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PeopleAction
2021-03-23
谷歌
Better Buy: Baidu vs. Alphabet
PeopleAction
2021-03-23
棒棒
Apple and Amazon prices make sense and more signs from Goldman Sachs that stocks aren’t in a bubble
PeopleAction
2021-02-19
$ABF SG BOND ETF(A35.SI)$
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Like its American counterpart, it also owns a sprawling ecosystem of cloud and media services.</p>\n<p>I compared Baidu to Google's parent company <b>Alphabet</b> (NASDAQ:GOOG) (NASDAQ:GOOGL) last November. I declared Alphabet was a better all-around investment because it was generating stronger ad sales than Baidu, but my prediction clearly missed the mark.</p>\n<p>Baidu's stock has rallied nearly 90% since I wrote that article, but Alphabet's stock has advanced just 15%. Let's see why the bulls favored Baidu over Alphabet, and whether or not that trend will continue.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5db5215b0506c3c6a46f1ce271e2300b\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Why is Baidu attracting so much attention?</h2>\n<p>Baidu's revenue declined year over year in the first half of 2020, but turned positive again in its third and fourth quarters. That recovery brought back some bulls, but its core advertising business is still struggling and its total revenue growth stayed flat for the full year.</p>\n<p>Baidu generated 68% of its revenue during the year from its online marketing services segment, which mainly sells ads. The segment's revenue has declined year over year for seven straight quarters.</p>\n<p>That ongoing slowdown is troubling, since Baidu's advertising rivals -- like <b>Tencent</b> and<b> Bilibili -- </b>both expanded their advertising businesses over the past year. It also indicates people are spending less time on traditional online searches and more time on other digital platforms.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ec0d123f1b64c99476caf1394079657d\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<p>Baidu previously relied on its video streaming platform <b>iQIYI</b> to pick up the slack. But iQIYI's growth decelerated over the past year and forced Baidu to rely on its smaller cloud business to offset the sluggish growth of its online marketing business instead. That strategy could squeeze its margins, since Baidu Cloud is still an underdog in China's cloud market and likely remains unprofitable.</p>\n<p>Based on these facts, Baidu's rally might seem odd. But a trio of catalysts appear to be driving it. First, Baidu expects its revenue to rise 15%-26% year over year in the first quarter, which implies its core advertising business will grow again.</p>\n<p>Second, it launched a new joint venture to develop driverless EVs in China -- which made it a target in the recent buying frenzy in EV-related stocks. Lastly, Baidu believes it can generate fresh revenue growth with its upcoming takeover of the live streaming platform YY Live.</p>\n<p>Analysts expect Baidu's revenue and earnings to rise 18% and 6%, respectively, this year. The stock was trading at historically low valuations prior to its latest rally, and it still looks reasonably valued at 21 times forward earnings.</p>\n<h2>Why weren't investors as excited about Alphabet?</h2>\n<p>Google's advertising business, which generated 80% of Alphabet's revenue in 2020, suffered a slowdown in the first half of the year as companies purchased fewer ads throughout the pandemic.</p>\n<p>But the growth of Google Cloud, which ranks third in the cloud infrastructure market behind <b>Amazon</b> (NASDAQ:AMZN) Web Services (AWS) and <b>Microsoft</b> (NASDAQ:MSFT) Azure, partly offset its sluggish ad sales.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/689c86bc97f5dab57c9517fc7b7330cf\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<p>Google's advertising business recovered in the second half of the year as more businesses reopened, Google Cloud continued to expand, and Alphabet's total revenue rose 13% for the full year.</p>\n<p>Google Cloud's revenue rose 46% to $13.1 billion, or 7% of Alphabet's top line, during the year. That was faster than AWS' growth rate but slower than Azure's growth rate in their latest fiscal years.</p>\n<p>Analysts expect Alphabet's revenue and earnings to increase 24% and 19%, respectively, this year as its advertising sales accelerate again. That outlook seems stable, and the stock still doesn't seem expensive at 25 times forward earnings.</p>\n<p>But four major challenges seem to be curbing investors' appetite for Alphabet's stock. First, Alphabet still faces antitrust challenges in the U.S. and Europe, which could result in big fines or tighter restrictions on its search engine, targeted ads, and Android-related businesses.</p>\n<p>Second, <b>Apple</b>'s upcoming update for iOS14, which will let users opt out of data-tracking apps, could impair Google's ability to craft targeted ads for iOS users. Third, Google Cloud could rack up more losses as it tries to keep pace with AWS and Azure in the cloud platform market.</p>\n<p>Lastly, rising bond yields are sparking a rotation from higher-growth tech stocks to defensive value stocks. This shift could potentially hurt Alphabet more than Baidu, since the latter still trades at slightly lower valuations.</p>\n<h2>The winner: Alphabet</h2>\n<p>I underestimated Baidu's potential to rally over the past few months, since I mainly focused on its core weaknesses instead of its low valuation. But I'd still like to see Baidu's advertising business recover before I turn bullish on the stock, regardless of how lucrative its driverless, EV, and AI plans might seem.</p>\n<p>I personally own shares of Baidu, but I wouldn't be comfortable adding more shares now. Meanwhile, Alphabet's stable growth, market-leading positions across multiple markets, and reasonable valuations should all make it a safer bet than Baidu over the next few quarters.</p>","source":"fool_stock","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>Better Buy: Baidu vs. Alphabet</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBetter Buy: Baidu vs. Alphabet\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-22 22:48 GMT+8 <a href=https://www.fool.com/investing/2021/03/22/better-buy-baidu-vs-alphabet/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Baidu (NASDAQ:BIDU) is often called the \"Google of China\" because it owns the country's largest search engine. Like its American counterpart, it also owns a sprawling ecosystem of cloud and media ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/03/22/better-buy-baidu-vs-alphabet/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOGL":"谷歌A","QNETCN":"纳斯达克中美互联网老虎指数","09086":"华夏纳指-U","BIDU":"百度","09888":"百度集团-SW","03086":"华夏纳指","GOOG":"谷歌"},"source_url":"https://www.fool.com/investing/2021/03/22/better-buy-baidu-vs-alphabet/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2121766771","content_text":"Baidu (NASDAQ:BIDU) is often called the \"Google of China\" because it owns the country's largest search engine. Like its American counterpart, it also owns a sprawling ecosystem of cloud and media services.\nI compared Baidu to Google's parent company Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) last November. I declared Alphabet was a better all-around investment because it was generating stronger ad sales than Baidu, but my prediction clearly missed the mark.\nBaidu's stock has rallied nearly 90% since I wrote that article, but Alphabet's stock has advanced just 15%. Let's see why the bulls favored Baidu over Alphabet, and whether or not that trend will continue.\nImage source: Getty Images.\nWhy is Baidu attracting so much attention?\nBaidu's revenue declined year over year in the first half of 2020, but turned positive again in its third and fourth quarters. That recovery brought back some bulls, but its core advertising business is still struggling and its total revenue growth stayed flat for the full year.\nBaidu generated 68% of its revenue during the year from its online marketing services segment, which mainly sells ads. The segment's revenue has declined year over year for seven straight quarters.\nThat ongoing slowdown is troubling, since Baidu's advertising rivals -- like Tencent and Bilibili -- both expanded their advertising businesses over the past year. It also indicates people are spending less time on traditional online searches and more time on other digital platforms.\nImage source: Getty Images.\nBaidu previously relied on its video streaming platform iQIYI to pick up the slack. But iQIYI's growth decelerated over the past year and forced Baidu to rely on its smaller cloud business to offset the sluggish growth of its online marketing business instead. That strategy could squeeze its margins, since Baidu Cloud is still an underdog in China's cloud market and likely remains unprofitable.\nBased on these facts, Baidu's rally might seem odd. But a trio of catalysts appear to be driving it. First, Baidu expects its revenue to rise 15%-26% year over year in the first quarter, which implies its core advertising business will grow again.\nSecond, it launched a new joint venture to develop driverless EVs in China -- which made it a target in the recent buying frenzy in EV-related stocks. Lastly, Baidu believes it can generate fresh revenue growth with its upcoming takeover of the live streaming platform YY Live.\nAnalysts expect Baidu's revenue and earnings to rise 18% and 6%, respectively, this year. The stock was trading at historically low valuations prior to its latest rally, and it still looks reasonably valued at 21 times forward earnings.\nWhy weren't investors as excited about Alphabet?\nGoogle's advertising business, which generated 80% of Alphabet's revenue in 2020, suffered a slowdown in the first half of the year as companies purchased fewer ads throughout the pandemic.\nBut the growth of Google Cloud, which ranks third in the cloud infrastructure market behind Amazon (NASDAQ:AMZN) Web Services (AWS) and Microsoft (NASDAQ:MSFT) Azure, partly offset its sluggish ad sales.\nImage source: Getty Images.\nGoogle's advertising business recovered in the second half of the year as more businesses reopened, Google Cloud continued to expand, and Alphabet's total revenue rose 13% for the full year.\nGoogle Cloud's revenue rose 46% to $13.1 billion, or 7% of Alphabet's top line, during the year. That was faster than AWS' growth rate but slower than Azure's growth rate in their latest fiscal years.\nAnalysts expect Alphabet's revenue and earnings to increase 24% and 19%, respectively, this year as its advertising sales accelerate again. That outlook seems stable, and the stock still doesn't seem expensive at 25 times forward earnings.\nBut four major challenges seem to be curbing investors' appetite for Alphabet's stock. First, Alphabet still faces antitrust challenges in the U.S. and Europe, which could result in big fines or tighter restrictions on its search engine, targeted ads, and Android-related businesses.\nSecond, Apple's upcoming update for iOS14, which will let users opt out of data-tracking apps, could impair Google's ability to craft targeted ads for iOS users. Third, Google Cloud could rack up more losses as it tries to keep pace with AWS and Azure in the cloud platform market.\nLastly, rising bond yields are sparking a rotation from higher-growth tech stocks to defensive value stocks. This shift could potentially hurt Alphabet more than Baidu, since the latter still trades at slightly lower valuations.\nThe winner: Alphabet\nI underestimated Baidu's potential to rally over the past few months, since I mainly focused on its core weaknesses instead of its low valuation. But I'd still like to see Baidu's advertising business recover before I turn bullish on the stock, regardless of how lucrative its driverless, EV, and AI plans might seem.\nI personally own shares of Baidu, but I wouldn't be comfortable adding more shares now. Meanwhile, Alphabet's stable growth, market-leading positions across multiple markets, and reasonable valuations should all make it a safer bet than Baidu over the next few quarters.","news_type":1},"isVote":1,"tweetType":1,"viewCount":552,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":353958054,"gmtCreate":1616457476778,"gmtModify":1634525763013,"author":{"id":"3553751084635254","authorId":"3553751084635254","name":"PeopleAction","avatar":"https://static.tigerbbs.com/50b5756d6638c3b8fc7eb475adc1ab9c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"棒棒","listText":"棒棒","text":"棒棒","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/353958054","repostId":"2121722120","repostType":4,"repost":{"id":"2121722120","pubTimestamp":1616427519,"share":"https://www.laohu8.com/m/news/2121722120?lang=&edition=full","pubTime":"2021-03-22 23:38","market":"us","language":"en","title":"Apple and Amazon prices make sense and more signs from Goldman Sachs that stocks aren’t in a bubble","url":"https://stock-news.laohu8.com/highlight/detail?id=2121722120","media":"MarketWatch","summary":"The bull rally in stocks continues to paw at the dirt, with both the Dow and S&P 500 indexes charging to new highs last week and momentum set to continue into the week ahead.And worries of a bubble are blowing. Earlier this month,China’s top banking regulator warned that Wall Street assets were trading at such high levels that they are bound to correct.But stocks aren’t in a bubble, according to Goldman Sachs.In ourcall of the day, analysts led by Peter Oppenheimer outline nine key characteristi","content":"<p>The bull rally in stocks continues to paw at the dirt, with both the Dow and S&P 500 indexes charging to new highs last week and momentum set to continue into the week ahead.</p><p>And worries of a bubble are blowing. Earlier this month,China’s top banking regulator warned that Wall Street assets were trading at such high levels that they are bound to correct.</p><p>But stocks aren’t in a bubble, according to Goldman Sachs.In our<b>call of the day</b>, analysts led by Peter Oppenheimer outline nine key characteristics of historic bubbles and discuss how they don’t match the current market environment.</p><p>The investment bank defines a stock market bubble as a “rapid acceleration in prices and valuations that makes an unrealistic claim on future growth and returns.”</p><p>Goldman Sachs’ study is based on historical stock bubbles, including the “Tulip Mania” in the Netherlands in the 1630s, the 1873 “Railway Bubble” in the U.S., and the 1990s global technology bubble.</p><p><img src=\"https://static.tigerbbs.com/4ffa2f713ef154b59609e6052850d34b\" tg-width=\"620\" tg-height=\"488\" referrerpolicy=\"no-referrer\"></p><p>One of the key hallmarks of bubbles is excessive price appreciation and extreme valuations. And while the investment bank acknowledges “pockets of exuberance,” and some excessive price rises in U.S. equities, the analysts argue that it doesn’t necessarily mean that a broader and “systemically dangerous” bubble is forming. The recent rise in the S&P 500 index, and particularly in the technology sector, is impressive but not extreme, the analysts say.</p><p>Similarly, another bubble telltale is the idea that “this time is different,” with a narrative that justifies new ways of valuing companies. But, the Goldman Sachs analysts argue, this time isn’t different, and the main argument supporting higher prices right now is mainstream: Interest rates are low.</p><p><img src=\"https://static.tigerbbs.com/b1518c976cd1ec82e47b88facfa75002\" tg-width=\"620\" tg-height=\"475\" referrerpolicy=\"no-referrer\"></p><p>Past bubbles have often included excitement around a particular sector leading to market concentration. And it is true that the group of FAAMG stocks — Facebook,Apple,Amazon,Microsoft,and Google, owned by Alphabet— representing Big Tech has come to dominate indexes and investor attention.</p><p>But the analysts argue that not only is this representative of a transformative period in technology, but the fundamentals back these companies up. The groups are highly cash-generative, and metrics like earnings per share in Big Tech and other retail investor favorites “have significantly outstripped those of the rest of the market.”</p><p>The investment bank also finds that while the current market has some characteristics of bubbles, like frantic speculation, easy credit and rising leverage, booming corporate activity, and “new era” narrative driving a tech boom, these factors were mitigated by forces including regulation and stability in the wider market. We’re also not late in an economic cycle and widespread accounting scandals haven’t come to light — these are other critical markers of bubbles.</p><p>Goldman Sachs’ findings are summarized in the table below:</p><p><img src=\"https://static.tigerbbs.com/b6c059e67f6c05885c8f108b15cc5595\" tg-width=\"620\" tg-height=\"158\" referrerpolicy=\"no-referrer\"></p><p>The analysts conclude: “While there are pockets of excessive valuations in equities, and parts of the market are justifiably derating as interest rates adjust, in our assessment only a few of these common characteristics are currently present or being partially met.”</p><p>According to Goldman Sachs, the risks of an imminent bubble “with systemic risks to the financial system and economies” is relatively low.</p>","source":"market_watch","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 and Amazon prices make sense and more signs from Goldman Sachs that stocks aren’t in a bubble</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple and Amazon prices make sense and more signs from Goldman Sachs that stocks aren’t in a bubble\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-22 23:38 GMT+8 <a href=https://www.marketwatch.com/story/apple-and-amazon-prices-make-sense-and-more-signs-from-goldman-sachs-that-stocks-arent-in-a-bubble-11616412469?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The bull rally in stocks continues to paw at the dirt, with both the Dow and S&P 500 indexes charging to new highs last week and momentum set to continue into the week ahead.And worries of a bubble ...</p>\n\n<a href=\"https://www.marketwatch.com/story/apple-and-amazon-prices-make-sense-and-more-signs-from-goldman-sachs-that-stocks-arent-in-a-bubble-11616412469?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOGL":"谷歌A","03086":"华夏纳指",".SPX":"S&P 500 Index","09086":"华夏纳指-U","MSFT":"微软","QNETCN":"纳斯达克中美互联网老虎指数",".DJI":"道琼斯","GS":"高盛","GOOG":"谷歌",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/apple-and-amazon-prices-make-sense-and-more-signs-from-goldman-sachs-that-stocks-arent-in-a-bubble-11616412469?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2121722120","content_text":"The bull rally in stocks continues to paw at the dirt, with both the Dow and S&P 500 indexes charging to new highs last week and momentum set to continue into the week ahead.And worries of a bubble are blowing. Earlier this month,China’s top banking regulator warned that Wall Street assets were trading at such high levels that they are bound to correct.But stocks aren’t in a bubble, according to Goldman Sachs.In ourcall of the day, analysts led by Peter Oppenheimer outline nine key characteristics of historic bubbles and discuss how they don’t match the current market environment.The investment bank defines a stock market bubble as a “rapid acceleration in prices and valuations that makes an unrealistic claim on future growth and returns.”Goldman Sachs’ study is based on historical stock bubbles, including the “Tulip Mania” in the Netherlands in the 1630s, the 1873 “Railway Bubble” in the U.S., and the 1990s global technology bubble.One of the key hallmarks of bubbles is excessive price appreciation and extreme valuations. And while the investment bank acknowledges “pockets of exuberance,” and some excessive price rises in U.S. equities, the analysts argue that it doesn’t necessarily mean that a broader and “systemically dangerous” bubble is forming. The recent rise in the S&P 500 index, and particularly in the technology sector, is impressive but not extreme, the analysts say.Similarly, another bubble telltale is the idea that “this time is different,” with a narrative that justifies new ways of valuing companies. But, the Goldman Sachs analysts argue, this time isn’t different, and the main argument supporting higher prices right now is mainstream: Interest rates are low.Past bubbles have often included excitement around a particular sector leading to market concentration. And it is true that the group of FAAMG stocks — Facebook,Apple,Amazon,Microsoft,and Google, owned by Alphabet— representing Big Tech has come to dominate indexes and investor attention.But the analysts argue that not only is this representative of a transformative period in technology, but the fundamentals back these companies up. The groups are highly cash-generative, and metrics like earnings per share in Big Tech and other retail investor favorites “have significantly outstripped those of the rest of the market.”The investment bank also finds that while the current market has some characteristics of bubbles, like frantic speculation, easy credit and rising leverage, booming corporate activity, and “new era” narrative driving a tech boom, these factors were mitigated by forces including regulation and stability in the wider market. We’re also not late in an economic cycle and widespread accounting scandals haven’t come to light — these are other critical markers of bubbles.Goldman Sachs’ findings are summarized in the table below:The analysts conclude: “While there are pockets of excessive valuations in equities, and parts of the market are justifiably derating as interest rates adjust, in our assessment only a few of these common characteristics are currently present or being partially met.”According to Goldman Sachs, the risks of an imminent bubble “with systemic risks to the financial system and economies” is relatively low.","news_type":1},"isVote":1,"tweetType":1,"viewCount":350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":387857629,"gmtCreate":1613740248861,"gmtModify":1631888113527,"author":{"id":"3553751084635254","authorId":"3553751084635254","name":"PeopleAction","avatar":"https://static.tigerbbs.com/50b5756d6638c3b8fc7eb475adc1ab9c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/A35.SI\">$ABF SG BOND ETF(A35.SI)$</a>[得意] ","listText":"<a href=\"https://laohu8.com/S/A35.SI\">$ABF SG BOND ETF(A35.SI)$</a>[得意] ","text":"$ABF SG BOND ETF(A35.SI)$[得意]","images":[{"img":"https://static.tigerbbs.com/1e7fc3834fadee517af36a55ffaa661b","width":"1170","height":"2026"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/387857629","isVote":1,"tweetType":1,"viewCount":252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"hots":[{"id":353958054,"gmtCreate":1616457476778,"gmtModify":1634525763013,"author":{"id":"3553751084635254","authorId":"3553751084635254","name":"PeopleAction","avatar":"https://static.tigerbbs.com/50b5756d6638c3b8fc7eb475adc1ab9c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"棒棒","listText":"棒棒","text":"棒棒","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/353958054","repostId":"2121722120","repostType":4,"repost":{"id":"2121722120","pubTimestamp":1616427519,"share":"https://www.laohu8.com/m/news/2121722120?lang=&edition=full","pubTime":"2021-03-22 23:38","market":"us","language":"en","title":"Apple and Amazon prices make sense and more signs from Goldman Sachs that stocks aren’t in a bubble","url":"https://stock-news.laohu8.com/highlight/detail?id=2121722120","media":"MarketWatch","summary":"The bull rally in stocks continues to paw at the dirt, with both the Dow and S&P 500 indexes charging to new highs last week and momentum set to continue into the week ahead.And worries of a bubble are blowing. Earlier this month,China’s top banking regulator warned that Wall Street assets were trading at such high levels that they are bound to correct.But stocks aren’t in a bubble, according to Goldman Sachs.In ourcall of the day, analysts led by Peter Oppenheimer outline nine key characteristi","content":"<p>The bull rally in stocks continues to paw at the dirt, with both the Dow and S&P 500 indexes charging to new highs last week and momentum set to continue into the week ahead.</p><p>And worries of a bubble are blowing. Earlier this month,China’s top banking regulator warned that Wall Street assets were trading at such high levels that they are bound to correct.</p><p>But stocks aren’t in a bubble, according to Goldman Sachs.In our<b>call of the day</b>, analysts led by Peter Oppenheimer outline nine key characteristics of historic bubbles and discuss how they don’t match the current market environment.</p><p>The investment bank defines a stock market bubble as a “rapid acceleration in prices and valuations that makes an unrealistic claim on future growth and returns.”</p><p>Goldman Sachs’ study is based on historical stock bubbles, including the “Tulip Mania” in the Netherlands in the 1630s, the 1873 “Railway Bubble” in the U.S., and the 1990s global technology bubble.</p><p><img src=\"https://static.tigerbbs.com/4ffa2f713ef154b59609e6052850d34b\" tg-width=\"620\" tg-height=\"488\" referrerpolicy=\"no-referrer\"></p><p>One of the key hallmarks of bubbles is excessive price appreciation and extreme valuations. And while the investment bank acknowledges “pockets of exuberance,” and some excessive price rises in U.S. equities, the analysts argue that it doesn’t necessarily mean that a broader and “systemically dangerous” bubble is forming. The recent rise in the S&P 500 index, and particularly in the technology sector, is impressive but not extreme, the analysts say.</p><p>Similarly, another bubble telltale is the idea that “this time is different,” with a narrative that justifies new ways of valuing companies. But, the Goldman Sachs analysts argue, this time isn’t different, and the main argument supporting higher prices right now is mainstream: Interest rates are low.</p><p><img src=\"https://static.tigerbbs.com/b1518c976cd1ec82e47b88facfa75002\" tg-width=\"620\" tg-height=\"475\" referrerpolicy=\"no-referrer\"></p><p>Past bubbles have often included excitement around a particular sector leading to market concentration. And it is true that the group of FAAMG stocks — Facebook,Apple,Amazon,Microsoft,and Google, owned by Alphabet— representing Big Tech has come to dominate indexes and investor attention.</p><p>But the analysts argue that not only is this representative of a transformative period in technology, but the fundamentals back these companies up. The groups are highly cash-generative, and metrics like earnings per share in Big Tech and other retail investor favorites “have significantly outstripped those of the rest of the market.”</p><p>The investment bank also finds that while the current market has some characteristics of bubbles, like frantic speculation, easy credit and rising leverage, booming corporate activity, and “new era” narrative driving a tech boom, these factors were mitigated by forces including regulation and stability in the wider market. We’re also not late in an economic cycle and widespread accounting scandals haven’t come to light — these are other critical markers of bubbles.</p><p>Goldman Sachs’ findings are summarized in the table below:</p><p><img src=\"https://static.tigerbbs.com/b6c059e67f6c05885c8f108b15cc5595\" tg-width=\"620\" tg-height=\"158\" referrerpolicy=\"no-referrer\"></p><p>The analysts conclude: “While there are pockets of excessive valuations in equities, and parts of the market are justifiably derating as interest rates adjust, in our assessment only a few of these common characteristics are currently present or being partially met.”</p><p>According to Goldman Sachs, the risks of an imminent bubble “with systemic risks to the financial system and economies” is relatively low.</p>","source":"market_watch","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 and Amazon prices make sense and more signs from Goldman Sachs that stocks aren’t in a bubble</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple and Amazon prices make sense and more signs from Goldman Sachs that stocks aren’t in a bubble\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-22 23:38 GMT+8 <a href=https://www.marketwatch.com/story/apple-and-amazon-prices-make-sense-and-more-signs-from-goldman-sachs-that-stocks-arent-in-a-bubble-11616412469?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The bull rally in stocks continues to paw at the dirt, with both the Dow and S&P 500 indexes charging to new highs last week and momentum set to continue into the week ahead.And worries of a bubble ...</p>\n\n<a href=\"https://www.marketwatch.com/story/apple-and-amazon-prices-make-sense-and-more-signs-from-goldman-sachs-that-stocks-arent-in-a-bubble-11616412469?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOGL":"谷歌A","03086":"华夏纳指",".SPX":"S&P 500 Index","09086":"华夏纳指-U","MSFT":"微软","QNETCN":"纳斯达克中美互联网老虎指数",".DJI":"道琼斯","GS":"高盛","GOOG":"谷歌",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/apple-and-amazon-prices-make-sense-and-more-signs-from-goldman-sachs-that-stocks-arent-in-a-bubble-11616412469?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2121722120","content_text":"The bull rally in stocks continues to paw at the dirt, with both the Dow and S&P 500 indexes charging to new highs last week and momentum set to continue into the week ahead.And worries of a bubble are blowing. Earlier this month,China’s top banking regulator warned that Wall Street assets were trading at such high levels that they are bound to correct.But stocks aren’t in a bubble, according to Goldman Sachs.In ourcall of the day, analysts led by Peter Oppenheimer outline nine key characteristics of historic bubbles and discuss how they don’t match the current market environment.The investment bank defines a stock market bubble as a “rapid acceleration in prices and valuations that makes an unrealistic claim on future growth and returns.”Goldman Sachs’ study is based on historical stock bubbles, including the “Tulip Mania” in the Netherlands in the 1630s, the 1873 “Railway Bubble” in the U.S., and the 1990s global technology bubble.One of the key hallmarks of bubbles is excessive price appreciation and extreme valuations. And while the investment bank acknowledges “pockets of exuberance,” and some excessive price rises in U.S. equities, the analysts argue that it doesn’t necessarily mean that a broader and “systemically dangerous” bubble is forming. The recent rise in the S&P 500 index, and particularly in the technology sector, is impressive but not extreme, the analysts say.Similarly, another bubble telltale is the idea that “this time is different,” with a narrative that justifies new ways of valuing companies. But, the Goldman Sachs analysts argue, this time isn’t different, and the main argument supporting higher prices right now is mainstream: Interest rates are low.Past bubbles have often included excitement around a particular sector leading to market concentration. And it is true that the group of FAAMG stocks — Facebook,Apple,Amazon,Microsoft,and Google, owned by Alphabet— representing Big Tech has come to dominate indexes and investor attention.But the analysts argue that not only is this representative of a transformative period in technology, but the fundamentals back these companies up. The groups are highly cash-generative, and metrics like earnings per share in Big Tech and other retail investor favorites “have significantly outstripped those of the rest of the market.”The investment bank also finds that while the current market has some characteristics of bubbles, like frantic speculation, easy credit and rising leverage, booming corporate activity, and “new era” narrative driving a tech boom, these factors were mitigated by forces including regulation and stability in the wider market. We’re also not late in an economic cycle and widespread accounting scandals haven’t come to light — these are other critical markers of bubbles.Goldman Sachs’ findings are summarized in the table below:The analysts conclude: “While there are pockets of excessive valuations in equities, and parts of the market are justifiably derating as interest rates adjust, in our assessment only a few of these common characteristics are currently present or being partially met.”According to Goldman Sachs, the risks of an imminent bubble “with systemic risks to the financial system and economies” is relatively low.","news_type":1},"isVote":1,"tweetType":1,"viewCount":350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":353956368,"gmtCreate":1616457544554,"gmtModify":1634525762070,"author":{"id":"3553751084635254","authorId":"3553751084635254","name":"PeopleAction","avatar":"https://static.tigerbbs.com/50b5756d6638c3b8fc7eb475adc1ab9c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"谷歌","listText":"谷歌","text":"谷歌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/353956368","repostId":"2121766771","repostType":4,"repost":{"id":"2121766771","pubTimestamp":1616424482,"share":"https://www.laohu8.com/m/news/2121766771?lang=&edition=full","pubTime":"2021-03-22 22:48","market":"us","language":"en","title":"Better Buy: Baidu vs. Alphabet","url":"https://stock-news.laohu8.com/highlight/detail?id=2121766771","media":"Motley Fool","summary":"Is the \"Google of China\" a better bet than the American original?","content":"<p><b>Baidu</b> (NASDAQ:BIDU) is often called the \"Google of China\" because it owns the country's largest search engine. Like its American counterpart, it also owns a sprawling ecosystem of cloud and media services.</p>\n<p>I compared Baidu to Google's parent company <b>Alphabet</b> (NASDAQ:GOOG) (NASDAQ:GOOGL) last November. I declared Alphabet was a better all-around investment because it was generating stronger ad sales than Baidu, but my prediction clearly missed the mark.</p>\n<p>Baidu's stock has rallied nearly 90% since I wrote that article, but Alphabet's stock has advanced just 15%. Let's see why the bulls favored Baidu over Alphabet, and whether or not that trend will continue.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5db5215b0506c3c6a46f1ce271e2300b\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Why is Baidu attracting so much attention?</h2>\n<p>Baidu's revenue declined year over year in the first half of 2020, but turned positive again in its third and fourth quarters. That recovery brought back some bulls, but its core advertising business is still struggling and its total revenue growth stayed flat for the full year.</p>\n<p>Baidu generated 68% of its revenue during the year from its online marketing services segment, which mainly sells ads. The segment's revenue has declined year over year for seven straight quarters.</p>\n<p>That ongoing slowdown is troubling, since Baidu's advertising rivals -- like <b>Tencent</b> and<b> Bilibili -- </b>both expanded their advertising businesses over the past year. It also indicates people are spending less time on traditional online searches and more time on other digital platforms.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ec0d123f1b64c99476caf1394079657d\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<p>Baidu previously relied on its video streaming platform <b>iQIYI</b> to pick up the slack. But iQIYI's growth decelerated over the past year and forced Baidu to rely on its smaller cloud business to offset the sluggish growth of its online marketing business instead. That strategy could squeeze its margins, since Baidu Cloud is still an underdog in China's cloud market and likely remains unprofitable.</p>\n<p>Based on these facts, Baidu's rally might seem odd. But a trio of catalysts appear to be driving it. First, Baidu expects its revenue to rise 15%-26% year over year in the first quarter, which implies its core advertising business will grow again.</p>\n<p>Second, it launched a new joint venture to develop driverless EVs in China -- which made it a target in the recent buying frenzy in EV-related stocks. Lastly, Baidu believes it can generate fresh revenue growth with its upcoming takeover of the live streaming platform YY Live.</p>\n<p>Analysts expect Baidu's revenue and earnings to rise 18% and 6%, respectively, this year. The stock was trading at historically low valuations prior to its latest rally, and it still looks reasonably valued at 21 times forward earnings.</p>\n<h2>Why weren't investors as excited about Alphabet?</h2>\n<p>Google's advertising business, which generated 80% of Alphabet's revenue in 2020, suffered a slowdown in the first half of the year as companies purchased fewer ads throughout the pandemic.</p>\n<p>But the growth of Google Cloud, which ranks third in the cloud infrastructure market behind <b>Amazon</b> (NASDAQ:AMZN) Web Services (AWS) and <b>Microsoft</b> (NASDAQ:MSFT) Azure, partly offset its sluggish ad sales.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/689c86bc97f5dab57c9517fc7b7330cf\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<p>Google's advertising business recovered in the second half of the year as more businesses reopened, Google Cloud continued to expand, and Alphabet's total revenue rose 13% for the full year.</p>\n<p>Google Cloud's revenue rose 46% to $13.1 billion, or 7% of Alphabet's top line, during the year. That was faster than AWS' growth rate but slower than Azure's growth rate in their latest fiscal years.</p>\n<p>Analysts expect Alphabet's revenue and earnings to increase 24% and 19%, respectively, this year as its advertising sales accelerate again. That outlook seems stable, and the stock still doesn't seem expensive at 25 times forward earnings.</p>\n<p>But four major challenges seem to be curbing investors' appetite for Alphabet's stock. First, Alphabet still faces antitrust challenges in the U.S. and Europe, which could result in big fines or tighter restrictions on its search engine, targeted ads, and Android-related businesses.</p>\n<p>Second, <b>Apple</b>'s upcoming update for iOS14, which will let users opt out of data-tracking apps, could impair Google's ability to craft targeted ads for iOS users. Third, Google Cloud could rack up more losses as it tries to keep pace with AWS and Azure in the cloud platform market.</p>\n<p>Lastly, rising bond yields are sparking a rotation from higher-growth tech stocks to defensive value stocks. This shift could potentially hurt Alphabet more than Baidu, since the latter still trades at slightly lower valuations.</p>\n<h2>The winner: Alphabet</h2>\n<p>I underestimated Baidu's potential to rally over the past few months, since I mainly focused on its core weaknesses instead of its low valuation. But I'd still like to see Baidu's advertising business recover before I turn bullish on the stock, regardless of how lucrative its driverless, EV, and AI plans might seem.</p>\n<p>I personally own shares of Baidu, but I wouldn't be comfortable adding more shares now. Meanwhile, Alphabet's stable growth, market-leading positions across multiple markets, and reasonable valuations should all make it a safer bet than Baidu over the next few quarters.</p>","source":"fool_stock","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>Better Buy: Baidu vs. Alphabet</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBetter Buy: Baidu vs. Alphabet\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-22 22:48 GMT+8 <a href=https://www.fool.com/investing/2021/03/22/better-buy-baidu-vs-alphabet/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Baidu (NASDAQ:BIDU) is often called the \"Google of China\" because it owns the country's largest search engine. Like its American counterpart, it also owns a sprawling ecosystem of cloud and media ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/03/22/better-buy-baidu-vs-alphabet/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOGL":"谷歌A","QNETCN":"纳斯达克中美互联网老虎指数","09086":"华夏纳指-U","BIDU":"百度","09888":"百度集团-SW","03086":"华夏纳指","GOOG":"谷歌"},"source_url":"https://www.fool.com/investing/2021/03/22/better-buy-baidu-vs-alphabet/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2121766771","content_text":"Baidu (NASDAQ:BIDU) is often called the \"Google of China\" because it owns the country's largest search engine. Like its American counterpart, it also owns a sprawling ecosystem of cloud and media services.\nI compared Baidu to Google's parent company Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) last November. I declared Alphabet was a better all-around investment because it was generating stronger ad sales than Baidu, but my prediction clearly missed the mark.\nBaidu's stock has rallied nearly 90% since I wrote that article, but Alphabet's stock has advanced just 15%. Let's see why the bulls favored Baidu over Alphabet, and whether or not that trend will continue.\nImage source: Getty Images.\nWhy is Baidu attracting so much attention?\nBaidu's revenue declined year over year in the first half of 2020, but turned positive again in its third and fourth quarters. That recovery brought back some bulls, but its core advertising business is still struggling and its total revenue growth stayed flat for the full year.\nBaidu generated 68% of its revenue during the year from its online marketing services segment, which mainly sells ads. The segment's revenue has declined year over year for seven straight quarters.\nThat ongoing slowdown is troubling, since Baidu's advertising rivals -- like Tencent and Bilibili -- both expanded their advertising businesses over the past year. It also indicates people are spending less time on traditional online searches and more time on other digital platforms.\nImage source: Getty Images.\nBaidu previously relied on its video streaming platform iQIYI to pick up the slack. But iQIYI's growth decelerated over the past year and forced Baidu to rely on its smaller cloud business to offset the sluggish growth of its online marketing business instead. That strategy could squeeze its margins, since Baidu Cloud is still an underdog in China's cloud market and likely remains unprofitable.\nBased on these facts, Baidu's rally might seem odd. But a trio of catalysts appear to be driving it. First, Baidu expects its revenue to rise 15%-26% year over year in the first quarter, which implies its core advertising business will grow again.\nSecond, it launched a new joint venture to develop driverless EVs in China -- which made it a target in the recent buying frenzy in EV-related stocks. Lastly, Baidu believes it can generate fresh revenue growth with its upcoming takeover of the live streaming platform YY Live.\nAnalysts expect Baidu's revenue and earnings to rise 18% and 6%, respectively, this year. The stock was trading at historically low valuations prior to its latest rally, and it still looks reasonably valued at 21 times forward earnings.\nWhy weren't investors as excited about Alphabet?\nGoogle's advertising business, which generated 80% of Alphabet's revenue in 2020, suffered a slowdown in the first half of the year as companies purchased fewer ads throughout the pandemic.\nBut the growth of Google Cloud, which ranks third in the cloud infrastructure market behind Amazon (NASDAQ:AMZN) Web Services (AWS) and Microsoft (NASDAQ:MSFT) Azure, partly offset its sluggish ad sales.\nImage source: Getty Images.\nGoogle's advertising business recovered in the second half of the year as more businesses reopened, Google Cloud continued to expand, and Alphabet's total revenue rose 13% for the full year.\nGoogle Cloud's revenue rose 46% to $13.1 billion, or 7% of Alphabet's top line, during the year. That was faster than AWS' growth rate but slower than Azure's growth rate in their latest fiscal years.\nAnalysts expect Alphabet's revenue and earnings to increase 24% and 19%, respectively, this year as its advertising sales accelerate again. That outlook seems stable, and the stock still doesn't seem expensive at 25 times forward earnings.\nBut four major challenges seem to be curbing investors' appetite for Alphabet's stock. First, Alphabet still faces antitrust challenges in the U.S. and Europe, which could result in big fines or tighter restrictions on its search engine, targeted ads, and Android-related businesses.\nSecond, Apple's upcoming update for iOS14, which will let users opt out of data-tracking apps, could impair Google's ability to craft targeted ads for iOS users. Third, Google Cloud could rack up more losses as it tries to keep pace with AWS and Azure in the cloud platform market.\nLastly, rising bond yields are sparking a rotation from higher-growth tech stocks to defensive value stocks. This shift could potentially hurt Alphabet more than Baidu, since the latter still trades at slightly lower valuations.\nThe winner: Alphabet\nI underestimated Baidu's potential to rally over the past few months, since I mainly focused on its core weaknesses instead of its low valuation. But I'd still like to see Baidu's advertising business recover before I turn bullish on the stock, regardless of how lucrative its driverless, EV, and AI plans might seem.\nI personally own shares of Baidu, but I wouldn't be comfortable adding more shares now. Meanwhile, Alphabet's stable growth, market-leading positions across multiple markets, and reasonable valuations should all make it a safer bet than Baidu over the next few quarters.","news_type":1},"isVote":1,"tweetType":1,"viewCount":552,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":387857629,"gmtCreate":1613740248861,"gmtModify":1631888113527,"author":{"id":"3553751084635254","authorId":"3553751084635254","name":"PeopleAction","avatar":"https://static.tigerbbs.com/50b5756d6638c3b8fc7eb475adc1ab9c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/A35.SI\">$ABF SG BOND ETF(A35.SI)$</a>[得意] ","listText":"<a href=\"https://laohu8.com/S/A35.SI\">$ABF SG BOND ETF(A35.SI)$</a>[得意] ","text":"$ABF SG BOND ETF(A35.SI)$[得意]","images":[{"img":"https://static.tigerbbs.com/1e7fc3834fadee517af36a55ffaa661b","width":"1170","height":"2026"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/387857629","isVote":1,"tweetType":1,"viewCount":252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"lives":[]}
