I.G.E.R\" during your journey for a chance to receive the limited edition 8th Anniversary Gi\n \n","listText":"Happy Birthday to TIGER!!! This year, we have prepared a time machine to go on an adventure with you. Come and find surprising gifts as we stroll down memory lane!There are so many wonderful little stories in our Tiger Quest. Collect as many coins as you can in the game, these will be your basic points of this game. Apart from one mini-game mission for SG/AU/NZ, the games will be open every week, and there are endless treasures waiting for you to discover. Points can be redeemed for multiple rewards, and you can win a share of up to USD 200,000 worth of prizes! Want to win extra points? Check out these mini-games, try them, stay with us and be PAWSITIVE!Remember to collect the cards and spell out \"T.I.G.E.R\" during your journey for a chance to receive the limited edition 8th Anniversary Gi","text":"Happy Birthday to TIGER!!! This year, we have prepared a time machine to go on an adventure with you. Come and find surprising gifts as we stroll down memory lane!There are so many wonderful little stories in our Tiger Quest. Collect as many coins as you can in the game, these will be your basic points of this game. Apart from one mini-game mission for SG/AU/NZ, the games will be open every week, and there are endless treasures waiting for you to discover. Points can be redeemed for multiple rewards, and you can win a share of up to USD 200,000 worth of prizes! Want to win extra points? Check out these mini-games, try them, stay with us and be PAWSITIVE!Remember to collect the cards and spell out \"T.I.G.E.R\" during your journey for a chance to receive the limited edition 8th Anniversary Gi","images":[],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022524674","isVote":1,"tweetType":2,"object":{"id":"97af7069aa6440eab7c85601f72b41b1","tweetId":"9022524674","videoUrl":"https://1254107296.vod2.myqcloud.com/73ba5544vodgzp1254107296/5836ee3f387702302012189230/1IRQdazMc4YA.mp4","poster":"https://community-static.tradeup.com/news/f2462b20b2a9a2483ae56cbb54dcb2a7"},"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":278,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9055763715,"gmtCreate":1655311447437,"gmtModify":1676535610844,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"indeed","listText":"indeed","text":"indeed","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9055763715","repostId":"2243654989","repostType":4,"repost":{"id":"2243654989","pubTimestamp":1655305092,"share":"https://ttm.financial/m/news/2243654989?lang=&edition=fundamental","pubTime":"2022-06-15 22:58","market":"us","language":"en","title":"3 Top Warren Buffett Stocks to Buy in a Bear Market","url":"https://stock-news.laohu8.com/highlight/detail?id=2243654989","media":"Motley Fool","summary":"These stocks pass the approval of the guru in Omaha.","content":"<html><head></head><body><p><b>Berkshire Hathaway</b> has served as Warren Buffett&#39;s investment vehicle for over 50 years, and the legendary investor was busy buying shares of several stocks in the first quarter.</p><p>Out of the dozens of stocks Berkshire reported holding in Q1, three Motley Fool contributors selected <b>Apple</b>, <b>Coca-Cola</b>, and <b>Amazon</b> as great companies worth buying in this bear market. All three possess strong brands that can power through a rough economy and deliver great returns for decades.</p><h2>Iconic brands will survive hard times</h2><p><b>John Ballard (Apple):</b> If you&#39;re going to piggyback the greatest investor of all time, why not start with his biggest bet. At the end of the first quarter, Berkshire held 890 million shares of Apple worth $155 billion on March 31. It&#39;s <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the biggest investments Buffett has ever made.</p><p>Years ago, investing in a company that makes pricey electronics might not have been the best move in a weak economy when people are cutting back on unnecessary expenditures. But Apple has become so entrenched in people&#39;s daily routine that it can be considered a relatively safe stock to hold through a bear market. That doesn&#39;t mean the stock won&#39;t fall further. The shares have already fallen 25% from their recent high, but successful investing only requires that you buy great businesses when they are available at fair prices and hold them for many years. That&#39;s Buffett&#39;s basic approach in a nutshell.</p><p>It&#39;s hard not to see the value underpinning Apple. The stock trades at a reasonable value of 21.5 times earnings per share. Apple is not expensive, given that the average business has traded around 16 times earnings over the last century. Berkshire Hathaway even added slightly to its Apple stake in the last quarter, so Buffett, or one of his investing deputies, clearly views the stock as a good value right now.</p><p>Apple has hit it out of the park with its line of Macs and iPads featuring the company&#39;s new proprietary M1 processors. In fact, in a quarter when total PC shipments slowed, Apple was one of the handful of manufacturers that gained market share in worldwide PC shipments in Q1 at the expense of the leaders <b>Lenovo </b>and <b>HP</b>.</p><p><img src=\"https://static.tigerbbs.com/26239bb0dd13a6eae5980ee1277b6112\" tg-width=\"720\" tg-height=\"410\" referrerpolicy=\"no-referrer\"/></p><p>AAPL Cash from Operations (TTM) data by YCharts.</p><p>Apple generates a mountain of cash from operations, which funds reinvestments in new products and technologies, and most importantly, growing dividends and share buybacks. Over the last five years, Apple has spent nearly $500 billion on capital returns to shareholders. Apple&#39;s tremendous stream of profits from selling products people love to use every day is a good reason to buy the stock in a bear market.</p><h2>Coca-Cola has become a staple in people&#39;s homes for decades</h2><p><b>Parkev Tatevosian (Coca-Cola):</b> For several decades, Coca-Cola stock has been a mainstay in Warren Buffett&#39;s Berkshire Hathaway portfolio. The iconic beverage brand has done an excellent job of sustaining its dominance at the top of the non-alcoholic drinks market. Millions, if not billions of people worldwide, have consumed one of Coca-Cola&#39;s portfolio of drinks daily.</p><p><img src=\"https://static.tigerbbs.com/695badf56ebd77c3c071ac7c8ccbf33d\" tg-width=\"720\" tg-height=\"451\" referrerpolicy=\"no-referrer\"/></p><p>KO Revenue (Annual) data by YCharts.</p><p>That has catapulted Coca-Cola to earning revenue of $38.6 billion in 2021. That was up 17% from the $33 billion it earned in 2020. Coca-Cola has established many exclusive relationships with away-from-home channels like restaurants, theme parks, and movie theaters. As a result, it suffered a revenue decrease due to the pandemic. The reverse is now playing out. Coca-Cola benefits as the world progresses against COVID-19, making people more comfortable leaving their homes.</p><p>Meanwhile, Coca-Cola has worked on removing waste in its operations, which has boosted its operating profit margin from 22.4% in 2012 to 28.6% in 2021. That margin improvement is likely to play a crucial role in shareholder sentiment as rising inflation puts profit margins at risk in all types of businesses.</p><p><img src=\"https://static.tigerbbs.com/f0d309395bd12dc593f8e9ff50c97180\" tg-width=\"720\" tg-height=\"451\" referrerpolicy=\"no-referrer\"/></p><p>KO Operating Margin (Annual) data by YCharts.</p><p>Moreover, during a bear market, investors place greater importance on companies with sustainable profits. Given that consumers have, for decades, developed a habit of drinking one of Coca-Cola&#39;s beverages, it is unlikely they will break the pattern if they lose their job or have their incomes reduced. For those reasons, Coca-Cola is one of my top Warren Buffett stocks to buy during a bear market.</p><h2>When the market is down, stick with the best</h2><p><b>Jennifer Saibil (Amazon):</b> Amazon stock has drawn a lot of attention recently because of its stock split. But this top stock is an excellent choice because of its well-run business and robust opportunities. When the market takes a turn for the worse, focusing on strong stocks that can survive is key to maintaining a solid portfolio.</p><p>Stock split aside, Amazon has demonstrated its worth as a company in challenging times. It&#39;s the largest e-commerce company in the world, accounting for as much as 50% of all online sales. Although sales growth is slowing down, the company is still moving in the right direction, increasing sales 7% year over year in Q1.</p><p>The company is definitely under some pressure right now. Between rising costs and wages, inflation, and huge investments to build up its capabilities to meet increasing demand at the beginning of the pandemic, Amazon posted a net loss in Q1. It would have posted an operating loss as well if not for the continued phenomenal performance of Amazon Web Services (AWS), which posted a 37% year-over-year increase in revenue and a 55% increase in operating income to $6.5 billion.</p><p>But it&#39;s well positioned, and perhaps the best positioned of almost any company, to thrive when the chips are down. Despite a slight decline in Q1, its e-commerce unit is still posting massive sales. As of the last update, in April 2021, there were 200 million Prime users, but management said there were millions of new members added since then. They depend on it for their everyday essentials, and CFO Brian Olsavsky said Prime members are a &#34;key driver of growth.&#34; Renewal rates are high as well. In its favor, Amazon highly relies on its third-party sales, which means it doesn&#39;t have the same inventory problem <b>Target</b> and <b>Walmart</b> are dealing with.</p><p>During a bear market, keeping your funds in time-tested, solid stocks can protect your portfolio, and Amazon fits the bill.</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 Top Warren Buffett Stocks to Buy in a Bear Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Top Warren Buffett Stocks to Buy in a Bear Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-15 22:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/06/14/3-top-warren-buffett-stocks-to-buy-in-bear-market/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Berkshire Hathaway has served as Warren Buffett's investment vehicle for over 50 years, and the legendary investor was busy buying shares of several stocks in the first quarter.Out of the dozens of ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/06/14/3-top-warren-buffett-stocks-to-buy-in-bear-market/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"KO":"可口可乐","AMZN":"亚马逊","AAPL":"苹果"},"source_url":"https://www.fool.com/investing/2022/06/14/3-top-warren-buffett-stocks-to-buy-in-bear-market/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2243654989","content_text":"Berkshire Hathaway has served as Warren Buffett's investment vehicle for over 50 years, and the legendary investor was busy buying shares of several stocks in the first quarter.Out of the dozens of stocks Berkshire reported holding in Q1, three Motley Fool contributors selected Apple, Coca-Cola, and Amazon as great companies worth buying in this bear market. All three possess strong brands that can power through a rough economy and deliver great returns for decades.Iconic brands will survive hard timesJohn Ballard (Apple): If you're going to piggyback the greatest investor of all time, why not start with his biggest bet. At the end of the first quarter, Berkshire held 890 million shares of Apple worth $155 billion on March 31. It's one of the biggest investments Buffett has ever made.Years ago, investing in a company that makes pricey electronics might not have been the best move in a weak economy when people are cutting back on unnecessary expenditures. But Apple has become so entrenched in people's daily routine that it can be considered a relatively safe stock to hold through a bear market. That doesn't mean the stock won't fall further. The shares have already fallen 25% from their recent high, but successful investing only requires that you buy great businesses when they are available at fair prices and hold them for many years. That's Buffett's basic approach in a nutshell.It's hard not to see the value underpinning Apple. The stock trades at a reasonable value of 21.5 times earnings per share. Apple is not expensive, given that the average business has traded around 16 times earnings over the last century. Berkshire Hathaway even added slightly to its Apple stake in the last quarter, so Buffett, or one of his investing deputies, clearly views the stock as a good value right now.Apple has hit it out of the park with its line of Macs and iPads featuring the company's new proprietary M1 processors. In fact, in a quarter when total PC shipments slowed, Apple was one of the handful of manufacturers that gained market share in worldwide PC shipments in Q1 at the expense of the leaders Lenovo and HP.AAPL Cash from Operations (TTM) data by YCharts.Apple generates a mountain of cash from operations, which funds reinvestments in new products and technologies, and most importantly, growing dividends and share buybacks. Over the last five years, Apple has spent nearly $500 billion on capital returns to shareholders. Apple's tremendous stream of profits from selling products people love to use every day is a good reason to buy the stock in a bear market.Coca-Cola has become a staple in people's homes for decadesParkev Tatevosian (Coca-Cola): For several decades, Coca-Cola stock has been a mainstay in Warren Buffett's Berkshire Hathaway portfolio. The iconic beverage brand has done an excellent job of sustaining its dominance at the top of the non-alcoholic drinks market. Millions, if not billions of people worldwide, have consumed one of Coca-Cola's portfolio of drinks daily.KO Revenue (Annual) data by YCharts.That has catapulted Coca-Cola to earning revenue of $38.6 billion in 2021. That was up 17% from the $33 billion it earned in 2020. Coca-Cola has established many exclusive relationships with away-from-home channels like restaurants, theme parks, and movie theaters. As a result, it suffered a revenue decrease due to the pandemic. The reverse is now playing out. Coca-Cola benefits as the world progresses against COVID-19, making people more comfortable leaving their homes.Meanwhile, Coca-Cola has worked on removing waste in its operations, which has boosted its operating profit margin from 22.4% in 2012 to 28.6% in 2021. That margin improvement is likely to play a crucial role in shareholder sentiment as rising inflation puts profit margins at risk in all types of businesses.KO Operating Margin (Annual) data by YCharts.Moreover, during a bear market, investors place greater importance on companies with sustainable profits. Given that consumers have, for decades, developed a habit of drinking one of Coca-Cola's beverages, it is unlikely they will break the pattern if they lose their job or have their incomes reduced. For those reasons, Coca-Cola is one of my top Warren Buffett stocks to buy during a bear market.When the market is down, stick with the bestJennifer Saibil (Amazon): Amazon stock has drawn a lot of attention recently because of its stock split. But this top stock is an excellent choice because of its well-run business and robust opportunities. When the market takes a turn for the worse, focusing on strong stocks that can survive is key to maintaining a solid portfolio.Stock split aside, Amazon has demonstrated its worth as a company in challenging times. It's the largest e-commerce company in the world, accounting for as much as 50% of all online sales. Although sales growth is slowing down, the company is still moving in the right direction, increasing sales 7% year over year in Q1.The company is definitely under some pressure right now. Between rising costs and wages, inflation, and huge investments to build up its capabilities to meet increasing demand at the beginning of the pandemic, Amazon posted a net loss in Q1. It would have posted an operating loss as well if not for the continued phenomenal performance of Amazon Web Services (AWS), which posted a 37% year-over-year increase in revenue and a 55% increase in operating income to $6.5 billion.But it's well positioned, and perhaps the best positioned of almost any company, to thrive when the chips are down. Despite a slight decline in Q1, its e-commerce unit is still posting massive sales. As of the last update, in April 2021, there were 200 million Prime users, but management said there were millions of new members added since then. They depend on it for their everyday essentials, and CFO Brian Olsavsky said Prime members are a \"key driver of growth.\" Renewal rates are high as well. In its favor, Amazon highly relies on its third-party sales, which means it doesn't have the same inventory problem Target and Walmart are dealing with.During a bear market, keeping your funds in time-tested, solid stocks can protect your portfolio, and Amazon fits the bill.","news_type":1},"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9052188897,"gmtCreate":1655139810919,"gmtModify":1676535568682,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"ready","listText":"ready","text":"ready","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052188897","repostId":"1138793205","repostType":4,"repost":{"id":"1138793205","pubTimestamp":1655134386,"share":"https://ttm.financial/m/news/1138793205?lang=&edition=fundamental","pubTime":"2022-06-13 23:33","market":"us","language":"en","title":"NIO: Time For Massive Growth","url":"https://stock-news.laohu8.com/highlight/detail?id=1138793205","media":"Seeking Alpha","summary":"SummaryResults pressured by China covid lockdowns.Production set to soar in coming quarters.Street sees stock doubling from current level.Late last week, one of the weaker names in the market was Chin","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Results pressured by China covid lockdowns.</li><li>Production set to soar in coming quarters.</li><li>Street sees stock doubling from current level.</li></ul><p>Late last week, one of the weaker names in the market was Chinese electric vehicle maker NIO (NYSE:NIO), after the company reported itsfirst quarter results. Investors focused on weaker than expected guidance for Q2, but it was already known that the situation in China was going to pressure results for the period. The most important part of last week&#39;s earnings report was management&#39;s commentary on upcoming production plans, which showed that massive growth is finally about to come.</p><p>For Q1, revenues came in at $1.56 billion, which was up more than 24% year over year, and came in a little ahead of estimates. One of my main issues with NIO is that it usually reports results so late in the quarter that these numbers seem basically irrelevant, since we&#39;re almost done with Q2 already. On the bottom line, non-GAAP earnings per ADS beat by three cents, but this is still a company that&#39;s losing plenty of money at this time.</p><p>The main reason for shares dropping after Thursday&#39;s report was the following headline - management guided to between $1.47 billion and $1.59 billion in revenues for the second quarter. Wall Street had anticipated second quarter revenue to reach $1.79 billion. Deliveries are expected to be in a range of 23,000 to 25,000, with even the high end of that being a sequential decline from Q1&#39;s 25,768 units. As a reminder, Q2 is the first full quarter for deliveries of the ET7 sedan, which saw just 163 deliveries late in Q1.</p><p>I&#39;m pretty much discounting this guidance miss, just because the analyst average seemed so ridiculous going into last week&#39;s report. NIO had already reported its April and May delivery numbers, which were heavily pressured by China&#39;s covid lockdowns. Even though we knew June would be better, supply chain issues are still a problem, so to think revenues were going to jump over $200 million sequentially seemed highly questionable. Management is basically guiding for a monthly record in terms of June vehicle deliveries, and yet it is still likely to fall a bit short of Q1&#39;s quarterly total. I think analysts were just waiting to see what was reported and then adjust, but the result was a headline of very weak guidance.</p><p>NIO investors have been waiting for several quarters now to see production really ramp up. It has been over a year now since the company announceda new production agreementwith its partner JAC to double factory output to 240,000 units a year. Still, though, the company hasn&#39;t been able to report even 26,000 deliveries in a single quarter. The company is also in the process of building out its own facility called NeoPark. Duringthe conference call, management provided this key update regarding production, with &#34;F2&#34; referring to NeoPark:</p><blockquote>For the production capacity of our first plant with JAC-NIO, as we have mentioned, we will continue to ramp up its production capacity in Q3. I think probably at least in the second half of the year, our overall plant capacity should reach 20,000 units per month. It can be -- it&#39;s not probably too hard for us to see when.</blockquote><blockquote>And then for the F2&#39;s ramp-up pace, actually, first, we will kick off the delivery of ET5 from this plant in Q3. So it will start production in Q3 and that we try to reach 10,000 units within quite a short period, probably three, four months. I think that&#39;s our plan.</blockquote><blockquote>Of course, next year, as we introduce more models into this factory, the overall production volume of F2 will continue to rise.</blockquote><p>It remains to be seen how quickly NIO will actually reach these rates. As I&#39;vedetailed in the past, the company&#39;s growth timelines haven&#39;t worked out as some may have hoped. All it takes is some more supply chain issues or another round of covid lockdowns, and these production rates won&#39;t be seen until sometime in 2023. This kind of tremendous growth in units is expected to drive a major surge in NIO revenues, with analyst estimates shown below.</p><p><img src=\"https://static.tigerbbs.com/4e17e14941758d428fd4219d8740bb4d\" tg-width=\"640\" tg-height=\"264\" referrerpolicy=\"no-referrer\"/></p><p>NIO Revenue Estimates(Seeking Alpha)</p><p>This significant expected revenue growth in the next 12-18 months is a main reason why theaverage price targeton the street is double what NIO shares closed at on Friday. The valuation seems quite reasonable currently, with the stock going for 1.9 times expected 2023 sales, as opposed to fellow Chinese EV names like XPeng (XPEV) going for 2.1 times and Li Auto (LI) at 2.2 times. Of course, EV giant Tesla (TSLA) trades for over 6.2 times projected sales for next year, as investors are certainly willing to pay a lot more for that name.</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>NIO: Time For Massive Growth</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\">\nNIO: Time For Massive Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-13 23:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4518041-nio-stock-time-for-massive-growth><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryResults pressured by China covid lockdowns.Production set to soar in coming quarters.Street sees stock doubling from current level.Late last week, one of the weaker names in the market was ...</p>\n\n<a href=\"https://seekingalpha.com/article/4518041-nio-stock-time-for-massive-growth\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09866":"蔚来-SW","NIO":"蔚来","NIO.SI":"蔚来"},"source_url":"https://seekingalpha.com/article/4518041-nio-stock-time-for-massive-growth","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138793205","content_text":"SummaryResults pressured by China covid lockdowns.Production set to soar in coming quarters.Street sees stock doubling from current level.Late last week, one of the weaker names in the market was Chinese electric vehicle maker NIO (NYSE:NIO), after the company reported itsfirst quarter results. Investors focused on weaker than expected guidance for Q2, but it was already known that the situation in China was going to pressure results for the period. The most important part of last week's earnings report was management's commentary on upcoming production plans, which showed that massive growth is finally about to come.For Q1, revenues came in at $1.56 billion, which was up more than 24% year over year, and came in a little ahead of estimates. One of my main issues with NIO is that it usually reports results so late in the quarter that these numbers seem basically irrelevant, since we're almost done with Q2 already. On the bottom line, non-GAAP earnings per ADS beat by three cents, but this is still a company that's losing plenty of money at this time.The main reason for shares dropping after Thursday's report was the following headline - management guided to between $1.47 billion and $1.59 billion in revenues for the second quarter. Wall Street had anticipated second quarter revenue to reach $1.79 billion. Deliveries are expected to be in a range of 23,000 to 25,000, with even the high end of that being a sequential decline from Q1's 25,768 units. As a reminder, Q2 is the first full quarter for deliveries of the ET7 sedan, which saw just 163 deliveries late in Q1.I'm pretty much discounting this guidance miss, just because the analyst average seemed so ridiculous going into last week's report. NIO had already reported its April and May delivery numbers, which were heavily pressured by China's covid lockdowns. Even though we knew June would be better, supply chain issues are still a problem, so to think revenues were going to jump over $200 million sequentially seemed highly questionable. Management is basically guiding for a monthly record in terms of June vehicle deliveries, and yet it is still likely to fall a bit short of Q1's quarterly total. I think analysts were just waiting to see what was reported and then adjust, but the result was a headline of very weak guidance.NIO investors have been waiting for several quarters now to see production really ramp up. It has been over a year now since the company announceda new production agreementwith its partner JAC to double factory output to 240,000 units a year. Still, though, the company hasn't been able to report even 26,000 deliveries in a single quarter. The company is also in the process of building out its own facility called NeoPark. Duringthe conference call, management provided this key update regarding production, with \"F2\" referring to NeoPark:For the production capacity of our first plant with JAC-NIO, as we have mentioned, we will continue to ramp up its production capacity in Q3. I think probably at least in the second half of the year, our overall plant capacity should reach 20,000 units per month. It can be -- it's not probably too hard for us to see when.And then for the F2's ramp-up pace, actually, first, we will kick off the delivery of ET5 from this plant in Q3. So it will start production in Q3 and that we try to reach 10,000 units within quite a short period, probably three, four months. I think that's our plan.Of course, next year, as we introduce more models into this factory, the overall production volume of F2 will continue to rise.It remains to be seen how quickly NIO will actually reach these rates. As I'vedetailed in the past, the company's growth timelines haven't worked out as some may have hoped. All it takes is some more supply chain issues or another round of covid lockdowns, and these production rates won't be seen until sometime in 2023. This kind of tremendous growth in units is expected to drive a major surge in NIO revenues, with analyst estimates shown below.NIO Revenue Estimates(Seeking Alpha)This significant expected revenue growth in the next 12-18 months is a main reason why theaverage price targeton the street is double what NIO shares closed at on Friday. The valuation seems quite reasonable currently, with the stock going for 1.9 times expected 2023 sales, as opposed to fellow Chinese EV names like XPeng (XPEV) going for 2.1 times and Li Auto (LI) at 2.2 times. Of course, EV giant Tesla (TSLA) trades for over 6.2 times projected sales for next year, as investors are certainly willing to pay a lot more for that name.","news_type":1},"isVote":1,"tweetType":1,"viewCount":509,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9050646576,"gmtCreate":1654191927795,"gmtModify":1676535409618,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"still bullish","listText":"still bullish","text":"still bullish","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050646576","repostId":"2240123694","repostType":4,"repost":{"id":"2240123694","pubTimestamp":1654179738,"share":"https://ttm.financial/m/news/2240123694?lang=&edition=fundamental","pubTime":"2022-06-02 22:22","market":"us","language":"en","title":"Why You Might Regret Not Buying Nvidia on the Dip","url":"https://stock-news.laohu8.com/highlight/detail?id=2240123694","media":"Motley Fool","summary":"Nvidia stock has tumbled 45% from its all-time high, but that's an opportunity for long-term investors.","content":"<html><head></head><body><p>The semiconductor industry has become <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most important in the world because advanced computer chips are now standard in a growing list of digitized consumer products. They power everything from computers to smartphones to electric vehicles, and some estimates suggest the sector could be valued at over $1 trillion annually within the next decade.</p><p>At the very heart of the industry is <b>Nvidia </b>(NVDA -1.88%), a company that is constantly pushing the boundaries of innovation. While it&#39;s known for its graphics hardware expertise, Nvidia is often credited for pioneering artificial intelligence. Over time, it has transformed into a computing platform company, which could drive its next phase of growth.</p><p>Nvidia just released its earnings report for the first quarter of fiscal 2023 (Nvidia&#39;s fiscal year ends Jan. 30) and revealed another round of blockbuster results. Here&#39;s why the stock is a buy right now, despite being down nearly 40% since the start of 2022.</p><p><img src=\"https://static.tigerbbs.com/891d2f05367aeaa85a76fa4fbc6641b8\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Image source: Getty Images.</p><h2>Strength in diversity</h2><p>Nvidia breaks its business operations into four segments. Gaming and data centers are the largest business units, together representing 88% of the company&#39;s $8.2 billion in total Q1 revenue. These groups have carried the company to the $470 billion market valuation it has today, but two of Nvidia&#39;s smaller focus areas could take the baton and drive growth to new heights over the long run.</p><p>The first of these two is professional visualization, which grew 67% in the recent quarter and hosts Nvidia&#39;s Omniverse platform. The platform allows creators to build virtual 3D environments for a range of purposes like games, the metaverse, and industrial applications. The metaverse is exciting because virtual worlds could change the way we interact socially and professionally as the technology develops, but Omniverse&#39;s industrial use is arguably its most intriguing aspect.</p><p>What does that industrial use look like? Companies like <b>Amazon</b> (AMZN 1.23%) use the Omniverse platform to build digital twins of its warehouses, allowing the e-commerce company to reconfigure its factory floor and train its worker-robots digitally and with accuracy down to the millimeter. It means Amazon can perfectly model changes before committing to altering the physical environment, saving both time and money. Omniverse also has unprecedented potential for infrastructure planning and even mapping roads for self-driving technology.</p><p>The second of Nvidia&#39;s smaller business units with massive growth potential is its automotive and robotics segment. This group is home to DRIVE, an end-to-end solution for autonomous vehicles. With the help of Omniverse, Nvidia has developed leading self-driving technology that has been adopted by global automakers like Mercedes Benz, which will roll it out in its 2024 model vehicles. Mercedes is one of 35 different manufacturers that have chosen Nvidia, contributing to a pipeline of future revenue that topped $11 billion in fiscal Q1 2023. There&#39;s incredible opportunity here: the self-driving vehicle industry could be worth $2.1 trillion by 2030, making it one of Nvidia&#39;s most promising opportunities for future growth.</p><h2>Another strong quarter</h2><p>Unlike many other technology companies, Nvidia has managed to deliver profits for investors on a consistent basis even through challenging times like the pandemic and the current inflationary period. In the most recent quarter, the company&#39;s non-GAAP earnings per share jumped 49% to $1.36. The non-GAAP result discounts one-time costs like the $1.35 billion charge Nvidia incurred when it couldn&#39;t close its acquisition of <b>SoftBank</b>&#39;s (SFTB.Y -2.37%) Arm Holdings due to regulatory difficulties, so it&#39;s a more accurate measure of how profitable the underlying business is.</p><p>Nvidia is also returning a significant amount of money to shareholders. In the recent quarter it allocated $2.1 billion to dividends and share buybacks, which are designed to reduce the number of shares in circulation and in turn organically inflate Nvidia&#39;s stock price. The company has authorized a total of $15 billion worth of buybacks in calendar year 2023.</p><p>But all of this is driven by Nvidia&#39;s continued rise in quarterly revenue, which is maintaining powerful growth rates even as the numbers balloon.</p><p><img src=\"https://static.tigerbbs.com/2cc6621fa73129a3769d18a6161772ee\" tg-width=\"700\" tg-height=\"420\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><h2>Why Nvidia is a buy right now</h2><p>Nvidia stock has declined by 45% from its all-time high amid the broader sell-off in the technology sector, and also because of the company&#39;s failure to close the $40 billion acquisition of Arm, a leading designer of computer processors. The deal was set to be the largest in semiconductor-sector history and would have given Nvidia sole control over advanced chip architectures suited to new-age technologies like artificial intelligence, which is why the company&#39;s competitors as well as regulators were opposed to the blockbuster merger.</p><p>Still, Nvidia faces a plethora of multi-trillion dollar opportunities going forward. The semiconductor sector alone is set for a $1 trillion annual value before 2030, and autonomous driving technology has potential opportunities worth $2.1 trillion. But the metaverse could dwarf both of those, with some estimates suggesting the new industry could be worth up to $30 trillion in the next 10 years.</p><p>For investors with a long-term focus, the current dip in Nvidia stock could pave the way for strong gains in the future.</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>Why You Might Regret Not Buying Nvidia 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\">\nWhy You Might Regret Not Buying Nvidia on the Dip\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-02 22:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/06/02/why-you-might-regret-not-buying-nvidia-on-the-dip/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The semiconductor industry has become one of the most important in the world because advanced computer chips are now standard in a growing list of digitized consumer products. They power everything ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/06/02/why-you-might-regret-not-buying-nvidia-on-the-dip/\">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","BK4554":"元宇宙及AR概念","BK4503":"景林资产持仓","BK4532":"文艺复兴科技持仓","BK4548":"巴美列捷福持仓","BK4551":"寇图资本持仓","BK4141":"半导体产品","BK4581":"高盛持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4543":"AI","BK4567":"ESG概念","NVDA":"英伟达","BK4534":"瑞士信贷持仓","BK4529":"IDC概念","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓"},"source_url":"https://www.fool.com/investing/2022/06/02/why-you-might-regret-not-buying-nvidia-on-the-dip/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2240123694","content_text":"The semiconductor industry has become one of the most important in the world because advanced computer chips are now standard in a growing list of digitized consumer products. They power everything from computers to smartphones to electric vehicles, and some estimates suggest the sector could be valued at over $1 trillion annually within the next decade.At the very heart of the industry is Nvidia (NVDA -1.88%), a company that is constantly pushing the boundaries of innovation. While it's known for its graphics hardware expertise, Nvidia is often credited for pioneering artificial intelligence. Over time, it has transformed into a computing platform company, which could drive its next phase of growth.Nvidia just released its earnings report for the first quarter of fiscal 2023 (Nvidia's fiscal year ends Jan. 30) and revealed another round of blockbuster results. Here's why the stock is a buy right now, despite being down nearly 40% since the start of 2022.Image source: Getty Images.Strength in diversityNvidia breaks its business operations into four segments. Gaming and data centers are the largest business units, together representing 88% of the company's $8.2 billion in total Q1 revenue. These groups have carried the company to the $470 billion market valuation it has today, but two of Nvidia's smaller focus areas could take the baton and drive growth to new heights over the long run.The first of these two is professional visualization, which grew 67% in the recent quarter and hosts Nvidia's Omniverse platform. The platform allows creators to build virtual 3D environments for a range of purposes like games, the metaverse, and industrial applications. The metaverse is exciting because virtual worlds could change the way we interact socially and professionally as the technology develops, but Omniverse's industrial use is arguably its most intriguing aspect.What does that industrial use look like? Companies like Amazon (AMZN 1.23%) use the Omniverse platform to build digital twins of its warehouses, allowing the e-commerce company to reconfigure its factory floor and train its worker-robots digitally and with accuracy down to the millimeter. It means Amazon can perfectly model changes before committing to altering the physical environment, saving both time and money. Omniverse also has unprecedented potential for infrastructure planning and even mapping roads for self-driving technology.The second of Nvidia's smaller business units with massive growth potential is its automotive and robotics segment. This group is home to DRIVE, an end-to-end solution for autonomous vehicles. With the help of Omniverse, Nvidia has developed leading self-driving technology that has been adopted by global automakers like Mercedes Benz, which will roll it out in its 2024 model vehicles. Mercedes is one of 35 different manufacturers that have chosen Nvidia, contributing to a pipeline of future revenue that topped $11 billion in fiscal Q1 2023. There's incredible opportunity here: the self-driving vehicle industry could be worth $2.1 trillion by 2030, making it one of Nvidia's most promising opportunities for future growth.Another strong quarterUnlike many other technology companies, Nvidia has managed to deliver profits for investors on a consistent basis even through challenging times like the pandemic and the current inflationary period. In the most recent quarter, the company's non-GAAP earnings per share jumped 49% to $1.36. The non-GAAP result discounts one-time costs like the $1.35 billion charge Nvidia incurred when it couldn't close its acquisition of SoftBank's (SFTB.Y -2.37%) Arm Holdings due to regulatory difficulties, so it's a more accurate measure of how profitable the underlying business is.Nvidia is also returning a significant amount of money to shareholders. In the recent quarter it allocated $2.1 billion to dividends and share buybacks, which are designed to reduce the number of shares in circulation and in turn organically inflate Nvidia's stock price. The company has authorized a total of $15 billion worth of buybacks in calendar year 2023.But all of this is driven by Nvidia's continued rise in quarterly revenue, which is maintaining powerful growth rates even as the numbers balloon.Why Nvidia is a buy right nowNvidia stock has declined by 45% from its all-time high amid the broader sell-off in the technology sector, and also because of the company's failure to close the $40 billion acquisition of Arm, a leading designer of computer processors. The deal was set to be the largest in semiconductor-sector history and would have given Nvidia sole control over advanced chip architectures suited to new-age technologies like artificial intelligence, which is why the company's competitors as well as regulators were opposed to the blockbuster merger.Still, Nvidia faces a plethora of multi-trillion dollar opportunities going forward. The semiconductor sector alone is set for a $1 trillion annual value before 2030, and autonomous driving technology has potential opportunities worth $2.1 trillion. But the metaverse could dwarf both of those, with some estimates suggesting the new industry could be worth up to $30 trillion in the next 10 years.For investors with a long-term focus, the current dip in Nvidia stock could pave the way for strong gains in the future.","news_type":1},"isVote":1,"tweetType":1,"viewCount":525,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9024413395,"gmtCreate":1653905397618,"gmtModify":1676535360439,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"the moment i buy is when it will drop","listText":"the moment i buy is when it will drop","text":"the moment i buy is when it will drop","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9024413395","repostId":"1135080799","repostType":4,"repost":{"id":"1135080799","pubTimestamp":1653903477,"share":"https://ttm.financial/m/news/1135080799?lang=&edition=fundamental","pubTime":"2022-05-30 17:37","market":"us","language":"en","title":"The Weight Of Evidence Is Building For A Significant Drop In Tesla","url":"https://stock-news.laohu8.com/highlight/detail?id=1135080799","media":"Seeking Alpha","summary":"SummaryThis technical analysis article is about Tesla's lower low third wave breaking.There's a wave one 1242-708 and wave two 708-1152.There's a wave three breakdown from 1152 through 708.There's a l","content":"<html><head></head><body><h2>Summary</h2><ul><li>This technical analysis article is about Tesla&#39;s lower low third wave breaking.</li><li>There&#39;s a wave one 1242-708 and wave two 708-1152.</li><li>There&#39;s a wave three breakdown from 1152 through 708.</li><li>There&#39;s a lower low three wave pattern under 708 support within the daily structure.</li><li>The target for Tesla is $176.</li></ul><p>Tesla&#39;s (NASDAQ:TSLA) third wave has broken through in the current three wave pattern, with a focus on wave three replicating wave one to land at $176.</p><p>I have two young sons. One wants to be a vetand the other wants to build houses. I often mention that law is a good subject to study as it can provide an open-minded and educated approach to everyday scenarios we encounter. Unfortunately, I am greeted with looks of bemusement when I suggest this; I guess they&#39;re still a bit too young for that suggestion.</p><p>I find it intriguing how during the origins of modern civilization, human beings agreed on fundamental written laws that still stand today. It was the Romans that came up with the concepts of <i>actus reus</i>(guilty act) and <i>mens rea</i>(guilty mind). A criminal court must be able to prove both beyond reasonable doubt in order to secure a conviction.</p><p>Today, if one is accused of a crime, you have the right to silence in some societies. You may simply say &#34;speak to my lawyer&#34; and, by staying silent, not implicate yourself in even a matter as simple as, &#34;I knew the person,&#34; for example. And you can wait for disclosure from the prosecution before building a defense. If you are accused of a crime, and you protest your innocence or invoke your right to remain silent, the prosecution must build a weight of evidence to prove that you committed the crime.</p><p>It&#39;s the argument between the prosecution and defense that goes a long way to determining the winner or loser in a case, and it is that way of thinking (the argument for or against the evidence) where a galaxy of interpretations and complex strategies by legal professionals come to the fore. There is an expanding of the mind to paint a picture of what may or may not be for or against the evidence in question. The importance of evidence also translates into many other fields in life, along with the skills of interpretation and argument.</p><p>In the case of Tesla&#39;s share price vs. future direction, we have clear evidence of a three wave structure, with the third wave making a lower low on the monthly chart below the rejections of waves one and two.</p><p><img src=\"https://static.tigerbbs.com/899838289c124cfeddeabcac7ce87e2a\" tg-width=\"640\" tg-height=\"1049\" referrerpolicy=\"no-referrer\"/></p><p>Tesla</p><p><i>Source: Chart created by the author with data taken from cTrader.</i></p><p>We can clearly see a bullish rejection at $1,242, with the price retracing to $708. This we now know is a wave one. The next is wave two at $1,152-$708. A break of $708 also confirms the wave three.</p><p>Now we can look at the argument as to where Tesla could be headed. I put it to you that the only printed directional bearing we have in front of us is the wave one at $1,242-$708. I would also put it to you that when a wave three breaks, two eventualities will happen - either the wave three will numerically copy wave one or fall further and land, in this case, at $176, or the wave three will fail at its task and take out $1,242 before completing the former.</p><p>However, there is clear evidence to argue that Tesla is going in the direction of $176. There is a wave one bearing, a wave two mismatch between buyers and sellers, and a wave three technical breakthrough. The $176 target is derived from the principles of the Ward Three Wave theory, which states that if waves one and two were able to continue between two separate price points before finding significant rejection, wave three will look with high probability to numerically copy wave one before it finds its significant rejection.</p><p>When I wrote the book<i>The Ward Three Wave Theory</i>, I wrote a chapter that focuses on waves within waves. It describes how to identify scenarios just like the one in front of us, where the wave three has broken above or below waves one and two. Switching backward from the monthly chart, identifying waves within waves can add credence to the fact that the third wave is breaking support with intent.</p><p>When we switch to the daily chart and look at the $708 region, we can also clearly see a lower low three wave pattern breaking down into the $600 price region. This is further evidence that perhaps this is not merely a flash dip into a macro wave three, but a tangible time frame that could add further evidence that Tesla&#39;s share price is making additional miniature three wave patterns within the direction of its macro third wave.</p><p><img src=\"https://static.tigerbbs.com/82af1928ef9d2a660e03fc64ad712559\" tg-width=\"640\" tg-height=\"1055\" referrerpolicy=\"no-referrer\"/></p><p>Tesla</p><p><i>Source: Chart created by the author with data taken from cTrader.</i></p><p>I would expect Tesla to complete its third wave within the next 90-120 days. The third wave has just broken through, with a target of $176 if wave three replicates the bearing set out by wave one. The share price could rise toward support at $708 and even challenge the highs of wave two before potentially dropping to complete the third wave. A move above $1,242 before touching $176 renders the third wave a fail.</p><p>I will be looking for bullish reversal three wave signals around that price area if the third wave completes. $176 might sound adventurous for Tesla&#39;s share price, but we must look at the evidence in front of us.</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>The Weight Of Evidence Is Building For A Significant Drop In Tesla</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\">\nThe Weight Of Evidence Is Building For A Significant Drop In Tesla\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-30 17:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4514972-tesla-could-see-a-significant-drop><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryThis technical analysis article is about Tesla's lower low third wave breaking.There's a wave one 1242-708 and wave two 708-1152.There's a wave three breakdown from 1152 through 708.There's a ...</p>\n\n<a href=\"https://seekingalpha.com/article/4514972-tesla-could-see-a-significant-drop\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4514972-tesla-could-see-a-significant-drop","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135080799","content_text":"SummaryThis technical analysis article is about Tesla's lower low third wave breaking.There's a wave one 1242-708 and wave two 708-1152.There's a wave three breakdown from 1152 through 708.There's a lower low three wave pattern under 708 support within the daily structure.The target for Tesla is $176.Tesla's (NASDAQ:TSLA) third wave has broken through in the current three wave pattern, with a focus on wave three replicating wave one to land at $176.I have two young sons. One wants to be a vetand the other wants to build houses. I often mention that law is a good subject to study as it can provide an open-minded and educated approach to everyday scenarios we encounter. Unfortunately, I am greeted with looks of bemusement when I suggest this; I guess they're still a bit too young for that suggestion.I find it intriguing how during the origins of modern civilization, human beings agreed on fundamental written laws that still stand today. It was the Romans that came up with the concepts of actus reus(guilty act) and mens rea(guilty mind). A criminal court must be able to prove both beyond reasonable doubt in order to secure a conviction.Today, if one is accused of a crime, you have the right to silence in some societies. You may simply say \"speak to my lawyer\" and, by staying silent, not implicate yourself in even a matter as simple as, \"I knew the person,\" for example. And you can wait for disclosure from the prosecution before building a defense. If you are accused of a crime, and you protest your innocence or invoke your right to remain silent, the prosecution must build a weight of evidence to prove that you committed the crime.It's the argument between the prosecution and defense that goes a long way to determining the winner or loser in a case, and it is that way of thinking (the argument for or against the evidence) where a galaxy of interpretations and complex strategies by legal professionals come to the fore. There is an expanding of the mind to paint a picture of what may or may not be for or against the evidence in question. The importance of evidence also translates into many other fields in life, along with the skills of interpretation and argument.In the case of Tesla's share price vs. future direction, we have clear evidence of a three wave structure, with the third wave making a lower low on the monthly chart below the rejections of waves one and two.TeslaSource: Chart created by the author with data taken from cTrader.We can clearly see a bullish rejection at $1,242, with the price retracing to $708. This we now know is a wave one. The next is wave two at $1,152-$708. A break of $708 also confirms the wave three.Now we can look at the argument as to where Tesla could be headed. I put it to you that the only printed directional bearing we have in front of us is the wave one at $1,242-$708. I would also put it to you that when a wave three breaks, two eventualities will happen - either the wave three will numerically copy wave one or fall further and land, in this case, at $176, or the wave three will fail at its task and take out $1,242 before completing the former.However, there is clear evidence to argue that Tesla is going in the direction of $176. There is a wave one bearing, a wave two mismatch between buyers and sellers, and a wave three technical breakthrough. The $176 target is derived from the principles of the Ward Three Wave theory, which states that if waves one and two were able to continue between two separate price points before finding significant rejection, wave three will look with high probability to numerically copy wave one before it finds its significant rejection.When I wrote the bookThe Ward Three Wave Theory, I wrote a chapter that focuses on waves within waves. It describes how to identify scenarios just like the one in front of us, where the wave three has broken above or below waves one and two. Switching backward from the monthly chart, identifying waves within waves can add credence to the fact that the third wave is breaking support with intent.When we switch to the daily chart and look at the $708 region, we can also clearly see a lower low three wave pattern breaking down into the $600 price region. This is further evidence that perhaps this is not merely a flash dip into a macro wave three, but a tangible time frame that could add further evidence that Tesla's share price is making additional miniature three wave patterns within the direction of its macro third wave.TeslaSource: Chart created by the author with data taken from cTrader.I would expect Tesla to complete its third wave within the next 90-120 days. The third wave has just broken through, with a target of $176 if wave three replicates the bearing set out by wave one. The share price could rise toward support at $708 and even challenge the highs of wave two before potentially dropping to complete the third wave. A move above $1,242 before touching $176 renders the third wave a fail.I will be looking for bullish reversal three wave signals around that price area if the third wave completes. $176 might sound adventurous for Tesla's share price, but we must look at the evidence in front of us.","news_type":1},"isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9022329054,"gmtCreate":1653479993478,"gmtModify":1676535289230,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"long term hold","listText":"long term hold","text":"long term hold","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022329054","repostId":"2238553638","repostType":4,"repost":{"id":"2238553638","pubTimestamp":1653471600,"share":"https://ttm.financial/m/news/2238553638?lang=&edition=fundamental","pubTime":"2022-05-25 17:40","market":"us","language":"en","title":"Palantir: Just Overhyped And Unprofitable?","url":"https://stock-news.laohu8.com/highlight/detail?id=2238553638","media":"Seekingalpha","summary":"SummaryI take a side-step from my typical valuation stock/DGR investing to heed a member and client ","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>I take a side-step from my typical valuation stock/DGR investing to heed a member and client request; to look at Palantir through my lens of investing.</li><li>I&#39;ve long been interested in Palantir because I understand the procurement/governmental side of the business due to my career.</li><li>However, Palantir has problems. It&#39;s my view that the company is not investable, even at this valuation.</li><li>Palantir is a great example of a great business idea being uninvestable due to a materially unattractive cost structure.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/58c58fa9a9fea9040328236b6e760355\" tg-width=\"1080\" tg-height=\"720\" width=\"100%\" height=\"auto\"/><span>Michael Vi/iStock Editorial via Getty Images</span></p><p>I&#39;ve long followed Palantir (NYSE:PLTR), in the way that one would follow something interesting from the periphery of one&#39;s vision. I&#39;ve never engaged with or been close to considering investing In the business. Thereason is that it doesn&#39;t really fulfill any of my targets as far as investments go.</p><p>However, just because I don&#39;t follow or consider a company good, doesn&#39;t mean it&#39;s not a good investment. Palantir has always been an interesting business because it works in a field where I myself have worked - only on the other side. Mission-critical digital infrastructure.</p><p><i>It&#39;s an appealing field.</i>There&#39;s zero doubt about it. Governments need it, and companies need to provide it. Most of the organizations I worked for before my career as an analyst still ran their systems on system backbones constructed in the mid-90s, which when used in 2017 was akin to strapping a rocket engine to a donkey.</p><p>In this article, we&#39;ll do an A to Z.</p><p>If you like Palantir, it&#39;s likely you won&#39;t like my conclusion.</p><p>But I respectfully request that you, if you mean to leap in and defend Palantir, first take the time and look at the arguments.</p><p>Ready? Let&#39;s get going.</p><p><b>Palantir - From A to Z</b></p><p>Palantir is<i>not</i>a freshly started tech growth stock. Palantir Technologies is an unprofitable tech company that was founded<i>after the dot-com bubble in 2003.</i></p><p>Many, many companies in the tech sector have gone from being startups to being profitable blockbusters in that time. Amazon (AMZN) is one of them. The first misconception is that Palantir is a &#34;new&#34; sort of company, but the fact is that it celebrates 20 years next year.</p><p>The company has some heavyweight names behind it. The founder and Chairman of the business is Peter Thiel, co-founder of PayPal (PYPL), initially as a company to<i>use PayPal&#39;s fraud recognition systems to reduce terrorism while preserving civil liberties.</i></p><p>Now, that&#39;s a mouthful - and unclear.</p><p>Today, Palantir does a few things, but we need to consider the company&#39;s operations on a high level - otherwise, they quickly become what&#39;s known as &#34;technobabble&#34; among those of us watching science-fiction.</p><p><i>Palantir enables organizations to transform large amounts of information into forms/assets that make sense for their workflows/organizations.</i></p><p>They do this through one of three principal software platforms:</p><ul><li><i>Gotham,</i>enables users to<i>identify patterns,</i>as well as helping to plan and execute real-world responses to threats that have been identified within the platform. In essence, the software identifies patterns that could be viewed as threats and allows government institutions to formulate effective responses.</li><li><i>Foundry</i>creates a central operating system (OS) for data, allowing users to integrate and analyze data in one location. This allows organizations to test new ideas and track data in a way that&#39;s not possible in as simple a manner with legacy operating systems or software.</li><li><i>Apollo</i>is essentially a software delivery system that can handle cloud delivery, on-premise or more advanced deliveries. Apollo delivers both software and updates, both the company&#39;s and customers&#39; own updates.</li></ul><p>For someone not versed in governmental issues and challenges, even with this very short description, it might be hard to see what good this does the customers.</p><p><b>Examples are a must. Here are 2.</b></p><ul><li>Palantir is used by<i>Airbus (EADSY) and the aviation industry.</i>It initially started off as an A350 Production software but grew into Skywise, the central OS for the entire airline industry. The company&#39;s software connects 9,000 planes from 100 operators, and Palantir&#39;s systems are used to assist in the design, manufacture, servicing, operations, and maintenance of global airline fleets.</li><li>Utilities such as<i>Pacific Gas &amp; Electric (PG&amp;E)</i>use the company&#39;s software in a central hub that could organize and analyze billions of data points every single day. Through Foundry, the company is presented with a complete picture of its operating grid, combining geospatial location, equipment health, and topology to answer questions regarding when to perform preventative maintenance and the like. Foundry has also been integrated in the process of switching off/on its system at critical junctures.</li></ul><p>This presents, in an effective manner, why the company&#39;s products and services are attractive to its consumers.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8ec9b9affe6c176c14826c624563d5b0\" tg-width=\"640\" tg-height=\"335\" width=\"100%\" height=\"auto\"/><span>Palantir Presentation (Palantir IR)</span></p><p>This sort of business model is very reliant on<i>effective sales and marketing.</i>These systems have extremely costly installation costs, high complexity, and very long sales cycles. Customer acquisition is complex and costly, even if these facts raise the entry barriers and moats in comparison to the competition.</p><p>The fact that there&#39;s a very long history of failures in large-scale ERP system integration, and costly ones, are warning cases for customers and Palantir as well. This includes use cases such as Waste Management&#39;s (WM) $500M ERP failure, and military ERP integration failures of twice that amount. It&#39;s no surprise from these failures that institutions are extremely leery about implementing large-scale solutions and have become cautious to invest. So, one of the main challenges for Palantir is indeed overcoming this, and the track record that the company has with governments and megacorps spells out, in a very real way, that the company is succeeding in this.</p><p>One confirmation of this was the way Palantir worked with the NSH to track the progress of COVID and contain the pandemic. Palantir also developed Tiberius, a software for vaccine allocation used in the United States and got a contract with the Food and Drug Administration in the US back in 2020.</p><p>Some fresh stats.</p><p><i>58%</i>of the $1.5B in revenues generated in 2021 came from Government, the rest from the Commercial segment.<i>57%</i>came from US domestic customers, 43% from abroad.</p><p>Average RPC (Revenue per Customer) on a TTM was $6.5M, which is down YoY, with the top twenty customers at an average of $43.6M, quite a bit above that, and up YoY. What this means is that big customers are becoming more important to the company.</p><p><i>Fundamentally,</i>Palantir does not have a credit rating. It also hasn&#39;t posted positive GAAP EPS at any point as of this time.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/70f70c9ed78a8eaf4f83a3857225106a\" tg-width=\"640\" tg-height=\"274\" width=\"100%\" height=\"auto\"/><span>Palantir GAAP EPS (TIKR.com)</span></p><p>For the past quarter, with the latest 1Q22 highlights, the company focuses a great deal on the impressive numbers in its revenues. And indeed, in terms of sales revenues, commercial revenues (domestic especially), an increased customer count, and other sales positives.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de38bee0d98e19141a059418ca1df8d5\" tg-width=\"640\" tg-height=\"281\" width=\"100%\" height=\"auto\"/><span>Palantir 1Q22 Presentation (Palantir IR)</span></p><p>The company also posts a supposed &#34;adjusted OM&#34; of 26%. Given the number and type of adjustments, I consider these to be near-irrelevant in a profitability context. GAAP OM is negative 9% even with these absolutely superb revenue growth numbers. What this means is that despite record customer growth and record interest for the company&#39;s services, the company as of yet fails to turn a single dollar of GAAP profit.</p><p>The company speaks of TAM expansion, with large addressable markets overall. The one positive takeaway that I see is that theoretically, given the OM improvement from revenues is that there is a theoretical point when the company<i>could</i>turn GAAP EPS positive if the customer growth is high enough.</p><p>The company keeps adding customers and impressive contracts. The company&#39;s appeal and ability to add customers to its roster across the globe is not the question.<i>The profitability with which the company does this is in question.</i></p><p>Everywhere Palantir reports, the company speaks of revenues, customer counts, contracts, deals closed, billings, and &#34;adjusted&#34; margins. The company&#39;s guidance numbers<i>strictly</i>focus on adding revenues, and adjusted sort of margins.</p><p>The company knows well its challenge of becoming a GAAP-profitable business.</p><p><b>How bad is it?</b></p><p>I view it as &#34;pretty bad&#34;. Numbers and visual representations of numbers speak louder than words.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f156814bcae6199f997f950293378c58\" tg-width=\"640\" tg-height=\"277\" width=\"100%\" height=\"auto\"/><span>Palantir - Profitability/Shares Outstanding (TIKR.com)</span></p><p>Palantir has failed to produce positive EBITDA, and positive Operating income, and has recorded massive increases in share count due to substantial SBC over the past few years. The impact of SBC can best be understood by taking look at the gross profit numbers, including SBC.</p><p>Overall, Palantir has recorded over $2B of SBC in FY20 and FY21, which can be compared to FY20 and FY21 sales revenues of around $2.6B - a fairly exorbitant amount by any standard.</p><p>I went through the results of excessive SBC in my article on Twilio (TWLO). SBC isn&#39;t a problem - but it cannot be ignored as a cost, as some are wont to do. It needs to be added back, and this means that SBC is a drag on company profits - as any expense is supposed to be.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0a18ebd7c8e030c1fc9e52ea4e71c875\" tg-width=\"640\" tg-height=\"332\" width=\"100%\" height=\"auto\"/><span>Palantir Presentation (Palantir IR)</span></p><p>One of the main problems with Palantir&#39;s SBC is that management, as of yet, hasn&#39;t issued any sort of guidance as to these expenses or their plan for them, which obviously leaves investors in a bit of limbo. This is especially problematic given that Palantir has lost more than 58% of its value since December of 2021, and now trades <i>below $8/share.</i></p><p>Imagine if part of your comp was SBC, and you&#39;ve lost around 50% of that value in less than 5 months. Pretty brutal, regardless of whom you are. Also, a large part of that SBC is being granted to management.</p><p>Plenty of contributors viewed the SBC as a non-issue in 2021, arguing that the company is about to deliver on multimillion projects which could leave them in a labor lurch if engineers were to leave, which can be prevented with appealing SBC packages. I personally don&#39;t believe, given share price performance and how the SBC is split among the employees, that this acts as a big motivator anymore. You could make an argument that Palantir should be attractive as an insider buying target here.</p><p><i>Evidence suggests otherwise.</i>Executives and insiders are selling their stocks as soon as they can, and there haven&#39;t been registered insider buys for a very long time.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e80192d3d629a212bed9b6c9972d8d6d\" tg-width=\"640\" tg-height=\"399\" width=\"100%\" height=\"auto\"/><span>Palantir insider trades (MarketBeat)</span></p><p>So, Insiders are telling you that &#34;I don&#39;t like this price&#34;. Not at $20/share. Not at $10/share. Not even at $9/share. If the people going to work every day aren&#39;t willing to hold onto their shares, why should you want to buy the company at this price?</p><p>So, concluding this, I argue that while the company is skilled at presenting us with revenue increases, new clients, new contracts, and interesting case studies,<i>the math still doesn&#39;t work.</i></p><p>The numbers are <i>awful.</i></p><p>Operational Challenges...</p><p>A core issue that Palantir is facing is the growth on the commercial side of the business, versus the much-lauded governmental business side of the business. It&#39;s this which for a long time has been called the differentiator between PLTR and other companies. Governmental growth has been the argument for investing in the business, in that the growth here is going to be/could be in the triple digits, but the trend has actually gone the other way, down to only 16% government-specific revenue growth for the latest quarter. That same number was 76% a year ago.</p><p>As I mentioned above, governmental contracts account for the majority of the company&#39;s revenue. A slowdown here is serious business, and it&#39;s being underestimated by bullish contributors on the company, not even starting to mention some of the math that doesn&#39;t work.</p><p>Yeah, commercial revenues are on the rise, but part of the bull thesis has always been that governmental, long-cycle, massive-contract-value appeal. If the company is now starting to focus on smaller contract value, commercial-type contracts, that could prove dilutive to the company&#39;s margins. SG&amp;A is already at significant levels, and as I mentioned - these companies need excellent salespeople.</p><p>I watch a lot of Shark Tank, as I&#39;m sure some of you do as well. And I can&#39;t help but think that when I watch this company and dig through its numbers, I feel a bit like Marc Cuban or Kevin O&#39;Leary telling someone that<i>your business model doesn&#39;t work.</i></p><p>If you continually adjust your profitability metrics by excluding or adding certain items but are never profitable on any metric that actually matters, you don&#39;t have a profitable business. You have a business - but not a profitable one.</p><p><b>Palantir keeps losing money.</b></p><p>The net loss for 1Q22 alone was over $100M. If we follow these losses in the accumulated deficit item in the balance sheet, we learn that Palantir has accumulated $5.6B as of 1Q22. That&#39;s around 33% of its entire market capitalization.</p><p>The problem is, as I say - operating expenses. Operating expenses are a collection of expenses including things like Sales, Marketing, payroll, admin, overhead, and so forth.</p><p><b>And Palantir is failing to get these right.</b></p><p>Business 101: if your operating expenses are higher than your revenues, that means you are<i>losing money on a per-sale basis.</i></p><p>If this becomes a trend, all you&#39;re doing on a per-sale basis is adding new losses to that accumulated deficit. If shareholders, financiers, or the market keeps propping you up, well, you can go right ahead and keep financing and working your business, continually operating at a loss.</p><p>On a per-dollar level in sales, the company is spending 39 cents for every dollar made in sales, in Sales/marketing.</p><p>That&#39;s insane. It&#39;s at a level where Mr. O&#39;Leary if someone came to him with the idea, would say that the time has come for you to take your business idea behind the barn and shoot it. Palantir has been completely unable to bring these down. They&#39;ve remained over 35% for<i>years.</i>And management has yet to give any concrete plan for bringing this down.</p><p>Remember, even if they started bringing it down, they&#39;d have to<i>break even</i>before we can start talking about GAAP Profit. As of right now, I don&#39;t even see a way for the company to actually break even on a GAAP basis.</p><p><b>...and doubts about Scalability...</b></p><p>When you operate a highly specialized business, your expertise and tailoring your product specifically to consumers is incredibly important and difficult. It takes time. You&#39;re not selling a $1.49 widget at a store; you&#39;re convincing a customer to adopt a highly specialized solution.</p><p>High CAC (Customer Acquisition Costs) or sales/marketing costs compared to income or sales revenue are typically indicative of advanced products that require a great degree of marketing and tailoring. This is not an issue in itself - it becomes an issue when the argument is for this to be scalable. Because if you&#39;re losing money on every sale now, there really isn&#39;t an argument to be made for the scalability of its sales models that could produce a positive profit.</p><p><i>But Wolf Report,</i>you might say -<i>surely you can&#39;t just use a method that would be used on a $50k startup when viewing Palantir? They&#39;re wildly different businesses, and Palantir has a market capitalization of over $15B!</i></p><p>They do. They have a massive market cap, and they&#39;ve done very impressive things.</p><p>They&#39;ve done very impressive things, except the one thing that I care about -<i>they haven&#39;t generated positive GAAP EPS.</i></p><p><b>...leading to question the company&#39;s fundamental existence</b></p><p>What I love about investing is that it&#39;s a binary sort of thing. It&#39;s a Yes/No- thing.</p><p>You either have profit, or you haven&#39;t. I don&#39;t allow for senseless and whitewash adjustments. Palantir hasn&#39;t made a profit, and I don&#39;t see any indication that it&#39;s going to turn a profit this year either.</p><p>Palantir suffers from what typically is the Achilles heel in a startup - not a $15B tech giant -<i>Optimism.</i></p><p>The company and the bullish contributors are so in love with the company&#39;s ideas, products, and services. They&#39;re so very convinced, that this is needed. This is something the world, that companies, and governments, desperately need.</p><p><b>And you know what?</b></p><p><i>Palantir is absolutely right. The bulls are absolutely right. The world, the governments, and organizations need such products.</i></p><p>You will not find me arguing with this. As I mentioned, I worked on this equation, in procurement. I would have been thrilled beyond the moon to be able to take advantage of their excellent offerings.</p><p><b>Why?</b></p><p>Because Palantir has no real peers. I&#39;ve looked. No company does what Palantir does, not to the degree. Oh, there are businesses like Tyler Technologies (TYL), Verint (VRNT), and Splunk (SPLK) - but none offer the sort of comprehensive solution that is Gotham, Foundry, and Apollo.</p><p><i>The problem is</i>- and I want to drill this home with the sort of fervor of slamming a gavel into the tabletop again and again -<i>you are not doing so profitably.</i></p><p>What right does a company have to exist, that is unable to generate acceptable GAAP profits in near-on 20 years?</p><p>How long should patient shareholders wait before carefully knocking on Palantir&#39;s door and asking;<i>&#34;Y&#39;know, I lent you some money a few years back, any idea when I can start seeing some return on that?&#34;</i></p><p>A company that does not generate profits is not a company with a future. It&#39;s either a charity or a company that does not deserve to survive.</p><p><b>The solution</b></p><p>Become profitable.</p><p>Quite an obvious solution there, but it&#39;s really the only thing that can be said. Palantir is focusing on acquiring new customers and adding new contracts - when every sale they make adds more losses, not profits, to their balance sheets.</p><p>What the company needs to do is one of two things - or preferably a combination of both.</p><ul><li><i>Cut Expenses</i></li><li><i>Raise prices</i></li></ul><p>And speaking of someone from the government, I can tell you that one of the least interesting points when we were procuring specialized solutions, was actually pricing. Fit, ease of use, and scalability were far more important. I&#39;m not claiming to have enough insight into the business that I know what the company &#34;should&#34; charge, beyond saying that Palantir needs to charge more for their products and services. This is in part because I believe it will be hard to cut SG&amp;A from the company&#39;s process due to the highly specialized nature of sales.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6f47371dc88953f0a08fc6aa2134a316\" tg-width=\"640\" tg-height=\"344\" width=\"100%\" height=\"auto\"/><span>Palantir Presentation (Palantir IR)</span></p><p>Palantir isn&#39;t profitable. Palantir needs to become profitable. There are only two ways to do that. Either spend less or earn more.</p><p>But earning more while maintaining a cost structure that results in losses, not profits, is not a way to go about it.</p><p>The obvious result of such a strategy, in the end, is that Palantir will keep dropping. Remember, as interest rates rise, debt will become increasingly more expensive. The company will have to raise capital, and issue equity at more and more expensive levels.</p><p>In the end, it will all come to its natural conclusion.</p><p>The company will either become defunct, or it will be chopped up and sold for parts. I personally believe that the company&#39;s products are <b>solid</b> and would probably make for excellent assets in someone&#39;s business - though I do not argue for investing in Palantir as an M&amp;A target.</p><p>Bulls focus on revenues, sales, and contracts.<i>This is the wrong focus.</i>Before you can start to focus on growing the business, or the product, you must ask yourself -<i>do you have a working business model?</i></p><p>A working business model entails<i>making money</i><b>.</b>Palantir does not.</p><p><i>Ipso Facto</i>, Palantir does not currently have a working business model, or at the very least a working cost structure.</p><p>This is the root of the problem I would want management to address before even designing to give a price target on this business.</p><p><b>Valuation &amp; Conclusion</b></p><p>So, do I like Palantir?</p><p>Absolutely, I do.</p><p>The company makes the sort of products and services that I would consider to be integral to effective working government and institutions. However, in terms of valuation, the company has fallen very quickly even from analyst mean targets.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a7aa33b3dc2e0b863b7b522e16e7864f\" tg-width=\"640\" tg-height=\"435\" width=\"100%\" height=\"auto\"/><span>Palantir Mean Price targets (TIKR.com)</span></p><p>The current share price target goes down to below $6 at the lowest, and I consider even that to be too high for an unprofitable business. Despite the mean target being $12.35/share, less than half (3 out of 10) are currently at a &#34;BUY&#34;.</p><p>It&#39;s pointless to talk about upside in terms of P/E without actual earnings. What we can look at is things like P/S or P/revenue multiples. At a P/S of just below 10X, it can be argued that the company is now below where it should be. At revenue multiples at around 8.5X, it&#39;s lower than ever before - but the quality of those revenues and those sales is very low because they actually don&#39;t net any positive bottom line.</p><p>Want Palantir?</p><p><b>Go options.</b></p><p>The only way I currently consider any valid is to make money, or potentially own the company at this time.</p><p>The $4 puts yield over 15% annualized at a currently offered $0.15 premium.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2afb61d62b3cc80c8043b76b8038ad39\" tg-width=\"492\" tg-height=\"376\" width=\"100%\" height=\"auto\"/><span>Palantir Put Options (Author&#39;s Data, Yahoo Finance)</span></p><p>Pretty good returns - as long as you understand that even under these circumstances, under the current profits and cost structure, even $4 is too much from a P/S and a P/Revenue perspective.</p><p>Still, it&#39;s a nice drop-down from $7.8 per share - over 50%. The company may go there. But if you want it, this is a way to actually make a<i>profit</i>- if it goes up, or even if it goes down a little. And if it does, you could end up owning PLTR at less than $4 after premiums.</p><p>Palantir is a relatively unique company.</p><p><i>I love the business.</i></p><p>I hate management/the way they<i>do business</i>because they&#39;re a failure in they haven&#39;t generated profit in almost 20 years.</p><p>For that reason, as they say on Shark Tank, &#34;I&#39;m out&#34;. I&#39;m at a &#34;HOLD&#34;, and I could sell some puts to make some money, but at the same time, even at $4/share, this company is too expensive.</p><p>Be careful if you&#39;re buying this business because it fails at the most fundamental things businesses are supposed to do.</p><p>It doesn&#39;t make any money.</p><p>Thank you for reading.</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>Palantir: Just Overhyped And Unprofitable?</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\">\nPalantir: Just Overhyped And Unprofitable?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-25 17:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4514249-palantir-just-overhyped-and-unprofitable><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryI take a side-step from my typical valuation stock/DGR investing to heed a member and client request; to look at Palantir through my lens of investing.I've long been interested in Palantir ...</p>\n\n<a href=\"https://seekingalpha.com/article/4514249-palantir-just-overhyped-and-unprofitable\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4514249-palantir-just-overhyped-and-unprofitable","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2238553638","content_text":"SummaryI take a side-step from my typical valuation stock/DGR investing to heed a member and client request; to look at Palantir through my lens of investing.I've long been interested in Palantir because I understand the procurement/governmental side of the business due to my career.However, Palantir has problems. It's my view that the company is not investable, even at this valuation.Palantir is a great example of a great business idea being uninvestable due to a materially unattractive cost structure.Michael Vi/iStock Editorial via Getty ImagesI've long followed Palantir (NYSE:PLTR), in the way that one would follow something interesting from the periphery of one's vision. I've never engaged with or been close to considering investing In the business. Thereason is that it doesn't really fulfill any of my targets as far as investments go.However, just because I don't follow or consider a company good, doesn't mean it's not a good investment. Palantir has always been an interesting business because it works in a field where I myself have worked - only on the other side. Mission-critical digital infrastructure.It's an appealing field.There's zero doubt about it. Governments need it, and companies need to provide it. Most of the organizations I worked for before my career as an analyst still ran their systems on system backbones constructed in the mid-90s, which when used in 2017 was akin to strapping a rocket engine to a donkey.In this article, we'll do an A to Z.If you like Palantir, it's likely you won't like my conclusion.But I respectfully request that you, if you mean to leap in and defend Palantir, first take the time and look at the arguments.Ready? Let's get going.Palantir - From A to ZPalantir isnota freshly started tech growth stock. Palantir Technologies is an unprofitable tech company that was foundedafter the dot-com bubble in 2003.Many, many companies in the tech sector have gone from being startups to being profitable blockbusters in that time. Amazon (AMZN) is one of them. The first misconception is that Palantir is a \"new\" sort of company, but the fact is that it celebrates 20 years next year.The company has some heavyweight names behind it. The founder and Chairman of the business is Peter Thiel, co-founder of PayPal (PYPL), initially as a company touse PayPal's fraud recognition systems to reduce terrorism while preserving civil liberties.Now, that's a mouthful - and unclear.Today, Palantir does a few things, but we need to consider the company's operations on a high level - otherwise, they quickly become what's known as \"technobabble\" among those of us watching science-fiction.Palantir enables organizations to transform large amounts of information into forms/assets that make sense for their workflows/organizations.They do this through one of three principal software platforms:Gotham,enables users toidentify patterns,as well as helping to plan and execute real-world responses to threats that have been identified within the platform. In essence, the software identifies patterns that could be viewed as threats and allows government institutions to formulate effective responses.Foundrycreates a central operating system (OS) for data, allowing users to integrate and analyze data in one location. This allows organizations to test new ideas and track data in a way that's not possible in as simple a manner with legacy operating systems or software.Apollois essentially a software delivery system that can handle cloud delivery, on-premise or more advanced deliveries. Apollo delivers both software and updates, both the company's and customers' own updates.For someone not versed in governmental issues and challenges, even with this very short description, it might be hard to see what good this does the customers.Examples are a must. Here are 2.Palantir is used byAirbus (EADSY) and the aviation industry.It initially started off as an A350 Production software but grew into Skywise, the central OS for the entire airline industry. The company's software connects 9,000 planes from 100 operators, and Palantir's systems are used to assist in the design, manufacture, servicing, operations, and maintenance of global airline fleets.Utilities such asPacific Gas & Electric (PG&E)use the company's software in a central hub that could organize and analyze billions of data points every single day. Through Foundry, the company is presented with a complete picture of its operating grid, combining geospatial location, equipment health, and topology to answer questions regarding when to perform preventative maintenance and the like. Foundry has also been integrated in the process of switching off/on its system at critical junctures.This presents, in an effective manner, why the company's products and services are attractive to its consumers.Palantir Presentation (Palantir IR)This sort of business model is very reliant oneffective sales and marketing.These systems have extremely costly installation costs, high complexity, and very long sales cycles. Customer acquisition is complex and costly, even if these facts raise the entry barriers and moats in comparison to the competition.The fact that there's a very long history of failures in large-scale ERP system integration, and costly ones, are warning cases for customers and Palantir as well. This includes use cases such as Waste Management's (WM) $500M ERP failure, and military ERP integration failures of twice that amount. It's no surprise from these failures that institutions are extremely leery about implementing large-scale solutions and have become cautious to invest. So, one of the main challenges for Palantir is indeed overcoming this, and the track record that the company has with governments and megacorps spells out, in a very real way, that the company is succeeding in this.One confirmation of this was the way Palantir worked with the NSH to track the progress of COVID and contain the pandemic. Palantir also developed Tiberius, a software for vaccine allocation used in the United States and got a contract with the Food and Drug Administration in the US back in 2020.Some fresh stats.58%of the $1.5B in revenues generated in 2021 came from Government, the rest from the Commercial segment.57%came from US domestic customers, 43% from abroad.Average RPC (Revenue per Customer) on a TTM was $6.5M, which is down YoY, with the top twenty customers at an average of $43.6M, quite a bit above that, and up YoY. What this means is that big customers are becoming more important to the company.Fundamentally,Palantir does not have a credit rating. It also hasn't posted positive GAAP EPS at any point as of this time.Palantir GAAP EPS (TIKR.com)For the past quarter, with the latest 1Q22 highlights, the company focuses a great deal on the impressive numbers in its revenues. And indeed, in terms of sales revenues, commercial revenues (domestic especially), an increased customer count, and other sales positives.Palantir 1Q22 Presentation (Palantir IR)The company also posts a supposed \"adjusted OM\" of 26%. Given the number and type of adjustments, I consider these to be near-irrelevant in a profitability context. GAAP OM is negative 9% even with these absolutely superb revenue growth numbers. What this means is that despite record customer growth and record interest for the company's services, the company as of yet fails to turn a single dollar of GAAP profit.The company speaks of TAM expansion, with large addressable markets overall. The one positive takeaway that I see is that theoretically, given the OM improvement from revenues is that there is a theoretical point when the companycouldturn GAAP EPS positive if the customer growth is high enough.The company keeps adding customers and impressive contracts. The company's appeal and ability to add customers to its roster across the globe is not the question.The profitability with which the company does this is in question.Everywhere Palantir reports, the company speaks of revenues, customer counts, contracts, deals closed, billings, and \"adjusted\" margins. The company's guidance numbersstrictlyfocus on adding revenues, and adjusted sort of margins.The company knows well its challenge of becoming a GAAP-profitable business.How bad is it?I view it as \"pretty bad\". Numbers and visual representations of numbers speak louder than words.Palantir - Profitability/Shares Outstanding (TIKR.com)Palantir has failed to produce positive EBITDA, and positive Operating income, and has recorded massive increases in share count due to substantial SBC over the past few years. The impact of SBC can best be understood by taking look at the gross profit numbers, including SBC.Overall, Palantir has recorded over $2B of SBC in FY20 and FY21, which can be compared to FY20 and FY21 sales revenues of around $2.6B - a fairly exorbitant amount by any standard.I went through the results of excessive SBC in my article on Twilio (TWLO). SBC isn't a problem - but it cannot be ignored as a cost, as some are wont to do. It needs to be added back, and this means that SBC is a drag on company profits - as any expense is supposed to be.Palantir Presentation (Palantir IR)One of the main problems with Palantir's SBC is that management, as of yet, hasn't issued any sort of guidance as to these expenses or their plan for them, which obviously leaves investors in a bit of limbo. This is especially problematic given that Palantir has lost more than 58% of its value since December of 2021, and now trades below $8/share.Imagine if part of your comp was SBC, and you've lost around 50% of that value in less than 5 months. Pretty brutal, regardless of whom you are. Also, a large part of that SBC is being granted to management.Plenty of contributors viewed the SBC as a non-issue in 2021, arguing that the company is about to deliver on multimillion projects which could leave them in a labor lurch if engineers were to leave, which can be prevented with appealing SBC packages. I personally don't believe, given share price performance and how the SBC is split among the employees, that this acts as a big motivator anymore. You could make an argument that Palantir should be attractive as an insider buying target here.Evidence suggests otherwise.Executives and insiders are selling their stocks as soon as they can, and there haven't been registered insider buys for a very long time.Palantir insider trades (MarketBeat)So, Insiders are telling you that \"I don't like this price\". Not at $20/share. Not at $10/share. Not even at $9/share. If the people going to work every day aren't willing to hold onto their shares, why should you want to buy the company at this price?So, concluding this, I argue that while the company is skilled at presenting us with revenue increases, new clients, new contracts, and interesting case studies,the math still doesn't work.The numbers are awful.Operational Challenges...A core issue that Palantir is facing is the growth on the commercial side of the business, versus the much-lauded governmental business side of the business. It's this which for a long time has been called the differentiator between PLTR and other companies. Governmental growth has been the argument for investing in the business, in that the growth here is going to be/could be in the triple digits, but the trend has actually gone the other way, down to only 16% government-specific revenue growth for the latest quarter. That same number was 76% a year ago.As I mentioned above, governmental contracts account for the majority of the company's revenue. A slowdown here is serious business, and it's being underestimated by bullish contributors on the company, not even starting to mention some of the math that doesn't work.Yeah, commercial revenues are on the rise, but part of the bull thesis has always been that governmental, long-cycle, massive-contract-value appeal. If the company is now starting to focus on smaller contract value, commercial-type contracts, that could prove dilutive to the company's margins. SG&A is already at significant levels, and as I mentioned - these companies need excellent salespeople.I watch a lot of Shark Tank, as I'm sure some of you do as well. And I can't help but think that when I watch this company and dig through its numbers, I feel a bit like Marc Cuban or Kevin O'Leary telling someone thatyour business model doesn't work.If you continually adjust your profitability metrics by excluding or adding certain items but are never profitable on any metric that actually matters, you don't have a profitable business. You have a business - but not a profitable one.Palantir keeps losing money.The net loss for 1Q22 alone was over $100M. If we follow these losses in the accumulated deficit item in the balance sheet, we learn that Palantir has accumulated $5.6B as of 1Q22. That's around 33% of its entire market capitalization.The problem is, as I say - operating expenses. Operating expenses are a collection of expenses including things like Sales, Marketing, payroll, admin, overhead, and so forth.And Palantir is failing to get these right.Business 101: if your operating expenses are higher than your revenues, that means you arelosing money on a per-sale basis.If this becomes a trend, all you're doing on a per-sale basis is adding new losses to that accumulated deficit. If shareholders, financiers, or the market keeps propping you up, well, you can go right ahead and keep financing and working your business, continually operating at a loss.On a per-dollar level in sales, the company is spending 39 cents for every dollar made in sales, in Sales/marketing.That's insane. It's at a level where Mr. O'Leary if someone came to him with the idea, would say that the time has come for you to take your business idea behind the barn and shoot it. Palantir has been completely unable to bring these down. They've remained over 35% foryears.And management has yet to give any concrete plan for bringing this down.Remember, even if they started bringing it down, they'd have tobreak evenbefore we can start talking about GAAP Profit. As of right now, I don't even see a way for the company to actually break even on a GAAP basis....and doubts about Scalability...When you operate a highly specialized business, your expertise and tailoring your product specifically to consumers is incredibly important and difficult. It takes time. You're not selling a $1.49 widget at a store; you're convincing a customer to adopt a highly specialized solution.High CAC (Customer Acquisition Costs) or sales/marketing costs compared to income or sales revenue are typically indicative of advanced products that require a great degree of marketing and tailoring. This is not an issue in itself - it becomes an issue when the argument is for this to be scalable. Because if you're losing money on every sale now, there really isn't an argument to be made for the scalability of its sales models that could produce a positive profit.But Wolf Report,you might say -surely you can't just use a method that would be used on a $50k startup when viewing Palantir? They're wildly different businesses, and Palantir has a market capitalization of over $15B!They do. They have a massive market cap, and they've done very impressive things.They've done very impressive things, except the one thing that I care about -they haven't generated positive GAAP EPS....leading to question the company's fundamental existenceWhat I love about investing is that it's a binary sort of thing. It's a Yes/No- thing.You either have profit, or you haven't. I don't allow for senseless and whitewash adjustments. Palantir hasn't made a profit, and I don't see any indication that it's going to turn a profit this year either.Palantir suffers from what typically is the Achilles heel in a startup - not a $15B tech giant -Optimism.The company and the bullish contributors are so in love with the company's ideas, products, and services. They're so very convinced, that this is needed. This is something the world, that companies, and governments, desperately need.And you know what?Palantir is absolutely right. The bulls are absolutely right. The world, the governments, and organizations need such products.You will not find me arguing with this. As I mentioned, I worked on this equation, in procurement. I would have been thrilled beyond the moon to be able to take advantage of their excellent offerings.Why?Because Palantir has no real peers. I've looked. No company does what Palantir does, not to the degree. Oh, there are businesses like Tyler Technologies (TYL), Verint (VRNT), and Splunk (SPLK) - but none offer the sort of comprehensive solution that is Gotham, Foundry, and Apollo.The problem is- and I want to drill this home with the sort of fervor of slamming a gavel into the tabletop again and again -you are not doing so profitably.What right does a company have to exist, that is unable to generate acceptable GAAP profits in near-on 20 years?How long should patient shareholders wait before carefully knocking on Palantir's door and asking;\"Y'know, I lent you some money a few years back, any idea when I can start seeing some return on that?\"A company that does not generate profits is not a company with a future. It's either a charity or a company that does not deserve to survive.The solutionBecome profitable.Quite an obvious solution there, but it's really the only thing that can be said. Palantir is focusing on acquiring new customers and adding new contracts - when every sale they make adds more losses, not profits, to their balance sheets.What the company needs to do is one of two things - or preferably a combination of both.Cut ExpensesRaise pricesAnd speaking of someone from the government, I can tell you that one of the least interesting points when we were procuring specialized solutions, was actually pricing. Fit, ease of use, and scalability were far more important. I'm not claiming to have enough insight into the business that I know what the company \"should\" charge, beyond saying that Palantir needs to charge more for their products and services. This is in part because I believe it will be hard to cut SG&A from the company's process due to the highly specialized nature of sales.Palantir Presentation (Palantir IR)Palantir isn't profitable. Palantir needs to become profitable. There are only two ways to do that. Either spend less or earn more.But earning more while maintaining a cost structure that results in losses, not profits, is not a way to go about it.The obvious result of such a strategy, in the end, is that Palantir will keep dropping. Remember, as interest rates rise, debt will become increasingly more expensive. The company will have to raise capital, and issue equity at more and more expensive levels.In the end, it will all come to its natural conclusion.The company will either become defunct, or it will be chopped up and sold for parts. I personally believe that the company's products are solid and would probably make for excellent assets in someone's business - though I do not argue for investing in Palantir as an M&A target.Bulls focus on revenues, sales, and contracts.This is the wrong focus.Before you can start to focus on growing the business, or the product, you must ask yourself -do you have a working business model?A working business model entailsmaking money.Palantir does not.Ipso Facto, Palantir does not currently have a working business model, or at the very least a working cost structure.This is the root of the problem I would want management to address before even designing to give a price target on this business.Valuation & ConclusionSo, do I like Palantir?Absolutely, I do.The company makes the sort of products and services that I would consider to be integral to effective working government and institutions. However, in terms of valuation, the company has fallen very quickly even from analyst mean targets.Palantir Mean Price targets (TIKR.com)The current share price target goes down to below $6 at the lowest, and I consider even that to be too high for an unprofitable business. Despite the mean target being $12.35/share, less than half (3 out of 10) are currently at a \"BUY\".It's pointless to talk about upside in terms of P/E without actual earnings. What we can look at is things like P/S or P/revenue multiples. At a P/S of just below 10X, it can be argued that the company is now below where it should be. At revenue multiples at around 8.5X, it's lower than ever before - but the quality of those revenues and those sales is very low because they actually don't net any positive bottom line.Want Palantir?Go options.The only way I currently consider any valid is to make money, or potentially own the company at this time.The $4 puts yield over 15% annualized at a currently offered $0.15 premium.Palantir Put Options (Author's Data, Yahoo Finance)Pretty good returns - as long as you understand that even under these circumstances, under the current profits and cost structure, even $4 is too much from a P/S and a P/Revenue perspective.Still, it's a nice drop-down from $7.8 per share - over 50%. The company may go there. But if you want it, this is a way to actually make aprofit- if it goes up, or even if it goes down a little. And if it does, you could end up owning PLTR at less than $4 after premiums.Palantir is a relatively unique company.I love the business.I hate management/the way theydo businessbecause they're a failure in they haven't generated profit in almost 20 years.For that reason, as they say on Shark Tank, \"I'm out\". I'm at a \"HOLD\", and I could sell some puts to make some money, but at the same time, even at $4/share, this company is too expensive.Be careful if you're buying this business because it fails at the most fundamental things businesses are supposed to do.It doesn't make any money.Thank you for reading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9065161674,"gmtCreate":1652155473298,"gmtModify":1676535042494,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"long term bullish?","listText":"long term bullish?","text":"long term bullish?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9065161674","repostId":"2234857462","repostType":4,"repost":{"id":"2234857462","pubTimestamp":1652149289,"share":"https://ttm.financial/m/news/2234857462?lang=&edition=fundamental","pubTime":"2022-05-10 10:21","market":"us","language":"en","title":"Why Nvidia Stock Fell Over 9% Today","url":"https://stock-news.laohu8.com/highlight/detail?id=2234857462","media":"Motley Fool","summary":"More market turmoil is striking to start the new week.","content":"<html><head></head><body><h2>What happened</h2><p>Shares of <b>Nvidia</b> were down 9.24% today. The sharp move down is in tandem with widespread pain in the stock market. The <b>Nasdaq Composite Index</b> was down 4.29%.</p><p>Another wave of selling followed the Federal Reserve&#39;s decision to raise interest rates by 0.5% last week. The Fed is attempting to cool off inflation, but fears are rising that the central bank is playing catch-up and its aggressive rate hikes could cause a recession.</p><h2>So what</h2><p>There was no specific financial news coming from Nvidia to cause the stock to fall so far in a single day. However, last week news broke that the Securities and Exchange Commission (SEC) will collect a $5.5 million fine from the company. The fine relates to the SEC&#39;s claim that Nvidia failed to fully disclose how much it was being affected by the cryptocurrency boom and bust in 2018 and 2019. Graphics processing units (GPUs) are used to mine some cryptocurrencies like <b>Bitcoin </b>and <b>Ethereum</b>.</p><p>With a market cap of over $430 billion, $5.5 million in fines is nothing for Nvidia, but perhaps some anxiety that the SEC wields such power over publicly traded companies is contributing to the stock&#39;s underperformance today. Additionally, some reports are emerging that demand for video game GPUs (the same ones often favored by crypto miners) is starting to wane. That follows reports from some analysts that consumer spending on devices is beginning to slow after two years of a pandemic-fueled shopping spree on all things consumer tech.</p><p>Over 40% of Nvidia&#39;s revenue is categorized under video gaming-related sales.</p><h2>Now what</h2><p>Nvidia will report first-quarter financial results on May 25. During its last earnings update a couple of months ago, CEO Jensen Huang and company said to expect year-over-year revenue growth of 43%. After a steep sell-off in the last six months, Nvidia stock now trades for 54 times trailing-12-month free cash flow. This is no cheap stock, but given its torrid pace of growth and massive secular trends like artificial intelligence filling its sails, now could be a great time to buy for long-term investors (those who plan to hold for at least a few years).</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>Why Nvidia Stock Fell Over 9% Today</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\">\nWhy Nvidia Stock Fell Over 9% Today\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-10 10:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/05/09/why-nvidia-stock-fell-nearly-7-today/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What happenedShares of Nvidia were down 9.24% today. The sharp move down is in tandem with widespread pain in the stock market. The Nasdaq Composite Index was down 4.29%.Another wave of selling ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/05/09/why-nvidia-stock-fell-nearly-7-today/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.fool.com/investing/2022/05/09/why-nvidia-stock-fell-nearly-7-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2234857462","content_text":"What happenedShares of Nvidia were down 9.24% today. The sharp move down is in tandem with widespread pain in the stock market. The Nasdaq Composite Index was down 4.29%.Another wave of selling followed the Federal Reserve's decision to raise interest rates by 0.5% last week. The Fed is attempting to cool off inflation, but fears are rising that the central bank is playing catch-up and its aggressive rate hikes could cause a recession.So whatThere was no specific financial news coming from Nvidia to cause the stock to fall so far in a single day. However, last week news broke that the Securities and Exchange Commission (SEC) will collect a $5.5 million fine from the company. The fine relates to the SEC's claim that Nvidia failed to fully disclose how much it was being affected by the cryptocurrency boom and bust in 2018 and 2019. Graphics processing units (GPUs) are used to mine some cryptocurrencies like Bitcoin and Ethereum.With a market cap of over $430 billion, $5.5 million in fines is nothing for Nvidia, but perhaps some anxiety that the SEC wields such power over publicly traded companies is contributing to the stock's underperformance today. Additionally, some reports are emerging that demand for video game GPUs (the same ones often favored by crypto miners) is starting to wane. That follows reports from some analysts that consumer spending on devices is beginning to slow after two years of a pandemic-fueled shopping spree on all things consumer tech.Over 40% of Nvidia's revenue is categorized under video gaming-related sales.Now whatNvidia will report first-quarter financial results on May 25. During its last earnings update a couple of months ago, CEO Jensen Huang and company said to expect year-over-year revenue growth of 43%. After a steep sell-off in the last six months, Nvidia stock now trades for 54 times trailing-12-month free cash flow. This is no cheap stock, but given its torrid pace of growth and massive secular trends like artificial intelligence filling its sails, now could be a great time to buy for long-term investors (those who plan to hold for at least a few years).","news_type":1},"isVote":1,"tweetType":1,"viewCount":200,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9061202707,"gmtCreate":1651625385416,"gmtModify":1676534937967,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"ready for more","listText":"ready for more","text":"ready for more","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9061202707","repostId":"1105560074","repostType":4,"repost":{"id":"1105560074","pubTimestamp":1651623449,"share":"https://ttm.financial/m/news/1105560074?lang=&edition=fundamental","pubTime":"2022-05-04 08:17","market":"us","language":"en","title":"Dear TSLA Stock Fans, Mark Your Calendars for Aug. 4","url":"https://stock-news.laohu8.com/highlight/detail?id=1105560074","media":"InvestorPlace","summary":"Tesla has big news for investors today. Since rumors of a proposed TSLA stock splitfirst brokein March, many have been waiting for confirmation. Now, theelectric vehicle leader has announced that its 2022 Annual Shareholder Meeting will take place on Aug. 4 in Austin, Texas.Today, TSLA stock is rising following the news. This morning, Tesla announced both the date and location for the shareholder meeting. At the meeting, shareholders will vote on the potential stock split. Although the vote is e","content":"<html><head></head><body><p><b>Tesla</b>(NASDAQ:<b><u>TSLA</u></b>) has big news for investors today. Since rumors of a proposed TSLA stock splitfirst brokein March, many have been waiting for confirmation. Now, the electric vehicle(EV) leader has announced that its 2022 Annual Shareholder Meeting will take place on Aug. 4 in Austin, Texas.</p><p>Today, TSLA stock is rising following the news. This morning, Tesla announced both the date and location for the shareholder meeting. At the meeting, shareholders will vote on the potential stock split. Although the vote is expected to swing in favor of the split, the split cannot proceed without majority shareholder approval.</p><blockquote>Tesla&#39;s 2022 Annual Shareholder Meeting will be on August 4th in Austin, TX. Thank you for your support of Tesla!</blockquote><blockquote>— Tesla (@Tesla)May 3, 2022</blockquote><p>Of course, this Tuesday has been turbulent for many stocks, but TSLA is rising nevertheless. Shares shot up some 2% and, despite a dip, have since rebounded. The stock is up by about 1% today.</p><p>What’s Happening with TSLA Stock?</p><p>It’s not surprising that TSLA stock is rising on this stock split update. Last time Teslaenacted a stock split, shares soared more than 80%. In the ensuing year, its price more than doubled. All told, the first split was excellent for both investors and the company.</p><p>Now, Tesla wants to split the stock again — and shareholders have the power to make it happen. So far, there’s little reason to expect a resounding “no” on the split, either. What’s more, while another doubling in price is not guaranteed, the second stock split should still help shares rise. Companies typically split their stock to make it more accessible to small-scale investors. Given the high levels at which TSLA stock currently trades, opening shares up to new group of investors should prove very beneficial.</p><p>Wall Street often regards stock splits as signals that management has positive expectations. To that end, CEO Elon Musk has made it clear he has no intentions of slowing Tesla down.</p><p>The company hasn’t released many other details about the upcoming stock split. As we’re seeing today, though, even small updates can generate buzz.</p><p>What It Means</p><p>While investors wait for more details on the Tesla stock split, shares can be expected to continue rising. Stock splits have worked well for other high-growth tech stocks; <b>Alphabet</b> (NASDAQ:<b><u>GOOG</u></b>, NASDAQ:<b><u>GOOGL</u></b>) and <b>Amazon</b> (NASDAQ:<b><u>AMZN</u></b>) both enacted splits in the past year, leading to significant gains.</p><p>Now, Tesla is following in their footsteps, also standing to benefit. The upcoming TSLA stock split will likely go through — and when it does, investors will be happy with the results. In the months leading up to the shareholder meeting, investors can also expect TSLA stock to climb in anticipation.</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>Dear TSLA Stock Fans, Mark Your Calendars for Aug. 4</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\">\nDear TSLA Stock Fans, Mark Your Calendars for Aug. 4\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-04 08:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/05/dear-tsla-stock-fans-mark-your-calendars-for-aug-4/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla(NASDAQ:TSLA) has big news for investors today. Since rumors of a proposed TSLA stock splitfirst brokein March, many have been waiting for confirmation. Now, the electric vehicle(EV) leader has ...</p>\n\n<a href=\"https://investorplace.com/2022/05/dear-tsla-stock-fans-mark-your-calendars-for-aug-4/\">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://investorplace.com/2022/05/dear-tsla-stock-fans-mark-your-calendars-for-aug-4/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105560074","content_text":"Tesla(NASDAQ:TSLA) has big news for investors today. Since rumors of a proposed TSLA stock splitfirst brokein March, many have been waiting for confirmation. Now, the electric vehicle(EV) leader has announced that its 2022 Annual Shareholder Meeting will take place on Aug. 4 in Austin, Texas.Today, TSLA stock is rising following the news. This morning, Tesla announced both the date and location for the shareholder meeting. At the meeting, shareholders will vote on the potential stock split. Although the vote is expected to swing in favor of the split, the split cannot proceed without majority shareholder approval.Tesla's 2022 Annual Shareholder Meeting will be on August 4th in Austin, TX. Thank you for your support of Tesla!— Tesla (@Tesla)May 3, 2022Of course, this Tuesday has been turbulent for many stocks, but TSLA is rising nevertheless. Shares shot up some 2% and, despite a dip, have since rebounded. The stock is up by about 1% today.What’s Happening with TSLA Stock?It’s not surprising that TSLA stock is rising on this stock split update. Last time Teslaenacted a stock split, shares soared more than 80%. In the ensuing year, its price more than doubled. All told, the first split was excellent for both investors and the company.Now, Tesla wants to split the stock again — and shareholders have the power to make it happen. So far, there’s little reason to expect a resounding “no” on the split, either. What’s more, while another doubling in price is not guaranteed, the second stock split should still help shares rise. Companies typically split their stock to make it more accessible to small-scale investors. Given the high levels at which TSLA stock currently trades, opening shares up to new group of investors should prove very beneficial.Wall Street often regards stock splits as signals that management has positive expectations. To that end, CEO Elon Musk has made it clear he has no intentions of slowing Tesla down.The company hasn’t released many other details about the upcoming stock split. As we’re seeing today, though, even small updates can generate buzz.What It MeansWhile investors wait for more details on the Tesla stock split, shares can be expected to continue rising. Stock splits have worked well for other high-growth tech stocks; Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN) both enacted splits in the past year, leading to significant gains.Now, Tesla is following in their footsteps, also standing to benefit. The upcoming TSLA stock split will likely go through — and when it does, investors will be happy with the results. In the months leading up to the shareholder meeting, investors can also expect TSLA stock to climb in anticipation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":281,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9069032874,"gmtCreate":1651200743519,"gmtModify":1676534869897,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"gains wiped out","listText":"gains wiped out","text":"gains wiped out","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9069032874","repostId":"2231647872","repostType":4,"repost":{"id":"2231647872","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":1651186200,"share":"https://ttm.financial/m/news/2231647872?lang=&edition=fundamental","pubTime":"2022-04-29 06:50","market":"us","language":"en","title":"Apple Stock Swings to a Loss After Executives Warn of Billions in Added Costs","url":"https://stock-news.laohu8.com/highlight/detail?id=2231647872","media":"Tiger Newspress","summary":"Apple expects pressure from supply-chain woes to be 'substantially larger' in current quarter than t","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/AAPL\">Apple</a> expects pressure from supply-chain woes to be &#39;substantially larger&#39; in current quarter than they were in the prior one, when the iPhone manufacturer recorded $25 billion in profit.</p><p>Apple Inc. topped earnings expectations and set a new record for March-quarter revenue to start 2022, but executives expect to see steeper pressure and billions in additional costs from challenges in the current period, sending shares lower in after-hours trading.</p><p>&#34;Supply constraints caused by COVID-related disruptions and industry-wide silicon shortages are impacting our ability to meet customer demand for our products,&#34; Chief Financial Officer Luca Maestri said on a conference call related to Apple&#39;s earnings report Thursday.</p><p>The company anticipates that it will see $4 billion to $8 billion in negative impacts related to the constraints in its June quarter, which Maestri added was &#34;substantially larger&#34; than what Apple experienced during its March quarter.</p><p>Shares were off 2.3% in after-hours trading after originally moving higher on strong results. Apple beat expectations on both earnings and revenue thanks to particular strength in its iPhone and Mac categories.<img src=\"https://static.tigerbbs.com/a3a87b7ee76294cf389f6f2c1a4be80a\" tg-width=\"958\" tg-height=\"669\" referrerpolicy=\"no-referrer\"/></p><p>The company posted fiscal second-quarter net income of $25 billion, or $1.52 a share, up from $23.6 billion, or $1.40 a share, in the year-earlier quarter. Analysts tracked by FactSet were anticipating $1.42 in earnings per share. Apple&#39;s revenue rose to $97.3 billion from $89.6 billion, while analysts had been expecting $94.0 billion.</p><p>Apple generated $50.6 billion in revenue from its iPhone business, up from $47.9 billion a year before and ahead of the FactSet consensus, which was for $48.4 billion.</p><p>The company saw $7.6 billion in iPad revenue, down from $7.8 billion a year prior, as well as $10.4 billion in Mac revenue, which was up from $9.1 billion. The FactSet consensus was for revenue of $7.2 billion from iPads and $9.1 billion from the Mac.</p><p>Cook noted that Apple was &#34;continuing to see such a strong demand for [the] iPad even while navigating the significant supply constraints we predicted at the start of the quarter.&#34;</p><p>Apple&#39;s wearables, home, and accessories category brought in $8.8 billion in revenue, up from $7.8 billion a year earlier, while analysts had been looking for $8.9 billion.</p><p>The company&#39;s services business added $19.8 billion, compared with $16.9 billion a year before. The FactSet consensus was for $19.7 billion.</p><p>Apple executives announced alongside their latest results that they are adding $90 billion to their stock-repurchase authorization, while also boosting the quarterly dividend by 5% to 23 cents a share. The dividend will be payable May 12 to shareholders of record as of the end of business on May 9.</p><p>Apple typically provides updates on its capital-return plans with its March-quarter report, and it has set out to become net-cash neutral over time. Asked if Apple would consider doing a large acquisition instead of merely drawing down its cash balance through dividends and buybacks, Cook replied that Apple &#34;would only acquire something that were strategic&#34; but that the company is &#34;always looking.&#34;</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Stock Swings to a Loss After Executives Warn of Billions in Added Costs</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\">\nApple Stock Swings to a Loss After Executives Warn of Billions in Added Costs\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\">2022-04-29 06:50</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/AAPL\">Apple</a> expects pressure from supply-chain woes to be &#39;substantially larger&#39; in current quarter than they were in the prior one, when the iPhone manufacturer recorded $25 billion in profit.</p><p>Apple Inc. topped earnings expectations and set a new record for March-quarter revenue to start 2022, but executives expect to see steeper pressure and billions in additional costs from challenges in the current period, sending shares lower in after-hours trading.</p><p>&#34;Supply constraints caused by COVID-related disruptions and industry-wide silicon shortages are impacting our ability to meet customer demand for our products,&#34; Chief Financial Officer Luca Maestri said on a conference call related to Apple&#39;s earnings report Thursday.</p><p>The company anticipates that it will see $4 billion to $8 billion in negative impacts related to the constraints in its June quarter, which Maestri added was &#34;substantially larger&#34; than what Apple experienced during its March quarter.</p><p>Shares were off 2.3% in after-hours trading after originally moving higher on strong results. Apple beat expectations on both earnings and revenue thanks to particular strength in its iPhone and Mac categories.<img src=\"https://static.tigerbbs.com/a3a87b7ee76294cf389f6f2c1a4be80a\" tg-width=\"958\" tg-height=\"669\" referrerpolicy=\"no-referrer\"/></p><p>The company posted fiscal second-quarter net income of $25 billion, or $1.52 a share, up from $23.6 billion, or $1.40 a share, in the year-earlier quarter. Analysts tracked by FactSet were anticipating $1.42 in earnings per share. Apple&#39;s revenue rose to $97.3 billion from $89.6 billion, while analysts had been expecting $94.0 billion.</p><p>Apple generated $50.6 billion in revenue from its iPhone business, up from $47.9 billion a year before and ahead of the FactSet consensus, which was for $48.4 billion.</p><p>The company saw $7.6 billion in iPad revenue, down from $7.8 billion a year prior, as well as $10.4 billion in Mac revenue, which was up from $9.1 billion. The FactSet consensus was for revenue of $7.2 billion from iPads and $9.1 billion from the Mac.</p><p>Cook noted that Apple was &#34;continuing to see such a strong demand for [the] iPad even while navigating the significant supply constraints we predicted at the start of the quarter.&#34;</p><p>Apple&#39;s wearables, home, and accessories category brought in $8.8 billion in revenue, up from $7.8 billion a year earlier, while analysts had been looking for $8.9 billion.</p><p>The company&#39;s services business added $19.8 billion, compared with $16.9 billion a year before. The FactSet consensus was for $19.7 billion.</p><p>Apple executives announced alongside their latest results that they are adding $90 billion to their stock-repurchase authorization, while also boosting the quarterly dividend by 5% to 23 cents a share. The dividend will be payable May 12 to shareholders of record as of the end of business on May 9.</p><p>Apple typically provides updates on its capital-return plans with its March-quarter report, and it has set out to become net-cash neutral over time. Asked if Apple would consider doing a large acquisition instead of merely drawing down its cash balance through dividends and buybacks, Cook replied that Apple &#34;would only acquire something that were strategic&#34; but that the company is &#34;always looking.&#34;</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4501":"段永平概念","BK4527":"明星科技股","BK4559":"巴菲特持仓","BK4575":"芯片概念","BK4550":"红杉资本持仓","BK4576":"AR","BK4571":"数字音乐概念","AAPL":"苹果","BK4505":"高瓴资本持仓","BK4512":"苹果概念","BK4554":"元宇宙及AR概念","BK4581":"高盛持仓","BK4515":"5G概念","BK4532":"文艺复兴科技持仓","BK4553":"喜马拉雅资本持仓","BK4573":"虚拟现实","BK4507":"流媒体概念","BK4534":"瑞士信贷持仓","BK4574":"无人驾驶","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","BK4579":"人工智能"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2231647872","content_text":"Apple expects pressure from supply-chain woes to be 'substantially larger' in current quarter than they were in the prior one, when the iPhone manufacturer recorded $25 billion in profit.Apple Inc. topped earnings expectations and set a new record for March-quarter revenue to start 2022, but executives expect to see steeper pressure and billions in additional costs from challenges in the current period, sending shares lower in after-hours trading.\"Supply constraints caused by COVID-related disruptions and industry-wide silicon shortages are impacting our ability to meet customer demand for our products,\" Chief Financial Officer Luca Maestri said on a conference call related to Apple's earnings report Thursday.The company anticipates that it will see $4 billion to $8 billion in negative impacts related to the constraints in its June quarter, which Maestri added was \"substantially larger\" than what Apple experienced during its March quarter.Shares were off 2.3% in after-hours trading after originally moving higher on strong results. Apple beat expectations on both earnings and revenue thanks to particular strength in its iPhone and Mac categories.The company posted fiscal second-quarter net income of $25 billion, or $1.52 a share, up from $23.6 billion, or $1.40 a share, in the year-earlier quarter. Analysts tracked by FactSet were anticipating $1.42 in earnings per share. Apple's revenue rose to $97.3 billion from $89.6 billion, while analysts had been expecting $94.0 billion.Apple generated $50.6 billion in revenue from its iPhone business, up from $47.9 billion a year before and ahead of the FactSet consensus, which was for $48.4 billion.The company saw $7.6 billion in iPad revenue, down from $7.8 billion a year prior, as well as $10.4 billion in Mac revenue, which was up from $9.1 billion. The FactSet consensus was for revenue of $7.2 billion from iPads and $9.1 billion from the Mac.Cook noted that Apple was \"continuing to see such a strong demand for [the] iPad even while navigating the significant supply constraints we predicted at the start of the quarter.\"Apple's wearables, home, and accessories category brought in $8.8 billion in revenue, up from $7.8 billion a year earlier, while analysts had been looking for $8.9 billion.The company's services business added $19.8 billion, compared with $16.9 billion a year before. The FactSet consensus was for $19.7 billion.Apple executives announced alongside their latest results that they are adding $90 billion to their stock-repurchase authorization, while also boosting the quarterly dividend by 5% to 23 cents a share. The dividend will be payable May 12 to shareholders of record as of the end of business on May 9.Apple typically provides updates on its capital-return plans with its March-quarter report, and it has set out to become net-cash neutral over time. Asked if Apple would consider doing a large acquisition instead of merely drawing down its cash balance through dividends and buybacks, Cook replied that Apple \"would only acquire something that were strategic\" but that the company is \"always looking.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9087345562,"gmtCreate":1650963673811,"gmtModify":1676534823843,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"global bearish outlook will drag <a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$</a>down just like the rest of the blue chips","listText":"global bearish outlook will drag <a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$</a>down just like the rest of the blue chips","text":"global bearish outlook will drag $Apple(AAPL)$down just like the rest of the blue chips","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9087345562","repostId":"1154087680","repostType":2,"repost":{"id":"1154087680","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":1650435720,"share":"https://ttm.financial/m/news/1154087680?lang=&edition=fundamental","pubTime":"2022-04-20 14:22","market":"us","language":"en","title":"Apple Earnings Are Coming. Here’s What to Watch.","url":"https://stock-news.laohu8.com/highlight/detail?id=1154087680","media":"Tiger Newspress","summary":"Apple will release its earnings report for the fiscal second quarter of 2022 on Thursday, April 28. ","content":"<html><head></head><body><p>Apple will release its earnings report for the fiscal second quarter of 2022 on Thursday, April 28. As usual, the company will release its Q2 2022 earnings report then hold a conference call with investors and analysts to provide more details about the results.</p><p>Apple shares have fared better than peers this year, falling 5.7% versus the 12.9% drop of the tech-heavy Nasdaq 100 index.Apple stock nearly touched the $3 trillion mark again as recently as March 29. But since then, the share price has tumbled almost $14 apiece very quickly, to around $165. Apple is now 9% below all-time highs, a step away from entering correction territory.</p><p><b>Last</b> <b>Quarter</b> <b>Review</b></p><p>Last quarter, Apple reported a revenue record of $123.95 billion, up 11% year over year. The company reported profit of $34.6 billion and earnings per share of $2.10. It’s important to note that Apple itself had warned that it would be negatively impacted by supply constraints during the holiday quarter, but it appears to have weathered that storm quite well.</p><p>Apple did not provide any official guidance for Q2 2022 due to uncertainty caused by manufacturing disruptions and the COVID-19 pandemic. However, Apple CFO Luca Maestri said in January that the“very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings.”</p><p><b>Apple Faces Tough Comps</b></p><p>It will be hard for CEO Tim Cook and his team to impress analysts and investors this time. This is the case because Apple will face very tough comparisons against fiscal 2021 results that were outstanding. See quarterly revenue growth chart below.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/01112f7146cf81565b643db0a14d6cbc\" tg-width=\"1047\" tg-height=\"722\" referrerpolicy=\"no-referrer\"/><span>Apple&#39;s total revenue growth. DM Martins Research</span></p><p>The nearly 54% revenue increase delivered this time last year was driven, first and foremost, by 5G-equipped iPhones that were introduced late in 2020. Due to delays in the launch of the new device, quite a bit of smartphone shipments were shifted from the holiday period to fiscal Q2.</p><p>The story did not end there, however. Mac and iPad sales increased by an impressive 70%-plus each. Both product categories benefited from the tail end of the pandemic-era lockdowns, as well as a hybrid-style return to office that boosted demand for PCs and tablets.</p><p>None of the factors above will be in place this time—although smartphones may still see strength coming from a well-received iPhone 13 and the recent launch of the 5G version of the less expensive iPhone SE.</p><p><b>Stock Buybacks</b></p><p>In a note published on April 12, Citigroup Inc. analyst Jim Suva estimated that the iPhone maker might announce a buyback of $80 billion to $90 billion, while also increasing its dividend by 5% to 10%. All eyes will be on its second-quarter results due after the closing bell on April 28.</p><p>With their coffers filling fast, companies including Alphabet Inc. and Microsoft Corp. have been looking for ways to employ excess cash. Apple’s repurchases have totalled $274.5 billion, including $20.4 billion in the December quarter alone. Yet the company still has cash of more than $200 billion on the balance sheet, and with authorization to purchase up to $315 billion of stock, has scope to do a lot more.</p><p>“We expect Apple to add as much as $300 billion to share repurchases following 2Q results as availability wanes in its existing program,”Robert Schiffman, Bloomberg Intelligence senior credit analyst, wrote in a report last week, noting that the company historically reloads the repurchase program following the second quarter.</p><p>The Cupertino-California-based company had increased its buyback program by $90 billion and hiked its dividend by 7% last April, along with its announcement of second-quarter results.</p><p><b>What Wall Street Expects to See Instead</b></p><p>Only because the first calendar quarter of 2022 will not be as good as last year’s, it does not mean that Apple’s results will be disastrous.</p><p>According to Yahoo Finance, analysts believe that revenues in fiscal Q2 will reach $94 billion, which would represent a respectable growth pace of 5% YOY. Not impressed? The annualized two-year growth rate, in this case, would be a sizable 27%.</p><p>On earnings per share, the consensus estimate is for $1.43. The bottom-line growth here would be a much tamer 2% to 3% YOY, but an astounding 50% compounded over the past two years.</p><p>Clearly, Apple is expected to perform well in fiscal Q2 regardless of whether the COVID-19 consumption tailwinds have largely subsided. However, the pandemic may have a negative impact on results due to supply chain constraints that could limit product availability and pressure margins.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Earnings Are Coming. Here’s What to Watch.</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\">\nApple Earnings Are Coming. Here’s What to Watch.\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\">2022-04-20 14:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Apple will release its earnings report for the fiscal second quarter of 2022 on Thursday, April 28. As usual, the company will release its Q2 2022 earnings report then hold a conference call with investors and analysts to provide more details about the results.</p><p>Apple shares have fared better than peers this year, falling 5.7% versus the 12.9% drop of the tech-heavy Nasdaq 100 index.Apple stock nearly touched the $3 trillion mark again as recently as March 29. But since then, the share price has tumbled almost $14 apiece very quickly, to around $165. Apple is now 9% below all-time highs, a step away from entering correction territory.</p><p><b>Last</b> <b>Quarter</b> <b>Review</b></p><p>Last quarter, Apple reported a revenue record of $123.95 billion, up 11% year over year. The company reported profit of $34.6 billion and earnings per share of $2.10. It’s important to note that Apple itself had warned that it would be negatively impacted by supply constraints during the holiday quarter, but it appears to have weathered that storm quite well.</p><p>Apple did not provide any official guidance for Q2 2022 due to uncertainty caused by manufacturing disruptions and the COVID-19 pandemic. However, Apple CFO Luca Maestri said in January that the“very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings.”</p><p><b>Apple Faces Tough Comps</b></p><p>It will be hard for CEO Tim Cook and his team to impress analysts and investors this time. This is the case because Apple will face very tough comparisons against fiscal 2021 results that were outstanding. See quarterly revenue growth chart below.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/01112f7146cf81565b643db0a14d6cbc\" tg-width=\"1047\" tg-height=\"722\" referrerpolicy=\"no-referrer\"/><span>Apple&#39;s total revenue growth. DM Martins Research</span></p><p>The nearly 54% revenue increase delivered this time last year was driven, first and foremost, by 5G-equipped iPhones that were introduced late in 2020. Due to delays in the launch of the new device, quite a bit of smartphone shipments were shifted from the holiday period to fiscal Q2.</p><p>The story did not end there, however. Mac and iPad sales increased by an impressive 70%-plus each. Both product categories benefited from the tail end of the pandemic-era lockdowns, as well as a hybrid-style return to office that boosted demand for PCs and tablets.</p><p>None of the factors above will be in place this time—although smartphones may still see strength coming from a well-received iPhone 13 and the recent launch of the 5G version of the less expensive iPhone SE.</p><p><b>Stock Buybacks</b></p><p>In a note published on April 12, Citigroup Inc. analyst Jim Suva estimated that the iPhone maker might announce a buyback of $80 billion to $90 billion, while also increasing its dividend by 5% to 10%. All eyes will be on its second-quarter results due after the closing bell on April 28.</p><p>With their coffers filling fast, companies including Alphabet Inc. and Microsoft Corp. have been looking for ways to employ excess cash. Apple’s repurchases have totalled $274.5 billion, including $20.4 billion in the December quarter alone. Yet the company still has cash of more than $200 billion on the balance sheet, and with authorization to purchase up to $315 billion of stock, has scope to do a lot more.</p><p>“We expect Apple to add as much as $300 billion to share repurchases following 2Q results as availability wanes in its existing program,”Robert Schiffman, Bloomberg Intelligence senior credit analyst, wrote in a report last week, noting that the company historically reloads the repurchase program following the second quarter.</p><p>The Cupertino-California-based company had increased its buyback program by $90 billion and hiked its dividend by 7% last April, along with its announcement of second-quarter results.</p><p><b>What Wall Street Expects to See Instead</b></p><p>Only because the first calendar quarter of 2022 will not be as good as last year’s, it does not mean that Apple’s results will be disastrous.</p><p>According to Yahoo Finance, analysts believe that revenues in fiscal Q2 will reach $94 billion, which would represent a respectable growth pace of 5% YOY. Not impressed? The annualized two-year growth rate, in this case, would be a sizable 27%.</p><p>On earnings per share, the consensus estimate is for $1.43. The bottom-line growth here would be a much tamer 2% to 3% YOY, but an astounding 50% compounded over the past two years.</p><p>Clearly, Apple is expected to perform well in fiscal Q2 regardless of whether the COVID-19 consumption tailwinds have largely subsided. However, the pandemic may have a negative impact on results due to supply chain constraints that could limit product availability and pressure margins.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154087680","content_text":"Apple will release its earnings report for the fiscal second quarter of 2022 on Thursday, April 28. As usual, the company will release its Q2 2022 earnings report then hold a conference call with investors and analysts to provide more details about the results.Apple shares have fared better than peers this year, falling 5.7% versus the 12.9% drop of the tech-heavy Nasdaq 100 index.Apple stock nearly touched the $3 trillion mark again as recently as March 29. But since then, the share price has tumbled almost $14 apiece very quickly, to around $165. Apple is now 9% below all-time highs, a step away from entering correction territory.Last Quarter ReviewLast quarter, Apple reported a revenue record of $123.95 billion, up 11% year over year. The company reported profit of $34.6 billion and earnings per share of $2.10. It’s important to note that Apple itself had warned that it would be negatively impacted by supply constraints during the holiday quarter, but it appears to have weathered that storm quite well.Apple did not provide any official guidance for Q2 2022 due to uncertainty caused by manufacturing disruptions and the COVID-19 pandemic. However, Apple CFO Luca Maestri said in January that the“very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings.”Apple Faces Tough CompsIt will be hard for CEO Tim Cook and his team to impress analysts and investors this time. This is the case because Apple will face very tough comparisons against fiscal 2021 results that were outstanding. See quarterly revenue growth chart below.Apple's total revenue growth. DM Martins ResearchThe nearly 54% revenue increase delivered this time last year was driven, first and foremost, by 5G-equipped iPhones that were introduced late in 2020. Due to delays in the launch of the new device, quite a bit of smartphone shipments were shifted from the holiday period to fiscal Q2.The story did not end there, however. Mac and iPad sales increased by an impressive 70%-plus each. Both product categories benefited from the tail end of the pandemic-era lockdowns, as well as a hybrid-style return to office that boosted demand for PCs and tablets.None of the factors above will be in place this time—although smartphones may still see strength coming from a well-received iPhone 13 and the recent launch of the 5G version of the less expensive iPhone SE.Stock BuybacksIn a note published on April 12, Citigroup Inc. analyst Jim Suva estimated that the iPhone maker might announce a buyback of $80 billion to $90 billion, while also increasing its dividend by 5% to 10%. All eyes will be on its second-quarter results due after the closing bell on April 28.With their coffers filling fast, companies including Alphabet Inc. and Microsoft Corp. have been looking for ways to employ excess cash. Apple’s repurchases have totalled $274.5 billion, including $20.4 billion in the December quarter alone. Yet the company still has cash of more than $200 billion on the balance sheet, and with authorization to purchase up to $315 billion of stock, has scope to do a lot more.“We expect Apple to add as much as $300 billion to share repurchases following 2Q results as availability wanes in its existing program,”Robert Schiffman, Bloomberg Intelligence senior credit analyst, wrote in a report last week, noting that the company historically reloads the repurchase program following the second quarter.The Cupertino-California-based company had increased its buyback program by $90 billion and hiked its dividend by 7% last April, along with its announcement of second-quarter results.What Wall Street Expects to See InsteadOnly because the first calendar quarter of 2022 will not be as good as last year’s, it does not mean that Apple’s results will be disastrous.According to Yahoo Finance, analysts believe that revenues in fiscal Q2 will reach $94 billion, which would represent a respectable growth pace of 5% YOY. Not impressed? The annualized two-year growth rate, in this case, would be a sizable 27%.On earnings per share, the consensus estimate is for $1.43. The bottom-line growth here would be a much tamer 2% to 3% YOY, but an astounding 50% compounded over the past two years.Clearly, Apple is expected to perform well in fiscal Q2 regardless of whether the COVID-19 consumption tailwinds have largely subsided. However, the pandemic may have a negative impact on results due to supply chain constraints that could limit product availability and pressure margins.","news_type":1},"isVote":1,"tweetType":1,"viewCount":176,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9080092264,"gmtCreate":1649816339684,"gmtModify":1676534582795,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"awesome event!","listText":"awesome event!","text":"awesome event!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9080092264","repostId":"9016476123","repostType":1,"repost":{"id":9016476123,"gmtCreate":1649229403658,"gmtModify":1676534474180,"author":{"id":"3527667667103859","authorId":"3527667667103859","authorIdStr":"3527667667103859","name":"TigerEvents","avatar":"https://community-static.tradeup.com/news/c266ef25181ace18bec1262357bbe1a8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667667103859"},"themes":[],"title":"🏆【GAME】Hunting Eggs for Extra Saving!","htmlText":"Tiger has prepared some Easter gifts for you, please&nbsp;<a href=\"https://www.tigerbrokers.com.sg/activity/market/2022/easter/\" target=\"_blank\">click&nbsp;here</a>&nbsp;to check them out!Easter can still be a bonus-boosting. Come and find the eggs in our Easter game to open the surprise! Each game contains 3 rounds, the more eggs you catch, the higher the points you can get. Game points can be redeemed for various rewards, including different value stock vouchers worth up to USD 1,000 are waiting for you! Moreover, catching special eggs can get extra points and chances to crack open for some wonderful Easter treats.There are too many hidden surprises to find, oops, the game attempts run out too fast. Don't worry, complete different tasks to earn more game attempts. Also, invite your frien","listText":"Tiger has prepared some Easter gifts for you, please&nbsp;<a href=\"https://www.tigerbrokers.com.sg/activity/market/2022/easter/\" target=\"_blank\">click&nbsp;here</a>&nbsp;to check them out!Easter can still be a bonus-boosting. Come and find the eggs in our Easter game to open the surprise! Each game contains 3 rounds, the more eggs you catch, the higher the points you can get. Game points can be redeemed for various rewards, including different value stock vouchers worth up to USD 1,000 are waiting for you! Moreover, catching special eggs can get extra points and chances to crack open for some wonderful Easter treats.There are too many hidden surprises to find, oops, the game attempts run out too fast. Don't worry, complete different tasks to earn more game attempts. Also, invite your frien","text":"Tiger has prepared some Easter gifts for you, please click here to check them out!Easter can still be a bonus-boosting. Come and find the eggs in our Easter game to open the surprise! Each game contains 3 rounds, the more eggs you catch, the higher the points you can get. Game points can be redeemed for various rewards, including different value stock vouchers worth up to USD 1,000 are waiting for you! Moreover, catching special eggs can get extra points and chances to crack open for some wonderful Easter treats.There are too many hidden surprises to find, oops, the game attempts run out too fast. Don't worry, complete different tasks to earn more game attempts. Also, invite your frien","images":[{"img":"https://community-static.tradeup.com/news/15b435c0d10e0e89ad3e06b7bbd04830","width":"2251","height":"1334"},{"img":"https://community-static.tradeup.com/news/ff9640a9df2f24446e07b7a9b658cb4b","width":"1200","height":"630"},{"img":"https://community-static.tradeup.com/news/795038848b7c7b1d7dda27d92b580946","width":"1656","height":"948"}],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9016476123","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":3,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":215,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9012142866,"gmtCreate":1649296780085,"gmtModify":1676534487570,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"interesting","listText":"interesting","text":"interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9012142866","repostId":"1178865052","repostType":4,"repost":{"id":"1178865052","pubTimestamp":1649295975,"share":"https://ttm.financial/m/news/1178865052?lang=&edition=fundamental","pubTime":"2022-04-07 09:46","market":"us","language":"en","title":"Alibaba, SoftBank Score 2022’s First IPO Windfall With GoTo","url":"https://stock-news.laohu8.com/highlight/detail?id=1178865052","media":"Bloomberg","summary":"GoTo Group, whose business spans ride-hailing, e-commerce and fintech, became one of the world’s big","content":"<html><head></head><body><p>GoTo Group, whose business spans ride-hailing, e-commerce and fintech, became one of the world’s biggest listings this year, giving a much needed boost to early backers including China’s Alibaba Group Holding Ltd. and SoftBank Group Corp.’s Vision Fund.</p><p>The Jakarta-based company raised $1.1 billion last week, meaning the value of the two investors’ stakes will be almost $5 billion combined following the share sale. That marks their first big windfall from an initial public offering this year after their stocks were both battered in past months.</p><p>For GoTo’s top executives, the success of taking the company public isn’t translating into the type of riches recently associated with Asian IPOs.</p><p>Chief Executive Officer Andre Soelistyo will have a stake valued at $235 million after the listing, while the holdings of Kevin Aluwi and William Tanuwijaya, who co-founded the startups that later merged to produce Indonesia’s giant, will be worth $213 million and $494 million, respectively, according to Bloomberg calculations based on the IPO prospectus.</p><p>It’s not uncommon that early backers see a huge payday when a startup goes public -- that’s the incentive for taking the risk to invest. What’s notable in this case is how much the founders’ ownership got diluted in the various funding rounds that brought in billions of dollars.</p><p>“In the mind of a startup, you need to burn cash to grow and to acquire users,” said Nathan Naidu, an analyst with Bloomberg Intelligence. “So I don’t think the focus for the founders is on wealth. It’s for getting the cash to grow the company.”</p><p>While Tanuwijaya, Soelistyo and Aluwi retain 26% voting power after the share sale, their direct ownership in the internet giant is tiny: Tanuwijaya has a 1.77% stake assuming over-allotment, Soelistyo’s is 0.84% and Aluwi’s 0.77%. Compare that with 8.71% for SoftBank’s Vision Fund and 8.84% for Alibaba.</p><p>GoTo declined to comment on the value of stakes held by its executives.</p><p>But the fund that holds an even bigger proportion of the company is one that allocates stock options to employees in the coming years: The GoTo Peopleverse Fund will have a 9.03% stake after the listing. The firm is also giving away more than $20 million worth of shares to long-serving drivers, part of a broader program that includes merchants, consumers and its workers.</p><p>“It’s about the sense of ownership and the badge that they’re part of the big family of GoTo,” Soelistyo said in an interview, referring to the share program. “The best way to sum this up is through one of our internal values, which we call ‘it’s not about you.’ It’s about us. It’s about the communities that we support that have made our success happen.”</p><p>GoTo is the result of last year’s merger between Indonesia’s two most-valuable internet startups -- ride-hailing company Gojek and e-commerce firm Tokopedia -- to get more firepower against rivals in an increasingly cutthroat market. Over the years, the two amassed a long list of investors, including Google, Tencent Holdings Ltd. and Sequoia Capital India. The latter was an early backer of both Gojek and Tokopedia.</p><p>It all started in 2009, when Tanuwijaya, the son of a factory worker, made a bet on Indonesia’s economic and internet boom and founded Tokopedia -- the name is a variant of the Indonesian word for “store.” A year later, Nadiem Makarim, a Harvard Business School grad and former McKinsey &amp; Co. consultant, set up Gojek to arrange courier deliveries in Jakarta.</p><p>Soelistyo joined Gojek in 2015 after working as an investor at private-equity firm Northstar Group, which became the first institutional backer of the upstart. He and Aluwi were named co-CEOs of the ride-hailing company in October 2019, when Makarim left to join the government as the nation’s minister for education and culture.</p><p>The IPO is going ahead despite a rout in tech stocks, though it got downsized from its original goal. An index tracking the shares globally has slumped 13% this year with rising interest rates and geopolitical tensions weighing on the sector. GoTo’s regional peers have been particularly hit.</p><p>Singapore-based Grab Holdings Ltd., which also operates in Indonesia, has lost two-thirds of its market value since it merged with a blank-check firm in early December. Last month, it reported a wider loss after increasing its spending for incentives to lure drivers and customers -- highlighting risks in the highly competitive space.</p><p>Sea Ltd., which at one point minted Singapore’s richest billionaire, has tumbled 67% from its high in October. The gaming and e-commerce giant forecast its first decline ever in bookings at its digital gaming unit, while political headwinds in India pushed it to shut its main e-commerce operation just months after launching. New Delhi had already banned its most popular mobile game, Free Fire, citing security concerns because of its Chinese links.</p><p>While GoTo remains unprofitable -- it reported annual deficits for the three years through 2020 and a loss of 8.2 trillion rupiah ($570 million) in the first seven months of 2021 -- Soelistyo is optimistic. After all, Indonesia is Southeast Asia’s biggest economy, and the company also has operations in Vietnam and Singapore.</p><p>“Our listing will be a great moment for those involved in the success of our ecosystem and for everyone that believes in the ‘Indonesian dream’,” Soelistyo said in the statement announcing the initial share sale. “We hope that our IPO will show the world the tremendous opportunity that exists in our country and throughout the Southeast Asia region.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba, SoftBank Score 2022’s First IPO Windfall With GoTo</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, SoftBank Score 2022’s First IPO Windfall With GoTo\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-07 09:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/alibaba-softbank-score-first-2022-180000425.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>GoTo Group, whose business spans ride-hailing, e-commerce and fintech, became one of the world’s biggest listings this year, giving a much needed boost to early backers including China’s Alibaba Group...</p>\n\n<a href=\"https://finance.yahoo.com/news/alibaba-softbank-score-first-2022-180000425.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","SFTBY":"软银集团"},"source_url":"https://finance.yahoo.com/news/alibaba-softbank-score-first-2022-180000425.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178865052","content_text":"GoTo Group, whose business spans ride-hailing, e-commerce and fintech, became one of the world’s biggest listings this year, giving a much needed boost to early backers including China’s Alibaba Group Holding Ltd. and SoftBank Group Corp.’s Vision Fund.The Jakarta-based company raised $1.1 billion last week, meaning the value of the two investors’ stakes will be almost $5 billion combined following the share sale. That marks their first big windfall from an initial public offering this year after their stocks were both battered in past months.For GoTo’s top executives, the success of taking the company public isn’t translating into the type of riches recently associated with Asian IPOs.Chief Executive Officer Andre Soelistyo will have a stake valued at $235 million after the listing, while the holdings of Kevin Aluwi and William Tanuwijaya, who co-founded the startups that later merged to produce Indonesia’s giant, will be worth $213 million and $494 million, respectively, according to Bloomberg calculations based on the IPO prospectus.It’s not uncommon that early backers see a huge payday when a startup goes public -- that’s the incentive for taking the risk to invest. What’s notable in this case is how much the founders’ ownership got diluted in the various funding rounds that brought in billions of dollars.“In the mind of a startup, you need to burn cash to grow and to acquire users,” said Nathan Naidu, an analyst with Bloomberg Intelligence. “So I don’t think the focus for the founders is on wealth. It’s for getting the cash to grow the company.”While Tanuwijaya, Soelistyo and Aluwi retain 26% voting power after the share sale, their direct ownership in the internet giant is tiny: Tanuwijaya has a 1.77% stake assuming over-allotment, Soelistyo’s is 0.84% and Aluwi’s 0.77%. Compare that with 8.71% for SoftBank’s Vision Fund and 8.84% for Alibaba.GoTo declined to comment on the value of stakes held by its executives.But the fund that holds an even bigger proportion of the company is one that allocates stock options to employees in the coming years: The GoTo Peopleverse Fund will have a 9.03% stake after the listing. The firm is also giving away more than $20 million worth of shares to long-serving drivers, part of a broader program that includes merchants, consumers and its workers.“It’s about the sense of ownership and the badge that they’re part of the big family of GoTo,” Soelistyo said in an interview, referring to the share program. “The best way to sum this up is through one of our internal values, which we call ‘it’s not about you.’ It’s about us. It’s about the communities that we support that have made our success happen.”GoTo is the result of last year’s merger between Indonesia’s two most-valuable internet startups -- ride-hailing company Gojek and e-commerce firm Tokopedia -- to get more firepower against rivals in an increasingly cutthroat market. Over the years, the two amassed a long list of investors, including Google, Tencent Holdings Ltd. and Sequoia Capital India. The latter was an early backer of both Gojek and Tokopedia.It all started in 2009, when Tanuwijaya, the son of a factory worker, made a bet on Indonesia’s economic and internet boom and founded Tokopedia -- the name is a variant of the Indonesian word for “store.” A year later, Nadiem Makarim, a Harvard Business School grad and former McKinsey & Co. consultant, set up Gojek to arrange courier deliveries in Jakarta.Soelistyo joined Gojek in 2015 after working as an investor at private-equity firm Northstar Group, which became the first institutional backer of the upstart. He and Aluwi were named co-CEOs of the ride-hailing company in October 2019, when Makarim left to join the government as the nation’s minister for education and culture.The IPO is going ahead despite a rout in tech stocks, though it got downsized from its original goal. An index tracking the shares globally has slumped 13% this year with rising interest rates and geopolitical tensions weighing on the sector. GoTo’s regional peers have been particularly hit.Singapore-based Grab Holdings Ltd., which also operates in Indonesia, has lost two-thirds of its market value since it merged with a blank-check firm in early December. Last month, it reported a wider loss after increasing its spending for incentives to lure drivers and customers -- highlighting risks in the highly competitive space.Sea Ltd., which at one point minted Singapore’s richest billionaire, has tumbled 67% from its high in October. The gaming and e-commerce giant forecast its first decline ever in bookings at its digital gaming unit, while political headwinds in India pushed it to shut its main e-commerce operation just months after launching. New Delhi had already banned its most popular mobile game, Free Fire, citing security concerns because of its Chinese links.While GoTo remains unprofitable -- it reported annual deficits for the three years through 2020 and a loss of 8.2 trillion rupiah ($570 million) in the first seven months of 2021 -- Soelistyo is optimistic. After all, Indonesia is Southeast Asia’s biggest economy, and the company also has operations in Vietnam and Singapore.“Our listing will be a great moment for those involved in the success of our ecosystem and for everyone that believes in the ‘Indonesian dream’,” Soelistyo said in the statement announcing the initial share sale. “We hope that our IPO will show the world the tremendous opportunity that exists in our country and throughout the Southeast Asia region.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":255,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035443464,"gmtCreate":1647661762823,"gmtModify":1676534256867,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"bullish&nbsp;","listText":"bullish&nbsp;","text":"bullish","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035443464","repostId":"2220370899","repostType":4,"repost":{"id":"2220370899","pubTimestamp":1647659834,"share":"https://ttm.financial/m/news/2220370899?lang=&edition=fundamental","pubTime":"2022-03-19 11:17","market":"us","language":"en","title":"AMD: Time To Spend Some Money","url":"https://stock-news.laohu8.com/highlight/detail?id=2220370899","media":"seekingalpha","summary":"SummaryAMD has fallen close to 8-month lows near $110.The chip company has $9 billion worth of stock","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>AMD has fallen close to 8-month lows near $110.</li><li>The chip company has $9 billion worth of stock buyback power.</li><li>The stock now trades at bargain rates worthy of aggressive buybacks with a &#39;23 EPS boosted target pushing the forward PE below 20x.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6da6e4c59c95c3c3bddfeafc71e69f01\" tg-width=\"750\" tg-height=\"421\" width=\"100%\" height=\"auto\"/><span>Melpomenem/iStock via Getty Images</span></p><p>The market has snapped back the last three days, yet <b>Advanced Micro Devices</b> (NASDAQ:<a href=\"https://laohu8.com/S/AMD\">AMD</a>) hadn&#39;t made a huge move. The chip company still trades near the recent low of $102 despite the valuation turning into a sudden value play. My investment thesis remains ultra Bullish now, especially with AMD suddenly having a large stock buyback worth unleashing.</p><p><b>$8 Billion Buyback</b></p><p>Back on February 24, AMD launched a new $8 billion share buyback program on top of the prior program from May 2021. The chip company spent $1.8 billion on share buybacks last year, leaving $1.2 billion left for this year for total buyback power to unleash in 2022 of $9.2 billion.</p><p>In general, share buyback programs aren&#39;t appealing for aggressive growth stocks trading at rich multiples. A strong balance sheet with a large cash balance is an asset and provides the business with the security to invest as needed in new growth opportunities.</p><p>Besides, a stock trading at the normal AMD forward PE multiples of over 30x don&#39;t actually reduce share counts to a great extent. The finance department is better focused on improving operations versus repurchasing shares.</p><p>In the case of AMD, with the recent collapse of tech stocks, the company needs to become more aggressive with the share buyback plan. The chip company ended March 17 with the stock at $112 with a market cap of $180 billion.</p><p>The $8 billion buyback power repurchases around 5% of the outstanding shares. Clearly, AMD shouldn&#39;t chase prices much above the current price, as the large buyback amount quickly loses the impact.</p><p>The company ended the quarter with a net cash balance (shown as a negative) of $3.3 billion even after already spending the $1.8 billion last year on share buybacks. The company closed the Xilinx deal in February with their cash balance at the end of 2021 of $2.2 billion, providing the combined AMD with a ~$5.5 billion net cash balance.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2a088ec675ee8d4fa4c9fce930a0fe34\" tg-width=\"635\" tg-height=\"466\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>Just AMD alone generated free cash flow of $3.2 billion last year despite spending on long-term supply chain capacity to increase future supplies. Xilinx alone provides another big source of cash flows generating $0.84 billion for the last 9 months of 2021.</p><p>The combined AMD is expected to see substantial revenue growth this year. Analysts are now targeting growth in the 55% range in 2022. The chip company should be flush with cash flow this year with a general assumption of 55% growth, boosting the $4+ billion in FCF last year to $6+ billion this year before even considering the start of $300 million in cost synergies.</p><p>In total, AMD should have around $11+ billion in total cash available to repurchase shares. No doubt, the chip company has the balance sheet and cash flows to repurchase shares. The only real question is whether the company should spend the money.</p><p><b>Not Just Downside Protection</b></p><p>While AMD should focus on the buyback providing downside protection for the stock, a share reduction in the 5% range would start providing solid upside for shareholders. The company should only start throwing off more and more cash in future years due to the limited capital needed to run the fabless business.</p><p>My previous research highlighted why AMD has the EPS potential of at least $5.50 in 2023, but analysts only have EPS targets at $4.74 next year. Either way, though, a 5% share reduction would boost the current analyst 2023 EPS targets by $0.24.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f868d69956374509823d44c4603d80a8\" tg-width=\"635\" tg-height=\"466\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>The semi. company previously wasn&#39;t thought as capable of generating earnings due to the dominating position of <b>Intel</b> (INTC) is now poised to boost EPS by up to $0.24 via just a share buyback. AMD only trades at 24x current analyst 2023 EPS targets, and these numbers appear very conservative.</p><p>My previous 2023 EPS target of $5.50 didn&#39;t even factor in a boost from lower share counts. A 5% share reduction would boost that EPS target by $0.28 and push AMD even closer to a $6 EPS. The stock only trades at 19x the updated share buybacks boosted EPS.</p><p><b>Takeaway</b></p><p>The key investor takeaway is that AMD isn&#39;t likely to trade down at the $112 level long enough for the chip company to make material amounts of share buybacks. If this does happen, shareholders win and have solid downside protection at this level.</p><p>Ultimately, AMD isn&#39;t likely to see much financial benefit from the share buybacks, but an investor should feel comfortable buying the chip stock here with the downside protection. The company should definitely spend every penny on buybacks at this level.</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>AMD: Time To Spend Some Money</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMD: Time To Spend Some Money\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-19 11:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4496549-amd-time-to-spend-some-money><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAMD has fallen close to 8-month lows near $110.The chip company has $9 billion worth of stock buyback power.The stock now trades at bargain rates worthy of aggressive buybacks with a '23 EPS ...</p>\n\n<a href=\"https://seekingalpha.com/article/4496549-amd-time-to-spend-some-money\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4512":"苹果概念","BK4566":"资本集团","BK4575":"芯片概念","BK4554":"元宇宙及AR概念","BK4534":"瑞士信贷持仓","BK4141":"半导体产品","BK4529":"IDC概念","GFS":"GLOBALFOUNDRIES Inc.","BK4573":"虚拟现实","BK4532":"文艺复兴科技持仓","AMD":"美国超微公司"},"source_url":"https://seekingalpha.com/article/4496549-amd-time-to-spend-some-money","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2220370899","content_text":"SummaryAMD has fallen close to 8-month lows near $110.The chip company has $9 billion worth of stock buyback power.The stock now trades at bargain rates worthy of aggressive buybacks with a '23 EPS boosted target pushing the forward PE below 20x.Melpomenem/iStock via Getty ImagesThe market has snapped back the last three days, yet Advanced Micro Devices (NASDAQ:AMD) hadn't made a huge move. The chip company still trades near the recent low of $102 despite the valuation turning into a sudden value play. My investment thesis remains ultra Bullish now, especially with AMD suddenly having a large stock buyback worth unleashing.$8 Billion BuybackBack on February 24, AMD launched a new $8 billion share buyback program on top of the prior program from May 2021. The chip company spent $1.8 billion on share buybacks last year, leaving $1.2 billion left for this year for total buyback power to unleash in 2022 of $9.2 billion.In general, share buyback programs aren't appealing for aggressive growth stocks trading at rich multiples. A strong balance sheet with a large cash balance is an asset and provides the business with the security to invest as needed in new growth opportunities.Besides, a stock trading at the normal AMD forward PE multiples of over 30x don't actually reduce share counts to a great extent. The finance department is better focused on improving operations versus repurchasing shares.In the case of AMD, with the recent collapse of tech stocks, the company needs to become more aggressive with the share buyback plan. The chip company ended March 17 with the stock at $112 with a market cap of $180 billion.The $8 billion buyback power repurchases around 5% of the outstanding shares. Clearly, AMD shouldn't chase prices much above the current price, as the large buyback amount quickly loses the impact.The company ended the quarter with a net cash balance (shown as a negative) of $3.3 billion even after already spending the $1.8 billion last year on share buybacks. The company closed the Xilinx deal in February with their cash balance at the end of 2021 of $2.2 billion, providing the combined AMD with a ~$5.5 billion net cash balance.Data by YChartsJust AMD alone generated free cash flow of $3.2 billion last year despite spending on long-term supply chain capacity to increase future supplies. Xilinx alone provides another big source of cash flows generating $0.84 billion for the last 9 months of 2021.The combined AMD is expected to see substantial revenue growth this year. Analysts are now targeting growth in the 55% range in 2022. The chip company should be flush with cash flow this year with a general assumption of 55% growth, boosting the $4+ billion in FCF last year to $6+ billion this year before even considering the start of $300 million in cost synergies.In total, AMD should have around $11+ billion in total cash available to repurchase shares. No doubt, the chip company has the balance sheet and cash flows to repurchase shares. The only real question is whether the company should spend the money.Not Just Downside ProtectionWhile AMD should focus on the buyback providing downside protection for the stock, a share reduction in the 5% range would start providing solid upside for shareholders. The company should only start throwing off more and more cash in future years due to the limited capital needed to run the fabless business.My previous research highlighted why AMD has the EPS potential of at least $5.50 in 2023, but analysts only have EPS targets at $4.74 next year. Either way, though, a 5% share reduction would boost the current analyst 2023 EPS targets by $0.24.Data by YChartsThe semi. company previously wasn't thought as capable of generating earnings due to the dominating position of Intel (INTC) is now poised to boost EPS by up to $0.24 via just a share buyback. AMD only trades at 24x current analyst 2023 EPS targets, and these numbers appear very conservative.My previous 2023 EPS target of $5.50 didn't even factor in a boost from lower share counts. A 5% share reduction would boost that EPS target by $0.28 and push AMD even closer to a $6 EPS. The stock only trades at 19x the updated share buybacks boosted EPS.TakeawayThe key investor takeaway is that AMD isn't likely to trade down at the $112 level long enough for the chip company to make material amounts of share buybacks. If this does happen, shareholders win and have solid downside protection at this level.Ultimately, AMD isn't likely to see much financial benefit from the share buybacks, but an investor should feel comfortable buying the chip stock here with the downside protection. The company should definitely spend every penny on buybacks at this level.","news_type":1},"isVote":1,"tweetType":1,"viewCount":229,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":356718035,"gmtCreate":1616814626627,"gmtModify":1704799347468,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"please help&nbsp;","listText":"please help&nbsp;","text":"please help","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/356718035","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","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":1616780260,"share":"https://ttm.financial/m/news/1141686975?lang=&edition=fundamental","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></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>Zhihu Technology fall on its first day of trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZhihu Technology fall on its first day of trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-03-27 01:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1},"isVote":1,"tweetType":1,"viewCount":38,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575141057639271","authorId":"3575141057639271","authorIdStr":"3575141057639271","name":"Daveb","avatar":"https://static.tigerbbs.com/61df162e1597f1b5a6a6bfb13d7d92f5","crmLevel":1,"crmLevelSwitch":0,"idStr":"3575141057639271"},"content":"Hi Juvie, Probably not what youd like to hear butwhy have so many of this community bought into this stock. it lists to make its owners money not you and I. ??","text":"Hi Juvie, Probably not what youd like to hear butwhy have so many of this community bought into this stock. it lists to make its owners money not you and I. ??","html":"Hi Juvie, Probably not what youd like to hear butwhy have so many of this community bought into this stock. it lists to make its owners money not you and I. ??"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":134722058,"gmtCreate":1622261467174,"gmtModify":1704182451745,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"help pls","listText":"help pls","text":"help pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/134722058","repostId":"2138765488","repostType":4,"repost":{"id":"2138765488","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":1622215232,"share":"https://ttm.financial/m/news/2138765488?lang=&edition=fundamental","pubTime":"2021-05-28 23:20","market":"us","language":"en","title":"Tesla shares dip on recall rumors","url":"https://stock-news.laohu8.com/highlight/detail?id=2138765488","media":"Reuters","summary":"May 28  - Shares of Tesla Inc fell more than 1% on Friday after an unverified tweet said the electric carmaker had decided to recall some of its Model Y and Model 3 vehicles, citing a note from the company.Tesla did not immediately respond to a Reuters request for comment and Reuters was unable to verify the statement from the company that was shown in the tweet.","content":"<p>May 28 (Reuters) - Shares of Tesla Inc&nbsp;fell more than 1% on Friday after an unverified tweet&nbsp;said the electric carmaker had decided to recall some of its Model Y and Model 3 vehicles, citing a note from the company.</p><p><img src=\"https://static.tigerbbs.com/ba675bb3c29017bd5165f1d31830b19e\" tg-width=\"794\" tg-height=\"614\" referrerpolicy=\"no-referrer\"></p><p>Tesla did not immediately respond to a Reuters request for comment and Reuters was unable to verify the statement from the company that was shown in the tweet.</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>Tesla shares dip on recall rumors</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 shares dip on recall rumors\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\">2021-05-28 23:20</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>May 28 (Reuters) - Shares of Tesla Inc&nbsp;fell more than 1% on Friday after an unverified tweet&nbsp;said the electric carmaker had decided to recall some of its Model Y and Model 3 vehicles, citing a note from the company.</p><p><img src=\"https://static.tigerbbs.com/ba675bb3c29017bd5165f1d31830b19e\" tg-width=\"794\" tg-height=\"614\" referrerpolicy=\"no-referrer\"></p><p>Tesla did not immediately respond to a Reuters request for comment and Reuters was unable to verify the statement from the company that was shown in the tweet.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138765488","content_text":"May 28 (Reuters) - Shares of Tesla Inc fell more than 1% on Friday after an unverified tweet said the electric carmaker had decided to recall some of its Model Y and Model 3 vehicles, citing a note from the company.Tesla did not immediately respond to a Reuters request for comment and Reuters was unable to verify the statement from the company that was shown in the tweet.","news_type":1},"isVote":1,"tweetType":1,"viewCount":123,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3573775111920367","authorId":"3573775111920367","authorIdStr":"3573775111920367","name":"Tiongwee","avatar":"https://static.tigerbbs.com/e90910e406e67c77f42e225b16b69020","crmLevel":2,"crmLevelSwitch":0,"idStr":"3573775111920367"},"content":"Ok. Please reply","text":"Ok. Please reply","html":"Ok. Please reply"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121010505,"gmtCreate":1624443570207,"gmtModify":1703836839247,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"help","listText":"help","text":"help","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/121010505","repostId":"1145825451","repostType":4,"isVote":1,"tweetType":1,"viewCount":146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":119960009,"gmtCreate":1622513614901,"gmtModify":1704185402375,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"looking forward","listText":"looking forward","text":"looking forward","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/119960009","repostId":"1105273964","repostType":4,"repost":{"id":"1105273964","pubTimestamp":1622511256,"share":"https://ttm.financial/m/news/1105273964?lang=&edition=fundamental","pubTime":"2021-06-01 09:34","market":"us","language":"en","title":"Here Are the 11 Best Performing IPOs of the Year","url":"https://stock-news.laohu8.com/highlight/detail?id=1105273964","media":"Barron's","summary":"The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.That left us with 11 names. First up:CureVac, which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its ","content":"<p>The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.</p><p>But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.<i>Barron’s</i>looked at businesses that have gone public in the past 12 months to find some strong performers.</p><p>First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..</p><p>That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .</p><p>Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.</p><p>Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.</p><p>Another example isAcademy Sports &amp; Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading<b>.</b>Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.</p><p>Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.<img src=\"https://static.tigerbbs.com/9dedc209ede147958c015d3a586bb587\" tg-width=\"630\" tg-height=\"606\">Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.</p><p>Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.</p><p>ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce&nbsp;went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.</p><p>The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.</p><p>Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.</p>","source":"lsy1610680873436","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 Are the 11 Best Performing IPOs of the Year</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the 11 Best Performing IPOs of the Year\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-01 09:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.But not everyone receives these ...</p>\n\n<a href=\"https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105273964","content_text":"The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.Barron’slooked at businesses that have gone public in the past 12 months to find some strong performers.First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.Another example isAcademy Sports & Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading.Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":107,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3583106612879478","authorId":"3583106612879478","authorIdStr":"3583106612879478","name":"DylanYii","avatar":"https://static.tigerbbs.com/63bdc7c51b67ab113984a8ecc77b3917","crmLevel":1,"crmLevelSwitch":0,"idStr":"3583106612879478"},"content":"Like and comment bacK","text":"Like and comment bacK","html":"Like and comment bacK"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352193604,"gmtCreate":1616902667908,"gmtModify":1704799848115,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/352193604","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","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":1616780260,"share":"https://ttm.financial/m/news/1141686975?lang=&edition=fundamental","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></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>Zhihu Technology fall on its first day of trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZhihu Technology fall on its first day of trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-03-27 01:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1},"isVote":1,"tweetType":1,"viewCount":216,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575284570991838","authorId":"3575284570991838","authorIdStr":"3575284570991838","name":"TJKE","avatar":"https://static.tigerbbs.com/95e8ee10293b34fe4285a9c7270a10b6","crmLevel":2,"crmLevelSwitch":0,"idStr":"3575284570991838"},"content":"Please reply to this comment","text":"Please reply to this comment","html":"Please reply to this comment"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039178174,"gmtCreate":1645978126776,"gmtModify":1676534079041,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$</a>all the way","listText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$</a>all the way","text":"$Apple(AAPL)$all the way","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039178174","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://ttm.financial/m/news/1125580913?lang=&edition=fundamental","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.A":"伯克希尔","BRK.B":"伯克希尔B"},"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":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197701532,"gmtCreate":1621483386826,"gmtModify":1704358356058,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/197701532","repostId":"2136942754","repostType":4,"repost":{"id":"2136942754","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":1621482329,"share":"https://ttm.financial/m/news/2136942754?lang=&edition=fundamental","pubTime":"2021-05-20 11:45","market":"hk","language":"en","title":"Hong Kong-listed shares of JD.com rise as Q1 revenue tops estimate","url":"https://stock-news.laohu8.com/highlight/detail?id=2136942754","media":"Reuters","summary":"** Shares of China's e-commerce co JD.com Inc    rise as much as 4.1% to HK$281.80, their highest si","content":"<p>** Shares of China's e-commerce co JD.com Inc    rise as much as 4.1% to HK$281.80, their highest since May 12; stock on course for a second consecutive session of gains</p><p>** Stock is third-biggest percentage gainer in the Hang Seng Tech Index    and among the 30 most actively traded by turnover</p><p>** JD.com's&nbsp;estimate-beating Q1 revenue jumps 39% to 203.2 bln yuan ($31.57 bln), aided by an expanded product line-up that helped lure in more users</p><p>** The Beijing-based firm has joined rivals Pinduoduo&nbsp;and Alibaba Group&nbsp; in racking up double-digit sales growth during the pandemic, as people flocked to e-commerce websites to shop for everything from groceries to luxury goods</p><p>** Citi maintains \"buy\" on the stock, citing JD.com's solid execution, consistent result momentum and strength in supply chain capability has been underappreciated by the street as short-term concerns on margins overshadow longer-term market position outlook</p><p>** The Hong Kong Hang Seng consumer goods and services index&nbsp;eases 0.4%, while the Hang Seng Tech Index&nbsp;gains 0.7%</p><p>** The Hang Seng China enterprises index&nbsp;slips 0.6%, and the benchmark index&nbsp;falls 0.8%</p><p>** As of last close, JD.com's Hong Kong shares down 20.8% this year.</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>Hong Kong-listed shares of JD.com rise as Q1 revenue tops estimate</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\">\nHong Kong-listed shares of JD.com rise as Q1 revenue tops estimate\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\">2021-05-20 11:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>** Shares of China's e-commerce co JD.com Inc    rise as much as 4.1% to HK$281.80, their highest since May 12; stock on course for a second consecutive session of gains</p><p>** Stock is third-biggest percentage gainer in the Hang Seng Tech Index    and among the 30 most actively traded by turnover</p><p>** JD.com's&nbsp;estimate-beating Q1 revenue jumps 39% to 203.2 bln yuan ($31.57 bln), aided by an expanded product line-up that helped lure in more users</p><p>** The Beijing-based firm has joined rivals Pinduoduo&nbsp;and Alibaba Group&nbsp; in racking up double-digit sales growth during the pandemic, as people flocked to e-commerce websites to shop for everything from groceries to luxury goods</p><p>** Citi maintains \"buy\" on the stock, citing JD.com's solid execution, consistent result momentum and strength in supply chain capability has been underappreciated by the street as short-term concerns on margins overshadow longer-term market position outlook</p><p>** The Hong Kong Hang Seng consumer goods and services index&nbsp;eases 0.4%, while the Hang Seng Tech Index&nbsp;gains 0.7%</p><p>** The Hang Seng China enterprises index&nbsp;slips 0.6%, and the benchmark index&nbsp;falls 0.8%</p><p>** As of last close, JD.com's Hong Kong shares down 20.8% this year.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴","PDD":"拼多多","C":"花旗","09618":"京东集团-SW","JD":"京东"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136942754","content_text":"** Shares of China's e-commerce co JD.com Inc    rise as much as 4.1% to HK$281.80, their highest since May 12; stock on course for a second consecutive session of gains** Stock is third-biggest percentage gainer in the Hang Seng Tech Index    and among the 30 most actively traded by turnover** JD.com's estimate-beating Q1 revenue jumps 39% to 203.2 bln yuan ($31.57 bln), aided by an expanded product line-up that helped lure in more users** The Beijing-based firm has joined rivals Pinduoduo and Alibaba Group  in racking up double-digit sales growth during the pandemic, as people flocked to e-commerce websites to shop for everything from groceries to luxury goods** Citi maintains \"buy\" on the stock, citing JD.com's solid execution, consistent result momentum and strength in supply chain capability has been underappreciated by the street as short-term concerns on margins overshadow longer-term market position outlook** The Hong Kong Hang Seng consumer goods and services index eases 0.4%, while the Hang Seng Tech Index gains 0.7%** The Hang Seng China enterprises index slips 0.6%, and the benchmark index falls 0.8%** As of last close, JD.com's Hong Kong shares down 20.8% this year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":23,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347754822,"gmtCreate":1618532805966,"gmtModify":1704712266151,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"yes sir","listText":"yes sir","text":"yes sir","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/347754822","repostId":"1184470866","repostType":4,"repost":{"id":"1184470866","pubTimestamp":1618530196,"share":"https://ttm.financial/m/news/1184470866?lang=&edition=fundamental","pubTime":"2021-04-16 07:43","market":"us","language":"en","title":"Dow jumps 300 points to top 34,000 for the first time amid blowout economic data","url":"https://stock-news.laohu8.com/highlight/detail?id=1184470866","media":"CNBC","summary":"U.S. stocks climbed to record levels on Thursday after key companies reported strong earnings and fr","content":"<div>\n<p>U.S. stocks climbed to record levels on Thursday after key companies reported strong earnings and fresh economic data pointed to a rebound in consumer spending and the jobs market.\nThe Dow Jones ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/14/stock-futures-inch-higher-after-sp-500-retreats-from-record.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dow jumps 300 points to top 34,000 for the first time amid blowout economic data</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\">\nDow jumps 300 points to top 34,000 for the first time amid blowout economic data\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 07:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/14/stock-futures-inch-higher-after-sp-500-retreats-from-record.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. stocks climbed to record levels on Thursday after key companies reported strong earnings and fresh economic data pointed to a rebound in consumer spending and the jobs market.\nThe Dow Jones ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/14/stock-futures-inch-higher-after-sp-500-retreats-from-record.html\">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","AAPL":"苹果","NFLX":"奈飞","AMZN":"亚马逊","COIN":"Coinbase Global, Inc.",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.cnbc.com/2021/04/14/stock-futures-inch-higher-after-sp-500-retreats-from-record.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1184470866","content_text":"U.S. stocks climbed to record levels on Thursday after key companies reported strong earnings and fresh economic data pointed to a rebound in consumer spending and the jobs market.\nThe Dow Jones Industrial Average rose 305.10 points, or 0.9%, to a record close of 34,035.99, marking the first time the blue-chip benchmark has crossed the 34,000 milestone. The S&P 500 gained 1.1% to 4,170.42, also reaching a record high. The Nasdaq Composite advanced 1.3% to 14,038.76.\nTechnology shares rebounded as bond yields fell. The so-called FAANG stocks – Facebook, Amazon, Apple, Netflix and Alphabet – all climbed more than 1%. The 10-year Treasury yield dropped 8 basis points below 1.56%. Earlier in the year, higher rates caused investors to dump growth-oriented stocks.\nRetail sales surged 9.8% in March as additional stimulus sent consumer spending soaring, the Commerce Department reported Thursday. That number topped the Dow Jones estimate of a 6.1% gain.\nA separate report on Thursday showed that first-time filings for unemployment insurance dropped to the lowest level since March 2020. The Labor Department reported 576,000 new jobless claims for the week ended April 10. Economists polled by Dow Jones expected a total of 710,000.\n“Although 34,000 by itself is just another number, this is a monumental feat when you think back to where we were last year at this time,” said Ryan Detrick, chief market strategist at LPL Financial. “The speed and resiliency of this economic recovery is unlike anything we’ve ever seen and it helps to justify stocks at all-time highs.”\nShares of UnitedHealth, a Dow member, gained 3.8% after results topped the Street’s forecasts and the health insurer raised guidance for 2021.\nPepsi shares added 0.1% after the consumer snack and drink maker said sales last quarter rose nearly 7%, topping estimates.\nThe market has been grinding higher to reach new records in recent sessions amid the economic reopening and trillions of dollars in stimulus. The S&P 500 has gained 11% in 2021 with energy and financials up the most year to date.\n“I am incredibly bullish on the markets, and you are right to be worried about our deficits,” Larry Fink, BlackRock CEO, said in an interview on “Squawk Box.”“If we don’t have economic growth that is sustainable over the next 10 years — our deficits are going to matter and they are going to elevate interest rates ... I believe because of monetary stimulus, fiscal stimulus, cash on the sidelines, earnings, markets are okay. Markets are going to continue to be stronger.”\nShares of Citigroup erased earlier gains and fell 0.5% The bank posted results that beat analysts’ estimates for first-quarter profit with strong investment banking revenue and a bigger-than-expected release of loan-loss reserves.\nBank of America shares rose as earnings last quarter blew past the Street on booming trading and investment banking results as well the release of loan-loss reserves. The shares dipped 2.9%, however.\nNewly public crypto exchange Coinbase rolled over and closed the day down 1.7% in volatile trading. The stock got a boost earlier after it was revealed Ark Invest’s Cathie Wood loaded up on the first day of trading.\nOn Tuesday, the Food and Drug Administration called for a pause in administering J&J’s Covid-19 vaccine after six people in the U.S. developed a rare disorder involving blood clots. The announcement triggered a sell-off in reopening plays earlier in the week, but is not expected to have a material impact on the pace of the U.S. vaccine rollout.","news_type":1},"isVote":1,"tweetType":1,"viewCount":102,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3579660733875673","authorId":"3579660733875673","authorIdStr":"3579660733875673","name":"Jseah","avatar":"https://static.tigerbbs.com/bb6546a340428ae249481e6aa1342d20","crmLevel":2,"crmLevelSwitch":0,"idStr":"3579660733875673"},"content":"Comment like","text":"Comment like","html":"Comment like"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349814049,"gmtCreate":1617588087181,"gmtModify":1704700588905,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"maybe","listText":"maybe","text":"maybe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/349814049","repostId":"1191998262","repostType":4,"repost":{"id":"1191998262","pubTimestamp":1617366158,"share":"https://ttm.financial/m/news/1191998262?lang=&edition=fundamental","pubTime":"2021-04-02 20:22","market":"us","language":"en","title":"How Likely Is a Stock Market Crash?","url":"https://stock-news.laohu8.com/highlight/detail?id=1191998262","media":"Motley Fool","summary":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-b","content":"<blockquote>\n You may not like the answer.\n</blockquote>\n<p>For the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmark<b>S&amp;P 500</b>(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.</p>\n<p>But there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.</p>\n<p>It begs the question: How likely is astock market crash? Let's take a closer look.</p>\n<p><b>Double-digit declines occur every 1.87 years, on average</b></p>\n<p>To begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&amp;P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&amp;P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.</p>\n<p>However, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.</p>\n<p>We could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.</p>\n<p><b>Corrections have been an historical given within three years of a bear market bottom</b></p>\n<p>Another interesting piece of evidence to examine is the frequency by which the S&amp;P 500 corrects after hitting a bear-market bottom.</p>\n<p>Since the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).</p>\n<p>Put another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.</p>\n<p><b>Crashes frequently occur when this valuation metric is hit</b></p>\n<p>But the most damning bit of evidence might just be the S&amp;P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.</p>\n<p>As of the close of business on March 30, the S&amp;P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.</p>\n<p>To some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.</p>\n<p>However, previous instances of the S&amp;P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.</p>\n<p><b>Keep that cash handy in the event that opportunity knocks</b></p>\n<p>To circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.</p>\n<p>While this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.</p>\n<p>The reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&amp;P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&amp;P 500 been negative.</p>\n<p>If you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&amp;P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.</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>How Likely Is a Stock Market Crash?</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\">\nHow Likely Is a Stock Market Crash?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191998262","content_text":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.\nBut there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.\nIt begs the question: How likely is astock market crash? Let's take a closer look.\nDouble-digit declines occur every 1.87 years, on average\nTo begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.\nHowever, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.\nWe could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.\nCorrections have been an historical given within three years of a bear market bottom\nAnother interesting piece of evidence to examine is the frequency by which the S&P 500 corrects after hitting a bear-market bottom.\nSince the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).\nPut another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.\nCrashes frequently occur when this valuation metric is hit\nBut the most damning bit of evidence might just be the S&P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.\nAs of the close of business on March 30, the S&P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.\nTo some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.\nHowever, previous instances of the S&P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.\nKeep that cash handy in the event that opportunity knocks\nTo circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.\nWhile this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.\nThe reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&P 500 been negative.\nIf you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":68,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3572249185724220","authorId":"3572249185724220","authorIdStr":"3572249185724220","name":"xoxoll","avatar":"https://static.tigerbbs.com/8ed65c2962af2a6fbd414f4d6fe9e378","crmLevel":2,"crmLevelSwitch":0,"idStr":"3572249185724220"},"content":"Help me like anD comment","text":"Help me like anD comment","html":"Help me like anD comment"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340509879,"gmtCreate":1617424729691,"gmtModify":1704699609811,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"like and comment please","listText":"like and comment please","text":"like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/340509879","repostId":"2124875875","repostType":4,"repost":{"id":"2124875875","pubTimestamp":1617366960,"share":"https://ttm.financial/m/news/2124875875?lang=&edition=fundamental","pubTime":"2021-04-02 20:36","market":"us","language":"en","title":"Tesla Q1 2021 Vehicle Production & Deliveries","url":"https://stock-news.laohu8.com/highlight/detail?id=2124875875","media":"StreetInsider","summary":"PALO ALTO, Calif., April 02, 2021  -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.Forward-Looking Statements Statements herein regarding the timin","content":"<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.</p>\n<table>\n <tbody>\n  <tr>\n   <td></td>\n   <td><b>Production</b></td>\n   <td><b>Deliveries</b></td>\n   <td><b>Subject to operating lease accounting</b></td>\n  </tr>\n  <tr>\n   <td>Model S/X</td>\n   <td>-</td>\n   <td>2,020</td>\n   <td>6%</td>\n  </tr>\n  <tr>\n   <td>Model 3/Y</td>\n   <td>180,338</td>\n   <td>182,780</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td><b>Total</b></td>\n   <td><b>180,338</b></td>\n   <td><b>184,800</b></td>\n   <td><b>7%</b></td>\n  </tr>\n </tbody>\n</table>\n<p>***************</p>\n<p>Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only <a href=\"https://laohu8.com/S/AONE\">one</a> measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.</p>\n<p><b>Forward-Looking Statements</b>&nbsp;Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.</p>\n<p><img src=\"https://static.tigerbbs.com/db04c7b378cb2db912c3ba8a5a774ee3\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/c2196de8ba412c60c22ab491af7b1409\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>","source":"highlight_streetinsider","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 Q1 2021 Vehicle Production & Deliveries</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 Q1 2021 Vehicle Production & Deliveries\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18215929><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18215929\">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.streetinsider.com/dr/news.php?id=18215929","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2124875875","content_text":"PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.\n\n\n\n\nProduction\nDeliveries\nSubject to operating lease accounting\n\n\nModel S/X\n-\n2,020\n6%\n\n\nModel 3/Y\n180,338\n182,780\n7%\n\n\nTotal\n180,338\n184,800\n7%\n\n\n\n***************\nOur net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.\nForward-Looking Statements Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.","news_type":1},"isVote":1,"tweetType":1,"viewCount":32,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351720391,"gmtCreate":1616634814713,"gmtModify":1704796677697,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/351720391","repostId":"2122493622","repostType":4,"repost":{"id":"2122493622","pubTimestamp":1616634621,"share":"https://ttm.financial/m/news/2122493622?lang=&edition=fundamental","pubTime":"2021-03-25 09:10","market":"us","language":"en","title":"Bill Gates-Backed Vicarious Is in Talks to Merge With D8 SPAC","url":"https://stock-news.laohu8.com/highlight/detail?id=2122493622","media":"Bloomberg","summary":"(Bloomberg) -- Vicarious Surgical, a developer of medical robot technology that’s backed by Microsof","content":"<p>(Bloomberg) -- Vicarious Surgical, a developer of medical robot technology that’s backed by Microsoft Corp. co-founder Bill Gates, is in talks to go public through a merger with blank check-firm <a href=\"https://laohu8.com/S/DEH\">D8 Holdings Corp.</a>, according to a person with knowledge of the matter.</p>\n<p>The companies are discussing a deal that values the combined entity at about $1.1 billion, said the person, who asked not to be identified because the talks are private. Terms aren’t final and it’s possible talks could fall apart.</p>\n<p>Representatives for Vicarious and D8 didn’t immediately respond to requests for comment.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bill Gates-Backed Vicarious Is in Talks to Merge With D8 SPAC</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\">\nBill Gates-Backed Vicarious Is in Talks to Merge With D8 SPAC\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 09:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bill-gates-backed-vicarious-talks-205357619.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Vicarious Surgical, a developer of medical robot technology that’s backed by Microsoft Corp. co-founder Bill Gates, is in talks to go public through a merger with blank check-firm D8 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bill-gates-backed-vicarious-talks-205357619.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f89de056244db931a4756a0c18630d1a","relate_stocks":{"MSFT":"微软"},"source_url":"https://finance.yahoo.com/news/bill-gates-backed-vicarious-talks-205357619.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2122493622","content_text":"(Bloomberg) -- Vicarious Surgical, a developer of medical robot technology that’s backed by Microsoft Corp. co-founder Bill Gates, is in talks to go public through a merger with blank check-firm D8 Holdings Corp., according to a person with knowledge of the matter.\nThe companies are discussing a deal that values the combined entity at about $1.1 billion, said the person, who asked not to be identified because the talks are private. Terms aren’t final and it’s possible talks could fall apart.\nRepresentatives for Vicarious and D8 didn’t immediately respond to requests for comment.","news_type":1},"isVote":1,"tweetType":1,"viewCount":116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351274559,"gmtCreate":1616600479871,"gmtModify":1704796328179,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"Going to do the exact opposite","listText":"Going to do the exact opposite","text":"Going to do the exact opposite","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/351274559","repostId":"2121457670","repostType":4,"repost":{"id":"2121457670","pubTimestamp":1616597870,"share":"https://ttm.financial/m/news/2121457670?lang=&edition=fundamental","pubTime":"2021-03-24 22:57","market":"us","language":"en","title":"4 Dangerous Robinhood Stocks That Could Lose 50% or More, According to Wall Street","url":"https://stock-news.laohu8.com/highlight/detail?id=2121457670","media":"Motley Fool","summary":"Retail investors could lose a boatload of money from these highly popular stocks.","content":"<p>It's possible that when the curtain closes on 2021, it'll be remembered as the year of the retail investor.</p><p>Since March 2020, we've seen a big uptick in the number of millennials who've put their money to work in the stock market. Online investing app Robinhood, which is known for its commission-free trading platform and gifting of free shares of stock to new users, attracted 3 million new members last year. That's noteworthy given the average age of Robinhood's user base is only 31.</p><p>On one hand, it's great to see young investors who have time as their ally putting money to work in the world's greatest wealth creator. On the other hand, quite a few of these young investors aren't thinking long term. Rather, they're caught up in the recent retail investor-fueled Reddit frenzy and looking to get rich quick.</p><p>The problem with the get-rich-quick strategy is that it rarely works -- and Wall Street knows it.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ebe3f403b1b970d0e231952ef9c1d01c\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Image source: Getty Images.</span></p><p>At the moment, there are four widely held stocks on Robinhood that, according to Wall Street's <a href=\"https://laohu8.com/S/AONE.U\">one</a>-year consensus price targets, are expected to lose at least half their value, if not more. If these analyst estimates prove accurate, these dangerous Robinhood stocks could cost unsuspecting retail investors a boatload of money.</p><h2>GameStop: Implied downside of 93%</h2><p>Perhaps it's no surprise that the riskiest Robinhood stock of all is the company that started the Reddit frenzy, <b>GameStop</b> (NYSE:GME). Shares of the video game and accessories company are up nearly 4,700% over the past year, but offer 93% downside, if Wall Street's consensus is correct.</p><p>What made GameStop such a popular company to own among retail investors was its high short interest. Entering January, no public company had a higher percentage of shares held short, relative to its float. Because of this short interest, a flood of buyers were able to execute an epic short squeeze.</p><p>Unfortunately, most of the Reddit rally stocks have poor underlying fundamentals and/or a dubious long-term outlook. When it comes to GameStop, its biggest issue was waiting too long to focus on digital gaming. Even with its renewed focus on e-commerce, total sales for the company declined, once again, during the most recent holiday season. Further, GameStop is almost certainly staring down its fourth consecutive annual loss in 2021.</p><p>If there is some good news here, it's that GameStop isn't a lost cause. Eventually, it'll close enough stores to reduce its expenses to the point where it's profitable again. But there's a big difference between growth with a profit and backpedaling into a profit. GameStop is doing the latter, which is what has Wall Street rightly concerned.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c6cb4d9fcdf85f542f333fc71a2dd58\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Image source: Getty Images.</span></p><h2>AMC Entertainment: Implied downside of 75%</h2><p>Movie theater chain <b>AMC Entertainment</b> (NYSE:AMC), which has risen in lockstep with GameStop for much of the past two months, is also on Wall Street's naughty list. Putting aside the $0.01 price target recently issued by one analyst, the Wall Street consensus is that AMC will lose three-quarters of its value over the next year.</p><p>AMC's outperformance over the past two months has to do with Reddit traders piling into the company, as well as folks betting on the reopening trade. AMC recently announced that 99% of its theaters would be open by March 26.</p><p>However, this optimism looks highly flawed. Many of the company's theaters are still facing capacity restrictions, and there are no guarantees that the coronavirus pandemic will officially end in 2021. New variants of the disease, along with vaccine holdouts, threaten to push herd immunity and a return to normal further down the road.</p><p>The company's solvency is also a potential concern. Even with more than $1 billion in cash on hand, Wall Street is expecting AMC to lose more than $1.7 billion, total, over the next two years. This implies the need to issue more dilutive stock or more debt.</p><p>As the icing on the cake, AMC is also losing some of its new release exclusivity to streaming service providers. At long last, the movie theater industry is being disrupted -- but that's not a good thing for AMC.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/91f6037829ea3fb0ae1cae0b95d8d11e\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Image source: Getty Images.</span></p><h2>Riot Blockchain: Implied downside of 54%</h2><p>Wall Street also views cryptocurrency mining stock <b>Riot Blockchain</b> (NASDAQ:RIOT) as a dangerous investment. The 76th most-held stock on Robinhood is projected to lose 54% of its value over the next year, according to analysts on Wall Street.</p><p>Riot Blockchain's incredible outperformance in recent months can be tied to the rally in <b>Bitcoin</b> (CRYPTO:BTC), the world's largest digital currency. As a cryptocurrency miner, Riot uses high-powered computers to validate groups of transactions (known as blocks) on Bitcoin's network. For validating blocks, Riot is given a block reward totaling 6.25 Bitcoin (worth about $365,000). In short, the higher Bitcoin goes, the more these block rewards are worth.</p><p>While this sounds like a pretty straightforward investment, it's not that simple. For example, the asset Riot is \"mining\" has had three separate instances over the past decade where it's lost at least 80% of its value. It's not clear if mining companies could survive such a protracted downtrend in Bitcoin.</p><p>It's equally concerning that Riot Blockchain's future is entirely tethered to the performance of Bitcoin. This is an operating model that's pretty much devoid of innovation and is constantly facing a growing number of competitors. Add on the halving of Bitcoin's block rewards every couple of years, and I believe there's more than enough incentive to stay far away from Riot Blockchain.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5811406aed4001edc942cb25310a21cf\" tg-width=\"700\" tg-height=\"467\" referrerpolicy=\"no-referrer\"><span>Image source: Getty Images.</span></p><h2>Sundial Growers: Implied downside of 54%</h2><p>Finally, Wall Street views the fourth most-held Robinhood stock, <b>Sundial Growers</b> (NASDAQ:SNDL), as trouble. Shares of Canadian marijuana stock Sundial are higher by more than 900% since late October.</p><p>Similar to GameStop and AMC, Sundial and its high short interest have benefited from the Reddit frenzy. Investors also appear to be betting on the U.S. legalizing cannabis at the federal level. Doing so would allow Canadian marijuana stocks like Sundial to enter the far more lucrative U.S. weed market.</p><p>But if there's something tenured investors are very familiar with, it's the idea that all next-big-thing investments have losers. Even though marijuana is expected to be one of the fastest-growing industries this decade, Sundial hasn't demonstrated anything from an operational perspective to suggest that it'd be a winner.</p><p>One thing Sundial has done successfully is drown its existing investors in a sea of new shares. In a roughly five-month span, the company issued more than 1.15 billion shares via at-the-market offerings, registered direct offerings, and debt-to-equity swaps. Retail investors are quick to point to Sundial's mountain of new cash raised as a positive, but fail to see how the company's massive share count will cripple its potential for a long time to come.</p><p>With it looking less likely that the U.S. federal government will change its tune on cannabis at the federal level, and Sundial delivering ongoing losses and mediocre sales growth, it qualifies as the No. 1 pot stock worth avoiding.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Dangerous Robinhood Stocks That Could Lose 50% or More, 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\">\n4 Dangerous Robinhood Stocks That Could Lose 50% or More, According to Wall Street\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-24 22:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/03/24/4-dangerous-robinhood-stocks-lose-50-wall-street/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It's possible that when the curtain closes on 2021, it'll be remembered as the year of the retail investor.Since March 2020, we've seen a big uptick in the number of millennials who've put their money...</p>\n\n<a href=\"https://www.fool.com/investing/2021/03/24/4-dangerous-robinhood-stocks-lose-50-wall-street/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RIOT":"Riot Platforms","GME":"游戏驿站","SNDL":"SNDL Inc.","AMC":"AMC院线"},"source_url":"https://www.fool.com/investing/2021/03/24/4-dangerous-robinhood-stocks-lose-50-wall-street/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2121457670","content_text":"It's possible that when the curtain closes on 2021, it'll be remembered as the year of the retail investor.Since March 2020, we've seen a big uptick in the number of millennials who've put their money to work in the stock market. Online investing app Robinhood, which is known for its commission-free trading platform and gifting of free shares of stock to new users, attracted 3 million new members last year. That's noteworthy given the average age of Robinhood's user base is only 31.On one hand, it's great to see young investors who have time as their ally putting money to work in the world's greatest wealth creator. On the other hand, quite a few of these young investors aren't thinking long term. Rather, they're caught up in the recent retail investor-fueled Reddit frenzy and looking to get rich quick.The problem with the get-rich-quick strategy is that it rarely works -- and Wall Street knows it.Image source: Getty Images.At the moment, there are four widely held stocks on Robinhood that, according to Wall Street's one-year consensus price targets, are expected to lose at least half their value, if not more. If these analyst estimates prove accurate, these dangerous Robinhood stocks could cost unsuspecting retail investors a boatload of money.GameStop: Implied downside of 93%Perhaps it's no surprise that the riskiest Robinhood stock of all is the company that started the Reddit frenzy, GameStop (NYSE:GME). Shares of the video game and accessories company are up nearly 4,700% over the past year, but offer 93% downside, if Wall Street's consensus is correct.What made GameStop such a popular company to own among retail investors was its high short interest. Entering January, no public company had a higher percentage of shares held short, relative to its float. Because of this short interest, a flood of buyers were able to execute an epic short squeeze.Unfortunately, most of the Reddit rally stocks have poor underlying fundamentals and/or a dubious long-term outlook. When it comes to GameStop, its biggest issue was waiting too long to focus on digital gaming. Even with its renewed focus on e-commerce, total sales for the company declined, once again, during the most recent holiday season. Further, GameStop is almost certainly staring down its fourth consecutive annual loss in 2021.If there is some good news here, it's that GameStop isn't a lost cause. Eventually, it'll close enough stores to reduce its expenses to the point where it's profitable again. But there's a big difference between growth with a profit and backpedaling into a profit. GameStop is doing the latter, which is what has Wall Street rightly concerned.Image source: Getty Images.AMC Entertainment: Implied downside of 75%Movie theater chain AMC Entertainment (NYSE:AMC), which has risen in lockstep with GameStop for much of the past two months, is also on Wall Street's naughty list. Putting aside the $0.01 price target recently issued by one analyst, the Wall Street consensus is that AMC will lose three-quarters of its value over the next year.AMC's outperformance over the past two months has to do with Reddit traders piling into the company, as well as folks betting on the reopening trade. AMC recently announced that 99% of its theaters would be open by March 26.However, this optimism looks highly flawed. Many of the company's theaters are still facing capacity restrictions, and there are no guarantees that the coronavirus pandemic will officially end in 2021. New variants of the disease, along with vaccine holdouts, threaten to push herd immunity and a return to normal further down the road.The company's solvency is also a potential concern. Even with more than $1 billion in cash on hand, Wall Street is expecting AMC to lose more than $1.7 billion, total, over the next two years. This implies the need to issue more dilutive stock or more debt.As the icing on the cake, AMC is also losing some of its new release exclusivity to streaming service providers. At long last, the movie theater industry is being disrupted -- but that's not a good thing for AMC.Image source: Getty Images.Riot Blockchain: Implied downside of 54%Wall Street also views cryptocurrency mining stock Riot Blockchain (NASDAQ:RIOT) as a dangerous investment. The 76th most-held stock on Robinhood is projected to lose 54% of its value over the next year, according to analysts on Wall Street.Riot Blockchain's incredible outperformance in recent months can be tied to the rally in Bitcoin (CRYPTO:BTC), the world's largest digital currency. As a cryptocurrency miner, Riot uses high-powered computers to validate groups of transactions (known as blocks) on Bitcoin's network. For validating blocks, Riot is given a block reward totaling 6.25 Bitcoin (worth about $365,000). In short, the higher Bitcoin goes, the more these block rewards are worth.While this sounds like a pretty straightforward investment, it's not that simple. For example, the asset Riot is \"mining\" has had three separate instances over the past decade where it's lost at least 80% of its value. It's not clear if mining companies could survive such a protracted downtrend in Bitcoin.It's equally concerning that Riot Blockchain's future is entirely tethered to the performance of Bitcoin. This is an operating model that's pretty much devoid of innovation and is constantly facing a growing number of competitors. Add on the halving of Bitcoin's block rewards every couple of years, and I believe there's more than enough incentive to stay far away from Riot Blockchain.Image source: Getty Images.Sundial Growers: Implied downside of 54%Finally, Wall Street views the fourth most-held Robinhood stock, Sundial Growers (NASDAQ:SNDL), as trouble. Shares of Canadian marijuana stock Sundial are higher by more than 900% since late October.Similar to GameStop and AMC, Sundial and its high short interest have benefited from the Reddit frenzy. Investors also appear to be betting on the U.S. legalizing cannabis at the federal level. Doing so would allow Canadian marijuana stocks like Sundial to enter the far more lucrative U.S. weed market.But if there's something tenured investors are very familiar with, it's the idea that all next-big-thing investments have losers. Even though marijuana is expected to be one of the fastest-growing industries this decade, Sundial hasn't demonstrated anything from an operational perspective to suggest that it'd be a winner.One thing Sundial has done successfully is drown its existing investors in a sea of new shares. In a roughly five-month span, the company issued more than 1.15 billion shares via at-the-market offerings, registered direct offerings, and debt-to-equity swaps. Retail investors are quick to point to Sundial's mountain of new cash raised as a positive, but fail to see how the company's massive share count will cripple its potential for a long time to come.With it looking less likely that the U.S. federal government will change its tune on cannabis at the federal level, and Sundial delivering ongoing losses and mediocre sales growth, it qualifies as the No. 1 pot stock worth avoiding.","news_type":1},"isVote":1,"tweetType":1,"viewCount":97,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575141057639271","authorId":"3575141057639271","authorIdStr":"3575141057639271","name":"Daveb","avatar":"https://static.tigerbbs.com/61df162e1597f1b5a6a6bfb13d7d92f5","crmLevel":1,"crmLevelSwitch":0,"idStr":"3575141057639271"},"content":"Awesome friend. Stand United. ??????","text":"Awesome friend. Stand United. ??????","html":"Awesome friend. Stand United. ??????"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359022732,"gmtCreate":1616304266826,"gmtModify":1704792785992,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"time will tell","listText":"time will tell","text":"time will tell","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/359022732","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","pubTimestamp":1616166767,"share":"https://ttm.financial/m/news/1117450855?lang=&edition=fundamental","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<blockquote>\n <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>\n</blockquote>\n<p>Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p>\n<p>In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p>\n<p>“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p>\n<p>Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p>\n<p>The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p>\n<p>With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p>\n<p>In the op-ed, Powell said the situation “is much improved.”</p>\n<p>“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p>\n<p>“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p>\n<p>On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p>\n<p>The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p>\n<p>Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p>\n<p>Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p>","source":"market_watch","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>Powell says Fed will keep supporting economy ‘for as long as it takes’</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\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 23:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” ...</p>\n\n<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?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":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":96,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575765870316438","authorId":"3575765870316438","authorIdStr":"3575765870316438","name":"Derrickola","avatar":"https://static.tigerbbs.com/2e1a91ff1e2c7029f0ea5d952a46bebb","crmLevel":2,"crmLevelSwitch":0,"idStr":"3575765870316438"},"content":"awesome! comment and like me back !","text":"awesome! comment and like me back !","html":"awesome! comment and like me back !"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881424252,"gmtCreate":1631381596476,"gmtModify":1676530538898,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/881424252","repostId":"2166726753","repostType":4,"repost":{"id":"2166726753","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":1631326722,"share":"https://ttm.financial/m/news/2166726753?lang=&edition=fundamental","pubTime":"2021-09-11 10:18","market":"us","language":"en","title":"Tesla raises price for Performance Model Y in China to 387,900 yuan","url":"https://stock-news.laohu8.com/highlight/detail?id=2166726753","media":"Tiger Newspress","summary":"Tesla Inc says raises price for Performance Model&nbsp;Y in China by 10,000 yuan to 387,900 yuan - Tesla Weibo.","content":"<p>Tesla Inc says raises price for Performance Model&nbsp;Y in China by 10,000 yuan to 387,900 yuan - Tesla Weibo.</p>\n<p><img src=\"https://static.tigerbbs.com/491c8dbad3baf69e3c07a30dbacd6b95\" tg-width=\"745\" tg-height=\"322\" referrerpolicy=\"no-referrer\"></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>Tesla raises price for Performance Model Y in China to 387,900 yuan</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 raises price for Performance Model Y in China to 387,900 yuan\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-11 10:18</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Tesla Inc says raises price for Performance Model&nbsp;Y in China by 10,000 yuan to 387,900 yuan - Tesla Weibo.</p>\n<p><img src=\"https://static.tigerbbs.com/491c8dbad3baf69e3c07a30dbacd6b95\" tg-width=\"745\" tg-height=\"322\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2166726753","content_text":"Tesla Inc says raises price for Performance Model Y in China by 10,000 yuan to 387,900 yuan - Tesla Weibo.","news_type":1},"isVote":1,"tweetType":1,"viewCount":141,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895180839,"gmtCreate":1628728463721,"gmtModify":1676529832809,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"interesting","listText":"interesting","text":"interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/895180839","repostId":"1146833505","repostType":4,"isVote":1,"tweetType":1,"viewCount":43,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112238884,"gmtCreate":1622872372348,"gmtModify":1704192837789,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"like and comment","listText":"like and comment","text":"like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/112238884","repostId":"1148130971","repostType":4,"repost":{"id":"1148130971","pubTimestamp":1622866524,"share":"https://ttm.financial/m/news/1148130971?lang=&edition=fundamental","pubTime":"2021-06-05 12:15","market":"us","language":"en","title":"Can NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'","url":"https://stock-news.laohu8.com/highlight/detail?id=1148130971","media":"seekingalpha","summary":"NIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.We believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.NIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fas","content":"<p><b>Summary</b></p>\n<ul>\n <li>NIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.</li>\n <li>The company's innovative approach and overseas expansion strategy, combined with the growing market sentiment on global electrification and automation are expected to boost the company's valuation.</li>\n <li>We believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b31b2f189fa181e941126674e0b4c0b\" tg-width=\"1536\" tg-height=\"1024\"><span>Photo by Drew Angerer/Getty Images News via Getty Images</span></p>\n<p>Despite it being a local Chinese electric vehicle (“EV”) brand that has only recently started its overseas expansion into Europe, NIO(NYSE:NIO)has already garnered significant international attention amidst avid investors within the EV sector in recent years. It has only been three short years since NIO made its first deliveries in mid-2018, yet many are already wondering whether its share price can reach similar heights as an industry leader, Tesla’s(NASDAQ:TSLA). Albeit a little farfetched given Tesla is currently trading at more than $600 per share with a market cap of more than $600 billion, we do believe NIO has promising potential to break $100 per share before 2025. Even Wall Street Analysts remain optimistic about the company’s future by assigning a&nbsp;price target of close to $60, which represents upward potential of more than 35% based on the last traded share price of $42.34 (June 1st).</p>\n<p>Founded in 2014, NIO has sold and delivered more than 100,000 vehicles in China to date. The company boasts a fleet of five emission-free, fully battery-powered models, ranging from sports cars to luxury sedans and full-size SUVs. In addition to their vehicles, NIO is also known for their significant progress achieved in innovative technology, including state-of-the-art battery solutions, artificial intelligence, and autonomous driving. The company has also recently turned their global expansion plans into reality, with the first overseas NIO store to open in Oslo, Norway in Q3 2021. We believe that reaching a share price of $100 is no longer a question of “if”, but instead, “when”.</p>\n<p><b>A Trailblazer in Innovative Technology</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16d9fd877602d5604bc3a69593badfdf\" tg-width=\"640\" tg-height=\"262\"><span>Source:ir.nio.com</span></p>\n<p>NIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fast and convenient solution to concerns over the typically limited travel range of EVs. Similar to a gas station, Power Swap is a battery swapping station that can swap a dead battery out for a fully charged one in under three minutes; a fully charged battery enables a NIO vehicle to travel up to 435 miles, which is more than double of the&nbsp;181-mile average travel range of electric vehicles&nbsp;currently available on the market. NIO owners have the option to subscribe to the“Battery as a Service” (“BaaS”)package, which is a monthly subscription service that provides NIO owners with flexible options for battery upgrades based on personal needs. The company currently offers a standard 75 kWh battery which enables a travel range of up to 310 miles on a full charge, and an enhanced 100 kWh battery which enables a travel range of up to 435 miles on a full charge; both are available for NIO owners to choose from on a month-to-month basis under BaaS. To date, there are&nbsp;more than 226 battery swapping stations&nbsp;across China, with more on the way following a recent&nbsp;strategic partnership agreement&nbsp;between NIO and Sinopec. NIO’s vehicles are also compatible with local competitor XPeng’s(NYSE:XPEV)1,140 vehicle charging stations available across 164 cities in China, which further enhances its existing network of charging infrastructure in place for NIO owners.</p>\n<p>In addition to the developed network of infrastructure needed to sustain NIO EVs in the long run, the company has also been working diligently on perfecting their autonomous driving and AI technology in order to remain competitive in the broader EV and tech space. NIO has already been performing testing on its autonomous driving systems since 2016, with their first testing on public roads in Beijing performed in 2018. The company’s commitment to the future of passenger transportation is also proven through their development of&nbsp;EVE, the brand’s concept car for autonomous driving which encompasses a luxurious, comfortable and safe experience powered by NIO’s&nbsp;NOMI AI, the world’s first in-vehicle artificial intelligence.</p>\n<p>To further enhance their progress in autonomous driving technology, NIO has recently&nbsp;partnered with Mobileye&nbsp;– an Intel-owned(NASDAQ:INTC)company known for developing the “EyeQ chip” currently used by more than 27 car manufacturers for their assisted-driving technologies – to develop and commercialize driving automation that does not require human interaction (i.e. “level 4” autonomous driving). Their collaboration is expected to accelerate NIO’s launch of the “Autonomous Driving as a Service” (“ADaaS”) package, which is a monthly subscription for their autonomous driving technology, “NIO Autonomous Driving” (“NAD”). However, similar to Tesla’s “Full Self-Driving” package, the NAD technology that is expected to launch in 2022 does not yet make NIO vehicles capable of driving without human intervention, but it does catapult NIO to a comparable spot with industry leader Tesla in the race towards level 4 autonomous driving. NIO owners will have the option to subscribe to ADaaS for a monthly subscription fee of RMB 680. With more than 102,000 NIO vehicles on the road today, the new subscription package is expected to generate incremental annual sales of RMB 840 million ($132 million); the additional revenue stream is valued at approximately RMB 10 billion ($1.6 billion) upon the service’s inception, assuming an average vehicle life of 12 years with most existing NIO owners signing up.</p>\n<p>NIO’s continuous developments in autonomous driving technology are expected to benefit the company and its shareholders greatly in the near future. By 2025, the global autonomous cars market will become one of the fastest growing and most highly demanded segments with an&nbsp;estimated value of $1.6 trillion. A 6% share of this market would add a valuation of at least $100 billion to NIO’s existing $67 billion market cap, boosting its per unit share value to more than $100. Considering NIO is currently one of the very few fully electric automakers to have achieved tangible results within the autonomous driving scene, and is actively growing its overseas sales, we are confident that the company is capable of capturing more than 6% of the said market share, and achieve a per unit share price of more than $100 by 2025 with ease. Combined with the global shift in consumer preference towards electrification and automation, we are projecting vehicle sales of approximately 300,000 units by FY 2025, which will yield total revenues of approximately RMB 140 billion ($22 billion).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b6c800a04e6df92802f6893d214eecdd\" tg-width=\"640\" tg-height=\"213\"><span>Source: Author, with data from our internal forecasts (NIO_-_Forecasted_Financial_Information.pdf).</span></p>\n<p><b>Global Expansion</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/537449f8f7ee9c736b48c1776cbb7259\" tg-width=\"640\" tg-height=\"249\"><span>Source: ir.nio.com</span></p>\n<p>Another catalyst that will propel NIO’s share price beyond $100 is their ongoing overseas expansion efforts. NIO has been transparent about their intentions to expand globally, especially in the U.S. and Europe, as part of their plans in becoming an industry leader. NIO will be opening its first&nbsp;overseas sales and service centre in Oslo, Norway&nbsp;in September. The brand’s footprint in Norway will further expand in 2022 with four more NIO stores to open in Bergen, Stavanger, Trondheim and Kristiansand. In addition to its direct sales and service centres, NIO will also be introducing a full charging map for Europe, starting with four NIO Power Swap stations in Norway to provide new NIO owners with the convenience and range that the brand builds its success on. NIO’s flagship SUV, the&nbsp;ES8, which currently retails at a&nbsp;starting price of approximately US$67,000, will be the first model introduced in the European market, with the brand’s newest full-size sedan, the&nbsp;ET7, to follow in 2022.</p>\n<p>With a proven sales track record in China’s luxury EV market, and specs comparable to the globally recognized Tesla, there is no reason for NIO to not succeed overseas. As mentioned in earlier sections, NIO’s vehicles have a driving range of up to 435 miles on a full charge, making it a desirable choice for potential European and American car owners looking for a reliable companion to accompany them on daily commutes to long road trips. The NIO exterior and interior designs are also modern, luxurious, and comparable to those preferred by the European and North American population. Combined with a diverse product line and price range, NIO is equipped to take on the increasing demands for EVs on a global scale.</p>\n<p><b>NIO’s Historical Performance</b></p>\n<p>Just a little more than a year ago, NIO’s share price hit an all-time low at under $2 amidst liquidity troubles despite continued vehicle sales. In mid-2020, the municipal government of Hefei, China came to NIO’s rescue with a&nbsp;capital injection of RMB 7 billion&nbsp;(approximately $1 billion). The arrangement resulted in the creation of “NIO China”, which serves as the operating entity that holds all of NIO’s core businesses and assets; NIO currently holds a 90.36% ownership interest in NIO China, while the “Hefei Strategic Investors” consortium holds the remainder 9.64%. The partnership became the company’s lifeline; the additional capital brought forth significant improvements to the company’s operations and vehicle sales, which were reflected in their strong financial performance and upward trend in share price in the summer of 2020. By the end of 2020’s second quarter, NIO’s share price rebounded by almost 20% on average after posting a 171% quarter-over-quarter increase in total revenues. The company’s share price more than tripled in 2020’s third quarter, averaging $15.40, and continued to climb towards its fourth quarter average of $38.70. By the end of the latest quarter ended March 31st, 2021, NIO’s share price averaged $50.97, and peaked at almost $62 in February which is more than 10x its&nbsp;IPO price in 2018. The company holds a market cap of more than $67 billion today, outgrowing its mere $1 billion market cap when it made its debut on the NYSE.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a1d7edb18c1762028ba54f617e1982\" tg-width=\"640\" tg-height=\"250\"><span>Source: Author, with data from ir.nio.com</span></p>\n<p>NIO’s fundamentals have also shown nothing but steady improvements since its share price peaked earlier this year before the&nbsp;growth stock sell-off in late February. Deliveries in 2021 have continued to accelerate exponentially, with first quarter deliveries of more than 20,000 vehicles, representing almost 50% of total deliveries made in 2020. The company continues to exhibit a promising outlook with more than 7,100 vehicles delivered in April, representing an increase of more than 125% year-over-year. NIO has also maintained positive cash flows from operating activities for the first quarter of 2021, thanks to the higher deliveries and effective cost-management measures which have amped up their gross profit margin to 19.5%, comparable with industry leaders like Tesla whose first quarter gross margins were 21%. As aforementioned, we are forecasting vehicle sales of close to 300,000 units by FY 2025, which translates to approximately RMB 140 billion ($22 billion) in total revenues ($18.60 per share). Our vehicle sales forecast for FY 2025 is further corroborated by the&nbsp;recently renewed manufacturing agreement&nbsp;with joint venturer “Jianghuai Automobile Group” (“JAC”), which increases the current annual production capacity of 100,000 units to 240,000 units; the ongoing construction of “NeoPark” in Hefei, China is also expected to add annual production capacity of 1 million units, which further supports our positive outlook on NIO’s continued commitment to grow its business. Considering industry peer Tesla’s current P/S ratio of 16.43x with approximately $42 billion in annual revenues (annualization of $10.389 billion in first quarter revenues), the same proportion applied to NIO’s forecasted FY 2025 total revenues is expected to yield a P/S ratio of 8.7x, resulting in a share price of more than $160.</p>\n<p><b>NIO vs. LI and XPEV</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/af8fa939f92be448d1f427a6ac4bfb25\" tg-width=\"640\" tg-height=\"352\"><span>Source: Finviz</span></p>\n<p>We have also compared NIO’s current P/S ratio to its domestic peers to gauge the timeline in which NIO’s share price will exceed $100. NIO currently trades at a P/S ratio of approximately 14.88x, while domestic industry peers, Li Auto(NASDAQ:LI)and XPEV, currently trade at a P/S ratio of 14.46x and 21.31x, respectively.</p>\n<p>Considering NIO’s technology, revenues, global footprint, and cash flows are stronger than LI’s and XPEV’s, the former deserves to be traded at a much higher multiple than the latter two. Even if NIO reaches a P/S ratio of 18.1x (mid-point to XPEV's), it will drive the company’s current share price up to $51.50, which represents an upside potential of 22% based on the last traded share price of $42.34 (June 1st). And based on our forecasted revenues for FY 2025 for NIO of RMB 140 billion ($22 billion), or $18.60 per share, even a multiple half of the 18.1x would be more than sufficient to bring NIO's share price beyond $160 by 2025; we believe the trading multiple is achievable for NIO given the cash from operations and technological advancements achieved by then would place them on a trajectory of continued long-term growth within the EV industry, which is expected to continue into 2030 and beyond when the brand's level 4 autonomous driving technology development is complete and commercialized.</p>\n<p><b>Business Risks and Challenges</b></p>\n<p>As mentioned in one of my&nbsp;previous articles on NIO, the “Holding Foreign Companies Accountable Act” (“HFCA Act”) remains one of the most significant impending threats to the company’s share price. Currently, public accounting firms in China are non-compliant with PCAOB inspection rules required by the SEC, and the enactment of the HFCA Act in December 2020 requires that these public accounting firms comply with PCAOB inspection requests within three years of the enactment date; otherwise, all public companies audited by said firms will be subject to risks of de-listing. NIO is currently audited by PricewaterhouseCoopers Zhong Tian LLP, which is on PCAOB’s&nbsp;denied-access list. The potential threat of being delisted from the NYSE could be a deterrence factor to investors and ultimately hemorrhage NIO’s share price in the long run if Chinese authorities and the PCAOB cannot reach an agreement on conducting inspections soon.</p>\n<p>Another imminent challenge to NIO’s business is the ongoing global chip supply shortage. As the automotive industry becomes more dependent on chips to manage every function of their vehicles, the gap between automaker demands and chip manufacturer supplies is widened. NIO was no exception to the impacts of the ongoing chip supply crisis – in March 2021, NIO halted their production activity at the JAC-NIO manufacturing plant for five working days in order to adjust their production levels. However, the company continues to effectively navigate through the situation as proven through their increasing number of deliveries month-over-month; in NIO’s latest delivery update press release for April, the company has continued to keep up with market demand with more than 7,100 vehicle deliveries made, representing a 125% year-over-year growth.</p>\n<p>Competition within the EV sector has also ramped up in recent years. Consumer attitude towards EVs has changed drastically in the past decade due to rising concerns over climate change met with price parity between traditional petrol-fueled vehicles and EVs. The entry barrier for emerging EV makers has also lowered significantly as car battery solutions become more accessible through third-party OEMs; new entrants are now keener on participating in the profitable opportunity within the growing EV sector as initial investments become more reasonable than it was for Tesla in 2003 when EVs were still just a concept to many. In addition to new entrants, traditional petrol-fueled automakers like Ford(NYSE:F)have also started to incorporate fully battery-powered vehicles into their fleet in order to meet evolving consumer demands and remain competitive within the automotive industry. However, we believe NIO possesses the brand, customer experience, production strategy, talent and business model (further analyzedhere) needed to remain successful within the new competitive landscape in the long run.</p>\n<p><b>Conclusion</b></p>\n<p>NIO has already established a strong brand presence within the domestic Chinese market, which is currently one of the fastest growing EV markets, representing more than 40% of global EV sales in 2020. Combined with their proven ability to produce quality EVs, construct innovative charging infrastructure, achieve breakthrough progress in the development of autonomous driving technology, and execute their overseas expansion strategy, NIO is effectively narrowing the gap between them and Tesla within the EV sector on a global scale. We are confident that the next five years will be a transformational era for the EV and tech company due to increasing demands for electrification and automation within the automotive industry, which NIO has already proven to excel in. The value of its continued achievements will be reflected in its share price in no time, making them a worthy stock pick for those looking to profit off of the impending age of green transition and automation.</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>Can NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'</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\">\nCan NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-05 12:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4432901-nio-stock-reach-100><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nNIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.\nThe company's innovative approach and...</p>\n\n<a href=\"https://seekingalpha.com/article/4432901-nio-stock-reach-100\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4432901-nio-stock-reach-100","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148130971","content_text":"Summary\n\nNIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.\nThe company's innovative approach and overseas expansion strategy, combined with the growing market sentiment on global electrification and automation are expected to boost the company's valuation.\nWe believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.\n\nPhoto by Drew Angerer/Getty Images News via Getty Images\nDespite it being a local Chinese electric vehicle (“EV”) brand that has only recently started its overseas expansion into Europe, NIO(NYSE:NIO)has already garnered significant international attention amidst avid investors within the EV sector in recent years. It has only been three short years since NIO made its first deliveries in mid-2018, yet many are already wondering whether its share price can reach similar heights as an industry leader, Tesla’s(NASDAQ:TSLA). Albeit a little farfetched given Tesla is currently trading at more than $600 per share with a market cap of more than $600 billion, we do believe NIO has promising potential to break $100 per share before 2025. Even Wall Street Analysts remain optimistic about the company’s future by assigning a price target of close to $60, which represents upward potential of more than 35% based on the last traded share price of $42.34 (June 1st).\nFounded in 2014, NIO has sold and delivered more than 100,000 vehicles in China to date. The company boasts a fleet of five emission-free, fully battery-powered models, ranging from sports cars to luxury sedans and full-size SUVs. In addition to their vehicles, NIO is also known for their significant progress achieved in innovative technology, including state-of-the-art battery solutions, artificial intelligence, and autonomous driving. The company has also recently turned their global expansion plans into reality, with the first overseas NIO store to open in Oslo, Norway in Q3 2021. We believe that reaching a share price of $100 is no longer a question of “if”, but instead, “when”.\nA Trailblazer in Innovative Technology\nSource:ir.nio.com\nNIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fast and convenient solution to concerns over the typically limited travel range of EVs. Similar to a gas station, Power Swap is a battery swapping station that can swap a dead battery out for a fully charged one in under three minutes; a fully charged battery enables a NIO vehicle to travel up to 435 miles, which is more than double of the 181-mile average travel range of electric vehicles currently available on the market. NIO owners have the option to subscribe to the“Battery as a Service” (“BaaS”)package, which is a monthly subscription service that provides NIO owners with flexible options for battery upgrades based on personal needs. The company currently offers a standard 75 kWh battery which enables a travel range of up to 310 miles on a full charge, and an enhanced 100 kWh battery which enables a travel range of up to 435 miles on a full charge; both are available for NIO owners to choose from on a month-to-month basis under BaaS. To date, there are more than 226 battery swapping stations across China, with more on the way following a recent strategic partnership agreement between NIO and Sinopec. NIO’s vehicles are also compatible with local competitor XPeng’s(NYSE:XPEV)1,140 vehicle charging stations available across 164 cities in China, which further enhances its existing network of charging infrastructure in place for NIO owners.\nIn addition to the developed network of infrastructure needed to sustain NIO EVs in the long run, the company has also been working diligently on perfecting their autonomous driving and AI technology in order to remain competitive in the broader EV and tech space. NIO has already been performing testing on its autonomous driving systems since 2016, with their first testing on public roads in Beijing performed in 2018. The company’s commitment to the future of passenger transportation is also proven through their development of EVE, the brand’s concept car for autonomous driving which encompasses a luxurious, comfortable and safe experience powered by NIO’s NOMI AI, the world’s first in-vehicle artificial intelligence.\nTo further enhance their progress in autonomous driving technology, NIO has recently partnered with Mobileye – an Intel-owned(NASDAQ:INTC)company known for developing the “EyeQ chip” currently used by more than 27 car manufacturers for their assisted-driving technologies – to develop and commercialize driving automation that does not require human interaction (i.e. “level 4” autonomous driving). Their collaboration is expected to accelerate NIO’s launch of the “Autonomous Driving as a Service” (“ADaaS”) package, which is a monthly subscription for their autonomous driving technology, “NIO Autonomous Driving” (“NAD”). However, similar to Tesla’s “Full Self-Driving” package, the NAD technology that is expected to launch in 2022 does not yet make NIO vehicles capable of driving without human intervention, but it does catapult NIO to a comparable spot with industry leader Tesla in the race towards level 4 autonomous driving. NIO owners will have the option to subscribe to ADaaS for a monthly subscription fee of RMB 680. With more than 102,000 NIO vehicles on the road today, the new subscription package is expected to generate incremental annual sales of RMB 840 million ($132 million); the additional revenue stream is valued at approximately RMB 10 billion ($1.6 billion) upon the service’s inception, assuming an average vehicle life of 12 years with most existing NIO owners signing up.\nNIO’s continuous developments in autonomous driving technology are expected to benefit the company and its shareholders greatly in the near future. By 2025, the global autonomous cars market will become one of the fastest growing and most highly demanded segments with an estimated value of $1.6 trillion. A 6% share of this market would add a valuation of at least $100 billion to NIO’s existing $67 billion market cap, boosting its per unit share value to more than $100. Considering NIO is currently one of the very few fully electric automakers to have achieved tangible results within the autonomous driving scene, and is actively growing its overseas sales, we are confident that the company is capable of capturing more than 6% of the said market share, and achieve a per unit share price of more than $100 by 2025 with ease. Combined with the global shift in consumer preference towards electrification and automation, we are projecting vehicle sales of approximately 300,000 units by FY 2025, which will yield total revenues of approximately RMB 140 billion ($22 billion).\nSource: Author, with data from our internal forecasts (NIO_-_Forecasted_Financial_Information.pdf).\nGlobal Expansion\nSource: ir.nio.com\nAnother catalyst that will propel NIO’s share price beyond $100 is their ongoing overseas expansion efforts. NIO has been transparent about their intentions to expand globally, especially in the U.S. and Europe, as part of their plans in becoming an industry leader. NIO will be opening its first overseas sales and service centre in Oslo, Norway in September. The brand’s footprint in Norway will further expand in 2022 with four more NIO stores to open in Bergen, Stavanger, Trondheim and Kristiansand. In addition to its direct sales and service centres, NIO will also be introducing a full charging map for Europe, starting with four NIO Power Swap stations in Norway to provide new NIO owners with the convenience and range that the brand builds its success on. NIO’s flagship SUV, the ES8, which currently retails at a starting price of approximately US$67,000, will be the first model introduced in the European market, with the brand’s newest full-size sedan, the ET7, to follow in 2022.\nWith a proven sales track record in China’s luxury EV market, and specs comparable to the globally recognized Tesla, there is no reason for NIO to not succeed overseas. As mentioned in earlier sections, NIO’s vehicles have a driving range of up to 435 miles on a full charge, making it a desirable choice for potential European and American car owners looking for a reliable companion to accompany them on daily commutes to long road trips. The NIO exterior and interior designs are also modern, luxurious, and comparable to those preferred by the European and North American population. Combined with a diverse product line and price range, NIO is equipped to take on the increasing demands for EVs on a global scale.\nNIO’s Historical Performance\nJust a little more than a year ago, NIO’s share price hit an all-time low at under $2 amidst liquidity troubles despite continued vehicle sales. In mid-2020, the municipal government of Hefei, China came to NIO’s rescue with a capital injection of RMB 7 billion (approximately $1 billion). The arrangement resulted in the creation of “NIO China”, which serves as the operating entity that holds all of NIO’s core businesses and assets; NIO currently holds a 90.36% ownership interest in NIO China, while the “Hefei Strategic Investors” consortium holds the remainder 9.64%. The partnership became the company’s lifeline; the additional capital brought forth significant improvements to the company’s operations and vehicle sales, which were reflected in their strong financial performance and upward trend in share price in the summer of 2020. By the end of 2020’s second quarter, NIO’s share price rebounded by almost 20% on average after posting a 171% quarter-over-quarter increase in total revenues. The company’s share price more than tripled in 2020’s third quarter, averaging $15.40, and continued to climb towards its fourth quarter average of $38.70. By the end of the latest quarter ended March 31st, 2021, NIO’s share price averaged $50.97, and peaked at almost $62 in February which is more than 10x its IPO price in 2018. The company holds a market cap of more than $67 billion today, outgrowing its mere $1 billion market cap when it made its debut on the NYSE.\nSource: Author, with data from ir.nio.com\nNIO’s fundamentals have also shown nothing but steady improvements since its share price peaked earlier this year before the growth stock sell-off in late February. Deliveries in 2021 have continued to accelerate exponentially, with first quarter deliveries of more than 20,000 vehicles, representing almost 50% of total deliveries made in 2020. The company continues to exhibit a promising outlook with more than 7,100 vehicles delivered in April, representing an increase of more than 125% year-over-year. NIO has also maintained positive cash flows from operating activities for the first quarter of 2021, thanks to the higher deliveries and effective cost-management measures which have amped up their gross profit margin to 19.5%, comparable with industry leaders like Tesla whose first quarter gross margins were 21%. As aforementioned, we are forecasting vehicle sales of close to 300,000 units by FY 2025, which translates to approximately RMB 140 billion ($22 billion) in total revenues ($18.60 per share). Our vehicle sales forecast for FY 2025 is further corroborated by the recently renewed manufacturing agreement with joint venturer “Jianghuai Automobile Group” (“JAC”), which increases the current annual production capacity of 100,000 units to 240,000 units; the ongoing construction of “NeoPark” in Hefei, China is also expected to add annual production capacity of 1 million units, which further supports our positive outlook on NIO’s continued commitment to grow its business. Considering industry peer Tesla’s current P/S ratio of 16.43x with approximately $42 billion in annual revenues (annualization of $10.389 billion in first quarter revenues), the same proportion applied to NIO’s forecasted FY 2025 total revenues is expected to yield a P/S ratio of 8.7x, resulting in a share price of more than $160.\nNIO vs. LI and XPEV\nSource: Finviz\nWe have also compared NIO’s current P/S ratio to its domestic peers to gauge the timeline in which NIO’s share price will exceed $100. NIO currently trades at a P/S ratio of approximately 14.88x, while domestic industry peers, Li Auto(NASDAQ:LI)and XPEV, currently trade at a P/S ratio of 14.46x and 21.31x, respectively.\nConsidering NIO’s technology, revenues, global footprint, and cash flows are stronger than LI’s and XPEV’s, the former deserves to be traded at a much higher multiple than the latter two. Even if NIO reaches a P/S ratio of 18.1x (mid-point to XPEV's), it will drive the company’s current share price up to $51.50, which represents an upside potential of 22% based on the last traded share price of $42.34 (June 1st). And based on our forecasted revenues for FY 2025 for NIO of RMB 140 billion ($22 billion), or $18.60 per share, even a multiple half of the 18.1x would be more than sufficient to bring NIO's share price beyond $160 by 2025; we believe the trading multiple is achievable for NIO given the cash from operations and technological advancements achieved by then would place them on a trajectory of continued long-term growth within the EV industry, which is expected to continue into 2030 and beyond when the brand's level 4 autonomous driving technology development is complete and commercialized.\nBusiness Risks and Challenges\nAs mentioned in one of my previous articles on NIO, the “Holding Foreign Companies Accountable Act” (“HFCA Act”) remains one of the most significant impending threats to the company’s share price. Currently, public accounting firms in China are non-compliant with PCAOB inspection rules required by the SEC, and the enactment of the HFCA Act in December 2020 requires that these public accounting firms comply with PCAOB inspection requests within three years of the enactment date; otherwise, all public companies audited by said firms will be subject to risks of de-listing. NIO is currently audited by PricewaterhouseCoopers Zhong Tian LLP, which is on PCAOB’s denied-access list. The potential threat of being delisted from the NYSE could be a deterrence factor to investors and ultimately hemorrhage NIO’s share price in the long run if Chinese authorities and the PCAOB cannot reach an agreement on conducting inspections soon.\nAnother imminent challenge to NIO’s business is the ongoing global chip supply shortage. As the automotive industry becomes more dependent on chips to manage every function of their vehicles, the gap between automaker demands and chip manufacturer supplies is widened. NIO was no exception to the impacts of the ongoing chip supply crisis – in March 2021, NIO halted their production activity at the JAC-NIO manufacturing plant for five working days in order to adjust their production levels. However, the company continues to effectively navigate through the situation as proven through their increasing number of deliveries month-over-month; in NIO’s latest delivery update press release for April, the company has continued to keep up with market demand with more than 7,100 vehicle deliveries made, representing a 125% year-over-year growth.\nCompetition within the EV sector has also ramped up in recent years. Consumer attitude towards EVs has changed drastically in the past decade due to rising concerns over climate change met with price parity between traditional petrol-fueled vehicles and EVs. The entry barrier for emerging EV makers has also lowered significantly as car battery solutions become more accessible through third-party OEMs; new entrants are now keener on participating in the profitable opportunity within the growing EV sector as initial investments become more reasonable than it was for Tesla in 2003 when EVs were still just a concept to many. In addition to new entrants, traditional petrol-fueled automakers like Ford(NYSE:F)have also started to incorporate fully battery-powered vehicles into their fleet in order to meet evolving consumer demands and remain competitive within the automotive industry. However, we believe NIO possesses the brand, customer experience, production strategy, talent and business model (further analyzedhere) needed to remain successful within the new competitive landscape in the long run.\nConclusion\nNIO has already established a strong brand presence within the domestic Chinese market, which is currently one of the fastest growing EV markets, representing more than 40% of global EV sales in 2020. Combined with their proven ability to produce quality EVs, construct innovative charging infrastructure, achieve breakthrough progress in the development of autonomous driving technology, and execute their overseas expansion strategy, NIO is effectively narrowing the gap between them and Tesla within the EV sector on a global scale. We are confident that the next five years will be a transformational era for the EV and tech company due to increasing demands for electrification and automation within the automotive industry, which NIO has already proven to excel in. The value of its continued achievements will be reflected in its share price in no time, making them a worthy stock pick for those looking to profit off of the impending age of green transition and automation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372726694,"gmtCreate":1619245921818,"gmtModify":1704721807105,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"interesting","listText":"interesting","text":"interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/372726694","repostId":"1166519043","repostType":4,"repost":{"id":"1166519043","pubTimestamp":1619192700,"share":"https://ttm.financial/m/news/1166519043?lang=&edition=fundamental","pubTime":"2021-04-23 23:45","market":"us","language":"en","title":"Tesla Stock Split: Will It Happen Again?","url":"https://stock-news.laohu8.com/highlight/detail?id=1166519043","media":"seekingalpha","summary":"Tesla not only has to contend with pure-play EV-makers. It will also face new entrants such as Apple and Chinese smartphone makers Huawei and Xiaomi.More traditional automakers will also be producing electric vehicles. Even if the demand side is plausible, it would mean Tesla needs to build many more factories.However, if analysts are right that Tesla's true potential lies in a future rollout of an autonomous ride-hailing fleet, its share price has much room to head north based on the consensus ","content":"<p><b>Summary</b></p>\n<ul>\n <li>Tesla not only has to contend with pure-play EV-makers. It will also face new entrants such as Apple and Chinese smartphone makers Huawei and Xiaomi.</li>\n <li>More traditional automakers will also be producing electric vehicles. Even if the demand side is plausible, it would mean Tesla needs to build many more factories.</li>\n <li>It's a high chance that a great number of new plants would be in China which carries plenty of geopolitical risks. The headwinds from the uncertainties could suppress TSLA stock.</li>\n <li>However, if analysts are right that Tesla's true potential lies in a future rollout of an autonomous ride-hailing fleet, its share price has much room to head north based on the consensus projections.</li>\n <li>Tesla could consider another stock split to get&nbsp;\"more people in the stock.\" Past experiences suggest the EV titan could do one before the share price hit quadruple-digit again.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/59edf6c2b70d6c984dc825b7567439bc\" tg-width=\"768\" tg-height=\"512\"><span>Photo by Spencer Platt/Getty Images News via Getty Images</span></p>\n<p><b>TSLA stock is poised to rise in line with its business growth</b></p>\n<p>In a recent article titled&nbsp;<i>Who Will Be The Biggest Competitors By 2025</i>, I questioned certain projections regarding Tesla's (TSLA) car sales. Some estimates implied that Tesla would take a lion's share of the EV market despite the rapid increase in the number of competitors.</p>\n<p>By 2025, Tesla not only has to contend with pure-play EV-makers. It will also face new entrants such as Apple Inc. (AAPL) as well as Chinese smartphone giants Huawei and Xiaomi Corporation (OTC:XIACF)(OTCPK:XIACY). More traditional automakers will also be producing electric vehicles, even as they continue to churn out internal combustion engine-based cars.</p>\n<p>Even if the demand side is plausible, it would mean Tesla, Inc. needs to build many more factories. Given the effusive praise we have heard from Elon Musk regarding the speed of factory construction and on China in general, we could expect additional new plants to be cited in the populous country. That could add more&nbsp;geopolitical risks&nbsp;to the stock, as SA author John Engle argued.</p>\n<p>Then again, as many readers on Seeking Alpha, analysts, and Cathie Wood have postulated, Tesla's true potential lies in a future rollout of an autonomous ride-hailing fleet. Consequently, Tesla's revenue is projected to rise from $31.54 billion in 2020 to a whopping $388.52 billion on a consensus basis in 2030. That would bring the price-to-sales ratio to a mere 1.84 times on a forward basis.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fac352f9c2ac9bac0412ed076c27c75a\" tg-width=\"640\" tg-height=\"368\"><span>Source: Seeking Alpha Premium</span></p>\n<p>If Tesla did not disappoint the most bullish of the optimists forecasting its revenue to hit $600.7 billion in 2030, its P/S ratio would drop even lower to 1.19 times! You might say, all that sales are wonderful but what does their profitability look like? Well, the analysts believe TSLA would make boatloads of money. The consensus EPS estimate for 2030 is $33.48, a massive jump from the $0.64 it achieved in 2020. If the 2030 EPS estimate is realized, those earnings at today's price would reflect a ratio of 22.2 times, which could be seen as incredibly low.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7650450aa6230d6585a502b571ee3652\" tg-width=\"640\" tg-height=\"278\"><span>Source: Seeking Alpha Premium</span></p>\n<p>With EV sales projected by industry consultancy Canalys to remain below 50 percent of the total car sales by 2030, there remains significant growth potential for Tesla to increase its revenue. As such, assuming the analysts are correct, the share price of TSLA will not stay at the present level for the P/S ratio to be just 1.84 times and the P/E ratio at 22.2 times, the share price of TSLA would rise further than where it stands today.</p>\n<p><img src=\"https://static.tigerbbs.com/0cd810d4171606b50d186b8d9bf10bf5\" tg-width=\"640\" tg-height=\"479\"></p>\n<p>Tesla stock split history: What was Tesla's stock price before the recent split?</p>\n<p>In other words, Tesla's share price would continue to rise over the next five to ten years. With that in mind, the question is, will TSLA split again? Before discussing that, let's review Tesla's previous split.</p>\n<p>On August 11, 2020, Tesla&nbsp;announced, after the market closed, that its board approved a five-for-one split of shares to \"make stock ownership more accessible to employees and investors.\" This marked Tesla's first-ever split announcement. The stock jumped from a pre-split price of $1374.4 to as high as $1585 the next day before closing at $1554.75. TSLA went on to clock further gains the rest of the month, appreciating over 80 percent by the end of August 2020.</p>\n<p><img src=\"https://static.tigerbbs.com/c1b22a860341fe3bf36996d737680ddb\" tg-width=\"640\" tg-height=\"485\"></p>\n<p><b>How did Tesla's most recent stock split affect share prices?</b></p>\n<p>Interestingly, after the split was affected, Tesla stock lost much of the August gains in just a few trading sessions in early September. The share price decline was speculated by some to be due to shareholders paring their holdings since the split had resulted in them holding more TSLA shares. This seems logical as the purpose of the split was to accord shareholders with greater \"liquidity\" over their TSLA holding.</p>\n<p>However, the weakness in Tesla's share price was more likely attributable to a capital-raising exercise&nbsp;announced&nbsp;pre-market on September 1, 2020. Although only up to $5 billion worth of shares representing just over 1 percent of Tesla's market cap were to be sold, investors were probably looking for a trigger to take profit considering that TSLA was running in overbought territory for more than two weeks, according to the relative strength index [RSI] momentum indicator at that time.</p>\n<p>TSLA's strong run upwards had also led to the stock becoming \"overweight\" on many shareholders' portfolios. Ironically, that meant investors, whether individuals or fund managers had to reduce their Tesla holdings to avoid concentration risk. For funds with concentration guidelines or rules, it's not even a choice but a&nbsp;mandatory reduction&nbsp;exercise once the Tesla position became outsized.</p>\n<p>To make matters worse, Tesla stock was subsequently dragged down further into correction territory amid a sell-off by investors of tech favorites and \"all things frothy.\" The share price recovered some grounds quickly but the stock stagnated for a few months thereafter before a&nbsp;powerful wave of EV hypeswept TSLA up again to new heights.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/085a34d7256fb764f0652d6223057202\" tg-width=\"640\" tg-height=\"267\"><span>Source: Yahoo Finance</span></p>\n<p><b>When will Tesla stock split again?</b></p>\n<p>Although Tesla's share price has pulled back from the peak earlier in the year, it remains much higher than the post-split level last year. At $744.12 at the time of writing, TSLA is 49 percent higher than the $498.32 close on August 31, 2020, the day of the stock split.</p>\n<p>If the past is any reference, Tesla executives did the stock split when the share price was in quadruple-digit. TSLA will need to rise more than 34 percent for that to happen again. As I opined earlier, Tesla stock appears to be poised for further upside. I believe it's more of a question of when, not if, will TSLA hit above $1,000 per share.</p>\n<p>Nevertheless, even in the current investing environment where there are platforms allowing the trading of fractional shares, there are still benefits for stocks with smaller prices. One obvious advantage is the impact on psychology, as the mind interprets low prices as \"cheaply valued\" and having room to head north.</p>\n<p>The leadership at Apple must be thinking the same as the folks at Tesla when the company executed its stock split around the same time as the EV giant last August. The share price appreciation from pre-announcement to post-stock split date was less spectacular compared to Tesla but still a hefty 41 percent.</p>\n<p><img src=\"https://static.tigerbbs.com/46bd0bed00b03ba1d738fd84c9dfb0dc\" tg-width=\"640\" tg-height=\"483\"></p>\n<p>Considering that Apple&nbsp;announced&nbsp;a stock split when the share price was much lower at $384.76, it goes to show there's value in considering a split in the stock even without the share price hitting quadruple-digit. Furthermore, AAPL has done this four times before - in 1987, 2000, 2005, and 2014 - when the share prices were all below $1,000. In 1987 and 2005, the stock was even trading at the sub-$100 level when the company did the split.</p>\n<p>Jim Cramer was quoted as saying during an interview last year that Tim Cook explained the 2020 stock split to him, telling him that he wanted \"more people in the stock.\" I suppose that's what Bill Gates and his team thought when the software giant performed eight stock splits from the listing of Microsoft (MSFT) until 1999 as MSFT climbed exponentially during the period. Elon Musk and Tim Cook are the odd couple but I believe the former would agree on having \"more people\" in TSLA stock.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/44957db620e86907bb72e9691bc726e6\" tg-width=\"640\" tg-height=\"250\"><span>Source: Yahoo Finance</span></p>\n<p><b>Should you buy Tesla now or wait for a split?</b></p>\n<p>Video-streaming leader Netflix (NFLX) announced a seven-for-one stock split in 2015 when its share was around $700 pre-split. NFLX went on to do very well though it's very much due to its business success than a simple cosmetic stock split exercise. The point of bringing this up is that Tesla's share price is around where Netflix's share price was when the split was completed.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3cbb0c9bd178401bc6cc863a0934af2\" tg-width=\"640\" tg-height=\"271\"><span>Source: Yahoo Finance</span></p>\n<p>Although Amazon.com, Inc. (AMZN) and Alphabet Inc. (GOOGL)(GOOG) are the odd tech companies trading at quadruple-digit levels, most others are trading in the triple-digit or smaller. With the favorable experience from the previous stock split, Tesla might not want to wait for the share price to hit quadruple-digit again before contemplating another split.</p>\n<p>Furthermore, there is&nbsp;existing literature&nbsp;that reveals a strong correlation between stock splits and \"outstanding stock price performance\", giving Tesla the impetus to do so. Another potential trigger point for Elon Musk to announce a stock split could be when TSLA hit $840 per share. He would be able to claim that the company would do a two-for-one split so that the share price becomes $420 post-split.</p>\n<p>Of course, the share price wouldn't stay flat from the announcement date until the effective date. Nonetheless, the media would have gone into overdrive covering the announcement and speculating about the number's link to weed as well as Elon's past brush with the securities law on his previous take-Tesla-private-at-$420 claim. This would generate plenty of free publicity for the company.</p>\n<p>However, investors should not hang around for a stock split if they are intending to own shares in Tesla. It may not happen and the share price could still zoom upwards on speculations, improving sentiment, or due to business fundamentals.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Split: Will It Happen Again?</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 Stock Split: Will It Happen Again?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4420899-tesla-stock-split-will-it-happen-again><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nTesla not only has to contend with pure-play EV-makers. It will also face new entrants such as Apple and Chinese smartphone makers Huawei and Xiaomi.\nMore traditional automakers will also be ...</p>\n\n<a href=\"https://seekingalpha.com/article/4420899-tesla-stock-split-will-it-happen-again\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4420899-tesla-stock-split-will-it-happen-again","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1166519043","content_text":"Summary\n\nTesla not only has to contend with pure-play EV-makers. It will also face new entrants such as Apple and Chinese smartphone makers Huawei and Xiaomi.\nMore traditional automakers will also be producing electric vehicles. Even if the demand side is plausible, it would mean Tesla needs to build many more factories.\nIt's a high chance that a great number of new plants would be in China which carries plenty of geopolitical risks. The headwinds from the uncertainties could suppress TSLA stock.\nHowever, if analysts are right that Tesla's true potential lies in a future rollout of an autonomous ride-hailing fleet, its share price has much room to head north based on the consensus projections.\nTesla could consider another stock split to get \"more people in the stock.\" Past experiences suggest the EV titan could do one before the share price hit quadruple-digit again.\n\nPhoto by Spencer Platt/Getty Images News via Getty Images\nTSLA stock is poised to rise in line with its business growth\nIn a recent article titled Who Will Be The Biggest Competitors By 2025, I questioned certain projections regarding Tesla's (TSLA) car sales. Some estimates implied that Tesla would take a lion's share of the EV market despite the rapid increase in the number of competitors.\nBy 2025, Tesla not only has to contend with pure-play EV-makers. It will also face new entrants such as Apple Inc. (AAPL) as well as Chinese smartphone giants Huawei and Xiaomi Corporation (OTC:XIACF)(OTCPK:XIACY). More traditional automakers will also be producing electric vehicles, even as they continue to churn out internal combustion engine-based cars.\nEven if the demand side is plausible, it would mean Tesla, Inc. needs to build many more factories. Given the effusive praise we have heard from Elon Musk regarding the speed of factory construction and on China in general, we could expect additional new plants to be cited in the populous country. That could add more geopolitical risks to the stock, as SA author John Engle argued.\nThen again, as many readers on Seeking Alpha, analysts, and Cathie Wood have postulated, Tesla's true potential lies in a future rollout of an autonomous ride-hailing fleet. Consequently, Tesla's revenue is projected to rise from $31.54 billion in 2020 to a whopping $388.52 billion on a consensus basis in 2030. That would bring the price-to-sales ratio to a mere 1.84 times on a forward basis.\nSource: Seeking Alpha Premium\nIf Tesla did not disappoint the most bullish of the optimists forecasting its revenue to hit $600.7 billion in 2030, its P/S ratio would drop even lower to 1.19 times! You might say, all that sales are wonderful but what does their profitability look like? Well, the analysts believe TSLA would make boatloads of money. The consensus EPS estimate for 2030 is $33.48, a massive jump from the $0.64 it achieved in 2020. If the 2030 EPS estimate is realized, those earnings at today's price would reflect a ratio of 22.2 times, which could be seen as incredibly low.\nSource: Seeking Alpha Premium\nWith EV sales projected by industry consultancy Canalys to remain below 50 percent of the total car sales by 2030, there remains significant growth potential for Tesla to increase its revenue. As such, assuming the analysts are correct, the share price of TSLA will not stay at the present level for the P/S ratio to be just 1.84 times and the P/E ratio at 22.2 times, the share price of TSLA would rise further than where it stands today.\n\nTesla stock split history: What was Tesla's stock price before the recent split?\nIn other words, Tesla's share price would continue to rise over the next five to ten years. With that in mind, the question is, will TSLA split again? Before discussing that, let's review Tesla's previous split.\nOn August 11, 2020, Tesla announced, after the market closed, that its board approved a five-for-one split of shares to \"make stock ownership more accessible to employees and investors.\" This marked Tesla's first-ever split announcement. The stock jumped from a pre-split price of $1374.4 to as high as $1585 the next day before closing at $1554.75. TSLA went on to clock further gains the rest of the month, appreciating over 80 percent by the end of August 2020.\n\nHow did Tesla's most recent stock split affect share prices?\nInterestingly, after the split was affected, Tesla stock lost much of the August gains in just a few trading sessions in early September. The share price decline was speculated by some to be due to shareholders paring their holdings since the split had resulted in them holding more TSLA shares. This seems logical as the purpose of the split was to accord shareholders with greater \"liquidity\" over their TSLA holding.\nHowever, the weakness in Tesla's share price was more likely attributable to a capital-raising exercise announced pre-market on September 1, 2020. Although only up to $5 billion worth of shares representing just over 1 percent of Tesla's market cap were to be sold, investors were probably looking for a trigger to take profit considering that TSLA was running in overbought territory for more than two weeks, according to the relative strength index [RSI] momentum indicator at that time.\nTSLA's strong run upwards had also led to the stock becoming \"overweight\" on many shareholders' portfolios. Ironically, that meant investors, whether individuals or fund managers had to reduce their Tesla holdings to avoid concentration risk. For funds with concentration guidelines or rules, it's not even a choice but a mandatory reduction exercise once the Tesla position became outsized.\nTo make matters worse, Tesla stock was subsequently dragged down further into correction territory amid a sell-off by investors of tech favorites and \"all things frothy.\" The share price recovered some grounds quickly but the stock stagnated for a few months thereafter before a powerful wave of EV hypeswept TSLA up again to new heights.\nSource: Yahoo Finance\nWhen will Tesla stock split again?\nAlthough Tesla's share price has pulled back from the peak earlier in the year, it remains much higher than the post-split level last year. At $744.12 at the time of writing, TSLA is 49 percent higher than the $498.32 close on August 31, 2020, the day of the stock split.\nIf the past is any reference, Tesla executives did the stock split when the share price was in quadruple-digit. TSLA will need to rise more than 34 percent for that to happen again. As I opined earlier, Tesla stock appears to be poised for further upside. I believe it's more of a question of when, not if, will TSLA hit above $1,000 per share.\nNevertheless, even in the current investing environment where there are platforms allowing the trading of fractional shares, there are still benefits for stocks with smaller prices. One obvious advantage is the impact on psychology, as the mind interprets low prices as \"cheaply valued\" and having room to head north.\nThe leadership at Apple must be thinking the same as the folks at Tesla when the company executed its stock split around the same time as the EV giant last August. The share price appreciation from pre-announcement to post-stock split date was less spectacular compared to Tesla but still a hefty 41 percent.\n\nConsidering that Apple announced a stock split when the share price was much lower at $384.76, it goes to show there's value in considering a split in the stock even without the share price hitting quadruple-digit. Furthermore, AAPL has done this four times before - in 1987, 2000, 2005, and 2014 - when the share prices were all below $1,000. In 1987 and 2005, the stock was even trading at the sub-$100 level when the company did the split.\nJim Cramer was quoted as saying during an interview last year that Tim Cook explained the 2020 stock split to him, telling him that he wanted \"more people in the stock.\" I suppose that's what Bill Gates and his team thought when the software giant performed eight stock splits from the listing of Microsoft (MSFT) until 1999 as MSFT climbed exponentially during the period. Elon Musk and Tim Cook are the odd couple but I believe the former would agree on having \"more people\" in TSLA stock.\nSource: Yahoo Finance\nShould you buy Tesla now or wait for a split?\nVideo-streaming leader Netflix (NFLX) announced a seven-for-one stock split in 2015 when its share was around $700 pre-split. NFLX went on to do very well though it's very much due to its business success than a simple cosmetic stock split exercise. The point of bringing this up is that Tesla's share price is around where Netflix's share price was when the split was completed.\nSource: Yahoo Finance\nAlthough Amazon.com, Inc. (AMZN) and Alphabet Inc. (GOOGL)(GOOG) are the odd tech companies trading at quadruple-digit levels, most others are trading in the triple-digit or smaller. With the favorable experience from the previous stock split, Tesla might not want to wait for the share price to hit quadruple-digit again before contemplating another split.\nFurthermore, there is existing literature that reveals a strong correlation between stock splits and \"outstanding stock price performance\", giving Tesla the impetus to do so. Another potential trigger point for Elon Musk to announce a stock split could be when TSLA hit $840 per share. He would be able to claim that the company would do a two-for-one split so that the share price becomes $420 post-split.\nOf course, the share price wouldn't stay flat from the announcement date until the effective date. Nonetheless, the media would have gone into overdrive covering the announcement and speculating about the number's link to weed as well as Elon's past brush with the securities law on his previous take-Tesla-private-at-$420 claim. This would generate plenty of free publicity for the company.\nHowever, investors should not hang around for a stock split if they are intending to own shares in Tesla. It may not happen and the share price could still zoom upwards on speculations, improving sentiment, or due to business fundamentals.","news_type":1},"isVote":1,"tweetType":1,"viewCount":80,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9050646576,"gmtCreate":1654191927795,"gmtModify":1676535409618,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"still bullish","listText":"still bullish","text":"still bullish","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050646576","repostId":"2240123694","repostType":4,"isVote":1,"tweetType":1,"viewCount":525,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9002502069,"gmtCreate":1642034416746,"gmtModify":1676533674139,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"cautious&nbsp;","listText":"cautious&nbsp;","text":"cautious","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9002502069","repostId":"1190696876","repostType":4,"repost":{"id":"1190696876","pubTimestamp":1642028546,"share":"https://ttm.financial/m/news/1190696876?lang=&edition=fundamental","pubTime":"2022-01-13 07:02","market":"us","language":"en","title":"Wall Street Closes Higher as Inflation Data Supports Fed Bets","url":"https://stock-news.laohu8.com/highlight/detail?id=1190696876","media":"StreetInsider","summary":"U.S. stock indexes rose on Wednesday after data showed that while U.S. inflation was at its highest ","content":"<html><head></head><body><p>U.S. stock indexes rose on Wednesday after data showed that while U.S. inflation was at its highest in decades, it largely met economists&#39; expectations, cooling some fears that the Federal Reserve would have to pull back support even more forcibly than already expected.</p><p>Ten out of the 11 major S&amp;P sectors finished higher after the news with the S&amp;P 500 and the Nasdaq outperforming the Dow as growth stocks outperformed value.</p><p>Data from the Labor Department showed the consumer price index (CPI) increased 0.5% last month after rising 0.8% in November, while in the 12 months through December, the CPI surged 7.0% to its highest year-on-year rise in nearly four decades.</p><p>Economists polled by Reuters had forecast a CPI gain of 0.4% for December and 7.0% on a year-on-year basis.</p><p>&#34;Investors were bracing for even hotter in inflation than what we actually saw. As bad as the number is and as much inflationary pressure that&#39;s in the economy there was a little relief in that,&#34; said Anthony Saglimbene, Ameriprise Financial&#39;s global market strategist in Troy, Michigan.</p><p>&#34;Today&#39;s inflation report validates the Fed trajectory and means they don&#39;t have to be any more aggressive than is already priced in.&#34;</p><p>The central bank&#39;s plan for easing accommodation to fight inflation includes raising interest rates, which analysts expect to start as soon as March, as well as tapering its bond buying program and reducing its asset holdings.</p><p>For most stock sectors it also helped that longer-dated U.S. Treasury yields dipped on Wednesday. In recent weeks, sharp gains in the U.S. 10-year yield had weighed on stocks, particularly in rate-sensitive growth sectors like technology.</p><p>&#34;The fact that bond market yields are standing down is probably a signal for equity investors to take on a little more risk today,&#34; said Jack Ablin, chief investment officer at Cresset Capital Management in Chicago.</p><p>But with the small cap Russell 2000 index underperforming to end down 0.82%, Ablin saw some caution.</p><p>&#34;Equity investors still want quality. It&#39;s not a free-for-all,&#34; Ablin said.</p><p>The Dow Jones Industrial Average rose 38.3 points, or 0.11%, to 36,290.32, the S&amp;P 500 gained 13.28 points, or 0.28%, to 4,726.35 and the Nasdaq Composite added 34.94 points, or 0.23%, to 15,188.39.</p><p>The S&amp;P&#39;s top sector gainers of the day were materials, up almost 1%, consumer discretionary, up 0.6% and technology which rose 0.4%.</p><p>Growth and technology stocks have been staging a comeback this week, with investors watching a variety of metrics to decide whether to buy the rally or brace for more declines.</p><p>Also on the watchlist for this week is the unofficial kick-off of the fourth quarter earnings season with JPMorgan Chase &amp; Co, CitigroupInc and Morgan Stanley due to report their results on Friday.</p><p>The Dow&#39;s biggest drag for the day was Goldman Sachs, which fell 3% and Morgan Stanley fell 2.7% on the day as their smaller rival Jefferies fell 9% after it missed quarterly earnings expectations.</p><p>Both Goldman and Morgan Stanley, like Jefferies depend heavily on their capital markets business. Both Morgan Stanley and Goldman were also in the top five biggest drags on the S&amp;P 500 on the day. However, the broader banking sector, which includes more traditional lenders, rose 0.3% on Wednesday.</p><p>In sectors like air travel, however, surging cases of the Omicron variant of the coronavirus could dampen earnings expectations, with analysts at Bank of America reckoning that the pandemic&#39;s impact on corporate travel is the biggest risk to the airline industry.</p><p>The healthcare index, was weighed down by shares of drugmaker Eli Lilly, which closed down 2.4% and was the biggest single weight on the S&amp;P, and Biogen, which lost 6.7%.</p><p>The U.S. government Medicare program said that while it plans to cover Biogen&#39;s Aduhelm Alzheimer treatment it will require patients to be enrolled in a clinical trial, limiting access to the medication. This could also impact Eli Lilly, which is developing similar drugs.</p><p>The biggest boosts to the S&amp;P on the day wereTeslaup 3.9% ahead of Microsoft Google parent Alphabet, which both rose more than 1%.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.26-to-1 ratio; on Nasdaq, a 1.37-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 38 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 60 new highs and 137 new lows.</p><p>On U.S. exchanges 10.251 billion shares changed hands compared with the 10.496 billion average for the last 20 sessions.</p></body></html>","source":"highlight_streetinsider","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 Higher as Inflation Data Supports Fed Bets</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 Closes Higher as Inflation Data Supports Fed Bets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-13 07:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/ETFs/Wall+Street+closes+higher+as+inflation+data+supports+Fed+bets/19451289.html><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. stock indexes rose on Wednesday after data showed that while U.S. inflation was at its highest in decades, it largely met economists' expectations, cooling some fears that the Federal Reserve ...</p>\n\n<a href=\"https://www.streetinsider.com/ETFs/Wall+Street+closes+higher+as+inflation+data+supports+Fed+bets/19451289.html\">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://www.streetinsider.com/ETFs/Wall+Street+closes+higher+as+inflation+data+supports+Fed+bets/19451289.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190696876","content_text":"U.S. stock indexes rose on Wednesday after data showed that while U.S. inflation was at its highest in decades, it largely met economists' expectations, cooling some fears that the Federal Reserve would have to pull back support even more forcibly than already expected.Ten out of the 11 major S&P sectors finished higher after the news with the S&P 500 and the Nasdaq outperforming the Dow as growth stocks outperformed value.Data from the Labor Department showed the consumer price index (CPI) increased 0.5% last month after rising 0.8% in November, while in the 12 months through December, the CPI surged 7.0% to its highest year-on-year rise in nearly four decades.Economists polled by Reuters had forecast a CPI gain of 0.4% for December and 7.0% on a year-on-year basis.\"Investors were bracing for even hotter in inflation than what we actually saw. As bad as the number is and as much inflationary pressure that's in the economy there was a little relief in that,\" said Anthony Saglimbene, Ameriprise Financial's global market strategist in Troy, Michigan.\"Today's inflation report validates the Fed trajectory and means they don't have to be any more aggressive than is already priced in.\"The central bank's plan for easing accommodation to fight inflation includes raising interest rates, which analysts expect to start as soon as March, as well as tapering its bond buying program and reducing its asset holdings.For most stock sectors it also helped that longer-dated U.S. Treasury yields dipped on Wednesday. In recent weeks, sharp gains in the U.S. 10-year yield had weighed on stocks, particularly in rate-sensitive growth sectors like technology.\"The fact that bond market yields are standing down is probably a signal for equity investors to take on a little more risk today,\" said Jack Ablin, chief investment officer at Cresset Capital Management in Chicago.But with the small cap Russell 2000 index underperforming to end down 0.82%, Ablin saw some caution.\"Equity investors still want quality. It's not a free-for-all,\" Ablin said.The Dow Jones Industrial Average rose 38.3 points, or 0.11%, to 36,290.32, the S&P 500 gained 13.28 points, or 0.28%, to 4,726.35 and the Nasdaq Composite added 34.94 points, or 0.23%, to 15,188.39.The S&P's top sector gainers of the day were materials, up almost 1%, consumer discretionary, up 0.6% and technology which rose 0.4%.Growth and technology stocks have been staging a comeback this week, with investors watching a variety of metrics to decide whether to buy the rally or brace for more declines.Also on the watchlist for this week is the unofficial kick-off of the fourth quarter earnings season with JPMorgan Chase & Co, CitigroupInc and Morgan Stanley due to report their results on Friday.The Dow's biggest drag for the day was Goldman Sachs, which fell 3% and Morgan Stanley fell 2.7% on the day as their smaller rival Jefferies fell 9% after it missed quarterly earnings expectations.Both Goldman and Morgan Stanley, like Jefferies depend heavily on their capital markets business. Both Morgan Stanley and Goldman were also in the top five biggest drags on the S&P 500 on the day. However, the broader banking sector, which includes more traditional lenders, rose 0.3% on Wednesday.In sectors like air travel, however, surging cases of the Omicron variant of the coronavirus could dampen earnings expectations, with analysts at Bank of America reckoning that the pandemic's impact on corporate travel is the biggest risk to the airline industry.The healthcare index, was weighed down by shares of drugmaker Eli Lilly, which closed down 2.4% and was the biggest single weight on the S&P, and Biogen, which lost 6.7%.The U.S. government Medicare program said that while it plans to cover Biogen's Aduhelm Alzheimer treatment it will require patients to be enrolled in a clinical trial, limiting access to the medication. This could also impact Eli Lilly, which is developing similar drugs.The biggest boosts to the S&P on the day wereTeslaup 3.9% ahead of Microsoft Google parent Alphabet, which both rose more than 1%.Advancing issues outnumbered declining ones on the NYSE by a 1.26-to-1 ratio; on Nasdaq, a 1.37-to-1 ratio favored decliners.The S&P 500 posted 38 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 60 new highs and 137 new lows.On U.S. exchanges 10.251 billion shares changed hands compared with the 10.496 billion average for the last 20 sessions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":189,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889140461,"gmtCreate":1631118317653,"gmtModify":1676530474143,"author":{"id":"3578559022708914","authorId":"3578559022708914","authorIdStr":"3578559022708914","name":"Juvie","avatar":"https://static.tigerbbs.com/9174cf1baa02042e82114235e72d7246","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578559022708914"},"themes":[],"htmlText":"bullish on clean energy","listText":"bullish on clean energy","text":"bullish on clean energy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/889140461","repostId":"2165915933","repostType":4,"repost":{"id":"2165915933","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":1631112552,"share":"https://ttm.financial/m/news/2165915933?lang=&edition=fundamental","pubTime":"2021-09-08 22:49","market":"fut","language":"en","title":"Solar energy can account for 40% of U.S. electricity by 2035- DOE report","url":"https://stock-news.laohu8.com/highlight/detail?id=2165915933","media":"Reuters","summary":"WASHINGTON, Sept 8 (Reuters) - The Biden administration on Wednesday released a report showing that ","content":"<p>WASHINGTON, Sept 8 (Reuters) - The Biden administration on Wednesday released a report showing that the U.S. can get 40% of its electricity from solar energy by 2035 - a significant ramp up from its current share of generation.</p>\n<p>The Solar Futures Study outlines how solar energy can help decarbonize the U.S. power grid and help achieve a Biden administration goal of achieving net zero emissions in the electricity sector by 2035.</p>\n<p>“The study illuminates the fact that solar, our cheapest and fastest-growing source of clean energy, could produce enough electricity to power all of the homes in the U.S. by 2035 and employ as many as 1.5 million people in the process,” said Secretary of Energy Jennifer Granholm in a statement.</p>\n<p>(Reporting by Susan Heavey, Valerie Volcovici; Editing by Chizu Nomiyama)</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>Solar energy can account for 40% of U.S. electricity by 2035- DOE report</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\">\nSolar energy can account for 40% of U.S. electricity by 2035- DOE report\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\">2021-09-08 22:49</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>WASHINGTON, Sept 8 (Reuters) - The Biden administration on Wednesday released a report showing that the U.S. can get 40% of its electricity from solar energy by 2035 - a significant ramp up from its current share of generation.</p>\n<p>The Solar Futures Study outlines how solar energy can help decarbonize the U.S. power grid and help achieve a Biden administration goal of achieving net zero emissions in the electricity sector by 2035.</p>\n<p>“The study illuminates the fact that solar, our cheapest and fastest-growing source of clean energy, could produce enough electricity to power all of the homes in the U.S. by 2035 and employ as many as 1.5 million people in the process,” said Secretary of Energy Jennifer Granholm in a statement.</p>\n<p>(Reporting by Susan Heavey, Valerie Volcovici; Editing by Chizu Nomiyama)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165915933","content_text":"WASHINGTON, Sept 8 (Reuters) - The Biden administration on Wednesday released a report showing that the U.S. can get 40% of its electricity from solar energy by 2035 - a significant ramp up from its current share of generation.\nThe Solar Futures Study outlines how solar energy can help decarbonize the U.S. power grid and help achieve a Biden administration goal of achieving net zero emissions in the electricity sector by 2035.\n“The study illuminates the fact that solar, our cheapest and fastest-growing source of clean energy, could produce enough electricity to power all of the homes in the U.S. by 2035 and employ as many as 1.5 million people in the process,” said Secretary of Energy Jennifer Granholm in a statement.\n(Reporting by Susan Heavey, Valerie Volcovici; Editing by Chizu Nomiyama)","news_type":1},"isVote":1,"tweetType":1,"viewCount":176,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}