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RyanTay
2021-06-22
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RyanTay
2021-06-22
Cool
This Big Tech Stock Is Always on Sale
RyanTay
2021-06-22
Cool
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RyanTay
2021-06-22
Interesting
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RyanTay
2021-06-22
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RyanTay
2021-03-25
Pray
How Is Tesla Stock Worth $3,000? By Becoming Bigger Than Apple.
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22:43","market":"us","language":"en","title":"This Big Tech Stock Is Always on Sale","url":"https://stock-news.laohu8.com/highlight/detail?id=1188659531","media":"The Wall Street Journal","summary":"Tencent’s anchor shareholder Prosus has revealed the value of its $39 billion portfolio of startups—","content":"<blockquote>\n Tencent’s anchor shareholder Prosus has revealed the value of its $39 billion portfolio of startups—and the full extent of its discount problem\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/7190040397780616cd6d06eb9b8f423c\" tg-width=\"879\" tg-height=\"513\">Getting 50% off isn’t such an unmissable opportunity when there is no end to the discounting in sight.</p>\n<p>Prosus is one of the most valuable tech companies listed in Europeby virtue of its big stakein Chinese internet giant Tencent, bought two decades ago for $34 million and now worth $216 billion, even after two share sales. The Amsterdam-based company also owns a portfolio of e-commerce startups that, like Tencent, have mainly thrived during the pandemic. Prosus revealed an estimate by Deloitte of their valuation for the first time Monday. According to the accounting firm, they are worth in aggregate $39 billion, up from roughly $20 billion a year ago.</p>\n<p>The strong valuation is a double-edged sword. It suggests that Prosus’ operations are headed in the right direction, but it also lays painfully bare the gulf between their value and its stock price. If you add the $39 billion to $216 billion for the Tencent stake, roughly $1 billion for a similar minority stake in Russian internet company Mail.ru and almost $12 billion in net cash, you get an implied equity value of $268 billion for Prosus. Its market capitalization is just $162 billion—a discount of 39%.</p>\n<p>The gap widens further if you step further up the ownership chain. Prosus is majority-owned by South African holding companyNaspers,NPSNY-0.70%whose shares trade roughly 23% below the value of its Prosus stake. Overall, Naspers shareholders are getting less than half the value of the internet businesses and stakes owned by Prosus.</p>\n<p>Such financial inefficiency might present an opportunity if the reasons weren’t so intractable. Naspers, which built the portfolio,spun Prosus offto reduce its own heavy weighting on the South African stock market, which gave portfolio managers an ongoing technical reason to sell its stock. Less than two years later, Naspers is as dominant on the exchange as ever.</p>\n<p>Prosus and Naspers have a new plan to address the problem, involving a cross-shareholding structure that will end in Prosus owning almost half of Naspers. The project received pushback from investors partly for its complexity, forcing the company to issue a public defense. Shareholders vote on the deal next month.</p>\n<p>Complexity may itself be one reason for the discount problem at Naspers and Prosus: Tying themselves in knots to answer one question just raises more. The only real resolution is a breakup, but the companies need their Tencent shares to fund bets on cash-draining industries like food delivery. They raised $14.6 billion by selling just 2% in April.</p>\n<p>Naspers and Prosus have an attractive portfolio, but investors can’t expect the current strategy to deliver anything close to full value for it.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Big Tech Stock Is Always on Sale</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\">\nThis Big Tech Stock Is Always on Sale\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 22:43 GMT+8 <a href=https://www.wsj.com/articles/this-big-tech-stock-is-always-on-sale-11624283672><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tencent’s anchor shareholder Prosus has revealed the value of its $39 billion portfolio of startups—and the full extent of its discount problem\n\nGetting 50% off isn’t such an unmissable opportunity ...</p>\n\n<a href=\"https://www.wsj.com/articles/this-big-tech-stock-is-always-on-sale-11624283672\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PROSF":"Prosus NV"},"source_url":"https://www.wsj.com/articles/this-big-tech-stock-is-always-on-sale-11624283672","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188659531","content_text":"Tencent’s anchor shareholder Prosus has revealed the value of its $39 billion portfolio of startups—and the full extent of its discount problem\n\nGetting 50% off isn’t such an unmissable opportunity when there is no end to the discounting in sight.\nProsus is one of the most valuable tech companies listed in Europeby virtue of its big stakein Chinese internet giant Tencent, bought two decades ago for $34 million and now worth $216 billion, even after two share sales. The Amsterdam-based company also owns a portfolio of e-commerce startups that, like Tencent, have mainly thrived during the pandemic. Prosus revealed an estimate by Deloitte of their valuation for the first time Monday. According to the accounting firm, they are worth in aggregate $39 billion, up from roughly $20 billion a year ago.\nThe strong valuation is a double-edged sword. It suggests that Prosus’ operations are headed in the right direction, but it also lays painfully bare the gulf between their value and its stock price. If you add the $39 billion to $216 billion for the Tencent stake, roughly $1 billion for a similar minority stake in Russian internet company Mail.ru and almost $12 billion in net cash, you get an implied equity value of $268 billion for Prosus. Its market capitalization is just $162 billion—a discount of 39%.\nThe gap widens further if you step further up the ownership chain. Prosus is majority-owned by South African holding companyNaspers,NPSNY-0.70%whose shares trade roughly 23% below the value of its Prosus stake. Overall, Naspers shareholders are getting less than half the value of the internet businesses and stakes owned by Prosus.\nSuch financial inefficiency might present an opportunity if the reasons weren’t so intractable. Naspers, which built the portfolio,spun Prosus offto reduce its own heavy weighting on the South African stock market, which gave portfolio managers an ongoing technical reason to sell its stock. Less than two years later, Naspers is as dominant on the exchange as ever.\nProsus and Naspers have a new plan to address the problem, involving a cross-shareholding structure that will end in Prosus owning almost half of Naspers. The project received pushback from investors partly for its complexity, forcing the company to issue a public defense. Shareholders vote on the deal next month.\nComplexity may itself be one reason for the discount problem at Naspers and Prosus: Tying themselves in knots to answer one question just raises more. The only real resolution is a breakup, but the companies need their Tencent shares to fund bets on cash-draining industries like food delivery. They raised $14.6 billion by selling just 2% in April.\nNaspers and Prosus have an attractive portfolio, but investors can’t expect the current strategy to deliver anything close to full value for it.","news_type":1},"isVote":1,"tweetType":1,"viewCount":300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120328525,"gmtCreate":1624303202867,"gmtModify":1703832929679,"author":{"id":"3579522470848421","authorId":"3579522470848421","name":"RyanTay","avatar":"https://static.tigerbbs.com/5f44983b192c953dd5830205dc12ded4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579522470848421","authorIdStr":"3579522470848421"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120328525","repostId":"2145008251","repostType":4,"isVote":1,"tweetType":1,"viewCount":110,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120328215,"gmtCreate":1624303169737,"gmtModify":1703832929357,"author":{"id":"3579522470848421","authorId":"3579522470848421","name":"RyanTay","avatar":"https://static.tigerbbs.com/5f44983b192c953dd5830205dc12ded4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579522470848421","authorIdStr":"3579522470848421"},"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/120328215","repostId":"2145084835","repostType":4,"isVote":1,"tweetType":1,"viewCount":73,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120927183,"gmtCreate":1624292888942,"gmtModify":1703832801710,"author":{"id":"3579522470848421","authorId":"3579522470848421","name":"RyanTay","avatar":"https://static.tigerbbs.com/5f44983b192c953dd5830205dc12ded4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579522470848421","authorIdStr":"3579522470848421"},"themes":[],"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120927183","repostId":"2145084835","repostType":4,"isVote":1,"tweetType":1,"viewCount":217,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358107145,"gmtCreate":1616670052887,"gmtModify":1704797155610,"author":{"id":"3579522470848421","authorId":"3579522470848421","name":"RyanTay","avatar":"https://static.tigerbbs.com/5f44983b192c953dd5830205dc12ded4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579522470848421","authorIdStr":"3579522470848421"},"themes":[],"htmlText":"Pray","listText":"Pray","text":"Pray","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358107145","repostId":"1170151822","repostType":4,"repost":{"id":"1170151822","pubTimestamp":1616662406,"share":"https://ttm.financial/m/news/1170151822?lang=&edition=fundamental","pubTime":"2021-03-25 16:53","market":"us","language":"en","title":"How Is Tesla Stock Worth $3,000? By Becoming Bigger Than Apple.","url":"https://stock-news.laohu8.com/highlight/detail?id=1170151822","media":"Barrons","summary":"ARK Invest’s Cathie Wood says Tesla stock could be worth $3,000 in five years. How is that possible?By becoming bigger than Apple is now. Some of her assumptions, however, may be overly optimistic.Over the weekend, ARK Invest’s disruption guru Cathie Wood put a five-year price target of $3,000 on Tesla. That’s higher than Piper Sandler analyst Alex Potter’s $1,200 target, the highest on the Street, but analysts are usually looking out 12 months, not multiple years.Wood isn’t producing that targe","content":"<p>ARK Invest’s Cathie Wood says Tesla stock could be worth $3,000 in five years. How is that possible? By becoming bigger than Apple is now. Some of her assumptions, however, may be overly optimistic.</p>\n<p>Over the weekend, ARK Invest’s disruption guru Cathie Wood put a five-year price target of $3,000 on Tesla. That’s higher than Piper Sandler analyst Alex Potter’s $1,200 target, the highest on the Street, but analysts are usually looking out 12 months, not multiple years.</p>\n<p>Wood isn’t producing that target out of thin air. When she released it, she also produced some of the assumptions underlying her view. But one thing stands out: For Tesla to trade $3,000, it would have to produce more sales and more Ebitda—short for earnings before interest, taxes, depreciation, and amortization—than Apple (AAPL) does now. Which makes sense, given that Tesla at $3,000 would be worth $3.6 trillion including management stock options, around 1.8 times the $2 trillion Apple is worth now.</p>\n<p>Overall, ARK expects Tesla to produce $700 billion in sales, $167 billion in cash flow, and $210 billion Ebitda by 2025. Apple generated about $274 billion in sales, $81 billion in operating cash flow, and $76 billion in Ebitda in its most recent fiscal year ended September 2020.</p>\n<p>The target, so far, hasn’t been the subject of a lot of critical analysis, beyond some angry tweets from Tesla (ticker: TSLA) bears. ARK didn’t respond to a request from <i>Barron’s</i> for comment about the new target price.</p>\n<p>To get there, Wood starts with the assumption that Tesla will sell between 5 million to 10 million cars by 2025. That’s a wide range. But a financial model is an average or best approximation of many assumptions. At the midpoint of ARK’s range, Tesla would sell about 7.5 million cars in 2025. That’s one area where ARK appears more bullish than most, including the company itself. It’s about three times higher than Wall Street is modeling and represents about 70% average annual growth. Tesla, for its part, is targeting 50% average annual growth in vehicle sales. It’s still a big number, but if Tesla grows at 50% then 2025 sales end up at about 3.8 million units in 2025.</p>\n<p>But the Bull case on Tesla is about more than auto sales.Autonomous taxis drive a big part of the ARK increased price target. ARK projects $327 billion in autonomous taxi revenue for 2025, almost as large as the vehicle business. Tesla’s car business is projected to generate roughly $90 billion in Ebitda, while the robotaxi business generates about $70 billion in Ebitda, according to the model. Today, however, autonomous taxis produce no revenue and no Ebitda at all yet.</p>\n<p>“Cathie is very bullish on robotaxis and many of Tesla’s next-generation endeavors, which could add another $500 per share to the stock in our opinion,” says Wedbush analyst Dan Ives.</p>\n<p>Still, some of the assumptions ARK uses to get to these numbers look a little generous. ARK assumes that Tesla’s working capital—all the inventory and accounts receivables along with short-term financing used to operate a business—in 2025 will be around $12 billion, roughly the same as 2020. It’s almost impossible that a car company manufacturing 15 times the number of vehicles it does today will have the same working capital requirements.</p>\n<p>That’s a smaller problem in the grand scheme of things, but it overstates the cash-generating ability of Tesla a little bit. ARK expects about $167 billion in “cash generation” by 2025. It isn’t clear if that is free cash flow or cash from operations. Either way, it’s a lot of cash, about two times the cash flow generated by Apple over the past 12 months</p>\n<p>ARK also assumes that Tesla’s insurance business, with all the autonomous driving data coming off its cars, will be able to produce twice the profit margins of traditional auto insurance companies. It’s not a huge part of Tesla’s business: ARK sees Tesla insurance generating about $2.5 billion in operating profit in 2025, just 1.25% of Ark’s $200 billion operating profit estimate for the company in 2025. Tesla generated about $2 billion in operating profit this past year.</p>\n<p>But Tesla won’t be the only one innovating. Even Elon Musk thinks other companies will have similar systems eventually. “Eventually, every car company will have long-range electric cars,” Musk said at the company’s recent annual shareholder meeting. “Eventually, every company will have autonomy, I think, but not every company will be great at manufacturing.”</p>\n<p>Whether ARK’s numbers seem realistic or like a hopeless pipe dream likely depends on where one stands on Tesla. If it’s a car company, its current $700 billion valuation looks extreme compared with Toyota (TM), the world’s second most valuable auto maker with a market cap of $250 billion, or Volkswagen (VOW.Germany), the world’s largest auto maker by the number of cars produced, which has a market cap of about $160 billion.</p>\n<p>ARK’s bet is that Tesla is something else altogether, something more like Apple. We’ll find out in 2025 if Wood is right.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How Is Tesla Stock Worth $3,000? By Becoming Bigger Than Apple.</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 Is Tesla Stock Worth $3,000? By Becoming Bigger Than Apple.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 16:53 GMT+8 <a href=https://www.barrons.com/articles/how-is-tesla-worth-3-000-by-becoming-bigger-than-apple-51616617173?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest’s Cathie Wood says Tesla stock could be worth $3,000 in five years. How is that possible? By becoming bigger than Apple is now. Some of her assumptions, however, may be overly optimistic.\n...</p>\n\n<a href=\"https://www.barrons.com/articles/how-is-tesla-worth-3-000-by-becoming-bigger-than-apple-51616617173?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/how-is-tesla-worth-3-000-by-becoming-bigger-than-apple-51616617173?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170151822","content_text":"ARK Invest’s Cathie Wood says Tesla stock could be worth $3,000 in five years. How is that possible? By becoming bigger than Apple is now. Some of her assumptions, however, may be overly optimistic.\nOver the weekend, ARK Invest’s disruption guru Cathie Wood put a five-year price target of $3,000 on Tesla. That’s higher than Piper Sandler analyst Alex Potter’s $1,200 target, the highest on the Street, but analysts are usually looking out 12 months, not multiple years.\nWood isn’t producing that target out of thin air. When she released it, she also produced some of the assumptions underlying her view. But one thing stands out: For Tesla to trade $3,000, it would have to produce more sales and more Ebitda—short for earnings before interest, taxes, depreciation, and amortization—than Apple (AAPL) does now. Which makes sense, given that Tesla at $3,000 would be worth $3.6 trillion including management stock options, around 1.8 times the $2 trillion Apple is worth now.\nOverall, ARK expects Tesla to produce $700 billion in sales, $167 billion in cash flow, and $210 billion Ebitda by 2025. Apple generated about $274 billion in sales, $81 billion in operating cash flow, and $76 billion in Ebitda in its most recent fiscal year ended September 2020.\nThe target, so far, hasn’t been the subject of a lot of critical analysis, beyond some angry tweets from Tesla (ticker: TSLA) bears. ARK didn’t respond to a request from Barron’s for comment about the new target price.\nTo get there, Wood starts with the assumption that Tesla will sell between 5 million to 10 million cars by 2025. That’s a wide range. But a financial model is an average or best approximation of many assumptions. At the midpoint of ARK’s range, Tesla would sell about 7.5 million cars in 2025. That’s one area where ARK appears more bullish than most, including the company itself. It’s about three times higher than Wall Street is modeling and represents about 70% average annual growth. Tesla, for its part, is targeting 50% average annual growth in vehicle sales. It’s still a big number, but if Tesla grows at 50% then 2025 sales end up at about 3.8 million units in 2025.\nBut the Bull case on Tesla is about more than auto sales.Autonomous taxis drive a big part of the ARK increased price target. ARK projects $327 billion in autonomous taxi revenue for 2025, almost as large as the vehicle business. Tesla’s car business is projected to generate roughly $90 billion in Ebitda, while the robotaxi business generates about $70 billion in Ebitda, according to the model. Today, however, autonomous taxis produce no revenue and no Ebitda at all yet.\n“Cathie is very bullish on robotaxis and many of Tesla’s next-generation endeavors, which could add another $500 per share to the stock in our opinion,” says Wedbush analyst Dan Ives.\nStill, some of the assumptions ARK uses to get to these numbers look a little generous. ARK assumes that Tesla’s working capital—all the inventory and accounts receivables along with short-term financing used to operate a business—in 2025 will be around $12 billion, roughly the same as 2020. It’s almost impossible that a car company manufacturing 15 times the number of vehicles it does today will have the same working capital requirements.\nThat’s a smaller problem in the grand scheme of things, but it overstates the cash-generating ability of Tesla a little bit. ARK expects about $167 billion in “cash generation” by 2025. It isn’t clear if that is free cash flow or cash from operations. Either way, it’s a lot of cash, about two times the cash flow generated by Apple over the past 12 months\nARK also assumes that Tesla’s insurance business, with all the autonomous driving data coming off its cars, will be able to produce twice the profit margins of traditional auto insurance companies. It’s not a huge part of Tesla’s business: ARK sees Tesla insurance generating about $2.5 billion in operating profit in 2025, just 1.25% of Ark’s $200 billion operating profit estimate for the company in 2025. Tesla generated about $2 billion in operating profit this past year.\nBut Tesla won’t be the only one innovating. Even Elon Musk thinks other companies will have similar systems eventually. “Eventually, every car company will have long-range electric cars,” Musk said at the company’s recent annual shareholder meeting. “Eventually, every company will have autonomy, I think, but not every company will be great at manufacturing.”\nWhether ARK’s numbers seem realistic or like a hopeless pipe dream likely depends on where one stands on Tesla. If it’s a car company, its current $700 billion valuation looks extreme compared with Toyota (TM), the world’s second most valuable auto maker with a market cap of $250 billion, or Volkswagen (VOW.Germany), the world’s largest auto maker by the number of cars produced, which has a market cap of about $160 billion.\nARK’s bet is that Tesla is something else altogether, something more like Apple. We’ll find out in 2025 if Wood is right.","news_type":1},"isVote":1,"tweetType":1,"viewCount":203,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":120927183,"gmtCreate":1624292888942,"gmtModify":1703832801710,"author":{"id":"3579522470848421","authorId":"3579522470848421","name":"RyanTay","avatar":"https://static.tigerbbs.com/5f44983b192c953dd5830205dc12ded4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579522470848421","authorIdStr":"3579522470848421"},"themes":[],"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120927183","repostId":"2145084835","repostType":4,"isVote":1,"tweetType":1,"viewCount":217,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120328525,"gmtCreate":1624303202867,"gmtModify":1703832929679,"author":{"id":"3579522470848421","authorId":"3579522470848421","name":"RyanTay","avatar":"https://static.tigerbbs.com/5f44983b192c953dd5830205dc12ded4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579522470848421","authorIdStr":"3579522470848421"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120328525","repostId":"2145008251","repostType":4,"repost":{"id":"2145008251","pubTimestamp":1624288049,"share":"https://ttm.financial/m/news/2145008251?lang=&edition=fundamental","pubTime":"2021-06-21 23:07","market":"us","language":"en","title":"Buyout Group Nears $5.3 Billion Deal for China’s 51job","url":"https://stock-news.laohu8.com/highlight/detail?id=2145008251","media":"Bloomberg","summary":"(Bloomberg) -- An investor group led by DCP Capital is nearing a deal to acquire 51job Inc. in a tra","content":"<p>(Bloomberg) -- An investor group led by DCP Capital is nearing a deal to acquire 51job Inc. in a transaction valuing the Chinese recruitment firm at about $5.3 billion, people familiar with the matter said.</p>\n<p>The consortium, which also includes buyout firm Ocean Link and 51job co-founder and Chief Executive Officer Rick Yan, is in advanced talks to buy the New York-listed company for about $79.05 per American depositary share, the people said. An agreement could be announced as soon as Monday, the people said, asking not to be identified because the matter is private.</p>\n<p>A bid at that level would represent a 5.9% premium to 51job’s last close and would be equal to a preliminary proposal made by Beijing-based DCP in September. The deal is set to be <a href=\"https://laohu8.com/S/AONE\">one</a> of the largest buyouts of a U.S.-listed Chinese company this year, according to data compiled by Bloomberg.</p>\n<p>The consortium has secured financing for the acquisition led by Chinese banks, the people said. Japan’s Recruit Holdings Co., which is currently 51job’s biggest shareholder with a 34.8% stake, plans to sell a small portion of its holding and keep the remainder, the people said.</p>\n<p>Yan, who owns about 19.2% of the company, is set to increase his stake to nearly 40%, while DCP and Ocean Link will hold more than 20% combined, the people said. Negotiations are ongoing, and the details and timing of the potential deal could still change, the people said.</p>\n<p>Representatives for 51job, DCP, Ocean Link and Recruit couldn’t immediately be reached for comment.</p>\n<p>Following DCP’s initial takeover approach in September, 51job formed a special board committee to evaluate the offer as well as other strategic alternatives. In May, 51job said it had received an updated proposal from DCP, which had teamed up with Ocean Link and Yan.</p>\n<p>51job, founded in 1998, provides human resources services in China including recruitment, employee retention and other personnel-related assistance. In 2015, it acquired campus recruitment website Yingjiesheng.com.</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>Buyout Group Nears $5.3 Billion Deal for China’s 51job</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\">\nBuyout Group Nears $5.3 Billion Deal for China’s 51job\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 23:07 GMT+8 <a href=https://finance.yahoo.com/news/buyout-group-nears-5-3-095129652.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- An investor group led by DCP Capital is nearing a deal to acquire 51job Inc. in a transaction valuing the Chinese recruitment firm at about $5.3 billion, people familiar with the matter...</p>\n\n<a href=\"https://finance.yahoo.com/news/buyout-group-nears-5-3-095129652.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JOBS":"前程无忧"},"source_url":"https://finance.yahoo.com/news/buyout-group-nears-5-3-095129652.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2145008251","content_text":"(Bloomberg) -- An investor group led by DCP Capital is nearing a deal to acquire 51job Inc. in a transaction valuing the Chinese recruitment firm at about $5.3 billion, people familiar with the matter said.\nThe consortium, which also includes buyout firm Ocean Link and 51job co-founder and Chief Executive Officer Rick Yan, is in advanced talks to buy the New York-listed company for about $79.05 per American depositary share, the people said. An agreement could be announced as soon as Monday, the people said, asking not to be identified because the matter is private.\nA bid at that level would represent a 5.9% premium to 51job’s last close and would be equal to a preliminary proposal made by Beijing-based DCP in September. The deal is set to be one of the largest buyouts of a U.S.-listed Chinese company this year, according to data compiled by Bloomberg.\nThe consortium has secured financing for the acquisition led by Chinese banks, the people said. Japan’s Recruit Holdings Co., which is currently 51job’s biggest shareholder with a 34.8% stake, plans to sell a small portion of its holding and keep the remainder, the people said.\nYan, who owns about 19.2% of the company, is set to increase his stake to nearly 40%, while DCP and Ocean Link will hold more than 20% combined, the people said. Negotiations are ongoing, and the details and timing of the potential deal could still change, the people said.\nRepresentatives for 51job, DCP, Ocean Link and Recruit couldn’t immediately be reached for comment.\nFollowing DCP’s initial takeover approach in September, 51job formed a special board committee to evaluate the offer as well as other strategic alternatives. In May, 51job said it had received an updated proposal from DCP, which had teamed up with Ocean Link and Yan.\n51job, founded in 1998, provides human resources services in China including recruitment, employee retention and other personnel-related assistance. In 2015, it acquired campus recruitment website Yingjiesheng.com.","news_type":1},"isVote":1,"tweetType":1,"viewCount":110,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120328215,"gmtCreate":1624303169737,"gmtModify":1703832929357,"author":{"id":"3579522470848421","authorId":"3579522470848421","name":"RyanTay","avatar":"https://static.tigerbbs.com/5f44983b192c953dd5830205dc12ded4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579522470848421","authorIdStr":"3579522470848421"},"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/120328215","repostId":"2145084835","repostType":4,"repost":{"id":"2145084835","pubTimestamp":1624280460,"share":"https://ttm.financial/m/news/2145084835?lang=&edition=fundamental","pubTime":"2021-06-21 21:01","market":"us","language":"en","title":"5 Ultra-Popular Stocks Wall Street Views as Overvalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2145084835","media":"Motley Fool","summary":"If analysts are correct, these high-flying stocks will fizzle out over the next year.","content":"<p>Generally speaking, it pays to be bullish on Wall Street. Despite navigating its way through Black Monday in 1987, the dot-com bubble, the Great Recession, and more recently the coronavirus crash, the average annual total return for the benchmark <b>S&P 500</b> since 1980, including dividends, is north of 11%.</p>\n<p>Not surprisingly, we see this optimism readily apparent in Wall Street's ratings on stocks. According to <b>FactSet</b>, more than half of all stocks carry a consensus buy rating, 38% have the equivalent of a hold rating, and just 7% are rated as sells. Yet, history shows that far more than 7% of stocks will eventually head lower.</p>\n<p>Based on Wall Street's consensus price targets, the following five ultra-popular stocks are all expected to lose value over the coming 12 months.</p>\n<p><img src=\"https://static.tigerbbs.com/b04ade705354c4825038c4dfcd0187d9\" tg-width=\"700\" tg-height=\"500\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>Palantir Technologies: Implied downside of 12%</h3>\n<p>Since its direct listing in late September 2020, data-mining company <b>Palantir Technologies</b> (NYSE:PLTR) has been a favorite among growth and retail investors. But if Wall Street's <a href=\"https://laohu8.com/S/AONE\">one</a>-year consensus price target proves accurate, Palantir will head in reverse by up to 12%.</p>\n<p>The likeliest reason Wall Street is tempering expectations on Palantir is valuation. Specifically, Palantir ended June 17 with a market cap of nearly $48 billion, but is on track to bring in perhaps $1.5 billion in full-year sales in 2021. That's a multiple of about 32 times sales. Even if Palantir continues to grow its top-line at 30% annually, it could take years for this price-to-sales multiple to come down to anywhere close to the average for cloud stocks.</p>\n<p>Another possible concern is the growth potential for its government-focused Gotham platform. Big government contract wins in the U.S. have been primarily responsible for Palantir's exceptional growth rate. However, there remains an outside chance that President Joe Biden may curb funding to some of the federal agencies that employ Palantir's services.</p>\n<p>Over the long run, I'm optimistic and believe Palantir's platform is unlike anything else available. But tempering near-term expectations given its valuation premium may be warranted.</p>\n<p><img src=\"https://static.tigerbbs.com/a38605bee8e62f3e8aa414fa24278e7e\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>Moderna: Implied downside of 11%</h3>\n<p>Biotech stock <b>Moderna</b> (NASDAQ:MRNA) is arguably the biggest beneficiary of the coronavirus disease 2019 (COVID-19) pandemic. It's <a href=\"https://laohu8.com/S/AONE.U\">one</a> of only three drugmakers to currently have their COVID-19 vaccine approved on an emergency-use authorization (EUA) basis in the United States. But if Wall Street's consensus 12-month price target is correct, it's stock is also on its way to a double-digit decline.</p>\n<p>Why the lack of love from Wall Street? The answer looks to be analysts looking to the future. While Moderna's COVID-19 vaccine is a mainstay in the U.S., and it's likely to play a clear role in other markets, time might prove the company's enemy. Over time, new vaccines are expected to come onto the scene, which'll eat away at Moderna's potential pool of patients.</p>\n<p>The other worry is that no one is exactly certain how long COVID-19 vaccine immunity will last. If it's a year, Moderna is unlikely to be the only drugmaker supplying booster shots. Meanwhile, if it's longer than a year, it means reduced sales opportunities for the company.</p>\n<p>Based solely on Wall Street's earnings per share consensus in 2021 and 2022, Moderna appears reasonably priced. But with the company staring down a potentially significant haircut in revenue next year as new drugmakers enter the space, caution is advised.</p>\n<p><img src=\"https://static.tigerbbs.com/07841e6a8173146a0fbfddf95a0f1ccb\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>GameStop: Implied downside of 71%</h3>\n<p>This will probably come as a shock to no one, but Reddit favorite <b>GameStop</b> (NYSE:GME) is fully expected to fall flat on its face. Even though Wall Street's consensus price target for the company has quintupled in recent months, it <i>still</i> implies up to 71% downside over the next year.</p>\n<p>The biggest issue for GameStop is that its valuation has completely detached from its underlying fundamentals. While it's not uncommon for stocks to trade on emotion for short periods of time, operating performance is what always dictates the long-term movement in the share price of a stock. When it comes to operating performance, GameStop has been a dud.</p>\n<p>Although the company's first-quarter fiscal results highlighted a 25% net sales increase from the prior-year period, total sales for the company have been falling precipitously for years. That's because video game retailer GameStop recognized the shift to digital gaming too late, and it's now stuck with its massive portfolio of brick-and-mortar gaming stores. Even though e-commerce sales have been a bright spot for the company, slashing costs and closing stores remains its No. 1 priority.</p>\n<p>With sufficient cash, bankruptcy isn't a concern for GameStop. But without any true top-line growth and the company still losing money, it's an impossible sell at its current price tag.</p>\n<p><img src=\"https://static.tigerbbs.com/c7ff785aa0040a5565d474390f58b47a\" tg-width=\"700\" tg-height=\"457\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>Ocugen: Implied downside of 18%</h3>\n<p>Volatile clinical-stage biotech stock <b>Ocugen</b> (NASDAQ:OCGN) may also be in for an unpleasant next 12 months. The company behind an experimental COVID-19 vaccine (Covaxin) and a trio of internally developed eye-blindness candidates is expected to shed 18% of its value, if Wall Street's consensus price target is correct.</p>\n<p>Arguably the biggest issue for Ocugen is the clinical update the company issued on June 10 concerning Covaxin. Even though partner Bharat Biotech led a large clinical study in India that yielded an overall efficacy of 78%, along with 100% efficacy in preventing severe forms of COVID-19, Ocugen announced on June 10 that it would forgo seeking an EUA in the U.S. and would instead file for a biologics license application. In other words, Ocugen's path to a quick emergency approval in the U.S. just flew out the window.</p>\n<p>What's more, the U.S. Food and Drug Administration's requested additional information and data on Covaxin. This is a fancy of saying that Ocugen will very likely have to run a clinical study in the U.S. prior to submitting Covaxin for approval. That means added costs and an even longer wait before Ocugen has a chance to penetrate the lucrative U.S. market.</p>\n<p>Though it's impossible to predict how long COVID-19 vaccine immunity will last, Ocugen's chances of being a significant player in the U.S. COVID-19 vaccine space are dwindling.</p>\n<p><img src=\"https://static.tigerbbs.com/91f6037829ea3fb0ae1cae0b95d8d11e\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>NVIDIA: Implied downside of 3%</h3>\n<p>Don't adjust your computer, laptop, or smartphone screens -- that really says <b>NVIDIA</b> (NASDAQ:NVDA). Following its incredible run higher (NVIDIA has doubled over the past year), graphics processing unit giant NVIDIA closed 3% above Wall Street's consensus price target, as of June 17.</p>\n<p>One reason for tempered expectations at this point has to be valuation. Even with NVIDIA crushing expectations and seeing strong PC gaming demand, sales growth is expected to slow from an estimated 49% in fiscal 2022 to a high single digit percentage in each of the next two fiscal years. In fact, the company closed at nearly 20 times projected sales for the current fiscal year. That's a bit optimistic given an expected sales growth slowdown.</p>\n<p>Perhaps the other reason Wall Street expects NVIDIA to go sideways is the company's cryptocurrency mining chip segment. While sales of crypto chips could hit $400 million in the current quarter, demand is entirely dependent on the hype surrounding digital currencies and the favorability of technical charts. Crypto is just as well known for its long bear markets as it is for the big gains it's delivered over the past decade. If another lull strikes, a fast-growing ancillary segment for NVIDA could easily become a drag.</p>\n<p>For what it's worth, I see no fundamental reasons to sell NVIDIA if you're already a long-term shareholder. But if you're on the outside looking in, I don't exactly see $746 as an attractive entry point, either.</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>5 Ultra-Popular Stocks Wall Street Views as Overvalued</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\">\n5 Ultra-Popular Stocks Wall Street Views as Overvalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 21:01 GMT+8 <a href=https://www.fool.com/investing/2021/06/21/5-ultra-popular-stocks-wall-street-view-overvalued/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Generally speaking, it pays to be bullish on Wall Street. Despite navigating its way through Black Monday in 1987, the dot-com bubble, the Great Recession, and more recently the coronavirus crash, the...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/21/5-ultra-popular-stocks-wall-street-view-overvalued/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站","PLTR":"Palantir Technologies Inc.","NVDA":"英伟达","MRNA":"Moderna, Inc.","OCGN":"Ocugen"},"source_url":"https://www.fool.com/investing/2021/06/21/5-ultra-popular-stocks-wall-street-view-overvalued/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145084835","content_text":"Generally speaking, it pays to be bullish on Wall Street. Despite navigating its way through Black Monday in 1987, the dot-com bubble, the Great Recession, and more recently the coronavirus crash, the average annual total return for the benchmark S&P 500 since 1980, including dividends, is north of 11%.\nNot surprisingly, we see this optimism readily apparent in Wall Street's ratings on stocks. According to FactSet, more than half of all stocks carry a consensus buy rating, 38% have the equivalent of a hold rating, and just 7% are rated as sells. Yet, history shows that far more than 7% of stocks will eventually head lower.\nBased on Wall Street's consensus price targets, the following five ultra-popular stocks are all expected to lose value over the coming 12 months.\n\nImage source: Getty Images.\nPalantir Technologies: Implied downside of 12%\nSince its direct listing in late September 2020, data-mining company Palantir Technologies (NYSE:PLTR) has been a favorite among growth and retail investors. But if Wall Street's one-year consensus price target proves accurate, Palantir will head in reverse by up to 12%.\nThe likeliest reason Wall Street is tempering expectations on Palantir is valuation. Specifically, Palantir ended June 17 with a market cap of nearly $48 billion, but is on track to bring in perhaps $1.5 billion in full-year sales in 2021. That's a multiple of about 32 times sales. Even if Palantir continues to grow its top-line at 30% annually, it could take years for this price-to-sales multiple to come down to anywhere close to the average for cloud stocks.\nAnother possible concern is the growth potential for its government-focused Gotham platform. Big government contract wins in the U.S. have been primarily responsible for Palantir's exceptional growth rate. However, there remains an outside chance that President Joe Biden may curb funding to some of the federal agencies that employ Palantir's services.\nOver the long run, I'm optimistic and believe Palantir's platform is unlike anything else available. But tempering near-term expectations given its valuation premium may be warranted.\n\nImage source: Getty Images.\nModerna: Implied downside of 11%\nBiotech stock Moderna (NASDAQ:MRNA) is arguably the biggest beneficiary of the coronavirus disease 2019 (COVID-19) pandemic. It's one of only three drugmakers to currently have their COVID-19 vaccine approved on an emergency-use authorization (EUA) basis in the United States. But if Wall Street's consensus 12-month price target is correct, it's stock is also on its way to a double-digit decline.\nWhy the lack of love from Wall Street? The answer looks to be analysts looking to the future. While Moderna's COVID-19 vaccine is a mainstay in the U.S., and it's likely to play a clear role in other markets, time might prove the company's enemy. Over time, new vaccines are expected to come onto the scene, which'll eat away at Moderna's potential pool of patients.\nThe other worry is that no one is exactly certain how long COVID-19 vaccine immunity will last. If it's a year, Moderna is unlikely to be the only drugmaker supplying booster shots. Meanwhile, if it's longer than a year, it means reduced sales opportunities for the company.\nBased solely on Wall Street's earnings per share consensus in 2021 and 2022, Moderna appears reasonably priced. But with the company staring down a potentially significant haircut in revenue next year as new drugmakers enter the space, caution is advised.\n\nImage source: Getty Images.\nGameStop: Implied downside of 71%\nThis will probably come as a shock to no one, but Reddit favorite GameStop (NYSE:GME) is fully expected to fall flat on its face. Even though Wall Street's consensus price target for the company has quintupled in recent months, it still implies up to 71% downside over the next year.\nThe biggest issue for GameStop is that its valuation has completely detached from its underlying fundamentals. While it's not uncommon for stocks to trade on emotion for short periods of time, operating performance is what always dictates the long-term movement in the share price of a stock. When it comes to operating performance, GameStop has been a dud.\nAlthough the company's first-quarter fiscal results highlighted a 25% net sales increase from the prior-year period, total sales for the company have been falling precipitously for years. That's because video game retailer GameStop recognized the shift to digital gaming too late, and it's now stuck with its massive portfolio of brick-and-mortar gaming stores. Even though e-commerce sales have been a bright spot for the company, slashing costs and closing stores remains its No. 1 priority.\nWith sufficient cash, bankruptcy isn't a concern for GameStop. But without any true top-line growth and the company still losing money, it's an impossible sell at its current price tag.\n\nImage source: Getty Images.\nOcugen: Implied downside of 18%\nVolatile clinical-stage biotech stock Ocugen (NASDAQ:OCGN) may also be in for an unpleasant next 12 months. The company behind an experimental COVID-19 vaccine (Covaxin) and a trio of internally developed eye-blindness candidates is expected to shed 18% of its value, if Wall Street's consensus price target is correct.\nArguably the biggest issue for Ocugen is the clinical update the company issued on June 10 concerning Covaxin. Even though partner Bharat Biotech led a large clinical study in India that yielded an overall efficacy of 78%, along with 100% efficacy in preventing severe forms of COVID-19, Ocugen announced on June 10 that it would forgo seeking an EUA in the U.S. and would instead file for a biologics license application. In other words, Ocugen's path to a quick emergency approval in the U.S. just flew out the window.\nWhat's more, the U.S. Food and Drug Administration's requested additional information and data on Covaxin. This is a fancy of saying that Ocugen will very likely have to run a clinical study in the U.S. prior to submitting Covaxin for approval. That means added costs and an even longer wait before Ocugen has a chance to penetrate the lucrative U.S. market.\nThough it's impossible to predict how long COVID-19 vaccine immunity will last, Ocugen's chances of being a significant player in the U.S. COVID-19 vaccine space are dwindling.\n\nImage source: Getty Images.\nNVIDIA: Implied downside of 3%\nDon't adjust your computer, laptop, or smartphone screens -- that really says NVIDIA (NASDAQ:NVDA). Following its incredible run higher (NVIDIA has doubled over the past year), graphics processing unit giant NVIDIA closed 3% above Wall Street's consensus price target, as of June 17.\nOne reason for tempered expectations at this point has to be valuation. Even with NVIDIA crushing expectations and seeing strong PC gaming demand, sales growth is expected to slow from an estimated 49% in fiscal 2022 to a high single digit percentage in each of the next two fiscal years. In fact, the company closed at nearly 20 times projected sales for the current fiscal year. That's a bit optimistic given an expected sales growth slowdown.\nPerhaps the other reason Wall Street expects NVIDIA to go sideways is the company's cryptocurrency mining chip segment. While sales of crypto chips could hit $400 million in the current quarter, demand is entirely dependent on the hype surrounding digital currencies and the favorability of technical charts. Crypto is just as well known for its long bear markets as it is for the big gains it's delivered over the past decade. If another lull strikes, a fast-growing ancillary segment for NVIDA could easily become a drag.\nFor what it's worth, I see no fundamental reasons to sell NVIDIA if you're already a long-term shareholder. But if you're on the outside looking in, I don't exactly see $746 as an attractive entry point, either.","news_type":1},"isVote":1,"tweetType":1,"viewCount":73,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120328742,"gmtCreate":1624303244986,"gmtModify":1703832929841,"author":{"id":"3579522470848421","authorId":"3579522470848421","name":"RyanTay","avatar":"https://static.tigerbbs.com/5f44983b192c953dd5830205dc12ded4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579522470848421","authorIdStr":"3579522470848421"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120328742","repostId":"1132324443","repostType":4,"repost":{"id":"1132324443","pubTimestamp":1624286258,"share":"https://ttm.financial/m/news/1132324443?lang=&edition=fundamental","pubTime":"2021-06-21 22:37","market":"us","language":"en","title":"The bull market will get a $500 billion cash injection in the second half, Goldman says","url":"https://stock-news.laohu8.com/highlight/detail?id=1132324443","media":"cnbc","summary":"American families and professional money managers will drive demand for stocks for the remainder of ","content":"<div>\n<p>American families and professional money managers will drive demand for stocks for the remainder of 2021, plowing $500 billion of cash flows into equities through year’s end, according to Goldman ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/21/bull-market-will-get-500-billion-infusion-in-second-half-goldman.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>The bull market will get a $500 billion cash injection in the second half, Goldman says</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 bull market will get a $500 billion cash injection in the second half, Goldman says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 22:37 GMT+8 <a href=https://www.cnbc.com/2021/06/21/bull-market-will-get-500-billion-infusion-in-second-half-goldman.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>American families and professional money managers will drive demand for stocks for the remainder of 2021, plowing $500 billion of cash flows into equities through year’s end, according to Goldman ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/21/bull-market-will-get-500-billion-infusion-in-second-half-goldman.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","SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.cnbc.com/2021/06/21/bull-market-will-get-500-billion-infusion-in-second-half-goldman.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1132324443","content_text":"American families and professional money managers will drive demand for stocks for the remainder of 2021, plowing $500 billion of cash flows into equities through year’s end, according to Goldman Sachs.\nThe bank told its clients that it expects U.S. households and corporations to continue to add to their stock portfolios in the back half of 2021 amid a buildup of cash in money market funds, anemic credit yields and a rebound in retail trading.\n“We estimate that households currently allocate 44% of their assets to equities, slightly below the all-time high allocation of 46% in 2000. But high cash balances and continued retail participation in equity markets should bolster household equity demand,” Goldman Chief U.S. Equity Strategist David Kostin wrote in a note published Friday.\nSpecifically, Goldman raised its forecast for 2021 household net equity buying to $400 billion from $350 billion. Kostin noted that U.S. equity inflows are on pace for their strongest first half of a calendar year since at least 2007.\nCorporations should comprise the largest source of equity demand for the remainder of 2021, Goldman said, as stock buybacks accelerate and equity issuance slows from peak levels in the first quarter.\nWhile choppy in recent weeks, the U.S. stock market is off to a strong 2021 with almost half the year complete. The S&P 500 is up more than 11% since January, while the Dow Jones Industrial Average and Nasdaq Composite are up 9.7% and 8.6%, respectively.\nThose gains, already in excess of the average calendar year’s return, came as investors pivoted back into stocks sensitive to the broader economy and so-called reopening trades as the worst of the Covid-19 pandemic came to an end in the U.S. Further,lower bond yieldshave recently helped fuelrenewed interest in growth stocks, including tech names.\nThe Energy Select Sector SPDR Fund is up about 39% year to date as a rebound in demand for travel, and oil, sent crude prices back toward pre-pandemic highs.\nWhile Kostin did not issue any sector-specific recommendations in his note, he did tick off a number of factors that he says support his overarching bullish hypothesis.\nHe first cited a record $5.5 trillion of cash sitting on the financial “sidelines,” waiting to be deployed by fund managers. With the Federal Reserve unlikely to adjust the federal funds rate until late 2023, he argued, there’s little incentive to hold cash in the near term.\nGoldman also categorized current credit conditions as “unattractive,” with the bank’s rates strategists forecasting the rate on the 10-year Treasury note to climb about 45 basis points to 1.9% by year’s end.\nLast, Kostin said he expects a meaningful return of retail traders after a lull in the spring.\nIndividual traders sparked a spike in call option volumes in January and February, fueled in part by excess savings and federal stimulus checks. While some of that trading — in names likeGameStopandAMC Entertainment— drew concerns of mania, it underscored the power retail investors wield in the financial markets.","news_type":1},"isVote":1,"tweetType":1,"viewCount":119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120328442,"gmtCreate":1624303221486,"gmtModify":1703832929518,"author":{"id":"3579522470848421","authorId":"3579522470848421","name":"RyanTay","avatar":"https://static.tigerbbs.com/5f44983b192c953dd5830205dc12ded4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579522470848421","authorIdStr":"3579522470848421"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120328442","repostId":"1188659531","repostType":4,"repost":{"id":"1188659531","pubTimestamp":1624286592,"share":"https://ttm.financial/m/news/1188659531?lang=&edition=fundamental","pubTime":"2021-06-21 22:43","market":"us","language":"en","title":"This Big Tech Stock Is Always on Sale","url":"https://stock-news.laohu8.com/highlight/detail?id=1188659531","media":"The Wall Street Journal","summary":"Tencent’s anchor shareholder Prosus has revealed the value of its $39 billion portfolio of startups—","content":"<blockquote>\n Tencent’s anchor shareholder Prosus has revealed the value of its $39 billion portfolio of startups—and the full extent of its discount problem\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/7190040397780616cd6d06eb9b8f423c\" tg-width=\"879\" tg-height=\"513\">Getting 50% off isn’t such an unmissable opportunity when there is no end to the discounting in sight.</p>\n<p>Prosus is one of the most valuable tech companies listed in Europeby virtue of its big stakein Chinese internet giant Tencent, bought two decades ago for $34 million and now worth $216 billion, even after two share sales. The Amsterdam-based company also owns a portfolio of e-commerce startups that, like Tencent, have mainly thrived during the pandemic. Prosus revealed an estimate by Deloitte of their valuation for the first time Monday. According to the accounting firm, they are worth in aggregate $39 billion, up from roughly $20 billion a year ago.</p>\n<p>The strong valuation is a double-edged sword. It suggests that Prosus’ operations are headed in the right direction, but it also lays painfully bare the gulf between their value and its stock price. If you add the $39 billion to $216 billion for the Tencent stake, roughly $1 billion for a similar minority stake in Russian internet company Mail.ru and almost $12 billion in net cash, you get an implied equity value of $268 billion for Prosus. Its market capitalization is just $162 billion—a discount of 39%.</p>\n<p>The gap widens further if you step further up the ownership chain. Prosus is majority-owned by South African holding companyNaspers,NPSNY-0.70%whose shares trade roughly 23% below the value of its Prosus stake. Overall, Naspers shareholders are getting less than half the value of the internet businesses and stakes owned by Prosus.</p>\n<p>Such financial inefficiency might present an opportunity if the reasons weren’t so intractable. Naspers, which built the portfolio,spun Prosus offto reduce its own heavy weighting on the South African stock market, which gave portfolio managers an ongoing technical reason to sell its stock. Less than two years later, Naspers is as dominant on the exchange as ever.</p>\n<p>Prosus and Naspers have a new plan to address the problem, involving a cross-shareholding structure that will end in Prosus owning almost half of Naspers. The project received pushback from investors partly for its complexity, forcing the company to issue a public defense. Shareholders vote on the deal next month.</p>\n<p>Complexity may itself be one reason for the discount problem at Naspers and Prosus: Tying themselves in knots to answer one question just raises more. The only real resolution is a breakup, but the companies need their Tencent shares to fund bets on cash-draining industries like food delivery. They raised $14.6 billion by selling just 2% in April.</p>\n<p>Naspers and Prosus have an attractive portfolio, but investors can’t expect the current strategy to deliver anything close to full value for it.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>This Big Tech Stock Is Always on Sale</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\">\nThis Big Tech Stock Is Always on Sale\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 22:43 GMT+8 <a href=https://www.wsj.com/articles/this-big-tech-stock-is-always-on-sale-11624283672><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tencent’s anchor shareholder Prosus has revealed the value of its $39 billion portfolio of startups—and the full extent of its discount problem\n\nGetting 50% off isn’t such an unmissable opportunity ...</p>\n\n<a href=\"https://www.wsj.com/articles/this-big-tech-stock-is-always-on-sale-11624283672\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PROSF":"Prosus NV"},"source_url":"https://www.wsj.com/articles/this-big-tech-stock-is-always-on-sale-11624283672","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188659531","content_text":"Tencent’s anchor shareholder Prosus has revealed the value of its $39 billion portfolio of startups—and the full extent of its discount problem\n\nGetting 50% off isn’t such an unmissable opportunity when there is no end to the discounting in sight.\nProsus is one of the most valuable tech companies listed in Europeby virtue of its big stakein Chinese internet giant Tencent, bought two decades ago for $34 million and now worth $216 billion, even after two share sales. The Amsterdam-based company also owns a portfolio of e-commerce startups that, like Tencent, have mainly thrived during the pandemic. Prosus revealed an estimate by Deloitte of their valuation for the first time Monday. According to the accounting firm, they are worth in aggregate $39 billion, up from roughly $20 billion a year ago.\nThe strong valuation is a double-edged sword. It suggests that Prosus’ operations are headed in the right direction, but it also lays painfully bare the gulf between their value and its stock price. If you add the $39 billion to $216 billion for the Tencent stake, roughly $1 billion for a similar minority stake in Russian internet company Mail.ru and almost $12 billion in net cash, you get an implied equity value of $268 billion for Prosus. Its market capitalization is just $162 billion—a discount of 39%.\nThe gap widens further if you step further up the ownership chain. Prosus is majority-owned by South African holding companyNaspers,NPSNY-0.70%whose shares trade roughly 23% below the value of its Prosus stake. Overall, Naspers shareholders are getting less than half the value of the internet businesses and stakes owned by Prosus.\nSuch financial inefficiency might present an opportunity if the reasons weren’t so intractable. Naspers, which built the portfolio,spun Prosus offto reduce its own heavy weighting on the South African stock market, which gave portfolio managers an ongoing technical reason to sell its stock. Less than two years later, Naspers is as dominant on the exchange as ever.\nProsus and Naspers have a new plan to address the problem, involving a cross-shareholding structure that will end in Prosus owning almost half of Naspers. The project received pushback from investors partly for its complexity, forcing the company to issue a public defense. Shareholders vote on the deal next month.\nComplexity may itself be one reason for the discount problem at Naspers and Prosus: Tying themselves in knots to answer one question just raises more. The only real resolution is a breakup, but the companies need their Tencent shares to fund bets on cash-draining industries like food delivery. They raised $14.6 billion by selling just 2% in April.\nNaspers and Prosus have an attractive portfolio, but investors can’t expect the current strategy to deliver anything close to full value for it.","news_type":1},"isVote":1,"tweetType":1,"viewCount":300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358107145,"gmtCreate":1616670052887,"gmtModify":1704797155610,"author":{"id":"3579522470848421","authorId":"3579522470848421","name":"RyanTay","avatar":"https://static.tigerbbs.com/5f44983b192c953dd5830205dc12ded4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579522470848421","authorIdStr":"3579522470848421"},"themes":[],"htmlText":"Pray","listText":"Pray","text":"Pray","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358107145","repostId":"1170151822","repostType":4,"repost":{"id":"1170151822","pubTimestamp":1616662406,"share":"https://ttm.financial/m/news/1170151822?lang=&edition=fundamental","pubTime":"2021-03-25 16:53","market":"us","language":"en","title":"How Is Tesla Stock Worth $3,000? By Becoming Bigger Than Apple.","url":"https://stock-news.laohu8.com/highlight/detail?id=1170151822","media":"Barrons","summary":"ARK Invest’s Cathie Wood says Tesla stock could be worth $3,000 in five years. How is that possible?By becoming bigger than Apple is now. Some of her assumptions, however, may be overly optimistic.Over the weekend, ARK Invest’s disruption guru Cathie Wood put a five-year price target of $3,000 on Tesla. That’s higher than Piper Sandler analyst Alex Potter’s $1,200 target, the highest on the Street, but analysts are usually looking out 12 months, not multiple years.Wood isn’t producing that targe","content":"<p>ARK Invest’s Cathie Wood says Tesla stock could be worth $3,000 in five years. How is that possible? By becoming bigger than Apple is now. Some of her assumptions, however, may be overly optimistic.</p>\n<p>Over the weekend, ARK Invest’s disruption guru Cathie Wood put a five-year price target of $3,000 on Tesla. That’s higher than Piper Sandler analyst Alex Potter’s $1,200 target, the highest on the Street, but analysts are usually looking out 12 months, not multiple years.</p>\n<p>Wood isn’t producing that target out of thin air. When she released it, she also produced some of the assumptions underlying her view. But one thing stands out: For Tesla to trade $3,000, it would have to produce more sales and more Ebitda—short for earnings before interest, taxes, depreciation, and amortization—than Apple (AAPL) does now. Which makes sense, given that Tesla at $3,000 would be worth $3.6 trillion including management stock options, around 1.8 times the $2 trillion Apple is worth now.</p>\n<p>Overall, ARK expects Tesla to produce $700 billion in sales, $167 billion in cash flow, and $210 billion Ebitda by 2025. Apple generated about $274 billion in sales, $81 billion in operating cash flow, and $76 billion in Ebitda in its most recent fiscal year ended September 2020.</p>\n<p>The target, so far, hasn’t been the subject of a lot of critical analysis, beyond some angry tweets from Tesla (ticker: TSLA) bears. ARK didn’t respond to a request from <i>Barron’s</i> for comment about the new target price.</p>\n<p>To get there, Wood starts with the assumption that Tesla will sell between 5 million to 10 million cars by 2025. That’s a wide range. But a financial model is an average or best approximation of many assumptions. At the midpoint of ARK’s range, Tesla would sell about 7.5 million cars in 2025. That’s one area where ARK appears more bullish than most, including the company itself. It’s about three times higher than Wall Street is modeling and represents about 70% average annual growth. Tesla, for its part, is targeting 50% average annual growth in vehicle sales. It’s still a big number, but if Tesla grows at 50% then 2025 sales end up at about 3.8 million units in 2025.</p>\n<p>But the Bull case on Tesla is about more than auto sales.Autonomous taxis drive a big part of the ARK increased price target. ARK projects $327 billion in autonomous taxi revenue for 2025, almost as large as the vehicle business. Tesla’s car business is projected to generate roughly $90 billion in Ebitda, while the robotaxi business generates about $70 billion in Ebitda, according to the model. Today, however, autonomous taxis produce no revenue and no Ebitda at all yet.</p>\n<p>“Cathie is very bullish on robotaxis and many of Tesla’s next-generation endeavors, which could add another $500 per share to the stock in our opinion,” says Wedbush analyst Dan Ives.</p>\n<p>Still, some of the assumptions ARK uses to get to these numbers look a little generous. ARK assumes that Tesla’s working capital—all the inventory and accounts receivables along with short-term financing used to operate a business—in 2025 will be around $12 billion, roughly the same as 2020. It’s almost impossible that a car company manufacturing 15 times the number of vehicles it does today will have the same working capital requirements.</p>\n<p>That’s a smaller problem in the grand scheme of things, but it overstates the cash-generating ability of Tesla a little bit. ARK expects about $167 billion in “cash generation” by 2025. It isn’t clear if that is free cash flow or cash from operations. Either way, it’s a lot of cash, about two times the cash flow generated by Apple over the past 12 months</p>\n<p>ARK also assumes that Tesla’s insurance business, with all the autonomous driving data coming off its cars, will be able to produce twice the profit margins of traditional auto insurance companies. It’s not a huge part of Tesla’s business: ARK sees Tesla insurance generating about $2.5 billion in operating profit in 2025, just 1.25% of Ark’s $200 billion operating profit estimate for the company in 2025. Tesla generated about $2 billion in operating profit this past year.</p>\n<p>But Tesla won’t be the only one innovating. Even Elon Musk thinks other companies will have similar systems eventually. “Eventually, every car company will have long-range electric cars,” Musk said at the company’s recent annual shareholder meeting. “Eventually, every company will have autonomy, I think, but not every company will be great at manufacturing.”</p>\n<p>Whether ARK’s numbers seem realistic or like a hopeless pipe dream likely depends on where one stands on Tesla. If it’s a car company, its current $700 billion valuation looks extreme compared with Toyota (TM), the world’s second most valuable auto maker with a market cap of $250 billion, or Volkswagen (VOW.Germany), the world’s largest auto maker by the number of cars produced, which has a market cap of about $160 billion.</p>\n<p>ARK’s bet is that Tesla is something else altogether, something more like Apple. We’ll find out in 2025 if Wood is right.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How Is Tesla Stock Worth $3,000? By Becoming Bigger Than Apple.</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 Is Tesla Stock Worth $3,000? By Becoming Bigger Than Apple.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 16:53 GMT+8 <a href=https://www.barrons.com/articles/how-is-tesla-worth-3-000-by-becoming-bigger-than-apple-51616617173?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest’s Cathie Wood says Tesla stock could be worth $3,000 in five years. How is that possible? By becoming bigger than Apple is now. Some of her assumptions, however, may be overly optimistic.\n...</p>\n\n<a href=\"https://www.barrons.com/articles/how-is-tesla-worth-3-000-by-becoming-bigger-than-apple-51616617173?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/how-is-tesla-worth-3-000-by-becoming-bigger-than-apple-51616617173?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170151822","content_text":"ARK Invest’s Cathie Wood says Tesla stock could be worth $3,000 in five years. How is that possible? By becoming bigger than Apple is now. Some of her assumptions, however, may be overly optimistic.\nOver the weekend, ARK Invest’s disruption guru Cathie Wood put a five-year price target of $3,000 on Tesla. That’s higher than Piper Sandler analyst Alex Potter’s $1,200 target, the highest on the Street, but analysts are usually looking out 12 months, not multiple years.\nWood isn’t producing that target out of thin air. When she released it, she also produced some of the assumptions underlying her view. But one thing stands out: For Tesla to trade $3,000, it would have to produce more sales and more Ebitda—short for earnings before interest, taxes, depreciation, and amortization—than Apple (AAPL) does now. Which makes sense, given that Tesla at $3,000 would be worth $3.6 trillion including management stock options, around 1.8 times the $2 trillion Apple is worth now.\nOverall, ARK expects Tesla to produce $700 billion in sales, $167 billion in cash flow, and $210 billion Ebitda by 2025. Apple generated about $274 billion in sales, $81 billion in operating cash flow, and $76 billion in Ebitda in its most recent fiscal year ended September 2020.\nThe target, so far, hasn’t been the subject of a lot of critical analysis, beyond some angry tweets from Tesla (ticker: TSLA) bears. ARK didn’t respond to a request from Barron’s for comment about the new target price.\nTo get there, Wood starts with the assumption that Tesla will sell between 5 million to 10 million cars by 2025. That’s a wide range. But a financial model is an average or best approximation of many assumptions. At the midpoint of ARK’s range, Tesla would sell about 7.5 million cars in 2025. That’s one area where ARK appears more bullish than most, including the company itself. It’s about three times higher than Wall Street is modeling and represents about 70% average annual growth. Tesla, for its part, is targeting 50% average annual growth in vehicle sales. It’s still a big number, but if Tesla grows at 50% then 2025 sales end up at about 3.8 million units in 2025.\nBut the Bull case on Tesla is about more than auto sales.Autonomous taxis drive a big part of the ARK increased price target. ARK projects $327 billion in autonomous taxi revenue for 2025, almost as large as the vehicle business. Tesla’s car business is projected to generate roughly $90 billion in Ebitda, while the robotaxi business generates about $70 billion in Ebitda, according to the model. Today, however, autonomous taxis produce no revenue and no Ebitda at all yet.\n“Cathie is very bullish on robotaxis and many of Tesla’s next-generation endeavors, which could add another $500 per share to the stock in our opinion,” says Wedbush analyst Dan Ives.\nStill, some of the assumptions ARK uses to get to these numbers look a little generous. ARK assumes that Tesla’s working capital—all the inventory and accounts receivables along with short-term financing used to operate a business—in 2025 will be around $12 billion, roughly the same as 2020. It’s almost impossible that a car company manufacturing 15 times the number of vehicles it does today will have the same working capital requirements.\nThat’s a smaller problem in the grand scheme of things, but it overstates the cash-generating ability of Tesla a little bit. ARK expects about $167 billion in “cash generation” by 2025. It isn’t clear if that is free cash flow or cash from operations. Either way, it’s a lot of cash, about two times the cash flow generated by Apple over the past 12 months\nARK also assumes that Tesla’s insurance business, with all the autonomous driving data coming off its cars, will be able to produce twice the profit margins of traditional auto insurance companies. It’s not a huge part of Tesla’s business: ARK sees Tesla insurance generating about $2.5 billion in operating profit in 2025, just 1.25% of Ark’s $200 billion operating profit estimate for the company in 2025. Tesla generated about $2 billion in operating profit this past year.\nBut Tesla won’t be the only one innovating. Even Elon Musk thinks other companies will have similar systems eventually. “Eventually, every car company will have long-range electric cars,” Musk said at the company’s recent annual shareholder meeting. “Eventually, every company will have autonomy, I think, but not every company will be great at manufacturing.”\nWhether ARK’s numbers seem realistic or like a hopeless pipe dream likely depends on where one stands on Tesla. If it’s a car company, its current $700 billion valuation looks extreme compared with Toyota (TM), the world’s second most valuable auto maker with a market cap of $250 billion, or Volkswagen (VOW.Germany), the world’s largest auto maker by the number of cars produced, which has a market cap of about $160 billion.\nARK’s bet is that Tesla is something else altogether, something more like Apple. We’ll find out in 2025 if Wood is right.","news_type":1},"isVote":1,"tweetType":1,"viewCount":203,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}