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pkl
pkl
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2022-05-23
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Financial Report Preview | Whether Nvidia can make a triumphant comeback depends on the Q1 earnings report!
英伟达计划于美东时间5月25日美股收盘后公布截至4月30日的2023财年Q1业绩。在上一季度财报中,英伟达预估本季度(2023财年Q1)营收为81.0亿美元(上下波动2%),高于预期72.2亿美元;预
Financial Report Preview | Whether Nvidia can make a triumphant comeback depends on the Q1 earnings report!
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pkl
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2022-05-23
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pkl
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2022-05-23
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With steady revenue and persistent premiums, will Zoom continue to cut losses?
概括:ZM股票从2020年10月的高点急剧下跌,但其仍具有显著的增长溢价。尽管溢价需要消化,但市场并未给Zoom投资者任何喘息的机会。我们将评级从买入调整为卖出,估计在达到显著底部之前可能存在27%的
With steady revenue and persistent premiums, will Zoom continue to cut losses?
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pkl
pkl
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2022-05-23
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pkl
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2022-05-23
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Apple, Microsoft, Google, Amazon: The Performance Dilemma of the Giants
01 近期的大跌在交易什么?纳斯达克100指数(QQQ)年初至今已回撤28%,陷入熊市水平。最近更是弱得很彻底,几次反弹都仅持续一天,比如上周二,上上周五。这都是在交易什么呢?答案很直观:衰退。去年底
Apple, Microsoft, Google, Amazon: The Performance Dilemma of the Giants
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pkl
pkl
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2022-05-17
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pkl
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2022-05-17
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Who is the second Tesla? Soros bet heavily on this company
现在说起电动车,全球投资者头脑中浮现的第一个品牌基本都是特斯拉。随着电动车产业的发展,除特斯拉之外还有400多个大大小小的品牌,这其中一定会出现一家或几家可以和特斯拉相抗衡的企业,索罗斯就重金押注其中
Who is the second Tesla? Soros bet heavily on this company
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pkl
pkl
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2022-05-06
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pkl
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2022-04-28
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Teladoc Health was suspended from trading during trading, after its share price fell more than 44% before the suspension.
4月28日,Teladoc Health盘中停牌,停牌前股价跌逾44%,报31.23美元。
Teladoc Health was suspended from trading during trading, after its share price fell more than 44% before the suspension.
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2022-04-28
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Most new energy vehicle sectors in the US stock market declined, with Tesla falling nearly 4%.
4月28日,美股新能源车板块多数走低,福特汽车跌超5%,特斯拉跌近4%,Rivian跌2.2%,蔚来跌近2%。
Most new energy vehicle sectors in the US stock market declined, with Tesla falling nearly 4%.
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18:29","market":"us","language":"zh","title":"Financial Report Preview | Whether Nvidia can make a triumphant comeback depends on the Q1 earnings report!","url":"https://stock-news.laohu8.com/highlight/detail?id=2237286827","media":"老虎资讯综合","summary":"英伟达计划于美东时间5月25日美股收盘后公布截至4月30日的2023财年Q1业绩。在上一季度财报中,英伟达预估本季度(2023财年Q1)营收为81.0亿美元(上下波动2%),高于预期72.2亿美元;预","content":"<p><html><head></head><body><a href=\"https://laohu8.com/S/NVDA\">NVIDIA</a>The company plans to release its Q1 results for fiscal year 2023, ending April 30, after the U.S. stock market closes on May 25, Eastern Time.<img src=\"https://static.tigerbbs.com/0bcf0217d1952bf8213351c45058c163\" tg-width=\"1800\" tg-height=\"1430\" width=\"100%\" height=\"auto\"/>In the previous quarterly financial report,<b>Nvidia forecasts this quarter (</b>FY2023 Q1<b>Revenue was $8.10 billion (up or down 2%), exceeding the expected $7.22 billion; The estimated adjusted gross profit margin for the first quarter is 67.0% (fluctuation 0.5%). Adjusted operating expenses are expected to be $1.6 billion, higher than the forecast of $1.46 billion.</b></p><p>The market generally expects the company to report total revenue of $8.09 billion and earnings per share (EPS) of $1.29 in Q1, compared to total revenue of $5.66 billion and earnings per share of $0.92 in the same period last year.<b>Historically, Nvidia's total revenue and EPS have exceeded market expectations for 12 consecutive quarters.</b><img src=\"https://static.tigerbbs.com/72b8471534ea7cbf42bf3e0014e3a9ad\" tg-width=\"1524\" tg-height=\"593\" referrerpolicy=\"no-referrer\"/></p><p><img src=\"https://static.tigerbbs.com/b4501b7b3af70f7391780ecbb8d2a4be\" tg-width=\"1507\" tg-height=\"591\" referrerpolicy=\"no-referrer\"/><b>With its market capitalization halved, can Nvidia \"buy at the bottom\"?</b></p><p>Nvidia hit an all-time high of $346.47 last November, sparked by strong demand and a global chip shortage. Since then, concerns about an economic slowdown and the outlook for rate hike have weighed on the stock price, which is now down nearly 50% from its all-time high reached at the end of last year, and 40% this year alone.<img src=\"https://static.tigerbbs.com/497d3d251c9e30cdcc2f07e12a9e32f4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/><b>From</b><b><b>From a valuation perspective, it is gradually becoming</b></b></p><p>In terms of valuation, Nvidia still has a \"best-in-class\" premium over its relatively smaller competitors. In terms of expected P/E, Nvidia's figure remains at 30x. In comparison, its competitor AMD expects P/E at 22x, while other competitors also expect P/E to be relatively low.<a href=\"https://laohu8.com/S/TXN\">Texas Instruments</a>is 19x,<a href=\"https://laohu8.com/S/INTC\">Intel</a>is 12x,<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>is 10x,<a href=\"https://laohu8.com/S/MU\">Micron Technology</a>It is 6x.</p><p>Currently, Nvidia's one-year stock valuation is significantly lower than the average, placing it at its lowest level in the one-year period. Some analysts believe this indicates that<span style=\"color:rgba(236,31,15,1);\"><b>If the latest earnings and guidance meet or even exceed market expectations, it would be an excellent opportunity for long-term investors to buy the company's stock at a reasonable valuation.</b></span><img src=\"https://static.tigerbbs.com/207b753f81610ea29fae2accce1ef43d\" tg-width=\"443\" tg-height=\"316\" referrerpolicy=\"no-referrer\"/><b>Wall Street is bullish, is Q1 secure?</b></p><p>Market expectations for Nvidia's first fiscal quarter remain high, with analysts expecting revenue and profit to grow by more than 40% year-on-year. However, the global chip shortage may affect Nvidia, as it is an upstream Fab (chip designer) and heavily reliant on the production capacity of wafer foundries. Last month, Nvidia indicated that it was increasing its efforts to replenish its inventory of graphics processing products (GPU products), suggesting that the worst of the company's chip shortage may be over.</p><p>Some analysts pointed out that while this is a good sign of sales growth, the average selling price (ASP) of the company's products may decrease due to declining demand, which could harm the company's profit margin figures, which have consistently amazed the market in the past. Analysts generally say,<b>We will closely monitor any signals from the latest quarterly earnings report regarding changes in the chip supply and demand balance.</b></p><p><b>According to Oppenheimer, Nvidia's first-quarter earnings report may be better than expected due to strong demand, with its data center business expected to grow by 75% year-over-year.</b></p><p>Oppenheimer analysts predict that,<span style=\"color:rgba(235,34,19,1);\">First-quarter earnings per share and sales will exceed Wall Street expectations of $1.30 and $8.1 billion, respectively.</span>The company expects,<span style=\"color:rgba(242,34,18,1);\">Earnings per share and sales for the second fiscal quarter will exceed market consensus expectations of $1.36 and $8.4 billion, respectively.</span></p><p>Oppenheimer stated that supply chain constraints should ease in the second half of this year, which is expected to drive up performance. “Our long-term argument remains unchanged, as Nvidia’s core leading gaming and AI strengths will remain poised for massive structural growth,” the analyst said. “We remain bullish on Nvidia in the long term.”</p><p>Oppenheimer lowered his price target for Nvidia from $350 to $300, while reiterating its outperform rating. The new target price shows that,<b>Nvidia's stock price has 77% upside potential.</b></p><p>Of the 44 analysts surveyed by Seeking Alpha, 27 gave them a \"strong buy\" rating. Eight other companies marked it as a \"buy\". Meanwhile, only one analyst listed Nvidia as \"sell,\" while eight other analysts listed it as \"hold.\"<img src=\"https://static.tigerbbs.com/7095d79d9ef83e42e91f4456852ad50b\" tg-width=\"827\" tg-height=\"214\" referrerpolicy=\"no-referrer\"/>The article concludes by pouring cold water on investors who are optimistic about Nvidia.<b>If market risk appetite continues to decline, coupled with the latest earnings report disappointing the market, the stock's $165 support level could be broken, and it could fall further towards $150 or even slide further near the low of May 2021.</b></p><p></body></html></p>","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>Financial Report Preview | Whether Nvidia can make a triumphant comeback depends on the Q1 earnings report!</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: 12.5px; color: #7E829C; margin: 0;}\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\">\nFinancial Report Preview | Whether Nvidia can make a triumphant comeback depends on the Q1 earnings report!\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-05-23 18:29</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><a href=\"https://laohu8.com/S/NVDA\">NVIDIA</a>The company plans to release its Q1 results for fiscal year 2023, ending April 30, after the U.S. stock market closes on May 25, Eastern Time.<img src=\"https://static.tigerbbs.com/0bcf0217d1952bf8213351c45058c163\" tg-width=\"1800\" tg-height=\"1430\" width=\"100%\" height=\"auto\"/>In the previous quarterly financial report,<b>Nvidia forecasts this quarter (</b>FY2023 Q1<b>Revenue was $8.10 billion (up or down 2%), exceeding the expected $7.22 billion; The estimated adjusted gross profit margin for the first quarter is 67.0% (fluctuation 0.5%). Adjusted operating expenses are expected to be $1.6 billion, higher than the forecast of $1.46 billion.</b></p><p>The market generally expects the company to report total revenue of $8.09 billion and earnings per share (EPS) of $1.29 in Q1, compared to total revenue of $5.66 billion and earnings per share of $0.92 in the same period last year.<b>Historically, Nvidia's total revenue and EPS have exceeded market expectations for 12 consecutive quarters.</b><img src=\"https://static.tigerbbs.com/72b8471534ea7cbf42bf3e0014e3a9ad\" tg-width=\"1524\" tg-height=\"593\" referrerpolicy=\"no-referrer\"/></p><p><img src=\"https://static.tigerbbs.com/b4501b7b3af70f7391780ecbb8d2a4be\" tg-width=\"1507\" tg-height=\"591\" referrerpolicy=\"no-referrer\"/><b>With its market capitalization halved, can Nvidia \"buy at the bottom\"?</b></p><p>Nvidia hit an all-time high of $346.47 last November, sparked by strong demand and a global chip shortage. Since then, concerns about an economic slowdown and the outlook for rate hike have weighed on the stock price, which is now down nearly 50% from its all-time high reached at the end of last year, and 40% this year alone.<img src=\"https://static.tigerbbs.com/497d3d251c9e30cdcc2f07e12a9e32f4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/><b>From</b><b><b>From a valuation perspective, it is gradually becoming</b></b></p><p>In terms of valuation, Nvidia still has a \"best-in-class\" premium over its relatively smaller competitors. In terms of expected P/E, Nvidia's figure remains at 30x. In comparison, its competitor AMD expects P/E at 22x, while other competitors also expect P/E to be relatively low.<a href=\"https://laohu8.com/S/TXN\">Texas Instruments</a>is 19x,<a href=\"https://laohu8.com/S/INTC\">Intel</a>is 12x,<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>is 10x,<a href=\"https://laohu8.com/S/MU\">Micron Technology</a>It is 6x.</p><p>Currently, Nvidia's one-year stock valuation is significantly lower than the average, placing it at its lowest level in the one-year period. Some analysts believe this indicates that<span style=\"color:rgba(236,31,15,1);\"><b>If the latest earnings and guidance meet or even exceed market expectations, it would be an excellent opportunity for long-term investors to buy the company's stock at a reasonable valuation.</b></span><img src=\"https://static.tigerbbs.com/207b753f81610ea29fae2accce1ef43d\" tg-width=\"443\" tg-height=\"316\" referrerpolicy=\"no-referrer\"/><b>Wall Street is bullish, is Q1 secure?</b></p><p>Market expectations for Nvidia's first fiscal quarter remain high, with analysts expecting revenue and profit to grow by more than 40% year-on-year. However, the global chip shortage may affect Nvidia, as it is an upstream Fab (chip designer) and heavily reliant on the production capacity of wafer foundries. Last month, Nvidia indicated that it was increasing its efforts to replenish its inventory of graphics processing products (GPU products), suggesting that the worst of the company's chip shortage may be over.</p><p>Some analysts pointed out that while this is a good sign of sales growth, the average selling price (ASP) of the company's products may decrease due to declining demand, which could harm the company's profit margin figures, which have consistently amazed the market in the past. Analysts generally say,<b>We will closely monitor any signals from the latest quarterly earnings report regarding changes in the chip supply and demand balance.</b></p><p><b>According to Oppenheimer, Nvidia's first-quarter earnings report may be better than expected due to strong demand, with its data center business expected to grow by 75% year-over-year.</b></p><p>Oppenheimer analysts predict that,<span style=\"color:rgba(235,34,19,1);\">First-quarter earnings per share and sales will exceed Wall Street expectations of $1.30 and $8.1 billion, respectively.</span>The company expects,<span style=\"color:rgba(242,34,18,1);\">Earnings per share and sales for the second fiscal quarter will exceed market consensus expectations of $1.36 and $8.4 billion, respectively.</span></p><p>Oppenheimer stated that supply chain constraints should ease in the second half of this year, which is expected to drive up performance. “Our long-term argument remains unchanged, as Nvidia’s core leading gaming and AI strengths will remain poised for massive structural growth,” the analyst said. “We remain bullish on Nvidia in the long term.”</p><p>Oppenheimer lowered his price target for Nvidia from $350 to $300, while reiterating its outperform rating. The new target price shows that,<b>Nvidia's stock price has 77% upside potential.</b></p><p>Of the 44 analysts surveyed by Seeking Alpha, 27 gave them a \"strong buy\" rating. Eight other companies marked it as a \"buy\". Meanwhile, only one analyst listed Nvidia as \"sell,\" while eight other analysts listed it as \"hold.\"<img src=\"https://static.tigerbbs.com/7095d79d9ef83e42e91f4456852ad50b\" tg-width=\"827\" tg-height=\"214\" referrerpolicy=\"no-referrer\"/>The article concludes by pouring cold water on investors who are optimistic about Nvidia.<b>If market risk appetite continues to decline, coupled with the latest earnings report disappointing the market, the stock's $165 support level could be broken, and it could fall further towards $150 or even slide further near the low of May 2021.</b></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/92a41d20711c9fa4b2aa3cc62ea62948","relate_stocks":{"NVDA":"英伟达"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2237286827","content_text":"英伟达计划于美东时间5月25日美股收盘后公布截至4月30日的2023财年Q1业绩。在上一季度财报中,英伟达预估本季度(2023财年Q1)营收为81.0亿美元(上下波动2%),高于预期72.2亿美元;预估第一季度调整后的毛利率为67.0%(上下波动0.5%);预计调整后的运营支出为16.0亿美元,高于预期值14.6亿美元。目前市场普遍预计,该公司Q1总营收为80.9亿美元,每股收益(EPS)为1.29美元,相比之下,上年同期总营收为56.6亿美元,每股收益为0.92美元。从历史数据来看,英伟达总营收与EPS已连续12个季度超出市场预期。市值腰斩,英伟达能“抄底”吗?英伟达去年11月曾触及346.47美元的历史高位,因需求旺盛和全球芯片短缺引发市场对该股的兴趣。自那以来,对经济放缓和加息前景的担忧一直令股价承压,与去年年底创下的历史高点相比,目前该股已下跌近50%,仅今年以来就下跌了40%。从估值看,逐渐合理估值方面,英伟达仍比规模相对其较小的竞争对手拥有“同类最佳”溢价。从预期市盈率来看,英伟达该项数值仍为30x,相比之下,其竞争对手AMD为22x预期市盈率,其他竞争对手预期市盈率同样相对较低,德州仪器为19x、英特尔为12x、高通为10x,美光科技为6x。目前,英伟达股票1年期估值已明显低于均值水平,处于1年期的最低水平区域。有分析人士认为,这表明,如果最新业绩和业绩指引能够持平甚至超过市场预期,那么这将是长期投资者以合理估值买入该公司股票的绝佳时机。华尔街看多,Q1稳了?市场对英伟达第一财季的预期仍然较高,分析师们预计营收和利润将同比增长40%以上,但是,全球芯片短缺可能将波及英伟达,毕竟英伟达属于上游Fab(芯片设计商),非常依赖晶圆代工厂的产能。在上个月,英伟达曾指出,其正在加大力度补充图形处理产品(GPU产品)库存,暗示该公司芯片短缺最严重的时期可能已经过去。有分析师指出,虽然这是销售额增长的好兆头,但公司旗下产品的平均销售价格(ASP)可能因需求有所下滑而降低,并可能损害该公司过去持续令市场惊艳的利润率数值。分析师普遍表示,将密切关注最新季度业绩报告中有关任何芯片供需平衡发生变化的信号。机构奥本海默表示,由于需求强劲,英伟达第一季度财报可能好于预期,其数据中心业务预计同比增长75%。奥本海默分析师预计,第一财季每股收益和销售额将分别超过华尔街预期的1.30美元和81亿美元。该公司预计,第二财季每股收益和销售额将分别超过市场普遍预期的 1.36 美元和 84 亿美元。奥本海默表示,供应链限制应该会在今年下半年缓解,预计这将推动业绩上行。“我们的长期论点保持不变,因为英伟达的核心领先的游戏和 AI 优势仍将为超大的结构性增长做好准备,“分析师表示。” 我们仍长期看多英伟达。“奥本海默将英伟达的目标价从 350 美元下调至 300 美元,同时重申其表现优于大盘的评级。新的目标价显示,英伟达的股价有 77%的上行空间。在Seeking Alpha调查的44位分析师中,有27位给出了“强烈买入”的评级。另有8家公司将其标记为“购买”。与此同时,只有一名分析师将英伟达列为“卖出”,另有八名分析师将其列为“持有”。文末,在给看好英伟达的投资者“泼盆冷水”,如果市场风险偏好继续下行,加上最新财报令市场感到失望,可能导致该股165美元支撑水平被打破,并有可能进一步跌向150美元甚至有可能进一步滑向2021年5月低点附近。","news_type":1,"symbols_score_info":{"NVDA":1}},"isVote":1,"tweetType":1,"viewCount":5870,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9026991736,"gmtCreate":1653310153325,"gmtModify":1676535257559,"author":{"id":"4090282032864880","authorId":"4090282032864880","name":"pkl","avatar":"https://static.tigerbbs.com/1e774fafbe3985365e6e79f4f083da4a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090282032864880","idStr":"4090282032864880"},"themes":[],"title":"","htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9026991736","repostId":"1101749478","repostType":4,"isVote":1,"tweetType":1,"viewCount":4271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9026991880,"gmtCreate":1653310078140,"gmtModify":1676535257512,"author":{"id":"4090282032864880","authorId":"4090282032864880","name":"pkl","avatar":"https://static.tigerbbs.com/1e774fafbe3985365e6e79f4f083da4a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090282032864880","idStr":"4090282032864880"},"themes":[],"title":"","htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9026991880","repostId":"1115112944","repostType":4,"repost":{"id":"1115112944","kind":"news","pubTimestamp":1653306175,"share":"https://ttm.financial/m/news/1115112944?lang=en_US&edition=fundamental","pubTime":"2022-05-23 19:42","market":"us","language":"zh","title":"With steady revenue and persistent premiums, will Zoom continue to cut losses?","url":"https://stock-news.laohu8.com/highlight/detail?id=1115112944","media":"华尔街大事件","summary":"概括:ZM股票从2020年10月的高点急剧下跌,但其仍具有显著的增长溢价。尽管溢价需要消化,但市场并未给Zoom投资者任何喘息的机会。我们将评级从买入调整为卖出,估计在达到显著底部之前可能存在27%的","content":"<p><html><head></head><body><b>Summary:</b>ZM stock has fallen sharply from its October 2020 high, but it still has a significant growth premium. Although the premium needs to be absorbed, the market has not given it.<a href=\"https://laohu8.com/S/ZM\">Zoom</a>Investors have no chance to catch their breath. We revised our rating from buy to sell, estimating that there could be 27% potential downside before reaching a significant bottom. We highlighted in a previous article that the Zoom Video (ZM) bubble has burst. However, we find it interesting that the market continues to digest its valuation, even though it is profitable under GAAP.</p><p>Furthermore, the most conservative price target of $100 does not protect ZM stock from further price declines.</p><p>We re-examined our paper to try to understand why the market remained so brutal despite the sell-off in ZM stock being GAAP profitable. At that time, we realized that the market might be pricing the stock below expected earnings per share growth, while the stock was still priced at a premium.</p><p>The market is continuing to digest its growth premium during a slow distribution process, dragging down bargain buying before further declines.</p><p>Therefore, we believe the sell-off in ZM shares may continue. Despite possessing massive cash reserves of over $5.4 billion (approximately 21% of its market capitalization), ZM investors have not been given any respite since October 2020.</p><p>Finally, we revised our rating on ZM stock from buy to sell. Given the significant normalization of ZM's earnings per share growth, we suspect that the current allocation process is intended to make ZM's stock valuation more in line with the normalization of the overall market.</p><p><b>ZM shares are still priced at a premium.</b></p><p>Zoom's median P/E is 15.6 times, significantly lower than its 10-year median of 17.7 times. Therefore, it is clear that the market is pricing in a slowdown in Zoom's future growth, a situation exacerbated by aggressive rate hike and rising inflation.</p><p><img src=\"https://static.tigerbbs.com/543e27cd21bea297034626ff1a6e9730\" tg-width=\"554\" tg-height=\"332\" referrerpolicy=\"no-referrer\"/></p><p>ZM Stock NTM Standardized P/E and NTM FCF Yield</p><p>It is worth noting that ZM shares last traded at 23.67 times the NTM Standardized P/E.<b>Therefore, ZM still has a significant growth premium, although its earnings growth may decline significantly in the coming years.</b></p><p>We believe that the market's pricing for fiscal year 2023 is lower than management's guidance in the fourth quarter.</p><p>Zoom's guidance for the most recent quarter was $1.07 billion, and its upcoming FQ1'23 earnings card rose 11.9% (compared to the generally expected $10.73, up 12.3% year-over-year).</p><p>In addition, management guided FY23 revenue to be $4.54 billion, a year-over-year increase of 10.7%, in line with market expectations.</p><p><img src=\"https://static.tigerbbs.com/a203f730936df773281837cec135f3ba\" tg-width=\"554\" tg-height=\"343\" referrerpolicy=\"no-referrer\"/></p><p>Zoom Revenue Consensus Estimate (S&P Capital IQ)</p><p><img src=\"https://static.tigerbbs.com/dc080fbc8680762c511d850c75a4b492\" tg-width=\"554\" tg-height=\"343\" referrerpolicy=\"no-referrer\"/></p><p>Zoom GAAP EPS Consensus Estimate (S&P Capital IQ)</p><p><b>However, we believe that management and Wall Street may have underestimated the extent of the recovery in business travel.</b>We believe that Zoom's argument is undoubtedly still relevant. However, being able to accurately predict the growth rate of its reopening remains a major challenge.</p><p>Bloomberg reports that as the economy reopens to travelers, businesses believe the global travel recovery is stronger than expected. For example, FCM Travel emphasizes: \"Business growth is 80% of what it was in 2019, and in some places it has exceeded pre-pandemic levels. Its return is much stronger than anyone expected.\"</p><p>Therefore, we are concerned that management may miss its guidance for FY23, which will impact its GAAP earnings per share.</p><p>Wall Street consensus estimates suggest that Zoom's earnings per share in fiscal year 2023 could decline by 60% year-over-year before rebounding in fiscal year 2023.</p><p><b>Therefore, ZM stock needs to digest its pandemic bubble growth before it can find a bottom. However, if Zoom lowers its revenue guidance for fiscal year 2023 or even fiscal year 2024, its earnings per share estimates are at risk of being further reduced.</b></p><p><b>epilogue</b></p><p>We believe the market has been pricing Zoom's FY23 guidance. It is worth noting that we did not observe market makers urgently dumping their chips.</p><p>Instead, as shown in the figure, they were simply a slow, deliberate distribution that kept holders losing money for the past two years.</p><p><img src=\"https://static.tigerbbs.com/f1ca1aad9c8fa81c8e22880023ace78a\" tg-width=\"554\" tg-height=\"308\" referrerpolicy=\"no-referrer\"/></p><p>ZM Stock Chart (TradingView)</p><p>Although ZM shares have fallen sharply from their October 2020 high, they are still trading at a premium.</p><p>Therefore, we believe that it may continue to show a downward trend thereafter to normalize its valuation. A more reasonable P/E would be around 17 times, which means Zoom still has 27.4% potential downside. Therefore, we adjusted our rating on ZM stock from buy to sell.</p><p></body></html></p>","source":"lsy1643368503284","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>With steady revenue and persistent premiums, will Zoom continue to cut losses?</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: 12.5px; color: #7E829C; margin: 0;}\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\">\nWith steady revenue and persistent premiums, will Zoom continue to cut losses?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街大事件</strong><span class=\"h-time small\">2022-05-23 19:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>Summary:</b>ZM stock has fallen sharply from its October 2020 high, but it still has a significant growth premium. Although the premium needs to be absorbed, the market has not given it.<a href=\"https://laohu8.com/S/ZM\">Zoom</a>Investors have no chance to catch their breath. We revised our rating from buy to sell, estimating that there could be 27% potential downside before reaching a significant bottom. We highlighted in a previous article that the Zoom Video (ZM) bubble has burst. However, we find it interesting that the market continues to digest its valuation, even though it is profitable under GAAP.</p><p>Furthermore, the most conservative price target of $100 does not protect ZM stock from further price declines.</p><p>We re-examined our paper to try to understand why the market remained so brutal despite the sell-off in ZM stock being GAAP profitable. At that time, we realized that the market might be pricing the stock below expected earnings per share growth, while the stock was still priced at a premium.</p><p>The market is continuing to digest its growth premium during a slow distribution process, dragging down bargain buying before further declines.</p><p>Therefore, we believe the sell-off in ZM shares may continue. Despite possessing massive cash reserves of over $5.4 billion (approximately 21% of its market capitalization), ZM investors have not been given any respite since October 2020.</p><p>Finally, we revised our rating on ZM stock from buy to sell. Given the significant normalization of ZM's earnings per share growth, we suspect that the current allocation process is intended to make ZM's stock valuation more in line with the normalization of the overall market.</p><p><b>ZM shares are still priced at a premium.</b></p><p>Zoom's median P/E is 15.6 times, significantly lower than its 10-year median of 17.7 times. Therefore, it is clear that the market is pricing in a slowdown in Zoom's future growth, a situation exacerbated by aggressive rate hike and rising inflation.</p><p><img src=\"https://static.tigerbbs.com/543e27cd21bea297034626ff1a6e9730\" tg-width=\"554\" tg-height=\"332\" referrerpolicy=\"no-referrer\"/></p><p>ZM Stock NTM Standardized P/E and NTM FCF Yield</p><p>It is worth noting that ZM shares last traded at 23.67 times the NTM Standardized P/E.<b>Therefore, ZM still has a significant growth premium, although its earnings growth may decline significantly in the coming years.</b></p><p>We believe that the market's pricing for fiscal year 2023 is lower than management's guidance in the fourth quarter.</p><p>Zoom's guidance for the most recent quarter was $1.07 billion, and its upcoming FQ1'23 earnings card rose 11.9% (compared to the generally expected $10.73, up 12.3% year-over-year).</p><p>In addition, management guided FY23 revenue to be $4.54 billion, a year-over-year increase of 10.7%, in line with market expectations.</p><p><img src=\"https://static.tigerbbs.com/a203f730936df773281837cec135f3ba\" tg-width=\"554\" tg-height=\"343\" referrerpolicy=\"no-referrer\"/></p><p>Zoom Revenue Consensus Estimate (S&P Capital IQ)</p><p><img src=\"https://static.tigerbbs.com/dc080fbc8680762c511d850c75a4b492\" tg-width=\"554\" tg-height=\"343\" referrerpolicy=\"no-referrer\"/></p><p>Zoom GAAP EPS Consensus Estimate (S&P Capital IQ)</p><p><b>However, we believe that management and Wall Street may have underestimated the extent of the recovery in business travel.</b>We believe that Zoom's argument is undoubtedly still relevant. However, being able to accurately predict the growth rate of its reopening remains a major challenge.</p><p>Bloomberg reports that as the economy reopens to travelers, businesses believe the global travel recovery is stronger than expected. For example, FCM Travel emphasizes: \"Business growth is 80% of what it was in 2019, and in some places it has exceeded pre-pandemic levels. Its return is much stronger than anyone expected.\"</p><p>Therefore, we are concerned that management may miss its guidance for FY23, which will impact its GAAP earnings per share.</p><p>Wall Street consensus estimates suggest that Zoom's earnings per share in fiscal year 2023 could decline by 60% year-over-year before rebounding in fiscal year 2023.</p><p><b>Therefore, ZM stock needs to digest its pandemic bubble growth before it can find a bottom. However, if Zoom lowers its revenue guidance for fiscal year 2023 or even fiscal year 2024, its earnings per share estimates are at risk of being further reduced.</b></p><p><b>epilogue</b></p><p>We believe the market has been pricing Zoom's FY23 guidance. It is worth noting that we did not observe market makers urgently dumping their chips.</p><p>Instead, as shown in the figure, they were simply a slow, deliberate distribution that kept holders losing money for the past two years.</p><p><img src=\"https://static.tigerbbs.com/f1ca1aad9c8fa81c8e22880023ace78a\" tg-width=\"554\" tg-height=\"308\" referrerpolicy=\"no-referrer\"/></p><p>ZM Stock Chart (TradingView)</p><p>Although ZM shares have fallen sharply from their October 2020 high, they are still trading at a premium.</p><p>Therefore, we believe that it may continue to show a downward trend thereafter to normalize its valuation. A more reasonable P/E would be around 17 times, which means Zoom still has 27.4% potential downside. Therefore, we adjusted our rating on ZM stock from buy to sell.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source:<a href=\"https://mp.weixin.qq.com/s/bhMOrKwTsJc-v8zTd9WhQg\">华尔街大事件</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/68ecabaf0839ef091b4b154187e60fd4","relate_stocks":{"ZM":"Zoom"},"source_url":"https://mp.weixin.qq.com/s/bhMOrKwTsJc-v8zTd9WhQg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115112944","content_text":"概括:ZM股票从2020年10月的高点急剧下跌,但其仍具有显著的增长溢价。尽管溢价需要消化,但市场并未给Zoom投资者任何喘息的机会。我们将评级从买入调整为卖出,估计在达到显著底部之前可能存在27%的潜在下行空间。我们在之前的文章中强调了Zoom Video(ZM)的泡沫已经破裂。然而,我们发现有趣的是市场继续消化其估值,尽管其按公认会计准则计算是有利可图的。此外,100美元的最保守价格目标并不能保护ZM股票免受进一步价格下跌的影响。我们重新审视了我们的论文,试图了解为什么尽管ZM股票的抛售具有 GAAP盈利能力,但市场仍然如此残酷。那时我们意识到市场的定价可能低于预期的每股收益增长,而该股的定价仍处于溢价状态。市场正在缓慢的分销过程中继续消化其增长溢价,在进一步下跌之前拖累了逢低买盘。因此,我们认为ZM股票的抛售可能会进一步持续。尽管拥有超过54亿美元的巨额现金储备(约占其市值的21%),但自2020年10月以来,ZM投资者一直没有得到任何喘息的机会。最后,我们将 ZM 股票的评级从买入调整为卖出。鉴于ZM的每股收益增长显著正常化,我们怀疑当前的分配过程旨在使ZM股票估值更符合整体市场的正常化。ZM股票仍处于溢价定价Zoom的市盈率中值为15.6倍,明显低于其10年中值17.7倍。因此,很明显,市场正在为Zoom未来的增长放缓定价,激进的加息和通胀加剧加剧了这种情况。ZM股票NTM标准化P/E和NTM FCF收益率值得注意的是,ZM股票的最后交易价格为23.67倍的NTM标准化市盈率。因此,ZM仍有显著的增长溢价,尽管其盈利增长在未来几年可能会显著下降。我们认为,市场对23财年的定价低于管理层在第四季度的指导。Zoom最近一季的指引为 10.7亿美元,其即将推出的FQ1'23收益卡上涨11.9%(与普遍预期的10.73美元相比,同比上涨12.3%)。此外,管理层指导FY23收入为45.4亿美元,同比增长10.7%,符合市场普遍预期。Zoom收入共识估计(S&P Capital IQ)Zoom GAAP EPS共识估计(S&P Capital IQ)然而,我们认为管理层和华尔街可能低估了商务旅行的复苏程度。我们相信,Zoom 的论点毫无疑问仍然具有相关性。但是,能够准确预测其重新开放的增长率仍然是一项重大挑战。彭博社报道称,随着经济重新向旅行者开放,企业认为全球旅行复苏比预期更加强劲。例如,FCM Travel强调:“业务增长速度是 2019 年的 80%,并且在某些地方已经超过了大流行前的水平。它的回归比任何人预期的都要强大得多。”因此,我们担心管理层可能会错过其对 23 财年的指导,这将影响其 GAAP 每股收益。华尔街的共识估计表明,Zoom 的 23 财年每股收益可能会同比下降 60%,然后在 23 财年反弹。因此,ZM 股票需要消化其大流行的泡沫增长才能找到底部。但是,如果 Zoom 将 23 财年甚至 24 财年的收入下调,其每股收益估计将面临进一步下调的风险。结语我们认为市场一直在定价 Zoom 的23 财年的指引。值得注意的是,我们没有观察到做市商迫切地抛出筹码。相反,如图所示,它们只是缓慢的、蓄意的分发,在过去两年中让持有者持续亏损。ZM股价走势图(TradingView)尽管ZM股票从2020年10月的高点大幅下跌,但其交易价格仍处于溢价状态。因此,我们认为随后可能会持续呈现下跌趋势以使其估值正常化。更合理的市盈率将在17倍左右,这意味着Zoom仍有27.4%的潜在下行空间。所以,我们将ZM股票的评级从买入调整为卖出。","news_type":1,"symbols_score_info":{"ZM":0.9}},"isVote":1,"tweetType":1,"viewCount":4953,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9026991102,"gmtCreate":1653310058106,"gmtModify":1676535257513,"author":{"id":"4090282032864880","authorId":"4090282032864880","name":"pkl","avatar":"https://static.tigerbbs.com/1e774fafbe3985365e6e79f4f083da4a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090282032864880","idStr":"4090282032864880"},"themes":[],"title":"","htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9026991102","repostId":"1126290013","repostType":4,"isVote":1,"tweetType":1,"viewCount":5128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9026991917,"gmtCreate":1653310038939,"gmtModify":1676535257505,"author":{"id":"4090282032864880","authorId":"4090282032864880","name":"pkl","avatar":"https://static.tigerbbs.com/1e774fafbe3985365e6e79f4f083da4a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090282032864880","idStr":"4090282032864880"},"themes":[],"title":"","htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9026991917","repostId":"1164195300","repostType":4,"repost":{"id":"1164195300","kind":"news","weMediaInfo":{"introduction":"格隆汇旗下公众号。分享和探讨港股、美国中概股以及少量估值确有吸引力之A股的投资线索、投资机会与投资心得.","home_visible":1,"media_name":"格隆汇投资学苑","id":"3","head_image":"https://static.tigerbbs.com/5d7d04eb4f16b0013ed2c39f71b84b6c"},"pubTimestamp":1653306799,"share":"https://ttm.financial/m/news/1164195300?lang=en_US&edition=fundamental","pubTime":"2022-05-23 19:53","market":"us","language":"zh","title":"Apple, Microsoft, Google, Amazon: The Performance Dilemma of the Giants","url":"https://stock-news.laohu8.com/highlight/detail?id=1164195300","media":"格隆汇投资学苑","summary":"01 近期的大跌在交易什么?纳斯达克100指数(QQQ)年初至今已回撤28%,陷入熊市水平。最近更是弱得很彻底,几次反弹都仅持续一天,比如上周二,上上周五。这都是在交易什么呢?答案很直观:衰退。去年底","content":"<p><html><head></head><body><b>01 What is being traded during the recent sharp drop?</b></p><p><img src=\"https://static.tigerbbs.com/af8edd95d8668cffdcd24c533f4bd9b1\" tg-width=\"1080\" tg-height=\"575\" referrerpolicy=\"no-referrer\"/></p><p>The Nasdaq 100 Index (QQQ) has pullback/retracement 28% year-to-date, entering a bear market. Recently, it has been completely weak, with several rebounds lasting only one day, such as last Tuesday and the Friday before last. What are they trading? The answer is straightforward: recession.</p><p>Starting late last year, the Federal Reserve shifted its policy to address the highest inflation levels in decades. In this process, the magnitude and expectations of rate hike have been further increased. For a considerable period last month, the market even believed that a single rate hike of 75 basis points was a relatively high probability.</p><p>Of course, Powell has basically ruled out this claim. rate hike now expects the benchmark interest rate to reach 2.75% by the end of the year, a figure that has remained largely unchanged since May. The benchmark interest rate is expected to be less than 3% by the end of 2023, compared to around 3.25% last month (reflecting two rate hike next year).</p><p><img src=\"https://static.tigerbbs.com/ba9c1808c4381b077a7d4307844e3154\" tg-width=\"1080\" tg-height=\"743\" referrerpolicy=\"no-referrer\"/></p><p>This reflects the Federal Reserve's \"rate hike forward\" strategy, which increases rate hike in order to quickly lower inflation and achieve a soft landing. However, with the release of the company's performance and guidance,<b>The market is increasingly worried that a hard landing (recession) is highly likely this time; the only question is how much the recession can be controlled.</b>。 This is also evident in the trend of the bond market – the 10-year Treasury Bond yield fell from a high of 3.2% to 2.79% in two weeks, a drop of 41 basis points.</p><p><img src=\"https://static.tigerbbs.com/9845e1d0cee2152e0ac94ad55d280e82\" tg-width=\"1080\" tg-height=\"747\" referrerpolicy=\"no-referrer\"/></p><p><b>02 Giant Performance</b></p><p><b>1. Apple</b></p><p>Revenue and EPS both exceeded expectations: Operating revenue was 97.278 billion yuan, a year-on-year increase of 8.59%, compared to expectations of 93.98 billion yuan, exceeding expectations by 3.5%; EPS was 1.52, up 8.57% year-on-year, exceeding expectations of $1.43 and exceeding expectations of 6.3%. EPS significantly exceeded expectations by more than revenue, which clearly demonstrates Apple's excellent profit control level (supply chain management, internal management, investment, etc.). In addition, this is also due to Apple's consistently strong brand awareness and pricing power.</p><p><img src=\"https://static.tigerbbs.com/24103c67c78d8d0612329937bca3afe4\" tg-width=\"1053\" tg-height=\"633\" referrerpolicy=\"no-referrer\"/></p><p>During the conference call, CEO Tim Cook stated that he could not remain unaffected by the COVID-19 pandemic, supply chain disruptions, and the Russia-Ukraine war. Q2 revenue may decrease by $4-8 billion year-over-year due to these impacts.</p><p>In other words, Apple's performance itself is good, but its future outlook is pessimistic. More worryingly, given the high probability of a recession, Apple's valuation is still too high.</p><p><img src=\"https://static.tigerbbs.com/22dda42b06fae51c62bc1e062713484d\" tg-width=\"1080\" tg-height=\"747\" referrerpolicy=\"no-referrer\"/></p><p>As of May 19, Apple's NTM PE ratio was 23x, down from a low of approximately 18x in March 2020. In 2018, due to the combined effects of the economic cycle and product cycle (the XS generation underperformed, while Huawei's high-end products rose), the valuation dropped even lower (12x the low). The current situation is that the impact of the product cycle is relatively small, but a valuation of 20x is not excessive (MR cannot be counted on for the time being, and car manufacturing is even more uncertain), which means a downside potential of about 15%.</p><p><b>2. Microsoft</b></p><p>The performance will not be updated frequently; there are basically no blind spots, highlighting the stability of the established empire. You can refer to GS's model and target price for Microsoft.</p><p><img src=\"https://static.tigerbbs.com/c5b96246b3e6b476b64d1c2bdfeb49be\" tg-width=\"1080\" tg-height=\"745\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/634305503529e18ad43ef706772ec8f9\" tg-width=\"1080\" tg-height=\"746\" referrerpolicy=\"no-referrer\"/></p><p>As of May 19, Microsoft's NTM PE ratio was 24.8x, compared to a low of 23.3x in March 2020 and around 21x at the end of 2018. Based on the low point in March 2020, the valuation decline is around 6%, which is not very large.</p><p><b>3. Google</b></p><p>Revenue in line, EPS miss: Revenue of 68.01 billion yuan, +23% year-on-year, exceeding expectations of 67.98 billion yuan; EPS 24.62, -6.35% year-on-year, expected 25.71. Net profit was 16.44 billion yuan, down 8.3% year-on-year, compared to the expected 17.4 billion yuan.</p><p><img src=\"https://static.tigerbbs.com/f34073ee2f8b6ecad2713b16c4be71b0\" tg-width=\"1080\" tg-height=\"657\" referrerpolicy=\"no-referrer\"/></p><p>The cost side (gross profit margin and three expense ratios) is normal, and the marketing expense ratio has increased month-on-month, but it is basically the same as the same period last year. Operating profit was 20.09 billion yuan, up 22% year-on-year; The operating profit margin was 30%, higher than the expected 28.8%, indicating no major operational problems (the slowdown in growth was within market expectations). The year-on-year decline in net profit was mainly due to other income/expenses (securities investment) -1.16 billion yuan, compared with +4.85 billion yuan in the same period last year.</p><p><img src=\"https://static.tigerbbs.com/0ab463cc8e2aa42bae7bb27bc71f5f72\" tg-width=\"1080\" tg-height=\"657\" referrerpolicy=\"no-referrer\"/></p><p>Looking at the segmented business, search advertising grew by 24.3% year-on-year, but Youtube only grew by 14.4% year-on-year (market expectations were +23.2%). Reasons for Youtube's significant growth setback:<b>Competition from Tiktok, Apple's new privacy policy (advertising accuracy issues), inflation, and the spillover effects of the Russia-Ukraine conflict (mainly in Europe), with the first two having a more long-term impact.</b></p><p><img src=\"https://static.tigerbbs.com/52bf601b6c7cb1f83a1b1d35f062d839\" tg-width=\"832\" tg-height=\"453\" referrerpolicy=\"no-referrer\"/></p><p>NTMPE is 18.5x, which is the lowest level in 5 years, and the low point in March 2020 was about 20x. Judging from this valuation level, there is not much room for further decline (even in a traditional industry, this valuation is not expensive). Of course, there is a common saying in the industry: \"Don't buy tech stocks when they are cheap.\" This reflects the issue of the product life cycle, which is often more dangerous than the economic cycle.</p><p><b>4. Amazon</b></p><p>Performance this earnings season was very poor. Revenue was $116.4 billion, up 7.3% year-over-year, compared to an expected $125 billion. The guidance indicates Q2 revenue of $116 billion to $121 billion, lower than the market expectation of $125.5 billion. Based on the median guidance of 1185, this is 6% lower than expected. EPS -$7.56, +$8.40 expected. The guidance is for Q2 operating profit to be between -$1 billion and $3 billion.</p><p><img src=\"https://static.tigerbbs.com/e4e003fce051ec8c2c575d18952239bd\" tg-width=\"1080\" tg-height=\"636\" referrerpolicy=\"no-referrer\"/></p><p>Costs have generally increased slightly, but inflationary and supply chain pressures remain significant: Amazon charged sellers a 5% service fee for the first time this month and raised Prime prices from $119 to $139 last fiscal quarter. However, the operating profit margin still declined from 8.2% in the same period last year to 3.2%.</p><p><img src=\"https://static.tigerbbs.com/bdbbfdf82debd610381949c61d0e39a2\" tg-width=\"1080\" tg-height=\"638\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Free cash flow: $18.6 billion net outflow (past 12 months), compared to $26.4 billion net inflow in the same period last year. Behind this is a large investment in fulfillment infrastructure and the acquisition of MGM.</p><p>Note: Rivian's stock price fell by about 52% in Q1, reducing Amazon's market capitalization by $7.6 billion.</p><p><img src=\"https://static.tigerbbs.com/6c2b54121a3dd6d18bf0bfdfe5000c74\" tg-width=\"656\" tg-height=\"391\" referrerpolicy=\"no-referrer\"/></p><p>Amazon's FCF has declined significantly in recent quarters (acquisitions, investments, etc.), and its valuations are not very comparable. However, considering the overall decline in the consumer internet sector (with limited room for growth in e-commerce penetration), the stock price does not seem to have much support or elasticity.</p><p>I won't go into too much detail about Meta and Netflix. The disappointing performance in Q4 2021 clearly reflects that the product life cycle has reached the end. Although the valuation at this position is not expensive, it is difficult to make people want to buy the bottom. Both Tesla and Nvidia are long-term stocks with short-term headwinds in their fundamentals, but their long-term growth prospects remain positive.</p><p><b>03 Supermarket financial report disappointment: Exacerbating stagflation/recession concerns</b></p><p>Supermarket stocks suffered a series of setbacks last week. Walmart, Target, and Ross Department Stores performed at -11%, -25%, and -22% respectively on the day of their earnings reports. For the traditionally stable consumer staples sector, the decline is practically devastating. The reasons are actually quite similar: they are too heavily affected by inflation. Let's look at Walmart --</p><p><img src=\"https://static.tigerbbs.com/ab7efb822f462481b294a17ac9c39128\" tg-width=\"1080\" tg-height=\"748\" referrerpolicy=\"no-referrer\"/></p><p>Actually, Walmart's revenue this quarter was not a big problem (141.57 billion vs. the expected 139.09 billion), the main issue was the EPS.</p><p>- Unexpected supply chain issues: oil prices and e-commerce fulfillment costs are too high;</p><p>- The shift in product mix towards daily groceries is putting pressure on gross margins;</p><p>- General commodity prices fell by $100 million more than expected;</p><p>- Increased labor/management costs.</p><p>This means that Walmart has not passed on the pressure of inflation to consumers or upstream suppliers. According to management's guidance, EPS is expected to be -1% year-on-year this year, meaning that Walmart will continue to face cost pressures.</p><p><b>04 Summary</b></p><p>This quarter's results and guidance seem to be harbingers of stagflation and recession, but the economy itself is a series of cycles; with prosperity comes troughs, so there is no need to be overly pessimistic. We are currently in the middle of a recession narrative, and no one can predict where we will fall or what new ghost stories will emerge. But we might as well take this opportunity to deepen our research and reflection, since few people do this when things are going well.</p><p></body></html></p>","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, Microsoft, Google, Amazon: The Performance Dilemma of the Giants</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: 12.5px; color: #7E829C; margin: 0;}\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, Microsoft, Google, Amazon: The Performance Dilemma of the Giants\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/3\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/5d7d04eb4f16b0013ed2c39f71b84b6c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">格隆汇投资学苑 </p>\n<p class=\"h-time smaller\">2022-05-23 19:53</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>01 What is being traded during the recent sharp drop?</b></p><p><img src=\"https://static.tigerbbs.com/af8edd95d8668cffdcd24c533f4bd9b1\" tg-width=\"1080\" tg-height=\"575\" referrerpolicy=\"no-referrer\"/></p><p>The Nasdaq 100 Index (QQQ) has pullback/retracement 28% year-to-date, entering a bear market. Recently, it has been completely weak, with several rebounds lasting only one day, such as last Tuesday and the Friday before last. What are they trading? The answer is straightforward: recession.</p><p>Starting late last year, the Federal Reserve shifted its policy to address the highest inflation levels in decades. In this process, the magnitude and expectations of rate hike have been further increased. For a considerable period last month, the market even believed that a single rate hike of 75 basis points was a relatively high probability.</p><p>Of course, Powell has basically ruled out this claim. rate hike now expects the benchmark interest rate to reach 2.75% by the end of the year, a figure that has remained largely unchanged since May. The benchmark interest rate is expected to be less than 3% by the end of 2023, compared to around 3.25% last month (reflecting two rate hike next year).</p><p><img src=\"https://static.tigerbbs.com/ba9c1808c4381b077a7d4307844e3154\" tg-width=\"1080\" tg-height=\"743\" referrerpolicy=\"no-referrer\"/></p><p>This reflects the Federal Reserve's \"rate hike forward\" strategy, which increases rate hike in order to quickly lower inflation and achieve a soft landing. However, with the release of the company's performance and guidance,<b>The market is increasingly worried that a hard landing (recession) is highly likely this time; the only question is how much the recession can be controlled.</b>。 This is also evident in the trend of the bond market – the 10-year Treasury Bond yield fell from a high of 3.2% to 2.79% in two weeks, a drop of 41 basis points.</p><p><img src=\"https://static.tigerbbs.com/9845e1d0cee2152e0ac94ad55d280e82\" tg-width=\"1080\" tg-height=\"747\" referrerpolicy=\"no-referrer\"/></p><p><b>02 Giant Performance</b></p><p><b>1. Apple</b></p><p>Revenue and EPS both exceeded expectations: Operating revenue was 97.278 billion yuan, a year-on-year increase of 8.59%, compared to expectations of 93.98 billion yuan, exceeding expectations by 3.5%; EPS was 1.52, up 8.57% year-on-year, exceeding expectations of $1.43 and exceeding expectations of 6.3%. EPS significantly exceeded expectations by more than revenue, which clearly demonstrates Apple's excellent profit control level (supply chain management, internal management, investment, etc.). In addition, this is also due to Apple's consistently strong brand awareness and pricing power.</p><p><img src=\"https://static.tigerbbs.com/24103c67c78d8d0612329937bca3afe4\" tg-width=\"1053\" tg-height=\"633\" referrerpolicy=\"no-referrer\"/></p><p>During the conference call, CEO Tim Cook stated that he could not remain unaffected by the COVID-19 pandemic, supply chain disruptions, and the Russia-Ukraine war. Q2 revenue may decrease by $4-8 billion year-over-year due to these impacts.</p><p>In other words, Apple's performance itself is good, but its future outlook is pessimistic. More worryingly, given the high probability of a recession, Apple's valuation is still too high.</p><p><img src=\"https://static.tigerbbs.com/22dda42b06fae51c62bc1e062713484d\" tg-width=\"1080\" tg-height=\"747\" referrerpolicy=\"no-referrer\"/></p><p>As of May 19, Apple's NTM PE ratio was 23x, down from a low of approximately 18x in March 2020. In 2018, due to the combined effects of the economic cycle and product cycle (the XS generation underperformed, while Huawei's high-end products rose), the valuation dropped even lower (12x the low). The current situation is that the impact of the product cycle is relatively small, but a valuation of 20x is not excessive (MR cannot be counted on for the time being, and car manufacturing is even more uncertain), which means a downside potential of about 15%.</p><p><b>2. Microsoft</b></p><p>The performance will not be updated frequently; there are basically no blind spots, highlighting the stability of the established empire. You can refer to GS's model and target price for Microsoft.</p><p><img src=\"https://static.tigerbbs.com/c5b96246b3e6b476b64d1c2bdfeb49be\" tg-width=\"1080\" tg-height=\"745\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/634305503529e18ad43ef706772ec8f9\" tg-width=\"1080\" tg-height=\"746\" referrerpolicy=\"no-referrer\"/></p><p>As of May 19, Microsoft's NTM PE ratio was 24.8x, compared to a low of 23.3x in March 2020 and around 21x at the end of 2018. Based on the low point in March 2020, the valuation decline is around 6%, which is not very large.</p><p><b>3. Google</b></p><p>Revenue in line, EPS miss: Revenue of 68.01 billion yuan, +23% year-on-year, exceeding expectations of 67.98 billion yuan; EPS 24.62, -6.35% year-on-year, expected 25.71. Net profit was 16.44 billion yuan, down 8.3% year-on-year, compared to the expected 17.4 billion yuan.</p><p><img src=\"https://static.tigerbbs.com/f34073ee2f8b6ecad2713b16c4be71b0\" tg-width=\"1080\" tg-height=\"657\" referrerpolicy=\"no-referrer\"/></p><p>The cost side (gross profit margin and three expense ratios) is normal, and the marketing expense ratio has increased month-on-month, but it is basically the same as the same period last year. Operating profit was 20.09 billion yuan, up 22% year-on-year; The operating profit margin was 30%, higher than the expected 28.8%, indicating no major operational problems (the slowdown in growth was within market expectations). The year-on-year decline in net profit was mainly due to other income/expenses (securities investment) -1.16 billion yuan, compared with +4.85 billion yuan in the same period last year.</p><p><img src=\"https://static.tigerbbs.com/0ab463cc8e2aa42bae7bb27bc71f5f72\" tg-width=\"1080\" tg-height=\"657\" referrerpolicy=\"no-referrer\"/></p><p>Looking at the segmented business, search advertising grew by 24.3% year-on-year, but Youtube only grew by 14.4% year-on-year (market expectations were +23.2%). Reasons for Youtube's significant growth setback:<b>Competition from Tiktok, Apple's new privacy policy (advertising accuracy issues), inflation, and the spillover effects of the Russia-Ukraine conflict (mainly in Europe), with the first two having a more long-term impact.</b></p><p><img src=\"https://static.tigerbbs.com/52bf601b6c7cb1f83a1b1d35f062d839\" tg-width=\"832\" tg-height=\"453\" referrerpolicy=\"no-referrer\"/></p><p>NTMPE is 18.5x, which is the lowest level in 5 years, and the low point in March 2020 was about 20x. Judging from this valuation level, there is not much room for further decline (even in a traditional industry, this valuation is not expensive). Of course, there is a common saying in the industry: \"Don't buy tech stocks when they are cheap.\" This reflects the issue of the product life cycle, which is often more dangerous than the economic cycle.</p><p><b>4. Amazon</b></p><p>Performance this earnings season was very poor. Revenue was $116.4 billion, up 7.3% year-over-year, compared to an expected $125 billion. The guidance indicates Q2 revenue of $116 billion to $121 billion, lower than the market expectation of $125.5 billion. Based on the median guidance of 1185, this is 6% lower than expected. EPS -$7.56, +$8.40 expected. The guidance is for Q2 operating profit to be between -$1 billion and $3 billion.</p><p><img src=\"https://static.tigerbbs.com/e4e003fce051ec8c2c575d18952239bd\" tg-width=\"1080\" tg-height=\"636\" referrerpolicy=\"no-referrer\"/></p><p>Costs have generally increased slightly, but inflationary and supply chain pressures remain significant: Amazon charged sellers a 5% service fee for the first time this month and raised Prime prices from $119 to $139 last fiscal quarter. However, the operating profit margin still declined from 8.2% in the same period last year to 3.2%.</p><p><img src=\"https://static.tigerbbs.com/bdbbfdf82debd610381949c61d0e39a2\" tg-width=\"1080\" tg-height=\"638\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Free cash flow: $18.6 billion net outflow (past 12 months), compared to $26.4 billion net inflow in the same period last year. Behind this is a large investment in fulfillment infrastructure and the acquisition of MGM.</p><p>Note: Rivian's stock price fell by about 52% in Q1, reducing Amazon's market capitalization by $7.6 billion.</p><p><img src=\"https://static.tigerbbs.com/6c2b54121a3dd6d18bf0bfdfe5000c74\" tg-width=\"656\" tg-height=\"391\" referrerpolicy=\"no-referrer\"/></p><p>Amazon's FCF has declined significantly in recent quarters (acquisitions, investments, etc.), and its valuations are not very comparable. However, considering the overall decline in the consumer internet sector (with limited room for growth in e-commerce penetration), the stock price does not seem to have much support or elasticity.</p><p>I won't go into too much detail about Meta and Netflix. The disappointing performance in Q4 2021 clearly reflects that the product life cycle has reached the end. Although the valuation at this position is not expensive, it is difficult to make people want to buy the bottom. Both Tesla and Nvidia are long-term stocks with short-term headwinds in their fundamentals, but their long-term growth prospects remain positive.</p><p><b>03 Supermarket financial report disappointment: Exacerbating stagflation/recession concerns</b></p><p>Supermarket stocks suffered a series of setbacks last week. Walmart, Target, and Ross Department Stores performed at -11%, -25%, and -22% respectively on the day of their earnings reports. For the traditionally stable consumer staples sector, the decline is practically devastating. The reasons are actually quite similar: they are too heavily affected by inflation. Let's look at Walmart --</p><p><img src=\"https://static.tigerbbs.com/ab7efb822f462481b294a17ac9c39128\" tg-width=\"1080\" tg-height=\"748\" referrerpolicy=\"no-referrer\"/></p><p>Actually, Walmart's revenue this quarter was not a big problem (141.57 billion vs. the expected 139.09 billion), the main issue was the EPS.</p><p>- Unexpected supply chain issues: oil prices and e-commerce fulfillment costs are too high;</p><p>- The shift in product mix towards daily groceries is putting pressure on gross margins;</p><p>- General commodity prices fell by $100 million more than expected;</p><p>- Increased labor/management costs.</p><p>This means that Walmart has not passed on the pressure of inflation to consumers or upstream suppliers. According to management's guidance, EPS is expected to be -1% year-on-year this year, meaning that Walmart will continue to face cost pressures.</p><p><b>04 Summary</b></p><p>This quarter's results and guidance seem to be harbingers of stagflation and recession, but the economy itself is a series of cycles; with prosperity comes troughs, so there is no need to be overly pessimistic. We are currently in the middle of a recession narrative, and no one can predict where we will fall or what new ghost stories will emerge. But we might as well take this opportunity to deepen our research and reflection, since few people do this when things are going well.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/418c8e44b0e296045dbb80704fbfa531","relate_stocks":{"MSFT":"微软","AMZN":"亚马逊","AAPL":"苹果","GOOGL":"谷歌A"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164195300","content_text":"01 近期的大跌在交易什么?纳斯达克100指数(QQQ)年初至今已回撤28%,陷入熊市水平。最近更是弱得很彻底,几次反弹都仅持续一天,比如上周二,上上周五。这都是在交易什么呢?答案很直观:衰退。去年底开始,美联储政策转向,以应对几十年来最高的通胀水平。在这个过程中又一路提升加息的幅度和预期,上个月有比较长一段时间市场甚至认为单次加息75个基点是比较大概率的事件。当然,这个说法基本被鲍威尔排除了,现在的加息预期是年底基准利率达到2.75%,这个数5月以来基本没有变过;到23年底基准利率预期为不到3%,上个月这个数基本在3.25%左右(反映明年加息2次)。这背后反映的是美联储“加息前置”的策略,加大加息幅度,以求迅速将通胀降下去,实现软着陆。但随着公司业绩及指引的发布,市场越来越担忧这次大概率得硬着陆了(衰退),只看衰退的幅度能控制在多少。这一点,从债市的走势也看得很明显——10年国债收益率2周时间从3.2%的高点跌至2.79%,跌幅达41个基点。02 巨头业绩1. 苹果营收和EPS双超预期:营业收入972.78亿,同比增长8.59%,预期939.8亿,超预期3.5%;EPS 1.52,同比增长8.57%,预期1.43美元,超预期6.3%。EPS超预期幅度显著大于营收,可以直观看出苹果的利润控制水平优秀(供应链管控,内部管理,投资etc.),另外背后也有苹果一直以来的强品牌心智和定价权。电话会议上CEO库克表示:无法在新冠肺炎疫情、供应链紊乱、俄乌战争期间独善其身。Q2收入可能因为这些影响同比减少40-80亿美元。也就是说苹果的业绩本身是不错的,但对于未来的预期偏悲观,更令人担忧的是,在衰退大概率成真的情况下,苹果的估值还是偏高——截止5月19日,苹果NTM PE 23x,20年3月低点约18x。18年由于经济周期和产品周期叠加影响(出的XS一代拉胯,华为高端崛起),估值杀得更低(低点12x)。现状是产品周期的影响比较小,但估值到20x也不过分(MR暂时指望不上,造车更悬),也就意味着15%左右的跌幅空间。2. 微软业绩就不多更新了,基本没有死角,突出老牌帝国的稳健。可以参考看看GS对于微软的模型以及目标价。截止5月19日,微软NTM PE 24.8x,20年3月低点23.3x,18年底21x左右。按20年3月低点对标,估值跌幅空间6%左右,已不太大。3. 谷歌营收in line,EPS miss:营收680.1亿,同比+23%,预期679.8亿;EPS24.62,同比-6.35%,预期25.71。净利润164.4亿,同比-8.3%,预期174亿。成本端(毛利率、三费率)正常,营销费用率环比有所提升,但是和去年同期基本一致。经营利润200.9亿,同比+22%;经营利润率30%,高于预期的28.8%,经营上问题不大(增速放缓在市场预期内)。净利润同比下降主要在其他收入/支出(证券投资)-11.6亿,去年同期+48.5亿。拆分业务来看,搜索广告同比+24.3%,但Youtube同比仅+14.4%(市场预期+23.2%)。Youtube增长大幅受挫的原因:Tiktok竞争、苹果隐私新政(广告精确度问题)、通胀、俄乌冲突外溢(主要为欧洲),其中前两个影响更为长期。NTMPE 18.5x,已是5年最低位,20年3月低点为约20x。从这个估值水平来看,进一步下杀的空间已经不大(就算当个传统行业来看,这个估值也不贵了)。当然,业内普遍有“不要在便宜的时候买科技股”的说法,这背后反映的是产品生命周期的问题,这个周期到的时候往往比经济周期更可怕。4. 亚马逊这个财报季业绩很差。营收1164.0亿美元,同比增长7.3%,预期1250亿美元。指引Q2营收1160亿-1210亿美元,低于市场预期的1255亿美元。按指引中值1185计,低于预期6%。EPS -7.56美元,预期+8.40美元。指引Q2运营利润在-10亿到30亿美元之间。各项成本基本小幅增长,通胀和供应链压力仍然不小:本月亚马逊首次向卖家征收5%服务费,并且上个财季将Prime价格从119美元提高至139美元。但经营利润率仍从去年同期8.2%下滑到3.2%。自由现金流:186亿美元净流出(过去12个月),去年同期264亿美元净流入。背后是大量投资履约基建,以及收购米高梅。注:Q1Rivian的股价下跌了约52%,令亚马逊所持市值减少76亿美元。亚马逊近几个季度FCF大幅下降(收购、投资等),估值没有太多可比性。不过考虑到消费互联网整体退潮(电商渗透率增长空间不大了),股价也似乎没有太多支撑或弹性。关于Meta和奈飞就不过多展开了,21Q4业绩的暴雷已明显反映出产品生命周期已到末端,这个位置虽然说估值也不贵,但很难让人想去捞底。特斯拉和英伟达都属于长久期,基本面短期逆风,但长期的增长前景仍然向好。03 商超财报暴雷:加剧滞胀/衰退担忧上周商超股连续暴雷。沃尔玛、塔吉特、罗斯百货,财报当天表现分别为-11%、-25%、-22%。对于历来稳健的必选消费板块来说,简直跌出了毁灭的感觉。原因其实都差不多,受通胀影响太重了。我们从沃尔玛来看——其实这季度沃尔玛营收问题不大(1415.7亿vs预期的1390.9亿),主要是EPS出了问题。- 超预期的供应链问题:油价和电商履约成本过高;- 产品组合转向日用杂货给毛利带来压力;- 一般性商品降价比预期多1亿美元;- 人工/管理成本上升。这也就意味着沃尔玛并没有将通胀的压力转嫁给消费者或上游供应商。从管理层的指引来看,今年EPS预期将同比-1%,也就是说沃尔玛会持续面临成本压力。04 小结这个季度的业绩和指引似乎都是滞胀和衰退前兆,但经济本身就是一个个周期,有繁荣就会有低谷,所以也不用过度悲观。目前我们处于衰退叙事的正中间段,谁也说不准会跌到哪,又会出什么新鬼故事,但不妨趁这个机会加深研究和反思,毕竟少有人在顺风顺水的时候做这个。","news_type":1,"symbols_score_info":{"MSFT":0.9,"AMZN":0.9,"AAPL":0.9,"GOOGL":0.9}},"isVote":1,"tweetType":1,"viewCount":4580,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9029511380,"gmtCreate":1652797619740,"gmtModify":1676535163590,"author":{"id":"4090282032864880","authorId":"4090282032864880","name":"pkl","avatar":"https://static.tigerbbs.com/1e774fafbe3985365e6e79f4f083da4a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090282032864880","idStr":"4090282032864880"},"themes":[],"title":"","htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9029511380","repostId":"1165989215","repostType":4,"isVote":1,"tweetType":1,"viewCount":4975,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9029513963,"gmtCreate":1652797531552,"gmtModify":1676535163566,"author":{"id":"4090282032864880","authorId":"4090282032864880","name":"pkl","avatar":"https://static.tigerbbs.com/1e774fafbe3985365e6e79f4f083da4a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090282032864880","idStr":"4090282032864880"},"themes":[],"title":"","htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9029513963","repostId":"1105191089","repostType":4,"repost":{"id":"1105191089","kind":"news","weMediaInfo":{"introduction":"中国大陆领先的金融数据、信息和软件服务企业,总部位于上海陆家嘴金融中心。","home_visible":1,"media_name":"Wind万得","id":"99","head_image":"https://static.tigerbbs.com/c71e30d1317b4a5cb20a41998e10ac68"},"pubTimestamp":1652758592,"share":"https://ttm.financial/m/news/1105191089?lang=en_US&edition=fundamental","pubTime":"2022-05-17 11:36","market":"us","language":"zh","title":"Who is the second Tesla? Soros bet heavily on this company","url":"https://stock-news.laohu8.com/highlight/detail?id=1105191089","media":"Wind万得","summary":"现在说起电动车,全球投资者头脑中浮现的第一个品牌基本都是特斯拉。随着电动车产业的发展,除特斯拉之外还有400多个大大小小的品牌,这其中一定会出现一家或几家可以和特斯拉相抗衡的企业,索罗斯就重金押注其中","content":"<p><html><head></head><body>When it comes to electric vehicles these days, the first brand that comes to mind for global investors is basically...<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>。 With the development of the electric vehicle industry, there are more than 400 brands of all sizes besides Tesla. Among them, there will inevitably be one or more companies that can compete with Tesla, and Soros is betting heavily on one of them.</p><p>With the development of the past decade or so, the electric vehicle market has become increasingly mature, and more and more brands have emerged. Tesla has consistently held the largest market share thanks to the best-selling Model 3 and Model Y. Its market share increased from 21% in 2017 to 28% in 2020, but declined to 26% last year.</p><p><img src=\"https://static.tigerbbs.com/49a0af26df2ce148f6c10ecf34f487ac\" tg-width=\"796\" tg-height=\"397\" referrerpolicy=\"no-referrer\"/></p><p>According to incomplete statistics, in the first quarter of 2022, a total of 417 electric vehicle models were sold in the global market, with 264 models produced in the Chinese market. With so many brands fiercely competing, it will be difficult for Tesla to maintain its leading edge indefinitely, and investment tycoons are also looking for \"the next Tesla\". Soros has always been fond of the American electric pickup truck brand Rivian.</p><p>According to the 13F holdings report disclosed last week, Rivian remains the largest holding of Soros's Quantum Fund, with approximately 19.84 million shares and a market value of approximately $997 million, accounting for 15.16% of the portfolio. Rivian was a new stock that George Soros established in the fourth quarter of last year. After establishing the position, it became his largest holding. By the first quarter of this year, the number of holdings had remained unchanged compared to the previous quarter, but its market value had shrunk significantly because Rivian had fallen by nearly 80% since the beginning of the year.</p><p><img src=\"https://static.tigerbbs.com/8570e93d4ecfa96dc6e387203f2bea3d\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>Soros not only heavily invested in Rivian stock, but judging from the changes in his holdings, the highest purchase in Q1 was Rivian's call options.</p><p>Founded in 2009, later than Tesla, Rivian is an American manufacturer of electric vehicles and autonomous driving technology. Unlike Tesla, Rivian chose a highly popular track in the United States from the very beginning – electric pickup trucks. Even before its IPO, Rivian was sought after by capital. In 2019 alone, Rivian conducted four rounds of financing, raising $2.85 billion. Its investors include<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>、<a href=\"https://laohu8.com/S/F\">Ford Motor</a>、<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>Well-known companies and institutions, including investors such as Amazon and BlackRock, have even participated in it multiple times. However, before its official launch, Rivian did not deliver a single truly mass-produced vehicle to ordinary users.</p><p>Although Soros holds a significant stake, Rivian's operating data is not impressive. The Q1 financial report shows that Rivian's revenue was $95 million, lower than the $131.2 million generally expected by the market. The company reported a net loss of $1.593 billion, compared to $414 million in the same period last year; Adjusted loss per share was $1.43, slightly better than the market expectation of $1.45. Rivian had previously halved its planned production for 2022 to 25,000 vehicles, just half of what the company had promised investors during its IPO roadshow last year.</p><p>Since production began in the third quarter of last year, Rivian had produced 1,015 vehicles and delivered 920 by the end of 2021. If production in the first quarter of this year is included, the total production reaches 3,568 vehicles.</p><p>Rivian's Normal, Illinois plant currently has an annual capacity of 150,000 vehicles, and the company says it plans to increase the plant's annual capacity to 200,000 vehicles by 2023. Rivian's other factory is scheduled to go into operation in 2024, eventually producing 400,000 vehicles and batteries annually.</p><p>Not only Soros is optimistic,<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>We also maintain our \"overweight\" rating on Rivian. Analyst Adam Jonas stated, \"After taking into account various adverse factors, even with the current overall stock market downturn, we believe the company's current stock price is still slightly low. Based on estimates, the current stock price is insufficient to reflect the company's annual sales forecast of 200,000 electric vehicles by 2030.\"</p><p></body></html></p>","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>Who is the second Tesla? Soros bet heavily on this company</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: 12.5px; color: #7E829C; margin: 0;}\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\">\nWho is the second Tesla? Soros bet heavily on this company\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/99\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/c71e30d1317b4a5cb20a41998e10ac68);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Wind万得 </p>\n<p class=\"h-time smaller\">2022-05-17 11:36</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>When it comes to electric vehicles these days, the first brand that comes to mind for global investors is basically...<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>。 With the development of the electric vehicle industry, there are more than 400 brands of all sizes besides Tesla. Among them, there will inevitably be one or more companies that can compete with Tesla, and Soros is betting heavily on one of them.</p><p>With the development of the past decade or so, the electric vehicle market has become increasingly mature, and more and more brands have emerged. Tesla has consistently held the largest market share thanks to the best-selling Model 3 and Model Y. Its market share increased from 21% in 2017 to 28% in 2020, but declined to 26% last year.</p><p><img src=\"https://static.tigerbbs.com/49a0af26df2ce148f6c10ecf34f487ac\" tg-width=\"796\" tg-height=\"397\" referrerpolicy=\"no-referrer\"/></p><p>According to incomplete statistics, in the first quarter of 2022, a total of 417 electric vehicle models were sold in the global market, with 264 models produced in the Chinese market. With so many brands fiercely competing, it will be difficult for Tesla to maintain its leading edge indefinitely, and investment tycoons are also looking for \"the next Tesla\". Soros has always been fond of the American electric pickup truck brand Rivian.</p><p>According to the 13F holdings report disclosed last week, Rivian remains the largest holding of Soros's Quantum Fund, with approximately 19.84 million shares and a market value of approximately $997 million, accounting for 15.16% of the portfolio. Rivian was a new stock that George Soros established in the fourth quarter of last year. After establishing the position, it became his largest holding. By the first quarter of this year, the number of holdings had remained unchanged compared to the previous quarter, but its market value had shrunk significantly because Rivian had fallen by nearly 80% since the beginning of the year.</p><p><img src=\"https://static.tigerbbs.com/8570e93d4ecfa96dc6e387203f2bea3d\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>Soros not only heavily invested in Rivian stock, but judging from the changes in his holdings, the highest purchase in Q1 was Rivian's call options.</p><p>Founded in 2009, later than Tesla, Rivian is an American manufacturer of electric vehicles and autonomous driving technology. Unlike Tesla, Rivian chose a highly popular track in the United States from the very beginning – electric pickup trucks. Even before its IPO, Rivian was sought after by capital. In 2019 alone, Rivian conducted four rounds of financing, raising $2.85 billion. Its investors include<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>、<a href=\"https://laohu8.com/S/F\">Ford Motor</a>、<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>Well-known companies and institutions, including investors such as Amazon and BlackRock, have even participated in it multiple times. However, before its official launch, Rivian did not deliver a single truly mass-produced vehicle to ordinary users.</p><p>Although Soros holds a significant stake, Rivian's operating data is not impressive. The Q1 financial report shows that Rivian's revenue was $95 million, lower than the $131.2 million generally expected by the market. The company reported a net loss of $1.593 billion, compared to $414 million in the same period last year; Adjusted loss per share was $1.43, slightly better than the market expectation of $1.45. Rivian had previously halved its planned production for 2022 to 25,000 vehicles, just half of what the company had promised investors during its IPO roadshow last year.</p><p>Since production began in the third quarter of last year, Rivian had produced 1,015 vehicles and delivered 920 by the end of 2021. If production in the first quarter of this year is included, the total production reaches 3,568 vehicles.</p><p>Rivian's Normal, Illinois plant currently has an annual capacity of 150,000 vehicles, and the company says it plans to increase the plant's annual capacity to 200,000 vehicles by 2023. Rivian's other factory is scheduled to go into operation in 2024, eventually producing 400,000 vehicles and batteries annually.</p><p>Not only Soros is optimistic,<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>We also maintain our \"overweight\" rating on Rivian. Analyst Adam Jonas stated, \"After taking into account various adverse factors, even with the current overall stock market downturn, we believe the company's current stock price is still slightly low. Based on estimates, the current stock price is insufficient to reflect the company's annual sales forecast of 200,000 electric vehicles by 2030.\"</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/845e27845a0aca10a09a5e12cdfb276e","relate_stocks":{"RIVN":"Rivian Automotive, Inc."},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105191089","content_text":"现在说起电动车,全球投资者头脑中浮现的第一个品牌基本都是特斯拉。随着电动车产业的发展,除特斯拉之外还有400多个大大小小的品牌,这其中一定会出现一家或几家可以和特斯拉相抗衡的企业,索罗斯就重金押注其中一个。随着近十几年的发展,电动车市场越来越成熟,涌现出的品牌也越来越多,特斯拉凭借着Model 3和Model Y的畅销一直占据市场最大销售份额。从2017年的21%提升到2020年的28%,去年其市场份额出现下滑,下降至26%。据不完全统计,2022年第一季度,全球市场共417种电动车型号在销售,中国市场产出了264款。这么多品牌厮杀,特斯拉很难一直保持领先优势,投资大佬也在寻找“下一个特斯拉”。索罗斯一直钟情于美国电动皮卡品牌Rivian。根据上周披露的13F持仓报告,索罗斯旗下量子基金第一大重仓股依然是Rivian,持仓约1984万股,持仓市值约9.97亿美元,占投资组合比例为15.16%。Rivian是索罗斯去年第四季度新建仓个股,建仓后即为第一重仓股,到今年一季度持仓数量环比无任何变化,但市值已大幅缩水,因为Rivian年初至今已下跌近80%。索罗斯不仅重仓Rivian个股,从持仓比例变化来看,Q1买入最高的是Rivian的看涨期权。Rivian成立于2009年,较特斯拉要晚,是美国的一家电动汽车和自动驾驶技术厂商。Rivian与特斯拉不同,其从一开始就选择了一条在美国极其讨喜的赛道——电动皮卡车。上市前,Rivian就受到资本追捧。仅在2019年,Rivian就进行了4轮融资,筹集到了28.5亿美元的资金。其投资方包括亚马逊、福特汽车、贝莱德等知名企业及机构,其中亚马逊、贝莱德等投资方甚至多次参与其中。不过,在正式上市前,Rivian没有一款真正意义上的量产车交付给普通用户。虽然索罗斯重仓,但Rivian的经营数据并不好看,Q1财报显示,Rivian营收为9500万美元,低于市场普遍预期的1.312亿美元;净亏损为15.93亿美元,上年同期为4.14亿美元;调整后每股亏损为1.43美元,略好于市场预期的1.45美元。此前Rivian将其2022年的计划产量削减了一半至2.5万辆,仅是该公司去年在IPO路演中向投资者承诺的一半。自去年第三季度开始生产以来,Rivian到2021年底已生产了1015辆汽车,交付了920辆。若加上今年第一季度的产量,总产量达到了3,568辆。Rivian伊利诺伊州Normal工厂目前的年产能为15万辆,公司表示,计划在2023年前将该厂年产能提高到20万辆。Rivian另一家工厂定于2024年投产,最终将年产40万辆汽车,并生产电池。不仅索罗斯看好,摩根士丹利也维持对Rivian的“增持”评级。分析师Adam Jonas表示:“在将各种不良因素考虑进去后,即使目前整体股市低迷,但我们认为该公司目前的股价依然略低。通过估算,目前的股价并不足以反映该公司在2030年的20万辆电车年销量预期”。","news_type":1,"symbols_score_info":{"RIVN":0.9}},"isVote":1,"tweetType":1,"viewCount":5646,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9066312522,"gmtCreate":1651849466666,"gmtModify":1676534983758,"author":{"id":"4090282032864880","authorId":"4090282032864880","name":"pkl","avatar":"https://static.tigerbbs.com/1e774fafbe3985365e6e79f4f083da4a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090282032864880","idStr":"4090282032864880"},"themes":[],"title":"","htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9066312522","repostId":"1169210876","repostType":4,"isVote":1,"tweetType":1,"viewCount":4459,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9060224538,"gmtCreate":1651156692284,"gmtModify":1676534860606,"author":{"id":"4090282032864880","authorId":"4090282032864880","name":"pkl","avatar":"https://static.tigerbbs.com/1e774fafbe3985365e6e79f4f083da4a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090282032864880","idStr":"4090282032864880"},"themes":[],"title":"","htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9060224538","repostId":"1159795060","repostType":4,"repost":{"id":"1159795060","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1651154063,"share":"https://ttm.financial/m/news/1159795060?lang=en_US&edition=fundamental","pubTime":"2022-04-28 21:54","market":"us","language":"zh","title":"Teladoc Health was suspended from trading during trading, after its share price fell more than 44% before the suspension.","url":"https://stock-news.laohu8.com/highlight/detail?id=1159795060","media":"老虎资讯综合","summary":"4月28日,Teladoc Health盘中停牌,停牌前股价跌逾44%,报31.23美元。","content":"<p><html><head></head><body>On April 28,<a href=\"https://laohu8.com/S/TDOC\">Teladoc Health</a>Trading was suspended during the session, and the stock price fell more than 44% to $31.23 before the suspension.</p><p><img src=\"https://static.tigerbbs.com/2f19b2d605f93b3dcd8ea03bc008db23\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","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>Teladoc Health was suspended from trading during trading, after its share price fell more than 44% before the suspension.</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; 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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: 12.5px; color: #7E829C; margin: 0;}\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\">\nTeladoc Health was suspended from trading during trading, after its share price fell more than 44% before the suspension.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-04-28 21:54</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On April 28,<a href=\"https://laohu8.com/S/TDOC\">Teladoc Health</a>Trading was suspended during the session, and the stock price fell more than 44% to $31.23 before the suspension.</p><p><img src=\"https://static.tigerbbs.com/2f19b2d605f93b3dcd8ea03bc008db23\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c7da52addfd52fb216bcf87283f43750","relate_stocks":{"BK4167":"医疗保健技术","BK4504":"桥水持仓","TDOC":"Teladoc Health Inc.","BK4534":"瑞士信贷持仓","BK4567":"ESG概念","BK4548":"巴美列捷福持仓"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159795060","content_text":"4月28日,Teladoc Health盘中停牌,停牌前股价跌逾44%,报31.23美元。","news_type":1,"symbols_score_info":{"TDOC":0.9}},"isVote":1,"tweetType":1,"viewCount":4474,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9060224190,"gmtCreate":1651156619442,"gmtModify":1676534860590,"author":{"id":"4090282032864880","authorId":"4090282032864880","name":"pkl","avatar":"https://static.tigerbbs.com/1e774fafbe3985365e6e79f4f083da4a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090282032864880","idStr":"4090282032864880"},"themes":[],"title":"","htmlText":"👍👍👍","listText":"👍👍👍","text":"👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9060224190","repostId":"1123914915","repostType":4,"repost":{"id":"1123914915","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1651153597,"share":"https://ttm.financial/m/news/1123914915?lang=en_US&edition=fundamental","pubTime":"2022-04-28 21:46","market":"us","language":"zh","title":"Most new energy vehicle sectors in the US stock market declined, with Tesla falling nearly 4%.","url":"https://stock-news.laohu8.com/highlight/detail?id=1123914915","media":"老虎资讯综合","summary":"4月28日,美股新能源车板块多数走低,福特汽车跌超5%,特斯拉跌近4%,Rivian跌2.2%,蔚来跌近2%。","content":"<p><html><head></head><body>On April 28, most new energy vehicle stocks in the US stock market declined.<a href=\"https://laohu8.com/S/F\">Ford Motor</a>It fell more than 5%.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It fell nearly 4%.<a href=\"https://laohu8.com/S/RIVN\">Rivian</a>It fell 2.2%.<a href=\"https://laohu8.com/S/NIO\">Nio</a>It fell nearly 2%.</p><p><img src=\"https://static.tigerbbs.com/70964b41ebcc4ef7a7923eb9fa972abc\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","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>Most new energy vehicle sectors in the US stock market declined, with Tesla falling nearly 4%.</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; 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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: 12.5px; color: #7E829C; margin: 0;}\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\">\nMost new energy vehicle sectors in the US stock market declined, with Tesla falling nearly 4%.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-04-28 21:46</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On April 28, most new energy vehicle stocks in the US stock market declined.<a href=\"https://laohu8.com/S/F\">Ford Motor</a>It fell more than 5%.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>It fell nearly 4%.<a href=\"https://laohu8.com/S/RIVN\">Rivian</a>It fell 2.2%.<a href=\"https://laohu8.com/S/NIO\">Nio</a>It fell nearly 2%.</p><p><img src=\"https://static.tigerbbs.com/70964b41ebcc4ef7a7923eb9fa972abc\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a530a2a17bc301499c9e286759c5657e","relate_stocks":{"161028":"新能源车","399417":"新能源车","BK4511":"特斯拉概念","RIVN":"Rivian Automotive, Inc.","BK4534":"瑞士信贷持仓","BK4550":"红杉资本持仓","BK4548":"巴美列捷福持仓","TSLA":"特斯拉","BK4581":"高盛持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4555":"新能源车","BK4574":"无人驾驶","BK4527":"明星科技股","BK4551":"寇图资本持仓","BK4099":"汽车制造商"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123914915","content_text":"4月28日,美股新能源车板块多数走低,福特汽车跌超5%,特斯拉跌近4%,Rivian跌2.2%,蔚来跌近2%。","news_type":1,"symbols_score_info":{"161028":0.9,"399417":0.9,"TSLA":0.9,"RIVN":0.9}},"isVote":1,"tweetType":1,"viewCount":5323,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":true}