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06-20

Comparing Cisco rise with Nvidia is meaningless. Cisco was primarily network devices and softwares which can be easily copied and replicated by other companies. But Nvidia has a strong MOAT around their business. Their hardware and software ecosystem cannot be easily copied.

Nvidia’s Ascent to Most Valuable Company Has Echoes of Dot-Com Boom

2022-01-24

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2021-08-19

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Cisco was primarily network devices and softwares which can be easily copied and replicated by other companies. But Nvidia has a strong MOAT around their business. Their hardware and software ecosystem cannot be easily copied.&nbsp;","listText":"Comparing Cisco rise with Nvidia is meaningless. Cisco was primarily network devices and softwares which can be easily copied and replicated by other companies. But Nvidia has a strong MOAT around their business. Their hardware and software ecosystem cannot be easily copied.&nbsp;","text":"Comparing Cisco rise with Nvidia is meaningless. Cisco was primarily network devices and softwares which can be easily copied and replicated by other companies. But Nvidia has a strong MOAT around their business. Their hardware and software ecosystem cannot be easily copied.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/318829049942264","repostId":"2444496535","repostType":4,"repost":{"id":"2444496535","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1718850370,"share":"https://www.laohu8.com/m/news/2444496535?lang=&edition=full","pubTime":"2024-06-20 10:26","market":"us","language":"en","title":"Nvidia’s Ascent to Most Valuable Company Has Echoes of Dot-Com Boom","url":"https://stock-news.laohu8.com/highlight/detail?id=2444496535","media":"Dow Jones","summary":"Nvidia has become the U.S.'s most valuable listed company because of the demand for its artificial-intelligence chips, leading a tech boom that brings back memories of one from earlier this century.Nvidia's chips have been the workhorses of the AI boom, essential tools in the creation of sophisticated AI systems that have captured the public's imagination with their ability to produce cogent text, images and audio with minimal prompting.Cisco was riding the wave of a different revolution -- the internet -- where its products powered that budding industry. Like Nvidia, Cisco also surpassed Microsoft to become the most valuable company.Nvidia, a 31-year-old company, became the world's most valuable firm on Tuesday. The stock closed at $135.58, giving the chip maker a valuation of $3.335 trillion, just above Microsoft at $3.317 trillion.The stunning rise has won plaudits from analysts who agree with Chief Executive Jensen Huang's assertion that AI is the foundation of a new industrial rev","content":"<html><head></head><body><p>Nvidia became the world’s most valuable listed company Tuesday thanks to the demand for its artificial-intelligence chips, leading a tech boom that brings back memories from around the start of this century.</p><p style=\"text-align: start;\">Nvidia’s chips have been the workhorses of the AI boom, essential tools in the creation of sophisticated AI systems that have captured the public’s imagination with their ability to produce cogent text, images and audio with minimal prompting.</p><p>The last time a big provider of computing infrastructure was the most valuable U.S. company was in March 2000, when networking-equipment company Cisco took that spot at the height of the dot-com boom.</p><p style=\"text-align: start;\">Cisco was riding the wave of a different revolution—the internet—where its products powered that budding industry. Like Nvidia, Cisco also surpassed Microsoft to become the most valuable company.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/eaaed97289824fc52550674d1f4dc6c4\" alt=\"Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWS\" title=\"Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWS\" tg-width=\"700\" tg-height=\"466\"/><span>Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWS</span></p><p>John Chambers, who was chief executive of Cisco during the dot-com boom, said there are some parallels, but the dynamics of the AI revolution are different from previous ones such as the internet and cloud computing. Chambers, now a venture investor, has made big bets on AI in cybersecurity and other arenas.</p><p style=\"text-align: start;\">“The implications in terms of the size of the market opportunity is that of the internet and cloud computing combined,” he said. “The speed of change is different, the size of the market is different, the stage when the most valuable company was reached is different.”</p><p style=\"text-align: start;\">Nvidia, a 31-year-old company, became the world’s most valuable listed firm on Tuesday. The stock closed at $135.58, giving the chip maker a valuation of $3.335 trillion, just above Microsoft at $3.317 trillion. </p><p>It marks the first time a company other than Microsoft or Apple has held the title of largest company since February 2019, when Amazon.com briefly topped the list. Nvidia was ranked fifth largest by market valuation a year ago and was ranked 10th largest two years ago. Five years ago, it wasn’t in the top 20 largest companies.</p><p style=\"text-align: start;\">The scramble among tech giants such as Microsoft, Meta and Amazon to lead the way in AI’s development and capture its hoped-for benefits has led to a chip-buying spree that lifted Nvidia’s revenue to unprecedented heights. In its latest quarter, the company brought in $26 billion, more than triple the same period a year before.</p><p style=\"text-align: start;\">Nvidia’s stock was the best performer in the S&amp;P 500 in 2023 and has more than tripled in value over the past 12 months. The company’s value hit $3 trillion this month, less than four months after it reached the $2 trillion mark. </p><p style=\"text-align: start;\">Nvidia split its shares 10-for-1 this month, a move aimed at lowering the price of each share and making it more accessible to investors.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/e2561f10e9058f72d0429251f7814c84\" tg-width=\"622\" tg-height=\"510\"/></p><p>The stunning rise has won plaudits from analysts who agree with Chief Executive Jensen Huang’s assertion that AI is the foundation of a new industrial revolution to which the company is the key supplier. Huang says Nvidia is building “AI factories” that take in data and churn out intelligence.</p><p style=\"text-align: start;\">Nvidia “will be the most important company to our civilization over the next decade as the world becomes more AI-driven,” CFRA Research analyst Angelo Zino said recently. The chips Nvidia pioneered will be the most important invention of this century, he said.</p><p style=\"text-align: start;\">The insatiable flow of money into AI has raised eyebrows among investors uncertain the boom can continue without pause. Some $50 billion has been invested in Nvidia’s chips since the boom began, according to a Sequoia Capital estimate in March, but generative-AI startups have only brought in $3 billion in sales.</p><p>That imbalance, Sequoia partner Sonya Huang said at the time, meant “we’ve got some real problems to fix.”</p><p style=\"text-align: start;\">Capital Economics chief economist Neil Shearing on Monday said “enthusiasm around AI has all the hallmarks of an inflating bubble” and would likely help keep U.S. stocks rising for the next year and a half. But it would eventually burst, he said, with the U.S. market “destined for a period of significant underperformance” to follow.</p><p style=\"text-align: start;\">Nvidia and its chief, Huang, are showing few signs of concern, despite an array of challenges around them, from feisty competitors to regulators increasingly scrutinizing the company’s dominance in the AI-chip market, where analysts suggest it has a share of above 80%.</p><p>Huang early this month was in Taiwan, where he gave an address and announced new details about a future generation of AI chips set to arrive in 2026.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d21ed4f10444f99183aa67fa3e56fd02\" alt=\"With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWS\" title=\"With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWS\" tg-width=\"700\" tg-height=\"467\"/><span>With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWS</span></p><p style=\"text-align: start;\">With the rise of the stock, he has taken on an aura of stardom usually reserved for pop singers and athletes, not 61-year-old tech executives. At the company’s annual conference in March, Huang gave his keynote speech from a stage at an 11,000-capacity arena; in Taiwan, he was pictured autographing the chest area of a woman’s shirt.</p><p style=\"text-align: start;\">Chambers said Huang was working from a different playbook than Cisco but was facing some similar challenges. Nvidia has a dominant market share, much like Cisco did with its products as the internet grew, and is fending off rising competition. Also like Nvidia, Cisco benefited from investments before the industry became profitable. </p><p style=\"text-align: start;\">“We were absolutely in the right spot at the right time, and we knew it, and we went for it,” Chambers said.</p><p style=\"text-align: start;\">Cisco’s stock price has yet to tap its high from that era.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia’s Ascent to Most Valuable Company Has Echoes of Dot-Com Boom</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia’s Ascent to Most Valuable Company Has Echoes of Dot-Com Boom\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-06-20 10:26</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Nvidia became the world’s most valuable listed company Tuesday thanks to the demand for its artificial-intelligence chips, leading a tech boom that brings back memories from around the start of this century.</p><p style=\"text-align: start;\">Nvidia’s chips have been the workhorses of the AI boom, essential tools in the creation of sophisticated AI systems that have captured the public’s imagination with their ability to produce cogent text, images and audio with minimal prompting.</p><p>The last time a big provider of computing infrastructure was the most valuable U.S. company was in March 2000, when networking-equipment company Cisco took that spot at the height of the dot-com boom.</p><p style=\"text-align: start;\">Cisco was riding the wave of a different revolution—the internet—where its products powered that budding industry. Like Nvidia, Cisco also surpassed Microsoft to become the most valuable company.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/eaaed97289824fc52550674d1f4dc6c4\" alt=\"Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWS\" title=\"Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWS\" tg-width=\"700\" tg-height=\"466\"/><span>Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWS</span></p><p>John Chambers, who was chief executive of Cisco during the dot-com boom, said there are some parallels, but the dynamics of the AI revolution are different from previous ones such as the internet and cloud computing. Chambers, now a venture investor, has made big bets on AI in cybersecurity and other arenas.</p><p style=\"text-align: start;\">“The implications in terms of the size of the market opportunity is that of the internet and cloud computing combined,” he said. “The speed of change is different, the size of the market is different, the stage when the most valuable company was reached is different.”</p><p style=\"text-align: start;\">Nvidia, a 31-year-old company, became the world’s most valuable listed firm on Tuesday. The stock closed at $135.58, giving the chip maker a valuation of $3.335 trillion, just above Microsoft at $3.317 trillion. </p><p>It marks the first time a company other than Microsoft or Apple has held the title of largest company since February 2019, when Amazon.com briefly topped the list. Nvidia was ranked fifth largest by market valuation a year ago and was ranked 10th largest two years ago. Five years ago, it wasn’t in the top 20 largest companies.</p><p style=\"text-align: start;\">The scramble among tech giants such as Microsoft, Meta and Amazon to lead the way in AI’s development and capture its hoped-for benefits has led to a chip-buying spree that lifted Nvidia’s revenue to unprecedented heights. In its latest quarter, the company brought in $26 billion, more than triple the same period a year before.</p><p style=\"text-align: start;\">Nvidia’s stock was the best performer in the S&amp;P 500 in 2023 and has more than tripled in value over the past 12 months. The company’s value hit $3 trillion this month, less than four months after it reached the $2 trillion mark. </p><p style=\"text-align: start;\">Nvidia split its shares 10-for-1 this month, a move aimed at lowering the price of each share and making it more accessible to investors.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/e2561f10e9058f72d0429251f7814c84\" tg-width=\"622\" tg-height=\"510\"/></p><p>The stunning rise has won plaudits from analysts who agree with Chief Executive Jensen Huang’s assertion that AI is the foundation of a new industrial revolution to which the company is the key supplier. Huang says Nvidia is building “AI factories” that take in data and churn out intelligence.</p><p style=\"text-align: start;\">Nvidia “will be the most important company to our civilization over the next decade as the world becomes more AI-driven,” CFRA Research analyst Angelo Zino said recently. The chips Nvidia pioneered will be the most important invention of this century, he said.</p><p style=\"text-align: start;\">The insatiable flow of money into AI has raised eyebrows among investors uncertain the boom can continue without pause. Some $50 billion has been invested in Nvidia’s chips since the boom began, according to a Sequoia Capital estimate in March, but generative-AI startups have only brought in $3 billion in sales.</p><p>That imbalance, Sequoia partner Sonya Huang said at the time, meant “we’ve got some real problems to fix.”</p><p style=\"text-align: start;\">Capital Economics chief economist Neil Shearing on Monday said “enthusiasm around AI has all the hallmarks of an inflating bubble” and would likely help keep U.S. stocks rising for the next year and a half. But it would eventually burst, he said, with the U.S. market “destined for a period of significant underperformance” to follow.</p><p style=\"text-align: start;\">Nvidia and its chief, Huang, are showing few signs of concern, despite an array of challenges around them, from feisty competitors to regulators increasingly scrutinizing the company’s dominance in the AI-chip market, where analysts suggest it has a share of above 80%.</p><p>Huang early this month was in Taiwan, where he gave an address and announced new details about a future generation of AI chips set to arrive in 2026.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d21ed4f10444f99183aa67fa3e56fd02\" alt=\"With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWS\" title=\"With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWS\" tg-width=\"700\" tg-height=\"467\"/><span>With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWS</span></p><p style=\"text-align: start;\">With the rise of the stock, he has taken on an aura of stardom usually reserved for pop singers and athletes, not 61-year-old tech executives. At the company’s annual conference in March, Huang gave his keynote speech from a stage at an 11,000-capacity arena; in Taiwan, he was pictured autographing the chest area of a woman’s shirt.</p><p style=\"text-align: start;\">Chambers said Huang was working from a different playbook than Cisco but was facing some similar challenges. Nvidia has a dominant market share, much like Cisco did with its products as the internet grew, and is fending off rising competition. Also like Nvidia, Cisco benefited from investments before the industry became profitable. </p><p style=\"text-align: start;\">“We were absolutely in the right spot at the right time, and we knew it, and we went for it,” Chambers said.</p><p style=\"text-align: start;\">Cisco’s stock price has yet to tap its high from that era.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4532":"文艺复兴科技持仓","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","BK4535":"淡马锡持仓","LU1059921491.USD":"NORDEA 1 GLOBAL STABLE EQUITY \"HB\" (USDHDG) ACC","LU0072462426.USD":"贝莱德全球配置 A2","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","NVDA":"英伟达","BK4020":"通信设备","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0238689110.USD":"贝莱德环球动力股票基金","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU1599440770.SGD":"FIDELITY GLOBAL DIVIDEND \"A\" (SGDHDG) INC","BK4504":"桥水持仓","BK4567":"ESG概念","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","AAPL":"苹果","BK4516":"特朗普概念","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4588":"碎股","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","BK4550":"红杉资本持仓","BK4577":"网络游戏","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","GB00B4QBRK32.GBP":"FUNDSMITH EQUITY \"R\" (GBP) INC","SG9999001424.SGD":"United E-Commerce Fund SGD","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU0109392836.USD":"富兰克林科技股A","BK4592":"伊斯兰概念","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","BK4528":"SaaS概念","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU1506573853.SGD":"MANULIFE GF GLOBAL EQUITY \"AA\" (SGD) INC","MSFT":"微软"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2444496535","content_text":"Nvidia became the world’s most valuable listed company Tuesday thanks to the demand for its artificial-intelligence chips, leading a tech boom that brings back memories from around the start of this century.Nvidia’s chips have been the workhorses of the AI boom, essential tools in the creation of sophisticated AI systems that have captured the public’s imagination with their ability to produce cogent text, images and audio with minimal prompting.The last time a big provider of computing infrastructure was the most valuable U.S. company was in March 2000, when networking-equipment company Cisco took that spot at the height of the dot-com boom.Cisco was riding the wave of a different revolution—the internet—where its products powered that budding industry. Like Nvidia, Cisco also surpassed Microsoft to become the most valuable company.Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWSJohn Chambers, who was chief executive of Cisco during the dot-com boom, said there are some parallels, but the dynamics of the AI revolution are different from previous ones such as the internet and cloud computing. Chambers, now a venture investor, has made big bets on AI in cybersecurity and other arenas.“The implications in terms of the size of the market opportunity is that of the internet and cloud computing combined,” he said. “The speed of change is different, the size of the market is different, the stage when the most valuable company was reached is different.”Nvidia, a 31-year-old company, became the world’s most valuable listed firm on Tuesday. The stock closed at $135.58, giving the chip maker a valuation of $3.335 trillion, just above Microsoft at $3.317 trillion. It marks the first time a company other than Microsoft or Apple has held the title of largest company since February 2019, when Amazon.com briefly topped the list. Nvidia was ranked fifth largest by market valuation a year ago and was ranked 10th largest two years ago. Five years ago, it wasn’t in the top 20 largest companies.The scramble among tech giants such as Microsoft, Meta and Amazon to lead the way in AI’s development and capture its hoped-for benefits has led to a chip-buying spree that lifted Nvidia’s revenue to unprecedented heights. In its latest quarter, the company brought in $26 billion, more than triple the same period a year before.Nvidia’s stock was the best performer in the S&P 500 in 2023 and has more than tripled in value over the past 12 months. The company’s value hit $3 trillion this month, less than four months after it reached the $2 trillion mark. Nvidia split its shares 10-for-1 this month, a move aimed at lowering the price of each share and making it more accessible to investors.The stunning rise has won plaudits from analysts who agree with Chief Executive Jensen Huang’s assertion that AI is the foundation of a new industrial revolution to which the company is the key supplier. Huang says Nvidia is building “AI factories” that take in data and churn out intelligence.Nvidia “will be the most important company to our civilization over the next decade as the world becomes more AI-driven,” CFRA Research analyst Angelo Zino said recently. The chips Nvidia pioneered will be the most important invention of this century, he said.The insatiable flow of money into AI has raised eyebrows among investors uncertain the boom can continue without pause. Some $50 billion has been invested in Nvidia’s chips since the boom began, according to a Sequoia Capital estimate in March, but generative-AI startups have only brought in $3 billion in sales.That imbalance, Sequoia partner Sonya Huang said at the time, meant “we’ve got some real problems to fix.”Capital Economics chief economist Neil Shearing on Monday said “enthusiasm around AI has all the hallmarks of an inflating bubble” and would likely help keep U.S. stocks rising for the next year and a half. But it would eventually burst, he said, with the U.S. market “destined for a period of significant underperformance” to follow.Nvidia and its chief, Huang, are showing few signs of concern, despite an array of challenges around them, from feisty competitors to regulators increasingly scrutinizing the company’s dominance in the AI-chip market, where analysts suggest it has a share of above 80%.Huang early this month was in Taiwan, where he gave an address and announced new details about a future generation of AI chips set to arrive in 2026.With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWSWith the rise of the stock, he has taken on an aura of stardom usually reserved for pop singers and athletes, not 61-year-old tech executives. At the company’s annual conference in March, Huang gave his keynote speech from a stage at an 11,000-capacity arena; in Taiwan, he was pictured autographing the chest area of a woman’s shirt.Chambers said Huang was working from a different playbook than Cisco but was facing some similar challenges. Nvidia has a dominant market share, much like Cisco did with its products as the internet grew, and is fending off rising competition. Also like Nvidia, Cisco benefited from investments before the industry became profitable. “We were absolutely in the right spot at the right time, and we knew it, and we went for it,” Chambers said.Cisco’s stock price has yet to tap its high from that era.","news_type":1},"isVote":1,"tweetType":1,"viewCount":330,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9090098056,"gmtCreate":1643031093206,"gmtModify":1676533766390,"author":{"id":"3584513219545047","authorId":"3584513219545047","name":"Samsarah","avatar":"https://static.tigerbbs.com/7deef8bedb3be98c6ad36e4afc0f3fbb","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Will AMZN come back to higher levels ?","listText":"Will AMZN come back to higher levels ?","text":"Will AMZN come back to higher levels ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090098056","repostId":"2205024236","repostType":4,"repost":{"id":"2205024236","pubTimestamp":1642979398,"share":"https://www.laohu8.com/m/news/2205024236?lang=&edition=full","pubTime":"2022-01-24 07:09","market":"us","language":"en","title":"Is the market crashing? No. Here's what's happening to stocks, bonds as the Fed aims to end the days of easy money, analysts say","url":"https://stock-news.laohu8.com/highlight/detail?id=2205024236","media":"MarketWatch","summary":"As the stock market has convulsed lower and yields for bonds have surged in recent weeks, culminatin","content":"<html><head></head><body><p>As the stock market has convulsed lower and yields for bonds have surged in recent weeks, culminating in a so-called correction for the Nasdaq Composite Index, average Americans are wondering what’s amiss with Wall Street.</p><p>Increasingly, Google searches have been focused on the state of the market (and the economy), and for a good reason.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eb8919922a7b0b50fe4cc9b6dcb60555\" tg-width=\"700\" tg-height=\"442\" referrerpolicy=\"no-referrer\"/><span>Timothy A. Clary/AFP/Getty Images</span></p><p>The Dow Jones Industrial Average just posted its worst weekly loss since October 2020 and the S&amp;P 500 and Nasdaq Composite logged their worst weekly percentage drops since March 20, 2020, according to Dow Jones Market Data shows.</p><p>Searches on Google featured the following popular queries: “Is the market crashing?” And “why is the market crashing?”</p><p><b>What is a market crash?</b></p><p>To be sure, the market isn’t crashing inasmuch as the term “crashing” is even a quantifiable market condition. Declines in stocks and other assets are sometimes described in hyperbolic terms that offer little real substance about the significance of the move.</p><p>There is no precise definition for a “crash” but it is usually described in terms of time, suddenness, and/or by severity.</p><p>Jay Hatfield, chief investment officer at Infrastructure Capital Management, on Saturday told MarketWatch that he might characterize a crash as a decline in an asset of at least 50%, which could happen swiftly or over a year, but acknowledged that the term is sometimes used too loosely to describe run-of-the-mill downturns. He saw bitcoin’s move as a crash, for example.</p><p>He said the overall equity market’s current slump didn’t meet his crash definition, in any regard, but did say stocks were in a fragile state.</p><p>“It’s not crashing but it is very weak,” Hatfield said.</p><p><b>What’s happening? </b></p><p>Equity benchmarks are being substantially recalibrated from lofty heights as the economy heads into a new monetary-policy regime in the battle against the pandemic and surging inflation. On top of that, doubts about parts of the economy, and events outside of the country, such as China-U.S. relations, the Russia-Ukraine conflict, and Middle East unrest, are also contributing to a bearish, or pessimistic tone, for investors.</p><p>The confluence of uncertainties has markets in or near a correction or headed for a bear market, which are terms that are used with more precision when talking about market declines.</p><p>The recent drop in stocks, of course, is nothing new but it may feel a bit unsettling for new investors, and, perhaps, even some veterans.</p><p>The Nasdaq Composite entered correction last Wednesday, ringing up a fall of at least 10% from its recent Nov. 19 peak, which meets the commonly used Wall Street definition for a correction. The Nasdaq Composite last entered correction March 8, 2021. On Friday, the Nasdaq Composite stood over 14% below its November peak and was inching toward a so-called bear market, usually described by market technicians as a decline of at least 20% from a recent peak.</p><p>Meanwhile, the blue-chip Dow industrials stood 6.89% beneath its Jan. 4 all-time high, or 3.11 percentage points from a correction, as of Friday’s close; while the S&amp;P 500 was down 8.31% from its Jan. 3 record, putting it a mere 1.69 percentage points from entering a correction.</p><p>Worth noting also, the small-capitalization Russell 2000 index was 18.6% from its recent peak, putting it 1.4 percentage points from a bear market.</p><p>Underpinning the shift in bullish sentiment is a three-pronged approach by the Federal Reserve toward tighter monetary policy: tapering market-supportive asset purchases, with an eye toward likely concluding those purchases by March; raising benchmark interest rates, which currently stand at a range between 0% and 0.25%, at least three times this year, based on market-based projections; and shrinking its nearly $9 trillion balance sheet, which has grown considerably as the central bank sought to serve as a backstop for markets during a swoon in March 2020 caused by the pandemic rocking the economy.</p><p>Taken together, the central-bank’s tactics to combat a burst of high inflation would remove hundreds of billions of dollars of liquidity from markets that have been awash in funds from the Fed and fiscal stimulus from the government during the coronavirus crisis.</p><p>Uncertainty about economic growth this year and the prospect of higher-interest-rates are compelling investors to reprice technology and high growth stocks, whose valuations are especially tied to the present value of their cash flows, as well as undermining speculative assets, including crypto such as bitcoin and Ethereum.</p><p>“Excessive Fed liquidity had the effect of inflating many asset classes, including meme stocks, unprofitable tech stocks, SPACs[special-purpose acquisition companies], and cryptocurrency,” Hatfield said.</p><p>He said the rise in yields for the 10-year Treasury note, which has climbed more than 20 basis points in 2022, marking the biggest advance at the start of a new year since 2009, is more a symptom of the expectation of liquidity being removed.</p><p>“Liquidity is the key driver, not interest rates, as almost all publicly traded stocks have approximately the same duration/interest rate sensitivity so tech stocks are not disproportionately impacted by rate rises, despite market commentary to the contrary,” Hatfield said.</p><p>In any case, the rate-setting Federal Open Market Committee is likely to spend its Jan. 25-26 meeting laying the groundwork for a further shift in policy, which the market is attempting to price into valuations.</p><p><b>How often do markets slump?</b></p><p>Investors ought to be forgiven for thinking that markets only go up. The stock market has been resilient, even during the pandemic.</p><p>Still, declines of 5% or more are a frequent occurrence on Wall Street.</p><p>Sam Stovall, chief investment strategist at CFRA, said he viewed the current slump for markets as “a very typical tumble.”</p><p>“Is it a crash? No. But it is an average decline, believe it or not, it is,” he told MarketWatch over the weekend.</p><p>“I would say that the market is doing what it does. A bull market takes the escalator up but bear markets take the elevator down, and as a result people get very scared when the market declines,” he said.</p><p>Stovall prefers to categorize market declines by overall magnitude and doesn’t offer specific criteria for a “crash.”</p><p>“[Declines of] zero to 5%, I call noise but the closer we get to 5% the louder the noise,” he said. He said a 5%-10% decline qualifies as a pullback, a drop of at least 10% is a correction for him and a fall of 20% or greater is a bear market.</p><p>Salil Mehta, a statistician and a former director of analytics for the U.S. Treasury Department’s TARP program following the 2008 financial crisis, told MarketWatch that given the S&amp;P 500’s drop of over 8%, the probability of a 10%-14% drop from here is 31%, while there is a one-out-of-five chance of a total drop of 30% or more from current levels.</p><p>The statistician said there is “a similar probability that the current drawdown eventually turns into something twice as large. And a similar probability the current drawdown instead is over.”</p><p>Stovall said it is important to know that markets can swing back in a hurry after downturns. He said it can take the S&amp;P 500 on average of 135 days to get to a correction from peak to trough and only 116 days on average to get back to break even based on data going back to World War II.</p><p>Stovall says that this downturn may also be exacerbated by seasonal factors. The researcher said that markets tend to do poorly in the second year of a president’s tenure. “We call it the sophomore slump,” he said.</p><p>“Volatility has been 40% higher in the sophomore year, compared with the other three years of the presidential term,” he said.</p><p>Stovall said one other factor to consider is that markets tend to do a lot of digesting after a year when returns have been 20% or greater. The S&amp;P 500 registered a 26.89% gain in 2021 and is down 7.7% so far in 2022.</p><p>There have been 20 other occasions when the S&amp;P 500 index posted a calendar year gain of 20% or more and experienced a decline of at least 5% in the subsequent year. When such a decline, after a big gain in the previous year, has happened in the first half of the new year, and it has on 12 occasions, the market has gotten back to break even 100% of the times.</p><p>Stovall notes that that’s not statistically significant but still notable.</p><p><b>What should investors do? </b></p><p>The best strategy during downturns may be no strategy at all, but it all depends on your risk tolerance and your time horizon. “Doing nothing is often the best strategy,” Hatfield said.</p><p>He also pointed to defensive sectors, such as consumer staples, utilities and energy, which often carry healthy dividends and higher-yielding investments like preferred stock as a good option for investors looking to hedge in the face of possibly more volatility.</p><p>Financial experts normally caution against doing anything rash, but they also say some Americans have more reason to be concerned than others, depending on their age and investment profile. Someone who is older may want to discuss the situation with their financial adviser and a younger investor may be able to hold tight if they are comfortable with their current investment setup, strategists say.</p><p>Pullbacks can be opportunities for asset accumulation if an investor is prudent and judicious in selecting their investments. However, downturns often result in hive thinking, with market participants selling in droves.</p><p>Market declines “shake investor confidence and tends to beget more selling,” Hatfield said.</p><p>Ultimately, though investors need to be cautious and smart about how they think about the market, even in the face of so-called crashes.</p></body></html>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is the market crashing? No. Here's what's happening to stocks, bonds as the Fed aims to end the days of easy money, analysts say</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs the market crashing? No. Here's what's happening to stocks, bonds as the Fed aims to end the days of easy money, analysts say\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-24 07:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/is-the-market-crashing-no-heres-whats-happening-to-stocks-bonds-as-the-fed-aims-to-end-the-days-of-easy-money-analysts-say-11642892638?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As the stock market has convulsed lower and yields for bonds have surged in recent weeks, culminating in a so-called correction for the Nasdaq Composite Index, average Americans are wondering what’s ...</p>\n\n<a href=\"https://www.marketwatch.com/story/is-the-market-crashing-no-heres-whats-happening-to-stocks-bonds-as-the-fed-aims-to-end-the-days-of-easy-money-analysts-say-11642892638?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":{"BK4514":"搜索引擎","XLE":"SPDR能源指数ETF","BK4507":"流媒体概念",".IXIC":"NASDAQ Composite","XLP":"消费品指数ETF-SPDR主要消费品","BK4548":"巴美列捷福持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4550":"红杉资本持仓","BK4525":"远程办公概念","BK4566":"资本集团",".DJI":"道琼斯","BK4504":"桥水持仓","XLU":"公共事业指数ETF-SPDR","BK4559":"巴菲特持仓","BK4553":"喜马拉雅资本持仓","BK4527":"明星科技股","SPY":"标普500ETF","GOOG":"谷歌","BK4534":"瑞士信贷持仓","BK4554":"元宇宙及AR概念","BK4561":"索罗斯持仓","BK4077":"互动媒体与服务",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/is-the-market-crashing-no-heres-whats-happening-to-stocks-bonds-as-the-fed-aims-to-end-the-days-of-easy-money-analysts-say-11642892638?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2205024236","content_text":"As the stock market has convulsed lower and yields for bonds have surged in recent weeks, culminating in a so-called correction for the Nasdaq Composite Index, average Americans are wondering what’s amiss with Wall Street.Increasingly, Google searches have been focused on the state of the market (and the economy), and for a good reason.Timothy A. Clary/AFP/Getty ImagesThe Dow Jones Industrial Average just posted its worst weekly loss since October 2020 and the S&P 500 and Nasdaq Composite logged their worst weekly percentage drops since March 20, 2020, according to Dow Jones Market Data shows.Searches on Google featured the following popular queries: “Is the market crashing?” And “why is the market crashing?”What is a market crash?To be sure, the market isn’t crashing inasmuch as the term “crashing” is even a quantifiable market condition. Declines in stocks and other assets are sometimes described in hyperbolic terms that offer little real substance about the significance of the move.There is no precise definition for a “crash” but it is usually described in terms of time, suddenness, and/or by severity.Jay Hatfield, chief investment officer at Infrastructure Capital Management, on Saturday told MarketWatch that he might characterize a crash as a decline in an asset of at least 50%, which could happen swiftly or over a year, but acknowledged that the term is sometimes used too loosely to describe run-of-the-mill downturns. He saw bitcoin’s move as a crash, for example.He said the overall equity market’s current slump didn’t meet his crash definition, in any regard, but did say stocks were in a fragile state.“It’s not crashing but it is very weak,” Hatfield said.What’s happening? Equity benchmarks are being substantially recalibrated from lofty heights as the economy heads into a new monetary-policy regime in the battle against the pandemic and surging inflation. On top of that, doubts about parts of the economy, and events outside of the country, such as China-U.S. relations, the Russia-Ukraine conflict, and Middle East unrest, are also contributing to a bearish, or pessimistic tone, for investors.The confluence of uncertainties has markets in or near a correction or headed for a bear market, which are terms that are used with more precision when talking about market declines.The recent drop in stocks, of course, is nothing new but it may feel a bit unsettling for new investors, and, perhaps, even some veterans.The Nasdaq Composite entered correction last Wednesday, ringing up a fall of at least 10% from its recent Nov. 19 peak, which meets the commonly used Wall Street definition for a correction. The Nasdaq Composite last entered correction March 8, 2021. On Friday, the Nasdaq Composite stood over 14% below its November peak and was inching toward a so-called bear market, usually described by market technicians as a decline of at least 20% from a recent peak.Meanwhile, the blue-chip Dow industrials stood 6.89% beneath its Jan. 4 all-time high, or 3.11 percentage points from a correction, as of Friday’s close; while the S&P 500 was down 8.31% from its Jan. 3 record, putting it a mere 1.69 percentage points from entering a correction.Worth noting also, the small-capitalization Russell 2000 index was 18.6% from its recent peak, putting it 1.4 percentage points from a bear market.Underpinning the shift in bullish sentiment is a three-pronged approach by the Federal Reserve toward tighter monetary policy: tapering market-supportive asset purchases, with an eye toward likely concluding those purchases by March; raising benchmark interest rates, which currently stand at a range between 0% and 0.25%, at least three times this year, based on market-based projections; and shrinking its nearly $9 trillion balance sheet, which has grown considerably as the central bank sought to serve as a backstop for markets during a swoon in March 2020 caused by the pandemic rocking the economy.Taken together, the central-bank’s tactics to combat a burst of high inflation would remove hundreds of billions of dollars of liquidity from markets that have been awash in funds from the Fed and fiscal stimulus from the government during the coronavirus crisis.Uncertainty about economic growth this year and the prospect of higher-interest-rates are compelling investors to reprice technology and high growth stocks, whose valuations are especially tied to the present value of their cash flows, as well as undermining speculative assets, including crypto such as bitcoin and Ethereum.“Excessive Fed liquidity had the effect of inflating many asset classes, including meme stocks, unprofitable tech stocks, SPACs[special-purpose acquisition companies], and cryptocurrency,” Hatfield said.He said the rise in yields for the 10-year Treasury note, which has climbed more than 20 basis points in 2022, marking the biggest advance at the start of a new year since 2009, is more a symptom of the expectation of liquidity being removed.“Liquidity is the key driver, not interest rates, as almost all publicly traded stocks have approximately the same duration/interest rate sensitivity so tech stocks are not disproportionately impacted by rate rises, despite market commentary to the contrary,” Hatfield said.In any case, the rate-setting Federal Open Market Committee is likely to spend its Jan. 25-26 meeting laying the groundwork for a further shift in policy, which the market is attempting to price into valuations.How often do markets slump?Investors ought to be forgiven for thinking that markets only go up. The stock market has been resilient, even during the pandemic.Still, declines of 5% or more are a frequent occurrence on Wall Street.Sam Stovall, chief investment strategist at CFRA, said he viewed the current slump for markets as “a very typical tumble.”“Is it a crash? No. But it is an average decline, believe it or not, it is,” he told MarketWatch over the weekend.“I would say that the market is doing what it does. A bull market takes the escalator up but bear markets take the elevator down, and as a result people get very scared when the market declines,” he said.Stovall prefers to categorize market declines by overall magnitude and doesn’t offer specific criteria for a “crash.”“[Declines of] zero to 5%, I call noise but the closer we get to 5% the louder the noise,” he said. He said a 5%-10% decline qualifies as a pullback, a drop of at least 10% is a correction for him and a fall of 20% or greater is a bear market.Salil Mehta, a statistician and a former director of analytics for the U.S. Treasury Department’s TARP program following the 2008 financial crisis, told MarketWatch that given the S&P 500’s drop of over 8%, the probability of a 10%-14% drop from here is 31%, while there is a one-out-of-five chance of a total drop of 30% or more from current levels.The statistician said there is “a similar probability that the current drawdown eventually turns into something twice as large. And a similar probability the current drawdown instead is over.”Stovall said it is important to know that markets can swing back in a hurry after downturns. He said it can take the S&P 500 on average of 135 days to get to a correction from peak to trough and only 116 days on average to get back to break even based on data going back to World War II.Stovall says that this downturn may also be exacerbated by seasonal factors. The researcher said that markets tend to do poorly in the second year of a president’s tenure. “We call it the sophomore slump,” he said.“Volatility has been 40% higher in the sophomore year, compared with the other three years of the presidential term,” he said.Stovall said one other factor to consider is that markets tend to do a lot of digesting after a year when returns have been 20% or greater. The S&P 500 registered a 26.89% gain in 2021 and is down 7.7% so far in 2022.There have been 20 other occasions when the S&P 500 index posted a calendar year gain of 20% or more and experienced a decline of at least 5% in the subsequent year. When such a decline, after a big gain in the previous year, has happened in the first half of the new year, and it has on 12 occasions, the market has gotten back to break even 100% of the times.Stovall notes that that’s not statistically significant but still notable.What should investors do? The best strategy during downturns may be no strategy at all, but it all depends on your risk tolerance and your time horizon. “Doing nothing is often the best strategy,” Hatfield said.He also pointed to defensive sectors, such as consumer staples, utilities and energy, which often carry healthy dividends and higher-yielding investments like preferred stock as a good option for investors looking to hedge in the face of possibly more volatility.Financial experts normally caution against doing anything rash, but they also say some Americans have more reason to be concerned than others, depending on their age and investment profile. Someone who is older may want to discuss the situation with their financial adviser and a younger investor may be able to hold tight if they are comfortable with their current investment setup, strategists say.Pullbacks can be opportunities for asset accumulation if an investor is prudent and judicious in selecting their investments. However, downturns often result in hive thinking, with market participants selling in droves.Market declines “shake investor confidence and tends to beget more selling,” Hatfield said.Ultimately, though investors need to be cautious and smart about how they think about the market, even in the face of so-called crashes.","news_type":1},"isVote":1,"tweetType":1,"viewCount":187,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838843111,"gmtCreate":1629387035933,"gmtModify":1676530026122,"author":{"id":"3584513219545047","authorId":"3584513219545047","name":"Samsarah","avatar":"https://static.tigerbbs.com/7deef8bedb3be98c6ad36e4afc0f3fbb","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Nvidia ?Gaming , Crypto , AI, Autonomous&nbsp;All future tech&nbsp;","listText":"Nvidia ?Gaming , Crypto , AI, Autonomous&nbsp;All future tech&nbsp;","text":"Nvidia ?Gaming , Crypto , AI, Autonomous All future tech","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/838843111","repostId":"1122762005","repostType":4,"isVote":1,"tweetType":1,"viewCount":156,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":838843111,"gmtCreate":1629387035933,"gmtModify":1676530026122,"author":{"id":"3584513219545047","authorId":"3584513219545047","name":"Samsarah","avatar":"https://static.tigerbbs.com/7deef8bedb3be98c6ad36e4afc0f3fbb","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Nvidia ?Gaming , Crypto , AI, Autonomous&nbsp;All future tech&nbsp;","listText":"Nvidia ?Gaming , Crypto , AI, Autonomous&nbsp;All future tech&nbsp;","text":"Nvidia ?Gaming , Crypto , AI, Autonomous All future tech","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/838843111","repostId":"1122762005","repostType":4,"isVote":1,"tweetType":1,"viewCount":156,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":318829049942264,"gmtCreate":1718852810272,"gmtModify":1718853030061,"author":{"id":"3584513219545047","authorId":"3584513219545047","name":"Samsarah","avatar":"https://static.tigerbbs.com/7deef8bedb3be98c6ad36e4afc0f3fbb","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Comparing Cisco rise with Nvidia is meaningless. Cisco was primarily network devices and softwares which can be easily copied and replicated by other companies. But Nvidia has a strong MOAT around their business. Their hardware and software ecosystem cannot be easily copied.&nbsp;","listText":"Comparing Cisco rise with Nvidia is meaningless. Cisco was primarily network devices and softwares which can be easily copied and replicated by other companies. But Nvidia has a strong MOAT around their business. Their hardware and software ecosystem cannot be easily copied.&nbsp;","text":"Comparing Cisco rise with Nvidia is meaningless. Cisco was primarily network devices and softwares which can be easily copied and replicated by other companies. But Nvidia has a strong MOAT around their business. Their hardware and software ecosystem cannot be easily copied.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/318829049942264","repostId":"2444496535","repostType":4,"repost":{"id":"2444496535","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1718850370,"share":"https://www.laohu8.com/m/news/2444496535?lang=&edition=full","pubTime":"2024-06-20 10:26","market":"us","language":"en","title":"Nvidia’s Ascent to Most Valuable Company Has Echoes of Dot-Com Boom","url":"https://stock-news.laohu8.com/highlight/detail?id=2444496535","media":"Dow Jones","summary":"Nvidia has become the U.S.'s most valuable listed company because of the demand for its artificial-intelligence chips, leading a tech boom that brings back memories of one from earlier this century.Nvidia's chips have been the workhorses of the AI boom, essential tools in the creation of sophisticated AI systems that have captured the public's imagination with their ability to produce cogent text, images and audio with minimal prompting.Cisco was riding the wave of a different revolution -- the internet -- where its products powered that budding industry. Like Nvidia, Cisco also surpassed Microsoft to become the most valuable company.Nvidia, a 31-year-old company, became the world's most valuable firm on Tuesday. The stock closed at $135.58, giving the chip maker a valuation of $3.335 trillion, just above Microsoft at $3.317 trillion.The stunning rise has won plaudits from analysts who agree with Chief Executive Jensen Huang's assertion that AI is the foundation of a new industrial rev","content":"<html><head></head><body><p>Nvidia became the world’s most valuable listed company Tuesday thanks to the demand for its artificial-intelligence chips, leading a tech boom that brings back memories from around the start of this century.</p><p style=\"text-align: start;\">Nvidia’s chips have been the workhorses of the AI boom, essential tools in the creation of sophisticated AI systems that have captured the public’s imagination with their ability to produce cogent text, images and audio with minimal prompting.</p><p>The last time a big provider of computing infrastructure was the most valuable U.S. company was in March 2000, when networking-equipment company Cisco took that spot at the height of the dot-com boom.</p><p style=\"text-align: start;\">Cisco was riding the wave of a different revolution—the internet—where its products powered that budding industry. Like Nvidia, Cisco also surpassed Microsoft to become the most valuable company.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/eaaed97289824fc52550674d1f4dc6c4\" alt=\"Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWS\" title=\"Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWS\" tg-width=\"700\" tg-height=\"466\"/><span>Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWS</span></p><p>John Chambers, who was chief executive of Cisco during the dot-com boom, said there are some parallels, but the dynamics of the AI revolution are different from previous ones such as the internet and cloud computing. Chambers, now a venture investor, has made big bets on AI in cybersecurity and other arenas.</p><p style=\"text-align: start;\">“The implications in terms of the size of the market opportunity is that of the internet and cloud computing combined,” he said. “The speed of change is different, the size of the market is different, the stage when the most valuable company was reached is different.”</p><p style=\"text-align: start;\">Nvidia, a 31-year-old company, became the world’s most valuable listed firm on Tuesday. The stock closed at $135.58, giving the chip maker a valuation of $3.335 trillion, just above Microsoft at $3.317 trillion. </p><p>It marks the first time a company other than Microsoft or Apple has held the title of largest company since February 2019, when Amazon.com briefly topped the list. Nvidia was ranked fifth largest by market valuation a year ago and was ranked 10th largest two years ago. Five years ago, it wasn’t in the top 20 largest companies.</p><p style=\"text-align: start;\">The scramble among tech giants such as Microsoft, Meta and Amazon to lead the way in AI’s development and capture its hoped-for benefits has led to a chip-buying spree that lifted Nvidia’s revenue to unprecedented heights. In its latest quarter, the company brought in $26 billion, more than triple the same period a year before.</p><p style=\"text-align: start;\">Nvidia’s stock was the best performer in the S&amp;P 500 in 2023 and has more than tripled in value over the past 12 months. The company’s value hit $3 trillion this month, less than four months after it reached the $2 trillion mark. </p><p style=\"text-align: start;\">Nvidia split its shares 10-for-1 this month, a move aimed at lowering the price of each share and making it more accessible to investors.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/e2561f10e9058f72d0429251f7814c84\" tg-width=\"622\" tg-height=\"510\"/></p><p>The stunning rise has won plaudits from analysts who agree with Chief Executive Jensen Huang’s assertion that AI is the foundation of a new industrial revolution to which the company is the key supplier. Huang says Nvidia is building “AI factories” that take in data and churn out intelligence.</p><p style=\"text-align: start;\">Nvidia “will be the most important company to our civilization over the next decade as the world becomes more AI-driven,” CFRA Research analyst Angelo Zino said recently. The chips Nvidia pioneered will be the most important invention of this century, he said.</p><p style=\"text-align: start;\">The insatiable flow of money into AI has raised eyebrows among investors uncertain the boom can continue without pause. Some $50 billion has been invested in Nvidia’s chips since the boom began, according to a Sequoia Capital estimate in March, but generative-AI startups have only brought in $3 billion in sales.</p><p>That imbalance, Sequoia partner Sonya Huang said at the time, meant “we’ve got some real problems to fix.”</p><p style=\"text-align: start;\">Capital Economics chief economist Neil Shearing on Monday said “enthusiasm around AI has all the hallmarks of an inflating bubble” and would likely help keep U.S. stocks rising for the next year and a half. But it would eventually burst, he said, with the U.S. market “destined for a period of significant underperformance” to follow.</p><p style=\"text-align: start;\">Nvidia and its chief, Huang, are showing few signs of concern, despite an array of challenges around them, from feisty competitors to regulators increasingly scrutinizing the company’s dominance in the AI-chip market, where analysts suggest it has a share of above 80%.</p><p>Huang early this month was in Taiwan, where he gave an address and announced new details about a future generation of AI chips set to arrive in 2026.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d21ed4f10444f99183aa67fa3e56fd02\" alt=\"With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWS\" title=\"With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWS\" tg-width=\"700\" tg-height=\"467\"/><span>With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWS</span></p><p style=\"text-align: start;\">With the rise of the stock, he has taken on an aura of stardom usually reserved for pop singers and athletes, not 61-year-old tech executives. At the company’s annual conference in March, Huang gave his keynote speech from a stage at an 11,000-capacity arena; in Taiwan, he was pictured autographing the chest area of a woman’s shirt.</p><p style=\"text-align: start;\">Chambers said Huang was working from a different playbook than Cisco but was facing some similar challenges. Nvidia has a dominant market share, much like Cisco did with its products as the internet grew, and is fending off rising competition. Also like Nvidia, Cisco benefited from investments before the industry became profitable. </p><p style=\"text-align: start;\">“We were absolutely in the right spot at the right time, and we knew it, and we went for it,” Chambers said.</p><p style=\"text-align: start;\">Cisco’s stock price has yet to tap its high from that era.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia’s Ascent to Most Valuable Company Has Echoes of Dot-Com Boom</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia’s Ascent to Most Valuable Company Has Echoes of Dot-Com Boom\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-06-20 10:26</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Nvidia became the world’s most valuable listed company Tuesday thanks to the demand for its artificial-intelligence chips, leading a tech boom that brings back memories from around the start of this century.</p><p style=\"text-align: start;\">Nvidia’s chips have been the workhorses of the AI boom, essential tools in the creation of sophisticated AI systems that have captured the public’s imagination with their ability to produce cogent text, images and audio with minimal prompting.</p><p>The last time a big provider of computing infrastructure was the most valuable U.S. company was in March 2000, when networking-equipment company Cisco took that spot at the height of the dot-com boom.</p><p style=\"text-align: start;\">Cisco was riding the wave of a different revolution—the internet—where its products powered that budding industry. Like Nvidia, Cisco also surpassed Microsoft to become the most valuable company.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/eaaed97289824fc52550674d1f4dc6c4\" alt=\"Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWS\" title=\"Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWS\" tg-width=\"700\" tg-height=\"466\"/><span>Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWS</span></p><p>John Chambers, who was chief executive of Cisco during the dot-com boom, said there are some parallels, but the dynamics of the AI revolution are different from previous ones such as the internet and cloud computing. Chambers, now a venture investor, has made big bets on AI in cybersecurity and other arenas.</p><p style=\"text-align: start;\">“The implications in terms of the size of the market opportunity is that of the internet and cloud computing combined,” he said. “The speed of change is different, the size of the market is different, the stage when the most valuable company was reached is different.”</p><p style=\"text-align: start;\">Nvidia, a 31-year-old company, became the world’s most valuable listed firm on Tuesday. The stock closed at $135.58, giving the chip maker a valuation of $3.335 trillion, just above Microsoft at $3.317 trillion. </p><p>It marks the first time a company other than Microsoft or Apple has held the title of largest company since February 2019, when Amazon.com briefly topped the list. Nvidia was ranked fifth largest by market valuation a year ago and was ranked 10th largest two years ago. Five years ago, it wasn’t in the top 20 largest companies.</p><p style=\"text-align: start;\">The scramble among tech giants such as Microsoft, Meta and Amazon to lead the way in AI’s development and capture its hoped-for benefits has led to a chip-buying spree that lifted Nvidia’s revenue to unprecedented heights. In its latest quarter, the company brought in $26 billion, more than triple the same period a year before.</p><p style=\"text-align: start;\">Nvidia’s stock was the best performer in the S&amp;P 500 in 2023 and has more than tripled in value over the past 12 months. The company’s value hit $3 trillion this month, less than four months after it reached the $2 trillion mark. </p><p style=\"text-align: start;\">Nvidia split its shares 10-for-1 this month, a move aimed at lowering the price of each share and making it more accessible to investors.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/e2561f10e9058f72d0429251f7814c84\" tg-width=\"622\" tg-height=\"510\"/></p><p>The stunning rise has won plaudits from analysts who agree with Chief Executive Jensen Huang’s assertion that AI is the foundation of a new industrial revolution to which the company is the key supplier. Huang says Nvidia is building “AI factories” that take in data and churn out intelligence.</p><p style=\"text-align: start;\">Nvidia “will be the most important company to our civilization over the next decade as the world becomes more AI-driven,” CFRA Research analyst Angelo Zino said recently. The chips Nvidia pioneered will be the most important invention of this century, he said.</p><p style=\"text-align: start;\">The insatiable flow of money into AI has raised eyebrows among investors uncertain the boom can continue without pause. Some $50 billion has been invested in Nvidia’s chips since the boom began, according to a Sequoia Capital estimate in March, but generative-AI startups have only brought in $3 billion in sales.</p><p>That imbalance, Sequoia partner Sonya Huang said at the time, meant “we’ve got some real problems to fix.”</p><p style=\"text-align: start;\">Capital Economics chief economist Neil Shearing on Monday said “enthusiasm around AI has all the hallmarks of an inflating bubble” and would likely help keep U.S. stocks rising for the next year and a half. But it would eventually burst, he said, with the U.S. market “destined for a period of significant underperformance” to follow.</p><p style=\"text-align: start;\">Nvidia and its chief, Huang, are showing few signs of concern, despite an array of challenges around them, from feisty competitors to regulators increasingly scrutinizing the company’s dominance in the AI-chip market, where analysts suggest it has a share of above 80%.</p><p>Huang early this month was in Taiwan, where he gave an address and announced new details about a future generation of AI chips set to arrive in 2026.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d21ed4f10444f99183aa67fa3e56fd02\" alt=\"With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWS\" title=\"With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWS\" tg-width=\"700\" tg-height=\"467\"/><span>With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWS</span></p><p style=\"text-align: start;\">With the rise of the stock, he has taken on an aura of stardom usually reserved for pop singers and athletes, not 61-year-old tech executives. At the company’s annual conference in March, Huang gave his keynote speech from a stage at an 11,000-capacity arena; in Taiwan, he was pictured autographing the chest area of a woman’s shirt.</p><p style=\"text-align: start;\">Chambers said Huang was working from a different playbook than Cisco but was facing some similar challenges. Nvidia has a dominant market share, much like Cisco did with its products as the internet grew, and is fending off rising competition. Also like Nvidia, Cisco benefited from investments before the industry became profitable. </p><p style=\"text-align: start;\">“We were absolutely in the right spot at the right time, and we knew it, and we went for it,” Chambers said.</p><p style=\"text-align: start;\">Cisco’s stock price has yet to tap its high from that era.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4532":"文艺复兴科技持仓","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","BK4535":"淡马锡持仓","LU1059921491.USD":"NORDEA 1 GLOBAL STABLE EQUITY \"HB\" (USDHDG) ACC","LU0072462426.USD":"贝莱德全球配置 A2","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","NVDA":"英伟达","BK4020":"通信设备","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0238689110.USD":"贝莱德环球动力股票基金","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU1599440770.SGD":"FIDELITY GLOBAL DIVIDEND \"A\" (SGDHDG) INC","BK4504":"桥水持仓","BK4567":"ESG概念","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","AAPL":"苹果","BK4516":"特朗普概念","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4588":"碎股","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","BK4550":"红杉资本持仓","BK4577":"网络游戏","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","GB00B4QBRK32.GBP":"FUNDSMITH EQUITY \"R\" (GBP) INC","SG9999001424.SGD":"United E-Commerce Fund SGD","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU0109392836.USD":"富兰克林科技股A","BK4592":"伊斯兰概念","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","BK4528":"SaaS概念","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU1506573853.SGD":"MANULIFE GF GLOBAL EQUITY \"AA\" (SGD) INC","MSFT":"微软"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2444496535","content_text":"Nvidia became the world’s most valuable listed company Tuesday thanks to the demand for its artificial-intelligence chips, leading a tech boom that brings back memories from around the start of this century.Nvidia’s chips have been the workhorses of the AI boom, essential tools in the creation of sophisticated AI systems that have captured the public’s imagination with their ability to produce cogent text, images and audio with minimal prompting.The last time a big provider of computing infrastructure was the most valuable U.S. company was in March 2000, when networking-equipment company Cisco took that spot at the height of the dot-com boom.Cisco was riding the wave of a different revolution—the internet—where its products powered that budding industry. Like Nvidia, Cisco also surpassed Microsoft to become the most valuable company.Nvidia CEO Jensen Huang says the company is building ‘AI factories’ that take in data and churn out intelligence. PHOTO: IAN MAULE/BLOOMBERG NEWSJohn Chambers, who was chief executive of Cisco during the dot-com boom, said there are some parallels, but the dynamics of the AI revolution are different from previous ones such as the internet and cloud computing. Chambers, now a venture investor, has made big bets on AI in cybersecurity and other arenas.“The implications in terms of the size of the market opportunity is that of the internet and cloud computing combined,” he said. “The speed of change is different, the size of the market is different, the stage when the most valuable company was reached is different.”Nvidia, a 31-year-old company, became the world’s most valuable listed firm on Tuesday. The stock closed at $135.58, giving the chip maker a valuation of $3.335 trillion, just above Microsoft at $3.317 trillion. It marks the first time a company other than Microsoft or Apple has held the title of largest company since February 2019, when Amazon.com briefly topped the list. Nvidia was ranked fifth largest by market valuation a year ago and was ranked 10th largest two years ago. Five years ago, it wasn’t in the top 20 largest companies.The scramble among tech giants such as Microsoft, Meta and Amazon to lead the way in AI’s development and capture its hoped-for benefits has led to a chip-buying spree that lifted Nvidia’s revenue to unprecedented heights. In its latest quarter, the company brought in $26 billion, more than triple the same period a year before.Nvidia’s stock was the best performer in the S&P 500 in 2023 and has more than tripled in value over the past 12 months. The company’s value hit $3 trillion this month, less than four months after it reached the $2 trillion mark. Nvidia split its shares 10-for-1 this month, a move aimed at lowering the price of each share and making it more accessible to investors.The stunning rise has won plaudits from analysts who agree with Chief Executive Jensen Huang’s assertion that AI is the foundation of a new industrial revolution to which the company is the key supplier. Huang says Nvidia is building “AI factories” that take in data and churn out intelligence.Nvidia “will be the most important company to our civilization over the next decade as the world becomes more AI-driven,” CFRA Research analyst Angelo Zino said recently. The chips Nvidia pioneered will be the most important invention of this century, he said.The insatiable flow of money into AI has raised eyebrows among investors uncertain the boom can continue without pause. Some $50 billion has been invested in Nvidia’s chips since the boom began, according to a Sequoia Capital estimate in March, but generative-AI startups have only brought in $3 billion in sales.That imbalance, Sequoia partner Sonya Huang said at the time, meant “we’ve got some real problems to fix.”Capital Economics chief economist Neil Shearing on Monday said “enthusiasm around AI has all the hallmarks of an inflating bubble” and would likely help keep U.S. stocks rising for the next year and a half. But it would eventually burst, he said, with the U.S. market “destined for a period of significant underperformance” to follow.Nvidia and its chief, Huang, are showing few signs of concern, despite an array of challenges around them, from feisty competitors to regulators increasingly scrutinizing the company’s dominance in the AI-chip market, where analysts suggest it has a share of above 80%.Huang early this month was in Taiwan, where he gave an address and announced new details about a future generation of AI chips set to arrive in 2026.With the rise of Nvidia stock, CEO Huang has taken on an aura of stardom. PHOTO: IAN MAULE/BLOOMBERG NEWSWith the rise of the stock, he has taken on an aura of stardom usually reserved for pop singers and athletes, not 61-year-old tech executives. At the company’s annual conference in March, Huang gave his keynote speech from a stage at an 11,000-capacity arena; in Taiwan, he was pictured autographing the chest area of a woman’s shirt.Chambers said Huang was working from a different playbook than Cisco but was facing some similar challenges. Nvidia has a dominant market share, much like Cisco did with its products as the internet grew, and is fending off rising competition. Also like Nvidia, Cisco benefited from investments before the industry became profitable. “We were absolutely in the right spot at the right time, and we knew it, and we went for it,” Chambers said.Cisco’s stock price has yet to tap its high from that era.","news_type":1},"isVote":1,"tweetType":1,"viewCount":330,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9090098056,"gmtCreate":1643031093206,"gmtModify":1676533766390,"author":{"id":"3584513219545047","authorId":"3584513219545047","name":"Samsarah","avatar":"https://static.tigerbbs.com/7deef8bedb3be98c6ad36e4afc0f3fbb","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Will AMZN come back to higher levels ?","listText":"Will AMZN come back to higher levels ?","text":"Will AMZN come back to higher levels ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090098056","repostId":"2205024236","repostType":4,"repost":{"id":"2205024236","pubTimestamp":1642979398,"share":"https://www.laohu8.com/m/news/2205024236?lang=&edition=full","pubTime":"2022-01-24 07:09","market":"us","language":"en","title":"Is the market crashing? No. Here's what's happening to stocks, bonds as the Fed aims to end the days of easy money, analysts say","url":"https://stock-news.laohu8.com/highlight/detail?id=2205024236","media":"MarketWatch","summary":"As the stock market has convulsed lower and yields for bonds have surged in recent weeks, culminatin","content":"<html><head></head><body><p>As the stock market has convulsed lower and yields for bonds have surged in recent weeks, culminating in a so-called correction for the Nasdaq Composite Index, average Americans are wondering what’s amiss with Wall Street.</p><p>Increasingly, Google searches have been focused on the state of the market (and the economy), and for a good reason.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eb8919922a7b0b50fe4cc9b6dcb60555\" tg-width=\"700\" tg-height=\"442\" referrerpolicy=\"no-referrer\"/><span>Timothy A. Clary/AFP/Getty Images</span></p><p>The Dow Jones Industrial Average just posted its worst weekly loss since October 2020 and the S&amp;P 500 and Nasdaq Composite logged their worst weekly percentage drops since March 20, 2020, according to Dow Jones Market Data shows.</p><p>Searches on Google featured the following popular queries: “Is the market crashing?” And “why is the market crashing?”</p><p><b>What is a market crash?</b></p><p>To be sure, the market isn’t crashing inasmuch as the term “crashing” is even a quantifiable market condition. Declines in stocks and other assets are sometimes described in hyperbolic terms that offer little real substance about the significance of the move.</p><p>There is no precise definition for a “crash” but it is usually described in terms of time, suddenness, and/or by severity.</p><p>Jay Hatfield, chief investment officer at Infrastructure Capital Management, on Saturday told MarketWatch that he might characterize a crash as a decline in an asset of at least 50%, which could happen swiftly or over a year, but acknowledged that the term is sometimes used too loosely to describe run-of-the-mill downturns. He saw bitcoin’s move as a crash, for example.</p><p>He said the overall equity market’s current slump didn’t meet his crash definition, in any regard, but did say stocks were in a fragile state.</p><p>“It’s not crashing but it is very weak,” Hatfield said.</p><p><b>What’s happening? </b></p><p>Equity benchmarks are being substantially recalibrated from lofty heights as the economy heads into a new monetary-policy regime in the battle against the pandemic and surging inflation. On top of that, doubts about parts of the economy, and events outside of the country, such as China-U.S. relations, the Russia-Ukraine conflict, and Middle East unrest, are also contributing to a bearish, or pessimistic tone, for investors.</p><p>The confluence of uncertainties has markets in or near a correction or headed for a bear market, which are terms that are used with more precision when talking about market declines.</p><p>The recent drop in stocks, of course, is nothing new but it may feel a bit unsettling for new investors, and, perhaps, even some veterans.</p><p>The Nasdaq Composite entered correction last Wednesday, ringing up a fall of at least 10% from its recent Nov. 19 peak, which meets the commonly used Wall Street definition for a correction. The Nasdaq Composite last entered correction March 8, 2021. On Friday, the Nasdaq Composite stood over 14% below its November peak and was inching toward a so-called bear market, usually described by market technicians as a decline of at least 20% from a recent peak.</p><p>Meanwhile, the blue-chip Dow industrials stood 6.89% beneath its Jan. 4 all-time high, or 3.11 percentage points from a correction, as of Friday’s close; while the S&amp;P 500 was down 8.31% from its Jan. 3 record, putting it a mere 1.69 percentage points from entering a correction.</p><p>Worth noting also, the small-capitalization Russell 2000 index was 18.6% from its recent peak, putting it 1.4 percentage points from a bear market.</p><p>Underpinning the shift in bullish sentiment is a three-pronged approach by the Federal Reserve toward tighter monetary policy: tapering market-supportive asset purchases, with an eye toward likely concluding those purchases by March; raising benchmark interest rates, which currently stand at a range between 0% and 0.25%, at least three times this year, based on market-based projections; and shrinking its nearly $9 trillion balance sheet, which has grown considerably as the central bank sought to serve as a backstop for markets during a swoon in March 2020 caused by the pandemic rocking the economy.</p><p>Taken together, the central-bank’s tactics to combat a burst of high inflation would remove hundreds of billions of dollars of liquidity from markets that have been awash in funds from the Fed and fiscal stimulus from the government during the coronavirus crisis.</p><p>Uncertainty about economic growth this year and the prospect of higher-interest-rates are compelling investors to reprice technology and high growth stocks, whose valuations are especially tied to the present value of their cash flows, as well as undermining speculative assets, including crypto such as bitcoin and Ethereum.</p><p>“Excessive Fed liquidity had the effect of inflating many asset classes, including meme stocks, unprofitable tech stocks, SPACs[special-purpose acquisition companies], and cryptocurrency,” Hatfield said.</p><p>He said the rise in yields for the 10-year Treasury note, which has climbed more than 20 basis points in 2022, marking the biggest advance at the start of a new year since 2009, is more a symptom of the expectation of liquidity being removed.</p><p>“Liquidity is the key driver, not interest rates, as almost all publicly traded stocks have approximately the same duration/interest rate sensitivity so tech stocks are not disproportionately impacted by rate rises, despite market commentary to the contrary,” Hatfield said.</p><p>In any case, the rate-setting Federal Open Market Committee is likely to spend its Jan. 25-26 meeting laying the groundwork for a further shift in policy, which the market is attempting to price into valuations.</p><p><b>How often do markets slump?</b></p><p>Investors ought to be forgiven for thinking that markets only go up. The stock market has been resilient, even during the pandemic.</p><p>Still, declines of 5% or more are a frequent occurrence on Wall Street.</p><p>Sam Stovall, chief investment strategist at CFRA, said he viewed the current slump for markets as “a very typical tumble.”</p><p>“Is it a crash? No. But it is an average decline, believe it or not, it is,” he told MarketWatch over the weekend.</p><p>“I would say that the market is doing what it does. A bull market takes the escalator up but bear markets take the elevator down, and as a result people get very scared when the market declines,” he said.</p><p>Stovall prefers to categorize market declines by overall magnitude and doesn’t offer specific criteria for a “crash.”</p><p>“[Declines of] zero to 5%, I call noise but the closer we get to 5% the louder the noise,” he said. He said a 5%-10% decline qualifies as a pullback, a drop of at least 10% is a correction for him and a fall of 20% or greater is a bear market.</p><p>Salil Mehta, a statistician and a former director of analytics for the U.S. Treasury Department’s TARP program following the 2008 financial crisis, told MarketWatch that given the S&amp;P 500’s drop of over 8%, the probability of a 10%-14% drop from here is 31%, while there is a one-out-of-five chance of a total drop of 30% or more from current levels.</p><p>The statistician said there is “a similar probability that the current drawdown eventually turns into something twice as large. And a similar probability the current drawdown instead is over.”</p><p>Stovall said it is important to know that markets can swing back in a hurry after downturns. He said it can take the S&amp;P 500 on average of 135 days to get to a correction from peak to trough and only 116 days on average to get back to break even based on data going back to World War II.</p><p>Stovall says that this downturn may also be exacerbated by seasonal factors. The researcher said that markets tend to do poorly in the second year of a president’s tenure. “We call it the sophomore slump,” he said.</p><p>“Volatility has been 40% higher in the sophomore year, compared with the other three years of the presidential term,” he said.</p><p>Stovall said one other factor to consider is that markets tend to do a lot of digesting after a year when returns have been 20% or greater. The S&amp;P 500 registered a 26.89% gain in 2021 and is down 7.7% so far in 2022.</p><p>There have been 20 other occasions when the S&amp;P 500 index posted a calendar year gain of 20% or more and experienced a decline of at least 5% in the subsequent year. When such a decline, after a big gain in the previous year, has happened in the first half of the new year, and it has on 12 occasions, the market has gotten back to break even 100% of the times.</p><p>Stovall notes that that’s not statistically significant but still notable.</p><p><b>What should investors do? </b></p><p>The best strategy during downturns may be no strategy at all, but it all depends on your risk tolerance and your time horizon. “Doing nothing is often the best strategy,” Hatfield said.</p><p>He also pointed to defensive sectors, such as consumer staples, utilities and energy, which often carry healthy dividends and higher-yielding investments like preferred stock as a good option for investors looking to hedge in the face of possibly more volatility.</p><p>Financial experts normally caution against doing anything rash, but they also say some Americans have more reason to be concerned than others, depending on their age and investment profile. Someone who is older may want to discuss the situation with their financial adviser and a younger investor may be able to hold tight if they are comfortable with their current investment setup, strategists say.</p><p>Pullbacks can be opportunities for asset accumulation if an investor is prudent and judicious in selecting their investments. However, downturns often result in hive thinking, with market participants selling in droves.</p><p>Market declines “shake investor confidence and tends to beget more selling,” Hatfield said.</p><p>Ultimately, though investors need to be cautious and smart about how they think about the market, even in the face of so-called crashes.</p></body></html>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is the market crashing? No. Here's what's happening to stocks, bonds as the Fed aims to end the days of easy money, analysts say</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs the market crashing? No. Here's what's happening to stocks, bonds as the Fed aims to end the days of easy money, analysts say\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-24 07:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/is-the-market-crashing-no-heres-whats-happening-to-stocks-bonds-as-the-fed-aims-to-end-the-days-of-easy-money-analysts-say-11642892638?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As the stock market has convulsed lower and yields for bonds have surged in recent weeks, culminating in a so-called correction for the Nasdaq Composite Index, average Americans are wondering what’s ...</p>\n\n<a href=\"https://www.marketwatch.com/story/is-the-market-crashing-no-heres-whats-happening-to-stocks-bonds-as-the-fed-aims-to-end-the-days-of-easy-money-analysts-say-11642892638?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":{"BK4514":"搜索引擎","XLE":"SPDR能源指数ETF","BK4507":"流媒体概念",".IXIC":"NASDAQ Composite","XLP":"消费品指数ETF-SPDR主要消费品","BK4548":"巴美列捷福持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4550":"红杉资本持仓","BK4525":"远程办公概念","BK4566":"资本集团",".DJI":"道琼斯","BK4504":"桥水持仓","XLU":"公共事业指数ETF-SPDR","BK4559":"巴菲特持仓","BK4553":"喜马拉雅资本持仓","BK4527":"明星科技股","SPY":"标普500ETF","GOOG":"谷歌","BK4534":"瑞士信贷持仓","BK4554":"元宇宙及AR概念","BK4561":"索罗斯持仓","BK4077":"互动媒体与服务",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/is-the-market-crashing-no-heres-whats-happening-to-stocks-bonds-as-the-fed-aims-to-end-the-days-of-easy-money-analysts-say-11642892638?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2205024236","content_text":"As the stock market has convulsed lower and yields for bonds have surged in recent weeks, culminating in a so-called correction for the Nasdaq Composite Index, average Americans are wondering what’s amiss with Wall Street.Increasingly, Google searches have been focused on the state of the market (and the economy), and for a good reason.Timothy A. Clary/AFP/Getty ImagesThe Dow Jones Industrial Average just posted its worst weekly loss since October 2020 and the S&P 500 and Nasdaq Composite logged their worst weekly percentage drops since March 20, 2020, according to Dow Jones Market Data shows.Searches on Google featured the following popular queries: “Is the market crashing?” And “why is the market crashing?”What is a market crash?To be sure, the market isn’t crashing inasmuch as the term “crashing” is even a quantifiable market condition. Declines in stocks and other assets are sometimes described in hyperbolic terms that offer little real substance about the significance of the move.There is no precise definition for a “crash” but it is usually described in terms of time, suddenness, and/or by severity.Jay Hatfield, chief investment officer at Infrastructure Capital Management, on Saturday told MarketWatch that he might characterize a crash as a decline in an asset of at least 50%, which could happen swiftly or over a year, but acknowledged that the term is sometimes used too loosely to describe run-of-the-mill downturns. He saw bitcoin’s move as a crash, for example.He said the overall equity market’s current slump didn’t meet his crash definition, in any regard, but did say stocks were in a fragile state.“It’s not crashing but it is very weak,” Hatfield said.What’s happening? Equity benchmarks are being substantially recalibrated from lofty heights as the economy heads into a new monetary-policy regime in the battle against the pandemic and surging inflation. On top of that, doubts about parts of the economy, and events outside of the country, such as China-U.S. relations, the Russia-Ukraine conflict, and Middle East unrest, are also contributing to a bearish, or pessimistic tone, for investors.The confluence of uncertainties has markets in or near a correction or headed for a bear market, which are terms that are used with more precision when talking about market declines.The recent drop in stocks, of course, is nothing new but it may feel a bit unsettling for new investors, and, perhaps, even some veterans.The Nasdaq Composite entered correction last Wednesday, ringing up a fall of at least 10% from its recent Nov. 19 peak, which meets the commonly used Wall Street definition for a correction. The Nasdaq Composite last entered correction March 8, 2021. On Friday, the Nasdaq Composite stood over 14% below its November peak and was inching toward a so-called bear market, usually described by market technicians as a decline of at least 20% from a recent peak.Meanwhile, the blue-chip Dow industrials stood 6.89% beneath its Jan. 4 all-time high, or 3.11 percentage points from a correction, as of Friday’s close; while the S&P 500 was down 8.31% from its Jan. 3 record, putting it a mere 1.69 percentage points from entering a correction.Worth noting also, the small-capitalization Russell 2000 index was 18.6% from its recent peak, putting it 1.4 percentage points from a bear market.Underpinning the shift in bullish sentiment is a three-pronged approach by the Federal Reserve toward tighter monetary policy: tapering market-supportive asset purchases, with an eye toward likely concluding those purchases by March; raising benchmark interest rates, which currently stand at a range between 0% and 0.25%, at least three times this year, based on market-based projections; and shrinking its nearly $9 trillion balance sheet, which has grown considerably as the central bank sought to serve as a backstop for markets during a swoon in March 2020 caused by the pandemic rocking the economy.Taken together, the central-bank’s tactics to combat a burst of high inflation would remove hundreds of billions of dollars of liquidity from markets that have been awash in funds from the Fed and fiscal stimulus from the government during the coronavirus crisis.Uncertainty about economic growth this year and the prospect of higher-interest-rates are compelling investors to reprice technology and high growth stocks, whose valuations are especially tied to the present value of their cash flows, as well as undermining speculative assets, including crypto such as bitcoin and Ethereum.“Excessive Fed liquidity had the effect of inflating many asset classes, including meme stocks, unprofitable tech stocks, SPACs[special-purpose acquisition companies], and cryptocurrency,” Hatfield said.He said the rise in yields for the 10-year Treasury note, which has climbed more than 20 basis points in 2022, marking the biggest advance at the start of a new year since 2009, is more a symptom of the expectation of liquidity being removed.“Liquidity is the key driver, not interest rates, as almost all publicly traded stocks have approximately the same duration/interest rate sensitivity so tech stocks are not disproportionately impacted by rate rises, despite market commentary to the contrary,” Hatfield said.In any case, the rate-setting Federal Open Market Committee is likely to spend its Jan. 25-26 meeting laying the groundwork for a further shift in policy, which the market is attempting to price into valuations.How often do markets slump?Investors ought to be forgiven for thinking that markets only go up. The stock market has been resilient, even during the pandemic.Still, declines of 5% or more are a frequent occurrence on Wall Street.Sam Stovall, chief investment strategist at CFRA, said he viewed the current slump for markets as “a very typical tumble.”“Is it a crash? No. But it is an average decline, believe it or not, it is,” he told MarketWatch over the weekend.“I would say that the market is doing what it does. A bull market takes the escalator up but bear markets take the elevator down, and as a result people get very scared when the market declines,” he said.Stovall prefers to categorize market declines by overall magnitude and doesn’t offer specific criteria for a “crash.”“[Declines of] zero to 5%, I call noise but the closer we get to 5% the louder the noise,” he said. He said a 5%-10% decline qualifies as a pullback, a drop of at least 10% is a correction for him and a fall of 20% or greater is a bear market.Salil Mehta, a statistician and a former director of analytics for the U.S. Treasury Department’s TARP program following the 2008 financial crisis, told MarketWatch that given the S&P 500’s drop of over 8%, the probability of a 10%-14% drop from here is 31%, while there is a one-out-of-five chance of a total drop of 30% or more from current levels.The statistician said there is “a similar probability that the current drawdown eventually turns into something twice as large. And a similar probability the current drawdown instead is over.”Stovall said it is important to know that markets can swing back in a hurry after downturns. He said it can take the S&P 500 on average of 135 days to get to a correction from peak to trough and only 116 days on average to get back to break even based on data going back to World War II.Stovall says that this downturn may also be exacerbated by seasonal factors. The researcher said that markets tend to do poorly in the second year of a president’s tenure. “We call it the sophomore slump,” he said.“Volatility has been 40% higher in the sophomore year, compared with the other three years of the presidential term,” he said.Stovall said one other factor to consider is that markets tend to do a lot of digesting after a year when returns have been 20% or greater. The S&P 500 registered a 26.89% gain in 2021 and is down 7.7% so far in 2022.There have been 20 other occasions when the S&P 500 index posted a calendar year gain of 20% or more and experienced a decline of at least 5% in the subsequent year. When such a decline, after a big gain in the previous year, has happened in the first half of the new year, and it has on 12 occasions, the market has gotten back to break even 100% of the times.Stovall notes that that’s not statistically significant but still notable.What should investors do? The best strategy during downturns may be no strategy at all, but it all depends on your risk tolerance and your time horizon. “Doing nothing is often the best strategy,” Hatfield said.He also pointed to defensive sectors, such as consumer staples, utilities and energy, which often carry healthy dividends and higher-yielding investments like preferred stock as a good option for investors looking to hedge in the face of possibly more volatility.Financial experts normally caution against doing anything rash, but they also say some Americans have more reason to be concerned than others, depending on their age and investment profile. Someone who is older may want to discuss the situation with their financial adviser and a younger investor may be able to hold tight if they are comfortable with their current investment setup, strategists say.Pullbacks can be opportunities for asset accumulation if an investor is prudent and judicious in selecting their investments. However, downturns often result in hive thinking, with market participants selling in droves.Market declines “shake investor confidence and tends to beget more selling,” Hatfield said.Ultimately, though investors need to be cautious and smart about how they think about the market, even in the face of so-called crashes.","news_type":1},"isVote":1,"tweetType":1,"viewCount":187,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}