The Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.

81
4
Favorite

The Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.

Barrons2021-08-17

The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（4）

SXZX2026
·2021-08-17
Lead time is long
Reply
1
Report
Alvin1975
·2021-08-17
Like pls
Reply
Like
Report
Fold Replies
- Alvin1975:
  LiKe pls
  2021-08-17
  Reply
  Report
WarenKong
·2021-08-17
Like n comment
Reply
3
Report
Fold Replies
- Tigal80:
  yes
  2021-08-17
  Reply
  Report
Narayanan
·2021-08-17
Like
Reply
11
Report
Fold Replies
- Narayanan:
  Comment
  2021-08-17
  Reply
  Report
- WarenKong:
  Like n comment
  2021-08-17
  Reply
  Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1176063500?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-08-17 11:17","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1176063500","market":"us","top_or_hot":-1,"title":"The Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.","media":"Barrons","content":"<div>\n<p>The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA\">Source Link</a>\n\n</div>\n","source":"lsy1601382232898","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-17 11:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TSLA","symbol_name":"特斯拉","start_time":0,"source_url":"https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA","article_id":"1176063500","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1176063500","pubTimestamp":1629170268,"sourceInfo":{"source_id":"lsy1601382232898","name":"Barrons"},"weMediaInfo":null,"summary":"The automotive-semiconductor shortage is constraining global car production, leading to low inventor","collect":0,"end_time":0,"defaultTopTitle":"barrons.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"TSLA":"特斯拉","F":"福特汽车","GM":"通用汽车","APTV":"Aptiv PLC"},"translate_title":"芯片短缺可能会持续数年。对汽车股来说，这并不全是坏事。","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"APTV":0.9,"F":0.9,"GM":0.9,"TSLA":0.9},"content_text":"The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car stocks, however. Still, it’s better to sell cars when consumers want them, instead of hoping that demand for new vehicles will remain when the chip shortage is eventually resolved.\nThe chip shortage is a result of many factors. For starters, car companies stopped ordering supplies at the onset of the pandemic. Cash conservation was of paramount importance as demand dried up. Consumer-electronics companies didn’t react as severely, and when car demand came back stronger than expected, the capacity for chips just wasn’t there.\nActs of God didn’t help either. Afire at a chip plant in Japan limited production. So did the cold weather snap in Texas. Now Covid is hurting production again in Malaysia.\n“Many, if not all, of these factors would appear to be transient,” writes RBC analyst Joe Spak in a Sunday research report. “There could be structural reasons why semi capacity may limit automotive production over the coming years.” Chips might be in short supply for a long time. He cites a couple of reasons.\nFirst is electric vehicles. EVs require more semiconductor technology, writes Spak. Managing power from batteries along with charging curves are all, essentially, computing problems. Autonomous-driving features increasingly common on cars also require lots of computing power.\nNext is what Spak calls “automotive inflexibility.” Automotive chips tend to be older, more-proven technology. The car business prioritizes reliability. But chip companies don’t like investing in older tech.\nAnother factor mentioned tangentially by Spak: the consumer-electronics industry isn’t going to shrink. It will demand more and more chips in the future.\nOne fix is for car companies to adopt new technology, but that will take time. He says that could benefit Aptiv(ticker: APTV)—a parts supplier that manages electrical architecture in vehicles. He rates the stock at Buy and has a $188 price target.\nSpak says global light-vehicle production could be limited to about 90 million cars a year for the foreseeable future—regardless of what vehicle demand turns out to be. That’s flat with average production from recent, pre-pandemic years. That means new vehicle inventories will be lower for longer. That isn’t all bad for the industry, though. That would mean better pricing for auto makers. Car companies would also build the nicest cars. The chip shortage has been good for vehicle mix.\nCar stocks are still doing well, despite the shortage. The mix and pricing benefits have far outweighed any negatives so far.Ford Motor(F) stock is up 53% year to date, better than the 18% and 16% comparable, respective returns of the S&P 500 index and Dow Jones Industrial Average.\nGeneral Motors(GM) stock is up 27% year to date. Still, GM stock is down almost 9% since the company gave disappointing earnings guidance for the second half of 2021 on its Aug. 4 earnings conference call. There are a few reasons for weaker-than-expected guidance, but the chip shortage is one of them.\nThe industry might benefit from low inventories, but investors still have to deal with volatility from the chip situation.\nThe biggest risk for the auto industry might be that car demand could dry up before the chip situation is resolved. Then the cars consumers want to buy today might never be sold.","kind":null,"is_publish_news":false,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":839794322,"gmtCreate":1629179963766,"gmtModify":1676529955874,"author":{"id":"3555288390119843","authorId":"3555288390119843","name":"SXZX2026","avatar":"https://static.tigerbbs.com/77ce9bd591611bdaa026b6c3ada85d2c","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Lead time is long","listText":"Lead time is long","text":"Lead time is long","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/839794322","repostId":1176063500,"repostType":2,"repost":{"id":"1176063500","pubTimestamp":1629170268,"share":"https://www.laohu8.com/m/news/1176063500?lang=&edition=full","pubTime":"2021-08-17 11:17","market":"us","language":"en","title":"The Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.","url":"https://stock-news.laohu8.com/highlight/detail?id=1176063500","media":"Barrons","summary":"The automotive-semiconductor shortage is constraining global car production, leading to low inventor","content":"<p>The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car stocks, however. Still, it’s better to sell cars when consumers want them, instead of hoping that demand for new vehicles will remain when the chip shortage is eventually resolved.</p>\n<p>The chip shortage is a result of many factors. For starters, car companies stopped ordering supplies at the onset of the pandemic. Cash conservation&nbsp;was of paramount importance as demand dried up. Consumer-electronics companies didn’t react as severely, and when car demand came back stronger than expected, the capacity for chips just wasn’t there.</p>\n<p>Acts of God didn’t help either. Afire at a chip plant&nbsp;in Japan limited production. So did the&nbsp;cold weather snap&nbsp;in Texas. Now Covid is hurting production again in&nbsp;Malaysia.</p>\n<p>“Many, if not all, of these factors would appear to be transient,” writes RBC analyst&nbsp;Joe Spak&nbsp;in a Sunday research report. “There could be structural reasons why semi capacity may limit automotive production over the coming years.” Chips might be in short supply for a long time. He cites a couple of reasons.</p>\n<p>First is electric vehicles. EVs require more semiconductor technology, writes Spak. Managing power from batteries along with charging curves are all, essentially, computing problems. Autonomous-driving features increasingly common on cars also require lots of computing power.</p>\n<p>Next is what Spak calls “automotive inflexibility.” Automotive chips tend to be older, more-proven technology. The car business prioritizes reliability. But chip companies don’t like investing in older tech.</p>\n<p>Another factor mentioned tangentially by Spak: the consumer-electronics industry isn’t going to shrink. It will demand more and more chips in the future.</p>\n<p>One fix is for car companies to adopt new technology, but that will take time. He says that could benefit&nbsp;Aptiv(ticker: APTV)—a parts supplier that manages electrical architecture in vehicles. He rates the stock at Buy and has a $188 price target.</p>\n<p>Spak says global light-vehicle production could be limited to about 90 million cars a year for the foreseeable future—regardless of what vehicle demand turns out to be. That’s flat with average production from recent, pre-pandemic years. That means new vehicle inventories will be lower for longer. That isn’t all bad for the industry, though. That would mean better pricing for auto makers. Car companies would also build the nicest cars. The chip shortage has been good for vehicle mix.</p>\n<p>Car stocks are still doing well, despite the shortage. The mix and pricing benefits have far outweighed any negatives so far.Ford Motor(F) stock is up 53% year to date, better than the 18% and 16% comparable, respective returns of the&nbsp;S&amp;P 500 index&nbsp;and&nbsp;Dow Jones Industrial Average.</p>\n<p>General Motors(GM) stock is up 27% year to date. Still, GM stock is down almost 9% since the company gave disappointing earnings guidance for the second half of 2021 on its Aug. 4 earnings conference call. There are a few reasons for weaker-than-expected guidance, but the chip shortage is one of them.</p>\n<p>The industry might benefit from low inventories, but investors still have to deal with volatility from the chip situation.</p>\n<p>The biggest risk for the auto industry might be that car demand could dry up before the chip situation is resolved. Then the cars consumers want to buy today might never be sold.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-17 11:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GM":"通用汽车","TSLA":"特斯拉","F":"福特汽车","APTV":"Aptiv PLC"},"source_url":"https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176063500","content_text":"The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car stocks, however. Still, it’s better to sell cars when consumers want them, instead of hoping that demand for new vehicles will remain when the chip shortage is eventually resolved.\nThe chip shortage is a result of many factors. For starters, car companies stopped ordering supplies at the onset of the pandemic. Cash conservation was of paramount importance as demand dried up. Consumer-electronics companies didn’t react as severely, and when car demand came back stronger than expected, the capacity for chips just wasn’t there.\nActs of God didn’t help either. Afire at a chip plant in Japan limited production. So did the cold weather snap in Texas. Now Covid is hurting production again in Malaysia.\n“Many, if not all, of these factors would appear to be transient,” writes RBC analyst Joe Spak in a Sunday research report. “There could be structural reasons why semi capacity may limit automotive production over the coming years.” Chips might be in short supply for a long time. He cites a couple of reasons.\nFirst is electric vehicles. EVs require more semiconductor technology, writes Spak. Managing power from batteries along with charging curves are all, essentially, computing problems. Autonomous-driving features increasingly common on cars also require lots of computing power.\nNext is what Spak calls “automotive inflexibility.” Automotive chips tend to be older, more-proven technology. The car business prioritizes reliability. But chip companies don’t like investing in older tech.\nAnother factor mentioned tangentially by Spak: the consumer-electronics industry isn’t going to shrink. It will demand more and more chips in the future.\nOne fix is for car companies to adopt new technology, but that will take time. He says that could benefit Aptiv(ticker: APTV)—a parts supplier that manages electrical architecture in vehicles. He rates the stock at Buy and has a $188 price target.\nSpak says global light-vehicle production could be limited to about 90 million cars a year for the foreseeable future—regardless of what vehicle demand turns out to be. That’s flat with average production from recent, pre-pandemic years. That means new vehicle inventories will be lower for longer. That isn’t all bad for the industry, though. That would mean better pricing for auto makers. Car companies would also build the nicest cars. The chip shortage has been good for vehicle mix.\nCar stocks are still doing well, despite the shortage. The mix and pricing benefits have far outweighed any negatives so far.Ford Motor(F) stock is up 53% year to date, better than the 18% and 16% comparable, respective returns of the S&P 500 index and Dow Jones Industrial Average.\nGeneral Motors(GM) stock is up 27% year to date. Still, GM stock is down almost 9% since the company gave disappointing earnings guidance for the second half of 2021 on its Aug. 4 earnings conference call. There are a few reasons for weaker-than-expected guidance, but the chip shortage is one of them.\nThe industry might benefit from low inventories, but investors still have to deal with volatility from the chip situation.\nThe biggest risk for the auto industry might be that car demand could dry up before the chip situation is resolved. Then the cars consumers want to buy today might never be sold.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":839450549,"gmtCreate":1629175977781,"gmtModify":1676529954523,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/839450549","repostId":1176063500,"repostType":4,"repost":{"id":"1176063500","pubTimestamp":1629170268,"share":"https://www.laohu8.com/m/news/1176063500?lang=&edition=full","pubTime":"2021-08-17 11:17","market":"us","language":"en","title":"The Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.","url":"https://stock-news.laohu8.com/highlight/detail?id=1176063500","media":"Barrons","summary":"The automotive-semiconductor shortage is constraining global car production, leading to low inventor","content":"<p>The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car stocks, however. Still, it’s better to sell cars when consumers want them, instead of hoping that demand for new vehicles will remain when the chip shortage is eventually resolved.</p>\n<p>The chip shortage is a result of many factors. For starters, car companies stopped ordering supplies at the onset of the pandemic. Cash conservation&nbsp;was of paramount importance as demand dried up. Consumer-electronics companies didn’t react as severely, and when car demand came back stronger than expected, the capacity for chips just wasn’t there.</p>\n<p>Acts of God didn’t help either. Afire at a chip plant&nbsp;in Japan limited production. So did the&nbsp;cold weather snap&nbsp;in Texas. Now Covid is hurting production again in&nbsp;Malaysia.</p>\n<p>“Many, if not all, of these factors would appear to be transient,” writes RBC analyst&nbsp;Joe Spak&nbsp;in a Sunday research report. “There could be structural reasons why semi capacity may limit automotive production over the coming years.” Chips might be in short supply for a long time. He cites a couple of reasons.</p>\n<p>First is electric vehicles. EVs require more semiconductor technology, writes Spak. Managing power from batteries along with charging curves are all, essentially, computing problems. Autonomous-driving features increasingly common on cars also require lots of computing power.</p>\n<p>Next is what Spak calls “automotive inflexibility.” Automotive chips tend to be older, more-proven technology. The car business prioritizes reliability. But chip companies don’t like investing in older tech.</p>\n<p>Another factor mentioned tangentially by Spak: the consumer-electronics industry isn’t going to shrink. It will demand more and more chips in the future.</p>\n<p>One fix is for car companies to adopt new technology, but that will take time. He says that could benefit&nbsp;Aptiv(ticker: APTV)—a parts supplier that manages electrical architecture in vehicles. He rates the stock at Buy and has a $188 price target.</p>\n<p>Spak says global light-vehicle production could be limited to about 90 million cars a year for the foreseeable future—regardless of what vehicle demand turns out to be. That’s flat with average production from recent, pre-pandemic years. That means new vehicle inventories will be lower for longer. That isn’t all bad for the industry, though. That would mean better pricing for auto makers. Car companies would also build the nicest cars. The chip shortage has been good for vehicle mix.</p>\n<p>Car stocks are still doing well, despite the shortage. The mix and pricing benefits have far outweighed any negatives so far.Ford Motor(F) stock is up 53% year to date, better than the 18% and 16% comparable, respective returns of the&nbsp;S&amp;P 500 index&nbsp;and&nbsp;Dow Jones Industrial Average.</p>\n<p>General Motors(GM) stock is up 27% year to date. Still, GM stock is down almost 9% since the company gave disappointing earnings guidance for the second half of 2021 on its Aug. 4 earnings conference call. There are a few reasons for weaker-than-expected guidance, but the chip shortage is one of them.</p>\n<p>The industry might benefit from low inventories, but investors still have to deal with volatility from the chip situation.</p>\n<p>The biggest risk for the auto industry might be that car demand could dry up before the chip situation is resolved. Then the cars consumers want to buy today might never be sold.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-17 11:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GM":"通用汽车","TSLA":"特斯拉","F":"福特汽车","APTV":"Aptiv PLC"},"source_url":"https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176063500","content_text":"The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car stocks, however. Still, it’s better to sell cars when consumers want them, instead of hoping that demand for new vehicles will remain when the chip shortage is eventually resolved.\nThe chip shortage is a result of many factors. For starters, car companies stopped ordering supplies at the onset of the pandemic. Cash conservation was of paramount importance as demand dried up. Consumer-electronics companies didn’t react as severely, and when car demand came back stronger than expected, the capacity for chips just wasn’t there.\nActs of God didn’t help either. Afire at a chip plant in Japan limited production. So did the cold weather snap in Texas. Now Covid is hurting production again in Malaysia.\n“Many, if not all, of these factors would appear to be transient,” writes RBC analyst Joe Spak in a Sunday research report. “There could be structural reasons why semi capacity may limit automotive production over the coming years.” Chips might be in short supply for a long time. He cites a couple of reasons.\nFirst is electric vehicles. EVs require more semiconductor technology, writes Spak. Managing power from batteries along with charging curves are all, essentially, computing problems. Autonomous-driving features increasingly common on cars also require lots of computing power.\nNext is what Spak calls “automotive inflexibility.” Automotive chips tend to be older, more-proven technology. The car business prioritizes reliability. But chip companies don’t like investing in older tech.\nAnother factor mentioned tangentially by Spak: the consumer-electronics industry isn’t going to shrink. It will demand more and more chips in the future.\nOne fix is for car companies to adopt new technology, but that will take time. He says that could benefit Aptiv(ticker: APTV)—a parts supplier that manages electrical architecture in vehicles. He rates the stock at Buy and has a $188 price target.\nSpak says global light-vehicle production could be limited to about 90 million cars a year for the foreseeable future—regardless of what vehicle demand turns out to be. That’s flat with average production from recent, pre-pandemic years. That means new vehicle inventories will be lower for longer. That isn’t all bad for the industry, though. That would mean better pricing for auto makers. Car companies would also build the nicest cars. The chip shortage has been good for vehicle mix.\nCar stocks are still doing well, despite the shortage. The mix and pricing benefits have far outweighed any negatives so far.Ford Motor(F) stock is up 53% year to date, better than the 18% and 16% comparable, respective returns of the S&P 500 index and Dow Jones Industrial Average.\nGeneral Motors(GM) stock is up 27% year to date. Still, GM stock is down almost 9% since the company gave disappointing earnings guidance for the second half of 2021 on its Aug. 4 earnings conference call. There are a few reasons for weaker-than-expected guidance, but the chip shortage is one of them.\nThe industry might benefit from low inventories, but investors still have to deal with volatility from the chip situation.\nThe biggest risk for the auto industry might be that car demand could dry up before the chip situation is resolved. Then the cars consumers want to buy today might never be sold.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5552566,"gmtCreate":1629175991527,"gmtModify":1663232489839,"authorId":3573788625955643,"author":{"id":3573788625955643,"authorId":3573788625955643,"name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.10.13","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":839450549,"type":1,"supId":0,"prevId":0,"content":"LiKe pls","text":"LiKe pls","html":"LiKe pls"}],"langContent":"EN"},{"id":839495908,"gmtCreate":1629171493104,"gmtModify":1676529953146,"author":{"id":"4088169240998280","authorId":"4088169240998280","name":"WarenKong","avatar":"https://static.tigerbbs.com/5055a79d76db4aeb24a509efb6b3d1db","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like n comment","listText":"Like n comment","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/839495908","repostId":1176063500,"repostType":4,"repost":{"id":"1176063500","pubTimestamp":1629170268,"share":"https://www.laohu8.com/m/news/1176063500?lang=&edition=full","pubTime":"2021-08-17 11:17","market":"us","language":"en","title":"The Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.","url":"https://stock-news.laohu8.com/highlight/detail?id=1176063500","media":"Barrons","summary":"The automotive-semiconductor shortage is constraining global car production, leading to low inventor","content":"<p>The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car stocks, however. Still, it’s better to sell cars when consumers want them, instead of hoping that demand for new vehicles will remain when the chip shortage is eventually resolved.</p>\n<p>The chip shortage is a result of many factors. For starters, car companies stopped ordering supplies at the onset of the pandemic. Cash conservation&nbsp;was of paramount importance as demand dried up. Consumer-electronics companies didn’t react as severely, and when car demand came back stronger than expected, the capacity for chips just wasn’t there.</p>\n<p>Acts of God didn’t help either. Afire at a chip plant&nbsp;in Japan limited production. So did the&nbsp;cold weather snap&nbsp;in Texas. Now Covid is hurting production again in&nbsp;Malaysia.</p>\n<p>“Many, if not all, of these factors would appear to be transient,” writes RBC analyst&nbsp;Joe Spak&nbsp;in a Sunday research report. “There could be structural reasons why semi capacity may limit automotive production over the coming years.” Chips might be in short supply for a long time. He cites a couple of reasons.</p>\n<p>First is electric vehicles. EVs require more semiconductor technology, writes Spak. Managing power from batteries along with charging curves are all, essentially, computing problems. Autonomous-driving features increasingly common on cars also require lots of computing power.</p>\n<p>Next is what Spak calls “automotive inflexibility.” Automotive chips tend to be older, more-proven technology. The car business prioritizes reliability. But chip companies don’t like investing in older tech.</p>\n<p>Another factor mentioned tangentially by Spak: the consumer-electronics industry isn’t going to shrink. It will demand more and more chips in the future.</p>\n<p>One fix is for car companies to adopt new technology, but that will take time. He says that could benefit&nbsp;Aptiv(ticker: APTV)—a parts supplier that manages electrical architecture in vehicles. He rates the stock at Buy and has a $188 price target.</p>\n<p>Spak says global light-vehicle production could be limited to about 90 million cars a year for the foreseeable future—regardless of what vehicle demand turns out to be. That’s flat with average production from recent, pre-pandemic years. That means new vehicle inventories will be lower for longer. That isn’t all bad for the industry, though. That would mean better pricing for auto makers. Car companies would also build the nicest cars. The chip shortage has been good for vehicle mix.</p>\n<p>Car stocks are still doing well, despite the shortage. The mix and pricing benefits have far outweighed any negatives so far.Ford Motor(F) stock is up 53% year to date, better than the 18% and 16% comparable, respective returns of the&nbsp;S&amp;P 500 index&nbsp;and&nbsp;Dow Jones Industrial Average.</p>\n<p>General Motors(GM) stock is up 27% year to date. Still, GM stock is down almost 9% since the company gave disappointing earnings guidance for the second half of 2021 on its Aug. 4 earnings conference call. There are a few reasons for weaker-than-expected guidance, but the chip shortage is one of them.</p>\n<p>The industry might benefit from low inventories, but investors still have to deal with volatility from the chip situation.</p>\n<p>The biggest risk for the auto industry might be that car demand could dry up before the chip situation is resolved. Then the cars consumers want to buy today might never be sold.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-17 11:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GM":"通用汽车","TSLA":"特斯拉","F":"福特汽车","APTV":"Aptiv PLC"},"source_url":"https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176063500","content_text":"The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car stocks, however. Still, it’s better to sell cars when consumers want them, instead of hoping that demand for new vehicles will remain when the chip shortage is eventually resolved.\nThe chip shortage is a result of many factors. For starters, car companies stopped ordering supplies at the onset of the pandemic. Cash conservation was of paramount importance as demand dried up. Consumer-electronics companies didn’t react as severely, and when car demand came back stronger than expected, the capacity for chips just wasn’t there.\nActs of God didn’t help either. Afire at a chip plant in Japan limited production. So did the cold weather snap in Texas. Now Covid is hurting production again in Malaysia.\n“Many, if not all, of these factors would appear to be transient,” writes RBC analyst Joe Spak in a Sunday research report. “There could be structural reasons why semi capacity may limit automotive production over the coming years.” Chips might be in short supply for a long time. He cites a couple of reasons.\nFirst is electric vehicles. EVs require more semiconductor technology, writes Spak. Managing power from batteries along with charging curves are all, essentially, computing problems. Autonomous-driving features increasingly common on cars also require lots of computing power.\nNext is what Spak calls “automotive inflexibility.” Automotive chips tend to be older, more-proven technology. The car business prioritizes reliability. But chip companies don’t like investing in older tech.\nAnother factor mentioned tangentially by Spak: the consumer-electronics industry isn’t going to shrink. It will demand more and more chips in the future.\nOne fix is for car companies to adopt new technology, but that will take time. He says that could benefit Aptiv(ticker: APTV)—a parts supplier that manages electrical architecture in vehicles. He rates the stock at Buy and has a $188 price target.\nSpak says global light-vehicle production could be limited to about 90 million cars a year for the foreseeable future—regardless of what vehicle demand turns out to be. That’s flat with average production from recent, pre-pandemic years. That means new vehicle inventories will be lower for longer. That isn’t all bad for the industry, though. That would mean better pricing for auto makers. Car companies would also build the nicest cars. The chip shortage has been good for vehicle mix.\nCar stocks are still doing well, despite the shortage. The mix and pricing benefits have far outweighed any negatives so far.Ford Motor(F) stock is up 53% year to date, better than the 18% and 16% comparable, respective returns of the S&P 500 index and Dow Jones Industrial Average.\nGeneral Motors(GM) stock is up 27% year to date. Still, GM stock is down almost 9% since the company gave disappointing earnings guidance for the second half of 2021 on its Aug. 4 earnings conference call. There are a few reasons for weaker-than-expected guidance, but the chip shortage is one of them.\nThe industry might benefit from low inventories, but investors still have to deal with volatility from the chip situation.\nThe biggest risk for the auto industry might be that car demand could dry up before the chip situation is resolved. Then the cars consumers want to buy today might never be sold.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5552499,"gmtCreate":1629175497440,"gmtModify":1663232488842,"authorId":3575390834397772,"author":{"id":3575390834397772,"authorId":3575390834397772,"name":"Tigal80","avatar":"https://static.tigerbbs.com/86f76710483a16eae0642572ffa5f1be","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-1","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Boss Tiger","description":"The transaction amount of the securities account reaches $100,000","bigImgUrl":"https://static.tigerbbs.com/c8dfc27c1ee0e25db1c93e9d0b641101","smallImgUrl":"https://static.tigerbbs.com/f43908c142f8a33c78f5bdf0e2897488","grayImgUrl":"https://static.tigerbbs.com/82165ff19cb8a786e8919f92acee5213","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"60.84%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":839495908,"type":1,"supId":0,"prevId":0,"content":"yes","text":"yes","html":"yes"}],"langContent":"EN"},{"id":839499051,"gmtCreate":1629171049273,"gmtModify":1676529952986,"author":{"id":"3568948415316733","authorId":"3568948415316733","name":"Narayanan","avatar":"https://static.tigerbbs.com/56c8ad986932bbfda0ed07033a264bd0","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/839499051","repostId":1176063500,"repostType":4,"repost":{"id":"1176063500","pubTimestamp":1629170268,"share":"https://www.laohu8.com/m/news/1176063500?lang=&edition=full","pubTime":"2021-08-17 11:17","market":"us","language":"en","title":"The Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.","url":"https://stock-news.laohu8.com/highlight/detail?id=1176063500","media":"Barrons","summary":"The automotive-semiconductor shortage is constraining global car production, leading to low inventor","content":"<p>The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car stocks, however. Still, it’s better to sell cars when consumers want them, instead of hoping that demand for new vehicles will remain when the chip shortage is eventually resolved.</p>\n<p>The chip shortage is a result of many factors. For starters, car companies stopped ordering supplies at the onset of the pandemic. Cash conservation&nbsp;was of paramount importance as demand dried up. Consumer-electronics companies didn’t react as severely, and when car demand came back stronger than expected, the capacity for chips just wasn’t there.</p>\n<p>Acts of God didn’t help either. Afire at a chip plant&nbsp;in Japan limited production. So did the&nbsp;cold weather snap&nbsp;in Texas. Now Covid is hurting production again in&nbsp;Malaysia.</p>\n<p>“Many, if not all, of these factors would appear to be transient,” writes RBC analyst&nbsp;Joe Spak&nbsp;in a Sunday research report. “There could be structural reasons why semi capacity may limit automotive production over the coming years.” Chips might be in short supply for a long time. He cites a couple of reasons.</p>\n<p>First is electric vehicles. EVs require more semiconductor technology, writes Spak. Managing power from batteries along with charging curves are all, essentially, computing problems. Autonomous-driving features increasingly common on cars also require lots of computing power.</p>\n<p>Next is what Spak calls “automotive inflexibility.” Automotive chips tend to be older, more-proven technology. The car business prioritizes reliability. But chip companies don’t like investing in older tech.</p>\n<p>Another factor mentioned tangentially by Spak: the consumer-electronics industry isn’t going to shrink. It will demand more and more chips in the future.</p>\n<p>One fix is for car companies to adopt new technology, but that will take time. He says that could benefit&nbsp;Aptiv(ticker: APTV)—a parts supplier that manages electrical architecture in vehicles. He rates the stock at Buy and has a $188 price target.</p>\n<p>Spak says global light-vehicle production could be limited to about 90 million cars a year for the foreseeable future—regardless of what vehicle demand turns out to be. That’s flat with average production from recent, pre-pandemic years. That means new vehicle inventories will be lower for longer. That isn’t all bad for the industry, though. That would mean better pricing for auto makers. Car companies would also build the nicest cars. The chip shortage has been good for vehicle mix.</p>\n<p>Car stocks are still doing well, despite the shortage. The mix and pricing benefits have far outweighed any negatives so far.Ford Motor(F) stock is up 53% year to date, better than the 18% and 16% comparable, respective returns of the&nbsp;S&amp;P 500 index&nbsp;and&nbsp;Dow Jones Industrial Average.</p>\n<p>General Motors(GM) stock is up 27% year to date. Still, GM stock is down almost 9% since the company gave disappointing earnings guidance for the second half of 2021 on its Aug. 4 earnings conference call. There are a few reasons for weaker-than-expected guidance, but the chip shortage is one of them.</p>\n<p>The industry might benefit from low inventories, but investors still have to deal with volatility from the chip situation.</p>\n<p>The biggest risk for the auto industry might be that car demand could dry up before the chip situation is resolved. Then the cars consumers want to buy today might never be sold.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Chip Shortage Could Last Years. It Isn’t All Bad for Auto Stocks.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-17 11:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car ...</p>\n\n<a href=\"https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GM":"通用汽车","TSLA":"特斯拉","F":"福特汽车","APTV":"Aptiv PLC"},"source_url":"https://www.barrons.com/articles/chip-shortage-auto-stocks-51629133890?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176063500","content_text":"The automotive-semiconductor shortage is constraining global car production, leading to low inventories and high prices for new and used vehicles. It could last for years. That isn’t all bad for car stocks, however. Still, it’s better to sell cars when consumers want them, instead of hoping that demand for new vehicles will remain when the chip shortage is eventually resolved.\nThe chip shortage is a result of many factors. For starters, car companies stopped ordering supplies at the onset of the pandemic. Cash conservation was of paramount importance as demand dried up. Consumer-electronics companies didn’t react as severely, and when car demand came back stronger than expected, the capacity for chips just wasn’t there.\nActs of God didn’t help either. Afire at a chip plant in Japan limited production. So did the cold weather snap in Texas. Now Covid is hurting production again in Malaysia.\n“Many, if not all, of these factors would appear to be transient,” writes RBC analyst Joe Spak in a Sunday research report. “There could be structural reasons why semi capacity may limit automotive production over the coming years.” Chips might be in short supply for a long time. He cites a couple of reasons.\nFirst is electric vehicles. EVs require more semiconductor technology, writes Spak. Managing power from batteries along with charging curves are all, essentially, computing problems. Autonomous-driving features increasingly common on cars also require lots of computing power.\nNext is what Spak calls “automotive inflexibility.” Automotive chips tend to be older, more-proven technology. The car business prioritizes reliability. But chip companies don’t like investing in older tech.\nAnother factor mentioned tangentially by Spak: the consumer-electronics industry isn’t going to shrink. It will demand more and more chips in the future.\nOne fix is for car companies to adopt new technology, but that will take time. He says that could benefit Aptiv(ticker: APTV)—a parts supplier that manages electrical architecture in vehicles. He rates the stock at Buy and has a $188 price target.\nSpak says global light-vehicle production could be limited to about 90 million cars a year for the foreseeable future—regardless of what vehicle demand turns out to be. That’s flat with average production from recent, pre-pandemic years. That means new vehicle inventories will be lower for longer. That isn’t all bad for the industry, though. That would mean better pricing for auto makers. Car companies would also build the nicest cars. The chip shortage has been good for vehicle mix.\nCar stocks are still doing well, despite the shortage. The mix and pricing benefits have far outweighed any negatives so far.Ford Motor(F) stock is up 53% year to date, better than the 18% and 16% comparable, respective returns of the S&P 500 index and Dow Jones Industrial Average.\nGeneral Motors(GM) stock is up 27% year to date. Still, GM stock is down almost 9% since the company gave disappointing earnings guidance for the second half of 2021 on its Aug. 4 earnings conference call. There are a few reasons for weaker-than-expected guidance, but the chip shortage is one of them.\nThe industry might benefit from low inventories, but investors still have to deal with volatility from the chip situation.\nThe biggest risk for the auto industry might be that car demand could dry up before the chip situation is resolved. Then the cars consumers want to buy today might never be sold.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5551893,"gmtCreate":1629171062259,"gmtModify":1663232486945,"authorId":3568948415316733,"author":{"id":3568948415316733,"authorId":3568948415316733,"name":"Narayanan","avatar":"https://static.tigerbbs.com/56c8ad986932bbfda0ed07033a264bd0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":839499051,"type":1,"supId":0,"prevId":0,"content":"Comment","text":"Comment","html":"Comment"},{"id":5551969,"gmtCreate":1629171508455,"gmtModify":1663232486735,"authorId":4088169240998280,"author":{"id":4088169240998280,"authorId":4088169240998280,"name":"WarenKong","avatar":"https://static.tigerbbs.com/5055a79d76db4aeb24a509efb6b3d1db","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":839499051,"type":1,"supId":0,"prevId":0,"content":"Like n comment","text":"Like n comment","html":"Like n comment"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":81,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}