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2021-05-01

Is Baidu a buy now?

2021-05-06

To buy or not to buy?

2021-05-16

The most valuable company.

2021-05-02

Classic wedge is happening!

2021-05-13

$Tesla Motors(TSLA)$Time to DCA

2021-05-05

Tesla is on a symmetric wedge formation around 700$.

2021-07-29

Raffles Medical becoming investors favorite.

2021-06-15

After many months of sideways price action, Adobe finally broke the resistance to reach ATH.

2021-04-16

Nvidia is disrupting the semiconductor sector yet again!

2021-07-16

Nanofilm is truly unrivaled.

2021-07-04

Can Union Gas go higher?

2021-06-25

Great ariticle, would you like to share it?

Is Amazon Stock A Better Buy Than Apple Through 2025?

2021-06-20

SPAC by Bill Ackman?

2021-04-21

Anyone gearing up to pre order the latest Apple devices?

Apple Introduces iPhone 12 and iPhone 12 mini in a Stunning New Purple

2022-04-21

Great ariticle, would you like to share it?

Nvidia: Growth Beyond Moore's Law

2021-07-22

Recovery play

2021-07-10

Bear to Bull?

2021-06-16

Bubble?

It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks

2021-05-21

Great ariticle, would you like to share it?

Why the future for Microsoft, Amazon, Google, Apple and other pricey growth stocks isn’t so bright

2021-07-21

SG banks stock are back in focus. All eyes on the lifting of dividend cap.

Go to Tiger App to see more news

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latest acquisition","listText":"Camplify latest acquisition","text":"Camplify latest acquisition","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9960983487","repostId":"2276390684","repostType":2,"repost":{"id":"2276390684","kind":"highlight","pubTimestamp":1666108800,"share":"https://ttm.financial/m/news/2276390684?lang=&edition=fundamental","pubTime":"2022-10-19 00:00","language":"en","title":"Camplify set to double in size through $47.6m acquisition of Germany’s PaulCamper","url":"https://stock-news.laohu8.com/highlight/detail?id=2276390684","media":"Business News Australia","summary":"Peer-to-peer recreational vehicle sharing platform Camplify (ASX: C...","content":"<html><body><div itemprop=\"articleBody\"><p>Peer-to-peer recreational vehicle sharing platform Camplify (ASX: CHL) is poised to expand its market position in Europe through a $47.6 million acquisition of Germany’s PaulCamper.</p><p>The acquisition, accompanied by an $8.5 million capital raising by Camplify to fund further growth initiatives, will position the Australian company as a major global player in the RV rental market, doubling its size by bringing on board PaulCamper’s fleet of 5,500 RVs in Europe.</p><p>PaulCamper, founded in 2013 by Dirk Fehse, has a foothold in Germany, the Netherlands and Austria, which will add to Camplify’s existing operations in Australia, New Zealand, Spain and the UK.</p><p>Camplify will fund the deal via a $1.8 million cash payment and the issue of $45.8 million in Camplify shares to PaulCamper at a price of $1.9624 per share.</p><p>“This acquisition delivers Camplify a strategic and targeted growth opportunity in Europe, securing the largest key market, Germany,” says Camplify CEO and founder Justin Hales.</p><p>“It provides Camplify with an excellent team of digital marketplace professionals based in Europe, allowing us as a group to optimise and look for expansion opportunities.</p><p>“I am extremely impressed by the PaulCamper operation, and excited by the ability these transactions provide us to build our business and accelerate our pathway towards cashflow positive position and profitability with significant ability to grow revenue through vertically integrated products.”</p><p>PaulCamper CEO Fehse, who will stay on as head of the European operations, has revealed that the merger of the companies has been in the wings for the past three years.</p><p>“In 2019 Justin and myself met and discussed our shared vision and desire to create a community of RV owners globally who have the passion to share their RVs,” Fehse says.</p><p>“As a business that has secured key markets in Europe, PaulCamper is pleased to take this next step and be a part of a global public company on the journey with Camplify.”</p><p>Camplify says the acquisition is EBITDA accretive at 28.9 per cent before accounting for synergies on a pro-forma basis for FY22.</p><p>The company is raising $8.5 million via a two-tranche placement, at a discounted issue price of $1.70 a share, with the funds to be used to expand Camplify’s insurance division and to assist in delivering synergies from the PaulCamper acquisition.</p><p>A further $2 million capital raising will be offered to shareholders via a share purchase plan once the acquisition is approved by shareholders.</p><p>Camplify posted an $8.2 million loss in FY22, despite a 75 per cent increase in revenue. The company says the PaulCamper acquisition is expected to accelerate the company’s pathway to profitability.</p><p>Camplify shares were trading 9.9 per cent higher at $2.21 at 2.22pm AEDT.</p><div><p>Help us deliver quality journalism to you.As a free and independent news site providing daily updates\r\n                  during a period of unprecedented challenges for businesses everywherewe call on your support</p><div>Support Us</div></div></div></body></html>","source":"businessau_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>Camplify set to double in size through $47.6m acquisition of Germany’s PaulCamper</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\">\nCamplify set to double in size through $47.6m acquisition of Germany’s PaulCamper\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-19 00:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businessnewsaustralia.com/articles/camplify-set-to-double-in-size-through--47-6m-acquisition-of-germany-s-paulcamper.html><strong>Business News Australia</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Peer-to-peer recreational vehicle sharing platform Camplify (ASX: CHL) is poised to expand its market position in Europe through a $47.6 million acquisition of Germany’s PaulCamper.The acquisition, ...</p>\n\n<a href=\"https://www.businessnewsaustralia.com/articles/camplify-set-to-double-in-size-through--47-6m-acquisition-of-germany-s-paulcamper.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://assets.cdn.thewebconsole.com/S3WEB6082/a_images/634f6ca6c7a58.jpg?v=2&m=6aae426f5af7f52af26aa35cac9e8726&lqip(10)","relate_stocks":{"CHL.AU":"CAMPLIFY HOLDINGS LTD","XKO.AU":"标普/澳交所 300指数","XAO.AU":"标普/澳交所 普通股指数","XJO.AU":"标普/澳交所 200指数"},"source_url":"https://www.businessnewsaustralia.com/articles/camplify-set-to-double-in-size-through--47-6m-acquisition-of-germany-s-paulcamper.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2276390684","content_text":"Peer-to-peer recreational vehicle sharing platform Camplify (ASX: CHL) is poised to expand its market position in Europe through a $47.6 million acquisition of Germany’s PaulCamper.The acquisition, accompanied by an $8.5 million capital raising by Camplify to fund further growth initiatives, will position the Australian company as a major global player in the RV rental market, doubling its size by bringing on board PaulCamper’s fleet of 5,500 RVs in Europe.PaulCamper, founded in 2013 by Dirk Fehse, has a foothold in Germany, the Netherlands and Austria, which will add to Camplify’s existing operations in Australia, New Zealand, Spain and the UK.Camplify will fund the deal via a $1.8 million cash payment and the issue of $45.8 million in Camplify shares to PaulCamper at a price of $1.9624 per share.“This acquisition delivers Camplify a strategic and targeted growth opportunity in Europe, securing the largest key market, Germany,” says Camplify CEO and founder Justin Hales.“It provides Camplify with an excellent team of digital marketplace professionals based in Europe, allowing us as a group to optimise and look for expansion opportunities.“I am extremely impressed by the PaulCamper operation, and excited by the ability these transactions provide us to build our business and accelerate our pathway towards cashflow positive position and profitability with significant ability to grow revenue through vertically integrated products.”PaulCamper CEO Fehse, who will stay on as head of the European operations, has revealed that the merger of the companies has been in the wings for the past three years.“In 2019 Justin and myself met and discussed our shared vision and desire to create a community of RV owners globally who have the passion to share their RVs,” Fehse says.“As a business that has secured key markets in Europe, PaulCamper is pleased to take this next step and be a part of a global public company on the journey with Camplify.”Camplify says the acquisition is EBITDA accretive at 28.9 per cent before accounting for synergies on a pro-forma basis for FY22.The company is raising $8.5 million via a two-tranche placement, at a discounted issue price of $1.70 a share, with the funds to be used to expand Camplify’s insurance division and to assist in delivering synergies from the PaulCamper acquisition.A further $2 million capital raising will be offered to shareholders via a share purchase plan once the acquisition is approved by shareholders.Camplify posted an $8.2 million loss in FY22, despite a 75 per cent increase in revenue. The company says the PaulCamper acquisition is expected to accelerate the company’s pathway to profitability.Camplify shares were trading 9.9 per cent higher at $2.21 at 2.22pm AEDT.Help us deliver quality journalism to you.As a free and independent news site providing daily updates\r\n                  during a period of unprecedented challenges for businesses everywherewe call on your supportSupport Us","news_type":1},"isVote":1,"tweetType":1,"viewCount":231,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9082183221,"gmtCreate":1650539378971,"gmtModify":1676534747010,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9082183221","repostId":"2229797806","repostType":2,"repost":{"id":"2229797806","kind":"news","pubTimestamp":1650509285,"share":"https://ttm.financial/m/news/2229797806?lang=&edition=fundamental","pubTime":"2022-04-21 10:48","market":"us","language":"en","title":"Nvidia: Growth Beyond Moore's Law","url":"https://stock-news.laohu8.com/highlight/detail?id=2229797806","media":"seekingalpha","summary":"SummaryGlobal demand for computation power continues to grow exponentially, but unfortunately, CPU c","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Global demand for computation power continues to grow exponentially, but unfortunately, CPU capacity no longer grows exponentially. Moore&#39;s law has ended.</li><li>NVIDIA&#39;s GPU-accelerated computing has the best shot at meeting the continuously increasing computational demand.</li><li>Demand for their data center and professional visualization is accelerating, while growth from gaming remains outstanding.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9efbb9b3ba633f1f838307996a187d20\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/><span>Justin Sullivan/Getty Images News</span></p><p><b>Investment Thesis</b></p><p>NVIDIA (NASDAQ: NASDAQ:NVDA) initially started as a manufacturer of Graphics Processing Unit (GPU), and saw massive success as the gaming industry grew. Leveraging their superior GPU architecture and significant resources (technology, human capital, and cash), they branched out into scientific computing, artificial intelligence, data platforms, robotics, and other related fields. In particular, their GPU-accelerated computing has the best shot at answering the growing demand for computing power. The recent market volatility has lowered NVIDIA stock below its intrinsic value, and investors should take advantage because:</p><ul><li>Global demand for computing power is growing at an exponential rate, but CPU capacity isn&#39;t keeping pace. It is no longer following Moore&#39;s law of doubling every two years. NVIDIA&#39;s GPU-accelerated computing has the best shot at meeting the exponential growth in computing power.</li><li>Revenue growth is accelerating for the data center and professional visualization segments, while demand for gaming products remains outstanding.</li><li>Thanks to their superior products and economic moat, they enjoy outstanding profitability and massive cash flow.</li></ul><p><b>Solution for Post Moore&#39;s law Era</b></p><p>As we are all aware, the need for computing power is increasing at a rapid pace. Today, high-performance computing is being used in just about every industry, and the growth of block-chain technology, artificial intelligence, health care data usage, and data science are all contributing to the massive growth in demand for computing power. The unfortunate part is that the Central Processing Unit (CPU)&#39;s capacity no longer follows Moore&#39;s law anymore, and the growth rate has slowed from its historical trend.</p><p>Leveraging their superior GPU architecture and advanced technology, NVIDIA became a leader in GPU-accelerated computing, and they have the best shot at meeting the exponentially growing demand for computing power. Currently, NVIDIA&#39;s GPU and networking are able to accelerate many of the fastest supercomputers around the world. Also, their massively parallel computing architecture and associated software are well suited for deep learning, machine learning, and other artificial intelligence-related fields. The detail of the architecture is given in the next segment. Given their dominant leadership position in the GPU segment, superb R&amp;D team, and massive financial and technology resources, I expect them to remain a superpower in the high-performance computing industry.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a541f036692908f17b111307c62dcc7f\" tg-width=\"438\" tg-height=\"291\" width=\"100%\" height=\"auto\"/><span>Death of Moore&#39;s Law and GPU-Computing Performance (NVIDIA Investor Relations)</span></p><p><b>Why is GPU-accelerated computing better than a traditional CPU?</b></p><p>GPU is better able to meet higher computational demands than a CPU. Compared to a CPU, GPU has a lot more cores and is capable of much higher data processing throughput. Therefore, a GPU can break complex problems into thousands of separate tasks and work all at once (parallel computing). In contrast, CPU has low latency and zips through a series of problems at a much faster pace.</p><p>NVIDIA is the pioneer in GPU-accelerated computing platform. They have built a very powerful computation platform by combining the CPU and GPU to get the strengths of both. CPU acts as the quarterback of the system to host the unified and balanced system, the GPU accelerates the computing power with its high throughput capacity, and the Data Processing Units (DPUs) provide enhanced and accelerated networking. Leveraging their expertise in the GPU processing, I expect them to keep the lead in high-performance computing for a while.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9395c1954314b57b02b6aee76949ee25\" tg-width=\"292\" tg-height=\"172\" width=\"100%\" height=\"auto\"/><span>Difference Between CPU and GPU (NVIDIA Blog)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/95949cf42536303a865925e32b323897\" tg-width=\"614\" tg-height=\"254\" width=\"100%\" height=\"auto\"/><span>Comparison between traditional CPU vs. GPU accelerated computing (NVIDIA Blog)</span></p><p><b>Accelerating demand for their products</b></p><p>Thanks to their superior technology and performance, demand for their products is accelerating. The revenue growth for the data center and professional visualization segments achieved a staggering 71% and 109% YoY, respectively. The main growth drivers for the data center segment were a growing AI workload (deep learning, machine learning, and natural language processing) and cloud computing, while the drivers for professional visualization were the buildout of the hybrid work environment, 3D design, and rendering. The demand for their main segment, gaming, remained strong with 37% YoY growth.</p><p>Due to the increasing demand for automation and broadening applications for artificial intelligence, the market size for related fields will only continue to increase. Given their dominant leadership position in the GPU segment (83%) and superior computing platform design, I expect NVIDIA to maintain a superior growth trajectory across all three segments in the near future and achieve growth that is even higher than their historic levels (5 year average of 34%). They will certainly remain among my top picks for tech stocks for a while.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7786e73c2621f0d201b83456308db814\" tg-width=\"640\" tg-height=\"379\" width=\"100%\" height=\"auto\"/><span>Gaming Segment Performance (NVIDIA Investor Relations)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7328c22425b85f0f3dc425b6b06df6de\" tg-width=\"640\" tg-height=\"388\" width=\"100%\" height=\"auto\"/><span>Data Center Performance (NVIDIA Investor Relations)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/397cf85c2d69b9bf8ab6b747d14b5696\" tg-width=\"640\" tg-height=\"385\" width=\"100%\" height=\"auto\"/><span>Professional Visualization Performance (NVIDIA Investor Relations)</span></p><p><b>Outstanding profitability and cash flow</b></p><p>Superior technology and brand recognition provides an outstanding economic moat for NVIDIA, and this translates into the aforementioned superb market share and profitability. To give you a perspective of their dominance (market share of 83%), the market share of Microsoft Windows is about 75% on desktop, and the market share of Google is above 90% on search engine. NVIDIA is amongst impressive company. Also, given the increasing demand for computational power and NVIDIA&#39;s leadership position in high-performance computing platform, I expect the market share may increase in the future.</p><p>Leveraging their dominance, they can charge a steep premium on their products and services. This clearly shows up in their profit metrics. All of these metrics (EBIT margin, EBITDA margin, and Net income margin) are well above the sector median. Not only are the profit margins superior, but they have actually been increasing over the past three years, indicating that they are maintaining their superiority. Not surprisingly, given their superb profit margin and fast-rising revenue, they generate a massive operating cash flow ($9.1 B in 2021). I expect this to continue to be the case in the foreseeable future.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a8dafec76b7257c535e7be181cba0c9e\" tg-width=\"635\" tg-height=\"450\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a12bad0cda765dabed780de5d882efb3\" tg-width=\"520\" tg-height=\"303\" width=\"100%\" height=\"auto\"/><span>NVIDIA Profitability Metric (Seeking Alpha)</span></p><p><b>Intrinsic Value Estimation</b></p><p>I used DCF model to estimate the intrinsic value of NVIDIA. For the estimation, I utilized current operating cash flow ($9.1 B) and current WACC of 8.0% as the discount rate. For the base case, I assumed operating cash flow growth of 50% (mid point between historic value and most recent growth) for the next 5 years and zero growth afterwards (zero terminal growth). For the bullish and very bullish case, I assumed cash flow growth of 52% and 55%, respectively, for the next 5 years and zero growth afterwards. Given the most recent revenue growth was 61.4%, the growth rate of 52% and 55% are well within reason.</p><p>The estimation revealed that the current stock price presents 10-20% upside. Current market volatility is providing a rare opportunity to grab NVIDIA shares at a discount, and I think investors should take advantage of the opportunity. Given their superiority and market dominance, the stock price will achieve its intrinsic value or even trade at a premium in the long run.</p><p><img src=\"https://static.tigerbbs.com/6df7e49d2ebaa7d49c9eb8b97475f416\" tg-width=\"826\" tg-height=\"250\" width=\"100%\" height=\"auto\"/></p><p>The assumptions and data used for the price target estimation are summarized below:</p><ul><li>WACC: 8.0%</li><li>Cash Flow Growth Rate: 50% (Base Case), 52% (Bullish Case), 55% (Very Bullish Case)</li><li>Current Cash Flow: $9.1 B</li><li>Current Stock Price: $221.98 (04/19/2022)</li><li>Tax rate: 20%</li></ul><p><b>Risk</b></p><p>Reflecting the popularity of the company and its high growth expectations, the valuation of NVIDIA remains high even after the market-wide sell off. The P/E ratio of NVIDIA (TTM) is at 55.22x, which is almost twice that of the sector median, 26.38x. The high valuation leaves little room for disappointment, and any miss on revenue or profit could result in a substantial drop in stock price. This is especially true during rising interest rates, which typically hits growth stocks the hardest. Therefore, the investor should monitor the macroeconomic indicators.</p><p>The fields in which NVIDIA competes (GPU, Artificial Intelligence, and computing) are highly competitive, and there is always a chance of a new entrant or existing superpower (e.g., Intel, Google, etc) emerging with new technology that disrupts the market. For example, Apple cut ties with Intel a couple of years ago and started manufacturing their own CPU, which has been performing very well. The investor must keep up with rapid changes within the highly competitive tech landscape.</p><p><b>Conclusion</b></p><p>NVIDIA has been a superb investment, and a darling of Wall Street, for several years at this point. Given their superb technology and outstanding products, I expect the trend to continue. Also, the ever-increasing demand for computing power will accelerate NVIDIA&#39;s revenue growth for the foreseeable future. High valuation and the possibility of new technology may challenge NVIDIA, but they hold massive resources which should enable them to handle these threats. Overall, I expect 10-20% return in the long run.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia: Growth Beyond Moore's Law</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\">\nNvidia: Growth Beyond Moore's Law\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-21 10:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4502479-nvidia-growth-beyond-moores-law><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryGlobal demand for computation power continues to grow exponentially, but unfortunately, CPU capacity no longer grows exponentially. Moore's law has ended.NVIDIA's GPU-accelerated computing has ...</p>\n\n<a href=\"https://seekingalpha.com/article/4502479-nvidia-growth-beyond-moores-law\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4503":"景林资产持仓","BK4532":"文艺复兴科技持仓","BK4551":"寇图资本持仓","BK4548":"巴美列捷福持仓","NVDA":"英伟达","BK4554":"元宇宙及AR概念","BK4527":"明星科技股","BK4543":"AI","BK4567":"ESG概念","BK4529":"IDC概念","BK4534":"瑞士信贷持仓","BK4141":"半导体产品","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4581":"高盛持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4549":"软银资本持仓"},"source_url":"https://seekingalpha.com/article/4502479-nvidia-growth-beyond-moores-law","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2229797806","content_text":"SummaryGlobal demand for computation power continues to grow exponentially, but unfortunately, CPU capacity no longer grows exponentially. Moore's law has ended.NVIDIA's GPU-accelerated computing has the best shot at meeting the continuously increasing computational demand.Demand for their data center and professional visualization is accelerating, while growth from gaming remains outstanding.Justin Sullivan/Getty Images NewsInvestment ThesisNVIDIA (NASDAQ: NASDAQ:NVDA) initially started as a manufacturer of Graphics Processing Unit (GPU), and saw massive success as the gaming industry grew. Leveraging their superior GPU architecture and significant resources (technology, human capital, and cash), they branched out into scientific computing, artificial intelligence, data platforms, robotics, and other related fields. In particular, their GPU-accelerated computing has the best shot at answering the growing demand for computing power. The recent market volatility has lowered NVIDIA stock below its intrinsic value, and investors should take advantage because:Global demand for computing power is growing at an exponential rate, but CPU capacity isn't keeping pace. It is no longer following Moore's law of doubling every two years. NVIDIA's GPU-accelerated computing has the best shot at meeting the exponential growth in computing power.Revenue growth is accelerating for the data center and professional visualization segments, while demand for gaming products remains outstanding.Thanks to their superior products and economic moat, they enjoy outstanding profitability and massive cash flow.Solution for Post Moore's law EraAs we are all aware, the need for computing power is increasing at a rapid pace. Today, high-performance computing is being used in just about every industry, and the growth of block-chain technology, artificial intelligence, health care data usage, and data science are all contributing to the massive growth in demand for computing power. The unfortunate part is that the Central Processing Unit (CPU)'s capacity no longer follows Moore's law anymore, and the growth rate has slowed from its historical trend.Leveraging their superior GPU architecture and advanced technology, NVIDIA became a leader in GPU-accelerated computing, and they have the best shot at meeting the exponentially growing demand for computing power. Currently, NVIDIA's GPU and networking are able to accelerate many of the fastest supercomputers around the world. Also, their massively parallel computing architecture and associated software are well suited for deep learning, machine learning, and other artificial intelligence-related fields. The detail of the architecture is given in the next segment. Given their dominant leadership position in the GPU segment, superb R&D team, and massive financial and technology resources, I expect them to remain a superpower in the high-performance computing industry.Death of Moore's Law and GPU-Computing Performance (NVIDIA Investor Relations)Why is GPU-accelerated computing better than a traditional CPU?GPU is better able to meet higher computational demands than a CPU. Compared to a CPU, GPU has a lot more cores and is capable of much higher data processing throughput. Therefore, a GPU can break complex problems into thousands of separate tasks and work all at once (parallel computing). In contrast, CPU has low latency and zips through a series of problems at a much faster pace.NVIDIA is the pioneer in GPU-accelerated computing platform. They have built a very powerful computation platform by combining the CPU and GPU to get the strengths of both. CPU acts as the quarterback of the system to host the unified and balanced system, the GPU accelerates the computing power with its high throughput capacity, and the Data Processing Units (DPUs) provide enhanced and accelerated networking. Leveraging their expertise in the GPU processing, I expect them to keep the lead in high-performance computing for a while.Difference Between CPU and GPU (NVIDIA Blog)Comparison between traditional CPU vs. GPU accelerated computing (NVIDIA Blog)Accelerating demand for their productsThanks to their superior technology and performance, demand for their products is accelerating. The revenue growth for the data center and professional visualization segments achieved a staggering 71% and 109% YoY, respectively. The main growth drivers for the data center segment were a growing AI workload (deep learning, machine learning, and natural language processing) and cloud computing, while the drivers for professional visualization were the buildout of the hybrid work environment, 3D design, and rendering. The demand for their main segment, gaming, remained strong with 37% YoY growth.Due to the increasing demand for automation and broadening applications for artificial intelligence, the market size for related fields will only continue to increase. Given their dominant leadership position in the GPU segment (83%) and superior computing platform design, I expect NVIDIA to maintain a superior growth trajectory across all three segments in the near future and achieve growth that is even higher than their historic levels (5 year average of 34%). They will certainly remain among my top picks for tech stocks for a while.Gaming Segment Performance (NVIDIA Investor Relations)Data Center Performance (NVIDIA Investor Relations)Professional Visualization Performance (NVIDIA Investor Relations)Outstanding profitability and cash flowSuperior technology and brand recognition provides an outstanding economic moat for NVIDIA, and this translates into the aforementioned superb market share and profitability. To give you a perspective of their dominance (market share of 83%), the market share of Microsoft Windows is about 75% on desktop, and the market share of Google is above 90% on search engine. NVIDIA is amongst impressive company. Also, given the increasing demand for computational power and NVIDIA's leadership position in high-performance computing platform, I expect the market share may increase in the future.Leveraging their dominance, they can charge a steep premium on their products and services. This clearly shows up in their profit metrics. All of these metrics (EBIT margin, EBITDA margin, and Net income margin) are well above the sector median. Not only are the profit margins superior, but they have actually been increasing over the past three years, indicating that they are maintaining their superiority. Not surprisingly, given their superb profit margin and fast-rising revenue, they generate a massive operating cash flow ($9.1 B in 2021). I expect this to continue to be the case in the foreseeable future.Data by YChartsNVIDIA Profitability Metric (Seeking Alpha)Intrinsic Value EstimationI used DCF model to estimate the intrinsic value of NVIDIA. For the estimation, I utilized current operating cash flow ($9.1 B) and current WACC of 8.0% as the discount rate. For the base case, I assumed operating cash flow growth of 50% (mid point between historic value and most recent growth) for the next 5 years and zero growth afterwards (zero terminal growth). For the bullish and very bullish case, I assumed cash flow growth of 52% and 55%, respectively, for the next 5 years and zero growth afterwards. Given the most recent revenue growth was 61.4%, the growth rate of 52% and 55% are well within reason.The estimation revealed that the current stock price presents 10-20% upside. Current market volatility is providing a rare opportunity to grab NVIDIA shares at a discount, and I think investors should take advantage of the opportunity. Given their superiority and market dominance, the stock price will achieve its intrinsic value or even trade at a premium in the long run.The assumptions and data used for the price target estimation are summarized below:WACC: 8.0%Cash Flow Growth Rate: 50% (Base Case), 52% (Bullish Case), 55% (Very Bullish Case)Current Cash Flow: $9.1 BCurrent Stock Price: $221.98 (04/19/2022)Tax rate: 20%RiskReflecting the popularity of the company and its high growth expectations, the valuation of NVIDIA remains high even after the market-wide sell off. The P/E ratio of NVIDIA (TTM) is at 55.22x, which is almost twice that of the sector median, 26.38x. The high valuation leaves little room for disappointment, and any miss on revenue or profit could result in a substantial drop in stock price. This is especially true during rising interest rates, which typically hits growth stocks the hardest. Therefore, the investor should monitor the macroeconomic indicators.The fields in which NVIDIA competes (GPU, Artificial Intelligence, and computing) are highly competitive, and there is always a chance of a new entrant or existing superpower (e.g., Intel, Google, etc) emerging with new technology that disrupts the market. For example, Apple cut ties with Intel a couple of years ago and started manufacturing their own CPU, which has been performing very well. The investor must keep up with rapid changes within the highly competitive tech landscape.ConclusionNVIDIA has been a superb investment, and a darling of Wall Street, for several years at this point. Given their superb technology and outstanding products, I expect the trend to continue. Also, the ever-increasing demand for computing power will accelerate NVIDIA's revenue growth for the foreseeable future. High valuation and the possibility of new technology may challenge NVIDIA, but they hold massive resources which should enable them to handle these threats. Overall, I expect 10-20% return in the long run.","news_type":1},"isVote":1,"tweetType":1,"viewCount":693,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039739730,"gmtCreate":1646118501202,"gmtModify":1676534093233,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039739730","repostId":"1140639018","repostType":2,"repost":{"id":"1140639018","kind":"news","pubTimestamp":1646113621,"share":"https://ttm.financial/m/news/1140639018?lang=&edition=fundamental","pubTime":"2022-03-01 13:47","market":"us","language":"en","title":"Sea Limited: Buy, Sell Or Hold?","url":"https://stock-news.laohu8.com/highlight/detail?id=1140639018","media":"seekingalpha","summary":"SummarySea Limited is a technology conglomerate consisting of digital entertainment, e-commerce, and","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Sea Limited is a technology conglomerate consisting of digital entertainment, e-commerce, and digital financial services.</li><li>The company is still not profitable, but can report extremely impressive growth rates in the last few quarters.</li><li>And although Sea Limited will face headwinds and competition, analysts are still expecting high growth rates for the years to come.</li></ul><p>What we witnessed in the last few years could be described as a kind of &#34;tech massacre&#34; - we have several stocks (especially technology companies) declining more than 50% and while the major indices in the United States are still close to all-time highs. Therefore, it would be wrong to talk about a major bear market or stock market crash, but it would also be wrong to ignore, that several technology stocks (in different countries around the world) declined rather steep.</p><p>One of those stocks was Sea Limited (SE). Together with many other technology stocks, Sea Limited could increase the stock price in an impressive way and from January 01, 2020, till the peak in late 2021, the stock price increased more than 800%; however, in the recent past we saw a similar steep decline with Sea Limited declining about 65% in just a few weeks.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/effe101a2592d47983328c50a2f51497\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>And after such a steep decline, the question arises quite naturally, if we are dealing with a bargain. Without any doubt, a stock losing 65% of its previous value might seem cheap. But increasing more than 800% in less than two years is impressive and might indicate overvaluation. We probably won&#39;t answer the question by just looking at the stock price but must go deeper and look at the fundamental business.</p><p><b>Business Description</b></p><p>Sea Limited is a technology conglomerate consisting of digital entertainment, e-commerce, and digital financial services. The company, which was founded in 2009, was formerly known as Garena Interactive Holding Limited and changed its name to Sea Limited in April 2017. Today, the business has 33,000 employees and is the holding company for three major businesses:</p><ul><li><b>Garena</b>: A digital entertainment platform and one of the leaders in games development (games are including the famous and success Garena Free Fire) and probably the leader in esports in Southeast Asia, Taiwan, and Brazil (according to Annual Report). In Q3/21, the business had 729 million quarterly active users and 93.2 million quarterly paying users.</li><li><b>Shopee</b>: An ecommerce platform connecting buyers and sellers and the largest in Southeast Asia and Taiwan, which offers integrated payment and logistics infrastructure and other services for sellers. It was the largest e-commerce platform in Southeast Asia in 2020 by GMV and total orders and in Q3/21, gross merchandise value was $16.8 billion and gross orders were 1.7 billion in total.</li><li><b>SeaMoney</b>: The financial services and payment segment, which is the leading financial services and payment provider in Southeast Asia. It offers mobile wallet and payments services like AirPay, ShopeePay or SPayLater. In Q3/21, the total payment volume for mobile wallet was $4.6 billion.</li></ul><p>In fiscal 2020, Sea Limited generated $4,376 million in revenue and compared to $2,175 million in revenue in the previous year, this is an increase of 101.1%. And while the company could increase its gross profit from $605 million in 2019 to $1,349 million in 2020, it still had to report an operating loss in 2020 ($1,303 million and therefore an even higher loss than in 2019). However, adjusted EBITDA was $107 million in 2020 compared to a loss of $179 million in the year before.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/69bb400205973c8ac991cd0418cfa22e\" tg-width=\"640\" tg-height=\"1013\" width=\"100%\" height=\"auto\"/><span>Sea Limited Q3/21 Infographic</span></p><p>In the third quarter of fiscal 2021, Sea Limited generated $2,689 million in revenue and compared to $1,212 million in revenue in the same quarter last year, this is an increase of 122%. But while gross profit could increase 147.5% to $1,009 million, the company still is reporting an operating loss.</p><p>The business is reporting in two segments and three sub-segments: &#34;Service revenue&#34; (consisting of &#34;digital entertainment&#34; as well as &#34;E-commerce and other services&#34;) and &#34;Sales of Goods&#34;:</p><ul><li><b>Digital Entertainment</b>: This segment is offering mobile and PC online games and is generating revenue primarily by selling in-game items to players of the freemium games. It is also generating revenue from offering eSports operations and other entertainment content. In Q3/21, this segment generated $1,099 million in quarterly revenue (41% of total revenue).</li><li><b>E-commerce and other services</b>: This segment is mostly generating revenue from e-commerce marketplace services and digital financial services. The business is offering sellers paid advertisement services and is charging transaction-based fees. Additionally, Sea Limited is generating revenue from interest and fees from loans granted to commercial and consumer customers. In Q3/21, this segment generated $1,310 million in quarterly revenue (49% of total revenue).</li><li><b>Sales of Goods</b>: Sea Limited is generating revenue as the company is also purchasing products from manufacturer or third parties and is selling it directly on its own Shopee platform. In Q3/21, this segment generated $280 million in revenue (10% of total revenue).</li></ul><p>When looking at digital entertainment, quarterly active users increased from 572.4 million in Q3/20 to 729.0 million in Q3/21 (resulting in 27% YoY growth). Quarterly paying users increased even 43% YoY from 65.3 million in Q3/20 to 93.2 million in Q3/21.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/db774740c4f143c0ade000bc242cc4d2\" tg-width=\"640\" tg-height=\"361\" width=\"100%\" height=\"auto\"/><span>Sea Limited Q3/21 Presentation</span></p><p>When looking at e-commerce, we see much higher growth rates. Total number of gross orders increased from 0.7 billion in Q3/20 to 1.7 billion in Q3/21, which is resulting in 123% year-over-year growth. And gross merchandise volume increased from $9.3 billion in Q3/20 to $16.8 billion in Q3/21 resulting in 81% YoY growth.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/90b2945a1a34073d6712a4facc20b9a4\" tg-width=\"640\" tg-height=\"359\" width=\"100%\" height=\"auto\"/><span>Sea Limited Q3/21 Presentation</span></p><p><b>Headwinds</b></p><p>Despite these impressive growth rates Sea Limited is reporting, the stock nevertheless fell 60% in a very short timeframe, and we can assume that the business is facing some headwinds. And a few weeks ago, it was announced that Tencent Holdings Limited (OTCPK:TCEHY) is selling its stake in Sea Limited, which caused the stock of Sea Limited to tumble about 10%. We therefore can assume, that Tencent selling its stake is a bad sign for the long-term prospects of Sea Limited, but we must put this into context. First,Tencent sold only about $3 billion worth of shares and trimmed its stake from 21.3% to 18.7%. Second, Tencent is also selling other stakes it has: The company also announced it will distribute its shares ofJD.com(JD) as special dividend to its shareholders. And therefore, we should not be worried. Tencent is probably trying to be less like a monopoly, that has controlling stakes in many different businesses to avoid getting in the crosshairs of the Chinese government in the future.</p><p>And while the news, that Tencent was selling shares made the stock slip more than 10%, the news a few weeks ago, that India&#39;s government had issued a ban of 54 apps, which it links to China - including Garena Free Fire - sent the shares of Sea Limited even 20% down in a single day. India has already banned several apps in June 2020 - including TikTok and WeChat. But we also must put these numbers into context. According to different sources , Free Fire sales in India are only responsible for 3% of Sea&#39;s gaming revenue and only for 1.2% of total sales. In the 2020 Annual Report (20-F file), I could only find the information, that &#34;Rest of Asia&#34; - which is including India - was responsible for 15.0% of total revenue in fiscal 2020. Losing India as market will probably hurt Sea Limited, but in this early phase it should not create a serious, long-term problem.</p><p><b>Profitability and Competition</b></p><p>The two above mentioned headwinds are probably rather short-term. A bigger problem could be the fact, that Sea Limited is still not profitable. When looking at the last ten quarters, Sea Limited wasn&#39;t profitable in any of them, and operating losses increased - at least in absolute numbers. In relative numbers, the operating loss in the last quarter was only 17% of revenue compared to 68% of revenue in Q1/19. And while R&amp;D expenses are stable at around 8%, especially selling, general &amp; administrative expenses decreased.</p><p><img src=\"https://static.tigerbbs.com/46a85e0448b35bbefc81e143554694b8\" tg-width=\"640\" tg-height=\"281\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>And when considering increasing competition, Sea Limited not being profitable could become a problem. Especially when your competitors are called Alibaba (BABA) and Amazon (AMZN), this is no cause for joy. In December 2021, Amazonannounced, that it is planning to expand Amazon Prime Video to Southeast Asia and Amazon is already active in Southeast Asia - despite itslate arrivalin 2017. But not only the U.S. retail and technology giant is a serious competitor - the Chinese retail and technology giant Alibaba is also a serious competitor. During its Investor Day in December 2021, Alibaba announced its plans to drive expansion in Southeast Asia and Lazada, which is owned by Alibaba, aims to achieve much higher sales in the region. Alibaba&#39;s vision is to serve more than 300 million customers and achieve $100 billion in gross merchandise volume in a market that is expected to increase to $260 billion in 2025.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/93615c3cb2728beaebe18c1813a932d7\" tg-width=\"640\" tg-height=\"297\" width=\"100%\" height=\"auto\"/><span>Alibaba Investor Day 2021 Presentation</span></p><p>While I don&#39;t know how serious Amazon must be taken as a competitor - Lazada (and therefore Alibaba) should not be ignored.</p><p><b>Balance Sheet</b></p><p>Amazon and Alibaba are certainly two competitors, Sea Limited must take seriously. But in this context, it is worth mentioning, that Sea Limited has a great balance sheet, which is a valuable asset.</p><p>As of September 30, 2021, Sea Limited has no debt on its balance sheet, which is great for a company that is not yet profitable. On the asset side, Sea Limited has $477 million in goodwill (only 2.5% of $18,549 million in total assets) and $706 million in short-term investments as well as $11,126 million in cash and cash equivalents. This is resulting in almost $12 billion of very liquid assets, that Sea Limited can use to drive growth and expand its business. At the time of writing, these liquid assets are about one sixth of the company&#39;s market capitalization.</p><p>And Sea Limited already managed to generate a positive free cash flow in the last few quarters - therefore we also must not be afraid of Sea Limited burning cash and decreasing the short-term investments and cash reserves on the balance sheet.</p><p><b>Growth</b></p><p>But while Sea Limited is still not profitable and might be facing increased competition, the company is also reporting extremely impressive growth rates. When looking at the last ten quarters, there is only a single quarter in which Sea Limited could not grow in the triple-digits. And gross profit is growing at even higher rates than revenue.</p><p><img src=\"https://static.tigerbbs.com/221525dd315705d008debaa5e6ce8cd5\" tg-width=\"640\" tg-height=\"154\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Analysts are expecting growth rates to slow down in the years to come. Analysts are also not really providing estimates for earnings per share as this number is difficult to estimate. But analysts are providing estimates for revenue, and we can see growth slowing down (not anywhere near to the triple-digit growth rates of the last few quarters). On the other hand, growth rates between 10% and 20% for revenue are still extremely impressive.</p><p><img src=\"https://static.tigerbbs.com/60acae4293bf3942c4e6cc3a1c1b21c5\" tg-width=\"640\" tg-height=\"357\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>When asking the question where growth could stem from, the Southeast Asia e-commerce market is expected to grow with a high pace. According to the above-mentioned Alibaba investor presentation, the market is expected to grow with a CAGR of 27% between 2020 and 2025 and this should enable Sea Limited to grow with the market at a high pace (even without taking market shares).</p><p>And Sea Limited is generating about two thirds of its revenue in Southeast Asia (fiscal 2020 numbers), but the company is also expanding to other markets. Especially revenue from Latin America is increasing with a high pace. While in 2018, only 1.8% of revenue stemmed from Latin America, in 2020 it was already 18.1% of total revenue. And according to Statista, retail e-commerce sales are also expected to increase with a high pace - from $85 billion in 2021 to $160 billion in 2025 resulting in a CAGR of 17%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ccd6e627c089bd4304ecb325a571c93a\" tg-width=\"640\" tg-height=\"182\" width=\"100%\" height=\"auto\"/><span>Sea Limited Annual Report 2020</span></p><p>Sea Limited is also writing in its annual report about the growth potential:</p><blockquote>Our seven markets in Southeast Asia and Taiwan were estimated to have 608.1 million people and a GDP of US$3.6 trillion in 2020 according to the IMF World Economic Outlook Database. Southeast Asia and Taiwan region is also one of the world&#39;s fastest growing regions based on per capita GDP and, moreover, at the early stages of internet penetration. In addition, the Latin America region (including the Caribbean) was estimated to have 637.1 million people and a GDP of US$4.2 trillion in 2020 according to the IMF World Economic Outlook Database. Many of our global markets are experiencing a generational transition to the new digital economy, with digital inclusion bringing consumers ever more closely to each other and online services, by leading internet business models such as our own. Our culturally rich and diverse markets observe a rise in traditionally underserved digital consumers, who require dedicated focus, resources, and respective local market knowledge.</blockquote><p>Without much doubt, high growth rates can be achieved in Southeast Asia as well as Latin America. And aspects like gaming and e-commerce could take off in the years to come and Sea Limited is set up to profit from this growing market. However, many different scenarios are possible. In theory, Sea Limited can increase its revenue substantially for years to come as it can still grow in its core markets, which are expected to grow with a high pace and Sea Limited can also expand to other countries and markets. But if the company is successful against competitors is a different story and hard to predict.</p><p><b>Intrinsic Value Calculation</b></p><p>In a final step, as always, we must look at the stock price and compare it to the fundamental business to determine if we are talking about a solid investment or not. In case of Sea Limited, we can&#39;t look at the P/E ratio as the company is not profitable yet. Instead, we can look at the price-to-free-cash-flow ratio, but the numbers are not useful at this point (260 times free cash flow right now). The only useful simple valuation metric is the price-sales ratio.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6ee0c00f5fa2822e47170487befb92d3\" tg-width=\"635\" tg-height=\"467\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>Sea Limited is trading for 9.33 times sales right now after it had already been trading for 30 times sales about one year ago. When comparing to some peers, we see Alibaba trading only for 2.77 times sales and Amazon trading for 3.43 times sales. And from that point of view, Sea Limited seems to be expensive. But we must point out, that Sea Limited is probably able to grow with a much higher pace for several years to come and especially due to its gaming segment, Sea Limited should be able to achieve higher margins justifying a higher P/S ratio. We can rather compare the business to Tencent (also generating a huge part of its sales from gaming and fintech), which is trading for 7.01 times sales and therefore in a similar range as Sea Limited.</p><p>Usually, I am trying to calculate an intrinsic value by using a discount cash flow calculation, but this is extremely difficult as we have so many variables affecting the calculation and stability as well as consistency are still missing. For example, the number of outstanding shares is still increasing. And although this is not untypical for younger companies, it is not what shareholders like to see and it is making it difficult to calculate an intrinsic value by using DCF analysis.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a1524f6ae7e7435b02326948f99bfafc\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>It is also difficult to estimate growth rates in the years to come: While it seems obvious that growth will slow down, we don&#39;t know how fast. And finally, we must estimate when Sea Limited will get profitable, what margins the company can achieve and how much free cash flow it can generate. Summing up, I don&#39;t want to put a price tag on Sea Limited right now as I don&#39;t think I can provide a useful intrinsic value calculation for the stock at this point. However, if Sea Limited should be able to grow with a high pace (and we don&#39;t have to see triple digit or high double-digit growth) and become profitable to a similar level as Tencent, the business could be undervalued right now.</p><p><b>Conclusion</b></p><p>I usually try to avoid investing in unprofitable businesses as a huge range of outcomes is possible for these rather young companies. And investing is always a bet to some degree as we can never be certain. I am not saying that Sea Limited could not be an incredible investment, but it is extremely difficult for me to put a price tag on the stock. And extreme fluctuations will continue as investors could have extremely different opinions what the stock should be worth.</p><p>I would rate Sea Limited as a hold right now as it is difficult to make a case for Sea Limited being undervalued or overvalued. On March 01, 2022, Sea Limited will report the next quarterly results, and this might give us some hints again how to valuate Sea Limited.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited: Buy, Sell Or Hold?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSea Limited: Buy, Sell Or Hold?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-01 13:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4491285-sea-limited-stock-buy-sell-hold><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummarySea Limited is a technology conglomerate consisting of digital entertainment, e-commerce, and digital financial services.The company is still not profitable, but can report extremely impressive...</p>\n\n<a href=\"https://seekingalpha.com/article/4491285-sea-limited-stock-buy-sell-hold\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4491285-sea-limited-stock-buy-sell-hold","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1140639018","content_text":"SummarySea Limited is a technology conglomerate consisting of digital entertainment, e-commerce, and digital financial services.The company is still not profitable, but can report extremely impressive growth rates in the last few quarters.And although Sea Limited will face headwinds and competition, analysts are still expecting high growth rates for the years to come.What we witnessed in the last few years could be described as a kind of \"tech massacre\" - we have several stocks (especially technology companies) declining more than 50% and while the major indices in the United States are still close to all-time highs. Therefore, it would be wrong to talk about a major bear market or stock market crash, but it would also be wrong to ignore, that several technology stocks (in different countries around the world) declined rather steep.One of those stocks was Sea Limited (SE). Together with many other technology stocks, Sea Limited could increase the stock price in an impressive way and from January 01, 2020, till the peak in late 2021, the stock price increased more than 800%; however, in the recent past we saw a similar steep decline with Sea Limited declining about 65% in just a few weeks.Data by YChartsAnd after such a steep decline, the question arises quite naturally, if we are dealing with a bargain. Without any doubt, a stock losing 65% of its previous value might seem cheap. But increasing more than 800% in less than two years is impressive and might indicate overvaluation. We probably won't answer the question by just looking at the stock price but must go deeper and look at the fundamental business.Business DescriptionSea Limited is a technology conglomerate consisting of digital entertainment, e-commerce, and digital financial services. The company, which was founded in 2009, was formerly known as Garena Interactive Holding Limited and changed its name to Sea Limited in April 2017. Today, the business has 33,000 employees and is the holding company for three major businesses:Garena: A digital entertainment platform and one of the leaders in games development (games are including the famous and success Garena Free Fire) and probably the leader in esports in Southeast Asia, Taiwan, and Brazil (according to Annual Report). In Q3/21, the business had 729 million quarterly active users and 93.2 million quarterly paying users.Shopee: An ecommerce platform connecting buyers and sellers and the largest in Southeast Asia and Taiwan, which offers integrated payment and logistics infrastructure and other services for sellers. It was the largest e-commerce platform in Southeast Asia in 2020 by GMV and total orders and in Q3/21, gross merchandise value was $16.8 billion and gross orders were 1.7 billion in total.SeaMoney: The financial services and payment segment, which is the leading financial services and payment provider in Southeast Asia. It offers mobile wallet and payments services like AirPay, ShopeePay or SPayLater. In Q3/21, the total payment volume for mobile wallet was $4.6 billion.In fiscal 2020, Sea Limited generated $4,376 million in revenue and compared to $2,175 million in revenue in the previous year, this is an increase of 101.1%. And while the company could increase its gross profit from $605 million in 2019 to $1,349 million in 2020, it still had to report an operating loss in 2020 ($1,303 million and therefore an even higher loss than in 2019). However, adjusted EBITDA was $107 million in 2020 compared to a loss of $179 million in the year before.Sea Limited Q3/21 InfographicIn the third quarter of fiscal 2021, Sea Limited generated $2,689 million in revenue and compared to $1,212 million in revenue in the same quarter last year, this is an increase of 122%. But while gross profit could increase 147.5% to $1,009 million, the company still is reporting an operating loss.The business is reporting in two segments and three sub-segments: \"Service revenue\" (consisting of \"digital entertainment\" as well as \"E-commerce and other services\") and \"Sales of Goods\":Digital Entertainment: This segment is offering mobile and PC online games and is generating revenue primarily by selling in-game items to players of the freemium games. It is also generating revenue from offering eSports operations and other entertainment content. In Q3/21, this segment generated $1,099 million in quarterly revenue (41% of total revenue).E-commerce and other services: This segment is mostly generating revenue from e-commerce marketplace services and digital financial services. The business is offering sellers paid advertisement services and is charging transaction-based fees. Additionally, Sea Limited is generating revenue from interest and fees from loans granted to commercial and consumer customers. In Q3/21, this segment generated $1,310 million in quarterly revenue (49% of total revenue).Sales of Goods: Sea Limited is generating revenue as the company is also purchasing products from manufacturer or third parties and is selling it directly on its own Shopee platform. In Q3/21, this segment generated $280 million in revenue (10% of total revenue).When looking at digital entertainment, quarterly active users increased from 572.4 million in Q3/20 to 729.0 million in Q3/21 (resulting in 27% YoY growth). Quarterly paying users increased even 43% YoY from 65.3 million in Q3/20 to 93.2 million in Q3/21.Sea Limited Q3/21 PresentationWhen looking at e-commerce, we see much higher growth rates. Total number of gross orders increased from 0.7 billion in Q3/20 to 1.7 billion in Q3/21, which is resulting in 123% year-over-year growth. And gross merchandise volume increased from $9.3 billion in Q3/20 to $16.8 billion in Q3/21 resulting in 81% YoY growth.Sea Limited Q3/21 PresentationHeadwindsDespite these impressive growth rates Sea Limited is reporting, the stock nevertheless fell 60% in a very short timeframe, and we can assume that the business is facing some headwinds. And a few weeks ago, it was announced that Tencent Holdings Limited (OTCPK:TCEHY) is selling its stake in Sea Limited, which caused the stock of Sea Limited to tumble about 10%. We therefore can assume, that Tencent selling its stake is a bad sign for the long-term prospects of Sea Limited, but we must put this into context. First,Tencent sold only about $3 billion worth of shares and trimmed its stake from 21.3% to 18.7%. Second, Tencent is also selling other stakes it has: The company also announced it will distribute its shares ofJD.com(JD) as special dividend to its shareholders. And therefore, we should not be worried. Tencent is probably trying to be less like a monopoly, that has controlling stakes in many different businesses to avoid getting in the crosshairs of the Chinese government in the future.And while the news, that Tencent was selling shares made the stock slip more than 10%, the news a few weeks ago, that India's government had issued a ban of 54 apps, which it links to China - including Garena Free Fire - sent the shares of Sea Limited even 20% down in a single day. India has already banned several apps in June 2020 - including TikTok and WeChat. But we also must put these numbers into context. According to different sources , Free Fire sales in India are only responsible for 3% of Sea's gaming revenue and only for 1.2% of total sales. In the 2020 Annual Report (20-F file), I could only find the information, that \"Rest of Asia\" - which is including India - was responsible for 15.0% of total revenue in fiscal 2020. Losing India as market will probably hurt Sea Limited, but in this early phase it should not create a serious, long-term problem.Profitability and CompetitionThe two above mentioned headwinds are probably rather short-term. A bigger problem could be the fact, that Sea Limited is still not profitable. When looking at the last ten quarters, Sea Limited wasn't profitable in any of them, and operating losses increased - at least in absolute numbers. In relative numbers, the operating loss in the last quarter was only 17% of revenue compared to 68% of revenue in Q1/19. And while R&D expenses are stable at around 8%, especially selling, general & administrative expenses decreased.And when considering increasing competition, Sea Limited not being profitable could become a problem. Especially when your competitors are called Alibaba (BABA) and Amazon (AMZN), this is no cause for joy. In December 2021, Amazonannounced, that it is planning to expand Amazon Prime Video to Southeast Asia and Amazon is already active in Southeast Asia - despite itslate arrivalin 2017. But not only the U.S. retail and technology giant is a serious competitor - the Chinese retail and technology giant Alibaba is also a serious competitor. During its Investor Day in December 2021, Alibaba announced its plans to drive expansion in Southeast Asia and Lazada, which is owned by Alibaba, aims to achieve much higher sales in the region. Alibaba's vision is to serve more than 300 million customers and achieve $100 billion in gross merchandise volume in a market that is expected to increase to $260 billion in 2025.Alibaba Investor Day 2021 PresentationWhile I don't know how serious Amazon must be taken as a competitor - Lazada (and therefore Alibaba) should not be ignored.Balance SheetAmazon and Alibaba are certainly two competitors, Sea Limited must take seriously. But in this context, it is worth mentioning, that Sea Limited has a great balance sheet, which is a valuable asset.As of September 30, 2021, Sea Limited has no debt on its balance sheet, which is great for a company that is not yet profitable. On the asset side, Sea Limited has $477 million in goodwill (only 2.5% of $18,549 million in total assets) and $706 million in short-term investments as well as $11,126 million in cash and cash equivalents. This is resulting in almost $12 billion of very liquid assets, that Sea Limited can use to drive growth and expand its business. At the time of writing, these liquid assets are about one sixth of the company's market capitalization.And Sea Limited already managed to generate a positive free cash flow in the last few quarters - therefore we also must not be afraid of Sea Limited burning cash and decreasing the short-term investments and cash reserves on the balance sheet.GrowthBut while Sea Limited is still not profitable and might be facing increased competition, the company is also reporting extremely impressive growth rates. When looking at the last ten quarters, there is only a single quarter in which Sea Limited could not grow in the triple-digits. And gross profit is growing at even higher rates than revenue.Analysts are expecting growth rates to slow down in the years to come. Analysts are also not really providing estimates for earnings per share as this number is difficult to estimate. But analysts are providing estimates for revenue, and we can see growth slowing down (not anywhere near to the triple-digit growth rates of the last few quarters). On the other hand, growth rates between 10% and 20% for revenue are still extremely impressive.When asking the question where growth could stem from, the Southeast Asia e-commerce market is expected to grow with a high pace. According to the above-mentioned Alibaba investor presentation, the market is expected to grow with a CAGR of 27% between 2020 and 2025 and this should enable Sea Limited to grow with the market at a high pace (even without taking market shares).And Sea Limited is generating about two thirds of its revenue in Southeast Asia (fiscal 2020 numbers), but the company is also expanding to other markets. Especially revenue from Latin America is increasing with a high pace. While in 2018, only 1.8% of revenue stemmed from Latin America, in 2020 it was already 18.1% of total revenue. And according to Statista, retail e-commerce sales are also expected to increase with a high pace - from $85 billion in 2021 to $160 billion in 2025 resulting in a CAGR of 17%.Sea Limited Annual Report 2020Sea Limited is also writing in its annual report about the growth potential:Our seven markets in Southeast Asia and Taiwan were estimated to have 608.1 million people and a GDP of US$3.6 trillion in 2020 according to the IMF World Economic Outlook Database. Southeast Asia and Taiwan region is also one of the world's fastest growing regions based on per capita GDP and, moreover, at the early stages of internet penetration. In addition, the Latin America region (including the Caribbean) was estimated to have 637.1 million people and a GDP of US$4.2 trillion in 2020 according to the IMF World Economic Outlook Database. Many of our global markets are experiencing a generational transition to the new digital economy, with digital inclusion bringing consumers ever more closely to each other and online services, by leading internet business models such as our own. Our culturally rich and diverse markets observe a rise in traditionally underserved digital consumers, who require dedicated focus, resources, and respective local market knowledge.Without much doubt, high growth rates can be achieved in Southeast Asia as well as Latin America. And aspects like gaming and e-commerce could take off in the years to come and Sea Limited is set up to profit from this growing market. However, many different scenarios are possible. In theory, Sea Limited can increase its revenue substantially for years to come as it can still grow in its core markets, which are expected to grow with a high pace and Sea Limited can also expand to other countries and markets. But if the company is successful against competitors is a different story and hard to predict.Intrinsic Value CalculationIn a final step, as always, we must look at the stock price and compare it to the fundamental business to determine if we are talking about a solid investment or not. In case of Sea Limited, we can't look at the P/E ratio as the company is not profitable yet. Instead, we can look at the price-to-free-cash-flow ratio, but the numbers are not useful at this point (260 times free cash flow right now). The only useful simple valuation metric is the price-sales ratio.Data by YChartsSea Limited is trading for 9.33 times sales right now after it had already been trading for 30 times sales about one year ago. When comparing to some peers, we see Alibaba trading only for 2.77 times sales and Amazon trading for 3.43 times sales. And from that point of view, Sea Limited seems to be expensive. But we must point out, that Sea Limited is probably able to grow with a much higher pace for several years to come and especially due to its gaming segment, Sea Limited should be able to achieve higher margins justifying a higher P/S ratio. We can rather compare the business to Tencent (also generating a huge part of its sales from gaming and fintech), which is trading for 7.01 times sales and therefore in a similar range as Sea Limited.Usually, I am trying to calculate an intrinsic value by using a discount cash flow calculation, but this is extremely difficult as we have so many variables affecting the calculation and stability as well as consistency are still missing. For example, the number of outstanding shares is still increasing. And although this is not untypical for younger companies, it is not what shareholders like to see and it is making it difficult to calculate an intrinsic value by using DCF analysis.Data by YChartsIt is also difficult to estimate growth rates in the years to come: While it seems obvious that growth will slow down, we don't know how fast. And finally, we must estimate when Sea Limited will get profitable, what margins the company can achieve and how much free cash flow it can generate. Summing up, I don't want to put a price tag on Sea Limited right now as I don't think I can provide a useful intrinsic value calculation for the stock at this point. However, if Sea Limited should be able to grow with a high pace (and we don't have to see triple digit or high double-digit growth) and become profitable to a similar level as Tencent, the business could be undervalued right now.ConclusionI usually try to avoid investing in unprofitable businesses as a huge range of outcomes is possible for these rather young companies. And investing is always a bet to some degree as we can never be certain. I am not saying that Sea Limited could not be an incredible investment, but it is extremely difficult for me to put a price tag on the stock. And extreme fluctuations will continue as investors could have extremely different opinions what the stock should be worth.I would rate Sea Limited as a hold right now as it is difficult to make a case for Sea Limited being undervalued or overvalued. On March 01, 2022, Sea Limited will report the next quarterly results, and this might give us some hints again how to valuate Sea Limited.","news_type":1},"isVote":1,"tweetType":1,"viewCount":218,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039449733,"gmtCreate":1646106981246,"gmtModify":1676534092066,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039449733","repostId":"1106936697","repostType":2,"repost":{"id":"1106936697","kind":"news","pubTimestamp":1646104713,"share":"https://ttm.financial/m/news/1106936697?lang=&edition=fundamental","pubTime":"2022-03-01 11:18","market":"us","language":"en","title":"Tesla Is Still Fundamentally Overvalued","url":"https://stock-news.laohu8.com/highlight/detail?id=1106936697","media":"investorplace","summary":"Tesla (NASDAQ:TSLA) stock has lost about one-third of its value since hitting an all-time high of $1,222/share at the start of November.Tesla stock opened on Feb. 28 at $815. That’s still a market cap","content":"<html><head></head><body><p>Tesla (NASDAQ:TSLA) stock has lost about one-third of its value since hitting an all-time high of $1,222/share at the start of November.</p><p>Tesla stock opened on Feb. 28 at $815. That’s still a market capitalization of over $890 billion on 2021 revenues of $53.8 billion. Tesla brought 10% of that revenue to the net income line, but the price to earnings (P/E) ratio is still 177, and the price to sales (P/S) ratio 17.</p><p>Tesla stock has always risen against a tide of bearishness, an assumption that CEO Elon Musk could not do what he was in fact doing. But fewer than 3% of shares are now being held short. Analysts are bullish, with 16 of 29 at Tipranks saying buy it.</p><p>That’s probably why I wouldn’t touch it right now.</p><h2>Tesla Still Just Makes Cars</h2><p>CEO Elon Musk has always called Tesla a technology company, but it is still a manufacturer. Manufacturers need supply chains. Supply chains around the world are being disrupted. War and pandemics are inherently disruptive things. Both are generally unhealthy for economies and other living things.</p><p>Ultimately, Tesla isn’t falling because of Musk’s Twitter, a Justice Department probe of shorts or relations with the Biden administration.</p><p>It’s falling on fundamentals. Scaling is difficult. It doesn’t get easier, for cars anyway, after the initial scaling.</p><p>The electric vehicle posse has been after Tesla for years, and they’re closing in. Lucid Group (NASDAQ:LCID) and Rivian (NASDAQ:RIVN) are delivering electric cars that look very Tesla-like. Ford Motor (NYSE:F) has begun doing the same. Volkswagen (OTCMKTS:VWAGY) is ramping up production. Chinese companies are now strong enough to get by on reduced government help.</p><p>To justify its current price, Tesla needs to become bigger than General Motors (NYSE:GM) or Ford within just a few years. Opening its German plant will help. But you’re still assuming last year’s growth of 83% in car deliveries can be replicated. You’re still assuming Tesla can produce, and sell, hundreds of thousands of its butt-ugly Cybertrucks in Texas against Ford, GM, and Toyota (NYSE:TM).</p><h2>Stock Market Exuberance</h2><p>Tesla stock has been falling even while pension funds like Canada’s have been piling in. The assumption is that Tesla is Apple (NASDAQ:AAPL), that its software, electricity, insurance and services will multiply the value of each Tesla sale. But almost 90% of Tesla revenue still comes from cars. Tesla is not a solar panel company either. Battery storage revenues fell 38% in 2021.</p><p>That’s not to say Tesla hasn’t performed well. It has.</p><p>But its stock price assumes it can keep growing near its present rate, even as electric car production elsewhere ramps up.</p><p>We saw this last year with cloud stocks. There’s a limit to what people will pay for growth. Tesla seems to have gone through that limit, at ludicrous speed.</p><p>Meanwhile the Musks have taken their eyes off the ball. Buying Bitcoin while pretending to be unaware of its environmental damage is just stupid. Going into the video game industry is also stupid.</p><h2>The Bottom Line on TSLA Stock</h2><p>There are limits to what investors should pay for growth.</p><p>I think Tesla has exceeded those limits.</p><p>This doesn’t mean Tesla is a bad company. I think it can easily grow its top line by 50% this year, profitably. But then that growth is going to slow. Big numbers are harder to shift. The diversity of income Tesla once promised isn’t happening. It’s still a car company, and Elon Musk is growing bored with it.</p><p>If you assume TSLA stock is worth 10 times current revenue, or that its profit can double and it’s worth 30 times that, you’re still looking at a big drop in its stock price. I think there are better growth opportunities out there, in clouds, in software, in things that scale more easily than cars.</p></body></html>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Is Still Fundamentally 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\">\nTesla Is Still Fundamentally Overvalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-01 11:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/02/tsla-stock-still-fundamentally-overvalued/><strong>investorplace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla (NASDAQ:TSLA) stock has lost about one-third of its value since hitting an all-time high of $1,222/share at the start of November.Tesla stock opened on Feb. 28 at $815. That’s still a market ...</p>\n\n<a href=\"https://investorplace.com/2022/02/tsla-stock-still-fundamentally-overvalued/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://investorplace.com/2022/02/tsla-stock-still-fundamentally-overvalued/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106936697","content_text":"Tesla (NASDAQ:TSLA) stock has lost about one-third of its value since hitting an all-time high of $1,222/share at the start of November.Tesla stock opened on Feb. 28 at $815. That’s still a market capitalization of over $890 billion on 2021 revenues of $53.8 billion. Tesla brought 10% of that revenue to the net income line, but the price to earnings (P/E) ratio is still 177, and the price to sales (P/S) ratio 17.Tesla stock has always risen against a tide of bearishness, an assumption that CEO Elon Musk could not do what he was in fact doing. But fewer than 3% of shares are now being held short. Analysts are bullish, with 16 of 29 at Tipranks saying buy it.That’s probably why I wouldn’t touch it right now.Tesla Still Just Makes CarsCEO Elon Musk has always called Tesla a technology company, but it is still a manufacturer. Manufacturers need supply chains. Supply chains around the world are being disrupted. War and pandemics are inherently disruptive things. Both are generally unhealthy for economies and other living things.Ultimately, Tesla isn’t falling because of Musk’s Twitter, a Justice Department probe of shorts or relations with the Biden administration.It’s falling on fundamentals. Scaling is difficult. It doesn’t get easier, for cars anyway, after the initial scaling.The electric vehicle posse has been after Tesla for years, and they’re closing in. Lucid Group (NASDAQ:LCID) and Rivian (NASDAQ:RIVN) are delivering electric cars that look very Tesla-like. Ford Motor (NYSE:F) has begun doing the same. Volkswagen (OTCMKTS:VWAGY) is ramping up production. Chinese companies are now strong enough to get by on reduced government help.To justify its current price, Tesla needs to become bigger than General Motors (NYSE:GM) or Ford within just a few years. Opening its German plant will help. But you’re still assuming last year’s growth of 83% in car deliveries can be replicated. You’re still assuming Tesla can produce, and sell, hundreds of thousands of its butt-ugly Cybertrucks in Texas against Ford, GM, and Toyota (NYSE:TM).Stock Market ExuberanceTesla stock has been falling even while pension funds like Canada’s have been piling in. The assumption is that Tesla is Apple (NASDAQ:AAPL), that its software, electricity, insurance and services will multiply the value of each Tesla sale. But almost 90% of Tesla revenue still comes from cars. Tesla is not a solar panel company either. Battery storage revenues fell 38% in 2021.That’s not to say Tesla hasn’t performed well. It has.But its stock price assumes it can keep growing near its present rate, even as electric car production elsewhere ramps up.We saw this last year with cloud stocks. There’s a limit to what people will pay for growth. Tesla seems to have gone through that limit, at ludicrous speed.Meanwhile the Musks have taken their eyes off the ball. Buying Bitcoin while pretending to be unaware of its environmental damage is just stupid. Going into the video game industry is also stupid.The Bottom Line on TSLA StockThere are limits to what investors should pay for growth.I think Tesla has exceeded those limits.This doesn’t mean Tesla is a bad company. I think it can easily grow its top line by 50% this year, profitably. But then that growth is going to slow. Big numbers are harder to shift. The diversity of income Tesla once promised isn’t happening. It’s still a car company, and Elon Musk is growing bored with it.If you assume TSLA stock is worth 10 times current revenue, or that its profit can double and it’s worth 30 times that, you’re still looking at a big drop in its stock price. I think there are better growth opportunities out there, in clouds, in software, in things that scale more easily than cars.","news_type":1},"isVote":1,"tweetType":1,"viewCount":204,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9096731911,"gmtCreate":1644457940015,"gmtModify":1676533929281,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096731911","repostId":"1161779502","repostType":2,"repost":{"id":"1161779502","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1644446424,"share":"https://ttm.financial/m/news/1161779502?lang=&edition=fundamental","pubTime":"2022-02-10 06:40","market":"us","language":"en","title":"Uber Beats on Revenue, Says Core Business Is Bouncing Back after Omicron Surge","url":"https://stock-news.laohu8.com/highlight/detail?id=1161779502","media":"Tiger Newspress","summary":"Uber reported fourth-quarter earnings after-the-bell on Wednesday. The company beat analyst estimate","content":"<html><head></head><body><p>Uber reported fourth-quarter earnings after-the-bell on Wednesday. The company beat analyst estimates on revenue for the quarter and said it’s starting to bounce back from headwinds caused by the omicron coronavirus surge.</p><p>The company’s stock was up more than 6% in after hours trading.</p><p><img src=\"https://static.tigerbbs.com/1785c32207f3088ce50495bbcacb934e\" tg-width=\"841\" tg-height=\"620\" width=\"100%\" height=\"auto\"/></p><p>Here are the key numbers:</p><ul><li><b>Earnings per share:</b> 44 cents, which is not comparable to estimates.</li><li><b>Revenue:</b>$5.78 billion vs $5.34 billion, according to a Refinitiv survey of analysts.</li></ul><p>For the fourth quarter of 2021, Uber reported $5.8 billion in revenue.</p><p>The California-based company reported adjusted EBITDA of $86 million for the quarter ended Dec. 31, significantly ahead of analyst expectations for $62 million.</p><p>That compared with a loss on the same basis of $454 million a year ago. It marked the company&#39;s second profitable quarter since it first reported positive adjusted EBITDA in the third quarter.</p><p>Uber&#39;s delivery unit, largely made up of its Uber Eats restaurant service, posted its first adjusted EBITDA profit of $25 million, showing Uber&#39;s ability to scale the once loss-making operation against strong competition.</p><p>Delivery emerged as one of the company&#39;s main strengths during the pandemic. Steady delivery bookings signal that the rebound in rides has not come at the expense of food delivery, with consumers sticking to the service even as the economy reopens.</p><p>Rides recovery in the fourth quarter was driven by strong demand for airport trips, which tripled compared to last year. Airport rides are among the most profitable routes for Uber.</p><p>Uber also posted net income of $892 million, as it revalued its stakes in Southeast-Asian Grab and self-driving company Aurora Innovation Inc, just a quarter after it reported a $2.42 billion net loss driven by its stake in Chinese ride service Didi and stock-based compensation.</p><p>The company significantly increased its marketing spend in the fourth quarter, upping sales and marketing expenses by 36% on a quarterly basis. Uber launched several large Uber Eats advertising campaigns in the U.S. market at the end of last year.</p><p>The company&#39;s first-quarter outlook fell short of Wall Street expectations as the Omicron coronavirus variant dampens travel, but Uber Chief Executive Dara Khosrowshahi said business had started picking up into February.</p><p>&#34;While the Omicron variant began to impact our business in late December, mobility is already starting to bounce back, with gross bookings up 25% month-on-month in the most recent week,&#34; Khosrowshahi said in a statement.</p><p>Uber forecast lower-than-expected adjusted profit in the first three months of 2022, as the Omicron coronavirus variant dampened travel demand in January. Smaller U.S. rival Lyft Inc issued a similar warning on Tuesday.</p><p>Uber forecast first-quarter adjusted earnings before interest, taxes, depreciation and amortization, a measure that excludes one-time costs, primarily stock-based compensation, to come in between $100 million and $130 million.</p><p>That compares with analysts&#39; estimate of $149.57 million, according to Refinitiv data. At $25 billion to $26 billion, Uber&#39;s projection for gross bookings also came in below estimates of $27.29 billion.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Uber Beats on Revenue, Says Core Business Is Bouncing Back after Omicron Surge</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\">\nUber Beats on Revenue, Says Core Business Is Bouncing Back after Omicron Surge\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-02-10 06:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Uber reported fourth-quarter earnings after-the-bell on Wednesday. The company beat analyst estimates on revenue for the quarter and said it’s starting to bounce back from headwinds caused by the omicron coronavirus surge.</p><p>The company’s stock was up more than 6% in after hours trading.</p><p><img src=\"https://static.tigerbbs.com/1785c32207f3088ce50495bbcacb934e\" tg-width=\"841\" tg-height=\"620\" width=\"100%\" height=\"auto\"/></p><p>Here are the key numbers:</p><ul><li><b>Earnings per share:</b> 44 cents, which is not comparable to estimates.</li><li><b>Revenue:</b>$5.78 billion vs $5.34 billion, according to a Refinitiv survey of analysts.</li></ul><p>For the fourth quarter of 2021, Uber reported $5.8 billion in revenue.</p><p>The California-based company reported adjusted EBITDA of $86 million for the quarter ended Dec. 31, significantly ahead of analyst expectations for $62 million.</p><p>That compared with a loss on the same basis of $454 million a year ago. It marked the company&#39;s second profitable quarter since it first reported positive adjusted EBITDA in the third quarter.</p><p>Uber&#39;s delivery unit, largely made up of its Uber Eats restaurant service, posted its first adjusted EBITDA profit of $25 million, showing Uber&#39;s ability to scale the once loss-making operation against strong competition.</p><p>Delivery emerged as one of the company&#39;s main strengths during the pandemic. Steady delivery bookings signal that the rebound in rides has not come at the expense of food delivery, with consumers sticking to the service even as the economy reopens.</p><p>Rides recovery in the fourth quarter was driven by strong demand for airport trips, which tripled compared to last year. Airport rides are among the most profitable routes for Uber.</p><p>Uber also posted net income of $892 million, as it revalued its stakes in Southeast-Asian Grab and self-driving company Aurora Innovation Inc, just a quarter after it reported a $2.42 billion net loss driven by its stake in Chinese ride service Didi and stock-based compensation.</p><p>The company significantly increased its marketing spend in the fourth quarter, upping sales and marketing expenses by 36% on a quarterly basis. Uber launched several large Uber Eats advertising campaigns in the U.S. market at the end of last year.</p><p>The company&#39;s first-quarter outlook fell short of Wall Street expectations as the Omicron coronavirus variant dampens travel, but Uber Chief Executive Dara Khosrowshahi said business had started picking up into February.</p><p>&#34;While the Omicron variant began to impact our business in late December, mobility is already starting to bounce back, with gross bookings up 25% month-on-month in the most recent week,&#34; Khosrowshahi said in a statement.</p><p>Uber forecast lower-than-expected adjusted profit in the first three months of 2022, as the Omicron coronavirus variant dampened travel demand in January. Smaller U.S. rival Lyft Inc issued a similar warning on Tuesday.</p><p>Uber forecast first-quarter adjusted earnings before interest, taxes, depreciation and amortization, a measure that excludes one-time costs, primarily stock-based compensation, to come in between $100 million and $130 million.</p><p>That compares with analysts&#39; estimate of $149.57 million, according to Refinitiv data. At $25 billion to $26 billion, Uber&#39;s projection for gross bookings also came in below estimates of $27.29 billion.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBER":"优步"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161779502","content_text":"Uber reported fourth-quarter earnings after-the-bell on Wednesday. The company beat analyst estimates on revenue for the quarter and said it’s starting to bounce back from headwinds caused by the omicron coronavirus surge.The company’s stock was up more than 6% in after hours trading.Here are the key numbers:Earnings per share: 44 cents, which is not comparable to estimates.Revenue:$5.78 billion vs $5.34 billion, according to a Refinitiv survey of analysts.For the fourth quarter of 2021, Uber reported $5.8 billion in revenue.The California-based company reported adjusted EBITDA of $86 million for the quarter ended Dec. 31, significantly ahead of analyst expectations for $62 million.That compared with a loss on the same basis of $454 million a year ago. It marked the company's second profitable quarter since it first reported positive adjusted EBITDA in the third quarter.Uber's delivery unit, largely made up of its Uber Eats restaurant service, posted its first adjusted EBITDA profit of $25 million, showing Uber's ability to scale the once loss-making operation against strong competition.Delivery emerged as one of the company's main strengths during the pandemic. Steady delivery bookings signal that the rebound in rides has not come at the expense of food delivery, with consumers sticking to the service even as the economy reopens.Rides recovery in the fourth quarter was driven by strong demand for airport trips, which tripled compared to last year. Airport rides are among the most profitable routes for Uber.Uber also posted net income of $892 million, as it revalued its stakes in Southeast-Asian Grab and self-driving company Aurora Innovation Inc, just a quarter after it reported a $2.42 billion net loss driven by its stake in Chinese ride service Didi and stock-based compensation.The company significantly increased its marketing spend in the fourth quarter, upping sales and marketing expenses by 36% on a quarterly basis. Uber launched several large Uber Eats advertising campaigns in the U.S. market at the end of last year.The company's first-quarter outlook fell short of Wall Street expectations as the Omicron coronavirus variant dampens travel, but Uber Chief Executive Dara Khosrowshahi said business had started picking up into February.\"While the Omicron variant began to impact our business in late December, mobility is already starting to bounce back, with gross bookings up 25% month-on-month in the most recent week,\" Khosrowshahi said in a statement.Uber forecast lower-than-expected adjusted profit in the first three months of 2022, as the Omicron coronavirus variant dampened travel demand in January. Smaller U.S. rival Lyft Inc issued a similar warning on Tuesday.Uber forecast first-quarter adjusted earnings before interest, taxes, depreciation and amortization, a measure that excludes one-time costs, primarily stock-based compensation, to come in between $100 million and $130 million.That compares with analysts' estimate of $149.57 million, according to Refinitiv data. At $25 billion to $26 billion, Uber's projection for gross bookings also came in below estimates of $27.29 billion.","news_type":1},"isVote":1,"tweetType":1,"viewCount":295,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9096240465,"gmtCreate":1644408877863,"gmtModify":1676533922274,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096240465","repostId":"633581048","repostType":1,"repost":{"id":633581048,"gmtCreate":1644221697729,"gmtModify":1676532687016,"author":{"id":"3556134694513016","authorId":"3556134694513016","name":"3Fs","avatar":"https://static.tigerbbs.com/26cf959de8173b4a8aaee5e8568a8eff","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556134694513016","authorIdStr":"3556134694513016"},"themes":[],"title":"Short SEA Ltd (Short Term Target: $120; Mid Term $100)","htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/SE\">$Sea Ltd(SE)$</a> Market is in an unforgiving mode this year after we’ve seen a battered meltdown in many growth technology and e-commerce stocks. While most of these companies are still in positive territory after their strong run-up during Covid, many of them are starting to give up their gains in the past couple of months. The past couple of weeks we have seen a few notable companies with the likes of Netflix, Meta, Paypal and Shopify taking a beat from the market after earnings. With earnings still to come from many of the other companies, we could very much see a repeat of the same. This article is about SEA Ltd and in this article I will explain why am I not a buyer at the moment despite the shares already crashing more than 60% to da","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/SE\">$Sea Ltd(SE)$</a> Market is in an unforgiving mode this year after we’ve seen a battered meltdown in many growth technology and e-commerce stocks. While most of these companies are still in positive territory after their strong run-up during Covid, many of them are starting to give up their gains in the past couple of months. The past couple of weeks we have seen a few notable companies with the likes of Netflix, Meta, Paypal and Shopify taking a beat from the market after earnings. With earnings still to come from many of the other companies, we could very much see a repeat of the same. This article is about SEA Ltd and in this article I will explain why am I not a buyer at the moment despite the shares already crashing more than 60% to da","text":"$Sea Ltd(SE)$ Market is in an unforgiving mode this year after we’ve seen a battered meltdown in many growth technology and e-commerce stocks. While most of these companies are still in positive territory after their strong run-up during Covid, many of them are starting to give up their gains in the past couple of months. The past couple of weeks we have seen a few notable companies with the likes of Netflix, Meta, Paypal and Shopify taking a beat from the market after earnings. With earnings still to come from many of the other companies, we could very much see a repeat of the same. This article is about SEA Ltd and in this article I will explain why am I not a buyer at the moment despite the shares already crashing more than 60% to da","images":[{"img":"https://static.tigerbbs.com/4acede65578abd3b13fbb5dd12aa7dc8","width":"-1","height":"-1"},{"img":"https://static.tigerbbs.com/aa93381a73ae3d0d2fc0941d24f40665","width":"-1","height":"-1"},{"img":"https://static.tigerbbs.com/435b8b4d0a21badfa62a7e94b84de12e","width":"-1","height":"-1"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/633581048","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":3,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":277,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9007600116,"gmtCreate":1642850630542,"gmtModify":1676533752722,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9007600116","repostId":"9004629262","repostType":1,"repost":{"id":9004629262,"gmtCreate":1642589737712,"gmtModify":1676533725345,"author":{"id":"4102740236684050","authorId":"4102740236684050","name":"MaverickWealthBuilder","avatar":"https://community-static.tradeup.com/news/bbf0f514b8e5abb92266789b89f6e1e6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4102740236684050","authorIdStr":"4102740236684050"},"themes":[],"title":"Can Microsoft sit back and relax with Blizzard at a premium of 40%?","htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/MSFT\">$Microsoft(MSFT)$</a>Announced that it will buy <a target=\"_blank\" href=\"https://laohu8.com/S/ATVI\">$Activision Blizzard(ATVI)$</a>at a price of $95 per share&nbsp;Jan&nbsp;18th,&nbsp;after that, the $68.7 billion deal suddenly became the focus of the pan-entertainment and technology circle. Related&nbsp;Reading: <a href=\"https://laohu8.com/TW/{&quot;id&quot;:&quot;9004689292&quot;}\" target=\"_blank\">Microsoft Bought our Game Memories by $68.7 Billion!</a> <a href=\"https://laohu8.com/TW/{&quot;id&quot;:&quot;9004612605&quot;}\" target=\"_blank\">Microsoft's $68.7 bln Deal of Activision, Worth It?</a> Below&nbsp;are&nbsp;4&nbsp;questions&nbsp;i&nbsp;would&nbsp;like&nbsp;to&nbsp;bring&nbsp;to&nbsp;you&nbsp;to&nbsp;think&nbsp;about.&nbsp; 1.&amp;nbs","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/MSFT\">$Microsoft(MSFT)$</a>Announced that it will buy <a target=\"_blank\" href=\"https://laohu8.com/S/ATVI\">$Activision Blizzard(ATVI)$</a>at a price of $95 per share&nbsp;Jan&nbsp;18th,&nbsp;after that, the $68.7 billion deal suddenly became the focus of the pan-entertainment and technology circle. Related&nbsp;Reading: <a href=\"https://laohu8.com/TW/{&quot;id&quot;:&quot;9004689292&quot;}\" target=\"_blank\">Microsoft Bought our Game Memories by $68.7 Billion!</a> <a href=\"https://laohu8.com/TW/{&quot;id&quot;:&quot;9004612605&quot;}\" target=\"_blank\">Microsoft's $68.7 bln Deal of Activision, Worth It?</a> Below&nbsp;are&nbsp;4&nbsp;questions&nbsp;i&nbsp;would&nbsp;like&nbsp;to&nbsp;bring&nbsp;to&nbsp;you&nbsp;to&nbsp;think&nbsp;about.&nbsp; 1.&amp;nbs","text":"$Microsoft(MSFT)$Announced that it will buy $Activision Blizzard(ATVI)$at a price of $95 per share Jan 18th, after that, the $68.7 billion deal suddenly became the focus of the pan-entertainment and technology circle. Related Reading: Microsoft Bought our Game Memories by $68.7 Billion! Microsoft's $68.7 bln Deal of Activision, Worth It? Below are 4 questions i would like to bring to you to think about. 1.&nbs","images":[{"img":"https://static.tigerbbs.com/3b0b49eccde04aac9c8baf739813ac09","width":"796","height":"721"},{"img":"https://static.tigerbbs.com/ed6250705257ac7df2e6e99f9bb7391a","width":"1920","height":"1080"},{"img":"https://static.tigerbbs.com/ac1a35e52d05f143fc010fd45219d0ee","width":"1023","height":"768"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9004629262","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":4,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":210,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":861025385,"gmtCreate":1632443961447,"gmtModify":1676530783547,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SOFI\">$SoFi Technologies Inc.(SOFI)$</a>Bank charter rumour...","listText":"<a href=\"https://laohu8.com/S/SOFI\">$SoFi Technologies Inc.(SOFI)$</a>Bank charter rumour...","text":"$SoFi Technologies Inc.(SOFI)$Bank charter rumour...","images":[{"img":"https://static.tigerbbs.com/cdbe9570b70d44284c9f77467b1649f2","width":"1080","height":"3720"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/861025385","isVote":1,"tweetType":1,"viewCount":173,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":887365813,"gmtCreate":1631978640132,"gmtModify":1676530681350,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PTRA\">$Proterra Inc.(PTRA)$</a>gogogo","listText":"<a href=\"https://laohu8.com/S/PTRA\">$Proterra Inc.(PTRA)$</a>gogogo","text":"$Proterra Inc.(PTRA)$gogogo","images":[{"img":"https://static.tigerbbs.com/db50925b1ce36c824d1915e20d21b652","width":"1080","height":"3720"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/887365813","isVote":1,"tweetType":1,"viewCount":214,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":884233826,"gmtCreate":1631892005265,"gmtModify":1676530664344,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/ORGS\">$Orgenesis Inc.(ORGS)$</a>Let's go.","listText":"<a href=\"https://laohu8.com/S/ORGS\">$Orgenesis Inc.(ORGS)$</a>Let's go.","text":"$Orgenesis Inc.(ORGS)$Let's go.","images":[{"img":"https://static.tigerbbs.com/229a4050ee305e4ffe2e9e1986e3d391","width":"1080","height":"3633"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/884233826","isVote":1,"tweetType":1,"viewCount":207,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":830231414,"gmtCreate":1629074673338,"gmtModify":1676529920654,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Wilmar.","listText":"Wilmar.","text":"Wilmar.","images":[{"img":"https://static.tigerbbs.com/01f4b974f28fc851c4a2649cadd9ba48","width":"1080","height":"3633"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/830231414","isVote":1,"tweetType":1,"viewCount":217,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":830375343,"gmtCreate":1629020643582,"gmtModify":1676529912162,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Palantir!","listText":"Palantir!","text":"Palantir!","images":[{"img":"https://static.tigerbbs.com/24161325bbf511153b42240a87c4c115","width":"1080","height":"3720"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/830375343","isVote":1,"tweetType":1,"viewCount":100,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":830372267,"gmtCreate":1629020572559,"gmtModify":1676529912147,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/830372267","repostId":"807919017","repostType":1,"repost":{"id":807919017,"gmtCreate":1627995702639,"gmtModify":1703499292702,"author":{"id":"3556134694513016","authorId":"3556134694513016","name":"3Fs","avatar":"https://static.tigerbbs.com/26cf959de8173b4a8aaee5e8568a8eff","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556134694513016","authorIdStr":"3556134694513016"},"themes":[],"title":"Alibaba Group Holdings - FY2022 Q1 Earning + Live Conference","htmlText":"Alibaba Group Holdings started the new fiscal year quarter 1 reporting for FY2022 by delivering a pretty decent resultsRevenue for the quarter is at US$31.8 billion, which represents a 34% increase year on year. This includes the consolidation of Sun Art, which was consolidated into the Group numbers from previous quarter.Without Sun Art, revenue would have grown 22% year on year.Monthly Active Customer (MAU) for the platform ecosystem grew to 1.18 billion globally, which is an increase of over 45 million from the previous year. This is broken down into 912m for China consumers and 265 International consumers outside China. Inside China's 912m active users, 828m is mostly engaged in Taobao and Tmall - a dominant China retail marketplace.Income from operations and EBITDA decreased by 11% an","listText":"Alibaba Group Holdings started the new fiscal year quarter 1 reporting for FY2022 by delivering a pretty decent resultsRevenue for the quarter is at US$31.8 billion, which represents a 34% increase year on year. This includes the consolidation of Sun Art, which was consolidated into the Group numbers from previous quarter.Without Sun Art, revenue would have grown 22% year on year.Monthly Active Customer (MAU) for the platform ecosystem grew to 1.18 billion globally, which is an increase of over 45 million from the previous year. This is broken down into 912m for China consumers and 265 International consumers outside China. Inside China's 912m active users, 828m is mostly engaged in Taobao and Tmall - a dominant China retail marketplace.Income from operations and EBITDA decreased by 11% an","text":"Alibaba Group Holdings started the new fiscal year quarter 1 reporting for FY2022 by delivering a pretty decent resultsRevenue for the quarter is at US$31.8 billion, which represents a 34% increase year on year. This includes the consolidation of Sun Art, which was consolidated into the Group numbers from previous quarter.Without Sun Art, revenue would have grown 22% year on year.Monthly Active Customer (MAU) for the platform ecosystem grew to 1.18 billion globally, which is an increase of over 45 million from the previous year. This is broken down into 912m for China consumers and 265 International consumers outside China. Inside China's 912m active users, 828m is mostly engaged in Taobao and Tmall - a dominant China retail marketplace.Income from operations and EBITDA decreased by 11% an","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807919017","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":40,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892137897,"gmtCreate":1628643191019,"gmtModify":1676529805316,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Bullish reversal for Wilmar?","listText":"Bullish reversal for Wilmar?","text":"Bullish reversal for Wilmar?","images":[{"img":"https://static.tigerbbs.com/7c5cb8e1f3abd34841dd6ecaa60039df","width":"1080","height":"3633"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":1,"link":"https://ttm.financial/post/892137897","isVote":1,"tweetType":1,"viewCount":55,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":896157564,"gmtCreate":1628563727658,"gmtModify":1703508194287,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"OCBC turning bullish after the lifting of dividend cap by MAS.","listText":"OCBC turning bullish after the lifting of dividend cap by MAS.","text":"OCBC turning bullish after the lifting of dividend cap by MAS.","images":[{"img":"https://static.tigerbbs.com/aec558b758cd4b01cf58cfcbf5c833ad","width":"1080","height":"3633"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/896157564","isVote":1,"tweetType":1,"viewCount":194,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":898337149,"gmtCreate":1628473034381,"gmtModify":1703506558394,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Crazy correction for SGX.","listText":"Crazy correction for SGX.","text":"Crazy correction for SGX.","images":[{"img":"https://static.tigerbbs.com/44ebf02497fb2584c33b2d6cab87d4e0","width":"1080","height":"3633"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/898337149","isVote":1,"tweetType":1,"viewCount":67,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":807352993,"gmtCreate":1628002043612,"gmtModify":1703499491378,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Nanofilm","listText":"Nanofilm","text":"Nanofilm","images":[{"img":"https://static.tigerbbs.com/baad0328182039fd5f6fa5926368a22b","width":"1080","height":"3678"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/807352993","isVote":1,"tweetType":1,"viewCount":57,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":805367769,"gmtCreate":1627861937051,"gmtModify":1703496601194,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"HRNet consolidation after recent breakout.","listText":"HRNet consolidation after recent breakout.","text":"HRNet consolidation after recent breakout.","images":[{"img":"https://static.tigerbbs.com/b187541dc9d8750108bf534ee1d43eb9","width":"1080","height":"3678"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/805367769","isVote":1,"tweetType":1,"viewCount":154,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"content":"Consolidation at $0.80 level. More breakout coming soon?","text":"Consolidation at $0.80 level. More breakout coming soon?","html":"Consolidation at $0.80 level. More breakout coming soon?"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":805363297,"gmtCreate":1627861552919,"gmtModify":1703496590057,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share 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China!"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":105113665,"gmtCreate":1620277010457,"gmtModify":1704341232658,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"To buy or not to buy?","listText":"To buy or not to buy?","text":"To buy or not to 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happening!","images":[{"img":"https://static.tigerbbs.com/df65ce39bc135390086283555e04d8c8","width":"1080","height":"3324"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":1,"link":"https://ttm.financial/post/101563905","isVote":1,"tweetType":1,"viewCount":178,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576883299034662","authorId":"3576883299034662","name":"Yyangg","avatar":"https://static.tigerbbs.com/74cbe0d51c849a822760af8bc2dd6068","crmLevel":5,"crmLevelSwitch":0,"idStr":"3576883299034662","authorIdStr":"3576883299034662"},"content":"[Smile]","text":"[Smile]","html":"[Smile]"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":191893863,"gmtCreate":1620867709652,"gmtModify":1704349507598,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"<a 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higher?","images":[{"img":"https://static.tigerbbs.com/ab9de2ae1240bb2f7c74f80a1bd8b50b","width":"1080","height":"3629"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/152720599","isVote":1,"tweetType":1,"viewCount":97,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"content":"@Yyangg it did went higher yst haha.","text":"@Yyangg it did went higher yst haha.","html":"@Yyangg it did went higher yst haha."}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":126246401,"gmtCreate":1624577121503,"gmtModify":1703840587645,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/126246401","repostId":"1198422658","repostType":4,"repost":{"id":"1198422658","kind":"news","pubTimestamp":1624533829,"share":"https://ttm.financial/m/news/1198422658?lang=&edition=fundamental","pubTime":"2021-06-24 19:23","market":"us","language":"en","title":"Is Amazon Stock A Better Buy Than Apple Through 2025?","url":"https://stock-news.laohu8.com/highlight/detail?id=1198422658","media":"The Street","summary":"Amazon shares may seem much pricier than Apple today, but the valuation gap should narrow over time. With both stocks valued at 21 times 2025 earnings, which is a better buy today?At first glance, Apple  -Get Report and Amazon  -Get Report stocks appeal to two distinct group of investors. The former, trading at 26 times current earnings, is a blend of value and growth, what some might call a GARP play. The latter, trading at 64 times EPS, is the highest growth of FAAMG names.First, I find it hig","content":"<blockquote>\n Amazon shares may seem much pricier than Apple today, but the valuation gap should narrow over time. With both stocks valued at 21 times 2025 earnings, which is a better buy today?\n</blockquote>\n<p>At first glance, Apple&nbsp;(<b>AAPL</b>) -Get Report&nbsp;and Amazon&nbsp;(<b>AMZN</b>) -Get Report&nbsp;stocks appeal to two distinct group of investors. The former, trading at 26 times current earnings, is a blend of value and growth, what some might call a GARP play. The latter, trading at 64 times EPS, is the highest growth of FAAMG names.</p>\n<p>But the Amazon Maven has unearthed an interesting finding. Both AAPL and AMZN are worth almost the same, in P/E terms, if one were to look forward to 2025. At comparable valuations, which is a better buy-and-hold through the mid-2020s?</p>\n<p><b>AAPL and AMZN: same valuation?</b></p>\n<p>The P/E multiple is a popular valuation metric that adds context to a stock’s market price. The numerator tends to be prior-year (trailing), current-year or next-year (forward) earnings per share.</p>\n<p>Amazon commands a higher multiple, among other reasons, because of the company’s more aggressive growth profile. Wall Street expects the e-commerce giant to increase EPS by a factor of four in the next five years. Apple, on the other hand, is project to “only” double earnings in the same period.</p>\n<p>By 2025, this is what analysts expect of each company’s bottom line, and what the stock’s P/E would be if share prices remained unchanged:</p>\n<ul>\n <li><b>Amazon</b>: 2025 EPS of $172.30, for a P/E of<b>20.4</b>times</li>\n <li><b>Apple</b>: fiscal 2025 EPS of $6.30, for a P/E of<b>21.2</b>times</li>\n</ul>\n<p>Given enough time and assuming that current earnings projections are close enough to accurate, Amazon tends to become a less aggressively valued stock by the year. Maybe one day, in the not-too-distant future, shares could even start to look more appealing to value investors.</p>\n<p><b>Which is the best bet?</b></p>\n<p>If Amazon and Apple are valued at roughly the same 2025 P/E, one fair question to ask is: which stock might perform best in the next five years? I can use the earnings multiple as a guide to think through this question.</p>\n<p>From the P/E formula, one can derive the following: future stock price is determined by the company’s earnings delivered (the denominator “E”) and how much investors are willing to pay for those earnings (the valuation multiple). Therefore, in the Amazon vs. Apple race to 2025, whichever does best at delivering EPS above consensus and/or commanding a richer earnings multiple wins.</p>\n<p>Clearly, this is open for debate since the future in uncertain. But I believe that Amazon stock has a better chance of producing higher gains than Apple through 2025.</p>\n<p>First, I find it highly unlikely that AMZN’s earnings multiple will converge from the 60s of today to the low 20s in 2025. This would only be feasible if the company’s growth opportunities dried out quickly, which I am not counting on. On the other hand, Apple’s P/E is more likely to stay around 20 to 25 times, given the more mature profile of the company relative to Amazon.</p>\n<p>This is not to say that I expect Amazon’s P/E to expand from 64 times. The opposite is more likely to happen, as the company ages. But if the stock is valued at, say, 40 times EPS in 2025, Amazon would not even need to deliver results beyond expectations to see its stock price double in five years.</p>\n<p>Regarding consensus, I also think that Amazon can beat expectations by a wider margin than Apple could. The e-commerce giant has been more aggressive at investing back in the business. The green- and brown-field revenue growth opportunities in e-commerce and cloud seem better.</p>\n<p>In addition, Amazon’s margins could expand substantially (see five-year trend below), if or once the company’s online retail business gets closer to maturity. Apple could also improve its margin profile but probably much less so, given how profitable the company already is.</p>\n<p><img src=\"https://static.tigerbbs.com/0e59ae6a459751303dfd48c45ae47f99\" tg-width=\"700\" tg-height=\"199\" referrerpolicy=\"no-referrer\"><i>Figure 2: AMZN gross margin vs. operating margin.</i></p>\n<p><i>Stock Rover</i></p>\n<p><b>Twitter speaks</b></p>\n<p>Fun fact: Amazon and Apple stock trade at roughly the same 2025 P/E (i.e. 2025 earnings in the denominator) of around 21 times, even though AMZN seems much more expensive at today’s valuations. Which do you think will produce more gains in the next five years?</p>\n<p><img src=\"https://static.tigerbbs.com/e56ed880cf0d62550fc0ee752a46efff\" tg-width=\"568\" tg-height=\"471\" referrerpolicy=\"no-referrer\"></p>","source":"lsy1610613172068","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Amazon Stock A Better Buy Than Apple Through 2025?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Amazon Stock A Better Buy Than Apple Through 2025?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 19:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/amazon/stock/is-amazon-stock-a-better-buy-than-apple-through-2025><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Amazon shares may seem much pricier than Apple today, but the valuation gap should narrow over time. With both stocks valued at 21 times 2025 earnings, which is a better buy today?\n\nAt first glance, ...</p>\n\n<a href=\"https://www.thestreet.com/amazon/stock/is-amazon-stock-a-better-buy-than-apple-through-2025\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","AAPL":"苹果"},"source_url":"https://www.thestreet.com/amazon/stock/is-amazon-stock-a-better-buy-than-apple-through-2025","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198422658","content_text":"Amazon shares may seem much pricier than Apple today, but the valuation gap should narrow over time. With both stocks valued at 21 times 2025 earnings, which is a better buy today?\n\nAt first glance, Apple (AAPL) -Get Report and Amazon (AMZN) -Get Report stocks appeal to two distinct group of investors. The former, trading at 26 times current earnings, is a blend of value and growth, what some might call a GARP play. The latter, trading at 64 times EPS, is the highest growth of FAAMG names.\nBut the Amazon Maven has unearthed an interesting finding. Both AAPL and AMZN are worth almost the same, in P/E terms, if one were to look forward to 2025. At comparable valuations, which is a better buy-and-hold through the mid-2020s?\nAAPL and AMZN: same valuation?\nThe P/E multiple is a popular valuation metric that adds context to a stock’s market price. The numerator tends to be prior-year (trailing), current-year or next-year (forward) earnings per share.\nAmazon commands a higher multiple, among other reasons, because of the company’s more aggressive growth profile. Wall Street expects the e-commerce giant to increase EPS by a factor of four in the next five years. Apple, on the other hand, is project to “only” double earnings in the same period.\nBy 2025, this is what analysts expect of each company’s bottom line, and what the stock’s P/E would be if share prices remained unchanged:\n\nAmazon: 2025 EPS of $172.30, for a P/E of20.4times\nApple: fiscal 2025 EPS of $6.30, for a P/E of21.2times\n\nGiven enough time and assuming that current earnings projections are close enough to accurate, Amazon tends to become a less aggressively valued stock by the year. Maybe one day, in the not-too-distant future, shares could even start to look more appealing to value investors.\nWhich is the best bet?\nIf Amazon and Apple are valued at roughly the same 2025 P/E, one fair question to ask is: which stock might perform best in the next five years? I can use the earnings multiple as a guide to think through this question.\nFrom the P/E formula, one can derive the following: future stock price is determined by the company’s earnings delivered (the denominator “E”) and how much investors are willing to pay for those earnings (the valuation multiple). Therefore, in the Amazon vs. Apple race to 2025, whichever does best at delivering EPS above consensus and/or commanding a richer earnings multiple wins.\nClearly, this is open for debate since the future in uncertain. But I believe that Amazon stock has a better chance of producing higher gains than Apple through 2025.\nFirst, I find it highly unlikely that AMZN’s earnings multiple will converge from the 60s of today to the low 20s in 2025. This would only be feasible if the company’s growth opportunities dried out quickly, which I am not counting on. On the other hand, Apple’s P/E is more likely to stay around 20 to 25 times, given the more mature profile of the company relative to Amazon.\nThis is not to say that I expect Amazon’s P/E to expand from 64 times. The opposite is more likely to happen, as the company ages. But if the stock is valued at, say, 40 times EPS in 2025, Amazon would not even need to deliver results beyond expectations to see its stock price double in five years.\nRegarding consensus, I also think that Amazon can beat expectations by a wider margin than Apple could. The e-commerce giant has been more aggressive at investing back in the business. The green- and brown-field revenue growth opportunities in e-commerce and cloud seem better.\nIn addition, Amazon’s margins could expand substantially (see five-year trend below), if or once the company’s online retail business gets closer to maturity. Apple could also improve its margin profile but probably much less so, given how profitable the company already is.\nFigure 2: AMZN gross margin vs. operating margin.\nStock Rover\nTwitter speaks\nFun fact: Amazon and Apple stock trade at roughly the same 2025 P/E (i.e. 2025 earnings in the denominator) of around 21 times, even though AMZN seems much more expensive at today’s valuations. Which do you think will produce more gains in the next five years?","news_type":1},"isVote":1,"tweetType":1,"viewCount":126,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"content":"@Yyangg Take your pick, AMZN or AAPL?","text":"@Yyangg Take your pick, AMZN or AAPL?","html":"@Yyangg Take your pick, AMZN or AAPL?"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165217035,"gmtCreate":1624146476727,"gmtModify":1703829287090,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"SPAC by Bill Ackman?","listText":"SPAC by Bill Ackman?","text":"SPAC by Bill Ackman?","images":[{"img":"https://static.tigerbbs.com/b6f93a92d2187a279099c964157f63c7","width":"1080","height":"3324"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/165217035","isVote":1,"tweetType":1,"viewCount":131,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":371415450,"gmtCreate":1618965338370,"gmtModify":1704717545180,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Anyone gearing up to pre order the latest Apple devices?","listText":"Anyone gearing up to pre order the latest Apple devices?","text":"Anyone gearing up to pre order the latest Apple devices?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/371415450","repostId":"2129784086","repostType":4,"repost":{"id":"2129784086","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618940403,"share":"https://ttm.financial/m/news/2129784086?lang=&edition=fundamental","pubTime":"2021-04-21 01:40","market":"us","language":"en","title":"Apple Introduces iPhone 12 and iPhone 12 mini in a Stunning New Purple","url":"https://stock-news.laohu8.com/highlight/detail?id=2129784086","media":"Tiger Newspress","summary":"Apple today unveiled an all-new stunning purple finish for iPhone 12 and iPhone 12 mini. This new color beautifully accentuates the flat aluminum edges of iPhone 12, which are perfectly color-matched to the precision-milled back glass. Both models feature an advanced dual-camera system that delivers powerful computational photography features and the highest-quality video in a smartphone, with expansive edge-to-edge Super Retina XDR displays with OLED for a brighter, more immersive viewing exper","content":"<p>Apple&nbsp;today unveiled an all-new stunning purple finish for iPhone 12 and iPhone 12 mini. This new color beautifully accentuates the flat aluminum edges of iPhone 12, which are perfectly color-matched to the precision-milled back glass. Both models feature an advanced dual-camera system that delivers powerful computational photography features and the highest-quality video in a smartphone, with expansive edge-to-edge Super Retina XDR™ displays with OLED for a brighter, more immersive viewing experience, and the Ceramic Shield™ front cover, providing the biggest jump in durability ever on iPhone. The Apple-designed A14 Bionic™ — the fastest chip in a smartphone — powers every experience on iPhone 12 while efficiently managing battery life. iPhone 12 models also bring the best 5G experience, and introduce high-powered wireless charging with MagSafe® and a new ecosystem of accessories that easily attach to iPhone.</p><p><img src=\"https://static.tigerbbs.com/9c448d2543bc9b1a9f524667974831f9\" tg-width=\"480\" tg-height=\"360\" referrerpolicy=\"no-referrer\"></p><p>iPhone 12 and iPhone 12 mini in purple will be available for pre-order beginning Friday, April 23, with availability beginning Friday, April 30. Customers can also complement their iPhone with a new MagSafe Leather Case or Leather Sleeve in Deep Violet, a Silicone Case in Capri Blue, Pistachio, Cantaloupe, or Amethyst, or a Leather Wallet in Arizona, all available to order beginning today.</p><p>Apple Inc&nbsp;announced AirTags to find lost items and podcast subscription services that will compete with rival Spotify(SPOT.N)and also introduced an array of slim iMac computers in a variety of colors.</p><p><img src=\"https://static.tigerbbs.com/49de8d6362ac5cea990b248f37bc7398\" tg-width=\"1522\" tg-height=\"835\" referrerpolicy=\"no-referrer\"></p><p>AirTags will cost $29 each or four for $99 and will be available starting 8 a.m. ET (1200 GMT) on April 30. Podcast subscription prices will be set by creators and billed monthly, Apple said. Apple will charge creators $19.99 per year for its podcast program.</p><p>Apple introduced a thinner version of its iMac computer that uses its house-designed central processor unit and comes in seven colors, including purple and green. With a 24-inch (61-cm) display, the iMacs are just 11.5 millimeters thick.The iMac will start at $1,299.</p><p><img src=\"https://static.tigerbbs.com/4ab1f95890c11cb28657d58a7fedd1d0\" tg-width=\"1510\" tg-height=\"849\" referrerpolicy=\"no-referrer\"></p><p>Apple introduced new iPad Pros that use the same M1 chip as its computers, rather than a beefed up version of its iPhone chips, and additional ports for connecting monitors and 5G connectivity, aiming the device at content creators looking for a mobile device. The company also said that controllers from Sony's PlayStation and Microsoft's Xbox would work with the iPad Pro, targeting gamers with the new device's speed and display.</p><p>Apple also updated its Apple TV set top box with better color output and a faster processor chip. The new Apple TV 4K will also let users improve a TV's picture by using light sensors on the iPhone.</p><p><img src=\"https://static.tigerbbs.com/80299365d94ead288ef8026cb9584d4c\" tg-width=\"1167\" tg-height=\"685\" referrerpolicy=\"no-referrer\"></p><p>Apple said that spouses and partners would be able to share and merge credit lines with its Apple Card, which CEO Tim Cook described as an important step toward making it easier for people to build their credit scores.</p><p>Apple's launch did not mention iCar related issues.</p><p>Apple shares have risen nearly 95% over the past year, faster than the 63% rise in the Nasdaq Composite Index, thanks to a record $274.5 billion in sales for fiscal 2020 as consumers stocked up on electronics during the pandemic. Apple shares were down 1.5%.</p><p><img src=\"https://static.tigerbbs.com/771b46ec0e4dc774e9295a821f897bf4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Macs and iPads accounted for $52.3 billion during its fiscal 2020.</p><p>“The Pro iPads are not the volume sellers, but they blur the line between Mac and iPad. How Apple differentiates between the iPad Pro and the Mac will be very interesting to watch,\" Ben Bajarin, principal analyst for consumer market intelligence at Creative Strategies.</p><p>The AirTag announcement could result in a new round of complaints to lawmakers that Apple is hurting smaller rivals. Tile, a startup that has sold a competing tracker for nearly a decade, last year testified before the U.S. House of Representatives that Apple's App Store rules had made it harder to use Tile's products and will be called before the U.S. Senate to testify on Wednesday.read more</p><p>Apple has said it subjects all apps, including its own, to the same App Store review rules.</p><p>Bob O'Donnell, head of TECHnalysis Research, said he does not believe the trackers will become a big business on their own. \"Because they are so late to this, it might not be that much different than when Apple got into set top boxes like Apple TV. They’re a player. They’re there, but they're not huge,\" he said.</p><p>But Bajarin said the trackers could keep people tied to their iPhones if they rely on them to find items like keys and wallets.</p><p>“The more you buy into just one hardware product, the less likely it is you’ll ever leave,” Bajarin said.</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>Apple Introduces iPhone 12 and iPhone 12 mini in a Stunning New Purple</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Introduces iPhone 12 and iPhone 12 mini in a Stunning New Purple\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-04-21 01:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Apple&nbsp;today unveiled an all-new stunning purple finish for iPhone 12 and iPhone 12 mini. This new color beautifully accentuates the flat aluminum edges of iPhone 12, which are perfectly color-matched to the precision-milled back glass. Both models feature an advanced dual-camera system that delivers powerful computational photography features and the highest-quality video in a smartphone, with expansive edge-to-edge Super Retina XDR™ displays with OLED for a brighter, more immersive viewing experience, and the Ceramic Shield™ front cover, providing the biggest jump in durability ever on iPhone. The Apple-designed A14 Bionic™ — the fastest chip in a smartphone — powers every experience on iPhone 12 while efficiently managing battery life. iPhone 12 models also bring the best 5G experience, and introduce high-powered wireless charging with MagSafe® and a new ecosystem of accessories that easily attach to iPhone.</p><p><img src=\"https://static.tigerbbs.com/9c448d2543bc9b1a9f524667974831f9\" tg-width=\"480\" tg-height=\"360\" referrerpolicy=\"no-referrer\"></p><p>iPhone 12 and iPhone 12 mini in purple will be available for pre-order beginning Friday, April 23, with availability beginning Friday, April 30. Customers can also complement their iPhone with a new MagSafe Leather Case or Leather Sleeve in Deep Violet, a Silicone Case in Capri Blue, Pistachio, Cantaloupe, or Amethyst, or a Leather Wallet in Arizona, all available to order beginning today.</p><p>Apple Inc&nbsp;announced AirTags to find lost items and podcast subscription services that will compete with rival Spotify(SPOT.N)and also introduced an array of slim iMac computers in a variety of colors.</p><p><img src=\"https://static.tigerbbs.com/49de8d6362ac5cea990b248f37bc7398\" tg-width=\"1522\" tg-height=\"835\" referrerpolicy=\"no-referrer\"></p><p>AirTags will cost $29 each or four for $99 and will be available starting 8 a.m. ET (1200 GMT) on April 30. Podcast subscription prices will be set by creators and billed monthly, Apple said. Apple will charge creators $19.99 per year for its podcast program.</p><p>Apple introduced a thinner version of its iMac computer that uses its house-designed central processor unit and comes in seven colors, including purple and green. With a 24-inch (61-cm) display, the iMacs are just 11.5 millimeters thick.The iMac will start at $1,299.</p><p><img src=\"https://static.tigerbbs.com/4ab1f95890c11cb28657d58a7fedd1d0\" tg-width=\"1510\" tg-height=\"849\" referrerpolicy=\"no-referrer\"></p><p>Apple introduced new iPad Pros that use the same M1 chip as its computers, rather than a beefed up version of its iPhone chips, and additional ports for connecting monitors and 5G connectivity, aiming the device at content creators looking for a mobile device. The company also said that controllers from Sony's PlayStation and Microsoft's Xbox would work with the iPad Pro, targeting gamers with the new device's speed and display.</p><p>Apple also updated its Apple TV set top box with better color output and a faster processor chip. The new Apple TV 4K will also let users improve a TV's picture by using light sensors on the iPhone.</p><p><img src=\"https://static.tigerbbs.com/80299365d94ead288ef8026cb9584d4c\" tg-width=\"1167\" tg-height=\"685\" referrerpolicy=\"no-referrer\"></p><p>Apple said that spouses and partners would be able to share and merge credit lines with its Apple Card, which CEO Tim Cook described as an important step toward making it easier for people to build their credit scores.</p><p>Apple's launch did not mention iCar related issues.</p><p>Apple shares have risen nearly 95% over the past year, faster than the 63% rise in the Nasdaq Composite Index, thanks to a record $274.5 billion in sales for fiscal 2020 as consumers stocked up on electronics during the pandemic. Apple shares were down 1.5%.</p><p><img src=\"https://static.tigerbbs.com/771b46ec0e4dc774e9295a821f897bf4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Macs and iPads accounted for $52.3 billion during its fiscal 2020.</p><p>“The Pro iPads are not the volume sellers, but they blur the line between Mac and iPad. How Apple differentiates between the iPad Pro and the Mac will be very interesting to watch,\" Ben Bajarin, principal analyst for consumer market intelligence at Creative Strategies.</p><p>The AirTag announcement could result in a new round of complaints to lawmakers that Apple is hurting smaller rivals. Tile, a startup that has sold a competing tracker for nearly a decade, last year testified before the U.S. House of Representatives that Apple's App Store rules had made it harder to use Tile's products and will be called before the U.S. Senate to testify on Wednesday.read more</p><p>Apple has said it subjects all apps, including its own, to the same App Store review rules.</p><p>Bob O'Donnell, head of TECHnalysis Research, said he does not believe the trackers will become a big business on their own. \"Because they are so late to this, it might not be that much different than when Apple got into set top boxes like Apple TV. They’re a player. They’re there, but they're not huge,\" he said.</p><p>But Bajarin said the trackers could keep people tied to their iPhones if they rely on them to find items like keys and wallets.</p><p>“The more you buy into just one hardware product, the less likely it is you’ll ever leave,” Bajarin said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129784086","content_text":"Apple today unveiled an all-new stunning purple finish for iPhone 12 and iPhone 12 mini. This new color beautifully accentuates the flat aluminum edges of iPhone 12, which are perfectly color-matched to the precision-milled back glass. Both models feature an advanced dual-camera system that delivers powerful computational photography features and the highest-quality video in a smartphone, with expansive edge-to-edge Super Retina XDR™ displays with OLED for a brighter, more immersive viewing experience, and the Ceramic Shield™ front cover, providing the biggest jump in durability ever on iPhone. The Apple-designed A14 Bionic™ — the fastest chip in a smartphone — powers every experience on iPhone 12 while efficiently managing battery life. iPhone 12 models also bring the best 5G experience, and introduce high-powered wireless charging with MagSafe® and a new ecosystem of accessories that easily attach to iPhone.iPhone 12 and iPhone 12 mini in purple will be available for pre-order beginning Friday, April 23, with availability beginning Friday, April 30. Customers can also complement their iPhone with a new MagSafe Leather Case or Leather Sleeve in Deep Violet, a Silicone Case in Capri Blue, Pistachio, Cantaloupe, or Amethyst, or a Leather Wallet in Arizona, all available to order beginning today.Apple Inc announced AirTags to find lost items and podcast subscription services that will compete with rival Spotify(SPOT.N)and also introduced an array of slim iMac computers in a variety of colors.AirTags will cost $29 each or four for $99 and will be available starting 8 a.m. ET (1200 GMT) on April 30. Podcast subscription prices will be set by creators and billed monthly, Apple said. Apple will charge creators $19.99 per year for its podcast program.Apple introduced a thinner version of its iMac computer that uses its house-designed central processor unit and comes in seven colors, including purple and green. With a 24-inch (61-cm) display, the iMacs are just 11.5 millimeters thick.The iMac will start at $1,299.Apple introduced new iPad Pros that use the same M1 chip as its computers, rather than a beefed up version of its iPhone chips, and additional ports for connecting monitors and 5G connectivity, aiming the device at content creators looking for a mobile device. The company also said that controllers from Sony's PlayStation and Microsoft's Xbox would work with the iPad Pro, targeting gamers with the new device's speed and display.Apple also updated its Apple TV set top box with better color output and a faster processor chip. The new Apple TV 4K will also let users improve a TV's picture by using light sensors on the iPhone.Apple said that spouses and partners would be able to share and merge credit lines with its Apple Card, which CEO Tim Cook described as an important step toward making it easier for people to build their credit scores.Apple's launch did not mention iCar related issues.Apple shares have risen nearly 95% over the past year, faster than the 63% rise in the Nasdaq Composite Index, thanks to a record $274.5 billion in sales for fiscal 2020 as consumers stocked up on electronics during the pandemic. Apple shares were down 1.5%.Macs and iPads accounted for $52.3 billion during its fiscal 2020.“The Pro iPads are not the volume sellers, but they blur the line between Mac and iPad. How Apple differentiates between the iPad Pro and the Mac will be very interesting to watch,\" Ben Bajarin, principal analyst for consumer market intelligence at Creative Strategies.The AirTag announcement could result in a new round of complaints to lawmakers that Apple is hurting smaller rivals. Tile, a startup that has sold a competing tracker for nearly a decade, last year testified before the U.S. House of Representatives that Apple's App Store rules had made it harder to use Tile's products and will be called before the U.S. Senate to testify on Wednesday.read moreApple has said it subjects all apps, including its own, to the same App Store review rules.Bob O'Donnell, head of TECHnalysis Research, said he does not believe the trackers will become a big business on their own. \"Because they are so late to this, it might not be that much different than when Apple got into set top boxes like Apple TV. They’re a player. They’re there, but they're not huge,\" he said.But Bajarin said the trackers could keep people tied to their iPhones if they rely on them to find items like keys and wallets.“The more you buy into just one hardware product, the less likely it is you’ll ever leave,” Bajarin said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":115,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3574943393887740","authorId":"3574943393887740","name":"Geniex","avatar":"https://static.tigerbbs.com/581664640a374b5a1a5c0cc84f9d53f4","crmLevel":2,"crmLevelSwitch":0,"idStr":"3574943393887740","authorIdStr":"3574943393887740"},"content":"Please help to comment and like","text":"Please help to comment and like","html":"Please help to comment and like"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9082183221,"gmtCreate":1650539378971,"gmtModify":1676534747010,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9082183221","repostId":"2229797806","repostType":2,"repost":{"id":"2229797806","kind":"news","pubTimestamp":1650509285,"share":"https://ttm.financial/m/news/2229797806?lang=&edition=fundamental","pubTime":"2022-04-21 10:48","market":"us","language":"en","title":"Nvidia: Growth Beyond Moore's Law","url":"https://stock-news.laohu8.com/highlight/detail?id=2229797806","media":"seekingalpha","summary":"SummaryGlobal demand for computation power continues to grow exponentially, but unfortunately, CPU c","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Global demand for computation power continues to grow exponentially, but unfortunately, CPU capacity no longer grows exponentially. Moore&#39;s law has ended.</li><li>NVIDIA&#39;s GPU-accelerated computing has the best shot at meeting the continuously increasing computational demand.</li><li>Demand for their data center and professional visualization is accelerating, while growth from gaming remains outstanding.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9efbb9b3ba633f1f838307996a187d20\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/><span>Justin Sullivan/Getty Images News</span></p><p><b>Investment Thesis</b></p><p>NVIDIA (NASDAQ: NASDAQ:NVDA) initially started as a manufacturer of Graphics Processing Unit (GPU), and saw massive success as the gaming industry grew. Leveraging their superior GPU architecture and significant resources (technology, human capital, and cash), they branched out into scientific computing, artificial intelligence, data platforms, robotics, and other related fields. In particular, their GPU-accelerated computing has the best shot at answering the growing demand for computing power. The recent market volatility has lowered NVIDIA stock below its intrinsic value, and investors should take advantage because:</p><ul><li>Global demand for computing power is growing at an exponential rate, but CPU capacity isn&#39;t keeping pace. It is no longer following Moore&#39;s law of doubling every two years. NVIDIA&#39;s GPU-accelerated computing has the best shot at meeting the exponential growth in computing power.</li><li>Revenue growth is accelerating for the data center and professional visualization segments, while demand for gaming products remains outstanding.</li><li>Thanks to their superior products and economic moat, they enjoy outstanding profitability and massive cash flow.</li></ul><p><b>Solution for Post Moore&#39;s law Era</b></p><p>As we are all aware, the need for computing power is increasing at a rapid pace. Today, high-performance computing is being used in just about every industry, and the growth of block-chain technology, artificial intelligence, health care data usage, and data science are all contributing to the massive growth in demand for computing power. The unfortunate part is that the Central Processing Unit (CPU)&#39;s capacity no longer follows Moore&#39;s law anymore, and the growth rate has slowed from its historical trend.</p><p>Leveraging their superior GPU architecture and advanced technology, NVIDIA became a leader in GPU-accelerated computing, and they have the best shot at meeting the exponentially growing demand for computing power. Currently, NVIDIA&#39;s GPU and networking are able to accelerate many of the fastest supercomputers around the world. Also, their massively parallel computing architecture and associated software are well suited for deep learning, machine learning, and other artificial intelligence-related fields. The detail of the architecture is given in the next segment. Given their dominant leadership position in the GPU segment, superb R&amp;D team, and massive financial and technology resources, I expect them to remain a superpower in the high-performance computing industry.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a541f036692908f17b111307c62dcc7f\" tg-width=\"438\" tg-height=\"291\" width=\"100%\" height=\"auto\"/><span>Death of Moore&#39;s Law and GPU-Computing Performance (NVIDIA Investor Relations)</span></p><p><b>Why is GPU-accelerated computing better than a traditional CPU?</b></p><p>GPU is better able to meet higher computational demands than a CPU. Compared to a CPU, GPU has a lot more cores and is capable of much higher data processing throughput. Therefore, a GPU can break complex problems into thousands of separate tasks and work all at once (parallel computing). In contrast, CPU has low latency and zips through a series of problems at a much faster pace.</p><p>NVIDIA is the pioneer in GPU-accelerated computing platform. They have built a very powerful computation platform by combining the CPU and GPU to get the strengths of both. CPU acts as the quarterback of the system to host the unified and balanced system, the GPU accelerates the computing power with its high throughput capacity, and the Data Processing Units (DPUs) provide enhanced and accelerated networking. Leveraging their expertise in the GPU processing, I expect them to keep the lead in high-performance computing for a while.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9395c1954314b57b02b6aee76949ee25\" tg-width=\"292\" tg-height=\"172\" width=\"100%\" height=\"auto\"/><span>Difference Between CPU and GPU (NVIDIA Blog)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/95949cf42536303a865925e32b323897\" tg-width=\"614\" tg-height=\"254\" width=\"100%\" height=\"auto\"/><span>Comparison between traditional CPU vs. GPU accelerated computing (NVIDIA Blog)</span></p><p><b>Accelerating demand for their products</b></p><p>Thanks to their superior technology and performance, demand for their products is accelerating. The revenue growth for the data center and professional visualization segments achieved a staggering 71% and 109% YoY, respectively. The main growth drivers for the data center segment were a growing AI workload (deep learning, machine learning, and natural language processing) and cloud computing, while the drivers for professional visualization were the buildout of the hybrid work environment, 3D design, and rendering. The demand for their main segment, gaming, remained strong with 37% YoY growth.</p><p>Due to the increasing demand for automation and broadening applications for artificial intelligence, the market size for related fields will only continue to increase. Given their dominant leadership position in the GPU segment (83%) and superior computing platform design, I expect NVIDIA to maintain a superior growth trajectory across all three segments in the near future and achieve growth that is even higher than their historic levels (5 year average of 34%). They will certainly remain among my top picks for tech stocks for a while.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7786e73c2621f0d201b83456308db814\" tg-width=\"640\" tg-height=\"379\" width=\"100%\" height=\"auto\"/><span>Gaming Segment Performance (NVIDIA Investor Relations)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7328c22425b85f0f3dc425b6b06df6de\" tg-width=\"640\" tg-height=\"388\" width=\"100%\" height=\"auto\"/><span>Data Center Performance (NVIDIA Investor Relations)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/397cf85c2d69b9bf8ab6b747d14b5696\" tg-width=\"640\" tg-height=\"385\" width=\"100%\" height=\"auto\"/><span>Professional Visualization Performance (NVIDIA Investor Relations)</span></p><p><b>Outstanding profitability and cash flow</b></p><p>Superior technology and brand recognition provides an outstanding economic moat for NVIDIA, and this translates into the aforementioned superb market share and profitability. To give you a perspective of their dominance (market share of 83%), the market share of Microsoft Windows is about 75% on desktop, and the market share of Google is above 90% on search engine. NVIDIA is amongst impressive company. Also, given the increasing demand for computational power and NVIDIA&#39;s leadership position in high-performance computing platform, I expect the market share may increase in the future.</p><p>Leveraging their dominance, they can charge a steep premium on their products and services. This clearly shows up in their profit metrics. All of these metrics (EBIT margin, EBITDA margin, and Net income margin) are well above the sector median. Not only are the profit margins superior, but they have actually been increasing over the past three years, indicating that they are maintaining their superiority. Not surprisingly, given their superb profit margin and fast-rising revenue, they generate a massive operating cash flow ($9.1 B in 2021). I expect this to continue to be the case in the foreseeable future.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a8dafec76b7257c535e7be181cba0c9e\" tg-width=\"635\" tg-height=\"450\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a12bad0cda765dabed780de5d882efb3\" tg-width=\"520\" tg-height=\"303\" width=\"100%\" height=\"auto\"/><span>NVIDIA Profitability Metric (Seeking Alpha)</span></p><p><b>Intrinsic Value Estimation</b></p><p>I used DCF model to estimate the intrinsic value of NVIDIA. For the estimation, I utilized current operating cash flow ($9.1 B) and current WACC of 8.0% as the discount rate. For the base case, I assumed operating cash flow growth of 50% (mid point between historic value and most recent growth) for the next 5 years and zero growth afterwards (zero terminal growth). For the bullish and very bullish case, I assumed cash flow growth of 52% and 55%, respectively, for the next 5 years and zero growth afterwards. Given the most recent revenue growth was 61.4%, the growth rate of 52% and 55% are well within reason.</p><p>The estimation revealed that the current stock price presents 10-20% upside. Current market volatility is providing a rare opportunity to grab NVIDIA shares at a discount, and I think investors should take advantage of the opportunity. Given their superiority and market dominance, the stock price will achieve its intrinsic value or even trade at a premium in the long run.</p><p><img src=\"https://static.tigerbbs.com/6df7e49d2ebaa7d49c9eb8b97475f416\" tg-width=\"826\" tg-height=\"250\" width=\"100%\" height=\"auto\"/></p><p>The assumptions and data used for the price target estimation are summarized below:</p><ul><li>WACC: 8.0%</li><li>Cash Flow Growth Rate: 50% (Base Case), 52% (Bullish Case), 55% (Very Bullish Case)</li><li>Current Cash Flow: $9.1 B</li><li>Current Stock Price: $221.98 (04/19/2022)</li><li>Tax rate: 20%</li></ul><p><b>Risk</b></p><p>Reflecting the popularity of the company and its high growth expectations, the valuation of NVIDIA remains high even after the market-wide sell off. The P/E ratio of NVIDIA (TTM) is at 55.22x, which is almost twice that of the sector median, 26.38x. The high valuation leaves little room for disappointment, and any miss on revenue or profit could result in a substantial drop in stock price. This is especially true during rising interest rates, which typically hits growth stocks the hardest. Therefore, the investor should monitor the macroeconomic indicators.</p><p>The fields in which NVIDIA competes (GPU, Artificial Intelligence, and computing) are highly competitive, and there is always a chance of a new entrant or existing superpower (e.g., Intel, Google, etc) emerging with new technology that disrupts the market. For example, Apple cut ties with Intel a couple of years ago and started manufacturing their own CPU, which has been performing very well. The investor must keep up with rapid changes within the highly competitive tech landscape.</p><p><b>Conclusion</b></p><p>NVIDIA has been a superb investment, and a darling of Wall Street, for several years at this point. Given their superb technology and outstanding products, I expect the trend to continue. Also, the ever-increasing demand for computing power will accelerate NVIDIA&#39;s revenue growth for the foreseeable future. High valuation and the possibility of new technology may challenge NVIDIA, but they hold massive resources which should enable them to handle these threats. Overall, I expect 10-20% return in the long run.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia: Growth Beyond Moore's Law</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\">\nNvidia: Growth Beyond Moore's Law\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-21 10:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4502479-nvidia-growth-beyond-moores-law><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryGlobal demand for computation power continues to grow exponentially, but unfortunately, CPU capacity no longer grows exponentially. Moore's law has ended.NVIDIA's GPU-accelerated computing has ...</p>\n\n<a href=\"https://seekingalpha.com/article/4502479-nvidia-growth-beyond-moores-law\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4503":"景林资产持仓","BK4532":"文艺复兴科技持仓","BK4551":"寇图资本持仓","BK4548":"巴美列捷福持仓","NVDA":"英伟达","BK4554":"元宇宙及AR概念","BK4527":"明星科技股","BK4543":"AI","BK4567":"ESG概念","BK4529":"IDC概念","BK4534":"瑞士信贷持仓","BK4141":"半导体产品","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4581":"高盛持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4549":"软银资本持仓"},"source_url":"https://seekingalpha.com/article/4502479-nvidia-growth-beyond-moores-law","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2229797806","content_text":"SummaryGlobal demand for computation power continues to grow exponentially, but unfortunately, CPU capacity no longer grows exponentially. Moore's law has ended.NVIDIA's GPU-accelerated computing has the best shot at meeting the continuously increasing computational demand.Demand for their data center and professional visualization is accelerating, while growth from gaming remains outstanding.Justin Sullivan/Getty Images NewsInvestment ThesisNVIDIA (NASDAQ: NASDAQ:NVDA) initially started as a manufacturer of Graphics Processing Unit (GPU), and saw massive success as the gaming industry grew. Leveraging their superior GPU architecture and significant resources (technology, human capital, and cash), they branched out into scientific computing, artificial intelligence, data platforms, robotics, and other related fields. In particular, their GPU-accelerated computing has the best shot at answering the growing demand for computing power. The recent market volatility has lowered NVIDIA stock below its intrinsic value, and investors should take advantage because:Global demand for computing power is growing at an exponential rate, but CPU capacity isn't keeping pace. It is no longer following Moore's law of doubling every two years. NVIDIA's GPU-accelerated computing has the best shot at meeting the exponential growth in computing power.Revenue growth is accelerating for the data center and professional visualization segments, while demand for gaming products remains outstanding.Thanks to their superior products and economic moat, they enjoy outstanding profitability and massive cash flow.Solution for Post Moore's law EraAs we are all aware, the need for computing power is increasing at a rapid pace. Today, high-performance computing is being used in just about every industry, and the growth of block-chain technology, artificial intelligence, health care data usage, and data science are all contributing to the massive growth in demand for computing power. The unfortunate part is that the Central Processing Unit (CPU)'s capacity no longer follows Moore's law anymore, and the growth rate has slowed from its historical trend.Leveraging their superior GPU architecture and advanced technology, NVIDIA became a leader in GPU-accelerated computing, and they have the best shot at meeting the exponentially growing demand for computing power. Currently, NVIDIA's GPU and networking are able to accelerate many of the fastest supercomputers around the world. Also, their massively parallel computing architecture and associated software are well suited for deep learning, machine learning, and other artificial intelligence-related fields. The detail of the architecture is given in the next segment. Given their dominant leadership position in the GPU segment, superb R&D team, and massive financial and technology resources, I expect them to remain a superpower in the high-performance computing industry.Death of Moore's Law and GPU-Computing Performance (NVIDIA Investor Relations)Why is GPU-accelerated computing better than a traditional CPU?GPU is better able to meet higher computational demands than a CPU. Compared to a CPU, GPU has a lot more cores and is capable of much higher data processing throughput. Therefore, a GPU can break complex problems into thousands of separate tasks and work all at once (parallel computing). In contrast, CPU has low latency and zips through a series of problems at a much faster pace.NVIDIA is the pioneer in GPU-accelerated computing platform. They have built a very powerful computation platform by combining the CPU and GPU to get the strengths of both. CPU acts as the quarterback of the system to host the unified and balanced system, the GPU accelerates the computing power with its high throughput capacity, and the Data Processing Units (DPUs) provide enhanced and accelerated networking. Leveraging their expertise in the GPU processing, I expect them to keep the lead in high-performance computing for a while.Difference Between CPU and GPU (NVIDIA Blog)Comparison between traditional CPU vs. GPU accelerated computing (NVIDIA Blog)Accelerating demand for their productsThanks to their superior technology and performance, demand for their products is accelerating. The revenue growth for the data center and professional visualization segments achieved a staggering 71% and 109% YoY, respectively. The main growth drivers for the data center segment were a growing AI workload (deep learning, machine learning, and natural language processing) and cloud computing, while the drivers for professional visualization were the buildout of the hybrid work environment, 3D design, and rendering. The demand for their main segment, gaming, remained strong with 37% YoY growth.Due to the increasing demand for automation and broadening applications for artificial intelligence, the market size for related fields will only continue to increase. Given their dominant leadership position in the GPU segment (83%) and superior computing platform design, I expect NVIDIA to maintain a superior growth trajectory across all three segments in the near future and achieve growth that is even higher than their historic levels (5 year average of 34%). They will certainly remain among my top picks for tech stocks for a while.Gaming Segment Performance (NVIDIA Investor Relations)Data Center Performance (NVIDIA Investor Relations)Professional Visualization Performance (NVIDIA Investor Relations)Outstanding profitability and cash flowSuperior technology and brand recognition provides an outstanding economic moat for NVIDIA, and this translates into the aforementioned superb market share and profitability. To give you a perspective of their dominance (market share of 83%), the market share of Microsoft Windows is about 75% on desktop, and the market share of Google is above 90% on search engine. NVIDIA is amongst impressive company. Also, given the increasing demand for computational power and NVIDIA's leadership position in high-performance computing platform, I expect the market share may increase in the future.Leveraging their dominance, they can charge a steep premium on their products and services. This clearly shows up in their profit metrics. All of these metrics (EBIT margin, EBITDA margin, and Net income margin) are well above the sector median. Not only are the profit margins superior, but they have actually been increasing over the past three years, indicating that they are maintaining their superiority. Not surprisingly, given their superb profit margin and fast-rising revenue, they generate a massive operating cash flow ($9.1 B in 2021). I expect this to continue to be the case in the foreseeable future.Data by YChartsNVIDIA Profitability Metric (Seeking Alpha)Intrinsic Value EstimationI used DCF model to estimate the intrinsic value of NVIDIA. For the estimation, I utilized current operating cash flow ($9.1 B) and current WACC of 8.0% as the discount rate. For the base case, I assumed operating cash flow growth of 50% (mid point between historic value and most recent growth) for the next 5 years and zero growth afterwards (zero terminal growth). For the bullish and very bullish case, I assumed cash flow growth of 52% and 55%, respectively, for the next 5 years and zero growth afterwards. Given the most recent revenue growth was 61.4%, the growth rate of 52% and 55% are well within reason.The estimation revealed that the current stock price presents 10-20% upside. Current market volatility is providing a rare opportunity to grab NVIDIA shares at a discount, and I think investors should take advantage of the opportunity. Given their superiority and market dominance, the stock price will achieve its intrinsic value or even trade at a premium in the long run.The assumptions and data used for the price target estimation are summarized below:WACC: 8.0%Cash Flow Growth Rate: 50% (Base Case), 52% (Bullish Case), 55% (Very Bullish Case)Current Cash Flow: $9.1 BCurrent Stock Price: $221.98 (04/19/2022)Tax rate: 20%RiskReflecting the popularity of the company and its high growth expectations, the valuation of NVIDIA remains high even after the market-wide sell off. The P/E ratio of NVIDIA (TTM) is at 55.22x, which is almost twice that of the sector median, 26.38x. The high valuation leaves little room for disappointment, and any miss on revenue or profit could result in a substantial drop in stock price. This is especially true during rising interest rates, which typically hits growth stocks the hardest. Therefore, the investor should monitor the macroeconomic indicators.The fields in which NVIDIA competes (GPU, Artificial Intelligence, and computing) are highly competitive, and there is always a chance of a new entrant or existing superpower (e.g., Intel, Google, etc) emerging with new technology that disrupts the market. For example, Apple cut ties with Intel a couple of years ago and started manufacturing their own CPU, which has been performing very well. The investor must keep up with rapid changes within the highly competitive tech landscape.ConclusionNVIDIA has been a superb investment, and a darling of Wall Street, for several years at this point. Given their superb technology and outstanding products, I expect the trend to continue. Also, the ever-increasing demand for computing power will accelerate NVIDIA's revenue growth for the foreseeable future. High valuation and the possibility of new technology may challenge NVIDIA, but they hold massive resources which should enable them to handle these threats. Overall, I expect 10-20% return in the long run.","news_type":1},"isVote":1,"tweetType":1,"viewCount":693,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172985927,"gmtCreate":1626927477769,"gmtModify":1703480761628,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Recovery play","listText":"Recovery play","text":"Recovery play","images":[{"img":"https://static.tigerbbs.com/59c0b58602b8c2e11411dfb5ec4d4c01","width":"1080","height":"3678"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/172985927","isVote":1,"tweetType":1,"viewCount":199,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":148908842,"gmtCreate":1625908786186,"gmtModify":1703750813490,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Bear to Bull?","listText":"Bear to Bull?","text":"Bear to Bull?","images":[{"img":"https://static.tigerbbs.com/8f707da8684f32ce30974b30f39ee7aa","width":"1080","height":"3629"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/148908842","isVote":1,"tweetType":1,"viewCount":109,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":169362461,"gmtCreate":1623817550553,"gmtModify":1703820412103,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Bubble?","listText":"Bubble?","text":"Bubble?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/169362461","repostId":"1182315358","repostType":4,"repost":{"id":"1182315358","kind":"news","pubTimestamp":1623814338,"share":"https://ttm.financial/m/news/1182315358?lang=&edition=fundamental","pubTime":"2021-06-16 11:32","market":"us","language":"en","title":"It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1182315358","media":"MarketWatch","summary":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn","content":"<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/724d1ea0bb18bddb367c79abf08c1af9\" tg-width=\"1260\" tg-height=\"841\"><span>It takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)</span></p>\n<p>I don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.</p>\n<p>After 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.</p>\n<p>Maybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.</p>\n<p>But I simply don’t think that’s the most likely outcome.</p>\n<p>And if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.</p>\n<p>I’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.</p>\n<p>Trading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how&nbsp;good analysis starts with empathy.</p>\n<p><b>If I’m selling, who’s buying — and why?</b></p>\n<p>So let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference&nbsp;in Abu Dhabi and everybody was desperate for returns:</p>\n<p>Amid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”</p>\n<p>Since that post, back a year and a half ago, Slack&nbsp;went from $21 to being bought out at $45, Twitter&nbsp;went from $27 to $61, and Tesla&nbsp;went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.</p>\n<p>And now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by&nbsp;23-year-old TikTok influencers&nbsp;doing bitcoin&nbsp;trading astrology.</p>\n<p>Yes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.”&nbsp;Bearish anecdotes everywhere I look, as I wrote recently.</p>\n<p><b>Mr. Market</b></p>\n<p>The other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.</p>\n<p>Mr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.</p>\n<p>Sometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average&nbsp;up 400% from the 1921 lows to the 1929 highs.</p>\n<p><img src=\"https://static.tigerbbs.com/3a6516337aacc614d83584ea90e174f2\" tg-width=\"1260\" tg-height=\"870\"></p>\n<p><b>Learning from Soros</b></p>\n<p>But looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,<i>and</i>the economy crashed because the markets shut down access to capital for investment and growth.</p>\n<p>It was “reflexive,” to borrow a term from the great hedge fund manager&nbsp;George Soros.</p>\n<p>He wrote, and the concept is important to understand:</p>\n<p>“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…</p>\n<p>“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…</p>\n<p>“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…</p>\n<p>“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”</p>\n<p>Stay flexible</p>\n<p>Far-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.</p>\n<p>We don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.</p>\n<p>It’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.</p>\n<p>Most traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.</p>\n<p>We are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.</p>\n<p>I spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.</p>\n<p>As a matter of fact,&nbsp;I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks</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\">\nIt’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 11:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what...</p>\n\n<a href=\"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182315358","content_text":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.\nAfter 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.\nMaybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.\nBut I simply don’t think that’s the most likely outcome.\nAnd if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.\nI’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.\nTrading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how good analysis starts with empathy.\nIf I’m selling, who’s buying — and why?\nSo let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference in Abu Dhabi and everybody was desperate for returns:\nAmid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”\nSince that post, back a year and a half ago, Slack went from $21 to being bought out at $45, Twitter went from $27 to $61, and Tesla went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.\nAnd now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by 23-year-old TikTok influencers doing bitcoin trading astrology.\nYes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.” Bearish anecdotes everywhere I look, as I wrote recently.\nMr. Market\nThe other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.\nMr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.\nSometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average up 400% from the 1921 lows to the 1929 highs.\n\nLearning from Soros\nBut looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,andthe economy crashed because the markets shut down access to capital for investment and growth.\nIt was “reflexive,” to borrow a term from the great hedge fund manager George Soros.\nHe wrote, and the concept is important to understand:\n“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…\n“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…\n“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…\n“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”\nStay flexible\nFar-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.\nWe don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.\nIt’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.\nMost traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.\nWe are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.\nI spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.\nAs a matter of fact, I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?","news_type":1},"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576883299034662","authorId":"3576883299034662","name":"Yyangg","avatar":"https://static.tigerbbs.com/74cbe0d51c849a822760af8bc2dd6068","crmLevel":5,"crmLevelSwitch":0,"idStr":"3576883299034662","authorIdStr":"3576883299034662"},"content":"@ agoyagiBubble","text":"@ agoyagiBubble","html":"@ agoyagiBubble"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139033064,"gmtCreate":1621572413558,"gmtModify":1704359892962,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/139033064","repostId":"1161150268","repostType":4,"repost":{"id":"1161150268","kind":"news","pubTimestamp":1621565435,"share":"https://ttm.financial/m/news/1161150268?lang=&edition=fundamental","pubTime":"2021-05-21 10:50","market":"us","language":"en","title":"Why the future for Microsoft, Amazon, Google, Apple and other pricey growth stocks isn’t so bright","url":"https://stock-news.laohu8.com/highlight/detail?id=1161150268","media":"MarketWatch","summary":"It will be virtually impossible for some of the U.S. stock market’s largest companies to grow fast enough to justify their current valuations.Deluard used these extremely generous assumptions because they apply to the so-called MAGA stocks . Those four companies’ revenues have grown at a 26% annualized pace, on average, over the past 17 years, and their average current price-to-sales ratio is 6.4.Using a discount rate of 10% to calculate the present value of what these 351 companies would be wor","content":"<p>It will be virtually impossible for some of the U.S. stock market’s largest companies to grow fast enough to justify their current valuations.</p><p>That’s the conclusion reached by a recent study conducted by Vincent Deluard, head of global macro strategy at investment firm StoneX. His argument isn’t just that certain large-cap growth companies are trading on the assumption their revenues will grow at improbably fast rates. He adds that even if a given company does grow at a fast-enough pace, it soon would be larger than the market as a whole. In that case “valuations are mathematically impossible.”</p><p>There are limits to growth, in other words. As John Maynard Keynes put it a century ago: trees don’t grow to the sky.</p><p>To illustrate, Deluard analyzed the 351 companies within the Russell 3000 index&nbsp;that trade for more than 10 times sales. That’s much higher than the market as a whole; the S&amp;P 500’s&nbsp;price-to-sales ratio is 3.0. Deluard generously assumed that these companies’ revenue will grow by a factor of 54 over the next 17 years —equivalent to 26% annualized. He further assumed that, at the end of those 17 years, their price-to-sales ratios would be 6.4-to-1.</p><p>Deluard used these extremely generous assumptions because they apply to the so-called MAGA stocks (Microsoft,Apple,Alphabet’s Google&nbsp;and Amazon.com). Those four companies’ revenues have grown at a 26% annualized pace, on average, over the past 17 years, and their average current price-to-sales ratio is 6.4.</p><p>Using a discount rate of 10% to calculate the present value of what these 351 companies would be worth in 2038 under his assumptions, Deluard found that 59 of them already have higher market caps. In other words, “the market currently expects that almost 60 companies will be more successful [over the next 17 years] than Microsoft, Apple, Google and Amazon [have been over the last 17].”</p><p>Given the&nbsp;increasingly “winner-take-all” U.S. economy, it is in fact most unlikely that there will be many MAGA-like stocks in 2038. After all, the four current MAGA stocks represent around 20% of the total market cap of the S&amp;P 500. These 59 emerging MAGA stocks’ combined market cap in 2038 would therefore be larger than the overall market under any realistic assumptions of the equity market’s performance over the next 17 years.</p><p><b>How realistic are Deluard’s assumptions?</b></p><p>Deluard’s assumptions are generous, but he himself does not think they are realistic, I hasten to add. His point is that, even with them, it’s hard to justify the valuations of many of today’s high-flying growth stocks.</p><p>One way he illustrates how unrealistic his assumptions are is to calculate how many years it will take the MAGA stocks to “grow into their valuations.” Take Microsoft, for example, which currently trades at a price-to-sales ratio (PSR) of nearly 12-to-1. Eventually, of course, the company’s PSR will converge with that of the overall market (currently with a PSR of 3.0), since otherwise the company would have to grow so fast as to become almost as large as the market itself (if not larger).</p><p>Deluard calculates the number of years it will take for this convergence to take place, even with the generous assumption that Microsoft’s revenue grows for the foreseeable future at the same pace it has for the last five years. Even if its stock price goes nowhere, he reports, this convergence will take 17 years.</p><p>The analogy Deluard draws is to the so-called Nifty Fifty stocks of the early 1970s. They were the high-flying blue-chip stocks that became so popular that their P/E ratios at the top of the bull market in late 1972 were, on average, double that of the overall market. Though their revenue continued to grow at a fast pace in subsequent years, their extreme overvaluation meant that their stock prices still went nowhere or declined for years thereafter.</p><p>Another analogy is to Cisco Systems&nbsp;stock at the top of the late 1990s internet bubble, when it briefly was the most valuable stock in the world. Since then the company’s sales have grown at more than twice the rate of the average S&amp;P 500 company. And yet, despite this impressive growth, the company’s stock today is well below where it stood then. Deluard believes that a similar fate faces not just the MAGA stocks, but also the U.S. market’s many other extremely overvalued growth stocks.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why the future for Microsoft, Amazon, Google, Apple and other pricey growth stocks isn’t so bright</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy the future for Microsoft, Amazon, Google, Apple and other pricey growth stocks isn’t so bright\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-21 10:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/why-the-future-for-microsoft-amazon-google-apple-and-other-pricey-growth-stocks-isnt-so-bright-11621462054?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It will be virtually impossible for some of the U.S. stock market’s largest companies to grow fast enough to justify their current valuations.That’s the conclusion reached by a recent study conducted ...</p>\n\n<a href=\"https://www.marketwatch.com/story/why-the-future-for-microsoft-amazon-google-apple-and-other-pricey-growth-stocks-isnt-so-bright-11621462054?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","GOOGL":"谷歌A",".DJI":"道琼斯","MSFT":"微软",".IXIC":"NASDAQ Composite","AMZN":"亚马逊","AAPL":"苹果",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/why-the-future-for-microsoft-amazon-google-apple-and-other-pricey-growth-stocks-isnt-so-bright-11621462054?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161150268","content_text":"It will be virtually impossible for some of the U.S. stock market’s largest companies to grow fast enough to justify their current valuations.That’s the conclusion reached by a recent study conducted by Vincent Deluard, head of global macro strategy at investment firm StoneX. His argument isn’t just that certain large-cap growth companies are trading on the assumption their revenues will grow at improbably fast rates. He adds that even if a given company does grow at a fast-enough pace, it soon would be larger than the market as a whole. In that case “valuations are mathematically impossible.”There are limits to growth, in other words. As John Maynard Keynes put it a century ago: trees don’t grow to the sky.To illustrate, Deluard analyzed the 351 companies within the Russell 3000 index that trade for more than 10 times sales. That’s much higher than the market as a whole; the S&P 500’s price-to-sales ratio is 3.0. Deluard generously assumed that these companies’ revenue will grow by a factor of 54 over the next 17 years —equivalent to 26% annualized. He further assumed that, at the end of those 17 years, their price-to-sales ratios would be 6.4-to-1.Deluard used these extremely generous assumptions because they apply to the so-called MAGA stocks (Microsoft,Apple,Alphabet’s Google and Amazon.com). Those four companies’ revenues have grown at a 26% annualized pace, on average, over the past 17 years, and their average current price-to-sales ratio is 6.4.Using a discount rate of 10% to calculate the present value of what these 351 companies would be worth in 2038 under his assumptions, Deluard found that 59 of them already have higher market caps. In other words, “the market currently expects that almost 60 companies will be more successful [over the next 17 years] than Microsoft, Apple, Google and Amazon [have been over the last 17].”Given the increasingly “winner-take-all” U.S. economy, it is in fact most unlikely that there will be many MAGA-like stocks in 2038. After all, the four current MAGA stocks represent around 20% of the total market cap of the S&P 500. These 59 emerging MAGA stocks’ combined market cap in 2038 would therefore be larger than the overall market under any realistic assumptions of the equity market’s performance over the next 17 years.How realistic are Deluard’s assumptions?Deluard’s assumptions are generous, but he himself does not think they are realistic, I hasten to add. His point is that, even with them, it’s hard to justify the valuations of many of today’s high-flying growth stocks.One way he illustrates how unrealistic his assumptions are is to calculate how many years it will take the MAGA stocks to “grow into their valuations.” Take Microsoft, for example, which currently trades at a price-to-sales ratio (PSR) of nearly 12-to-1. Eventually, of course, the company’s PSR will converge with that of the overall market (currently with a PSR of 3.0), since otherwise the company would have to grow so fast as to become almost as large as the market itself (if not larger).Deluard calculates the number of years it will take for this convergence to take place, even with the generous assumption that Microsoft’s revenue grows for the foreseeable future at the same pace it has for the last five years. Even if its stock price goes nowhere, he reports, this convergence will take 17 years.The analogy Deluard draws is to the so-called Nifty Fifty stocks of the early 1970s. They were the high-flying blue-chip stocks that became so popular that their P/E ratios at the top of the bull market in late 1972 were, on average, double that of the overall market. Though their revenue continued to grow at a fast pace in subsequent years, their extreme overvaluation meant that their stock prices still went nowhere or declined for years thereafter.Another analogy is to Cisco Systems stock at the top of the late 1990s internet bubble, when it briefly was the most valuable stock in the world. Since then the company’s sales have grown at more than twice the rate of the average S&P 500 company. And yet, despite this impressive growth, the company’s stock today is well below where it stood then. Deluard believes that a similar fate faces not just the MAGA stocks, but also the U.S. market’s many other extremely overvalued growth stocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":69,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178511258,"gmtCreate":1626827169274,"gmtModify":1703765869741,"author":{"id":"3579932425739623","authorId":"3579932425739623","name":"agoyagi","avatar":"https://static.tigerbbs.com/8c802b858e86a9cfcdcb5fd68fc241c9","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579932425739623","authorIdStr":"3579932425739623"},"themes":[],"htmlText":"SG banks stock are back in focus. All eyes on the lifting of dividend cap.","listText":"SG banks stock are back in focus. All eyes on the lifting of dividend cap.","text":"SG banks stock are back in focus. All eyes on the lifting of dividend cap.","images":[{"img":"https://static.tigerbbs.com/390672375dce0f5ffeb516039294bb01","width":"1080","height":"3678"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/178511258","isVote":1,"tweetType":1,"viewCount":207,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}