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2021-05-08

Now is the time [Lovely]

Amazon: The Most Clearly Undervalued Company

2021-05-06

[Surprised]

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2021-05-06

[Observation]

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2021-05-03

“Today I buy what others won't, so tomorrow I earn returns others can't."- Paraphrase of Jerry Rice[Thinking]

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2021-05-03

Way to go Gojek [Strong]

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2021-05-03

Pray for India [Comfort]

Pfizer in talks with India over expedited approval for COVID-19 vaccine

2021-04-30

I love tiktok [Happy]

TikTok names ByteDance CFO Shouzi Chew as new CEO

2021-04-29

Buy when it’s low [Surprised]

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2021-04-28

Wow great[Wow]

Apple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.

2021-04-26

Always bright with Google[Cool]

Google’s earnings expected to be bright despite dark antitrust clouds

2021-04-25

[Miser]

15 Best Stocks in the Past Week: NIO and IBM Shares Climb

Go to Tiger App to see more news

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But I think this is not even a basic scenario, but a pessimistic scenario.</li></ul><p>I present my comprehensive Amazon (AMZN) analysis in light of the results of the last quarter.</p><p>#1 Price vs. Growth</p><p>First of all, let's assess whether we can statistically state that Amazon's growth has accelerated or slowed down in the last quarter. To do this, let's compare the revenue growth trends of the key segments of the company with and without the results of the last four quarters.</p><p>The dynamics of the 'Online Stores' segment showed a qualitative breakthrough. Without taking into account the last four quarters, a near-linear trend was observed here. Now, it has become exponential:</p><p><img src=\"https://static.tigerbbs.com/bac49a9df0e5b978dc15e20bedfce3da\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><i>Source: VisualizedAnalytics.com</i></p><p>The 'Third-Party Seller Services' segment - the exponential growth continues:</p><p><img src=\"https://static.tigerbbs.com/6b58df42726bc01c8a5e5c2940d0476d\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><i>Source: VisualizedAnalytics.com</i></p><p>The 'Subscription Services' (Amazon Prime) segment - here the acceleration remains, and the result of the last quarter was better than the trend:</p><p><i>Source: VisualizedAnalytics.com</i></p><p>The 'Other' (advertising services) segment has also showed a significant acceleration:<img src=\"https://static.tigerbbs.com/a58095394bdd79d561166a74942a9e55\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><i>Source: VisualizedAnalytics.com</i></p><p>The growth trend of 'Amazon Web Services' has slowed down, but judging by the results of the last quarter, there is a gradual return to the previous trend:</p><p><img src=\"https://static.tigerbbs.com/07069ccaab37c32eed56da69881e7bce\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p>Geographically, Amazon's revenue was also significantly better than the trend:</p><p><img src=\"https://static.tigerbbs.com/a1d9246e5c01aac6c62e49ad7cd73e2c\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/0e7276161a3d2b2159ab3d727d3cb7d9\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><i>So, statistically, not subjectively, we should recognize the acceleration of the company's growth</i><i><b>in all key segments</b></i><i>. In my opinion, this is exactly what is expected from Amazon.</i></p><p>Further. Over the last 10 years, Amazon's capitalization has been in a qualitative linear relationship with its revenue:</p><p><img src=\"https://static.tigerbbs.com/f105c314902d29dae4d0f0e400aa2245\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><i>Source: VisualizedAnalytics.com</i></p><p>There is also a certain influence of the company's revenue growth rate on its multiples:</p><p><img src=\"https://static.tigerbbs.com/8beca01b5624a15aab79465c580ded6b\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><i>Source: VisualizedAnalytics.com</i></p><p>Based on these two relationships and taking into account the influence of the growth of theM2 money stockin the US, it is possible to build another model that allows us to determine the balanced level of the company's capitalization. In addition, this model allows to model the growth of the company's capitalization based on the current expectations of analysts regarding the company's revenue growth in the next four quarters. Here is this model:</p><p><img src=\"https://static.tigerbbs.com/083fa1dc350e5e54cc7d3145744c9e4c\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d63f0cff5e0dd83343d26ee90552a033\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><i>Source: VisualizedAnalytics.com</i></p><p><i>As you can see, firstly, this model indicates that the company's current price is already</i><i><b>below the balanced level</b></i><i>. And secondly, it assumes a</i><i><b>25% growth</b></i><i>in capitalization in the next four quarters.</i></p><p>#2 Comparative Valuation</p><p>In the previous block, I modeled Amazon's balanced price based on revenue. What is remarkable is that if we apply the same approach to the comparative valuation of the company using multiples, we will fail. At least I have not been able to find a single revenue-based multiple that would make it possible to successfully compare Amazon to other companies. But the forward P/E (next FY) multiple adjusted by the expected EPS annual growth rate made it possible to find a suitable model:</p><p><img src=\"https://static.tigerbbs.com/97ac0310bcef622e12c8c21d46979f7e\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8d7573ff8a7fc00719a51042f09fc989\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><i>As you can see, judging by this multiple, Amazon is significantly undervalued.</i></p><p>#3 Discounted Cash Flow Model</p><p>When predicting Amazon's revenue for the next decade, I proceeded from the average expectations ofanalysts:</p><p><img src=\"https://static.tigerbbs.com/9f41298db73dbcd92469026cc4e767c4\" tg-width=\"640\" tg-height=\"323\" referrerpolicy=\"no-referrer\"><i>Source: Seeking Alpha Pro</i></p><p>When predicting the dynamics of Amazon's operating margin, I also proceeded from analysts'expectationsregarding the growth of the company's EPS, and taking into account the gradual increase in the tax rate to 25%. In my opinion, a gradual increase in the operating margin to 8% in the terminal year is a very realistic scenario.</p><p>Here is the calculation of the Weighted Average Cost of Capital:</p><p><img src=\"https://static.tigerbbs.com/759163398701e54efd7cfabd11a0867d\" tg-width=\"480\" tg-height=\"374\" referrerpolicy=\"no-referrer\"><i>Source: Author</i></p><p>Some explanations:</p><ul><li>In order to calculate the market rate of return, I used values of equityriskpremium (4.72%) and the current yield of UST10 as a risk-free rate (1.6%).</li><li>I used the currentvalueof the three-year beta coefficient (0.92). For the terminal year, I used Beta equal to 1.</li><li>To calculate the Cost of Debt, I used the interest expense for 2019 and 2020 divided by the debt value for the same years.</li></ul><p>Here is the model itself:</p><p><img src=\"https://static.tigerbbs.com/0df02bca01b3ef74d3b640d95eb00590\" tg-width=\"640\" tg-height=\"528\" referrerpolicy=\"no-referrer\">(In high resolution)</p><p><i>Source: Author</i></p><p><i>The DCF-based target price of Amazon's shares is $4,280, offering 29% upside.</i></p><p>Final thoughts</p><ol><li>Amazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase. In a sense, this is a startup with $73 billion cash.</li><li>The fact that Amazon remains in the acceleration phase does not mean that its capitalization is constantly undervalued. But in this case, based on the patterns between the company's capitalization and the parameters of its revenue, we can conclude that the company is<b>undervalued</b>.</li><li>Comparing Amazon to other companies through the prism of expected EPS growth, it must be admitted that the company is<b>much cheaper</b>than the market.</li><li>DCF model based on average expectations analysts indicate a 30% undervaluation. At the start of the year, a similarmodelindicated a 20% undervaluation.</li><li>When you look at Amazon's revenue forecast for the next decade, you realize that the company will face growth problems. But in my opinion,<i>it is better to invest in a company facing growth problems than aging problems</i>.</li></ol>","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>Amazon: The Most Clearly Undervalued Company</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\">\nAmazon: The Most Clearly Undervalued Company\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-07 12:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4424794-amazon-clearly-undervalued-company><strong>Seeking alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAmazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase.In terms of comparative valuation, AMZN is undervalued against the market.DCF-...</p>\n\n<a href=\"https://seekingalpha.com/article/4424794-amazon-clearly-undervalued-company\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://seekingalpha.com/article/4424794-amazon-clearly-undervalued-company","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157328258","content_text":"SummaryAmazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase.In terms of comparative valuation, AMZN is undervalued against the market.DCF-based Amazon stock price target suggests 30% upside potential. But I think this is not even a basic scenario, but a pessimistic scenario.I present my comprehensive Amazon (AMZN) analysis in light of the results of the last quarter.#1 Price vs. GrowthFirst of all, let's assess whether we can statistically state that Amazon's growth has accelerated or slowed down in the last quarter. To do this, let's compare the revenue growth trends of the key segments of the company with and without the results of the last four quarters.The dynamics of the 'Online Stores' segment showed a qualitative breakthrough. Without taking into account the last four quarters, a near-linear trend was observed here. Now, it has become exponential:Source: VisualizedAnalytics.comThe 'Third-Party Seller Services' segment - the exponential growth continues:Source: VisualizedAnalytics.comThe 'Subscription Services' (Amazon Prime) segment - here the acceleration remains, and the result of the last quarter was better than the trend:Source: VisualizedAnalytics.comThe 'Other' (advertising services) segment has also showed a significant acceleration:Source: VisualizedAnalytics.comThe growth trend of 'Amazon Web Services' has slowed down, but judging by the results of the last quarter, there is a gradual return to the previous trend:Source: VisualizedAnalytics.comGeographically, Amazon's revenue was also significantly better than the trend:Source: VisualizedAnalytics.comSo, statistically, not subjectively, we should recognize the acceleration of the company's growthin all key segments. In my opinion, this is exactly what is expected from Amazon.Further. Over the last 10 years, Amazon's capitalization has been in a qualitative linear relationship with its revenue:Source: VisualizedAnalytics.comThere is also a certain influence of the company's revenue growth rate on its multiples:Source: VisualizedAnalytics.comBased on these two relationships and taking into account the influence of the growth of theM2 money stockin the US, it is possible to build another model that allows us to determine the balanced level of the company's capitalization. In addition, this model allows to model the growth of the company's capitalization based on the current expectations of analysts regarding the company's revenue growth in the next four quarters. Here is this model:Source: VisualizedAnalytics.comAs you can see, firstly, this model indicates that the company's current price is alreadybelow the balanced level. And secondly, it assumes a25% growthin capitalization in the next four quarters.#2 Comparative ValuationIn the previous block, I modeled Amazon's balanced price based on revenue. What is remarkable is that if we apply the same approach to the comparative valuation of the company using multiples, we will fail. At least I have not been able to find a single revenue-based multiple that would make it possible to successfully compare Amazon to other companies. But the forward P/E (next FY) multiple adjusted by the expected EPS annual growth rate made it possible to find a suitable model:Source: VisualizedAnalytics.comAs you can see, judging by this multiple, Amazon is significantly undervalued.#3 Discounted Cash Flow ModelWhen predicting Amazon's revenue for the next decade, I proceeded from the average expectations ofanalysts:Source: Seeking Alpha ProWhen predicting the dynamics of Amazon's operating margin, I also proceeded from analysts'expectationsregarding the growth of the company's EPS, and taking into account the gradual increase in the tax rate to 25%. In my opinion, a gradual increase in the operating margin to 8% in the terminal year is a very realistic scenario.Here is the calculation of the Weighted Average Cost of Capital:Source: AuthorSome explanations:In order to calculate the market rate of return, I used values of equityriskpremium (4.72%) and the current yield of UST10 as a risk-free rate (1.6%).I used the currentvalueof the three-year beta coefficient (0.92). For the terminal year, I used Beta equal to 1.To calculate the Cost of Debt, I used the interest expense for 2019 and 2020 divided by the debt value for the same years.Here is the model itself:(In high resolution)Source: AuthorThe DCF-based target price of Amazon's shares is $4,280, offering 29% upside.Final thoughtsAmazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase. In a sense, this is a startup with $73 billion cash.The fact that Amazon remains in the acceleration phase does not mean that its capitalization is constantly undervalued. But in this case, based on the patterns between the company's capitalization and the parameters of its revenue, we can conclude that the company isundervalued.Comparing Amazon to other companies through the prism of expected EPS growth, it must be admitted that the company ismuch cheaperthan the market.DCF model based on average expectations analysts indicate a 30% undervaluation. At the start of the year, a similarmodelindicated a 20% undervaluation.When you look at Amazon's revenue forecast for the next decade, you realize that the company will face growth problems. But in my opinion,it is better to invest in a company facing growth problems than aging problems.","news_type":1},"isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":105672219,"gmtCreate":1620302561931,"gmtModify":1704341595979,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"[Surprised]&nbsp;","listText":"[Surprised]&nbsp;","text":"[Surprised]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105672219","repostId":"1178617117","repostType":4,"isVote":1,"tweetType":1,"viewCount":213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":105676236,"gmtCreate":1620302491325,"gmtModify":1704341594688,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"[Observation]&nbsp;","listText":"[Observation]&nbsp;","text":"[Observation]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105676236","repostId":"1164751331","repostType":4,"isVote":1,"tweetType":1,"viewCount":248,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108677615,"gmtCreate":1620025326737,"gmtModify":1704337541164,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"“Today I buy what others won't, so tomorrow I earn returns others can't.\"- Paraphrase of Jerry Rice[Thinking]&nbsp;","listText":"“Today I buy what others won't, so tomorrow I earn returns others can't.\"- Paraphrase of Jerry Rice[Thinking]&nbsp;","text":"“Today I buy what others won't, so tomorrow I earn returns others can't.\"- Paraphrase of Jerry Rice[Thinking]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/108677615","repostId":"1121605010","repostType":4,"isVote":1,"tweetType":1,"viewCount":116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108677038,"gmtCreate":1620025225624,"gmtModify":1704337540036,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"Way to go Gojek [Strong]&nbsp;","listText":"Way to go Gojek [Strong]&nbsp;","text":"Way to go Gojek [Strong]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/108677038","repostId":"1103024418","repostType":4,"isVote":1,"tweetType":1,"viewCount":317,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108674167,"gmtCreate":1620025151759,"gmtModify":1704337538909,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"Pray for India [Comfort]&nbsp;","listText":"Pray for India [Comfort]&nbsp;","text":"Pray for India [Comfort]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/108674167","repostId":"2132913565","repostType":4,"repost":{"id":"2132913565","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1620023524,"share":"https://ttm.financial/m/news/2132913565?lang=&edition=fundamental","pubTime":"2021-05-03 14:32","market":"us","language":"en","title":"Pfizer in talks with India over expedited approval for COVID-19 vaccine","url":"https://stock-news.laohu8.com/highlight/detail?id=2132913565","media":"Reuters","summary":"NEW DELHI, May 3 (Reuters) - Pfizer is in discussions with the Indian government seeking an \"expedit","content":"<p>NEW DELHI, May 3 (Reuters) - Pfizer is in discussions with the Indian government seeking an \"expedited approval pathway\" for its COVID-19 vaccine, its CEO Albert Bourla said on LinkedIn on Monday, announcing a donation of medicines worth more than $70 million.</p><p>\"Unfortunately, our vaccine is not registered in India although our application was submitted months ago,\" he said.</p><p>\"We are currently discussing with the Indian government an expedited approval pathway to make our Pfizer-BioNTech vaccine available for use in the country.\"</p><p>(Reporting by Krishna N. 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Das; Editing by Tom Hogue)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PFE":"辉瑞"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2132913565","content_text":"NEW DELHI, May 3 (Reuters) - Pfizer is in discussions with the Indian government seeking an \"expedited approval pathway\" for its COVID-19 vaccine, its CEO Albert Bourla said on LinkedIn on Monday, announcing a donation of medicines worth more than $70 million.\"Unfortunately, our vaccine is not registered in India although our application was submitted months ago,\" he said.\"We are currently discussing with the Indian government an expedited approval pathway to make our Pfizer-BioNTech vaccine available for use in the country.\"(Reporting by Krishna N. Das; Editing by Tom Hogue)","news_type":1},"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103539832,"gmtCreate":1619792422326,"gmtModify":1704272463214,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"I love tiktok [Happy]&nbsp;","listText":"I love tiktok [Happy]&nbsp;","text":"I love tiktok [Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/103539832","repostId":"1152594140","repostType":4,"repost":{"id":"1152594140","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1619791880,"share":"https://ttm.financial/m/news/1152594140?lang=&edition=fundamental","pubTime":"2021-04-30 22:11","market":"us","language":"en","title":"TikTok names ByteDance CFO Shouzi Chew as new CEO","url":"https://stock-news.laohu8.com/highlight/detail?id=1152594140","media":"Reuters","summary":"TikTok appointed Shouzi Chew, a Singaporean national, as the new Chief Executive Officer of the hot ","content":"<p>TikTok appointed Shouzi Chew, a Singaporean national, as the new Chief Executive Officer of the hot video-sharing platform, the company said on Friday.</p>\n<p>Chew, who is based in Singapore and was named CFO of TikTok parent company ByteDance in March this year, will continue in that role.</p>\n<p>TikTok’s interim head Vanessa Pappas, based in Los Angeles, will be the new Chief Operating Officer.</p>\n<p>Chew had served as Xiaomi’s chief financial officer from 2015 to 2020, and ran its international business for a year.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>TikTok names ByteDance CFO Shouzi Chew as new CEO</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\">\nTikTok names ByteDance CFO Shouzi Chew as new CEO\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-04-30 22:11</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>TikTok appointed Shouzi Chew, a Singaporean national, as the new Chief Executive Officer of the hot video-sharing platform, the company said on Friday.</p>\n<p>Chew, who is based in Singapore and was named CFO of TikTok parent company ByteDance in March this year, will continue in that role.</p>\n<p>TikTok’s interim head Vanessa Pappas, based in Los Angeles, will be the new Chief Operating Officer.</p>\n<p>Chew had served as Xiaomi’s chief financial officer from 2015 to 2020, and ran its international business for a year.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152594140","content_text":"TikTok appointed Shouzi Chew, a Singaporean national, as the new Chief Executive Officer of the hot video-sharing platform, the company said on Friday.\nChew, who is based in Singapore and was named CFO of TikTok parent company ByteDance in March this year, will continue in that role.\nTikTok’s interim head Vanessa Pappas, based in Los Angeles, will be the new Chief Operating Officer.\nChew had served as Xiaomi’s chief financial officer from 2015 to 2020, and ran its international business for a year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":248,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109257604,"gmtCreate":1619702344208,"gmtModify":1704728256372,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"Buy when it’s low [Surprised]&nbsp;","listText":"Buy when it’s low [Surprised]&nbsp;","text":"Buy when it’s low [Surprised]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/109257604","repostId":"1117027267","repostType":4,"isVote":1,"tweetType":1,"viewCount":285,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576445214043888","authorId":"3576445214043888","name":"Lingclass","avatar":"https://static.tigerbbs.com/950af8fc59792b26f3c6dc5e2b211022","crmLevel":1,"crmLevelSwitch":0,"idStr":"3576445214043888","authorIdStr":"3576445214043888"},"content":"Yes yes! Hahaha","text":"Yes yes! Hahaha","html":"Yes yes! Hahaha"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100646856,"gmtCreate":1619613018175,"gmtModify":1704726776414,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"Wow great[Wow]&nbsp;","listText":"Wow great[Wow]&nbsp;","text":"Wow great[Wow]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/100646856","repostId":"1179396069","repostType":4,"repost":{"id":"1179396069","pubTimestamp":1619573853,"share":"https://ttm.financial/m/news/1179396069?lang=&edition=fundamental","pubTime":"2021-04-28 09:37","market":"us","language":"en","title":"Apple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.","url":"https://stock-news.laohu8.com/highlight/detail?id=1179396069","media":"Barrons","summary":"Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech g","content":"<p>Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech giant just might be able to pull it off.</p>\n<p>The buzz around Apple last year was off the charts, even for what is the buzziest of technology companies. Anticipation of the fall launch of the company’s first 5G phones, surging demand for both Macs and iPads as the pandemic rolled on, and strength in both wearables and services fed off each other. The pieces all came together in the December quarter, when Apple (ticker: AAPL) posted&nbsp;its biggest quarter ever. Sales soared 21% to $111.4 billion, more than $8 billion over the Street consensus. Every product category—iPhone, iPad, Macs, wearables, and services—notched double-digit growth. Apple stock finished the year up 81%, adding nearly $1 trillion to its market cap.</p>\n<p>That’s a tough act to follow, particularly with the March quarter, which always slows from the holiday-boosted December quarter. But Apple could pull off the quintuple double again when its results come out after the bell Wednesday. The Street certainly thinks so, even if the market, which has pushed Apple shares up less than 2% in 2021, has been more cautious. Consensus estimates call for double-digit increases from last year across the board: iPhones sales up 43%, to $41.4 billion; iPad sales up 29%, to $5.6 billion; Mac sales of $6.8 billion, up 27%; wearables sales (mostly Apple Watch and AirPods) of $7.4 billion, up 18%; and a 16% bump in services, to $15.5 billion.</p>\n<p>Overall, the Street consensus expects sales of $77 billion, up 32% from a year ago, with profits of 98 cents a share. That would be the fastest top-line growth rate for any Apple quarter since March 2012, when revenues were about half what they are now. And most bullish Apple analysts seem to think their own estimates are too low—a print at $77 billion would likely trigger a selloff in the stock.</p>\n<p>Apple is also&nbsp;expected to provide an update on its capital-allocation strategy. A year ago,the company announced a 6% dividend increase, and boosted its stock repurchase plan by $50 billion. Apple has said repeatedly that it is pushing to get to a cash neutral position, but its remarkably big cash flow has slowed progress toward that goal.</p>\n<p>As always, the quarter is about more than just earnings.</p>\n<p>For one, the Street will be looking for signs that the sales surge for Macs and iPads is sustainable—and that the company is keeping up with demand despite widespread chip and display shortages. Some investors worry that the spike in PC demand could ebb as more people return to schools and offices. They’ll be looking for company guidance on that point.</p>\n<p>Another is the sustainability of the resurgence in iPhone growth. There were high hopes among bulls that the iPhone 12 would drive a “supercycle” with an accelerated replacement cycle. Several analysts have noted that a clear consumer preference for the high end of the iPhone 12 line is driving up average selling prices, which should support a strong revenue quarter for the segment.</p>\n<p>“Given the later-than-seasonal launch of new iPhones in the fall of 2020, we believe iPhone demand will experience more favorable year-over-year comparisons this March quarter compared to past years,” writes Monness Crespi Hardt’s Brian White, who sees 47% iPhone revenue growth during the quarter.</p>\n<p>And if Apple pulls it all together? Apple could crush Street estimates, writes Morgan Stanley analyst Katy Huberty, who has an Overweight rating and a $158 price target on the stock, up 17% from Monday’s close of $134.72. She sees the top line above $80 billion, with all segments growing at least 19% year over year. She is especially bullish on Mac and iPad sales, with estimates far above consensus—53% for Macs and 52% for iPads. She also expects Apple to increase its dividend by 10% and expand its stock repurchase program by $60 billion.</p>\n<p>That would certainly qualify as a job well done.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-28 09:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/apple-could-blow-the-top-off-earningsagain-what-that-would-mean-for-the-stock-51619495288?mod=hp_DAY_Theme_1_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech giant just might be able to pull it off.\nThe buzz around Apple last year was off the charts, even for...</p>\n\n<a href=\"https://www.barrons.com/articles/apple-could-blow-the-top-off-earningsagain-what-that-would-mean-for-the-stock-51619495288?mod=hp_DAY_Theme_1_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/apple-could-blow-the-top-off-earningsagain-what-that-would-mean-for-the-stock-51619495288?mod=hp_DAY_Theme_1_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179396069","content_text":"Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech giant just might be able to pull it off.\nThe buzz around Apple last year was off the charts, even for what is the buzziest of technology companies. Anticipation of the fall launch of the company’s first 5G phones, surging demand for both Macs and iPads as the pandemic rolled on, and strength in both wearables and services fed off each other. The pieces all came together in the December quarter, when Apple (ticker: AAPL) posted its biggest quarter ever. Sales soared 21% to $111.4 billion, more than $8 billion over the Street consensus. Every product category—iPhone, iPad, Macs, wearables, and services—notched double-digit growth. Apple stock finished the year up 81%, adding nearly $1 trillion to its market cap.\nThat’s a tough act to follow, particularly with the March quarter, which always slows from the holiday-boosted December quarter. But Apple could pull off the quintuple double again when its results come out after the bell Wednesday. The Street certainly thinks so, even if the market, which has pushed Apple shares up less than 2% in 2021, has been more cautious. Consensus estimates call for double-digit increases from last year across the board: iPhones sales up 43%, to $41.4 billion; iPad sales up 29%, to $5.6 billion; Mac sales of $6.8 billion, up 27%; wearables sales (mostly Apple Watch and AirPods) of $7.4 billion, up 18%; and a 16% bump in services, to $15.5 billion.\nOverall, the Street consensus expects sales of $77 billion, up 32% from a year ago, with profits of 98 cents a share. That would be the fastest top-line growth rate for any Apple quarter since March 2012, when revenues were about half what they are now. And most bullish Apple analysts seem to think their own estimates are too low—a print at $77 billion would likely trigger a selloff in the stock.\nApple is also expected to provide an update on its capital-allocation strategy. A year ago,the company announced a 6% dividend increase, and boosted its stock repurchase plan by $50 billion. Apple has said repeatedly that it is pushing to get to a cash neutral position, but its remarkably big cash flow has slowed progress toward that goal.\nAs always, the quarter is about more than just earnings.\nFor one, the Street will be looking for signs that the sales surge for Macs and iPads is sustainable—and that the company is keeping up with demand despite widespread chip and display shortages. Some investors worry that the spike in PC demand could ebb as more people return to schools and offices. They’ll be looking for company guidance on that point.\nAnother is the sustainability of the resurgence in iPhone growth. There were high hopes among bulls that the iPhone 12 would drive a “supercycle” with an accelerated replacement cycle. Several analysts have noted that a clear consumer preference for the high end of the iPhone 12 line is driving up average selling prices, which should support a strong revenue quarter for the segment.\n“Given the later-than-seasonal launch of new iPhones in the fall of 2020, we believe iPhone demand will experience more favorable year-over-year comparisons this March quarter compared to past years,” writes Monness Crespi Hardt’s Brian White, who sees 47% iPhone revenue growth during the quarter.\nAnd if Apple pulls it all together? Apple could crush Street estimates, writes Morgan Stanley analyst Katy Huberty, who has an Overweight rating and a $158 price target on the stock, up 17% from Monday’s close of $134.72. She sees the top line above $80 billion, with all segments growing at least 19% year over year. She is especially bullish on Mac and iPad sales, with estimates far above consensus—53% for Macs and 52% for iPads. She also expects Apple to increase its dividend by 10% and expand its stock repurchase program by $60 billion.\nThat would certainly qualify as a job well done.","news_type":1},"isVote":1,"tweetType":1,"viewCount":194,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374936279,"gmtCreate":1619407596391,"gmtModify":1704723381237,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"Always bright with Google[Cool]&nbsp;","listText":"Always bright with Google[Cool]&nbsp;","text":"Always bright with Google[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/374936279","repostId":"2129363525","repostType":4,"repost":{"id":"2129363525","pubTimestamp":1619405602,"share":"https://ttm.financial/m/news/2129363525?lang=&edition=fundamental","pubTime":"2021-04-26 10:53","market":"us","language":"en","title":"Google’s earnings expected to be bright despite dark antitrust clouds","url":"https://stock-news.laohu8.com/highlight/detail?id=2129363525","media":"MarketWatch","summary":"Alphabet earnings preview: High expectations for ad revenue despite a spotlight from politicians, re","content":"<p>Alphabet earnings preview: High expectations for ad revenue despite a spotlight from politicians, regulators</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fae251d2be005856c211ec3fbd3cc78e\" tg-width=\"1260\" tg-height=\"840\"><span>Google parent Alphabet Inc. is scheduled to report first-quarter earnings on Tuesday afternoon. Getty Images</span></p>\n<p>When Google parent Alphabet Inc. reports first-quarter earnings on Tuesday, the bottom-line should be stout with advertising sales.</p>\n<p>The same can't be said for its prospects on the regulatory front.</p>\n<p>Alphabet <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a>(GOOGL) is expected to show revenue growth of roughly 25% from last year, when the COVID-19 pandemic caused some companies to immediately cut off their advertising budgets to preserve cash. The company's sales are largely dependent on sales of advertisements on its search engine, YouTube and other websites, which have made it dominant in the online-ads industry.</p>\n<p>That dominance has led to scrutiny, however. On Wednesday, Wilson White, senior director of public policy and government relations, became the latest Google executive to be roughed up by a congressional committee. Members of the Senate Judiciary's Subcommittee on Competition Policy, Antitrust, and Consumer Rights, as well as witnesses, roughed up Wilson and Apple's chief compliance officer over their company's respective app stores.</p>\n<p>Jared Sine, chief legal officer at Match Group Inc. <a href=\"https://laohu8.com/S/MTCH\">$(MTCH)$</a>, claimed Google called Match the night before his testimony became public to press why his testimony differed from Match's comments in its latest earnings call. Sen. Richard Blumenthal, D-Conn., quickly jumped on the call as \"potentially actionable.\"</p>\n<p>White deemed the call \"an honest question\" and didn't consider it a threat. \"We would never threaten our partners,\" he said, because they are the lifeblood of the Google Play app store.</p>\n<p>Still, the accusation by a developer and scolding from a politician manifested what has become a narrative over the past two years for Google: That it has engaged in anticompetitive business practices with its search business, leading to multiple lawsuits from the Justice Department and states , as well as investigations overseas.</p>\n<p>It hardly seems to matter, however, with advertising revenue on the rise for market leaders Google, <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc. (FB), Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> and others. Even Apple Inc. <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a> -- which is planning a change to its operating system seen as detrimental to ad-based revenue models .</p>\n<p><b>What to expect</b></p>\n<p>Earnings: Alphabet on average is expected to post earnings of $15.66 a share, up from $13.48 a share expected at the beginning of the quarter, based on 37 analysts surveyed by FactSet. Alphabet reported earnings of $9.87 a share in the same quarter a year ago. Estimize, a software platform that uses crowdsourcing from hedge-fund executives, brokerages, buy-side analysts and others, calls for earnings of $15.59 a share.</p>\n<p>Revenue: Wall Street expects revenue of $51.4 billion from Facebook, according to 30 analysts polled by FactSet. That's up from the $48.1 billion forecast at the beginning of the quarter and $41.2 billion reported a year ago. Traffic-acquisition costs are estimated at $9.1 billion, which would give Alphabet revenue of $43.1 billion when extracted; by that standard, Alphabet reported sales of $33.7 billion a year ago . Estimize expects revenue of $42.1 billion after removing traffic-acquisition costs.</p>\n<p>Stock movement: Alphabet stock has declined following three of the past seven earnings reports. The shares are up 31% in 2021, and 80% over the past 12 months, through Wednesday's close of market. By comparison, the broader S&amp;P 500 index has gained 11% and 47%, respectively.</p>\n<p><b>What analysts are saying</b></p>\n<p>Google's good fortunes reflect a rebounding ad market and spikes in search spending, Cowen analyst John Blackledge concluded in an April 14 note that hiked the company's price target to $2,600 from $2,400, while maintaining an outperform rating.</p>\n<p>Blackledge predicts Google search revenue will jump 45%, year-over-year, up from a 28% increase in the previous quarter.</p>\n<p>J.P. Morgan analyst Doug Anmuth rates Google as his top pick, and the next likely tech company to top $2 trillion in market value. (As of Friday, Alphabet was worth $1.5 trillion.)</p>\n<p>\"We remain positive on improving top &amp; bottom line trajectory andpotential for bigger capital returns,\" Anmuth said in an April 19 note. \"Google Search remains a sizable driver of value at 58% of our [sum of the parts evaluation], or more than $1T in value, with Google's next growth drivers YouTube &amp; Cloud representing 22% &amp; 14%.\"</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>Google’s earnings expected to be bright despite dark antitrust clouds</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\">\nGoogle’s earnings expected to be bright despite dark antitrust clouds\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-26 10:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/googles-earnings-expected-to-be-bright-despite-dark-antitrust-clouds-11619196893?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Alphabet earnings preview: High expectations for ad revenue despite a spotlight from politicians, regulators\nGoogle parent Alphabet Inc. is scheduled to report first-quarter earnings on Tuesday ...</p>\n\n<a href=\"https://www.marketwatch.com/story/googles-earnings-expected-to-be-bright-despite-dark-antitrust-clouds-11619196893?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":{"GOOGL":"谷歌A","GOOG":"谷歌"},"source_url":"https://www.marketwatch.com/story/googles-earnings-expected-to-be-bright-despite-dark-antitrust-clouds-11619196893?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129363525","content_text":"Alphabet earnings preview: High expectations for ad revenue despite a spotlight from politicians, regulators\nGoogle parent Alphabet Inc. is scheduled to report first-quarter earnings on Tuesday afternoon. Getty Images\nWhen Google parent Alphabet Inc. reports first-quarter earnings on Tuesday, the bottom-line should be stout with advertising sales.\nThe same can't be said for its prospects on the regulatory front.\nAlphabet $(GOOGL)$(GOOGL) is expected to show revenue growth of roughly 25% from last year, when the COVID-19 pandemic caused some companies to immediately cut off their advertising budgets to preserve cash. The company's sales are largely dependent on sales of advertisements on its search engine, YouTube and other websites, which have made it dominant in the online-ads industry.\nThat dominance has led to scrutiny, however. On Wednesday, Wilson White, senior director of public policy and government relations, became the latest Google executive to be roughed up by a congressional committee. Members of the Senate Judiciary's Subcommittee on Competition Policy, Antitrust, and Consumer Rights, as well as witnesses, roughed up Wilson and Apple's chief compliance officer over their company's respective app stores.\nJared Sine, chief legal officer at Match Group Inc. $(MTCH)$, claimed Google called Match the night before his testimony became public to press why his testimony differed from Match's comments in its latest earnings call. Sen. Richard Blumenthal, D-Conn., quickly jumped on the call as \"potentially actionable.\"\nWhite deemed the call \"an honest question\" and didn't consider it a threat. \"We would never threaten our partners,\" he said, because they are the lifeblood of the Google Play app store.\nStill, the accusation by a developer and scolding from a politician manifested what has become a narrative over the past two years for Google: That it has engaged in anticompetitive business practices with its search business, leading to multiple lawsuits from the Justice Department and states , as well as investigations overseas.\nIt hardly seems to matter, however, with advertising revenue on the rise for market leaders Google, Facebook Inc. (FB), Amazon.com Inc. $(AMZN)$ and others. Even Apple Inc. $(AAPL)$ -- which is planning a change to its operating system seen as detrimental to ad-based revenue models .\nWhat to expect\nEarnings: Alphabet on average is expected to post earnings of $15.66 a share, up from $13.48 a share expected at the beginning of the quarter, based on 37 analysts surveyed by FactSet. Alphabet reported earnings of $9.87 a share in the same quarter a year ago. Estimize, a software platform that uses crowdsourcing from hedge-fund executives, brokerages, buy-side analysts and others, calls for earnings of $15.59 a share.\nRevenue: Wall Street expects revenue of $51.4 billion from Facebook, according to 30 analysts polled by FactSet. That's up from the $48.1 billion forecast at the beginning of the quarter and $41.2 billion reported a year ago. Traffic-acquisition costs are estimated at $9.1 billion, which would give Alphabet revenue of $43.1 billion when extracted; by that standard, Alphabet reported sales of $33.7 billion a year ago . Estimize expects revenue of $42.1 billion after removing traffic-acquisition costs.\nStock movement: Alphabet stock has declined following three of the past seven earnings reports. The shares are up 31% in 2021, and 80% over the past 12 months, through Wednesday's close of market. By comparison, the broader S&P 500 index has gained 11% and 47%, respectively.\nWhat analysts are saying\nGoogle's good fortunes reflect a rebounding ad market and spikes in search spending, Cowen analyst John Blackledge concluded in an April 14 note that hiked the company's price target to $2,600 from $2,400, while maintaining an outperform rating.\nBlackledge predicts Google search revenue will jump 45%, year-over-year, up from a 28% increase in the previous quarter.\nJ.P. Morgan analyst Doug Anmuth rates Google as his top pick, and the next likely tech company to top $2 trillion in market value. (As of Friday, Alphabet was worth $1.5 trillion.)\n\"We remain positive on improving top & bottom line trajectory andpotential for bigger capital returns,\" Anmuth said in an April 19 note. \"Google Search remains a sizable driver of value at 58% of our [sum of the parts evaluation], or more than $1T in value, with Google's next growth drivers YouTube & Cloud representing 22% & 14%.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":214,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":375240211,"gmtCreate":1619353000633,"gmtModify":1704722777178,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"[Miser]&nbsp;","listText":"[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/375240211","repostId":"1189806458","repostType":4,"repost":{"id":"1189806458","pubTimestamp":1619337586,"share":"https://ttm.financial/m/news/1189806458?lang=&edition=fundamental","pubTime":"2021-04-25 15:59","market":"us","language":"en","title":"15 Best Stocks in the Past Week: NIO and IBM Shares Climb","url":"https://stock-news.laohu8.com/highlight/detail?id=1189806458","media":"thestreet","summary":"Stocks ended higher Friday to finish the week little changed as investors looked tostrong economic d","content":"<p>Stocks ended higher Friday to finish the week little changed as investors looked tostrong economic data and discounted a reportthat said President Joe Biden would propose raising capital gains taxes on wealthy investors.</p><p>Equities received a boost from data that indicated U.S. business output expanded the most on record in April, according to IHS Markit. New home sales in the U.S., meanwhile, rebounded in March to the highest levels since 2006.</p><p>The Dow Jones Industrial Average ended up 228 points, or 0.7%, at 34,043. The S&amp;P 500 rose 45.19, or 1.1%, to 4,180.70, missing a weekly gain by less than 6 points. The S&amp;P 500 snapped a four-week win streak. The Nasdaq finished up 1.44% at 14,06.81.</p><p>Here are some of the best stocks in the past week by their performance in percentage change at the close of trading on Apr. 23. These include stocks over a $10 share price at the time of publishing.</p><p>1. MicroVision | +62.92%</p><p>Jim Cramer, the founder of TheStreet, said this past week that MicroVision&nbsp;(<b>MVIS</b>) -Get Report&nbsp;is a battleground stock to avoid amind its surge. \"This is a battleground stock and you need to avoid battlegrounds,\" he said during the&nbsp;\"Mad Money Lightning Round.\"</p><p>MicroVision 'is essentially a science project that has gone nowhere after 25 years,'said short-seller Hindenburg Research in December.&nbsp;\"$1.2 billion market cap corporate husk,\"&nbsp;according to Hindenburg.</p><p>2. Equifax | +20.28%</p><p>Equifax&nbsp;(<b>EFX</b>) -Get Report&nbsp;was jumping this past week after the credit-reporting companybeat Wall Street's first-quarter earnings expectations, reported record revenue, and raised its 2021 revenue guidance. Shares of the Atlanta company were surging nearly 15% to $221.19.</p><p>Equifaxreported a net income of $201.6 million, or $1.64 a share, up from $116.9 million, or 95 cents a share, a year ago. Adjusted income attributable to Equifax was $1.97 a share, beating the FactSet consensus of $1.52.</p><p>3. Skillz Inc | +20.25%</p><p>Skillz&nbsp;(<b>SKLZ</b>) -Get Report&nbsp;shares rose sharply this past week after Jefferies initiated coverage of the mobile gaming company with a hold rating and a $17 price target.</p><p>Jefferies analyst Andrew Uerkwitzoffers high praise for Skillzbut is concerned about the stock's valuation. “We see Skillz building a differentiated, innovative platform for mobile gaming,” he wrote in a commentary.</p><p>4. Kansas City Southern | +17.13%</p><p>Kansas City Southern&nbsp;(<b>KSU</b>) -Get Report&nbsp;will enter potential merger talks with Canadian National, according to a published report Friday, raising the stakes in a brewing bidding war between Canadian National&nbsp;(<b>CNI</b>) -Get Report&nbsp;and Canadian Pacific&nbsp;(<b>CP</b>) -Get Report&nbsp;for the U.S. railroad and its links to the gulf coast.</p><p>Kansas City Southern is expected to declare CN’s recent $30 billion takeover bid superior to its previously agreed $25 billion buyout offer from Canadian Pacific, Bloomberg reported, citing people familiar with the matter.</p><p>5. Skechers | +15.80%</p><p>Skechers USA&nbsp;(<b>SKX</b>) -Get Report&nbsp;soared this past week and Morgan Stanley upgraded the footwear maker after itreported stronger-than-expected earnings in the first quarter.</p><p>Morgan Stanley analyst Kimberly Greenberger lifted her rating to overweight from equal weight and boosted the price target on the stock to $56 from $44. She was impressed with the earnings and a “clearer” forecast of earnings before interest and taxes and earnings per share.</p><p>6. BioNTech | +14.16%</p><p>Pfizer&nbsp;(<b>PFE</b>) -Get Report&nbsp;says it has discoveredcounterfeit versions of the COVID-19 vaccinebeing distributed in Mexico and Poland, a media report says.</p><p>The New York healthcare company confirmed in separate investigations that vials seized by authorities were fake versions of the vaccine Pfizer developed with BioNTech&nbsp;(<b>BNTX</b>) -Get Report,&nbsp;The Wall Street Journal reports. In Mexico, the vials came with fraudulent labeling and were likely filled with distilled water, Manuel de la O, health secretary of Nuevo León state, told the paper.</p><p>7. NIO | +13.83%</p><p>NIO&nbsp;(<b>NIO</b>) -Get Report&nbsp;reported big gains in their first-quarter deliveries. The company said itdelivered 20,060 vehiclesin the first quarter, up a record 423% from a year ago. It delivered 7,257 vehicles in March, a new monthly record and up 373% year-over-year.</p><p>The Chinese electric vehicle maker was a volume leader this past week with92,190,700 shares traded.</p><p>8. Bilibili Inc | +12.74%</p><p>The U.S. listed shares of online streaming site Bilibili&nbsp;(<b>BILI</b>) -Get Reportmoved up even after the stock made a weak debut on its first day of trading in Hong Kong last month.</p><p>9. Vipshop Holdings | +11.68%</p><p>Credit Suisse wasshopping shares of Vipshop&nbsp;(<b>VIPS</b>) -Get Report&nbsp;in the wake of the Archegos Capital embarrassment.</p><p>10. Cloudflare | +11.42%</p><p>Cloudflare&nbsp;(<b>NET</b>) -Get Report&nbsp;was among several of the companies that were ere losing ground this past week, including FuboTV&nbsp;(<b>FUBO</b>) -Get Report, which was down nearly 3%, Peloton Interactive&nbsp;(<b>PTON</b>) -Get Report,&nbsp;down 1.36%, Zoom Video Communication&nbsp;(<b>ZM</b>) -Get Report, down 1.5%, and&nbsp;Roku&nbsp;(<b>ROKU</b>) -Get Report, down 3.56% to $342.20 in premarket trading.</p><p>Cloudflare was&nbsp;down 1.23% but picked up steam at the market closing Friday. Some stay-at-home stocks traded lower afterNetflix's disappointing subscriber results.</p><p>11. Enphase Energy | +11.31%</p><p>Shares of alternative energy stocks like FuelCell Energy&nbsp;(<b>FCEL</b>) -Get Report, SolarEdge Technologies&nbsp;(<b>SEDG</b>) -Get Report, Enphase Energy&nbsp;(<b>ENPH,</b>) -Get Report&nbsp;and others were rising on Earth Day as U.S. President Joe Biden kicked off aglobal climate summit.</p><p>The president invited 40 world leaders to the summit, hosted Thursday and Friday. The virtual summit was live-streamed for public viewing.</p><p>12. Restoration Hardware | +8.43%</p><p>When talking about Williams-Sonoma&nbsp;(<b>WSM</b>) -Get Report&nbsp;in the \"Mad Money Lightning Round\" this past week, Cramer said:&nbsp;\"I want you to hold onto it (Williams-Sonoma). I think Restoration Hardware&nbsp;(<b>RH</b>) -Get Report&nbsp;is also going tohave another great quarter.\"</p><p>13. Hubspot | +8.34%</p><p>HubSpot&nbsp;(<b>HUBS</b>) -Get Report&nbsp;rose this past week after Bank of America analyst Brad Sills reinitiated coverage of the customer relationship management platform witha buy rating and a $600 price target.</p><p>Sills is positive on the company addressing a large market of marketing, sales, service, and CMS, with a total addressable market of more than $86.7 billion.</p><p>14. Intuitive Surg Inc | +7.75%</p><p>Shares of Intuitive Surgical&nbsp;(<b>ISRG</b>) -Get Report&nbsp;were higher this past week after the medical equipment company's first-quarter results topped estimates and analysts at Piper Sandler increased their price target.&nbsp;Analyst Adam Maederaffirmed a neutral rating on the companywhile lifting the investment firm's price target to $840 a share from $735.</p><p>\"Despite some lingering COVID-19 impact in the quarter, the company posted healthy mid-teens procedure growth and a better-than-expected quarter from a robot placement perspective driven in part by more operating leases,\" Maeder said.</p><p>15. IBM | +6.62%</p><p>International Business Machines's&nbsp;(<b>IBM</b>) -Get Report&nbsp;Institute for Business Value (IBV) surveyed&nbsp;over 14,000 consumers in nine countries about how&nbsp;theCOVID-19 pandemic affected their views on environmental sustainability.&nbsp;Nine in 10 consumers surveyed reported that it did affect their views, and COVID-19 was the top factor cited in influencing their views.</p><p>Intel&nbsp;(<b>INTC</b>) -Get Report&nbsp;plans to evolve into both a designer and manufacturerand next-generation computer and smartphone chips while also developing a new business -- thanks in part to a development partnership with IBM&nbsp;-- that allows other companies to use its Arizona hub to make their own semiconductors.</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>15 Best Stocks in the Past Week: NIO and IBM Shares Climb</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\">\n15 Best Stocks in the Past Week: NIO and IBM Shares Climb\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-25 15:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/best-stocks-in-the-past-week-microvision-equifax-ibm-nio-skillz-hubspot><strong>thestreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stocks ended higher Friday to finish the week little changed as investors looked tostrong economic data and discounted a reportthat said President Joe Biden would propose raising capital gains taxes ...</p>\n\n<a href=\"https://www.thestreet.com/investing/best-stocks-in-the-past-week-microvision-equifax-ibm-nio-skillz-hubspot\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.thestreet.com/investing/best-stocks-in-the-past-week-microvision-equifax-ibm-nio-skillz-hubspot","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189806458","content_text":"Stocks ended higher Friday to finish the week little changed as investors looked tostrong economic data and discounted a reportthat said President Joe Biden would propose raising capital gains taxes on wealthy investors.Equities received a boost from data that indicated U.S. business output expanded the most on record in April, according to IHS Markit. New home sales in the U.S., meanwhile, rebounded in March to the highest levels since 2006.The Dow Jones Industrial Average ended up 228 points, or 0.7%, at 34,043. The S&P 500 rose 45.19, or 1.1%, to 4,180.70, missing a weekly gain by less than 6 points. The S&P 500 snapped a four-week win streak. The Nasdaq finished up 1.44% at 14,06.81.Here are some of the best stocks in the past week by their performance in percentage change at the close of trading on Apr. 23. These include stocks over a $10 share price at the time of publishing.1. MicroVision | +62.92%Jim Cramer, the founder of TheStreet, said this past week that MicroVision (MVIS) -Get Report is a battleground stock to avoid amind its surge. \"This is a battleground stock and you need to avoid battlegrounds,\" he said during the \"Mad Money Lightning Round.\"MicroVision 'is essentially a science project that has gone nowhere after 25 years,'said short-seller Hindenburg Research in December. \"$1.2 billion market cap corporate husk,\" according to Hindenburg.2. Equifax | +20.28%Equifax (EFX) -Get Report was jumping this past week after the credit-reporting companybeat Wall Street's first-quarter earnings expectations, reported record revenue, and raised its 2021 revenue guidance. Shares of the Atlanta company were surging nearly 15% to $221.19.Equifaxreported a net income of $201.6 million, or $1.64 a share, up from $116.9 million, or 95 cents a share, a year ago. Adjusted income attributable to Equifax was $1.97 a share, beating the FactSet consensus of $1.52.3. Skillz Inc | +20.25%Skillz (SKLZ) -Get Report shares rose sharply this past week after Jefferies initiated coverage of the mobile gaming company with a hold rating and a $17 price target.Jefferies analyst Andrew Uerkwitzoffers high praise for Skillzbut is concerned about the stock's valuation. “We see Skillz building a differentiated, innovative platform for mobile gaming,” he wrote in a commentary.4. Kansas City Southern | +17.13%Kansas City Southern (KSU) -Get Report will enter potential merger talks with Canadian National, according to a published report Friday, raising the stakes in a brewing bidding war between Canadian National (CNI) -Get Report and Canadian Pacific (CP) -Get Report for the U.S. railroad and its links to the gulf coast.Kansas City Southern is expected to declare CN’s recent $30 billion takeover bid superior to its previously agreed $25 billion buyout offer from Canadian Pacific, Bloomberg reported, citing people familiar with the matter.5. Skechers | +15.80%Skechers USA (SKX) -Get Report soared this past week and Morgan Stanley upgraded the footwear maker after itreported stronger-than-expected earnings in the first quarter.Morgan Stanley analyst Kimberly Greenberger lifted her rating to overweight from equal weight and boosted the price target on the stock to $56 from $44. She was impressed with the earnings and a “clearer” forecast of earnings before interest and taxes and earnings per share.6. BioNTech | +14.16%Pfizer (PFE) -Get Report says it has discoveredcounterfeit versions of the COVID-19 vaccinebeing distributed in Mexico and Poland, a media report says.The New York healthcare company confirmed in separate investigations that vials seized by authorities were fake versions of the vaccine Pfizer developed with BioNTech (BNTX) -Get Report, The Wall Street Journal reports. In Mexico, the vials came with fraudulent labeling and were likely filled with distilled water, Manuel de la O, health secretary of Nuevo León state, told the paper.7. NIO | +13.83%NIO (NIO) -Get Report reported big gains in their first-quarter deliveries. The company said itdelivered 20,060 vehiclesin the first quarter, up a record 423% from a year ago. It delivered 7,257 vehicles in March, a new monthly record and up 373% year-over-year.The Chinese electric vehicle maker was a volume leader this past week with92,190,700 shares traded.8. Bilibili Inc | +12.74%The U.S. listed shares of online streaming site Bilibili (BILI) -Get Reportmoved up even after the stock made a weak debut on its first day of trading in Hong Kong last month.9. Vipshop Holdings | +11.68%Credit Suisse wasshopping shares of Vipshop (VIPS) -Get Report in the wake of the Archegos Capital embarrassment.10. Cloudflare | +11.42%Cloudflare (NET) -Get Report was among several of the companies that were ere losing ground this past week, including FuboTV (FUBO) -Get Report, which was down nearly 3%, Peloton Interactive (PTON) -Get Report, down 1.36%, Zoom Video Communication (ZM) -Get Report, down 1.5%, and Roku (ROKU) -Get Report, down 3.56% to $342.20 in premarket trading.Cloudflare was down 1.23% but picked up steam at the market closing Friday. Some stay-at-home stocks traded lower afterNetflix's disappointing subscriber results.11. Enphase Energy | +11.31%Shares of alternative energy stocks like FuelCell Energy (FCEL) -Get Report, SolarEdge Technologies (SEDG) -Get Report, Enphase Energy (ENPH,) -Get Report and others were rising on Earth Day as U.S. President Joe Biden kicked off aglobal climate summit.The president invited 40 world leaders to the summit, hosted Thursday and Friday. The virtual summit was live-streamed for public viewing.12. Restoration Hardware | +8.43%When talking about Williams-Sonoma (WSM) -Get Report in the \"Mad Money Lightning Round\" this past week, Cramer said: \"I want you to hold onto it (Williams-Sonoma). I think Restoration Hardware (RH) -Get Report is also going tohave another great quarter.\"13. Hubspot | +8.34%HubSpot (HUBS) -Get Report rose this past week after Bank of America analyst Brad Sills reinitiated coverage of the customer relationship management platform witha buy rating and a $600 price target.Sills is positive on the company addressing a large market of marketing, sales, service, and CMS, with a total addressable market of more than $86.7 billion.14. Intuitive Surg Inc | +7.75%Shares of Intuitive Surgical (ISRG) -Get Report were higher this past week after the medical equipment company's first-quarter results topped estimates and analysts at Piper Sandler increased their price target. Analyst Adam Maederaffirmed a neutral rating on the companywhile lifting the investment firm's price target to $840 a share from $735.\"Despite some lingering COVID-19 impact in the quarter, the company posted healthy mid-teens procedure growth and a better-than-expected quarter from a robot placement perspective driven in part by more operating leases,\" Maeder said.15. IBM | +6.62%International Business Machines's (IBM) -Get Report Institute for Business Value (IBV) surveyed over 14,000 consumers in nine countries about how theCOVID-19 pandemic affected their views on environmental sustainability. Nine in 10 consumers surveyed reported that it did affect their views, and COVID-19 was the top factor cited in influencing their views.Intel (INTC) -Get Report plans to evolve into both a designer and manufacturerand next-generation computer and smartphone chips while also developing a new business -- thanks in part to a development partnership with IBM -- that allows other companies to use its Arizona hub to make their own semiconductors.","news_type":1},"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3570577365102413","authorId":"3570577365102413","name":"AxThePro","avatar":"https://static.tigerbbs.com/34f34509388e5b73a59321b8fe9c49fc","crmLevel":6,"crmLevelSwitch":1,"idStr":"3570577365102413","authorIdStr":"3570577365102413"},"content":"@kstle You also following NIO. huge Potential.","text":"@kstle You also following NIO. huge Potential.","html":"@kstle You also following NIO. huge Potential."}],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":103539832,"gmtCreate":1619792422326,"gmtModify":1704272463214,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"I love tiktok [Happy]&nbsp;","listText":"I love tiktok [Happy]&nbsp;","text":"I love tiktok [Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/103539832","repostId":"1152594140","repostType":4,"repost":{"id":"1152594140","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1619791880,"share":"https://ttm.financial/m/news/1152594140?lang=&edition=fundamental","pubTime":"2021-04-30 22:11","market":"us","language":"en","title":"TikTok names ByteDance CFO Shouzi Chew as new CEO","url":"https://stock-news.laohu8.com/highlight/detail?id=1152594140","media":"Reuters","summary":"TikTok appointed Shouzi Chew, a Singaporean national, as the new Chief Executive Officer of the hot ","content":"<p>TikTok appointed Shouzi Chew, a Singaporean national, as the new Chief Executive Officer of the hot video-sharing platform, the company said on Friday.</p>\n<p>Chew, who is based in Singapore and was named CFO of TikTok parent company ByteDance in March this year, will continue in that role.</p>\n<p>TikTok’s interim head Vanessa Pappas, based in Los Angeles, will be the new Chief Operating Officer.</p>\n<p>Chew had served as Xiaomi’s chief financial officer from 2015 to 2020, and ran its international business for a year.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>TikTok names ByteDance CFO Shouzi Chew as new CEO</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\">\nTikTok names ByteDance CFO Shouzi Chew as new CEO\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-04-30 22:11</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>TikTok appointed Shouzi Chew, a Singaporean national, as the new Chief Executive Officer of the hot video-sharing platform, the company said on Friday.</p>\n<p>Chew, who is based in Singapore and was named CFO of TikTok parent company ByteDance in March this year, will continue in that role.</p>\n<p>TikTok’s interim head Vanessa Pappas, based in Los Angeles, will be the new Chief Operating Officer.</p>\n<p>Chew had served as Xiaomi’s chief financial officer from 2015 to 2020, and ran its international business for a year.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152594140","content_text":"TikTok appointed Shouzi Chew, a Singaporean national, as the new Chief Executive Officer of the hot video-sharing platform, the company said on Friday.\nChew, who is based in Singapore and was named CFO of TikTok parent company ByteDance in March this year, will continue in that role.\nTikTok’s interim head Vanessa Pappas, based in Los Angeles, will be the new Chief Operating Officer.\nChew had served as Xiaomi’s chief financial officer from 2015 to 2020, and ran its international business for a year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":248,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109257604,"gmtCreate":1619702344208,"gmtModify":1704728256372,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"Buy when it’s low [Surprised]&nbsp;","listText":"Buy when it’s low [Surprised]&nbsp;","text":"Buy when it’s low [Surprised]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/109257604","repostId":"1117027267","repostType":4,"repost":{"id":"1117027267","pubTimestamp":1619697587,"share":"https://ttm.financial/m/news/1117027267?lang=&edition=fundamental","pubTime":"2021-04-29 19:59","market":"us","language":"en","title":"Like Discounts? These Game-Changing Stocks Are 40% (or More) Below Their 52-Week Highs","url":"https://stock-news.laohu8.com/highlight/detail?id=1117027267","media":"Motley Fool","summary":"History says that if you buy high-quality businesses and hang onto them for long periods of time, yo","content":"<p>History says that if you buy high-quality businesses and hang onto them for long periods of time, you'll have a very good chance of making money. After all, the<b>S&amp;P 500</b>hasn't had a rolling 20-year period between 1919 and 2020 where an investor would have lost money, inclusive of dividends paid.</p>\n<p>However, it's psychologically tougher to convince ourselves to put money to work in the market when it's regularly hitting new all-time highs. We want to feel like we're getting a good price when we buy equities, but that can be tough to accomplish when the benchmark S&amp;P 500 is breaking records on a near-weekly basis.</p>\n<p>But I have good news: Discounts on great stocks<i>are</i>available, if you're willing to do a bit of digging.</p>\n<p>There are currently three game-changing stocks at the forefront of innovation in their respective industries that are all down at least 40% from their respective 52-week (and all-time) highs. Best of all, they look like serious bargains relative to where they stood just a few months ago.</p>\n<p><img src=\"https://static.tigerbbs.com/6c403da53ca4bd71a1178c7e35629817\" tg-width=\"700\" tg-height=\"465\" referrerpolicy=\"no-referrer\"></p>\n<p>IMAGE SOURCE: GETTY IMAGES.</p>\n<p><b>Teladoc Health: 41% below its 52-week high</b></p>\n<p>Amonghealthcare stocks, few, if any, were aided more by the pandemic in 2020 than telemedicine-services provider<b>Teladoc Health</b>(NYSE:TDOC). Yet in spite of its huge year, Teladoc's share price has pulled back approximately 41% from its all-time and 52-week high, set in mid-February. That's a bargain ripe for the picking.</p>\n<p>Last year, with physicians wanting to keep at-risk and potentially infected patients out of their offices, demand for virtual visits soared. Teladoc handled 156% more virtual visits in 2020 than it did in the preceding year.</p>\n<p>Though there have been some concerns as to what would happen to Teladoc once the pandemic ended, the company's growth trajectory and healthcare-benefit profileprojects well for its future. Telehealth is considerably more convenient for patients and can allow doctors to more easily touch base with chronically ill patients.</p>\n<p>It's also a big win for insurance companies. Virtual visits are typically billed at a lower rate than office visits, and more frequent consultations with chronically ill patients might lead to better long-term outcomes (i.e., lower long-term expenses). These benefits are precisely why Teladoc's sales grew by an annual average rate of 74% between 2012 and 2019.</p>\n<p>Another reason you're going to want to own Teladoc is itsrecent acquisition of applied health-signals company Livongo Health. Livongo utilizes patient data and artificial intelligence to send its members tips and nudges that are designed to help them lead healthier lives. Once again, we're talking about improving patient outcomes, which is something health insurers are going to get behind.</p>\n<p>Livongo has already courted more than 500,000 diabetes members and has plans to include patients with hypertension and weight-management issues. In other words, its patient pool encompasses a large percentage of the U.S. population.</p>\n<p>Look for Teladoc Health to potentially quintuple its annual sales by mid-decade to north of $5.6 billion, according to Wall Street's consensus estimate.</p>\n<p><img src=\"https://static.tigerbbs.com/5fca19ebbe0e88c23fe3449884bad2c4\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>IMAGE SOURCE: GETTY IMAGES.</p>\n<p><b>Fastly: 50% below its 52-week high</b></p>\n<p>If you like sifting for discounts, you're going to love edge cloud-services provider<b>Fastly</b>(NYSE:FSLY). Since peaking at $136.50 in mid-October, shares of Fastly have given back half their value. That discountmakes little sense for long-term minded investors.</p>\n<p>Like Teladoc, Fastly was uniquely positioned to benefit from the pandemic. The company is primarily responsible for expediting the delivery of content, including images, video, and streaming, to end users in a secure manner. With people stuck in their homes during the pandemic, consumers and workers went online and into the cloud. This meant a big uptick in demand for content-delivery network services.</p>\n<p>Even though Fastly's new customer growth slowed a bit in the fourth quarter and it forecast a wider-than-anticipated loss in 2021 as it reinvests in growth initiatives and hires more people, the proof is in the pudding that its customers approve of its services. Last year, Fastly had a revenue-retention rate of 99% and adollar-based net expansion rate (DBNER) of 147% and 143%, respectively, in the third and fourth quarters. In plainer English, DNBER tells us that existing clients spent a respective 47% and 43% more in Q3 2020 and Q4 2020, respectively, than they did in the year-ago quarters (Q3 2019 and Q4 2019).</p>\n<p>Just as impressive, we saw Fastly overcome an operational hurdle in the third quarter. During the first half of 2020, popular social media platform TikTok accounted for an eighth of total sales. But with TikTok parent ByteDance quarreling with the Trump administration stateside, it pulled most of its traffic from Fastly's network.</p>\n<p>What looked devastating proved ultimately harmless. Full-year sales grew by 45% to $291 million and adjusted gross margin expanded 430 basis points to 60.9%.</p>\n<p>Fastly's business is set up perfectly to take advantage of increased content-delivery demand over time. This high-margin, usage-based modelshould make Fastly and its investors rich.</p>\n<p><img src=\"https://static.tigerbbs.com/5dabb0b68fe32e12c1462accee7e973b\" tg-width=\"700\" tg-height=\"474\" referrerpolicy=\"no-referrer\"></p>\n<p>IMAGE SOURCE: GETTY IMAGES.</p>\n<p><b>Zoom Video Communications: 43% below its 52-week high</b></p>\n<p>A final game-changing stock that's been substantially discounted in recent months is web-conferencing giant<b>Zoom Video Communications</b>(NASDAQ:ZM). Since peaking at almost $589 a share on Oct. 19, 2020, the company has since given back 43% of its value through this past weekend.</p>\n<p>Not to sound like a broken record, but Zoom Video was also amajor beneficiary of the pandemic. When the coronavirus shut down traditional offices, workplaces shifted to people's homes. To keep projects going, businesses big and small began turning to web conferencing. This is why Zoom reported $2.65 billion in sales last year, which represented a 326% increase from the prior-year period.</p>\n<p>One of the big reasons Zoom has been such a success is the company's freemium lure. Zoom offers a free trial of its cloud-based conferencing solutions that's proved highly effective at getting businesses to subscribe. In particular, the company's conferencing solutions have really resonated with small-and-medium-sized businesses. Last year, customers contributing at least $100,000 in trailing-12-month revenue rose 156%. But the number of customers with at least 10 employeessurged 470% to 467,100.</p>\n<p>And have I mentioned the sheer dominance? According to Datanyze, Zoomcontrols just shy of 40% of the U.S. web-conferencing market. That's essentially double its next-closest competitor, and makes it the logical choice for most businesses.</p>\n<p>The efficiencies that Zoom's platform provides businesses makes it highly unlikely that we're going to see its growth slow dramatically in the coming years. If anything, Zoom's cash flow windfall gives it the incentive to expand its services beyond web conferencing.</p>\n<p>Like Teladoc, Zoom looks to be on pace to roughly quintuple its sales over the next five years.</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>Like Discounts? These Game-Changing Stocks Are 40% (or More) Below Their 52-Week Highs</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\">\nLike Discounts? These Game-Changing Stocks Are 40% (or More) Below Their 52-Week Highs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-29 19:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/29/like-discounts-game-changing-stocks-40-below-highs/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>History says that if you buy high-quality businesses and hang onto them for long periods of time, you'll have a very good chance of making money. After all, theS&P 500hasn't had a rolling 20-year ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/29/like-discounts-game-changing-stocks-40-below-highs/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom","FSLY":"Fastly, Inc.","TDOC":"Teladoc Health Inc."},"source_url":"https://www.fool.com/investing/2021/04/29/like-discounts-game-changing-stocks-40-below-highs/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117027267","content_text":"History says that if you buy high-quality businesses and hang onto them for long periods of time, you'll have a very good chance of making money. After all, theS&P 500hasn't had a rolling 20-year period between 1919 and 2020 where an investor would have lost money, inclusive of dividends paid.\nHowever, it's psychologically tougher to convince ourselves to put money to work in the market when it's regularly hitting new all-time highs. We want to feel like we're getting a good price when we buy equities, but that can be tough to accomplish when the benchmark S&P 500 is breaking records on a near-weekly basis.\nBut I have good news: Discounts on great stocksareavailable, if you're willing to do a bit of digging.\nThere are currently three game-changing stocks at the forefront of innovation in their respective industries that are all down at least 40% from their respective 52-week (and all-time) highs. Best of all, they look like serious bargains relative to where they stood just a few months ago.\n\nIMAGE SOURCE: GETTY IMAGES.\nTeladoc Health: 41% below its 52-week high\nAmonghealthcare stocks, few, if any, were aided more by the pandemic in 2020 than telemedicine-services providerTeladoc Health(NYSE:TDOC). Yet in spite of its huge year, Teladoc's share price has pulled back approximately 41% from its all-time and 52-week high, set in mid-February. That's a bargain ripe for the picking.\nLast year, with physicians wanting to keep at-risk and potentially infected patients out of their offices, demand for virtual visits soared. Teladoc handled 156% more virtual visits in 2020 than it did in the preceding year.\nThough there have been some concerns as to what would happen to Teladoc once the pandemic ended, the company's growth trajectory and healthcare-benefit profileprojects well for its future. Telehealth is considerably more convenient for patients and can allow doctors to more easily touch base with chronically ill patients.\nIt's also a big win for insurance companies. Virtual visits are typically billed at a lower rate than office visits, and more frequent consultations with chronically ill patients might lead to better long-term outcomes (i.e., lower long-term expenses). These benefits are precisely why Teladoc's sales grew by an annual average rate of 74% between 2012 and 2019.\nAnother reason you're going to want to own Teladoc is itsrecent acquisition of applied health-signals company Livongo Health. Livongo utilizes patient data and artificial intelligence to send its members tips and nudges that are designed to help them lead healthier lives. Once again, we're talking about improving patient outcomes, which is something health insurers are going to get behind.\nLivongo has already courted more than 500,000 diabetes members and has plans to include patients with hypertension and weight-management issues. In other words, its patient pool encompasses a large percentage of the U.S. population.\nLook for Teladoc Health to potentially quintuple its annual sales by mid-decade to north of $5.6 billion, according to Wall Street's consensus estimate.\n\nIMAGE SOURCE: GETTY IMAGES.\nFastly: 50% below its 52-week high\nIf you like sifting for discounts, you're going to love edge cloud-services providerFastly(NYSE:FSLY). Since peaking at $136.50 in mid-October, shares of Fastly have given back half their value. That discountmakes little sense for long-term minded investors.\nLike Teladoc, Fastly was uniquely positioned to benefit from the pandemic. The company is primarily responsible for expediting the delivery of content, including images, video, and streaming, to end users in a secure manner. With people stuck in their homes during the pandemic, consumers and workers went online and into the cloud. This meant a big uptick in demand for content-delivery network services.\nEven though Fastly's new customer growth slowed a bit in the fourth quarter and it forecast a wider-than-anticipated loss in 2021 as it reinvests in growth initiatives and hires more people, the proof is in the pudding that its customers approve of its services. Last year, Fastly had a revenue-retention rate of 99% and adollar-based net expansion rate (DBNER) of 147% and 143%, respectively, in the third and fourth quarters. In plainer English, DNBER tells us that existing clients spent a respective 47% and 43% more in Q3 2020 and Q4 2020, respectively, than they did in the year-ago quarters (Q3 2019 and Q4 2019).\nJust as impressive, we saw Fastly overcome an operational hurdle in the third quarter. During the first half of 2020, popular social media platform TikTok accounted for an eighth of total sales. But with TikTok parent ByteDance quarreling with the Trump administration stateside, it pulled most of its traffic from Fastly's network.\nWhat looked devastating proved ultimately harmless. Full-year sales grew by 45% to $291 million and adjusted gross margin expanded 430 basis points to 60.9%.\nFastly's business is set up perfectly to take advantage of increased content-delivery demand over time. This high-margin, usage-based modelshould make Fastly and its investors rich.\n\nIMAGE SOURCE: GETTY IMAGES.\nZoom Video Communications: 43% below its 52-week high\nA final game-changing stock that's been substantially discounted in recent months is web-conferencing giantZoom Video Communications(NASDAQ:ZM). Since peaking at almost $589 a share on Oct. 19, 2020, the company has since given back 43% of its value through this past weekend.\nNot to sound like a broken record, but Zoom Video was also amajor beneficiary of the pandemic. When the coronavirus shut down traditional offices, workplaces shifted to people's homes. To keep projects going, businesses big and small began turning to web conferencing. This is why Zoom reported $2.65 billion in sales last year, which represented a 326% increase from the prior-year period.\nOne of the big reasons Zoom has been such a success is the company's freemium lure. Zoom offers a free trial of its cloud-based conferencing solutions that's proved highly effective at getting businesses to subscribe. In particular, the company's conferencing solutions have really resonated with small-and-medium-sized businesses. Last year, customers contributing at least $100,000 in trailing-12-month revenue rose 156%. But the number of customers with at least 10 employeessurged 470% to 467,100.\nAnd have I mentioned the sheer dominance? According to Datanyze, Zoomcontrols just shy of 40% of the U.S. web-conferencing market. That's essentially double its next-closest competitor, and makes it the logical choice for most businesses.\nThe efficiencies that Zoom's platform provides businesses makes it highly unlikely that we're going to see its growth slow dramatically in the coming years. If anything, Zoom's cash flow windfall gives it the incentive to expand its services beyond web conferencing.\nLike Teladoc, Zoom looks to be on pace to roughly quintuple its sales over the next five years.","news_type":1},"isVote":1,"tweetType":1,"viewCount":285,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576445214043888","authorId":"3576445214043888","name":"Lingclass","avatar":"https://static.tigerbbs.com/950af8fc59792b26f3c6dc5e2b211022","crmLevel":1,"crmLevelSwitch":0,"idStr":"3576445214043888","authorIdStr":"3576445214043888"},"content":"Yes yes! Hahaha","text":"Yes yes! Hahaha","html":"Yes yes! Hahaha"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374936279,"gmtCreate":1619407596391,"gmtModify":1704723381237,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"Always bright with Google[Cool]&nbsp;","listText":"Always bright with Google[Cool]&nbsp;","text":"Always bright with Google[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/374936279","repostId":"2129363525","repostType":4,"isVote":1,"tweetType":1,"viewCount":214,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107801082,"gmtCreate":1620459372546,"gmtModify":1704344058754,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"Now is the time [Lovely]&nbsp;","listText":"Now is the time [Lovely]&nbsp;","text":"Now is the time [Lovely]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/107801082","repostId":"1157328258","repostType":4,"repost":{"id":"1157328258","pubTimestamp":1620360165,"share":"https://ttm.financial/m/news/1157328258?lang=&edition=fundamental","pubTime":"2021-05-07 12:02","market":"us","language":"en","title":"Amazon: The Most Clearly Undervalued Company","url":"https://stock-news.laohu8.com/highlight/detail?id=1157328258","media":"Seeking alpha","summary":"SummaryAmazon is one of the companies whose growth has not yet reached its limit and not even entere","content":"<p>Summary</p><ul><li>Amazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase.</li><li>In terms of comparative valuation, AMZN is undervalued against the market.</li><li>DCF-based Amazon stock price target suggests 30% upside potential. But I think this is not even a basic scenario, but a pessimistic scenario.</li></ul><p>I present my comprehensive Amazon (AMZN) analysis in light of the results of the last quarter.</p><p>#1 Price vs. Growth</p><p>First of all, let's assess whether we can statistically state that Amazon's growth has accelerated or slowed down in the last quarter. To do this, let's compare the revenue growth trends of the key segments of the company with and without the results of the last four quarters.</p><p>The dynamics of the 'Online Stores' segment showed a qualitative breakthrough. Without taking into account the last four quarters, a near-linear trend was observed here. Now, it has become exponential:</p><p><img src=\"https://static.tigerbbs.com/bac49a9df0e5b978dc15e20bedfce3da\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><i>Source: VisualizedAnalytics.com</i></p><p>The 'Third-Party Seller Services' segment - the exponential growth continues:</p><p><img src=\"https://static.tigerbbs.com/6b58df42726bc01c8a5e5c2940d0476d\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><i>Source: VisualizedAnalytics.com</i></p><p>The 'Subscription Services' (Amazon Prime) segment - here the acceleration remains, and the result of the last quarter was better than the trend:</p><p><i>Source: VisualizedAnalytics.com</i></p><p>The 'Other' (advertising services) segment has also showed a significant acceleration:<img src=\"https://static.tigerbbs.com/a58095394bdd79d561166a74942a9e55\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><i>Source: VisualizedAnalytics.com</i></p><p>The growth trend of 'Amazon Web Services' has slowed down, but judging by the results of the last quarter, there is a gradual return to the previous trend:</p><p><img src=\"https://static.tigerbbs.com/07069ccaab37c32eed56da69881e7bce\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p>Geographically, Amazon's revenue was also significantly better than the trend:</p><p><img src=\"https://static.tigerbbs.com/a1d9246e5c01aac6c62e49ad7cd73e2c\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/0e7276161a3d2b2159ab3d727d3cb7d9\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><i>So, statistically, not subjectively, we should recognize the acceleration of the company's growth</i><i><b>in all key segments</b></i><i>. In my opinion, this is exactly what is expected from Amazon.</i></p><p>Further. Over the last 10 years, Amazon's capitalization has been in a qualitative linear relationship with its revenue:</p><p><img src=\"https://static.tigerbbs.com/f105c314902d29dae4d0f0e400aa2245\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><i>Source: VisualizedAnalytics.com</i></p><p>There is also a certain influence of the company's revenue growth rate on its multiples:</p><p><img src=\"https://static.tigerbbs.com/8beca01b5624a15aab79465c580ded6b\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><i>Source: VisualizedAnalytics.com</i></p><p>Based on these two relationships and taking into account the influence of the growth of theM2 money stockin the US, it is possible to build another model that allows us to determine the balanced level of the company's capitalization. In addition, this model allows to model the growth of the company's capitalization based on the current expectations of analysts regarding the company's revenue growth in the next four quarters. Here is this model:</p><p><img src=\"https://static.tigerbbs.com/083fa1dc350e5e54cc7d3145744c9e4c\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/d63f0cff5e0dd83343d26ee90552a033\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p><p><i>Source: VisualizedAnalytics.com</i></p><p><i>As you can see, firstly, this model indicates that the company's current price is already</i><i><b>below the balanced level</b></i><i>. And secondly, it assumes a</i><i><b>25% growth</b></i><i>in capitalization in the next four quarters.</i></p><p>#2 Comparative Valuation</p><p>In the previous block, I modeled Amazon's balanced price based on revenue. What is remarkable is that if we apply the same approach to the comparative valuation of the company using multiples, we will fail. At least I have not been able to find a single revenue-based multiple that would make it possible to successfully compare Amazon to other companies. But the forward P/E (next FY) multiple adjusted by the expected EPS annual growth rate made it possible to find a suitable model:</p><p><img src=\"https://static.tigerbbs.com/97ac0310bcef622e12c8c21d46979f7e\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8d7573ff8a7fc00719a51042f09fc989\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><i>Source: VisualizedAnalytics.com</i></p><p><i>As you can see, judging by this multiple, Amazon is significantly undervalued.</i></p><p>#3 Discounted Cash Flow Model</p><p>When predicting Amazon's revenue for the next decade, I proceeded from the average expectations ofanalysts:</p><p><img src=\"https://static.tigerbbs.com/9f41298db73dbcd92469026cc4e767c4\" tg-width=\"640\" tg-height=\"323\" referrerpolicy=\"no-referrer\"><i>Source: Seeking Alpha Pro</i></p><p>When predicting the dynamics of Amazon's operating margin, I also proceeded from analysts'expectationsregarding the growth of the company's EPS, and taking into account the gradual increase in the tax rate to 25%. In my opinion, a gradual increase in the operating margin to 8% in the terminal year is a very realistic scenario.</p><p>Here is the calculation of the Weighted Average Cost of Capital:</p><p><img src=\"https://static.tigerbbs.com/759163398701e54efd7cfabd11a0867d\" tg-width=\"480\" tg-height=\"374\" referrerpolicy=\"no-referrer\"><i>Source: Author</i></p><p>Some explanations:</p><ul><li>In order to calculate the market rate of return, I used values of equityriskpremium (4.72%) and the current yield of UST10 as a risk-free rate (1.6%).</li><li>I used the currentvalueof the three-year beta coefficient (0.92). For the terminal year, I used Beta equal to 1.</li><li>To calculate the Cost of Debt, I used the interest expense for 2019 and 2020 divided by the debt value for the same years.</li></ul><p>Here is the model itself:</p><p><img src=\"https://static.tigerbbs.com/0df02bca01b3ef74d3b640d95eb00590\" tg-width=\"640\" tg-height=\"528\" referrerpolicy=\"no-referrer\">(In high resolution)</p><p><i>Source: Author</i></p><p><i>The DCF-based target price of Amazon's shares is $4,280, offering 29% upside.</i></p><p>Final thoughts</p><ol><li>Amazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase. In a sense, this is a startup with $73 billion cash.</li><li>The fact that Amazon remains in the acceleration phase does not mean that its capitalization is constantly undervalued. But in this case, based on the patterns between the company's capitalization and the parameters of its revenue, we can conclude that the company is<b>undervalued</b>.</li><li>Comparing Amazon to other companies through the prism of expected EPS growth, it must be admitted that the company is<b>much cheaper</b>than the market.</li><li>DCF model based on average expectations analysts indicate a 30% undervaluation. At the start of the year, a similarmodelindicated a 20% undervaluation.</li><li>When you look at Amazon's revenue forecast for the next decade, you realize that the company will face growth problems. But in my opinion,<i>it is better to invest in a company facing growth problems than aging problems</i>.</li></ol>","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>Amazon: The Most Clearly Undervalued Company</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\">\nAmazon: The Most Clearly Undervalued Company\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-07 12:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4424794-amazon-clearly-undervalued-company><strong>Seeking alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAmazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase.In terms of comparative valuation, AMZN is undervalued against the market.DCF-...</p>\n\n<a href=\"https://seekingalpha.com/article/4424794-amazon-clearly-undervalued-company\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://seekingalpha.com/article/4424794-amazon-clearly-undervalued-company","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157328258","content_text":"SummaryAmazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase.In terms of comparative valuation, AMZN is undervalued against the market.DCF-based Amazon stock price target suggests 30% upside potential. But I think this is not even a basic scenario, but a pessimistic scenario.I present my comprehensive Amazon (AMZN) analysis in light of the results of the last quarter.#1 Price vs. GrowthFirst of all, let's assess whether we can statistically state that Amazon's growth has accelerated or slowed down in the last quarter. To do this, let's compare the revenue growth trends of the key segments of the company with and without the results of the last four quarters.The dynamics of the 'Online Stores' segment showed a qualitative breakthrough. Without taking into account the last four quarters, a near-linear trend was observed here. Now, it has become exponential:Source: VisualizedAnalytics.comThe 'Third-Party Seller Services' segment - the exponential growth continues:Source: VisualizedAnalytics.comThe 'Subscription Services' (Amazon Prime) segment - here the acceleration remains, and the result of the last quarter was better than the trend:Source: VisualizedAnalytics.comThe 'Other' (advertising services) segment has also showed a significant acceleration:Source: VisualizedAnalytics.comThe growth trend of 'Amazon Web Services' has slowed down, but judging by the results of the last quarter, there is a gradual return to the previous trend:Source: VisualizedAnalytics.comGeographically, Amazon's revenue was also significantly better than the trend:Source: VisualizedAnalytics.comSo, statistically, not subjectively, we should recognize the acceleration of the company's growthin all key segments. In my opinion, this is exactly what is expected from Amazon.Further. Over the last 10 years, Amazon's capitalization has been in a qualitative linear relationship with its revenue:Source: VisualizedAnalytics.comThere is also a certain influence of the company's revenue growth rate on its multiples:Source: VisualizedAnalytics.comBased on these two relationships and taking into account the influence of the growth of theM2 money stockin the US, it is possible to build another model that allows us to determine the balanced level of the company's capitalization. In addition, this model allows to model the growth of the company's capitalization based on the current expectations of analysts regarding the company's revenue growth in the next four quarters. Here is this model:Source: VisualizedAnalytics.comAs you can see, firstly, this model indicates that the company's current price is alreadybelow the balanced level. And secondly, it assumes a25% growthin capitalization in the next four quarters.#2 Comparative ValuationIn the previous block, I modeled Amazon's balanced price based on revenue. What is remarkable is that if we apply the same approach to the comparative valuation of the company using multiples, we will fail. At least I have not been able to find a single revenue-based multiple that would make it possible to successfully compare Amazon to other companies. But the forward P/E (next FY) multiple adjusted by the expected EPS annual growth rate made it possible to find a suitable model:Source: VisualizedAnalytics.comAs you can see, judging by this multiple, Amazon is significantly undervalued.#3 Discounted Cash Flow ModelWhen predicting Amazon's revenue for the next decade, I proceeded from the average expectations ofanalysts:Source: Seeking Alpha ProWhen predicting the dynamics of Amazon's operating margin, I also proceeded from analysts'expectationsregarding the growth of the company's EPS, and taking into account the gradual increase in the tax rate to 25%. In my opinion, a gradual increase in the operating margin to 8% in the terminal year is a very realistic scenario.Here is the calculation of the Weighted Average Cost of Capital:Source: AuthorSome explanations:In order to calculate the market rate of return, I used values of equityriskpremium (4.72%) and the current yield of UST10 as a risk-free rate (1.6%).I used the currentvalueof the three-year beta coefficient (0.92). For the terminal year, I used Beta equal to 1.To calculate the Cost of Debt, I used the interest expense for 2019 and 2020 divided by the debt value for the same years.Here is the model itself:(In high resolution)Source: AuthorThe DCF-based target price of Amazon's shares is $4,280, offering 29% upside.Final thoughtsAmazon is one of the companies whose growth has not yet reached its limit and not even entered the plateau phase. In a sense, this is a startup with $73 billion cash.The fact that Amazon remains in the acceleration phase does not mean that its capitalization is constantly undervalued. But in this case, based on the patterns between the company's capitalization and the parameters of its revenue, we can conclude that the company isundervalued.Comparing Amazon to other companies through the prism of expected EPS growth, it must be admitted that the company ismuch cheaperthan the market.DCF model based on average expectations analysts indicate a 30% undervaluation. At the start of the year, a similarmodelindicated a 20% undervaluation.When you look at Amazon's revenue forecast for the next decade, you realize that the company will face growth problems. But in my opinion,it is better to invest in a company facing growth problems than aging problems.","news_type":1},"isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108677038,"gmtCreate":1620025225624,"gmtModify":1704337540036,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"Way to go Gojek [Strong]&nbsp;","listText":"Way to go Gojek [Strong]&nbsp;","text":"Way to go Gojek [Strong]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/108677038","repostId":"1103024418","repostType":4,"isVote":1,"tweetType":1,"viewCount":317,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108674167,"gmtCreate":1620025151759,"gmtModify":1704337538909,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"Pray for India [Comfort]&nbsp;","listText":"Pray for India [Comfort]&nbsp;","text":"Pray for India [Comfort]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/108674167","repostId":"2132913565","repostType":4,"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":375240211,"gmtCreate":1619353000633,"gmtModify":1704722777178,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"[Miser]&nbsp;","listText":"[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/375240211","repostId":"1189806458","repostType":4,"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3570577365102413","authorId":"3570577365102413","name":"AxThePro","avatar":"https://static.tigerbbs.com/34f34509388e5b73a59321b8fe9c49fc","crmLevel":6,"crmLevelSwitch":1,"idStr":"3570577365102413","authorIdStr":"3570577365102413"},"content":"@kstle You also following NIO. huge Potential.","text":"@kstle You also following NIO. huge Potential.","html":"@kstle You also following NIO. huge Potential."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":105672219,"gmtCreate":1620302561931,"gmtModify":1704341595979,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"[Surprised]&nbsp;","listText":"[Surprised]&nbsp;","text":"[Surprised]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105672219","repostId":"1178617117","repostType":4,"repost":{"id":"1178617117","pubTimestamp":1620285691,"share":"https://ttm.financial/m/news/1178617117?lang=&edition=fundamental","pubTime":"2021-05-06 15:21","market":"us","language":"en","title":"Bid On A Flight With Blue Origin: How You Can Go To Space On July 20","url":"https://stock-news.laohu8.com/highlight/detail?id=1178617117","media":"benzinga","summary":"Blue Origin announced details Wednesday of its first manned flight to space on July 20 aboard the su","content":"<p>Blue Origin announced details Wednesday of its first manned flight to space on July 20 aboard the sub-orbital rocket New Shepard.</p>\n<p><b>What Happened:</b>Blue Origin, the space company founded by<b>Amazon.com's</b>&nbsp;Jeff Bezos,revealeddetails on a three-step process for people to bid on a seat on the first New Shepard manned flight.</p>\n<p>From May 5 to May 19, bidders can bid any amount up to a certain cap. On May 19, bidders will be unsealed and those biddings will have to exceed the current highest amount. On June 12, a live auction will take place to pick the winning bidder.</p>\n<p>The winning bid will be donated to Blue Origin’s charitable fund Club For The Future.</p>\n<p>The flight will take four minutes to reach its highest point and last around 10 minutes from takeoff to landing.</p>\n<p>The winning bidder will be required to take part in three days of training and will need to meet several physical requirements. The winning bidder will need to be able to climb seven flights of stairs in 90 seconds or less.</p>\n<p>A height requirement of between 5’0” and 6’4” and a weight requirement of&nbsp;between 110 pounds and 223 pounds will also need to be met&nbsp;by the winning bidder.</p>\n<p>“This seat will change how you see the world,” the company said on its website.</p>\n<p><b>Why It’s Important:</b>The New Shepard will feature the largest windows ever flown in space. The craft is pressurized, meaning the crew doesn’t have to wear their own suits during flight. Six passengers can fit in the spacecraft;&nbsp;no details were announced on who the other five people will be on the initial flight.</p>\n<p>Blue Origin has completed over 15 uncrewed test missions for the New Shepard including the most recent April 14 launch.</p>\n<p>The announcement on May 5coincidedwith the 60th anniversary of the first crewed American spaceflight by Alan Shepard. The July 20 launch coincides with the 52nd anniversary of the 1969 Apollo 11 moon landing.</p>\n<p>Blue Origin declined to offer a ticket price amount for future flights down the road, which was widely expected to be unveiled on Wednesday.</p>\n<p>The auction process could be closely watched by Blue Origin to see what they could potentially charge for tickets to space in the future. The process will also likely be followed closely by rival&nbsp;<b>Virgin Galactic</b>&nbsp;who currently charges around $250,000 for a ticket to space with planned flights starting in 2022.</p>\n<p><b>Price Action:</b>Shares of Amazon&nbsp;are down 1% to $3280.50 on Wednesday. Shares of Virgin Galactic are down 4% to $19.95.</p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bid On A Flight With Blue Origin: How You Can Go To Space On July 20</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\">\nBid On A Flight With Blue Origin: How You Can Go To Space On July 20\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-06 15:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/21/05/20972975/bid-on-a-flight-with-blue-origin-how-you-can-go-to-space-on-july-20><strong>benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Blue Origin announced details Wednesday of its first manned flight to space on July 20 aboard the sub-orbital rocket New Shepard.\nWhat Happened:Blue Origin, the space company founded byAmazon.com's ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/05/20972975/bid-on-a-flight-with-blue-origin-how-you-can-go-to-space-on-july-20\">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","SPCE":"维珍银河"},"source_url":"https://www.benzinga.com/news/21/05/20972975/bid-on-a-flight-with-blue-origin-how-you-can-go-to-space-on-july-20","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178617117","content_text":"Blue Origin announced details Wednesday of its first manned flight to space on July 20 aboard the sub-orbital rocket New Shepard.\nWhat Happened:Blue Origin, the space company founded byAmazon.com's Jeff Bezos,revealeddetails on a three-step process for people to bid on a seat on the first New Shepard manned flight.\nFrom May 5 to May 19, bidders can bid any amount up to a certain cap. On May 19, bidders will be unsealed and those biddings will have to exceed the current highest amount. On June 12, a live auction will take place to pick the winning bidder.\nThe winning bid will be donated to Blue Origin’s charitable fund Club For The Future.\nThe flight will take four minutes to reach its highest point and last around 10 minutes from takeoff to landing.\nThe winning bidder will be required to take part in three days of training and will need to meet several physical requirements. The winning bidder will need to be able to climb seven flights of stairs in 90 seconds or less.\nA height requirement of between 5’0” and 6’4” and a weight requirement of between 110 pounds and 223 pounds will also need to be met by the winning bidder.\n“This seat will change how you see the world,” the company said on its website.\nWhy It’s Important:The New Shepard will feature the largest windows ever flown in space. The craft is pressurized, meaning the crew doesn’t have to wear their own suits during flight. Six passengers can fit in the spacecraft; no details were announced on who the other five people will be on the initial flight.\nBlue Origin has completed over 15 uncrewed test missions for the New Shepard including the most recent April 14 launch.\nThe announcement on May 5coincidedwith the 60th anniversary of the first crewed American spaceflight by Alan Shepard. The July 20 launch coincides with the 52nd anniversary of the 1969 Apollo 11 moon landing.\nBlue Origin declined to offer a ticket price amount for future flights down the road, which was widely expected to be unveiled on Wednesday.\nThe auction process could be closely watched by Blue Origin to see what they could potentially charge for tickets to space in the future. The process will also likely be followed closely by rival Virgin Galactic who currently charges around $250,000 for a ticket to space with planned flights starting in 2022.\nPrice Action:Shares of Amazon are down 1% to $3280.50 on Wednesday. Shares of Virgin Galactic are down 4% to $19.95.","news_type":1},"isVote":1,"tweetType":1,"viewCount":213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":105676236,"gmtCreate":1620302491325,"gmtModify":1704341594688,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"[Observation]&nbsp;","listText":"[Observation]&nbsp;","text":"[Observation]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105676236","repostId":"1164751331","repostType":4,"repost":{"id":"1164751331","pubTimestamp":1620291036,"share":"https://ttm.financial/m/news/1164751331?lang=&edition=fundamental","pubTime":"2021-05-06 16:50","market":"us","language":"en","title":"Chinese electric vehicle maker Nio launches in Norway, its 1st overseas store","url":"https://stock-news.laohu8.com/highlight/detail?id=1164751331","media":"Reuters","summary":"BEIJING, May 6 (Reuters) - Chinese electric vehicle maker Nio Inc said on Thursday that it had launc","content":"<p>BEIJING, May 6 (Reuters) - Chinese electric vehicle maker Nio Inc said on Thursday that it had launched its first overseas store in Norway and plans to start selling cars in the country as it pushes to expand globally.</p>\n<p>Nio, which makes electric sport-utility vehicles in China's eastern city of Hefei, is employing more than 9,000 staff globally, said Chief Executive William Li.</p>\n<p>The company, backed by Chinese tech giant Tencent, has delivered over 100,000 cars since it was set up in 2014, almost all of them in China.</p>\n<p>The automaker's chief in Norway, Marius Hayler, said at an online event that Nio was building its first showroom outside China in Norway's capital city Oslo.</p>\n<p>It aims to open the first showroom in September. Nio will open stores in four other Norway cities in 2022, Hayler said.</p>\n<p>Norway is boosting sales of electric vehicles, which represent over half of the country's all new cars sales.</p>\n<p>China's EV makers have been looking to push up exports in line with Beijing's ambition to build a world-class auto industry and to compete with traditional auto firms.</p>\n<p>Nio's rivals Xpeng Inc and BYD already sell electric cars in Europe.</p>\n<p>Nio's co-founder and president, Qin Lihong, told Reuters at the Shanghai Auto Show that Nio would build a user community in foreign markets as it does in China when it sells cars globally.</p>\n<p>The company will adjust to local environments by hiring local staff and learn local culture, Qin had said.</p>\n<p>Nio is valued at $61.8 billion based on its New York stock listing, just below Germany's BMW.</p>\n<p>Last year, Nio's CEO William Li said the firm aimed to enter more markets from 2022. The company is also researching entering the United States, the world's No.2 auto market after China, Nio executives have said.</p>","source":"yahoofinance_sg","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>Chinese electric vehicle maker Nio launches in Norway, its 1st overseas store</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\">\nChinese electric vehicle maker Nio launches in Norway, its 1st overseas store\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-06 16:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/1-chinese-electric-vehicle-maker-083320682.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BEIJING, May 6 (Reuters) - Chinese electric vehicle maker Nio Inc said on Thursday that it had launched its first overseas store in Norway and plans to start selling cars in the country as it pushes ...</p>\n\n<a href=\"https://finance.yahoo.com/news/1-chinese-electric-vehicle-maker-083320682.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://finance.yahoo.com/news/1-chinese-electric-vehicle-maker-083320682.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164751331","content_text":"BEIJING, May 6 (Reuters) - Chinese electric vehicle maker Nio Inc said on Thursday that it had launched its first overseas store in Norway and plans to start selling cars in the country as it pushes to expand globally.\nNio, which makes electric sport-utility vehicles in China's eastern city of Hefei, is employing more than 9,000 staff globally, said Chief Executive William Li.\nThe company, backed by Chinese tech giant Tencent, has delivered over 100,000 cars since it was set up in 2014, almost all of them in China.\nThe automaker's chief in Norway, Marius Hayler, said at an online event that Nio was building its first showroom outside China in Norway's capital city Oslo.\nIt aims to open the first showroom in September. Nio will open stores in four other Norway cities in 2022, Hayler said.\nNorway is boosting sales of electric vehicles, which represent over half of the country's all new cars sales.\nChina's EV makers have been looking to push up exports in line with Beijing's ambition to build a world-class auto industry and to compete with traditional auto firms.\nNio's rivals Xpeng Inc and BYD already sell electric cars in Europe.\nNio's co-founder and president, Qin Lihong, told Reuters at the Shanghai Auto Show that Nio would build a user community in foreign markets as it does in China when it sells cars globally.\nThe company will adjust to local environments by hiring local staff and learn local culture, Qin had said.\nNio is valued at $61.8 billion based on its New York stock listing, just below Germany's BMW.\nLast year, Nio's CEO William Li said the firm aimed to enter more markets from 2022. The company is also researching entering the United States, the world's No.2 auto market after China, Nio executives have said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":248,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108677615,"gmtCreate":1620025326737,"gmtModify":1704337541164,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"“Today I buy what others won't, so tomorrow I earn returns others can't.\"- Paraphrase of Jerry Rice[Thinking]&nbsp;","listText":"“Today I buy what others won't, so tomorrow I earn returns others can't.\"- Paraphrase of Jerry Rice[Thinking]&nbsp;","text":"“Today I buy what others won't, so tomorrow I earn returns others can't.\"- Paraphrase of Jerry Rice[Thinking]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/108677615","repostId":"1121605010","repostType":4,"repost":{"id":"1121605010","pubTimestamp":1620014543,"share":"https://ttm.financial/m/news/1121605010?lang=&edition=fundamental","pubTime":"2021-05-03 12:02","market":"us","language":"en","title":"4 Reasons Baidu Could Make You Rich","url":"https://stock-news.laohu8.com/highlight/detail?id=1121605010","media":"seekingalpha","summary":"Summary\n\nStrong corporate earnings and great economic data keeps the market grinding higher. The S&P","content":"<p><b>Summary</b></p>\n<ul>\n <li>Strong corporate earnings and great economic data keeps the market grinding higher. The S&amp;P 500 is 36% historically overvalued and has just 28% upside potential over the next five years.</li>\n <li>Fortunately, whatever your goals, yield, value, growth, or total returns, something great is always on sale if you know where to look.</li>\n <li>Baidu is the Google of China, and planning on increasing spending by 30% annually over the coming years, focusing on AI, driverless cars, and streaming.</li>\n <li>In recent weeks it plunged 40%, partially due to forced hedge fund margin call selling. This creates a potentially exceptional opportunity to be \"greedy when others are fearful\" about this speculative hyper-growth blue-chip.</li>\n <li>I recently bought a starter position in Baidu, because it's 31% undervalued and analysts think it could double in the next three years, and almost triple over the next five. For anyone comfortable with the complex risk profile of Chinese tech giants, Baidu is one of the most reasonable and prudent hyper-growth blue-chips you can buy today.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fce5597f98f5e2431c73edea32173192\" tg-width=\"1536\" tg-height=\"693\"><span>Photo by DNY59/iStock via Getty Images</span></p>\n<p>Over seven years as an analyst I've studied the greatest investors in history, to see what strategies made them legends.</p>\n<p><b>Greatest Investors In History: Masters Of Financial Science</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Name</b></td>\n   <td><b>Returns</b></td>\n   <td><b>Time Horizon</b></td>\n   <td><p><b>Most Famous For</b></p></td>\n  </tr>\n  <tr>\n   <td>Jim Simmons (Co-Founder Renaissance Technologies)</td>\n   <td>71.8% CAGR</td>\n   <td>1994 to 2014 (best investing record ever recorded)</td>\n   <td><p>Pure Quant Based Investing</p></td>\n  </tr>\n  <tr>\n   <td>Joel Greenblatt</td>\n   <td>40% CAGR</td>\n   <td>21 years at Gotham Capital</td>\n   <td><p><b>\"Above-Average Quality Companies At Below-Average Prices\"</b></p></td>\n  </tr>\n  <tr>\n   <td>Peter Lynch</td>\n   <td>29.2% CAGR at Fidelity's Magellan Fund</td>\n   <td>1977 to 1990 (13 years)</td>\n   <td><p><b>\"Growth At A Reasonable Price\"</b></p></td>\n  </tr>\n  <tr>\n   <td>Bill Miller (Legg Mason Value Trust 1990 to 2006)</td>\n   <td>22.8% CAGR and beat the S&amp;P 500 for 15 consecutive years</td>\n   <td>16 years</td>\n  </tr>\n  <tr>\n   <td>Warren Buffett</td>\n   <td>20.8% CAGR at Berkshire</td>\n   <td>55 Years</td>\n   <td><p><b>Greedy when others are fearful</b></p></td>\n  </tr>\n  <tr>\n   <td>Benjamin Graham</td>\n   <td>20% CAGR vs 12% S&amp;P 500</td>\n   <td>1934 to 1956 (22 years)</td>\n   <td><b>Margin of Safety</b></td>\n  </tr>\n  <tr>\n   <td>Edward Thorp</td>\n   <td>20+% CAGR</td>\n   <td>over 30 years</td>\n   <td><p>invented card counting,<b>pure statistically-based investing</b></p></td>\n  </tr>\n  <tr>\n   <td>Charlie Munger</td>\n   <td>19.80%</td>\n   <td>1962 to 1975</td>\n   <td><p><b>Wonderful companies at fair prices</b></p></td>\n  </tr>\n  <tr>\n   <td>Howard Marks</td>\n   <td>19% CAGR</td>\n   <td>Since 1995</td>\n   <td><p><b>Valuation Mean Reversion</b></p></td>\n  </tr>\n  <tr>\n   <td>Anne Scheiber</td>\n   <td>18.3% CAGR</td>\n   <td>50 years</td>\n   <td><p>Turned $5K into $22 million with no formal training, purely with<b>tax-efficient buy and hold blue-chip investing</b>.</p></td>\n  </tr>\n  <tr>\n   <td>John Templeton</td>\n   <td>300% from 1939 to 1943, 15.8% CAGR from 1954 to 1992</td>\n   <td>38 years</td>\n   <td>Market Cycles</td>\n  </tr>\n  <tr>\n   <td>Carl Icahn</td>\n   <td>14.6% CAGR vs 5.6% S&amp;P 500</td>\n   <td><p>2001 to 2016 (15 Years)</p></td>\n  </tr>\n  <tr>\n   <td>David Swenson</td>\n   <td>13.9% CAGR at Yale's Endowment (includes bonds and alternative assets) vs 10.7% S&amp;P 500</td>\n   <td>30 years</td>\n   <td><p>Alternative Asset Allocation</p></td>\n  </tr>\n  <tr>\n   <td>Geraldine Weiss</td>\n   <td>11.2% vs 9.8% S&amp;P 500</td>\n   <td>37 years</td>\n   <td><p><b>Best risk-adjusted track record</b>of any newsletter over 30 years according to Hubbert Financial Digest, popularized<b>dividend yield theory</b>(the only strategy she employed)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Combining these lessons, along with decades of market studies from leading research institutions and blue-chip analyst firms, I've determined that there are six fundamentals that over the long term will make you rich (assuming you have discretionary savings to invest of course).</p>\n<ul>\n <li>Portfolio risk-management</li>\n <li>safety</li>\n <li>quality</li>\n <li>yield</li>\n <li>growth</li>\n <li>and value</li>\n</ul>\n<p>When combined with patience, time, and discipline, these are what made the greatest investors in history the legends they are today.</p>\n<p>You and I may never match the returns of the legends, but if we practice disciplined financial science we can avoid costly mistakes, and focus on the highest probability/low-risk blue-chips.</p>\n<blockquote>\n It's remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.\" - Charlie Munger\n</blockquote>\n<p>These are the \"consistently not stupid\" decisions that made Charlie Munger and Warren Buffett so successful.</p>\n<p>Today I want to explain why I've recently opened a starter tracking position in speculative hyper-growth blue-chip Baidu (BIDU).</p>\n<p><img src=\"https://static.tigerbbs.com/d78b7d254783a9f8afc60962aa7d03ee\" tg-width=\"640\" tg-height=\"390\"></p>\n<p>All Chinese tech giants are suffering a bear market right now. But notice how Baidu recently fell 40% in a matter of weeks.</p>\n<blockquote>\n Baidu was also held by now-infamous hedge fund Archegos Capital Management at that time, which blew up during the same week. When the highly levered Archegos was unable to meet a margin call, banks seized Archegos' assets, including Baidu, and sold them off in massive blocks, accelerating Baidu's plunge.\" -Motley Fool\n</blockquote>\n<p>Institutional forced selling is one of the best opportunities for prudent long-term investors to buy the world's highest quality companies at mouth-watering prices.</p>\n<p><img src=\"https://static.tigerbbs.com/e09c272fe0a5f7a5052ea3021630d643\" tg-width=\"640\" tg-height=\"390\"></p>\n<p>Lowe's (LOW) and Realty Income (O) both plunged 25% on March 16th, due to institutional forced selling.</p>\n<p>In other words, when hedge funds get margin calls, they become the ultimate dumb money. Taking the other side of those trades can be the way to earn Buffett-like returns, through buying and holding blue-chip investing.</p>\n<p>So let me explain the four reasons why I consider it time to get greedy when others are fearful on Baidu.</p>\n<blockquote>\n Today I buy what others won't, so tomorrow I earn returns others can't.\"\n</blockquote>\n<blockquote>\n  - Paraphrase of Jerry Rice\n</blockquote>\n<p><b>Reason 1: A Speculative Blue-Chip Quality Company</b></p>\n<p>According to the 2017 study<i>Do Stocks Outperform Treasury Bills?</i>by Hendrik Bessembinder of Arizona State University's W.P. Carey School of Business 52% of all stocks, lose money over time.</p>\n<p>This study looked at 26,000 companies from 1926 to 2016 and found that about 12% went to zero.</p>\n<p><img src=\"https://static.tigerbbs.com/a6f826f65373ae3a2e4061f906c54bb2\" tg-width=\"640\" tg-height=\"508\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5868a6e0418dbe8596b0c667120b3a53\" tg-width=\"640\" tg-height=\"440\"><span>(Source: Bessembinder et al)</span></p>\n<p>From 1926 to 2016 over 3,000 US companies listed on US exchanges went bankrupt. 1,100 or about 4%, delivered 100% of net positive returns. Just 48% of stocks delivered positive returns.</p>\n<p>In other words, safety and quality are what can help you avoid the value traps that don't make any money or lose all of your savings.</p>\n<p>The Dividend Kings quality scores factor in 143 fundamental metrics covering</p>\n<ul>\n <li>dividend safety</li>\n <li>balance sheet strength</li>\n <li>short and long-term bankruptcy risk</li>\n <li>accounting and corporate fraud risk</li>\n <li>profitability and business model</li>\n <li>cost of capital</li>\n <li>long-term sustainability (ESG scores and trends from MSCI, Morningstar, and Reuters'/Refinitiv)</li>\n <li>management quality</li>\n <li>dividend friendly corporate culture/income dependability</li>\n <li>long-term total returns (a Ben Graham sign of quality)</li>\n</ul>\n<p>Our model actually includes over 1,000 metrics if you count everything factored in by eight rating agencies we use to assess fundamental risk.</p>\n<p>Every metric was selected based on</p>\n<ul>\n <li>decades of empirical data</li>\n <li>the experience of the greatest investors in history</li>\n <li>eight rating agencies</li>\n <li>and what blue-chip economists and analyst firms consider most closely correlated to a company's long-term success.</li>\n</ul>\n<p>Baidu's quality is 9/12 speculative blue-chip, meaning I recommend a 2.5% max risk cap position sizing.</p>\n<p><b>Dividend Kings Quality Rating System</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Quality Score</b></td>\n   <td><b>Meaning</b></td>\n   <td><b>Max Invested Capital Risk Recommendation</b></td>\n   <td><b>Margin Of Safety Potentially Good Buy</b></td>\n   <td><b>Strong Buy</b></td>\n   <td><b>Very Strong Buy</b></td>\n   <td><p><b>Ultra-Value Buy</b></p></td>\n  </tr>\n  <tr>\n   <td>3</td>\n   <td>Terrible, Very High Long-Term Bankruptcy Risk</td>\n   <td>0%</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td><p>NA (avoid)</p></td>\n  </tr>\n  <tr>\n   <td>4</td>\n   <td>Very Poor</td>\n   <td>0%</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td><p>NA (avoid)</p></td>\n  </tr>\n  <tr>\n   <td>5</td>\n   <td>Poor</td>\n   <td>0%</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td><p>NA (avoid)</p></td>\n  </tr>\n  <tr>\n   <td>6</td>\n   <td>Below-Average, Fallen Angels (very speculative)</td>\n   <td>1%</td>\n   <td>45%</td>\n   <td>55%</td>\n   <td>65%</td>\n   <td>75%</td>\n  </tr>\n  <tr>\n   <td>7</td>\n   <td>Average (Relative to S&amp;P 500)</td>\n   <td>2.5%</td>\n   <td>35%</td>\n   <td>45%</td>\n   <td>55%</td>\n   <td>65%</td>\n  </tr>\n  <tr>\n   <td>8</td>\n   <td>Above-Average</td>\n   <td>5% (unless speculative then 2.5%)</td>\n   <td>25% to 30%</td>\n   <td>35% to 40%</td>\n   <td>45% to 50%</td>\n   <td><p>55% to 60%</p></td>\n  </tr>\n  <tr>\n   <td><b>9</b></td>\n   <td><b>Blue-Chip</b></td>\n   <td>7% (unless<b>speculative</b>then<b>2.5%</b>)</td>\n   <td>20% to<b>25%</b></td>\n   <td>30% to<b>35%</b></td>\n   <td>40% to<b>45%</b></td>\n   <td><p>50% to<b>55%</b></p></td>\n  </tr>\n  <tr>\n   <td>10</td>\n   <td>SWAN (a higher caliber of Blue-Chip)</td>\n   <td>7% (unless speculative then 2.5%)</td>\n   <td>15% to 20%</td>\n   <td>25% to 30%</td>\n   <td>35% to 40%</td>\n   <td><p>45% to 50%</p></td>\n  </tr>\n  <tr>\n   <td>11</td>\n   <td>Super SWAN (exceptionally dependable blue-chips)</td>\n   <td>7% (unless speculative then 2.5%)</td>\n   <td>10% to 15%</td>\n   <td>20% to 25%</td>\n   <td>30% to 35%</td>\n   <td><p>40% to 45%</p></td>\n  </tr>\n  <tr>\n   <td>12</td>\n   <td>Ultra SWAN (as close to perfect companies as exist)</td>\n   <td>7% (unless speculative then 2.5%)</td>\n   <td>5% to 10%</td>\n   <td>15% to 20%</td>\n   <td>25% to 30%</td>\n   <td><p>35% to 40%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>What exactly makes Baidu a speculative blue-chip?</p>\n<p><b>Balance Sheet Safety</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Rating</b></td>\n   <td><b>Dividend Kings Safety Score (75 Safety Metric Model)</b></td>\n   <td><b>Approximate Dividend Cut Risk (Average Recession)</b></td>\n   <td><p><b>Approximate Dividend Cut Risk In Pandemic Level Recession</b></p></td>\n  </tr>\n  <tr>\n   <td>1 (very unsafe)</td>\n   <td>0% to 20%</td>\n   <td>over 4%</td>\n   <td>16+%</td>\n  </tr>\n  <tr>\n   <td>2 (unsafe average)</td>\n   <td>21% to 40%</td>\n   <td>over 2%</td>\n   <td>8% to 16%</td>\n  </tr>\n  <tr>\n   <td>3 (average)</td>\n   <td>41% to 60%</td>\n   <td>2%</td>\n   <td>4% to 8%</td>\n  </tr>\n  <tr>\n   <td><b>4 (safe)</b></td>\n   <td><b>61% to 80%</b></td>\n   <td><b>1%</b></td>\n   <td><b>2% to 4%</b></td>\n  </tr>\n  <tr>\n   <td>5 (very safe)</td>\n   <td>81% to 100%</td>\n   <td>0.5%</td>\n   <td>1% to 2%</td>\n  </tr>\n  <tr>\n   <td><b>BIDU</b></td>\n   <td><b>76%</b></td>\n   <td><b>A stable rating from Fitch, A3 (A- equivalent) stable rating Moody's</b></td>\n   <td><b>0.66% to 2.5% 30-year default/bankruptcy risk</b></td>\n  </tr>\n </tbody>\n</table>\n<p><b>Long-Term Dependability</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Company</b></td>\n   <td><b>DK Long-Term Dependability Score</b></td>\n   <td><b>Interpretation</b></td>\n   <td><b>Points</b></td>\n  </tr>\n  <tr>\n   <td>S&amp;P 500/Industry Average</td>\n   <td>58%</td>\n   <td>Average Dependability</td>\n   <td>2</td>\n  </tr>\n  <tr>\n   <td>Non-Dependable Companies</td>\n   <td>31% or below</td>\n   <td>Poor Dependability</td>\n   <td>1</td>\n  </tr>\n  <tr>\n   <td>Relatively Dependable Companies</td>\n   <td>32% to 70%</td>\n   <td>Below to Above-Average Dependability</td>\n   <td>2</td>\n  </tr>\n  <tr>\n   <td>Very Dependable Companies</td>\n   <td>71% to 80%</td>\n   <td>Very Dependable</td>\n   <td>3</td>\n  </tr>\n  <tr>\n   <td>Exceptionally Dependable Companies</td>\n   <td>81% or higher</td>\n   <td>Exceptional Dependability</td>\n   <td>4</td>\n  </tr>\n  <tr>\n   <td><b>BIDU</b></td>\n   <td><b>67%</b></td>\n   <td><b>Above-Average Dependability</b></td>\n   <td><b>2</b></td>\n  </tr>\n </tbody>\n</table>\n<p><b>Overall Quality</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>BIDU</b></td>\n   <td><b>Final Score</b></td>\n   <td><b>Rating</b></td>\n  </tr>\n  <tr>\n   <td>Safety</td>\n   <td>76%</td>\n   <td>4/5</td>\n  </tr>\n  <tr>\n   <td>Business Model</td>\n   <td>80%</td>\n   <td>3/3</td>\n  </tr>\n  <tr>\n   <td>Dependability</td>\n   <td>67%</td>\n   <td>2/4</td>\n  </tr>\n  <tr>\n   <td><b>Total</b></td>\n   <td><b>73%</b></td>\n   <td><b>9/12 Speculative Blue-Chip</b></td>\n  </tr>\n </tbody>\n</table>\n<p><b>Baidu is the 245th Highest Quality Master List Company (Out of 495) = 49th Percentile</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/927ef17638b4bbf9db4e34f1aeb01a61\" tg-width=\"640\" tg-height=\"241\"><span>(Source: DK Safety &amp; Quality Tool) updated at the end of each day, sorted by overall quality score</span></p>\n<ul>\n <li>green = potentially good buy or better</li>\n <li>blue = potentially reasonable buy</li>\n <li>yellow = hold</li>\n <li>red = potential trim/sell</li>\n</ul>\n<p>BIDU's 73% quality score means it's the 245th highest quality company on the DK 500 Master List. This list includes the world's highest quality companies including</p>\n<ul>\n <li>all dividend champions</li>\n <li>all dividend aristocrats</li>\n <li>all dividend kings</li>\n <li>all 12/12 Ultra SWANs (as close to perfect quality as exists on Wall Street, think wide moat aristocrats)</li>\n <li>numerous global aristocrats (such as BTI, ENB, and NVS)</li>\n</ul>\n<p>BIDU is about average quality compared to the world's elite companies and similar in quality to such 9/12 blue-chips and, 10/12 SWANs, as</p>\n<ul>\n <li>Qualcomm (QCOM)</li>\n <li>Becton, Dickinson and Company (BDX) - dividend aristocrat</li>\n <li>W. P. Carey (WPC)</li>\n <li>Sonoco Products (SON) - dividend champion</li>\n <li>H.B. Fuller (FUL) - dividend king</li>\n <li>MetLife (MET)</li>\n <li>Digital Realty Trust (DLR)</li>\n <li>Leggett &amp; Platt (LEG) - dividend aristocrat</li>\n <li>V.F. Corp (VFC) - dividend aristocrat</li>\n <li>Bank of New York Mellon (BK)</li>\n</ul>\n<p>Baidu has a strong cash-rich balance sheet, though it is taking on extra leverage in order to fund its ambitious growth efforts.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d4c7bc8d9da039967a0ce9e435f7b6eb\" tg-width=\"449\" tg-height=\"462\"><span>(Source: Gurufocus Premium)</span></p>\n<p>Including leasing expenses, BIDU has 2X as much cash as debt.</p>\n<p>Fitch and Moody's rate Baidu A stable and A3 (A- equivalent) stable outlooks, indicating 0.66% to 2.5% 30-year default/bankruptcy risk.</p>\n<p>Analysts expect much higher spending in the short-term to cause leverage to increase, though rating agencies don't expect this to be permanent.</p>\n<p>The key safety ratios with Baidu are the F, Z, and M scores, advanced accounting ratios created by leading research institutions that use asset ratios scanned from quarterly filings.</p>\n<ul>\n <li>F-score measures short-term bankruptcy risk</li>\n <li>Z-score measures 2-year bankruptcy risk (with 84% to 92% historical accuracy)</li>\n <li>M-score measures accounting fraud risk (with 76% historical accuracy)</li>\n</ul>\n<p>7/9 is very safe on the F-score = very low short-term bankruptcy risk.</p>\n<p>3.59 vs 3+ very safe and 9.51 historical, confirms the A-credit ratings and low long-term risk of losing all your money.</p>\n<p>And the M-score of -2.42 indicates a significantly less than 17.5% probability that Baidu is cooking its books.</p>\n<p><img src=\"https://static.tigerbbs.com/0593cdfc392caf38a9d7ca42c482c359\" tg-width=\"640\" tg-height=\"245\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6110ac3a73c5c935e0778da21e6eb62e\" tg-width=\"640\" tg-height=\"297\"><span>(Source: Gurufocus)</span></p>\n<p>BIDU's historically unsafe M-score has been improving and became safe at the end of 2014 and has remained so for the last seven years.</p>\n<ul>\n <li>its safety and quality score still get dinged though because we factor in every important metric so we don't miss any warning signs</li>\n</ul>\n<p>The M-score is 76% historically accurate at catching accounting fraud and 82.5% accurate at finding companies with honest accounting.</p>\n<p>Combined with its credit ratings and risk ratings from 5 different rating agencies, plus its auditors, I can say with relatively high confidence that Baidu is not the next Luckin Coffee.</p>\n<p>Quality is a proven alpha factor, one of seven that beats the market over the long term.</p>\n<p><img src=\"https://static.tigerbbs.com/d4868372d29cef8d5b07fc5a538fb58e\" tg-width=\"640\" tg-height=\"273\"></p>\n<p>On Wall Street, profitability over time is the most accurate proxy for quality.</p>\n<ul>\n <li>credit ratings are one of the best qualitative quality proxies</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b0c8a6a2913d554a5c9780f869d7a887\" tg-width=\"445\" tg-height=\"430\"><span>(Source: Gurufocus Premium)</span></p>\n<p>Baidu's profitability is historically in the top 20% of its peers, confirming a wide and stable moat.</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Metric</b></td>\n   <td><b>Industry Percentile</b></td>\n   <td><b>Major Interactive Media Companies More Profitable Than BIDU (Out of 543)</b></td>\n  </tr>\n  <tr>\n   <td>Operating Margin</td>\n   <td>67.35</td>\n   <td>177</td>\n  </tr>\n  <tr>\n   <td>Net Margin</td>\n   <td>81.26</td>\n   <td>102</td>\n  </tr>\n  <tr>\n   <td>Return On Equity</td>\n   <td>67.86</td>\n   <td>175</td>\n  </tr>\n  <tr>\n   <td>Return On Assets</td>\n   <td>68.47</td>\n   <td>171</td>\n  </tr>\n  <tr>\n   <td>Return On Capital</td>\n   <td>69.61</td>\n   <td>165</td>\n  </tr>\n  <tr>\n   <td><b>Average</b></td>\n   <td><b>70.91</b></td>\n   <td><b>158</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: Gurufocus Premium)</i></p>\n<p>Over the last year, increased growth spending has reduced profitability to the top 29% of peers, though that's expected to recover in the future.</p>\n<ul>\n <li>for example, returns on equity are expected to rise 10% by 2024</li>\n</ul>\n<p>Joel Greenblatt defined quality by return on capital, his gold standard proxy for quality and moatiness.</p>\n<ul>\n <li>operating income (EBIT)/operating capital (the money it takes to run the business for a year)</li>\n</ul>\n<p>Greenblatt's entire legendary track record, 40% annual returns for 21 years, was done by combining high ROC with low valuations.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a5d43fa9d5032a24362f75054f2a9e93\" tg-width=\"640\" tg-height=\"292\"><span>(Source: Gurufocus Premium)</span></p>\n<p>Even with heavy growth spending in recent years, Baidu's returns on capital are very impressive.</p>\n<p>The average Master List company has 88% ROC.</p>\n<p>The average aristocrat 83%.</p>\n<p>The average Ultra SWAN 87%.</p>\n<p>Over the past year, BIDU's ROC has been 103% and in Q4 it was 95%.</p>\n<p>Analysts expect that in the next few years, ROC will revert back to its historical 205%.</p>\n<p>A level of profitability that, according to Joel Greenblatt, would make BIDU one of the highest quality companies in the world.</p>\n<p>Baidu's future growth is expected to come from aggressive investments into driverless cars (long-term) and AI and streaming in the short and medium term.</p>\n<p><b>Baidu Growth Spending Consensus Forecast</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Year</b></td>\n   <td><b>SG&amp;A</b></td>\n   <td><b>R&amp;D</b></td>\n   <td><b>Capex</b></td>\n   <td><b>Total Growth Spending</b></td>\n   <td><b>Sales</b></td>\n   <td><p><b>Growth Spending/Sales</b></p></td>\n  </tr>\n  <tr>\n   <td>2020</td>\n   <td>$2,792</td>\n   <td>$3,016</td>\n   <td>$993</td>\n   <td>$4,009</td>\n   <td>$16,548</td>\n   <td>24.23%</td>\n  </tr>\n  <tr>\n   <td>2021</td>\n   <td>$3,574</td>\n   <td>$3,554</td>\n   <td>$1,893</td>\n   <td>$5,447</td>\n   <td>$19,517</td>\n   <td>27.91%</td>\n  </tr>\n  <tr>\n   <td>2022</td>\n   <td>$3,974</td>\n   <td>$4,062</td>\n   <td>$2,220</td>\n   <td>$6,282</td>\n   <td>$22,235</td>\n   <td>28.25%</td>\n  </tr>\n  <tr>\n   <td>2023</td>\n   <td>$5,049</td>\n   <td>$5,858</td>\n   <td>$2,719</td>\n   <td>$8,577</td>\n   <td>$25,258</td>\n   <td>33.96%</td>\n  </tr>\n  <tr>\n   <td>2024</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>$1,504</td>\n   <td>NA</td>\n   <td>$30,071</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>2025</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>2026</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td><b>Annualized Growth</b></td>\n   <td><b>21.83%</b></td>\n   <td><b>24.77%</b></td>\n   <td><b>10.94%</b></td>\n   <td><b>28.85%</b></td>\n   <td><b>16.10%</b></td>\n   <td><b>NA</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: FactSet Research Terminal)</i></p>\n<p>Historically Baidu spends about 17% of its revenue on growth. By 2023 that's expected to double.</p>\n<p>Total growth spending is expected to grow at almost 30% annually for the next three years.</p>\n<p>Baidu Consensus Profit Forecast</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Year</b></td>\n   <td><b>Sales</b></td>\n   <td><b>FCF</b></td>\n   <td><b>EBITDA</b></td>\n   <td><b>EBIT (Operating Income)</b></td>\n   <td><b>Net Income</b></td>\n  </tr>\n  <tr>\n   <td>2020</td>\n   <td>$16,548</td>\n   <td>$2,106</td>\n   <td>$4,251</td>\n   <td>$2,216</td>\n   <td>$3,473</td>\n  </tr>\n  <tr>\n   <td>2021</td>\n   <td>$19,517</td>\n   <td>$3,947</td>\n   <td>$4,734</td>\n   <td>$2,629</td>\n   <td>$2,760</td>\n  </tr>\n  <tr>\n   <td>2022</td>\n   <td>$22,235</td>\n   <td>$5,013</td>\n   <td>$5,812</td>\n   <td>$3,400</td>\n   <td>$3,381</td>\n  </tr>\n  <tr>\n   <td>2023</td>\n   <td>$25,258</td>\n   <td>$5,854</td>\n   <td>$6,730</td>\n   <td>$4,163</td>\n   <td>$4,226</td>\n  </tr>\n  <tr>\n   <td>2024</td>\n   <td>$30,071</td>\n   <td>$7,421</td>\n   <td>NA</td>\n   <td>$6,195</td>\n   <td>$5,268</td>\n  </tr>\n  <tr>\n   <td><b>Annualized Growth</b></td>\n   <td><b>16.10%</b></td>\n   <td><b>37.01%</b></td>\n   <td><b>16.55%</b></td>\n   <td><b>29.31%</b></td>\n   <td><b>10.98%</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: FactSet Research Terminal)</i></p>\n<p>Management's guidance, which is the basis for these consensus forecasts, is for strong revenue growth. Net margins are expected to compress but cash flows are expected to soar.</p>\n<p>Free cash flow, the ultimate source of all intrinsic value according to Ben Graham and Warren Buffett, is expected to more than triple by 2024.</p>\n<p>Baidu Consensus Margin Forecast</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Year</b></td>\n   <td><b>FCF Margin</b></td>\n   <td><b>EBITDA Margin</b></td>\n   <td><b>EBIT (Operating) Margin</b></td>\n   <td><b>Net Margin</b></td>\n  </tr>\n  <tr>\n   <td>2020</td>\n   <td>12.7%</td>\n   <td>25.7%</td>\n   <td>13.4%</td>\n   <td>21.0%</td>\n  </tr>\n  <tr>\n   <td>2021</td>\n   <td>20.2%</td>\n   <td>24.3%</td>\n   <td>13.5%</td>\n   <td>14.1%</td>\n  </tr>\n  <tr>\n   <td>2022</td>\n   <td>22.5%</td>\n   <td>26.1%</td>\n   <td>15.3%</td>\n   <td>15.2%</td>\n  </tr>\n  <tr>\n   <td>2023</td>\n   <td>23.2%</td>\n   <td>26.6%</td>\n   <td>16.5%</td>\n   <td>16.7%</td>\n  </tr>\n  <tr>\n   <td>2024</td>\n   <td>24.7%</td>\n   <td>NA</td>\n   <td>20.6%</td>\n   <td>17.5%</td>\n  </tr>\n  <tr>\n   <td><b>Annualized Growth</b></td>\n   <td><b>18.01%</b></td>\n   <td><b>1.23%</b></td>\n   <td><b>11.37%</b></td>\n   <td><b>-4.42%</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: FactSet Research Terminal)</i></p>\n<p>Baidu's profitability is ultimately expected to improve, though net margins won't until its major growth initiatives are over.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ee8691866fef56c1dd17062657e10811\" tg-width=\"640\" tg-height=\"320\"><span>(Source: FactSet Research Terminal)</span></p>\n<p>BIDU ended 2020 with $5.6 billion in cash, and that's expected to rise to $22 billion by 2023, and potentially nearly $60 billion by 2024.</p>\n<p>That may not be as impressive as some tech companies ($601 billion by 2026 for Amazon), but it does mean that Baidu's war chest and financial flexibility to pivot towards AI, driverless cars, and streaming will grow significantly in future years.</p>\n<p>Baidu Medium-Term Growth Consensus</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Metric</b></td>\n   <td><b>2020 Actual Growth</b></td>\n   <td><b>2021 consensus growth</b></td>\n   <td><b>2022 consensus growth</b></td>\n   <td><p><b>2023 consensus growth</b></p></td>\n  </tr>\n  <tr>\n   <td>EPS</td>\n   <td>31%</td>\n   <td>7%</td>\n   <td>18%</td>\n   <td>16%</td>\n  </tr>\n  <tr>\n   <td>Owner Earnings (Buffett smoothed out FCF)</td>\n   <td>124%</td>\n   <td>22%</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>Operating Cash Flow</td>\n   <td>-14%</td>\n   <td>59%</td>\n   <td>31%</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td>Free cash flow</td>\n   <td>96%</td>\n   <td>85%</td>\n   <td>22%</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>EBITDA</td>\n   <td>-18%</td>\n   <td>53%</td>\n   <td>27%</td>\n   <td>24%</td>\n  </tr>\n  <tr>\n   <td>EBIT (operating income)</td>\n   <td>130%</td>\n   <td>26%</td>\n   <td>26%</td>\n   <td>19%</td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: F.A.S.T. Graphs, FactSet Research)</i></p>\n<p>In the next few years, Baidu's growth efforts are expected to result in strong growth. But what's attracted me to the Google of China, is that this hyper-growth is expected to continue for many years to come.</p>\n<p><b>Reason 2: Long-Term Hyper-Growth Potential</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bdfa536609dc32efe57d7af85154ddbf\" tg-width=\"640\" tg-height=\"412\"><span>(Source: FactSet Research Terminal)</span></p>\n<p>BIDU's AI, streaming, and driverless car investments are showing up in \"other services\" and that revenue is expected to grow almost 50% in 3 years.</p>\n<p><img src=\"https://static.tigerbbs.com/d0a582df968d9cfaf4a09f2f2984f522\" tg-width=\"640\" tg-height=\"373\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/72ab775d253a2fbce4a1a5001922e0b8\" tg-width=\"640\" tg-height=\"394\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<ul>\n <li>16.0% to 17.5% long-term growth consensus range</li>\n <li>6% to 28% growth consensus range adjusted for historical margin of error</li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/6ae4ef54819e7f58c95b2f21ced20393\" tg-width=\"640\" tg-height=\"336\"><img src=\"https://static.tigerbbs.com/705d5218e7d882c4c52948d4f47fbb5e\" tg-width=\"640\" tg-height=\"341\"></p>\n<p>The margins of error on BIDU forecasts are very wide. 33% of the time it grows much faster than expected, 33% of the time much slower, and 33% of the about as fast as expected.</p>\n<ul>\n <li>margins of error over the last decade (excluding outliers) are 60% to the downside, 55% to the upside</li>\n <li>the long-term growth consensus range: 16% to 18% CAGR</li>\n <li>the margin of error adjusted long-term analyst growth consensus range: 6% to 28% CAGR</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/73c38a8847c12ffd67928559c978ff18\" tg-width=\"640\" tg-height=\"407\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>BIDU's historical growth is from -9% to 52%. So relatively high growth uncertainty, more so than most tech blue-chips.</p>\n<ul>\n <li>and thus the $650 investment vs $10K in GOOG, $89K in BABA, and $200K in Amazon</li>\n</ul>\n<p>However, analysts expect growth to be similar to the 20% growth of the last decade.</p>\n<p>And at today's high margin of safety, we're likely getting a good deal to compensate for BIDU's growth uncertainty and complex risk profile.</p>\n<p><b>Reason 3: Highly Attractive Valuation</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f3ad1e7e41458b1bdc4f379d7917692\" tg-width=\"640\" tg-height=\"414\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>BIDU growing at the rates analysts expect in the future has historically been valued at 23X to 26X earnings.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fbd2ab20e70f34f53bc7768feb9b6a24\" tg-width=\"640\" tg-height=\"334\"><span>(Source: FactSet Research Terminal)</span></p>\n<p>BIDU is currently trading at 20.4X forward earnings and 13.6X EV/EBITDA.</p>\n<p>EV/EBITDA is market cap + net debt/EBITDA and is Joel Greenblatt's and private equity's favorite valuation metric.</p>\n<p>Baidu's 13-year median EV/EBITDA is 23.2, and its trading at 13.6, implying a potential 42% discount to fair value.</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Metric</b></td>\n   <td><b>Historical Fair Value (12-years)</b></td>\n   <td><b>2020</b></td>\n   <td><b>2021</b></td>\n   <td><b>2022</b></td>\n   <td><b>2023</b></td>\n  </tr>\n  <tr>\n   <td>Earnings</td>\n   <td>25.0</td>\n   <td>$243.87</td>\n   <td>$261.27</td>\n   <td>$307.91</td>\n   <td>$357.77</td>\n  </tr>\n  <tr>\n   <td>Owner Earnings (Buffett smoothed out FCF) - 10 yr</td>\n   <td>23.5</td>\n   <td>$324.46</td>\n   <td>$394.46</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>Operating Cash Flow</td>\n   <td>19.9</td>\n   <td>$202.33</td>\n   <td>$321.22</td>\n   <td>$420.37</td>\n   <td>$448.64</td>\n  </tr>\n  <tr>\n   <td>Free Cash Flow (11-yr)</td>\n   <td>27.5</td>\n   <td>$220.77</td>\n   <td>$408.53</td>\n   <td>$497.28</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>EBITDA</td>\n   <td>22.0</td>\n   <td>$190.60</td>\n   <td>$291.18</td>\n   <td>$370.80</td>\n   <td>$459.36</td>\n  </tr>\n  <tr>\n   <td>EBIT (operating income)</td>\n   <td>34.5</td>\n   <td>$207.78</td>\n   <td>$261.14</td>\n   <td>$328.78</td>\n   <td>$392.83</td>\n  </tr>\n  <tr>\n   <td><b>Average</b></td>\n   <td><b>$224.60</b></td>\n   <td><b>$312.71</b></td>\n   <td><b>$373.81</b></td>\n   <td><b>$410.40</b></td>\n  </tr>\n  <tr>\n   <td>Current Price</td>\n   <td>$215.83</td>\n  </tr>\n  <tr>\n   <td><p><b>Discount To Fair Value</b></p></td>\n   <td><b>3.91%</b></td>\n   <td><b>30.98%</b></td>\n   <td><b>42.26%</b></td>\n   <td><b>47.41%</b></td>\n  </tr>\n  <tr>\n   <td><i><b>Upside To Fair Value</b></i></td>\n   <td><i><b>4%</b></i></td>\n   <td><i><b>45%</b></i></td>\n   <td><i><b>73%</b></i></td>\n   <td><i><b>90%</b></i></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: F.A.S.T. Graphs, FactSet Research)</i></p>\n<p>BIDU is about 31% historically undervalued right now, meaning that if it grows as expected through 2023 and returns to fair value that's 90% upside potential.</p>\n<ul>\n <li>$350 is the median 12-month price target</li>\n <li>65% upside potential over the next 12 months according to analysts</li>\n</ul>\n<p>And that guestimate is 100% justified by fundamentals.</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Rating</b></td>\n   <td><b>Margin Of Safety For Speculative 9/12 Blue-Chip Quality Companies</b></td>\n   <td><b>2020 Price</b></td>\n   <td><b>2021 Price</b></td>\n   <td><b>2022 Price</b></td>\n  </tr>\n  <tr>\n   <td>Potentially Reasonable Buy</td>\n   <td>0%</td>\n   <td>$224.60</td>\n   <td>$312.71</td>\n   <td>$373.81</td>\n  </tr>\n  <tr>\n   <td><b>Potentially Good Buy</b></td>\n   <td><b>25%</b></td>\n   <td><b>$168.45</b></td>\n   <td><b>$234.53</b></td>\n   <td><b>$280.35</b></td>\n  </tr>\n  <tr>\n   <td>Potentially Strong Buy</td>\n   <td>35%</td>\n   <td>$145.99</td>\n   <td>$203.26</td>\n   <td>$242.97</td>\n  </tr>\n  <tr>\n   <td>Potentially Very Strong Buy</td>\n   <td>45%</td>\n   <td>$123.53</td>\n   <td>$171.99</td>\n   <td>$205.59</td>\n  </tr>\n  <tr>\n   <td>Potentially Ultra-Value Buy</td>\n   <td>55%</td>\n   <td>$101.07</td>\n   <td>$140.72</td>\n   <td>$168.21</td>\n  </tr>\n  <tr>\n   <td><b>Currently</b></td>\n   <td><b>$213.41</b></td>\n   <td><b>5%</b></td>\n   <td><b>32%</b></td>\n   <td><b>43%</b></td>\n  </tr>\n  <tr>\n   <td><p>Upside To Fair Value (Not Including Dividends)</p></td>\n   <td>5%</td>\n   <td>47%</td>\n   <td>75%</td>\n  </tr>\n </tbody>\n</table>\n<p>At a 32% margin of safety, Baidu, despite all its risks, is a potentially good buy for more risk-tolerant investors.</p>\n<p>But the ability to potentially enjoy monster short-term gains is just the cherry on top with Baidu.</p>\n<p><b>Reason 4: Eye-Popping Long-Term Return Potential</b></p>\n<p>Here is a reasonable idea of what kind of returns you can expect buying BIDU today.</p>\n<p><b>Baidu 2023 Consensus Return Potential</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/15f5606b2eaa042608497f68998a69cc\" tg-width=\"640\" tg-height=\"385\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>If BAIDU grows as analysts expect through 2023, and returns to historical fair value, then analysts expect</p>\n<ul>\n <li>75% total returns</li>\n <li>23.3% CAGR returns</li>\n <li>vs -1.3% CAGR S&amp;P 500</li>\n</ul>\n<p>From its 31% discount, BIDU has the potential to outperform the 36% overvalued S&amp;P 500 by 78% over the next three years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7be8ed919f810734d99f50b4b14741dd\" tg-width=\"640\" tg-height=\"405\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>Corporate earnings growth estimates are rising by the day. Yet the market has already priced in three years of earnings growth totaling 62% or 17.4% CAGR.</p>\n<p>Over the long term, BIDU's return outlook is also very strong.</p>\n<p><b>Baidu 2026 Consensus Return Potential</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9aef71a5e564b122341a52dec05bb34\" tg-width=\"640\" tg-height=\"405\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>If BIDU grows as analysts expect through 2026 and returns to historical fair value you could expect</p>\n<ul>\n <li>179% total returns</li>\n <li>19.8% CAGR</li>\n <li>vs 4.5% CAGR S&amp;P 500</li>\n <li><i><b>4.4X better than the market's consensus return potential</b></i></li>\n</ul>\n<p>If BIDU delivers as analysts expect, then buying today could almost triple your money in the next five years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/935c135e000c240df768640b47826e5c\" tg-width=\"640\" tg-height=\"453\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>Over the long term, analysts expect</p>\n<ul>\n <li>0% yield + 17.5% growth = 17.5% CAGR very long-term total returns (after valuation changes cancel out)</li>\n <li>6% to 28% CAGR range</li>\n <li>vs 7.8% for the S&amp;P and 10.8% for the dividend aristocrats</li>\n</ul>\n<p><b>Baidu Total Returns Since 2006</b></p>\n<p><img src=\"https://static.tigerbbs.com/cfe7969e52431f689a9737c4c48401e1\" tg-width=\"640\" tg-height=\"124\"><img src=\"https://static.tigerbbs.com/08f72f9d45d8f32d950ea367c84cb531\" tg-width=\"640\" tg-height=\"297\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/40bd03cb49698c42f76664151bd05cf5\" tg-width=\"640\" tg-height=\"298\"><span>(Source: Portfolio Visualizer)</span></p>\n<p>In the last 15 years, BIDU has turned $1 into $26, adjusted for inflation, and crushed the market with 8X more wealth compounding.</p>\n<p>It's expected to grow slightly slower than in the past, but the ability to potentially enjoy 17.5% hyper-growth for many years is incredibly attractive.</p>\n<p><b>Baidu Vs S&amp;P 500 Vs Dividend Aristocrat Inflation-Adjusted Total Return Forecast: $650 Initial Investment</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Time Frame (Years)</b></td>\n   <td><b>5.8% LT Inflation-Adjusted Returns (S&amp;P Consensus)</b></td>\n   <td><b>8.8% Inflation-Adjusted Returns (aristocrat consensus)</b></td>\n   <td><b>15.5% Inflation-Adjusted Returns (BIDU consensus)</b></td>\n  </tr>\n  <tr>\n   <td>5</td>\n   <td>$1,325.65</td>\n   <td>$1,524.56</td>\n   <td>$1,336.05</td>\n  </tr>\n  <tr>\n   <td><b>10</b></td>\n   <td><b>$1,757.34</b></td>\n   <td><b>$2,324.28</b></td>\n   <td><b>$2,746.21</b></td>\n  </tr>\n  <tr>\n   <td>15</td>\n   <td>$2,329.62</td>\n   <td>$3,543.51</td>\n   <td>$5,644.73</td>\n  </tr>\n  <tr>\n   <td>20</td>\n   <td>$3,088.26</td>\n   <td>$5,402.29</td>\n   <td>$11,602.54</td>\n  </tr>\n  <tr>\n   <td>25</td>\n   <td>$4,093.94</td>\n   <td>$8,236.11</td>\n   <td>$23,848.60</td>\n  </tr>\n  <tr>\n   <td><b>30</b></td>\n   <td><b>$5,427.13</b></td>\n   <td><b>$12,556.45</b></td>\n   <td><b>$49,019.95</b></td>\n  </tr>\n  <tr>\n   <td>35</td>\n   <td>$7,194.46</td>\n   <td>$19,143.06</td>\n   <td>$100,758.76</td>\n  </tr>\n  <tr>\n   <td>40</td>\n   <td>$9,537.33</td>\n   <td>$29,184.74</td>\n   <td>$207,106.02</td>\n  </tr>\n  <tr>\n   <td>45</td>\n   <td>$12,643.14</td>\n   <td>$44,493.88</td>\n   <td>$425,699.02</td>\n  </tr>\n  <tr>\n   <td><b>50</b></td>\n   <td><b>$16,760.36</b></td>\n   <td><b>$67,833.58</b></td>\n   <td><b>$875,009.10</b></td>\n  </tr>\n </tbody>\n</table>\n<p>The ability to grow 2X to 3X as fast as the S&amp;P 500 or aristocrats creates the potential for wealth compounding on a massive scale. Look at how large my $650 initial BIDU investment can grow, assuming analysts are right and management delivers the expected growth over time.</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Time Frame (Years)</b></td>\n   <td><b>Ratio S&amp;P vs Aristocrat Consensus</b></td>\n   <td><b>Ratio S&amp;P vs BIDU consensus</b></td>\n  </tr>\n  <tr>\n   <td>5</td>\n   <td>1.15</td>\n   <td>1.01</td>\n  </tr>\n  <tr>\n   <td><b>10</b></td>\n   <td><b>1.32</b></td>\n   <td><b>1.56</b></td>\n  </tr>\n  <tr>\n   <td>15</td>\n   <td>1.52</td>\n   <td>2.42</td>\n  </tr>\n  <tr>\n   <td>20</td>\n   <td>1.75</td>\n   <td>3.76</td>\n  </tr>\n  <tr>\n   <td>25</td>\n   <td>2.01</td>\n   <td>5.83</td>\n  </tr>\n  <tr>\n   <td><b>30</b></td>\n   <td><b>2.31</b></td>\n   <td><b>9.03</b></td>\n  </tr>\n  <tr>\n   <td>35</td>\n   <td>2.66</td>\n   <td>14.01</td>\n  </tr>\n  <tr>\n   <td>40</td>\n   <td>3.06</td>\n   <td>21.72</td>\n  </tr>\n  <tr>\n   <td>45</td>\n   <td>3.52</td>\n   <td>33.67</td>\n  </tr>\n  <tr>\n   <td><b>50</b></td>\n   <td><b>4.05</b></td>\n   <td><b>52.21</b></td>\n  </tr>\n </tbody>\n</table>\n<p>Over the long term, the aristocrats are expected to quadruple the S&amp;P 500's wealth compounding. Baidu could potentially deliver 52X as much wealth as the S&amp;P 500.</p>\n<p>Is Baidu likely to grow 17.5% for 50 years? Probably not. But even if it can deliver just 10 to 20 years of hyper-growth, when combined with its attractive current valuation, that's worthy of a small initial investment in my book.</p>\n<p><b>Risk Profile: Why Baidu Isn't Right For Everyone</b></p>\n<p>There are no risk-free companies and no company is right for everyone. You have to be comfortable with the fundamental risk profile.</p>\n<p><b>Fundamental Risk Summary</b></p>\n<blockquote>\n We think Baidu faces high levels of risk, given intense competition along with questions as to whether its AI-related investment will generate satisfactory returns.\n</blockquote>\n<blockquote>\n Though Baidu is the largest search engine in China, it is competing with the other two Internet giants, Tencent and Alibaba, and Google’s potential return to the Chinese search market is also a threat.\n</blockquote>\n<blockquote>\n Regarding the search engine business, Tencent invested in Sogou, and Alibaba acquired UC Web, which owns a mobile search engine, Shenma. Competition has extended to each key area of mobile Internet usage, such as navigation, O2O services, online video services, and so on. Baidu’s margins have been significantly dragged down by aggressive spending in video content and O2O marketing but recovered to 18.5% in 2017 from 14.2% in 2016 as Baidu divested margin-dilutive businesses.\n</blockquote>\n<blockquote>\n The major Internet companies in China have been investing in AI-related business, such as cloud computing, voice and image recognition, and autonomously driven cars. At the current stage,\n <b>it is difficult to predict whether Baidu will be the final winner in AI and whether the returns will reward its investment.</b>\n</blockquote>\n<blockquote>\n In addition, regulatory risk is a concern. Following the Wei Zexi incident in early 2016, Chinese authorities launched new regulations for online search and advertising, which clearly defined paid search results as advertising. These regulations took effect on Sept. 1, 2016. Given stricter standards for online advertisers, Baidu’s online marketing services revenue growth declined to 1% in 2016. If the local authorities release more policies regarding Internet business, such as online advertising and online finance, Baidu’s revenue could be negatively affected.\n</blockquote>\n<blockquote>\n Since 2017, Baidu has discontinued the disclosure of MAUs for its mobile search and mobile maps, which is possibly due to weaker numbers.\" - Morningstar\n</blockquote>\n<p>BIDU's pivot into the technology of the future is potentially like Satya Nadella taking MSFT into the pure cloud-driven strategy.</p>\n<p>Or it could be like IBM's Watson-based flaying, major promise but poor execution over time.</p>\n<blockquote>\n Baidu has the urgency to strengthen its mobile business because it has not developed another industry-leading business other than its mobile search app for years.\n</blockquote>\n<blockquote>\n Baidu’s share of mobile time spend reduced to 6.9% in March 2019 from 7.3% year over year. Baidu positions its flagship Baidu app (173 million daily average users in March 2019) as a \"super\" app that can serve a wide range of users' needs, such as reading, watching videos, shopping, transportation tickets, food services, and so on, but we believe the app is less of a super app compared with Tencent’s Wechat (1.1 billion monthly average users).\n</blockquote>\n<blockquote>\n It has copied the strategies of its peers by launching a mini-program (181 million MAU in March 2019) and short video apps (sevenfold year over year increase to 98 million MAU in March 2019 as per Questmobile).\" - Morningstar\n</blockquote>\n<p>Baidu has struggled more than most Chinese tech giants to pivot and adapt to the disruption risk that is ever-present in this industry.</p>\n<blockquote>\n We have not factored in the meaningful commercialization of Baidu’s AI-based services, such as voice assistant platform DuerOS, autonomous driving platform Apollo and artificial intelligence cloud services.\n</blockquote>\n<blockquote>\n <b>Search is driven by an artificial intelligence-powered algorithm, giving Baidu a good foundation in this segment.</b>Baidu is also\n <b>one of the largest and earliest companies to start AI investments in China.</b>Currently, Baidu uses AI to recommend feeds to the app’s users to generate advertising revenue.\n</blockquote>\n<blockquote>\n IQiyi, Baidu’s online video platform, has been a key growth driver stemming from increasing willingness to pay for premium content in China and continuous advertising demand on&nbsp;\n <b>iQiyi. It accounted for 29% of Baidu’s revenue in the first quarter of 2019.</b>\n</blockquote>\n<blockquote>\n In the near term, Baidu will invest heavily in its mobile business in terms of sales and marketing, and traffic acquisition. While meaningful monetization is uncertain, we expect Baidu to increase or maintain its research and development expenditure, which is at 17% of sales in the first quarter of 2019. To fend off major competitor Tencent Video, iQiyi needs to continue to invest in premium content. Therefore, we expect Baidu’s margins to be under pressure in the near term.\" - Morningstar\n</blockquote>\n<p>But while Baidu has made some questionable investments over the years, its current focus on AI is a logical and prudent one.</p>\n<p>Baidu's competitive advantage in AI stems from being the first mover in Chinese search. It has the most data to feed into its machine learning algorithms, though rivals like Alibaba (BABA) and Tencent (OTCPK:TCEHY) are working hard to eat its lunch.</p>\n<blockquote>\n Baidu generated 68% of its revenue during the year from its online marketing services segment, which mainly sells ads. The segment's revenue has declined year over year for&nbsp;seven straight quarters.\n</blockquote>\n<blockquote>\n That ongoing slowdown is troubling since Baidu's advertising rivals -- like&nbsp;\n <b>Tencent</b>&nbsp;and&nbsp;\n <b>Bilibili --</b>both expanded&nbsp;their advertising businesses over the past year. It also indicates people are spending less time on traditional online searches and more time on other digital platforms.\" - Leo Sun,Motley Fool\n</blockquote>\n<p>In recent years, BIDU's market share in digital ads has been declining, which means unlike companies like JD, BABA, and TCEHY, it's attempting to pivot from a position of weakness, not strength.</p>\n<p>It has the resources to invest heavily and hopefully achieve the kinds of impressive growth rates analysts expect. But success is far from guaranteed.</p>\n<p>This is why I've bought a starter 3 share tracking position in Baidu.</p>\n<ul>\n <li>compared to a $10,000 position in Alphabet (GOOG)</li>\n <li>and an&nbsp;$89,000 investment into Alibaba</li>\n <li>and a&nbsp;$200,000 investment into Amazon(AMZN)</li>\n</ul>\n<p>And of course, we can't forget about the risks surrounding management and governance.</p>\n<blockquote>\n Robin Yanhong Li, the founder of Baidu, has been the chairman of the board since its inception and has served as the CEO since 2004. Before that, Li worked at IDD Information Services and Infoseek in Silicon Valley, with a special focus on product development in Internet search engines. Li owned 16.4% of the company as of January 2020, and all directors and management together owned 16.5%. Jennifer Xinzhe Li stepped down as CFO in 2017 and was replaced by Herman Yu, formerly of Weibo...\n</blockquote>\n<blockquote>\n Baidu had reputational issues, with the Wei Zexi medical incident being the largest scandal, which led to a management restructuring in 2016. Three vice presidents were dismissed. Qi Lu joined Baidu in January 2017 as group president and COO but resigned in June 2018. Lu has a solid record in the U.S. technology industry, and Baidu’s financial performance substantially improved during his appointment.\n</blockquote>\n<blockquote>\n This incident once again raised the market’s concern about Baidu’s turnover of key executives, including ex-chief scientist Andrew Ng and ex-senior vice president Jin Wang. In May 2019, Baidu announced the departure of senior vice president Hailong Xiang, who had been with Baidu since 2005. His departure is believed to be a result of Baidu’s inability to develop another successful and profitable business outside of search.\n</blockquote>\n<blockquote>\n The introduction of a senior management retirement plan and a young leadership development program signifies Baidu’s determination to revamp its management and reinvigorate its businesses in the new Internet era. Shen Dou leads the mobile ecosystem group now. He has a technical background and puts more focus on more user experience versus maximizing sales. There are now more interactions between the sales, commercial product team, and the user experience team, which we think is better for Baidu’s sustainability.\" - Morningstar\n</blockquote>\n<p>Unlike the management at Tencent, which Morningstar considers \"exemplary\" or the \"deep bench\" at Alibaba, BIDU has struggled with management in recent years.</p>\n<blockquote>\n B shares, which are owned by the CEO and his affiliates, have 10 times the voting rights of Class A shares. Therefore,\n <b>Li controls 55.4% of the equity voting rights</b>&nbsp;as of January 2020.As a result, these Class B shareholders have a disproportionately large influence over key matters such as the election of directors and significant corporate transactions, including mergers and the sale of the company or assets.\" - Morningstar\n</blockquote>\n<p>BIDU's founder and CEO controls 55% of the vote and thus is effectively king of Baidu. If shareholders don't like what management does, they have no recourse other than selling.</p>\n<p>Management isn't a poor capital allocator, but in recent years it hasn't been firing on all cylinders when it comes to pivoting to growth catalysts as easily as JD, BABA, and TCEHY have.</p>\n<blockquote>\n Some of Baidu’s acquisitions and new business developments have proved unsuccessful.\n</blockquote>\n<blockquote>\n These include the acquisition of 59% of Nuomi, a group-buying service provider, for $160 million in 2013 and the remaining stake in 2014 for an undisclosed sum, and Raven Tech for $90 million in 2017...\n</blockquote>\n<blockquote>\n Baidu’s investments in online-to-offline businesses such as deliveries and Nuomi led to its&nbsp;\n <b>operating margin declining from 26.1% in 2014 to 14.2% in 2016</b>&nbsp;but they did not gain as much scale as Meituan.\n</blockquote>\n<blockquote>\n However, we refrain from giving a Poor stewardship rating to Baidu for several reasons.\n</blockquote>\n<blockquote>\n <b>Baidu made the right decision in moving away from the O2O businesses, which led to margin improvement to 18.5% in 2017</b>and investing in mobile and AI, which we believe is sensible given that they complement its strong core search business.\n</blockquote>\n<blockquote>\n Also, Baidu’s return on invested capital has been way higher than its weighted average cost of capital of 9.8% over the past 10 years.\" - Morningstar\n</blockquote>\n<p>And of course, every investor in Chinese tech has to understand VIE regulatory risk.</p>\n<blockquote>\n Like many other Chinese Internet companies listed in overseas markets, Baidu operates under a&nbsp;\n <b>variable interest entity structure</b>&nbsp;designed to let companies bypass Chinese legal restrictions on foreign ownership in certain sectors.\n</blockquote>\n<blockquote>\n Baidu's foreign investors essentially hold shares of Baidu's VIE domiciled in the Cayman Islands.\n <b>We don't expect any legal challenges to VIE structures by the Chinese government</b>&nbsp;and believe that Baidu will consider a China depositary receipt listing in the future.\n</blockquote>\n<blockquote>\n However, if the legitimacy of Baidu's related VIE is found to violate applicable law or regulation, Chinese regulatory authorities might take action, including revoking the business and operating licenses of Baidu's subsidiaries or the VIE, or discontinuing, restricting, or restructuring Baidu's operations.\n</blockquote>\n<blockquote>\n Since the Chinese Ministry of Commerce has the jurisdiction to regulate VIEs,\n <b>we believe overseas investors would have limited legal rights</b>.\" - Morningstar\n</blockquote>\n<p>VIE regulatory risk is the reason that all Chinese tech stocks are speculative, and always will be, regardless of quality (Tencent is a 12/12 speculative Ultra SWAN for this reason).</p>\n<p>How do you measure and factor in such a complex risk profile?</p>\n<p>By turning to the expert consensus.</p>\n<ul>\n <li>39 analysts that cover BIDU and collectively know it better than anyone other than management</li>\n <li>and whether or not scary headlines meaningfully alter the investment thesis</li>\n <li>2 credit rating agencies</li>\n <li>3 ESG risk rating agencies</li>\n <li>44 total experts that monitor BIDU's risk profile for DK and will let us know if the thesis is weakening, strengthening or breaks</li>\n</ul>\n<p><b>ESG Material Financial Risk Analysis</b></p>\n<p><b>Essential To Fully Understanding A Company's Overall Risk Profile Especially Chinese Tech Companies</b></p>\n<p>According to the world's best risk assessors, ESG metrics are a critical component of a company's overall risk profile. Here's who considers ESG important and builds it into their safety models and ratings.</p>\n<ul>\n <li><p>BlackRock - #1 asset manager in the world</p></li>\n <li><p>MSCI - #1 indexing giant</p></li>\n <li><p>Morningstar</p></li>\n <li><p>Reuters'/Refinitiv</p></li>\n <li><p>ISS (Institutional Shareholder Services) - #1 corporate proxy firm on earth</p></li>\n <li><p>S&amp;P</p></li>\n <li><p>Fitch</p></li>\n <li><p>Moody's</p></li>\n <li><p>DBRS (Canadian credit rating agency)</p></li>\n <li><p>AM Best (insurance industry rating agency)</p></li>\n <li><p>Bank of America - one of the 16 most accurate economic/analyst teams in the world according to Market Watch</p></li>\n <li><p>Bloomberg</p></li>\n <li><p>FactSet Research</p></li>\n <li>State Street - one of the largest custodial banks on earth</li>\n <li>Wells Fargo - one of the 16 most accurate economic/analyst teams in the world according to Market Watch</li>\n <li>NAREIT</li>\n</ul>\n<blockquote>\n Companies with strong ESG profiles may be better positioned for future challenges and experience\n <b>fewer instances of bribery, corruption, and fraud.</b>\" - MSCI (Emphasis added)\n</blockquote>\n<p>Bank of America's research finds that ESG metrics also help improve the long-term profitability and outcomes at companies.</p>\n<blockquote>\n <b>Punchline: higher ROE, lower risk &amp; lower cost of capital</b>\n</blockquote>\n<blockquote>\n We find that companies with greater gender diversity at the board/management level typically see&nbsp;\n <b>higher ROE and lower earnings risk than peers.</b>\n</blockquote>\n<blockquote>\n Moreover, based on disclosure data from ICE, we find gender diversity in management is associated with a&nbsp;\n <b>~20% premium on P/E</b>&nbsp;on an overall and sector-neutral basis.\n</blockquote>\n<blockquote>\n Ethnic and racial workforce diversity shows similarly strong results:\n <b>higher ROE, lower risk, and significant premia on P/E and P/BV.</b>\" - Bank of America (emphasis original)\n</blockquote>\n<p>ESG isn't about political correctness, it's about sound business practices and maximizing long-term profits by avoiding blowing up companies in the short to medium-term.</p>\n<p><b>Baidu Consensus ESG Risk Rating</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Rating Agency</b></td>\n   <td><b>Industry Percentile</b></td>\n   <td><p><b>Rating Agency Classification</b></p></td>\n  </tr>\n  <tr>\n   <td>MSCI</td>\n   <td>54.0%</td>\n   <td><p>BB Below-Average</p></td>\n  </tr>\n  <tr>\n   <td>Morningstar/Sustainalytics</td>\n   <td>40.2%</td>\n   <td><p>24.4/100 Medium Risk</p></td>\n  </tr>\n  <tr>\n   <td>Reuters'/Refinitiv (Combined ESG Rating)</td>\n   <td>52.6%</td>\n   <td>Satisfactory</td>\n  </tr>\n  <tr>\n   <td>S&amp;P</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td><b>Consensus</b></td>\n   <td><b>48.9%</b></td>\n   <td><b>Average</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Sources: MSCI, Morningstar, Reuters'/Refinitiv)</i></p>\n<p>According to Morningstar, MSCI, and Reuter's BIDU's overall handling of its long-term financial ESG risk is average, in the 49th percentile.</p>\n<ul>\n <li>which is actually the highest ESG score of any of the big China tech stocks</li>\n <li>ESG investors probably want to avoid Chinese companies</li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/afa54b995a935d581ed79c58fb5d4920\" tg-width=\"640\" tg-height=\"491\"><img src=\"https://static.tigerbbs.com/464e286a82c2e31d4b5bc2a67525beb8\" tg-width=\"640\" tg-height=\"229\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b0b24c0262471afee43fa88dfe8da44\" tg-width=\"640\" tg-height=\"319\"><span>(Source: MSCI)</span></p>\n<p>Chinese companies tend to score poorly on ESG due to governance issues.</p>\n<p>But note that BIDU used to be rated CCC very poor and has seen two rating upgrades in two years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/81242ba4340325a61c591a15f1e0aed7\" tg-width=\"640\" tg-height=\"453\"><span>(Source: BIDU IR)</span></p>\n<p>In recent years BIDU did establish an ESG committee that may explain the improvement in ESG risk scores.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/01d6eec0412fa9351dcb8716bbbbc1a4\" tg-width=\"640\" tg-height=\"540\"><span>(Source: BIDU IR)</span></p>\n<blockquote>\n To enhance the integrity of mobile information and continue to be a leader in AI, we devote time and attention to the needs and demands of stakeholders, including suppliers, partners, governments, social institutions, users, employees, communities, and the environment itself.\n</blockquote>\n<blockquote>\n We actively explore low carbon operations, sustainable economic indicators, supply chain management, intellectual property, technological innovation, compliance, data privacy, information security, user experience, personnel training, employee rights, and community engagement.\n</blockquote>\n<blockquote>\n We aim to fully integrate an ESG philosophy and standards into our management, solve social problems with technology, leverage our corporate strength and innovation capability, and contribute long-term, sustainable value to stakeholders and the human community at large.\" - BIDU ESG mission statement\n</blockquote>\n<p>BIDU is talking the talk, and apparently beginning to walk the walk as well when it comes to managing long-term risk.</p>\n<p><img src=\"https://static.tigerbbs.com/5588fc730d2ccc5631369a46ea7bdd1b\" tg-width=\"640\" tg-height=\"456\"><img src=\"https://static.tigerbbs.com/2b3f779db4dbecb7bcc0e0880b6f4ae3\" tg-width=\"640\" tg-height=\"293\"></p>\n<p>Morningstar rates BIDU below average compared to its peers, but on par with the likes of Spotify, Snap, and MercadoLibre. In fact, Morningstar considers BIDU's ESG risk to be in the top 36% of all companies it rates.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ea303ae18b648b1beee3ba4bb69b599c\" tg-width=\"640\" tg-height=\"308\"><span>(Source: Reuters'/Refinitiv)</span></p>\n<p>Reuters/Refinitv is the most robust ESG model we have access to. Over 450 metrics in total make up that score.</p>\n<ul>\n <li>BIDU scores rather poorly on governance and environmental issues</li>\n</ul>\n<p>The bottom line is that all companies have complex risk profiles that need to be considered before investing.</p>\n<p>The DK Safety and quality model don't ignore any risk, and BIDU's risks are firmly baked into its speculative blue-chip rating.</p>\n<p>A 32% margin of safety compensates us appropriately for all of the company's risks, and what could go wrong in the future.</p>\n<p>However, more risk-intolerant investors will want to avoid BIDU and Chinese companies in general.</p>\n<p><b>Bottom Line: It's Time To Be Greedy When Others Are Fearful About Baidu</b></p>\n<p>In this highly overvalued market, it's easy to throw up your hands and shout \"everything is expensive and it's dangerous to buy any stock.\"</p>\n<p>While there are many speculative bubbles that could destroy your retirement dreams, there are ALWAYS great blue-chip bargains available.</p>\n<p>Baidu is one of those potentially exceptional long-term opportunities right now. Its 40% bear market, partially created by forced institutional margin call selling, allows anyone comfortable with its risk profile to buy the Google of China at a 32% margin of safety.</p>\n<p>Is Baidu speculative? Sure, all Chinese tech stocks are. Is it worth risking a small amount of discretionary savings to see whether Baidu can deliver on its AI/Driverless car/Streaming plans?</p>\n<p>I think so. If Baidu lives up to expectations, then it could potentially double within three years and almost triple within five.</p>\n<p>Barring the most extreme stock market bubble in history, one that surpasses the tech mania of the late '90s, there is no chance the S&amp;P 500 and Nasdaq will even come close.</p>\n<p>And to achieve such returns Baidu doesn't have to fly off into a speculative bubble. It merely has to return to fair value and grow at the impressive rates analysts expect and it has delivered in the past.</p>\n<p>I can't tell you what Baidu's price will do over the next year. I can tell you that the 65% upside analysts expect over the next 12 months is 100% fundamentally justified.</p>\n<p>For those comfortable with the complex risk profile inherent to Chinese tech stocks, a small position in Baidu at some of the best valuations in years is a reasonable and prudent decision.</p>\n<p>Basically, it's time to be greedy when others are fearful about the Google of China.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Reasons Baidu Could Make You Rich</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 Reasons Baidu Could Make You Rich\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-03 12:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4423641-4-reasons-baidu-make-you-rich><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStrong corporate earnings and great economic data keeps the market grinding higher. The S&P 500 is 36% historically overvalued and has just 28% upside potential over the next five years.\n...</p>\n\n<a href=\"https://seekingalpha.com/article/4423641-4-reasons-baidu-make-you-rich\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09888":"百度集团-SW","BIDU":"百度"},"source_url":"https://seekingalpha.com/article/4423641-4-reasons-baidu-make-you-rich","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1121605010","content_text":"Summary\n\nStrong corporate earnings and great economic data keeps the market grinding higher. The S&P 500 is 36% historically overvalued and has just 28% upside potential over the next five years.\nFortunately, whatever your goals, yield, value, growth, or total returns, something great is always on sale if you know where to look.\nBaidu is the Google of China, and planning on increasing spending by 30% annually over the coming years, focusing on AI, driverless cars, and streaming.\nIn recent weeks it plunged 40%, partially due to forced hedge fund margin call selling. This creates a potentially exceptional opportunity to be \"greedy when others are fearful\" about this speculative hyper-growth blue-chip.\nI recently bought a starter position in Baidu, because it's 31% undervalued and analysts think it could double in the next three years, and almost triple over the next five. For anyone comfortable with the complex risk profile of Chinese tech giants, Baidu is one of the most reasonable and prudent hyper-growth blue-chips you can buy today.\n\nPhoto by DNY59/iStock via Getty Images\nOver seven years as an analyst I've studied the greatest investors in history, to see what strategies made them legends.\nGreatest Investors In History: Masters Of Financial Science\n\n\n\n\nName\nReturns\nTime Horizon\nMost Famous For\n\n\nJim Simmons (Co-Founder Renaissance Technologies)\n71.8% CAGR\n1994 to 2014 (best investing record ever recorded)\nPure Quant Based Investing\n\n\nJoel Greenblatt\n40% CAGR\n21 years at Gotham Capital\n\"Above-Average Quality Companies At Below-Average Prices\"\n\n\nPeter Lynch\n29.2% CAGR at Fidelity's Magellan Fund\n1977 to 1990 (13 years)\n\"Growth At A Reasonable Price\"\n\n\nBill Miller (Legg Mason Value Trust 1990 to 2006)\n22.8% CAGR and beat the S&P 500 for 15 consecutive years\n16 years\n\n\nWarren Buffett\n20.8% CAGR at Berkshire\n55 Years\nGreedy when others are fearful\n\n\nBenjamin Graham\n20% CAGR vs 12% S&P 500\n1934 to 1956 (22 years)\nMargin of Safety\n\n\nEdward Thorp\n20+% CAGR\nover 30 years\ninvented card counting,pure statistically-based investing\n\n\nCharlie Munger\n19.80%\n1962 to 1975\nWonderful companies at fair prices\n\n\nHoward Marks\n19% CAGR\nSince 1995\nValuation Mean Reversion\n\n\nAnne Scheiber\n18.3% CAGR\n50 years\nTurned $5K into $22 million with no formal training, purely withtax-efficient buy and hold blue-chip investing.\n\n\nJohn Templeton\n300% from 1939 to 1943, 15.8% CAGR from 1954 to 1992\n38 years\nMarket Cycles\n\n\nCarl Icahn\n14.6% CAGR vs 5.6% S&P 500\n2001 to 2016 (15 Years)\n\n\nDavid Swenson\n13.9% CAGR at Yale's Endowment (includes bonds and alternative assets) vs 10.7% S&P 500\n30 years\nAlternative Asset Allocation\n\n\nGeraldine Weiss\n11.2% vs 9.8% S&P 500\n37 years\nBest risk-adjusted track recordof any newsletter over 30 years according to Hubbert Financial Digest, popularizeddividend yield theory(the only strategy she employed)\n\n\n\nCombining these lessons, along with decades of market studies from leading research institutions and blue-chip analyst firms, I've determined that there are six fundamentals that over the long term will make you rich (assuming you have discretionary savings to invest of course).\n\nPortfolio risk-management\nsafety\nquality\nyield\ngrowth\nand value\n\nWhen combined with patience, time, and discipline, these are what made the greatest investors in history the legends they are today.\nYou and I may never match the returns of the legends, but if we practice disciplined financial science we can avoid costly mistakes, and focus on the highest probability/low-risk blue-chips.\n\n It's remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.\" - Charlie Munger\n\nThese are the \"consistently not stupid\" decisions that made Charlie Munger and Warren Buffett so successful.\nToday I want to explain why I've recently opened a starter tracking position in speculative hyper-growth blue-chip Baidu (BIDU).\n\nAll Chinese tech giants are suffering a bear market right now. But notice how Baidu recently fell 40% in a matter of weeks.\n\n Baidu was also held by now-infamous hedge fund Archegos Capital Management at that time, which blew up during the same week. When the highly levered Archegos was unable to meet a margin call, banks seized Archegos' assets, including Baidu, and sold them off in massive blocks, accelerating Baidu's plunge.\" -Motley Fool\n\nInstitutional forced selling is one of the best opportunities for prudent long-term investors to buy the world's highest quality companies at mouth-watering prices.\n\nLowe's (LOW) and Realty Income (O) both plunged 25% on March 16th, due to institutional forced selling.\nIn other words, when hedge funds get margin calls, they become the ultimate dumb money. Taking the other side of those trades can be the way to earn Buffett-like returns, through buying and holding blue-chip investing.\nSo let me explain the four reasons why I consider it time to get greedy when others are fearful on Baidu.\n\n Today I buy what others won't, so tomorrow I earn returns others can't.\"\n\n\n  - Paraphrase of Jerry Rice\n\nReason 1: A Speculative Blue-Chip Quality Company\nAccording to the 2017 studyDo Stocks Outperform Treasury Bills?by Hendrik Bessembinder of Arizona State University's W.P. Carey School of Business 52% of all stocks, lose money over time.\nThis study looked at 26,000 companies from 1926 to 2016 and found that about 12% went to zero.\n\n(Source: Bessembinder et al)\nFrom 1926 to 2016 over 3,000 US companies listed on US exchanges went bankrupt. 1,100 or about 4%, delivered 100% of net positive returns. Just 48% of stocks delivered positive returns.\nIn other words, safety and quality are what can help you avoid the value traps that don't make any money or lose all of your savings.\nThe Dividend Kings quality scores factor in 143 fundamental metrics covering\n\ndividend safety\nbalance sheet strength\nshort and long-term bankruptcy risk\naccounting and corporate fraud risk\nprofitability and business model\ncost of capital\nlong-term sustainability (ESG scores and trends from MSCI, Morningstar, and Reuters'/Refinitiv)\nmanagement quality\ndividend friendly corporate culture/income dependability\nlong-term total returns (a Ben Graham sign of quality)\n\nOur model actually includes over 1,000 metrics if you count everything factored in by eight rating agencies we use to assess fundamental risk.\nEvery metric was selected based on\n\ndecades of empirical data\nthe experience of the greatest investors in history\neight rating agencies\nand what blue-chip economists and analyst firms consider most closely correlated to a company's long-term success.\n\nBaidu's quality is 9/12 speculative blue-chip, meaning I recommend a 2.5% max risk cap position sizing.\nDividend Kings Quality Rating System\n\n\n\n\nQuality Score\nMeaning\nMax Invested Capital Risk Recommendation\nMargin Of Safety Potentially Good Buy\nStrong Buy\nVery Strong Buy\nUltra-Value Buy\n\n\n3\nTerrible, Very High Long-Term Bankruptcy Risk\n0%\nNA (avoid)\nNA (avoid)\nNA (avoid)\nNA (avoid)\n\n\n4\nVery Poor\n0%\nNA (avoid)\nNA (avoid)\nNA (avoid)\nNA (avoid)\n\n\n5\nPoor\n0%\nNA (avoid)\nNA (avoid)\nNA (avoid)\nNA (avoid)\n\n\n6\nBelow-Average, Fallen Angels (very speculative)\n1%\n45%\n55%\n65%\n75%\n\n\n7\nAverage (Relative to S&P 500)\n2.5%\n35%\n45%\n55%\n65%\n\n\n8\nAbove-Average\n5% (unless speculative then 2.5%)\n25% to 30%\n35% to 40%\n45% to 50%\n55% to 60%\n\n\n9\nBlue-Chip\n7% (unlessspeculativethen2.5%)\n20% to25%\n30% to35%\n40% to45%\n50% to55%\n\n\n10\nSWAN (a higher caliber of Blue-Chip)\n7% (unless speculative then 2.5%)\n15% to 20%\n25% to 30%\n35% to 40%\n45% to 50%\n\n\n11\nSuper SWAN (exceptionally dependable blue-chips)\n7% (unless speculative then 2.5%)\n10% to 15%\n20% to 25%\n30% to 35%\n40% to 45%\n\n\n12\nUltra SWAN (as close to perfect companies as exist)\n7% (unless speculative then 2.5%)\n5% to 10%\n15% to 20%\n25% to 30%\n35% to 40%\n\n\n\nWhat exactly makes Baidu a speculative blue-chip?\nBalance Sheet Safety\n\n\n\n\nRating\nDividend Kings Safety Score (75 Safety Metric Model)\nApproximate Dividend Cut Risk (Average Recession)\nApproximate Dividend Cut Risk In Pandemic Level Recession\n\n\n1 (very unsafe)\n0% to 20%\nover 4%\n16+%\n\n\n2 (unsafe average)\n21% to 40%\nover 2%\n8% to 16%\n\n\n3 (average)\n41% to 60%\n2%\n4% to 8%\n\n\n4 (safe)\n61% to 80%\n1%\n2% to 4%\n\n\n5 (very safe)\n81% to 100%\n0.5%\n1% to 2%\n\n\nBIDU\n76%\nA stable rating from Fitch, A3 (A- equivalent) stable rating Moody's\n0.66% to 2.5% 30-year default/bankruptcy risk\n\n\n\nLong-Term Dependability\n\n\n\n\nCompany\nDK Long-Term Dependability Score\nInterpretation\nPoints\n\n\nS&P 500/Industry Average\n58%\nAverage Dependability\n2\n\n\nNon-Dependable Companies\n31% or below\nPoor Dependability\n1\n\n\nRelatively Dependable Companies\n32% to 70%\nBelow to Above-Average Dependability\n2\n\n\nVery Dependable Companies\n71% to 80%\nVery Dependable\n3\n\n\nExceptionally Dependable Companies\n81% or higher\nExceptional Dependability\n4\n\n\nBIDU\n67%\nAbove-Average Dependability\n2\n\n\n\nOverall Quality\n\n\n\n\nBIDU\nFinal Score\nRating\n\n\nSafety\n76%\n4/5\n\n\nBusiness Model\n80%\n3/3\n\n\nDependability\n67%\n2/4\n\n\nTotal\n73%\n9/12 Speculative Blue-Chip\n\n\n\nBaidu is the 245th Highest Quality Master List Company (Out of 495) = 49th Percentile\n(Source: DK Safety & Quality Tool) updated at the end of each day, sorted by overall quality score\n\ngreen = potentially good buy or better\nblue = potentially reasonable buy\nyellow = hold\nred = potential trim/sell\n\nBIDU's 73% quality score means it's the 245th highest quality company on the DK 500 Master List. This list includes the world's highest quality companies including\n\nall dividend champions\nall dividend aristocrats\nall dividend kings\nall 12/12 Ultra SWANs (as close to perfect quality as exists on Wall Street, think wide moat aristocrats)\nnumerous global aristocrats (such as BTI, ENB, and NVS)\n\nBIDU is about average quality compared to the world's elite companies and similar in quality to such 9/12 blue-chips and, 10/12 SWANs, as\n\nQualcomm (QCOM)\nBecton, Dickinson and Company (BDX) - dividend aristocrat\nW. P. Carey (WPC)\nSonoco Products (SON) - dividend champion\nH.B. Fuller (FUL) - dividend king\nMetLife (MET)\nDigital Realty Trust (DLR)\nLeggett & Platt (LEG) - dividend aristocrat\nV.F. Corp (VFC) - dividend aristocrat\nBank of New York Mellon (BK)\n\nBaidu has a strong cash-rich balance sheet, though it is taking on extra leverage in order to fund its ambitious growth efforts.\n(Source: Gurufocus Premium)\nIncluding leasing expenses, BIDU has 2X as much cash as debt.\nFitch and Moody's rate Baidu A stable and A3 (A- equivalent) stable outlooks, indicating 0.66% to 2.5% 30-year default/bankruptcy risk.\nAnalysts expect much higher spending in the short-term to cause leverage to increase, though rating agencies don't expect this to be permanent.\nThe key safety ratios with Baidu are the F, Z, and M scores, advanced accounting ratios created by leading research institutions that use asset ratios scanned from quarterly filings.\n\nF-score measures short-term bankruptcy risk\nZ-score measures 2-year bankruptcy risk (with 84% to 92% historical accuracy)\nM-score measures accounting fraud risk (with 76% historical accuracy)\n\n7/9 is very safe on the F-score = very low short-term bankruptcy risk.\n3.59 vs 3+ very safe and 9.51 historical, confirms the A-credit ratings and low long-term risk of losing all your money.\nAnd the M-score of -2.42 indicates a significantly less than 17.5% probability that Baidu is cooking its books.\n\n(Source: Gurufocus)\nBIDU's historically unsafe M-score has been improving and became safe at the end of 2014 and has remained so for the last seven years.\n\nits safety and quality score still get dinged though because we factor in every important metric so we don't miss any warning signs\n\nThe M-score is 76% historically accurate at catching accounting fraud and 82.5% accurate at finding companies with honest accounting.\nCombined with its credit ratings and risk ratings from 5 different rating agencies, plus its auditors, I can say with relatively high confidence that Baidu is not the next Luckin Coffee.\nQuality is a proven alpha factor, one of seven that beats the market over the long term.\n\nOn Wall Street, profitability over time is the most accurate proxy for quality.\n\ncredit ratings are one of the best qualitative quality proxies\n\n(Source: Gurufocus Premium)\nBaidu's profitability is historically in the top 20% of its peers, confirming a wide and stable moat.\n\n\n\n\nMetric\nIndustry Percentile\nMajor Interactive Media Companies More Profitable Than BIDU (Out of 543)\n\n\nOperating Margin\n67.35\n177\n\n\nNet Margin\n81.26\n102\n\n\nReturn On Equity\n67.86\n175\n\n\nReturn On Assets\n68.47\n171\n\n\nReturn On Capital\n69.61\n165\n\n\nAverage\n70.91\n158\n\n\n\n(Source: Gurufocus Premium)\nOver the last year, increased growth spending has reduced profitability to the top 29% of peers, though that's expected to recover in the future.\n\nfor example, returns on equity are expected to rise 10% by 2024\n\nJoel Greenblatt defined quality by return on capital, his gold standard proxy for quality and moatiness.\n\noperating income (EBIT)/operating capital (the money it takes to run the business for a year)\n\nGreenblatt's entire legendary track record, 40% annual returns for 21 years, was done by combining high ROC with low valuations.\n(Source: Gurufocus Premium)\nEven with heavy growth spending in recent years, Baidu's returns on capital are very impressive.\nThe average Master List company has 88% ROC.\nThe average aristocrat 83%.\nThe average Ultra SWAN 87%.\nOver the past year, BIDU's ROC has been 103% and in Q4 it was 95%.\nAnalysts expect that in the next few years, ROC will revert back to its historical 205%.\nA level of profitability that, according to Joel Greenblatt, would make BIDU one of the highest quality companies in the world.\nBaidu's future growth is expected to come from aggressive investments into driverless cars (long-term) and AI and streaming in the short and medium term.\nBaidu Growth Spending Consensus Forecast\n\n\n\n\nYear\nSG&A\nR&D\nCapex\nTotal Growth Spending\nSales\nGrowth Spending/Sales\n\n\n2020\n$2,792\n$3,016\n$993\n$4,009\n$16,548\n24.23%\n\n\n2021\n$3,574\n$3,554\n$1,893\n$5,447\n$19,517\n27.91%\n\n\n2022\n$3,974\n$4,062\n$2,220\n$6,282\n$22,235\n28.25%\n\n\n2023\n$5,049\n$5,858\n$2,719\n$8,577\n$25,258\n33.96%\n\n\n2024\nNA\nNA\n$1,504\nNA\n$30,071\nNA\n\n\n2025\nNA\nNA\nNA\nNA\nNA\nNA\n\n\n2026\nNA\nNA\nNA\nNA\nNA\nNA\n\n\nAnnualized Growth\n21.83%\n24.77%\n10.94%\n28.85%\n16.10%\nNA\n\n\n\n(Source: FactSet Research Terminal)\nHistorically Baidu spends about 17% of its revenue on growth. By 2023 that's expected to double.\nTotal growth spending is expected to grow at almost 30% annually for the next three years.\nBaidu Consensus Profit Forecast\n\n\n\n\nYear\nSales\nFCF\nEBITDA\nEBIT (Operating Income)\nNet Income\n\n\n2020\n$16,548\n$2,106\n$4,251\n$2,216\n$3,473\n\n\n2021\n$19,517\n$3,947\n$4,734\n$2,629\n$2,760\n\n\n2022\n$22,235\n$5,013\n$5,812\n$3,400\n$3,381\n\n\n2023\n$25,258\n$5,854\n$6,730\n$4,163\n$4,226\n\n\n2024\n$30,071\n$7,421\nNA\n$6,195\n$5,268\n\n\nAnnualized Growth\n16.10%\n37.01%\n16.55%\n29.31%\n10.98%\n\n\n\n(Source: FactSet Research Terminal)\nManagement's guidance, which is the basis for these consensus forecasts, is for strong revenue growth. Net margins are expected to compress but cash flows are expected to soar.\nFree cash flow, the ultimate source of all intrinsic value according to Ben Graham and Warren Buffett, is expected to more than triple by 2024.\nBaidu Consensus Margin Forecast\n\n\n\n\nYear\nFCF Margin\nEBITDA Margin\nEBIT (Operating) Margin\nNet Margin\n\n\n2020\n12.7%\n25.7%\n13.4%\n21.0%\n\n\n2021\n20.2%\n24.3%\n13.5%\n14.1%\n\n\n2022\n22.5%\n26.1%\n15.3%\n15.2%\n\n\n2023\n23.2%\n26.6%\n16.5%\n16.7%\n\n\n2024\n24.7%\nNA\n20.6%\n17.5%\n\n\nAnnualized Growth\n18.01%\n1.23%\n11.37%\n-4.42%\n\n\n\n(Source: FactSet Research Terminal)\nBaidu's profitability is ultimately expected to improve, though net margins won't until its major growth initiatives are over.\n(Source: FactSet Research Terminal)\nBIDU ended 2020 with $5.6 billion in cash, and that's expected to rise to $22 billion by 2023, and potentially nearly $60 billion by 2024.\nThat may not be as impressive as some tech companies ($601 billion by 2026 for Amazon), but it does mean that Baidu's war chest and financial flexibility to pivot towards AI, driverless cars, and streaming will grow significantly in future years.\nBaidu Medium-Term Growth Consensus\n\n\n\n\nMetric\n2020 Actual Growth\n2021 consensus growth\n2022 consensus growth\n2023 consensus growth\n\n\nEPS\n31%\n7%\n18%\n16%\n\n\nOwner Earnings (Buffett smoothed out FCF)\n124%\n22%\nNA\nNA\n\n\nOperating Cash Flow\n-14%\n59%\n31%\n7%\n\n\nFree cash flow\n96%\n85%\n22%\nNA\n\n\nEBITDA\n-18%\n53%\n27%\n24%\n\n\nEBIT (operating income)\n130%\n26%\n26%\n19%\n\n\n\n(Source: F.A.S.T. Graphs, FactSet Research)\nIn the next few years, Baidu's growth efforts are expected to result in strong growth. But what's attracted me to the Google of China, is that this hyper-growth is expected to continue for many years to come.\nReason 2: Long-Term Hyper-Growth Potential\n(Source: FactSet Research Terminal)\nBIDU's AI, streaming, and driverless car investments are showing up in \"other services\" and that revenue is expected to grow almost 50% in 3 years.\n\n(Source: F.A.S.T. Graphs, FactSet Research)\n\n16.0% to 17.5% long-term growth consensus range\n6% to 28% growth consensus range adjusted for historical margin of error\n\n\nThe margins of error on BIDU forecasts are very wide. 33% of the time it grows much faster than expected, 33% of the time much slower, and 33% of the about as fast as expected.\n\nmargins of error over the last decade (excluding outliers) are 60% to the downside, 55% to the upside\nthe long-term growth consensus range: 16% to 18% CAGR\nthe margin of error adjusted long-term analyst growth consensus range: 6% to 28% CAGR\n\n(Source: F.A.S.T. Graphs, FactSet Research)\nBIDU's historical growth is from -9% to 52%. So relatively high growth uncertainty, more so than most tech blue-chips.\n\nand thus the $650 investment vs $10K in GOOG, $89K in BABA, and $200K in Amazon\n\nHowever, analysts expect growth to be similar to the 20% growth of the last decade.\nAnd at today's high margin of safety, we're likely getting a good deal to compensate for BIDU's growth uncertainty and complex risk profile.\nReason 3: Highly Attractive Valuation\n(Source: F.A.S.T. Graphs, FactSet Research)\nBIDU growing at the rates analysts expect in the future has historically been valued at 23X to 26X earnings.\n(Source: FactSet Research Terminal)\nBIDU is currently trading at 20.4X forward earnings and 13.6X EV/EBITDA.\nEV/EBITDA is market cap + net debt/EBITDA and is Joel Greenblatt's and private equity's favorite valuation metric.\nBaidu's 13-year median EV/EBITDA is 23.2, and its trading at 13.6, implying a potential 42% discount to fair value.\n\n\n\n\nMetric\nHistorical Fair Value (12-years)\n2020\n2021\n2022\n2023\n\n\nEarnings\n25.0\n$243.87\n$261.27\n$307.91\n$357.77\n\n\nOwner Earnings (Buffett smoothed out FCF) - 10 yr\n23.5\n$324.46\n$394.46\nNA\nNA\n\n\nOperating Cash Flow\n19.9\n$202.33\n$321.22\n$420.37\n$448.64\n\n\nFree Cash Flow (11-yr)\n27.5\n$220.77\n$408.53\n$497.28\nNA\n\n\nEBITDA\n22.0\n$190.60\n$291.18\n$370.80\n$459.36\n\n\nEBIT (operating income)\n34.5\n$207.78\n$261.14\n$328.78\n$392.83\n\n\nAverage\n$224.60\n$312.71\n$373.81\n$410.40\n\n\nCurrent Price\n$215.83\n\n\nDiscount To Fair Value\n3.91%\n30.98%\n42.26%\n47.41%\n\n\nUpside To Fair Value\n4%\n45%\n73%\n90%\n\n\n\n(Source: F.A.S.T. Graphs, FactSet Research)\nBIDU is about 31% historically undervalued right now, meaning that if it grows as expected through 2023 and returns to fair value that's 90% upside potential.\n\n$350 is the median 12-month price target\n65% upside potential over the next 12 months according to analysts\n\nAnd that guestimate is 100% justified by fundamentals.\n\n\n\n\nRating\nMargin Of Safety For Speculative 9/12 Blue-Chip Quality Companies\n2020 Price\n2021 Price\n2022 Price\n\n\nPotentially Reasonable Buy\n0%\n$224.60\n$312.71\n$373.81\n\n\nPotentially Good Buy\n25%\n$168.45\n$234.53\n$280.35\n\n\nPotentially Strong Buy\n35%\n$145.99\n$203.26\n$242.97\n\n\nPotentially Very Strong Buy\n45%\n$123.53\n$171.99\n$205.59\n\n\nPotentially Ultra-Value Buy\n55%\n$101.07\n$140.72\n$168.21\n\n\nCurrently\n$213.41\n5%\n32%\n43%\n\n\nUpside To Fair Value (Not Including Dividends)\n5%\n47%\n75%\n\n\n\nAt a 32% margin of safety, Baidu, despite all its risks, is a potentially good buy for more risk-tolerant investors.\nBut the ability to potentially enjoy monster short-term gains is just the cherry on top with Baidu.\nReason 4: Eye-Popping Long-Term Return Potential\nHere is a reasonable idea of what kind of returns you can expect buying BIDU today.\nBaidu 2023 Consensus Return Potential\n(Source: F.A.S.T. Graphs, FactSet Research)\nIf BAIDU grows as analysts expect through 2023, and returns to historical fair value, then analysts expect\n\n75% total returns\n23.3% CAGR returns\nvs -1.3% CAGR S&P 500\n\nFrom its 31% discount, BIDU has the potential to outperform the 36% overvalued S&P 500 by 78% over the next three years.\n(Source: F.A.S.T. Graphs, FactSet Research)\nCorporate earnings growth estimates are rising by the day. Yet the market has already priced in three years of earnings growth totaling 62% or 17.4% CAGR.\nOver the long term, BIDU's return outlook is also very strong.\nBaidu 2026 Consensus Return Potential\n(Source: F.A.S.T. Graphs, FactSet Research)\nIf BIDU grows as analysts expect through 2026 and returns to historical fair value you could expect\n\n179% total returns\n19.8% CAGR\nvs 4.5% CAGR S&P 500\n4.4X better than the market's consensus return potential\n\nIf BIDU delivers as analysts expect, then buying today could almost triple your money in the next five years.\n(Source: F.A.S.T. Graphs, FactSet Research)\nOver the long term, analysts expect\n\n0% yield + 17.5% growth = 17.5% CAGR very long-term total returns (after valuation changes cancel out)\n6% to 28% CAGR range\nvs 7.8% for the S&P and 10.8% for the dividend aristocrats\n\nBaidu Total Returns Since 2006\n\n(Source: Portfolio Visualizer)\nIn the last 15 years, BIDU has turned $1 into $26, adjusted for inflation, and crushed the market with 8X more wealth compounding.\nIt's expected to grow slightly slower than in the past, but the ability to potentially enjoy 17.5% hyper-growth for many years is incredibly attractive.\nBaidu Vs S&P 500 Vs Dividend Aristocrat Inflation-Adjusted Total Return Forecast: $650 Initial Investment\n\n\n\n\nTime Frame (Years)\n5.8% LT Inflation-Adjusted Returns (S&P Consensus)\n8.8% Inflation-Adjusted Returns (aristocrat consensus)\n15.5% Inflation-Adjusted Returns (BIDU consensus)\n\n\n5\n$1,325.65\n$1,524.56\n$1,336.05\n\n\n10\n$1,757.34\n$2,324.28\n$2,746.21\n\n\n15\n$2,329.62\n$3,543.51\n$5,644.73\n\n\n20\n$3,088.26\n$5,402.29\n$11,602.54\n\n\n25\n$4,093.94\n$8,236.11\n$23,848.60\n\n\n30\n$5,427.13\n$12,556.45\n$49,019.95\n\n\n35\n$7,194.46\n$19,143.06\n$100,758.76\n\n\n40\n$9,537.33\n$29,184.74\n$207,106.02\n\n\n45\n$12,643.14\n$44,493.88\n$425,699.02\n\n\n50\n$16,760.36\n$67,833.58\n$875,009.10\n\n\n\nThe ability to grow 2X to 3X as fast as the S&P 500 or aristocrats creates the potential for wealth compounding on a massive scale. Look at how large my $650 initial BIDU investment can grow, assuming analysts are right and management delivers the expected growth over time.\n\n\n\n\nTime Frame (Years)\nRatio S&P vs Aristocrat Consensus\nRatio S&P vs BIDU consensus\n\n\n5\n1.15\n1.01\n\n\n10\n1.32\n1.56\n\n\n15\n1.52\n2.42\n\n\n20\n1.75\n3.76\n\n\n25\n2.01\n5.83\n\n\n30\n2.31\n9.03\n\n\n35\n2.66\n14.01\n\n\n40\n3.06\n21.72\n\n\n45\n3.52\n33.67\n\n\n50\n4.05\n52.21\n\n\n\nOver the long term, the aristocrats are expected to quadruple the S&P 500's wealth compounding. Baidu could potentially deliver 52X as much wealth as the S&P 500.\nIs Baidu likely to grow 17.5% for 50 years? Probably not. But even if it can deliver just 10 to 20 years of hyper-growth, when combined with its attractive current valuation, that's worthy of a small initial investment in my book.\nRisk Profile: Why Baidu Isn't Right For Everyone\nThere are no risk-free companies and no company is right for everyone. You have to be comfortable with the fundamental risk profile.\nFundamental Risk Summary\n\n We think Baidu faces high levels of risk, given intense competition along with questions as to whether its AI-related investment will generate satisfactory returns.\n\n\n Though Baidu is the largest search engine in China, it is competing with the other two Internet giants, Tencent and Alibaba, and Google’s potential return to the Chinese search market is also a threat.\n\n\n Regarding the search engine business, Tencent invested in Sogou, and Alibaba acquired UC Web, which owns a mobile search engine, Shenma. Competition has extended to each key area of mobile Internet usage, such as navigation, O2O services, online video services, and so on. Baidu’s margins have been significantly dragged down by aggressive spending in video content and O2O marketing but recovered to 18.5% in 2017 from 14.2% in 2016 as Baidu divested margin-dilutive businesses.\n\n\n The major Internet companies in China have been investing in AI-related business, such as cloud computing, voice and image recognition, and autonomously driven cars. At the current stage,\n it is difficult to predict whether Baidu will be the final winner in AI and whether the returns will reward its investment.\n\n\n In addition, regulatory risk is a concern. Following the Wei Zexi incident in early 2016, Chinese authorities launched new regulations for online search and advertising, which clearly defined paid search results as advertising. These regulations took effect on Sept. 1, 2016. Given stricter standards for online advertisers, Baidu’s online marketing services revenue growth declined to 1% in 2016. If the local authorities release more policies regarding Internet business, such as online advertising and online finance, Baidu’s revenue could be negatively affected.\n\n\n Since 2017, Baidu has discontinued the disclosure of MAUs for its mobile search and mobile maps, which is possibly due to weaker numbers.\" - Morningstar\n\nBIDU's pivot into the technology of the future is potentially like Satya Nadella taking MSFT into the pure cloud-driven strategy.\nOr it could be like IBM's Watson-based flaying, major promise but poor execution over time.\n\n Baidu has the urgency to strengthen its mobile business because it has not developed another industry-leading business other than its mobile search app for years.\n\n\n Baidu’s share of mobile time spend reduced to 6.9% in March 2019 from 7.3% year over year. Baidu positions its flagship Baidu app (173 million daily average users in March 2019) as a \"super\" app that can serve a wide range of users' needs, such as reading, watching videos, shopping, transportation tickets, food services, and so on, but we believe the app is less of a super app compared with Tencent’s Wechat (1.1 billion monthly average users).\n\n\n It has copied the strategies of its peers by launching a mini-program (181 million MAU in March 2019) and short video apps (sevenfold year over year increase to 98 million MAU in March 2019 as per Questmobile).\" - Morningstar\n\nBaidu has struggled more than most Chinese tech giants to pivot and adapt to the disruption risk that is ever-present in this industry.\n\n We have not factored in the meaningful commercialization of Baidu’s AI-based services, such as voice assistant platform DuerOS, autonomous driving platform Apollo and artificial intelligence cloud services.\n\n\nSearch is driven by an artificial intelligence-powered algorithm, giving Baidu a good foundation in this segment.Baidu is also\n one of the largest and earliest companies to start AI investments in China.Currently, Baidu uses AI to recommend feeds to the app’s users to generate advertising revenue.\n\n\n IQiyi, Baidu’s online video platform, has been a key growth driver stemming from increasing willingness to pay for premium content in China and continuous advertising demand on \n iQiyi. It accounted for 29% of Baidu’s revenue in the first quarter of 2019.\n\n\n In the near term, Baidu will invest heavily in its mobile business in terms of sales and marketing, and traffic acquisition. While meaningful monetization is uncertain, we expect Baidu to increase or maintain its research and development expenditure, which is at 17% of sales in the first quarter of 2019. To fend off major competitor Tencent Video, iQiyi needs to continue to invest in premium content. Therefore, we expect Baidu’s margins to be under pressure in the near term.\" - Morningstar\n\nBut while Baidu has made some questionable investments over the years, its current focus on AI is a logical and prudent one.\nBaidu's competitive advantage in AI stems from being the first mover in Chinese search. It has the most data to feed into its machine learning algorithms, though rivals like Alibaba (BABA) and Tencent (OTCPK:TCEHY) are working hard to eat its lunch.\n\n Baidu generated 68% of its revenue during the year from its online marketing services segment, which mainly sells ads. The segment's revenue has declined year over year for seven straight quarters.\n\n\n That ongoing slowdown is troubling since Baidu's advertising rivals -- like \n Tencent and \n Bilibili --both expanded their advertising businesses over the past year. It also indicates people are spending less time on traditional online searches and more time on other digital platforms.\" - Leo Sun,Motley Fool\n\nIn recent years, BIDU's market share in digital ads has been declining, which means unlike companies like JD, BABA, and TCEHY, it's attempting to pivot from a position of weakness, not strength.\nIt has the resources to invest heavily and hopefully achieve the kinds of impressive growth rates analysts expect. But success is far from guaranteed.\nThis is why I've bought a starter 3 share tracking position in Baidu.\n\ncompared to a $10,000 position in Alphabet (GOOG)\nand an $89,000 investment into Alibaba\nand a $200,000 investment into Amazon(AMZN)\n\nAnd of course, we can't forget about the risks surrounding management and governance.\n\n Robin Yanhong Li, the founder of Baidu, has been the chairman of the board since its inception and has served as the CEO since 2004. Before that, Li worked at IDD Information Services and Infoseek in Silicon Valley, with a special focus on product development in Internet search engines. Li owned 16.4% of the company as of January 2020, and all directors and management together owned 16.5%. Jennifer Xinzhe Li stepped down as CFO in 2017 and was replaced by Herman Yu, formerly of Weibo...\n\n\n Baidu had reputational issues, with the Wei Zexi medical incident being the largest scandal, which led to a management restructuring in 2016. Three vice presidents were dismissed. Qi Lu joined Baidu in January 2017 as group president and COO but resigned in June 2018. Lu has a solid record in the U.S. technology industry, and Baidu’s financial performance substantially improved during his appointment.\n\n\n This incident once again raised the market’s concern about Baidu’s turnover of key executives, including ex-chief scientist Andrew Ng and ex-senior vice president Jin Wang. In May 2019, Baidu announced the departure of senior vice president Hailong Xiang, who had been with Baidu since 2005. His departure is believed to be a result of Baidu’s inability to develop another successful and profitable business outside of search.\n\n\n The introduction of a senior management retirement plan and a young leadership development program signifies Baidu’s determination to revamp its management and reinvigorate its businesses in the new Internet era. Shen Dou leads the mobile ecosystem group now. He has a technical background and puts more focus on more user experience versus maximizing sales. There are now more interactions between the sales, commercial product team, and the user experience team, which we think is better for Baidu’s sustainability.\" - Morningstar\n\nUnlike the management at Tencent, which Morningstar considers \"exemplary\" or the \"deep bench\" at Alibaba, BIDU has struggled with management in recent years.\n\n B shares, which are owned by the CEO and his affiliates, have 10 times the voting rights of Class A shares. Therefore,\n Li controls 55.4% of the equity voting rights as of January 2020.As a result, these Class B shareholders have a disproportionately large influence over key matters such as the election of directors and significant corporate transactions, including mergers and the sale of the company or assets.\" - Morningstar\n\nBIDU's founder and CEO controls 55% of the vote and thus is effectively king of Baidu. If shareholders don't like what management does, they have no recourse other than selling.\nManagement isn't a poor capital allocator, but in recent years it hasn't been firing on all cylinders when it comes to pivoting to growth catalysts as easily as JD, BABA, and TCEHY have.\n\n Some of Baidu’s acquisitions and new business developments have proved unsuccessful.\n\n\n These include the acquisition of 59% of Nuomi, a group-buying service provider, for $160 million in 2013 and the remaining stake in 2014 for an undisclosed sum, and Raven Tech for $90 million in 2017...\n\n\n Baidu’s investments in online-to-offline businesses such as deliveries and Nuomi led to its \n operating margin declining from 26.1% in 2014 to 14.2% in 2016 but they did not gain as much scale as Meituan.\n\n\n However, we refrain from giving a Poor stewardship rating to Baidu for several reasons.\n\n\nBaidu made the right decision in moving away from the O2O businesses, which led to margin improvement to 18.5% in 2017and investing in mobile and AI, which we believe is sensible given that they complement its strong core search business.\n\n\n Also, Baidu’s return on invested capital has been way higher than its weighted average cost of capital of 9.8% over the past 10 years.\" - Morningstar\n\nAnd of course, every investor in Chinese tech has to understand VIE regulatory risk.\n\n Like many other Chinese Internet companies listed in overseas markets, Baidu operates under a \n variable interest entity structure designed to let companies bypass Chinese legal restrictions on foreign ownership in certain sectors.\n\n\n Baidu's foreign investors essentially hold shares of Baidu's VIE domiciled in the Cayman Islands.\n We don't expect any legal challenges to VIE structures by the Chinese government and believe that Baidu will consider a China depositary receipt listing in the future.\n\n\n However, if the legitimacy of Baidu's related VIE is found to violate applicable law or regulation, Chinese regulatory authorities might take action, including revoking the business and operating licenses of Baidu's subsidiaries or the VIE, or discontinuing, restricting, or restructuring Baidu's operations.\n\n\n Since the Chinese Ministry of Commerce has the jurisdiction to regulate VIEs,\n we believe overseas investors would have limited legal rights.\" - Morningstar\n\nVIE regulatory risk is the reason that all Chinese tech stocks are speculative, and always will be, regardless of quality (Tencent is a 12/12 speculative Ultra SWAN for this reason).\nHow do you measure and factor in such a complex risk profile?\nBy turning to the expert consensus.\n\n39 analysts that cover BIDU and collectively know it better than anyone other than management\nand whether or not scary headlines meaningfully alter the investment thesis\n2 credit rating agencies\n3 ESG risk rating agencies\n44 total experts that monitor BIDU's risk profile for DK and will let us know if the thesis is weakening, strengthening or breaks\n\nESG Material Financial Risk Analysis\nEssential To Fully Understanding A Company's Overall Risk Profile Especially Chinese Tech Companies\nAccording to the world's best risk assessors, ESG metrics are a critical component of a company's overall risk profile. Here's who considers ESG important and builds it into their safety models and ratings.\n\nBlackRock - #1 asset manager in the world\nMSCI - #1 indexing giant\nMorningstar\nReuters'/Refinitiv\nISS (Institutional Shareholder Services) - #1 corporate proxy firm on earth\nS&P\nFitch\nMoody's\nDBRS (Canadian credit rating agency)\nAM Best (insurance industry rating agency)\nBank of America - one of the 16 most accurate economic/analyst teams in the world according to Market Watch\nBloomberg\nFactSet Research\nState Street - one of the largest custodial banks on earth\nWells Fargo - one of the 16 most accurate economic/analyst teams in the world according to Market Watch\nNAREIT\n\n\n Companies with strong ESG profiles may be better positioned for future challenges and experience\n fewer instances of bribery, corruption, and fraud.\" - MSCI (Emphasis added)\n\nBank of America's research finds that ESG metrics also help improve the long-term profitability and outcomes at companies.\n\nPunchline: higher ROE, lower risk & lower cost of capital\n\n\n We find that companies with greater gender diversity at the board/management level typically see \n higher ROE and lower earnings risk than peers.\n\n\n Moreover, based on disclosure data from ICE, we find gender diversity in management is associated with a \n ~20% premium on P/E on an overall and sector-neutral basis.\n\n\n Ethnic and racial workforce diversity shows similarly strong results:\n higher ROE, lower risk, and significant premia on P/E and P/BV.\" - Bank of America (emphasis original)\n\nESG isn't about political correctness, it's about sound business practices and maximizing long-term profits by avoiding blowing up companies in the short to medium-term.\nBaidu Consensus ESG Risk Rating\n\n\n\n\nRating Agency\nIndustry Percentile\nRating Agency Classification\n\n\nMSCI\n54.0%\nBB Below-Average\n\n\nMorningstar/Sustainalytics\n40.2%\n24.4/100 Medium Risk\n\n\nReuters'/Refinitiv (Combined ESG Rating)\n52.6%\nSatisfactory\n\n\nS&P\nNA\nNA\n\n\nConsensus\n48.9%\nAverage\n\n\n\n(Sources: MSCI, Morningstar, Reuters'/Refinitiv)\nAccording to Morningstar, MSCI, and Reuter's BIDU's overall handling of its long-term financial ESG risk is average, in the 49th percentile.\n\nwhich is actually the highest ESG score of any of the big China tech stocks\nESG investors probably want to avoid Chinese companies\n\n\n(Source: MSCI)\nChinese companies tend to score poorly on ESG due to governance issues.\nBut note that BIDU used to be rated CCC very poor and has seen two rating upgrades in two years.\n(Source: BIDU IR)\nIn recent years BIDU did establish an ESG committee that may explain the improvement in ESG risk scores.\n(Source: BIDU IR)\n\n To enhance the integrity of mobile information and continue to be a leader in AI, we devote time and attention to the needs and demands of stakeholders, including suppliers, partners, governments, social institutions, users, employees, communities, and the environment itself.\n\n\n We actively explore low carbon operations, sustainable economic indicators, supply chain management, intellectual property, technological innovation, compliance, data privacy, information security, user experience, personnel training, employee rights, and community engagement.\n\n\n We aim to fully integrate an ESG philosophy and standards into our management, solve social problems with technology, leverage our corporate strength and innovation capability, and contribute long-term, sustainable value to stakeholders and the human community at large.\" - BIDU ESG mission statement\n\nBIDU is talking the talk, and apparently beginning to walk the walk as well when it comes to managing long-term risk.\n\nMorningstar rates BIDU below average compared to its peers, but on par with the likes of Spotify, Snap, and MercadoLibre. In fact, Morningstar considers BIDU's ESG risk to be in the top 36% of all companies it rates.\n(Source: Reuters'/Refinitiv)\nReuters/Refinitv is the most robust ESG model we have access to. Over 450 metrics in total make up that score.\n\nBIDU scores rather poorly on governance and environmental issues\n\nThe bottom line is that all companies have complex risk profiles that need to be considered before investing.\nThe DK Safety and quality model don't ignore any risk, and BIDU's risks are firmly baked into its speculative blue-chip rating.\nA 32% margin of safety compensates us appropriately for all of the company's risks, and what could go wrong in the future.\nHowever, more risk-intolerant investors will want to avoid BIDU and Chinese companies in general.\nBottom Line: It's Time To Be Greedy When Others Are Fearful About Baidu\nIn this highly overvalued market, it's easy to throw up your hands and shout \"everything is expensive and it's dangerous to buy any stock.\"\nWhile there are many speculative bubbles that could destroy your retirement dreams, there are ALWAYS great blue-chip bargains available.\nBaidu is one of those potentially exceptional long-term opportunities right now. Its 40% bear market, partially created by forced institutional margin call selling, allows anyone comfortable with its risk profile to buy the Google of China at a 32% margin of safety.\nIs Baidu speculative? Sure, all Chinese tech stocks are. Is it worth risking a small amount of discretionary savings to see whether Baidu can deliver on its AI/Driverless car/Streaming plans?\nI think so. If Baidu lives up to expectations, then it could potentially double within three years and almost triple within five.\nBarring the most extreme stock market bubble in history, one that surpasses the tech mania of the late '90s, there is no chance the S&P 500 and Nasdaq will even come close.\nAnd to achieve such returns Baidu doesn't have to fly off into a speculative bubble. It merely has to return to fair value and grow at the impressive rates analysts expect and it has delivered in the past.\nI can't tell you what Baidu's price will do over the next year. I can tell you that the 65% upside analysts expect over the next 12 months is 100% fundamentally justified.\nFor those comfortable with the complex risk profile inherent to Chinese tech stocks, a small position in Baidu at some of the best valuations in years is a reasonable and prudent decision.\nBasically, it's time to be greedy when others are fearful about the Google of China.","news_type":1},"isVote":1,"tweetType":1,"viewCount":116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100646856,"gmtCreate":1619613018175,"gmtModify":1704726776414,"author":{"id":"3582361231785431","authorId":"3582361231785431","name":"kstle","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582361231785431","authorIdStr":"3582361231785431"},"themes":[],"htmlText":"Wow great[Wow]&nbsp;","listText":"Wow great[Wow]&nbsp;","text":"Wow great[Wow]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/100646856","repostId":"1179396069","repostType":4,"repost":{"id":"1179396069","pubTimestamp":1619573853,"share":"https://ttm.financial/m/news/1179396069?lang=&edition=fundamental","pubTime":"2021-04-28 09:37","market":"us","language":"en","title":"Apple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.","url":"https://stock-news.laohu8.com/highlight/detail?id=1179396069","media":"Barrons","summary":"Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech g","content":"<p>Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech giant just might be able to pull it off.</p>\n<p>The buzz around Apple last year was off the charts, even for what is the buzziest of technology companies. Anticipation of the fall launch of the company’s first 5G phones, surging demand for both Macs and iPads as the pandemic rolled on, and strength in both wearables and services fed off each other. The pieces all came together in the December quarter, when Apple (ticker: AAPL) posted&nbsp;its biggest quarter ever. Sales soared 21% to $111.4 billion, more than $8 billion over the Street consensus. Every product category—iPhone, iPad, Macs, wearables, and services—notched double-digit growth. Apple stock finished the year up 81%, adding nearly $1 trillion to its market cap.</p>\n<p>That’s a tough act to follow, particularly with the March quarter, which always slows from the holiday-boosted December quarter. But Apple could pull off the quintuple double again when its results come out after the bell Wednesday. The Street certainly thinks so, even if the market, which has pushed Apple shares up less than 2% in 2021, has been more cautious. Consensus estimates call for double-digit increases from last year across the board: iPhones sales up 43%, to $41.4 billion; iPad sales up 29%, to $5.6 billion; Mac sales of $6.8 billion, up 27%; wearables sales (mostly Apple Watch and AirPods) of $7.4 billion, up 18%; and a 16% bump in services, to $15.5 billion.</p>\n<p>Overall, the Street consensus expects sales of $77 billion, up 32% from a year ago, with profits of 98 cents a share. That would be the fastest top-line growth rate for any Apple quarter since March 2012, when revenues were about half what they are now. And most bullish Apple analysts seem to think their own estimates are too low—a print at $77 billion would likely trigger a selloff in the stock.</p>\n<p>Apple is also&nbsp;expected to provide an update on its capital-allocation strategy. A year ago,the company announced a 6% dividend increase, and boosted its stock repurchase plan by $50 billion. Apple has said repeatedly that it is pushing to get to a cash neutral position, but its remarkably big cash flow has slowed progress toward that goal.</p>\n<p>As always, the quarter is about more than just earnings.</p>\n<p>For one, the Street will be looking for signs that the sales surge for Macs and iPads is sustainable—and that the company is keeping up with demand despite widespread chip and display shortages. Some investors worry that the spike in PC demand could ebb as more people return to schools and offices. They’ll be looking for company guidance on that point.</p>\n<p>Another is the sustainability of the resurgence in iPhone growth. There were high hopes among bulls that the iPhone 12 would drive a “supercycle” with an accelerated replacement cycle. Several analysts have noted that a clear consumer preference for the high end of the iPhone 12 line is driving up average selling prices, which should support a strong revenue quarter for the segment.</p>\n<p>“Given the later-than-seasonal launch of new iPhones in the fall of 2020, we believe iPhone demand will experience more favorable year-over-year comparisons this March quarter compared to past years,” writes Monness Crespi Hardt’s Brian White, who sees 47% iPhone revenue growth during the quarter.</p>\n<p>And if Apple pulls it all together? Apple could crush Street estimates, writes Morgan Stanley analyst Katy Huberty, who has an Overweight rating and a $158 price target on the stock, up 17% from Monday’s close of $134.72. She sees the top line above $80 billion, with all segments growing at least 19% year over year. She is especially bullish on Mac and iPad sales, with estimates far above consensus—53% for Macs and 52% for iPads. She also expects Apple to increase its dividend by 10% and expand its stock repurchase program by $60 billion.</p>\n<p>That would certainly qualify as a job well done.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-28 09:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/apple-could-blow-the-top-off-earningsagain-what-that-would-mean-for-the-stock-51619495288?mod=hp_DAY_Theme_1_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech giant just might be able to pull it off.\nThe buzz around Apple last year was off the charts, even for...</p>\n\n<a href=\"https://www.barrons.com/articles/apple-could-blow-the-top-off-earningsagain-what-that-would-mean-for-the-stock-51619495288?mod=hp_DAY_Theme_1_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/apple-could-blow-the-top-off-earningsagain-what-that-would-mean-for-the-stock-51619495288?mod=hp_DAY_Theme_1_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179396069","content_text":"Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech giant just might be able to pull it off.\nThe buzz around Apple last year was off the charts, even for what is the buzziest of technology companies. Anticipation of the fall launch of the company’s first 5G phones, surging demand for both Macs and iPads as the pandemic rolled on, and strength in both wearables and services fed off each other. The pieces all came together in the December quarter, when Apple (ticker: AAPL) posted its biggest quarter ever. Sales soared 21% to $111.4 billion, more than $8 billion over the Street consensus. Every product category—iPhone, iPad, Macs, wearables, and services—notched double-digit growth. Apple stock finished the year up 81%, adding nearly $1 trillion to its market cap.\nThat’s a tough act to follow, particularly with the March quarter, which always slows from the holiday-boosted December quarter. But Apple could pull off the quintuple double again when its results come out after the bell Wednesday. The Street certainly thinks so, even if the market, which has pushed Apple shares up less than 2% in 2021, has been more cautious. Consensus estimates call for double-digit increases from last year across the board: iPhones sales up 43%, to $41.4 billion; iPad sales up 29%, to $5.6 billion; Mac sales of $6.8 billion, up 27%; wearables sales (mostly Apple Watch and AirPods) of $7.4 billion, up 18%; and a 16% bump in services, to $15.5 billion.\nOverall, the Street consensus expects sales of $77 billion, up 32% from a year ago, with profits of 98 cents a share. That would be the fastest top-line growth rate for any Apple quarter since March 2012, when revenues were about half what they are now. And most bullish Apple analysts seem to think their own estimates are too low—a print at $77 billion would likely trigger a selloff in the stock.\nApple is also expected to provide an update on its capital-allocation strategy. A year ago,the company announced a 6% dividend increase, and boosted its stock repurchase plan by $50 billion. Apple has said repeatedly that it is pushing to get to a cash neutral position, but its remarkably big cash flow has slowed progress toward that goal.\nAs always, the quarter is about more than just earnings.\nFor one, the Street will be looking for signs that the sales surge for Macs and iPads is sustainable—and that the company is keeping up with demand despite widespread chip and display shortages. Some investors worry that the spike in PC demand could ebb as more people return to schools and offices. They’ll be looking for company guidance on that point.\nAnother is the sustainability of the resurgence in iPhone growth. There were high hopes among bulls that the iPhone 12 would drive a “supercycle” with an accelerated replacement cycle. Several analysts have noted that a clear consumer preference for the high end of the iPhone 12 line is driving up average selling prices, which should support a strong revenue quarter for the segment.\n“Given the later-than-seasonal launch of new iPhones in the fall of 2020, we believe iPhone demand will experience more favorable year-over-year comparisons this March quarter compared to past years,” writes Monness Crespi Hardt’s Brian White, who sees 47% iPhone revenue growth during the quarter.\nAnd if Apple pulls it all together? Apple could crush Street estimates, writes Morgan Stanley analyst Katy Huberty, who has an Overweight rating and a $158 price target on the stock, up 17% from Monday’s close of $134.72. She sees the top line above $80 billion, with all segments growing at least 19% year over year. She is especially bullish on Mac and iPad sales, with estimates far above consensus—53% for Macs and 52% for iPads. She also expects Apple to increase its dividend by 10% and expand its stock repurchase program by $60 billion.\nThat would certainly qualify as a job well done.","news_type":1},"isVote":1,"tweetType":1,"viewCount":194,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}