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2021-06-16

I too agree that the market is on a bull run to some sort of a bubble. A reminder to be cautious. It all depends on your risk appetite, whether you are willing to invest the amount you are willing to lose. Or you are confident to take that positions now for potential growth in the horizon of 5 to 10 years or more.

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

2021-06-15

Good read!

Investors and the Fed aren't freaking out about inflation. Should they?

2021-06-15

Wait for it to fall further?

2021-06-11

A good semiconductor stock?

2021-06-11

This is really a great write up. Reminding us of what making a good investment is. Growth in the long term!

Making Money in the Stock Market Is Easy -- If You Avoid This 1 Thing

2021-06-11

A highly prospective Big Data company?

2021-06-08

Apple doing electric car now? Seems like the electric car competition can only get fiercer.

Apple in talks with CATL, BYD over battery supplies for its electric car -sources

2021-06-08

How high can Apple grow?

2021-06-06

For the future!

2021-06-06

I'll go for BeyondMeat. Their business can only grow with increasing need to feed the world's population with foods that are produced through carbon neutral/green solutions. But still, the acceptannce of people to eat food that are grown in lab is a big challenge for them to overcome.

7 Stocks That Could Bounce Back as Inflation Worries Subside

2021-06-06

Good read. A good stock for future growth or have it reached its full potential of growth? Let's find out!

Micron: A Strong Chip Shortage Play

2021-06-05

Would most probably be a good opportunity to buy before WWDC

Should You Buy Apple Stock Before WWDC?

2021-06-05

A good growth stock?

2021-06-04

That's good! Fintech sector will be one of the few drivers to drive the Singapore economy in the future!

Singapore’s Fintech Honcho Has Vision of Asian Silicon Valley

2021-06-04

I think technology and semiconductor stocks have a huge potential to grow more with the trend on digitalisation and push to adopt green technology solutions.

The Top 50 Robinhood Stocks in June

2021-06-04

More competition, lower price!

Sorry, the original content has been removed

2021-06-04

Any recommendation for good platform to buy crypto?

Let the crypto price wars begin, as Robinhood touts ‘commission free’ trade vs. Coinbase rivals

Go to Tiger App to see more news

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It all depends on your risk appetite, whether you are willing to invest the amount you are willing to lose. Or you are confident to take that positions now for potential growth in the horizon of 5 to 10 years or more.","listText":"I too agree that the market is on a bull run to some sort of a bubble.&nbsp;A reminder to be cautious. It all depends on your risk appetite, whether you are willing to invest the amount you are willing to lose. Or you are confident to take that positions now for potential growth in the horizon of 5 to 10 years or more.","text":"I too agree that the market is on a bull run to some sort of a bubble. A reminder to be cautious. It all depends on your risk appetite, whether you are willing to invest the amount you are willing to lose. Or you are confident to take that positions now for potential growth in the horizon of 5 to 10 years or more.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169371370","repostId":"1182315358","repostType":4,"repost":{"id":"1182315358","pubTimestamp":1623814338,"share":"https://ttm.financial/m/news/1182315358?lang=&edition=fundamental","pubTime":"2021-06-16 11:32","market":"us","language":"en","title":"It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1182315358","media":"MarketWatch","summary":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn","content":"<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/724d1ea0bb18bddb367c79abf08c1af9\" tg-width=\"1260\" tg-height=\"841\"><span>It takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)</span></p>\n<p>I don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.</p>\n<p>After 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.</p>\n<p>Maybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.</p>\n<p>But I simply don’t think that’s the most likely outcome.</p>\n<p>And if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.</p>\n<p>I’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.</p>\n<p>Trading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how&nbsp;good analysis starts with empathy.</p>\n<p><b>If I’m selling, who’s buying — and why?</b></p>\n<p>So let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference&nbsp;in Abu Dhabi and everybody was desperate for returns:</p>\n<p>Amid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”</p>\n<p>Since that post, back a year and a half ago, Slack&nbsp;went from $21 to being bought out at $45, Twitter&nbsp;went from $27 to $61, and Tesla&nbsp;went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.</p>\n<p>And now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by&nbsp;23-year-old TikTok influencers&nbsp;doing bitcoin&nbsp;trading astrology.</p>\n<p>Yes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.”&nbsp;Bearish anecdotes everywhere I look, as I wrote recently.</p>\n<p><b>Mr. Market</b></p>\n<p>The other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.</p>\n<p>Mr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.</p>\n<p>Sometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average&nbsp;up 400% from the 1921 lows to the 1929 highs.</p>\n<p><img src=\"https://static.tigerbbs.com/3a6516337aacc614d83584ea90e174f2\" tg-width=\"1260\" tg-height=\"870\"></p>\n<p><b>Learning from Soros</b></p>\n<p>But looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,<i>and</i>the economy crashed because the markets shut down access to capital for investment and growth.</p>\n<p>It was “reflexive,” to borrow a term from the great hedge fund manager&nbsp;George Soros.</p>\n<p>He wrote, and the concept is important to understand:</p>\n<p>“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…</p>\n<p>“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…</p>\n<p>“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…</p>\n<p>“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”</p>\n<p>Stay flexible</p>\n<p>Far-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.</p>\n<p>We don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.</p>\n<p>It’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.</p>\n<p>Most traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.</p>\n<p>We are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.</p>\n<p>I spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.</p>\n<p>As a matter of fact,&nbsp;I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 11:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what...</p>\n\n<a href=\"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182315358","content_text":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.\nAfter 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.\nMaybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.\nBut I simply don’t think that’s the most likely outcome.\nAnd if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.\nI’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.\nTrading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how good analysis starts with empathy.\nIf I’m selling, who’s buying — and why?\nSo let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference in Abu Dhabi and everybody was desperate for returns:\nAmid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”\nSince that post, back a year and a half ago, Slack went from $21 to being bought out at $45, Twitter went from $27 to $61, and Tesla went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.\nAnd now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by 23-year-old TikTok influencers doing bitcoin trading astrology.\nYes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.” Bearish anecdotes everywhere I look, as I wrote recently.\nMr. Market\nThe other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.\nMr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.\nSometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average up 400% from the 1921 lows to the 1929 highs.\n\nLearning from Soros\nBut looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,andthe economy crashed because the markets shut down access to capital for investment and growth.\nIt was “reflexive,” to borrow a term from the great hedge fund manager George Soros.\nHe wrote, and the concept is important to understand:\n“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…\n“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…\n“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…\n“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”\nStay flexible\nFar-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.\nWe don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.\nIt’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.\nMost traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.\nWe are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.\nI spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.\nAs a matter of fact, I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?","news_type":1},"isVote":1,"tweetType":1,"viewCount":201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187202541,"gmtCreate":1623754283383,"gmtModify":1704210589409,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"Good read!","listText":"Good read!","text":"Good read!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/187202541","repostId":"1145996523","repostType":4,"repost":{"id":"1145996523","pubTimestamp":1623751116,"share":"https://ttm.financial/m/news/1145996523?lang=&edition=fundamental","pubTime":"2021-06-15 17:58","market":"us","language":"en","title":"Investors and the Fed aren't freaking out about inflation. Should they?","url":"https://stock-news.laohu8.com/highlight/detail?id=1145996523","media":"cnn","summary":"New York (CNN Business)There is a gigantic disconnect between Main Street and Wall Street when it co","content":"<p>New York (CNN Business)There is a gigantic disconnect between Main Street and Wall Street when it comes to inflation. Something's got to give.</p>\n<p>The US government reported last week that consumer prices, excluding food and energy, rose at their fastest clip since 1992 in May. Sherwin-Williams (SHW) is lifting the price of paint, one of many companies that's responding to higher commodities costs.</p>\n<p>Food prices are also surging. Chipotle (CMG) just raised prices. So did Campbell Soup (CPB).</p>\n<p>And the chief financial officer of restaurant and arcade chain Dave &amp; Buster's (PLAY) said during a recent earnings call with analysts that he expects a 6% to 8% increase in food costs for 2021 due to higher chicken, beef and dairy prices.</p>\n<p>Wages are rising too, especially for workers in the retail, leisure and hospitality sectors that are returning to jobs as the economy reopens. That adds to inflationary pressures, because some companies will choose to hike prices in order to maintain profits.</p>\n<p>Labor shortages aren't helping.</p>\n<p>The CEO of online pet retailer Chewy (CHWY) wrote in a letter to shareholders after its latest earnings report that it \"faced labor shortages in our fulfillment centers similar to those being faced by many companies nationwide.\" As a result, Chewy continues \"to invest in higher wages and benefits\" in order to fill job vacancies.</p>\n<p>Yet investors — and the Federal Reserve — are shrugging off rising inflation as \"transitory.\" Long-term bond yields are falling, which isn't what normally happens when inflation runs hot. If bond investors believed that price hikes are here to stay, they'd be demanding higher yields.</p>\n<p>And the market is pricing in just a 3% chance of a rate hike from the Fed by the end of the year. That's down from a 10% likelihood of higher rates just a month ago. Investors know a rate hike is the central bank's best tool to fight rising inflation, and they'll want to hear more on the subject when Fed chair Jerome Powell speaks at a press conference on Wednesday.</p>\n<p>\"The bond market is still not concerned about inflation. It's buying what the Fed is selling,\" said Randy Warren, CEO of Warren Financial.</p>\n<p>The problem is that there is a chance the Fed could wait too long to react to inflation.</p>\n<p>\"Is inflation transitory or something more structural?\" asked Steven Oh, global head of credit and fixed income with PineBridge Investments. \"Will the Fed lose control of it down the road and make a policy error and not have the ability to rein it in?\"</p>\n<p>If the Fed and bond market are wrong about inflation, the central bank may have to wind down its pandemic stimulus much more quickly than it — and investors — would like. That would mean unwinding its big asset purchases and raising rates sooner rather than later.</p>\n<p>Oh doesn't think that will be the case. And many others agree. They argue that investors must keep in mind how rapidly the economy has roared back.</p>\n<p>For that reason, it should not be that big of a surprise that there are dislocations in the job market and supply chain. It will take time for conditions to revert to what they were like in late 2019 and early 2020 before Covid-19.</p>\n<p>\"There are a lot of questions about inflation because you see it in everyday life,\" said Bryan Koslow, principal of Clarus Group, a wealth management firm. \"But we may have seen the peak, especially in terms of wage growth.\"</p>\n<p>Even if that does turn out to be true, the mere fact that investors and consumers are so focused on prices is noteworthy. Inflation has essentially been a non-issue for more than a decade.</p>\n<p>\"The Fed has to take the inflation concerns seriously,\" said Troy Gayeski, co-chief investment officer and senior portfolio manager at SkyBridge Capital. He added that he thinks there is a 20% chance that inflation pressures turn out to be more persistent as opposed to transitory.</p>\n<p>\"The risk of meaningful inflation has been non-existent since 2008. Until now,\" Gayeski said.</p>\n<p><b>What's getting more expensive</b></p>\n<p>Food and paint aren't the only things getting more expensive. As CNN Business' Moira Ritter points out, the prices of just about everything have gone up lately.</p>\n<p>Lumber prices have soared. And the housing market continues to boom. That's led to a big spike in the prices of couches and other household furnishings.</p>\n<p>Used cars are a lot more expensive too. Chalk that up to people returning to work and a dearth of new cars on dealership lots due to the chip supply shortage that has hurt production of new vehicles.</p>\n<p>People are traveling more as well. Airfares have shot up in anticipation of what some are dubbing the red hot vaccine summer.</p>\n<p><b>Up next</b></p>\n<p><b>Tuesday: </b>US retail sales; US producer price index; Earnings from Oracle (ORCL) and H &amp; R Block (HRB)</p>\n<p><b>Wednesday: </b>Federal Reserve rate decision; US housing starts and building permits; EIA crude oil inventories; Earnings from Lennar (LEN)</p>\n<p><b>Thursday: </b>US jobless claims; Earnings from Kroger (KR) and Adobe (ADBE)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investors and the Fed aren't freaking out about inflation. Should they?</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\">\nInvestors and the Fed aren't freaking out about inflation. Should they?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 17:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://edition.cnn.com/2021/06/13/investing/stocks-week-ahead/index.html><strong>cnn</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New York (CNN Business)There is a gigantic disconnect between Main Street and Wall Street when it comes to inflation. Something's got to give.\nThe US government reported last week that consumer prices...</p>\n\n<a href=\"https://edition.cnn.com/2021/06/13/investing/stocks-week-ahead/index.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://edition.cnn.com/2021/06/13/investing/stocks-week-ahead/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145996523","content_text":"New York (CNN Business)There is a gigantic disconnect between Main Street and Wall Street when it comes to inflation. Something's got to give.\nThe US government reported last week that consumer prices, excluding food and energy, rose at their fastest clip since 1992 in May. Sherwin-Williams (SHW) is lifting the price of paint, one of many companies that's responding to higher commodities costs.\nFood prices are also surging. Chipotle (CMG) just raised prices. So did Campbell Soup (CPB).\nAnd the chief financial officer of restaurant and arcade chain Dave & Buster's (PLAY) said during a recent earnings call with analysts that he expects a 6% to 8% increase in food costs for 2021 due to higher chicken, beef and dairy prices.\nWages are rising too, especially for workers in the retail, leisure and hospitality sectors that are returning to jobs as the economy reopens. That adds to inflationary pressures, because some companies will choose to hike prices in order to maintain profits.\nLabor shortages aren't helping.\nThe CEO of online pet retailer Chewy (CHWY) wrote in a letter to shareholders after its latest earnings report that it \"faced labor shortages in our fulfillment centers similar to those being faced by many companies nationwide.\" As a result, Chewy continues \"to invest in higher wages and benefits\" in order to fill job vacancies.\nYet investors — and the Federal Reserve — are shrugging off rising inflation as \"transitory.\" Long-term bond yields are falling, which isn't what normally happens when inflation runs hot. If bond investors believed that price hikes are here to stay, they'd be demanding higher yields.\nAnd the market is pricing in just a 3% chance of a rate hike from the Fed by the end of the year. That's down from a 10% likelihood of higher rates just a month ago. Investors know a rate hike is the central bank's best tool to fight rising inflation, and they'll want to hear more on the subject when Fed chair Jerome Powell speaks at a press conference on Wednesday.\n\"The bond market is still not concerned about inflation. It's buying what the Fed is selling,\" said Randy Warren, CEO of Warren Financial.\nThe problem is that there is a chance the Fed could wait too long to react to inflation.\n\"Is inflation transitory or something more structural?\" asked Steven Oh, global head of credit and fixed income with PineBridge Investments. \"Will the Fed lose control of it down the road and make a policy error and not have the ability to rein it in?\"\nIf the Fed and bond market are wrong about inflation, the central bank may have to wind down its pandemic stimulus much more quickly than it — and investors — would like. That would mean unwinding its big asset purchases and raising rates sooner rather than later.\nOh doesn't think that will be the case. And many others agree. They argue that investors must keep in mind how rapidly the economy has roared back.\nFor that reason, it should not be that big of a surprise that there are dislocations in the job market and supply chain. It will take time for conditions to revert to what they were like in late 2019 and early 2020 before Covid-19.\n\"There are a lot of questions about inflation because you see it in everyday life,\" said Bryan Koslow, principal of Clarus Group, a wealth management firm. \"But we may have seen the peak, especially in terms of wage growth.\"\nEven if that does turn out to be true, the mere fact that investors and consumers are so focused on prices is noteworthy. Inflation has essentially been a non-issue for more than a decade.\n\"The Fed has to take the inflation concerns seriously,\" said Troy Gayeski, co-chief investment officer and senior portfolio manager at SkyBridge Capital. He added that he thinks there is a 20% chance that inflation pressures turn out to be more persistent as opposed to transitory.\n\"The risk of meaningful inflation has been non-existent since 2008. Until now,\" Gayeski said.\nWhat's getting more expensive\nFood and paint aren't the only things getting more expensive. As CNN Business' Moira Ritter points out, the prices of just about everything have gone up lately.\nLumber prices have soared. And the housing market continues to boom. That's led to a big spike in the prices of couches and other household furnishings.\nUsed cars are a lot more expensive too. Chalk that up to people returning to work and a dearth of new cars on dealership lots due to the chip supply shortage that has hurt production of new vehicles.\nPeople are traveling more as well. Airfares have shot up in anticipation of what some are dubbing the red hot vaccine summer.\nUp next\nTuesday: US retail sales; US producer price index; Earnings from Oracle (ORCL) and H & R Block (HRB)\nWednesday: Federal Reserve rate decision; US housing starts and building permits; EIA crude oil inventories; Earnings from Lennar (LEN)\nThursday: US jobless claims; Earnings from Kroger (KR) and Adobe (ADBE)","news_type":1},"isVote":1,"tweetType":1,"viewCount":129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184156698,"gmtCreate":1623691439814,"gmtModify":1704208893610,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"Wait for it to fall further?","listText":"Wait for it to fall further?","text":"Wait for it to fall further?","images":[{"img":"https://static.tigerbbs.com/e88b2a78b56225c37a41a210da3145c8","width":"1440","height":"3973"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/184156698","isVote":1,"tweetType":1,"viewCount":59,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":181482782,"gmtCreate":1623406999046,"gmtModify":1704202752281,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"A good semiconductor stock?","listText":"A good semiconductor stock?","text":"A good semiconductor stock?","images":[{"img":"https://static.tigerbbs.com/045970fcfea7949e1780e849f7dfb9cd","width":"1440","height":"3973"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/181482782","isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576088975090731","authorId":"3576088975090731","name":"pandaroar","avatar":"https://static.tigerbbs.com/6a89ea1d0b07ef871d4ca0666dcc1abd","crmLevel":1,"crmLevelSwitch":0,"idStr":"3576088975090731","authorIdStr":"3576088975090731"},"content":"Have not heard of them. am looking into $Lam Research(LRCX)$","text":"Have not heard of them. am looking into $Lam Research(LRCX)$","html":"Have not heard of them. am looking into $Lam Research(LRCX)$"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":181632001,"gmtCreate":1623388983403,"gmtModify":1704202319913,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"This is really a great write up. Reminding us of what making a&nbsp;good investment is. Growth in the long term!","listText":"This is really a great write up. Reminding us of what making a&nbsp;good investment is. Growth in the long term!","text":"This is really a great write up. Reminding us of what making a good investment is. Growth in the long term!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/181632001","repostId":"2142221222","repostType":4,"repost":{"id":"2142221222","pubTimestamp":1623380520,"share":"https://ttm.financial/m/news/2142221222?lang=&edition=fundamental","pubTime":"2021-06-11 11:02","market":"us","language":"en","title":"Making Money in the Stock Market Is Easy -- If You Avoid This 1 Thing","url":"https://stock-news.laohu8.com/highlight/detail?id=2142221222","media":"Motley Fool","summary":"Get-rich-quick strategies rarely work.","content":"<p>As economist Burton Malkiel, author of the investing classic <i>A</i> <i>Random Walk Down Wall Street</i>, says: \"It is not hard to make money in the market. What is hard to avoid is the alluring temptation to throw your money away on short, get-rich-quick speculative binges.\"</p>\n<p>Investing in the stock market can be as simple or complicated as you make it out to be. You can hand-pick dozens of stocks in your portfolio and aggressively trade every day. You can also hold a single exchange-traded fund (ETF) that mirrors the <b>S&amp;P 500</b> and hang on to that investment forever. You can make money both ways, although your returns and risk will vary significantly.</p>\n<h2>Meme stocks can be speculative binges</h2>\n<p>While you can certainly make a case for meme stocks being good long-term investments, the temptation for many investors these days is to try and make a significant amount of money in a very short time. And in the near term, stocks can be very erratic. A good example of that is <b>Ocugen </b>(NASDAQ:OCGN). The biotech company only recorded revenue last year for work that it was doing to help fellow biotech Advaite develop a COVID-19 testing kit. And at just $42,620, it was minuscule compared to Ocugen's net losses, which totaled $22 million.</p>\n<p>Without much of an established business, investors have been speculating on the success of a COVID-19 vaccine candidate, Covaxin, that Ocugen is co-developing with Indian company Bharat Biotech. But even if it's successful, a vaccine may be too little too late, given that half of Americans have already received at least <a href=\"https://laohu8.com/S/AONE\">one</a> dose. Under its agreement with Bharat, Ocugen will share in 45% of the profits from vaccine sales in the U.S. market; this has recently been expanded to also include Canada (58% of people there have received at least <a href=\"https://laohu8.com/S/AONE.U\">one</a> dose of a vaccine). Covaxin has not been approved in either market, although Ocugen plans to submit a request for emergency use approval to the U.S. Food and Drug Administration as early as this month.</p>\n<p>Despite what could prove to be limited profits to share, investors are buying up the stock as if it will generate billions in revenue; shares of Ocugen are up over 460% this year, while the S&amp;P 500 has risen only 12%. Contrast that with a much safer stock like <b>DexCom</b> (NASDAQ:DXCM) that generates billions in revenue and posts actual profits -- its shares are up by just 5% in the same time.</p>\n<h2>Safe investments may be boring, but they don't put you at significant risk</h2>\n<p>Investing in a medical device company like DexCom -- it's in the business of helping people with diabetes -- is a much safer bet over the long term. Projections from the American Diabetes Association suggest that the disease will be much more prevalent in the future -- the number of diabetes patients in the U.S. in 2000, approximately 11 million, is expected to nearly double to 20 million in 2025. And in 2050 there could be as many as 29 million Americans living with the disease.</p>\n<p>DexCom and its continuous glucose monitoring systems help people stay on top of their glucose levels, and demand for these products will remain strong for the foreseeable future; there isn't much guessing or speculation involved with the business. And while that safety isn't particularly exciting to speculators, investors who are looking to truly make money from the stock market should unquestionably pick DexCom over Ocugen.</p>\n<p>Similarly, you could buy an ETF like the <b><a href=\"https://laohu8.com/S/IYH\">iShares U.S. Healthcare ETF</a></b>, which holds many of the top healthcare stocks you'll find on the markets -- no, Ocugen isn't one. Investing in a broad mix of stocks through an ETF spreads out your risk, ensuring your returns won't be dependent on how one single holding performs. That's what makes investing in ETFs even more of a sure thing: As long as their component stocks do well over the long term, your portfolio's value will likely increase over time.</p>\n<h2>The bottom line</h2>\n<p>Malkiel mentions in his book that some investors like to make \"castles in the air\" and fantasize about what a company will be in the future, and of course, pay significant premiums based on those incredibly optimistic projections. But many times, fantasy doesn't line up with reality.</p>\n<p>Focusing on stocks that are already profitable, with strong businesses and a clear path to growth, puts you in a great position to profit over the long term -- as long as you resist the urge to gamble on other high-risk investments. And if you aren't comfortable picking your own stocks, you can go with ETFs. Just be careful about speculating -- betting big money on the short term can be incredibly dangerous and costly for your portfolio.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Making Money in the Stock Market Is Easy -- If You Avoid This 1 Thing</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\">\nMaking Money in the Stock Market Is Easy -- If You Avoid This 1 Thing\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 11:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/10/making-money-in-the-stock-market-is-easy-if-you-av/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As economist Burton Malkiel, author of the investing classic A Random Walk Down Wall Street, says: \"It is not hard to make money in the market. What is hard to avoid is the alluring temptation to ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/10/making-money-in-the-stock-market-is-easy-if-you-av/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OCGN":"Ocugen","DXCM":"德康医疗"},"source_url":"https://www.fool.com/investing/2021/06/10/making-money-in-the-stock-market-is-easy-if-you-av/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142221222","content_text":"As economist Burton Malkiel, author of the investing classic A Random Walk Down Wall Street, says: \"It is not hard to make money in the market. What is hard to avoid is the alluring temptation to throw your money away on short, get-rich-quick speculative binges.\"\nInvesting in the stock market can be as simple or complicated as you make it out to be. You can hand-pick dozens of stocks in your portfolio and aggressively trade every day. You can also hold a single exchange-traded fund (ETF) that mirrors the S&P 500 and hang on to that investment forever. You can make money both ways, although your returns and risk will vary significantly.\nMeme stocks can be speculative binges\nWhile you can certainly make a case for meme stocks being good long-term investments, the temptation for many investors these days is to try and make a significant amount of money in a very short time. And in the near term, stocks can be very erratic. A good example of that is Ocugen (NASDAQ:OCGN). The biotech company only recorded revenue last year for work that it was doing to help fellow biotech Advaite develop a COVID-19 testing kit. And at just $42,620, it was minuscule compared to Ocugen's net losses, which totaled $22 million.\nWithout much of an established business, investors have been speculating on the success of a COVID-19 vaccine candidate, Covaxin, that Ocugen is co-developing with Indian company Bharat Biotech. But even if it's successful, a vaccine may be too little too late, given that half of Americans have already received at least one dose. Under its agreement with Bharat, Ocugen will share in 45% of the profits from vaccine sales in the U.S. market; this has recently been expanded to also include Canada (58% of people there have received at least one dose of a vaccine). Covaxin has not been approved in either market, although Ocugen plans to submit a request for emergency use approval to the U.S. Food and Drug Administration as early as this month.\nDespite what could prove to be limited profits to share, investors are buying up the stock as if it will generate billions in revenue; shares of Ocugen are up over 460% this year, while the S&P 500 has risen only 12%. Contrast that with a much safer stock like DexCom (NASDAQ:DXCM) that generates billions in revenue and posts actual profits -- its shares are up by just 5% in the same time.\nSafe investments may be boring, but they don't put you at significant risk\nInvesting in a medical device company like DexCom -- it's in the business of helping people with diabetes -- is a much safer bet over the long term. Projections from the American Diabetes Association suggest that the disease will be much more prevalent in the future -- the number of diabetes patients in the U.S. in 2000, approximately 11 million, is expected to nearly double to 20 million in 2025. And in 2050 there could be as many as 29 million Americans living with the disease.\nDexCom and its continuous glucose monitoring systems help people stay on top of their glucose levels, and demand for these products will remain strong for the foreseeable future; there isn't much guessing or speculation involved with the business. And while that safety isn't particularly exciting to speculators, investors who are looking to truly make money from the stock market should unquestionably pick DexCom over Ocugen.\nSimilarly, you could buy an ETF like the iShares U.S. Healthcare ETF, which holds many of the top healthcare stocks you'll find on the markets -- no, Ocugen isn't one. Investing in a broad mix of stocks through an ETF spreads out your risk, ensuring your returns won't be dependent on how one single holding performs. That's what makes investing in ETFs even more of a sure thing: As long as their component stocks do well over the long term, your portfolio's value will likely increase over time.\nThe bottom line\nMalkiel mentions in his book that some investors like to make \"castles in the air\" and fantasize about what a company will be in the future, and of course, pay significant premiums based on those incredibly optimistic projections. But many times, fantasy doesn't line up with reality.\nFocusing on stocks that are already profitable, with strong businesses and a clear path to growth, puts you in a great position to profit over the long term -- as long as you resist the urge to gamble on other high-risk investments. And if you aren't comfortable picking your own stocks, you can go with ETFs. Just be careful about speculating -- betting big money on the short term can be incredibly dangerous and costly for your portfolio.","news_type":1},"isVote":1,"tweetType":1,"viewCount":221,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183462933,"gmtCreate":1623341956922,"gmtModify":1704201398704,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"A highly&nbsp;prospective Big Data company?","listText":"A highly&nbsp;prospective Big Data company?","text":"A highly prospective Big Data company?","images":[{"img":"https://static.tigerbbs.com/76bfd79709789baf5f9aca2569c4eff9","width":"1440","height":"2864"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183462933","isVote":1,"tweetType":1,"viewCount":219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":117693377,"gmtCreate":1623135020599,"gmtModify":1704196787151,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"Apple doing electric car now? Seems like the electric car&nbsp;competition can only get fiercer.","listText":"Apple doing electric car now? Seems like the electric car&nbsp;competition can only get fiercer.","text":"Apple doing electric car now? Seems like the electric car competition can only get fiercer.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/117693377","repostId":"1148066206","repostType":4,"repost":{"id":"1148066206","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623132495,"share":"https://ttm.financial/m/news/1148066206?lang=&edition=fundamental","pubTime":"2021-06-08 14:08","market":"sh","language":"en","title":"Apple in talks with CATL, BYD over battery supplies for its electric car -sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1148066206","media":"Reuters","summary":"SHANGHAI/HONG KONG  - Apple Inc is in early-stage talks with China's CATL and BYD about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said.The discussions are subject to change and it is not clear if agreements with either CATL or BYD will be reached, said the people who declined to be named as the discussions are private.Apple has made building manufacturing facilities in the United States a condition for potential battery suppliers, said two","content":"<p>SHANGHAI/HONG KONG (Reuters) - Apple Inc is in early-stage talks with China's CATL and BYD about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said.</p><p>The discussions are subject to change and it is not clear if agreements with either CATL or BYD will be reached, said the people who declined to be named as the discussions are private.</p><p>Apple has made building manufacturing facilities in the United States a condition for potential battery suppliers, said two of the sources.</p><p>CATL, which supplies major car makers including Tesla Inc, is reluctant to build a U.S. factory due to political tensions between Washington and Beijing as well as cost concerns, the two people said.</p><p>It was not immediately clear if Apple is also talking to other battery makers.</p><p>Apple, which has yet to make a public announcement about its car plans, declined to comment. CATL, the world's biggest automotive battery maker, and BYD, the world's No. 4, also declined to comment.</p><p>The U.S. firm is in favor of using lithium iron phosphate batteries that are cheaper to produce because they use iron instead of nickel and cobalt which are more expensive, the four people said.</p><p>Apple has been working on self-driving technology and has targeted 2024 for the production of a passenger vehicle, Reuters reported in December.</p><p>People familiar with the matter have previously said Apple's planned EV could include its own breakthrough battery technology. It was not immediately clear if the discussions with CATL and BYD involved Apple's own technology or designs.</p><p>The discussions come at a time when the U.S. government is looking to attract more EV manufacturing. U.S. President Joe Biden's proposed $1.7 trillion infrastructure plan includes a $174 billion budget to boost the domestic EV market with tax credits and grants for battery manufacturers, among other incentives.</p><p>Many battery makers are ramping up production to meet soaring worldwide demand as car makers accelerate their shift to electric vehicles to comply with tougher emission rules aimed at tackling global warming.</p><p>Chinese battery makers are expected to grow at a faster pace than their foreign peers thanks to further expansion of the world's biggest EV market, SNE Research said in a June report.</p><p>Reuters reported last week that CATL is planning a major new automotive battery plant in Shanghai, continuing a blistering pace of expansion that will cement its lead as the world's No.1 supplier. The factory would near Tesla's China manufacturing operations.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple in talks with CATL, BYD over battery supplies for its electric car -sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple in talks with CATL, BYD over battery supplies for its electric car -sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-08 14:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SHANGHAI/HONG KONG (Reuters) - Apple Inc is in early-stage talks with China's CATL and BYD about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said.</p><p>The discussions are subject to change and it is not clear if agreements with either CATL or BYD will be reached, said the people who declined to be named as the discussions are private.</p><p>Apple has made building manufacturing facilities in the United States a condition for potential battery suppliers, said two of the sources.</p><p>CATL, which supplies major car makers including Tesla Inc, is reluctant to build a U.S. factory due to political tensions between Washington and Beijing as well as cost concerns, the two people said.</p><p>It was not immediately clear if Apple is also talking to other battery makers.</p><p>Apple, which has yet to make a public announcement about its car plans, declined to comment. CATL, the world's biggest automotive battery maker, and BYD, the world's No. 4, also declined to comment.</p><p>The U.S. firm is in favor of using lithium iron phosphate batteries that are cheaper to produce because they use iron instead of nickel and cobalt which are more expensive, the four people said.</p><p>Apple has been working on self-driving technology and has targeted 2024 for the production of a passenger vehicle, Reuters reported in December.</p><p>People familiar with the matter have previously said Apple's planned EV could include its own breakthrough battery technology. It was not immediately clear if the discussions with CATL and BYD involved Apple's own technology or designs.</p><p>The discussions come at a time when the U.S. government is looking to attract more EV manufacturing. U.S. President Joe Biden's proposed $1.7 trillion infrastructure plan includes a $174 billion budget to boost the domestic EV market with tax credits and grants for battery manufacturers, among other incentives.</p><p>Many battery makers are ramping up production to meet soaring worldwide demand as car makers accelerate their shift to electric vehicles to comply with tougher emission rules aimed at tackling global warming.</p><p>Chinese battery makers are expected to grow at a faster pace than their foreign peers thanks to further expansion of the world's biggest EV market, SNE Research said in a June report.</p><p>Reuters reported last week that CATL is planning a major new automotive battery plant in Shanghai, continuing a blistering pace of expansion that will cement its lead as the world's No.1 supplier. The factory would near Tesla's China manufacturing operations.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"300750":"宁德时代","002594":"比亚迪","AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148066206","content_text":"SHANGHAI/HONG KONG (Reuters) - Apple Inc is in early-stage talks with China's CATL and BYD about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said.The discussions are subject to change and it is not clear if agreements with either CATL or BYD will be reached, said the people who declined to be named as the discussions are private.Apple has made building manufacturing facilities in the United States a condition for potential battery suppliers, said two of the sources.CATL, which supplies major car makers including Tesla Inc, is reluctant to build a U.S. factory due to political tensions between Washington and Beijing as well as cost concerns, the two people said.It was not immediately clear if Apple is also talking to other battery makers.Apple, which has yet to make a public announcement about its car plans, declined to comment. CATL, the world's biggest automotive battery maker, and BYD, the world's No. 4, also declined to comment.The U.S. firm is in favor of using lithium iron phosphate batteries that are cheaper to produce because they use iron instead of nickel and cobalt which are more expensive, the four people said.Apple has been working on self-driving technology and has targeted 2024 for the production of a passenger vehicle, Reuters reported in December.People familiar with the matter have previously said Apple's planned EV could include its own breakthrough battery technology. It was not immediately clear if the discussions with CATL and BYD involved Apple's own technology or designs.The discussions come at a time when the U.S. government is looking to attract more EV manufacturing. U.S. President Joe Biden's proposed $1.7 trillion infrastructure plan includes a $174 billion budget to boost the domestic EV market with tax credits and grants for battery manufacturers, among other incentives.Many battery makers are ramping up production to meet soaring worldwide demand as car makers accelerate their shift to electric vehicles to comply with tougher emission rules aimed at tackling global warming.Chinese battery makers are expected to grow at a faster pace than their foreign peers thanks to further expansion of the world's biggest EV market, SNE Research said in a June report.Reuters reported last week that CATL is planning a major new automotive battery plant in Shanghai, continuing a blistering pace of expansion that will cement its lead as the world's No.1 supplier. The factory would near Tesla's China manufacturing operations.","news_type":1},"isVote":1,"tweetType":1,"viewCount":273,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117690017,"gmtCreate":1623134909639,"gmtModify":1704196783855,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"How high can Apple grow?","listText":"How high can Apple grow?","text":"How high can Apple grow?","images":[{"img":"https://static.tigerbbs.com/ddb2d5818f3718057ee4e49ffee37013","width":"1080","height":"3351"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/117690017","isVote":1,"tweetType":1,"viewCount":301,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":115191817,"gmtCreate":1622956185939,"gmtModify":1704193780709,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"For the future!","listText":"For the future!","text":"For the future!","images":[{"img":"https://static.tigerbbs.com/648b236e066ea66a90f225f31440f215","width":"1440","height":"4105"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/115191817","isVote":1,"tweetType":1,"viewCount":255,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":115199985,"gmtCreate":1622956058447,"gmtModify":1704193777738,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"I'll go for BeyondMeat. Their business can only grow with increasing&nbsp;need to feed the&nbsp;world's population with foods that are produced&nbsp;through&nbsp;carbon neutral/green solutions. But still, the acceptannce of&nbsp;people to eat food that are grown in lab&nbsp;is a big challenge for them to overcome.","listText":"I'll go for BeyondMeat. Their business can only grow with increasing&nbsp;need to feed the&nbsp;world's population with foods that are produced&nbsp;through&nbsp;carbon neutral/green solutions. But still, the acceptannce of&nbsp;people to eat food that are grown in lab&nbsp;is a big challenge for them to overcome.","text":"I'll go for BeyondMeat. Their business can only grow with increasing need to feed the world's population with foods that are produced through carbon neutral/green solutions. But still, the acceptannce of people to eat food that are grown in lab is a big challenge for them to overcome.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/115199985","repostId":"1198437149","repostType":4,"repost":{"id":"1198437149","pubTimestamp":1622946795,"share":"https://ttm.financial/m/news/1198437149?lang=&edition=fundamental","pubTime":"2021-06-06 10:33","market":"us","language":"en","title":"7 Stocks That Could Bounce Back as Inflation Worries Subside","url":"https://stock-news.laohu8.com/highlight/detail?id=1198437149","media":"InvestorPlace","summary":"If fears about inflation and interest rates are overblown, these stocks could rebound toward prior h","content":"<p>If fears about inflation and interest rates are overblown, these stocks could rebound toward prior highs</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b55e11963dc8f452076bc83cdae22253\" tg-width=\"1024\" tg-height=\"576\"><span>Source: Shutterstock</span></p>\n<p>Growth stocks had a rocky time in May, when concerns about inflation resulted in a temporary sell-off. Why did inflation chatter cause such a reaction? It’s not inflation per se that’s the worry. The possible raising of interest rates to combat inflation is the real concern.</p>\n<p>For now, the Federal Reserve is OK&nbsp;keeping rates at current levels. But, that may not be the case in 2022. So, why are possibly rising interest rates a concern for growth stocks? Simple: valuation. It’s easier to justify frothy multiples for growth stocks in a near-zero interest rate environment. Given that growth stocks are&nbsp;priced based on projected earnings down the road, rising rates further discount future cash flows, which affects present value.</p>\n<p>Yet, following the brief pullback, these fears started to cool. Admittedly, it’s too early to tell whether investors are correctly assessing the situation. As Lule Demmissie, president of Ally Invest, said in a statement provided to<i>InvestorPlace</i>, we won’t know if the inflation we’ve seen lately is “truly transitory until the end of summer.”</p>\n<p>That is, the jury’s still out whether the inflation we’ve seen in recent months is due to the U.S. economy entering recovery mode with the novel coronavirus pandemic. If inflation cools more, as things get back to the “old normal,” we may be in the clear. This could pave the way for growth stocks, hard hit as of late, rebounding, as investors rotate back into them.</p>\n<p>So, which growth stocks could rebound, if inflation worries further dissipate? These seven, still down from their highs, may be ones set to bounce back:</p>\n<ul>\n <li><b>Beyond Meat</b>(NASDAQ:<b><u>BYND</u></b>)</li>\n <li><b>DocuSign</b>(NASDAQ:<b><u>DOCU</u></b>)</li>\n <li><b>Opendoor</b>(NASDAQ:<b><u>OPEN</u></b>)</li>\n <li><b>Penn National Gaming</b>(NASDAQ:<b><u>PENN</u></b>)</li>\n <li><b>Shopify</b>(NYSE:<b><u>SHOP</u></b>)</li>\n <li><b>Skillz</b>(NYSE:<b><u>SKLZ</u></b>)</li>\n <li><b>Teladoc Health</b>(NYSE:<b><u>TDOC</u></b>)</li>\n</ul>\n<p><b>Beyond Meat (BYND)</b></p>\n<p>Sure, with&nbsp;<b>Reddit</b>&nbsp;traders squeezing it, heavily shorted BYND stock made up for all of its May losses. After falling from around $135 per share, to briefly under $100 per share, it’s bounced back above where it was at the start of last month.</p>\n<p>But, this purveyor of plant-based “meat,” which has its share of skeptics, remains down substantially from the prices it fetched for back in February (around $175 per share). Now, not all of these losses are due to concerns about rising inflation and interest rates.</p>\n<p>Underwhelming sales numbers&nbsp;over the past few quarters&nbsp;cast doubt whether this growth story will live up to expectations. Analysts still estimate that revenue will increase&nbsp;more than 50% next year, as the shift to plant-based meat alternatives continues amid environmental and health concerns. If results start to meet (or even beat) projections, we could see more than just interest from meme stock speculators again in this once-hot stock.</p>\n<p>Yet, it may take more than blockbuster results to keep shares on an upward trajectory. It may take the lifting of fears that interest rates are set to rise sharply, before the markets again feel fine with giving this still-richly priced stock (Beyond Meat trades for around 10x estimated 2022 sales) an even higher forward multiple.</p>\n<p><b>DocuSign (DOCU)</b></p>\n<p>DocuSign is just one of many fast-growing tech names that crushed it stock price-wise last year and going into this year. Between pandemic tailwinds (like the shift to remote work), and near-zero interest rates, investors bid up the e-signature solutions provider to a valuation that gives it a forward price-to-earnings (P/E) ratio in the triple digits.</p>\n<p>Since the start of the rotation out of growth stocks, DOCU stock dropped more than 30% off its highs. Yet, shares aren’t exactly cheap, as they still sport a triple-digit forward P/E ratio (154.3x). Rising interest rates could result in further contraction. Even as earnings are expected to grow at a 40%+ annualized clip over the next two years.</p>\n<p>Right now, the 2020 top performer is holding steady at around $200 per share. If interest rates rise, we could see another dramatic drop. But, if inflation and interest rate fears cool, and it becomes clear the Fed won’t sharply shift from&nbsp;dovish&nbsp;to&nbsp;hawkish&nbsp;fiscal policy, coupled with&nbsp;continued better-than-expected results, we could see shares make a move back toward their past high water mark (around $290 per share).</p>\n<p>Some may be concerned that its underlying performance, boosted by last year’s stay-at-home environment may start to wane as we return to the “old normal.” But, with a more remote office environment&nbsp;likely here to stay, growth remains on the menu for Docusign.</p>\n<p><b>Opendoor (OPEN)</b></p>\n<p>Opendoor was one of several Chamath Palihapitiya-backed SPACs (special purpose acquisition companies) hit hard by the&nbsp;SPAC wipeout. Many factors caused the beating down of blank-check stocks over the past few months. But, the&nbsp;initial inflation fears&nbsp;experienced back in February certainly played a role.</p>\n<p>Rising inflation may mean rising interest rates. And, rising interest rates impact stocks priced based on future rather than current results. And, that is what’s happened here with shares in this&nbsp;residential real estate i-buyer. Of course, the specter of rising rates could affect OPEN stock in more ways than just a contraction of its premium valuation.</p>\n<p>Supply outpacing demand is a factor in today’s&nbsp;manic housing market. But, rock bottom interest rates played a role as well. A hot market for residential homes helped Opendoor’s business, which is basically house-flipping on a massive scale. A sharp correction in this market, brought upon by a rapid rise in rates, could change this. And, not in a good way.</p>\n<p>Yet, it’s not set in stone this is how things will play out in residential real estate. As<i>InvestorPlace’s</i>Alex Sirois wrote May 27,shares may continue to trade sideways, as investors assess where housing is headed next. But, if interest rates end up not surging in the coming year, this market could see a soft landing, instead of a hard crash. That may not necessarily help boost OPEN stock (trading for around $16 per share). However, it could keep shares steady for investors buying it as a long-term “future of housing” play.</p>\n<p><b>Penn National Gaming (PENN)</b></p>\n<p>Its main business may still be brick-and-mortar casinos. But, what’s made Penn National a top performing stock since March 2020 has been its exposure to the i-gaming and online gambling megatrend.</p>\n<p>With its&nbsp;investment in&nbsp;<b>Barstool Sports</b>, and the launch of a sportsbook utilizing this brand name, investors have bet big that this company, with the customer base from its legacy business, coupled with the fan base of David Portnoy’s Barstool franchise, will become a dominant force in this fast-growing industry.</p>\n<p>However, over the past few months, shares pulled back massively from as high as $142 per share, to around $80 per share. What’s behind this? Mainly, the cool down in&nbsp;retail investor mania over this stock. The market realizes it’s going to take time for Penn National’s i-gaming unit to turn into a cash cow.</p>\n<p>So, what does this have to do with rising inflation/rising interest rates? The reassessment of growth stock valuation also affected the price of PENN stock. It likely won’t be the primary driver of a stock price rebound. But, if it becomes apparent that historically low interest rates are here to stay, investors may continue to assign this story stock a rich valuation, and could become willing once again to bid it back up to triple-digit price levels.</p>\n<p><b>Shopify (SHOP)</b></p>\n<p>It’s an understatement to say pandemic-related tailwinds for e-commerce changed the game for Shopify shares. The stock soared more than four-fold throughout the pandemic, as “stay at home” became “shop at home,” which boosted demand for this SaaS name’s e-commerce platform.</p>\n<p>But, concerns growth would slide post-pandemic, coupled with the specter of rising rates affecting valuations, helped to push down the stock from its highs (nearly $1,500 per share), down to around $1,250 per share as of this writing.</p>\n<p>Growth may be slowing down. However, even without the benefit of last year’s unique circumstances, the company still expects&nbsp;revenue to grow rapidly in 2021. Yet, even as it remains a growth story, this alone won’t save it from falling further. Trading for 284.7x forward earnings, any sort of valuation contraction caused by rising interest rates may result in another dramatic decline for shares.</p>\n<p>That being said, the fears that have impacted fast-growing tech names could continue to subside. This may bring many investors sitting on the sidelines back into SHOP stock. But, keep in mind, that, after its insane run-up last year, we may see neither a rebound or a sell-off. Instead, shares could hold steady, as markets let shares grow into their valuation.</p>\n<p><b>Skillz (SKLZ)</b></p>\n<p>It’s a stretch to blame all of the decline of SKLZ stock (more than 60% off its highs) on interest rate concerns. The mobile gaming platform,a favorite of Cathie Wood’s&nbsp;<b>ARK Invest</b>, has been hit hard by several factors.</p>\n<p>For one, the cycling out of growth stocks. Also,reports from vocal short-sellers&nbsp;casting doubt on its growth potential. To top it all off, the fast shift in sentiment for SPAC stocks such as this one. Fears of rising rates may not have been a primary driver of its share price decline. Yet, the dissipating of this concern could be something that helps the stock make an epic comeback.</p>\n<p>How so? If the overarching inflation/interest rate worries dissipate, it may encourage investors to dive back into not only large-cap growth names, but smaller growth names like this one. With a&nbsp;large percentage of its shares sold short, renewed interest in it could produce a squeeze.</p>\n<p>Granted, Skillz shares need more than just an overall cycling back into growth stocks. Company-specific factors will play a role as well. But, if the company, in upcoming quarterly results, further proves that the bears are wrongly doubting its growth, we could see fortunes quickly change for this mobile gaming play.</p>\n<p><b>Teladoc Health (TDOC)</b></p>\n<p>Rising interest rate fears aren’t the only reason why TDOC stock sold off massively (more than 50%) since February. As&nbsp;<i>InvestorPlace’s</i>&nbsp;Joel Baglole wrote May 15, concerns its&nbsp;growth will slow down post-pandemic&nbsp;was a major factor in its continued declines.</p>\n<p>Demand for telemedicine may continue to be strong, even as we are no longer operating in last year’s environment. The company’s projected growth will likely stay well in the double-digit percentage range over the next few years. But, still trading at a premium forward price-to-sales ratio (around 9.1x, based on 2022 projections), we could see more contraction, in the event rates rise, and investors reassess valuations.</p>\n<p>So, with much pointing to further losses, why consider Teladoc today? Again, it’s not a given the Fed adopts a hawkish stance in the next year. If rates stay as they are, just like with the other names listed here, investors will feel more confident diving back into richly priced growth names.</p>\n<p>Also, shares could see a boost if investors betting against this moderately-shorted&nbsp; (12.9% of its float is sold short)&nbsp; stock cover their positions. A full rebound back to $300 per share may be out of reach. But, with its still solid long-term growth prospects, shares may have room to continue trending upward, as they’ve done in the weeks following last month’s sell-off.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>7 Stocks That Could Bounce Back as Inflation Worries Subside</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\">\n7 Stocks That Could Bounce Back as Inflation Worries Subside\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-06 10:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/06/7-stocks-bounce-back-inflation-worries-subside/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If fears about inflation and interest rates are overblown, these stocks could rebound toward prior highs\nSource: Shutterstock\nGrowth stocks had a rocky time in May, when concerns about inflation ...</p>\n\n<a href=\"https://investorplace.com/2021/06/7-stocks-bounce-back-inflation-worries-subside/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DOCU":"Docusign","SHOP":"Shopify Inc","TDOC":"Teladoc Health Inc.","SKLZ":"Skillz Inc","BYND":"Beyond Meat, Inc.","OPEN":"Opendoor Technologies Inc","PENN":"佩恩国民博彩"},"source_url":"https://investorplace.com/2021/06/7-stocks-bounce-back-inflation-worries-subside/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198437149","content_text":"If fears about inflation and interest rates are overblown, these stocks could rebound toward prior highs\nSource: Shutterstock\nGrowth stocks had a rocky time in May, when concerns about inflation resulted in a temporary sell-off. Why did inflation chatter cause such a reaction? It’s not inflation per se that’s the worry. The possible raising of interest rates to combat inflation is the real concern.\nFor now, the Federal Reserve is OK keeping rates at current levels. But, that may not be the case in 2022. So, why are possibly rising interest rates a concern for growth stocks? Simple: valuation. It’s easier to justify frothy multiples for growth stocks in a near-zero interest rate environment. Given that growth stocks are priced based on projected earnings down the road, rising rates further discount future cash flows, which affects present value.\nYet, following the brief pullback, these fears started to cool. Admittedly, it’s too early to tell whether investors are correctly assessing the situation. As Lule Demmissie, president of Ally Invest, said in a statement provided toInvestorPlace, we won’t know if the inflation we’ve seen lately is “truly transitory until the end of summer.”\nThat is, the jury’s still out whether the inflation we’ve seen in recent months is due to the U.S. economy entering recovery mode with the novel coronavirus pandemic. If inflation cools more, as things get back to the “old normal,” we may be in the clear. This could pave the way for growth stocks, hard hit as of late, rebounding, as investors rotate back into them.\nSo, which growth stocks could rebound, if inflation worries further dissipate? These seven, still down from their highs, may be ones set to bounce back:\n\nBeyond Meat(NASDAQ:BYND)\nDocuSign(NASDAQ:DOCU)\nOpendoor(NASDAQ:OPEN)\nPenn National Gaming(NASDAQ:PENN)\nShopify(NYSE:SHOP)\nSkillz(NYSE:SKLZ)\nTeladoc Health(NYSE:TDOC)\n\nBeyond Meat (BYND)\nSure, with Reddit traders squeezing it, heavily shorted BYND stock made up for all of its May losses. After falling from around $135 per share, to briefly under $100 per share, it’s bounced back above where it was at the start of last month.\nBut, this purveyor of plant-based “meat,” which has its share of skeptics, remains down substantially from the prices it fetched for back in February (around $175 per share). Now, not all of these losses are due to concerns about rising inflation and interest rates.\nUnderwhelming sales numbers over the past few quarters cast doubt whether this growth story will live up to expectations. Analysts still estimate that revenue will increase more than 50% next year, as the shift to plant-based meat alternatives continues amid environmental and health concerns. If results start to meet (or even beat) projections, we could see more than just interest from meme stock speculators again in this once-hot stock.\nYet, it may take more than blockbuster results to keep shares on an upward trajectory. It may take the lifting of fears that interest rates are set to rise sharply, before the markets again feel fine with giving this still-richly priced stock (Beyond Meat trades for around 10x estimated 2022 sales) an even higher forward multiple.\nDocuSign (DOCU)\nDocuSign is just one of many fast-growing tech names that crushed it stock price-wise last year and going into this year. Between pandemic tailwinds (like the shift to remote work), and near-zero interest rates, investors bid up the e-signature solutions provider to a valuation that gives it a forward price-to-earnings (P/E) ratio in the triple digits.\nSince the start of the rotation out of growth stocks, DOCU stock dropped more than 30% off its highs. Yet, shares aren’t exactly cheap, as they still sport a triple-digit forward P/E ratio (154.3x). Rising interest rates could result in further contraction. Even as earnings are expected to grow at a 40%+ annualized clip over the next two years.\nRight now, the 2020 top performer is holding steady at around $200 per share. If interest rates rise, we could see another dramatic drop. But, if inflation and interest rate fears cool, and it becomes clear the Fed won’t sharply shift from dovish to hawkish fiscal policy, coupled with continued better-than-expected results, we could see shares make a move back toward their past high water mark (around $290 per share).\nSome may be concerned that its underlying performance, boosted by last year’s stay-at-home environment may start to wane as we return to the “old normal.” But, with a more remote office environment likely here to stay, growth remains on the menu for Docusign.\nOpendoor (OPEN)\nOpendoor was one of several Chamath Palihapitiya-backed SPACs (special purpose acquisition companies) hit hard by the SPAC wipeout. Many factors caused the beating down of blank-check stocks over the past few months. But, the initial inflation fears experienced back in February certainly played a role.\nRising inflation may mean rising interest rates. And, rising interest rates impact stocks priced based on future rather than current results. And, that is what’s happened here with shares in this residential real estate i-buyer. Of course, the specter of rising rates could affect OPEN stock in more ways than just a contraction of its premium valuation.\nSupply outpacing demand is a factor in today’s manic housing market. But, rock bottom interest rates played a role as well. A hot market for residential homes helped Opendoor’s business, which is basically house-flipping on a massive scale. A sharp correction in this market, brought upon by a rapid rise in rates, could change this. And, not in a good way.\nYet, it’s not set in stone this is how things will play out in residential real estate. AsInvestorPlace’sAlex Sirois wrote May 27,shares may continue to trade sideways, as investors assess where housing is headed next. But, if interest rates end up not surging in the coming year, this market could see a soft landing, instead of a hard crash. That may not necessarily help boost OPEN stock (trading for around $16 per share). However, it could keep shares steady for investors buying it as a long-term “future of housing” play.\nPenn National Gaming (PENN)\nIts main business may still be brick-and-mortar casinos. But, what’s made Penn National a top performing stock since March 2020 has been its exposure to the i-gaming and online gambling megatrend.\nWith its investment in Barstool Sports, and the launch of a sportsbook utilizing this brand name, investors have bet big that this company, with the customer base from its legacy business, coupled with the fan base of David Portnoy’s Barstool franchise, will become a dominant force in this fast-growing industry.\nHowever, over the past few months, shares pulled back massively from as high as $142 per share, to around $80 per share. What’s behind this? Mainly, the cool down in retail investor mania over this stock. The market realizes it’s going to take time for Penn National’s i-gaming unit to turn into a cash cow.\nSo, what does this have to do with rising inflation/rising interest rates? The reassessment of growth stock valuation also affected the price of PENN stock. It likely won’t be the primary driver of a stock price rebound. But, if it becomes apparent that historically low interest rates are here to stay, investors may continue to assign this story stock a rich valuation, and could become willing once again to bid it back up to triple-digit price levels.\nShopify (SHOP)\nIt’s an understatement to say pandemic-related tailwinds for e-commerce changed the game for Shopify shares. The stock soared more than four-fold throughout the pandemic, as “stay at home” became “shop at home,” which boosted demand for this SaaS name’s e-commerce platform.\nBut, concerns growth would slide post-pandemic, coupled with the specter of rising rates affecting valuations, helped to push down the stock from its highs (nearly $1,500 per share), down to around $1,250 per share as of this writing.\nGrowth may be slowing down. However, even without the benefit of last year’s unique circumstances, the company still expects revenue to grow rapidly in 2021. Yet, even as it remains a growth story, this alone won’t save it from falling further. Trading for 284.7x forward earnings, any sort of valuation contraction caused by rising interest rates may result in another dramatic decline for shares.\nThat being said, the fears that have impacted fast-growing tech names could continue to subside. This may bring many investors sitting on the sidelines back into SHOP stock. But, keep in mind, that, after its insane run-up last year, we may see neither a rebound or a sell-off. Instead, shares could hold steady, as markets let shares grow into their valuation.\nSkillz (SKLZ)\nIt’s a stretch to blame all of the decline of SKLZ stock (more than 60% off its highs) on interest rate concerns. The mobile gaming platform,a favorite of Cathie Wood’s ARK Invest, has been hit hard by several factors.\nFor one, the cycling out of growth stocks. Also,reports from vocal short-sellers casting doubt on its growth potential. To top it all off, the fast shift in sentiment for SPAC stocks such as this one. Fears of rising rates may not have been a primary driver of its share price decline. Yet, the dissipating of this concern could be something that helps the stock make an epic comeback.\nHow so? If the overarching inflation/interest rate worries dissipate, it may encourage investors to dive back into not only large-cap growth names, but smaller growth names like this one. With a large percentage of its shares sold short, renewed interest in it could produce a squeeze.\nGranted, Skillz shares need more than just an overall cycling back into growth stocks. Company-specific factors will play a role as well. But, if the company, in upcoming quarterly results, further proves that the bears are wrongly doubting its growth, we could see fortunes quickly change for this mobile gaming play.\nTeladoc Health (TDOC)\nRising interest rate fears aren’t the only reason why TDOC stock sold off massively (more than 50%) since February. As InvestorPlace’s Joel Baglole wrote May 15, concerns its growth will slow down post-pandemic was a major factor in its continued declines.\nDemand for telemedicine may continue to be strong, even as we are no longer operating in last year’s environment. The company’s projected growth will likely stay well in the double-digit percentage range over the next few years. But, still trading at a premium forward price-to-sales ratio (around 9.1x, based on 2022 projections), we could see more contraction, in the event rates rise, and investors reassess valuations.\nSo, with much pointing to further losses, why consider Teladoc today? Again, it’s not a given the Fed adopts a hawkish stance in the next year. If rates stay as they are, just like with the other names listed here, investors will feel more confident diving back into richly priced growth names.\nAlso, shares could see a boost if investors betting against this moderately-shorted  (12.9% of its float is sold short)  stock cover their positions. A full rebound back to $300 per share may be out of reach. But, with its still solid long-term growth prospects, shares may have room to continue trending upward, as they’ve done in the weeks following last month’s sell-off.","news_type":1},"isVote":1,"tweetType":1,"viewCount":419,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3582028884093480","authorId":"3582028884093480","name":"慢的老人","avatar":"https://static.tigerbbs.com/d8809bb976396889eb133162af0901b8","crmLevel":3,"crmLevelSwitch":1,"idStr":"3582028884093480","authorIdStr":"3582028884093480"},"content":"I think plant-based protein producers should stop using the term \"meat\" in their products. It is false advertising","text":"I think plant-based protein producers should stop using the term \"meat\" in their products. It is false advertising","html":"I think plant-based protein producers should stop using the term \"meat\" in their products. It is false advertising"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115372763,"gmtCreate":1622955038452,"gmtModify":1704193758953,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"Good read. A good stock&nbsp;for future growth or have it reached its full potential of growth? Let's find out!","listText":"Good read. A good stock&nbsp;for future growth or have it reached its full potential of growth? Let's find out!","text":"Good read. A good stock for future growth or have it reached its full potential of growth? Let's find out!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/115372763","repostId":"1102972710","repostType":4,"repost":{"id":"1102972710","pubTimestamp":1622948427,"share":"https://ttm.financial/m/news/1102972710?lang=&edition=fundamental","pubTime":"2021-06-06 11:00","market":"us","language":"en","title":"Micron: A Strong Chip Shortage Play","url":"https://stock-news.laohu8.com/highlight/detail?id=1102972710","media":"seekingalpha","summary":"Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favo","content":"<p><b>Summary</b></p>\n<ul>\n <li>Micron's four business units have sizable TAMs.</li>\n <li>Both the DRAM and NAND industries have favourable outlooks.</li>\n <li>Industry tailwinds point to pricing power and expanding margins.</li>\n <li>The strong financials of the company will serve them well in the current high-volatility environment.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b87dd8114b0aa47fdcdd26e5dc40d5ee\" tg-width=\"1536\" tg-height=\"896\"><span>Photo by vchal/iStock via Getty Images</span></p>\n<p>Micron Technology(NASDAQ:MU)&nbsp;is a severely undervalued semiconductor play with significant upside based upon conservative estimates, strong fundamentals, and favorable industry tailwinds. The current semiconductor shortage worldwide has put pressure upon semiconductor companies as they rush to ramp up production after an intentional slowdown and supply disruption amidst the pandemic. Forecasts and estimates regarding how fast demand was to bounce back came in entirely too conservative, and as a result the unprecedented surge in demand with a lagging supply has buyers of semiconductor chips such as&nbsp;auto manufacturers forced to slash production.</p>\n<p>Semiconductors of all kinds are the fundamental basic unit and brains of products ranging from audio devices, security cameras, automobiles, to even smart fridges. When it comes to a global shortage in a time as such, companies that are 'fabless' lose out and those that have their own manufacturing facilities and plants gain the upper hand as flexibility and production output remains in their ballpark. Today we examine how Micron is one of them, and despite its remarkable run up 54% since the start of 2020, there is considerable upside remaining given the size of the different total addressable markets(NYSE:TAM)that Micron is targeting.</p>\n<p><b>Business Model</b></p>\n<p>Micron is one of the top 3 memory chip makers in the world with a product portfolio featuring DRAM, NAND, NOR, and even&nbsp;3D XPoint SSDs that they have since ceased production.Management guided that the decision comes amidst the findings that:</p>\n<blockquote>\n There was insufficient market validation to justify the ongoing investments required to commercialize 3D XPoint at scale.\n</blockquote>\n<p>As promising as the 3D XPoint developments that Micron had that first started as a joint partnership with Intel in 2015 before parting ways in 2018 was, the impact moving forward will be minimal given that revenue from selling DRAM and NAND chips still accounts for the majority of Micron's Revenue, and 3D XPoint SSDs had yet to scale up.</p>\n<p><b>DRAM and NAND</b></p>\n<p>DRAM (Dynamic Random-Access Memory) devices are essentially a type of low latency memory product commonly used in PCs, servers, smartphones, and automobiles.</p>\n<p>It is 'volatile' as content will be lost if the power supply is turned off. As such, DRAM devices store information that needs to be quickly accessed by the CPU / GPU. CPUs provide the raw computational power needed to run software programs and RAMs store the data and software code needed by the CPU to run in real-time.</p>\n<p>The DRAM market operates as an oligopolistic one, with the 3 biggest competitors, Samsung (OTC:SSNLF), SK Hynix (OTC:HXSCL), and Micron dominating 94.1% of the market share. Samsung leads with 42% as of the latest fiscal quarter, SK Hynix second with 29% and Micron close behind with&nbsp;23.1% of the market share.Amongst the 3, Micron is the only one operating in the U.S with Samsung &amp; SK Hynix based in South Korea. This geographical advantage has come to serve Micron well in the automobile memory market as I will proceed to prove later, although it can be argued that this very same factor has placed the 2 Korean companies in a better position to service the&nbsp;largest consumer of DRAMs&nbsp;by region - China. In 2019, China accounted for 55.42% of global DRAM consumption by region.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/17c2b471dd41b837a1ad129c180fa0b9\" tg-width=\"640\" tg-height=\"368\"><span>Source: Statista Global DRAM Market Share</span></p>\n<p>As of the latest fiscal quarter 21, DRAM sales represented&nbsp;71.26%&nbsp;of the company's total revenue. Although there may be the risk of concentration with a substantial portion of sales coming from 1 of the 3 main product offerings, DRAM chips have always represented the majority of the firm's sales. With favorable industry tailwinds, positive outlook regarding overall DRAM market dynamics, pricing power, and very likely higher margins as a result, this concentration of sales will likely also prove to be more of a boon than a bane for Micron in the current economic environment that we are in today.</p>\n<p>Historically, Micron has also retained a firm hold of their share in the DRAM market and has made an effort to gradually increase it overtime since CY 2016. The inherently high BTE and economies of scale in an oligopolistic market coupled with necessary high CAPEX spending serves to grant the dominant 3 a firm hold in the DRAM market for years to come. The chart below shows Micron holding a steady 20 - 23% market share since CY 15, testament to their persistent presence as a top 3 market player.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/371a886343d14f2ba3407afa02804db5\" tg-width=\"640\" tg-height=\"526\"><span>Source: Author's Compilations</span></p>\n<p>TAM: As DRAM products represent a majority of Micron's sales, it is imperative that the market they are operating in has a bright future and is on track to grow.According to MarketWatch,the global DRAM market revenue was valued at $62.1 BN in 2020 and is expected to grow to $91.1 BN by the end of 2026, representing a CAGR of 8%. With a sizable TAM in their leading product offering, the company should reap in the rewards of a growing market in terms of future revenue. As DRAM products also bring in higher margins at the end of the day based on CNBU and MBU (explained below) Operating Margins, this acts as a further catalyst for Micron.</p>\n<p>Micron also offers NAND products and though it represents a smaller chunk of Total Revenue relative to DRAMs, it still accounted for a meaningful&nbsp;26.46%&nbsp;as of Q2 FY 21. NAND chips are used for the storage of information. Slower than DRAMs for accessing memory quickly, they are 'non-volatile' as the content can still be accessed should the power supply be cut off. These are commonly found in hard drives, smartphones and data centers.</p>\n<p>Likewise, the dominant 3 in the DRAM market also represent a significant portion of the NAND market albeit having more competitors. In the NAND flash market, Micron ranks 5th worldwide, behind the same industry leader - Samsung. As of Q1 21, Samsung dominated with 33.5% market share, Kioxia 18.7%, Western Digital (WDC) 14.4%, SK Hynix 12.3%, and Micron with 11.1%. However, in a market very similar to that of DRAM, acquisitions by the big power players can be expected to further solidify their presence and chew out competitors. As it is, SK Hynix has&nbsp;announced plans to acquire&nbsp;Intel's NAND Storage Unit (INTC), which represented a 7.5% market share in the NAND market beginning this year. Moving forward, this move is likely to bump the Korean company up to 2nd place with about 20% of the market, overtaking Kioxia. It is important to note however that this acquisition does not include Intel's Optane 3D XPoint portfolio that Intel will be retaining.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2b8da20e0246607003c65afa09ff3998\" tg-width=\"640\" tg-height=\"403\"><span>Source: Statista Global NAND Flash Market Share</span></p>\n<p>Despite having more competition and less pricing power in this market, there too have been rumors that Micron is looking to make a move on Kioxia in a&nbsp;similar bid for $30 BN&nbsp;to enhance the competitiveness in its storage solutions in a rapidly growing NAND flash space. Western Digital also stands as a potential opposing bidder with both firms having merits as to why they should be the ideal one to acquire Kioxia. As of now, leverage seems to be in the hands of Micron as a firm with much more operating cashflow and a better balance sheet.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e220cb5c3b6dea5d0f84bde25765bfa\" tg-width=\"640\" tg-height=\"384\"><span>Source: Author's Compilations</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc8e8ee498e5b2469b09b1605b2ef98a\" tg-width=\"640\" tg-height=\"384\"><span>Source: Author's Compilations</span></p>\n<p>The $30 BN that Kioxia has been rumored to be valued at represents more than the entire Market Cap &amp; EV of Western Digital. Besides, the firm already has more Total Debt relative to Micron, lower Operating Cashflows, and has a lower LTM Current Ratio of 2.01 compared to the 3.18 that Micron has that speaks directly to MU's near term liquidity strength. Surface level financial analysis goes to show that this would be a deal likely to go to Micron despite WDC having a joint venture with Kioxia. Furthermore, Micron has a rather&nbsp;long history of acquisitions&nbsp;having acquired Numonyx, a NOR manufacturer in 2010, Elpida Memory &amp; Rexchip Electronics in 2013, Tidal Systems, Convey Computer, and Pico Computing in 2015, Inotera Memories in 2016… the list goes on. As you can see, Micron is quite the decorated acquiring firm.</p>\n<p>If successful, Micron's NAND dominance has the potential to leap from its 5th placing, 11.1% of the market share to 29.8%, placing them as the 2nd biggest player, just 370 Bps below that of Samsung, and this is after accounting for SK Hynix's recent acquisition of Intel's NAND operations.</p>\n<p><b>More Conviction</b></p>\n<p>For more conviction in our thesis, we can look to the performance and different TAMs in Micron's business units breakdown.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8953a521354fd97f74d0f8694e0a0ee6\" tg-width=\"640\" tg-height=\"204\"><span>Source: Micron's Q2 Investor Presentation</span></p>\n<p>As of FQ-2 21, CNBUs (Compute &amp; Networking Business Unit) as always represented the largest portion of the firm's sales, taking up 42% of TR. This unit consists of memory products like DRAM &amp; NAND sold to client, cloud servers, graphics, enterprise and networking markets as defined by the&nbsp;10-Q.The 34% YOY improvement is promising but the really exciting growth came from MBUs and remains to be seen in EBUs.</p>\n<p>MBUs (Mobile Business Unit) represent the 2nd biggest revenue segment for Micron, accounting for 29% of TR, up an impressive 44% YOY. MBUs are memory and storage products for mobile devices, most notably smartphones. According to&nbsp;Mordor Intelligence,the global smartphone market will be valued at more than a trillion dollars by 2026, up from the $715 BN in 2020, a CAGR of 11.6%. Although therein lies the risk that the smartphone replacement cycle has been lengthening, the gradual shift to 5G overtime will force smartphone users to have to upgrade to a 5G capable one that can operate on the same frequency. Doing so will mean more DRAM and NAND content per unit that Micron will stand to benefit from.</p>\n<p>However, what's being left out by many is Micron's dominant position in the memory market for automobiles and the sizable TAM in this space moving forward. EBUs (Embedded Business Unit) represent the 2nd smallest revenue segment (15% of TR) of the 4 that Micron has. This essentially refers to embedded memory and storage chips sold to automotive, industrial, and consumer markets. Despite not being the main cash cow for Micron, EBUs still saw remarkable growth of 34% YOY in FQ-2. Micron may have been 3rd in the overall DRAM space and 5th in the overall NAND space, but they are the only memory chip provider with a substantial close to&nbsp;50% market share&nbsp;in the space, according to Trendforce, a world leading market intelligence provider.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e31402367246f258d67658ada2e3a41e\" tg-width=\"640\" tg-height=\"229\"><span>Source: Micron's Automotive Division</span></p>\n<p>This is where the geographical advantage for Micron comes into play. Micron effectively leverages their collaborative relationships with Tier-1 automobile suppliers based in Europe and the U.S to service them their comprehensive product portfolio of automotive memory solutions ranging from&nbsp;DDR2 - DDR 4 solutions to LPDDR 2 -5 solutions.The pure growth in this space can be seen from the fact that the average DRAM content of cars will continue to grow at a CAGR of more than&nbsp;30% from 2021 - 2024.That is by far the biggest growth sector in any of Micron's Business Units moving forward and Micron's 30 years of leadership in the automobile memory space with no dominant position from Samsung or SK Hynix will come to serve them well in an era where we transition to EVs &amp; AVs.</p>\n<p>As it is, Tesla has already shown that new electric vehicles will be needing a lot more DRAM content and this trend will continue to play out as the world demands more cars with more technological capabilities. In its earlier Model S &amp; X, Tesla reached at least 8GB of DRAM content within the vehicles. The newer Model 3, however, is further equipped with 14GB of DRAM content and the&nbsp;next generation of Tesla Models will have even more at 20GB.</p>\n<p>The growing automobile memory space where Micron has maintained its underdog&nbsp;30-year leadership&nbsp;will come to serve them well in the future as we transition to more sustainable and green versions of automobiles that demand more memory as well. Just remember that the more software a device has, the more memory is needed. Hence, we should be able to see positive growth in the EBU segment moving forward. However, one thing to note is that the EBU segment consists of sales to other industries that may be lagging and as a whole, the Operating Margins(NASDAQ:OM)from this segment of 15% stands pale in comparison to the OM in the CNBU segment of 26.9% and 25.6% in MBUs.</p>\n<p><b>Industry Tailwinds</b></p>\n<p>Moving on to the industry outlook, Micron operates in a somewhat commoditized sector which experiences the extreme booms and busts of the demand cycle for PCs and Servers. Despite being a rather cyclical stock where the stock price is commanded largely by the DD and SS of computer chips and production capacity in general, it appears as if we are at the lows of the cycle and Micron remains to be one of the better plays for the ongoing global chip shortage as we begin the next leg up.</p>\n<p>For a brief explanation on how the memory chip market moves overtime, let me take a stab at it. In essence, the overall supply of memory chips - most of which is produced by the dominant 3 - relative to demand, dictates the prices of chips, and therefore affects the financials of companies.</p>\n<p>When the memory market is in a 'bull' cycle as it was in 2010, 2014, 2018, and forecasted DD is set to outpace production capacities by firms, it results in a near-term shortage where the dominant market players (MU included) have the power to raise prices and maximize revenues. As COGS remain relatively constant regardless of the commodity cycle, this eventually translates to higher Gross Margins(NYSE:GM)for firms, a higher EBITDA which coincides nicely with stock price outperformance, and likely a higher bottom line. Although market players tend to agree on CAPEX spending and limit production capacities as a hedge from overproduction, firms blinded by the profits and higher margins tend to chase 'gains' and make the most of the cycle by capturing as much market share as possible.</p>\n<p>When firms do that and start to ramp up capacity with no regard for agreed limitations on production capacity and CAPEX spend, overproduction usually ensues that overwhelms the already inflated DD that is now dwindling, resulting in a surplus which brings just about the opposite consequence. Firms then lose pricing power and experience compressing margins in the years to follow, before the slowdown in capacity because of this very surplus eventually dips below future forecasted DD, thereby kickstarting the next leg up because of a shortage.</p>\n<p>Looking to history, when Micron has enjoyed higher EBITDA during those bull commodity cycles when there is a shortage in the industry, the stock price tends to outperform as well, in line with the higher pricing power and margins the firm experiences.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/18c32366202010d3411e7888fcae587f\" tg-width=\"640\" tg-height=\"393\"><span>Source: Author's Compilations</span></p>\n<p>2018 represented the peak in the previous memory market commodity cycle where the dominant industry players overbuilt capacity chasing margins, and as a result experienced the surplus and its consequences since. Because EBITDA has been falling since 2018 and GM, OM, and NPM have all cumulatively been decreasing YOY, so has the stock price. However, we are now facing another shortage in the DRAM market as production has slowed since the resulting slowdown in 2018. This coupled with an unprecedented surge in demand for chips, fueled by the emerging hyper-growth industries brought forward by the pandemic sets the stage for Micron's potential rally up. With a transition to 5G, Electric and Autonomous Vehicles, Artificial Intelligence, IOTs, Cloud Computing, Cobotic Manufacturing and Healthcare Telemedicine, the convergence of these advanced technologies mean more demand for advanced memory solutions, and Micron stands to win from it all.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/060cf4c42cb775ea2a1d35cbd3b796e1\" tg-width=\"640\" tg-height=\"261\"><span>Source: Micron FQ-2 Investor Presentation</span></p>\n<p>The industry outlook only serves to confirm the shifting tides in the memory market, with the DRAM market facing a severe shortage and optimistic long-term demand growth at a CAGR around 15-19%. A shortage may not seem like good news, but for a dominant market player like Micron that can raise prices and aren't reliant on outsourced production, it is. For further confirmation we can look to the upwardly revised estimates regarding the rise in DRAM prices in Q1 and Q2 of 2021 by&nbsp;Trendforce:</p>\n<blockquote>\n Trendforce predicts that DRAM prices will rise 13-18% in the second quarter of 2021 &amp; they already rose 3-8% in the first quarter of 2021.\n</blockquote>\n<p>Call it inflation, call it whatever you want, but what I do know is that the higher prices in the DRAM market that has since manifested itself and has been forecasted to rise even higher will translate to higher profits for Micron. Market players are likely to make the most of this shortage as demand will not taper off given the fundamental need for memory chips against the backdrop of an era where advanced technologies are so rampant. Analysts too are forecasting improved revenues and earnings seen from the number of upward revisions and none downward in the last 3 months.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ff33c479a31ba4e4ee56a91be2d78318\" tg-width=\"456\" tg-height=\"111\"><span>Source: Seeking Alpha</span></p>\n<p>In the NAND market, although production output has been forecasted to be oversupplied due to increasing shipments, CY 21 demand is still expected to be around 30 - 35% and CAPEX cuts are likely to be implemented.</p>\n<p><b>Financials</b></p>\n<p>Q1 Revenue delivered 12% growth YOY, GM a 359 Bps improvement to 30.90% and NPM a 488 Bps growth YOY to a healthy 15.54%. Q2 delivered even better numbers, with Revenues coming in at $6.2 BN despite management guidance of $5.8 BN. GM further improved to 32.93% and NPM increased 731 Bps YOY to end the quarter with NPM at 18.09%. All of the above are NON-GAAP numbers.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/07766c05dc0d46a9660c290084da2442\" tg-width=\"640\" tg-height=\"209\"><span>Source: Micron FQ-2 Investor Presentation</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9d3f14c1b13fc41c6c44c29f8a947fb\" tg-width=\"451\" tg-height=\"145\"><span>Source: Seeking Alpha</span></p>\n<p>Management also has a history of beating estimates with 8 beats in the last 2 years, effectively delivering a 100% probability that it will beat its own guidance moving forward, although not a guarantee as with anything else in business and life. Yet, forward guidance for FQ-3 is expecting a 30% improvement in Revenues YOY and GM to further rise to 41.5%, compared to the 33.17% they did last year and 32.93% just last quarter. As for DEPS estimates, the $1.62 estimate given by management implies a remarkable 98% YOY increase. Analyst consensus estimates come in even higher than that for the upcoming FQ-3 earnings to be reported on&nbsp;6/30/21 (estimated), with analysts expecting EPS to be $1.68, indicative of a 105% change to the upside.</p>\n<p>As mentioned above, in a memory chip 'bull' cycle, pricing power comes into play and the higher prices usually tend to translate into stock outperformance driven by improvements in EBTIDA. Last I checked 1 -2 months ago, EBITDA EST for FY 21 stood around $9 BN and FY 22 EST was $16 BN. As of 26 May 21, those numbers have increased substantially to $12,772 for FY 21 and $20,228 for FY 22. Today, EST have improved yet again in the last 5 days to $12,801 for FY 21 and $20,551 for FY 22. For context, these new EST represent a 48% and 61% YOY improvement.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fe3bd33eeed49eebb87776a32f152e41\" tg-width=\"640\" tg-height=\"137\"><span>Source: Tikr</span></p>\n<p>Next, we'll examine cashflow. This is paramount in a high volatility time period like today, plagued with inflation concerns, widening federal deficits, and an ever-increasing Fed balance sheet. When inflation is rampant or at least fears of it are, high growth stocks and tech stocks tend to get crushed as the market rushes to reset the absurd valuation multiples justified last year with QE and money printing running at full steam. Since the US10Y (Interest rates) affects the DCF models, valuations for certain companies will be revised downwards with less upside, with the exception of high cashflow companies. Thus, cashflow generating firms are all the more important and likely to be favored moving forward, and yet again Micron is one of them.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/14d722c6a10e22e26e12a82be0a69481\" tg-width=\"640\" tg-height=\"125\"><span>Source: Tikr</span></p>\n<p>Although Cashflow from Operations have been steadily decreasing since 2018 where it reached a high of $17,400, I mentioned above that 2018 represented the peak of the bull cycle then where firms were chasing higher margins. 2019 - 2020 then represented the slowdown phase brought about by the surplus and after hitting a 3-year low of $8,306 in Cashflow from Operations in FY 20 that ended last August, Micron is likely ready to see substantial improvements moving forward, and EST do paint a similar picture.</p>\n<p>Analysts are expecting Cashflow from Operations to improve 49% YOY in FY 21 and a further 45% in FY 22. If that were to happen, that would bring cashflow close to $18 BN, which would be a record level cashflow generated from Operations for the firm. This also trickles down to FCF EST which represents the capital left for distribution after expenses related to operations have been taken care of and non-cash expenses have been reconciled.</p>\n<p>FCF EST come in at an outstanding $3,344 for FY 21 and is further expected to skyrocket to $8,148 in FY 21, from a meagre $83M last year. This pace of growth points to a close to 4000% YOY increase in FY 21 and a further 144% increase compounded on FY 21 numbers next year.</p>\n<p>Currently, Micron trades at an EV of around $93 BN. That represents a FCF Yield of 3.60% based on this year's EST, and an impressive 11.4% based on next year's numbers. With that, it is clear that Micron's future earnings and cashflow will serve them well in a macro environment riddled with inflation fears. This massive boost to FCF may just give them the capital they need to seal the deal with Kioxia.</p>\n<p><b>Risks</b></p>\n<p>No matter how sound an investment may be, every one of them carries risk, and so does choosing to invest in Micron. I know the article has been long thus far so I will try to keep it short to avoid boring my 1st time readers.</p>\n<p>With the high BTE's that are inherently present in the DRAM and NAND markets brought about by the large economies of scale and sheer market share the dominant 3 possess, it is hard for competitors to enter the market. Nonetheless, there have been a few attempts by Chinese companies to penetrate the market and steal market share.</p>\n<p>Government subsidies as part of the \"Made in China 2025\" plan has helped propel Chinese firms to pose a threat in the DRAM and NAND markets. Fujian Jinhua (JHICC) is one of them. As a Chinese state-owned DRAM manufacturer based in China, the firm is competing with Micron in the DRAM market as part of China's desire to gain self-sufficiency in the semiconductor industry. This is understandable given that they are the largest consumers of DRAM in the Asian-Pacific market. However, Fujian is currently facing&nbsp;prosecution&nbsp;for allegedly stealing Micron's trade secrets and proprietary information. With such bad press and a bad reputation just 4 years after being founded, it is unlikely this firm will make it far enough to compete with the likes of Micron.</p>\n<p>Changing industry tailwinds may also prove to be a headwind in the case that demand growth for DRAM and NAND devices slowdown. Increased CAPEX spending by Samsung and SK Hynix or the addition of new capacity could also severely impact Micron's competitive position in the market and an all-out race to buildout and ramp up capacity to capture more sales may eventually culminate in the loss of pricing power and compressed margins once again. However, given the number of upcoming industries where more advanced technologies demand more memory to store data, this probability is small in the near term at the very least.</p>\n<p>Other potential risks may include further unexpected impacts to Micron's power plants such as&nbsp;outages and floods&nbsp;similar to what happened in Taiwan last year.</p>\n<p><b>Valuation</b></p>\n<p>Finally, I will cover the valuations behind my upside optimism with Micron. The memory market has historically tended to trade based on the EV / EBITDA multiple. Because of this, I will use this as my prime valuation method but also use Forward PE's as secondary confirmation. The chart below represents the EV / EBITDA ratios that the dominant 3 have traded at since 2016.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00bc87a283f9420f33b1c7c52ad2f344\" tg-width=\"640\" tg-height=\"384\"><span>A005930 refers to Samsung and A000660 refers to SK Hynix</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb98c272aeec7c9aefdab00d22955f64\" tg-width=\"611\" tg-height=\"367\"><span>Source: Author's Compilations</span></p>\n<p>We can see that Micron has been trading at a Mean EV / EBITDA multiple of 5.49 since 2016 and is trading at 9.64 levels as of last. For a conservative estimate, I will assume a ratio of 8, which is above the industry average of 7.49 in the current environment we are in today but below levels Micron is currently trading at. For context, the firm has always traded above its peers during the bull commodity cycle in 2010, 2014, and 2018 as seen in the chart below. It is important to note that since markets are future discounting mechanisms, they price in future margin expansions and pricing power. As a result, the dominant 3 usually trade at the higher multiples 1 year before the peak of the cycle.</p>\n<p><img src=\"https://static.tigerbbs.com/c4effc3d3acfdad8726c391bb0872880\" tg-width=\"640\" tg-height=\"229\"></p>\n<p>Keeping in mind that Micron has traded at multiples of 29 in 2009, 12 in 2014 and 10 in the previous cycle, 8 would be a fair multiple to assume. EBITDA EST for FY 22 next year stand at $20,551.32 as seen in the picture displayed earlier on. That would imply an EV of $164,410.56 in 22, an upside of 77% based on today's EV of $93 BN. If so, that should carry the stock forward to levels of $148 USD by next year.</p>\n<p>If I were to assume a slightly aggressive and bullish multiple of 9 which is still below the peak of the prior cycle keeping in mind the law of diminishing returns, that would imply an upside of 99%, placing a price target of $167 USD for Micron.</p>\n<p>Since I'm a long-term investor and a conservative one, I'll stick with the $148 PT while my readers can keep the $167 potential price target in mind. I'm kidding, let's use the $148 PT which still offers a remarkable return relative to the S&amp;P 500.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e6626b3363e839c178999a3d2b48940\" tg-width=\"640\" tg-height=\"46\"><span>Source: Tikr</span></p>\n<p>The current estimates for Micron's future EPS are 5.56 for FY 21 and 10.93 for FY 22. Since we looked at FY 22 for the above valuation method, we shall maintain the same timeframe. Looking to the&nbsp;semiconductor industry, companies are trading at an average TTM P/E of 33.11 based on data from Q1.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ea91b1b8e3f714b2441d27be59a6c538\" tg-width=\"640\" tg-height=\"64\"><span>Source: CSI Market</span></p>\n<p>Micron is currently trading at a forward P/E FY 21 of 15.15 and a 7.7 based on FY 22 numbers. Assuming a fair multiple of 12, which is still below the high estimates of 15, that would give us a forward PT of $131.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9c6db0e4e02a94b2ed6ad9df84767cc9\" tg-width=\"640\" tg-height=\"110\"><span>Source: Seeking Alpha</span></p>\n<p><b>Final Takeaways</b></p>\n<p>Based on conservative estimates, the 2 valuation methods displayed above give us a PT for Micron of $131 based on the Forward P/E method and $148 if we were to use EV / EBITDA multiples. This represents a 56-77% upside potential.</p>\n<p>In this article we covered business model, market share, industry tailwinds with a heavy focus on TAMs, liquidity strength through current ratios, cashflow, risks, and of course valuations, all of which points to high probability of a bullish future for Micron Technology.</p>\n<p>I have noticed that there has been some&nbsp;concerns&nbsp;regarding price action lately and how the stock seems to be having trouble finding its footing given the pretty obvious bullish thesis, and they are valid in my opinion. For bearish near-term fundamentals, the above linked article would be a nice short read.</p>\n<p>I personally am a long-term investor and don't place much focus on the technicals and this helps keep me grounded. There may be a very good chance that Micron will continue to trend downwards before finding support and consolidate for its next leg up. As mentioned above, the stock seems to outperform 1 year before the peak of the memory cycle whenever that may be. Hence, the memory market is to be watched closely and investors must understand how changes in the dynamics of the market regarding production &amp; CAPEX levels can shift the tide quickly.</p>\n<p>As a result, I don't see Micron to be a buy and hold forever as share price performance falls very much in line with its own commodity cycle, EBITDA, and Margin performance, which will eventually come to an end when surplus hits the deck. Yet, for the next 1-2 years, Micron remains to be one of the best plays on the current global chip shortage. If Micron continues to trend downwards in the near term, so be it, but fundamentals always catch up and based on future estimates, there's likely only one way for the share price moving forward and that isn't down.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Micron: A Strong Chip Shortage Play</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\">\nMicron: A Strong Chip Shortage Play\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-06 11:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favourable outlooks.\nIndustry tailwinds point to pricing power and expanding margins.\nThe strong ...</p>\n\n<a href=\"https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技"},"source_url":"https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102972710","content_text":"Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favourable outlooks.\nIndustry tailwinds point to pricing power and expanding margins.\nThe strong financials of the company will serve them well in the current high-volatility environment.\n\nPhoto by vchal/iStock via Getty Images\nMicron Technology(NASDAQ:MU) is a severely undervalued semiconductor play with significant upside based upon conservative estimates, strong fundamentals, and favorable industry tailwinds. The current semiconductor shortage worldwide has put pressure upon semiconductor companies as they rush to ramp up production after an intentional slowdown and supply disruption amidst the pandemic. Forecasts and estimates regarding how fast demand was to bounce back came in entirely too conservative, and as a result the unprecedented surge in demand with a lagging supply has buyers of semiconductor chips such as auto manufacturers forced to slash production.\nSemiconductors of all kinds are the fundamental basic unit and brains of products ranging from audio devices, security cameras, automobiles, to even smart fridges. When it comes to a global shortage in a time as such, companies that are 'fabless' lose out and those that have their own manufacturing facilities and plants gain the upper hand as flexibility and production output remains in their ballpark. Today we examine how Micron is one of them, and despite its remarkable run up 54% since the start of 2020, there is considerable upside remaining given the size of the different total addressable markets(NYSE:TAM)that Micron is targeting.\nBusiness Model\nMicron is one of the top 3 memory chip makers in the world with a product portfolio featuring DRAM, NAND, NOR, and even 3D XPoint SSDs that they have since ceased production.Management guided that the decision comes amidst the findings that:\n\n There was insufficient market validation to justify the ongoing investments required to commercialize 3D XPoint at scale.\n\nAs promising as the 3D XPoint developments that Micron had that first started as a joint partnership with Intel in 2015 before parting ways in 2018 was, the impact moving forward will be minimal given that revenue from selling DRAM and NAND chips still accounts for the majority of Micron's Revenue, and 3D XPoint SSDs had yet to scale up.\nDRAM and NAND\nDRAM (Dynamic Random-Access Memory) devices are essentially a type of low latency memory product commonly used in PCs, servers, smartphones, and automobiles.\nIt is 'volatile' as content will be lost if the power supply is turned off. As such, DRAM devices store information that needs to be quickly accessed by the CPU / GPU. CPUs provide the raw computational power needed to run software programs and RAMs store the data and software code needed by the CPU to run in real-time.\nThe DRAM market operates as an oligopolistic one, with the 3 biggest competitors, Samsung (OTC:SSNLF), SK Hynix (OTC:HXSCL), and Micron dominating 94.1% of the market share. Samsung leads with 42% as of the latest fiscal quarter, SK Hynix second with 29% and Micron close behind with 23.1% of the market share.Amongst the 3, Micron is the only one operating in the U.S with Samsung & SK Hynix based in South Korea. This geographical advantage has come to serve Micron well in the automobile memory market as I will proceed to prove later, although it can be argued that this very same factor has placed the 2 Korean companies in a better position to service the largest consumer of DRAMs by region - China. In 2019, China accounted for 55.42% of global DRAM consumption by region.\nSource: Statista Global DRAM Market Share\nAs of the latest fiscal quarter 21, DRAM sales represented 71.26% of the company's total revenue. Although there may be the risk of concentration with a substantial portion of sales coming from 1 of the 3 main product offerings, DRAM chips have always represented the majority of the firm's sales. With favorable industry tailwinds, positive outlook regarding overall DRAM market dynamics, pricing power, and very likely higher margins as a result, this concentration of sales will likely also prove to be more of a boon than a bane for Micron in the current economic environment that we are in today.\nHistorically, Micron has also retained a firm hold of their share in the DRAM market and has made an effort to gradually increase it overtime since CY 2016. The inherently high BTE and economies of scale in an oligopolistic market coupled with necessary high CAPEX spending serves to grant the dominant 3 a firm hold in the DRAM market for years to come. The chart below shows Micron holding a steady 20 - 23% market share since CY 15, testament to their persistent presence as a top 3 market player.\nSource: Author's Compilations\nTAM: As DRAM products represent a majority of Micron's sales, it is imperative that the market they are operating in has a bright future and is on track to grow.According to MarketWatch,the global DRAM market revenue was valued at $62.1 BN in 2020 and is expected to grow to $91.1 BN by the end of 2026, representing a CAGR of 8%. With a sizable TAM in their leading product offering, the company should reap in the rewards of a growing market in terms of future revenue. As DRAM products also bring in higher margins at the end of the day based on CNBU and MBU (explained below) Operating Margins, this acts as a further catalyst for Micron.\nMicron also offers NAND products and though it represents a smaller chunk of Total Revenue relative to DRAMs, it still accounted for a meaningful 26.46% as of Q2 FY 21. NAND chips are used for the storage of information. Slower than DRAMs for accessing memory quickly, they are 'non-volatile' as the content can still be accessed should the power supply be cut off. These are commonly found in hard drives, smartphones and data centers.\nLikewise, the dominant 3 in the DRAM market also represent a significant portion of the NAND market albeit having more competitors. In the NAND flash market, Micron ranks 5th worldwide, behind the same industry leader - Samsung. As of Q1 21, Samsung dominated with 33.5% market share, Kioxia 18.7%, Western Digital (WDC) 14.4%, SK Hynix 12.3%, and Micron with 11.1%. However, in a market very similar to that of DRAM, acquisitions by the big power players can be expected to further solidify their presence and chew out competitors. As it is, SK Hynix has announced plans to acquire Intel's NAND Storage Unit (INTC), which represented a 7.5% market share in the NAND market beginning this year. Moving forward, this move is likely to bump the Korean company up to 2nd place with about 20% of the market, overtaking Kioxia. It is important to note however that this acquisition does not include Intel's Optane 3D XPoint portfolio that Intel will be retaining.\nSource: Statista Global NAND Flash Market Share\nDespite having more competition and less pricing power in this market, there too have been rumors that Micron is looking to make a move on Kioxia in a similar bid for $30 BN to enhance the competitiveness in its storage solutions in a rapidly growing NAND flash space. Western Digital also stands as a potential opposing bidder with both firms having merits as to why they should be the ideal one to acquire Kioxia. As of now, leverage seems to be in the hands of Micron as a firm with much more operating cashflow and a better balance sheet.\nSource: Author's Compilations\nSource: Author's Compilations\nThe $30 BN that Kioxia has been rumored to be valued at represents more than the entire Market Cap & EV of Western Digital. Besides, the firm already has more Total Debt relative to Micron, lower Operating Cashflows, and has a lower LTM Current Ratio of 2.01 compared to the 3.18 that Micron has that speaks directly to MU's near term liquidity strength. Surface level financial analysis goes to show that this would be a deal likely to go to Micron despite WDC having a joint venture with Kioxia. Furthermore, Micron has a rather long history of acquisitions having acquired Numonyx, a NOR manufacturer in 2010, Elpida Memory & Rexchip Electronics in 2013, Tidal Systems, Convey Computer, and Pico Computing in 2015, Inotera Memories in 2016… the list goes on. As you can see, Micron is quite the decorated acquiring firm.\nIf successful, Micron's NAND dominance has the potential to leap from its 5th placing, 11.1% of the market share to 29.8%, placing them as the 2nd biggest player, just 370 Bps below that of Samsung, and this is after accounting for SK Hynix's recent acquisition of Intel's NAND operations.\nMore Conviction\nFor more conviction in our thesis, we can look to the performance and different TAMs in Micron's business units breakdown.\nSource: Micron's Q2 Investor Presentation\nAs of FQ-2 21, CNBUs (Compute & Networking Business Unit) as always represented the largest portion of the firm's sales, taking up 42% of TR. This unit consists of memory products like DRAM & NAND sold to client, cloud servers, graphics, enterprise and networking markets as defined by the 10-Q.The 34% YOY improvement is promising but the really exciting growth came from MBUs and remains to be seen in EBUs.\nMBUs (Mobile Business Unit) represent the 2nd biggest revenue segment for Micron, accounting for 29% of TR, up an impressive 44% YOY. MBUs are memory and storage products for mobile devices, most notably smartphones. According to Mordor Intelligence,the global smartphone market will be valued at more than a trillion dollars by 2026, up from the $715 BN in 2020, a CAGR of 11.6%. Although therein lies the risk that the smartphone replacement cycle has been lengthening, the gradual shift to 5G overtime will force smartphone users to have to upgrade to a 5G capable one that can operate on the same frequency. Doing so will mean more DRAM and NAND content per unit that Micron will stand to benefit from.\nHowever, what's being left out by many is Micron's dominant position in the memory market for automobiles and the sizable TAM in this space moving forward. EBUs (Embedded Business Unit) represent the 2nd smallest revenue segment (15% of TR) of the 4 that Micron has. This essentially refers to embedded memory and storage chips sold to automotive, industrial, and consumer markets. Despite not being the main cash cow for Micron, EBUs still saw remarkable growth of 34% YOY in FQ-2. Micron may have been 3rd in the overall DRAM space and 5th in the overall NAND space, but they are the only memory chip provider with a substantial close to 50% market share in the space, according to Trendforce, a world leading market intelligence provider.\nSource: Micron's Automotive Division\nThis is where the geographical advantage for Micron comes into play. Micron effectively leverages their collaborative relationships with Tier-1 automobile suppliers based in Europe and the U.S to service them their comprehensive product portfolio of automotive memory solutions ranging from DDR2 - DDR 4 solutions to LPDDR 2 -5 solutions.The pure growth in this space can be seen from the fact that the average DRAM content of cars will continue to grow at a CAGR of more than 30% from 2021 - 2024.That is by far the biggest growth sector in any of Micron's Business Units moving forward and Micron's 30 years of leadership in the automobile memory space with no dominant position from Samsung or SK Hynix will come to serve them well in an era where we transition to EVs & AVs.\nAs it is, Tesla has already shown that new electric vehicles will be needing a lot more DRAM content and this trend will continue to play out as the world demands more cars with more technological capabilities. In its earlier Model S & X, Tesla reached at least 8GB of DRAM content within the vehicles. The newer Model 3, however, is further equipped with 14GB of DRAM content and the next generation of Tesla Models will have even more at 20GB.\nThe growing automobile memory space where Micron has maintained its underdog 30-year leadership will come to serve them well in the future as we transition to more sustainable and green versions of automobiles that demand more memory as well. Just remember that the more software a device has, the more memory is needed. Hence, we should be able to see positive growth in the EBU segment moving forward. However, one thing to note is that the EBU segment consists of sales to other industries that may be lagging and as a whole, the Operating Margins(NASDAQ:OM)from this segment of 15% stands pale in comparison to the OM in the CNBU segment of 26.9% and 25.6% in MBUs.\nIndustry Tailwinds\nMoving on to the industry outlook, Micron operates in a somewhat commoditized sector which experiences the extreme booms and busts of the demand cycle for PCs and Servers. Despite being a rather cyclical stock where the stock price is commanded largely by the DD and SS of computer chips and production capacity in general, it appears as if we are at the lows of the cycle and Micron remains to be one of the better plays for the ongoing global chip shortage as we begin the next leg up.\nFor a brief explanation on how the memory chip market moves overtime, let me take a stab at it. In essence, the overall supply of memory chips - most of which is produced by the dominant 3 - relative to demand, dictates the prices of chips, and therefore affects the financials of companies.\nWhen the memory market is in a 'bull' cycle as it was in 2010, 2014, 2018, and forecasted DD is set to outpace production capacities by firms, it results in a near-term shortage where the dominant market players (MU included) have the power to raise prices and maximize revenues. As COGS remain relatively constant regardless of the commodity cycle, this eventually translates to higher Gross Margins(NYSE:GM)for firms, a higher EBITDA which coincides nicely with stock price outperformance, and likely a higher bottom line. Although market players tend to agree on CAPEX spending and limit production capacities as a hedge from overproduction, firms blinded by the profits and higher margins tend to chase 'gains' and make the most of the cycle by capturing as much market share as possible.\nWhen firms do that and start to ramp up capacity with no regard for agreed limitations on production capacity and CAPEX spend, overproduction usually ensues that overwhelms the already inflated DD that is now dwindling, resulting in a surplus which brings just about the opposite consequence. Firms then lose pricing power and experience compressing margins in the years to follow, before the slowdown in capacity because of this very surplus eventually dips below future forecasted DD, thereby kickstarting the next leg up because of a shortage.\nLooking to history, when Micron has enjoyed higher EBITDA during those bull commodity cycles when there is a shortage in the industry, the stock price tends to outperform as well, in line with the higher pricing power and margins the firm experiences.\nSource: Author's Compilations\n2018 represented the peak in the previous memory market commodity cycle where the dominant industry players overbuilt capacity chasing margins, and as a result experienced the surplus and its consequences since. Because EBITDA has been falling since 2018 and GM, OM, and NPM have all cumulatively been decreasing YOY, so has the stock price. However, we are now facing another shortage in the DRAM market as production has slowed since the resulting slowdown in 2018. This coupled with an unprecedented surge in demand for chips, fueled by the emerging hyper-growth industries brought forward by the pandemic sets the stage for Micron's potential rally up. With a transition to 5G, Electric and Autonomous Vehicles, Artificial Intelligence, IOTs, Cloud Computing, Cobotic Manufacturing and Healthcare Telemedicine, the convergence of these advanced technologies mean more demand for advanced memory solutions, and Micron stands to win from it all.\nSource: Micron FQ-2 Investor Presentation\nThe industry outlook only serves to confirm the shifting tides in the memory market, with the DRAM market facing a severe shortage and optimistic long-term demand growth at a CAGR around 15-19%. A shortage may not seem like good news, but for a dominant market player like Micron that can raise prices and aren't reliant on outsourced production, it is. For further confirmation we can look to the upwardly revised estimates regarding the rise in DRAM prices in Q1 and Q2 of 2021 by Trendforce:\n\n Trendforce predicts that DRAM prices will rise 13-18% in the second quarter of 2021 & they already rose 3-8% in the first quarter of 2021.\n\nCall it inflation, call it whatever you want, but what I do know is that the higher prices in the DRAM market that has since manifested itself and has been forecasted to rise even higher will translate to higher profits for Micron. Market players are likely to make the most of this shortage as demand will not taper off given the fundamental need for memory chips against the backdrop of an era where advanced technologies are so rampant. Analysts too are forecasting improved revenues and earnings seen from the number of upward revisions and none downward in the last 3 months.\nSource: Seeking Alpha\nIn the NAND market, although production output has been forecasted to be oversupplied due to increasing shipments, CY 21 demand is still expected to be around 30 - 35% and CAPEX cuts are likely to be implemented.\nFinancials\nQ1 Revenue delivered 12% growth YOY, GM a 359 Bps improvement to 30.90% and NPM a 488 Bps growth YOY to a healthy 15.54%. Q2 delivered even better numbers, with Revenues coming in at $6.2 BN despite management guidance of $5.8 BN. GM further improved to 32.93% and NPM increased 731 Bps YOY to end the quarter with NPM at 18.09%. All of the above are NON-GAAP numbers.\nSource: Micron FQ-2 Investor Presentation\nSource: Seeking Alpha\nManagement also has a history of beating estimates with 8 beats in the last 2 years, effectively delivering a 100% probability that it will beat its own guidance moving forward, although not a guarantee as with anything else in business and life. Yet, forward guidance for FQ-3 is expecting a 30% improvement in Revenues YOY and GM to further rise to 41.5%, compared to the 33.17% they did last year and 32.93% just last quarter. As for DEPS estimates, the $1.62 estimate given by management implies a remarkable 98% YOY increase. Analyst consensus estimates come in even higher than that for the upcoming FQ-3 earnings to be reported on 6/30/21 (estimated), with analysts expecting EPS to be $1.68, indicative of a 105% change to the upside.\nAs mentioned above, in a memory chip 'bull' cycle, pricing power comes into play and the higher prices usually tend to translate into stock outperformance driven by improvements in EBTIDA. Last I checked 1 -2 months ago, EBITDA EST for FY 21 stood around $9 BN and FY 22 EST was $16 BN. As of 26 May 21, those numbers have increased substantially to $12,772 for FY 21 and $20,228 for FY 22. Today, EST have improved yet again in the last 5 days to $12,801 for FY 21 and $20,551 for FY 22. For context, these new EST represent a 48% and 61% YOY improvement.\nSource: Tikr\nNext, we'll examine cashflow. This is paramount in a high volatility time period like today, plagued with inflation concerns, widening federal deficits, and an ever-increasing Fed balance sheet. When inflation is rampant or at least fears of it are, high growth stocks and tech stocks tend to get crushed as the market rushes to reset the absurd valuation multiples justified last year with QE and money printing running at full steam. Since the US10Y (Interest rates) affects the DCF models, valuations for certain companies will be revised downwards with less upside, with the exception of high cashflow companies. Thus, cashflow generating firms are all the more important and likely to be favored moving forward, and yet again Micron is one of them.\nSource: Tikr\nAlthough Cashflow from Operations have been steadily decreasing since 2018 where it reached a high of $17,400, I mentioned above that 2018 represented the peak of the bull cycle then where firms were chasing higher margins. 2019 - 2020 then represented the slowdown phase brought about by the surplus and after hitting a 3-year low of $8,306 in Cashflow from Operations in FY 20 that ended last August, Micron is likely ready to see substantial improvements moving forward, and EST do paint a similar picture.\nAnalysts are expecting Cashflow from Operations to improve 49% YOY in FY 21 and a further 45% in FY 22. If that were to happen, that would bring cashflow close to $18 BN, which would be a record level cashflow generated from Operations for the firm. This also trickles down to FCF EST which represents the capital left for distribution after expenses related to operations have been taken care of and non-cash expenses have been reconciled.\nFCF EST come in at an outstanding $3,344 for FY 21 and is further expected to skyrocket to $8,148 in FY 21, from a meagre $83M last year. This pace of growth points to a close to 4000% YOY increase in FY 21 and a further 144% increase compounded on FY 21 numbers next year.\nCurrently, Micron trades at an EV of around $93 BN. That represents a FCF Yield of 3.60% based on this year's EST, and an impressive 11.4% based on next year's numbers. With that, it is clear that Micron's future earnings and cashflow will serve them well in a macro environment riddled with inflation fears. This massive boost to FCF may just give them the capital they need to seal the deal with Kioxia.\nRisks\nNo matter how sound an investment may be, every one of them carries risk, and so does choosing to invest in Micron. I know the article has been long thus far so I will try to keep it short to avoid boring my 1st time readers.\nWith the high BTE's that are inherently present in the DRAM and NAND markets brought about by the large economies of scale and sheer market share the dominant 3 possess, it is hard for competitors to enter the market. Nonetheless, there have been a few attempts by Chinese companies to penetrate the market and steal market share.\nGovernment subsidies as part of the \"Made in China 2025\" plan has helped propel Chinese firms to pose a threat in the DRAM and NAND markets. Fujian Jinhua (JHICC) is one of them. As a Chinese state-owned DRAM manufacturer based in China, the firm is competing with Micron in the DRAM market as part of China's desire to gain self-sufficiency in the semiconductor industry. This is understandable given that they are the largest consumers of DRAM in the Asian-Pacific market. However, Fujian is currently facing prosecution for allegedly stealing Micron's trade secrets and proprietary information. With such bad press and a bad reputation just 4 years after being founded, it is unlikely this firm will make it far enough to compete with the likes of Micron.\nChanging industry tailwinds may also prove to be a headwind in the case that demand growth for DRAM and NAND devices slowdown. Increased CAPEX spending by Samsung and SK Hynix or the addition of new capacity could also severely impact Micron's competitive position in the market and an all-out race to buildout and ramp up capacity to capture more sales may eventually culminate in the loss of pricing power and compressed margins once again. However, given the number of upcoming industries where more advanced technologies demand more memory to store data, this probability is small in the near term at the very least.\nOther potential risks may include further unexpected impacts to Micron's power plants such as outages and floods similar to what happened in Taiwan last year.\nValuation\nFinally, I will cover the valuations behind my upside optimism with Micron. The memory market has historically tended to trade based on the EV / EBITDA multiple. Because of this, I will use this as my prime valuation method but also use Forward PE's as secondary confirmation. The chart below represents the EV / EBITDA ratios that the dominant 3 have traded at since 2016.\nA005930 refers to Samsung and A000660 refers to SK Hynix\nSource: Author's Compilations\nWe can see that Micron has been trading at a Mean EV / EBITDA multiple of 5.49 since 2016 and is trading at 9.64 levels as of last. For a conservative estimate, I will assume a ratio of 8, which is above the industry average of 7.49 in the current environment we are in today but below levels Micron is currently trading at. For context, the firm has always traded above its peers during the bull commodity cycle in 2010, 2014, and 2018 as seen in the chart below. It is important to note that since markets are future discounting mechanisms, they price in future margin expansions and pricing power. As a result, the dominant 3 usually trade at the higher multiples 1 year before the peak of the cycle.\n\nKeeping in mind that Micron has traded at multiples of 29 in 2009, 12 in 2014 and 10 in the previous cycle, 8 would be a fair multiple to assume. EBITDA EST for FY 22 next year stand at $20,551.32 as seen in the picture displayed earlier on. That would imply an EV of $164,410.56 in 22, an upside of 77% based on today's EV of $93 BN. If so, that should carry the stock forward to levels of $148 USD by next year.\nIf I were to assume a slightly aggressive and bullish multiple of 9 which is still below the peak of the prior cycle keeping in mind the law of diminishing returns, that would imply an upside of 99%, placing a price target of $167 USD for Micron.\nSince I'm a long-term investor and a conservative one, I'll stick with the $148 PT while my readers can keep the $167 potential price target in mind. I'm kidding, let's use the $148 PT which still offers a remarkable return relative to the S&P 500.\nSource: Tikr\nThe current estimates for Micron's future EPS are 5.56 for FY 21 and 10.93 for FY 22. Since we looked at FY 22 for the above valuation method, we shall maintain the same timeframe. Looking to the semiconductor industry, companies are trading at an average TTM P/E of 33.11 based on data from Q1.\nSource: CSI Market\nMicron is currently trading at a forward P/E FY 21 of 15.15 and a 7.7 based on FY 22 numbers. Assuming a fair multiple of 12, which is still below the high estimates of 15, that would give us a forward PT of $131.\nSource: Seeking Alpha\nFinal Takeaways\nBased on conservative estimates, the 2 valuation methods displayed above give us a PT for Micron of $131 based on the Forward P/E method and $148 if we were to use EV / EBITDA multiples. This represents a 56-77% upside potential.\nIn this article we covered business model, market share, industry tailwinds with a heavy focus on TAMs, liquidity strength through current ratios, cashflow, risks, and of course valuations, all of which points to high probability of a bullish future for Micron Technology.\nI have noticed that there has been some concerns regarding price action lately and how the stock seems to be having trouble finding its footing given the pretty obvious bullish thesis, and they are valid in my opinion. For bearish near-term fundamentals, the above linked article would be a nice short read.\nI personally am a long-term investor and don't place much focus on the technicals and this helps keep me grounded. There may be a very good chance that Micron will continue to trend downwards before finding support and consolidate for its next leg up. As mentioned above, the stock seems to outperform 1 year before the peak of the memory cycle whenever that may be. Hence, the memory market is to be watched closely and investors must understand how changes in the dynamics of the market regarding production & CAPEX levels can shift the tide quickly.\nAs a result, I don't see Micron to be a buy and hold forever as share price performance falls very much in line with its own commodity cycle, EBITDA, and Margin performance, which will eventually come to an end when surplus hits the deck. Yet, for the next 1-2 years, Micron remains to be one of the best plays on the current global chip shortage. If Micron continues to trend downwards in the near term, so be it, but fundamentals always catch up and based on future estimates, there's likely only one way for the share price moving forward and that isn't down.","news_type":1},"isVote":1,"tweetType":1,"viewCount":126,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112642217,"gmtCreate":1622869066839,"gmtModify":1704192788013,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"Would most probably be a good opportunity to buy before WWDC","listText":"Would most probably be a good opportunity to buy before WWDC","text":"Would most probably be a good opportunity to buy before WWDC","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/112642217","repostId":"1158897173","repostType":4,"repost":{"id":"1158897173","pubTimestamp":1622813283,"share":"https://ttm.financial/m/news/1158897173?lang=&edition=fundamental","pubTime":"2021-06-04 21:28","market":"us","language":"en","title":"Should You Buy Apple Stock Before WWDC?","url":"https://stock-news.laohu8.com/highlight/detail?id=1158897173","media":"TheStreet","summary":"On June 7, Apple will host its annual WWDC event – as a virtual conference, just like 2020. The Apple Maven looked back at recent history to see how AAPL stock behaved around these events.Apple’s WWDC is just around the corner. The Cupertino company will virtually host the 32nd Worldwide Developers Conference, starting June 7. Rumor has it that Apple will announce five new software updates, including iOS 15 and macOS 12. Also, new hardware could be unveiled, but these announcements tend to be ra","content":"<p>On June 7, Apple will host its annual WWDC event – as a virtual conference, just like 2020. The Apple Maven looked back at recent history to see how AAPL stock behaved around these events.</p>\n<p>Apple’s WWDC is just around the corner. The Cupertino company will virtually host the 32nd Worldwide Developers Conference, starting June 7. Rumor has it that Apple will announce five new software updates, including iOS 15 and macOS 12. Also, new hardware could be unveiled, but these announcements tend to be rare during the developers’ conference.</p>\n<p>Today, the Apple Maven looks back at the most recent WWDC events to check how the stock behaved prior to and immediately after the conference.</p>\n<p>Before we dive in…</p>\n<p>Keep in mind that the Apple Maven will cover the event via&nbsp;<b>live blog</b>, starting at 9:45 a.m. Cupertino time (PDT), on June 7. Tune in to follow our analysis of Apple's WWDC presentation!</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e4af607bdf7b93f038263f4c2d0575f3\" tg-width=\"1240\" tg-height=\"697\"><span>Figure 1: Apple's 2021 WWDC.</span></p>\n<p><b>WWDC 2017: Apple stock hiccups</b></p>\n<p>The 2017 edition of WWDC took place between June 5 and June 9, 2017. At that time, three software updates were announced: the iOS 11, macOS High Sierra and tvOS. Also, hardware updates were unveiled, including the Mac, iPad and HomePod.</p>\n<p>Looking at the performance of Apple shares a week before until the end of the event, AAPL investors did not show much enthusiasm. The stock moved 3% lower, trading at that time at $37.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/186aecd588efc459ba0be3e423485612\" tg-width=\"818\" tg-height=\"281\"><span>Figure 2: AAPL 2017 chart.</span></p>\n<p><b>WWDC 2018: modest climb</b></p>\n<p>In 2018, WWDC was held from June 4 to June 8. iOS 12 was announced, and so were software updates for Mac and Watch. This time, there were no hardware announcements.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/01f8d4a6d1b8bb55730d84f348b32520\" tg-width=\"818\" tg-height=\"285\"><span>Figure 3: AAPL 2018 chart.</span></p>\n<p>From one week prior until the end of the event, WWDC 2018 may have brought optimism to investors, as shares climbed by 2%, trading at that time at nearly $48.</p>\n<p><b>WWDC 2019: the start of the ramp</b></p>\n<p>The 2019 conference was held from June 3 to June 7. iOS 13 and other software updates were announced for the Mac, Watch, TV and iPad. Apple also launched hardware updates on Mac.</p>\n<p>Apple stock behaved well, rising nearly 7% from a week before to the end of the event. In 2019, WWDC coincided with the beginning of a massive climb in AAPL share price that lasted until the end of the year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f8e261dd232ee1779ea1d89a8ebd4dd7\" tg-width=\"818\" tg-height=\"280\"><span>Figure 4: AAPL 2019 chart.</span></p>\n<p><b>WWDC 2020: riding the recovery</b></p>\n<p>For the first time, the 2020 version of WWDC was held online because of the COVID-19 pandemic. The conference happened from June 22 to June 26. At that time, iOS 14 was announced, alongside iPad, Watch, TV and Mac software updates.The highlight of the event&nbsp;was the announced transition to custom ARM processors for Mac.</p>\n<p>The stock was rebounding from the COVID-19 stock market crash at that time. Looking back at the period between a week prior to and the end of the event, shares were up 3%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6fa56b7f188ab147a30b9f13621f0024\" tg-width=\"814\" tg-height=\"281\"><span>Figure 5: AAPL 2020 chart.</span></p>\n<p><b>What history suggests</b></p>\n<p>It is hard to predict how Apple stock will behave in the near future. However, looking back at history, we can draw a few conclusions about AAPL share price behavior around WWDC in the last 5 years.</p>\n<p>Except for the 2017 conference, Apple caught an updraft around the WWDC weeks. Whether the performance is related to the event itself is a matter of interpretation.</p>\n<p><b>What to expect of WWDC 2021</b></p>\n<p>For this year’s WWDC, Apple will likely release the usual software updates. For investors, possible updates on the products and services front would be most meaningful.</p>\n<p>A possible successor for the M1 chip, a 27-inc Mac, a new MacBook Pro, updates on AR and VR technology and even hints about the Apple Car would certainly be highlights. Any of these potential developments, even if unlikely to happen, could give an extra impulse for Apple shares in the short- and mid-terms.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Should You Buy Apple Stock Before WWDC?</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\">\nShould You Buy Apple Stock Before WWDC?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 21:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/apple/stock/should-you-buy-apple-stock-before-wwdc><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>On June 7, Apple will host its annual WWDC event – as a virtual conference, just like 2020. The Apple Maven looked back at recent history to see how AAPL stock behaved around these events.\nApple’s ...</p>\n\n<a href=\"https://www.thestreet.com/apple/stock/should-you-buy-apple-stock-before-wwdc\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/stock/should-you-buy-apple-stock-before-wwdc","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158897173","content_text":"On June 7, Apple will host its annual WWDC event – as a virtual conference, just like 2020. The Apple Maven looked back at recent history to see how AAPL stock behaved around these events.\nApple’s WWDC is just around the corner. The Cupertino company will virtually host the 32nd Worldwide Developers Conference, starting June 7. Rumor has it that Apple will announce five new software updates, including iOS 15 and macOS 12. Also, new hardware could be unveiled, but these announcements tend to be rare during the developers’ conference.\nToday, the Apple Maven looks back at the most recent WWDC events to check how the stock behaved prior to and immediately after the conference.\nBefore we dive in…\nKeep in mind that the Apple Maven will cover the event via live blog, starting at 9:45 a.m. Cupertino time (PDT), on June 7. Tune in to follow our analysis of Apple's WWDC presentation!\nFigure 1: Apple's 2021 WWDC.\nWWDC 2017: Apple stock hiccups\nThe 2017 edition of WWDC took place between June 5 and June 9, 2017. At that time, three software updates were announced: the iOS 11, macOS High Sierra and tvOS. Also, hardware updates were unveiled, including the Mac, iPad and HomePod.\nLooking at the performance of Apple shares a week before until the end of the event, AAPL investors did not show much enthusiasm. The stock moved 3% lower, trading at that time at $37.\nFigure 2: AAPL 2017 chart.\nWWDC 2018: modest climb\nIn 2018, WWDC was held from June 4 to June 8. iOS 12 was announced, and so were software updates for Mac and Watch. This time, there were no hardware announcements.\nFigure 3: AAPL 2018 chart.\nFrom one week prior until the end of the event, WWDC 2018 may have brought optimism to investors, as shares climbed by 2%, trading at that time at nearly $48.\nWWDC 2019: the start of the ramp\nThe 2019 conference was held from June 3 to June 7. iOS 13 and other software updates were announced for the Mac, Watch, TV and iPad. Apple also launched hardware updates on Mac.\nApple stock behaved well, rising nearly 7% from a week before to the end of the event. In 2019, WWDC coincided with the beginning of a massive climb in AAPL share price that lasted until the end of the year.\nFigure 4: AAPL 2019 chart.\nWWDC 2020: riding the recovery\nFor the first time, the 2020 version of WWDC was held online because of the COVID-19 pandemic. The conference happened from June 22 to June 26. At that time, iOS 14 was announced, alongside iPad, Watch, TV and Mac software updates.The highlight of the event was the announced transition to custom ARM processors for Mac.\nThe stock was rebounding from the COVID-19 stock market crash at that time. Looking back at the period between a week prior to and the end of the event, shares were up 3%.\nFigure 5: AAPL 2020 chart.\nWhat history suggests\nIt is hard to predict how Apple stock will behave in the near future. However, looking back at history, we can draw a few conclusions about AAPL share price behavior around WWDC in the last 5 years.\nExcept for the 2017 conference, Apple caught an updraft around the WWDC weeks. Whether the performance is related to the event itself is a matter of interpretation.\nWhat to expect of WWDC 2021\nFor this year’s WWDC, Apple will likely release the usual software updates. For investors, possible updates on the products and services front would be most meaningful.\nA possible successor for the M1 chip, a 27-inc Mac, a new MacBook Pro, updates on AR and VR technology and even hints about the Apple Car would certainly be highlights. Any of these potential developments, even if unlikely to happen, could give an extra impulse for Apple shares in the short- and mid-terms.","news_type":1},"isVote":1,"tweetType":1,"viewCount":192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112657622,"gmtCreate":1622868469266,"gmtModify":1704192778368,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"A good growth stock?","listText":"A good growth stock?","text":"A good growth stock?","images":[{"img":"https://static.tigerbbs.com/50b5035604149aec6090dcf23f04334c","width":"1440","height":"4105"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/112657622","isVote":1,"tweetType":1,"viewCount":229,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":116844379,"gmtCreate":1622792911391,"gmtModify":1704191274522,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"That's good! Fintech sector will be one of the few drivers to drive the Singapore economy in the future!","listText":"That's good! Fintech sector will be one of the few drivers to drive the Singapore economy in the future!","text":"That's good! Fintech sector will be one of the few drivers to drive the Singapore economy in the future!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/116844379","repostId":"1142022628","repostType":4,"repost":{"id":"1142022628","pubTimestamp":1622792200,"share":"https://ttm.financial/m/news/1142022628?lang=&edition=fundamental","pubTime":"2021-06-04 15:36","market":"sg","language":"en","title":"Singapore’s Fintech Honcho Has Vision of Asian Silicon Valley","url":"https://stock-news.laohu8.com/highlight/detail?id=1142022628","media":"Bloomberg","summary":"Fintech investments in the city-state have soared since 2014\nMohanty also discusses cross-border pay","content":"<ul>\n <li>Fintech investments in the city-state have soared since 2014</li>\n <li>Mohanty also discusses cross-border payments, cryptocurrencies</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/25bfb8e09987ebe673b3dde62422a246\" tg-width=\"2000\" tg-height=\"1333\"><span>Sopnendu Mohanty Photographer: Paul Miller/Bloomberg</span></p>\n<p>Singapore sees more investments pouring into financial technology firms this year as the city-state seeks to become a regional hub for capital raising in areas from payments to robo-advisory, according to a top central bank official.</p>\n<p>Such investments have risen from around $20 million in 2014 to a record $1.1 billion last year, and more is expected this year, Sopnendu Mohanty, the Monetary Authority of Singapore’s chief fintech officer, said in an interview.</p>\n<p>“We don’t have Silicon Valley, but we are trying our best,” he said. The environment the country is building enables these fintech players to “find opportunities to see if their early ideas translate into real value in the long run.”</p>\n<p>Mohanty, who&nbsp;spent17 years at Citigroup Inc. before taking the position at the central bank in 2015, is in the fintech role at a time when the industry is fast evolving. The MAS’ aspirations are central to Singapore’s aim to fortify its position as a global financial center where incumbent banks and contesting tech firms compete to provide services to consumers and corporates, though it is also a gatekeeper of standards as companies roll out their businesses.</p>\n<p>Mohanty has been involved with efforts like&nbsp;Partior, the joint venture between JPMorgan Chase &amp; Co., Temasek Holdings Pte. and DBS Group Holdings Ltd., that’s a new&nbsp;blockchain-based platform&nbsp;for payments, trade and foreign-exchange settlement. He is also keen to expand a cross-border payments infrastructure, that has&nbsp;kicked off&nbsp;with Thailand allowing people in both countries to almost immediately move money via their mobile phones through government-backed systems.</p>\n<p><b>Money Transfers, Licenses</b></p>\n<p>With the Thailand link now established, India is a focus, Mohanty said. Other countries in Southeast Asia like Malaysia and Indonesia may follow, as well as countries further afield like Africa.</p>\n<p>“WehopeIndia comes into this platform within next year,” he said. “If we can connect our system with India’s -- we have done a huge test of our system -- wehopeother countries will also follow onto this platform.”</p>\n<p>Meanwhile, the MAS is still processing the applications of companies seeking&nbsp;licenses&nbsp;to operate services in payments and crypto exchanges in the city, Mohanty said. These companies have been operating under a grace period since the regulator made the new Payment Services Act effective in January 2020. More than 300 have applied, and the MAS is reviewing how best to speed up the process as well as balance between encouraging entrepreneurship and regulation, according to a Singapore minister in January this year.</p>\n<p>Among the prominent firms&nbsp;seeking&nbsp;the MAS licenses are entities of Alibaba Group Holdings Ltd. and Ant Group, Binance Holdings Ltd., as well as Alphabet Inc.</p>\n<p>“Giving licences to somebody is a premium, it is not something to be taken lightly.” Mohanty said, without giving a timeline for when the first license would be issued. “We are ensuring that whoever gets an MAS license will be credible.”</p>\n<p>Here are other comments from Mohanty during the interview:</p>\n<p><b>Central Bank Digital Currencies</b></p>\n<p>Central bank digital currencies have become an issue of focus as China advances with its digital yuan, which is in the testing phase. They’re usually in one of two categories, either a retail CBDC that’s held directly by citizens and companies, or a wholesale CBDC that’s restricted to financial institutions and is primarily for interbank payments and financial settlement.</p>\n<p>Singapore was ranked&nbsp;number three&nbsp;in a PwC index released in April that measures progress of interbank/wholesale CBDCs. Retail, like the one China is planning, is a different story, though, according to Mohanty.</p>\n<p>“In the Singapore context, it is not obvious that a retail central bank digital currency would be useful because today, you can already send money to each other at zero cost and with a few clicks. What can you do better than that?”</p>\n<p><b>Bitcoin and Cryptocurrencies</b></p>\n<p>Singapore and its private sector have taken steps to bolster its presence in cryptocurrencies, from the Singapore Exchange Ltd. moves to become Asia’s&nbsp;pricing hub&nbsp;for Bitcoin and Ether to DBS Private Bank starting Asia’s first bank-backed&nbsp;trust solution&nbsp;for crypto. At the same time however, the government&nbsp;has&nbsp;repeatedly warned its citizens about the risks of trading crypto like Bitcoin.</p>\n<p>“I haven’t touched Bitcoin till now. It’s a speculative asset,” Mohanty said. “It’s common sense that nobody should indulge in assets they don’t understand. It’s so volatile and it’s so complex. MAS is doing a lot of work through parliament speeches and messages to tell people to be careful. And if people still go out and buy such risky assets, it is their choice.”</p>\n<p>However, he added that in terms of exchanges, “we know that the world is moving to digital currencies – so, CBDCs and stablecoins and all these other things.”</p>\n<p>“The first thing which is getting institutionalized are the exchanges. The common platform, like Partior, they are becoming the backbone. And once this backbone gets created, then the transactions flow through this backbone and eventually becomes more mainstream. There is a value to this shift in how you think about payments and currencies.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore’s Fintech Honcho Has Vision of Asian Silicon Valley</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\">\nSingapore’s Fintech Honcho Has Vision of Asian Silicon Valley\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 15:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-04/singapore-s-fintech-honcho-has-vision-of-asian-silicon-valley?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Fintech investments in the city-state have soared since 2014\nMohanty also discusses cross-border payments, cryptocurrencies\n\nSopnendu Mohanty Photographer: Paul Miller/Bloomberg\nSingapore sees more ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-04/singapore-s-fintech-honcho-has-vision-of-asian-silicon-valley?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-04/singapore-s-fintech-honcho-has-vision-of-asian-silicon-valley?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142022628","content_text":"Fintech investments in the city-state have soared since 2014\nMohanty also discusses cross-border payments, cryptocurrencies\n\nSopnendu Mohanty Photographer: Paul Miller/Bloomberg\nSingapore sees more investments pouring into financial technology firms this year as the city-state seeks to become a regional hub for capital raising in areas from payments to robo-advisory, according to a top central bank official.\nSuch investments have risen from around $20 million in 2014 to a record $1.1 billion last year, and more is expected this year, Sopnendu Mohanty, the Monetary Authority of Singapore’s chief fintech officer, said in an interview.\n“We don’t have Silicon Valley, but we are trying our best,” he said. The environment the country is building enables these fintech players to “find opportunities to see if their early ideas translate into real value in the long run.”\nMohanty, who spent17 years at Citigroup Inc. before taking the position at the central bank in 2015, is in the fintech role at a time when the industry is fast evolving. The MAS’ aspirations are central to Singapore’s aim to fortify its position as a global financial center where incumbent banks and contesting tech firms compete to provide services to consumers and corporates, though it is also a gatekeeper of standards as companies roll out their businesses.\nMohanty has been involved with efforts like Partior, the joint venture between JPMorgan Chase & Co., Temasek Holdings Pte. and DBS Group Holdings Ltd., that’s a new blockchain-based platform for payments, trade and foreign-exchange settlement. He is also keen to expand a cross-border payments infrastructure, that has kicked off with Thailand allowing people in both countries to almost immediately move money via their mobile phones through government-backed systems.\nMoney Transfers, Licenses\nWith the Thailand link now established, India is a focus, Mohanty said. Other countries in Southeast Asia like Malaysia and Indonesia may follow, as well as countries further afield like Africa.\n“WehopeIndia comes into this platform within next year,” he said. “If we can connect our system with India’s -- we have done a huge test of our system -- wehopeother countries will also follow onto this platform.”\nMeanwhile, the MAS is still processing the applications of companies seeking licenses to operate services in payments and crypto exchanges in the city, Mohanty said. These companies have been operating under a grace period since the regulator made the new Payment Services Act effective in January 2020. More than 300 have applied, and the MAS is reviewing how best to speed up the process as well as balance between encouraging entrepreneurship and regulation, according to a Singapore minister in January this year.\nAmong the prominent firms seeking the MAS licenses are entities of Alibaba Group Holdings Ltd. and Ant Group, Binance Holdings Ltd., as well as Alphabet Inc.\n“Giving licences to somebody is a premium, it is not something to be taken lightly.” Mohanty said, without giving a timeline for when the first license would be issued. “We are ensuring that whoever gets an MAS license will be credible.”\nHere are other comments from Mohanty during the interview:\nCentral Bank Digital Currencies\nCentral bank digital currencies have become an issue of focus as China advances with its digital yuan, which is in the testing phase. They’re usually in one of two categories, either a retail CBDC that’s held directly by citizens and companies, or a wholesale CBDC that’s restricted to financial institutions and is primarily for interbank payments and financial settlement.\nSingapore was ranked number three in a PwC index released in April that measures progress of interbank/wholesale CBDCs. Retail, like the one China is planning, is a different story, though, according to Mohanty.\n“In the Singapore context, it is not obvious that a retail central bank digital currency would be useful because today, you can already send money to each other at zero cost and with a few clicks. What can you do better than that?”\nBitcoin and Cryptocurrencies\nSingapore and its private sector have taken steps to bolster its presence in cryptocurrencies, from the Singapore Exchange Ltd. moves to become Asia’s pricing hub for Bitcoin and Ether to DBS Private Bank starting Asia’s first bank-backed trust solution for crypto. At the same time however, the government has repeatedly warned its citizens about the risks of trading crypto like Bitcoin.\n“I haven’t touched Bitcoin till now. It’s a speculative asset,” Mohanty said. “It’s common sense that nobody should indulge in assets they don’t understand. It’s so volatile and it’s so complex. MAS is doing a lot of work through parliament speeches and messages to tell people to be careful. And if people still go out and buy such risky assets, it is their choice.”\nHowever, he added that in terms of exchanges, “we know that the world is moving to digital currencies – so, CBDCs and stablecoins and all these other things.”\n“The first thing which is getting institutionalized are the exchanges. The common platform, like Partior, they are becoming the backbone. And once this backbone gets created, then the transactions flow through this backbone and eventually becomes more mainstream. There is a value to this shift in how you think about payments and currencies.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":377,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116807369,"gmtCreate":1622785241651,"gmtModify":1704191165061,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"I think technology and semiconductor stocks have a huge potential to grow more with the trend on digitalisation and push to adopt green technology solutions.","listText":"I think technology and semiconductor stocks have a huge potential to grow more with the trend on digitalisation and push to adopt green technology solutions.","text":"I think technology and semiconductor stocks have a huge potential to grow more with the trend on digitalisation and push to adopt green technology solutions.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116807369","repostId":"2140617694","repostType":2,"repost":{"id":"2140617694","pubTimestamp":1622560398,"share":"https://ttm.financial/m/news/2140617694?lang=&edition=fundamental","pubTime":"2021-06-01 23:13","market":"us","language":"en","title":"The Top 50 Robinhood Stocks in June","url":"https://stock-news.laohu8.com/highlight/detail?id=2140617694","media":"Motley Fool","summary":"Millennial investors can't stop buying into these companies.","content":"<p>Volatility is always present in the stock market, but it's been especially prominent since February 2020. Though patience has, once again, paid off for investors, their gains have come after the benchmark <b>S&amp;P 500</b> lost 34% of its value in less than five weeks during the first quarter of 2020.</p>\n<p>Some investors absolutely shy away when heightened volatility rears its head. But that's not what we've witnessed from retail investors.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/99b3853458b2424e2901821012f5502f\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<p>Even though retail investors have been putting their money to work on Wall Street for more than a century, they used the wild volatility on Wall Street over the past 16 months as their cue to really ramp up their buying. How do we know this? Just take a look at online investing app Robinhood, which gained approximately 3 million new users last year.</p>\n<p>Millennial investors have found a home at Robinhood for a bevy of reasons. The app doesn't charge commissions for buying or selling on major exchanges, and it allows fractional shares&nbsp;for a number of securities. The company even awards new members with free shares of stock.</p>\n<p>While it's fantastic to see young investors putting their money to work in the greatest wealth creator on the planet, it's also disturbing to see what they've been buying. Instead of taking the tried-and-true long-term investing approach, many are chasing momentum plays, penny stocks, and companies with poor operating performance.</p>\n<p>Don't believe me? Here are the 50 most-held stocks on Robinhood's leaderboard as we enter June:</p>\n<table width=\"492\">\n <thead>\n  <tr>\n   <th>Company</th>\n   <th>Company</th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td>1. <b>Tesla </b>(NASDAQ:TSLA)</td>\n   <td>26. <b>OrganiGram Holdings</b></td>\n  </tr>\n  <tr>\n   <td>2. <b>Apple&nbsp;</b></td>\n   <td>27. <b>Bank of America</b></td>\n  </tr>\n  <tr>\n   <td>3. <b>AMC Entertainment Holdings</b> (NYSE:AMC)</td>\n   <td>28. <b>Coinbase Global</b></td>\n  </tr>\n  <tr>\n   <td>4. <b>Sundial Growers</b> (NASDAQ:SNDL)</td>\n   <td>29. <b>Tilray</b></td>\n  </tr>\n  <tr>\n   <td>5. <b>Ford Motor</b></td>\n   <td>30. <b><a href=\"https://laohu8.com/S/FB\">Facebook</a></b></td>\n  </tr>\n  <tr>\n   <td>6. <b>General Electric</b></td>\n   <td>31. <b>Canopy Growth</b> (NASDAQ:CGC)</td>\n  </tr>\n  <tr>\n   <td>7. <b>NIO&nbsp;</b></td>\n   <td>32. <b>Advanced Micro Devices</b></td>\n  </tr>\n  <tr>\n   <td>8. <b>Walt Disney</b></td>\n   <td>33. <b><a href=\"https://laohu8.com/S/TWTR\">Twitter</a></b></td>\n  </tr>\n  <tr>\n   <td>9. <b>Microsoft</b></td>\n   <td>34. <b>Starbucks</b> (NASDAQ:SBUX)</td>\n  </tr>\n  <tr>\n   <td>10. <b>Amazon&nbsp;</b></td>\n   <td>35. <b>Moderna</b></td>\n  </tr>\n  <tr>\n   <td>11. <b>American Airlines Group</b></td>\n   <td>36. <b>AT&amp;T</b></td>\n  </tr>\n  <tr>\n   <td>12. <b>Plug Power</b></td>\n   <td>37. <b>FuelCell Energy</b></td>\n  </tr>\n  <tr>\n   <td>13. <b>Nokia&nbsp;</b></td>\n   <td>38. <b>Virgin Galactic Holdings&nbsp;</b></td>\n  </tr>\n  <tr>\n   <td>14. <b>Pfizer&nbsp;</b></td>\n   <td>39. <b>Ideanomics&nbsp;</b></td>\n  </tr>\n  <tr>\n   <td>15. <b>Aurora Cannabis</b> (NASDAQ:ACB)</td>\n   <td>40. <b>Norwegian Cruise Line Holdings</b></td>\n  </tr>\n  <tr>\n   <td>16. <b>Carnival</b></td>\n   <td>41. <b>Vanguard S&amp;P 500 ETF</b></td>\n  </tr>\n  <tr>\n   <td>17. <b>GameStop</b> (NYSE:GME)</td>\n   <td>42. <b>Coca-Cola</b></td>\n  </tr>\n  <tr>\n   <td>18. <b>Zomedica</b> (NYSEMKT:ZOM)</td>\n   <td>43. <b>General Motors</b></td>\n  </tr>\n  <tr>\n   <td>19. <b><a href=\"https://laohu8.com/S/GPRO\">GoPro</a>&nbsp;</b></td>\n   <td>44. <b>NVIDIA</b></td>\n  </tr>\n  <tr>\n   <td>20. <b>Palantir Technologies</b></td>\n   <td>45. <b>SPDR S&amp;P 500 ETF</b></td>\n  </tr>\n  <tr>\n   <td>21. <b><a href=\"https://laohu8.com/S/CCC.U\">Churchill Capital</a></b></td>\n   <td>46. <b>United Airlines Holdings</b></td>\n  </tr>\n  <tr>\n   <td>22. <b>Delta Air Lines</b></td>\n   <td>47. <b>Uber Technologies</b></td>\n  </tr>\n  <tr>\n   <td>23. <b>Snap&nbsp;</b></td>\n   <td>48. <b><a href=\"https://laohu8.com/S/ZNGA\">Zynga</a></b></td>\n  </tr>\n  <tr>\n   <td>24. <b>Netflix&nbsp;</b></td>\n   <td>49. <b>Boeing</b></td>\n  </tr>\n  <tr>\n   <td>25. <b>Alibaba Group Holding</b></td>\n   <td>50. <b>Workhorse Group</b></td>\n  </tr>\n </tbody>\n</table>\n<p>Data source: Robinhood, as of May 28, 2021.</p>\n<h2>Meme-mania doesn't stop</h2>\n<p>With retail investors acting as the catalyst behind the meme stock craze (meme stocks are companies lauded for their social media popularity, not their fundamentals), it should come as no surprise that companies like AMC Entertainment, GameStop, and Sundial Growers are among the most-held on Robinhood.</p>\n<p>AMC, GameStop, and Sundial were some of the most heavily short-sold companies earlier this year, which made them logical targets by investors on Reddit who were looking for short-squeeze opportunities. Though we witnessed these squeezes take place in January and February, the recent trading in these names looks to be more hype or mania than short-covering.</p>\n<p>History is pretty clear that hype-driven stocks will eventually have the rug pulled out from under them. AMC, for example, is going to struggle just to service its more than $5.4 billion in corporate debt and doesn't appear to have a chance to pay back what comes due in 2026. It also has $473 million in deferred rent obligations to contend with.</p>\n<p>As for GameStop, it boasts a healthy net cash position following a recent share offering. But it was very late in transitioning to digital gaming, and as a result will see its sales go nowhere for years to come. GameStop's core strategy for the time being is to keep closing physical stores to cut down on operating expenses.</p>\n<p>In sum, meme stocks are bad news.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/86c5f70d97c3ea9f633e0f2dbad565ba\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Penny for your thoughts</h2>\n<p>Robinhood investors have also demonstrated that they love penny stocks. Sundial Growers and Zomedica are two of the 18 most-held stocks on the platform, yet both can be purchased for under $1 a share.</p>\n<p>Psychologically, young and/or novice investors believe that owning more shares of stock will give them a better chance to make a lot of money. There's also the belief that it's easier to double a stock from $1 a share to $2 than, say, $100 to $200. But the reality is that penny stocks almost always trade at a low share price for very good reasons.</p>\n<p>In the case of pot stock Sundial Growers, it's because the company's management team can't stop drowning its investors in share offerings. Earlier this year, the company's board OK'd an additional $800 million at-the-market share offering. Since the end of September, more than 1.35 billion shares have been issued. With 1.86 billion shares now outstanding, Sundial has almost no chance of ever generating meaningful earnings per share, or perhaps even remaining listed on the <b>Nasdaq</b>&nbsp;exchange.</p>\n<p>As for veterinary health company Zomedica, it only began commercializing its first product in mid-March. Shares are currently valued at close to 40 times sales looking three years into the future. Though it does have a healthy cash position, Zomedica has buried its investors with share offerings and is closing in on 1 billion shares outstanding.</p>\n<p>Penny stocks are rarely cheap.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5811406aed4001edc942cb25310a21cf\" tg-width=\"700\" tg-height=\"467\"><span>Image source: Getty Images.</span></p>\n<h2>\"Merry-juana\"</h2>\n<p>Another trend you'll note about millennial investors is that they really love the prospects for marijuana stocks. In this respect, I agree with them.</p>\n<p>Unfortunately, Robinhood is shortchanging its users in the cannabis department. Since the trading platform won't allow its users to buy and sell stocks listed on the over-the-counter exchange, and U.S. pot stocks can't list on major exchanges due to cannabis being illicit at the federal level, Robinhood users are stuck buying Canadian weed stocks. To put things as nicely as possible, the Canadian pot stocks have been a disaster.</p>\n<p>Aurora Cannabis, which at <a href=\"https://laohu8.com/S/AONE\">one</a> time was the most-held stock on Robinhood, has been burying its shareholders in dilution for years. It used its stock as collateral for around a dozen deals and grossly overpaid for all of its acquisitions. Even with legal Canadian weed sales climbing, Aurora's top line has been stuck in neutral or gone in reverse.</p>\n<p>Canopy Growth is another popular marijuana stock that's been an utter disappointment. The company's cash pile has dwindled significantly over the past couple of years, and Canopy is still nowhere close to generating a profit, even after closing two large greenhouses in British Columbia.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/11b7b594784b441dbeb82fcdb187aac3\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Starbucks.</span></p>\n<h2>Brand-name companies are popular with millennials</h2>\n<p>Lastly, you'll note that among the meme stocks, pot stocks, and penny stocks, millennial investors have also piled into brand-name companies that they're familiar with or regularly engage with.</p>\n<p>For instance, electric-vehicle (EV) manufacturer Tesla has supplanted Apple as the most-held stock in the Robinhood universe. Generally speaking, the desire to take action against climate change increases the younger someone is. Motivated young investors who want to see positive climate action taken, and who have a favorable view of CEO Elon Musk, have flocked to Tesla. In kind, Tesla's production numbers have risen significantly, and could near 800,000 EVs in 2021.</p>\n<p>Coffee giant Starbucks has also been rising up the leaderboard in recent months. It has used its mobile app and rewards as a means to keep the younger generation loyal to its brand. It has also introduced an array of healthier lunches and snack options to improve foot traffic. It definitely doesn't hurt that Starbucks is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most-recognized brands in the world.</p>\n<p>Brand-name companies that can engage with young investors are always a good bet to work their way onto Robinhood's leaderboard.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Top 50 Robinhood Stocks in June</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Top 50 Robinhood Stocks in June\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-01 23:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/01/the-top-50-robinhood-stocks-in-june/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Volatility is always present in the stock market, but it's been especially prominent since February 2020. Though patience has, once again, paid off for investors, their gains have come after the ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/01/the-top-50-robinhood-stocks-in-june/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NOK":"诺基亚","UBER":"优步","UAL":"联合大陆航空","WKHS":"Workhorse Group, Inc.","SBUX":"星巴克","AAL":"美国航空","MRNA":"Moderna, Inc.","TWTR":"Twitter","T":"美国电话电报","BABA":"阿里巴巴","AAPL":"苹果","F":"福特汽车","PLUG":"普拉格能源","AMD":"美国超微公司","MSFT":"微软","DAL":"达美航空","NVDA":"英伟达","GME":"游戏驿站","NIO":"蔚来","GM":"通用汽车","SPCE":"维珍银河","CGC":"Canopy Growth Corporation","DIS":"迪士尼","TLRY":"Tilray Inc.","ZOM":"Zomedica Pharmaceuticals Corp.","AMC":"AMC院线","CCL":"嘉年华邮轮","ACB":"奥罗拉大麻公司","BAC":"美国银行","TSLA":"特斯拉","SNAP":"Snap Inc","COIN":"Coinbase Global, Inc.","PFE":"辉瑞","NFLX":"奈飞","FCEL":"燃料电池能源","GPRO":"GoPro","GE":"GE航空航天","PLTR":"Palantir Technologies Inc.","BA":"波音","KO":"可口可乐","OGI":"ORGANIGRAM HOLD","SNDL":"SNDL Inc."},"source_url":"https://www.fool.com/investing/2021/06/01/the-top-50-robinhood-stocks-in-june/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2140617694","content_text":"Volatility is always present in the stock market, but it's been especially prominent since February 2020. Though patience has, once again, paid off for investors, their gains have come after the benchmark S&P 500 lost 34% of its value in less than five weeks during the first quarter of 2020.\nSome investors absolutely shy away when heightened volatility rears its head. But that's not what we've witnessed from retail investors.\nImage source: Getty Images.\nEven though retail investors have been putting their money to work on Wall Street for more than a century, they used the wild volatility on Wall Street over the past 16 months as their cue to really ramp up their buying. How do we know this? Just take a look at online investing app Robinhood, which gained approximately 3 million new users last year.\nMillennial investors have found a home at Robinhood for a bevy of reasons. The app doesn't charge commissions for buying or selling on major exchanges, and it allows fractional shares for a number of securities. The company even awards new members with free shares of stock.\nWhile it's fantastic to see young investors putting their money to work in the greatest wealth creator on the planet, it's also disturbing to see what they've been buying. Instead of taking the tried-and-true long-term investing approach, many are chasing momentum plays, penny stocks, and companies with poor operating performance.\nDon't believe me? Here are the 50 most-held stocks on Robinhood's leaderboard as we enter June:\n\n\n\nCompany\nCompany\n\n\n\n\n1. Tesla (NASDAQ:TSLA)\n26. OrganiGram Holdings\n\n\n2. Apple \n27. Bank of America\n\n\n3. AMC Entertainment Holdings (NYSE:AMC)\n28. Coinbase Global\n\n\n4. Sundial Growers (NASDAQ:SNDL)\n29. Tilray\n\n\n5. Ford Motor\n30. Facebook\n\n\n6. General Electric\n31. Canopy Growth (NASDAQ:CGC)\n\n\n7. NIO \n32. Advanced Micro Devices\n\n\n8. Walt Disney\n33. Twitter\n\n\n9. Microsoft\n34. Starbucks (NASDAQ:SBUX)\n\n\n10. Amazon \n35. Moderna\n\n\n11. American Airlines Group\n36. AT&T\n\n\n12. Plug Power\n37. FuelCell Energy\n\n\n13. Nokia \n38. Virgin Galactic Holdings \n\n\n14. Pfizer \n39. Ideanomics \n\n\n15. Aurora Cannabis (NASDAQ:ACB)\n40. Norwegian Cruise Line Holdings\n\n\n16. Carnival\n41. Vanguard S&P 500 ETF\n\n\n17. GameStop (NYSE:GME)\n42. Coca-Cola\n\n\n18. Zomedica (NYSEMKT:ZOM)\n43. General Motors\n\n\n19. GoPro \n44. NVIDIA\n\n\n20. Palantir Technologies\n45. SPDR S&P 500 ETF\n\n\n21. Churchill Capital\n46. United Airlines Holdings\n\n\n22. Delta Air Lines\n47. Uber Technologies\n\n\n23. Snap \n48. Zynga\n\n\n24. Netflix \n49. Boeing\n\n\n25. Alibaba Group Holding\n50. Workhorse Group\n\n\n\nData source: Robinhood, as of May 28, 2021.\nMeme-mania doesn't stop\nWith retail investors acting as the catalyst behind the meme stock craze (meme stocks are companies lauded for their social media popularity, not their fundamentals), it should come as no surprise that companies like AMC Entertainment, GameStop, and Sundial Growers are among the most-held on Robinhood.\nAMC, GameStop, and Sundial were some of the most heavily short-sold companies earlier this year, which made them logical targets by investors on Reddit who were looking for short-squeeze opportunities. Though we witnessed these squeezes take place in January and February, the recent trading in these names looks to be more hype or mania than short-covering.\nHistory is pretty clear that hype-driven stocks will eventually have the rug pulled out from under them. AMC, for example, is going to struggle just to service its more than $5.4 billion in corporate debt and doesn't appear to have a chance to pay back what comes due in 2026. It also has $473 million in deferred rent obligations to contend with.\nAs for GameStop, it boasts a healthy net cash position following a recent share offering. But it was very late in transitioning to digital gaming, and as a result will see its sales go nowhere for years to come. GameStop's core strategy for the time being is to keep closing physical stores to cut down on operating expenses.\nIn sum, meme stocks are bad news.\nImage source: Getty Images.\nPenny for your thoughts\nRobinhood investors have also demonstrated that they love penny stocks. Sundial Growers and Zomedica are two of the 18 most-held stocks on the platform, yet both can be purchased for under $1 a share.\nPsychologically, young and/or novice investors believe that owning more shares of stock will give them a better chance to make a lot of money. There's also the belief that it's easier to double a stock from $1 a share to $2 than, say, $100 to $200. But the reality is that penny stocks almost always trade at a low share price for very good reasons.\nIn the case of pot stock Sundial Growers, it's because the company's management team can't stop drowning its investors in share offerings. Earlier this year, the company's board OK'd an additional $800 million at-the-market share offering. Since the end of September, more than 1.35 billion shares have been issued. With 1.86 billion shares now outstanding, Sundial has almost no chance of ever generating meaningful earnings per share, or perhaps even remaining listed on the Nasdaq exchange.\nAs for veterinary health company Zomedica, it only began commercializing its first product in mid-March. Shares are currently valued at close to 40 times sales looking three years into the future. Though it does have a healthy cash position, Zomedica has buried its investors with share offerings and is closing in on 1 billion shares outstanding.\nPenny stocks are rarely cheap.\nImage source: Getty Images.\n\"Merry-juana\"\nAnother trend you'll note about millennial investors is that they really love the prospects for marijuana stocks. In this respect, I agree with them.\nUnfortunately, Robinhood is shortchanging its users in the cannabis department. Since the trading platform won't allow its users to buy and sell stocks listed on the over-the-counter exchange, and U.S. pot stocks can't list on major exchanges due to cannabis being illicit at the federal level, Robinhood users are stuck buying Canadian weed stocks. To put things as nicely as possible, the Canadian pot stocks have been a disaster.\nAurora Cannabis, which at one time was the most-held stock on Robinhood, has been burying its shareholders in dilution for years. It used its stock as collateral for around a dozen deals and grossly overpaid for all of its acquisitions. Even with legal Canadian weed sales climbing, Aurora's top line has been stuck in neutral or gone in reverse.\nCanopy Growth is another popular marijuana stock that's been an utter disappointment. The company's cash pile has dwindled significantly over the past couple of years, and Canopy is still nowhere close to generating a profit, even after closing two large greenhouses in British Columbia.\nImage source: Starbucks.\nBrand-name companies are popular with millennials\nLastly, you'll note that among the meme stocks, pot stocks, and penny stocks, millennial investors have also piled into brand-name companies that they're familiar with or regularly engage with.\nFor instance, electric-vehicle (EV) manufacturer Tesla has supplanted Apple as the most-held stock in the Robinhood universe. Generally speaking, the desire to take action against climate change increases the younger someone is. Motivated young investors who want to see positive climate action taken, and who have a favorable view of CEO Elon Musk, have flocked to Tesla. In kind, Tesla's production numbers have risen significantly, and could near 800,000 EVs in 2021.\nCoffee giant Starbucks has also been rising up the leaderboard in recent months. It has used its mobile app and rewards as a means to keep the younger generation loyal to its brand. It has also introduced an array of healthier lunches and snack options to improve foot traffic. It definitely doesn't hurt that Starbucks is one of the most-recognized brands in the world.\nBrand-name companies that can engage with young investors are always a good bet to work their way onto Robinhood's leaderboard.","news_type":1},"isVote":1,"tweetType":1,"viewCount":383,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116800623,"gmtCreate":1622784420562,"gmtModify":1704191153257,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"More competition, lower price!","listText":"More competition, lower price!","text":"More competition, lower price!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/116800623","repostId":"1178835590","repostType":4,"isVote":1,"tweetType":1,"viewCount":269,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116177493,"gmtCreate":1622784296912,"gmtModify":1704191151804,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"Any recommendation for good platform to buy crypto?","listText":"Any recommendation for good platform to buy crypto?","text":"Any recommendation for good platform to buy crypto?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116177493","repostId":"1178835590","repostType":4,"repost":{"id":"1178835590","pubTimestamp":1622777165,"share":"https://ttm.financial/m/news/1178835590?lang=&edition=fundamental","pubTime":"2021-06-04 11:26","market":"us","language":"en","title":"Let the crypto price wars begin, as Robinhood touts ‘commission free’ trade vs. Coinbase rivals","url":"https://stock-news.laohu8.com/highlight/detail?id=1178835590","media":"Market Wacth","summary":"Is a zero-commission war about to erupt in the crypto arena?Robinhood Markets on Thursday may have d","content":"<p>Is a zero-commission war about to erupt in the crypto arena?</p><p>Robinhood Markets on Thursday may have delivered the first shot across the bow in the trading of virtual assets, highlighting that buying and selling assets like bitcoinBTCUSD,-2.29%carries no transaction fees on its venue, pointing to fees that exist at competitors Coinbase GlobalCOIN,-2.84%and Gemini and <a href=\"https://laohu8.com/S/PYPL\">PayPal</a>’sPYPL,-1.67%Venmo.<img src=\"https://static.tigerbbs.com/90d08bb307d48763cfa28fef175b0c32\" tg-width=\"620\" tg-height=\"119\" referrerpolicy=\"no-referrer\">ROBINHOOD MARKETS</p><p>Coinbase explains its transaction fee structure&nbsp;here, noting that it also varies by region.</p><p>Robinhood makes the case that the fees aren’t insignificant in its promotion of its services, saying that “if you invested $100, you’ll pay around $3 in fees on other platforms, and could lose out on unrealized gains”</p><p>“With Robinhood Crypto, you get all of what you pay for,” writes the platform run by CEO Vladimir Tenev.</p><p>The media campaign centered on its zero-commission offerings in crypto come as Robinhood is on the cusp of becoming a public company as early as this month and views crypto as a major area of growth for the investment app that has marketed itself as a trading platform bent on democratizing investing for average folk.</p><p>Meanwhile, Coinbase reported some 56 million verified users and 6.1 million monthly active users, and $223 billion in assets. Coinbase went public in mid April and is expected to face heavy competition in the crypto that could result in fee compression for U.S.’s largest crypto platform.</p><p>Coinbase shares are down nearly 28% since its listing on the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> on April 14.</p><p>Calls and emails to the brokerages weren’t immediately returned.</p><p>Back in 2019, shares of discount brokerages plunged after <a href=\"https://laohu8.com/S/SCHW\">Charles Schwab</a> Corp. dropped commissions on U.S. stocks, exchange-traded funds and options, effectively launching a price war among retail investing arena.</p><p>Robinhood’s focus on pricing may similarly place pressures on its competitors.</p><p>However, Robinhood has received some push back from industry participants at times for taking payments for its order flow, in order to maintain its zero-commission structure.</p><p>“We receive uniform volume-based rebates from trading venues, but never consider rebates when deciding where to route your order,” Robinhood said in itsblog on Thursdayabout its no-fee crypto trading.</p>","source":"lsy1604288433698","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>Let the crypto price wars begin, as Robinhood touts ‘commission free’ trade vs. Coinbase rivals</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLet the crypto price wars begin, as Robinhood touts ‘commission free’ trade vs. Coinbase rivals\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 11:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/let-the-crypto-price-wars-begin-as-robinhood-touts-commission-free-trade-vs-coinbase-rivals-11622747424?mod=home-page><strong>Market Wacth</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Is a zero-commission war about to erupt in the crypto arena?Robinhood Markets on Thursday may have delivered the first shot across the bow in the trading of virtual assets, highlighting that buying ...</p>\n\n<a href=\"https://www.marketwatch.com/story/let-the-crypto-price-wars-begin-as-robinhood-touts-commission-free-trade-vs-coinbase-rivals-11622747424?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/let-the-crypto-price-wars-begin-as-robinhood-touts-commission-free-trade-vs-coinbase-rivals-11622747424?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178835590","content_text":"Is a zero-commission war about to erupt in the crypto arena?Robinhood Markets on Thursday may have delivered the first shot across the bow in the trading of virtual assets, highlighting that buying and selling assets like bitcoinBTCUSD,-2.29%carries no transaction fees on its venue, pointing to fees that exist at competitors Coinbase GlobalCOIN,-2.84%and Gemini and PayPal’sPYPL,-1.67%Venmo.ROBINHOOD MARKETSCoinbase explains its transaction fee structure here, noting that it also varies by region.Robinhood makes the case that the fees aren’t insignificant in its promotion of its services, saying that “if you invested $100, you’ll pay around $3 in fees on other platforms, and could lose out on unrealized gains”“With Robinhood Crypto, you get all of what you pay for,” writes the platform run by CEO Vladimir Tenev.The media campaign centered on its zero-commission offerings in crypto come as Robinhood is on the cusp of becoming a public company as early as this month and views crypto as a major area of growth for the investment app that has marketed itself as a trading platform bent on democratizing investing for average folk.Meanwhile, Coinbase reported some 56 million verified users and 6.1 million monthly active users, and $223 billion in assets. Coinbase went public in mid April and is expected to face heavy competition in the crypto that could result in fee compression for U.S.’s largest crypto platform.Coinbase shares are down nearly 28% since its listing on the Nasdaq on April 14.Calls and emails to the brokerages weren’t immediately returned.Back in 2019, shares of discount brokerages plunged after Charles Schwab Corp. dropped commissions on U.S. stocks, exchange-traded funds and options, effectively launching a price war among retail investing arena.Robinhood’s focus on pricing may similarly place pressures on its competitors.However, Robinhood has received some push back from industry participants at times for taking payments for its order flow, in order to maintain its zero-commission structure.“We receive uniform volume-based rebates from trading venues, but never consider rebates when deciding where to route your order,” Robinhood said in itsblog on Thursdayabout its no-fee crypto trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":378,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":181632001,"gmtCreate":1623388983403,"gmtModify":1704202319913,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"This is really a great write up. Reminding us of what making a&nbsp;good investment is. Growth in the long term!","listText":"This is really a great write up. Reminding us of what making a&nbsp;good investment is. Growth in the long term!","text":"This is really a great write up. Reminding us of what making a good investment is. Growth in the long term!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/181632001","repostId":"2142221222","repostType":4,"isVote":1,"tweetType":1,"viewCount":221,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187202541,"gmtCreate":1623754283383,"gmtModify":1704210589409,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"Good read!","listText":"Good read!","text":"Good read!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/187202541","repostId":"1145996523","repostType":4,"isVote":1,"tweetType":1,"viewCount":129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115199985,"gmtCreate":1622956058447,"gmtModify":1704193777738,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"I'll go for BeyondMeat. Their business can only grow with increasing&nbsp;need to feed the&nbsp;world's population with foods that are produced&nbsp;through&nbsp;carbon neutral/green solutions. But still, the acceptannce of&nbsp;people to eat food that are grown in lab&nbsp;is a big challenge for them to overcome.","listText":"I'll go for BeyondMeat. Their business can only grow with increasing&nbsp;need to feed the&nbsp;world's population with foods that are produced&nbsp;through&nbsp;carbon neutral/green solutions. But still, the acceptannce of&nbsp;people to eat food that are grown in lab&nbsp;is a big challenge for them to overcome.","text":"I'll go for BeyondMeat. Their business can only grow with increasing need to feed the world's population with foods that are produced through carbon neutral/green solutions. But still, the acceptannce of people to eat food that are grown in lab is a big challenge for them to overcome.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/115199985","repostId":"1198437149","repostType":4,"repost":{"id":"1198437149","pubTimestamp":1622946795,"share":"https://ttm.financial/m/news/1198437149?lang=&edition=fundamental","pubTime":"2021-06-06 10:33","market":"us","language":"en","title":"7 Stocks That Could Bounce Back as Inflation Worries Subside","url":"https://stock-news.laohu8.com/highlight/detail?id=1198437149","media":"InvestorPlace","summary":"If fears about inflation and interest rates are overblown, these stocks could rebound toward prior h","content":"<p>If fears about inflation and interest rates are overblown, these stocks could rebound toward prior highs</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b55e11963dc8f452076bc83cdae22253\" tg-width=\"1024\" tg-height=\"576\"><span>Source: Shutterstock</span></p>\n<p>Growth stocks had a rocky time in May, when concerns about inflation resulted in a temporary sell-off. Why did inflation chatter cause such a reaction? It’s not inflation per se that’s the worry. The possible raising of interest rates to combat inflation is the real concern.</p>\n<p>For now, the Federal Reserve is OK&nbsp;keeping rates at current levels. But, that may not be the case in 2022. So, why are possibly rising interest rates a concern for growth stocks? Simple: valuation. It’s easier to justify frothy multiples for growth stocks in a near-zero interest rate environment. Given that growth stocks are&nbsp;priced based on projected earnings down the road, rising rates further discount future cash flows, which affects present value.</p>\n<p>Yet, following the brief pullback, these fears started to cool. Admittedly, it’s too early to tell whether investors are correctly assessing the situation. As Lule Demmissie, president of Ally Invest, said in a statement provided to<i>InvestorPlace</i>, we won’t know if the inflation we’ve seen lately is “truly transitory until the end of summer.”</p>\n<p>That is, the jury’s still out whether the inflation we’ve seen in recent months is due to the U.S. economy entering recovery mode with the novel coronavirus pandemic. If inflation cools more, as things get back to the “old normal,” we may be in the clear. This could pave the way for growth stocks, hard hit as of late, rebounding, as investors rotate back into them.</p>\n<p>So, which growth stocks could rebound, if inflation worries further dissipate? These seven, still down from their highs, may be ones set to bounce back:</p>\n<ul>\n <li><b>Beyond Meat</b>(NASDAQ:<b><u>BYND</u></b>)</li>\n <li><b>DocuSign</b>(NASDAQ:<b><u>DOCU</u></b>)</li>\n <li><b>Opendoor</b>(NASDAQ:<b><u>OPEN</u></b>)</li>\n <li><b>Penn National Gaming</b>(NASDAQ:<b><u>PENN</u></b>)</li>\n <li><b>Shopify</b>(NYSE:<b><u>SHOP</u></b>)</li>\n <li><b>Skillz</b>(NYSE:<b><u>SKLZ</u></b>)</li>\n <li><b>Teladoc Health</b>(NYSE:<b><u>TDOC</u></b>)</li>\n</ul>\n<p><b>Beyond Meat (BYND)</b></p>\n<p>Sure, with&nbsp;<b>Reddit</b>&nbsp;traders squeezing it, heavily shorted BYND stock made up for all of its May losses. After falling from around $135 per share, to briefly under $100 per share, it’s bounced back above where it was at the start of last month.</p>\n<p>But, this purveyor of plant-based “meat,” which has its share of skeptics, remains down substantially from the prices it fetched for back in February (around $175 per share). Now, not all of these losses are due to concerns about rising inflation and interest rates.</p>\n<p>Underwhelming sales numbers&nbsp;over the past few quarters&nbsp;cast doubt whether this growth story will live up to expectations. Analysts still estimate that revenue will increase&nbsp;more than 50% next year, as the shift to plant-based meat alternatives continues amid environmental and health concerns. If results start to meet (or even beat) projections, we could see more than just interest from meme stock speculators again in this once-hot stock.</p>\n<p>Yet, it may take more than blockbuster results to keep shares on an upward trajectory. It may take the lifting of fears that interest rates are set to rise sharply, before the markets again feel fine with giving this still-richly priced stock (Beyond Meat trades for around 10x estimated 2022 sales) an even higher forward multiple.</p>\n<p><b>DocuSign (DOCU)</b></p>\n<p>DocuSign is just one of many fast-growing tech names that crushed it stock price-wise last year and going into this year. Between pandemic tailwinds (like the shift to remote work), and near-zero interest rates, investors bid up the e-signature solutions provider to a valuation that gives it a forward price-to-earnings (P/E) ratio in the triple digits.</p>\n<p>Since the start of the rotation out of growth stocks, DOCU stock dropped more than 30% off its highs. Yet, shares aren’t exactly cheap, as they still sport a triple-digit forward P/E ratio (154.3x). Rising interest rates could result in further contraction. Even as earnings are expected to grow at a 40%+ annualized clip over the next two years.</p>\n<p>Right now, the 2020 top performer is holding steady at around $200 per share. If interest rates rise, we could see another dramatic drop. But, if inflation and interest rate fears cool, and it becomes clear the Fed won’t sharply shift from&nbsp;dovish&nbsp;to&nbsp;hawkish&nbsp;fiscal policy, coupled with&nbsp;continued better-than-expected results, we could see shares make a move back toward their past high water mark (around $290 per share).</p>\n<p>Some may be concerned that its underlying performance, boosted by last year’s stay-at-home environment may start to wane as we return to the “old normal.” But, with a more remote office environment&nbsp;likely here to stay, growth remains on the menu for Docusign.</p>\n<p><b>Opendoor (OPEN)</b></p>\n<p>Opendoor was one of several Chamath Palihapitiya-backed SPACs (special purpose acquisition companies) hit hard by the&nbsp;SPAC wipeout. Many factors caused the beating down of blank-check stocks over the past few months. But, the&nbsp;initial inflation fears&nbsp;experienced back in February certainly played a role.</p>\n<p>Rising inflation may mean rising interest rates. And, rising interest rates impact stocks priced based on future rather than current results. And, that is what’s happened here with shares in this&nbsp;residential real estate i-buyer. Of course, the specter of rising rates could affect OPEN stock in more ways than just a contraction of its premium valuation.</p>\n<p>Supply outpacing demand is a factor in today’s&nbsp;manic housing market. But, rock bottom interest rates played a role as well. A hot market for residential homes helped Opendoor’s business, which is basically house-flipping on a massive scale. A sharp correction in this market, brought upon by a rapid rise in rates, could change this. And, not in a good way.</p>\n<p>Yet, it’s not set in stone this is how things will play out in residential real estate. As<i>InvestorPlace’s</i>Alex Sirois wrote May 27,shares may continue to trade sideways, as investors assess where housing is headed next. But, if interest rates end up not surging in the coming year, this market could see a soft landing, instead of a hard crash. That may not necessarily help boost OPEN stock (trading for around $16 per share). However, it could keep shares steady for investors buying it as a long-term “future of housing” play.</p>\n<p><b>Penn National Gaming (PENN)</b></p>\n<p>Its main business may still be brick-and-mortar casinos. But, what’s made Penn National a top performing stock since March 2020 has been its exposure to the i-gaming and online gambling megatrend.</p>\n<p>With its&nbsp;investment in&nbsp;<b>Barstool Sports</b>, and the launch of a sportsbook utilizing this brand name, investors have bet big that this company, with the customer base from its legacy business, coupled with the fan base of David Portnoy’s Barstool franchise, will become a dominant force in this fast-growing industry.</p>\n<p>However, over the past few months, shares pulled back massively from as high as $142 per share, to around $80 per share. What’s behind this? Mainly, the cool down in&nbsp;retail investor mania over this stock. The market realizes it’s going to take time for Penn National’s i-gaming unit to turn into a cash cow.</p>\n<p>So, what does this have to do with rising inflation/rising interest rates? The reassessment of growth stock valuation also affected the price of PENN stock. It likely won’t be the primary driver of a stock price rebound. But, if it becomes apparent that historically low interest rates are here to stay, investors may continue to assign this story stock a rich valuation, and could become willing once again to bid it back up to triple-digit price levels.</p>\n<p><b>Shopify (SHOP)</b></p>\n<p>It’s an understatement to say pandemic-related tailwinds for e-commerce changed the game for Shopify shares. The stock soared more than four-fold throughout the pandemic, as “stay at home” became “shop at home,” which boosted demand for this SaaS name’s e-commerce platform.</p>\n<p>But, concerns growth would slide post-pandemic, coupled with the specter of rising rates affecting valuations, helped to push down the stock from its highs (nearly $1,500 per share), down to around $1,250 per share as of this writing.</p>\n<p>Growth may be slowing down. However, even without the benefit of last year’s unique circumstances, the company still expects&nbsp;revenue to grow rapidly in 2021. Yet, even as it remains a growth story, this alone won’t save it from falling further. Trading for 284.7x forward earnings, any sort of valuation contraction caused by rising interest rates may result in another dramatic decline for shares.</p>\n<p>That being said, the fears that have impacted fast-growing tech names could continue to subside. This may bring many investors sitting on the sidelines back into SHOP stock. But, keep in mind, that, after its insane run-up last year, we may see neither a rebound or a sell-off. Instead, shares could hold steady, as markets let shares grow into their valuation.</p>\n<p><b>Skillz (SKLZ)</b></p>\n<p>It’s a stretch to blame all of the decline of SKLZ stock (more than 60% off its highs) on interest rate concerns. The mobile gaming platform,a favorite of Cathie Wood’s&nbsp;<b>ARK Invest</b>, has been hit hard by several factors.</p>\n<p>For one, the cycling out of growth stocks. Also,reports from vocal short-sellers&nbsp;casting doubt on its growth potential. To top it all off, the fast shift in sentiment for SPAC stocks such as this one. Fears of rising rates may not have been a primary driver of its share price decline. Yet, the dissipating of this concern could be something that helps the stock make an epic comeback.</p>\n<p>How so? If the overarching inflation/interest rate worries dissipate, it may encourage investors to dive back into not only large-cap growth names, but smaller growth names like this one. With a&nbsp;large percentage of its shares sold short, renewed interest in it could produce a squeeze.</p>\n<p>Granted, Skillz shares need more than just an overall cycling back into growth stocks. Company-specific factors will play a role as well. But, if the company, in upcoming quarterly results, further proves that the bears are wrongly doubting its growth, we could see fortunes quickly change for this mobile gaming play.</p>\n<p><b>Teladoc Health (TDOC)</b></p>\n<p>Rising interest rate fears aren’t the only reason why TDOC stock sold off massively (more than 50%) since February. As&nbsp;<i>InvestorPlace’s</i>&nbsp;Joel Baglole wrote May 15, concerns its&nbsp;growth will slow down post-pandemic&nbsp;was a major factor in its continued declines.</p>\n<p>Demand for telemedicine may continue to be strong, even as we are no longer operating in last year’s environment. The company’s projected growth will likely stay well in the double-digit percentage range over the next few years. But, still trading at a premium forward price-to-sales ratio (around 9.1x, based on 2022 projections), we could see more contraction, in the event rates rise, and investors reassess valuations.</p>\n<p>So, with much pointing to further losses, why consider Teladoc today? Again, it’s not a given the Fed adopts a hawkish stance in the next year. If rates stay as they are, just like with the other names listed here, investors will feel more confident diving back into richly priced growth names.</p>\n<p>Also, shares could see a boost if investors betting against this moderately-shorted&nbsp; (12.9% of its float is sold short)&nbsp; stock cover their positions. A full rebound back to $300 per share may be out of reach. But, with its still solid long-term growth prospects, shares may have room to continue trending upward, as they’ve done in the weeks following last month’s sell-off.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>7 Stocks That Could Bounce Back as Inflation Worries Subside</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\">\n7 Stocks That Could Bounce Back as Inflation Worries Subside\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-06 10:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/06/7-stocks-bounce-back-inflation-worries-subside/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If fears about inflation and interest rates are overblown, these stocks could rebound toward prior highs\nSource: Shutterstock\nGrowth stocks had a rocky time in May, when concerns about inflation ...</p>\n\n<a href=\"https://investorplace.com/2021/06/7-stocks-bounce-back-inflation-worries-subside/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DOCU":"Docusign","SHOP":"Shopify Inc","TDOC":"Teladoc Health Inc.","SKLZ":"Skillz Inc","BYND":"Beyond Meat, Inc.","OPEN":"Opendoor Technologies Inc","PENN":"佩恩国民博彩"},"source_url":"https://investorplace.com/2021/06/7-stocks-bounce-back-inflation-worries-subside/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198437149","content_text":"If fears about inflation and interest rates are overblown, these stocks could rebound toward prior highs\nSource: Shutterstock\nGrowth stocks had a rocky time in May, when concerns about inflation resulted in a temporary sell-off. Why did inflation chatter cause such a reaction? It’s not inflation per se that’s the worry. The possible raising of interest rates to combat inflation is the real concern.\nFor now, the Federal Reserve is OK keeping rates at current levels. But, that may not be the case in 2022. So, why are possibly rising interest rates a concern for growth stocks? Simple: valuation. It’s easier to justify frothy multiples for growth stocks in a near-zero interest rate environment. Given that growth stocks are priced based on projected earnings down the road, rising rates further discount future cash flows, which affects present value.\nYet, following the brief pullback, these fears started to cool. Admittedly, it’s too early to tell whether investors are correctly assessing the situation. As Lule Demmissie, president of Ally Invest, said in a statement provided toInvestorPlace, we won’t know if the inflation we’ve seen lately is “truly transitory until the end of summer.”\nThat is, the jury’s still out whether the inflation we’ve seen in recent months is due to the U.S. economy entering recovery mode with the novel coronavirus pandemic. If inflation cools more, as things get back to the “old normal,” we may be in the clear. This could pave the way for growth stocks, hard hit as of late, rebounding, as investors rotate back into them.\nSo, which growth stocks could rebound, if inflation worries further dissipate? These seven, still down from their highs, may be ones set to bounce back:\n\nBeyond Meat(NASDAQ:BYND)\nDocuSign(NASDAQ:DOCU)\nOpendoor(NASDAQ:OPEN)\nPenn National Gaming(NASDAQ:PENN)\nShopify(NYSE:SHOP)\nSkillz(NYSE:SKLZ)\nTeladoc Health(NYSE:TDOC)\n\nBeyond Meat (BYND)\nSure, with Reddit traders squeezing it, heavily shorted BYND stock made up for all of its May losses. After falling from around $135 per share, to briefly under $100 per share, it’s bounced back above where it was at the start of last month.\nBut, this purveyor of plant-based “meat,” which has its share of skeptics, remains down substantially from the prices it fetched for back in February (around $175 per share). Now, not all of these losses are due to concerns about rising inflation and interest rates.\nUnderwhelming sales numbers over the past few quarters cast doubt whether this growth story will live up to expectations. Analysts still estimate that revenue will increase more than 50% next year, as the shift to plant-based meat alternatives continues amid environmental and health concerns. If results start to meet (or even beat) projections, we could see more than just interest from meme stock speculators again in this once-hot stock.\nYet, it may take more than blockbuster results to keep shares on an upward trajectory. It may take the lifting of fears that interest rates are set to rise sharply, before the markets again feel fine with giving this still-richly priced stock (Beyond Meat trades for around 10x estimated 2022 sales) an even higher forward multiple.\nDocuSign (DOCU)\nDocuSign is just one of many fast-growing tech names that crushed it stock price-wise last year and going into this year. Between pandemic tailwinds (like the shift to remote work), and near-zero interest rates, investors bid up the e-signature solutions provider to a valuation that gives it a forward price-to-earnings (P/E) ratio in the triple digits.\nSince the start of the rotation out of growth stocks, DOCU stock dropped more than 30% off its highs. Yet, shares aren’t exactly cheap, as they still sport a triple-digit forward P/E ratio (154.3x). Rising interest rates could result in further contraction. Even as earnings are expected to grow at a 40%+ annualized clip over the next two years.\nRight now, the 2020 top performer is holding steady at around $200 per share. If interest rates rise, we could see another dramatic drop. But, if inflation and interest rate fears cool, and it becomes clear the Fed won’t sharply shift from dovish to hawkish fiscal policy, coupled with continued better-than-expected results, we could see shares make a move back toward their past high water mark (around $290 per share).\nSome may be concerned that its underlying performance, boosted by last year’s stay-at-home environment may start to wane as we return to the “old normal.” But, with a more remote office environment likely here to stay, growth remains on the menu for Docusign.\nOpendoor (OPEN)\nOpendoor was one of several Chamath Palihapitiya-backed SPACs (special purpose acquisition companies) hit hard by the SPAC wipeout. Many factors caused the beating down of blank-check stocks over the past few months. But, the initial inflation fears experienced back in February certainly played a role.\nRising inflation may mean rising interest rates. And, rising interest rates impact stocks priced based on future rather than current results. And, that is what’s happened here with shares in this residential real estate i-buyer. Of course, the specter of rising rates could affect OPEN stock in more ways than just a contraction of its premium valuation.\nSupply outpacing demand is a factor in today’s manic housing market. But, rock bottom interest rates played a role as well. A hot market for residential homes helped Opendoor’s business, which is basically house-flipping on a massive scale. A sharp correction in this market, brought upon by a rapid rise in rates, could change this. And, not in a good way.\nYet, it’s not set in stone this is how things will play out in residential real estate. AsInvestorPlace’sAlex Sirois wrote May 27,shares may continue to trade sideways, as investors assess where housing is headed next. But, if interest rates end up not surging in the coming year, this market could see a soft landing, instead of a hard crash. That may not necessarily help boost OPEN stock (trading for around $16 per share). However, it could keep shares steady for investors buying it as a long-term “future of housing” play.\nPenn National Gaming (PENN)\nIts main business may still be brick-and-mortar casinos. But, what’s made Penn National a top performing stock since March 2020 has been its exposure to the i-gaming and online gambling megatrend.\nWith its investment in Barstool Sports, and the launch of a sportsbook utilizing this brand name, investors have bet big that this company, with the customer base from its legacy business, coupled with the fan base of David Portnoy’s Barstool franchise, will become a dominant force in this fast-growing industry.\nHowever, over the past few months, shares pulled back massively from as high as $142 per share, to around $80 per share. What’s behind this? Mainly, the cool down in retail investor mania over this stock. The market realizes it’s going to take time for Penn National’s i-gaming unit to turn into a cash cow.\nSo, what does this have to do with rising inflation/rising interest rates? The reassessment of growth stock valuation also affected the price of PENN stock. It likely won’t be the primary driver of a stock price rebound. But, if it becomes apparent that historically low interest rates are here to stay, investors may continue to assign this story stock a rich valuation, and could become willing once again to bid it back up to triple-digit price levels.\nShopify (SHOP)\nIt’s an understatement to say pandemic-related tailwinds for e-commerce changed the game for Shopify shares. The stock soared more than four-fold throughout the pandemic, as “stay at home” became “shop at home,” which boosted demand for this SaaS name’s e-commerce platform.\nBut, concerns growth would slide post-pandemic, coupled with the specter of rising rates affecting valuations, helped to push down the stock from its highs (nearly $1,500 per share), down to around $1,250 per share as of this writing.\nGrowth may be slowing down. However, even without the benefit of last year’s unique circumstances, the company still expects revenue to grow rapidly in 2021. Yet, even as it remains a growth story, this alone won’t save it from falling further. Trading for 284.7x forward earnings, any sort of valuation contraction caused by rising interest rates may result in another dramatic decline for shares.\nThat being said, the fears that have impacted fast-growing tech names could continue to subside. This may bring many investors sitting on the sidelines back into SHOP stock. But, keep in mind, that, after its insane run-up last year, we may see neither a rebound or a sell-off. Instead, shares could hold steady, as markets let shares grow into their valuation.\nSkillz (SKLZ)\nIt’s a stretch to blame all of the decline of SKLZ stock (more than 60% off its highs) on interest rate concerns. The mobile gaming platform,a favorite of Cathie Wood’s ARK Invest, has been hit hard by several factors.\nFor one, the cycling out of growth stocks. Also,reports from vocal short-sellers casting doubt on its growth potential. To top it all off, the fast shift in sentiment for SPAC stocks such as this one. Fears of rising rates may not have been a primary driver of its share price decline. Yet, the dissipating of this concern could be something that helps the stock make an epic comeback.\nHow so? If the overarching inflation/interest rate worries dissipate, it may encourage investors to dive back into not only large-cap growth names, but smaller growth names like this one. With a large percentage of its shares sold short, renewed interest in it could produce a squeeze.\nGranted, Skillz shares need more than just an overall cycling back into growth stocks. Company-specific factors will play a role as well. But, if the company, in upcoming quarterly results, further proves that the bears are wrongly doubting its growth, we could see fortunes quickly change for this mobile gaming play.\nTeladoc Health (TDOC)\nRising interest rate fears aren’t the only reason why TDOC stock sold off massively (more than 50%) since February. As InvestorPlace’s Joel Baglole wrote May 15, concerns its growth will slow down post-pandemic was a major factor in its continued declines.\nDemand for telemedicine may continue to be strong, even as we are no longer operating in last year’s environment. The company’s projected growth will likely stay well in the double-digit percentage range over the next few years. But, still trading at a premium forward price-to-sales ratio (around 9.1x, based on 2022 projections), we could see more contraction, in the event rates rise, and investors reassess valuations.\nSo, with much pointing to further losses, why consider Teladoc today? Again, it’s not a given the Fed adopts a hawkish stance in the next year. If rates stay as they are, just like with the other names listed here, investors will feel more confident diving back into richly priced growth names.\nAlso, shares could see a boost if investors betting against this moderately-shorted  (12.9% of its float is sold short)  stock cover their positions. A full rebound back to $300 per share may be out of reach. But, with its still solid long-term growth prospects, shares may have room to continue trending upward, as they’ve done in the weeks following last month’s sell-off.","news_type":1},"isVote":1,"tweetType":1,"viewCount":419,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3582028884093480","authorId":"3582028884093480","name":"慢的老人","avatar":"https://static.tigerbbs.com/d8809bb976396889eb133162af0901b8","crmLevel":3,"crmLevelSwitch":1,"idStr":"3582028884093480","authorIdStr":"3582028884093480"},"content":"I think plant-based protein producers should stop using the term \"meat\" in their products. It is false advertising","text":"I think plant-based protein producers should stop using the term \"meat\" in their products. It is false advertising","html":"I think plant-based protein producers should stop using the term \"meat\" in their products. It is false advertising"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116800623,"gmtCreate":1622784420562,"gmtModify":1704191153257,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"More competition, lower price!","listText":"More competition, lower price!","text":"More competition, lower price!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/116800623","repostId":"1178835590","repostType":4,"isVote":1,"tweetType":1,"viewCount":269,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181482782,"gmtCreate":1623406999046,"gmtModify":1704202752281,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"A good semiconductor stock?","listText":"A good semiconductor stock?","text":"A good semiconductor stock?","images":[{"img":"https://static.tigerbbs.com/045970fcfea7949e1780e849f7dfb9cd","width":"1440","height":"3973"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/181482782","isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576088975090731","authorId":"3576088975090731","name":"pandaroar","avatar":"https://static.tigerbbs.com/6a89ea1d0b07ef871d4ca0666dcc1abd","crmLevel":1,"crmLevelSwitch":0,"idStr":"3576088975090731","authorIdStr":"3576088975090731"},"content":"Have not heard of them. am looking into $Lam Research(LRCX)$","text":"Have not heard of them. am looking into $Lam Research(LRCX)$","html":"Have not heard of them. am looking into $Lam Research(LRCX)$"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":117693377,"gmtCreate":1623135020599,"gmtModify":1704196787151,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"Apple doing electric car now? Seems like the electric car&nbsp;competition can only get fiercer.","listText":"Apple doing electric car now? Seems like the electric car&nbsp;competition can only get fiercer.","text":"Apple doing electric car now? Seems like the electric car competition can only get fiercer.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/117693377","repostId":"1148066206","repostType":4,"repost":{"id":"1148066206","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623132495,"share":"https://ttm.financial/m/news/1148066206?lang=&edition=fundamental","pubTime":"2021-06-08 14:08","market":"sh","language":"en","title":"Apple in talks with CATL, BYD over battery supplies for its electric car -sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1148066206","media":"Reuters","summary":"SHANGHAI/HONG KONG  - Apple Inc is in early-stage talks with China's CATL and BYD about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said.The discussions are subject to change and it is not clear if agreements with either CATL or BYD will be reached, said the people who declined to be named as the discussions are private.Apple has made building manufacturing facilities in the United States a condition for potential battery suppliers, said two","content":"<p>SHANGHAI/HONG KONG (Reuters) - Apple Inc is in early-stage talks with China's CATL and BYD about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said.</p><p>The discussions are subject to change and it is not clear if agreements with either CATL or BYD will be reached, said the people who declined to be named as the discussions are private.</p><p>Apple has made building manufacturing facilities in the United States a condition for potential battery suppliers, said two of the sources.</p><p>CATL, which supplies major car makers including Tesla Inc, is reluctant to build a U.S. factory due to political tensions between Washington and Beijing as well as cost concerns, the two people said.</p><p>It was not immediately clear if Apple is also talking to other battery makers.</p><p>Apple, which has yet to make a public announcement about its car plans, declined to comment. CATL, the world's biggest automotive battery maker, and BYD, the world's No. 4, also declined to comment.</p><p>The U.S. firm is in favor of using lithium iron phosphate batteries that are cheaper to produce because they use iron instead of nickel and cobalt which are more expensive, the four people said.</p><p>Apple has been working on self-driving technology and has targeted 2024 for the production of a passenger vehicle, Reuters reported in December.</p><p>People familiar with the matter have previously said Apple's planned EV could include its own breakthrough battery technology. It was not immediately clear if the discussions with CATL and BYD involved Apple's own technology or designs.</p><p>The discussions come at a time when the U.S. government is looking to attract more EV manufacturing. U.S. President Joe Biden's proposed $1.7 trillion infrastructure plan includes a $174 billion budget to boost the domestic EV market with tax credits and grants for battery manufacturers, among other incentives.</p><p>Many battery makers are ramping up production to meet soaring worldwide demand as car makers accelerate their shift to electric vehicles to comply with tougher emission rules aimed at tackling global warming.</p><p>Chinese battery makers are expected to grow at a faster pace than their foreign peers thanks to further expansion of the world's biggest EV market, SNE Research said in a June report.</p><p>Reuters reported last week that CATL is planning a major new automotive battery plant in Shanghai, continuing a blistering pace of expansion that will cement its lead as the world's No.1 supplier. The factory would near Tesla's China manufacturing operations.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple in talks with CATL, BYD over battery supplies for its electric car -sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple in talks with CATL, BYD over battery supplies for its electric car -sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-08 14:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SHANGHAI/HONG KONG (Reuters) - Apple Inc is in early-stage talks with China's CATL and BYD about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said.</p><p>The discussions are subject to change and it is not clear if agreements with either CATL or BYD will be reached, said the people who declined to be named as the discussions are private.</p><p>Apple has made building manufacturing facilities in the United States a condition for potential battery suppliers, said two of the sources.</p><p>CATL, which supplies major car makers including Tesla Inc, is reluctant to build a U.S. factory due to political tensions between Washington and Beijing as well as cost concerns, the two people said.</p><p>It was not immediately clear if Apple is also talking to other battery makers.</p><p>Apple, which has yet to make a public announcement about its car plans, declined to comment. CATL, the world's biggest automotive battery maker, and BYD, the world's No. 4, also declined to comment.</p><p>The U.S. firm is in favor of using lithium iron phosphate batteries that are cheaper to produce because they use iron instead of nickel and cobalt which are more expensive, the four people said.</p><p>Apple has been working on self-driving technology and has targeted 2024 for the production of a passenger vehicle, Reuters reported in December.</p><p>People familiar with the matter have previously said Apple's planned EV could include its own breakthrough battery technology. It was not immediately clear if the discussions with CATL and BYD involved Apple's own technology or designs.</p><p>The discussions come at a time when the U.S. government is looking to attract more EV manufacturing. U.S. President Joe Biden's proposed $1.7 trillion infrastructure plan includes a $174 billion budget to boost the domestic EV market with tax credits and grants for battery manufacturers, among other incentives.</p><p>Many battery makers are ramping up production to meet soaring worldwide demand as car makers accelerate their shift to electric vehicles to comply with tougher emission rules aimed at tackling global warming.</p><p>Chinese battery makers are expected to grow at a faster pace than their foreign peers thanks to further expansion of the world's biggest EV market, SNE Research said in a June report.</p><p>Reuters reported last week that CATL is planning a major new automotive battery plant in Shanghai, continuing a blistering pace of expansion that will cement its lead as the world's No.1 supplier. The factory would near Tesla's China manufacturing operations.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"300750":"宁德时代","002594":"比亚迪","AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148066206","content_text":"SHANGHAI/HONG KONG (Reuters) - Apple Inc is in early-stage talks with China's CATL and BYD about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said.The discussions are subject to change and it is not clear if agreements with either CATL or BYD will be reached, said the people who declined to be named as the discussions are private.Apple has made building manufacturing facilities in the United States a condition for potential battery suppliers, said two of the sources.CATL, which supplies major car makers including Tesla Inc, is reluctant to build a U.S. factory due to political tensions between Washington and Beijing as well as cost concerns, the two people said.It was not immediately clear if Apple is also talking to other battery makers.Apple, which has yet to make a public announcement about its car plans, declined to comment. CATL, the world's biggest automotive battery maker, and BYD, the world's No. 4, also declined to comment.The U.S. firm is in favor of using lithium iron phosphate batteries that are cheaper to produce because they use iron instead of nickel and cobalt which are more expensive, the four people said.Apple has been working on self-driving technology and has targeted 2024 for the production of a passenger vehicle, Reuters reported in December.People familiar with the matter have previously said Apple's planned EV could include its own breakthrough battery technology. It was not immediately clear if the discussions with CATL and BYD involved Apple's own technology or designs.The discussions come at a time when the U.S. government is looking to attract more EV manufacturing. U.S. President Joe Biden's proposed $1.7 trillion infrastructure plan includes a $174 billion budget to boost the domestic EV market with tax credits and grants for battery manufacturers, among other incentives.Many battery makers are ramping up production to meet soaring worldwide demand as car makers accelerate their shift to electric vehicles to comply with tougher emission rules aimed at tackling global warming.Chinese battery makers are expected to grow at a faster pace than their foreign peers thanks to further expansion of the world's biggest EV market, SNE Research said in a June report.Reuters reported last week that CATL is planning a major new automotive battery plant in Shanghai, continuing a blistering pace of expansion that will cement its lead as the world's No.1 supplier. The factory would near Tesla's China manufacturing operations.","news_type":1},"isVote":1,"tweetType":1,"viewCount":273,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116844379,"gmtCreate":1622792911391,"gmtModify":1704191274522,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"That's good! Fintech sector will be one of the few drivers to drive the Singapore economy in the future!","listText":"That's good! Fintech sector will be one of the few drivers to drive the Singapore economy in the future!","text":"That's good! Fintech sector will be one of the few drivers to drive the Singapore economy in the future!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/116844379","repostId":"1142022628","repostType":4,"repost":{"id":"1142022628","pubTimestamp":1622792200,"share":"https://ttm.financial/m/news/1142022628?lang=&edition=fundamental","pubTime":"2021-06-04 15:36","market":"sg","language":"en","title":"Singapore’s Fintech Honcho Has Vision of Asian Silicon Valley","url":"https://stock-news.laohu8.com/highlight/detail?id=1142022628","media":"Bloomberg","summary":"Fintech investments in the city-state have soared since 2014\nMohanty also discusses cross-border pay","content":"<ul>\n <li>Fintech investments in the city-state have soared since 2014</li>\n <li>Mohanty also discusses cross-border payments, cryptocurrencies</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/25bfb8e09987ebe673b3dde62422a246\" tg-width=\"2000\" tg-height=\"1333\"><span>Sopnendu Mohanty Photographer: Paul Miller/Bloomberg</span></p>\n<p>Singapore sees more investments pouring into financial technology firms this year as the city-state seeks to become a regional hub for capital raising in areas from payments to robo-advisory, according to a top central bank official.</p>\n<p>Such investments have risen from around $20 million in 2014 to a record $1.1 billion last year, and more is expected this year, Sopnendu Mohanty, the Monetary Authority of Singapore’s chief fintech officer, said in an interview.</p>\n<p>“We don’t have Silicon Valley, but we are trying our best,” he said. The environment the country is building enables these fintech players to “find opportunities to see if their early ideas translate into real value in the long run.”</p>\n<p>Mohanty, who&nbsp;spent17 years at Citigroup Inc. before taking the position at the central bank in 2015, is in the fintech role at a time when the industry is fast evolving. The MAS’ aspirations are central to Singapore’s aim to fortify its position as a global financial center where incumbent banks and contesting tech firms compete to provide services to consumers and corporates, though it is also a gatekeeper of standards as companies roll out their businesses.</p>\n<p>Mohanty has been involved with efforts like&nbsp;Partior, the joint venture between JPMorgan Chase &amp; Co., Temasek Holdings Pte. and DBS Group Holdings Ltd., that’s a new&nbsp;blockchain-based platform&nbsp;for payments, trade and foreign-exchange settlement. He is also keen to expand a cross-border payments infrastructure, that has&nbsp;kicked off&nbsp;with Thailand allowing people in both countries to almost immediately move money via their mobile phones through government-backed systems.</p>\n<p><b>Money Transfers, Licenses</b></p>\n<p>With the Thailand link now established, India is a focus, Mohanty said. Other countries in Southeast Asia like Malaysia and Indonesia may follow, as well as countries further afield like Africa.</p>\n<p>“WehopeIndia comes into this platform within next year,” he said. “If we can connect our system with India’s -- we have done a huge test of our system -- wehopeother countries will also follow onto this platform.”</p>\n<p>Meanwhile, the MAS is still processing the applications of companies seeking&nbsp;licenses&nbsp;to operate services in payments and crypto exchanges in the city, Mohanty said. These companies have been operating under a grace period since the regulator made the new Payment Services Act effective in January 2020. More than 300 have applied, and the MAS is reviewing how best to speed up the process as well as balance between encouraging entrepreneurship and regulation, according to a Singapore minister in January this year.</p>\n<p>Among the prominent firms&nbsp;seeking&nbsp;the MAS licenses are entities of Alibaba Group Holdings Ltd. and Ant Group, Binance Holdings Ltd., as well as Alphabet Inc.</p>\n<p>“Giving licences to somebody is a premium, it is not something to be taken lightly.” Mohanty said, without giving a timeline for when the first license would be issued. “We are ensuring that whoever gets an MAS license will be credible.”</p>\n<p>Here are other comments from Mohanty during the interview:</p>\n<p><b>Central Bank Digital Currencies</b></p>\n<p>Central bank digital currencies have become an issue of focus as China advances with its digital yuan, which is in the testing phase. They’re usually in one of two categories, either a retail CBDC that’s held directly by citizens and companies, or a wholesale CBDC that’s restricted to financial institutions and is primarily for interbank payments and financial settlement.</p>\n<p>Singapore was ranked&nbsp;number three&nbsp;in a PwC index released in April that measures progress of interbank/wholesale CBDCs. Retail, like the one China is planning, is a different story, though, according to Mohanty.</p>\n<p>“In the Singapore context, it is not obvious that a retail central bank digital currency would be useful because today, you can already send money to each other at zero cost and with a few clicks. What can you do better than that?”</p>\n<p><b>Bitcoin and Cryptocurrencies</b></p>\n<p>Singapore and its private sector have taken steps to bolster its presence in cryptocurrencies, from the Singapore Exchange Ltd. moves to become Asia’s&nbsp;pricing hub&nbsp;for Bitcoin and Ether to DBS Private Bank starting Asia’s first bank-backed&nbsp;trust solution&nbsp;for crypto. At the same time however, the government&nbsp;has&nbsp;repeatedly warned its citizens about the risks of trading crypto like Bitcoin.</p>\n<p>“I haven’t touched Bitcoin till now. It’s a speculative asset,” Mohanty said. “It’s common sense that nobody should indulge in assets they don’t understand. It’s so volatile and it’s so complex. MAS is doing a lot of work through parliament speeches and messages to tell people to be careful. And if people still go out and buy such risky assets, it is their choice.”</p>\n<p>However, he added that in terms of exchanges, “we know that the world is moving to digital currencies – so, CBDCs and stablecoins and all these other things.”</p>\n<p>“The first thing which is getting institutionalized are the exchanges. The common platform, like Partior, they are becoming the backbone. And once this backbone gets created, then the transactions flow through this backbone and eventually becomes more mainstream. There is a value to this shift in how you think about payments and currencies.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore’s Fintech Honcho Has Vision of Asian Silicon Valley</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\">\nSingapore’s Fintech Honcho Has Vision of Asian Silicon Valley\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 15:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-04/singapore-s-fintech-honcho-has-vision-of-asian-silicon-valley?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Fintech investments in the city-state have soared since 2014\nMohanty also discusses cross-border payments, cryptocurrencies\n\nSopnendu Mohanty Photographer: Paul Miller/Bloomberg\nSingapore sees more ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-04/singapore-s-fintech-honcho-has-vision-of-asian-silicon-valley?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-04/singapore-s-fintech-honcho-has-vision-of-asian-silicon-valley?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142022628","content_text":"Fintech investments in the city-state have soared since 2014\nMohanty also discusses cross-border payments, cryptocurrencies\n\nSopnendu Mohanty Photographer: Paul Miller/Bloomberg\nSingapore sees more investments pouring into financial technology firms this year as the city-state seeks to become a regional hub for capital raising in areas from payments to robo-advisory, according to a top central bank official.\nSuch investments have risen from around $20 million in 2014 to a record $1.1 billion last year, and more is expected this year, Sopnendu Mohanty, the Monetary Authority of Singapore’s chief fintech officer, said in an interview.\n“We don’t have Silicon Valley, but we are trying our best,” he said. The environment the country is building enables these fintech players to “find opportunities to see if their early ideas translate into real value in the long run.”\nMohanty, who spent17 years at Citigroup Inc. before taking the position at the central bank in 2015, is in the fintech role at a time when the industry is fast evolving. The MAS’ aspirations are central to Singapore’s aim to fortify its position as a global financial center where incumbent banks and contesting tech firms compete to provide services to consumers and corporates, though it is also a gatekeeper of standards as companies roll out their businesses.\nMohanty has been involved with efforts like Partior, the joint venture between JPMorgan Chase & Co., Temasek Holdings Pte. and DBS Group Holdings Ltd., that’s a new blockchain-based platform for payments, trade and foreign-exchange settlement. He is also keen to expand a cross-border payments infrastructure, that has kicked off with Thailand allowing people in both countries to almost immediately move money via their mobile phones through government-backed systems.\nMoney Transfers, Licenses\nWith the Thailand link now established, India is a focus, Mohanty said. Other countries in Southeast Asia like Malaysia and Indonesia may follow, as well as countries further afield like Africa.\n“WehopeIndia comes into this platform within next year,” he said. “If we can connect our system with India’s -- we have done a huge test of our system -- wehopeother countries will also follow onto this platform.”\nMeanwhile, the MAS is still processing the applications of companies seeking licenses to operate services in payments and crypto exchanges in the city, Mohanty said. These companies have been operating under a grace period since the regulator made the new Payment Services Act effective in January 2020. More than 300 have applied, and the MAS is reviewing how best to speed up the process as well as balance between encouraging entrepreneurship and regulation, according to a Singapore minister in January this year.\nAmong the prominent firms seeking the MAS licenses are entities of Alibaba Group Holdings Ltd. and Ant Group, Binance Holdings Ltd., as well as Alphabet Inc.\n“Giving licences to somebody is a premium, it is not something to be taken lightly.” Mohanty said, without giving a timeline for when the first license would be issued. “We are ensuring that whoever gets an MAS license will be credible.”\nHere are other comments from Mohanty during the interview:\nCentral Bank Digital Currencies\nCentral bank digital currencies have become an issue of focus as China advances with its digital yuan, which is in the testing phase. They’re usually in one of two categories, either a retail CBDC that’s held directly by citizens and companies, or a wholesale CBDC that’s restricted to financial institutions and is primarily for interbank payments and financial settlement.\nSingapore was ranked number three in a PwC index released in April that measures progress of interbank/wholesale CBDCs. Retail, like the one China is planning, is a different story, though, according to Mohanty.\n“In the Singapore context, it is not obvious that a retail central bank digital currency would be useful because today, you can already send money to each other at zero cost and with a few clicks. What can you do better than that?”\nBitcoin and Cryptocurrencies\nSingapore and its private sector have taken steps to bolster its presence in cryptocurrencies, from the Singapore Exchange Ltd. moves to become Asia’s pricing hub for Bitcoin and Ether to DBS Private Bank starting Asia’s first bank-backed trust solution for crypto. At the same time however, the government has repeatedly warned its citizens about the risks of trading crypto like Bitcoin.\n“I haven’t touched Bitcoin till now. It’s a speculative asset,” Mohanty said. “It’s common sense that nobody should indulge in assets they don’t understand. It’s so volatile and it’s so complex. MAS is doing a lot of work through parliament speeches and messages to tell people to be careful. And if people still go out and buy such risky assets, it is their choice.”\nHowever, he added that in terms of exchanges, “we know that the world is moving to digital currencies – so, CBDCs and stablecoins and all these other things.”\n“The first thing which is getting institutionalized are the exchanges. The common platform, like Partior, they are becoming the backbone. And once this backbone gets created, then the transactions flow through this backbone and eventually becomes more mainstream. There is a value to this shift in how you think about payments and currencies.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":377,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117690017,"gmtCreate":1623134909639,"gmtModify":1704196783855,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"How high can Apple grow?","listText":"How high can Apple grow?","text":"How high can Apple grow?","images":[{"img":"https://static.tigerbbs.com/ddb2d5818f3718057ee4e49ffee37013","width":"1080","height":"3351"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/117690017","isVote":1,"tweetType":1,"viewCount":301,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":116807369,"gmtCreate":1622785241651,"gmtModify":1704191165061,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"I think technology and semiconductor stocks have a huge potential to grow more with the trend on digitalisation and push to adopt green technology solutions.","listText":"I think technology and semiconductor stocks have a huge potential to grow more with the trend on digitalisation and push to adopt green technology solutions.","text":"I think technology and semiconductor stocks have a huge potential to grow more with the trend on digitalisation and push to adopt green technology solutions.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116807369","repostId":"2140617694","repostType":2,"repost":{"id":"2140617694","pubTimestamp":1622560398,"share":"https://ttm.financial/m/news/2140617694?lang=&edition=fundamental","pubTime":"2021-06-01 23:13","market":"us","language":"en","title":"The Top 50 Robinhood Stocks in June","url":"https://stock-news.laohu8.com/highlight/detail?id=2140617694","media":"Motley Fool","summary":"Millennial investors can't stop buying into these companies.","content":"<p>Volatility is always present in the stock market, but it's been especially prominent since February 2020. Though patience has, once again, paid off for investors, their gains have come after the benchmark <b>S&amp;P 500</b> lost 34% of its value in less than five weeks during the first quarter of 2020.</p>\n<p>Some investors absolutely shy away when heightened volatility rears its head. But that's not what we've witnessed from retail investors.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/99b3853458b2424e2901821012f5502f\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<p>Even though retail investors have been putting their money to work on Wall Street for more than a century, they used the wild volatility on Wall Street over the past 16 months as their cue to really ramp up their buying. How do we know this? Just take a look at online investing app Robinhood, which gained approximately 3 million new users last year.</p>\n<p>Millennial investors have found a home at Robinhood for a bevy of reasons. The app doesn't charge commissions for buying or selling on major exchanges, and it allows fractional shares&nbsp;for a number of securities. The company even awards new members with free shares of stock.</p>\n<p>While it's fantastic to see young investors putting their money to work in the greatest wealth creator on the planet, it's also disturbing to see what they've been buying. Instead of taking the tried-and-true long-term investing approach, many are chasing momentum plays, penny stocks, and companies with poor operating performance.</p>\n<p>Don't believe me? Here are the 50 most-held stocks on Robinhood's leaderboard as we enter June:</p>\n<table width=\"492\">\n <thead>\n  <tr>\n   <th>Company</th>\n   <th>Company</th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td>1. <b>Tesla </b>(NASDAQ:TSLA)</td>\n   <td>26. <b>OrganiGram Holdings</b></td>\n  </tr>\n  <tr>\n   <td>2. <b>Apple&nbsp;</b></td>\n   <td>27. <b>Bank of America</b></td>\n  </tr>\n  <tr>\n   <td>3. <b>AMC Entertainment Holdings</b> (NYSE:AMC)</td>\n   <td>28. <b>Coinbase Global</b></td>\n  </tr>\n  <tr>\n   <td>4. <b>Sundial Growers</b> (NASDAQ:SNDL)</td>\n   <td>29. <b>Tilray</b></td>\n  </tr>\n  <tr>\n   <td>5. <b>Ford Motor</b></td>\n   <td>30. <b><a href=\"https://laohu8.com/S/FB\">Facebook</a></b></td>\n  </tr>\n  <tr>\n   <td>6. <b>General Electric</b></td>\n   <td>31. <b>Canopy Growth</b> (NASDAQ:CGC)</td>\n  </tr>\n  <tr>\n   <td>7. <b>NIO&nbsp;</b></td>\n   <td>32. <b>Advanced Micro Devices</b></td>\n  </tr>\n  <tr>\n   <td>8. <b>Walt Disney</b></td>\n   <td>33. <b><a href=\"https://laohu8.com/S/TWTR\">Twitter</a></b></td>\n  </tr>\n  <tr>\n   <td>9. <b>Microsoft</b></td>\n   <td>34. <b>Starbucks</b> (NASDAQ:SBUX)</td>\n  </tr>\n  <tr>\n   <td>10. <b>Amazon&nbsp;</b></td>\n   <td>35. <b>Moderna</b></td>\n  </tr>\n  <tr>\n   <td>11. <b>American Airlines Group</b></td>\n   <td>36. <b>AT&amp;T</b></td>\n  </tr>\n  <tr>\n   <td>12. <b>Plug Power</b></td>\n   <td>37. <b>FuelCell Energy</b></td>\n  </tr>\n  <tr>\n   <td>13. <b>Nokia&nbsp;</b></td>\n   <td>38. <b>Virgin Galactic Holdings&nbsp;</b></td>\n  </tr>\n  <tr>\n   <td>14. <b>Pfizer&nbsp;</b></td>\n   <td>39. <b>Ideanomics&nbsp;</b></td>\n  </tr>\n  <tr>\n   <td>15. <b>Aurora Cannabis</b> (NASDAQ:ACB)</td>\n   <td>40. <b>Norwegian Cruise Line Holdings</b></td>\n  </tr>\n  <tr>\n   <td>16. <b>Carnival</b></td>\n   <td>41. <b>Vanguard S&amp;P 500 ETF</b></td>\n  </tr>\n  <tr>\n   <td>17. <b>GameStop</b> (NYSE:GME)</td>\n   <td>42. <b>Coca-Cola</b></td>\n  </tr>\n  <tr>\n   <td>18. <b>Zomedica</b> (NYSEMKT:ZOM)</td>\n   <td>43. <b>General Motors</b></td>\n  </tr>\n  <tr>\n   <td>19. <b><a href=\"https://laohu8.com/S/GPRO\">GoPro</a>&nbsp;</b></td>\n   <td>44. <b>NVIDIA</b></td>\n  </tr>\n  <tr>\n   <td>20. <b>Palantir Technologies</b></td>\n   <td>45. <b>SPDR S&amp;P 500 ETF</b></td>\n  </tr>\n  <tr>\n   <td>21. <b><a href=\"https://laohu8.com/S/CCC.U\">Churchill Capital</a></b></td>\n   <td>46. <b>United Airlines Holdings</b></td>\n  </tr>\n  <tr>\n   <td>22. <b>Delta Air Lines</b></td>\n   <td>47. <b>Uber Technologies</b></td>\n  </tr>\n  <tr>\n   <td>23. <b>Snap&nbsp;</b></td>\n   <td>48. <b><a href=\"https://laohu8.com/S/ZNGA\">Zynga</a></b></td>\n  </tr>\n  <tr>\n   <td>24. <b>Netflix&nbsp;</b></td>\n   <td>49. <b>Boeing</b></td>\n  </tr>\n  <tr>\n   <td>25. <b>Alibaba Group Holding</b></td>\n   <td>50. <b>Workhorse Group</b></td>\n  </tr>\n </tbody>\n</table>\n<p>Data source: Robinhood, as of May 28, 2021.</p>\n<h2>Meme-mania doesn't stop</h2>\n<p>With retail investors acting as the catalyst behind the meme stock craze (meme stocks are companies lauded for their social media popularity, not their fundamentals), it should come as no surprise that companies like AMC Entertainment, GameStop, and Sundial Growers are among the most-held on Robinhood.</p>\n<p>AMC, GameStop, and Sundial were some of the most heavily short-sold companies earlier this year, which made them logical targets by investors on Reddit who were looking for short-squeeze opportunities. Though we witnessed these squeezes take place in January and February, the recent trading in these names looks to be more hype or mania than short-covering.</p>\n<p>History is pretty clear that hype-driven stocks will eventually have the rug pulled out from under them. AMC, for example, is going to struggle just to service its more than $5.4 billion in corporate debt and doesn't appear to have a chance to pay back what comes due in 2026. It also has $473 million in deferred rent obligations to contend with.</p>\n<p>As for GameStop, it boasts a healthy net cash position following a recent share offering. But it was very late in transitioning to digital gaming, and as a result will see its sales go nowhere for years to come. GameStop's core strategy for the time being is to keep closing physical stores to cut down on operating expenses.</p>\n<p>In sum, meme stocks are bad news.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/86c5f70d97c3ea9f633e0f2dbad565ba\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Penny for your thoughts</h2>\n<p>Robinhood investors have also demonstrated that they love penny stocks. Sundial Growers and Zomedica are two of the 18 most-held stocks on the platform, yet both can be purchased for under $1 a share.</p>\n<p>Psychologically, young and/or novice investors believe that owning more shares of stock will give them a better chance to make a lot of money. There's also the belief that it's easier to double a stock from $1 a share to $2 than, say, $100 to $200. But the reality is that penny stocks almost always trade at a low share price for very good reasons.</p>\n<p>In the case of pot stock Sundial Growers, it's because the company's management team can't stop drowning its investors in share offerings. Earlier this year, the company's board OK'd an additional $800 million at-the-market share offering. Since the end of September, more than 1.35 billion shares have been issued. With 1.86 billion shares now outstanding, Sundial has almost no chance of ever generating meaningful earnings per share, or perhaps even remaining listed on the <b>Nasdaq</b>&nbsp;exchange.</p>\n<p>As for veterinary health company Zomedica, it only began commercializing its first product in mid-March. Shares are currently valued at close to 40 times sales looking three years into the future. Though it does have a healthy cash position, Zomedica has buried its investors with share offerings and is closing in on 1 billion shares outstanding.</p>\n<p>Penny stocks are rarely cheap.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5811406aed4001edc942cb25310a21cf\" tg-width=\"700\" tg-height=\"467\"><span>Image source: Getty Images.</span></p>\n<h2>\"Merry-juana\"</h2>\n<p>Another trend you'll note about millennial investors is that they really love the prospects for marijuana stocks. In this respect, I agree with them.</p>\n<p>Unfortunately, Robinhood is shortchanging its users in the cannabis department. Since the trading platform won't allow its users to buy and sell stocks listed on the over-the-counter exchange, and U.S. pot stocks can't list on major exchanges due to cannabis being illicit at the federal level, Robinhood users are stuck buying Canadian weed stocks. To put things as nicely as possible, the Canadian pot stocks have been a disaster.</p>\n<p>Aurora Cannabis, which at <a href=\"https://laohu8.com/S/AONE\">one</a> time was the most-held stock on Robinhood, has been burying its shareholders in dilution for years. It used its stock as collateral for around a dozen deals and grossly overpaid for all of its acquisitions. Even with legal Canadian weed sales climbing, Aurora's top line has been stuck in neutral or gone in reverse.</p>\n<p>Canopy Growth is another popular marijuana stock that's been an utter disappointment. The company's cash pile has dwindled significantly over the past couple of years, and Canopy is still nowhere close to generating a profit, even after closing two large greenhouses in British Columbia.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/11b7b594784b441dbeb82fcdb187aac3\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Starbucks.</span></p>\n<h2>Brand-name companies are popular with millennials</h2>\n<p>Lastly, you'll note that among the meme stocks, pot stocks, and penny stocks, millennial investors have also piled into brand-name companies that they're familiar with or regularly engage with.</p>\n<p>For instance, electric-vehicle (EV) manufacturer Tesla has supplanted Apple as the most-held stock in the Robinhood universe. Generally speaking, the desire to take action against climate change increases the younger someone is. Motivated young investors who want to see positive climate action taken, and who have a favorable view of CEO Elon Musk, have flocked to Tesla. In kind, Tesla's production numbers have risen significantly, and could near 800,000 EVs in 2021.</p>\n<p>Coffee giant Starbucks has also been rising up the leaderboard in recent months. It has used its mobile app and rewards as a means to keep the younger generation loyal to its brand. It has also introduced an array of healthier lunches and snack options to improve foot traffic. It definitely doesn't hurt that Starbucks is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most-recognized brands in the world.</p>\n<p>Brand-name companies that can engage with young investors are always a good bet to work their way onto Robinhood's leaderboard.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Top 50 Robinhood Stocks in June</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Top 50 Robinhood Stocks in June\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-01 23:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/01/the-top-50-robinhood-stocks-in-june/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Volatility is always present in the stock market, but it's been especially prominent since February 2020. Though patience has, once again, paid off for investors, their gains have come after the ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/01/the-top-50-robinhood-stocks-in-june/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NOK":"诺基亚","UBER":"优步","UAL":"联合大陆航空","WKHS":"Workhorse Group, Inc.","SBUX":"星巴克","AAL":"美国航空","MRNA":"Moderna, Inc.","TWTR":"Twitter","T":"美国电话电报","BABA":"阿里巴巴","AAPL":"苹果","F":"福特汽车","PLUG":"普拉格能源","AMD":"美国超微公司","MSFT":"微软","DAL":"达美航空","NVDA":"英伟达","GME":"游戏驿站","NIO":"蔚来","GM":"通用汽车","SPCE":"维珍银河","CGC":"Canopy Growth Corporation","DIS":"迪士尼","TLRY":"Tilray Inc.","ZOM":"Zomedica Pharmaceuticals Corp.","AMC":"AMC院线","CCL":"嘉年华邮轮","ACB":"奥罗拉大麻公司","BAC":"美国银行","TSLA":"特斯拉","SNAP":"Snap Inc","COIN":"Coinbase Global, Inc.","PFE":"辉瑞","NFLX":"奈飞","FCEL":"燃料电池能源","GPRO":"GoPro","GE":"GE航空航天","PLTR":"Palantir Technologies Inc.","BA":"波音","KO":"可口可乐","OGI":"ORGANIGRAM HOLD","SNDL":"SNDL Inc."},"source_url":"https://www.fool.com/investing/2021/06/01/the-top-50-robinhood-stocks-in-june/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2140617694","content_text":"Volatility is always present in the stock market, but it's been especially prominent since February 2020. Though patience has, once again, paid off for investors, their gains have come after the benchmark S&P 500 lost 34% of its value in less than five weeks during the first quarter of 2020.\nSome investors absolutely shy away when heightened volatility rears its head. But that's not what we've witnessed from retail investors.\nImage source: Getty Images.\nEven though retail investors have been putting their money to work on Wall Street for more than a century, they used the wild volatility on Wall Street over the past 16 months as their cue to really ramp up their buying. How do we know this? Just take a look at online investing app Robinhood, which gained approximately 3 million new users last year.\nMillennial investors have found a home at Robinhood for a bevy of reasons. The app doesn't charge commissions for buying or selling on major exchanges, and it allows fractional shares for a number of securities. The company even awards new members with free shares of stock.\nWhile it's fantastic to see young investors putting their money to work in the greatest wealth creator on the planet, it's also disturbing to see what they've been buying. Instead of taking the tried-and-true long-term investing approach, many are chasing momentum plays, penny stocks, and companies with poor operating performance.\nDon't believe me? Here are the 50 most-held stocks on Robinhood's leaderboard as we enter June:\n\n\n\nCompany\nCompany\n\n\n\n\n1. Tesla (NASDAQ:TSLA)\n26. OrganiGram Holdings\n\n\n2. Apple \n27. Bank of America\n\n\n3. AMC Entertainment Holdings (NYSE:AMC)\n28. Coinbase Global\n\n\n4. Sundial Growers (NASDAQ:SNDL)\n29. Tilray\n\n\n5. Ford Motor\n30. Facebook\n\n\n6. General Electric\n31. Canopy Growth (NASDAQ:CGC)\n\n\n7. NIO \n32. Advanced Micro Devices\n\n\n8. Walt Disney\n33. Twitter\n\n\n9. Microsoft\n34. Starbucks (NASDAQ:SBUX)\n\n\n10. Amazon \n35. Moderna\n\n\n11. American Airlines Group\n36. AT&T\n\n\n12. Plug Power\n37. FuelCell Energy\n\n\n13. Nokia \n38. Virgin Galactic Holdings \n\n\n14. Pfizer \n39. Ideanomics \n\n\n15. Aurora Cannabis (NASDAQ:ACB)\n40. Norwegian Cruise Line Holdings\n\n\n16. Carnival\n41. Vanguard S&P 500 ETF\n\n\n17. GameStop (NYSE:GME)\n42. Coca-Cola\n\n\n18. Zomedica (NYSEMKT:ZOM)\n43. General Motors\n\n\n19. GoPro \n44. NVIDIA\n\n\n20. Palantir Technologies\n45. SPDR S&P 500 ETF\n\n\n21. Churchill Capital\n46. United Airlines Holdings\n\n\n22. Delta Air Lines\n47. Uber Technologies\n\n\n23. Snap \n48. Zynga\n\n\n24. Netflix \n49. Boeing\n\n\n25. Alibaba Group Holding\n50. Workhorse Group\n\n\n\nData source: Robinhood, as of May 28, 2021.\nMeme-mania doesn't stop\nWith retail investors acting as the catalyst behind the meme stock craze (meme stocks are companies lauded for their social media popularity, not their fundamentals), it should come as no surprise that companies like AMC Entertainment, GameStop, and Sundial Growers are among the most-held on Robinhood.\nAMC, GameStop, and Sundial were some of the most heavily short-sold companies earlier this year, which made them logical targets by investors on Reddit who were looking for short-squeeze opportunities. Though we witnessed these squeezes take place in January and February, the recent trading in these names looks to be more hype or mania than short-covering.\nHistory is pretty clear that hype-driven stocks will eventually have the rug pulled out from under them. AMC, for example, is going to struggle just to service its more than $5.4 billion in corporate debt and doesn't appear to have a chance to pay back what comes due in 2026. It also has $473 million in deferred rent obligations to contend with.\nAs for GameStop, it boasts a healthy net cash position following a recent share offering. But it was very late in transitioning to digital gaming, and as a result will see its sales go nowhere for years to come. GameStop's core strategy for the time being is to keep closing physical stores to cut down on operating expenses.\nIn sum, meme stocks are bad news.\nImage source: Getty Images.\nPenny for your thoughts\nRobinhood investors have also demonstrated that they love penny stocks. Sundial Growers and Zomedica are two of the 18 most-held stocks on the platform, yet both can be purchased for under $1 a share.\nPsychologically, young and/or novice investors believe that owning more shares of stock will give them a better chance to make a lot of money. There's also the belief that it's easier to double a stock from $1 a share to $2 than, say, $100 to $200. But the reality is that penny stocks almost always trade at a low share price for very good reasons.\nIn the case of pot stock Sundial Growers, it's because the company's management team can't stop drowning its investors in share offerings. Earlier this year, the company's board OK'd an additional $800 million at-the-market share offering. Since the end of September, more than 1.35 billion shares have been issued. With 1.86 billion shares now outstanding, Sundial has almost no chance of ever generating meaningful earnings per share, or perhaps even remaining listed on the Nasdaq exchange.\nAs for veterinary health company Zomedica, it only began commercializing its first product in mid-March. Shares are currently valued at close to 40 times sales looking three years into the future. Though it does have a healthy cash position, Zomedica has buried its investors with share offerings and is closing in on 1 billion shares outstanding.\nPenny stocks are rarely cheap.\nImage source: Getty Images.\n\"Merry-juana\"\nAnother trend you'll note about millennial investors is that they really love the prospects for marijuana stocks. In this respect, I agree with them.\nUnfortunately, Robinhood is shortchanging its users in the cannabis department. Since the trading platform won't allow its users to buy and sell stocks listed on the over-the-counter exchange, and U.S. pot stocks can't list on major exchanges due to cannabis being illicit at the federal level, Robinhood users are stuck buying Canadian weed stocks. To put things as nicely as possible, the Canadian pot stocks have been a disaster.\nAurora Cannabis, which at one time was the most-held stock on Robinhood, has been burying its shareholders in dilution for years. It used its stock as collateral for around a dozen deals and grossly overpaid for all of its acquisitions. Even with legal Canadian weed sales climbing, Aurora's top line has been stuck in neutral or gone in reverse.\nCanopy Growth is another popular marijuana stock that's been an utter disappointment. The company's cash pile has dwindled significantly over the past couple of years, and Canopy is still nowhere close to generating a profit, even after closing two large greenhouses in British Columbia.\nImage source: Starbucks.\nBrand-name companies are popular with millennials\nLastly, you'll note that among the meme stocks, pot stocks, and penny stocks, millennial investors have also piled into brand-name companies that they're familiar with or regularly engage with.\nFor instance, electric-vehicle (EV) manufacturer Tesla has supplanted Apple as the most-held stock in the Robinhood universe. Generally speaking, the desire to take action against climate change increases the younger someone is. Motivated young investors who want to see positive climate action taken, and who have a favorable view of CEO Elon Musk, have flocked to Tesla. In kind, Tesla's production numbers have risen significantly, and could near 800,000 EVs in 2021.\nCoffee giant Starbucks has also been rising up the leaderboard in recent months. It has used its mobile app and rewards as a means to keep the younger generation loyal to its brand. It has also introduced an array of healthier lunches and snack options to improve foot traffic. It definitely doesn't hurt that Starbucks is one of the most-recognized brands in the world.\nBrand-name companies that can engage with young investors are always a good bet to work their way onto Robinhood's leaderboard.","news_type":1},"isVote":1,"tweetType":1,"viewCount":383,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169371370,"gmtCreate":1623819109590,"gmtModify":1703820460826,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"I too agree that the market is on a bull run to some sort of a bubble.&nbsp;A reminder to be cautious. It all depends on your risk appetite, whether you are willing to invest the amount you are willing to lose. Or you are confident to take that positions now for potential growth in the horizon of 5 to 10 years or more.","listText":"I too agree that the market is on a bull run to some sort of a bubble.&nbsp;A reminder to be cautious. It all depends on your risk appetite, whether you are willing to invest the amount you are willing to lose. Or you are confident to take that positions now for potential growth in the horizon of 5 to 10 years or more.","text":"I too agree that the market is on a bull run to some sort of a bubble. A reminder to be cautious. It all depends on your risk appetite, whether you are willing to invest the amount you are willing to lose. Or you are confident to take that positions now for potential growth in the horizon of 5 to 10 years or more.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169371370","repostId":"1182315358","repostType":4,"repost":{"id":"1182315358","pubTimestamp":1623814338,"share":"https://ttm.financial/m/news/1182315358?lang=&edition=fundamental","pubTime":"2021-06-16 11:32","market":"us","language":"en","title":"It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1182315358","media":"MarketWatch","summary":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn","content":"<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/724d1ea0bb18bddb367c79abf08c1af9\" tg-width=\"1260\" tg-height=\"841\"><span>It takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)</span></p>\n<p>I don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.</p>\n<p>After 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.</p>\n<p>Maybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.</p>\n<p>But I simply don’t think that’s the most likely outcome.</p>\n<p>And if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.</p>\n<p>I’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.</p>\n<p>Trading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how&nbsp;good analysis starts with empathy.</p>\n<p><b>If I’m selling, who’s buying — and why?</b></p>\n<p>So let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference&nbsp;in Abu Dhabi and everybody was desperate for returns:</p>\n<p>Amid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”</p>\n<p>Since that post, back a year and a half ago, Slack&nbsp;went from $21 to being bought out at $45, Twitter&nbsp;went from $27 to $61, and Tesla&nbsp;went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.</p>\n<p>And now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by&nbsp;23-year-old TikTok influencers&nbsp;doing bitcoin&nbsp;trading astrology.</p>\n<p>Yes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.”&nbsp;Bearish anecdotes everywhere I look, as I wrote recently.</p>\n<p><b>Mr. Market</b></p>\n<p>The other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.</p>\n<p>Mr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.</p>\n<p>Sometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average&nbsp;up 400% from the 1921 lows to the 1929 highs.</p>\n<p><img src=\"https://static.tigerbbs.com/3a6516337aacc614d83584ea90e174f2\" tg-width=\"1260\" tg-height=\"870\"></p>\n<p><b>Learning from Soros</b></p>\n<p>But looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,<i>and</i>the economy crashed because the markets shut down access to capital for investment and growth.</p>\n<p>It was “reflexive,” to borrow a term from the great hedge fund manager&nbsp;George Soros.</p>\n<p>He wrote, and the concept is important to understand:</p>\n<p>“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…</p>\n<p>“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…</p>\n<p>“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…</p>\n<p>“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”</p>\n<p>Stay flexible</p>\n<p>Far-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.</p>\n<p>We don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.</p>\n<p>It’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.</p>\n<p>Most traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.</p>\n<p>We are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.</p>\n<p>I spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.</p>\n<p>As a matter of fact,&nbsp;I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 11:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what...</p>\n\n<a href=\"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182315358","content_text":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.\nAfter 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.\nMaybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.\nBut I simply don’t think that’s the most likely outcome.\nAnd if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.\nI’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.\nTrading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how good analysis starts with empathy.\nIf I’m selling, who’s buying — and why?\nSo let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference in Abu Dhabi and everybody was desperate for returns:\nAmid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”\nSince that post, back a year and a half ago, Slack went from $21 to being bought out at $45, Twitter went from $27 to $61, and Tesla went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.\nAnd now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by 23-year-old TikTok influencers doing bitcoin trading astrology.\nYes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.” Bearish anecdotes everywhere I look, as I wrote recently.\nMr. Market\nThe other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.\nMr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.\nSometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average up 400% from the 1921 lows to the 1929 highs.\n\nLearning from Soros\nBut looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,andthe economy crashed because the markets shut down access to capital for investment and growth.\nIt was “reflexive,” to borrow a term from the great hedge fund manager George Soros.\nHe wrote, and the concept is important to understand:\n“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…\n“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…\n“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…\n“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”\nStay flexible\nFar-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.\nWe don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.\nIt’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.\nMost traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.\nWe are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.\nI spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.\nAs a matter of fact, I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?","news_type":1},"isVote":1,"tweetType":1,"viewCount":201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184156698,"gmtCreate":1623691439814,"gmtModify":1704208893610,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"Wait for it to fall further?","listText":"Wait for it to fall further?","text":"Wait for it to fall further?","images":[{"img":"https://static.tigerbbs.com/e88b2a78b56225c37a41a210da3145c8","width":"1440","height":"3973"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/184156698","isVote":1,"tweetType":1,"viewCount":59,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":183462933,"gmtCreate":1623341956922,"gmtModify":1704201398704,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"A highly&nbsp;prospective Big Data company?","listText":"A highly&nbsp;prospective Big Data company?","text":"A highly prospective Big Data company?","images":[{"img":"https://static.tigerbbs.com/76bfd79709789baf5f9aca2569c4eff9","width":"1440","height":"2864"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183462933","isVote":1,"tweetType":1,"viewCount":219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":115191817,"gmtCreate":1622956185939,"gmtModify":1704193780709,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"For the future!","listText":"For the future!","text":"For the future!","images":[{"img":"https://static.tigerbbs.com/648b236e066ea66a90f225f31440f215","width":"1440","height":"4105"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/115191817","isVote":1,"tweetType":1,"viewCount":255,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":115372763,"gmtCreate":1622955038452,"gmtModify":1704193758953,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"Good read. A good stock&nbsp;for future growth or have it reached its full potential of growth? Let's find out!","listText":"Good read. A good stock&nbsp;for future growth or have it reached its full potential of growth? Let's find out!","text":"Good read. A good stock for future growth or have it reached its full potential of growth? Let's find out!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/115372763","repostId":"1102972710","repostType":4,"repost":{"id":"1102972710","pubTimestamp":1622948427,"share":"https://ttm.financial/m/news/1102972710?lang=&edition=fundamental","pubTime":"2021-06-06 11:00","market":"us","language":"en","title":"Micron: A Strong Chip Shortage Play","url":"https://stock-news.laohu8.com/highlight/detail?id=1102972710","media":"seekingalpha","summary":"Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favo","content":"<p><b>Summary</b></p>\n<ul>\n <li>Micron's four business units have sizable TAMs.</li>\n <li>Both the DRAM and NAND industries have favourable outlooks.</li>\n <li>Industry tailwinds point to pricing power and expanding margins.</li>\n <li>The strong financials of the company will serve them well in the current high-volatility environment.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b87dd8114b0aa47fdcdd26e5dc40d5ee\" tg-width=\"1536\" tg-height=\"896\"><span>Photo by vchal/iStock via Getty Images</span></p>\n<p>Micron Technology(NASDAQ:MU)&nbsp;is a severely undervalued semiconductor play with significant upside based upon conservative estimates, strong fundamentals, and favorable industry tailwinds. The current semiconductor shortage worldwide has put pressure upon semiconductor companies as they rush to ramp up production after an intentional slowdown and supply disruption amidst the pandemic. Forecasts and estimates regarding how fast demand was to bounce back came in entirely too conservative, and as a result the unprecedented surge in demand with a lagging supply has buyers of semiconductor chips such as&nbsp;auto manufacturers forced to slash production.</p>\n<p>Semiconductors of all kinds are the fundamental basic unit and brains of products ranging from audio devices, security cameras, automobiles, to even smart fridges. When it comes to a global shortage in a time as such, companies that are 'fabless' lose out and those that have their own manufacturing facilities and plants gain the upper hand as flexibility and production output remains in their ballpark. Today we examine how Micron is one of them, and despite its remarkable run up 54% since the start of 2020, there is considerable upside remaining given the size of the different total addressable markets(NYSE:TAM)that Micron is targeting.</p>\n<p><b>Business Model</b></p>\n<p>Micron is one of the top 3 memory chip makers in the world with a product portfolio featuring DRAM, NAND, NOR, and even&nbsp;3D XPoint SSDs that they have since ceased production.Management guided that the decision comes amidst the findings that:</p>\n<blockquote>\n There was insufficient market validation to justify the ongoing investments required to commercialize 3D XPoint at scale.\n</blockquote>\n<p>As promising as the 3D XPoint developments that Micron had that first started as a joint partnership with Intel in 2015 before parting ways in 2018 was, the impact moving forward will be minimal given that revenue from selling DRAM and NAND chips still accounts for the majority of Micron's Revenue, and 3D XPoint SSDs had yet to scale up.</p>\n<p><b>DRAM and NAND</b></p>\n<p>DRAM (Dynamic Random-Access Memory) devices are essentially a type of low latency memory product commonly used in PCs, servers, smartphones, and automobiles.</p>\n<p>It is 'volatile' as content will be lost if the power supply is turned off. As such, DRAM devices store information that needs to be quickly accessed by the CPU / GPU. CPUs provide the raw computational power needed to run software programs and RAMs store the data and software code needed by the CPU to run in real-time.</p>\n<p>The DRAM market operates as an oligopolistic one, with the 3 biggest competitors, Samsung (OTC:SSNLF), SK Hynix (OTC:HXSCL), and Micron dominating 94.1% of the market share. Samsung leads with 42% as of the latest fiscal quarter, SK Hynix second with 29% and Micron close behind with&nbsp;23.1% of the market share.Amongst the 3, Micron is the only one operating in the U.S with Samsung &amp; SK Hynix based in South Korea. This geographical advantage has come to serve Micron well in the automobile memory market as I will proceed to prove later, although it can be argued that this very same factor has placed the 2 Korean companies in a better position to service the&nbsp;largest consumer of DRAMs&nbsp;by region - China. In 2019, China accounted for 55.42% of global DRAM consumption by region.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/17c2b471dd41b837a1ad129c180fa0b9\" tg-width=\"640\" tg-height=\"368\"><span>Source: Statista Global DRAM Market Share</span></p>\n<p>As of the latest fiscal quarter 21, DRAM sales represented&nbsp;71.26%&nbsp;of the company's total revenue. Although there may be the risk of concentration with a substantial portion of sales coming from 1 of the 3 main product offerings, DRAM chips have always represented the majority of the firm's sales. With favorable industry tailwinds, positive outlook regarding overall DRAM market dynamics, pricing power, and very likely higher margins as a result, this concentration of sales will likely also prove to be more of a boon than a bane for Micron in the current economic environment that we are in today.</p>\n<p>Historically, Micron has also retained a firm hold of their share in the DRAM market and has made an effort to gradually increase it overtime since CY 2016. The inherently high BTE and economies of scale in an oligopolistic market coupled with necessary high CAPEX spending serves to grant the dominant 3 a firm hold in the DRAM market for years to come. The chart below shows Micron holding a steady 20 - 23% market share since CY 15, testament to their persistent presence as a top 3 market player.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/371a886343d14f2ba3407afa02804db5\" tg-width=\"640\" tg-height=\"526\"><span>Source: Author's Compilations</span></p>\n<p>TAM: As DRAM products represent a majority of Micron's sales, it is imperative that the market they are operating in has a bright future and is on track to grow.According to MarketWatch,the global DRAM market revenue was valued at $62.1 BN in 2020 and is expected to grow to $91.1 BN by the end of 2026, representing a CAGR of 8%. With a sizable TAM in their leading product offering, the company should reap in the rewards of a growing market in terms of future revenue. As DRAM products also bring in higher margins at the end of the day based on CNBU and MBU (explained below) Operating Margins, this acts as a further catalyst for Micron.</p>\n<p>Micron also offers NAND products and though it represents a smaller chunk of Total Revenue relative to DRAMs, it still accounted for a meaningful&nbsp;26.46%&nbsp;as of Q2 FY 21. NAND chips are used for the storage of information. Slower than DRAMs for accessing memory quickly, they are 'non-volatile' as the content can still be accessed should the power supply be cut off. These are commonly found in hard drives, smartphones and data centers.</p>\n<p>Likewise, the dominant 3 in the DRAM market also represent a significant portion of the NAND market albeit having more competitors. In the NAND flash market, Micron ranks 5th worldwide, behind the same industry leader - Samsung. As of Q1 21, Samsung dominated with 33.5% market share, Kioxia 18.7%, Western Digital (WDC) 14.4%, SK Hynix 12.3%, and Micron with 11.1%. However, in a market very similar to that of DRAM, acquisitions by the big power players can be expected to further solidify their presence and chew out competitors. As it is, SK Hynix has&nbsp;announced plans to acquire&nbsp;Intel's NAND Storage Unit (INTC), which represented a 7.5% market share in the NAND market beginning this year. Moving forward, this move is likely to bump the Korean company up to 2nd place with about 20% of the market, overtaking Kioxia. It is important to note however that this acquisition does not include Intel's Optane 3D XPoint portfolio that Intel will be retaining.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2b8da20e0246607003c65afa09ff3998\" tg-width=\"640\" tg-height=\"403\"><span>Source: Statista Global NAND Flash Market Share</span></p>\n<p>Despite having more competition and less pricing power in this market, there too have been rumors that Micron is looking to make a move on Kioxia in a&nbsp;similar bid for $30 BN&nbsp;to enhance the competitiveness in its storage solutions in a rapidly growing NAND flash space. Western Digital also stands as a potential opposing bidder with both firms having merits as to why they should be the ideal one to acquire Kioxia. As of now, leverage seems to be in the hands of Micron as a firm with much more operating cashflow and a better balance sheet.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e220cb5c3b6dea5d0f84bde25765bfa\" tg-width=\"640\" tg-height=\"384\"><span>Source: Author's Compilations</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc8e8ee498e5b2469b09b1605b2ef98a\" tg-width=\"640\" tg-height=\"384\"><span>Source: Author's Compilations</span></p>\n<p>The $30 BN that Kioxia has been rumored to be valued at represents more than the entire Market Cap &amp; EV of Western Digital. Besides, the firm already has more Total Debt relative to Micron, lower Operating Cashflows, and has a lower LTM Current Ratio of 2.01 compared to the 3.18 that Micron has that speaks directly to MU's near term liquidity strength. Surface level financial analysis goes to show that this would be a deal likely to go to Micron despite WDC having a joint venture with Kioxia. Furthermore, Micron has a rather&nbsp;long history of acquisitions&nbsp;having acquired Numonyx, a NOR manufacturer in 2010, Elpida Memory &amp; Rexchip Electronics in 2013, Tidal Systems, Convey Computer, and Pico Computing in 2015, Inotera Memories in 2016… the list goes on. As you can see, Micron is quite the decorated acquiring firm.</p>\n<p>If successful, Micron's NAND dominance has the potential to leap from its 5th placing, 11.1% of the market share to 29.8%, placing them as the 2nd biggest player, just 370 Bps below that of Samsung, and this is after accounting for SK Hynix's recent acquisition of Intel's NAND operations.</p>\n<p><b>More Conviction</b></p>\n<p>For more conviction in our thesis, we can look to the performance and different TAMs in Micron's business units breakdown.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8953a521354fd97f74d0f8694e0a0ee6\" tg-width=\"640\" tg-height=\"204\"><span>Source: Micron's Q2 Investor Presentation</span></p>\n<p>As of FQ-2 21, CNBUs (Compute &amp; Networking Business Unit) as always represented the largest portion of the firm's sales, taking up 42% of TR. This unit consists of memory products like DRAM &amp; NAND sold to client, cloud servers, graphics, enterprise and networking markets as defined by the&nbsp;10-Q.The 34% YOY improvement is promising but the really exciting growth came from MBUs and remains to be seen in EBUs.</p>\n<p>MBUs (Mobile Business Unit) represent the 2nd biggest revenue segment for Micron, accounting for 29% of TR, up an impressive 44% YOY. MBUs are memory and storage products for mobile devices, most notably smartphones. According to&nbsp;Mordor Intelligence,the global smartphone market will be valued at more than a trillion dollars by 2026, up from the $715 BN in 2020, a CAGR of 11.6%. Although therein lies the risk that the smartphone replacement cycle has been lengthening, the gradual shift to 5G overtime will force smartphone users to have to upgrade to a 5G capable one that can operate on the same frequency. Doing so will mean more DRAM and NAND content per unit that Micron will stand to benefit from.</p>\n<p>However, what's being left out by many is Micron's dominant position in the memory market for automobiles and the sizable TAM in this space moving forward. EBUs (Embedded Business Unit) represent the 2nd smallest revenue segment (15% of TR) of the 4 that Micron has. This essentially refers to embedded memory and storage chips sold to automotive, industrial, and consumer markets. Despite not being the main cash cow for Micron, EBUs still saw remarkable growth of 34% YOY in FQ-2. Micron may have been 3rd in the overall DRAM space and 5th in the overall NAND space, but they are the only memory chip provider with a substantial close to&nbsp;50% market share&nbsp;in the space, according to Trendforce, a world leading market intelligence provider.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e31402367246f258d67658ada2e3a41e\" tg-width=\"640\" tg-height=\"229\"><span>Source: Micron's Automotive Division</span></p>\n<p>This is where the geographical advantage for Micron comes into play. Micron effectively leverages their collaborative relationships with Tier-1 automobile suppliers based in Europe and the U.S to service them their comprehensive product portfolio of automotive memory solutions ranging from&nbsp;DDR2 - DDR 4 solutions to LPDDR 2 -5 solutions.The pure growth in this space can be seen from the fact that the average DRAM content of cars will continue to grow at a CAGR of more than&nbsp;30% from 2021 - 2024.That is by far the biggest growth sector in any of Micron's Business Units moving forward and Micron's 30 years of leadership in the automobile memory space with no dominant position from Samsung or SK Hynix will come to serve them well in an era where we transition to EVs &amp; AVs.</p>\n<p>As it is, Tesla has already shown that new electric vehicles will be needing a lot more DRAM content and this trend will continue to play out as the world demands more cars with more technological capabilities. In its earlier Model S &amp; X, Tesla reached at least 8GB of DRAM content within the vehicles. The newer Model 3, however, is further equipped with 14GB of DRAM content and the&nbsp;next generation of Tesla Models will have even more at 20GB.</p>\n<p>The growing automobile memory space where Micron has maintained its underdog&nbsp;30-year leadership&nbsp;will come to serve them well in the future as we transition to more sustainable and green versions of automobiles that demand more memory as well. Just remember that the more software a device has, the more memory is needed. Hence, we should be able to see positive growth in the EBU segment moving forward. However, one thing to note is that the EBU segment consists of sales to other industries that may be lagging and as a whole, the Operating Margins(NASDAQ:OM)from this segment of 15% stands pale in comparison to the OM in the CNBU segment of 26.9% and 25.6% in MBUs.</p>\n<p><b>Industry Tailwinds</b></p>\n<p>Moving on to the industry outlook, Micron operates in a somewhat commoditized sector which experiences the extreme booms and busts of the demand cycle for PCs and Servers. Despite being a rather cyclical stock where the stock price is commanded largely by the DD and SS of computer chips and production capacity in general, it appears as if we are at the lows of the cycle and Micron remains to be one of the better plays for the ongoing global chip shortage as we begin the next leg up.</p>\n<p>For a brief explanation on how the memory chip market moves overtime, let me take a stab at it. In essence, the overall supply of memory chips - most of which is produced by the dominant 3 - relative to demand, dictates the prices of chips, and therefore affects the financials of companies.</p>\n<p>When the memory market is in a 'bull' cycle as it was in 2010, 2014, 2018, and forecasted DD is set to outpace production capacities by firms, it results in a near-term shortage where the dominant market players (MU included) have the power to raise prices and maximize revenues. As COGS remain relatively constant regardless of the commodity cycle, this eventually translates to higher Gross Margins(NYSE:GM)for firms, a higher EBITDA which coincides nicely with stock price outperformance, and likely a higher bottom line. Although market players tend to agree on CAPEX spending and limit production capacities as a hedge from overproduction, firms blinded by the profits and higher margins tend to chase 'gains' and make the most of the cycle by capturing as much market share as possible.</p>\n<p>When firms do that and start to ramp up capacity with no regard for agreed limitations on production capacity and CAPEX spend, overproduction usually ensues that overwhelms the already inflated DD that is now dwindling, resulting in a surplus which brings just about the opposite consequence. Firms then lose pricing power and experience compressing margins in the years to follow, before the slowdown in capacity because of this very surplus eventually dips below future forecasted DD, thereby kickstarting the next leg up because of a shortage.</p>\n<p>Looking to history, when Micron has enjoyed higher EBITDA during those bull commodity cycles when there is a shortage in the industry, the stock price tends to outperform as well, in line with the higher pricing power and margins the firm experiences.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/18c32366202010d3411e7888fcae587f\" tg-width=\"640\" tg-height=\"393\"><span>Source: Author's Compilations</span></p>\n<p>2018 represented the peak in the previous memory market commodity cycle where the dominant industry players overbuilt capacity chasing margins, and as a result experienced the surplus and its consequences since. Because EBITDA has been falling since 2018 and GM, OM, and NPM have all cumulatively been decreasing YOY, so has the stock price. However, we are now facing another shortage in the DRAM market as production has slowed since the resulting slowdown in 2018. This coupled with an unprecedented surge in demand for chips, fueled by the emerging hyper-growth industries brought forward by the pandemic sets the stage for Micron's potential rally up. With a transition to 5G, Electric and Autonomous Vehicles, Artificial Intelligence, IOTs, Cloud Computing, Cobotic Manufacturing and Healthcare Telemedicine, the convergence of these advanced technologies mean more demand for advanced memory solutions, and Micron stands to win from it all.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/060cf4c42cb775ea2a1d35cbd3b796e1\" tg-width=\"640\" tg-height=\"261\"><span>Source: Micron FQ-2 Investor Presentation</span></p>\n<p>The industry outlook only serves to confirm the shifting tides in the memory market, with the DRAM market facing a severe shortage and optimistic long-term demand growth at a CAGR around 15-19%. A shortage may not seem like good news, but for a dominant market player like Micron that can raise prices and aren't reliant on outsourced production, it is. For further confirmation we can look to the upwardly revised estimates regarding the rise in DRAM prices in Q1 and Q2 of 2021 by&nbsp;Trendforce:</p>\n<blockquote>\n Trendforce predicts that DRAM prices will rise 13-18% in the second quarter of 2021 &amp; they already rose 3-8% in the first quarter of 2021.\n</blockquote>\n<p>Call it inflation, call it whatever you want, but what I do know is that the higher prices in the DRAM market that has since manifested itself and has been forecasted to rise even higher will translate to higher profits for Micron. Market players are likely to make the most of this shortage as demand will not taper off given the fundamental need for memory chips against the backdrop of an era where advanced technologies are so rampant. Analysts too are forecasting improved revenues and earnings seen from the number of upward revisions and none downward in the last 3 months.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ff33c479a31ba4e4ee56a91be2d78318\" tg-width=\"456\" tg-height=\"111\"><span>Source: Seeking Alpha</span></p>\n<p>In the NAND market, although production output has been forecasted to be oversupplied due to increasing shipments, CY 21 demand is still expected to be around 30 - 35% and CAPEX cuts are likely to be implemented.</p>\n<p><b>Financials</b></p>\n<p>Q1 Revenue delivered 12% growth YOY, GM a 359 Bps improvement to 30.90% and NPM a 488 Bps growth YOY to a healthy 15.54%. Q2 delivered even better numbers, with Revenues coming in at $6.2 BN despite management guidance of $5.8 BN. GM further improved to 32.93% and NPM increased 731 Bps YOY to end the quarter with NPM at 18.09%. All of the above are NON-GAAP numbers.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/07766c05dc0d46a9660c290084da2442\" tg-width=\"640\" tg-height=\"209\"><span>Source: Micron FQ-2 Investor Presentation</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9d3f14c1b13fc41c6c44c29f8a947fb\" tg-width=\"451\" tg-height=\"145\"><span>Source: Seeking Alpha</span></p>\n<p>Management also has a history of beating estimates with 8 beats in the last 2 years, effectively delivering a 100% probability that it will beat its own guidance moving forward, although not a guarantee as with anything else in business and life. Yet, forward guidance for FQ-3 is expecting a 30% improvement in Revenues YOY and GM to further rise to 41.5%, compared to the 33.17% they did last year and 32.93% just last quarter. As for DEPS estimates, the $1.62 estimate given by management implies a remarkable 98% YOY increase. Analyst consensus estimates come in even higher than that for the upcoming FQ-3 earnings to be reported on&nbsp;6/30/21 (estimated), with analysts expecting EPS to be $1.68, indicative of a 105% change to the upside.</p>\n<p>As mentioned above, in a memory chip 'bull' cycle, pricing power comes into play and the higher prices usually tend to translate into stock outperformance driven by improvements in EBTIDA. Last I checked 1 -2 months ago, EBITDA EST for FY 21 stood around $9 BN and FY 22 EST was $16 BN. As of 26 May 21, those numbers have increased substantially to $12,772 for FY 21 and $20,228 for FY 22. Today, EST have improved yet again in the last 5 days to $12,801 for FY 21 and $20,551 for FY 22. For context, these new EST represent a 48% and 61% YOY improvement.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fe3bd33eeed49eebb87776a32f152e41\" tg-width=\"640\" tg-height=\"137\"><span>Source: Tikr</span></p>\n<p>Next, we'll examine cashflow. This is paramount in a high volatility time period like today, plagued with inflation concerns, widening federal deficits, and an ever-increasing Fed balance sheet. When inflation is rampant or at least fears of it are, high growth stocks and tech stocks tend to get crushed as the market rushes to reset the absurd valuation multiples justified last year with QE and money printing running at full steam. Since the US10Y (Interest rates) affects the DCF models, valuations for certain companies will be revised downwards with less upside, with the exception of high cashflow companies. Thus, cashflow generating firms are all the more important and likely to be favored moving forward, and yet again Micron is one of them.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/14d722c6a10e22e26e12a82be0a69481\" tg-width=\"640\" tg-height=\"125\"><span>Source: Tikr</span></p>\n<p>Although Cashflow from Operations have been steadily decreasing since 2018 where it reached a high of $17,400, I mentioned above that 2018 represented the peak of the bull cycle then where firms were chasing higher margins. 2019 - 2020 then represented the slowdown phase brought about by the surplus and after hitting a 3-year low of $8,306 in Cashflow from Operations in FY 20 that ended last August, Micron is likely ready to see substantial improvements moving forward, and EST do paint a similar picture.</p>\n<p>Analysts are expecting Cashflow from Operations to improve 49% YOY in FY 21 and a further 45% in FY 22. If that were to happen, that would bring cashflow close to $18 BN, which would be a record level cashflow generated from Operations for the firm. This also trickles down to FCF EST which represents the capital left for distribution after expenses related to operations have been taken care of and non-cash expenses have been reconciled.</p>\n<p>FCF EST come in at an outstanding $3,344 for FY 21 and is further expected to skyrocket to $8,148 in FY 21, from a meagre $83M last year. This pace of growth points to a close to 4000% YOY increase in FY 21 and a further 144% increase compounded on FY 21 numbers next year.</p>\n<p>Currently, Micron trades at an EV of around $93 BN. That represents a FCF Yield of 3.60% based on this year's EST, and an impressive 11.4% based on next year's numbers. With that, it is clear that Micron's future earnings and cashflow will serve them well in a macro environment riddled with inflation fears. This massive boost to FCF may just give them the capital they need to seal the deal with Kioxia.</p>\n<p><b>Risks</b></p>\n<p>No matter how sound an investment may be, every one of them carries risk, and so does choosing to invest in Micron. I know the article has been long thus far so I will try to keep it short to avoid boring my 1st time readers.</p>\n<p>With the high BTE's that are inherently present in the DRAM and NAND markets brought about by the large economies of scale and sheer market share the dominant 3 possess, it is hard for competitors to enter the market. Nonetheless, there have been a few attempts by Chinese companies to penetrate the market and steal market share.</p>\n<p>Government subsidies as part of the \"Made in China 2025\" plan has helped propel Chinese firms to pose a threat in the DRAM and NAND markets. Fujian Jinhua (JHICC) is one of them. As a Chinese state-owned DRAM manufacturer based in China, the firm is competing with Micron in the DRAM market as part of China's desire to gain self-sufficiency in the semiconductor industry. This is understandable given that they are the largest consumers of DRAM in the Asian-Pacific market. However, Fujian is currently facing&nbsp;prosecution&nbsp;for allegedly stealing Micron's trade secrets and proprietary information. With such bad press and a bad reputation just 4 years after being founded, it is unlikely this firm will make it far enough to compete with the likes of Micron.</p>\n<p>Changing industry tailwinds may also prove to be a headwind in the case that demand growth for DRAM and NAND devices slowdown. Increased CAPEX spending by Samsung and SK Hynix or the addition of new capacity could also severely impact Micron's competitive position in the market and an all-out race to buildout and ramp up capacity to capture more sales may eventually culminate in the loss of pricing power and compressed margins once again. However, given the number of upcoming industries where more advanced technologies demand more memory to store data, this probability is small in the near term at the very least.</p>\n<p>Other potential risks may include further unexpected impacts to Micron's power plants such as&nbsp;outages and floods&nbsp;similar to what happened in Taiwan last year.</p>\n<p><b>Valuation</b></p>\n<p>Finally, I will cover the valuations behind my upside optimism with Micron. The memory market has historically tended to trade based on the EV / EBITDA multiple. Because of this, I will use this as my prime valuation method but also use Forward PE's as secondary confirmation. The chart below represents the EV / EBITDA ratios that the dominant 3 have traded at since 2016.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00bc87a283f9420f33b1c7c52ad2f344\" tg-width=\"640\" tg-height=\"384\"><span>A005930 refers to Samsung and A000660 refers to SK Hynix</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb98c272aeec7c9aefdab00d22955f64\" tg-width=\"611\" tg-height=\"367\"><span>Source: Author's Compilations</span></p>\n<p>We can see that Micron has been trading at a Mean EV / EBITDA multiple of 5.49 since 2016 and is trading at 9.64 levels as of last. For a conservative estimate, I will assume a ratio of 8, which is above the industry average of 7.49 in the current environment we are in today but below levels Micron is currently trading at. For context, the firm has always traded above its peers during the bull commodity cycle in 2010, 2014, and 2018 as seen in the chart below. It is important to note that since markets are future discounting mechanisms, they price in future margin expansions and pricing power. As a result, the dominant 3 usually trade at the higher multiples 1 year before the peak of the cycle.</p>\n<p><img src=\"https://static.tigerbbs.com/c4effc3d3acfdad8726c391bb0872880\" tg-width=\"640\" tg-height=\"229\"></p>\n<p>Keeping in mind that Micron has traded at multiples of 29 in 2009, 12 in 2014 and 10 in the previous cycle, 8 would be a fair multiple to assume. EBITDA EST for FY 22 next year stand at $20,551.32 as seen in the picture displayed earlier on. That would imply an EV of $164,410.56 in 22, an upside of 77% based on today's EV of $93 BN. If so, that should carry the stock forward to levels of $148 USD by next year.</p>\n<p>If I were to assume a slightly aggressive and bullish multiple of 9 which is still below the peak of the prior cycle keeping in mind the law of diminishing returns, that would imply an upside of 99%, placing a price target of $167 USD for Micron.</p>\n<p>Since I'm a long-term investor and a conservative one, I'll stick with the $148 PT while my readers can keep the $167 potential price target in mind. I'm kidding, let's use the $148 PT which still offers a remarkable return relative to the S&amp;P 500.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e6626b3363e839c178999a3d2b48940\" tg-width=\"640\" tg-height=\"46\"><span>Source: Tikr</span></p>\n<p>The current estimates for Micron's future EPS are 5.56 for FY 21 and 10.93 for FY 22. Since we looked at FY 22 for the above valuation method, we shall maintain the same timeframe. Looking to the&nbsp;semiconductor industry, companies are trading at an average TTM P/E of 33.11 based on data from Q1.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ea91b1b8e3f714b2441d27be59a6c538\" tg-width=\"640\" tg-height=\"64\"><span>Source: CSI Market</span></p>\n<p>Micron is currently trading at a forward P/E FY 21 of 15.15 and a 7.7 based on FY 22 numbers. Assuming a fair multiple of 12, which is still below the high estimates of 15, that would give us a forward PT of $131.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9c6db0e4e02a94b2ed6ad9df84767cc9\" tg-width=\"640\" tg-height=\"110\"><span>Source: Seeking Alpha</span></p>\n<p><b>Final Takeaways</b></p>\n<p>Based on conservative estimates, the 2 valuation methods displayed above give us a PT for Micron of $131 based on the Forward P/E method and $148 if we were to use EV / EBITDA multiples. This represents a 56-77% upside potential.</p>\n<p>In this article we covered business model, market share, industry tailwinds with a heavy focus on TAMs, liquidity strength through current ratios, cashflow, risks, and of course valuations, all of which points to high probability of a bullish future for Micron Technology.</p>\n<p>I have noticed that there has been some&nbsp;concerns&nbsp;regarding price action lately and how the stock seems to be having trouble finding its footing given the pretty obvious bullish thesis, and they are valid in my opinion. For bearish near-term fundamentals, the above linked article would be a nice short read.</p>\n<p>I personally am a long-term investor and don't place much focus on the technicals and this helps keep me grounded. There may be a very good chance that Micron will continue to trend downwards before finding support and consolidate for its next leg up. As mentioned above, the stock seems to outperform 1 year before the peak of the memory cycle whenever that may be. Hence, the memory market is to be watched closely and investors must understand how changes in the dynamics of the market regarding production &amp; CAPEX levels can shift the tide quickly.</p>\n<p>As a result, I don't see Micron to be a buy and hold forever as share price performance falls very much in line with its own commodity cycle, EBITDA, and Margin performance, which will eventually come to an end when surplus hits the deck. Yet, for the next 1-2 years, Micron remains to be one of the best plays on the current global chip shortage. If Micron continues to trend downwards in the near term, so be it, but fundamentals always catch up and based on future estimates, there's likely only one way for the share price moving forward and that isn't down.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Micron: A Strong Chip Shortage Play</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\">\nMicron: A Strong Chip Shortage Play\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-06 11:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favourable outlooks.\nIndustry tailwinds point to pricing power and expanding margins.\nThe strong ...</p>\n\n<a href=\"https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技"},"source_url":"https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102972710","content_text":"Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favourable outlooks.\nIndustry tailwinds point to pricing power and expanding margins.\nThe strong financials of the company will serve them well in the current high-volatility environment.\n\nPhoto by vchal/iStock via Getty Images\nMicron Technology(NASDAQ:MU) is a severely undervalued semiconductor play with significant upside based upon conservative estimates, strong fundamentals, and favorable industry tailwinds. The current semiconductor shortage worldwide has put pressure upon semiconductor companies as they rush to ramp up production after an intentional slowdown and supply disruption amidst the pandemic. Forecasts and estimates regarding how fast demand was to bounce back came in entirely too conservative, and as a result the unprecedented surge in demand with a lagging supply has buyers of semiconductor chips such as auto manufacturers forced to slash production.\nSemiconductors of all kinds are the fundamental basic unit and brains of products ranging from audio devices, security cameras, automobiles, to even smart fridges. When it comes to a global shortage in a time as such, companies that are 'fabless' lose out and those that have their own manufacturing facilities and plants gain the upper hand as flexibility and production output remains in their ballpark. Today we examine how Micron is one of them, and despite its remarkable run up 54% since the start of 2020, there is considerable upside remaining given the size of the different total addressable markets(NYSE:TAM)that Micron is targeting.\nBusiness Model\nMicron is one of the top 3 memory chip makers in the world with a product portfolio featuring DRAM, NAND, NOR, and even 3D XPoint SSDs that they have since ceased production.Management guided that the decision comes amidst the findings that:\n\n There was insufficient market validation to justify the ongoing investments required to commercialize 3D XPoint at scale.\n\nAs promising as the 3D XPoint developments that Micron had that first started as a joint partnership with Intel in 2015 before parting ways in 2018 was, the impact moving forward will be minimal given that revenue from selling DRAM and NAND chips still accounts for the majority of Micron's Revenue, and 3D XPoint SSDs had yet to scale up.\nDRAM and NAND\nDRAM (Dynamic Random-Access Memory) devices are essentially a type of low latency memory product commonly used in PCs, servers, smartphones, and automobiles.\nIt is 'volatile' as content will be lost if the power supply is turned off. As such, DRAM devices store information that needs to be quickly accessed by the CPU / GPU. CPUs provide the raw computational power needed to run software programs and RAMs store the data and software code needed by the CPU to run in real-time.\nThe DRAM market operates as an oligopolistic one, with the 3 biggest competitors, Samsung (OTC:SSNLF), SK Hynix (OTC:HXSCL), and Micron dominating 94.1% of the market share. Samsung leads with 42% as of the latest fiscal quarter, SK Hynix second with 29% and Micron close behind with 23.1% of the market share.Amongst the 3, Micron is the only one operating in the U.S with Samsung & SK Hynix based in South Korea. This geographical advantage has come to serve Micron well in the automobile memory market as I will proceed to prove later, although it can be argued that this very same factor has placed the 2 Korean companies in a better position to service the largest consumer of DRAMs by region - China. In 2019, China accounted for 55.42% of global DRAM consumption by region.\nSource: Statista Global DRAM Market Share\nAs of the latest fiscal quarter 21, DRAM sales represented 71.26% of the company's total revenue. Although there may be the risk of concentration with a substantial portion of sales coming from 1 of the 3 main product offerings, DRAM chips have always represented the majority of the firm's sales. With favorable industry tailwinds, positive outlook regarding overall DRAM market dynamics, pricing power, and very likely higher margins as a result, this concentration of sales will likely also prove to be more of a boon than a bane for Micron in the current economic environment that we are in today.\nHistorically, Micron has also retained a firm hold of their share in the DRAM market and has made an effort to gradually increase it overtime since CY 2016. The inherently high BTE and economies of scale in an oligopolistic market coupled with necessary high CAPEX spending serves to grant the dominant 3 a firm hold in the DRAM market for years to come. The chart below shows Micron holding a steady 20 - 23% market share since CY 15, testament to their persistent presence as a top 3 market player.\nSource: Author's Compilations\nTAM: As DRAM products represent a majority of Micron's sales, it is imperative that the market they are operating in has a bright future and is on track to grow.According to MarketWatch,the global DRAM market revenue was valued at $62.1 BN in 2020 and is expected to grow to $91.1 BN by the end of 2026, representing a CAGR of 8%. With a sizable TAM in their leading product offering, the company should reap in the rewards of a growing market in terms of future revenue. As DRAM products also bring in higher margins at the end of the day based on CNBU and MBU (explained below) Operating Margins, this acts as a further catalyst for Micron.\nMicron also offers NAND products and though it represents a smaller chunk of Total Revenue relative to DRAMs, it still accounted for a meaningful 26.46% as of Q2 FY 21. NAND chips are used for the storage of information. Slower than DRAMs for accessing memory quickly, they are 'non-volatile' as the content can still be accessed should the power supply be cut off. These are commonly found in hard drives, smartphones and data centers.\nLikewise, the dominant 3 in the DRAM market also represent a significant portion of the NAND market albeit having more competitors. In the NAND flash market, Micron ranks 5th worldwide, behind the same industry leader - Samsung. As of Q1 21, Samsung dominated with 33.5% market share, Kioxia 18.7%, Western Digital (WDC) 14.4%, SK Hynix 12.3%, and Micron with 11.1%. However, in a market very similar to that of DRAM, acquisitions by the big power players can be expected to further solidify their presence and chew out competitors. As it is, SK Hynix has announced plans to acquire Intel's NAND Storage Unit (INTC), which represented a 7.5% market share in the NAND market beginning this year. Moving forward, this move is likely to bump the Korean company up to 2nd place with about 20% of the market, overtaking Kioxia. It is important to note however that this acquisition does not include Intel's Optane 3D XPoint portfolio that Intel will be retaining.\nSource: Statista Global NAND Flash Market Share\nDespite having more competition and less pricing power in this market, there too have been rumors that Micron is looking to make a move on Kioxia in a similar bid for $30 BN to enhance the competitiveness in its storage solutions in a rapidly growing NAND flash space. Western Digital also stands as a potential opposing bidder with both firms having merits as to why they should be the ideal one to acquire Kioxia. As of now, leverage seems to be in the hands of Micron as a firm with much more operating cashflow and a better balance sheet.\nSource: Author's Compilations\nSource: Author's Compilations\nThe $30 BN that Kioxia has been rumored to be valued at represents more than the entire Market Cap & EV of Western Digital. Besides, the firm already has more Total Debt relative to Micron, lower Operating Cashflows, and has a lower LTM Current Ratio of 2.01 compared to the 3.18 that Micron has that speaks directly to MU's near term liquidity strength. Surface level financial analysis goes to show that this would be a deal likely to go to Micron despite WDC having a joint venture with Kioxia. Furthermore, Micron has a rather long history of acquisitions having acquired Numonyx, a NOR manufacturer in 2010, Elpida Memory & Rexchip Electronics in 2013, Tidal Systems, Convey Computer, and Pico Computing in 2015, Inotera Memories in 2016… the list goes on. As you can see, Micron is quite the decorated acquiring firm.\nIf successful, Micron's NAND dominance has the potential to leap from its 5th placing, 11.1% of the market share to 29.8%, placing them as the 2nd biggest player, just 370 Bps below that of Samsung, and this is after accounting for SK Hynix's recent acquisition of Intel's NAND operations.\nMore Conviction\nFor more conviction in our thesis, we can look to the performance and different TAMs in Micron's business units breakdown.\nSource: Micron's Q2 Investor Presentation\nAs of FQ-2 21, CNBUs (Compute & Networking Business Unit) as always represented the largest portion of the firm's sales, taking up 42% of TR. This unit consists of memory products like DRAM & NAND sold to client, cloud servers, graphics, enterprise and networking markets as defined by the 10-Q.The 34% YOY improvement is promising but the really exciting growth came from MBUs and remains to be seen in EBUs.\nMBUs (Mobile Business Unit) represent the 2nd biggest revenue segment for Micron, accounting for 29% of TR, up an impressive 44% YOY. MBUs are memory and storage products for mobile devices, most notably smartphones. According to Mordor Intelligence,the global smartphone market will be valued at more than a trillion dollars by 2026, up from the $715 BN in 2020, a CAGR of 11.6%. Although therein lies the risk that the smartphone replacement cycle has been lengthening, the gradual shift to 5G overtime will force smartphone users to have to upgrade to a 5G capable one that can operate on the same frequency. Doing so will mean more DRAM and NAND content per unit that Micron will stand to benefit from.\nHowever, what's being left out by many is Micron's dominant position in the memory market for automobiles and the sizable TAM in this space moving forward. EBUs (Embedded Business Unit) represent the 2nd smallest revenue segment (15% of TR) of the 4 that Micron has. This essentially refers to embedded memory and storage chips sold to automotive, industrial, and consumer markets. Despite not being the main cash cow for Micron, EBUs still saw remarkable growth of 34% YOY in FQ-2. Micron may have been 3rd in the overall DRAM space and 5th in the overall NAND space, but they are the only memory chip provider with a substantial close to 50% market share in the space, according to Trendforce, a world leading market intelligence provider.\nSource: Micron's Automotive Division\nThis is where the geographical advantage for Micron comes into play. Micron effectively leverages their collaborative relationships with Tier-1 automobile suppliers based in Europe and the U.S to service them their comprehensive product portfolio of automotive memory solutions ranging from DDR2 - DDR 4 solutions to LPDDR 2 -5 solutions.The pure growth in this space can be seen from the fact that the average DRAM content of cars will continue to grow at a CAGR of more than 30% from 2021 - 2024.That is by far the biggest growth sector in any of Micron's Business Units moving forward and Micron's 30 years of leadership in the automobile memory space with no dominant position from Samsung or SK Hynix will come to serve them well in an era where we transition to EVs & AVs.\nAs it is, Tesla has already shown that new electric vehicles will be needing a lot more DRAM content and this trend will continue to play out as the world demands more cars with more technological capabilities. In its earlier Model S & X, Tesla reached at least 8GB of DRAM content within the vehicles. The newer Model 3, however, is further equipped with 14GB of DRAM content and the next generation of Tesla Models will have even more at 20GB.\nThe growing automobile memory space where Micron has maintained its underdog 30-year leadership will come to serve them well in the future as we transition to more sustainable and green versions of automobiles that demand more memory as well. Just remember that the more software a device has, the more memory is needed. Hence, we should be able to see positive growth in the EBU segment moving forward. However, one thing to note is that the EBU segment consists of sales to other industries that may be lagging and as a whole, the Operating Margins(NASDAQ:OM)from this segment of 15% stands pale in comparison to the OM in the CNBU segment of 26.9% and 25.6% in MBUs.\nIndustry Tailwinds\nMoving on to the industry outlook, Micron operates in a somewhat commoditized sector which experiences the extreme booms and busts of the demand cycle for PCs and Servers. Despite being a rather cyclical stock where the stock price is commanded largely by the DD and SS of computer chips and production capacity in general, it appears as if we are at the lows of the cycle and Micron remains to be one of the better plays for the ongoing global chip shortage as we begin the next leg up.\nFor a brief explanation on how the memory chip market moves overtime, let me take a stab at it. In essence, the overall supply of memory chips - most of which is produced by the dominant 3 - relative to demand, dictates the prices of chips, and therefore affects the financials of companies.\nWhen the memory market is in a 'bull' cycle as it was in 2010, 2014, 2018, and forecasted DD is set to outpace production capacities by firms, it results in a near-term shortage where the dominant market players (MU included) have the power to raise prices and maximize revenues. As COGS remain relatively constant regardless of the commodity cycle, this eventually translates to higher Gross Margins(NYSE:GM)for firms, a higher EBITDA which coincides nicely with stock price outperformance, and likely a higher bottom line. Although market players tend to agree on CAPEX spending and limit production capacities as a hedge from overproduction, firms blinded by the profits and higher margins tend to chase 'gains' and make the most of the cycle by capturing as much market share as possible.\nWhen firms do that and start to ramp up capacity with no regard for agreed limitations on production capacity and CAPEX spend, overproduction usually ensues that overwhelms the already inflated DD that is now dwindling, resulting in a surplus which brings just about the opposite consequence. Firms then lose pricing power and experience compressing margins in the years to follow, before the slowdown in capacity because of this very surplus eventually dips below future forecasted DD, thereby kickstarting the next leg up because of a shortage.\nLooking to history, when Micron has enjoyed higher EBITDA during those bull commodity cycles when there is a shortage in the industry, the stock price tends to outperform as well, in line with the higher pricing power and margins the firm experiences.\nSource: Author's Compilations\n2018 represented the peak in the previous memory market commodity cycle where the dominant industry players overbuilt capacity chasing margins, and as a result experienced the surplus and its consequences since. Because EBITDA has been falling since 2018 and GM, OM, and NPM have all cumulatively been decreasing YOY, so has the stock price. However, we are now facing another shortage in the DRAM market as production has slowed since the resulting slowdown in 2018. This coupled with an unprecedented surge in demand for chips, fueled by the emerging hyper-growth industries brought forward by the pandemic sets the stage for Micron's potential rally up. With a transition to 5G, Electric and Autonomous Vehicles, Artificial Intelligence, IOTs, Cloud Computing, Cobotic Manufacturing and Healthcare Telemedicine, the convergence of these advanced technologies mean more demand for advanced memory solutions, and Micron stands to win from it all.\nSource: Micron FQ-2 Investor Presentation\nThe industry outlook only serves to confirm the shifting tides in the memory market, with the DRAM market facing a severe shortage and optimistic long-term demand growth at a CAGR around 15-19%. A shortage may not seem like good news, but for a dominant market player like Micron that can raise prices and aren't reliant on outsourced production, it is. For further confirmation we can look to the upwardly revised estimates regarding the rise in DRAM prices in Q1 and Q2 of 2021 by Trendforce:\n\n Trendforce predicts that DRAM prices will rise 13-18% in the second quarter of 2021 & they already rose 3-8% in the first quarter of 2021.\n\nCall it inflation, call it whatever you want, but what I do know is that the higher prices in the DRAM market that has since manifested itself and has been forecasted to rise even higher will translate to higher profits for Micron. Market players are likely to make the most of this shortage as demand will not taper off given the fundamental need for memory chips against the backdrop of an era where advanced technologies are so rampant. Analysts too are forecasting improved revenues and earnings seen from the number of upward revisions and none downward in the last 3 months.\nSource: Seeking Alpha\nIn the NAND market, although production output has been forecasted to be oversupplied due to increasing shipments, CY 21 demand is still expected to be around 30 - 35% and CAPEX cuts are likely to be implemented.\nFinancials\nQ1 Revenue delivered 12% growth YOY, GM a 359 Bps improvement to 30.90% and NPM a 488 Bps growth YOY to a healthy 15.54%. Q2 delivered even better numbers, with Revenues coming in at $6.2 BN despite management guidance of $5.8 BN. GM further improved to 32.93% and NPM increased 731 Bps YOY to end the quarter with NPM at 18.09%. All of the above are NON-GAAP numbers.\nSource: Micron FQ-2 Investor Presentation\nSource: Seeking Alpha\nManagement also has a history of beating estimates with 8 beats in the last 2 years, effectively delivering a 100% probability that it will beat its own guidance moving forward, although not a guarantee as with anything else in business and life. Yet, forward guidance for FQ-3 is expecting a 30% improvement in Revenues YOY and GM to further rise to 41.5%, compared to the 33.17% they did last year and 32.93% just last quarter. As for DEPS estimates, the $1.62 estimate given by management implies a remarkable 98% YOY increase. Analyst consensus estimates come in even higher than that for the upcoming FQ-3 earnings to be reported on 6/30/21 (estimated), with analysts expecting EPS to be $1.68, indicative of a 105% change to the upside.\nAs mentioned above, in a memory chip 'bull' cycle, pricing power comes into play and the higher prices usually tend to translate into stock outperformance driven by improvements in EBTIDA. Last I checked 1 -2 months ago, EBITDA EST for FY 21 stood around $9 BN and FY 22 EST was $16 BN. As of 26 May 21, those numbers have increased substantially to $12,772 for FY 21 and $20,228 for FY 22. Today, EST have improved yet again in the last 5 days to $12,801 for FY 21 and $20,551 for FY 22. For context, these new EST represent a 48% and 61% YOY improvement.\nSource: Tikr\nNext, we'll examine cashflow. This is paramount in a high volatility time period like today, plagued with inflation concerns, widening federal deficits, and an ever-increasing Fed balance sheet. When inflation is rampant or at least fears of it are, high growth stocks and tech stocks tend to get crushed as the market rushes to reset the absurd valuation multiples justified last year with QE and money printing running at full steam. Since the US10Y (Interest rates) affects the DCF models, valuations for certain companies will be revised downwards with less upside, with the exception of high cashflow companies. Thus, cashflow generating firms are all the more important and likely to be favored moving forward, and yet again Micron is one of them.\nSource: Tikr\nAlthough Cashflow from Operations have been steadily decreasing since 2018 where it reached a high of $17,400, I mentioned above that 2018 represented the peak of the bull cycle then where firms were chasing higher margins. 2019 - 2020 then represented the slowdown phase brought about by the surplus and after hitting a 3-year low of $8,306 in Cashflow from Operations in FY 20 that ended last August, Micron is likely ready to see substantial improvements moving forward, and EST do paint a similar picture.\nAnalysts are expecting Cashflow from Operations to improve 49% YOY in FY 21 and a further 45% in FY 22. If that were to happen, that would bring cashflow close to $18 BN, which would be a record level cashflow generated from Operations for the firm. This also trickles down to FCF EST which represents the capital left for distribution after expenses related to operations have been taken care of and non-cash expenses have been reconciled.\nFCF EST come in at an outstanding $3,344 for FY 21 and is further expected to skyrocket to $8,148 in FY 21, from a meagre $83M last year. This pace of growth points to a close to 4000% YOY increase in FY 21 and a further 144% increase compounded on FY 21 numbers next year.\nCurrently, Micron trades at an EV of around $93 BN. That represents a FCF Yield of 3.60% based on this year's EST, and an impressive 11.4% based on next year's numbers. With that, it is clear that Micron's future earnings and cashflow will serve them well in a macro environment riddled with inflation fears. This massive boost to FCF may just give them the capital they need to seal the deal with Kioxia.\nRisks\nNo matter how sound an investment may be, every one of them carries risk, and so does choosing to invest in Micron. I know the article has been long thus far so I will try to keep it short to avoid boring my 1st time readers.\nWith the high BTE's that are inherently present in the DRAM and NAND markets brought about by the large economies of scale and sheer market share the dominant 3 possess, it is hard for competitors to enter the market. Nonetheless, there have been a few attempts by Chinese companies to penetrate the market and steal market share.\nGovernment subsidies as part of the \"Made in China 2025\" plan has helped propel Chinese firms to pose a threat in the DRAM and NAND markets. Fujian Jinhua (JHICC) is one of them. As a Chinese state-owned DRAM manufacturer based in China, the firm is competing with Micron in the DRAM market as part of China's desire to gain self-sufficiency in the semiconductor industry. This is understandable given that they are the largest consumers of DRAM in the Asian-Pacific market. However, Fujian is currently facing prosecution for allegedly stealing Micron's trade secrets and proprietary information. With such bad press and a bad reputation just 4 years after being founded, it is unlikely this firm will make it far enough to compete with the likes of Micron.\nChanging industry tailwinds may also prove to be a headwind in the case that demand growth for DRAM and NAND devices slowdown. Increased CAPEX spending by Samsung and SK Hynix or the addition of new capacity could also severely impact Micron's competitive position in the market and an all-out race to buildout and ramp up capacity to capture more sales may eventually culminate in the loss of pricing power and compressed margins once again. However, given the number of upcoming industries where more advanced technologies demand more memory to store data, this probability is small in the near term at the very least.\nOther potential risks may include further unexpected impacts to Micron's power plants such as outages and floods similar to what happened in Taiwan last year.\nValuation\nFinally, I will cover the valuations behind my upside optimism with Micron. The memory market has historically tended to trade based on the EV / EBITDA multiple. Because of this, I will use this as my prime valuation method but also use Forward PE's as secondary confirmation. The chart below represents the EV / EBITDA ratios that the dominant 3 have traded at since 2016.\nA005930 refers to Samsung and A000660 refers to SK Hynix\nSource: Author's Compilations\nWe can see that Micron has been trading at a Mean EV / EBITDA multiple of 5.49 since 2016 and is trading at 9.64 levels as of last. For a conservative estimate, I will assume a ratio of 8, which is above the industry average of 7.49 in the current environment we are in today but below levels Micron is currently trading at. For context, the firm has always traded above its peers during the bull commodity cycle in 2010, 2014, and 2018 as seen in the chart below. It is important to note that since markets are future discounting mechanisms, they price in future margin expansions and pricing power. As a result, the dominant 3 usually trade at the higher multiples 1 year before the peak of the cycle.\n\nKeeping in mind that Micron has traded at multiples of 29 in 2009, 12 in 2014 and 10 in the previous cycle, 8 would be a fair multiple to assume. EBITDA EST for FY 22 next year stand at $20,551.32 as seen in the picture displayed earlier on. That would imply an EV of $164,410.56 in 22, an upside of 77% based on today's EV of $93 BN. If so, that should carry the stock forward to levels of $148 USD by next year.\nIf I were to assume a slightly aggressive and bullish multiple of 9 which is still below the peak of the prior cycle keeping in mind the law of diminishing returns, that would imply an upside of 99%, placing a price target of $167 USD for Micron.\nSince I'm a long-term investor and a conservative one, I'll stick with the $148 PT while my readers can keep the $167 potential price target in mind. I'm kidding, let's use the $148 PT which still offers a remarkable return relative to the S&P 500.\nSource: Tikr\nThe current estimates for Micron's future EPS are 5.56 for FY 21 and 10.93 for FY 22. Since we looked at FY 22 for the above valuation method, we shall maintain the same timeframe. Looking to the semiconductor industry, companies are trading at an average TTM P/E of 33.11 based on data from Q1.\nSource: CSI Market\nMicron is currently trading at a forward P/E FY 21 of 15.15 and a 7.7 based on FY 22 numbers. Assuming a fair multiple of 12, which is still below the high estimates of 15, that would give us a forward PT of $131.\nSource: Seeking Alpha\nFinal Takeaways\nBased on conservative estimates, the 2 valuation methods displayed above give us a PT for Micron of $131 based on the Forward P/E method and $148 if we were to use EV / EBITDA multiples. This represents a 56-77% upside potential.\nIn this article we covered business model, market share, industry tailwinds with a heavy focus on TAMs, liquidity strength through current ratios, cashflow, risks, and of course valuations, all of which points to high probability of a bullish future for Micron Technology.\nI have noticed that there has been some concerns regarding price action lately and how the stock seems to be having trouble finding its footing given the pretty obvious bullish thesis, and they are valid in my opinion. For bearish near-term fundamentals, the above linked article would be a nice short read.\nI personally am a long-term investor and don't place much focus on the technicals and this helps keep me grounded. There may be a very good chance that Micron will continue to trend downwards before finding support and consolidate for its next leg up. As mentioned above, the stock seems to outperform 1 year before the peak of the memory cycle whenever that may be. Hence, the memory market is to be watched closely and investors must understand how changes in the dynamics of the market regarding production & CAPEX levels can shift the tide quickly.\nAs a result, I don't see Micron to be a buy and hold forever as share price performance falls very much in line with its own commodity cycle, EBITDA, and Margin performance, which will eventually come to an end when surplus hits the deck. Yet, for the next 1-2 years, Micron remains to be one of the best plays on the current global chip shortage. If Micron continues to trend downwards in the near term, so be it, but fundamentals always catch up and based on future estimates, there's likely only one way for the share price moving forward and that isn't down.","news_type":1},"isVote":1,"tweetType":1,"viewCount":126,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112642217,"gmtCreate":1622869066839,"gmtModify":1704192788013,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"Would most probably be a good opportunity to buy before WWDC","listText":"Would most probably be a good opportunity to buy before WWDC","text":"Would most probably be a good opportunity to buy before WWDC","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/112642217","repostId":"1158897173","repostType":4,"repost":{"id":"1158897173","pubTimestamp":1622813283,"share":"https://ttm.financial/m/news/1158897173?lang=&edition=fundamental","pubTime":"2021-06-04 21:28","market":"us","language":"en","title":"Should You Buy Apple Stock Before WWDC?","url":"https://stock-news.laohu8.com/highlight/detail?id=1158897173","media":"TheStreet","summary":"On June 7, Apple will host its annual WWDC event – as a virtual conference, just like 2020. The Apple Maven looked back at recent history to see how AAPL stock behaved around these events.Apple’s WWDC is just around the corner. The Cupertino company will virtually host the 32nd Worldwide Developers Conference, starting June 7. Rumor has it that Apple will announce five new software updates, including iOS 15 and macOS 12. Also, new hardware could be unveiled, but these announcements tend to be ra","content":"<p>On June 7, Apple will host its annual WWDC event – as a virtual conference, just like 2020. The Apple Maven looked back at recent history to see how AAPL stock behaved around these events.</p>\n<p>Apple’s WWDC is just around the corner. The Cupertino company will virtually host the 32nd Worldwide Developers Conference, starting June 7. Rumor has it that Apple will announce five new software updates, including iOS 15 and macOS 12. Also, new hardware could be unveiled, but these announcements tend to be rare during the developers’ conference.</p>\n<p>Today, the Apple Maven looks back at the most recent WWDC events to check how the stock behaved prior to and immediately after the conference.</p>\n<p>Before we dive in…</p>\n<p>Keep in mind that the Apple Maven will cover the event via&nbsp;<b>live blog</b>, starting at 9:45 a.m. Cupertino time (PDT), on June 7. Tune in to follow our analysis of Apple's WWDC presentation!</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e4af607bdf7b93f038263f4c2d0575f3\" tg-width=\"1240\" tg-height=\"697\"><span>Figure 1: Apple's 2021 WWDC.</span></p>\n<p><b>WWDC 2017: Apple stock hiccups</b></p>\n<p>The 2017 edition of WWDC took place between June 5 and June 9, 2017. At that time, three software updates were announced: the iOS 11, macOS High Sierra and tvOS. Also, hardware updates were unveiled, including the Mac, iPad and HomePod.</p>\n<p>Looking at the performance of Apple shares a week before until the end of the event, AAPL investors did not show much enthusiasm. The stock moved 3% lower, trading at that time at $37.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/186aecd588efc459ba0be3e423485612\" tg-width=\"818\" tg-height=\"281\"><span>Figure 2: AAPL 2017 chart.</span></p>\n<p><b>WWDC 2018: modest climb</b></p>\n<p>In 2018, WWDC was held from June 4 to June 8. iOS 12 was announced, and so were software updates for Mac and Watch. This time, there were no hardware announcements.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/01f8d4a6d1b8bb55730d84f348b32520\" tg-width=\"818\" tg-height=\"285\"><span>Figure 3: AAPL 2018 chart.</span></p>\n<p>From one week prior until the end of the event, WWDC 2018 may have brought optimism to investors, as shares climbed by 2%, trading at that time at nearly $48.</p>\n<p><b>WWDC 2019: the start of the ramp</b></p>\n<p>The 2019 conference was held from June 3 to June 7. iOS 13 and other software updates were announced for the Mac, Watch, TV and iPad. Apple also launched hardware updates on Mac.</p>\n<p>Apple stock behaved well, rising nearly 7% from a week before to the end of the event. In 2019, WWDC coincided with the beginning of a massive climb in AAPL share price that lasted until the end of the year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f8e261dd232ee1779ea1d89a8ebd4dd7\" tg-width=\"818\" tg-height=\"280\"><span>Figure 4: AAPL 2019 chart.</span></p>\n<p><b>WWDC 2020: riding the recovery</b></p>\n<p>For the first time, the 2020 version of WWDC was held online because of the COVID-19 pandemic. The conference happened from June 22 to June 26. At that time, iOS 14 was announced, alongside iPad, Watch, TV and Mac software updates.The highlight of the event&nbsp;was the announced transition to custom ARM processors for Mac.</p>\n<p>The stock was rebounding from the COVID-19 stock market crash at that time. Looking back at the period between a week prior to and the end of the event, shares were up 3%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6fa56b7f188ab147a30b9f13621f0024\" tg-width=\"814\" tg-height=\"281\"><span>Figure 5: AAPL 2020 chart.</span></p>\n<p><b>What history suggests</b></p>\n<p>It is hard to predict how Apple stock will behave in the near future. However, looking back at history, we can draw a few conclusions about AAPL share price behavior around WWDC in the last 5 years.</p>\n<p>Except for the 2017 conference, Apple caught an updraft around the WWDC weeks. Whether the performance is related to the event itself is a matter of interpretation.</p>\n<p><b>What to expect of WWDC 2021</b></p>\n<p>For this year’s WWDC, Apple will likely release the usual software updates. For investors, possible updates on the products and services front would be most meaningful.</p>\n<p>A possible successor for the M1 chip, a 27-inc Mac, a new MacBook Pro, updates on AR and VR technology and even hints about the Apple Car would certainly be highlights. Any of these potential developments, even if unlikely to happen, could give an extra impulse for Apple shares in the short- and mid-terms.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Should You Buy Apple Stock Before WWDC?</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\">\nShould You Buy Apple Stock Before WWDC?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 21:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/apple/stock/should-you-buy-apple-stock-before-wwdc><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>On June 7, Apple will host its annual WWDC event – as a virtual conference, just like 2020. The Apple Maven looked back at recent history to see how AAPL stock behaved around these events.\nApple’s ...</p>\n\n<a href=\"https://www.thestreet.com/apple/stock/should-you-buy-apple-stock-before-wwdc\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/stock/should-you-buy-apple-stock-before-wwdc","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158897173","content_text":"On June 7, Apple will host its annual WWDC event – as a virtual conference, just like 2020. The Apple Maven looked back at recent history to see how AAPL stock behaved around these events.\nApple’s WWDC is just around the corner. The Cupertino company will virtually host the 32nd Worldwide Developers Conference, starting June 7. Rumor has it that Apple will announce five new software updates, including iOS 15 and macOS 12. Also, new hardware could be unveiled, but these announcements tend to be rare during the developers’ conference.\nToday, the Apple Maven looks back at the most recent WWDC events to check how the stock behaved prior to and immediately after the conference.\nBefore we dive in…\nKeep in mind that the Apple Maven will cover the event via live blog, starting at 9:45 a.m. Cupertino time (PDT), on June 7. Tune in to follow our analysis of Apple's WWDC presentation!\nFigure 1: Apple's 2021 WWDC.\nWWDC 2017: Apple stock hiccups\nThe 2017 edition of WWDC took place between June 5 and June 9, 2017. At that time, three software updates were announced: the iOS 11, macOS High Sierra and tvOS. Also, hardware updates were unveiled, including the Mac, iPad and HomePod.\nLooking at the performance of Apple shares a week before until the end of the event, AAPL investors did not show much enthusiasm. The stock moved 3% lower, trading at that time at $37.\nFigure 2: AAPL 2017 chart.\nWWDC 2018: modest climb\nIn 2018, WWDC was held from June 4 to June 8. iOS 12 was announced, and so were software updates for Mac and Watch. This time, there were no hardware announcements.\nFigure 3: AAPL 2018 chart.\nFrom one week prior until the end of the event, WWDC 2018 may have brought optimism to investors, as shares climbed by 2%, trading at that time at nearly $48.\nWWDC 2019: the start of the ramp\nThe 2019 conference was held from June 3 to June 7. iOS 13 and other software updates were announced for the Mac, Watch, TV and iPad. Apple also launched hardware updates on Mac.\nApple stock behaved well, rising nearly 7% from a week before to the end of the event. In 2019, WWDC coincided with the beginning of a massive climb in AAPL share price that lasted until the end of the year.\nFigure 4: AAPL 2019 chart.\nWWDC 2020: riding the recovery\nFor the first time, the 2020 version of WWDC was held online because of the COVID-19 pandemic. The conference happened from June 22 to June 26. At that time, iOS 14 was announced, alongside iPad, Watch, TV and Mac software updates.The highlight of the event was the announced transition to custom ARM processors for Mac.\nThe stock was rebounding from the COVID-19 stock market crash at that time. Looking back at the period between a week prior to and the end of the event, shares were up 3%.\nFigure 5: AAPL 2020 chart.\nWhat history suggests\nIt is hard to predict how Apple stock will behave in the near future. However, looking back at history, we can draw a few conclusions about AAPL share price behavior around WWDC in the last 5 years.\nExcept for the 2017 conference, Apple caught an updraft around the WWDC weeks. Whether the performance is related to the event itself is a matter of interpretation.\nWhat to expect of WWDC 2021\nFor this year’s WWDC, Apple will likely release the usual software updates. For investors, possible updates on the products and services front would be most meaningful.\nA possible successor for the M1 chip, a 27-inc Mac, a new MacBook Pro, updates on AR and VR technology and even hints about the Apple Car would certainly be highlights. Any of these potential developments, even if unlikely to happen, could give an extra impulse for Apple shares in the short- and mid-terms.","news_type":1},"isVote":1,"tweetType":1,"viewCount":192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112657622,"gmtCreate":1622868469266,"gmtModify":1704192778368,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"A good growth stock?","listText":"A good growth stock?","text":"A good growth stock?","images":[{"img":"https://static.tigerbbs.com/50b5035604149aec6090dcf23f04334c","width":"1440","height":"4105"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/112657622","isVote":1,"tweetType":1,"viewCount":229,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":116177493,"gmtCreate":1622784296912,"gmtModify":1704191151804,"author":{"id":"3585791183119162","authorId":"3585791183119162","name":"BlackDiamond","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585791183119162","authorIdStr":"3585791183119162"},"themes":[],"htmlText":"Any recommendation for good platform to buy crypto?","listText":"Any recommendation for good platform to buy crypto?","text":"Any recommendation for good platform to buy crypto?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116177493","repostId":"1178835590","repostType":4,"isVote":1,"tweetType":1,"viewCount":378,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}