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2023-11-18

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@OptionsBB:Options Spy | Apple's puts are extended, Microsoft continues to be bullish

2023-11-18

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@ASX_Stars:Weekly | ELD & ALQ Soared on Earnings Beats

2023-11-18

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@Tiger_Academy:US stock market opening time change? All-year trading hours explained!

2023-05-18

2023-03-03

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@HLPA:Do I hold or buy more Keppel Corporation (BN4)shares on ex- entitlement (XE) today 23 Feb 2923? Keppel Corporation, BN4, share holders today will get 19.1 shares of Sembcorp Marine, S51, shares for every one BN4 share held. The shares will be credited to your trading account on 1st March, 2023. What should you do now? Lets take an example: You own 10,000 BN4 shares before 23Feb2023. The share closed at 7.34 yesterday. If you had sold at this price yesterday. you would get 73,400. Today, if you sell your BN4 say at 5.45 on XE, you will get 54,500 PLUS 191 00 shares and if you sell at 0.125 on 1st March, 2023, would realise 23,875.. In total you will get 54,500+23,875 = 78,375, giving about a 5,000 extra if you had not sold yesterday to earn the entitleme

2023-03-03

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@LMSunshine:How I Beat The Market By Analysing Economic Data & 🗞🗞🗞 Instead of “Buy the Rumor🗣🗣, Sell the News📰”

2023-02-28

$Tesla Motors(TSLA)$

2023-02-28

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@Daily_Discussion:🚀Share your strategy for making money on the market！(21 Feb)

2023-02-28

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@koolgal:🌟🌟🌟My Favourite Singapore Consumer Defensive Stock🌟🌟🌟

2023-02-28

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@MillionaireTiger:Rolls-Royce Share Soars 23%: The Truth about the Aviation Industry

2023-02-03

$Shopify(SHOP)$ Cool

2023-01-18

Cool

Tesla Shares Gained Another 1% in Premarket Trading

2023-01-01

$Union Financial Corp.(UFCP)$

2022-12-13

2022-12-13

$EOG Resources(EOG)$

2022-11-29

$Shopify(SHOP)$

2022-11-29

2022-11-26

2022-11-24

2022-11-23

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stocks","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.08.13","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a 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ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/242811971518464","repostId":"242472923078760","repostType":1,"repost":{"id":242472923078760,"gmtCreate":1700234608430,"gmtModify":1700235038427,"author":{"id":"3527667645834579","authorId":"3527667645834579","name":"OptionsBB","avatar":"https://community-static.tradeup.com/news/d77352af64bc1f2e2b196137b6c9a363","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667645834579","authorIdStr":"3527667645834579"},"themes":[],"title":"Options Spy | Apple's puts are extended, Microsoft continues to be bullish","htmlText":"Us Treasuries rose after economic data met expectations of a soft landing, reinforcing expectations that the Fed's interest rate hike cycle is over, and the main index of US stocks closed almost all higher on Thursday (16th).On the political and economic front, the U.S. Senate on Wednesday passed a two-stage appropriations stopgap spending bill proposed by House Speaker Jeb Johnson, which will be sent to Joe Biden to sign into law by a weekend deadline that risks extending the federal government until January.Reuters exclusively reported that Fed governors Philip Jefferson, Lisa Cook and Adriana Kugler wrote in a letter to Senator Rick Scott, It is unclear how long the Fed's balance sheet reduction process will last, but there is scope to continue, with the size of the balance sheet depend","listText":"Us Treasuries rose after economic data met expectations of a soft landing, reinforcing expectations that the Fed's interest rate hike cycle is over, and the main index of US stocks closed almost all higher on Thursday (16th).On the political and economic front, the U.S. Senate on Wednesday passed a two-stage appropriations stopgap spending bill proposed by House Speaker Jeb Johnson, which will be sent to Joe Biden to sign into law by a weekend deadline that risks extending the federal government until January.Reuters exclusively reported that Fed governors Philip Jefferson, Lisa Cook and Adriana Kugler wrote in a letter to Senator Rick Scott, It is unclear how long the Fed's balance sheet reduction process will last, but there is scope to continue, with the size of the balance sheet depend","text":"Us Treasuries rose after economic data met expectations of a soft landing, reinforcing expectations that the Fed's interest rate hike cycle is over, and the main index of US stocks closed almost all higher on Thursday (16th).On the political and economic front, the U.S. Senate on Wednesday passed a two-stage appropriations stopgap spending bill proposed by House Speaker Jeb Johnson, which will be sent to Joe Biden to sign into law by a weekend deadline that risks extending the federal government until January.Reuters exclusively reported that Fed governors Philip Jefferson, Lisa Cook and Adriana Kugler wrote in a letter to Senator Rick Scott, It is unclear how long the Fed's balance sheet reduction process will last, but there is scope to continue, with the size of the balance sheet depend","images":[{"img":"https://static.tigerbbs.com/8503b11f182366d048d952b7582fbedf","width":"2300","height":"360"},{"img":"https://static.tigerbbs.com/c310b723f7393c91be7944806911cf29","width":"2302","height":"1360"},{"img":"https://static.tigerbbs.com/79c1dc9345dd10e6ca28532ebe9737b9","width":"2304","height":"1342"}],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/242472923078760","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":7,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":242812465631248,"gmtCreate":1700317394046,"gmtModify":1700317398426,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093355554844670","authorIdStr":"4093355554844670"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/242812465631248","repostId":"242436918280296","repostType":1,"repost":{"id":242436918280296,"gmtCreate":1700225818195,"gmtModify":1700225834860,"author":{"id":"3527667671935448","authorId":"3527667671935448","name":"ASX_Stars","avatar":"https://community-static.tradeup.com/news/48bcfb89e2c095e8e61fbfabac76d78a","crmLevel":0,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667671935448","authorIdStr":"3527667671935448"},"themes":[],"title":"Weekly | ELD & ALQ Soared on Earnings Beats","htmlText":"As of the close on Friday,<a href=\"https://ttm.financial/S/XJO.AU\">$S&amp;P/ASX 200(XJO.AU)$</a>&nbsp;closed at 7,049.40 points, up 1.04%&nbsp;in&nbsp;the&nbsp;past&nbsp;5&nbsp;days.1. <a href=\"https://ttm.financial/S/ELD.AU\">$Elders(ELD.AU)$</a> skyrocketed 19.09% after releasing surprising FY 2023 resultsAchieved a 16% return on capital and a strong cash flow.Declared a 23 cents per share dividend, offering a 6.6% yield.CEO aimed for growth despite ongoing market challenges in FY 2024.2. <a href=\"https://ttm.financial/S/CMW.AU\">$Cromwell Corp(CMW.AU)$</a> added 14.67%&nbsp;Cromwell Corporation operates as a real estate investment trust. The Company owns and develops commercial properties.&nbsp;As there is no price-sensitive news related to Cromwell, the stock may rebound with the broader","listText":"As of the close on Friday,<a href=\"https://ttm.financial/S/XJO.AU\">$S&amp;P/ASX 200(XJO.AU)$</a>&nbsp;closed at 7,049.40 points, up 1.04%&nbsp;in&nbsp;the&nbsp;past&nbsp;5&nbsp;days.1. <a href=\"https://ttm.financial/S/ELD.AU\">$Elders(ELD.AU)$</a> skyrocketed 19.09% after releasing surprising FY 2023 resultsAchieved a 16% return on capital and a strong cash flow.Declared a 23 cents per share dividend, offering a 6.6% yield.CEO aimed for growth despite ongoing market challenges in FY 2024.2. <a href=\"https://ttm.financial/S/CMW.AU\">$Cromwell Corp(CMW.AU)$</a> added 14.67%&nbsp;Cromwell Corporation operates as a real estate investment trust. The Company owns and develops commercial properties.&nbsp;As there is no price-sensitive news related to Cromwell, the stock may rebound with the broader","text":"As of the close on Friday,$S&P/ASX 200(XJO.AU)$ closed at 7,049.40 points, up 1.04% in the past 5 days.1. $Elders(ELD.AU)$ skyrocketed 19.09% after releasing surprising FY 2023 resultsAchieved a 16% return on capital and a strong cash flow.Declared a 23 cents per share dividend, offering a 6.6% yield.CEO aimed for growth despite ongoing market challenges in FY 2024.2. $Cromwell Corp(CMW.AU)$ added 14.67% Cromwell Corporation operates as a real estate investment trust. The Company owns and develops commercial properties. As there is no price-sensitive news related to Cromwell, the stock may rebound with the broader","images":[{"img":"https://community-static.tradeup.com/news/2efea9c36f19d42da2e1ef9ddbc09f63","width":"1080","height":"1920"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/242436918280296","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":458,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":242811646177352,"gmtCreate":1700317373064,"gmtModify":1700317377059,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093355554844670","authorIdStr":"4093355554844670"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/242811646177352","repostId":"242389715460200","repostType":1,"repost":{"id":242389715460200,"gmtCreate":1700214294069,"gmtModify":1703746842272,"author":{"id":"4104455119105420","authorId":"4104455119105420","name":"Tiger_Academy","avatar":"https://static.tigerbbs.com/3776fe550cd7a945e43d68c025988ed8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4104455119105420","authorIdStr":"4104455119105420"},"themes":[],"title":"US stock market opening time change? All-year trading hours explained!","htmlText":"Hello Tigers!With the arrival of November and the onset of daylight saving time, many Tigers in the Asia-Pacific region have noticed a change in the opening and closing times of the US stock market.Why is this happening?How does the trading time for US stocks change during daylight saving time and standard time? In this article, I will provide you with the answers!Ⅰ. What is Daylight Saving Time?Daylight Saving Time (DST) is a time system implemented in various regions, especially in Europe and America, to conserve energy.During the summer, when there is longer daylight, some countries that observe DST will adjust the time forward by one hour. This allows people to wake up and work an hour earlier, maximizing the use of daylight and saving energy on lighting.When winter standard time arriv","listText":"Hello Tigers!With the arrival of November and the onset of daylight saving time, many Tigers in the Asia-Pacific region have noticed a change in the opening and closing times of the US stock market.Why is this happening?How does the trading time for US stocks change during daylight saving time and standard time? In this article, I will provide you with the answers!Ⅰ. What is Daylight Saving Time?Daylight Saving Time (DST) is a time system implemented in various regions, especially in Europe and America, to conserve energy.During the summer, when there is longer daylight, some countries that observe DST will adjust the time forward by one hour. This allows people to wake up and work an hour earlier, maximizing the use of daylight and saving energy on lighting.When winter standard time arriv","text":"Hello Tigers!With the arrival of November and the onset of daylight saving time, many Tigers in the Asia-Pacific region have noticed a change in the opening and closing times of the US stock market.Why is this happening?How does the trading time for US stocks change during daylight saving time and standard time? In this article, I will provide you with the answers!Ⅰ. What is Daylight Saving Time?Daylight Saving Time (DST) is a time system implemented in various regions, especially in Europe and America, to conserve energy.During the summer, when there is longer daylight, some countries that observe DST will adjust the time forward by one hour. This allows people to wake up and work an hour earlier, maximizing the use of daylight and saving energy on lighting.When winter standard time arriv","images":[{"img":"https://community-static.tradeup.com/news/502b2dccd5f90907dea0317c29f37529","width":"652","height":"250"},{"img":"https://community-static.tradeup.com/news/3b301e6deb397e111a42f29e4db6f0ab","width":"1440","height":"3052"},{"img":"https://community-static.tradeup.com/news/1336574732a2310233929be169d63a58","width":"1440","height":"3079"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/242389715460200","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":5,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9970618870,"gmtCreate":1684374735890,"gmtModify":1684374740288,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093355554844670","authorIdStr":"4093355554844670"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a>","text":"$Apple(AAPL)$","images":[{"img":"https://community-static.tradeup.com/news/64eb179fc4c7d2b037e3eedf68f390fe","width":"1170","height":"2292"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970618870","isVote":1,"tweetType":1,"viewCount":419,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9940892257,"gmtCreate":1677797725680,"gmtModify":1677797729342,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093355554844670","authorIdStr":"4093355554844670"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940892257","repostId":"9957805239","repostType":1,"repost":{"id":9957805239,"gmtCreate":1677133794221,"gmtModify":1677133800582,"author":{"id":"3569274903458035","authorId":"3569274903458035","name":"HLPA","avatar":"https://static.tigerbbs.com/07e7b987a9127c5a47dbc3ae02db548b","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3569274903458035","authorIdStr":"3569274903458035"},"themes":[],"htmlText":"Do I hold or buy more Keppel Corporation (BN4)shares&nbsp; on ex- entitlement&nbsp;(XE) today 23 Feb 2923? Keppel Corporation,&nbsp;BN4,&nbsp; share holders today will get 19.1 shares of Sembcorp Marine, S51,&nbsp;shares for every one BN4 share held. The shares will be credited to your trading account&nbsp;on 1st March, 2023. What should you do now? Lets take an example: You own 10,000 BN4 shares before 23Feb2023. The share closed at 7.34 yesterday. If you had sold at this price yesterday. you would get 73,400. Today, if you sell your&nbsp;BN4 say at 5.45 on XE, you will get 54,500 PLUS 191 00 shares and if you sell at 0.125 on 1st March, 2023, would realise 23,875.. In total you will get 54,500+23,875 = 78,375, giving about a 5,000 extra if you had not sold yesterday to earn the entitleme","listText":"Do I hold or buy more Keppel Corporation (BN4)shares&nbsp; on ex- entitlement&nbsp;(XE) today 23 Feb 2923? Keppel Corporation,&nbsp;BN4,&nbsp; share holders today will get 19.1 shares of Sembcorp Marine, S51,&nbsp;shares for every one BN4 share held. The shares will be credited to your trading account&nbsp;on 1st March, 2023. What should you do now? Lets take an example: You own 10,000 BN4 shares before 23Feb2023. The share closed at 7.34 yesterday. If you had sold at this price yesterday. you would get 73,400. Today, if you sell your&nbsp;BN4 say at 5.45 on XE, you will get 54,500 PLUS 191 00 shares and if you sell at 0.125 on 1st March, 2023, would realise 23,875.. In total you will get 54,500+23,875 = 78,375, giving about a 5,000 extra if you had not sold yesterday to earn the entitleme","text":"Do I hold or buy more Keppel Corporation (BN4)shares on ex- entitlement (XE) today 23 Feb 2923? Keppel Corporation, BN4, share holders today will get 19.1 shares of Sembcorp Marine, S51, shares for every one BN4 share held. The shares will be credited to your trading account on 1st March, 2023. What should you do now? Lets take an example: You own 10,000 BN4 shares before 23Feb2023. The share closed at 7.34 yesterday. If you had sold at this price yesterday. you would get 73,400. Today, if you sell your BN4 say at 5.45 on XE, you will get 54,500 PLUS 191 00 shares and if you sell at 0.125 on 1st March, 2023, would realise 23,875.. In total you will get 54,500+23,875 = 78,375, giving about a 5,000 extra if you had not sold yesterday to earn the entitleme","images":[],"top":1,"highlighted":2,"essential":2,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957805239","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":608,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9940892635,"gmtCreate":1677797713527,"gmtModify":1677797717476,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093355554844670","authorIdStr":"4093355554844670"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940892635","repostId":"9957259153","repostType":1,"repost":{"id":9957259153,"gmtCreate":1677308230173,"gmtModify":1677308851895,"author":{"id":"4113904591642392","authorId":"4113904591642392","name":"LMSunshine","avatar":"https://community-static.tradeup.com/news/0ad636f2490d8428fcee9da6d669e46c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4113904591642392","authorIdStr":"4113904591642392"},"themes":[],"title":"How I Beat The Market By Analysing Economic Data & 🗞🗞🗞 Instead of “Buy the Rumor🗣🗣, Sell the News📰”","htmlText":"\"Buy the rumor🗣🗣, sell the news📰” is a trading strategy that can be used by traders eyeing short-term profits. ✅ In this strategy, traders buy a security based on speculation about an upcoming 📰 event &amp; sell the security when that 📰 is announced. ❌ Disadvantages of the strategy include lack of accuracy &amp; potential loss of opportunity on decisions not made quickly enough💸💸💸 ➡️ A common example of “Buy the 🗣🗣, sell the 🗞🗞🗞” in the stock market is trading based on the expectation of a company's quarterly earnings report. Perhaps there's a rumor that a company is expected to provide more revenue to shareholders than previously thought. In that case, traders will buy the stock quickly to take advantage of increased dividends or stock prices. Once the company has its earnings call or mak","listText":"\"Buy the rumor🗣🗣, sell the news📰” is a trading strategy that can be used by traders eyeing short-term profits. ✅ In this strategy, traders buy a security based on speculation about an upcoming 📰 event &amp; sell the security when that 📰 is announced. ❌ Disadvantages of the strategy include lack of accuracy &amp; potential loss of opportunity on decisions not made quickly enough💸💸💸 ➡️ A common example of “Buy the 🗣🗣, sell the 🗞🗞🗞” in the stock market is trading based on the expectation of a company's quarterly earnings report. Perhaps there's a rumor that a company is expected to provide more revenue to shareholders than previously thought. In that case, traders will buy the stock quickly to take advantage of increased dividends or stock prices. Once the company has its earnings call or mak","text":"\"Buy the rumor🗣🗣, sell the news📰” is a trading strategy that can be used by traders eyeing short-term profits. ✅ In this strategy, traders buy a security based on speculation about an upcoming 📰 event & sell the security when that 📰 is announced. ❌ Disadvantages of the strategy include lack of accuracy & potential loss of opportunity on decisions not made quickly enough💸💸💸 ➡️ A common example of “Buy the 🗣🗣, sell the 🗞🗞🗞” in the stock market is trading based on the expectation of a company's quarterly earnings report. Perhaps there's a rumor that a company is expected to provide more revenue to shareholders than previously thought. In that case, traders will buy the stock quickly to take advantage of increased dividends or stock prices. Once the company has its earnings call or mak","images":[{"img":"https://community-static.tradeup.com/news/19eabe9671eeee46908059cb5b060ec3","width":"1241","height":"1213"},{"img":"https://community-static.tradeup.com/news/1641d31881234e5b8f380eabf9d6d7a6","width":"1242","height":"755"},{"img":"https://community-static.tradeup.com/news/0d4633d3f7a7027c2d311e7d83887179","width":"1242","height":"622"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957259153","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":6,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":421,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9940018494,"gmtCreate":1677594281919,"gmtModify":1677594284326,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093355554844670","authorIdStr":"4093355554844670"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$&nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$&nbsp;</a>","text":"$Tesla Motors(TSLA)$","images":[{"img":"https://community-static.tradeup.com/news/d6206d462d0fbeaf26e16562856ab541","width":"1170","height":"7587"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940018494","isVote":1,"tweetType":1,"viewCount":409,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9957712270,"gmtCreate":1677548743590,"gmtModify":1677548747003,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093355554844670","authorIdStr":"4093355554844670"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957712270","repostId":"9957940810","repostType":1,"repost":{"id":9957940810,"gmtCreate":1676947652930,"gmtModify":1676947672219,"author":{"id":"3527667621665671","authorId":"3527667621665671","name":"Daily_Discussion","avatar":"https://community-static.tradeup.com/news/6973ef3354e752778088dfd8ca725c82","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667621665671","authorIdStr":"3527667621665671"},"themes":[],"title":"🚀Share your strategy for making money on the market！(21 Feb)","htmlText":"Hi, Tigers!Welcome to&nbsp;Daily Discussion&nbsp;! This is the place for you to share your trading ideas and win coins!<a href=\"https://ttm.financial/RN?name=RNTheme&amp;page=/theme/detail&amp;rndata={&quot;themeId&quot;:&quot;470d3ab575ca43caaed8156645b7ccbe&quot;}\" target=\"_blank\">Click here to join the Topic &amp; Win coins &gt;&gt;</a>[Rewards]You will be given&nbsp;100 Tiger Coins according to the quality &amp; original of the post(NOTE: Comments posted under this article WILL NOT be counted)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.You will be given&nbsp;10 Tiger coins&nbsp;if you tag more than 3 friends in the comment areaMeanwhile, we will be listing the stocks mentioned by those selected Tigers for your","listText":"Hi, Tigers!Welcome to&nbsp;Daily Discussion&nbsp;! This is the place for you to share your trading ideas and win coins!<a href=\"https://ttm.financial/RN?name=RNTheme&amp;page=/theme/detail&amp;rndata={&quot;themeId&quot;:&quot;470d3ab575ca43caaed8156645b7ccbe&quot;}\" target=\"_blank\">Click here to join the Topic &amp; Win coins &gt;&gt;</a>[Rewards]You will be given&nbsp;100 Tiger Coins according to the quality &amp; original of the post(NOTE: Comments posted under this article WILL NOT be counted)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.You will be given&nbsp;10 Tiger coins&nbsp;if you tag more than 3 friends in the comment areaMeanwhile, we will be listing the stocks mentioned by those selected Tigers for your","text":"Hi, Tigers!Welcome to Daily Discussion ! This is the place for you to share your trading ideas and win coins!Click here to join the Topic & Win coins >>[Rewards]You will be given 100 Tiger Coins according to the quality & original of the post(NOTE: Comments posted under this article WILL NOT be counted) 2.You will be given 10 Tiger coins if you tag more than 3 friends in the comment areaMeanwhile, we will be listing the stocks mentioned by those selected Tigers for your","images":[{"img":"https://community-static.tradeup.com/news/fe5a74a31fa7a88c2b835cec224627f0","width":"-1","height":"-1"},{"img":"https://community-static.tradeup.com/news/7caf370a5ebea17f35c6439577f7eebd","width":"-1","height":"-1"},{"img":"https://community-static.tradeup.com/news/13ed89f2173135819bbaff263631f6c7","width":"-1","height":"-1"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957940810","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":3,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":480,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957712620,"gmtCreate":1677548733262,"gmtModify":1677548736986,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093355554844670","authorIdStr":"4093355554844670"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957712620","repostId":"9957161300","repostType":1,"repost":{"id":9957161300,"gmtCreate":1677107764901,"gmtModify":1677107772687,"author":{"id":"3559581955535845","authorId":"3559581955535845","name":"koolgal","avatar":"https://static.tigerbbs.com/c05274d88ffc0434623e57350c52c70a","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3559581955535845","authorIdStr":"3559581955535845"},"themes":[],"title":"🌟🌟🌟My Favourite Singapore Consumer Defensive Stock🌟🌟🌟","htmlText":"🌈🌈🌈My&nbsp; Favourite Singapore Consumer Defensive Stock is&nbsp;<a href=\"https://ttm.financial/S/OV8.SI\">$SHENG SIONG GROUP LTD(OV8.SI)$ &nbsp;</a>&nbsp;With high inflation here, Sheng Siong&nbsp;&nbsp;will be resilient and impervious to economic cycles. Sheng Siong is the 3rd largest supermarket chain in Singapore with more than 65 locations and 4&nbsp;supermarkets in China with the 5th opening in 2nd quarter&nbsp;2023.&nbsp; &nbsp;Sheng Siong represents value for money to many Singaporeans especially the housewives.&nbsp; Sheng Siong's gross profit margin was 29.4% for 3Q FY 2022 compared to 29% in&nbsp; 3Q FY 2021.&nbsp; Its revenue declined by 4.2% year on year to SGD 333.5 million due to the Covid 19 measures in place&nbsp;and the closure of Jurong Fishery Port for 2 weeks in July 20","listText":"🌈🌈🌈My&nbsp; Favourite Singapore Consumer Defensive Stock is&nbsp;<a href=\"https://ttm.financial/S/OV8.SI\">$SHENG SIONG GROUP LTD(OV8.SI)$ &nbsp;</a>&nbsp;With high inflation here, Sheng Siong&nbsp;&nbsp;will be resilient and impervious to economic cycles. Sheng Siong is the 3rd largest supermarket chain in Singapore with more than 65 locations and 4&nbsp;supermarkets in China with the 5th opening in 2nd quarter&nbsp;2023.&nbsp; &nbsp;Sheng Siong represents value for money to many Singaporeans especially the housewives.&nbsp; Sheng Siong's gross profit margin was 29.4% for 3Q FY 2022 compared to 29% in&nbsp; 3Q FY 2021.&nbsp; Its revenue declined by 4.2% year on year to SGD 333.5 million due to the Covid 19 measures in place&nbsp;and the closure of Jurong Fishery Port for 2 weeks in July 20","text":"🌈🌈🌈My Favourite Singapore Consumer Defensive Stock is $SHENG SIONG GROUP LTD(OV8.SI)$ With high inflation here, Sheng Siong will be resilient and impervious to economic cycles. Sheng Siong is the 3rd largest supermarket chain in Singapore with more than 65 locations and 4 supermarkets in China with the 5th opening in 2nd quarter 2023. Sheng Siong represents value for money to many Singaporeans especially the housewives. Sheng Siong's gross profit margin was 29.4% for 3Q FY 2022 compared to 29% in 3Q FY 2021. Its revenue declined by 4.2% year on year to SGD 333.5 million due to the Covid 19 measures in place and the closure of Jurong Fishery Port for 2 weeks in July 20","images":[{"img":"https://community-static.tradeup.com/news/2c419a8cdb4d4f8ec276838780f320ab","width":"1080","height":"2340"}],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957161300","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":745,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957712883,"gmtCreate":1677548721542,"gmtModify":1677548725028,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093355554844670","authorIdStr":"4093355554844670"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957712883","repostId":"9957651175","repostType":1,"repost":{"id":9957651175,"gmtCreate":1677232482197,"gmtModify":1677232780291,"author":{"id":"3527667618821228","authorId":"3527667618821228","name":"MillionaireTiger","avatar":"https://static.tigerbbs.com/dc558bf32e48ad6ed6d057026ef55af7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667618821228","authorIdStr":"3527667618821228"},"themes":[],"title":"Rolls-Royce Share Soars 23%: The Truth about the Aviation Industry","htmlText":"Rolls-Royce shares soar 23% after annual results beat expectations. Once the headline came out, people who can afford or cannot afford Rolls-Royce were shocked. In fact, Rolls-Royce's main business is aero-engines, now Rolls-Royce's car trademark already belongs to <a href=\"https://ttm.financial/S/BMWYY\">$Bayerische Motoren Werke AG(BMWYY)$</a>.&nbsp;The jewel in the crown of the industry: the engine that saved BritainIn 1906, two engineers set up a company in Manchester, England, with the aim of building automobiles.Later, in response to national demand, the company became involved in the aero-engine business, producing the Eagle engine that was used extensively in World War I Allied aircraft.By the end of the 1920s, aero engines had become the company's main business, and Hurricane and S","listText":"Rolls-Royce shares soar 23% after annual results beat expectations. Once the headline came out, people who can afford or cannot afford Rolls-Royce were shocked. In fact, Rolls-Royce's main business is aero-engines, now Rolls-Royce's car trademark already belongs to <a href=\"https://ttm.financial/S/BMWYY\">$Bayerische Motoren Werke AG(BMWYY)$</a>.&nbsp;The jewel in the crown of the industry: the engine that saved BritainIn 1906, two engineers set up a company in Manchester, England, with the aim of building automobiles.Later, in response to national demand, the company became involved in the aero-engine business, producing the Eagle engine that was used extensively in World War I Allied aircraft.By the end of the 1920s, aero engines had become the company's main business, and Hurricane and S","text":"Rolls-Royce shares soar 23% after annual results beat expectations. Once the headline came out, people who can afford or cannot afford Rolls-Royce were shocked. In fact, Rolls-Royce's main business is aero-engines, now Rolls-Royce's car trademark already belongs to $Bayerische Motoren Werke AG(BMWYY)$. The jewel in the crown of the industry: the engine that saved BritainIn 1906, two engineers set up a company in Manchester, England, with the aim of building automobiles.Later, in response to national demand, the company became involved in the aero-engine business, producing the Eagle engine that was used extensively in World War I Allied aircraft.By the end of the 1920s, aero engines had become the company's main business, and Hurricane and S","images":[{"img":"https://community-static.tradeup.com/news/2fa460c8625eabe5cb3fee0a9209759b","width":"-1","height":"-1"},{"img":"https://community-static.tradeup.com/news/bc089a237f538215de1cc13520175c8c","width":"-1","height":"-1"},{"img":"https://community-static.tradeup.com/news/6dbb44078d8c01cc5d4eec5807ed24e4","width":"-1","height":"-1"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957651175","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":6,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":499,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9955616217,"gmtCreate":1675384061340,"gmtModify":1676538998139,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093355554844670","authorIdStr":"4093355554844670"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SHOP\">$Shopify(SHOP)$&nbsp;</a>Cool","listText":"<a href=\"https://ttm.financial/S/SHOP\">$Shopify(SHOP)$&nbsp;</a>Cool","text":"$Shopify(SHOP)$ Cool","images":[{"img":"https://community-static.tradeup.com/news/05c342c9838cf6db45d688de8594b9a5","width":"1170","height":"7587"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9955616217","isVote":1,"tweetType":1,"viewCount":248,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9956278444,"gmtCreate":1674035516788,"gmtModify":1676538918582,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093355554844670","authorIdStr":"4093355554844670"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9956278444","repostId":"1124472902","repostType":4,"repost":{"id":"1124472902","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1674032729,"share":"https://ttm.financial/m/news/1124472902?lang=&edition=fundamental","pubTime":"2023-01-18 17:05","market":"us","language":"en","title":"Tesla Shares Gained Another 1% in Premarket Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1124472902","media":"Tiger Newspress","summary":"Tesla shares gained another 1% in premarket trading after surging 7.4% yesterday.Tesla dropped the b","content":"<html><head></head><body><p>Tesla shares gained another 1% in premarket trading after surging 7.4% yesterday.</p><p><img src=\"https://static.tigerbbs.com/0ff811973fa0b4515edc35c7436d9a02\" tg-width=\"802\" tg-height=\"616\" referrerpolicy=\"no-referrer\"/></p><p>Tesla dropped the bomb on the auto market with huge price cuts last week, and now Wall Street is catching up with post-game analysis, if you will.</p><p>In a note called “Analyzing the impact of reduced Tesla vehicle prices,” Goldman Sachs analyst Mark Delaney takes a glass-half-empty, half-full approach.</p><p>Delaney said the price cuts imply concern over reduced demand in the U.S.</p><p>“While the reduced prices for Models 3 and Y helps the company to better address the roughly 20%-30% of vehicles sold in the U.S. market in the $40K-$55K price band, the price cuts also imply that recent orders were tracking weakly,” Delaney wrote in a note to clients. “We therefore lower our EPS estimates on reduced ASPs (average selling price).”</p><p>On the flip side, reduced prices will boost volume of vehicles sold, and when factoring Tesla’s Giga factory expansions (Shanghai and reportedly Austin) and ramp ups, the automaker may actually be able to weather any drop in retail pricing, with improved efficiency.</p><p>“We see [stronger volumes] as important for Tesla’s vertically integrated model, especially as its new factories likely offer attractive unit economics at scale (we believe COGS per vehicle at the new Austin and Berlin factories over time will be closer to Shanghai than to Fremont, and in the low to mid $30K per vehicle range),” Delaney said.</p><p>In addition, Delaney believes higher volumes can act as a lever to increased “monetization opportunities,” as Tesla can market high-margin software and services offerings to new customers.</p><p>Finally, Tesla’s scale and unit economics are big competitive advantage versus traditional automakers, Delaney says, and any increase in volumes is a net negative for competitors. “The strategic implications of the price reductions (and the fact that investors were already anticipating at least some price reductions in our opinion) likely helps explains stock reactions on 1/13 with Tesla shares -1% (vs. the S&amp;P 500 flat) and ahead of competitors including Ford (-5%), GM (-5%) and RIVN (-6%),” Delaney noted.</p><p>The added pressure for Tesla’s competitors coming from reduced prices for the Model 3 and Model Y, combined with the IRA tax credits now being accessible for most of these vehicle versions, means competitors will be squeezed even more. With the new prices in place, Tesla’s Model 3 and Y stack up very well against the competition, Delaney said.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Shares Gained Another 1% in Premarket Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Shares Gained Another 1% in Premarket Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2023-01-18 17:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Tesla shares gained another 1% in premarket trading after surging 7.4% yesterday.</p><p><img src=\"https://static.tigerbbs.com/0ff811973fa0b4515edc35c7436d9a02\" tg-width=\"802\" tg-height=\"616\" referrerpolicy=\"no-referrer\"/></p><p>Tesla dropped the bomb on the auto market with huge price cuts last week, and now Wall Street is catching up with post-game analysis, if you will.</p><p>In a note called “Analyzing the impact of reduced Tesla vehicle prices,” Goldman Sachs analyst Mark Delaney takes a glass-half-empty, half-full approach.</p><p>Delaney said the price cuts imply concern over reduced demand in the U.S.</p><p>“While the reduced prices for Models 3 and Y helps the company to better address the roughly 20%-30% of vehicles sold in the U.S. market in the $40K-$55K price band, the price cuts also imply that recent orders were tracking weakly,” Delaney wrote in a note to clients. “We therefore lower our EPS estimates on reduced ASPs (average selling price).”</p><p>On the flip side, reduced prices will boost volume of vehicles sold, and when factoring Tesla’s Giga factory expansions (Shanghai and reportedly Austin) and ramp ups, the automaker may actually be able to weather any drop in retail pricing, with improved efficiency.</p><p>“We see [stronger volumes] as important for Tesla’s vertically integrated model, especially as its new factories likely offer attractive unit economics at scale (we believe COGS per vehicle at the new Austin and Berlin factories over time will be closer to Shanghai than to Fremont, and in the low to mid $30K per vehicle range),” Delaney said.</p><p>In addition, Delaney believes higher volumes can act as a lever to increased “monetization opportunities,” as Tesla can market high-margin software and services offerings to new customers.</p><p>Finally, Tesla’s scale and unit economics are big competitive advantage versus traditional automakers, Delaney says, and any increase in volumes is a net negative for competitors. “The strategic implications of the price reductions (and the fact that investors were already anticipating at least some price reductions in our opinion) likely helps explains stock reactions on 1/13 with Tesla shares -1% (vs. the S&amp;P 500 flat) and ahead of competitors including Ford (-5%), GM (-5%) and RIVN (-6%),” Delaney noted.</p><p>The added pressure for Tesla’s competitors coming from reduced prices for the Model 3 and Model Y, combined with the IRA tax credits now being accessible for most of these vehicle versions, means competitors will be squeezed even more. With the new prices in place, Tesla’s Model 3 and Y stack up very well against the competition, Delaney said.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124472902","content_text":"Tesla shares gained another 1% in premarket trading after surging 7.4% yesterday.Tesla dropped the bomb on the auto market with huge price cuts last week, and now Wall Street is catching up with post-game analysis, if you will.In a note called “Analyzing the impact of reduced Tesla vehicle prices,” Goldman Sachs analyst Mark Delaney takes a glass-half-empty, half-full approach.Delaney said the price cuts imply concern over reduced demand in the U.S.“While the reduced prices for Models 3 and Y helps the company to better address the roughly 20%-30% of vehicles sold in the U.S. market in the $40K-$55K price band, the price cuts also imply that recent orders were tracking weakly,” Delaney wrote in a note to clients. “We therefore lower our EPS estimates on reduced ASPs (average selling price).”On the flip side, reduced prices will boost volume of vehicles sold, and when factoring Tesla’s Giga factory expansions (Shanghai and reportedly Austin) and ramp ups, the automaker may actually be able to weather any drop in retail pricing, with improved efficiency.“We see [stronger volumes] as important for Tesla’s vertically integrated model, especially as its new factories likely offer attractive unit economics at scale (we believe COGS per vehicle at the new Austin and Berlin factories over time will be closer to Shanghai than to Fremont, and in the low to mid $30K per vehicle range),” Delaney said.In addition, Delaney believes higher volumes can act as a lever to increased “monetization opportunities,” as Tesla can market high-margin software and services offerings to new customers.Finally, Tesla’s scale and unit economics are big competitive advantage versus traditional automakers, Delaney says, and any increase in volumes is a net negative for competitors. “The strategic implications of the price reductions (and the fact that investors were already anticipating at least some price reductions in our opinion) likely helps explains stock reactions on 1/13 with Tesla shares -1% (vs. the S&P 500 flat) and ahead of competitors including Ford (-5%), GM (-5%) and RIVN (-6%),” Delaney noted.The added pressure for Tesla’s competitors coming from reduced prices for the Model 3 and Model Y, combined with the IRA tax credits now being accessible for most of these vehicle versions, means competitors will be squeezed even more. With the new prices in place, Tesla’s Model 3 and Y stack up very well against the competition, Delaney said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9927704387,"gmtCreate":1672583545649,"gmtModify":1676538707429,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4093355554844670","authorIdStr":"4093355554844670"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/UFCP\">$Union Financial Corp.(UFCP)$&nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/UFCP\">$Union Financial Corp.(UFCP)$&nbsp;</a>","text":"$Union Financial 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href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$</a>[What]&nbsp;","listText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$</a>[What]&nbsp;","text":"$Tesla Motors(TSLA)$[What]","images":[{"img":"https://community-static.tradeup.com/news/f4a4010884701998be3f45bb51ddf22f","width":"1170","height":"3095"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9904358520","isVote":1,"tweetType":1,"viewCount":30,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9968924588,"gmtCreate":1669106171344,"gmtModify":1676538152910,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4093355554844670","idStr":"4093355554844670"},"themes":[],"htmlText":"&nbsp;Cool","listText":"&nbsp;Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968924588","repostId":"2285386886","repostType":4,"repost":{"id":"2285386886","kind":"news","pubTimestamp":1669104486,"share":"https://ttm.financial/m/news/2285386886?lang=&edition=fundamental","pubTime":"2022-11-22 16:08","market":"us","language":"en","title":"Apple And Taiwan Semiconductor: Let's Ask Buffett","url":"https://stock-news.laohu8.com/highlight/detail?id=2285386886","media":"Seeking Alpha","summary":"SummaryAs a long-time Buffett cultist, I understand (not to say I am able to anticipate) most of his","content":"<html><head></head><body><h2>Summary</h2><ul><li>As a long-time Buffett cultist, I understand (not to say I am able to anticipate) most of his stock choices.</li><li>But from time to time, some of his choices still come as a surprise and his recent position in Taiwan Semiconductor is a notable example.</li><li>The choice is even more puzzling when viewed under the context of his largest holding, Apple.</li><li>There are certainly positives with Taiwan Semiconductor, that is, even when compared to Apple.</li><li>However, I see these positives easily overshadowed by the developing tension between them, which produces mutual but asymmetric damage.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/511f126f81b7dac4ef1687fe1d622bbe\" tg-width=\"1080\" tg-height=\"719\" referrerpolicy=\"no-referrer\"/><span>Jamie McCarthy</span></p><h2>The investment thesis</h2><p>As a long-time Buffett cultist, I feel comfortable saying that I understand most of his investment choices. But occasionally, the grandmaster still manages to make a move that surprises me such as his recent position in TaiwanSemiconductor (NYSE:TSM). To wit, the recent 13F disclosure showed that Buffett opened a sizable position in TSM for the Berkshire Hathaway (BRK.A) (BRK.B) equity portfolio. As you can see from the following chart, his BRK portfolio now holds more than 60.06M shares of TSM with a total worth of over $4.11B. The TSM position is currently the 10thlargest position in the BRK portfolio.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79878ff126c58641fbbd5a5aa3c0b334\" tg-width=\"640\" tg-height=\"363\" referrerpolicy=\"no-referrer\"/><span>Source: Dataroma.com</span></p><p>The surprise comes in several ways. And the more obvious ways (like Buffett’s allergy to tech businesses) have already been discussed by several other SA authors and I won’t further add to it anymore. Here, I want to explore an angle that is less discussed so far. I want to explain why it feels more puzzling to me, that is besides the fact that Buffett added another tech name to his BRK portfolio, when the TSM position is viewed under the context of his largest holding, Apple (NASDAQ:AAPL). There are certainly positives with TSM, that is, even when compared to AAPL. As we will detail in the next section, it is a high-quality stock in its own right. It boasts a large technological lead in its space and an R&amp;D yield that is even better than AAPL.</p><p>However, I see these positives easily overshadowed by the developing tension between them and also the ongoing deglobalization mega-trend. According to a recentnews report, TSM’s scheduled price raises in 2023 were rejected by AAPL, by far its largest customer. AAPL currently outsources almost all of its processor manufacturing to factories in Taiwan. However, with the U.S. strategic initiatives to push to develop domestic semiconductor foundry capabilities, AAPL (and other U.S. chip players such Advanced Micro Devices (AMD) and NVIDIA (NVDA) too) would be very likely to diversify its chip manufacturing away from TSM. And the damage will be mutual but asymmetric. It is easier for AAPL to find other foundry services to manufacture its chips, and a lot harder for TSM to find such large clients as AAPL.</p><p>The full impact of such tension and diversification will take time to fully manifest. And TSM’s role as the dominating high-end chipmaker in the world won’t change in the near term. But I see these recent events (such as AAPL’s rejection of the price raises and the recent passing of the CHIPS act) as the turning point. Taking a broader view, I see these events as a logical step, or even an inevitable step, in the deglobalization process – a mega force that has been unfolding for over 10 years as shown in the chart below. The chart illustrates how globalization, measured as the percentage of total exports out of global GDP, has been in decline since its peak in 2008. The percentage has declined from 61% in 2008 to the to 51.6% in 2020. And since 2020, the China-U.S. trade tension, the COVID, and the Russian/Ukraine war have further quickened its pace.</p><p>In the remainder of this article, I will further analyze the details of these above considerations in more detail.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df9d37af226f63d9047697f699ffa010\" tg-width=\"640\" tg-height=\"527\" referrerpolicy=\"no-referrer\"/><span>Source: The World Bank</span></p><h2>TSM’s valuation advantage</h2><p>First, as mentioned above, there are definitely many positives with TSM even when compared to AAPL. And valuation is an obvious place to start with. As a global leader in the foundry space, it is for sale at a fraction of the overall market and AAPL’s valuation as seen in the chart below.</p><p>To cite a few examples, TSM’s FY1 PE of 12.8x is almost only 1/2 of AAPL’s 24.2x. Its TTM PE of 13.08x is also about only 1/2 of AAPL’s 24.2x. Considering that these stocks have different leverages and enterprise values (“EV”), let&#39;s compare their multiples with leverages adjusted too. As you can see, TSM’s discount is even more dramatic in terms of EV/EBITDA multiples. TSM’s FW EV/EBITDA ratio sits at 7.64x only, less than ½ of AAPL’s 18.18x.</p><p>Yes, as you will see in the next section, TSM is a high-quality stock in its own right. It boasts a large technological lead in its space, further bolstered by its consistent R&amp;D investments and also superb R&amp;D yield that even surpasses AAPL.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cd9101b641f06753dca5fee60c5e18ff\" tg-width=\"640\" tg-height=\"496\" referrerpolicy=\"no-referrer\"/><span>Source: Seeking Alpha data</span></p><h2>TSM’s more consistent and aggressive R&amp;D</h2><p>As detailed in our earlier articles:</p><blockquote><i>We do not invest in a given tech stock because we have high confidence in a certain product that they are developing in the pipeline. Instead, we feel more comfortable betting on A) the recurring resources available to fund new R&amp;D efforts sustainably, and B) the overall efficiency of the R&amp;D PROCESS. So correspondingly, in the long run, I feel comfortable as long as a tech business can A) sustainably support new R&amp;D expenditures, and B) has demonstrated a consistent R&amp;D yield. I do not feel the need to particularly bet on any one of the new products to be a hit (or a complete failure).</i></blockquote><p>And both TSM and AAPL can sustainably fund their new R&amp;D efforts with no problem in the long term, as illustrated in the next chart. It shows their R&amp;D expenses over the past 10 years as a percentage of their total sales. A few key observations:</p><ul><li>TSM has been investing very consistently in R&amp;D efforts, on average about 8.0% of its total sales.</li><li>AAPL&#39;s R&amp;D expenses have been climbing since Tim Cook took over the company from Jobs. Jobs believed that innovation is not about money and it &#34;has nothing to do with how much R&amp;D money” a business put in. Then Cook gradually increased the R&amp;D investments to the current level of around 6.1% since 2018.</li><li>So even at AAPL’s current R&amp;D level, TSM is still outspending AAPL by about 200 basis points. And also note TSM’s consistency: the R&amp;D expenses only fluctuated in a very narrow range over the past 10 years.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/68ba62925d409c0646d95b62223ef4b9\" tg-width=\"640\" tg-height=\"355\" referrerpolicy=\"no-referrer\"/><span>Source: Author</span></p><p>More impressively, TSM’s yield on the R&amp;D investment is also superior to AAPL, which is already at a remarkable level by itself as shown in the next chart. The chart used Buffett’s $1 test on R&amp;D expenses. More specifically, the chart quantifies the R&amp;D yield by taking the ratio between profit and R&amp;D expenditures. Thus, the results show how many dollars of profit are generated per $1 of R&amp;D expenses. In particular, in this chart, my analysis used the operating cash flow (“OPC”) as the profit and also took a 3-year moving average on the OPC to approximate a 3-year R&amp;D cycle. And the key observations are:</p><ul><li>The R&amp;D yield is also consistent for TSM, with an average of $6.75 since 2014.</li><li>AAPL’s picture is a bit more colorful. Its R&amp;D yield has been astronomical ($10+ in 2013 and $8+ in 2014 and 2015) thanks to its almost monopoly status in key market segments in those days. Its R&amp;D yield has gradually declined to around ~$4.0 in recent years. And its long-term average was about $5.3.</li><li>To provide a broader view, the FAAMG group features an average R&amp;D yield of ~$2.5 in recent years.</li><li>Thus, both AAPL and TSM boast superb R&amp;D yields even when compared to the overachievers in the FAAMG pack, and TSM’s yield is even higher than AAPL by a large gap.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/72e8c1b1427c0babf39d38ec60269d28\" tg-width=\"640\" tg-height=\"340\" referrerpolicy=\"no-referrer\"/><span>Source: Author based on Seeking Alpha data</span></p><h2>Both enjoy high ROCE too, but AAPL is in its own category</h2><p>To me, ROCE (return on capital employed) is the most fundamental profitability metric as detailed in my blog article (with differences compared to ROE and Q&amp;A on the most frequently received questions from our readers). One key reason for its fundamental importance is that the long-term growth rate is governed by ROCE and reinvestment rate (“RR”) in the following simple way:</p><p>Long-Term Growth Rate = ROCE * RR</p><p>The ROCE of TSM and AAPL are shown below for the past 10 years. As you can see, TSM has been maintaining a high ROCE with remarkable consistency here. Its average ROCE has been about 42%. And I cannot overemphasize the consistency – which is a strong indicator of its stable moat. However, AAPL certainly has the upper hand here. Its ROCE is simply a category of its own. It has been hovering around an average of 125% since 2018 after its “declines” from an astronomical (and also unsustainable level in my view) of 200%+ earlier in the decade.</p><p>In terms of RR, both companies have sustainable capital allocation flexibility thanks to their strong cash generation. All told, my analysis shows that TSM has been maintaining an RR in the range between 7.5% to 10% in recent years, and AAPL about 5% to 7.5%.</p><p>So even without the trade tensions and deglobalization process aforementioned, I would project AAPL to have a much better perpetual growth curve ahead than TSM. I projected AAPL’s LT growth rate to be up to 10% (7.5% RR * 125% ROCE ~ 10% annual growth rate). And TSM’s growth rate, on the hand, would be limited to be in the mid-single digit range (say 4% = 10% RR * 42% ROCE).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/98b3ddd710705df7ba8e09cb93f9b81a\" tg-width=\"640\" tg-height=\"334\" referrerpolicy=\"no-referrer\"/><span>Source: Author based on Seeking Alpha data</span></p><h2>Risks and final thought</h2><p>But to reiterate, I do see the developing tension between TSM and AAPL and the deglobalization process as the overarching forces here. And I only see the differences in terms of valuation, R&amp;D yields, and profitability to be secondary forces in the years to come. The deglobalization mega-trend has been unfolding since 2008. And I see a series of recent events (such as AAPL’s rejection of TSM’s price raises, the CHIPS act, the ongoing U.S.-China trade frictions, and also the Russian/Ukraine war) to further exacerbate and accelerate the trend. Under such a mega-trend, I see it as inevitable that key chip clients (such as AAPL, AMD, and NVDA) diversify their manufacturing needs away from TSM.</p><p>And the bottom line is that damage will be mutual but asymmetric the way I see things. It is easier for AAPL to find replacement foundry services but a lot harder for TSM to find replacement clients at the scale of AAPL.</p><p><i>This article is written by Envision Research for reference only. Please note the risks.</i></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple And Taiwan Semiconductor: Let's Ask Buffett</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 And Taiwan Semiconductor: Let's Ask Buffett\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-22 16:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4559717-apple-and-taiwan-semiconductor-ask-buffett><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAs a long-time Buffett cultist, I understand (not to say I am able to anticipate) most of his stock choices.But from time to time, some of his choices still come as a surprise and his recent ...</p>\n\n<a href=\"https://seekingalpha.com/article/4559717-apple-and-taiwan-semiconductor-ask-buffett\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSM":"台积电","AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4559717-apple-and-taiwan-semiconductor-ask-buffett","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2285386886","content_text":"SummaryAs a long-time Buffett cultist, I understand (not to say I am able to anticipate) most of his stock choices.But from time to time, some of his choices still come as a surprise and his recent position in Taiwan Semiconductor is a notable example.The choice is even more puzzling when viewed under the context of his largest holding, Apple.There are certainly positives with Taiwan Semiconductor, that is, even when compared to Apple.However, I see these positives easily overshadowed by the developing tension between them, which produces mutual but asymmetric damage.Jamie McCarthyThe investment thesisAs a long-time Buffett cultist, I feel comfortable saying that I understand most of his investment choices. But occasionally, the grandmaster still manages to make a move that surprises me such as his recent position in TaiwanSemiconductor (NYSE:TSM). To wit, the recent 13F disclosure showed that Buffett opened a sizable position in TSM for the Berkshire Hathaway (BRK.A) (BRK.B) equity portfolio. As you can see from the following chart, his BRK portfolio now holds more than 60.06M shares of TSM with a total worth of over $4.11B. The TSM position is currently the 10thlargest position in the BRK portfolio.Source: Dataroma.comThe surprise comes in several ways. And the more obvious ways (like Buffett’s allergy to tech businesses) have already been discussed by several other SA authors and I won’t further add to it anymore. Here, I want to explore an angle that is less discussed so far. I want to explain why it feels more puzzling to me, that is besides the fact that Buffett added another tech name to his BRK portfolio, when the TSM position is viewed under the context of his largest holding, Apple (NASDAQ:AAPL). There are certainly positives with TSM, that is, even when compared to AAPL. As we will detail in the next section, it is a high-quality stock in its own right. It boasts a large technological lead in its space and an R&D yield that is even better than AAPL.However, I see these positives easily overshadowed by the developing tension between them and also the ongoing deglobalization mega-trend. According to a recentnews report, TSM’s scheduled price raises in 2023 were rejected by AAPL, by far its largest customer. AAPL currently outsources almost all of its processor manufacturing to factories in Taiwan. However, with the U.S. strategic initiatives to push to develop domestic semiconductor foundry capabilities, AAPL (and other U.S. chip players such Advanced Micro Devices (AMD) and NVIDIA (NVDA) too) would be very likely to diversify its chip manufacturing away from TSM. And the damage will be mutual but asymmetric. It is easier for AAPL to find other foundry services to manufacture its chips, and a lot harder for TSM to find such large clients as AAPL.The full impact of such tension and diversification will take time to fully manifest. And TSM’s role as the dominating high-end chipmaker in the world won’t change in the near term. But I see these recent events (such as AAPL’s rejection of the price raises and the recent passing of the CHIPS act) as the turning point. Taking a broader view, I see these events as a logical step, or even an inevitable step, in the deglobalization process – a mega force that has been unfolding for over 10 years as shown in the chart below. The chart illustrates how globalization, measured as the percentage of total exports out of global GDP, has been in decline since its peak in 2008. The percentage has declined from 61% in 2008 to the to 51.6% in 2020. And since 2020, the China-U.S. trade tension, the COVID, and the Russian/Ukraine war have further quickened its pace.In the remainder of this article, I will further analyze the details of these above considerations in more detail.Source: The World BankTSM’s valuation advantageFirst, as mentioned above, there are definitely many positives with TSM even when compared to AAPL. And valuation is an obvious place to start with. As a global leader in the foundry space, it is for sale at a fraction of the overall market and AAPL’s valuation as seen in the chart below.To cite a few examples, TSM’s FY1 PE of 12.8x is almost only 1/2 of AAPL’s 24.2x. Its TTM PE of 13.08x is also about only 1/2 of AAPL’s 24.2x. Considering that these stocks have different leverages and enterprise values (“EV”), let's compare their multiples with leverages adjusted too. As you can see, TSM’s discount is even more dramatic in terms of EV/EBITDA multiples. TSM’s FW EV/EBITDA ratio sits at 7.64x only, less than ½ of AAPL’s 18.18x.Yes, as you will see in the next section, TSM is a high-quality stock in its own right. It boasts a large technological lead in its space, further bolstered by its consistent R&D investments and also superb R&D yield that even surpasses AAPL.Source: Seeking Alpha dataTSM’s more consistent and aggressive R&DAs detailed in our earlier articles:We do not invest in a given tech stock because we have high confidence in a certain product that they are developing in the pipeline. Instead, we feel more comfortable betting on A) the recurring resources available to fund new R&D efforts sustainably, and B) the overall efficiency of the R&D PROCESS. So correspondingly, in the long run, I feel comfortable as long as a tech business can A) sustainably support new R&D expenditures, and B) has demonstrated a consistent R&D yield. I do not feel the need to particularly bet on any one of the new products to be a hit (or a complete failure).And both TSM and AAPL can sustainably fund their new R&D efforts with no problem in the long term, as illustrated in the next chart. It shows their R&D expenses over the past 10 years as a percentage of their total sales. A few key observations:TSM has been investing very consistently in R&D efforts, on average about 8.0% of its total sales.AAPL's R&D expenses have been climbing since Tim Cook took over the company from Jobs. Jobs believed that innovation is not about money and it \"has nothing to do with how much R&D money” a business put in. Then Cook gradually increased the R&D investments to the current level of around 6.1% since 2018.So even at AAPL’s current R&D level, TSM is still outspending AAPL by about 200 basis points. And also note TSM’s consistency: the R&D expenses only fluctuated in a very narrow range over the past 10 years.Source: AuthorMore impressively, TSM’s yield on the R&D investment is also superior to AAPL, which is already at a remarkable level by itself as shown in the next chart. The chart used Buffett’s $1 test on R&D expenses. More specifically, the chart quantifies the R&D yield by taking the ratio between profit and R&D expenditures. Thus, the results show how many dollars of profit are generated per $1 of R&D expenses. In particular, in this chart, my analysis used the operating cash flow (“OPC”) as the profit and also took a 3-year moving average on the OPC to approximate a 3-year R&D cycle. And the key observations are:The R&D yield is also consistent for TSM, with an average of $6.75 since 2014.AAPL’s picture is a bit more colorful. Its R&D yield has been astronomical ($10+ in 2013 and $8+ in 2014 and 2015) thanks to its almost monopoly status in key market segments in those days. Its R&D yield has gradually declined to around ~$4.0 in recent years. And its long-term average was about $5.3.To provide a broader view, the FAAMG group features an average R&D yield of ~$2.5 in recent years.Thus, both AAPL and TSM boast superb R&D yields even when compared to the overachievers in the FAAMG pack, and TSM’s yield is even higher than AAPL by a large gap.Source: Author based on Seeking Alpha dataBoth enjoy high ROCE too, but AAPL is in its own categoryTo me, ROCE (return on capital employed) is the most fundamental profitability metric as detailed in my blog article (with differences compared to ROE and Q&A on the most frequently received questions from our readers). One key reason for its fundamental importance is that the long-term growth rate is governed by ROCE and reinvestment rate (“RR”) in the following simple way:Long-Term Growth Rate = ROCE * RRThe ROCE of TSM and AAPL are shown below for the past 10 years. As you can see, TSM has been maintaining a high ROCE with remarkable consistency here. Its average ROCE has been about 42%. And I cannot overemphasize the consistency – which is a strong indicator of its stable moat. However, AAPL certainly has the upper hand here. Its ROCE is simply a category of its own. It has been hovering around an average of 125% since 2018 after its “declines” from an astronomical (and also unsustainable level in my view) of 200%+ earlier in the decade.In terms of RR, both companies have sustainable capital allocation flexibility thanks to their strong cash generation. All told, my analysis shows that TSM has been maintaining an RR in the range between 7.5% to 10% in recent years, and AAPL about 5% to 7.5%.So even without the trade tensions and deglobalization process aforementioned, I would project AAPL to have a much better perpetual growth curve ahead than TSM. I projected AAPL’s LT growth rate to be up to 10% (7.5% RR * 125% ROCE ~ 10% annual growth rate). And TSM’s growth rate, on the hand, would be limited to be in the mid-single digit range (say 4% = 10% RR * 42% ROCE).Source: Author based on Seeking Alpha dataRisks and final thoughtBut to reiterate, I do see the developing tension between TSM and AAPL and the deglobalization process as the overarching forces here. And I only see the differences in terms of valuation, R&D yields, and profitability to be secondary forces in the years to come. The deglobalization mega-trend has been unfolding since 2008. And I see a series of recent events (such as AAPL’s rejection of TSM’s price raises, the CHIPS act, the ongoing U.S.-China trade frictions, and also the Russian/Ukraine war) to further exacerbate and accelerate the trend. Under such a mega-trend, I see it as inevitable that key chip clients (such as AAPL, AMD, and NVDA) diversify their manufacturing needs away from TSM.And the bottom line is that damage will be mutual but asymmetric the way I see things. It is easier for AAPL to find replacement foundry services but a lot harder for TSM to find replacement clients at the scale of AAPL.This article is written by Envision Research for reference only. Please note the risks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":78,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9917841315,"gmtCreate":1665485418037,"gmtModify":1676537614597,"author":{"id":"4093355554844670","authorId":"4093355554844670","name":"Carllimtc","avatar":"https://community-static.tradeup.com/news/f8628fb981b9ce433e6cb31731209cbf","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4093355554844670","idStr":"4093355554844670"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/EOG\">$EOG Resources(EOG)$</a>Cool","listText":"<a href=\"https://ttm.financial/S/EOG\">$EOG Resources(EOG)$</a>Cool","text":"$EOG 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