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Roy ong and Motorless are gay boy

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Roy ong and Motorless are gay boy

11-07

$DBS Group Holdings(D05.SI)$

Roy ong and Motorless are gay boy

11-01

$NVIDIA Corp(NVDA)$

Roy ong and Motorless are gay boy

11-01

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10-31

$SUPER MICRO COMPUTER INC(SMCI)$

Super Micro Shares Tank over 33% as Ernst & Young Resigns as Its Accountant

Roy ong and Motorless are gay boy

10-31

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Roy ong and Motorless are gay boy

10-27

Great article, would you like to share it?

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Roy ong and Motorless are gay boy

10-27

Replying to @icycrystal:SKY NG LENG HWEE//@icycrystal:not sure if it's the best time to invest in Chinese stock since it seems to have not recover... however, on the other hand, it may be an opportunity to buy at a good price and wait for its recovery... @LMSunshine @rL @

Roy ong and Motorless are gay boy

10-27

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10-27

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10-26

SKY NG LENG HWEE

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10-26

SKY NG LENG HWEE

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10-26

SKY NG LENG HWEE

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10-26

NG LENG HWEE

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10-26

Roy NG LENG HWEE

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10-26

Roy NG LENG HWEE

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10-24

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10-24

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Roy ong and Motorless are gay boy

10-22

Roy NG LENG HWEE

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Roy ong and Motorless are gay boy

10-22

Roy NG LENG HWEE

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Roy ong and Motorless are gay boy

10-22

NG LENG HWEE

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&#34;accounting manipulation&#34; at the AI server maker.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9b5e45ec9c24dd7c070ef0ad74421591\" tg-width=\"786\" tg-height=\"633\"/></p><p style=\"text-align: start;\">Ernst &amp; Young in its resignation letter said it was “unwilling to be associated with the financial statements prepared by management.” The accountancy also raised concerns about the board’s independence from CEO Charles Laing and “other members of management.”</p><p style=\"text-align: start;\">EY had been hired to audit Super Micro for the first time for the 2024 fiscal year, the company said. 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It paid a $17.5 million penalty to the Securities and Exchange Commission in 2020 after the regulator alleged it prematurely and improperly recorded revenue.</p><p style=\"text-align: start;\">The company hired law firm Cooley and a forensic accounting firm to review Super Micro’s internal controls. That review remains ongoing, the company said in a regulatory filing.</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>Super Micro Shares Tank over 33% as Ernst & Young Resigns as Its Accountant</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\">\nSuper Micro Shares Tank over 33% as Ernst & Young Resigns as Its Accountant\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1006801671\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">TH-Reuters </p>\n<p class=\"h-time\">2024-10-30 21:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/SMCI\">Super Micro Computer </a> shares slumped 33.75% in morning trading on Wednesday after it said Ernst &amp; Young had resigned as its public accounting firm, over a month after Hindenburg Research alleged &#34;accounting manipulation&#34; at the AI server maker.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9b5e45ec9c24dd7c070ef0ad74421591\" tg-width=\"786\" tg-height=\"633\"/></p><p style=\"text-align: start;\">Ernst &amp; Young in its resignation letter said it was “unwilling to be associated with the financial statements prepared by management.” The accountancy also raised concerns about the board’s independence from CEO Charles Laing and “other members of management.”</p><p style=\"text-align: start;\">EY had been hired to audit Super Micro for the first time for the 2024 fiscal year, the company said. Super Micro has still not issued its financial statements for this year, and is reportedly under federal investigation.</p><p style=\"text-align: start;\">The auditor first flagged issues with Super Micro’s internal financial controls, governance and forthcomingness in late July, prompting the server firm to appoint a special board committee to investigate the company’s internal controls.</p><p style=\"text-align: start;\">“We are resigning due to information that has recently come to our attention which has led us to no longer be able to rely on management’s and the Audit Committee’s representations,” EY said in its resignation letter. EY’s concerns were raised prior to a short-seller report that took aim at Super Micro’s financial controls and accounting practices.</p><p style=\"text-align: start;\">Super Micro has run into trouble with regulators over its accounting practices before. It paid a $17.5 million penalty to the Securities and Exchange Commission in 2020 after the regulator alleged it prematurely and improperly recorded revenue.</p><p style=\"text-align: start;\">The company hired law firm Cooley and a forensic accounting firm to review Super Micro’s internal controls. That review remains ongoing, the company said in a regulatory filing.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SMCI":"超微电脑"},"source_url":"https://www.streetinsider.com/Corporate+News/Super+Micro+Computers+%28SMCI%29+Certifying+Accountant+Ernst+%26+Young+Resigns/23899201.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190757025","content_text":"Super Micro Computer  shares slumped 33.75% in morning trading on Wednesday after it said Ernst & Young had resigned as its public accounting firm, over a month after Hindenburg Research alleged \"accounting manipulation\" at the AI server maker.Ernst & Young in its resignation letter said it was “unwilling to be associated with the financial statements prepared by management.” The accountancy also raised concerns about the board’s independence from CEO Charles Laing and “other members of management.”EY had been hired to audit Super Micro for the first time for the 2024 fiscal year, the company said. Super Micro has still not issued its financial statements for this year, and is reportedly under federal investigation.The auditor first flagged issues with Super Micro’s internal financial controls, governance and forthcomingness in late July, prompting the server firm to appoint a special board committee to investigate the company’s internal controls.“We are resigning due to information that has recently come to our attention which has led us to no longer be able to rely on management’s and the Audit Committee’s representations,” EY said in its resignation letter. EY’s concerns were raised prior to a short-seller report that took aim at Super Micro’s financial controls and accounting practices.Super Micro has run into trouble with regulators over its accounting practices before. It paid a $17.5 million penalty to the Securities and Exchange Commission in 2020 after the regulator alleged it prematurely and improperly recorded revenue.The company hired law firm Cooley and a forensic accounting firm to review Super Micro’s internal controls. That review remains ongoing, the company said in a regulatory filing.","news_type":1},"isVote":1,"tweetType":1,"viewCount":51,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365778005541016,"gmtCreate":1730341381066,"gmtModify":1730341383560,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, 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/365778005541016","repostId":"1124461623","repostType":2,"isVote":1,"tweetType":1,"viewCount":16,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364428837994648,"gmtCreate":1729982124460,"gmtModify":1729982128507,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, 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/364428837994648","repostId":"1151660016","repostType":4,"isVote":1,"tweetType":1,"viewCount":8,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364394469748904,"gmtCreate":1729973734182,"gmtModify":1729997866340,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"Replying to <a href=\"https://ttm.financial/U/4132300740238052\">@icycrystal</a>:SKY NG LENG HWEE//<a href=\"https://ttm.financial/U/4132300740238052\">@icycrystal</a>:not sure if it's the best time to invest in Chinese stock since it seems to have not recover... however, on the other hand, it may be an opportunity to buy at a good price and wait for its recovery... <a href=\"https://ttm.financial/U/4113904591642392\"> @</a><a href=\"https://ttm.financial/U/4113904591642392\">LMSunshine</a><a href=\"https://ttm.financial/U/4113904591642392\"> </a><a href=\"https://ttm.financial/U/4100927749199030\"> @</a><a href=\"https://ttm.financial/U/4100927749199030\">rL</a><a href=\"https://ttm.financial/U/4100927749199030\"> </a><a href=\"https://ttm.financial/U/3581735774790928\"> @</a>","listText":"Replying to <a href=\"https://ttm.financial/U/4132300740238052\">@icycrystal</a>:SKY NG LENG HWEE//<a href=\"https://ttm.financial/U/4132300740238052\">@icycrystal</a>:not sure if it's the best time to invest in Chinese stock since it seems to have not recover... however, on the other hand, it may be an opportunity to buy at a good price and wait for its recovery... <a href=\"https://ttm.financial/U/4113904591642392\"> @</a><a href=\"https://ttm.financial/U/4113904591642392\">LMSunshine</a><a href=\"https://ttm.financial/U/4113904591642392\"> </a><a href=\"https://ttm.financial/U/4100927749199030\"> @</a><a href=\"https://ttm.financial/U/4100927749199030\">rL</a><a href=\"https://ttm.financial/U/4100927749199030\"> </a><a href=\"https://ttm.financial/U/3581735774790928\"> @</a>","text":"Replying to @icycrystal:SKY NG LENG HWEE//@icycrystal:not sure if it's the best time to invest in Chinese stock since it seems to have not recover... however, on the other hand, it may be an opportunity to buy at a good price and wait for its recovery... @LMSunshine @rL @","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/364394469748904","isVote":1,"tweetType":1,"viewCount":146,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4141429963588842","authorId":"4141429963588842","name":"TigerGPT","avatar":"https://community-static.tradeup.com/news/5b82af1deb17dfa8f94b4741b9ea2738","crmLevel":1,"crmLevelSwitch":0,"idStr":"4141429963588842","authorIdStr":"4141429963588842"},"content":"It's true that things aren't doing very well for the Chinese stock market right now, but whether it's the best time to invest remains to be seen. Investing in stocks requires consideration of many factors, including macroeconomic conditions, industry outlook, company financial status, etc. If you think the Chinese stock market has great long-term potential and have the patience to wait for the stock price to recover, then now may be a time to consider investing. In addition, undervalued stock prices may provide better buying opportunities for investment. However, I recommend conducting adequate research and research before making investment decisions. You can pay attention to relevant news and opinions to understand the trends and forecasts of China's stock market, and you can also consider consulting professional investment consultants for more advice. It should be noted that there are risks in the stock market, so investment needs to be cautious. The above information is for reference only and does not constitute investment advice.","text":"It's true that things aren't doing very well for the Chinese stock market right now, but whether it's the best time to invest remains to be seen. Investing in stocks requires consideration of many factors, including macroeconomic conditions, industry outlook, company financial status, etc. If you think the Chinese stock market has great long-term potential and have the patience to wait for the stock price to recover, then now may be a time to consider investing. In addition, undervalued stock prices may provide better buying opportunities for investment. However, I recommend conducting adequate research and research before making investment decisions. You can pay attention to relevant news and opinions to understand the trends and forecasts of China's stock market, and you can also consider consulting professional investment consultants for more advice. It should be noted that there are risks in the stock market, so investment needs to be cautious. The above information is for reference only and does not constitute investment advice.","html":"It's true that things aren't doing very well for the Chinese stock market right now, but whether it's the best time to invest remains to be seen. Investing in stocks requires consideration of many factors, including macroeconomic conditions, industry outlook, company financial status, etc. If you think the Chinese stock market has great long-term potential and have the patience to wait for the stock price to recover, then now may be a time to consider investing. In addition, undervalued stock prices may provide better buying opportunities for investment. However, I recommend conducting adequate research and research before making investment decisions. You can pay attention to relevant news and opinions to understand the trends and forecasts of China's stock market, and you can also consider consulting professional investment consultants for more advice. It should be noted that there are risks in the stock market, so investment needs to be cautious. The above information is for reference only and does not constitute investment advice."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364357029093544,"gmtCreate":1729964593397,"gmtModify":1729964596290,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/D01.SI\">$DFIRG USD(D01.SI)$&nbsp;</a>&nbsp;","listText":"<a href=\"https://ttm.financial/S/D01.SI\">$DFIRG USD(D01.SI)$&nbsp;</a>&nbsp;","text":"$DFIRG USD(D01.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364357029093544","isVote":1,"tweetType":1,"viewCount":85,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364349136376048,"gmtCreate":1729962752480,"gmtModify":1729997928488,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"title":"Happy 59th Birthday Singapore!","htmlText":"Find out more here:<a href=\"https://tigr.link/to?data=aHR0cHM6Ly9zZy5ldGFzcGhlcmUuY29tL3NnL21hcmtldGluZy93ZWxjb21lc2cwOD9pc19pbnZpdGU9dHJ1ZSZ1dG1fY2FtcGFpZ249QUMxNzEzMTcxNjA3NzU2dUthcWNRJmFkY29kZT1BQzE3MTMxNjc1NjYxNTRQaGdNQWgmdXRtX21lZGl1bT10aWdlcl9jb21tdW5pdHkmc2tpbj0xJmVkaXRpb249ZnVuZGFtZW50YWwmc2hhcmVJRD1hYzdkNDY0NGIyNWQ5MzNjYWFhN2M3NjAxZjk4MGU1OSZwbGF0Zm9ybT1hbmRyb2lkJmFjY291bnRfZGlzcGxheT1nbG9iYWwmb3JpZ2luYWxfbW9kdWxlPW15X3Byb2ZpbGVfYWN0aXZpdHkmaW52aXRlPUI2QUg1SCZsYW5nPWVuX05aJnV0bV9zb3VyY2U9aW52aXRl\">Happy 59th Birthday Singapore!</a> Join us to receive up to USD 1006 rewards Roy NG LENG HWEE&nbsp;","listText":"Find out more here:<a href=\"https://tigr.link/to?data=aHR0cHM6Ly9zZy5ldGFzcGhlcmUuY29tL3NnL21hcmtldGluZy93ZWxjb21lc2cwOD9pc19pbnZpdGU9dHJ1ZSZ1dG1fY2FtcGFpZ249QUMxNzEzMTcxNjA3NzU2dUthcWNRJmFkY29kZT1BQzE3MTMxNjc1NjYxNTRQaGdNQWgmdXRtX21lZGl1bT10aWdlcl9jb21tdW5pdHkmc2tpbj0xJmVkaXRpb249ZnVuZGFtZW50YWwmc2hhcmVJRD1hYzdkNDY0NGIyNWQ5MzNjYWFhN2M3NjAxZjk4MGU1OSZwbGF0Zm9ybT1hbmRyb2lkJmFjY291bnRfZGlzcGxheT1nbG9iYWwmb3JpZ2luYWxfbW9kdWxlPW15X3Byb2ZpbGVfYWN0aXZpdHkmaW52aXRlPUI2QUg1SCZsYW5nPWVuX05aJnV0bV9zb3VyY2U9aW52aXRl\">Happy 59th Birthday Singapore!</a> Join us to receive up to USD 1006 rewards Roy NG LENG HWEE&nbsp;","text":"Find out more here:Happy 59th Birthday Singapore! Join us to receive up to USD 1006 rewards Roy NG LENG HWEE","images":[],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364349136376048","isVote":1,"tweetType":1,"viewCount":22,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364215818895360,"gmtCreate":1729930116923,"gmtModify":1729930119069,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"SKY NG LENG HWEE&nbsp;","listText":"SKY NG LENG HWEE&nbsp;","text":"SKY NG LENG HWEE","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364215818895360","repostId":"2475314672","repostType":2,"isVote":1,"tweetType":1,"viewCount":2,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364215691161792,"gmtCreate":1729930087343,"gmtModify":1729930089724,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"SKY NG LENG HWEE&nbsp;","listText":"SKY NG LENG HWEE&nbsp;","text":"SKY NG LENG HWEE","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364215691161792","repostId":"2475314672","repostType":2,"repost":{"id":"2475314672","pubTimestamp":1728980883,"share":"https://ttm.financial/m/news/2475314672?lang=&edition=fundamental","pubTime":"2024-10-15 16:28","market":"us","language":"en","title":"Amazon: Deep Dive Shows Massive Upside","url":"https://stock-news.laohu8.com/highlight/detail?id=2475314672","media":"seekingalpha","summary":"I previously rated Amazon.com, Inc. as a Strong Buy in December 2023 with a price target of $180, which the stock has now reached.Amazon operates in six major segments: 1st Party, 3rd Party, Physical,","content":"<html><head></head><body><ul style=\"\"><li><p>I previously rated Amazon.com, Inc. as a Strong Buy in December 2023 with a price target of $180, which the stock has now reached.</p></li><li><p>Amazon operates in six major segments: 1st Party, 3rd Party, Physical, Subscriptions, Advertising, and Cloud, each contributing uniquely to its revenue.</p></li><li><p>A Bear- and Bull-Case Discounted Cash Flow Analysis was used to evaluate Amazon, considering growth rates and EBIT-margins for each segment.</p></li><li><p>Given this valuation method, the company could currently be undervalued by up to 117%.</p></li></ul><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/3eb2610a8104c2fa1647f9a96f69c969\" tg-width=\"750\" tg-height=\"500\"/></p><p>Julie Clopper</p><p></p><p>In this article, we are revisiting <strong>Amazon.com, Inc.</strong> (NASDAQ:AMZN) from my latest article on AMZN in December 2023, where I rated the company as a Strong Buy with a price target of $180. From this, the stock returned a solid 25% to today&#39;s price, meaning that we are currently pretty much at my then defined price target.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/6add3aff830a3ce3585db3c5f1d07607\" tg-width=\"297\" tg-height=\"413\"/></p><p>My Amazon Stock Coverage (seekingalpha.com)</p><p></p><p>To get a realistic valuation, we briefly analyze every business segment of AMZN, define suitable growth rates and EBIT margins for each segment and finally evaluate the whole company using a Bear- and Bull-Case Discounted Cash Flow Analysis. For more details on the different segments of Amazon and their current operations, please refer to the above-mentioned article.</p><h3 id=\"id_4282393402\">Starting Point</h3><p>Since Amazon isn&#39;t declaring the profitability of each of its business segments, we have to get a bit creative here to get a financial starting point for our following analysis. Amazon is declaring the profitability of the AWS (Cloud) segment separately from the rest, meaning we can at least use this as the first anchoring point. Since subscriptions, 1st and 3rd party are connected through offerings like free shipping with Amazon Prime, I tried to at least find a suitable profitability metric for the advertisement segment of Amazon. The two main competitors in the advertising space, Google (GOOG) (GOOGL) and Meta (META), are currently having EBIT margins in the range of 25% to 40%. For our starting point, I assumed an EBIT margin of 25% in Amazon&#39;s advertisement segment.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/720ac9939c6602941b7d6abc456bffac\" tg-width=\"635\" tg-height=\"439\"/></p><p>Data by YCharts</p><p></p><p>To then get close to the stated EBIT of each year, I then broke down the remaining EBIT on the remaining business sectors for each financial year. Because some segments overlap, it is exceedingly difficult to forecast exact measurements in this case. These measurements, however, simply represent the beginning of each segment.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a2de9bc4277966ab3fcd52b5a64c3762\" tg-width=\"640\" tg-height=\"57\"/></p><p>Assumptions Starting Point (own assumptions)</p><p></p><h2 id=\"id_1968806287\">eCommerce (1st and 3rd Party)</h2><p>The eCommerce market is expected to grow at a CAGR of ~9.5% over the various markets until 2029.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/22779c48593812f88244e1b6515bc0a3\" tg-width=\"640\" tg-height=\"248\"/></p><p>eCommerce Growth per Region 2024 to 2029 (statista.com)</p><p></p><p>If we factor in the increasing priority of 3rd party at Amazon, we can assume the following growth rates for the eCommerce business segments.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b8b262603df9e0597e30ccbf9d9d345b\" tg-width=\"640\" tg-height=\"388\"/></p><p>Amazon 1st vs. 3rd party sales (statista.com)</p><p></p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/58bed054f059a5a604d0670d32bb4740\" tg-width=\"640\" tg-height=\"400\"/></p><p>Amazon share of 3rd party sales of the years (statista.com)</p><p></p><h4 id=\"id_2376152078\">1st Party</h4><p>Bear: 3% p.a.</p><p>Bull: 5% p.a.</p><h4 id=\"id_230580202\">3rd Party</h4><p>Bear: 10% p.a.</p><p>Bull: 15% p.a.</p><p>These seem rather conservative, factoring in the latest growth rates in the 3rd party segment of 13.9% in 2022 and 19% in 2023.</p><p>The average net margin for the online retail is right around 7%.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/ff011eb64a8b9c005b559b9d5e83f4f6\" tg-width=\"935\" tg-height=\"518\"/></p><p>Average net margin per business segment 2022 (statista.com)</p><p></p><p>I think given this metric, we can assume the following margin development for the 1st party from the above defined starting point.</p><table style=\"border-collapse:collapse;\"><tbody><tr><td style=\"text-align:left;\"><p>EBIT Margin 1st</p></td><td style=\"text-align:left;\"><p>2023</p></td><td style=\"text-align:left;\"><p>2024</p></td><td style=\"text-align:left;\"><p>2025</p></td><td style=\"text-align:left;\"><p>2026</p></td><td style=\"text-align:left;\"><p>2027</p></td><td style=\"text-align:left;\"><p>2028</p></td><td style=\"text-align:left;\"><p>2029</p></td><td style=\"text-align:left;\"><p>2030</p></td><td style=\"text-align:left;\"><p>2031</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bear</strong></p></td><td style=\"text-align:left;\"><p>-6%</p></td><td style=\"text-align:left;\"><p>-3%</p></td><td style=\"text-align:left;\"><p>0%</p></td><td style=\"text-align:left;\"><p>2%</p></td><td style=\"text-align:left;\"><p>4%</p></td><td style=\"text-align:left;\"><p>5%</p></td><td style=\"text-align:left;\"><p>5%</p></td><td style=\"text-align:left;\"><p>5%</p></td><td style=\"text-align:left;\"><p>5%</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bull</strong></p></td><td style=\"text-align:left;\"><p>-6%</p></td><td style=\"text-align:left;\"><p>0%</p></td><td style=\"text-align:left;\"><p>2.5%</p></td><td style=\"text-align:left;\"><p>5%</p></td><td style=\"text-align:left;\"><p>7.5%</p></td><td style=\"text-align:left;\"><p>7.5%</p></td><td style=\"text-align:left;\"><p>7.5%</p></td><td style=\"text-align:left;\"><p>7.5%</p></td><td style=\"text-align:left;\"><p>7.5%</p></td></tr></tbody></table><p>Click to enlarge</p><p>Taking a look at the 3rd party margins, it becomes apparent why Amazon is increasingly focusing in this segment. The margins of the two main competitors, <a href=\"https://laohu8.com/S/EBAY\">eBay</a> (EBAY) and Etsy (ETSY), are currently sitting right around 10% to 38%. While the average of eBay over the last few years was more right around 25%.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/4e2e98890cdc59162e269256a1c0eee9\" tg-width=\"635\" tg-height=\"439\"/></p><p>Data by YCharts</p><p></p><p>I think that it is reasonable to assume that Amazon will - eventually - achieve similar margins to eBay, which gives us the following assumptions:</p><table style=\"border-collapse:collapse;\"><tbody><tr><td style=\"text-align:left;\"><p>EBIT Margin 3rd</p></td><td style=\"text-align:left;\"><p>2023</p></td><td style=\"text-align:left;\"><p>2024</p></td><td style=\"text-align:left;\"><p>2025</p></td><td style=\"text-align:left;\"><p>2026</p></td><td style=\"text-align:left;\"><p>2027</p></td><td style=\"text-align:left;\"><p>2028</p></td><td style=\"text-align:left;\"><p>2029</p></td><td style=\"text-align:left;\"><p>2030</p></td><td style=\"text-align:left;\"><p>2031</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bear</strong></p></td><td style=\"text-align:left;\"><p>4.5%</p></td><td style=\"text-align:left;\"><p>10%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>15%</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bull</strong></p></td><td style=\"text-align:left;\"><p>4.5%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td></tr></tbody></table><p>Click to enlarge</p><h2 id=\"id_1701601226\">Physical Stores</h2><p>This segment is a slow growth and low margin business for Amazon, taking a look at recent growth rates of this segment and the EBIT-margin of one major competitor, Kroger (KR).</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9d0ed02fce4708cdc028cf6556766ca8\" tg-width=\"640\" tg-height=\"30\"/></p><p>Amazon Physical Stores Growth(Amazon Quarterly Earnings Q1/23 to Q2/24)</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/526d47eced6c932749b47386d8626529\" tg-width=\"635\" tg-height=\"424\"/></p><p>Data by YCharts</p><p></p><p>Keeping this in mind, the following assumptions seem fitting:</p><p>Bear: 3% p.a.</p><p>Bull: 10% p.a.</p><p>Considering the &#34;cashierless&#34; technology of Amazon in this segment, the profitability should improve, giving us the following EBIT assumptions:</p><p>Bear: 5%</p><p>Bull: 10%</p><p>Without wasting more time with this rather unimportant segment, we jump right into the more promising segment subscriptions.</p><h2 id=\"id_3180827049\">Subscriptions</h2><p>The revenue growth rate in this segment is currently at around 11%, a slight decline from historical numbers of ~30%.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/73f19474d7d9242018f447abbce8dc2c\" tg-width=\"640\" tg-height=\"32\"/></p><p>Amazon Subscriptions Growth (Amazon Quarterly Earnings Q1/23 to Q2/24)</p><p></p><table style=\"border-collapse:collapse;\"><tbody><tr><td style=\"text-align:left;\"><p>[million USD]</p></td><td style=\"text-align:left;\"><p>2018</p></td><td style=\"text-align:left;\"><p>2019</p></td><td style=\"text-align:left;\"><p>2020</p></td><td style=\"text-align:left;\"><p>2021</p></td><td style=\"text-align:left;\"><p>2022</p></td><td style=\"text-align:left;\"><p>2023</p></td></tr><tr><td style=\"text-align:left;\"><p>Revenue</p></td><td style=\"text-align:left;\"><p>14,168</p></td><td style=\"text-align:left;\"><p>19,210</p></td><td style=\"text-align:left;\"><p>25,207</p></td><td style=\"text-align:left;\"><p>31,768</p></td><td style=\"text-align:left;\"><p>35,218</p></td><td style=\"text-align:left;\"><p>40,761</p></td></tr><tr><td style=\"text-align:left;\"><p>YOY Growth</p></td><td style=\"text-align:left;\"><p>46%</p></td><td style=\"text-align:left;\"><p>36%</p></td><td style=\"text-align:left;\"><p>31%</p></td><td style=\"text-align:left;\"><p>26%</p></td><td style=\"text-align:left;\"><p>11%</p></td><td style=\"text-align:left;\"><p>15%</p></td></tr></tbody></table><p>Click to enlarge</p><p>If we take a look at the whole streaming market, experts are currently projecting a CAGR of 18.7% for the whole market until 2031. Therefore, the following growth rates seem viable:</p><p>Bear: 7.5% p.a.</p><p>Bull: 15% p.a.</p><p>If we now take a look at the margins of the comparable business Netflix (NFLX), the following assumptions for profitability should be suitable:</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9051a799240375842ed05326bdd5ef72\" tg-width=\"635\" tg-height=\"424\"/></p><p>Data by YCharts</p><p></p><p>Bear: 15%</p><p>Bull: 25%.</p><h2 id=\"id_1823772008\">Advertising</h2><p>The advertising segment for me is one of the most exciting and compelling business segments of Amazon. If we take a look at the financial metrics, it becomes apparent why I think so.</p><p>The digital advertising spending worldwide is expected to grow at a CAGR of 15.5% until 2030.</p><p>This is already pretty impressive, if we however factor in that Amazon is currently - apart from TikTok - the only major competitor that is gaining market share in this very saturated market, the prospects look even better.</p><p></p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/14/51058349-17289208648740807.png\"></social-image></p><p>Share of major ad-selling companies in digital advertising (statista.com)</p><p></p><p>Given this development, these growth metrics seem fitting for the advertising segment.</p><p>Bear: 10% p.a.</p><p>Bull: 20% p.a.</p><p>Like mentioned at our starting point, the EBIT-margins of Meta and Google are currently at around 25% to 40%, with Google being suppressed by their massive <em>Others</em> segment. More on this issue in my latest Google article. Amazon should be able to at least achieve similar margins or might even be able to surpass these, as their ads are way more targeted towards customers that are already willing to buy something. Since they are already on Amazon&#39;s side surfing for products to buy. Because of this, I came up with the following assumptions:</p><table style=\"border-collapse:collapse;\"><tbody><tr><td style=\"text-align:left;\"><p>EBIT Margin Ads</p></td><td style=\"text-align:left;\"><p>2023</p></td><td style=\"text-align:left;\"><p>2024</p></td><td style=\"text-align:left;\"><p>2025</p></td><td style=\"text-align:left;\"><p>2026</p></td><td style=\"text-align:left;\"><p>2027</p></td><td style=\"text-align:left;\"><p>2028</p></td><td style=\"text-align:left;\"><p>2029</p></td><td style=\"text-align:left;\"><p>2030</p></td><td style=\"text-align:left;\"><p>2031</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bear</strong></p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bull</strong></p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>40%</p></td><td style=\"text-align:left;\"><p>45%</p></td><td style=\"text-align:left;\"><p>45%</p></td><td style=\"text-align:left;\"><p>45%</p></td><td style=\"text-align:left;\"><p>45%</p></td><td style=\"text-align:left;\"><p>45%</p></td></tr></tbody></table><p>Click to enlarge</p><h2 id=\"id_1675279717\">Cloud - AWS</h2><p>The global cloud, market is expected to grow at a CAGR of 21.2% from 2024 to 2030. As Amazon is currently maintaining its dominant market share, a growth rate right around the market growth rate looks promising.</p><p></p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/14/51058349-17289214849984775.png\"></social-image></p><p>Cloud Infrastructure Market Share per Quarter (statista.com)</p><p></p><p>Bear: 15% p.a.</p><p>Bull: 20% p.a.</p><p>With our Bull Case, I only projected 20% annual growth because it appears unfeasible to rise beyond the market given the already massive market share and the elevated growth rate of 20% for 8 years.</p><p>For the profitability, I assumed the following metrics:</p><table style=\"border-collapse:collapse;\"><tbody><tr><td style=\"text-align:left;\"><p>EBIT Margin AWS</p></td><td style=\"text-align:left;\"><p>2023</p></td><td style=\"text-align:left;\"><p>2024</p></td><td style=\"text-align:left;\"><p>2025</p></td><td style=\"text-align:left;\"><p>2026</p></td><td style=\"text-align:left;\"><p>2027</p></td><td style=\"text-align:left;\"><p>2028</p></td><td style=\"text-align:left;\"><p>2029</p></td><td style=\"text-align:left;\"><p>2030</p></td><td style=\"text-align:left;\"><p>2031</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bear</strong></p></td><td style=\"text-align:left;\"><p>27%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bull</strong></p></td><td style=\"text-align:left;\"><p>27%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td></tr></tbody></table><p>Click to enlarge</p><h2 id=\"id_1677487832\">Discounted Cash Flow Analysis</h2><p>For our Discounted Cash Flow Analysis (&#34;DCF&#34;), we need a few additional assumptions.</p><ul style=\"\"><li><p><strong>Tax Rate:</strong> Here I averaged out the last four years and arrived at an average tax rate of 14.4%.</p></li><li><p><strong>Free Cash Flow Conversion:</strong> I found an appropriate EBIAT to Free Cash Flow Ratio after computing the EBIAT using the tax rate given above. Since 2021 and 2022 appear to be outliers in this case, I averaged out the EBIAT To FCF from 2017 through 2020 and 2023. This gave me a conversion rate of 101%. For an additional margin of safety, I used 85% in the following DCF.</p></li></ul><table style=\"border-collapse:collapse;\"><colgroup><col/></colgroup><tbody><tr><td style=\"text-align:left;\"><p></p></td><td style=\"text-align:left;\"><p>2017</p></td><td style=\"text-align:left;\"><p>2018</p></td><td style=\"text-align:left;\"><p>2019</p></td><td style=\"text-align:left;\"><p>2020</p></td><td style=\"text-align:left;\"><p>2021</p></td><td style=\"text-align:left;\"><p>2022</p></td><td style=\"text-align:left;\"><p>2023</p></td></tr><tr><td style=\"text-align:left;\"><p>EBIAT</p></td><td style=\"text-align:left;\"><p>3,277</p></td><td style=\"text-align:left;\"><p>11,104</p></td><td style=\"text-align:left;\"><p>12,069</p></td><td style=\"text-align:left;\"><p>20,197</p></td><td style=\"text-align:left;\"><p>21,744</p></td><td style=\"text-align:left;\"><p>10,729</p></td><td style=\"text-align:left;\"><p>31,545</p></td></tr><tr><td style=\"text-align:left;\"><p>EBIAT to FCF</p></td><td style=\"text-align:left;\"><p>154%</p></td><td style=\"text-align:left;\"><p>75%</p></td><td style=\"text-align:left;\"><p>114%</p></td><td style=\"text-align:left;\"><p>54%</p></td><td style=\"text-align:left;\"><p>-142%</p></td><td style=\"text-align:left;\"><p>-208%</p></td><td style=\"text-align:left;\"><p>117%</p></td></tr><tr><td style=\"text-align:left;\"><p>FCF</p></td><td style=\"text-align:left;\"><p>8,307</p></td><td style=\"text-align:left;\"><p>19,400</p></td><td style=\"text-align:left;\"><p>25,800</p></td><td style=\"text-align:left;\"><p>31,020</p></td><td style=\"text-align:left;\"><p>-9,069</p></td><td style=\"text-align:left;\"><p>-11,569</p></td><td style=\"text-align:left;\"><p>36,800</p></td></tr></tbody></table><p>Click to enlarge</p><ul style=\"\"><li><p><strong>WACC:</strong> Here I used 9%, which is also higher than Amazon&#39;s current WACC meaning additional margin of safety.</p></li><li><p><strong>Perpetuity Growth Rate:</strong> Here I used 3%, which is pretty conservative for this company if you ask me.</p></li></ul><h3 id=\"id_4114785257\">Bear-Case</h3><p></p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-1728820166087182.png\"></social-image></p><p>Main Assumptions Amazon Bear-Case (aboutamazon.com; seekingalpha.com; own assumptions)</p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-17288192091753738.png\"></social-image></p><p>DCF Amazon Bear I (aboutamazon.com; seekingalpha.com; own assumptions)</p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-17288192662678003.png\"></social-image></p><p>DCF Amazon Bear II (aboutamazon.com; seekingalpha.com; own assumptions)</p><p></p><p>With our Bear-Case DCF, we get a target share price of ~$150, indicating that the company could currently be overvalued by 20%. However, keep in mind that this factors in decelerating growth rates below-market rates and lower profitability compared to competitors.</p><h2 id=\"id_738275189\">Bull-Case</h2><p></p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-17288201919055088.png\"></social-image></p><p>Main Assumptions Bull-Case (aboutamazon.com; seekingalpha.com; own assumptions)</p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-1728819551935197.png\"></social-image></p><p>DCF Amazon Bull I (aboutamazon.com; seekingalpha.com; own assumptions)</p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-17288196208292644.png\"></social-image></p><p>DCF Amazon Bull II (aboutamazon.com; seekingalpha.com; own assumptions)</p><p></p><p>The Bull-Case indicated a fair value share price of ~$318, which would translate in an undervaluation of a whopping 117%! On the other hand, they include profit margins that are larger than those of their main rivals and growth rates that surpass the market.</p><h2 id=\"id_550457842\">Conclusion</h2><p>If we take a look at the last year of our Bull-Case scenarios, we can clearly see on what segments Amazon should focus on in the upcoming years.</p><p></p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-17288202303395493.png\"></social-image></p><p>2031 Bull-Case Prediction (DCF)</p><p></p><p>The biggest EBIT contributors are the Cloud, Advertising and 3rd Party segment. This is why in the upcoming earnings call (earnings to be released on October 25th), I will lay special emphasis on the relevant metrics in these few segments. I also would prefer if Amazon starts to stop &#34;experiments&#34; like the physical stores and focus on their core growth catalysts.</p><p>With our Bear- and Bull-Case analysis, we get a miss-pricing in the range of -20% to 117%. As always, the truth is probably laying somewhere in between these two scenarios, since some risks, like another lawsuit, can&#39;t really be considered in such an DCF-analysis.</p><p>I nevertheless think that the current valuation is still a very good entry point into Amazon, considering that the assumptions we made are very realistic and could very well exactly play out as expected. That is why I currently rate the Stock a Strong Buy, with a medium term price target of $220.</p><p>If you have read this far, please consider following me for more deep-dives! Thank you so much for reading!</p><p><strong><em>Editor&#39;s Note</em></strong><em>: This article was submitted as part of Seeking Alpha&#39;s</em> <em>Best Value Idea investment competition, which runs through October 14. With cash prizes, this competition -- open to all analysts -- is one you don&#39;t want to miss. If you are interested in becoming an analyst and taking part in the competition,</em> <em>click here</em> <em>to find out more and submit your article today!</em></p><p>Editor&#39;s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon: Deep Dive Shows Massive Upside</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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon: Deep Dive Shows Massive Upside\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-15 16:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4726684-amazon-deep-dive-shows-massive-upside><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>I previously rated Amazon.com, Inc. as a Strong Buy in December 2023 with a price target of $180, which the stock has now reached.Amazon operates in six major segments: 1st Party, 3rd Party, Physical,...</p>\n\n<a href=\"https://seekingalpha.com/article/4726684-amazon-deep-dive-shows-massive-upside\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0061474960.USD":"天利环球焦点基金AU Acc","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4592":"伊斯兰概念","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","BK4507":"流媒体概念","BK4585":"ETF&股票定投概念","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","BK4566":"资本集团","BK4535":"淡马锡持仓","BK4524":"宅经济概念","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","BK4559":"巴菲特持仓","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","BK4538":"云计算","BK4550":"红杉资本持仓","BK4588":"碎股","BK4579":"人工智能","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","BK4503":"景林资产持仓","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","BK4122":"互联网与直销零售","AMZN":"亚马逊","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","BK4551":"寇图资本持仓","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0072462426.USD":"贝莱德全球配置 A2","LU0079474960.USD":"联博美国增长基金A","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","BK4561":"索罗斯持仓","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0080751232.USD":"富达环球多元动力基金A","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC"},"source_url":"https://seekingalpha.com/article/4726684-amazon-deep-dive-shows-massive-upside","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2475314672","content_text":"I previously rated Amazon.com, Inc. as a Strong Buy in December 2023 with a price target of $180, which the stock has now reached.Amazon operates in six major segments: 1st Party, 3rd Party, Physical, Subscriptions, Advertising, and Cloud, each contributing uniquely to its revenue.A Bear- and Bull-Case Discounted Cash Flow Analysis was used to evaluate Amazon, considering growth rates and EBIT-margins for each segment.Given this valuation method, the company could currently be undervalued by up to 117%.Julie ClopperIn this article, we are revisiting Amazon.com, Inc. (NASDAQ:AMZN) from my latest article on AMZN in December 2023, where I rated the company as a Strong Buy with a price target of $180. From this, the stock returned a solid 25% to today's price, meaning that we are currently pretty much at my then defined price target.My Amazon Stock Coverage (seekingalpha.com)To get a realistic valuation, we briefly analyze every business segment of AMZN, define suitable growth rates and EBIT margins for each segment and finally evaluate the whole company using a Bear- and Bull-Case Discounted Cash Flow Analysis. For more details on the different segments of Amazon and their current operations, please refer to the above-mentioned article.Starting PointSince Amazon isn't declaring the profitability of each of its business segments, we have to get a bit creative here to get a financial starting point for our following analysis. Amazon is declaring the profitability of the AWS (Cloud) segment separately from the rest, meaning we can at least use this as the first anchoring point. Since subscriptions, 1st and 3rd party are connected through offerings like free shipping with Amazon Prime, I tried to at least find a suitable profitability metric for the advertisement segment of Amazon. The two main competitors in the advertising space, Google (GOOG) (GOOGL) and Meta (META), are currently having EBIT margins in the range of 25% to 40%. For our starting point, I assumed an EBIT margin of 25% in Amazon's advertisement segment.Data by YChartsTo then get close to the stated EBIT of each year, I then broke down the remaining EBIT on the remaining business sectors for each financial year. Because some segments overlap, it is exceedingly difficult to forecast exact measurements in this case. These measurements, however, simply represent the beginning of each segment.Assumptions Starting Point (own assumptions)eCommerce (1st and 3rd Party)The eCommerce market is expected to grow at a CAGR of ~9.5% over the various markets until 2029.eCommerce Growth per Region 2024 to 2029 (statista.com)If we factor in the increasing priority of 3rd party at Amazon, we can assume the following growth rates for the eCommerce business segments.Amazon 1st vs. 3rd party sales (statista.com)Amazon share of 3rd party sales of the years (statista.com)1st PartyBear: 3% p.a.Bull: 5% p.a.3rd PartyBear: 10% p.a.Bull: 15% p.a.These seem rather conservative, factoring in the latest growth rates in the 3rd party segment of 13.9% in 2022 and 19% in 2023.The average net margin for the online retail is right around 7%.Average net margin per business segment 2022 (statista.com)I think given this metric, we can assume the following margin development for the 1st party from the above defined starting point.EBIT Margin 1st202320242025202620272028202920302031Bear-6%-3%0%2%4%5%5%5%5%Bull-6%0%2.5%5%7.5%7.5%7.5%7.5%7.5%Click to enlargeTaking a look at the 3rd party margins, it becomes apparent why Amazon is increasingly focusing in this segment. The margins of the two main competitors, eBay (EBAY) and Etsy (ETSY), are currently sitting right around 10% to 38%. While the average of eBay over the last few years was more right around 25%.Data by YChartsI think that it is reasonable to assume that Amazon will - eventually - achieve similar margins to eBay, which gives us the following assumptions:EBIT Margin 3rd202320242025202620272028202920302031Bear4.5%10%15%15%15%15%15%15%15%Bull4.5%15%25%25%25%25%25%25%25%Click to enlargePhysical StoresThis segment is a slow growth and low margin business for Amazon, taking a look at recent growth rates of this segment and the EBIT-margin of one major competitor, Kroger (KR).Amazon Physical Stores Growth(Amazon Quarterly Earnings Q1/23 to Q2/24)Data by YChartsKeeping this in mind, the following assumptions seem fitting:Bear: 3% p.a.Bull: 10% p.a.Considering the \"cashierless\" technology of Amazon in this segment, the profitability should improve, giving us the following EBIT assumptions:Bear: 5%Bull: 10%Without wasting more time with this rather unimportant segment, we jump right into the more promising segment subscriptions.SubscriptionsThe revenue growth rate in this segment is currently at around 11%, a slight decline from historical numbers of ~30%.Amazon Subscriptions Growth (Amazon Quarterly Earnings Q1/23 to Q2/24)[million USD]201820192020202120222023Revenue14,16819,21025,20731,76835,21840,761YOY Growth46%36%31%26%11%15%Click to enlargeIf we take a look at the whole streaming market, experts are currently projecting a CAGR of 18.7% for the whole market until 2031. Therefore, the following growth rates seem viable:Bear: 7.5% p.a.Bull: 15% p.a.If we now take a look at the margins of the comparable business Netflix (NFLX), the following assumptions for profitability should be suitable:Data by YChartsBear: 15%Bull: 25%.AdvertisingThe advertising segment for me is one of the most exciting and compelling business segments of Amazon. If we take a look at the financial metrics, it becomes apparent why I think so.The digital advertising spending worldwide is expected to grow at a CAGR of 15.5% until 2030.This is already pretty impressive, if we however factor in that Amazon is currently - apart from TikTok - the only major competitor that is gaining market share in this very saturated market, the prospects look even better.Share of major ad-selling companies in digital advertising (statista.com)Given this development, these growth metrics seem fitting for the advertising segment.Bear: 10% p.a.Bull: 20% p.a.Like mentioned at our starting point, the EBIT-margins of Meta and Google are currently at around 25% to 40%, with Google being suppressed by their massive Others segment. More on this issue in my latest Google article. Amazon should be able to at least achieve similar margins or might even be able to surpass these, as their ads are way more targeted towards customers that are already willing to buy something. Since they are already on Amazon's side surfing for products to buy. Because of this, I came up with the following assumptions:EBIT Margin Ads202320242025202620272028202920302031Bear25%30%30%30%30%30%30%30%30%Bull25%30%35%40%45%45%45%45%45%Click to enlargeCloud - AWSThe global cloud, market is expected to grow at a CAGR of 21.2% from 2024 to 2030. As Amazon is currently maintaining its dominant market share, a growth rate right around the market growth rate looks promising.Cloud Infrastructure Market Share per Quarter (statista.com)Bear: 15% p.a.Bull: 20% p.a.With our Bull Case, I only projected 20% annual growth because it appears unfeasible to rise beyond the market given the already massive market share and the elevated growth rate of 20% for 8 years.For the profitability, I assumed the following metrics:EBIT Margin AWS202320242025202620272028202920302031Bear27%25%25%25%25%25%25%25%25%Bull27%35%35%35%35%35%35%35%35%Click to enlargeDiscounted Cash Flow AnalysisFor our Discounted Cash Flow Analysis (\"DCF\"), we need a few additional assumptions.Tax Rate: Here I averaged out the last four years and arrived at an average tax rate of 14.4%.Free Cash Flow Conversion: I found an appropriate EBIAT to Free Cash Flow Ratio after computing the EBIAT using the tax rate given above. Since 2021 and 2022 appear to be outliers in this case, I averaged out the EBIAT To FCF from 2017 through 2020 and 2023. This gave me a conversion rate of 101%. For an additional margin of safety, I used 85% in the following DCF.2017201820192020202120222023EBIAT3,27711,10412,06920,19721,74410,72931,545EBIAT to FCF154%75%114%54%-142%-208%117%FCF8,30719,40025,80031,020-9,069-11,56936,800Click to enlargeWACC: Here I used 9%, which is also higher than Amazon's current WACC meaning additional margin of safety.Perpetuity Growth Rate: Here I used 3%, which is pretty conservative for this company if you ask me.Bear-CaseMain Assumptions Amazon Bear-Case (aboutamazon.com; seekingalpha.com; own assumptions)DCF Amazon Bear I (aboutamazon.com; seekingalpha.com; own assumptions)DCF Amazon Bear II (aboutamazon.com; seekingalpha.com; own assumptions)With our Bear-Case DCF, we get a target share price of ~$150, indicating that the company could currently be overvalued by 20%. However, keep in mind that this factors in decelerating growth rates below-market rates and lower profitability compared to competitors.Bull-CaseMain Assumptions Bull-Case (aboutamazon.com; seekingalpha.com; own assumptions)DCF Amazon Bull I (aboutamazon.com; seekingalpha.com; own assumptions)DCF Amazon Bull II (aboutamazon.com; seekingalpha.com; own assumptions)The Bull-Case indicated a fair value share price of ~$318, which would translate in an undervaluation of a whopping 117%! On the other hand, they include profit margins that are larger than those of their main rivals and growth rates that surpass the market.ConclusionIf we take a look at the last year of our Bull-Case scenarios, we can clearly see on what segments Amazon should focus on in the upcoming years.2031 Bull-Case Prediction (DCF)The biggest EBIT contributors are the Cloud, Advertising and 3rd Party segment. This is why in the upcoming earnings call (earnings to be released on October 25th), I will lay special emphasis on the relevant metrics in these few segments. I also would prefer if Amazon starts to stop \"experiments\" like the physical stores and focus on their core growth catalysts.With our Bear- and Bull-Case analysis, we get a miss-pricing in the range of -20% to 117%. As always, the truth is probably laying somewhere in between these two scenarios, since some risks, like another lawsuit, can't really be considered in such an DCF-analysis.I nevertheless think that the current valuation is still a very good entry point into Amazon, considering that the assumptions we made are very realistic and could very well exactly play out as expected. That is why I currently rate the Stock a Strong Buy, with a medium term price target of $220.If you have read this far, please consider following me for more deep-dives! Thank you so much for reading!Editor's Note: This article was submitted as part of Seeking Alpha's Best Value Idea investment competition, which runs through October 14. With cash prizes, this competition -- open to all analysts -- is one you don't want to miss. If you are interested in becoming an analyst and taking part in the competition, click here to find out more and submit your article today!Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":8,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364204014604456,"gmtCreate":1729927236344,"gmtModify":1729927240177,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"SKY NG LENG HWEE&nbsp;","listText":"SKY NG LENG HWEE&nbsp;","text":"SKY NG LENG HWEE","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364204014604456","repostId":"2475314672","repostType":2,"repost":{"id":"2475314672","pubTimestamp":1728980883,"share":"https://ttm.financial/m/news/2475314672?lang=&edition=fundamental","pubTime":"2024-10-15 16:28","market":"us","language":"en","title":"Amazon: Deep Dive Shows Massive Upside","url":"https://stock-news.laohu8.com/highlight/detail?id=2475314672","media":"seekingalpha","summary":"I previously rated Amazon.com, Inc. as a Strong Buy in December 2023 with a price target of $180, which the stock has now reached.Amazon operates in six major segments: 1st Party, 3rd Party, Physical,","content":"<html><head></head><body><ul style=\"\"><li><p>I previously rated Amazon.com, Inc. as a Strong Buy in December 2023 with a price target of $180, which the stock has now reached.</p></li><li><p>Amazon operates in six major segments: 1st Party, 3rd Party, Physical, Subscriptions, Advertising, and Cloud, each contributing uniquely to its revenue.</p></li><li><p>A Bear- and Bull-Case Discounted Cash Flow Analysis was used to evaluate Amazon, considering growth rates and EBIT-margins for each segment.</p></li><li><p>Given this valuation method, the company could currently be undervalued by up to 117%.</p></li></ul><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/3eb2610a8104c2fa1647f9a96f69c969\" tg-width=\"750\" tg-height=\"500\"/></p><p>Julie Clopper</p><p></p><p>In this article, we are revisiting <strong>Amazon.com, Inc.</strong> (NASDAQ:AMZN) from my latest article on AMZN in December 2023, where I rated the company as a Strong Buy with a price target of $180. From this, the stock returned a solid 25% to today&#39;s price, meaning that we are currently pretty much at my then defined price target.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/6add3aff830a3ce3585db3c5f1d07607\" tg-width=\"297\" tg-height=\"413\"/></p><p>My Amazon Stock Coverage (seekingalpha.com)</p><p></p><p>To get a realistic valuation, we briefly analyze every business segment of AMZN, define suitable growth rates and EBIT margins for each segment and finally evaluate the whole company using a Bear- and Bull-Case Discounted Cash Flow Analysis. For more details on the different segments of Amazon and their current operations, please refer to the above-mentioned article.</p><h3 id=\"id_4282393402\">Starting Point</h3><p>Since Amazon isn&#39;t declaring the profitability of each of its business segments, we have to get a bit creative here to get a financial starting point for our following analysis. Amazon is declaring the profitability of the AWS (Cloud) segment separately from the rest, meaning we can at least use this as the first anchoring point. Since subscriptions, 1st and 3rd party are connected through offerings like free shipping with Amazon Prime, I tried to at least find a suitable profitability metric for the advertisement segment of Amazon. The two main competitors in the advertising space, Google (GOOG) (GOOGL) and Meta (META), are currently having EBIT margins in the range of 25% to 40%. For our starting point, I assumed an EBIT margin of 25% in Amazon&#39;s advertisement segment.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/720ac9939c6602941b7d6abc456bffac\" tg-width=\"635\" tg-height=\"439\"/></p><p>Data by YCharts</p><p></p><p>To then get close to the stated EBIT of each year, I then broke down the remaining EBIT on the remaining business sectors for each financial year. Because some segments overlap, it is exceedingly difficult to forecast exact measurements in this case. These measurements, however, simply represent the beginning of each segment.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a2de9bc4277966ab3fcd52b5a64c3762\" tg-width=\"640\" tg-height=\"57\"/></p><p>Assumptions Starting Point (own assumptions)</p><p></p><h2 id=\"id_1968806287\">eCommerce (1st and 3rd Party)</h2><p>The eCommerce market is expected to grow at a CAGR of ~9.5% over the various markets until 2029.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/22779c48593812f88244e1b6515bc0a3\" tg-width=\"640\" tg-height=\"248\"/></p><p>eCommerce Growth per Region 2024 to 2029 (statista.com)</p><p></p><p>If we factor in the increasing priority of 3rd party at Amazon, we can assume the following growth rates for the eCommerce business segments.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b8b262603df9e0597e30ccbf9d9d345b\" tg-width=\"640\" tg-height=\"388\"/></p><p>Amazon 1st vs. 3rd party sales (statista.com)</p><p></p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/58bed054f059a5a604d0670d32bb4740\" tg-width=\"640\" tg-height=\"400\"/></p><p>Amazon share of 3rd party sales of the years (statista.com)</p><p></p><h4 id=\"id_2376152078\">1st Party</h4><p>Bear: 3% p.a.</p><p>Bull: 5% p.a.</p><h4 id=\"id_230580202\">3rd Party</h4><p>Bear: 10% p.a.</p><p>Bull: 15% p.a.</p><p>These seem rather conservative, factoring in the latest growth rates in the 3rd party segment of 13.9% in 2022 and 19% in 2023.</p><p>The average net margin for the online retail is right around 7%.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/ff011eb64a8b9c005b559b9d5e83f4f6\" tg-width=\"935\" tg-height=\"518\"/></p><p>Average net margin per business segment 2022 (statista.com)</p><p></p><p>I think given this metric, we can assume the following margin development for the 1st party from the above defined starting point.</p><table style=\"border-collapse:collapse;\"><tbody><tr><td style=\"text-align:left;\"><p>EBIT Margin 1st</p></td><td style=\"text-align:left;\"><p>2023</p></td><td style=\"text-align:left;\"><p>2024</p></td><td style=\"text-align:left;\"><p>2025</p></td><td style=\"text-align:left;\"><p>2026</p></td><td style=\"text-align:left;\"><p>2027</p></td><td style=\"text-align:left;\"><p>2028</p></td><td style=\"text-align:left;\"><p>2029</p></td><td style=\"text-align:left;\"><p>2030</p></td><td style=\"text-align:left;\"><p>2031</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bear</strong></p></td><td style=\"text-align:left;\"><p>-6%</p></td><td style=\"text-align:left;\"><p>-3%</p></td><td style=\"text-align:left;\"><p>0%</p></td><td style=\"text-align:left;\"><p>2%</p></td><td style=\"text-align:left;\"><p>4%</p></td><td style=\"text-align:left;\"><p>5%</p></td><td style=\"text-align:left;\"><p>5%</p></td><td style=\"text-align:left;\"><p>5%</p></td><td style=\"text-align:left;\"><p>5%</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bull</strong></p></td><td style=\"text-align:left;\"><p>-6%</p></td><td style=\"text-align:left;\"><p>0%</p></td><td style=\"text-align:left;\"><p>2.5%</p></td><td style=\"text-align:left;\"><p>5%</p></td><td style=\"text-align:left;\"><p>7.5%</p></td><td style=\"text-align:left;\"><p>7.5%</p></td><td style=\"text-align:left;\"><p>7.5%</p></td><td style=\"text-align:left;\"><p>7.5%</p></td><td style=\"text-align:left;\"><p>7.5%</p></td></tr></tbody></table><p>Click to enlarge</p><p>Taking a look at the 3rd party margins, it becomes apparent why Amazon is increasingly focusing in this segment. The margins of the two main competitors, <a href=\"https://laohu8.com/S/EBAY\">eBay</a> (EBAY) and Etsy (ETSY), are currently sitting right around 10% to 38%. While the average of eBay over the last few years was more right around 25%.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/4e2e98890cdc59162e269256a1c0eee9\" tg-width=\"635\" tg-height=\"439\"/></p><p>Data by YCharts</p><p></p><p>I think that it is reasonable to assume that Amazon will - eventually - achieve similar margins to eBay, which gives us the following assumptions:</p><table style=\"border-collapse:collapse;\"><tbody><tr><td style=\"text-align:left;\"><p>EBIT Margin 3rd</p></td><td style=\"text-align:left;\"><p>2023</p></td><td style=\"text-align:left;\"><p>2024</p></td><td style=\"text-align:left;\"><p>2025</p></td><td style=\"text-align:left;\"><p>2026</p></td><td style=\"text-align:left;\"><p>2027</p></td><td style=\"text-align:left;\"><p>2028</p></td><td style=\"text-align:left;\"><p>2029</p></td><td style=\"text-align:left;\"><p>2030</p></td><td style=\"text-align:left;\"><p>2031</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bear</strong></p></td><td style=\"text-align:left;\"><p>4.5%</p></td><td style=\"text-align:left;\"><p>10%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>15%</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bull</strong></p></td><td style=\"text-align:left;\"><p>4.5%</p></td><td style=\"text-align:left;\"><p>15%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td></tr></tbody></table><p>Click to enlarge</p><h2 id=\"id_1701601226\">Physical Stores</h2><p>This segment is a slow growth and low margin business for Amazon, taking a look at recent growth rates of this segment and the EBIT-margin of one major competitor, Kroger (KR).</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9d0ed02fce4708cdc028cf6556766ca8\" tg-width=\"640\" tg-height=\"30\"/></p><p>Amazon Physical Stores Growth(Amazon Quarterly Earnings Q1/23 to Q2/24)</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/526d47eced6c932749b47386d8626529\" tg-width=\"635\" tg-height=\"424\"/></p><p>Data by YCharts</p><p></p><p>Keeping this in mind, the following assumptions seem fitting:</p><p>Bear: 3% p.a.</p><p>Bull: 10% p.a.</p><p>Considering the &#34;cashierless&#34; technology of Amazon in this segment, the profitability should improve, giving us the following EBIT assumptions:</p><p>Bear: 5%</p><p>Bull: 10%</p><p>Without wasting more time with this rather unimportant segment, we jump right into the more promising segment subscriptions.</p><h2 id=\"id_3180827049\">Subscriptions</h2><p>The revenue growth rate in this segment is currently at around 11%, a slight decline from historical numbers of ~30%.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/73f19474d7d9242018f447abbce8dc2c\" tg-width=\"640\" tg-height=\"32\"/></p><p>Amazon Subscriptions Growth (Amazon Quarterly Earnings Q1/23 to Q2/24)</p><p></p><table style=\"border-collapse:collapse;\"><tbody><tr><td style=\"text-align:left;\"><p>[million USD]</p></td><td style=\"text-align:left;\"><p>2018</p></td><td style=\"text-align:left;\"><p>2019</p></td><td style=\"text-align:left;\"><p>2020</p></td><td style=\"text-align:left;\"><p>2021</p></td><td style=\"text-align:left;\"><p>2022</p></td><td style=\"text-align:left;\"><p>2023</p></td></tr><tr><td style=\"text-align:left;\"><p>Revenue</p></td><td style=\"text-align:left;\"><p>14,168</p></td><td style=\"text-align:left;\"><p>19,210</p></td><td style=\"text-align:left;\"><p>25,207</p></td><td style=\"text-align:left;\"><p>31,768</p></td><td style=\"text-align:left;\"><p>35,218</p></td><td style=\"text-align:left;\"><p>40,761</p></td></tr><tr><td style=\"text-align:left;\"><p>YOY Growth</p></td><td style=\"text-align:left;\"><p>46%</p></td><td style=\"text-align:left;\"><p>36%</p></td><td style=\"text-align:left;\"><p>31%</p></td><td style=\"text-align:left;\"><p>26%</p></td><td style=\"text-align:left;\"><p>11%</p></td><td style=\"text-align:left;\"><p>15%</p></td></tr></tbody></table><p>Click to enlarge</p><p>If we take a look at the whole streaming market, experts are currently projecting a CAGR of 18.7% for the whole market until 2031. Therefore, the following growth rates seem viable:</p><p>Bear: 7.5% p.a.</p><p>Bull: 15% p.a.</p><p>If we now take a look at the margins of the comparable business Netflix (NFLX), the following assumptions for profitability should be suitable:</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9051a799240375842ed05326bdd5ef72\" tg-width=\"635\" tg-height=\"424\"/></p><p>Data by YCharts</p><p></p><p>Bear: 15%</p><p>Bull: 25%.</p><h2 id=\"id_1823772008\">Advertising</h2><p>The advertising segment for me is one of the most exciting and compelling business segments of Amazon. If we take a look at the financial metrics, it becomes apparent why I think so.</p><p>The digital advertising spending worldwide is expected to grow at a CAGR of 15.5% until 2030.</p><p>This is already pretty impressive, if we however factor in that Amazon is currently - apart from TikTok - the only major competitor that is gaining market share in this very saturated market, the prospects look even better.</p><p></p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/14/51058349-17289208648740807.png\"></social-image></p><p>Share of major ad-selling companies in digital advertising (statista.com)</p><p></p><p>Given this development, these growth metrics seem fitting for the advertising segment.</p><p>Bear: 10% p.a.</p><p>Bull: 20% p.a.</p><p>Like mentioned at our starting point, the EBIT-margins of Meta and Google are currently at around 25% to 40%, with Google being suppressed by their massive <em>Others</em> segment. More on this issue in my latest Google article. Amazon should be able to at least achieve similar margins or might even be able to surpass these, as their ads are way more targeted towards customers that are already willing to buy something. Since they are already on Amazon&#39;s side surfing for products to buy. Because of this, I came up with the following assumptions:</p><table style=\"border-collapse:collapse;\"><tbody><tr><td style=\"text-align:left;\"><p>EBIT Margin Ads</p></td><td style=\"text-align:left;\"><p>2023</p></td><td style=\"text-align:left;\"><p>2024</p></td><td style=\"text-align:left;\"><p>2025</p></td><td style=\"text-align:left;\"><p>2026</p></td><td style=\"text-align:left;\"><p>2027</p></td><td style=\"text-align:left;\"><p>2028</p></td><td style=\"text-align:left;\"><p>2029</p></td><td style=\"text-align:left;\"><p>2030</p></td><td style=\"text-align:left;\"><p>2031</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bear</strong></p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>30%</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bull</strong></p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>30%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>40%</p></td><td style=\"text-align:left;\"><p>45%</p></td><td style=\"text-align:left;\"><p>45%</p></td><td style=\"text-align:left;\"><p>45%</p></td><td style=\"text-align:left;\"><p>45%</p></td><td style=\"text-align:left;\"><p>45%</p></td></tr></tbody></table><p>Click to enlarge</p><h2 id=\"id_1675279717\">Cloud - AWS</h2><p>The global cloud, market is expected to grow at a CAGR of 21.2% from 2024 to 2030. As Amazon is currently maintaining its dominant market share, a growth rate right around the market growth rate looks promising.</p><p></p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/14/51058349-17289214849984775.png\"></social-image></p><p>Cloud Infrastructure Market Share per Quarter (statista.com)</p><p></p><p>Bear: 15% p.a.</p><p>Bull: 20% p.a.</p><p>With our Bull Case, I only projected 20% annual growth because it appears unfeasible to rise beyond the market given the already massive market share and the elevated growth rate of 20% for 8 years.</p><p>For the profitability, I assumed the following metrics:</p><table style=\"border-collapse:collapse;\"><tbody><tr><td style=\"text-align:left;\"><p>EBIT Margin AWS</p></td><td style=\"text-align:left;\"><p>2023</p></td><td style=\"text-align:left;\"><p>2024</p></td><td style=\"text-align:left;\"><p>2025</p></td><td style=\"text-align:left;\"><p>2026</p></td><td style=\"text-align:left;\"><p>2027</p></td><td style=\"text-align:left;\"><p>2028</p></td><td style=\"text-align:left;\"><p>2029</p></td><td style=\"text-align:left;\"><p>2030</p></td><td style=\"text-align:left;\"><p>2031</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bear</strong></p></td><td style=\"text-align:left;\"><p>27%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td><td style=\"text-align:left;\"><p>25%</p></td></tr><tr><td style=\"text-align:left;\"><p><strong>Bull</strong></p></td><td style=\"text-align:left;\"><p>27%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td><td style=\"text-align:left;\"><p>35%</p></td></tr></tbody></table><p>Click to enlarge</p><h2 id=\"id_1677487832\">Discounted Cash Flow Analysis</h2><p>For our Discounted Cash Flow Analysis (&#34;DCF&#34;), we need a few additional assumptions.</p><ul style=\"\"><li><p><strong>Tax Rate:</strong> Here I averaged out the last four years and arrived at an average tax rate of 14.4%.</p></li><li><p><strong>Free Cash Flow Conversion:</strong> I found an appropriate EBIAT to Free Cash Flow Ratio after computing the EBIAT using the tax rate given above. Since 2021 and 2022 appear to be outliers in this case, I averaged out the EBIAT To FCF from 2017 through 2020 and 2023. This gave me a conversion rate of 101%. For an additional margin of safety, I used 85% in the following DCF.</p></li></ul><table style=\"border-collapse:collapse;\"><colgroup><col/></colgroup><tbody><tr><td style=\"text-align:left;\"><p></p></td><td style=\"text-align:left;\"><p>2017</p></td><td style=\"text-align:left;\"><p>2018</p></td><td style=\"text-align:left;\"><p>2019</p></td><td style=\"text-align:left;\"><p>2020</p></td><td style=\"text-align:left;\"><p>2021</p></td><td style=\"text-align:left;\"><p>2022</p></td><td style=\"text-align:left;\"><p>2023</p></td></tr><tr><td style=\"text-align:left;\"><p>EBIAT</p></td><td style=\"text-align:left;\"><p>3,277</p></td><td style=\"text-align:left;\"><p>11,104</p></td><td style=\"text-align:left;\"><p>12,069</p></td><td style=\"text-align:left;\"><p>20,197</p></td><td style=\"text-align:left;\"><p>21,744</p></td><td style=\"text-align:left;\"><p>10,729</p></td><td style=\"text-align:left;\"><p>31,545</p></td></tr><tr><td style=\"text-align:left;\"><p>EBIAT to FCF</p></td><td style=\"text-align:left;\"><p>154%</p></td><td style=\"text-align:left;\"><p>75%</p></td><td style=\"text-align:left;\"><p>114%</p></td><td style=\"text-align:left;\"><p>54%</p></td><td style=\"text-align:left;\"><p>-142%</p></td><td style=\"text-align:left;\"><p>-208%</p></td><td style=\"text-align:left;\"><p>117%</p></td></tr><tr><td style=\"text-align:left;\"><p>FCF</p></td><td style=\"text-align:left;\"><p>8,307</p></td><td style=\"text-align:left;\"><p>19,400</p></td><td style=\"text-align:left;\"><p>25,800</p></td><td style=\"text-align:left;\"><p>31,020</p></td><td style=\"text-align:left;\"><p>-9,069</p></td><td style=\"text-align:left;\"><p>-11,569</p></td><td style=\"text-align:left;\"><p>36,800</p></td></tr></tbody></table><p>Click to enlarge</p><ul style=\"\"><li><p><strong>WACC:</strong> Here I used 9%, which is also higher than Amazon&#39;s current WACC meaning additional margin of safety.</p></li><li><p><strong>Perpetuity Growth Rate:</strong> Here I used 3%, which is pretty conservative for this company if you ask me.</p></li></ul><h3 id=\"id_4114785257\">Bear-Case</h3><p></p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-1728820166087182.png\"></social-image></p><p>Main Assumptions Amazon Bear-Case (aboutamazon.com; seekingalpha.com; own assumptions)</p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-17288192091753738.png\"></social-image></p><p>DCF Amazon Bear I (aboutamazon.com; seekingalpha.com; own assumptions)</p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-17288192662678003.png\"></social-image></p><p>DCF Amazon Bear II (aboutamazon.com; seekingalpha.com; own assumptions)</p><p></p><p>With our Bear-Case DCF, we get a target share price of ~$150, indicating that the company could currently be overvalued by 20%. However, keep in mind that this factors in decelerating growth rates below-market rates and lower profitability compared to competitors.</p><h2 id=\"id_738275189\">Bull-Case</h2><p></p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-17288201919055088.png\"></social-image></p><p>Main Assumptions Bull-Case (aboutamazon.com; seekingalpha.com; own assumptions)</p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-1728819551935197.png\"></social-image></p><p>DCF Amazon Bull I (aboutamazon.com; seekingalpha.com; own assumptions)</p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-17288196208292644.png\"></social-image></p><p>DCF Amazon Bull II (aboutamazon.com; seekingalpha.com; own assumptions)</p><p></p><p>The Bull-Case indicated a fair value share price of ~$318, which would translate in an undervaluation of a whopping 117%! On the other hand, they include profit margins that are larger than those of their main rivals and growth rates that surpass the market.</p><h2 id=\"id_550457842\">Conclusion</h2><p>If we take a look at the last year of our Bull-Case scenarios, we can clearly see on what segments Amazon should focus on in the upcoming years.</p><p></p><p><social-image src=\"https://static.seekingalpha.com/uploads/2024/10/13/51058349-17288202303395493.png\"></social-image></p><p>2031 Bull-Case Prediction (DCF)</p><p></p><p>The biggest EBIT contributors are the Cloud, Advertising and 3rd Party segment. This is why in the upcoming earnings call (earnings to be released on October 25th), I will lay special emphasis on the relevant metrics in these few segments. I also would prefer if Amazon starts to stop &#34;experiments&#34; like the physical stores and focus on their core growth catalysts.</p><p>With our Bear- and Bull-Case analysis, we get a miss-pricing in the range of -20% to 117%. As always, the truth is probably laying somewhere in between these two scenarios, since some risks, like another lawsuit, can&#39;t really be considered in such an DCF-analysis.</p><p>I nevertheless think that the current valuation is still a very good entry point into Amazon, considering that the assumptions we made are very realistic and could very well exactly play out as expected. That is why I currently rate the Stock a Strong Buy, with a medium term price target of $220.</p><p>If you have read this far, please consider following me for more deep-dives! Thank you so much for reading!</p><p><strong><em>Editor&#39;s Note</em></strong><em>: This article was submitted as part of Seeking Alpha&#39;s</em> <em>Best Value Idea investment competition, which runs through October 14. With cash prizes, this competition -- open to all analysts -- is one you don&#39;t want to miss. If you are interested in becoming an analyst and taking part in the competition,</em> <em>click here</em> <em>to find out more and submit your article today!</em></p><p>Editor&#39;s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon: Deep Dive Shows Massive Upside</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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon: Deep Dive Shows Massive Upside\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-15 16:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4726684-amazon-deep-dive-shows-massive-upside><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>I previously rated Amazon.com, Inc. as a Strong Buy in December 2023 with a price target of $180, which the stock has now reached.Amazon operates in six major segments: 1st Party, 3rd Party, Physical,...</p>\n\n<a href=\"https://seekingalpha.com/article/4726684-amazon-deep-dive-shows-massive-upside\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0061474960.USD":"天利环球焦点基金AU Acc","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4592":"伊斯兰概念","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","BK4507":"流媒体概念","BK4585":"ETF&股票定投概念","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","BK4566":"资本集团","BK4535":"淡马锡持仓","BK4524":"宅经济概念","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","BK4559":"巴菲特持仓","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","BK4538":"云计算","BK4550":"红杉资本持仓","BK4588":"碎股","BK4579":"人工智能","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","BK4503":"景林资产持仓","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","BK4122":"互联网与直销零售","AMZN":"亚马逊","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","BK4551":"寇图资本持仓","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0072462426.USD":"贝莱德全球配置 A2","LU0079474960.USD":"联博美国增长基金A","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","BK4561":"索罗斯持仓","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0080751232.USD":"富达环球多元动力基金A","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC"},"source_url":"https://seekingalpha.com/article/4726684-amazon-deep-dive-shows-massive-upside","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2475314672","content_text":"I previously rated Amazon.com, Inc. as a Strong Buy in December 2023 with a price target of $180, which the stock has now reached.Amazon operates in six major segments: 1st Party, 3rd Party, Physical, Subscriptions, Advertising, and Cloud, each contributing uniquely to its revenue.A Bear- and Bull-Case Discounted Cash Flow Analysis was used to evaluate Amazon, considering growth rates and EBIT-margins for each segment.Given this valuation method, the company could currently be undervalued by up to 117%.Julie ClopperIn this article, we are revisiting Amazon.com, Inc. (NASDAQ:AMZN) from my latest article on AMZN in December 2023, where I rated the company as a Strong Buy with a price target of $180. From this, the stock returned a solid 25% to today's price, meaning that we are currently pretty much at my then defined price target.My Amazon Stock Coverage (seekingalpha.com)To get a realistic valuation, we briefly analyze every business segment of AMZN, define suitable growth rates and EBIT margins for each segment and finally evaluate the whole company using a Bear- and Bull-Case Discounted Cash Flow Analysis. For more details on the different segments of Amazon and their current operations, please refer to the above-mentioned article.Starting PointSince Amazon isn't declaring the profitability of each of its business segments, we have to get a bit creative here to get a financial starting point for our following analysis. Amazon is declaring the profitability of the AWS (Cloud) segment separately from the rest, meaning we can at least use this as the first anchoring point. Since subscriptions, 1st and 3rd party are connected through offerings like free shipping with Amazon Prime, I tried to at least find a suitable profitability metric for the advertisement segment of Amazon. The two main competitors in the advertising space, Google (GOOG) (GOOGL) and Meta (META), are currently having EBIT margins in the range of 25% to 40%. For our starting point, I assumed an EBIT margin of 25% in Amazon's advertisement segment.Data by YChartsTo then get close to the stated EBIT of each year, I then broke down the remaining EBIT on the remaining business sectors for each financial year. Because some segments overlap, it is exceedingly difficult to forecast exact measurements in this case. These measurements, however, simply represent the beginning of each segment.Assumptions Starting Point (own assumptions)eCommerce (1st and 3rd Party)The eCommerce market is expected to grow at a CAGR of ~9.5% over the various markets until 2029.eCommerce Growth per Region 2024 to 2029 (statista.com)If we factor in the increasing priority of 3rd party at Amazon, we can assume the following growth rates for the eCommerce business segments.Amazon 1st vs. 3rd party sales (statista.com)Amazon share of 3rd party sales of the years (statista.com)1st PartyBear: 3% p.a.Bull: 5% p.a.3rd PartyBear: 10% p.a.Bull: 15% p.a.These seem rather conservative, factoring in the latest growth rates in the 3rd party segment of 13.9% in 2022 and 19% in 2023.The average net margin for the online retail is right around 7%.Average net margin per business segment 2022 (statista.com)I think given this metric, we can assume the following margin development for the 1st party from the above defined starting point.EBIT Margin 1st202320242025202620272028202920302031Bear-6%-3%0%2%4%5%5%5%5%Bull-6%0%2.5%5%7.5%7.5%7.5%7.5%7.5%Click to enlargeTaking a look at the 3rd party margins, it becomes apparent why Amazon is increasingly focusing in this segment. The margins of the two main competitors, eBay (EBAY) and Etsy (ETSY), are currently sitting right around 10% to 38%. While the average of eBay over the last few years was more right around 25%.Data by YChartsI think that it is reasonable to assume that Amazon will - eventually - achieve similar margins to eBay, which gives us the following assumptions:EBIT Margin 3rd202320242025202620272028202920302031Bear4.5%10%15%15%15%15%15%15%15%Bull4.5%15%25%25%25%25%25%25%25%Click to enlargePhysical StoresThis segment is a slow growth and low margin business for Amazon, taking a look at recent growth rates of this segment and the EBIT-margin of one major competitor, Kroger (KR).Amazon Physical Stores Growth(Amazon Quarterly Earnings Q1/23 to Q2/24)Data by YChartsKeeping this in mind, the following assumptions seem fitting:Bear: 3% p.a.Bull: 10% p.a.Considering the \"cashierless\" technology of Amazon in this segment, the profitability should improve, giving us the following EBIT assumptions:Bear: 5%Bull: 10%Without wasting more time with this rather unimportant segment, we jump right into the more promising segment subscriptions.SubscriptionsThe revenue growth rate in this segment is currently at around 11%, a slight decline from historical numbers of ~30%.Amazon Subscriptions Growth (Amazon Quarterly Earnings Q1/23 to Q2/24)[million USD]201820192020202120222023Revenue14,16819,21025,20731,76835,21840,761YOY Growth46%36%31%26%11%15%Click to enlargeIf we take a look at the whole streaming market, experts are currently projecting a CAGR of 18.7% for the whole market until 2031. Therefore, the following growth rates seem viable:Bear: 7.5% p.a.Bull: 15% p.a.If we now take a look at the margins of the comparable business Netflix (NFLX), the following assumptions for profitability should be suitable:Data by YChartsBear: 15%Bull: 25%.AdvertisingThe advertising segment for me is one of the most exciting and compelling business segments of Amazon. If we take a look at the financial metrics, it becomes apparent why I think so.The digital advertising spending worldwide is expected to grow at a CAGR of 15.5% until 2030.This is already pretty impressive, if we however factor in that Amazon is currently - apart from TikTok - the only major competitor that is gaining market share in this very saturated market, the prospects look even better.Share of major ad-selling companies in digital advertising (statista.com)Given this development, these growth metrics seem fitting for the advertising segment.Bear: 10% p.a.Bull: 20% p.a.Like mentioned at our starting point, the EBIT-margins of Meta and Google are currently at around 25% to 40%, with Google being suppressed by their massive Others segment. More on this issue in my latest Google article. Amazon should be able to at least achieve similar margins or might even be able to surpass these, as their ads are way more targeted towards customers that are already willing to buy something. Since they are already on Amazon's side surfing for products to buy. Because of this, I came up with the following assumptions:EBIT Margin Ads202320242025202620272028202920302031Bear25%30%30%30%30%30%30%30%30%Bull25%30%35%40%45%45%45%45%45%Click to enlargeCloud - AWSThe global cloud, market is expected to grow at a CAGR of 21.2% from 2024 to 2030. As Amazon is currently maintaining its dominant market share, a growth rate right around the market growth rate looks promising.Cloud Infrastructure Market Share per Quarter (statista.com)Bear: 15% p.a.Bull: 20% p.a.With our Bull Case, I only projected 20% annual growth because it appears unfeasible to rise beyond the market given the already massive market share and the elevated growth rate of 20% for 8 years.For the profitability, I assumed the following metrics:EBIT Margin AWS202320242025202620272028202920302031Bear27%25%25%25%25%25%25%25%25%Bull27%35%35%35%35%35%35%35%35%Click to enlargeDiscounted Cash Flow AnalysisFor our Discounted Cash Flow Analysis (\"DCF\"), we need a few additional assumptions.Tax Rate: Here I averaged out the last four years and arrived at an average tax rate of 14.4%.Free Cash Flow Conversion: I found an appropriate EBIAT to Free Cash Flow Ratio after computing the EBIAT using the tax rate given above. Since 2021 and 2022 appear to be outliers in this case, I averaged out the EBIAT To FCF from 2017 through 2020 and 2023. This gave me a conversion rate of 101%. For an additional margin of safety, I used 85% in the following DCF.2017201820192020202120222023EBIAT3,27711,10412,06920,19721,74410,72931,545EBIAT to FCF154%75%114%54%-142%-208%117%FCF8,30719,40025,80031,020-9,069-11,56936,800Click to enlargeWACC: Here I used 9%, which is also higher than Amazon's current WACC meaning additional margin of safety.Perpetuity Growth Rate: Here I used 3%, which is pretty conservative for this company if you ask me.Bear-CaseMain Assumptions Amazon Bear-Case (aboutamazon.com; seekingalpha.com; own assumptions)DCF Amazon Bear I (aboutamazon.com; seekingalpha.com; own assumptions)DCF Amazon Bear II (aboutamazon.com; seekingalpha.com; own assumptions)With our Bear-Case DCF, we get a target share price of ~$150, indicating that the company could currently be overvalued by 20%. However, keep in mind that this factors in decelerating growth rates below-market rates and lower profitability compared to competitors.Bull-CaseMain Assumptions Bull-Case (aboutamazon.com; seekingalpha.com; own assumptions)DCF Amazon Bull I (aboutamazon.com; seekingalpha.com; own assumptions)DCF Amazon Bull II (aboutamazon.com; seekingalpha.com; own assumptions)The Bull-Case indicated a fair value share price of ~$318, which would translate in an undervaluation of a whopping 117%! On the other hand, they include profit margins that are larger than those of their main rivals and growth rates that surpass the market.ConclusionIf we take a look at the last year of our Bull-Case scenarios, we can clearly see on what segments Amazon should focus on in the upcoming years.2031 Bull-Case Prediction (DCF)The biggest EBIT contributors are the Cloud, Advertising and 3rd Party segment. This is why in the upcoming earnings call (earnings to be released on October 25th), I will lay special emphasis on the relevant metrics in these few segments. I also would prefer if Amazon starts to stop \"experiments\" like the physical stores and focus on their core growth catalysts.With our Bear- and Bull-Case analysis, we get a miss-pricing in the range of -20% to 117%. As always, the truth is probably laying somewhere in between these two scenarios, since some risks, like another lawsuit, can't really be considered in such an DCF-analysis.I nevertheless think that the current valuation is still a very good entry point into Amazon, considering that the assumptions we made are very realistic and could very well exactly play out as expected. That is why I currently rate the Stock a Strong Buy, with a medium term price target of $220.If you have read this far, please consider following me for more deep-dives! Thank you so much for reading!Editor's Note: This article was submitted as part of Seeking Alpha's Best Value Idea investment competition, which runs through October 14. With cash prizes, this competition -- open to all analysts -- is one you don't want to miss. If you are interested in becoming an analyst and taking part in the competition, click here to find out more and submit your article today!Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. 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infos","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9056201606","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":14,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363393474211936,"gmtCreate":1729745651211,"gmtModify":1729745654998,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"Roy NG LENG HWEE&nbsp;","listText":"Roy NG LENG HWEE&nbsp;","text":"Roy NG LENG HWEE","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/363393474211936","repostId":"2477656484","repostType":2,"repost":{"id":"2477656484","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1729714762,"share":"https://ttm.financial/m/news/2477656484?lang=&edition=fundamental","pubTime":"2024-10-24 04:19","market":"hk","language":"en","title":"QuantumScape Q3 2024 GAAP EPS $(0.23), Inline","url":"https://stock-news.laohu8.com/highlight/detail?id=2477656484","media":"Benzinga","summary":"QuantumScape (NYSE:QS) reported quarterly losses of $(0.23) per share which met the analyst consensus estimate.","content":"<html><body><p>QuantumScape (NYSE:QS) reported quarterly losses of $(0.23) per share which met the analyst consensus estimate.</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>QuantumScape Q3 2024 GAAP EPS $(0.23), Inline</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 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class=\"title\">\nQuantumScape Q3 2024 GAAP EPS $(0.23), Inline\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2024-10-24 04:19</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>QuantumScape (NYSE:QS) reported quarterly losses of $(0.23) per share which met the analyst consensus estimate.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QS":"Quantumscape Corp."},"source_url":"https://www.benzinga.com/news/earnings/24/10/41501131/quantumscape-q3-2024-gaap-eps-0-23-inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2477656484","content_text":"QuantumScape (NYSE:QS) reported quarterly losses of $(0.23) per share which met the analyst consensus estimate.","news_type":1},"isVote":1,"tweetType":1,"viewCount":84,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363393700909184,"gmtCreate":1729745616531,"gmtModify":1729745619921,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, 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/363393700909184","repostId":"2477656484","repostType":2,"repost":{"id":"2477656484","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1729714762,"share":"https://ttm.financial/m/news/2477656484?lang=&edition=fundamental","pubTime":"2024-10-24 04:19","market":"hk","language":"en","title":"QuantumScape Q3 2024 GAAP EPS $(0.23), Inline","url":"https://stock-news.laohu8.com/highlight/detail?id=2477656484","media":"Benzinga","summary":"QuantumScape (NYSE:QS) reported quarterly losses of $(0.23) per share which met the analyst consensus estimate.","content":"<html><body><p>QuantumScape (NYSE:QS) reported quarterly losses of $(0.23) per share which met the analyst consensus estimate.</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>QuantumScape Q3 2024 GAAP EPS $(0.23), Inline</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 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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\">\nQuantumScape Q3 2024 GAAP EPS $(0.23), Inline\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2024-10-24 04:19</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>QuantumScape (NYSE:QS) reported quarterly losses of $(0.23) per share which met the analyst consensus estimate.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QS":"Quantumscape Corp."},"source_url":"https://www.benzinga.com/news/earnings/24/10/41501131/quantumscape-q3-2024-gaap-eps-0-23-inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2477656484","content_text":"QuantumScape (NYSE:QS) reported quarterly losses of $(0.23) 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HWEE","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/362627069857848","repostId":"2477404220","repostType":2,"isVote":1,"tweetType":1,"viewCount":95,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362627023081672,"gmtCreate":1729567818100,"gmtModify":1729567820355,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"Roy NG LENG HWEE","listText":"Roy NG LENG HWEE","text":"Roy NG LENG HWEE","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/362627023081672","repostId":"2477404220","repostType":2,"isVote":1,"tweetType":1,"viewCount":33,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362624165376312,"gmtCreate":1729567121579,"gmtModify":1729567433640,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"NG LENG HWEE","listText":"NG LENG HWEE","text":"NG LENG HWEE","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/362624165376312","repostId":"361095468318744","repostType":1,"repost":{"id":361095468318744,"gmtCreate":1729193755041,"gmtModify":1729193759265,"author":{"id":"4091288899223820","authorId":"4091288899223820","name":"文登股神","avatar":"https://community-static.tradeup.com/news/968554394515074fc7e84998905ba338","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4091288899223820","authorIdStr":"4091288899223820"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/ADM\">$阿彻丹尼尔斯米德兰公司(ADM)$</a> A&nbsp; Adm Yao good","listText":"<a href=\"https://ttm.financial/S/ADM\">$阿彻丹尼尔斯米德兰公司(ADM)$</a> A&nbsp; Adm Yao good","text":"$阿彻丹尼尔斯米德兰公司(ADM)$ A Adm Yao good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/361095468318744","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":10,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":364394469748904,"gmtCreate":1729973734182,"gmtModify":1729997866340,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"Replying to <a href=\"https://ttm.financial/U/4132300740238052\">@icycrystal</a>:SKY NG LENG HWEE//<a href=\"https://ttm.financial/U/4132300740238052\">@icycrystal</a>:not sure if it's the best time to invest in Chinese stock since it seems to have not recover... however, on the other hand, it may be an opportunity to buy at a good price and wait for its recovery... <a href=\"https://ttm.financial/U/4113904591642392\"> @</a><a href=\"https://ttm.financial/U/4113904591642392\">LMSunshine</a><a href=\"https://ttm.financial/U/4113904591642392\"> </a><a href=\"https://ttm.financial/U/4100927749199030\"> @</a><a href=\"https://ttm.financial/U/4100927749199030\">rL</a><a href=\"https://ttm.financial/U/4100927749199030\"> </a><a href=\"https://ttm.financial/U/3581735774790928\"> @</a>","listText":"Replying to <a href=\"https://ttm.financial/U/4132300740238052\">@icycrystal</a>:SKY NG LENG HWEE//<a href=\"https://ttm.financial/U/4132300740238052\">@icycrystal</a>:not sure if it's the best time to invest in Chinese stock since it seems to have not recover... however, on the other hand, it may be an opportunity to buy at a good price and wait for its recovery... <a href=\"https://ttm.financial/U/4113904591642392\"> @</a><a href=\"https://ttm.financial/U/4113904591642392\">LMSunshine</a><a href=\"https://ttm.financial/U/4113904591642392\"> </a><a href=\"https://ttm.financial/U/4100927749199030\"> @</a><a href=\"https://ttm.financial/U/4100927749199030\">rL</a><a href=\"https://ttm.financial/U/4100927749199030\"> </a><a href=\"https://ttm.financial/U/3581735774790928\"> @</a>","text":"Replying to @icycrystal:SKY NG LENG HWEE//@icycrystal:not sure if it's the best time to invest in Chinese stock since it seems to have not recover... however, on the other hand, it may be an opportunity to buy at a good price and wait for its recovery... @LMSunshine @rL @","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/364394469748904","isVote":1,"tweetType":1,"viewCount":146,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4141429963588842","authorId":"4141429963588842","name":"TigerGPT","avatar":"https://community-static.tradeup.com/news/5b82af1deb17dfa8f94b4741b9ea2738","crmLevel":1,"crmLevelSwitch":0,"idStr":"4141429963588842","authorIdStr":"4141429963588842"},"content":"It's true that things aren't doing very well for the Chinese stock market right now, but whether it's the best time to invest remains to be seen. Investing in stocks requires consideration of many factors, including macroeconomic conditions, industry outlook, company financial status, etc. If you think the Chinese stock market has great long-term potential and have the patience to wait for the stock price to recover, then now may be a time to consider investing. In addition, undervalued stock prices may provide better buying opportunities for investment. However, I recommend conducting adequate research and research before making investment decisions. You can pay attention to relevant news and opinions to understand the trends and forecasts of China's stock market, and you can also consider consulting professional investment consultants for more advice. It should be noted that there are risks in the stock market, so investment needs to be cautious. The above information is for reference only and does not constitute investment advice.","text":"It's true that things aren't doing very well for the Chinese stock market right now, but whether it's the best time to invest remains to be seen. Investing in stocks requires consideration of many factors, including macroeconomic conditions, industry outlook, company financial status, etc. If you think the Chinese stock market has great long-term potential and have the patience to wait for the stock price to recover, then now may be a time to consider investing. In addition, undervalued stock prices may provide better buying opportunities for investment. However, I recommend conducting adequate research and research before making investment decisions. You can pay attention to relevant news and opinions to understand the trends and forecasts of China's stock market, and you can also consider consulting professional investment consultants for more advice. It should be noted that there are risks in the stock market, so investment needs to be cautious. The above information is for reference only and does not constitute investment advice.","html":"It's true that things aren't doing very well for the Chinese stock market right now, but whether it's the best time to invest remains to be seen. Investing in stocks requires consideration of many factors, including macroeconomic conditions, industry outlook, company financial status, etc. If you think the Chinese stock market has great long-term potential and have the patience to wait for the stock price to recover, then now may be a time to consider investing. In addition, undervalued stock prices may provide better buying opportunities for investment. However, I recommend conducting adequate research and research before making investment decisions. You can pay attention to relevant news and opinions to understand the trends and forecasts of China's stock market, and you can also consider consulting professional investment consultants for more advice. It should be noted that there are risks in the stock market, so investment needs to be cautious. The above information is for reference only and does not constitute investment advice."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368205160075592,"gmtCreate":1730934405256,"gmtModify":1730934408290,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/D05.SI\">$DBS Group Holdings(D05.SI)$&nbsp;</a><v-v data-views=\"0\"></v-v>&nbsp;","listText":"<a href=\"https://ttm.financial/S/D05.SI\">$DBS Group Holdings(D05.SI)$&nbsp;</a><v-v data-views=\"0\"></v-v>&nbsp;","text":"$DBS Group Holdings(D05.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/368205160075592","isVote":1,"tweetType":1,"viewCount":70,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366341773336632,"gmtCreate":1730447221918,"gmtModify":1730447224330,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/NVDA\">$NVIDIA Corp(NVDA)$&nbsp;</a>&nbsp;","listText":"<a href=\"https://ttm.financial/S/NVDA\">$NVIDIA Corp(NVDA)$&nbsp;</a>&nbsp;","text":"$NVIDIA Corp(NVDA)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/366341773336632","isVote":1,"tweetType":1,"viewCount":14,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366312322854984,"gmtCreate":1730432288922,"gmtModify":1730432290955,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/DRUG\">$Bright Minds Biosciences Inc(DRUG)$ </a>&nbsp;","listText":"<a href=\"https://ttm.financial/S/DRUG\">$Bright Minds Biosciences Inc(DRUG)$ </a>&nbsp;","text":"$Bright Minds Biosciences Inc(DRUG)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/366312322854984","isVote":1,"tweetType":1,"viewCount":3,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365778632683776,"gmtCreate":1730341536342,"gmtModify":1730341539147,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SMCI\">$SUPER MICRO COMPUTER INC(SMCI)$&nbsp;</a><v-v data-views=\"0\"></v-v>&nbsp;","listText":"<a href=\"https://ttm.financial/S/SMCI\">$SUPER MICRO COMPUTER INC(SMCI)$&nbsp;</a><v-v data-views=\"0\"></v-v>&nbsp;","text":"$SUPER MICRO COMPUTER INC(SMCI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/365778632683776","repostId":"1190757025","repostType":2,"repost":{"id":"1190757025","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":"TH-Reuters","id":"1006801671","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"pubTimestamp":1730295528,"share":"https://ttm.financial/m/news/1190757025?lang=&edition=fundamental","pubTime":"2024-10-30 21:38","market":"us","language":"en","title":"Super Micro Shares Tank over 33% as Ernst & Young Resigns as Its Accountant","url":"https://stock-news.laohu8.com/highlight/detail?id=1190757025","media":"TH-Reuters","summary":"$Super Micro Computer (SMCI)$ shares slumped 33.75% in morning trading on Wednesday after it said Ernst & Young had resigned as its public accounting firm, over a month after Hindenburg Research alleg","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/SMCI\">Super Micro Computer </a> shares slumped 33.75% in morning trading on Wednesday after it said Ernst &amp; Young had resigned as its public accounting firm, over a month after Hindenburg Research alleged &#34;accounting manipulation&#34; at the AI server maker.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9b5e45ec9c24dd7c070ef0ad74421591\" tg-width=\"786\" tg-height=\"633\"/></p><p style=\"text-align: start;\">Ernst &amp; Young in its resignation letter said it was “unwilling to be associated with the financial statements prepared by management.” The accountancy also raised concerns about the board’s independence from CEO Charles Laing and “other members of management.”</p><p style=\"text-align: start;\">EY had been hired to audit Super Micro for the first time for the 2024 fiscal year, the company said. Super Micro has still not issued its financial statements for this year, and is reportedly under federal investigation.</p><p style=\"text-align: start;\">The auditor first flagged issues with Super Micro’s internal financial controls, governance and forthcomingness in late July, prompting the server firm to appoint a special board committee to investigate the company’s internal controls.</p><p style=\"text-align: start;\">“We are resigning due to information that has recently come to our attention which has led us to no longer be able to rely on management’s and the Audit Committee’s representations,” EY said in its resignation letter. EY’s concerns were raised prior to a short-seller report that took aim at Super Micro’s financial controls and accounting practices.</p><p style=\"text-align: start;\">Super Micro has run into trouble with regulators over its accounting practices before. It paid a $17.5 million penalty to the Securities and Exchange Commission in 2020 after the regulator alleged it prematurely and improperly recorded revenue.</p><p style=\"text-align: start;\">The company hired law firm Cooley and a forensic accounting firm to review Super Micro’s internal controls. That review remains ongoing, the company said in a regulatory filing.</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>Super Micro Shares Tank over 33% as Ernst & Young Resigns as Its Accountant</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\">\nSuper Micro Shares Tank over 33% as Ernst & Young Resigns as Its Accountant\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1006801671\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">TH-Reuters </p>\n<p class=\"h-time\">2024-10-30 21:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/SMCI\">Super Micro Computer </a> shares slumped 33.75% in morning trading on Wednesday after it said Ernst &amp; Young had resigned as its public accounting firm, over a month after Hindenburg Research alleged &#34;accounting manipulation&#34; at the AI server maker.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9b5e45ec9c24dd7c070ef0ad74421591\" tg-width=\"786\" tg-height=\"633\"/></p><p style=\"text-align: start;\">Ernst &amp; Young in its resignation letter said it was “unwilling to be associated with the financial statements prepared by management.” The accountancy also raised concerns about the board’s independence from CEO Charles Laing and “other members of management.”</p><p style=\"text-align: start;\">EY had been hired to audit Super Micro for the first time for the 2024 fiscal year, the company said. Super Micro has still not issued its financial statements for this year, and is reportedly under federal investigation.</p><p style=\"text-align: start;\">The auditor first flagged issues with Super Micro’s internal financial controls, governance and forthcomingness in late July, prompting the server firm to appoint a special board committee to investigate the company’s internal controls.</p><p style=\"text-align: start;\">“We are resigning due to information that has recently come to our attention which has led us to no longer be able to rely on management’s and the Audit Committee’s representations,” EY said in its resignation letter. EY’s concerns were raised prior to a short-seller report that took aim at Super Micro’s financial controls and accounting practices.</p><p style=\"text-align: start;\">Super Micro has run into trouble with regulators over its accounting practices before. It paid a $17.5 million penalty to the Securities and Exchange Commission in 2020 after the regulator alleged it prematurely and improperly recorded revenue.</p><p style=\"text-align: start;\">The company hired law firm Cooley and a forensic accounting firm to review Super Micro’s internal controls. That review remains ongoing, the company said in a regulatory filing.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SMCI":"超微电脑"},"source_url":"https://www.streetinsider.com/Corporate+News/Super+Micro+Computers+%28SMCI%29+Certifying+Accountant+Ernst+%26+Young+Resigns/23899201.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190757025","content_text":"Super Micro Computer  shares slumped 33.75% in morning trading on Wednesday after it said Ernst & Young had resigned as its public accounting firm, over a month after Hindenburg Research alleged \"accounting manipulation\" at the AI server maker.Ernst & Young in its resignation letter said it was “unwilling to be associated with the financial statements prepared by management.” The accountancy also raised concerns about the board’s independence from CEO Charles Laing and “other members of management.”EY had been hired to audit Super Micro for the first time for the 2024 fiscal year, the company said. Super Micro has still not issued its financial statements for this year, and is reportedly under federal investigation.The auditor first flagged issues with Super Micro’s internal financial controls, governance and forthcomingness in late July, prompting the server firm to appoint a special board committee to investigate the company’s internal controls.“We are resigning due to information that has recently come to our attention which has led us to no longer be able to rely on management’s and the Audit Committee’s representations,” EY said in its resignation letter. EY’s concerns were raised prior to a short-seller report that took aim at Super Micro’s financial controls and accounting practices.Super Micro has run into trouble with regulators over its accounting practices before. It paid a $17.5 million penalty to the Securities and Exchange Commission in 2020 after the regulator alleged it prematurely and improperly recorded revenue.The company hired law firm Cooley and a forensic accounting firm to review Super Micro’s internal controls. That review remains ongoing, the company said in a regulatory filing.","news_type":1},"isVote":1,"tweetType":1,"viewCount":51,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365778005541016,"gmtCreate":1730341381066,"gmtModify":1730341383560,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, 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/365778005541016","repostId":"1124461623","repostType":2,"repost":{"id":"1124461623","weMediaInfo":{"introduction":"Track stock‘s movements and relevant news","home_visible":1,"media_name":"Stock Track","id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"pubTimestamp":1730332044,"share":"https://ttm.financial/m/news/1124461623?lang=&edition=fundamental","pubTime":"2024-10-31 07:47","market":"us","language":"en","title":"Stock Track | Super Micro Computer Stock Plunges Over Auditor Resignation Amid Governance Concerns","url":"https://stock-news.laohu8.com/highlight/detail?id=1124461623","media":"Stock Track","summary":"Shares of Super Micro Computer Inc. , a leading provider of high-performance server solutions, plummeted by over 34% in pre-market trading on Tuesday, October 30th, 2024. The sharp decline came after the company's auditor, Ernst & Young , abruptly resigned, citing concerns over governance, transparency, and the ability to rely on representations from Super Micro's management and audit committee.In a letter to Super Micro's audit committee dated October 24th, EY stated that it was resigning due t","content":"<p>Shares of Super Micro Computer Inc. (SMCI), a leading provider of high-performance server solutions, plummeted by over 34% in pre-market trading on Tuesday, October 30th, 2024. The sharp decline came after the company's auditor, Ernst & Young (EY), abruptly resigned, citing concerns over governance, transparency, and the ability to rely on representations from Super Micro's management and audit committee.</p>\n\n<p>In a letter to Super Micro's audit committee dated October 24th, EY stated that it was resigning due to \"information that has recently come to our attention which has led us to no longer be able to rely on management's and the Audit Committee's representations and to be unwilling to be associated with the financial statements prepared by management.\"</p>\n\n<p>EY's resignation has raised serious questions about the integrity of Super Micro's financial reporting and accounting practices. The auditor had previously raised concerns about governance, transparency of communications, and internal controls over financial reporting. In response, Super Micro had appointed a special committee in late July to review these matters, engaging external legal and forensic accounting advisors.</p>","source":"ai_movement_en","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>Stock Track | Super Micro Computer Stock Plunges Over Auditor Resignation Amid Governance Concerns</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\">\nStock Track | Super Micro Computer Stock Plunges Over Auditor Resignation Amid Governance Concerns\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-10-31 07:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Shares of Super Micro Computer Inc. (SMCI), a leading provider of high-performance server solutions, plummeted by over 34% in pre-market trading on Tuesday, October 30th, 2024. The sharp decline came after the company's auditor, Ernst & Young (EY), abruptly resigned, citing concerns over governance, transparency, and the ability to rely on representations from Super Micro's management and audit committee.</p>\n\n<p>In a letter to Super Micro's audit committee dated October 24th, EY stated that it was resigning due to \"information that has recently come to our attention which has led us to no longer be able to rely on management's and the Audit Committee's representations and to be unwilling to be associated with the financial statements prepared by management.\"</p>\n\n<p>EY's resignation has raised serious questions about the integrity of Super Micro's financial reporting and accounting practices. The auditor had previously raised concerns about governance, transparency of communications, and internal controls over financial reporting. In response, Super Micro had appointed a special committee in late July to review these matters, engaging external legal and forensic accounting advisors.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SMCI":"超微电脑"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124461623","content_text":"Shares of Super Micro Computer Inc. (SMCI), a leading provider of high-performance server solutions, plummeted by over 34% in pre-market trading on Tuesday, October 30th, 2024. The sharp decline came after the company's auditor, Ernst & Young (EY), abruptly resigned, citing concerns over governance, transparency, and the ability to rely on representations from Super Micro's management and audit committee.\nIn a letter to Super Micro's audit committee dated October 24th, EY stated that it was resigning due to \"information that has recently come to our attention which has led us to no longer be able to rely on management's and the Audit Committee's representations and to be unwilling to be associated with the financial statements prepared by management.\"\nEY's resignation has raised serious questions about the integrity of Super Micro's financial reporting and accounting practices. The auditor had previously raised concerns about governance, transparency of communications, and internal controls over financial reporting. In response, Super Micro had appointed a special committee in late July to review these matters, engaging external legal and forensic accounting advisors.","news_type":1},"isVote":1,"tweetType":1,"viewCount":16,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364428837994648,"gmtCreate":1729982124460,"gmtModify":1729982128507,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, 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/364428837994648","repostId":"1151660016","repostType":4,"repost":{"id":"1151660016","weMediaInfo":{"introduction":"Track stock‘s movements and relevant news","home_visible":1,"media_name":"Stock Track","id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"pubTimestamp":1729901551,"share":"https://ttm.financial/m/news/1151660016?lang=&edition=fundamental","pubTime":"2024-10-26 08:12","market":"hk","language":"en","title":"Stock Track | Canadian Solar Shares Soar 13% on Optimism for 2025 Outlook","url":"https://stock-news.laohu8.com/highlight/detail?id=1151660016","media":"Stock Track","summary":"Shares of Canadian Solar Inc.  surged by 13.43% on Thursday, closing at $33.76, as investors grew increasingly bullish about the company's prospects for the upcoming year 2025.The rally comes amid expectations of a potential upcycle in the solar industry, which could provide a tailwind for Canadian Solar's performance. Analysts have highlighted the company's vertically integrated business model, geographical diversification, and significant project pipeline as potential catalysts for growth.Howe","content":"<p>Shares of Canadian Solar Inc. (NASDAQ: CSIQ) surged by 13.43% on Thursday, closing at $33.76, as investors grew increasingly bullish about the company's prospects for the upcoming year 2025.</p>\n\n<p>The rally comes amid expectations of a potential upcycle in the solar industry, which could provide a tailwind for Canadian Solar's performance. Analysts have highlighted the company's vertically integrated business model, geographical diversification, and significant project pipeline as potential catalysts for growth.</p>\n\n<p>However, the optimism is tempered by concerns over competition from Chinese manufacturers, geopolitical tensions, and the cyclical nature of the solar industry. Canadian Solar's significant exposure to China, where much of its production is based, could pose risks if tariffs or trade tensions escalate under a potential Trump presidency.</p>","source":"ai_movement_en","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>Stock Track | Canadian Solar Shares Soar 13% on Optimism for 2025 Outlook</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\">\nStock Track | Canadian Solar Shares Soar 13% on Optimism for 2025 Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-10-26 08:12</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Shares of Canadian Solar Inc. (NASDAQ: CSIQ) surged by 13.43% on Thursday, closing at $33.76, as investors grew increasingly bullish about the company's prospects for the upcoming year 2025.</p>\n\n<p>The rally comes amid expectations of a potential upcycle in the solar industry, which could provide a tailwind for Canadian Solar's performance. Analysts have highlighted the company's vertically integrated business model, geographical diversification, and significant project pipeline as potential catalysts for growth.</p>\n\n<p>However, the optimism is tempered by concerns over competition from Chinese manufacturers, geopolitical tensions, and the cyclical nature of the solar industry. Canadian Solar's significant exposure to China, where much of its production is based, could pose risks if tariffs or trade tensions escalate under a potential Trump presidency.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CSIQ":"阿特斯太阳能"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151660016","content_text":"Shares of Canadian Solar Inc. (NASDAQ: CSIQ) surged by 13.43% on Thursday, closing at $33.76, as investors grew increasingly bullish about the company's prospects for the upcoming year 2025.\nThe rally comes amid expectations of a potential upcycle in the solar industry, which could provide a tailwind for Canadian Solar's performance. Analysts have highlighted the company's vertically integrated business model, geographical diversification, and significant project pipeline as potential catalysts for growth.\nHowever, the optimism is tempered by concerns over competition from Chinese manufacturers, geopolitical tensions, and the cyclical nature of the solar industry. Canadian Solar's significant exposure to China, where much of its production is based, could pose risks if tariffs or trade tensions escalate under a potential Trump presidency.","news_type":1},"isVote":1,"tweetType":1,"viewCount":8,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364357029093544,"gmtCreate":1729964593397,"gmtModify":1729964596290,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/D01.SI\">$DFIRG USD(D01.SI)$&nbsp;</a>&nbsp;","listText":"<a href=\"https://ttm.financial/S/D01.SI\">$DFIRG USD(D01.SI)$&nbsp;</a>&nbsp;","text":"$DFIRG USD(D01.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364357029093544","isVote":1,"tweetType":1,"viewCount":85,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364349136376048,"gmtCreate":1729962752480,"gmtModify":1729997928488,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"title":"Happy 59th Birthday Singapore!","htmlText":"Find out more here:<a href=\"https://tigr.link/to?data=aHR0cHM6Ly9zZy5ldGFzcGhlcmUuY29tL3NnL21hcmtldGluZy93ZWxjb21lc2cwOD9pc19pbnZpdGU9dHJ1ZSZ1dG1fY2FtcGFpZ249QUMxNzEzMTcxNjA3NzU2dUthcWNRJmFkY29kZT1BQzE3MTMxNjc1NjYxNTRQaGdNQWgmdXRtX21lZGl1bT10aWdlcl9jb21tdW5pdHkmc2tpbj0xJmVkaXRpb249ZnVuZGFtZW50YWwmc2hhcmVJRD1hYzdkNDY0NGIyNWQ5MzNjYWFhN2M3NjAxZjk4MGU1OSZwbGF0Zm9ybT1hbmRyb2lkJmFjY291bnRfZGlzcGxheT1nbG9iYWwmb3JpZ2luYWxfbW9kdWxlPW15X3Byb2ZpbGVfYWN0aXZpdHkmaW52aXRlPUI2QUg1SCZsYW5nPWVuX05aJnV0bV9zb3VyY2U9aW52aXRl\">Happy 59th Birthday Singapore!</a> Join us to receive up to USD 1006 rewards Roy NG LENG HWEE&nbsp;","listText":"Find out more here:<a href=\"https://tigr.link/to?data=aHR0cHM6Ly9zZy5ldGFzcGhlcmUuY29tL3NnL21hcmtldGluZy93ZWxjb21lc2cwOD9pc19pbnZpdGU9dHJ1ZSZ1dG1fY2FtcGFpZ249QUMxNzEzMTcxNjA3NzU2dUthcWNRJmFkY29kZT1BQzE3MTMxNjc1NjYxNTRQaGdNQWgmdXRtX21lZGl1bT10aWdlcl9jb21tdW5pdHkmc2tpbj0xJmVkaXRpb249ZnVuZGFtZW50YWwmc2hhcmVJRD1hYzdkNDY0NGIyNWQ5MzNjYWFhN2M3NjAxZjk4MGU1OSZwbGF0Zm9ybT1hbmRyb2lkJmFjY291bnRfZGlzcGxheT1nbG9iYWwmb3JpZ2luYWxfbW9kdWxlPW15X3Byb2ZpbGVfYWN0aXZpdHkmaW52aXRlPUI2QUg1SCZsYW5nPWVuX05aJnV0bV9zb3VyY2U9aW52aXRl\">Happy 59th Birthday Singapore!</a> Join us to receive up to USD 1006 rewards Roy NG LENG HWEE&nbsp;","text":"Find out more here:Happy 59th Birthday Singapore! Join us to receive up to USD 1006 rewards Roy NG LENG HWEE","images":[],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/364349136376048","isVote":1,"tweetType":1,"viewCount":22,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364215818895360,"gmtCreate":1729930116923,"gmtModify":1729930119069,"author":{"id":"4192641781859792","authorId":"4192641781859792","name":"Roy ong and Motorless are gay boy","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4192641781859792","authorIdStr":"4192641781859792"},"themes":[],"htmlText":"SKY NG LENG HWEE&nbsp;","listText":"SKY NG LENG HWEE&nbsp;","text":"SKY NG LENG 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HWEE","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/363393474211936","repostId":"2477656484","repostType":2,"repost":{"id":"2477656484","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1729714762,"share":"https://ttm.financial/m/news/2477656484?lang=&edition=fundamental","pubTime":"2024-10-24 04:19","market":"hk","language":"en","title":"QuantumScape Q3 2024 GAAP EPS $(0.23), Inline","url":"https://stock-news.laohu8.com/highlight/detail?id=2477656484","media":"Benzinga","summary":"QuantumScape (NYSE:QS) reported quarterly losses of $(0.23) per share which met the analyst consensus estimate.","content":"<html><body><p>QuantumScape (NYSE:QS) reported quarterly losses of $(0.23) per share which met the analyst consensus estimate.</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>QuantumScape Q3 2024 GAAP EPS $(0.23), Inline</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 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class=\"title\">\nQuantumScape Q3 2024 GAAP EPS $(0.23), Inline\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2024-10-24 04:19</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>QuantumScape (NYSE:QS) reported quarterly losses of $(0.23) per share which met the analyst consensus estimate.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QS":"Quantumscape Corp."},"source_url":"https://www.benzinga.com/news/earnings/24/10/41501131/quantumscape-q3-2024-gaap-eps-0-23-inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2477656484","content_text":"QuantumScape (NYSE:QS) reported quarterly losses of $(0.23) 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