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- Keankb223Keankb223
  ·2023-03-15
  Great ariticle, would you like to share it?
  6 Blue-Chip Big-Dividend Banks Are on Sale and Warren Buffett Owns Millions of Shares in 3 of Them
  Usually when there is a widespread failure in the banking industry, it is due to many institutions d
  6 Blue-Chip Big-Dividend Banks Are on Sale and Warren Buffett Owns Millions of Shares in 3 of Them
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- Keankb223Keankb223
  ·2022-05-19
  Ok
  Hedge Fund Melvin Capital Tells Investors It Plans to Shut Down
  Hedge fund manager Gabe Plotkin, who boasted one of Wall Street's best investing records, on Wednesd
  Hedge Fund Melvin Capital Tells Investors It Plans to Shut Down
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- Keankb223Keankb223
  ·2022-04-19
  KL C hmm
  Unfortunately For Apple, $80 Billion Isn't Much
  SummaryApple is trading at an almost $3 trillion valuation, meaning everything is on a larger scale.
  Unfortunately For Apple, $80 Billion Isn't Much
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the same thing, and often doing too much of it. The recent failures of Silicon Valley Bank and Signature Bank can be blamed as much on the Federal Reserve as it can be on poor stewardship from the banks.</p><p>The key words investors have been staring at the past few days is “unrealized losses.” Banks make money on their deposits by loading up on securities that pay more than the banks are paying their clients when they deposit money, and often banks use those deposits to buy short-term Treasury debt. The issue for Silicon Valley Bank (and perhaps many others) is that it bought a large amount of Treasury and mortgage-backed-securities debt prior to the massive one-year increase in the federal funds rate.</p><p>In most cases, that would be fine, as the short paper would come due at par, and the banks could reinvest as higher yields. However, with longer maturities it was a different story. Say a five-year note that was bought in January of 2022 that had a 1.50% yield, but that note was trading at a 4.36% yield last week. As yields went higher, the prices dropped dramatically as bond prices fall when yields jump.</p><p>When the run on Silicon Valley Bank started last week, as investors rushed to get their money out, led by tech venture capital giant Peter Thiel, the bank was forced to sell securities that had massive unrealized losses that were reported at a stunning $1.8 billion. While they tried to raise additional capital, that move failed, and regulators shut down the bank and took control.</p><p>The question for savvy investors is whether this is an isolated instance, due to Silicon Valley Bank’s large dependence on tech money or is a systemic issue that could bring down the industry. Unlike 2008, this appears to be more isolated. The banks that are getting stung now are tech and cryptocurrency casualties, or so it would seem.</p><p>The time for aggressive stock investors to strike is when the proverbial blood is in the streets, and now may be that time. Six top companies should be able to easily navigate this issue, and all look like smart ideas for aggressive growth stock investors. While they are all Buy rated on Wall Street, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.</p><h3><a href=\"https://laohu8.com/S/BAC\">Bank of America</a></h3><p>The company posted solid fourth-quarter results, and Buffett owns more than a billion shares. Bank of America Corp. (NYSE: BAC) is a ubiquitous presence in the United States, providing various banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, corporations and governments in the United States and internationally. It operates 5,100 banking centers, 16,300 ATMs, call centers and online and mobile banking platforms.</p><p>A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.</p><p>Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.</p><p>Bank of America has expanded into several new U.S. markets, with scale across the country positioning it ideally to benefit from accelerating loan growth over the next two years. Moreover, unlike smaller peers, scale allows the bank to increase investment substantially over the next few years without notably jeopardizing returns, driving further market share gains.</p><p>Shareholders receive a 3.45% dividend. Oppenheimer’s $53 target price on Bank of America stock is well above the $40.43 consensus target. Warren Buffett owns about a billion shares of this bank.</p><h3><a href=\"https://laohu8.com/S/BK\">BNY Mellon</a></h3><p>Founded in 1784, this is the oldest company in the Fortune 500, and Warren Buffett has a sizable position. Bank of New York Mellon Corp. (NYSE: BK) provides a range of financial products and services in the United States and internationally. The company operates through the following three segments.</p><p>The Investment Service segment offers custody, trust and depositary, accounting, exchange-traded funds services, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, brokerage and data analytics, clearing, investment, wealth and retirement solutions, technology and enterprise data management, trading, corporate trust, depositary receipts, payments, foreign exchange, liquidity management, receivables processing and payables management, trade finance and processing, collateral management and tri-party services.</p><p>The Investment and Wealth Management segment provides diversified investment management strategies and distribution of investment products, investment management, custody, wealth and estate planning, private banking, investment and information management services.</p><p>The Other segment engages in the leasing, corporate treasury, derivative and other trading, corporate and bank-owned life insurance, renewable energy investment and business exit activities. It serves central banks and sovereigns, financial institutions, asset managers, insurance companies, corporations, local authorities and high net-worth individuals and family offices.</p><p>Investors receive a 3.30% dividend. The $64 Barclays price target is a Wall Street high, and Bank of New York Mellon stock has a $56.47 consensus target. Monday’s $44.12 close was down almost 7% on the day.</p><h3><a href=\"https://laohu8.com/S/C\">Citigroup</a></h3><p>This top bank stock had rallied nicely off the lows, but the current issues are weighing hard. Citigroup Inc. (NYSE: C) is a leading global diversified financial service company that provides consumers, corporations and governments a broad range of financial products and services. It offers services such as consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. And it operates and does business in more than 160 countries and jurisdictions in North America, Latin America, Asia and elsewhere.</p><p>Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.</p><p>Trading at a still very cheap 7.0 times estimated 2023 earnings, Citigroup stock looks very reasonable in what remains a volatile stock market and in a sector that has dramatically lagged. Buffett bought a massive $2.5 billion worth of stock back in the summer of 2022.</p><p>Citigroup stock comes with a 4.56% dividend. The Oppenheimer price target is $87, another Wall Street high. The consensus target is $58.32, and Monday’s closing price of $44.74 was down well over 7% for the day.</p><h3><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a></h3><p>The white-glove Wall Street giant has had a rough go lately, as it strayed from its central business silos, but the stock looks to rebound the rest of the year. Goldman Sachs Group Inc. (NYSE: GS) provides a range of financial services for corporations, financial institutions, governments and individuals worldwide.</p><p>Its Global Banking &amp; Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs. It offers middle-market lending, relationship lending and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in resale agreements. This segment also offers client execution activities for cash and derivative instruments; credit and interest rate products; and provision of mortgages, currencies, commodities and equities-related products, as well as underwriting services.</p><p>The Asset &amp; Wealth Management segment manages assets across various classes, including equity, fixed income, hedge funds, credit funds, private equity, real estate, currencies and commodities. It also, provides customized investment advisory solutions, as well as invests in corporate, real estate and infrastructure entities.</p><p>The Platform Solutions segment offers credit cards and point-of-sale financing for purchase of goods or services. This segment also provides cash management services, such as deposit-taking and payment solutions for corporate and institutional clients.</p><p>The dividend yield here is 3.17%. Bank of America has set its target price at $425, well above the $395.79 consensus target. Goldman Sachs stock closed on Monday at $315.51, down close to 4% on the day.</p><h3><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a></h3><p>This stock trades at a still reasonable 12.0 times estimated 2023 earnings. JPMorgan Chase &amp; Co. (NYSE: JPM) is one of the leading global financial services firms and one of the largest banking institutions in the United States, with about $2.6 trillion in assets. The company as it is today was formed through the merger of retail bank Chase Manhattan and investment bank J.P. Morgan.</p><p>Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.</p><p>JPMorgan has many operating divisions, including investment and corporate banking, asset management, retail financial services, commercial banking, credit cards and financial transaction services.</p><p>Top analysts are very positive on the stock, largely because the industry titan faces a continued broad recovery in nearly every aspect of its business:</p><ul><li>Leading M&amp;A advisory and capital markets product set and market share</li><li>Massive footprint of corporate and commercial banking customers</li><li>Sizable wholesale payments businesses.</li></ul><p>The company has proven that it has the wherewithal to continually invest in people, products and platforms to further its market share base, extending its competitive advantage versus most peers.</p><p>JPMorgan Chase stock investors receive a 3.02% dividend. Oppenheimer has a $186 price objective. The consensus target is $158.37, and shares closed at $131.25 on Monday.</p><h3><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a></h3><p>This is another of Wall Street’s white glove firms, and it may be among the best buys in the banking and investment arena after this disaster. Morgan Stanley (NYSE: MS) is a global investment bank with leading positions in investment banking (M&amp;A and equity underwriting), equity trading and wealth management, which contributes nearly 50% of firmwide revenues. The firm also has an asset management business, which adds to the lower-risk business profile the firm has pursued since the financial crisis.</p><p>In 2020, the Wall Street investment bank completed a $13 billion purchase of discount brokerage E-Trade. With 5.2 million customers, E-Trade was once a revolutionary platform that “helped usher in a dramatic shift among financial services firms” and fueled the rise of indexes and exchange-traded funds, making investing vastly easier for do-it-yourself investors.</p><p>Shareholders receive a 3.52% dividend. Morgan Stanley stock has a $102 price target at Credit Suisse, in line with the $102.14 consensus target. Shares ended Monday trading at $87.99.</p><p>Again, three of these six top Wall Street giants are solid positions in Buffett’s Berkshire Hathaway. It may make sense to buy partial positions now and see how this shakes out over the next few weeks. The financial crisis in 2008 forced banks to tighten their risk parameters and controls, and all the mega-cap banks are in far better shape now than they were then. Yet, since another shoe could drop, so caution makes sense when adding these on-sale blue-chip giants.</p><p>Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.</p></body></html>","source":"lsy1620372341666","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>6 Blue-Chip Big-Dividend Banks Are on Sale and Warren Buffett Owns Millions of Shares in 3 of Them</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\">\n6 Blue-Chip Big-Dividend Banks Are on Sale and Warren Buffett Owns Millions of Shares in 3 of Them\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-15 11:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://247wallst.com/investing/2023/03/14/6-blue-chip-big-dividend-banks-are-on-sale-and-warren-buffett-owns-millions-of-shares-in-3-of-them/4/><strong>24/7 Wall St.</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Usually when there is a widespread failure in the banking industry, it is due to many institutions doing the same thing, and often doing too much of it. The recent failures of Silicon Valley Bank and ...</p>\n\n<a href=\"https://247wallst.com/investing/2023/03/14/6-blue-chip-big-dividend-banks-are-on-sale-and-warren-buffett-owns-millions-of-shares-in-3-of-them/4/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MS":"摩根士丹利","C":"花旗","BK":"纽约梅隆银行","JPM":"摩根大通","GS":"高盛","BAC":"美国银行"},"source_url":"https://247wallst.com/investing/2023/03/14/6-blue-chip-big-dividend-banks-are-on-sale-and-warren-buffett-owns-millions-of-shares-in-3-of-them/4/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181047003","content_text":"Usually when there is a widespread failure in the banking industry, it is due to many institutions doing the same thing, and often doing too much of it. The recent failures of Silicon Valley Bank and Signature Bank can be blamed as much on the Federal Reserve as it can be on poor stewardship from the banks.The key words investors have been staring at the past few days is “unrealized losses.” Banks make money on their deposits by loading up on securities that pay more than the banks are paying their clients when they deposit money, and often banks use those deposits to buy short-term Treasury debt. The issue for Silicon Valley Bank (and perhaps many others) is that it bought a large amount of Treasury and mortgage-backed-securities debt prior to the massive one-year increase in the federal funds rate.In most cases, that would be fine, as the short paper would come due at par, and the banks could reinvest as higher yields. However, with longer maturities it was a different story. Say a five-year note that was bought in January of 2022 that had a 1.50% yield, but that note was trading at a 4.36% yield last week. As yields went higher, the prices dropped dramatically as bond prices fall when yields jump.When the run on Silicon Valley Bank started last week, as investors rushed to get their money out, led by tech venture capital giant Peter Thiel, the bank was forced to sell securities that had massive unrealized losses that were reported at a stunning $1.8 billion. While they tried to raise additional capital, that move failed, and regulators shut down the bank and took control.The question for savvy investors is whether this is an isolated instance, due to Silicon Valley Bank’s large dependence on tech money or is a systemic issue that could bring down the industry. Unlike 2008, this appears to be more isolated. The banks that are getting stung now are tech and cryptocurrency casualties, or so it would seem.The time for aggressive stock investors to strike is when the proverbial blood is in the streets, and now may be that time. Six top companies should be able to easily navigate this issue, and all look like smart ideas for aggressive growth stock investors. While they are all Buy rated on Wall Street, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.Bank of AmericaThe company posted solid fourth-quarter results, and Buffett owns more than a billion shares. Bank of America Corp. (NYSE: BAC) is a ubiquitous presence in the United States, providing various banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, corporations and governments in the United States and internationally. It operates 5,100 banking centers, 16,300 ATMs, call centers and online and mobile banking platforms.A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.Bank of America has expanded into several new U.S. markets, with scale across the country positioning it ideally to benefit from accelerating loan growth over the next two years. Moreover, unlike smaller peers, scale allows the bank to increase investment substantially over the next few years without notably jeopardizing returns, driving further market share gains.Shareholders receive a 3.45% dividend. Oppenheimer’s $53 target price on Bank of America stock is well above the $40.43 consensus target. Warren Buffett owns about a billion shares of this bank.BNY MellonFounded in 1784, this is the oldest company in the Fortune 500, and Warren Buffett has a sizable position. Bank of New York Mellon Corp. (NYSE: BK) provides a range of financial products and services in the United States and internationally. The company operates through the following three segments.The Investment Service segment offers custody, trust and depositary, accounting, exchange-traded funds services, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, brokerage and data analytics, clearing, investment, wealth and retirement solutions, technology and enterprise data management, trading, corporate trust, depositary receipts, payments, foreign exchange, liquidity management, receivables processing and payables management, trade finance and processing, collateral management and tri-party services.The Investment and Wealth Management segment provides diversified investment management strategies and distribution of investment products, investment management, custody, wealth and estate planning, private banking, investment and information management services.The Other segment engages in the leasing, corporate treasury, derivative and other trading, corporate and bank-owned life insurance, renewable energy investment and business exit activities. It serves central banks and sovereigns, financial institutions, asset managers, insurance companies, corporations, local authorities and high net-worth individuals and family offices.Investors receive a 3.30% dividend. The $64 Barclays price target is a Wall Street high, and Bank of New York Mellon stock has a $56.47 consensus target. Monday’s $44.12 close was down almost 7% on the day.CitigroupThis top bank stock had rallied nicely off the lows, but the current issues are weighing hard. Citigroup Inc. (NYSE: C) is a leading global diversified financial service company that provides consumers, corporations and governments a broad range of financial products and services. It offers services such as consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. And it operates and does business in more than 160 countries and jurisdictions in North America, Latin America, Asia and elsewhere.Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.Trading at a still very cheap 7.0 times estimated 2023 earnings, Citigroup stock looks very reasonable in what remains a volatile stock market and in a sector that has dramatically lagged. Buffett bought a massive $2.5 billion worth of stock back in the summer of 2022.Citigroup stock comes with a 4.56% dividend. The Oppenheimer price target is $87, another Wall Street high. The consensus target is $58.32, and Monday’s closing price of $44.74 was down well over 7% for the day.Goldman SachsThe white-glove Wall Street giant has had a rough go lately, as it strayed from its central business silos, but the stock looks to rebound the rest of the year. Goldman Sachs Group Inc. (NYSE: GS) provides a range of financial services for corporations, financial institutions, governments and individuals worldwide.Its Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs. It offers middle-market lending, relationship lending and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in resale agreements. This segment also offers client execution activities for cash and derivative instruments; credit and interest rate products; and provision of mortgages, currencies, commodities and equities-related products, as well as underwriting services.The Asset & Wealth Management segment manages assets across various classes, including equity, fixed income, hedge funds, credit funds, private equity, real estate, currencies and commodities. It also, provides customized investment advisory solutions, as well as invests in corporate, real estate and infrastructure entities.The Platform Solutions segment offers credit cards and point-of-sale financing for purchase of goods or services. This segment also provides cash management services, such as deposit-taking and payment solutions for corporate and institutional clients.The dividend yield here is 3.17%. Bank of America has set its target price at $425, well above the $395.79 consensus target. Goldman Sachs stock closed on Monday at $315.51, down close to 4% on the day.JPMorgan ChaseThis stock trades at a still reasonable 12.0 times estimated 2023 earnings. JPMorgan Chase & Co. (NYSE: JPM) is one of the leading global financial services firms and one of the largest banking institutions in the United States, with about $2.6 trillion in assets. The company as it is today was formed through the merger of retail bank Chase Manhattan and investment bank J.P. Morgan.Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.JPMorgan has many operating divisions, including investment and corporate banking, asset management, retail financial services, commercial banking, credit cards and financial transaction services.Top analysts are very positive on the stock, largely because the industry titan faces a continued broad recovery in nearly every aspect of its business:Leading M&A advisory and capital markets product set and market shareMassive footprint of corporate and commercial banking customersSizable wholesale payments businesses.The company has proven that it has the wherewithal to continually invest in people, products and platforms to further its market share base, extending its competitive advantage versus most peers.JPMorgan Chase stock investors receive a 3.02% dividend. Oppenheimer has a $186 price objective. The consensus target is $158.37, and shares closed at $131.25 on Monday.Morgan StanleyThis is another of Wall Street’s white glove firms, and it may be among the best buys in the banking and investment arena after this disaster. Morgan Stanley (NYSE: MS) is a global investment bank with leading positions in investment banking (M&A and equity underwriting), equity trading and wealth management, which contributes nearly 50% of firmwide revenues. The firm also has an asset management business, which adds to the lower-risk business profile the firm has pursued since the financial crisis.In 2020, the Wall Street investment bank completed a $13 billion purchase of discount brokerage E-Trade. With 5.2 million customers, E-Trade was once a revolutionary platform that “helped usher in a dramatic shift among financial services firms” and fueled the rise of indexes and exchange-traded funds, making investing vastly easier for do-it-yourself investors.Shareholders receive a 3.52% dividend. Morgan Stanley stock has a $102 price target at Credit Suisse, in line with the $102.14 consensus target. Shares ended Monday trading at $87.99.Again, three of these six top Wall Street giants are solid positions in Buffett’s Berkshire Hathaway. It may make sense to buy partial positions now and see how this shakes out over the next few weeks. The financial crisis in 2008 forced banks to tighten their risk parameters and controls, and all the mega-cap banks are in far better shape now than they were then. Yet, since another shoe could drop, so caution makes sense when adding these on-sale blue-chip giants.Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.","news_type":1},"isVote":1,"tweetType":1,"viewCount":80,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9023262205,"gmtCreate":1652922352807,"gmtModify":1676535189433,"author":{"id":"3575096254378312","authorId":"3575096254378312","name":"Keankb223","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575096254378312","authorIdStr":"3575096254378312"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9023262205","repostId":"2236143467","repostType":2,"repost":{"id":"2236143467","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1652916448,"share":"https://ttm.financial/m/news/2236143467?lang=&edition=fundamental","pubTime":"2022-05-19 07:27","market":"us","language":"en","title":"Hedge Fund Melvin Capital Tells Investors It Plans to Shut Down","url":"https://stock-news.laohu8.com/highlight/detail?id=2236143467","media":"Reuters","summary":"Hedge fund manager Gabe Plotkin, who boasted one of Wall Street's best investing records, on Wednesd","content":"<html><head></head><body><p>Hedge fund manager Gabe Plotkin, who boasted <a href=\"https://laohu8.com/S/AONE.U\">one</a> of Wall Street&#39;s best investing records, on Wednesday told investors that he is shutting down his firm, Melvin Capital, after it suffered billions of dollars in losses.</p><p>&#34;The appropriate next step is to wind down the Funds by fully liquidating the Funds&#39; assets and accounts and returning cash to all investors,&#34; Plotkin wrote in a letter reviewed by Reuters on Wednesday.</p><p>Melvin Capital had $7.8 billion in assets at the end of April and the fund had lost 23% since January, a person familiar with the fund&#39;s finances said.</p><p>This year&#39;s losses come on the heels of steep losses in 2021 when Melvin Capital ended the year down 39%. The firm bet that shares of GameStop would tumble but was battered when retail investors took the other side and sent the stock surging.</p><p>The firm had $12.5 billion in assets at the start of 2021.</p><p>In the letter Plotkin said he had already raised a substantial amount of cash and cut the funds&#39; exposure.</p><p>A spokesman for Plotkin declined to comment.</p><p>At the end of the first quarter Melvin&#39;s biggest investments included bets on <a href=\"https://laohu8.com/S/LYV\">Live Nation Entertainment</a> , Hilton Worldwide Holdings, Amazon and <a href=\"https://laohu8.com/S/DDOG\">Datadog</a>. Their stock prices have fallen sharply in the last weeks, sparking speculation that a hedge fund might be trying to unwind positions.</p><p>Plotkin was a star investor at Steven A. Cohen&#39;s hedge fund SAC Capital Advisors and launched his own firm after SAC pleaded guilty to criminal insider trading charges. Melvin Capital quickly attracted attention and powerful investors and ended 2020, the year the pandemic began, with gains of 52.5%.</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>Hedge Fund Melvin Capital Tells Investors It Plans to Shut Down</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\">\nHedge Fund Melvin Capital Tells Investors It Plans to Shut Down\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-05-19 07:27</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Hedge fund manager Gabe Plotkin, who boasted <a href=\"https://laohu8.com/S/AONE.U\">one</a> of Wall Street&#39;s best investing records, on Wednesday told investors that he is shutting down his firm, Melvin Capital, after it suffered billions of dollars in losses.</p><p>&#34;The appropriate next step is to wind down the Funds by fully liquidating the Funds&#39; assets and accounts and returning cash to all investors,&#34; Plotkin wrote in a letter reviewed by Reuters on Wednesday.</p><p>Melvin Capital had $7.8 billion in assets at the end of April and the fund had lost 23% since January, a person familiar with the fund&#39;s finances said.</p><p>This year&#39;s losses come on the heels of steep losses in 2021 when Melvin Capital ended the year down 39%. The firm bet that shares of GameStop would tumble but was battered when retail investors took the other side and sent the stock surging.</p><p>The firm had $12.5 billion in assets at the start of 2021.</p><p>In the letter Plotkin said he had already raised a substantial amount of cash and cut the funds&#39; exposure.</p><p>A spokesman for Plotkin declined to comment.</p><p>At the end of the first quarter Melvin&#39;s biggest investments included bets on <a href=\"https://laohu8.com/S/LYV\">Live Nation Entertainment</a> , Hilton Worldwide Holdings, Amazon and <a href=\"https://laohu8.com/S/DDOG\">Datadog</a>. Their stock prices have fallen sharply in the last weeks, sparking speculation that a hedge fund might be trying to unwind positions.</p><p>Plotkin was a star investor at Steven A. Cohen&#39;s hedge fund SAC Capital Advisors and launched his own firm after SAC pleaded guilty to criminal insider trading charges. Melvin Capital quickly attracted attention and powerful investors and ended 2020, the year the pandemic began, with gains of 52.5%.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4547":"WSB热门概念","AMZN":"亚马逊","LYV":"Live Nation Entertainment","BK4108":"电影和娱乐","GME":"游戏驿站","HLT":"希尔顿酒店","BK4566":"资本集团","BK4142":"酒店、度假村与豪华游轮","BK4076":"电脑与电子产品零售","DDOG":"Datadog","BK4577":"网络游戏"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2236143467","content_text":"Hedge fund manager Gabe Plotkin, who boasted one of Wall Street's best investing records, on Wednesday told investors that he is shutting down his firm, Melvin Capital, after it suffered billions of dollars in losses.\"The appropriate next step is to wind down the Funds by fully liquidating the Funds' assets and accounts and returning cash to all investors,\" Plotkin wrote in a letter reviewed by Reuters on Wednesday.Melvin Capital had $7.8 billion in assets at the end of April and the fund had lost 23% since January, a person familiar with the fund's finances said.This year's losses come on the heels of steep losses in 2021 when Melvin Capital ended the year down 39%. The firm bet that shares of GameStop would tumble but was battered when retail investors took the other side and sent the stock surging.The firm had $12.5 billion in assets at the start of 2021.In the letter Plotkin said he had already raised a substantial amount of cash and cut the funds' exposure.A spokesman for Plotkin declined to comment.At the end of the first quarter Melvin's biggest investments included bets on Live Nation Entertainment , Hilton Worldwide Holdings, Amazon and Datadog. Their stock prices have fallen sharply in the last weeks, sparking speculation that a hedge fund might be trying to unwind positions.Plotkin was a star investor at Steven A. Cohen's hedge fund SAC Capital Advisors and launched his own firm after SAC pleaded guilty to criminal insider trading charges. Melvin Capital quickly attracted attention and powerful investors and ended 2020, the year the pandemic began, with gains of 52.5%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9088221818,"gmtCreate":1650351839879,"gmtModify":1676534703318,"author":{"id":"3575096254378312","authorId":"3575096254378312","name":"Keankb223","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575096254378312","authorIdStr":"3575096254378312"},"themes":[],"htmlText":"KL C hmm","listText":"KL C hmm","text":"KL C hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9088221818","repostId":"1198419015","repostType":2,"repost":{"id":"1198419015","kind":"news","pubTimestamp":1650346863,"share":"https://ttm.financial/m/news/1198419015?lang=&edition=fundamental","pubTime":"2022-04-19 13:41","market":"us","language":"en","title":"Unfortunately For Apple, $80 Billion Isn't Much","url":"https://stock-news.laohu8.com/highlight/detail?id=1198419015","media":"seekingalpha","summary":"SummaryApple is trading at an almost $3 trillion valuation, meaning everything is on a larger scale.","content":"<html><head></head><body><h2>Summary</h2><ul><li>Apple is trading at an almost $3 trillion valuation, meaning everything is on a larger scale.</li><li>Analysts expect the potential for an almost 10% dividend rise and $80 billion on buybacks, but for Apple, that&#39;s just several %.</li><li>The company&#39;s size and current existing scale mean that operating effectively and generating strong returns will become increasingly difficult at current valuations.</li></ul><p>Apple Inc. (NASDAQ:AAPL) analyst Jim Suva has come out stating that, with Apple&#39;s second quarter earnings, the company could boost dividends by 5 to 10% and buybacks by ~$80-90 billion. Unfortunately, as we&#39;ll see throughout this article, even if that happens, Apple is still overvalued without the ability to provide continued shareholder rewards.</p><h2>Apple Buyback History</h2><p>Apple has a long history of buybacks that have been incredibly comfortable for the company.</p><p><img src=\"https://static.tigerbbs.com/f078dc71f3340d283f60fc88b9589580\" tg-width=\"640\" tg-height=\"292\" width=\"100%\" height=\"auto\"/></p><p>Apple has become the poster child for share buybacks. Since the program started in 2012, the company has spent a substantial $467 billion, making it the largest spender on share buybacks out of any company. Through that, the company has managed to reduce its outstanding shares from 26 billion to roughly 16 billion on top of managing employee costs (dilution from RSUs).</p><p>That means the company&#39;s cost per share for the entire program so far has been roughly $47/share, or roughly 25% of current share prices of $167 / share. Given that the company used 16% of the market capitalization to repurchase shares at these prices, the buyback program has had a substantial effect on the company&#39;s current value.</p><p>However, to continue the effects going forward, it&#39;ll be hard. Since 2012, the company has repurchased roughly 40% of its outstanding shares at the time or 4% annually. To continue, the company would have to spend more than $100 billion annually on buybacks, or more than double the rate it&#39;s spent on buybacks so far.</p><h2>Apple Dividend</h2><p>Apple has had a modest but steadily increasing dividend.</p><p><img src=\"https://static.tigerbbs.com/671d05367eeefdf250451c33aab7ea0b\" tg-width=\"640\" tg-height=\"314\" width=\"100%\" height=\"auto\"/></p><p>Apple&#39;s initial dividend was impressive at more than 2%. Unfortunately for the company, multiple expansion has caused that dividend to decrease substantially despite increasing dividend payouts. That&#39;s now at roughly 0.5% yield, and given the company&#39;s FCF yield, we don&#39;t see that increasing significantly in the future.</p><p>Specifically, a 2.5% dividend yield would now cost the company more than $70 billion annualized, a significant part of its FCF.</p><h2>Apple FCF Yield</h2><p>Apple&#39;s issue versus its current valuation is its FCF yield.</p><p><img src=\"https://static.tigerbbs.com/f78996bb2e25e464e54fb576e8945698\" tg-width=\"640\" tg-height=\"416\" width=\"100%\" height=\"auto\"/></p><p>Apple has dramatically increased its net income YOY on the back of much slower revenue growth. Part of that has been accelerated by COVID-19 related growth but the company has earned almost $95 billion in net income, or an FCF yield of roughly 3%. The company&#39;s operating expenses have increased by 10% but it&#39;s been supported by a 30% growth in net sales.</p><p>However, despite this substantial earnings growth, the company&#39;s low FCF yield still hurts its shareholder returns. A 10% dividend growth, as stated potentially, would take dividends to a mere 0.6%, and similarly $80 billion in annual buybacks would utilize most of the company&#39;s cash flow and take total shareholder returns to roughly 3.5%.</p><p>Among the company&#39;s issues is stock-based compensation expense approaching $8 billion annually. That&#39;s a very real part of the company&#39;s operating costs, and it&#39;s not expected to go down anytime soon. It costs the company roughly 10% of its allocated buybacks or roughly 0.3% of its market capitalization.</p><h2>Apple Growth</h2><p>Apple has achieved consistent revenue growth, however, the revenue has gone through cycles of boom and bust.</p><p><img src=\"https://static.tigerbbs.com/600a63b741937f7e2eea2dfa84b71a1f\" tg-width=\"640\" tg-height=\"215\" width=\"100%\" height=\"auto\"/></p><p>Specifically, especially for iPad and Mac sales, Covid-19 related trends have consistently helped the company&#39;s revenue, which has grown substantially over the past year. However, we expect that growth to peter out from a combination of return to the office and the impacts of inflation on budgets for replacing higher-end items.</p><p>With a 3% FCF yield, Apple needs to achieve significant continued growth to justify its valuation. Profits and cash flow need to expand significantly from current incredibly high levels because of the pandemic, which would hurt the company&#39;s ability to provide continued shareholder returns.</p><h2>Thesis Risk</h2><p>The largest risk to our thesis is Apple&#39;s brand. Apple has the most valuable brand in the world and has built up substantial loyalty from impressive products. The company, versus a decade ago, now has the AirPods and Apple Watch as products that most iPhone users purchase and consider essential as part of the &#34;ecosystem.&#34;</p><p>There&#39;s no guarantee the company won&#39;t be able to launch more products like that, increasing earnings growth and minimizing its valuation.</p><h2>Conclusion</h2><p>Expectations are that with Apple&#39;s next earnings, the company could expand its buyback program and dividends significantly. Unfortunately for investors, when you&#39;re approaching a $3 trillion market capitalization, you need a massive capital program in order to move the needle. The company has spent ~$500 billion on buybacks, which only moved the needle at below current prices.</p><p>The company&#39;s FCF yield means that with dividends plus share buybacks, the company will be able to move share prices substantially. The company will be spending $10s of billions if not $100s of billions in cash, but struggle with its current valuation to generate continued shareholder returns. In our view, that makes the company a less valuable investment.</p></body></html>","source":"lsy1638401102509","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>Unfortunately For Apple, $80 Billion Isn't Much</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\">\nUnfortunately For Apple, $80 Billion Isn't Much\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-19 13:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4501898-unfortunately-for-apple-80-billion-isnt-much><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryApple is trading at an almost $3 trillion valuation, meaning everything is on a larger scale.Analysts expect the potential for an almost 10% dividend rise and $80 billion on buybacks, but for ...</p>\n\n<a href=\"https://seekingalpha.com/article/4501898-unfortunately-for-apple-80-billion-isnt-much\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4501898-unfortunately-for-apple-80-billion-isnt-much","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198419015","content_text":"SummaryApple is trading at an almost $3 trillion valuation, meaning everything is on a larger scale.Analysts expect the potential for an almost 10% dividend rise and $80 billion on buybacks, but for Apple, that's just several %.The company's size and current existing scale mean that operating effectively and generating strong returns will become increasingly difficult at current valuations.Apple Inc. (NASDAQ:AAPL) analyst Jim Suva has come out stating that, with Apple's second quarter earnings, the company could boost dividends by 5 to 10% and buybacks by ~$80-90 billion. Unfortunately, as we'll see throughout this article, even if that happens, Apple is still overvalued without the ability to provide continued shareholder rewards.Apple Buyback HistoryApple has a long history of buybacks that have been incredibly comfortable for the company.Apple has become the poster child for share buybacks. Since the program started in 2012, the company has spent a substantial $467 billion, making it the largest spender on share buybacks out of any company. Through that, the company has managed to reduce its outstanding shares from 26 billion to roughly 16 billion on top of managing employee costs (dilution from RSUs).That means the company's cost per share for the entire program so far has been roughly $47/share, or roughly 25% of current share prices of $167 / share. Given that the company used 16% of the market capitalization to repurchase shares at these prices, the buyback program has had a substantial effect on the company's current value.However, to continue the effects going forward, it'll be hard. Since 2012, the company has repurchased roughly 40% of its outstanding shares at the time or 4% annually. To continue, the company would have to spend more than $100 billion annually on buybacks, or more than double the rate it's spent on buybacks so far.Apple DividendApple has had a modest but steadily increasing dividend.Apple's initial dividend was impressive at more than 2%. Unfortunately for the company, multiple expansion has caused that dividend to decrease substantially despite increasing dividend payouts. That's now at roughly 0.5% yield, and given the company's FCF yield, we don't see that increasing significantly in the future.Specifically, a 2.5% dividend yield would now cost the company more than $70 billion annualized, a significant part of its FCF.Apple FCF YieldApple's issue versus its current valuation is its FCF yield.Apple has dramatically increased its net income YOY on the back of much slower revenue growth. Part of that has been accelerated by COVID-19 related growth but the company has earned almost $95 billion in net income, or an FCF yield of roughly 3%. The company's operating expenses have increased by 10% but it's been supported by a 30% growth in net sales.However, despite this substantial earnings growth, the company's low FCF yield still hurts its shareholder returns. A 10% dividend growth, as stated potentially, would take dividends to a mere 0.6%, and similarly $80 billion in annual buybacks would utilize most of the company's cash flow and take total shareholder returns to roughly 3.5%.Among the company's issues is stock-based compensation expense approaching $8 billion annually. That's a very real part of the company's operating costs, and it's not expected to go down anytime soon. It costs the company roughly 10% of its allocated buybacks or roughly 0.3% of its market capitalization.Apple GrowthApple has achieved consistent revenue growth, however, the revenue has gone through cycles of boom and bust.Specifically, especially for iPad and Mac sales, Covid-19 related trends have consistently helped the company's revenue, which has grown substantially over the past year. However, we expect that growth to peter out from a combination of return to the office and the impacts of inflation on budgets for replacing higher-end items.With a 3% FCF yield, Apple needs to achieve significant continued growth to justify its valuation. Profits and cash flow need to expand significantly from current incredibly high levels because of the pandemic, which would hurt the company's ability to provide continued shareholder returns.Thesis RiskThe largest risk to our thesis is Apple's brand. Apple has the most valuable brand in the world and has built up substantial loyalty from impressive products. The company, versus a decade ago, now has the AirPods and Apple Watch as products that most iPhone users purchase and consider essential as part of the \"ecosystem.\"There's no guarantee the company won't be able to launch more products like that, increasing earnings growth and minimizing its valuation.ConclusionExpectations are that with Apple's next earnings, the company could expand its buyback program and dividends significantly. Unfortunately for investors, when you're approaching a $3 trillion market capitalization, you need a massive capital program in order to move the needle. The company has spent ~$500 billion on buybacks, which only moved the needle at below current prices.The company's FCF yield means that with dividends plus share buybacks, the company will be able to move share prices substantially. The company will be spending $10s of billions if not $100s of billions in cash, but struggle with its current valuation to generate continued shareholder returns. In our view, that makes the company a less valuable investment.","news_type":1},"isVote":1,"tweetType":1,"viewCount":219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":true}