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- ycwooycwoo
  ·2023-03-04
  Lkk
  NIO Ramps up Battery R&D Efforts, Taps Talents From Apple, Panasonic, Report Says
  NIO's battery R&D team has now exceeded 800 people, with annual R&D investment expected to exceed RM
  NIO Ramps up Battery R&D Efforts, Taps Talents From Apple, Panasonic, Report Says
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- ycwooycwoo
  ·2023-02-16
  Jjust for coinssfbvjdyig3idhihyfyfufygycytcyvychfyfgucycc
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- ycwooycwoo
  ·2023-02-10
  $Fastly, Inc.(FSLY)$
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- ycwooycwoo
  ·2023-02-10
  $Fastly, Inc.(FSLY)$
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- ycwooycwoo
  ·2023-02-09
  $Luminar Technologies, Inc.(LAZR)$
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- ycwooycwoo
  ·2023-01-26
  Ok
  Semiconductors: The Key To Unlocking Today's Global Economy
  PhonlamaiPhoto By Christopher Gannatti, CFA At WisdomTree, we spend a lot of time writing about reso
  Semiconductors: The Key To Unlocking Today's Global Economy
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- ycwooycwoo
  ·2023-01-24
  k
  Apple Weighs Content Deals With Disney, Other Partners For VR Headset
  Apple Inc discussed developing VR content for the platform with about half a dozen media partners, i
  Apple Weighs Content Deals With Disney, Other Partners For VR Headset
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- ycwooycwoo
  ·2023-01-24
  $Luminar Technologies, Inc.(LAZR)$
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- ycwooycwoo
  ·2022-12-22
  K
  ORIC Pharmaceuticals Surges 44% on Pfizer Collaboration, Investment
  ORIC Pharmaceuticals (NASDAQ:ORIC) soared 44% in premarket trading Thursday after announcing both a
  ORIC Pharmaceuticals Surges 44% on Pfizer Collaboration, Investment
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- ycwooycwoo
  ·2022-12-19
  K
  SoFi: Aggressive Insider Buys
  SummaryMajor insider buys were executed by the firm’s CEO in December.Insider buys are noteworthy as
  SoFi: Aggressive Insider Buys
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18:56","market":"hk","language":"en","title":"NIO Ramps up Battery R&D Efforts, Taps Talents From Apple, Panasonic, Report Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1117784762","media":"CnEVPost","summary":"NIO's battery R&D team has now exceeded 800 people, with annual R&D investment expected to exceed RM","content":"<html><head></head><body><ul><li>NIO&#39;s battery R&amp;D team has now exceeded 800 people, with annual R&amp;D investment expected to exceed RMB 1 billion, according to local media.</li></ul><p>NIO is seeking talents for its battery project, poaching former Apple and Panasonic executives, local media 36kr reported today.</p><p>Shawn Hao, who worked for Apple&#39;s automotive program, and Zack IZAKI, former Panasonic general manager of battery technology in North America, have joined NIO, reporting to vice president Zeng Shuxiang, according to the report.</p><p>Hao is a battery industry veteran, having worked at Daimler Chrysler Group before moving into the battery industry with A123, a battery company owned by Wanxiang Group, according to its LinkedIn profile.</p><p>Hao joined Apple in 2012 and was initially responsible for battery technology management and supplier quality management for products including phones.</p><p>He entered Apple&#39;s car project in August 2015 and was a core figure in Apple&#39;s car manufacturing engineering, leading a team to build a set of processes, SOPs, quality and other production systems, according to 36kr.</p><p>However, Apple&#39;s car-building project did not progress smoothly, and Hao ended his 8-year and 7-month career at Apple in October 2020.</p><p>Hao worked briefly with CATL chairman Robin Zeng during his early days at Apple, the report said, citing people familiar with the matter.</p><p>Izaki, from Panasonic, has extensive experience working in battery engineering and led the engineering of Panasonic batteries in North America, according to the report.</p><p>At the Nevada plant jointly built by Panasonic and Tesla, IZAKI was involved in building an engineering team to produce battery packs for the Model 3, the report said.</p><p>The Model 3 faced a long period of capacity hell in its early days, and IZAKI was one of the key players along with Elon Musk in pulling Tesla out of that situation, according to the report.</p><p>William Li, NIO&#39;s founder, chairman and CEO, confirmed in an earnings call on June 9, 2022, that the company would develop its own batteries.</p><p>He said at the time that NIO has a battery team of more than 400 people to research areas including battery materials, cells and battery management systems to fully establish battery system development and industrialization capabilities.</p><p>Beijing-based Cbea.com, which focuses on the battery industry, reported on February 27 that NIO held a battery partner forum in Hefei, Anhui province, on February 24, where the company announced the start of construction of the first phase of its battery base.</p><p>Li said at the time that NIO&#39;s battery R&amp;D team has exceeded 800 people, with annual R&amp;D investment expected to exceed RMB 1 billion, according to the report by 36kr today.</p><p>The planned investment amount is high, considering that China&#39;s third largest battery maker CALB invested less than RMB 300 million in R&amp;D in 2021, and the more aggressive Svolt Energy put RMB 724 million in R&amp;D in 2021, the report noted.</p><p>Bringing in senior talents, heavy investment and bold capacity plans show NIO&#39;s determination to develop its own batteries, the report said.</p><p>On February 24, Reuters reported that NIO plans to build its first battery factory to produce large cylindrical batteries similar to those used by Tesla.</p><p>The new plant will have an annual battery capacity of 40 GWh, which could power about 400,000 long-range electric vehicles, the report said.</p><p>Moreover, the 36kr report also mentioned that NIO has developed prototypes of large cylindrical cells at its small-scale pilot production line in Anting, Shanghai.</p><p>The experimental site, which covers cell and pack trial lines, has seen key equipment manufacturers working there for nearly six months, although it is not yet fully completed, the report said.</p><p>NIO&#39;s head of battery development, Zeng Shizhe, had assured Li that the company&#39;s in-house developed cells would be delivered within the planned time frame, the report said, citing industry sources who had access to the team.</p><p>In addition to NIO, there are other new car makers with well-established technical solutions for manufacturing their own batteries, but just haven&#39;t decided whether to put them into mass production, the report said.</p><p>In Li&#39;s view, in-house developed batteries are an important foundation for automakers to get enough gross margin.</p><p>He said in an internal speech last November that if NIO wants to achieve a 20 percent gross margin in the mass market, it must produce its own batteries and chips, otherwise, there is no possibility to achieve that goal.</p><p>Li listed his calculations:</p><blockquote>Batteries currently account for nearly 40 percent of vehicle costs. Assuming that the battery manufacturer&#39;s gross profit is 20 percent, if NIO produces its own batteries, then it can get 8 percent more gross profit.</blockquote><blockquote>And if NIO produces its own chips, it can get an additional 10 percent gross profit.</blockquote><blockquote>Normally, the gross profit of a car is 10 percent, and if you can get 10 percent more you can reach 20 percent. &#34;If it doesn&#39;t reach that level, it&#39;s over.&#34;</blockquote></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>NIO Ramps up Battery R&D Efforts, Taps Talents From Apple, Panasonic, Report Says</title>\n<style 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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\">\nNIO Ramps up Battery R&D Efforts, Taps Talents From Apple, Panasonic, Report Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-03 18:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://cnevpost.com/2023/03/03/nio-ramps-up-battery-rd-efforts-taps-talents-from-apple-panasonic-report/><strong>CnEVPost</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NIO's battery R&D team has now exceeded 800 people, with annual R&D investment expected to exceed RMB 1 billion, according to local media.NIO is seeking talents for its battery project, poaching ...</p>\n\n<a href=\"https://cnevpost.com/2023/03/03/nio-ramps-up-battery-rd-efforts-taps-talents-from-apple-panasonic-report/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO.SI":"蔚来","NIO":"蔚来","09866":"蔚来-SW"},"source_url":"https://cnevpost.com/2023/03/03/nio-ramps-up-battery-rd-efforts-taps-talents-from-apple-panasonic-report/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117784762","content_text":"NIO's battery R&D team has now exceeded 800 people, with annual R&D investment expected to exceed RMB 1 billion, according to local media.NIO is seeking talents for its battery project, poaching former Apple and Panasonic executives, local media 36kr reported today.Shawn Hao, who worked for Apple's automotive program, and Zack IZAKI, former Panasonic general manager of battery technology in North America, have joined NIO, reporting to vice president Zeng Shuxiang, according to the report.Hao is a battery industry veteran, having worked at Daimler Chrysler Group before moving into the battery industry with A123, a battery company owned by Wanxiang Group, according to its LinkedIn profile.Hao joined Apple in 2012 and was initially responsible for battery technology management and supplier quality management for products including phones.He entered Apple's car project in August 2015 and was a core figure in Apple's car manufacturing engineering, leading a team to build a set of processes, SOPs, quality and other production systems, according to 36kr.However, Apple's car-building project did not progress smoothly, and Hao ended his 8-year and 7-month career at Apple in October 2020.Hao worked briefly with CATL chairman Robin Zeng during his early days at Apple, the report said, citing people familiar with the matter.Izaki, from Panasonic, has extensive experience working in battery engineering and led the engineering of Panasonic batteries in North America, according to the report.At the Nevada plant jointly built by Panasonic and Tesla, IZAKI was involved in building an engineering team to produce battery packs for the Model 3, the report said.The Model 3 faced a long period of capacity hell in its early days, and IZAKI was one of the key players along with Elon Musk in pulling Tesla out of that situation, according to the report.William Li, NIO's founder, chairman and CEO, confirmed in an earnings call on June 9, 2022, that the company would develop its own batteries.He said at the time that NIO has a battery team of more than 400 people to research areas including battery materials, cells and battery management systems to fully establish battery system development and industrialization capabilities.Beijing-based Cbea.com, which focuses on the battery industry, reported on February 27 that NIO held a battery partner forum in Hefei, Anhui province, on February 24, where the company announced the start of construction of the first phase of its battery base.Li said at the time that NIO's battery R&D team has exceeded 800 people, with annual R&D investment expected to exceed RMB 1 billion, according to the report by 36kr today.The planned investment amount is high, considering that China's third largest battery maker CALB invested less than RMB 300 million in R&D in 2021, and the more aggressive Svolt Energy put RMB 724 million in R&D in 2021, the report noted.Bringing in senior talents, heavy investment and bold capacity plans show NIO's determination to develop its own batteries, the report said.On February 24, Reuters reported that NIO plans to build its first battery factory to produce large cylindrical batteries similar to those used by Tesla.The new plant will have an annual battery capacity of 40 GWh, which could power about 400,000 long-range electric vehicles, the report said.Moreover, the 36kr report also mentioned that NIO has developed prototypes of large cylindrical cells at its small-scale pilot production line in Anting, Shanghai.The experimental site, which covers cell and pack trial lines, has seen key equipment manufacturers working there for nearly six months, although it is not yet fully completed, the report said.NIO's head of battery development, Zeng Shizhe, had assured Li that the company's in-house developed cells would be delivered within the planned time frame, the report said, citing industry sources who had access to the team.In addition to NIO, there are other new car makers with well-established technical solutions for manufacturing their own batteries, but just haven't decided whether to put them into mass production, the report said.In Li's view, in-house developed batteries are an important foundation for automakers to get enough gross margin.He said in an internal speech last November that if NIO wants to achieve a 20 percent gross margin in the mass market, it must produce its own batteries and chips, otherwise, there is no possibility to achieve that goal.Li listed his calculations:Batteries currently account for nearly 40 percent of vehicle costs. Assuming that the battery manufacturer's gross profit is 20 percent, if NIO produces its own batteries, then it can get 8 percent more gross profit.And if NIO produces its own chips, it can get an additional 10 percent gross profit.Normally, the gross profit of a car is 10 percent, and if you can get 10 percent more you can reach 20 percent. \"If it doesn't reach that level, it's over.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":526,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9954467338,"gmtCreate":1676560163724,"gmtModify":1676560168617,"author":{"id":"3565146699964497","authorId":"3565146699964497","name":"ycwoo","avatar":"https://community-static.tradeup.com/news/2f48b4bbc66c0bf509f7199142c1a2f2","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3565146699964497","authorIdStr":"3565146699964497"},"themes":[],"htmlText":"Jjust for coinssfbvjdyig3idhihyfyfufygycytcyvychfyfgucycc","listText":"Jjust 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Inc.(FSLY)$","images":[{"img":"https://community-static.tradeup.com/news/2be3fe69195c5e097db6a81a6b619a5d","width":"1080","height":"2182"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9954972129","isVote":1,"tweetType":1,"viewCount":587,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9954972312,"gmtCreate":1675965002337,"gmtModify":1675965005516,"author":{"id":"3565146699964497","authorId":"3565146699964497","name":"ycwoo","avatar":"https://community-static.tradeup.com/news/2f48b4bbc66c0bf509f7199142c1a2f2","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3565146699964497","authorIdStr":"3565146699964497"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/FSLY\">$Fastly, Inc.(FSLY)$ &nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/FSLY\">$Fastly, Inc.(FSLY)$ &nbsp;</a>","text":"$Fastly, 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14:15","market":"us","language":"en","title":"Semiconductors: The Key To Unlocking Today's Global Economy","url":"https://stock-news.laohu8.com/highlight/detail?id=2306452417","media":"seekingalpha","summary":"PhonlamaiPhoto By Christopher Gannatti, CFA At WisdomTree, we spend a lot of time writing about reso","content":"<html><body><p><figure><picture> <img height=\"1024px\" loading=\"lazy\" sizes=\"(max-width: 768px) calc(100vw - 36px), (max-width: 1024px) calc(100vw - 132px), (max-width: 1200px) calc(66.6vw - 72px), 600px\" src=\"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1370212104/image_1370212104.jpg?io=getty-c-w750\" srcset=\"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1370212104/image_1370212104.jpg?io=getty-c-w1536 1536w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1370212104/image_1370212104.jpg?io=getty-c-w1280 1280w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1370212104/image_1370212104.jpg?io=getty-c-w1080 1080w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1370212104/image_1370212104.jpg?io=getty-c-w750 750w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1370212104/image_1370212104.jpg?io=getty-c-w640 640w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1370212104/image_1370212104.jpg?io=getty-c-w480 480w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1370212104/image_1370212104.jpg?io=getty-c-w320 320w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1370212104/image_1370212104.jpg?io=getty-c-w240 240w\" width=\"1536px\"/> </picture><figcaption> <p>PhonlamaiPhoto</p></figcaption></figure></p> <p><em>By Christopher Gannatti, CFA</em></p> <p>At WisdomTree, we spend a lot of time writing about resources. There are certain commodity resources that will help the world transition to greener sources of energy.</p> <p>There are certain food resources, necessary to feed<span> a growing global population. There are certain monetary resources that allow different economies to secure different standards of living for their populations.</span></p> <p>But one thing that events of 2022 made clear was that access to one type of thing - semiconductors - might be the key that unlocks further participation in the world’s economy.</p> <h2><strong>Follow the Money</strong></h2> <p>“Follow the money” is an expression frequently used as a tool to help an observer better understand what is important in a given economic system. A quick look back at 2022 shows us<sup>1</sup>:</p> <p><strong>•</strong> In September 2022, Intel (INTC) pledged<span> to invest at least $20 billion in two new factories in Ohio to make semiconductors.</span></p> <p><strong>•</strong> In October 2022, Micron (MU) indicated it expected to spend $20 billion by the end of the decade - and eventually perhaps $100 billion over time - on a new manufacturing site in upstate New York.</p> <p><strong>•</strong> In December 2022, Taiwan Semiconductor Manufacturing Co. (TSMC) (TSM), indicated a plan to increase investment in Arizona to around $40 billion and build a second factory to create advanced chips.</p> <p><strong>•</strong> U.S. companies, generally, have pledged nearly $200 billion for chip manufacturing projects since early 2020.</p> <p><strong>•</strong> China is working on a more than 1 trillion yuan (roughly $143 billion) support package for its semiconductor industry, seeking to counter the impact of U.S. restrictions.<sup>2 </sup></p> <p>On September 30, 2022, we had Chris Miller, author of the recent bestselling book <em>Chip War</em>, on the <em>Behind the Markets</em> podcast. Chris’ book gives an excellent historical foundation to help in understanding where we are today - that access to cutting-edge semiconductors is deemed to be the primary determinant in participating in the next phases of global economic growth during the 2020s. In his book, you see how this dynamic impacted<sup>3</sup>:</p> <p>1. The Cold War - namely how the U.S. was able to allocate resources in ways that promoted the miniaturization of semiconductor technology, while the Soviet Union was unable to keep up.</p> <p>2. The current dynamics we are seeing with China versus the United States - there are certain links in the semiconductor value chain that are currently in U.S. control, which means the U.S. can denote certain types of technologies that it doesn’t want to end up in China. While it doesn’t mean that China will never gain these technologies on its own, the degree of expertise required to attain them is expected to take both massive financial resources and years of time.</p> <p>3. Japan’s rise in the 1980s and subsequent stagnation, more or less, since then - Japan’s companies went all-in on memory chips, which was deemed prescient in the 1970s and 1980s. Intel CEO Andy Grove’s move toward logic chips - what we think of as central processing units (CPUs) today - was viewed as an existential bet. When the market shifted to valuing CPUs more highly and memory chips became commoditized, Japan was flat-footed.</p> <p>4. Weapons - in recent military conflicts, one can see a notable difference, for instance between the NATO-supplied weapons Ukraine is using and Russia’s standard arsenal. There is a reason why Ukraine has had the success that it has, despite its apparent disadvantages in terms of military might.</p> <h2><strong>Illustrating the Cyclicality of Semiconductors</strong></h2> <p>Even if people read the above and agree about the world’s focus on semiconductors, the recent equity market performance of many of the stocks has been quite poor. While we wouldn’t say we could pick the bottom, be it in the performance of semiconductor companies or really any others, it is always important to consider the larger context. Figure 1 looks at the PHLX Semiconductor Sector Index (SOX Index) to give an illustration of the valuation of semiconductor stocks.</p> <p>• The run up in valuation of semiconductor stocks between roughly January 2019 and roughly January 2021 was significant. We see the trailing price-to-earnings (P/E) ratio go from a bit below 15.0 times to a bit about 35.0 times. This is possibly one reason why we’ve seen such a correction. The market seems to fluctuate around an average somewhere between 20.0 and 25.0 times - in each case when it has gotten above those levels, it has ultimately come back.</p> <p>• The last time the P/E ratio of semiconductor companies was below that of the S&amp;P 500 Index for a bit of time, it was followed by a run up in valuation. We cannot say for sure that this will always be the case, but we can note that the business activity of the companies does tend toward a boom-and-bust pattern. Demand outpaces supply, there is capital spending, capacity increases, and then eventually supply outpaces demand. Then, prices drop, capital expenditures go down and inventories eventually drop. And the cycle repeats and repeats.</p> <p>• The difference, now, if there is one, is that interest rates are much higher and we are faced with what may be a general global recession. It doesn’t mean we need semiconductors any less in the medium to long term, but it may impact the speed with which we work through this cycle. Short term, we may see a lot of volatility, even if we believe in the long term, we could be looking at a strong opportunity.</p> <p><strong>Figure 1: Semiconductors Have a History of Trending Ups and Downs with Respect to Valuation (4/1/13–1/6/23)</strong></p> <p><figure contenteditable=\"false\"><picture> <img contenteditable=\"true\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2023/1/26/saupload_figure-1_semiconductors-have-a-history-of-trending-ups-and-downs-with-respect-to-valuation.png\"/> </picture><figcaption></figcaption></figure></p> <h2><strong>Thematic Universe or Semiconductor Universe?</strong></h2> <p>In 2021, WisdomTree put together its Thematic Universe - a classification system through which we are able to look at sensible groupings of thematic investment strategies. This is really our attempt to bring orderly updates to the gigantic menu of options that growth-oriented equity investors face today.</p> <p>Among our more than 40 different thematic sub-clusters, shown in figure 1, we pose one simple question: Can you find even one of these topical areas that could bring scale and excel <em>without</em> making use of semiconductors?</p> <p>The diversity of semiconductors is truly astonishing. Certain parts of our daily lives are being facilitated by older, less capable semiconductors, while other parts are being powered by chips much closer to the cutting edge.</p> <p>If anyone is thinking about smartphones, the more capable models of the iPhone 14 are running 4 nanometre chips, which is close to the most advanced level the world can currently make.<sup>4</sup></p> <p><strong>Figure 2: WisdomTree’s Thematic Universe</strong></p> <p><figure contenteditable=\"false\"><picture> <img contenteditable=\"true\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2023/1/26/saupload_figure-2_diversified-thematics.png\"/> </picture><figcaption></figcaption></figure></p> <p>We would make sure to note, even if each of the clusters requires semiconductors, that not all of the clusters would require access to the world’s <em>most advanced</em> semiconductors.</p> <p>You might have seen the articles about the U.S. restricting Nvidia (NVDA) from selling its A100 chips to China. But when people are unable to source new vehicles because of a lack of semiconductors, it wouldn’t be correct to assume that most chips in cars are on the same level of the A100. There are chips that could cost more than $1,000, and there are chips that can cost closer to $1 - and everything in between.</p> <h2><strong>2023 - An Entry Point for Semiconductors (or Related Thematic Strategies)?</strong></h2> <p>In 2022, we spent a lot of time talking about cybersecurity. Even if the share prices of the companies, generally, did not perform well, the story of cybersecurity being a necessity was and remains very clear.</p> <p>We argue that, if we continue to live in a world where electronics are touching our lives many times daily, the story of semiconductors being a necessity is even clearer. However, even if we can make a case that we always need semiconductors, the share price performance of the companies is still not always positive.</p> <p>As we noted earlier, semiconductors have historically been characterized by a high degree of cyclicality - meaning lots of booms and busts as opposed to a path of steadily increasing returns.</p> <p>Both 2019 and 2020 were quite positive years, leading to companies increasing capital expenditures, which leads to increasing the supplies of semiconductors, which eventually leads to supply outpacing demand and prices of different chips falling.</p> <p>All semiconductors are not created equal - there is one source of demand for the Nvidia A100 chips used in datacentres to train the most advanced artificial intelligence (AI) models, whereas there is a different source of demand for the inexpensive chips used in high volumes in the automotive industry.</p> <p>There were different arguments advanced about how in or out of sync the different types of semiconductor demand might or might not be,<sup>5</sup> but the general trend of share price performance was more negative than positive in 2022.</p> <p>Then, suddenly, in November 2022, we (and many others) saw Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) place an investment of more than $4 billion in TSMC.<sup>6</sup> Any investment in TSMC can have myriad underlying drivers, but, broadly speaking, most modern conveniences that we enjoy in the Western world would face significant headwinds without the benefit of TSMC’s products.</p> <p>At WisdomTree, we can’t say we can call the bottom on semiconductors, but we can say that few things capture as much of the world’s focus… and money. We tend to like semiconductors tied to specific, advanced functions, like semiconductors specifically designed for autonomous driving applications or to aid in training advanced AI models.</p> <p>While people can decide on individual companies, we think that AI cannot exist without semiconductors, so it’s possible for those interested to gain diversified exposure to semiconductors participating in this specific area.</p> <p>The <a href=\"https://laohu8.com/S/WTAI\">WisdomTree Artificial Intelligence and Innovation Fund</a> (WTAI) includes within its strategy a focus on specific semiconductor companies aiming to use their hardware to advance AI and deep learning.</p> <p><img loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2022/11/8/saupload_gannatti.jpg\"/></p> <p>Christopher Gannatti, CFA, Global Head of Research</p> <p>Christopher Gannatti began at WisdomTree as a Research Analyst in December 2010, working directly with Jeremy Schwartz, CFA®, Director of Research. In January of 2014, he was promoted to Associate Director of Research where he was responsible to lead different groups of analysts and strategists within the broader Research team at WisdomTree. In February of 2018, Christopher was promoted to Head of Research, Europe, where he will be based out of WisdomTree’s London office and will be responsible for the full WisdomTree research effort within the European market, as well as supporting the UCITs platform globally. Christopher came to WisdomTree from Lord Abbett, where he worked for four and a half years as a Regional Consultant. He received his MBA in Quantitative Finance, Accounting, and Economics from NYU’s Stern School of Business in 2010, and he received his bachelor’s degree from Colgate University in Economics in 2006. Christopher is a holder of the Chartered Financial Analyst designation.</p> <p><sup>1</sup> Source: Unless otherwise stated within these bullets, Don Clark &amp; Ana Swanson, “U.S. Pours Money into Chips, but Even Soaring Spending Has Limit,” <em>The New York Times</em>, 1/1/23.<sup>2</sup> Source: Julie Zhu, “Exclusive: China Readying $143 billion package for its Chip Firms in Face of U.S. Curbs,” <em>Reuters</em>, 12/14/2222.<sup>3</sup> Source: Christopher Miller, <em>Chip War: The Fight for the World’s Most Critical Technology</em>. Simon &amp; Schuster, Inc. 2022.<sup>4</sup> Source: Cheng Ting-Fang, “TSMC Reaffirms ‘Commitment to Taiwan’ Despite U.S. Chip Push,” <em>Financial Times</em>, 1/3/23.<sup>5 </sup>Source: Sundstrom et al, “Semiconductors: A Less Cyclical Future,” PIMCO Blog, 6/10/22.<sup>6</sup> Source: Eric Platt, “Warren Buffett’s Berkshire Hathaway Buys $4bn Stake in Chipmaker TSMC,” Financial Times, 11/15/22.</p> <h2>Important Risks and Disclosure Related to this Article</h2> <p>There are risks associated with investing, including the possible loss of principal. The Fund invests in companies primarily involved in the investment theme of artificial intelligence (AI) and innovation. Companies engaged in AI typically face intense competition and potentially rapid product obsolescence. These companies are also heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. Additionally, AI companies typically invest significant amounts of spending on research and development, and there is no guarantee that the products or services produced by these companies will be successful. Companies that are capitalizing on Innovation and developing technologies to displace older technologies or create new markets may not be successful. The Fund invests in the securities included in, or representative of, its Index regardless of their investment merit and the Fund does not attempt to outperform its Index or take defensive positions in declining markets. The composition of the Index is governed by an Index Committee and the Index may not perform as intended. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.</p> <p><em>Original Post</em></p> <div></div> <p><strong>Editor's Note:</strong> The summary bullets for this article were chosen by Seeking Alpha editors. </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>Semiconductors: The Key To Unlocking Today's Global Economy</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\">\nSemiconductors: The Key To Unlocking Today's Global Economy\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-01-26 14:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4572474-semiconductors-the-key-to-unlocking-todays-global-economy><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>PhonlamaiPhoto By Christopher Gannatti, CFA At WisdomTree, we spend a lot of time writing about resources. There are certain commodity resources that will help the world transition to greener sources ...</p>\n\n<a href=\"https://seekingalpha.com/article/4572474-semiconductors-the-key-to-unlocking-todays-global-economy\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1370212104/image_1370212104.jpg","relate_stocks":{"LU1712237335.SGD":"Natixis Mirova Global Sustainable Equity H-R-NPF/A SGD","BK4535":"淡马锡持仓","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","BK4543":"AI","MU":"美光科技","SG9999000418.SGD":"Aberdeen Standard Global Technology SGD","LU0109392836.USD":"富兰克林科技股A","BK4579":"人工智能","BK4526":"热门中概股","03145":"华夏亚洲高息股","LU2063271972.USD":"富兰克林创新领域基金","BK4141":"半导体产品","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","BK4503":"景林资产持仓","LU0251142724.SGD":"Fidelity America A-SGD","NVDA":"英伟达","TSM":"台积电","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","BK4581":"高盛持仓","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU0971096721.USD":"富达环球金融服务 A","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","BK4548":"巴美列捷福持仓","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU2125909593.SGD":"Natixis Thematics Meta R/A SGD","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","BK4176":"多领域控股","AI":"C3.ai, Inc.","BK4528":"SaaS概念","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU0572940350.SGD":"Janus Henderson Horizon Asian Dividend Income A3 SGD","BRK.B":"伯克希尔B","LU2125909247.SGD":"Natixis Thematics Meta H-R/A SGD","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","BK4553":"喜马拉雅资本持仓","LU1923622614.USD":"Natixis Thematics Meta R/A USD","INTC":"英特尔","BK4567":"ESG概念","BK4585":"ETF&股票定投概念","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H"},"source_url":"https://seekingalpha.com/article/4572474-semiconductors-the-key-to-unlocking-todays-global-economy","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2306452417","content_text":"PhonlamaiPhoto By Christopher Gannatti, CFA At WisdomTree, we spend a lot of time writing about resources. There are certain commodity resources that will help the world transition to greener sources of energy. There are certain food resources, necessary to feed a growing global population. There are certain monetary resources that allow different economies to secure different standards of living for their populations. But one thing that events of 2022 made clear was that access to one type of thing - semiconductors - might be the key that unlocks further participation in the world’s economy. Follow the Money “Follow the money” is an expression frequently used as a tool to help an observer better understand what is important in a given economic system. A quick look back at 2022 shows us1: • In September 2022, Intel (INTC) pledged to invest at least $20 billion in two new factories in Ohio to make semiconductors. • In October 2022, Micron (MU) indicated it expected to spend $20 billion by the end of the decade - and eventually perhaps $100 billion over time - on a new manufacturing site in upstate New York. • In December 2022, Taiwan Semiconductor Manufacturing Co. (TSMC) (TSM), indicated a plan to increase investment in Arizona to around $40 billion and build a second factory to create advanced chips. • U.S. companies, generally, have pledged nearly $200 billion for chip manufacturing projects since early 2020. • China is working on a more than 1 trillion yuan (roughly $143 billion) support package for its semiconductor industry, seeking to counter the impact of U.S. restrictions.2  On September 30, 2022, we had Chris Miller, author of the recent bestselling book Chip War, on the Behind the Markets podcast. Chris’ book gives an excellent historical foundation to help in understanding where we are today - that access to cutting-edge semiconductors is deemed to be the primary determinant in participating in the next phases of global economic growth during the 2020s. In his book, you see how this dynamic impacted3: 1. The Cold War - namely how the U.S. was able to allocate resources in ways that promoted the miniaturization of semiconductor technology, while the Soviet Union was unable to keep up. 2. The current dynamics we are seeing with China versus the United States - there are certain links in the semiconductor value chain that are currently in U.S. control, which means the U.S. can denote certain types of technologies that it doesn’t want to end up in China. While it doesn’t mean that China will never gain these technologies on its own, the degree of expertise required to attain them is expected to take both massive financial resources and years of time. 3. Japan’s rise in the 1980s and subsequent stagnation, more or less, since then - Japan’s companies went all-in on memory chips, which was deemed prescient in the 1970s and 1980s. Intel CEO Andy Grove’s move toward logic chips - what we think of as central processing units (CPUs) today - was viewed as an existential bet. When the market shifted to valuing CPUs more highly and memory chips became commoditized, Japan was flat-footed. 4. Weapons - in recent military conflicts, one can see a notable difference, for instance between the NATO-supplied weapons Ukraine is using and Russia’s standard arsenal. There is a reason why Ukraine has had the success that it has, despite its apparent disadvantages in terms of military might. Illustrating the Cyclicality of Semiconductors Even if people read the above and agree about the world’s focus on semiconductors, the recent equity market performance of many of the stocks has been quite poor. While we wouldn’t say we could pick the bottom, be it in the performance of semiconductor companies or really any others, it is always important to consider the larger context. Figure 1 looks at the PHLX Semiconductor Sector Index (SOX Index) to give an illustration of the valuation of semiconductor stocks. • The run up in valuation of semiconductor stocks between roughly January 2019 and roughly January 2021 was significant. We see the trailing price-to-earnings (P/E) ratio go from a bit below 15.0 times to a bit about 35.0 times. This is possibly one reason why we’ve seen such a correction. The market seems to fluctuate around an average somewhere between 20.0 and 25.0 times - in each case when it has gotten above those levels, it has ultimately come back. • The last time the P/E ratio of semiconductor companies was below that of the S&P 500 Index for a bit of time, it was followed by a run up in valuation. We cannot say for sure that this will always be the case, but we can note that the business activity of the companies does tend toward a boom-and-bust pattern. Demand outpaces supply, there is capital spending, capacity increases, and then eventually supply outpaces demand. Then, prices drop, capital expenditures go down and inventories eventually drop. And the cycle repeats and repeats. • The difference, now, if there is one, is that interest rates are much higher and we are faced with what may be a general global recession. It doesn’t mean we need semiconductors any less in the medium to long term, but it may impact the speed with which we work through this cycle. Short term, we may see a lot of volatility, even if we believe in the long term, we could be looking at a strong opportunity. Figure 1: Semiconductors Have a History of Trending Ups and Downs with Respect to Valuation (4/1/13–1/6/23)    Thematic Universe or Semiconductor Universe? In 2021, WisdomTree put together its Thematic Universe - a classification system through which we are able to look at sensible groupings of thematic investment strategies. This is really our attempt to bring orderly updates to the gigantic menu of options that growth-oriented equity investors face today. Among our more than 40 different thematic sub-clusters, shown in figure 1, we pose one simple question: Can you find even one of these topical areas that could bring scale and excel without making use of semiconductors? The diversity of semiconductors is truly astonishing. Certain parts of our daily lives are being facilitated by older, less capable semiconductors, while other parts are being powered by chips much closer to the cutting edge. If anyone is thinking about smartphones, the more capable models of the iPhone 14 are running 4 nanometre chips, which is close to the most advanced level the world can currently make.4 Figure 2: WisdomTree’s Thematic Universe    We would make sure to note, even if each of the clusters requires semiconductors, that not all of the clusters would require access to the world’s most advanced semiconductors. You might have seen the articles about the U.S. restricting Nvidia (NVDA) from selling its A100 chips to China. But when people are unable to source new vehicles because of a lack of semiconductors, it wouldn’t be correct to assume that most chips in cars are on the same level of the A100. There are chips that could cost more than $1,000, and there are chips that can cost closer to $1 - and everything in between. 2023 - An Entry Point for Semiconductors (or Related Thematic Strategies)? In 2022, we spent a lot of time talking about cybersecurity. Even if the share prices of the companies, generally, did not perform well, the story of cybersecurity being a necessity was and remains very clear. We argue that, if we continue to live in a world where electronics are touching our lives many times daily, the story of semiconductors being a necessity is even clearer. However, even if we can make a case that we always need semiconductors, the share price performance of the companies is still not always positive. As we noted earlier, semiconductors have historically been characterized by a high degree of cyclicality - meaning lots of booms and busts as opposed to a path of steadily increasing returns. Both 2019 and 2020 were quite positive years, leading to companies increasing capital expenditures, which leads to increasing the supplies of semiconductors, which eventually leads to supply outpacing demand and prices of different chips falling. All semiconductors are not created equal - there is one source of demand for the Nvidia A100 chips used in datacentres to train the most advanced artificial intelligence (AI) models, whereas there is a different source of demand for the inexpensive chips used in high volumes in the automotive industry. There were different arguments advanced about how in or out of sync the different types of semiconductor demand might or might not be,5 but the general trend of share price performance was more negative than positive in 2022. Then, suddenly, in November 2022, we (and many others) saw Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) place an investment of more than $4 billion in TSMC.6 Any investment in TSMC can have myriad underlying drivers, but, broadly speaking, most modern conveniences that we enjoy in the Western world would face significant headwinds without the benefit of TSMC’s products. At WisdomTree, we can’t say we can call the bottom on semiconductors, but we can say that few things capture as much of the world’s focus… and money. We tend to like semiconductors tied to specific, advanced functions, like semiconductors specifically designed for autonomous driving applications or to aid in training advanced AI models. While people can decide on individual companies, we think that AI cannot exist without semiconductors, so it’s possible for those interested to gain diversified exposure to semiconductors participating in this specific area. The WisdomTree Artificial Intelligence and Innovation Fund (WTAI) includes within its strategy a focus on specific semiconductor companies aiming to use their hardware to advance AI and deep learning.  Christopher Gannatti, CFA, Global Head of Research Christopher Gannatti began at WisdomTree as a Research Analyst in December 2010, working directly with Jeremy Schwartz, CFA®, Director of Research. In January of 2014, he was promoted to Associate Director of Research where he was responsible to lead different groups of analysts and strategists within the broader Research team at WisdomTree. In February of 2018, Christopher was promoted to Head of Research, Europe, where he will be based out of WisdomTree’s London office and will be responsible for the full WisdomTree research effort within the European market, as well as supporting the UCITs platform globally. Christopher came to WisdomTree from Lord Abbett, where he worked for four and a half years as a Regional Consultant. He received his MBA in Quantitative Finance, Accounting, and Economics from NYU’s Stern School of Business in 2010, and he received his bachelor’s degree from Colgate University in Economics in 2006. Christopher is a holder of the Chartered Financial Analyst designation. 1 Source: Unless otherwise stated within these bullets, Don Clark & Ana Swanson, “U.S. Pours Money into Chips, but Even Soaring Spending Has Limit,” The New York Times, 1/1/23.2 Source: Julie Zhu, “Exclusive: China Readying $143 billion package for its Chip Firms in Face of U.S. Curbs,” Reuters, 12/14/2222.3 Source: Christopher Miller, Chip War: The Fight for the World’s Most Critical Technology. Simon & Schuster, Inc. 2022.4 Source: Cheng Ting-Fang, “TSMC Reaffirms ‘Commitment to Taiwan’ Despite U.S. Chip Push,” Financial Times, 1/3/23.5 Source: Sundstrom et al, “Semiconductors: A Less Cyclical Future,” PIMCO Blog, 6/10/22.6 Source: Eric Platt, “Warren Buffett’s Berkshire Hathaway Buys $4bn Stake in Chipmaker TSMC,” Financial Times, 11/15/22. Important Risks and Disclosure Related to this Article There are risks associated with investing, including the possible loss of principal. The Fund invests in companies primarily involved in the investment theme of artificial intelligence (AI) and innovation. Companies engaged in AI typically face intense competition and potentially rapid product obsolescence. These companies are also heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. Additionally, AI companies typically invest significant amounts of spending on research and development, and there is no guarantee that the products or services produced by these companies will be successful. Companies that are capitalizing on Innovation and developing technologies to displace older technologies or create new markets may not be successful. The Fund invests in the securities included in, or representative of, its Index regardless of their investment merit and the Fund does not attempt to outperform its Index or take defensive positions in declining markets. The composition of the Index is governed by an Index Committee and the Index may not perform as intended. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile. Original Post  Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.","news_type":1},"isVote":1,"tweetType":1,"viewCount":542,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9952173177,"gmtCreate":1674570315700,"gmtModify":1676538946952,"author":{"id":"3565146699964497","authorId":"3565146699964497","name":"ycwoo","avatar":"https://community-static.tradeup.com/news/2f48b4bbc66c0bf509f7199142c1a2f2","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3565146699964497","authorIdStr":"3565146699964497"},"themes":[],"htmlText":"k","listText":"k","text":"k","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9952173177","repostId":"1111468708","repostType":4,"repost":{"id":"1111468708","kind":"news","pubTimestamp":1674567236,"share":"https://ttm.financial/m/news/1111468708?lang=&edition=fundamental","pubTime":"2023-01-24 21:33","market":"us","language":"en","title":"Apple Weighs Content Deals With Disney, Other Partners For VR Headset","url":"https://stock-news.laohu8.com/highlight/detail?id=1111468708","media":"Benzinga","summary":"Apple Inc discussed developing VR content for the platform with about half a dozen media partners, i","content":"<html><head></head><body><ul><li><b>Apple Inc</b> discussed developing VR content for the platform with about half a dozen media partners, including <b>Walt Disney Co</b> and <b>Dolby Laboratories Inc</b>.</li><li>Apple worked on updating its own Apple TV+ material to work with the headset, Bloomberg reports.</li><li>Apple&#39;s long-anticipated mixed-reality headset marked an ambitious attempt to create a 3D version of the iPhone&#39;s operating system with eye- and hand-tracking methods.</li><li>The roughly $3,000 device, under the likely name of Reality Pro, will take a novel approach to virtual meetings and immersive video to rival <b>Meta Platforms Inc&#39;s</b> Quest Pro virtual and MR headset at $1,500.</li><li>Apple also worked on a cheaper version for release in late 2024 or early 2025 that could be closer to $1,500, according to Bloomberg.</li><li>Apple targeted an uncertain market with a premium-priced product dedicating over seven years to the project and counting on it to become a new revenue source.</li><li>The device&#39;s eye- and hand-tracking capabilities will be a significant selling point. Its core features will include advanced FaceTime-based videoconferencing and meeting rooms.</li><li>The headset will also show immersive video content, serve as an external display for a connected Mac, and replicate many functions of iPhones and iPads.</li><li>Developed with <b>Sony Group Corp</b>, the headset will have two ultra-high-resolution displays to handle the VR aspects and a collection of external cameras to enable an augmented reality &#34;pass-through mode.&#34;</li><li>Apple plans to unveil the device by this spring.</li><li>Apple looks to sell about 1 million units of its new headset in its first year, not planning to make a profit on the initial version.</li><li>Apple created an area within its retail outlets dedicated to demonstrating the product.</li><li><b>Price Action:</b> AAPL shares closed higher by 2.35% at $141.11 on Monday.</li></ul></body></html>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Weighs Content Deals With Disney, Other Partners For VR Headset</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Weighs Content Deals With Disney, Other Partners For VR Headset\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-01-24 21:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/23/01/30539356/apple-weighs-content-deals-with-disney-other-partners-for-vr-headset><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple Inc discussed developing VR content for the platform with about half a dozen media partners, including Walt Disney Co and Dolby Laboratories Inc.Apple worked on updating its own Apple TV+ ...</p>\n\n<a href=\"https://www.benzinga.com/news/23/01/30539356/apple-weighs-content-deals-with-disney-other-partners-for-vr-headset\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","DIS":"迪士尼"},"source_url":"https://www.benzinga.com/news/23/01/30539356/apple-weighs-content-deals-with-disney-other-partners-for-vr-headset","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111468708","content_text":"Apple Inc discussed developing VR content for the platform with about half a dozen media partners, including Walt Disney Co and Dolby Laboratories Inc.Apple worked on updating its own Apple TV+ material to work with the headset, Bloomberg reports.Apple's long-anticipated mixed-reality headset marked an ambitious attempt to create a 3D version of the iPhone's operating system with eye- and hand-tracking methods.The roughly $3,000 device, under the likely name of Reality Pro, will take a novel approach to virtual meetings and immersive video to rival Meta Platforms Inc's Quest Pro virtual and MR headset at $1,500.Apple also worked on a cheaper version for release in late 2024 or early 2025 that could be closer to $1,500, according to Bloomberg.Apple targeted an uncertain market with a premium-priced product dedicating over seven years to the project and counting on it to become a new revenue source.The device's eye- and hand-tracking capabilities will be a significant selling point. Its core features will include advanced FaceTime-based videoconferencing and meeting rooms.The headset will also show immersive video content, serve as an external display for a connected Mac, and replicate many functions of iPhones and iPads.Developed with Sony Group Corp, the headset will have two ultra-high-resolution displays to handle the VR aspects and a collection of external cameras to enable an augmented reality \"pass-through mode.\"Apple plans to unveil the device by this spring.Apple looks to sell about 1 million units of its new headset in its first year, not planning to make a profit on the initial version.Apple created an area within its retail outlets dedicated to demonstrating the product.Price Action: AAPL shares closed higher by 2.35% at $141.11 on Monday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":547,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9952179747,"gmtCreate":1674570162090,"gmtModify":1676538946937,"author":{"id":"3565146699964497","authorId":"3565146699964497","name":"ycwoo","avatar":"https://community-static.tradeup.com/news/2f48b4bbc66c0bf509f7199142c1a2f2","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3565146699964497","authorIdStr":"3565146699964497"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/LAZR\">$Luminar Technologies, Inc.(LAZR)$ &nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/LAZR\">$Luminar Technologies, Inc.(LAZR)$ &nbsp;</a>","text":"$Luminar Technologies, Inc.(LAZR)$","images":[{"img":"https://community-static.tradeup.com/news/9247d7ce8b543d0df1dec5b7c2a69a61","width":"1080","height":"2182"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9952179747","isVote":1,"tweetType":1,"viewCount":507,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9922162576,"gmtCreate":1671720049396,"gmtModify":1676538581836,"author":{"id":"3565146699964497","authorId":"3565146699964497","name":"ycwoo","avatar":"https://community-static.tradeup.com/news/2f48b4bbc66c0bf509f7199142c1a2f2","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3565146699964497","authorIdStr":"3565146699964497"},"themes":[],"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9922162576","repostId":"1100927875","repostType":4,"repost":{"id":"1100927875","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1671700998,"share":"https://ttm.financial/m/news/1100927875?lang=&edition=fundamental","pubTime":"2022-12-22 17:23","market":"us","language":"en","title":"ORIC Pharmaceuticals Surges 44% on Pfizer Collaboration, Investment","url":"https://stock-news.laohu8.com/highlight/detail?id=1100927875","media":"Tiger Newspress","summary":"ORIC Pharmaceuticals (NASDAQ:ORIC) soared 44% in premarket trading Thursday after announcing both a ","content":"<html><head></head><body><p>ORIC Pharmaceuticals (NASDAQ:ORIC) soared 44% in premarket trading Thursday after announcing both a collaboration on a multiple myeloma candidate with Pfizer (NYSE:PFE) as well as an equity investment from the drug giant.</p><p><img src=\"https://static.tigerbbs.com/d1a5dcb20234c155353b0de87ceda427\" tg-width=\"866\" tg-height=\"619\" width=\"100%\" height=\"auto\"/></p><p>ORIC-533, a CD73 inhibitor, is currently in phase 1. The companies said the candidate could be moved into phase 2 in a combination study with Pfizer&#39;s (PFE) elranatamab, a B-cell maturation antigen (BCMA) CD3-targeted bispecific antibody under investigation for multiple myeloma.</p><p>ORIC (ORIC) said the $25M investment from Pfizer (PFE) means its cash runway is extended into H1 2025.</p><p>Seeking Alpha&#39;s Quant Rating views ORIC (ORIC) as a hold.</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>ORIC Pharmaceuticals Surges 44% on Pfizer Collaboration, Investment</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\">\nORIC Pharmaceuticals Surges 44% on Pfizer Collaboration, Investment\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-12-22 17:23</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>ORIC Pharmaceuticals (NASDAQ:ORIC) soared 44% in premarket trading Thursday after announcing both a collaboration on a multiple myeloma candidate with Pfizer (NYSE:PFE) as well as an equity investment from the drug giant.</p><p><img src=\"https://static.tigerbbs.com/d1a5dcb20234c155353b0de87ceda427\" tg-width=\"866\" tg-height=\"619\" width=\"100%\" height=\"auto\"/></p><p>ORIC-533, a CD73 inhibitor, is currently in phase 1. The companies said the candidate could be moved into phase 2 in a combination study with Pfizer&#39;s (PFE) elranatamab, a B-cell maturation antigen (BCMA) CD3-targeted bispecific antibody under investigation for multiple myeloma.</p><p>ORIC (ORIC) said the $25M investment from Pfizer (PFE) means its cash runway is extended into H1 2025.</p><p>Seeking Alpha&#39;s Quant Rating views ORIC (ORIC) as a hold.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ORIC":"Oric Pharmaceuticals Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100927875","content_text":"ORIC Pharmaceuticals (NASDAQ:ORIC) soared 44% in premarket trading Thursday after announcing both a collaboration on a multiple myeloma candidate with Pfizer (NYSE:PFE) as well as an equity investment from the drug giant.ORIC-533, a CD73 inhibitor, is currently in phase 1. The companies said the candidate could be moved into phase 2 in a combination study with Pfizer's (PFE) elranatamab, a B-cell maturation antigen (BCMA) CD3-targeted bispecific antibody under investigation for multiple myeloma.ORIC (ORIC) said the $25M investment from Pfizer (PFE) means its cash runway is extended into H1 2025.Seeking Alpha's Quant Rating views ORIC (ORIC) as a hold.","news_type":1},"isVote":1,"tweetType":1,"viewCount":464,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9926307026,"gmtCreate":1671461198266,"gmtModify":1676538540093,"author":{"id":"3565146699964497","authorId":"3565146699964497","name":"ycwoo","avatar":"https://community-static.tradeup.com/news/2f48b4bbc66c0bf509f7199142c1a2f2","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3565146699964497","authorIdStr":"3565146699964497"},"themes":[],"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9926307026","repostId":"2292107825","repostType":4,"repost":{"id":"2292107825","kind":"news","pubTimestamp":1671452466,"share":"https://ttm.financial/m/news/2292107825?lang=&edition=fundamental","pubTime":"2022-12-19 20:21","market":"us","language":"en","title":"SoFi: Aggressive Insider Buys","url":"https://stock-news.laohu8.com/highlight/detail?id=2292107825","media":"Seeking Alpha","summary":"SummaryMajor insider buys were executed by the firm’s CEO in December.Insider buys are noteworthy as","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Major insider buys were executed by the firm’s CEO in December.</li><li>Insider buys are noteworthy as they come at a time of souring investor sentiment regarding FinTechs.</li><li>SoFi continues to be an attractive growth play in the digital personal finance space, but prospects for near-term valuation growth are likely limited.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c4dd21270d276c4586268d8c6e19d609\" tg-width=\"1080\" tg-height=\"688\" width=\"100%\" height=\"auto\"/><span>Viorika</span></p><p>Shares of personal finance company SoFi (NASDAQ:SOFI) soared last week after mandatory disclosures showed that the firm’s Chief Executive Officer, Anthony Noto, executed three blocks of stock buys totaling $5M. The insider buys are worthy of mentioning because Noto purchased sharesnear 1-year lows and they come at a time of rock-bottom sentiment for FinTech companies and growing investor concerns about their paths to sustainable profitability. While the extension of the Federal Student Loan Payment Moratorium recently was a negative event for SoFi’s stock (and EBITDA) outlook, as detailed in &#34;SoFi: Tough Blow&#34;, I believe the CEO’s stock buys could help investors regain confidence in the company’s longer term growth prospects!</p><p><b>Insider buys come at a time of increasingly negative attitudes towards FinTechs</b></p><p>Anthony Noto executed three major stock buys for SoFi on Dec. 9, Dec. 12 and Dec. 13 (disclosure). On each occasion the company’s Chief Executive Officer acquired at least 132,600 shares and he paid as little as $4.29 (for the second batch of transactions) for his SoFi shares.</p><p>On Dec. 9, Noto purchased 682,500 shares at an average price of $4.36, followed by an acquisition of 132,600 shares bought at $4.29 on Dec. 12. The last transaction was executed on Dec. 13 which was when Noto purchased another 318,965 shares for a weighted-average price of $4.58… which is about the same level SoFi stock closed on Friday.</p><p>In total, Anthony Noto spent about $5M for 1.1M shares of SoFi in December which were also the first buys since June 2022. The CEO owned approximately 5.09M shares of SoFi after the last transaction was executed on Dec. 13 which gives the block holding, based off of a current price of $4.64, a total value of $23.6M. In other words: SoFi&#39;s Chief Executive Officer has skin in the game which is something that investor would want to see in every company they invest in.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/177702814aa697949e26b936345c365e\" tg-width=\"640\" tg-height=\"311\" width=\"100%\" height=\"auto\"/><span>Source: SoFi Disclosure</span></p><p><b>Investors demand to see profits</b></p><p>The recent extension of the Federal Student Loan Payment has weighed on SoFi’s valuation and pushed shares to new 1-year lows as the extension is set to impact SoFi’s near term EBITDA potential. I estimated that the continued freeze of student loan repayments could reduce SoFi’s EBITDA possibilities by $50M in FY 2023 to just $150M.</p><p>The core problem for SoFi, and which is likely the key reason behind SoFi’s down-ward revaluation in FY 2022, is that the company is not profitable, and its growth prospects traded at too lofty a valuation at the beginning of the year. Investors are increasingly demanding FinTechs show a clear path towards profitability.</p><p>Although SoFi is still seeing super-strong member acquisition rates -- the FinTech signed on 424 thousand new customers in Q3’22 -- driven chiefly by lending and financial services growth, the market is less willing to assign high valuation factors to FinTech companies that don’t generate significant profits.</p><p>Unfortunately, SoFi fits into this category because although revenues are still advancing rapidly, the FinTech is not yet achieving a baseline of profitability. SoFi’s earnings were negative to the tune of $74.2M in Q3’22 while the nine months loss (January through September period) reached $280.4M. SoFi, however, is expected to report its first profit in FY 2024, based on Seeking Alpha-provided estimates.</p><p><b>SoFi’s valuation</b></p><p>SoFi is on track to grow its revenues to $1.52B in revenues in FY 2022 (SoFi&#39;s guidance), implying a year over top line growth rate of 50%. Analysts expect $1.53B in revenues, so revenues could be slightly higher than guidance. SoFi is further expected to grow its top line 33% next year to $2.03B, so the FinTech is still projected to see healthy growth in FY 2023.</p><p>However, the extended student loan moratorium could hurt SoFi&#39;s prospects for valuation growth in the near term, despite shares trading at a P/S ratio well below the 1-year average of 3.3 X.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9331296589e6e5d54b83080faa10111c\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p><b>Risks with SoFi</b></p><p>One big risk factor for SoFi is the student loan business and the possibility of a continual freeze of student loan repayments in the middle of next year. At the beginning of the pandemic, student loan repayments were frozen in order to give borrowers financial relief. The Federal Student Loan Payment Moratorium has recently been extended to last through June 2023 which delays the reboot of SoFi’s student loan origination business. Since borrowers have more time to make student loan payments, SoFi is not making any money on student loan refinancings either. The moratorium therefore effectively pushes SoFi&#39;s EBITDA growth into the future.</p><p><b>Final thoughts</b></p><p>The insider buys couldn’t come at a better time as the stock is deeply depressed and investors are no longer eager to buy and own FinTech companies. SoFi’s CEO acquired a significant block of shares in the digital personal finance company in December and he did so very close to 1-year lows… which may either be good timing or just a coincidence. I believe SoFi has a lot of potential in the FinTech industry, especially because it keeps growing rapidly, but it may take longer than expected for SoFi to return to the stock highs of 2021!</p></body></html>","source":"seekingalpha_fund","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>SoFi: Aggressive Insider Buys</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\">\nSoFi: Aggressive Insider Buys\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-19 20:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4565227-sofi-stock-aggressive-insider-buys><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryMajor insider buys were executed by the firm’s CEO in December.Insider buys are noteworthy as they come at a time of souring investor sentiment regarding FinTechs.SoFi continues to be an ...</p>\n\n<a href=\"https://seekingalpha.com/article/4565227-sofi-stock-aggressive-insider-buys\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4551":"寇图资本持仓","BK4535":"淡马锡持仓","BK4166":"消费信贷","SOFI":"SoFi Technologies Inc.","BK4549":"软银资本持仓"},"source_url":"https://seekingalpha.com/article/4565227-sofi-stock-aggressive-insider-buys","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2292107825","content_text":"SummaryMajor insider buys were executed by the firm’s CEO in December.Insider buys are noteworthy as they come at a time of souring investor sentiment regarding FinTechs.SoFi continues to be an attractive growth play in the digital personal finance space, but prospects for near-term valuation growth are likely limited.ViorikaShares of personal finance company SoFi (NASDAQ:SOFI) soared last week after mandatory disclosures showed that the firm’s Chief Executive Officer, Anthony Noto, executed three blocks of stock buys totaling $5M. The insider buys are worthy of mentioning because Noto purchased sharesnear 1-year lows and they come at a time of rock-bottom sentiment for FinTech companies and growing investor concerns about their paths to sustainable profitability. While the extension of the Federal Student Loan Payment Moratorium recently was a negative event for SoFi’s stock (and EBITDA) outlook, as detailed in \"SoFi: Tough Blow\", I believe the CEO’s stock buys could help investors regain confidence in the company’s longer term growth prospects!Insider buys come at a time of increasingly negative attitudes towards FinTechsAnthony Noto executed three major stock buys for SoFi on Dec. 9, Dec. 12 and Dec. 13 (disclosure). On each occasion the company’s Chief Executive Officer acquired at least 132,600 shares and he paid as little as $4.29 (for the second batch of transactions) for his SoFi shares.On Dec. 9, Noto purchased 682,500 shares at an average price of $4.36, followed by an acquisition of 132,600 shares bought at $4.29 on Dec. 12. The last transaction was executed on Dec. 13 which was when Noto purchased another 318,965 shares for a weighted-average price of $4.58… which is about the same level SoFi stock closed on Friday.In total, Anthony Noto spent about $5M for 1.1M shares of SoFi in December which were also the first buys since June 2022. The CEO owned approximately 5.09M shares of SoFi after the last transaction was executed on Dec. 13 which gives the block holding, based off of a current price of $4.64, a total value of $23.6M. In other words: SoFi's Chief Executive Officer has skin in the game which is something that investor would want to see in every company they invest in.Source: SoFi DisclosureInvestors demand to see profitsThe recent extension of the Federal Student Loan Payment has weighed on SoFi’s valuation and pushed shares to new 1-year lows as the extension is set to impact SoFi’s near term EBITDA potential. I estimated that the continued freeze of student loan repayments could reduce SoFi’s EBITDA possibilities by $50M in FY 2023 to just $150M.The core problem for SoFi, and which is likely the key reason behind SoFi’s down-ward revaluation in FY 2022, is that the company is not profitable, and its growth prospects traded at too lofty a valuation at the beginning of the year. Investors are increasingly demanding FinTechs show a clear path towards profitability.Although SoFi is still seeing super-strong member acquisition rates -- the FinTech signed on 424 thousand new customers in Q3’22 -- driven chiefly by lending and financial services growth, the market is less willing to assign high valuation factors to FinTech companies that don’t generate significant profits.Unfortunately, SoFi fits into this category because although revenues are still advancing rapidly, the FinTech is not yet achieving a baseline of profitability. SoFi’s earnings were negative to the tune of $74.2M in Q3’22 while the nine months loss (January through September period) reached $280.4M. SoFi, however, is expected to report its first profit in FY 2024, based on Seeking Alpha-provided estimates.SoFi’s valuationSoFi is on track to grow its revenues to $1.52B in revenues in FY 2022 (SoFi's guidance), implying a year over top line growth rate of 50%. Analysts expect $1.53B in revenues, so revenues could be slightly higher than guidance. SoFi is further expected to grow its top line 33% next year to $2.03B, so the FinTech is still projected to see healthy growth in FY 2023.However, the extended student loan moratorium could hurt SoFi's prospects for valuation growth in the near term, despite shares trading at a P/S ratio well below the 1-year average of 3.3 X.Data by YChartsRisks with SoFiOne big risk factor for SoFi is the student loan business and the possibility of a continual freeze of student loan repayments in the middle of next year. At the beginning of the pandemic, student loan repayments were frozen in order to give borrowers financial relief. The Federal Student Loan Payment Moratorium has recently been extended to last through June 2023 which delays the reboot of SoFi’s student loan origination business. Since borrowers have more time to make student loan payments, SoFi is not making any money on student loan refinancings either. The moratorium therefore effectively pushes SoFi's EBITDA growth into the future.Final thoughtsThe insider buys couldn’t come at a better time as the stock is deeply depressed and investors are no longer eager to buy and own FinTech companies. SoFi’s CEO acquired a significant block of shares in the digital personal finance company in December and he did so very close to 1-year lows… which may either be good timing or just a coincidence. I believe SoFi has a lot of potential in the FinTech industry, especially because it keeps growing rapidly, but it may take longer than expected for SoFi to return to the stock highs of 2021!","news_type":1},"isVote":1,"tweetType":1,"viewCount":515,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"followers","isTTM":true}