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8818cdf

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2021-09-07

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Nvidia: AI Leadership Key To Continuous Double-Digit Stock Price Growth

2021-09-03

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2021-09-02

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Costco stock price target raised to $399 from $364 at Deutsche Bank

2021-09-02

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2021-09-01

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2021-08-31

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2 Retail Stocks You Can Buy and Hold for the Next Decade

2021-07-07

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2021-07-04

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href=\"https://laohu8.com/S/TQQQ\">$ProShares UltraPro QQQ(TQQQ)$</a>[Cool]&nbsp;","listText":"<a href=\"https://laohu8.com/S/TQQQ\">$ProShares UltraPro QQQ(TQQQ)$</a>[Cool]&nbsp;","text":"$ProShares UltraPro 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[Call]","images":[{"img":"https://static.tigerbbs.com/07f45a68389bddaeccf666003c302ba8","width":"1125","height":"3713"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/880919310","isVote":1,"tweetType":1,"viewCount":161,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":817723790,"gmtCreate":1630990229210,"gmtModify":1632904731268,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561728795184169","idStr":"3561728795184169"},"themes":[],"htmlText":"yes","listText":"yes","text":"yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/817723790","repostId":"1170846245","repostType":4,"repost":{"id":"1170846245","pubTimestamp":1630983881,"share":"https://www.laohu8.com/m/news/1170846245?lang=&edition=full","pubTime":"2021-09-07 11:04","market":"us","language":"en","title":"Nvidia: AI Leadership Key To Continuous Double-Digit Stock Price Growth","url":"https://stock-news.laohu8.com/highlight/detail?id=1170846245","media":"Seeking Alpha","summary":"Summary\n\nThe company’s share price has surged 42% along with its revenues at 54%, we aimed to determ","content":"<p><b>Summary</b></p>\n<ul>\n <li>The company’s share price has surged 42% along with its revenues at 54%, we aimed to determine if the share price has reached its peak or if there is more.</li>\n <li>It is advancing its AI leadership to capture growth opportunities in the booming cloud market fueled by the rising volume of data.</li>\n <li>We determine that pricing increase rather than shipment growth was the key to its PC GPU sales, and its pricing power was due to its performance improvements with every new.</li>\n <li>Despite the company’s Arm acquisition still pending regulatory approval, it has gone ahead in advancing its product development with Arm’s architecture, with its new BlueField DPU and Nvidia Grace.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c4a1c53ba379b52dcd7584cb55a0b11a\" tg-width=\"1536\" tg-height=\"1053\" referrerpolicy=\"no-referrer\"><span>David Becker/Getty Images News</span></p>\n<p>Since our previous analysis on Nvidia Corp (NVDA), the company’s full-year revenues have increased by 53% in 2020 which has exceeded our&nbsp;expectations&nbsp;of 43% growth with higher GPU sales across PC and data center markets. As such, the company’s stock price also surges well past our previous price target of $578.39. In this analysis, we determine if its impressive growth can continue and justify a higher valuation for the company.</p>\n<p>The main segments of the company contributing to its high growth were the Data center &amp; Gaming segment representing 40.2% and 46.5% of its total revenues respectively. We identified Nvidia’s AI leadership as a key advantage fuelling the growth across its data center segment capitalizing on rising data creation from AI, HPC and IoT applications with its AI leadership through its innovative products catered towards the booming cloud market. Besides data centers, gaming continues to be a key driver with its continuous performance improvements backed by new releases of next-generation GPU models contributing to rising pricing power to maintain ASP growth.</p>\n<p>Finally, we followed up on the Arm acquisition which is slated by management to conclude by early 2022. Through the acquisition of Arm, it not only earns incremental licensing revenue but also the ability to further leverage its CPU capabilities to develop and expand its range of Arm-based products including upcoming CPUs launches and the latest DPU SoCs. As the company is in the progress of obtaining regulatory clearance, we analysed the effect of the acquisition on the market competitiveness of the CPU markets.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/620b8212ee6f5ba62d2f6ac3f3e7be2c\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia</span></p>\n<p><b>AI Leadership ensures High Growth Across Key Data Centre Segment</b></p>\n<p>The increasing volumes of data created will fuel&nbsp;data center&nbsp;growth over the next decade. An important aspect of this will be machine-to-machine and Artificial Intelligence ('AI') technologies that enable massive volumes of data to be processed with ease and speed. AI data processing is made possible by a system of linked supercomputers that are used to process complex workloads by running millions of simulations and financial models to generate predictions from massive volumes of data by identifying a pattern and then replicating that pattern identification across other data. As can be imagined,AI computing&nbsp;would require massive computing infrastructure.</p>\n<p>Driven by the advent of AI, HPC, IoT and edge computing,data creation&nbsp;is projected to grow at a rate of&nbsp;around&nbsp;23% in the next 5 years. This would require greater cloud infrastructure to handle the increase in data. To determine the growth in cloud infrastructure revenues, we identified the factor of correlation of cloud infrastructure revenues to data volume growth over the past 10 years. The factor identified of 1.65x was applied to data volume growth projections to estimate the cloud infrastructure market growth rate to the year 2025.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/65dce37578817882262e6dc751775292\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Statista, Khaveen Investments</span></p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Volume of Data Worldwide</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2017</b></p></td>\n   <td><p><b>2018</b></p></td>\n   <td><p><b>2019</b></p></td>\n   <td><p><b>2020</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Cloud Infrastructure Market Revenues ($ bln)</p></td>\n   <td><p>32</p></td>\n   <td><p>46.5</p></td>\n   <td><p>69</p></td>\n   <td><p>96</p></td>\n   <td><p>129.5</p></td>\n   <td><p>178.9</p></td>\n   <td><p>246.3</p></td>\n   <td><p>342.9</p></td>\n   <td><p>470.6</p></td>\n   <td><p>650.6</p></td>\n  </tr>\n  <tr>\n   <td><p>Cloud Infrastructure Market Revenue Growth %<b><i>('a')</i></b></p></td>\n   <td><p>52%</p></td>\n   <td><p>45%</p></td>\n   <td><p>48%</p></td>\n   <td><p>39%</p></td>\n   <td><p>35%</p></td>\n   <td><p>38%</p></td>\n   <td><p>38%</p></td>\n   <td><p>39%</p></td>\n   <td><p>37%</p></td>\n   <td><p>38%</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Volume (ZB)</p></td>\n   <td><p>18</p></td>\n   <td><p>26</p></td>\n   <td><p>33</p></td>\n   <td><p>41</p></td>\n   <td><p>64.2</p></td>\n   <td><p>79</p></td>\n   <td><p>97</p></td>\n   <td><p>120</p></td>\n   <td><p>147</p></td>\n   <td><p>181</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Volume Growth %<b><i>('b')</i></b></p></td>\n   <td><p>16%</p></td>\n   <td><p>44%</p></td>\n   <td><p>27%</p></td>\n   <td><p>24%</p></td>\n   <td><p>57%</p></td>\n   <td><p>23%</p></td>\n   <td><p>23%</p></td>\n   <td><p>24%</p></td>\n   <td><p>23%</p></td>\n   <td><p>23%</p></td>\n  </tr>\n  <tr>\n   <td><p>Cloud Infrastructure Revenue Growth/Data Volume Growth Factor<i><b>('c')</b></i></p></td>\n   <td><p>3.25</p></td>\n   <td><p>1.02</p></td>\n   <td><p>1.80</p></td>\n   <td><p>1.61</p></td>\n   <td><p>0.62</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>*A =C x B</i></p>\n<p><i>Source:Statista, Khaveen Investments</i></p>\n<p>As mentioned, Artificial Intelligence ('AI') will play a crucial role in synthesizing and storing these waves of data. The race of AI computing technology is being led by semiconductor companies that create the chips that enable technology across all segments of the market. As such, innovations in AI have been especially expeditious in the semiconductor industry with several companies such as Nvidia, Intel and AMD developing significant AI capabilities in their chip systems.</p>\n<p>We view Nvidia in particular, as not just an AI leader of the semiconductor industry, but as the AI leader of the world. Nvidia&nbsp;aims&nbsp;to develop AI solutions for every industry and is already well on the way there. It is the leader in autonomous vehicles, with its&nbsp;AI-enabled&nbsp;Advanced Driver Assistance Systems (ADAS) being developed for global automakers, having already secured $8 bln in automotive&nbsp;design wins. Notwithstanding, Nvidia’s automotive segment only&nbsp;represents&nbsp;3.2% of its revenues. Nvidia’s key data center segment that represents 40.2% of its revenues, is where the company’s AI leadership is really seen. The company recently&nbsp;announced&nbsp;that its AI-powered&nbsp;DGX server&nbsp;has been adopted by the top 10 Aerospace companies, 6 of the top 10 US banks, and 8 out of the 10 top global telcos.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f6012b1f26e3dc39c6d52fa790b5723c\" tg-width=\"640\" tg-height=\"640\" referrerpolicy=\"no-referrer\"><span>Source: Statista</span></p>\n<p>As data volume and workload grow, it gets more difficult to transmit the data. To tackle this, enterprises are expected to bring applications and storage closer to themselves rather than transporting resources to a central location. As a result, large enterprises are more likely to build on-site data storage centers which require the use of an on-site fully built server system. This is where Nvidia’s latest DGX server comes into play. To put things in perspective, these aren’t the $500 GPU chipsets used in PCs. The GPU-enabled DGX servers are provided on a subscription model, with a single one&nbsp;costing&nbsp;a massive $4.3 million a year. As to the capability of DGX, its initial design was reported to have one of the world’s&nbsp;fastest&nbsp;AI workload speeds by the National Energy Research Scientific Computer Center (NERSC). Given both the first mover and technological advantage that Nvidia has, we see the company in a prime position to capture the on-premises server market in addition to the cloud server market. As such we expect the company’s data segment revenue as a percentage of total cloud capex to continue increasing at 3%. This was derived through our calculations by first estimating the total capex by the top 4 cloud providers (Amazon (AMZN), Microsoft (MSFT), Google (GOOG), Alibaba (BABA)) and adjusted by its market share as the total cloud capex.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Cloud Providers Capex ($ mln)</b></p></td>\n   <td><p><b>2011</b></p></td>\n   <td><p><b>2012</b></p></td>\n   <td><p><b>2013</b></p></td>\n   <td><p><b>2014</b></p></td>\n   <td><p><b>2015</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2017</b></p></td>\n   <td><p><b>2018</b></p></td>\n   <td><p><b>2019</b></p></td>\n   <td><p><b>2020</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Amazon</p></td>\n   <td><p>3,785</p></td>\n   <td><p>3,444</p></td>\n   <td><p>4,893</p></td>\n   <td><p>5,387</p></td>\n   <td><p>7,804</p></td>\n   <td><p>11,955</p></td>\n   <td><p>13,427</p></td>\n   <td><p>16,861</p></td>\n   <td><p>40,140</p></td>\n   <td><p>45,427</p></td>\n  </tr>\n  <tr>\n   <td><p>Microsoft</p></td>\n   <td><p>2,355</p></td>\n   <td><p>2,305</p></td>\n   <td><p>4,257</p></td>\n   <td><p>5,485</p></td>\n   <td><p>5,944</p></td>\n   <td><p>8,343</p></td>\n   <td><p>8,129</p></td>\n   <td><p>11,632</p></td>\n   <td><p>13,925</p></td>\n   <td><p>15,441</p></td>\n  </tr>\n  <tr>\n   <td><p>Google</p></td>\n   <td><p>3,438</p></td>\n   <td><p>3,273</p></td>\n   <td><p>7,358</p></td>\n   <td><p>11,014</p></td>\n   <td><p>9,950</p></td>\n   <td><p>10,212</p></td>\n   <td><p>13,184</p></td>\n   <td><p>25,139</p></td>\n   <td><p>23,548</p></td>\n   <td><p>22,281</p></td>\n  </tr>\n  <tr>\n   <td><p>Alibaba</p></td>\n   <td><p>403</p></td>\n   <td><p>768</p></td>\n   <td><p>1,243</p></td>\n   <td><p>1,680</p></td>\n   <td><p>1,598</p></td>\n   <td><p>3,129</p></td>\n   <td><p>5,287</p></td>\n   <td><p>4,596</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total (Top 4)</b></p></td>\n   <td><p><b>9,578</b></p></td>\n   <td><p><b>9,022</b></p></td>\n   <td><p><b>16,911</b></p></td>\n   <td><p><b>22,654</b></p></td>\n   <td><p><b>24,941</b></p></td>\n   <td><p><b>32,190</b></p></td>\n   <td><p><b>36,338</b></p></td>\n   <td><p><b>56,761</b></p></td>\n   <td><p><b>82,900</b></p></td>\n   <td><p><b>87,745</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nvidia, Amazon, Microsoft, Google, Alibaba, Khaveen Investments</i></p>\n<p>We then estimated the total cloud capex growth rate by basing it on the forecasted growth in the cloud infrastructure revenues on a 10-year average factor of 0.68x. With the growth in cloud capex, we computed Nvidia’s share of capex spending which has been growing at 3% on average in the past 7 years. Nvidia’s AI-powered GPU accelerators are&nbsp;deployed&nbsp;in more than 97% of all AI-accelerator hardware used by the top 4 cloud providers (Amazon, Google, Microsoft, and Alibaba). These top 4 cloud providers alone control 67%. Applying our estimated share of capex, we forecasted its total data center revenues growing at around 30%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/972996ded01571c84ee7d865f95435f9\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia, Amazon, Microsoft, Google, Alibaba, Statista, Khaveen Investments</span></p>\n<p><b>Continuous Performance Excellence Leads to Continuous Pricing Premium</b></p>\n<p>Nvidia’s Gaming segment revenue growth has&nbsp;averaged&nbsp;a stellar 27% in the past 7 years. The main contributor is rising ASPs which averaged 27% whereas&nbsp;shipments&nbsp;growth was flat. Although Nvidia accounts for 81% of the discrete GPU market share and steadily rising, its market share in the overall GPU market has declined slightly against AMD (AMD) and Intel (INTC) who also manufactures integrated GPUs but is planning to develop its Alchemist product while Nvidia only produces discrete chips.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5ed7f76f27711b67ba1d494638a060a\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Statista, JPR, Khaveen Investments</span></p>\n<p>Based on its stagnant share of the overall GPU market, this implies that demand for the integrated GPU market continues to remain strong. PC shipments grew at -0.8% within the same period. Whereas GPU unit shipments were lower than the PC shipment growth with an average of -2%. One of the attributable factors is the rising GPU costs relative to stagnant PC&nbsp;prices. In the past 5 years, Nvidia’s average ASP as a percentage of PC ASP has risen from 19% to 38%, making it harder for PC makers to cater to the mid-range and entry-level markets which presence remains stable. As costs continue to increase and Intel seeks to capitalize on its&nbsp;refreshed&nbsp;Intel Iris Xe integrated chips, we see Nvidia’s share of overall GPUs to decline and PC shipments&nbsp;CAGR&nbsp;of 3% through 2025.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Gaming PC Share of Market Revenues</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2020</b></p></td>\n  </tr>\n  <tr>\n   <td><p>High End</p></td>\n   <td><p>43%</p></td>\n   <td><p>47%</p></td>\n  </tr>\n  <tr>\n   <td><p>Mid-Range</p></td>\n   <td><p>35%</p></td>\n   <td><p>34%</p></td>\n  </tr>\n  <tr>\n   <td><p>Entry Level</p></td>\n   <td><p>22%</p></td>\n   <td><p>19%</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source:JPR</i></p>\n<p>However, every year, Nvidia releases a new product lineup offering better performance against the previous models. From&nbsp;GPU&nbsp;Check, we obtained the average benchmark score of all GPU models released for each year to obtain an average score and the average performance increase at 22% per year. Then, the average performance increase is compared to the increase in Nvidia’s ASPs for each year to derive the ASP growth to performance growth factor average of 1.1x. This implies that Nvidia’s GPU performance increase can sustain its ASP growth at a factor of 1.1x. We believe this to be fair, given the company’s solid track record of continuous product development. Its next generation of GPUs with the Ampere Next architecture is expected to be launched next year with the anticipated RTX 4000&nbsp;series&nbsp;a successor to its current lineup. One of the major significant upgrades anticipated is the&nbsp;switch&nbsp;towards TSMC’s(NYSE:TSM)N5 process allowing even more GPU cores and transistors than the current Ampere GPUs manufactured on TSMC’s N7 and Samsung(OTC:SSNLF)8N process. Even longer-term, the company’s roadmaps indicate continued innovation with the following generation of ‘Ampere Next Next’ expected in 2024 which could utilize TSMC’s N3 process.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2c0ab0660f3bc9b1ab75ae03877a268d\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Statista, GPU Checker, Khaveen Investments</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/82397f7b6f6e1ac39d9771917dfbfb12\" tg-width=\"455\" tg-height=\"691\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia, Statista, JPR, GPU Checker</span></p>\n<p>All in all, the main driver of gaming revenues is rising prices from continuous product development rather than unit shipments. Nonetheless, the robust demand on GPU shipments seen based on data from JPR indicates a major tailwind in 2021 and forecasted a growth rate of 36% based on the average GPU shipments growth rates of Q1 and Q2. Though we expect growth to normalize, and we based our shipment growth assumption beyond 2021 on a 3.5%&nbsp;CAGR&nbsp;through 2025. Also, accounting for Nvidia’s market share in GPUs, we derived its total unit shipment as well as ASP growth to forecast its total gaming revenue growth.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1cb4092eda26a27e19113abde9ffe4e5\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia, Statista, JPR</span></p>\n<table>\n <tbody></tbody>\n</table>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Annualized Nvidia</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2017</b></p></td>\n   <td><p><b>2018</b></p></td>\n   <td><p><b>2019</b></p></td>\n   <td><p><b>2020</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Shipments<b><i>('a')</i></b></p></td>\n   <td><p>34.76</p></td>\n   <td><p>37.67</p></td>\n   <td><p>33.58</p></td>\n   <td><p>27.68</p></td>\n   <td><p>31.95</p></td>\n   <td><p>43.45</p></td>\n   <td><p>44.97</p></td>\n   <td><p>46.55</p></td>\n   <td><p>48.18</p></td>\n   <td><p>49.86</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Shipments Growth %</b></p></td>\n   <td><p><b>-1%</b></p></td>\n   <td><p><b>8%</b></p></td>\n   <td><p><b>-11%</b></p></td>\n   <td><p><b>-18%</b></p></td>\n   <td><p><b>15%</b></p></td>\n   <td><p><b>36.0%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n  </tr>\n  <tr>\n   <td><p>ASPs<b><i>('b')</i></b></p></td>\n   <td><p>116.8</p></td>\n   <td><p>146.4</p></td>\n   <td><p>186.1</p></td>\n   <td><p>199.4</p></td>\n   <td><p>242.8</p></td>\n   <td><p>300.4</p></td>\n   <td><p>371.5</p></td>\n   <td><p>459.5</p></td>\n   <td><p>568.3</p></td>\n   <td><p>702.8</p></td>\n  </tr>\n  <tr>\n   <td><p><b>ASP Growth %</b></p></td>\n   <td><p><b>45%</b></p></td>\n   <td><p><b>25%</b></p></td>\n   <td><p><b>27%</b></p></td>\n   <td><p><b>7%</b></p></td>\n   <td><p><b>22%</b></p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n  </tr>\n  <tr>\n   <td><p>Gaming Revenues ($ mln)<b><i>('c')</i></b></p></td>\n   <td><p>4,060</p></td>\n   <td><p>5,513</p></td>\n   <td><p>6,250</p></td>\n   <td><p>5,518</p></td>\n   <td><p>7,759</p></td>\n   <td><p>13,051</p></td>\n   <td><p>16,707</p></td>\n   <td><p>21,386</p></td>\n   <td><p>27,377</p></td>\n   <td><p>35,045</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Gaming Revenues Growth %</b></p></td>\n   <td><p><b>44.1%</b></p></td>\n   <td><p><b>35.8%</b></p></td>\n   <td><p><b>13.4%</b></p></td>\n   <td><p><b>-11.7%</b></p></td>\n   <td><p><b>40.6%</b></p></td>\n   <td><p><b>68.2%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>*C = A x B</i></p>\n<p><i>Source: Nvidia,Statista,JPR,WCCF Tech</i></p>\n<p><b>Growth From Arm Regardless of Acquisition Approval</b></p>\n<p>Already a leading developer of GPUs, Nvidia is using its advantage in AI to produce a range of new products. It is acquiring Arm to leverage its CPU capabilities across key industries as seen with theexpansionof its Certified Systems with BlueField DPU SoCsfeaturing22 bln transistors and incorporating 16 Arm-based CPUs along with a 400 gigabits-per-second networking chip. The combination of both company’scapabilitieswith CPU from Arm and Mellanox networking solution for an advanced chip enhanced by is AI Enterprise software suite in partnership with VMware (VMW) vSphere creating a new market for Nvidia. The company has already received strong support fromcustomersincluding Dell Technologies (DELL), Inspur (OTC:INPRF), Lenovo (OTCPK:LNVGY) and Supermicro integrating its DPUs into their systems. Besides that, cloud service providers such as Baidu are using its DPUs to accelerate workloads. Additionally, it is also planning to enter the data centerCPUmarket with Nvidia Grace against incumbents Intel and AMD.</p>\n<p>That said, the deal is pending regulatory approval and management isexpectingto obtain clearance by early 2022. The HHI index is a measure of market competitiveness commonlyusedby governmental bodies such as the FTC and the Department of Justice in M&amp;A deals. It serves as guidance whether a deal would go through, or antitrust action would be taken depending on the concentration level.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Post-Merger HHI</b></p></td>\n   <td><p><b>Change from Premerger HHI</b></p></td>\n   <td><p><b>Antitrust Action</b></p></td>\n  </tr>\n  <tr>\n   <td><p>HHI &lt; 1000</p><p>Not concentrated,</p></td>\n   <td><p>Any</p></td>\n   <td><p>No action likely</p></td>\n  </tr>\n  <tr>\n   <td><p>1000 &lt; HHI &lt; 1800</p><p>Moderately Concentrated,</p></td>\n   <td><p>&gt;100</p></td>\n   <td><p>Moderately Concentrated, Possible Action</p></td>\n  </tr>\n  <tr>\n   <td><p>1800 &lt; HHI</p><p>Highly Concentrated,</p></td>\n   <td><p>&gt;50</p></td>\n   <td><p>Challenge very Likely</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source:OpenTextBC</i></p>\n<p>For the Arm deal, the HHI calculation would be applied on the PC CPU and server market shares only as only Nvidia, AMD and Intel compete within the GPU markets. In Nvidia’s case, the HHI value for both markets would not change as it represents Arm’s share. For example, the PC CPU market HHI is valued at 4,312 in both pre-and post-acquisition.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/25d0e917d9b288aacef22216402afb43\" tg-width=\"906\" tg-height=\"507\" width=\"100%\" height=\"auto\"><span>Source: Statista, PCMag</span></p>\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p>Similarly, the CPU market for servers would derive the same HHI score as the PC CPU market as Nvidia would replace Arm’s share. There is no change to the HHI score of 6,334.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2437536c9440e5a297dd29bf0fa530b8\" tg-width=\"906\" tg-height=\"508\" width=\"100%\" height=\"auto\"><span>Source: Nextplatform, Itcandor</span></p>\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p>If we consider Nvidia’s planned entry to the server CPU market with the launch of Nvidia Grace. Even a small increase in share for Nvidia would lead to a reduction in the HHI value by 188. This highlights Intel’s incredibly high market share. Even if the deal does not go through, the market would still become more competitive. Thus, based on the change in HHI values, Nvidia has a rather unique case for the deal going through. It does not compete with Arm directly PC and server CPU markets, it would just take up Arm’s market share and would not lead to any change to the HHI. In fact, it could make the market even more competitive.</p>\n<blockquote>\n Regulators are \"looking to ensure that their markets are pro-competitive, that this is pro-innovation… and this is good for customers. We can prove that and show that and demonstrate that overwhelmingly, so I have no concerns. -\n <i>Jen-Hsun Huang,CEO of Nvidia</i>\n</blockquote>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Server CPU Market Share Pre-Acquisition</b></p></td>\n   <td><p><b>Share</b></p></td>\n   <td><p><b>s</b></p></td>\n   <td><p><b>s^2</b></p></td>\n   <td><p><b>Server CPU Post Acquisition</b></p></td>\n   <td><p><b>Share</b></p></td>\n   <td><p><b>s</b></p></td>\n   <td><p><b>s^2</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Intel</p></td>\n   <td><p>78%</p></td>\n   <td><p>78</p></td>\n   <td><p>6084</p></td>\n   <td><p>Intel</p></td>\n   <td><p>77%</p></td>\n   <td><p>77</p></td>\n   <td><p>5929</p></td>\n  </tr>\n  <tr>\n   <td><p>AMD</p></td>\n   <td><p>9%</p></td>\n   <td><p>9</p></td>\n   <td><p>81</p></td>\n   <td><p>AMD</p></td>\n   <td><p>8%</p></td>\n   <td><p>8</p></td>\n   <td><p>64</p></td>\n  </tr>\n  <tr>\n   <td><p>Arm</p></td>\n   <td><p>13%</p></td>\n   <td><p>13</p></td>\n   <td><p>169</p></td>\n   <td><p>Arm</p></td>\n   <td><p>12%</p></td>\n   <td><p>12</p></td>\n   <td><p>144</p></td>\n  </tr>\n  <tr>\n   <td><p>-</p></td>\n   <td><p>Nvidia</p></td>\n   <td><p>3%</p></td>\n   <td><p>3</p></td>\n   <td><p>9</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total</b></p></td>\n   <td><p><b>6334</b></p></td>\n   <td><p><b>Total</b></p></td>\n   <td><p><b>6146</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nextplatform, Itcandor, Khaveen Investments</i></p>\n<p>Furthermore, Nvidia’s acquisition comes at a time when M&amp;A activity has risen in the semiconductor market with the average deal value rising by more than 5 times since 2015. Should the deal go through, it would make it the most valuable semicon deal in history at $40 bln. Though, larger deals in the past have broken down due to antitrust. Out of 32 of the largestdealssince 2015, only 3 major deals above $1 bln have fallen apart representing a 9.3% rejection rateincludingKLA (KLAC) and Lam Research (LRCX) merger, Qualcomm (QCOM) acquisition of NXP(NASDAQ:NXPI)and Broadcom’s (AVGO) acquisition of Qualcomm. On the other hand, smaller deals valued at below $1 bln had fewer issues with antitrust. Of the 98 deals, only 4 deals were stopped by regulators which is a 4% rejection rate. This implies that larger deals attract greater scrutiny, which is negative for Nvidia considering it is the highest valued semicon deal.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f15f3619d3f243fbda6bedc37d7bb89c\" tg-width=\"482\" tg-height=\"246\" width=\"100%\" height=\"auto\"><span>Source:Design&amp;Reuse</span></p>\n<p><b>Acquisition Approval Risk</b></p>\n<p>Initially, the expectation of the Arm acquisition deal to go through is by Q1 2022 but subject to regulatory approval from various governmental bodies. There are several arguments that the deal might be delayed or would ultimately fail to get approval. Based on our previousanalysis, we highlighted several headwinds that could arise from regulators across various jurisdictions which include:</p>\n<ul>\n <li>Tensions between the US and China and to protect Arm China against possible intervention by foreign governments in the future</li>\n <li>The intention for the UK to protect its local industry and prioritize local jobs, technological expertise and intellectual property</li>\n <li>European authorities seeking to protect companies’ access to advanced technology and preserve sovereignty and independence</li>\n</ul>\n<p>While management stated its confidence that the Arm deal would go through as planned, these headwinds may pose a risk for the company to meet its deadline. In the Q2 2022 earnings briefing, Nvidia acknowledged the headwinds in obtaining regulatoryapprovalwhich is taking longer than initially thought.</p>\n<blockquote>\n We are working through the regulatory process, although some Arm licensees have expressed concerns and objected to the transaction, and discussions with regulators are taking longer than initially thought\n <i>- Nvidia CFOColette Kress</i>\n</blockquote>\n<p>A breakdown of the agreement could lead to the company incurring fees related to the failure of the acquisition. A couple of months ago, the deal faced several risks of beingdelayedas seen with the European regulator’s reluctance to consider the case until after the summer holidays to gather more information. Nvidia is reported to notify the European Commission in early September as the EU is set tolauncha formal probe into the deal. Also, the US FTC has been seeking to gather more information while Big Techs including Google, Microsoft, and Qualcomm complained about limiting competition. Whereas in China, the company applied with Chinese authorities but appears to be facing tensions with the axed CEO of Arm China which ischallengingthe company for unfair dismissal.</p>\n<p>It is believed that the agreement allows both companies to extend the deal to Q3 2022 but either party could walk away beyond that. That said, even the deal fails to go through, we believe that the company may be able to realize synergies anyway given its strong product development in the pipeline.</p>\n<p><b>Valuation</b></p>\n<p>The company has had an average revenue growth rate of 29.01% in the past 5 years with average gross and net margins of 61.05% and 28.4% respectively. The strength of its earnings and margins is its increasing margin as a result of lower COGS as a percentage of revenues which declined by 3.9% on average in the past 10 years. In comparison to other chipmakers, Nvidia’s gross margins are higher than the industry average of 47.2% and net margins of 13.2% which highlights its superior pricing power which saw ASPs rising by 25% on average in the past 6 years due to its dominance over the discrete GPU market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3bfb1b7c9d729426c5e3c88230e32091\" tg-width=\"640\" tg-height=\"360\" width=\"100%\" height=\"auto\"><span>Source: Nvidia, Khaveen Investments</span></p>\n<p>In terms of cash flows, the company’s 5-year average FCF margin is 15.14% and has steadily increased as it grows its operating cash flows. Its margins appear to be volatile due to its investments in marketable securities with an inflow of $6.6 bln in 2019 and an outflow of $10 bln in 2020. However, excluding this, it has very high levels of cash generation with an adjusted average FCF margin of 29.1%. Thus, it is not only saving up for larger acquisitions in the future, but it indicates its solid profitability and earning power which would make it highly valuable even when growth slows down.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de12e328a7e3922a8cb21f9f53b77128\" tg-width=\"640\" tg-height=\"360\" width=\"100%\" height=\"auto\"><span>Source: Nvidia, Khaveen Investments</span></p>\n<p>Moreover, the company has a strong balance sheet with a debt-to-equity ratio of 0.7x in 2020 with a high EBITDA interest coverage of 114x in the past 5 years indicating its solid ability to repay its debts. In comparison with other chipmaker competitors, its debt-to-equity is significantly lower than the average of 1.35x which highlights its advantage as a fabless chipmaker with a lean balance sheet.</p>\n<p>We valued the company based on a P/S valuation due to its superb revenue growth as a rapidly growing company. To determine the appropriate P/S multiple to use, we calculated the average P/S ratio of the chipmakers according to their 5-year CAGR.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Average Chipmaker Revenue CAGR (5Yrs)</b></p></td>\n   <td><p><b>PS Ratio</b></p></td>\n  </tr>\n  <tr>\n   <td><p>35%+</p></td>\n   <td><p>25.07</p></td>\n  </tr>\n  <tr>\n   <td><p>30%-35%</p></td>\n   <td><p>22.03</p></td>\n  </tr>\n  <tr>\n   <td><p>25%-30%</p></td>\n   <td><p>20.00</p></td>\n  </tr>\n  <tr>\n   <td><p>20%-25%</p></td>\n   <td><p>15.95</p></td>\n  </tr>\n  <tr>\n   <td><p>15% -20%</p></td>\n   <td><p>11.73</p></td>\n  </tr>\n  <tr>\n   <td><p>10%-15%</p></td>\n   <td><p>7.52</p></td>\n  </tr>\n  <tr>\n   <td><p>0%-10%</p></td>\n   <td><p>6.76</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: SeekingAlpha, Khaveen Investments</i></p>\n<p>Firstly, we forecasted its revenues through 2025 without including Arm based on Nvidia growth in gaming and data center as discussed above. The automotive revenues are projected based on a 22% CAGR derived from its $8 bln automotive pipeline assuming it realizes it by 2025. The professional visualization segment is based on the workstation marketCAGRof 9.8% from 2022 through 2025 while the OEM revenues are based on annualized results in 2021.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Nvidia Revenue Forecast Without Arm ($ mln)</b></p></td>\n   <td><p><b>2020</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Gaming</p></td>\n   <td><p>7,759</p></td>\n   <td><p>13,051</p></td>\n   <td><p>16,707</p></td>\n   <td><p>21,386</p></td>\n   <td><p>27,377</p></td>\n   <td><p>35,045</p></td>\n  </tr>\n  <tr>\n   <td><p>Professional Visualization</p></td>\n   <td><p>1,053</p></td>\n   <td><p>1,782</p></td>\n   <td><p>1,957</p></td>\n   <td><p>2,148</p></td>\n   <td><p>2,359</p></td>\n   <td><p>2,590</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Center</p></td>\n   <td><p>6,696</p></td>\n   <td><p>9,649</p></td>\n   <td><p>11,727</p></td>\n   <td><p>14,410</p></td>\n   <td><p>17,452</p></td>\n   <td><p>21,298</p></td>\n  </tr>\n  <tr>\n   <td><p>Automotive</p></td>\n   <td><p>536</p></td>\n   <td><p>654</p></td>\n   <td><p>798</p></td>\n   <td><p>973</p></td>\n   <td><p>1,187</p></td>\n   <td><p>1,449</p></td>\n  </tr>\n  <tr>\n   <td><p>OEM and Other</p></td>\n   <td><p>631</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total</b></p></td>\n   <td><p><b>16,675</b></p></td>\n   <td><p><b>26,608</b></p></td>\n   <td><p><b>32,660</b></p></td>\n   <td><p><b>40,390</b></p></td>\n   <td><p><b>49,847</b></p></td>\n   <td><p><b>61,853</b></p></td>\n  </tr>\n  <tr>\n   <td><p><b>Growth %</b></p></td>\n   <td><p><b>53%</b></p></td>\n   <td><p>59.6%</p></td>\n   <td><p>22.7%</p></td>\n   <td><p>23.7%</p></td>\n   <td><p>23.4%</p></td>\n   <td><p>24.1%</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nvidia, Khaveen Investments</i></p>\n<p>In addition, we previously computed the potentialsynergiesfrom Arm should the deal go through as planned in 2022. Furthermore, Arm’s revenues are also included in the forecast.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Synergies ($ mln)</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Gaming</p></td>\n   <td><p>742</p></td>\n   <td><p>1,993</p></td>\n   <td><p>4,018</p></td>\n   <td><p>6,327</p></td>\n  </tr>\n  <tr>\n   <td><p>Professional Visualization</p></td>\n   <td><p>90</p></td>\n   <td><p>205</p></td>\n   <td><p>351</p></td>\n   <td><p>489</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Center</p></td>\n   <td><p>459</p></td>\n   <td><p>1,406</p></td>\n   <td><p>3,230</p></td>\n   <td><p>5,694</p></td>\n  </tr>\n  <tr>\n   <td><p>Automotive</p></td>\n   <td><p>25</p></td>\n   <td><p>69</p></td>\n   <td><p>140</p></td>\n   <td><p>207</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total Synergies</b></p></td>\n   <td><p><b>1,316</b></p></td>\n   <td><p><b>3,673</b></p></td>\n   <td><p><b>7,739</b></p></td>\n   <td><p><b>12,717</b></p></td>\n  </tr>\n  <tr>\n   <td><p><b>Arm Revenues</b></p></td>\n   <td><p><b>2,145</b></p></td>\n   <td><p><b>2,280</b></p></td>\n   <td><p><b>2,423</b></p></td>\n   <td><p><b>2,576</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nvidia, Khaveen Investments</i></p>\n<p><b>Bear Case</b></p>\n<p>The bear case valuation assumes a 25% probability of the deal going through should the company face challenges from antitrust regulators. Also, the bear case assumes 80% of synergies and Arm revenues would be realized.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Bear Case</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Nvidia revenues ($ mln)</p></td>\n   <td><p>26,608</p></td>\n   <td><p>33,995</p></td>\n   <td><p>42,265</p></td>\n   <td><p>52,607</p></td>\n   <td><p>65,685</p></td>\n  </tr>\n  <tr>\n   <td><p>Growth %</p></td>\n   <td><p>59.6%</p></td>\n   <td><p>27.8%</p></td>\n   <td><p>24.3%</p></td>\n   <td><p>24.5%</p></td>\n   <td><p>24.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>P/S Ratio</p></td>\n   <td><p>25.07</p></td>\n   <td><p>20.00</p></td>\n   <td><p>15.95</p></td>\n   <td><p>15.95</p></td>\n   <td><p>15.95</p></td>\n  </tr>\n  <tr>\n   <td><p>Valuation ($ mln)</p></td>\n   <td><p>667,068</p></td>\n   <td><p>680,022</p></td>\n   <td><p>674,119</p></td>\n   <td><p>839,081</p></td>\n   <td><p>1,047,673</p></td>\n  </tr>\n  <tr>\n   <td><p>Number of shares outstanding ('mln')</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Target Share Price</b></p></td>\n   <td><p><b>$267.90</b></p></td>\n   <td><p><b>$273.10</b></p></td>\n   <td><p><b>$270.73</b></p></td>\n   <td><p><b>$336.98</b></p></td>\n   <td><p><b>$420.75</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Current Share Price</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Upside</b></p></td>\n   <td><p><b>19.6%</b></p></td>\n   <td><p><b>21.9%</b></p></td>\n   <td><p><b>20.9%</b></p></td>\n   <td><p><b>50.5%</b></p></td>\n   <td><p><b>87.9%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p><b>Base Case</b></p>\n<p>Whereas the base case assumes a 50% probability on the basis of its continued progress to complete the deal but also the possible delays due to regulators requiring more information. Also, we assume 100% of synergies to be realised through the acquisition.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Base Case</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Nvidia revenues ($ mln)</p></td>\n   <td><p>26,608</p></td>\n   <td><p>34,927</p></td>\n   <td><p>43,937</p></td>\n   <td><p>55,534</p></td>\n   <td><p>70,144</p></td>\n  </tr>\n  <tr>\n   <td><p>Growth %</p></td>\n   <td><p>59.6%</p></td>\n   <td><p>31.3%</p></td>\n   <td><p>25.8%</p></td>\n   <td><p>26.4%</p></td>\n   <td><p>26.3%</p></td>\n  </tr>\n  <tr>\n   <td><p>P/S Ratio</p></td>\n   <td><p>25.07</p></td>\n   <td><p>22.03</p></td>\n   <td><p>20.00</p></td>\n   <td><p>20.00</p></td>\n   <td><p>20.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Valuation ($ mln)</p></td>\n   <td><p>667,068</p></td>\n   <td><p>769,432</p></td>\n   <td><p>878,877</p></td>\n   <td><p>1,110,874</p></td>\n   <td><p>1,403,114</p></td>\n  </tr>\n  <tr>\n   <td><p>Number of shares outstanding ('mln')</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Target Share Price</b></p></td>\n   <td><p><b>$267.90</b></p></td>\n   <td><p><b>$309.01</b></p></td>\n   <td><p><b>$352.96</b></p></td>\n   <td><p><b>$446.13</b></p></td>\n   <td><p><b>$563.50</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Current Share Price</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Upside</b></p></td>\n   <td><p><b>19.6%</b></p></td>\n   <td><p><b>38.0%</b></p></td>\n   <td><p><b>57.6%</b></p></td>\n   <td><p><b>99.2%</b></p></td>\n   <td><p><b>151.6%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p><b>Bull Case</b></p>\n<p>Finally, the bull case assumes a 100% probability as we believe the acquisition would not lead to greater market concentration but rather a more competitive one as its case for the deal to go through. Also, we assume 120% of synergies to be realised through the acquisition.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Bull Case</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Nvidia revenues ($ mln)</p></td>\n   <td><p>26,608</p></td>\n   <td><p>36,384</p></td>\n   <td><p>47,078</p></td>\n   <td><p>61,558</p></td>\n   <td><p>79,690</p></td>\n  </tr>\n  <tr>\n   <td><p>Growth %</p></td>\n   <td><p>59.6%</p></td>\n   <td><p>36.7%</p></td>\n   <td><p>29.4%</p></td>\n   <td><p>30.8%</p></td>\n   <td><p>29.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>P/S Ratio</p></td>\n   <td><p>25.07</p></td>\n   <td><p>25.07</p></td>\n   <td><p>20.00</p></td>\n   <td><p>22.03</p></td>\n   <td><p>20.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Valuation ($ mln)</p></td>\n   <td><p>667,068</p></td>\n   <td><p>912,153</p></td>\n   <td><p>941,714</p></td>\n   <td><p>1,356,113</p></td>\n   <td><p>1,594,068</p></td>\n  </tr>\n  <tr>\n   <td><p>Number of shares outstanding ('mln')</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Target Share Price</b></p></td>\n   <td><p><b>$267.90</b></p></td>\n   <td><p><b>$366.33</b></p></td>\n   <td><p><b>$378.20</b></p></td>\n   <td><p><b>$544.62</b></p></td>\n   <td><p><b>$640.19</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Current Share Price</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Upside</b></p></td>\n   <td><p><b>19.6%</b></p></td>\n   <td><p><b>63.6%</b></p></td>\n   <td><p><b>68.9%</b></p></td>\n   <td><p><b>143.2%</b></p></td>\n   <td><p><b>185.8%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8db79f76b76c1204c2fcb9cbcc04f1e2\" tg-width=\"640\" tg-height=\"360\" width=\"100%\" height=\"auto\"><span>Source: Khaveen Investments</span></p>\n<p>Our 1-year average price target for the bear, base and bull case is $270.50, $288.45, $317.11 with an upside of 20.8%, 28.8% and 41.6% respectively.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>1-year Average Price Target</b></p></td>\n   <td><p><b>Target Price</b></p></td>\n   <td><p><b>Current Price</b></p></td>\n   <td><p><b>Upside</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Bear Case</p></td>\n   <td><p>$270.50</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>20.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>Base Case</p></td>\n   <td><p>$288.45</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>28.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>Bull Case</p></td>\n   <td><p>$317.11</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>41.6%</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p><b>Verdict</b></p>\n<p>To sum it up, the company’s growth prospects are supported by its solid innovative capabilities leading to its AI leadership and GPU performance excellence. Highlighting the advancement of its AI strategy around the data center markets, we believe it can capitalize on the booming cloud growth and increasing capex share to benefit its data center revenues. Additionally, despite the flattish shipment growth, we believe it can continue to grow its gaming revenues highlighting its consistent performance improvement with its next-gen Ampere Next based models. As it advances its AI strategy, it is looking to leverage Arm’s incredible CPU IP across its latest product R&amp;D for the data center for future launches. Compared to our previous analysis, we applied a quantitative P/S multiple to reflect its superb growth outlook as one of the highest in the industry. Based on our valuation model using a P/S multiple, its projected revenue growth rate of 59.6% in 2021 driven by strong growth momentum across gaming and data center segments provides an upside opportunity of 28.8% as its stock price has already increased by 71% year to date. Overall, we rate the company as a<i>Buy</i>with a target price of<i>$288.45.</i></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>Nvidia: AI Leadership Key To Continuous Double-Digit Stock Price Growth</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\">\nNvidia: AI Leadership Key To Continuous Double-Digit Stock Price Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-07 11:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4453780-nvidia-ai-leadership-key-to-continuous-double-digit-stock-price-growth><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe company’s share price has surged 42% along with its revenues at 54%, we aimed to determine if the share price has reached its peak or if there is more.\nIt is advancing its AI leadership ...</p>\n\n<a href=\"https://seekingalpha.com/article/4453780-nvidia-ai-leadership-key-to-continuous-double-digit-stock-price-growth\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/article/4453780-nvidia-ai-leadership-key-to-continuous-double-digit-stock-price-growth","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170846245","content_text":"Summary\n\nThe company’s share price has surged 42% along with its revenues at 54%, we aimed to determine if the share price has reached its peak or if there is more.\nIt is advancing its AI leadership to capture growth opportunities in the booming cloud market fueled by the rising volume of data.\nWe determine that pricing increase rather than shipment growth was the key to its PC GPU sales, and its pricing power was due to its performance improvements with every new.\nDespite the company’s Arm acquisition still pending regulatory approval, it has gone ahead in advancing its product development with Arm’s architecture, with its new BlueField DPU and Nvidia Grace.\n\nDavid Becker/Getty Images News\nSince our previous analysis on Nvidia Corp (NVDA), the company’s full-year revenues have increased by 53% in 2020 which has exceeded our expectations of 43% growth with higher GPU sales across PC and data center markets. As such, the company’s stock price also surges well past our previous price target of $578.39. In this analysis, we determine if its impressive growth can continue and justify a higher valuation for the company.\nThe main segments of the company contributing to its high growth were the Data center & Gaming segment representing 40.2% and 46.5% of its total revenues respectively. We identified Nvidia’s AI leadership as a key advantage fuelling the growth across its data center segment capitalizing on rising data creation from AI, HPC and IoT applications with its AI leadership through its innovative products catered towards the booming cloud market. Besides data centers, gaming continues to be a key driver with its continuous performance improvements backed by new releases of next-generation GPU models contributing to rising pricing power to maintain ASP growth.\nFinally, we followed up on the Arm acquisition which is slated by management to conclude by early 2022. Through the acquisition of Arm, it not only earns incremental licensing revenue but also the ability to further leverage its CPU capabilities to develop and expand its range of Arm-based products including upcoming CPUs launches and the latest DPU SoCs. As the company is in the progress of obtaining regulatory clearance, we analysed the effect of the acquisition on the market competitiveness of the CPU markets.\nSource: Nvidia\nAI Leadership ensures High Growth Across Key Data Centre Segment\nThe increasing volumes of data created will fuel data center growth over the next decade. An important aspect of this will be machine-to-machine and Artificial Intelligence ('AI') technologies that enable massive volumes of data to be processed with ease and speed. AI data processing is made possible by a system of linked supercomputers that are used to process complex workloads by running millions of simulations and financial models to generate predictions from massive volumes of data by identifying a pattern and then replicating that pattern identification across other data. As can be imagined,AI computing would require massive computing infrastructure.\nDriven by the advent of AI, HPC, IoT and edge computing,data creation is projected to grow at a rate of around 23% in the next 5 years. This would require greater cloud infrastructure to handle the increase in data. To determine the growth in cloud infrastructure revenues, we identified the factor of correlation of cloud infrastructure revenues to data volume growth over the past 10 years. The factor identified of 1.65x was applied to data volume growth projections to estimate the cloud infrastructure market growth rate to the year 2025.\nSource: Statista, Khaveen Investments\n\n\n\nVolume of Data Worldwide\n2016\n2017\n2018\n2019\n2020\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nCloud Infrastructure Market Revenues ($ bln)\n32\n46.5\n69\n96\n129.5\n178.9\n246.3\n342.9\n470.6\n650.6\n\n\nCloud Infrastructure Market Revenue Growth %('a')\n52%\n45%\n48%\n39%\n35%\n38%\n38%\n39%\n37%\n38%\n\n\nData Volume (ZB)\n18\n26\n33\n41\n64.2\n79\n97\n120\n147\n181\n\n\nData Volume Growth %('b')\n16%\n44%\n27%\n24%\n57%\n23%\n23%\n24%\n23%\n23%\n\n\nCloud Infrastructure Revenue Growth/Data Volume Growth Factor('c')\n3.25\n1.02\n1.80\n1.61\n0.62\n1.65\n1.65\n1.65\n1.65\n1.65\n\n\n\n*A =C x B\nSource:Statista, Khaveen Investments\nAs mentioned, Artificial Intelligence ('AI') will play a crucial role in synthesizing and storing these waves of data. The race of AI computing technology is being led by semiconductor companies that create the chips that enable technology across all segments of the market. As such, innovations in AI have been especially expeditious in the semiconductor industry with several companies such as Nvidia, Intel and AMD developing significant AI capabilities in their chip systems.\nWe view Nvidia in particular, as not just an AI leader of the semiconductor industry, but as the AI leader of the world. Nvidia aims to develop AI solutions for every industry and is already well on the way there. It is the leader in autonomous vehicles, with its AI-enabled Advanced Driver Assistance Systems (ADAS) being developed for global automakers, having already secured $8 bln in automotive design wins. Notwithstanding, Nvidia’s automotive segment only represents 3.2% of its revenues. Nvidia’s key data center segment that represents 40.2% of its revenues, is where the company’s AI leadership is really seen. The company recently announced that its AI-powered DGX server has been adopted by the top 10 Aerospace companies, 6 of the top 10 US banks, and 8 out of the 10 top global telcos.\nSource: Statista\nAs data volume and workload grow, it gets more difficult to transmit the data. To tackle this, enterprises are expected to bring applications and storage closer to themselves rather than transporting resources to a central location. As a result, large enterprises are more likely to build on-site data storage centers which require the use of an on-site fully built server system. This is where Nvidia’s latest DGX server comes into play. To put things in perspective, these aren’t the $500 GPU chipsets used in PCs. The GPU-enabled DGX servers are provided on a subscription model, with a single one costing a massive $4.3 million a year. As to the capability of DGX, its initial design was reported to have one of the world’s fastest AI workload speeds by the National Energy Research Scientific Computer Center (NERSC). Given both the first mover and technological advantage that Nvidia has, we see the company in a prime position to capture the on-premises server market in addition to the cloud server market. As such we expect the company’s data segment revenue as a percentage of total cloud capex to continue increasing at 3%. This was derived through our calculations by first estimating the total capex by the top 4 cloud providers (Amazon (AMZN), Microsoft (MSFT), Google (GOOG), Alibaba (BABA)) and adjusted by its market share as the total cloud capex.\n\n\n\nCloud Providers Capex ($ mln)\n2011\n2012\n2013\n2014\n2015\n2016\n2017\n2018\n2019\n2020\n\n\nAmazon\n3,785\n3,444\n4,893\n5,387\n7,804\n11,955\n13,427\n16,861\n40,140\n45,427\n\n\nMicrosoft\n2,355\n2,305\n4,257\n5,485\n5,944\n8,343\n8,129\n11,632\n13,925\n15,441\n\n\nGoogle\n3,438\n3,273\n7,358\n11,014\n9,950\n10,212\n13,184\n25,139\n23,548\n22,281\n\n\nAlibaba\n403\n768\n1,243\n1,680\n1,598\n3,129\n5,287\n4,596\n\n\nTotal (Top 4)\n9,578\n9,022\n16,911\n22,654\n24,941\n32,190\n36,338\n56,761\n82,900\n87,745\n\n\n\nSource: Nvidia, Amazon, Microsoft, Google, Alibaba, Khaveen Investments\nWe then estimated the total cloud capex growth rate by basing it on the forecasted growth in the cloud infrastructure revenues on a 10-year average factor of 0.68x. With the growth in cloud capex, we computed Nvidia’s share of capex spending which has been growing at 3% on average in the past 7 years. Nvidia’s AI-powered GPU accelerators are deployed in more than 97% of all AI-accelerator hardware used by the top 4 cloud providers (Amazon, Google, Microsoft, and Alibaba). These top 4 cloud providers alone control 67%. Applying our estimated share of capex, we forecasted its total data center revenues growing at around 30%.\nSource: Nvidia, Amazon, Microsoft, Google, Alibaba, Statista, Khaveen Investments\nContinuous Performance Excellence Leads to Continuous Pricing Premium\nNvidia’s Gaming segment revenue growth has averaged a stellar 27% in the past 7 years. The main contributor is rising ASPs which averaged 27% whereas shipments growth was flat. Although Nvidia accounts for 81% of the discrete GPU market share and steadily rising, its market share in the overall GPU market has declined slightly against AMD (AMD) and Intel (INTC) who also manufactures integrated GPUs but is planning to develop its Alchemist product while Nvidia only produces discrete chips.\nSource: Statista, JPR, Khaveen Investments\nBased on its stagnant share of the overall GPU market, this implies that demand for the integrated GPU market continues to remain strong. PC shipments grew at -0.8% within the same period. Whereas GPU unit shipments were lower than the PC shipment growth with an average of -2%. One of the attributable factors is the rising GPU costs relative to stagnant PC prices. In the past 5 years, Nvidia’s average ASP as a percentage of PC ASP has risen from 19% to 38%, making it harder for PC makers to cater to the mid-range and entry-level markets which presence remains stable. As costs continue to increase and Intel seeks to capitalize on its refreshed Intel Iris Xe integrated chips, we see Nvidia’s share of overall GPUs to decline and PC shipments CAGR of 3% through 2025.\n\n\n\nGaming PC Share of Market Revenues\n2016\n2020\n\n\nHigh End\n43%\n47%\n\n\nMid-Range\n35%\n34%\n\n\nEntry Level\n22%\n19%\n\n\n\nSource:JPR\nHowever, every year, Nvidia releases a new product lineup offering better performance against the previous models. From GPU Check, we obtained the average benchmark score of all GPU models released for each year to obtain an average score and the average performance increase at 22% per year. Then, the average performance increase is compared to the increase in Nvidia’s ASPs for each year to derive the ASP growth to performance growth factor average of 1.1x. This implies that Nvidia’s GPU performance increase can sustain its ASP growth at a factor of 1.1x. We believe this to be fair, given the company’s solid track record of continuous product development. Its next generation of GPUs with the Ampere Next architecture is expected to be launched next year with the anticipated RTX 4000 series a successor to its current lineup. One of the major significant upgrades anticipated is the switch towards TSMC’s(NYSE:TSM)N5 process allowing even more GPU cores and transistors than the current Ampere GPUs manufactured on TSMC’s N7 and Samsung(OTC:SSNLF)8N process. Even longer-term, the company’s roadmaps indicate continued innovation with the following generation of ‘Ampere Next Next’ expected in 2024 which could utilize TSMC’s N3 process.\nSource: Statista, GPU Checker, Khaveen Investments\nSource: Nvidia, Statista, JPR, GPU Checker\nAll in all, the main driver of gaming revenues is rising prices from continuous product development rather than unit shipments. Nonetheless, the robust demand on GPU shipments seen based on data from JPR indicates a major tailwind in 2021 and forecasted a growth rate of 36% based on the average GPU shipments growth rates of Q1 and Q2. Though we expect growth to normalize, and we based our shipment growth assumption beyond 2021 on a 3.5% CAGR through 2025. Also, accounting for Nvidia’s market share in GPUs, we derived its total unit shipment as well as ASP growth to forecast its total gaming revenue growth.\nSource: Nvidia, Statista, JPR\n\n\n\n\n\n\nAnnualized Nvidia\n2016\n2017\n2018\n2019\n2020\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nShipments('a')\n34.76\n37.67\n33.58\n27.68\n31.95\n43.45\n44.97\n46.55\n48.18\n49.86\n\n\nShipments Growth %\n-1%\n8%\n-11%\n-18%\n15%\n36.0%\n3.5%\n3.5%\n3.5%\n3.5%\n\n\nASPs('b')\n116.8\n146.4\n186.1\n199.4\n242.8\n300.4\n371.5\n459.5\n568.3\n702.8\n\n\nASP Growth %\n45%\n25%\n27%\n7%\n22%\n24%\n24%\n24%\n24%\n24%\n\n\nGaming Revenues ($ mln)('c')\n4,060\n5,513\n6,250\n5,518\n7,759\n13,051\n16,707\n21,386\n27,377\n35,045\n\n\nGaming Revenues Growth %\n44.1%\n35.8%\n13.4%\n-11.7%\n40.6%\n68.2%\n28.0%\n28.0%\n28.0%\n28.0%\n\n\n\n*C = A x B\nSource: Nvidia,Statista,JPR,WCCF Tech\nGrowth From Arm Regardless of Acquisition Approval\nAlready a leading developer of GPUs, Nvidia is using its advantage in AI to produce a range of new products. It is acquiring Arm to leverage its CPU capabilities across key industries as seen with theexpansionof its Certified Systems with BlueField DPU SoCsfeaturing22 bln transistors and incorporating 16 Arm-based CPUs along with a 400 gigabits-per-second networking chip. The combination of both company’scapabilitieswith CPU from Arm and Mellanox networking solution for an advanced chip enhanced by is AI Enterprise software suite in partnership with VMware (VMW) vSphere creating a new market for Nvidia. The company has already received strong support fromcustomersincluding Dell Technologies (DELL), Inspur (OTC:INPRF), Lenovo (OTCPK:LNVGY) and Supermicro integrating its DPUs into their systems. Besides that, cloud service providers such as Baidu are using its DPUs to accelerate workloads. Additionally, it is also planning to enter the data centerCPUmarket with Nvidia Grace against incumbents Intel and AMD.\nThat said, the deal is pending regulatory approval and management isexpectingto obtain clearance by early 2022. The HHI index is a measure of market competitiveness commonlyusedby governmental bodies such as the FTC and the Department of Justice in M&A deals. It serves as guidance whether a deal would go through, or antitrust action would be taken depending on the concentration level.\n\n\n\nPost-Merger HHI\nChange from Premerger HHI\nAntitrust Action\n\n\nHHI < 1000Not concentrated,\nAny\nNo action likely\n\n\n1000 < HHI < 1800Moderately Concentrated,\n>100\nModerately Concentrated, Possible Action\n\n\n1800 < HHIHighly Concentrated,\n>50\nChallenge very Likely\n\n\n\nSource:OpenTextBC\nFor the Arm deal, the HHI calculation would be applied on the PC CPU and server market shares only as only Nvidia, AMD and Intel compete within the GPU markets. In Nvidia’s case, the HHI value for both markets would not change as it represents Arm’s share. For example, the PC CPU market HHI is valued at 4,312 in both pre-and post-acquisition.\nSource: Statista, PCMag\n\n\n\n\n\nSimilarly, the CPU market for servers would derive the same HHI score as the PC CPU market as Nvidia would replace Arm’s share. There is no change to the HHI score of 6,334.\nSource: Nextplatform, Itcandor\n\n\n\n\n\nIf we consider Nvidia’s planned entry to the server CPU market with the launch of Nvidia Grace. Even a small increase in share for Nvidia would lead to a reduction in the HHI value by 188. This highlights Intel’s incredibly high market share. Even if the deal does not go through, the market would still become more competitive. Thus, based on the change in HHI values, Nvidia has a rather unique case for the deal going through. It does not compete with Arm directly PC and server CPU markets, it would just take up Arm’s market share and would not lead to any change to the HHI. In fact, it could make the market even more competitive.\n\n Regulators are \"looking to ensure that their markets are pro-competitive, that this is pro-innovation… and this is good for customers. We can prove that and show that and demonstrate that overwhelmingly, so I have no concerns. -\n Jen-Hsun Huang,CEO of Nvidia\n\n\n\n\nServer CPU Market Share Pre-Acquisition\nShare\ns\ns^2\nServer CPU Post Acquisition\nShare\ns\ns^2\n\n\nIntel\n78%\n78\n6084\nIntel\n77%\n77\n5929\n\n\nAMD\n9%\n9\n81\nAMD\n8%\n8\n64\n\n\nArm\n13%\n13\n169\nArm\n12%\n12\n144\n\n\n-\nNvidia\n3%\n3\n9\n\n\nTotal\n6334\nTotal\n6146\n\n\n\nSource: Nextplatform, Itcandor, Khaveen Investments\nFurthermore, Nvidia’s acquisition comes at a time when M&A activity has risen in the semiconductor market with the average deal value rising by more than 5 times since 2015. Should the deal go through, it would make it the most valuable semicon deal in history at $40 bln. Though, larger deals in the past have broken down due to antitrust. Out of 32 of the largestdealssince 2015, only 3 major deals above $1 bln have fallen apart representing a 9.3% rejection rateincludingKLA (KLAC) and Lam Research (LRCX) merger, Qualcomm (QCOM) acquisition of NXP(NASDAQ:NXPI)and Broadcom’s (AVGO) acquisition of Qualcomm. On the other hand, smaller deals valued at below $1 bln had fewer issues with antitrust. Of the 98 deals, only 4 deals were stopped by regulators which is a 4% rejection rate. This implies that larger deals attract greater scrutiny, which is negative for Nvidia considering it is the highest valued semicon deal.\nSource:Design&Reuse\nAcquisition Approval Risk\nInitially, the expectation of the Arm acquisition deal to go through is by Q1 2022 but subject to regulatory approval from various governmental bodies. There are several arguments that the deal might be delayed or would ultimately fail to get approval. Based on our previousanalysis, we highlighted several headwinds that could arise from regulators across various jurisdictions which include:\n\nTensions between the US and China and to protect Arm China against possible intervention by foreign governments in the future\nThe intention for the UK to protect its local industry and prioritize local jobs, technological expertise and intellectual property\nEuropean authorities seeking to protect companies’ access to advanced technology and preserve sovereignty and independence\n\nWhile management stated its confidence that the Arm deal would go through as planned, these headwinds may pose a risk for the company to meet its deadline. In the Q2 2022 earnings briefing, Nvidia acknowledged the headwinds in obtaining regulatoryapprovalwhich is taking longer than initially thought.\n\n We are working through the regulatory process, although some Arm licensees have expressed concerns and objected to the transaction, and discussions with regulators are taking longer than initially thought\n - Nvidia CFOColette Kress\n\nA breakdown of the agreement could lead to the company incurring fees related to the failure of the acquisition. A couple of months ago, the deal faced several risks of beingdelayedas seen with the European regulator’s reluctance to consider the case until after the summer holidays to gather more information. Nvidia is reported to notify the European Commission in early September as the EU is set tolauncha formal probe into the deal. Also, the US FTC has been seeking to gather more information while Big Techs including Google, Microsoft, and Qualcomm complained about limiting competition. Whereas in China, the company applied with Chinese authorities but appears to be facing tensions with the axed CEO of Arm China which ischallengingthe company for unfair dismissal.\nIt is believed that the agreement allows both companies to extend the deal to Q3 2022 but either party could walk away beyond that. That said, even the deal fails to go through, we believe that the company may be able to realize synergies anyway given its strong product development in the pipeline.\nValuation\nThe company has had an average revenue growth rate of 29.01% in the past 5 years with average gross and net margins of 61.05% and 28.4% respectively. The strength of its earnings and margins is its increasing margin as a result of lower COGS as a percentage of revenues which declined by 3.9% on average in the past 10 years. In comparison to other chipmakers, Nvidia’s gross margins are higher than the industry average of 47.2% and net margins of 13.2% which highlights its superior pricing power which saw ASPs rising by 25% on average in the past 6 years due to its dominance over the discrete GPU market.\nSource: Nvidia, Khaveen Investments\nIn terms of cash flows, the company’s 5-year average FCF margin is 15.14% and has steadily increased as it grows its operating cash flows. Its margins appear to be volatile due to its investments in marketable securities with an inflow of $6.6 bln in 2019 and an outflow of $10 bln in 2020. However, excluding this, it has very high levels of cash generation with an adjusted average FCF margin of 29.1%. Thus, it is not only saving up for larger acquisitions in the future, but it indicates its solid profitability and earning power which would make it highly valuable even when growth slows down.\nSource: Nvidia, Khaveen Investments\nMoreover, the company has a strong balance sheet with a debt-to-equity ratio of 0.7x in 2020 with a high EBITDA interest coverage of 114x in the past 5 years indicating its solid ability to repay its debts. In comparison with other chipmaker competitors, its debt-to-equity is significantly lower than the average of 1.35x which highlights its advantage as a fabless chipmaker with a lean balance sheet.\nWe valued the company based on a P/S valuation due to its superb revenue growth as a rapidly growing company. To determine the appropriate P/S multiple to use, we calculated the average P/S ratio of the chipmakers according to their 5-year CAGR.\n\n\n\nAverage Chipmaker Revenue CAGR (5Yrs)\nPS Ratio\n\n\n35%+\n25.07\n\n\n30%-35%\n22.03\n\n\n25%-30%\n20.00\n\n\n20%-25%\n15.95\n\n\n15% -20%\n11.73\n\n\n10%-15%\n7.52\n\n\n0%-10%\n6.76\n\n\n\nSource: SeekingAlpha, Khaveen Investments\nFirstly, we forecasted its revenues through 2025 without including Arm based on Nvidia growth in gaming and data center as discussed above. The automotive revenues are projected based on a 22% CAGR derived from its $8 bln automotive pipeline assuming it realizes it by 2025. The professional visualization segment is based on the workstation marketCAGRof 9.8% from 2022 through 2025 while the OEM revenues are based on annualized results in 2021.\n\n\n\nNvidia Revenue Forecast Without Arm ($ mln)\n2020\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nGaming\n7,759\n13,051\n16,707\n21,386\n27,377\n35,045\n\n\nProfessional Visualization\n1,053\n1,782\n1,957\n2,148\n2,359\n2,590\n\n\nData Center\n6,696\n9,649\n11,727\n14,410\n17,452\n21,298\n\n\nAutomotive\n536\n654\n798\n973\n1,187\n1,449\n\n\nOEM and Other\n631\n1,472\n1,472\n1,472\n1,472\n1,472\n\n\nTotal\n16,675\n26,608\n32,660\n40,390\n49,847\n61,853\n\n\nGrowth %\n53%\n59.6%\n22.7%\n23.7%\n23.4%\n24.1%\n\n\n\nSource: Nvidia, Khaveen Investments\nIn addition, we previously computed the potentialsynergiesfrom Arm should the deal go through as planned in 2022. Furthermore, Arm’s revenues are also included in the forecast.\n\n\n\nSynergies ($ mln)\n2022F\n2023F\n2024F\n2025F\n\n\nGaming\n742\n1,993\n4,018\n6,327\n\n\nProfessional Visualization\n90\n205\n351\n489\n\n\nData Center\n459\n1,406\n3,230\n5,694\n\n\nAutomotive\n25\n69\n140\n207\n\n\nTotal Synergies\n1,316\n3,673\n7,739\n12,717\n\n\nArm Revenues\n2,145\n2,280\n2,423\n2,576\n\n\n\nSource: Nvidia, Khaveen Investments\nBear Case\nThe bear case valuation assumes a 25% probability of the deal going through should the company face challenges from antitrust regulators. Also, the bear case assumes 80% of synergies and Arm revenues would be realized.\n\n\n\nBear Case\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nNvidia revenues ($ mln)\n26,608\n33,995\n42,265\n52,607\n65,685\n\n\nGrowth %\n59.6%\n27.8%\n24.3%\n24.5%\n24.9%\n\n\nP/S Ratio\n25.07\n20.00\n15.95\n15.95\n15.95\n\n\nValuation ($ mln)\n667,068\n680,022\n674,119\n839,081\n1,047,673\n\n\nNumber of shares outstanding ('mln')\n2,490\n2,490\n2,490\n2,490\n2,490\n\n\nTarget Share Price\n$267.90\n$273.10\n$270.73\n$336.98\n$420.75\n\n\nCurrent Share Price\n$223.96\n$223.96\n$223.96\n$223.96\n$223.96\n\n\nUpside\n19.6%\n21.9%\n20.9%\n50.5%\n87.9%\n\n\n\nSource: Khaveen Investments\nBase Case\nWhereas the base case assumes a 50% probability on the basis of its continued progress to complete the deal but also the possible delays due to regulators requiring more information. Also, we assume 100% of synergies to be realised through the acquisition.\n\n\n\nBase Case\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nNvidia revenues ($ mln)\n26,608\n34,927\n43,937\n55,534\n70,144\n\n\nGrowth %\n59.6%\n31.3%\n25.8%\n26.4%\n26.3%\n\n\nP/S Ratio\n25.07\n22.03\n20.00\n20.00\n20.00\n\n\nValuation ($ mln)\n667,068\n769,432\n878,877\n1,110,874\n1,403,114\n\n\nNumber of shares outstanding ('mln')\n2,490\n2,490\n2,490\n2,490\n2,490\n\n\nTarget Share Price\n$267.90\n$309.01\n$352.96\n$446.13\n$563.50\n\n\nCurrent Share Price\n$223.96\n$223.96\n$223.96\n$223.96\n$223.96\n\n\nUpside\n19.6%\n38.0%\n57.6%\n99.2%\n151.6%\n\n\n\nSource: Khaveen Investments\nBull Case\nFinally, the bull case assumes a 100% probability as we believe the acquisition would not lead to greater market concentration but rather a more competitive one as its case for the deal to go through. Also, we assume 120% of synergies to be realised through the acquisition.\n\n\n\nBull Case\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nNvidia revenues ($ mln)\n26,608\n36,384\n47,078\n61,558\n79,690\n\n\nGrowth %\n59.6%\n36.7%\n29.4%\n30.8%\n29.5%\n\n\nP/S Ratio\n25.07\n25.07\n20.00\n22.03\n20.00\n\n\nValuation ($ mln)\n667,068\n912,153\n941,714\n1,356,113\n1,594,068\n\n\nNumber of shares outstanding ('mln')\n2,490\n2,490\n2,490\n2,490\n2,490\n\n\nTarget Share Price\n$267.90\n$366.33\n$378.20\n$544.62\n$640.19\n\n\nCurrent Share Price\n$223.96\n$223.96\n$223.96\n$223.96\n$223.96\n\n\nUpside\n19.6%\n63.6%\n68.9%\n143.2%\n185.8%\n\n\n\nSource: Khaveen Investments\nSource: Khaveen Investments\nOur 1-year average price target for the bear, base and bull case is $270.50, $288.45, $317.11 with an upside of 20.8%, 28.8% and 41.6% respectively.\n\n\n\n1-year Average Price Target\nTarget Price\nCurrent Price\nUpside\n\n\nBear Case\n$270.50\n$223.96\n20.8%\n\n\nBase Case\n$288.45\n$223.96\n28.8%\n\n\nBull Case\n$317.11\n$223.96\n41.6%\n\n\n\nSource: Khaveen Investments\nVerdict\nTo sum it up, the company’s growth prospects are supported by its solid innovative capabilities leading to its AI leadership and GPU performance excellence. Highlighting the advancement of its AI strategy around the data center markets, we believe it can capitalize on the booming cloud growth and increasing capex share to benefit its data center revenues. Additionally, despite the flattish shipment growth, we believe it can continue to grow its gaming revenues highlighting its consistent performance improvement with its next-gen Ampere Next based models. As it advances its AI strategy, it is looking to leverage Arm’s incredible CPU IP across its latest product R&D for the data center for future launches. Compared to our previous analysis, we applied a quantitative P/S multiple to reflect its superb growth outlook as one of the highest in the industry. Based on our valuation model using a P/S multiple, its projected revenue growth rate of 59.6% in 2021 driven by strong growth momentum across gaming and data center segments provides an upside opportunity of 28.8% as its stock price has already increased by 71% year to date. Overall, we rate the company as aBuywith a target price of$288.45.","news_type":1},"isVote":1,"tweetType":1,"viewCount":285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815883972,"gmtCreate":1630665691996,"gmtModify":1632467946814,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561728795184169","idStr":"3561728795184169"},"themes":[],"htmlText":"[Applaud]&nbsp;","listText":"[Applaud]&nbsp;","text":"[Applaud]","images":[{"img":"https://static.tigerbbs.com/a6b447d1b9df7121d3c7e337a62acddb","width":"1125","height":"3748"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/815883972","isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":812667828,"gmtCreate":1630584545364,"gmtModify":1632471845359,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561728795184169","idStr":"3561728795184169"},"themes":[],"htmlText":"[Strong]&nbsp;","listText":"[Strong]&nbsp;","text":"[Strong]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/812667828","repostId":"2164844227","repostType":2,"repost":{"id":"2164844227","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1630582440,"share":"https://www.laohu8.com/m/news/2164844227?lang=&edition=full","pubTime":"2021-09-02 19:34","market":"hk","language":"en","title":"Costco stock price target raised to $399 from $364 at Deutsche Bank","url":"https://stock-news.laohu8.com/highlight/detail?id=2164844227","media":"Dow Jones","summary":"MW Costco stock price target raised to $399 from $364 at Deutsche Bank\n\n\n \n\n\n$(END)$ Dow Jones Newsw","content":"<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Costco stock price target raised to $399 from $364 at Deutsche Bank\n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  September 02, 2021 07:34 ET (11:34 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Costco stock price target raised to $399 from $364 at Deutsche Bank</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 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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\">\nCostco stock price target raised to $399 from $364 at Deutsche Bank\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-09-02 19:34</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Costco stock price target raised to $399 from $364 at Deutsche Bank\n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  September 02, 2021 07:34 ET (11:34 GMT)\n</p>\n<p>\n  Copyright (c) 2021 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COST":"好市多","DB":"德意志银行"},"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164844227","content_text":"MW Costco stock price target raised to $399 from $364 at Deutsche Bank\n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  September 02, 2021 07:34 ET (11:34 GMT)\n\n\n  Copyright (c) 2021 Dow Jones & Company, Inc.","news_type":1},"isVote":1,"tweetType":1,"viewCount":253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812664168,"gmtCreate":1630584448754,"gmtModify":1632471848405,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561728795184169","idStr":"3561728795184169"},"themes":[],"htmlText":"[Helpless]&nbsp;","listText":"[Helpless]&nbsp;","text":"[Helpless]","images":[{"img":"https://static.tigerbbs.com/30fc7d863d1e2ee87e6f176f2abe0e0d","width":"1242","height":"1767"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/812664168","isVote":1,"tweetType":1,"viewCount":266,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":816232270,"gmtCreate":1630503271390,"gmtModify":1632476089625,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561728795184169","idStr":"3561728795184169"},"themes":[],"htmlText":"[Call]&nbsp;","listText":"[Call]&nbsp;","text":"[Call]","images":[{"img":"https://static.tigerbbs.com/d3035c7a688c7e6d182e6f6008d633d1","width":"1242","height":"1767"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/816232270","isVote":1,"tweetType":1,"viewCount":227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":811735286,"gmtCreate":1630346405545,"gmtModify":1704958888206,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561728795184169","idStr":"3561728795184169"},"themes":[],"htmlText":"[Look&nbsp;back]&nbsp;","listText":"[Look&nbsp;back]&nbsp;","text":"[Look 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19:50","market":"us","language":"en","title":"2 Retail Stocks You Can Buy and Hold for the Next Decade","url":"https://stock-news.laohu8.com/highlight/detail?id=2158792304","media":"Motley Fool","summary":"These stocks continue to offer solid long-term prospects.","content":"<p>While it may seem like time flies by, a decade is a long period. Think about all the changes that have occurred in your own life and the larger world -- some for good and others not. Since 2011, the economy emerged from the Great Recession and began expanding. Then, COVID-19 struck, dealing devastating effects to people's health and the economy.</p>\n<p>While few could have predicted a global pandemic, retailers that fail to adapt to a changing climate or consumer preferences run into trouble. There have been well-known and once popular retailers such as Sears Holdings, J.C. Penney, Neiman Marcus, and Toys R Us that have filed bankruptcy in recent years.</p>\n<p>The industry continues to undergo a dramatic transformation as more people shop online, and the threat of <b>Amazon </b>(NASDAQ: AMZN) hangs over participants. Fortunately, you can find retailers that continue to confront whatever comes their way through simple businesses and strong execution.</p>\n<p>With these two stocks, you can remain confident that they will likely not only survive but thrive in the next 10 years, no matter what comes their way.</p>\n<h2>1. Costco</h2>\n<p><b>Costco </b>(NASDAQ:COST) is known for selling oversized quantities in its large warehouses. But the experience is much more. The company offers high-quality merchandise and services to members at attractive prices. The approach continues to retain and attract members, who don't seem to mind paying an annual fee for the right to access Costco warehouses.</p>\n<p>Its renewal rate continues to hover around 90% while also continually adding new members. Costco ended last year with 58.1 million paying members, up from 47.6 million in fiscal 2016. The company's year ends around the end of August. By the end of the third quarter, the number grew to 60.6 million.</p>\n<p>But Costco isn't merely adding members without regard for the bottom line. Its fiscal 2020 diluted earnings per share were $9.02, 69% higher than fiscal 2016's figure. This year was more of the same, with earnings coming in at $7.51 a diluted share for the first nine months compared to last year's $5.89.</p>\n<p>While there's no guarantee the company will keep paying them, Costco has gotten into the habit of declaring large special dividends every two to three years. The last <a href=\"https://laohu8.com/S/AONE.U\">one</a> was in December when it paid $10.</p>\n<p>Its dividend yield is 0.7%, which is lower than the <b>S&amp;P 500</b>'s 1.3%, but this doesn't count the special payments. Additionally, Costco has raised its payouts annually since its first dividend in 2004. This includes boosting May's payment by 13% to $0.79.</p>\n<h2>2. Walmart</h2>\n<p><b>Walmart </b>(NYSE:WMT) has a well-earned reputation for charging low prices. In fact, competitors find it difficult to undercut what the company charges for items. That's because the mantra of keeping costs down to pass these savings along to customers is ingrained in its culture. After all, it opened its first discount store almost 60 years ago.</p>\n<p>Add in that Walmart is constantly innovating, opened its first e-commerce site more than 20 years ago, and continues to push innovation that focuses on customer convenience and faster delivery. Last year, in a move to counter Amazon, it launched Walmart+. This is its subscription program, which includes shipping, gasoline discounts, and a faster checkout process at the stores.</p>\n<p>Management expects to spend $14 billion on capital expenditures this year, a 40% increase, focusing on items like the supply chains, automation, and customer-facing initiatives. This should allow Walmart to not only remain relevant in the coming years, but to compete with online rivals.</p>\n<p>It is also keeping an eye on profits while looking toward the future. Last year's adjusted operating income rose by over 9% to $23.4 billion. This year, management expects a high-single-digit percentage increase, revising its estimate from its prior flattish expectation.</p>\n<p>In terms of dividends, the board of directors has increased them annually since its first payment in 1974, making Walmart a Dividend Aristocrat. The company modestly increased dividends this year by a penny to $0.55 a quarter. The dividend yield is 1.5%. It is good to know that Walmart is investing in the future while continuing to raise dividends.</p>\n<p>Retail is a competitive business, but Costco and Walmart have positioned themselves well to continue succeeding by focusing on their customers' wants and needs. It is a simple concept that will continue to reward shareholders over the next decade.</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>2 Retail Stocks You Can Buy and Hold for the Next Decade</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\">\n2 Retail Stocks You Can Buy and Hold for the Next Decade\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-10 19:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/10/2-retail-stocks-you-can-buy-and-hold-for-the-next/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While it may seem like time flies by, a decade is a long period. Think about all the changes that have occurred in your own life and the larger world -- some for good and others not. Since 2011, the ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/10/2-retail-stocks-you-can-buy-and-hold-for-the-next/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COST":"好市多","WMT":"沃尔玛"},"source_url":"https://www.fool.com/investing/2021/08/10/2-retail-stocks-you-can-buy-and-hold-for-the-next/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2158792304","content_text":"While it may seem like time flies by, a decade is a long period. Think about all the changes that have occurred in your own life and the larger world -- some for good and others not. Since 2011, the economy emerged from the Great Recession and began expanding. Then, COVID-19 struck, dealing devastating effects to people's health and the economy.\nWhile few could have predicted a global pandemic, retailers that fail to adapt to a changing climate or consumer preferences run into trouble. There have been well-known and once popular retailers such as Sears Holdings, J.C. Penney, Neiman Marcus, and Toys R Us that have filed bankruptcy in recent years.\nThe industry continues to undergo a dramatic transformation as more people shop online, and the threat of Amazon (NASDAQ: AMZN) hangs over participants. Fortunately, you can find retailers that continue to confront whatever comes their way through simple businesses and strong execution.\nWith these two stocks, you can remain confident that they will likely not only survive but thrive in the next 10 years, no matter what comes their way.\n1. Costco\nCostco (NASDAQ:COST) is known for selling oversized quantities in its large warehouses. But the experience is much more. The company offers high-quality merchandise and services to members at attractive prices. The approach continues to retain and attract members, who don't seem to mind paying an annual fee for the right to access Costco warehouses.\nIts renewal rate continues to hover around 90% while also continually adding new members. Costco ended last year with 58.1 million paying members, up from 47.6 million in fiscal 2016. The company's year ends around the end of August. By the end of the third quarter, the number grew to 60.6 million.\nBut Costco isn't merely adding members without regard for the bottom line. Its fiscal 2020 diluted earnings per share were $9.02, 69% higher than fiscal 2016's figure. This year was more of the same, with earnings coming in at $7.51 a diluted share for the first nine months compared to last year's $5.89.\nWhile there's no guarantee the company will keep paying them, Costco has gotten into the habit of declaring large special dividends every two to three years. The last one was in December when it paid $10.\nIts dividend yield is 0.7%, which is lower than the S&P 500's 1.3%, but this doesn't count the special payments. Additionally, Costco has raised its payouts annually since its first dividend in 2004. This includes boosting May's payment by 13% to $0.79.\n2. Walmart\nWalmart (NYSE:WMT) has a well-earned reputation for charging low prices. In fact, competitors find it difficult to undercut what the company charges for items. That's because the mantra of keeping costs down to pass these savings along to customers is ingrained in its culture. After all, it opened its first discount store almost 60 years ago.\nAdd in that Walmart is constantly innovating, opened its first e-commerce site more than 20 years ago, and continues to push innovation that focuses on customer convenience and faster delivery. Last year, in a move to counter Amazon, it launched Walmart+. This is its subscription program, which includes shipping, gasoline discounts, and a faster checkout process at the stores.\nManagement expects to spend $14 billion on capital expenditures this year, a 40% increase, focusing on items like the supply chains, automation, and customer-facing initiatives. This should allow Walmart to not only remain relevant in the coming years, but to compete with online rivals.\nIt is also keeping an eye on profits while looking toward the future. Last year's adjusted operating income rose by over 9% to $23.4 billion. This year, management expects a high-single-digit percentage increase, revising its estimate from its prior flattish expectation.\nIn terms of dividends, the board of directors has increased them annually since its first payment in 1974, making Walmart a Dividend Aristocrat. The company modestly increased dividends this year by a penny to $0.55 a quarter. The dividend yield is 1.5%. It is good to know that Walmart is investing in the future while continuing to raise dividends.\nRetail is a competitive business, but Costco and Walmart have positioned themselves well to continue succeeding by focusing on their customers' wants and needs. It is a simple concept that will continue to reward shareholders over the next decade.","news_type":1},"isVote":1,"tweetType":1,"viewCount":124,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140824960,"gmtCreate":1625647936050,"gmtModify":1633938746745,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561728795184169","idStr":"3561728795184169"},"themes":[],"htmlText":"[Onlooker]&nbsp;","listText":"[Onlooker]&nbsp;","text":"[Onlooker]","images":[{"img":"https://static.tigerbbs.com/0b46c6ec8eba6b24738ebb0ed1fb07fd","width":"1242","height":"1767"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/140824960","isVote":1,"tweetType":1,"viewCount":47,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":157123435,"gmtCreate":1625573887427,"gmtModify":1633939525504,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561728795184169","idStr":"3561728795184169"},"themes":[],"htmlText":"Oh no [LOL]&nbsp;","listText":"Oh no [LOL]&nbsp;","text":"Oh no [LOL]","images":[{"img":"https://static.tigerbbs.com/5236d6b00d2a974b9dcf6c344ac65a29","width":"1242","height":"1767"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/157123435","isVote":1,"tweetType":1,"viewCount":48,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":155690353,"gmtCreate":1625408125572,"gmtModify":1633940895650,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561728795184169","idStr":"3561728795184169"},"themes":[],"htmlText":"[Applaud]&nbsp;","listText":"[Applaud]&nbsp;","text":"[Applaud]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/155690353","repostId":"1104835932","repostType":4,"isVote":1,"tweetType":1,"viewCount":96,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156413939,"gmtCreate":1625233845721,"gmtModify":1633942256275,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3561728795184169","idStr":"3561728795184169"},"themes":[],"htmlText":"[Sly]&nbsp;","listText":"[Sly]&nbsp;","text":"[Sly]","images":[{"img":"https://static.tigerbbs.com/597fe11a4f8ebec3813412f1cf0ae73f","width":"1242","height":"1767"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/156413939","isVote":1,"tweetType":1,"viewCount":117,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":194939507,"gmtCreate":1621332373409,"gmtModify":1634192386702,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"[Smile]&nbsp;","listText":"[Smile]&nbsp;","text":"[Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/194939507","repostId":"1168427878","repostType":4,"repost":{"id":"1168427878","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1621332168,"share":"https://www.laohu8.com/m/news/1168427878?lang=&edition=full","pubTime":"2021-05-18 18:02","market":"us","language":"en","title":"Home Depot crushes estimates, its sales jump 32.7% as customers rang up bigger purchases","url":"https://stock-news.laohu8.com/highlight/detail?id=1168427878","media":"Tiger Newspress","summary":"KEY POINTS\n\nShares of Home Depot have risen more than 20% this year, giving it a market value of $34","content":"<p><b>KEY POINTS</b></p>\n<ul>\n <li>Shares of Home Depot have risen more than 20% this year, giving it a market value of $343 billion.</li>\n <li>The retailer has gotten a boost to sales over the last year during the coronavirus pandemic.</li>\n <li>The big question for Home Depot is whether it will be able to hold onto those gains even after the crisis subsides.</li>\n</ul>\n<p>Home Depot&nbsp;on Tuesday crushed Wall Street's earnings estimates as consumers spent more money at the retailer this quarter.</p>\n<p>Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:</p>\n<ul>\n <li>Earnings per share: $3.86, vs. $3.08 expected</li>\n <li>Revenue: $37.5 billion, vs. $34.96 billion expected</li>\n</ul>\n<p>The retailer reported fiscal first-quarter net income of $4.15 billion, or $3.86 per share, up from $2.25 billion, or $2.08 per share, a year earlier. Analysts surveyed by Refinitiv were expecting earnings per share of $3.08.</p>\n<p>Net sales rose 32.7% to $37.5 billion, beating expectations of $34.96 billion. Global same-store sales surged 31% for the quarter.</p>\n<p>This is the first quarter that the retailer is facing year-over-year comparisons to its business during lockdowns. A year ago,its first-quarter same-store sales&nbsp;grew 6.4%. Home Depot was classified as an essential business, accelerating sales for the company's do-it-yourself business as consumers tackled new projects while at home.</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>Home Depot crushes estimates, its sales jump 32.7% as customers rang up bigger purchases</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\">\nHome Depot crushes estimates, its sales jump 32.7% as customers rang up bigger purchases\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-05-18 18:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>KEY POINTS</b></p>\n<ul>\n <li>Shares of Home Depot have risen more than 20% this year, giving it a market value of $343 billion.</li>\n <li>The retailer has gotten a boost to sales over the last year during the coronavirus pandemic.</li>\n <li>The big question for Home Depot is whether it will be able to hold onto those gains even after the crisis subsides.</li>\n</ul>\n<p>Home Depot&nbsp;on Tuesday crushed Wall Street's earnings estimates as consumers spent more money at the retailer this quarter.</p>\n<p>Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:</p>\n<ul>\n <li>Earnings per share: $3.86, vs. $3.08 expected</li>\n <li>Revenue: $37.5 billion, vs. $34.96 billion expected</li>\n</ul>\n<p>The retailer reported fiscal first-quarter net income of $4.15 billion, or $3.86 per share, up from $2.25 billion, or $2.08 per share, a year earlier. Analysts surveyed by Refinitiv were expecting earnings per share of $3.08.</p>\n<p>Net sales rose 32.7% to $37.5 billion, beating expectations of $34.96 billion. Global same-store sales surged 31% for the quarter.</p>\n<p>This is the first quarter that the retailer is facing year-over-year comparisons to its business during lockdowns. A year ago,its first-quarter same-store sales&nbsp;grew 6.4%. Home Depot was classified as an essential business, accelerating sales for the company's do-it-yourself business as consumers tackled new projects while at home.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HD":"家得宝"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168427878","content_text":"KEY POINTS\n\nShares of Home Depot have risen more than 20% this year, giving it a market value of $343 billion.\nThe retailer has gotten a boost to sales over the last year during the coronavirus pandemic.\nThe big question for Home Depot is whether it will be able to hold onto those gains even after the crisis subsides.\n\nHome Depot on Tuesday crushed Wall Street's earnings estimates as consumers spent more money at the retailer this quarter.\nHere's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:\n\nEarnings per share: $3.86, vs. $3.08 expected\nRevenue: $37.5 billion, vs. $34.96 billion expected\n\nThe retailer reported fiscal first-quarter net income of $4.15 billion, or $3.86 per share, up from $2.25 billion, or $2.08 per share, a year earlier. Analysts surveyed by Refinitiv were expecting earnings per share of $3.08.\nNet sales rose 32.7% to $37.5 billion, beating expectations of $34.96 billion. Global same-store sales surged 31% for the quarter.\nThis is the first quarter that the retailer is facing year-over-year comparisons to its business during lockdowns. A year ago,its first-quarter same-store sales grew 6.4%. Home Depot was classified as an essential business, accelerating sales for the company's do-it-yourself business as consumers tackled new projects while at home.","news_type":1},"isVote":1,"tweetType":1,"viewCount":176,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":388726796,"gmtCreate":1613099695715,"gmtModify":1634554526945,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"Prefer&nbsp;companies to keep the dividends and&nbsp;reinvest its profits to&nbsp;develop innovative&nbsp;products and/or services.","listText":"Prefer&nbsp;companies to keep the dividends and&nbsp;reinvest its profits to&nbsp;develop innovative&nbsp;products and/or services.","text":"Prefer companies to keep the dividends and reinvest its profits to develop innovative products and/or services.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/388726796","repostId":"1171115025","repostType":4,"repost":{"id":"1171115025","pubTimestamp":1612940816,"share":"https://www.laohu8.com/m/news/1171115025?lang=&edition=full","pubTime":"2021-02-10 15:06","market":"us","language":"en","title":"13 Stocks With Rock-Solid Dividends","url":"https://stock-news.laohu8.com/highlight/detail?id=1171115025","media":"Barrons","summary":"Many investors have experienced both the 2008-09 financial crisis and the Covid-19 pandemic. While t","content":"<p>Many investors have experienced both the&nbsp;2008-09 financial crisis&nbsp;and&nbsp;the Covid-19 pandemic. While there seems to be an ever-growing number of risks to watch and worry about, dividend security doesn’t have to be one of them.</p>\n<p>Several large&nbsp;industrial companies&nbsp;managed to raise—or at least maintain—dividends through both of those crises. Surviving both of those events with shareholder payouts intact is a good measure of dividend security.</p>\n<p>These stocks aren’t necessarily Dividend&nbsp;Aristocrats, a grouping of companies that have raised dividends for the&nbsp;past 25 years. They are, however, in elite company for having the business strength and financial wherewithal to maintain payouts to shareholders through the worst of times.</p>\n<p>The 13 stocks, in no particular order, include: industrial distributorFastenal(ticker: FAST), industrial gas producerAir Products(APD), defense giantLockheed Martin(LMT), Lockheed peerGeneral Dynamics(GD), waste haulerRepublic Services(RSG),software-industrialcompanyHoneywell International(HON), parcel shipperUnited Parcel Service(UPS), conglomerateIllinois Tool Works(ITW), diesel engine giantCummins(CMI), machinery giantCaterpillar(CAT), railroadUnion Pacific(UNP), consumer-industrial3M(MMM) and industrial automation companyRockwell Automation(ROK).</p>\n<p><b>Rock-Solid Dividend Plays</b></p>\n<p>These industrial companies have a dividend yield greater than the average S&amp;P 500 stock, as well as lower-than-average debt. They also spend less than all of their available free cash flow on dividends.</p>\n<p><img src=\"https://static.tigerbbs.com/50746170114e3a5f37ae7de491e0cb36\" tg-width=\"854\" tg-height=\"638\"></p>\n<p>All of the companies have a dividend yield greater than the average S&amp;P 500 stock, as well as lower-than-average debt. They also spend less than all of their available free cash flow on dividends—meaning there is a cushion for tough times.</p>\n<p>A couple of exceptions were made.Republic Services&nbsp;has above-average debt, but that is typical for companies in the stable waste-hauling business. Republic’s sales fell about 1% between 2009 and 2010 while free cash flow grew.</p>\n<p>Air Products paid out more than its free cash flow in 2020 on dividends, but it has low debt and its free cash flow and cash from operations has easily covered its dividend over the past decade. What’s more, Air Products is still investing for growth. Industrial gas demand, essentially, tracks growth in the global economy.</p>\n<p>The list of 13 is quite a mix of businesses. There are companies that have established networks and high local market shares such as Air Products and Republic.Union Pacific and UPS have established networks and strong market share even though those businesses can’t really be called local. There are large, diversified conglomerates, including Illinois Tool, 3M and Honeywell. Defense conglomerates fall in their own category—they are stable with the dominant customer being the U.S. government. Cummins and Caterpillar are cyclical equipment makers, but have managed to stay stable by maintaining solid balance sheets and strong market positions.</p>\n<p>The average market capitalization is about $80 billion. The smallest firm, by market cap, is&nbsp;Fastenalat less than $30 billion. The largest is Honeywell with a market cap north of $140 billion.</p>\n<p>The average dividend yield of the 13 is about 2.3%, better than the average 1.5% yield of the&nbsp;S&amp;P 500&nbsp;and the 2% yield of the&nbsp;Dow Jones Industrial Average.One of the higher yields is 3M at about 3%. One of the lower yields is Rockwell at about 1.7%.</p>\n<p><b>Safety at a Reasonable Price</b></p>\n<p>These 13 industrial stocks have low debt and ample cash generation.</p>\n<p><img src=\"https://static.tigerbbs.com/4b1f844b59029525ff9ddc18b646c09b\" tg-width=\"854\" tg-height=\"497\"></p>\n<p>The 13 companies, on average, paid out about 60% of their 2020 cash flow on dividends. That means there was some cash flow cushion to cover dividends during a pandemic-plagued year.</p>\n<p>What’s more, the average debt-to-Ebitda ratio, a common measure of financial leverage, is about 1.2 times or roughly half the level of the average company in the S&amp;P. There isn’t too much debt to interfere with dividends.</p>\n<p>Ebitda is short for earnings before, interest, taxes, depreciation and amortization. It’s a common measure of earnings available to do things such as pay interest on debt, invest in new businesses as well as pay shareholders.</p>\n<p>The 13 seem stable, but are they good investments? The baker’s dozen have roughly, on average, matched or beaten the market for the past 1-, 3-, 5- and 10-year periods. All have produced positive returns for the past 5- and 10-year periods.</p>\n<p>That’s not bad. And the average price to earnings ratio is about 20 times estimated 2021 earnings. That compares with the 22 times multiple of the S&amp;P 500.</p>\n<p>That makes these companies safe at a reasonable price.</p>\n<p>There is no telling what is coming down the pike at investors in 2021.Inflation,interest rates, trade relations between major economies and other unforeseen things will surely start to nettle investors in the future even if Covid-19 fades.</p>\n<p>With these industrial stocks, however, investors can worry less about the security of their quarterly payouts.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>13 Stocks With Rock-Solid Dividends</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\">\n13 Stocks With Rock-Solid Dividends\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-10 15:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/13-industrial-stocks-with-rock-solid-dividends-51612887419?mod=hp_LEADSUPP_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Many investors have experienced both the 2008-09 financial crisis and the Covid-19 pandemic. While there seems to be an ever-growing number of risks to watch and worry about, dividend security doesn’t...</p>\n\n<a href=\"https://www.barrons.com/articles/13-industrial-stocks-with-rock-solid-dividends-51612887419?mod=hp_LEADSUPP_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAT":"卡特彼勒","HON":"霍尼韦尔","UNP":"联合太平洋","GD":"通用动力","MMM":"3M","ITW":"伊利诺伊机械","CMI":"康明斯","RSG":"共和废品处理","APD":"空气化工","FAST":"快扣","UPS":"联合包裹","ROK":"罗克韦尔自动化","LMT":"洛克希德马丁"},"source_url":"https://www.barrons.com/articles/13-industrial-stocks-with-rock-solid-dividends-51612887419?mod=hp_LEADSUPP_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171115025","content_text":"Many investors have experienced both the 2008-09 financial crisis and the Covid-19 pandemic. While there seems to be an ever-growing number of risks to watch and worry about, dividend security doesn’t have to be one of them.\nSeveral large industrial companies managed to raise—or at least maintain—dividends through both of those crises. Surviving both of those events with shareholder payouts intact is a good measure of dividend security.\nThese stocks aren’t necessarily Dividend Aristocrats, a grouping of companies that have raised dividends for the past 25 years. They are, however, in elite company for having the business strength and financial wherewithal to maintain payouts to shareholders through the worst of times.\nThe 13 stocks, in no particular order, include: industrial distributorFastenal(ticker: FAST), industrial gas producerAir Products(APD), defense giantLockheed Martin(LMT), Lockheed peerGeneral Dynamics(GD), waste haulerRepublic Services(RSG),software-industrialcompanyHoneywell International(HON), parcel shipperUnited Parcel Service(UPS), conglomerateIllinois Tool Works(ITW), diesel engine giantCummins(CMI), machinery giantCaterpillar(CAT), railroadUnion Pacific(UNP), consumer-industrial3M(MMM) and industrial automation companyRockwell Automation(ROK).\nRock-Solid Dividend Plays\nThese industrial companies have a dividend yield greater than the average S&P 500 stock, as well as lower-than-average debt. They also spend less than all of their available free cash flow on dividends.\n\nAll of the companies have a dividend yield greater than the average S&P 500 stock, as well as lower-than-average debt. They also spend less than all of their available free cash flow on dividends—meaning there is a cushion for tough times.\nA couple of exceptions were made.Republic Services has above-average debt, but that is typical for companies in the stable waste-hauling business. Republic’s sales fell about 1% between 2009 and 2010 while free cash flow grew.\nAir Products paid out more than its free cash flow in 2020 on dividends, but it has low debt and its free cash flow and cash from operations has easily covered its dividend over the past decade. What’s more, Air Products is still investing for growth. Industrial gas demand, essentially, tracks growth in the global economy.\nThe list of 13 is quite a mix of businesses. There are companies that have established networks and high local market shares such as Air Products and Republic.Union Pacific and UPS have established networks and strong market share even though those businesses can’t really be called local. There are large, diversified conglomerates, including Illinois Tool, 3M and Honeywell. Defense conglomerates fall in their own category—they are stable with the dominant customer being the U.S. government. Cummins and Caterpillar are cyclical equipment makers, but have managed to stay stable by maintaining solid balance sheets and strong market positions.\nThe average market capitalization is about $80 billion. The smallest firm, by market cap, is Fastenalat less than $30 billion. The largest is Honeywell with a market cap north of $140 billion.\nThe average dividend yield of the 13 is about 2.3%, better than the average 1.5% yield of the S&P 500 and the 2% yield of the Dow Jones Industrial Average.One of the higher yields is 3M at about 3%. One of the lower yields is Rockwell at about 1.7%.\nSafety at a Reasonable Price\nThese 13 industrial stocks have low debt and ample cash generation.\n\nThe 13 companies, on average, paid out about 60% of their 2020 cash flow on dividends. That means there was some cash flow cushion to cover dividends during a pandemic-plagued year.\nWhat’s more, the average debt-to-Ebitda ratio, a common measure of financial leverage, is about 1.2 times or roughly half the level of the average company in the S&P. There isn’t too much debt to interfere with dividends.\nEbitda is short for earnings before, interest, taxes, depreciation and amortization. It’s a common measure of earnings available to do things such as pay interest on debt, invest in new businesses as well as pay shareholders.\nThe 13 seem stable, but are they good investments? The baker’s dozen have roughly, on average, matched or beaten the market for the past 1-, 3-, 5- and 10-year periods. All have produced positive returns for the past 5- and 10-year periods.\nThat’s not bad. And the average price to earnings ratio is about 20 times estimated 2021 earnings. That compares with the 22 times multiple of the S&P 500.\nThat makes these companies safe at a reasonable price.\nThere is no telling what is coming down the pike at investors in 2021.Inflation,interest rates, trade relations between major economies and other unforeseen things will surely start to nettle investors in the future even if Covid-19 fades.\nWith these industrial stocks, however, investors can worry less about the security of their quarterly payouts.","news_type":1},"isVote":1,"tweetType":1,"viewCount":210,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":385873733,"gmtCreate":1613536345722,"gmtModify":1634553248591,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"Looking forward to the earnings report!Also can’t wait for Roku to expand to Asia~ come quick","listText":"Looking forward to the earnings report!Also can’t wait for Roku to expand to Asia~ come quick","text":"Looking forward to the earnings report!Also can’t wait for Roku to expand to Asia~ come quick","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/385873733","repostId":"1114494462","repostType":4,"repost":{"id":"1114494462","pubTimestamp":1613460376,"share":"https://www.laohu8.com/m/news/1114494462?lang=&edition=full","pubTime":"2021-02-16 15:26","market":"us","language":"en","title":"ROKU Gears Up to Report Q4 Earnings: What's in the Cards?","url":"https://stock-news.laohu8.com/highlight/detail?id=1114494462","media":"Zacks","summary":"Roku is set to report fourth-quarter 2020 results on Feb 18.\nThe company expects fourth-quarter year","content":"<p><b>Roku</b>&nbsp;is set to report fourth-quarter 2020 results on Feb 18.</p>\n<p>The company expects fourth-quarter year-over-year revenue growth in the mid-40% range while platform revenues are expected to account for roughly two-thirds of total revenues.</p>\n<p>The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $615.8 million, indicating 49.7% growth from the year-ago quarter reported figure.</p>\n<p>Moreover, the consensus mark for loss has remained steady at 8 cents per share in the past 30 days. The estimated figure is narrower than loss of 13 cents reported in the year-ago quarter.</p>\n<p>The company’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 42.7%.</p>\n<p>Let’s see how things have shaped up prior to this announcement.</p>\n<p><b>Roku, Inc. Price and EPS Surprise</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/263fff26a2be7ad2e3092f533c1671da\" tg-width=\"540\" tg-height=\"264\"><span>Roku, Inc. price-eps-surprise|Roku, Inc. Quote</span></p>\n<p><b>Factors to Consider</b></p>\n<p>Investor focus will be on active accounts growth, which is an important metric for Roku. The popularity of its free, ad-supported platform, The Roku Channel is expected to have aided active accounts growth in the fourth quarter of 2020. The ability to access free and premium content on the same platform has been a huge attraction for subscribers.</p>\n<p>In the third quarter, the company reached a mutually beneficial agreement with&nbsp;<b>Comcast</b> -owned NBCUniversal to distribute the latter’s Peacock streaming services that include collaboration around marketing, advertising, and content for The Roku Channel.</p>\n<p>Building on that partnership, Roku launched NBC News in The Roku Channel in time for the final presidential debate, expanding the overall reach and monetization of NBC News alongside its standalone NBC News app on the Roku platform.</p>\n<p>Moreover, Roku announced that RTE Player, the on-demand service provided by Irish broadcaster RTE, is officially available on Roku streaming devices in Ireland.</p>\n<p>The company’s active accounts jumped 43% year over year to 46 million in third-quarter 2020. Moreover, ARPU increased 20% to $27 (on a trailing 12-month basis).</p>\n<p>Notably, the Zacks Consensus Estimate for fourth-quarter active accounts and ARPU is pegged at $50 million and $27.44, respectively, indicating an increase of 35.5% and 18.6% from the year-ago reported figures.</p>\n<p>The expected solid surge in active accounts and viewing may have been the result of growth in subscription signups, movie rentals and purchases as well as elevated revenues from increased device sales.</p>\n<p>Additionally, streaming hours growth is expected to have boosted TV streaming advertising on Roku’s platform. The consensus mark for streaming hours stands at 16.9 billion, implying an increase of 44.4% from the year-ago quarter’s reported figure.</p>\n<p>In the fourth quarter, Roku announced a slate of releases on The Roku Channel in the United Kingdom including films such as<i>The Devils Double, Muriel’s Wedding, Harry Price: Ghost Hunter</i>and family friendly Christmas picks like D<i>iana Show, Ryan’s World</i>and crime-drama<i>Little Miracles</i>, which are expected to have boosted streaming hours in the to-be reported quarter.</p>\n<p>The addition of Peloton app, Peloton Interactive’s virtual fitness platform for Roku streamers is also expected to have aided growth in streaming hours.</p>\n<p>Further, the launch of streaming services — Apple TV+ and Disney+ — on Roku’s platform is expected to have aided Platform revenues, which accounted for 70.7% of revenues in the third quarter.</p>\n<p>The consensus mark for Platform revenues is pegged at $402 million, indicating growth of 54.6% from the figure reported in the year-ago quarter.</p>\n<p><b>Improving Advertising Business to Aid Top-Line</b></p>\n<p>Moreover, the growing popularity of The Roku Channel is expected to have attracted advertisers in the to-be-reported quarter. Also, the acquisition of Dataxu (a demand-side advertising platform) is expected to have strengthened the company’s OTT advertising roadmap.</p>\n<p>Meanwhile, the advertising business is expected to have witnessed delayed starts in video ad campaign, primarily from categories including travel, quick-serve restaurants, theatrical and automotive among others that were severely hit by stay-at-home policies.</p>\n<p>Nonetheless, Roku is expected to have benefited from advertising spend reallocation toward TV streaming as marketers accelerate their shift out of traditional TV and into TV streaming.</p>\n<p>Additionally, product innovations in solutions like the Shopper Data Program with Kroger are expected to have driven monetized video ad impressions growth in the fourth quarter.</p>\n<p>Moreover, increasing advertiser demand for new products offered by the company such as incremental reach guarantees and Roku’s OneView ad platform are expected to be key catalysts. The ad platform is designed to help advertisers use TV identity data to create ads across OTT, desktop and mobile from a single hub.</p>\n<p>However, the bottom line is expected to have been weighed down by cost escalations, resulting from increased marketing expenses related to international expansion and content additions in the to-be-reported quarter.</p>\n<p><b>What Our Model Says</b></p>\n<p>According to the Zacks model, the combination of a positiveEarnings ESPand Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.</p>\n<p>Roku has an Earnings ESP of -64.1% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with ourEarnings ESP Filter.</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>ROKU Gears Up to Report Q4 Earnings: What's in the Cards?</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\">\nROKU Gears Up to Report Q4 Earnings: What's in the Cards?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-16 15:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zacks.com/stock/news/1263307/roku-gears-up-to-report-q4-earnings-whats-in-the-cards><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Roku is set to report fourth-quarter 2020 results on Feb 18.\nThe company expects fourth-quarter year-over-year revenue growth in the mid-40% range while platform revenues are expected to account for ...</p>\n\n<a href=\"https://www.zacks.com/stock/news/1263307/roku-gears-up-to-report-q4-earnings-whats-in-the-cards\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc"},"source_url":"https://www.zacks.com/stock/news/1263307/roku-gears-up-to-report-q4-earnings-whats-in-the-cards","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114494462","content_text":"Roku is set to report fourth-quarter 2020 results on Feb 18.\nThe company expects fourth-quarter year-over-year revenue growth in the mid-40% range while platform revenues are expected to account for roughly two-thirds of total revenues.\nThe Zacks Consensus Estimate for fourth-quarter revenues is pegged at $615.8 million, indicating 49.7% growth from the year-ago quarter reported figure.\nMoreover, the consensus mark for loss has remained steady at 8 cents per share in the past 30 days. The estimated figure is narrower than loss of 13 cents reported in the year-ago quarter.\nThe company’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 42.7%.\nLet’s see how things have shaped up prior to this announcement.\nRoku, Inc. Price and EPS Surprise\nRoku, Inc. price-eps-surprise|Roku, Inc. Quote\nFactors to Consider\nInvestor focus will be on active accounts growth, which is an important metric for Roku. The popularity of its free, ad-supported platform, The Roku Channel is expected to have aided active accounts growth in the fourth quarter of 2020. The ability to access free and premium content on the same platform has been a huge attraction for subscribers.\nIn the third quarter, the company reached a mutually beneficial agreement with Comcast -owned NBCUniversal to distribute the latter’s Peacock streaming services that include collaboration around marketing, advertising, and content for The Roku Channel.\nBuilding on that partnership, Roku launched NBC News in The Roku Channel in time for the final presidential debate, expanding the overall reach and monetization of NBC News alongside its standalone NBC News app on the Roku platform.\nMoreover, Roku announced that RTE Player, the on-demand service provided by Irish broadcaster RTE, is officially available on Roku streaming devices in Ireland.\nThe company’s active accounts jumped 43% year over year to 46 million in third-quarter 2020. Moreover, ARPU increased 20% to $27 (on a trailing 12-month basis).\nNotably, the Zacks Consensus Estimate for fourth-quarter active accounts and ARPU is pegged at $50 million and $27.44, respectively, indicating an increase of 35.5% and 18.6% from the year-ago reported figures.\nThe expected solid surge in active accounts and viewing may have been the result of growth in subscription signups, movie rentals and purchases as well as elevated revenues from increased device sales.\nAdditionally, streaming hours growth is expected to have boosted TV streaming advertising on Roku’s platform. The consensus mark for streaming hours stands at 16.9 billion, implying an increase of 44.4% from the year-ago quarter’s reported figure.\nIn the fourth quarter, Roku announced a slate of releases on The Roku Channel in the United Kingdom including films such asThe Devils Double, Muriel’s Wedding, Harry Price: Ghost Hunterand family friendly Christmas picks like Diana Show, Ryan’s Worldand crime-dramaLittle Miracles, which are expected to have boosted streaming hours in the to-be reported quarter.\nThe addition of Peloton app, Peloton Interactive’s virtual fitness platform for Roku streamers is also expected to have aided growth in streaming hours.\nFurther, the launch of streaming services — Apple TV+ and Disney+ — on Roku’s platform is expected to have aided Platform revenues, which accounted for 70.7% of revenues in the third quarter.\nThe consensus mark for Platform revenues is pegged at $402 million, indicating growth of 54.6% from the figure reported in the year-ago quarter.\nImproving Advertising Business to Aid Top-Line\nMoreover, the growing popularity of The Roku Channel is expected to have attracted advertisers in the to-be-reported quarter. Also, the acquisition of Dataxu (a demand-side advertising platform) is expected to have strengthened the company’s OTT advertising roadmap.\nMeanwhile, the advertising business is expected to have witnessed delayed starts in video ad campaign, primarily from categories including travel, quick-serve restaurants, theatrical and automotive among others that were severely hit by stay-at-home policies.\nNonetheless, Roku is expected to have benefited from advertising spend reallocation toward TV streaming as marketers accelerate their shift out of traditional TV and into TV streaming.\nAdditionally, product innovations in solutions like the Shopper Data Program with Kroger are expected to have driven monetized video ad impressions growth in the fourth quarter.\nMoreover, increasing advertiser demand for new products offered by the company such as incremental reach guarantees and Roku’s OneView ad platform are expected to be key catalysts. The ad platform is designed to help advertisers use TV identity data to create ads across OTT, desktop and mobile from a single hub.\nHowever, the bottom line is expected to have been weighed down by cost escalations, resulting from increased marketing expenses related to international expansion and content additions in the to-be-reported quarter.\nWhat Our Model Says\nAccording to the Zacks model, the combination of a positiveEarnings ESPand Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.\nRoku has an Earnings ESP of -64.1% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with ourEarnings ESP Filter.","news_type":1},"isVote":1,"tweetType":1,"viewCount":377,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382237072,"gmtCreate":1613450040296,"gmtModify":1634553631117,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"Who shall it be....","listText":"Who shall it be....","text":"Who shall it be....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/382237072","repostId":"1128778771","repostType":4,"repost":{"id":"1128778771","pubTimestamp":1613447145,"share":"https://www.laohu8.com/m/news/1128778771?lang=&edition=full","pubTime":"2021-02-16 11:45","market":"us","language":"en","title":"Apple’s Search for an Autonomous Vehicle Partner Continues. Who It Could Choose","url":"https://stock-news.laohu8.com/highlight/detail?id=1128778771","media":"Barrons","summary":"Apple’s search for an auto maker to join the tech giant’s project to build autonomous vehicles continues, following reports that discussions have dissolved withNissan.The back story.There has been speculation over Apple’s vehicle ambitions since 2015, when The Wall Street Journalreported that it was gearing up to take on Tesla. The iPhone maker has been highly secretive about its plans for “Project Titan,” confirmed in 2016, which has evolved to encompass self-driving, or autonomous, electric ve","content":"<p>Apple’s search for an auto maker to join the tech giant’s project to build autonomous vehicles continues, following reports that discussions have dissolved withNissan.</p>\n<p>Shares in the Japanese auto giant tumbled near 3% in Tokyo trading.Appleshares were not traded in the U.S. on Monday due to the Presidents Day holiday.</p>\n<p><b>The back story.</b>There has been speculation over Apple’s vehicle ambitions since 2015, when The Wall Street Journalreported that it was gearing up to take on Tesla. The iPhone maker has been highly secretive about its plans for “Project Titan,” confirmed in 2016, which has evolved to encompass self-driving, or autonomous, electric vehicles.</p>\n<p>Analysts have suspected that the Silicon Valley giant would partner with an existing auto maker to break into the capital-intensive vehicle industry.</p>\n<p>On Feb. 8, Korean auto makersHyundaiandKiasaid they were no longer in talks with Apple over an autonomous electric-vehicle project, following widespread press and analyst speculation that a deal was near. That news had sent Hyundai stock down more than 6% and shares in Kia down 15%—eliminating a combined $8.5 billion in market value from the two companies.</p>\n<p>The next day, Nissan’s chief executive Makoto Uchida was pressed in an earrings call on whether the company had been approached by Apple about a collaboration. Uchida avoided addressing Apple directly, but indicated that Nissan could partner with technology companies on building the next generation of cars.</p>\n<p><b>What’s new.</b>Nissan confirmed on Monday that it was not in talks with Apple, but said it was open to exploring collaborations and partnerships to accelerate the vehicle industry.</p>\n<p>The Financial Timeshad reported earlierthat there were discussions between the two groups over a partnership, but that talks had stalled over possible branding. According to the report, the discussions did not reach senior management levels.</p>\n<p>A source close to Nissantold Agence France-Pressethat “when you make a product under the Apple brand, you give your soul— and your profit margins— to Apple,” and that Nissan was “not interested in giving Apple the best that we offer.”</p>\n<p><b>Looking ahead.</b>It makes sense that Apple would partner with a strong auto maker to realize its electric-vehicle dreams. With Nissan crossed off, following Hyundai and Kia, that list is narrowing.</p>\n<p>On Feb. 7, just before Hyundai and Kia confirmed they were not involved with Apple, veteran technology analyst Daniel Ives of investment firm Wedbush, said it was a matter of “when not if” Apple entered the electric-vehicle race. Ives put the chances at 85% that the tech giant would announce a relevant partnership or collaboration within the next three to six months.</p>\n<p>Ives singled out Hyundai as the most likely choice, withVolkswagen Group—which also makes Audi andPorsche—as the next best bet. With Hyundai out, investors should keep an eye on the German giant. The analyst also floated Tesla andFordas possible candidates.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple’s Search for an Autonomous Vehicle Partner Continues. Who It Could Choose</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’s Search for an Autonomous Vehicle Partner Continues. Who It Could Choose\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-16 11:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/apples-search-for-an-autonomous-vehicle-partner-continues-who-it-could-choose-51613398948?mod=hp_DAY_0><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple’s search for an auto maker to join the tech giant’s project to build autonomous vehicles continues, following reports that discussions have dissolved withNissan.\nShares in the Japanese auto ...</p>\n\n<a href=\"https://www.barrons.com/articles/apples-search-for-an-autonomous-vehicle-partner-continues-who-it-could-choose-51613398948?mod=hp_DAY_0\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.barrons.com/articles/apples-search-for-an-autonomous-vehicle-partner-continues-who-it-could-choose-51613398948?mod=hp_DAY_0","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128778771","content_text":"Apple’s search for an auto maker to join the tech giant’s project to build autonomous vehicles continues, following reports that discussions have dissolved withNissan.\nShares in the Japanese auto giant tumbled near 3% in Tokyo trading.Appleshares were not traded in the U.S. on Monday due to the Presidents Day holiday.\nThe back story.There has been speculation over Apple’s vehicle ambitions since 2015, when The Wall Street Journalreported that it was gearing up to take on Tesla. The iPhone maker has been highly secretive about its plans for “Project Titan,” confirmed in 2016, which has evolved to encompass self-driving, or autonomous, electric vehicles.\nAnalysts have suspected that the Silicon Valley giant would partner with an existing auto maker to break into the capital-intensive vehicle industry.\nOn Feb. 8, Korean auto makersHyundaiandKiasaid they were no longer in talks with Apple over an autonomous electric-vehicle project, following widespread press and analyst speculation that a deal was near. That news had sent Hyundai stock down more than 6% and shares in Kia down 15%—eliminating a combined $8.5 billion in market value from the two companies.\nThe next day, Nissan’s chief executive Makoto Uchida was pressed in an earrings call on whether the company had been approached by Apple about a collaboration. Uchida avoided addressing Apple directly, but indicated that Nissan could partner with technology companies on building the next generation of cars.\nWhat’s new.Nissan confirmed on Monday that it was not in talks with Apple, but said it was open to exploring collaborations and partnerships to accelerate the vehicle industry.\nThe Financial Timeshad reported earlierthat there were discussions between the two groups over a partnership, but that talks had stalled over possible branding. According to the report, the discussions did not reach senior management levels.\nA source close to Nissantold Agence France-Pressethat “when you make a product under the Apple brand, you give your soul— and your profit margins— to Apple,” and that Nissan was “not interested in giving Apple the best that we offer.”\nLooking ahead.It makes sense that Apple would partner with a strong auto maker to realize its electric-vehicle dreams. With Nissan crossed off, following Hyundai and Kia, that list is narrowing.\nOn Feb. 7, just before Hyundai and Kia confirmed they were not involved with Apple, veteran technology analyst Daniel Ives of investment firm Wedbush, said it was a matter of “when not if” Apple entered the electric-vehicle race. Ives put the chances at 85% that the tech giant would announce a relevant partnership or collaboration within the next three to six months.\nIves singled out Hyundai as the most likely choice, withVolkswagen Group—which also makes Audi andPorsche—as the next best bet. With Hyundai out, investors should keep an eye on the German giant. The analyst also floated Tesla andFordas possible candidates.","news_type":1},"isVote":1,"tweetType":1,"viewCount":150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368563339,"gmtCreate":1614339056921,"gmtModify":1703476578668,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"long TSLA","listText":"long TSLA","text":"long TSLA","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/368563339","repostId":"2114326273","repostType":4,"isVote":1,"tweetType":1,"viewCount":76,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360212207,"gmtCreate":1613923292709,"gmtModify":1634551846181,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"Bad news","listText":"Bad news","text":"Bad news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/360212207","repostId":"1194607255","repostType":4,"repost":{"id":"1194607255","pubTimestamp":1613728971,"share":"https://www.laohu8.com/m/news/1194607255?lang=&edition=full","pubTime":"2021-02-19 18:02","market":"us","language":"en","title":"Uber drivers should be classified as workers not independent contractors, top UK court rules","url":"https://stock-news.laohu8.com/highlight/detail?id=1194607255","media":"cnbc","summary":"LONDON —Uberlost a crucial legal fight in the U.K. on Friday, as the country's Supreme Court upheld ","content":"<div>\n<p>LONDON —Uberlost a crucial legal fight in the U.K. on Friday, as the country's Supreme Court upheld a ruling that its drivers should be classified as workers rather than independent contractors.\nThe ...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/19/uk-supreme-court-rules-uber-drivers-are-workers-not-contractors.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Uber drivers should be classified as workers not independent contractors, top UK court rules</title>\n<style 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}\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\">\nUber drivers should be classified as workers not independent contractors, top UK court rules\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-19 18:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/19/uk-supreme-court-rules-uber-drivers-are-workers-not-contractors.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>LONDON —Uberlost a crucial legal fight in the U.K. on Friday, as the country's Supreme Court upheld a ruling that its drivers should be classified as workers rather than independent contractors.\nThe ...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/19/uk-supreme-court-rules-uber-drivers-are-workers-not-contractors.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/02/19/uk-supreme-court-rules-uber-drivers-are-workers-not-contractors.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1194607255","content_text":"LONDON —Uberlost a crucial legal fight in the U.K. on Friday, as the country's Supreme Court upheld a ruling that its drivers should be classified as workers rather than independent contractors.\nThe verdict concludes an almost five-year legal battle between Uber and a group of former drivers who claim they were workers entitled to employment rights like a minimum wage, holiday pay and rest breaks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":50,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366423892,"gmtCreate":1614555505716,"gmtModify":1703478106374,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"yes","listText":"yes","text":"yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/366423892","repostId":"2114343228","repostType":4,"isVote":1,"tweetType":1,"viewCount":201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360216443,"gmtCreate":1613923094882,"gmtModify":1634551846544,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/360216443","repostId":"2112149478","repostType":4,"repost":{"id":"2112149478","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1613724786,"share":"https://www.laohu8.com/m/news/2112149478?lang=&edition=full","pubTime":"2021-02-19 16:53","market":"other","language":"en","title":"Dollar slips further after disappointing jobs data, sterling shines","url":"https://stock-news.laohu8.com/highlight/detail?id=2112149478","media":"Reuters","summary":"LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after di","content":"<p>LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark.</p>\n<p>The U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback.</p>\n<p>But an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight.</p>\n<p>On Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.</p>\n<p>The string of soft labour data is weighing on the dollar even as other indicators have shown resilience, and as President Joe Biden's pandemic relief efforts take shape, including a proposed $1.9 trillion spending package.</p>\n<p>The euro rose 0.2% to $1.2113 . The single currency showed little reaction to German and French flash purchasing manager index data, which unsurprisingly showed a slowdown in activity in January.</p>\n<p>Despite the recent rise in U.S. yields, many analysts think they won't climb too much higher, limiting the benefit for the dollar.</p>\n<p>ING analysts said that \"the rise in rates will be self-regulating, meaning the dollar need not correct too much higher.\"</p>\n<p>They see the greenback index trading down to the 90.10 to 91.05 range&nbsp;Sterling has been the standout performer in 2021 and on Friday rose to $1.3987, an almost three-year high amid Britain's aggressive vaccination programme.</p>\n<p>Given the size of Britain's vital services sector, analysts say the faster it can reopen the economy the better for the currency.</p>\n<p>The dollar bought 105.46 yen , down 0.2% and a continued retreat from the five-month high of 106.225 reached Wednesday.</p>\n<p>Many analysts expect the dollar to weaken over the course of the year as it has traditionally done during times of global economic recovery, though it might take some time to develop.</p>\n<p>\"It looks to me like there’s some exhaustion in that just-straight global reflation theme,\" leading the dollar to trend largely sideways for now, said Daniel Been, head of FX at ANZ in Sydney.</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>Dollar slips further after disappointing jobs data, sterling shines</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDollar slips further after disappointing jobs data, sterling shines\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-02-19 16:53</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark.</p>\n<p>The U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback.</p>\n<p>But an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight.</p>\n<p>On Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.</p>\n<p>The string of soft labour data is weighing on the dollar even as other indicators have shown resilience, and as President Joe Biden's pandemic relief efforts take shape, including a proposed $1.9 trillion spending package.</p>\n<p>The euro rose 0.2% to $1.2113 . The single currency showed little reaction to German and French flash purchasing manager index data, which unsurprisingly showed a slowdown in activity in January.</p>\n<p>Despite the recent rise in U.S. yields, many analysts think they won't climb too much higher, limiting the benefit for the dollar.</p>\n<p>ING analysts said that \"the rise in rates will be self-regulating, meaning the dollar need not correct too much higher.\"</p>\n<p>They see the greenback index trading down to the 90.10 to 91.05 range&nbsp;Sterling has been the standout performer in 2021 and on Friday rose to $1.3987, an almost three-year high amid Britain's aggressive vaccination programme.</p>\n<p>Given the size of Britain's vital services sector, analysts say the faster it can reopen the economy the better for the currency.</p>\n<p>The dollar bought 105.46 yen , down 0.2% and a continued retreat from the five-month high of 106.225 reached Wednesday.</p>\n<p>Many analysts expect the dollar to weaken over the course of the year as it has traditionally done during times of global economic recovery, though it might take some time to develop.</p>\n<p>\"It looks to me like there’s some exhaustion in that just-straight global reflation theme,\" leading the dollar to trend largely sideways for now, said Daniel Been, head of FX at ANZ in Sydney.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ANZ.AU":"ANZ GROUP HOLDINGS LTD","FXA":"澳元ETF-CurrencyShares","FXE":"欧元做多ETF-CurrencyShares","FXC":"加元ETF-CurrencyShares","EUO":"欧元ETF-ProShares两倍做空","YCS":"日元ETF-ProShares两倍做空","FXY":"日元ETF-CurrencyShares"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2112149478","content_text":"LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark.\nThe U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback.\nBut an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight.\nOn Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.\nThe string of soft labour data is weighing on the dollar even as other indicators have shown resilience, and as President Joe Biden's pandemic relief efforts take shape, including a proposed $1.9 trillion spending package.\nThe euro rose 0.2% to $1.2113 . The single currency showed little reaction to German and French flash purchasing manager index data, which unsurprisingly showed a slowdown in activity in January.\nDespite the recent rise in U.S. yields, many analysts think they won't climb too much higher, limiting the benefit for the dollar.\nING analysts said that \"the rise in rates will be self-regulating, meaning the dollar need not correct too much higher.\"\nThey see the greenback index trading down to the 90.10 to 91.05 range Sterling has been the standout performer in 2021 and on Friday rose to $1.3987, an almost three-year high amid Britain's aggressive vaccination programme.\nGiven the size of Britain's vital services sector, analysts say the faster it can reopen the economy the better for the currency.\nThe dollar bought 105.46 yen , down 0.2% and a continued retreat from the five-month high of 106.225 reached Wednesday.\nMany analysts expect the dollar to weaken over the course of the year as it has traditionally done during times of global economic recovery, though it might take some time to develop.\n\"It looks to me like there’s some exhaustion in that just-straight global reflation theme,\" leading the dollar to trend largely sideways for now, said Daniel Been, head of FX at ANZ in Sydney.","news_type":1},"isVote":1,"tweetType":1,"viewCount":115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":388771640,"gmtCreate":1613103521880,"gmtModify":1634554511007,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"GBTC!","listText":"GBTC!","text":"GBTC!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/388771640","repostId":"1179092967","repostType":4,"repost":{"id":"1179092967","pubTimestamp":1613100617,"share":"https://www.laohu8.com/m/news/1179092967?lang=&edition=full","pubTime":"2021-02-12 11:30","market":"us","language":"en","title":"Not Just Tesla: Why Big Companies are Buying into Crypto-Mania","url":"https://stock-news.laohu8.com/highlight/detail?id=1179092967","media":"barrons","summary":"For months, there has beena consistent trickle of newsabout mainstream businesses getting involved in cryptocurrencies. In the past week, it has turned into a flood, helping to push the price of Bitcoin to a record of $48,297 on Thursday.The most buzzworthy move came from Tesla , which disclosed on Monday that it hasbought $1.5 billion worth of Bitcointo hold on its balance sheet. The company plans to let consumers use the currency to pay for cars.Mastercard  said on Wednesday that it will let m","content":"<p>For months, there has beena consistent trickle of newsabout mainstream businesses getting involved in cryptocurrencies. In the past week, it has turned into a flood, helping to push the price of Bitcoin to a record of $48,297 on Thursday.</p><p>The most buzzworthy move came from Tesla (ticker: TSLA), which disclosed on Monday that it hasbought $1.5 billion worth of Bitcointo hold on its balance sheet. The company plans to let consumers use the currency to pay for cars.</p><p>But Tesla isn’t the only one. On Thursday, BNY Mellon (BK), the oldest bank in the U.S.,said it will hold and transfer cryptocurrencies for customers. “Growing client demand for digital assets, maturity of advanced solutions, and improving regulatory clarity present a tremendous opportunity for us to extend our current service offerings to this emerging field,” said Roman Regelman, the bank’s CEO of asset servicing and head of digital.</p><p>Mastercard (MA) said on Wednesday that it will let merchants accept some cryptocurrencies through its network later this year. The payments will be converted to traditional money before it enters the companies’ systems.Twitter(TWTR) is also considering a Bitcoin investment. And Square (SQ) has already put some on its balance sheet, as well as given users of its Cash App access to buy the cryptocurrency.</p><p>Why is this happening now? Cryptocurrencies are still not particularly useful outside of a very few cases, such as cross-border transactions. Even there, they haven’t fully taken hold.</p><p>There are at least four big reasons corporations are diving in.</p><p>One is that some company founders believe in Bitcoin. Their excitement about the asset has convinced them that their companies need to be involved, or have cryptocurrency investments, even if Bitcoin isn’t really the core of their operations. That appears to be the case for Tesla and its CEO Elon Musk, and for a software company calledMicrostrategyand its CEO, Michael Saylor.</p><p>Microstrategy, whose entire market capitalization was below $1 billion early last year, now owns more than $2 billion of Bitcoin, and its market cap is now just under $10 billion. Saylor told<i>Barron’s</i>&nbsp;in an interview last yearthat he sees Bitcoin as a hedge against monetary debasement and inflation.</p><p>Square CEO Jack Dorsey ‘s fascination with Bitcoin also likely sped Square’s adoption. He has spoken about his interest in the currency for years.</p><p>Tesla’s purchase of Bitcoin is strong marketing for the company and the currency, said Dan Morehead, founder of the crypto hedge fund Pantera Capital. But it won’t likely change the way Bitcoin is used. “Tesla sells a half a million cars a year,” he said. “If they sold 4% in Bitcoin, I’d be surprised.” Morehead thinks Bitoin’s growing use for cross-border payments is much more exciting from a practical perspective.</p><p>Other companies are getting into Bitcoin because of customer demand. That appears to be the case for BNY Mellon, which is not known for making risky bets on new technologies. It could stay out of the industry altogether, but more institutional investors are buying Bitcoin and need somewhere to put it.</p><p>And the infrastructure around Bitcoin has grown, so that it now more closely resembles the systems used in the rest of the world of finance.. Big companies now insure cryptocurrencies or—as in the case ofJPMorgan Chase(JPM)—offer services to cryptocurrency businesses, even if most still don’t hold Bitcoin on their own balance sheets.</p><p>A third reason is increasing government acceptance of the trend. BNY cited greater regulatory clarity around Bitcoin as one reason it is diving in. The U.S. government has taken a mostly laissez-faire approach to regulating digital assets even as many of the illegal activities that cryptocurrency has been associated with in the past have continued. Without at least the tacit approval of regulators, crypto couldn’t have landed on the balance sheets of so many companies.</p><p>A fourth reason cryptocurrencies are gaining hold in corporate boardrooms is that they serve multiple purposes. That gives corporations several different rationales to hold the coins, or offer related services. Cryptocurrencies have the potential to go well beyond Bitcoin’s initial premise as a way to send money without financial intermediaries. So-called stablecoins, whose value is meant to track fiat currencies, could allow for faster transactions for some kinds of financial services, for instance.</p><p>Visa(V) andMasterCardseem like the last places in the world that Bitcoin would take hold given that Bitcoin was created to eliminate the middlemen in finance. Few companies fill the role of middleman as perfectly as the credit-card processors. Visa, however, thinks that cryptocurrencies are useful for many other purposes, and its trusted brand makes it an important player, according to Cuy Sheffield, head of crypto at the company.</p><p>“We’ve seen growing demand from clients across the world that want to be able to plug in and use these networks, but they want a global, neutral, trusted brand, to help them be able to do that,” Sheffield said in an interview. Visa said last week it has created software that allows bank customers to buy and hold cryptocurrencies through lenders’ websites.</p><p>Will old-line financial companies be the biggest beneficiaries of the crypto “revolution”? Michael Venuto, the chief investment officer of Toroso Investments, doesn’t think it will be easy for them to dominate this new world. Toroso created theAmplify Transformational Data SharingETF (ticker: BLOK), which invests in public companies involved in the technology behind Bitcoin.</p><p>“In terms of the self-referenced paradox of the old economy accepting the blockchain, it is simply inevitable,” Venuto wrote in an email to<i>Barron’s</i>. “If they don’t explore the blockchain they will be extinct. They understand that, but they are not aware of how big the changes will be or how fast they will happen. They have to evolve, but evolution can be messy.”</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Not Just Tesla: Why Big Companies are Buying into Crypto-Mania</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\">\nNot Just Tesla: Why Big Companies are Buying into Crypto-Mania\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-12 11:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/not-just-tesla-why-big-companies-are-buying-into-crypto-mania-51613069805?mod=hp_LEADSUPP_1><strong>barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For months, there has beena consistent trickle of newsabout mainstream businesses getting involved in cryptocurrencies. In the past week, it has turned into a flood, helping to push the price of ...</p>\n\n<a href=\"https://www.barrons.com/articles/not-just-tesla-why-big-companies-are-buying-into-crypto-mania-51613069805?mod=hp_LEADSUPP_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/414360f2ef7b5c785cb936b4a9b53a44","relate_stocks":{},"source_url":"https://www.barrons.com/articles/not-just-tesla-why-big-companies-are-buying-into-crypto-mania-51613069805?mod=hp_LEADSUPP_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179092967","content_text":"For months, there has beena consistent trickle of newsabout mainstream businesses getting involved in cryptocurrencies. In the past week, it has turned into a flood, helping to push the price of Bitcoin to a record of $48,297 on Thursday.The most buzzworthy move came from Tesla (ticker: TSLA), which disclosed on Monday that it hasbought $1.5 billion worth of Bitcointo hold on its balance sheet. The company plans to let consumers use the currency to pay for cars.But Tesla isn’t the only one. On Thursday, BNY Mellon (BK), the oldest bank in the U.S.,said it will hold and transfer cryptocurrencies for customers. “Growing client demand for digital assets, maturity of advanced solutions, and improving regulatory clarity present a tremendous opportunity for us to extend our current service offerings to this emerging field,” said Roman Regelman, the bank’s CEO of asset servicing and head of digital.Mastercard (MA) said on Wednesday that it will let merchants accept some cryptocurrencies through its network later this year. The payments will be converted to traditional money before it enters the companies’ systems.Twitter(TWTR) is also considering a Bitcoin investment. And Square (SQ) has already put some on its balance sheet, as well as given users of its Cash App access to buy the cryptocurrency.Why is this happening now? Cryptocurrencies are still not particularly useful outside of a very few cases, such as cross-border transactions. Even there, they haven’t fully taken hold.There are at least four big reasons corporations are diving in.One is that some company founders believe in Bitcoin. Their excitement about the asset has convinced them that their companies need to be involved, or have cryptocurrency investments, even if Bitcoin isn’t really the core of their operations. That appears to be the case for Tesla and its CEO Elon Musk, and for a software company calledMicrostrategyand its CEO, Michael Saylor.Microstrategy, whose entire market capitalization was below $1 billion early last year, now owns more than $2 billion of Bitcoin, and its market cap is now just under $10 billion. Saylor toldBarron’s in an interview last yearthat he sees Bitcoin as a hedge against monetary debasement and inflation.Square CEO Jack Dorsey ‘s fascination with Bitcoin also likely sped Square’s adoption. He has spoken about his interest in the currency for years.Tesla’s purchase of Bitcoin is strong marketing for the company and the currency, said Dan Morehead, founder of the crypto hedge fund Pantera Capital. But it won’t likely change the way Bitcoin is used. “Tesla sells a half a million cars a year,” he said. “If they sold 4% in Bitcoin, I’d be surprised.” Morehead thinks Bitoin’s growing use for cross-border payments is much more exciting from a practical perspective.Other companies are getting into Bitcoin because of customer demand. That appears to be the case for BNY Mellon, which is not known for making risky bets on new technologies. It could stay out of the industry altogether, but more institutional investors are buying Bitcoin and need somewhere to put it.And the infrastructure around Bitcoin has grown, so that it now more closely resembles the systems used in the rest of the world of finance.. Big companies now insure cryptocurrencies or—as in the case ofJPMorgan Chase(JPM)—offer services to cryptocurrency businesses, even if most still don’t hold Bitcoin on their own balance sheets.A third reason is increasing government acceptance of the trend. BNY cited greater regulatory clarity around Bitcoin as one reason it is diving in. The U.S. government has taken a mostly laissez-faire approach to regulating digital assets even as many of the illegal activities that cryptocurrency has been associated with in the past have continued. Without at least the tacit approval of regulators, crypto couldn’t have landed on the balance sheets of so many companies.A fourth reason cryptocurrencies are gaining hold in corporate boardrooms is that they serve multiple purposes. That gives corporations several different rationales to hold the coins, or offer related services. Cryptocurrencies have the potential to go well beyond Bitcoin’s initial premise as a way to send money without financial intermediaries. So-called stablecoins, whose value is meant to track fiat currencies, could allow for faster transactions for some kinds of financial services, for instance.Visa(V) andMasterCardseem like the last places in the world that Bitcoin would take hold given that Bitcoin was created to eliminate the middlemen in finance. Few companies fill the role of middleman as perfectly as the credit-card processors. Visa, however, thinks that cryptocurrencies are useful for many other purposes, and its trusted brand makes it an important player, according to Cuy Sheffield, head of crypto at the company.“We’ve seen growing demand from clients across the world that want to be able to plug in and use these networks, but they want a global, neutral, trusted brand, to help them be able to do that,” Sheffield said in an interview. Visa said last week it has created software that allows bank customers to buy and hold cryptocurrencies through lenders’ websites.Will old-line financial companies be the biggest beneficiaries of the crypto “revolution”? Michael Venuto, the chief investment officer of Toroso Investments, doesn’t think it will be easy for them to dominate this new world. Toroso created theAmplify Transformational Data SharingETF (ticker: BLOK), which invests in public companies involved in the technology behind Bitcoin.“In terms of the self-referenced paradox of the old economy accepting the blockchain, it is simply inevitable,” Venuto wrote in an email toBarron’s. “If they don’t explore the blockchain they will be extinct. They understand that, but they are not aware of how big the changes will be or how fast they will happen. They have to evolve, but evolution can be messy.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":68,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150143324,"gmtCreate":1624890833968,"gmtModify":1633947400555,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"[Applaud]&nbsp;","listText":"[Applaud]&nbsp;","text":"[Applaud]","images":[{"img":"https://static.tigerbbs.com/868774c522cc4e0db19a5f2ffdaf1346","width":"1242","height":"1767"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/150143324","isVote":1,"tweetType":1,"viewCount":147,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":365917727,"gmtCreate":1614689028569,"gmtModify":1703479884373,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"Long ROKU","listText":"Long ROKU","text":"Long ROKU","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/365917727","repostId":"1178558123","repostType":4,"repost":{"id":"1178558123","pubTimestamp":1614686592,"share":"https://www.laohu8.com/m/news/1178558123?lang=&edition=full","pubTime":"2021-03-02 20:03","market":"us","language":"en","title":"Roku announces up to $1B equity capital raise","url":"https://stock-news.laohu8.com/highlight/detail?id=1178558123","media":"seekingalpha","summary":"(March 2) Roku has signed anEquity Distribution Agreementwith Morgan Stanley, Citigroup Global Marke","content":"<p>(March 2)&nbsp;Roku&nbsp;has signed anEquity Distribution Agreementwith <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>, Citigroup Global Markets and Evercore Group as sales agents&nbsp;toissue up to $1B of&nbsp;Class A common stock.</p>\n<p>Net proceeds will be used for working capital and general corporate purposes, including sales and marketing activities, research and development activities, general and administrative matters, repayment of debt, other business opportunities and capital expenditures.</p>\n<p>The company may also use net proceeds to acquire or invest in businesses, products and technologies.</p>\n<p>Shares up&nbsp;0.83%&nbsp;premarket.</p>\n<p>Roku shares climbed yesterday on astrategic alliance with Nielsen.</p>\n<p><img src=\"https://static.tigerbbs.com/12980bacdd3dcedecefb8713fd540e79\" tg-width=\"1064\" tg-height=\"499\"></p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Roku announces up to $1B equity capital raise</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\">\nRoku announces up to $1B equity capital raise\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-02 20:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3668126-roku-announces-1b-equity-capital-raise><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(March 2) Roku has signed anEquity Distribution Agreementwith Morgan Stanley, Citigroup Global Markets and Evercore Group as sales agents toissue up to $1B of Class A common stock.\nNet proceeds will ...</p>\n\n<a href=\"https://seekingalpha.com/news/3668126-roku-announces-1b-equity-capital-raise\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc"},"source_url":"https://seekingalpha.com/news/3668126-roku-announces-1b-equity-capital-raise","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1178558123","content_text":"(March 2) Roku has signed anEquity Distribution Agreementwith Morgan Stanley, Citigroup Global Markets and Evercore Group as sales agents toissue up to $1B of Class A common stock.\nNet proceeds will be used for working capital and general corporate purposes, including sales and marketing activities, research and development activities, general and administrative matters, repayment of debt, other business opportunities and capital expenditures.\nThe company may also use net proceeds to acquire or invest in businesses, products and technologies.\nShares up 0.83% premarket.\nRoku shares climbed yesterday on astrategic alliance with Nielsen.","news_type":1},"isVote":1,"tweetType":1,"viewCount":163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387917314,"gmtCreate":1613708865638,"gmtModify":1634552555292,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"Sitting in sidelines 👀","listText":"Sitting in sidelines 👀","text":"Sitting in sidelines 👀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/387917314","repostId":"1103921295","repostType":4,"repost":{"id":"1103921295","pubTimestamp":1613706165,"share":"https://www.laohu8.com/m/news/1103921295?lang=&edition=full","pubTime":"2021-02-19 11:42","market":"us","language":"en","title":"GameStop hearing challenges assumptions about rookie investors","url":"https://stock-news.laohu8.com/highlight/detail?id=1103921295","media":"Marketwatch","summary":"Robinhood CEO Vlad Tenev discussed average account sizes and user demographics during a congressiona","content":"<blockquote>\n <b>Robinhood CEO Vlad Tenev discussed average account sizes and user demographics during a congressional hearing on GameStop’s rise and fall.</b>\n</blockquote>\n<p>YOLO? Maybe not quite so.</p>\n<p>During the GameStop trading frenzy, some observers worried many rookie retail investors banding together on sites like Reddit’s WallStreetBets would bet big — a so-called “YOLO trade” in the forum’sslang— andend up losing badly.</p>\n<p>No doubt, this wasa serious event that rocked the stock market, bringing it “dangerously close” to collapse, according to Thomas Peterffy, founder and chairman of Interactive Brokers Group.</p>\n<p>But at a closely-watched congressional hearing Thursday on the rise and fall of GameStop shares and other so-called “meme stocks,” statements by one of the key players in the trading firestorm revealed that young investors generally aren’t betting big to reap quick gains.</p>\n<p>“Contrary to some very misleading and highly uninformed reports, we see evidence that most of our customers are investing for the long term,” said Vlad Tenev, CEO of Robinhood, the popular trading platform that caughtmassive irefor temporarily restricting trades on GameStopGME,-11.43%,AMC EntertainmentAMC,-0.72%and several other companies. As the hearing continued, he repeated that point under lawmaker questions.</p>\n<p>“What we see is generally not consistent with popular memes suggesting that most of our brokerage customers are unsophisticated day traders taking inordinate risks with large sums of money on complex financial products,”Tenev wrote in prepared testimony submitted ahead of the hearing,pushing back on the idea that his companyencouraged reckless tradingon a platform with 13 million users.</p>\n<p>Just 2% of Robinhood users qualified as “pattern day traders” who made four or more trades within five business days, he said. Thirteen percent traded basic options contracts, which can be higher risk, higher reward than straight-ahead buying or selling.</p>\n<p>In the face of some pointed questions, he also insisted Robinhood isn’t trying to turn the user experience into a game. “We know investing is serious and that’s why most of our customers are buy and hold,” he said.</p>\n<p>(Before the GameStop saga, Massachusetts state regulators filed a complaint against Robinhood for allegedly making trading seem too fun until loses occur. The company previously said itdisputes the allegation.)</p>\n<p>Tenev and lawmakershave sparredon what Robinhood should and shouldn’t have done during the GameStop saga. GameStop shares once traded at a high point of $483. By Thursday’s market close, GameStop shares were $40.69.</p>\n<p>But either way, Tenev’s testimony gave an interesting peek at who the newest retail investors are and how much money they are pouring into the market. After all, retail investors were already increasingly entering the stock market before the GameStop drama started.</p>\n<p>Fifty-five percent of Americans directly own stock, according to aGallup surveylast year, while 32% of 18- to 29-year-olds said they owned stock.</p>\n<p>The median age of Robinhood investors is 31 and half of users say they are first-time investors. The median account size is about $240, according to Tenev’s statement, and the average account size is about $5,000.</p>\n<p>The fact that 13% of Robinhood users are trading options gives some advocates pause. Barbara Roper, director of investor protection at the Consumer Federation of America,saidthat “strikes us as a pretty high percentage when you consider the characteristics of Robinhood’s customer base (disproportionately young, first-time investors with small accounts).”</p>\n<p>Robinhood investors also tend to be a slightly more racially diverse crowd, according to Tenev’s testimony. Nine percent of users are Black, compared to 3% at other firms and 16% are Hispanic, versus 7% at other firms, according to Tenev’s statement.</p>\n<p>“Retail investors making up this new surge are different,” testified Jennifer Schulp, the Cato Institute’s director of financial regulation studies.</p>\n<p>Retail investors are nicknamed as“dumb money”on Wall Street, Schulp said. “I think it’s insulting. I think the term needs to go out the window. I think the GameStop situation is proof the retail investors are revolutionizing the market …. I think the retail investors here are learning by doing, which is one of the best ways to learn.”</p>\n<p>She pointed to research from theFINRA Investor Education Foundationreleased earlier this month digging into the demographics and account balances of new retail investors.</p>\n<p>One-third of new investors who opened a taxable investment account for the first time in 2020 said they had account balances of less than $500, versus 16% of experienced investors. Twenty-three percent of new investors had account balances up to $2,000. Twenty percent of experienced investors had account balances up to $2,000.</p>\n<p>The survey found a more racially diverse set of new investors, with 17% of new investors being Black. Seven percent of experienced investors are Black, the poll said.</p>\n<p>As the hearing continued, some lawmakers questioned whether more guardrails need to be in place, while others said lawmakers shouldn’t condescend to retail investors and assume they know best.</p>\n<p>“Many Americans feel that the system is stacked against them and no matter what, Wall Street always wins,” said Rep. Maxine Waters, who chairs the House Financial Services Committee. “In this instance, many retail investors appeared motivated by a desire to beat Wall Street at its own game and given the losses that many retail investors have sustained as a result of volatility in the system, there are many whose beliefs that the system is rigged against them has been reinforced.”</p>\n<p>The GameStop saga was a “fundamental change,” said Rep. Patrick McHenry, the ranking Republican on the committee. The swell in trading was propelled by social media and a wealth of new information at investors’ fingertips.</p>\n<p>“I think if we’ve learned anything from these past few weeks, it’s that these average everyday investors are pretty darn sophisticated,” McHenry said. “There is wisdom to the crowd.”</p>\n<p>The government needs to make it easier for everyday investors to buy into the market, he said. “Instead of shutting the American public out through new regulations, new forms of taxation or so-called protections, let’s use this opprotunity to side with them.”</p>\n<p>One of the witnesses was Keith Gill, a 34-year-old independent investor with online handles like “Roaring Kitty” who turned his GameStop investment into millions. He made all his investment decisions based on publicly-availabile information, he told Congress.</p>\n<p>“I would be the first to acknowledge that investing in stocks and options is incredibly risky, and it’s so important for people to do their own thorough research before investing,” Gill said. “Folks should be able to freely express their views on a stock, and they should be able to buy or not buy a stock based on those views.”</p>\n<p>GameStop shares are up nearly 116% year-to-date. The Dow Jones Industrial Average&nbsp;is up nearly 3% and the S&amp;P 500&nbsp;is up more than 4% in 2021.</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>GameStop hearing challenges assumptions about rookie investors</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\">\nGameStop hearing challenges assumptions about rookie investors\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-19 11:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/gamestop-hearing-challenges-assumptions-about-rookie-investors-retail-investors-making-up-this-new-surge-are-different-11613680041?mod=home-page><strong>Marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Robinhood CEO Vlad Tenev discussed average account sizes and user demographics during a congressional hearing on GameStop’s rise and fall.\n\nYOLO? Maybe not quite so.\nDuring the GameStop trading frenzy...</p>\n\n<a href=\"https://www.marketwatch.com/story/gamestop-hearing-challenges-assumptions-about-rookie-investors-retail-investors-making-up-this-new-surge-are-different-11613680041?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":{"GME":"游戏驿站"},"source_url":"https://www.marketwatch.com/story/gamestop-hearing-challenges-assumptions-about-rookie-investors-retail-investors-making-up-this-new-surge-are-different-11613680041?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1103921295","content_text":"Robinhood CEO Vlad Tenev discussed average account sizes and user demographics during a congressional hearing on GameStop’s rise and fall.\n\nYOLO? Maybe not quite so.\nDuring the GameStop trading frenzy, some observers worried many rookie retail investors banding together on sites like Reddit’s WallStreetBets would bet big — a so-called “YOLO trade” in the forum’sslang— andend up losing badly.\nNo doubt, this wasa serious event that rocked the stock market, bringing it “dangerously close” to collapse, according to Thomas Peterffy, founder and chairman of Interactive Brokers Group.\nBut at a closely-watched congressional hearing Thursday on the rise and fall of GameStop shares and other so-called “meme stocks,” statements by one of the key players in the trading firestorm revealed that young investors generally aren’t betting big to reap quick gains.\n“Contrary to some very misleading and highly uninformed reports, we see evidence that most of our customers are investing for the long term,” said Vlad Tenev, CEO of Robinhood, the popular trading platform that caughtmassive irefor temporarily restricting trades on GameStopGME,-11.43%,AMC EntertainmentAMC,-0.72%and several other companies. As the hearing continued, he repeated that point under lawmaker questions.\n“What we see is generally not consistent with popular memes suggesting that most of our brokerage customers are unsophisticated day traders taking inordinate risks with large sums of money on complex financial products,”Tenev wrote in prepared testimony submitted ahead of the hearing,pushing back on the idea that his companyencouraged reckless tradingon a platform with 13 million users.\nJust 2% of Robinhood users qualified as “pattern day traders” who made four or more trades within five business days, he said. Thirteen percent traded basic options contracts, which can be higher risk, higher reward than straight-ahead buying or selling.\nIn the face of some pointed questions, he also insisted Robinhood isn’t trying to turn the user experience into a game. “We know investing is serious and that’s why most of our customers are buy and hold,” he said.\n(Before the GameStop saga, Massachusetts state regulators filed a complaint against Robinhood for allegedly making trading seem too fun until loses occur. The company previously said itdisputes the allegation.)\nTenev and lawmakershave sparredon what Robinhood should and shouldn’t have done during the GameStop saga. GameStop shares once traded at a high point of $483. By Thursday’s market close, GameStop shares were $40.69.\nBut either way, Tenev’s testimony gave an interesting peek at who the newest retail investors are and how much money they are pouring into the market. After all, retail investors were already increasingly entering the stock market before the GameStop drama started.\nFifty-five percent of Americans directly own stock, according to aGallup surveylast year, while 32% of 18- to 29-year-olds said they owned stock.\nThe median age of Robinhood investors is 31 and half of users say they are first-time investors. The median account size is about $240, according to Tenev’s statement, and the average account size is about $5,000.\nThe fact that 13% of Robinhood users are trading options gives some advocates pause. Barbara Roper, director of investor protection at the Consumer Federation of America,saidthat “strikes us as a pretty high percentage when you consider the characteristics of Robinhood’s customer base (disproportionately young, first-time investors with small accounts).”\nRobinhood investors also tend to be a slightly more racially diverse crowd, according to Tenev’s testimony. Nine percent of users are Black, compared to 3% at other firms and 16% are Hispanic, versus 7% at other firms, according to Tenev’s statement.\n“Retail investors making up this new surge are different,” testified Jennifer Schulp, the Cato Institute’s director of financial regulation studies.\nRetail investors are nicknamed as“dumb money”on Wall Street, Schulp said. “I think it’s insulting. I think the term needs to go out the window. I think the GameStop situation is proof the retail investors are revolutionizing the market …. I think the retail investors here are learning by doing, which is one of the best ways to learn.”\nShe pointed to research from theFINRA Investor Education Foundationreleased earlier this month digging into the demographics and account balances of new retail investors.\nOne-third of new investors who opened a taxable investment account for the first time in 2020 said they had account balances of less than $500, versus 16% of experienced investors. Twenty-three percent of new investors had account balances up to $2,000. Twenty percent of experienced investors had account balances up to $2,000.\nThe survey found a more racially diverse set of new investors, with 17% of new investors being Black. Seven percent of experienced investors are Black, the poll said.\nAs the hearing continued, some lawmakers questioned whether more guardrails need to be in place, while others said lawmakers shouldn’t condescend to retail investors and assume they know best.\n“Many Americans feel that the system is stacked against them and no matter what, Wall Street always wins,” said Rep. Maxine Waters, who chairs the House Financial Services Committee. “In this instance, many retail investors appeared motivated by a desire to beat Wall Street at its own game and given the losses that many retail investors have sustained as a result of volatility in the system, there are many whose beliefs that the system is rigged against them has been reinforced.”\nThe GameStop saga was a “fundamental change,” said Rep. Patrick McHenry, the ranking Republican on the committee. The swell in trading was propelled by social media and a wealth of new information at investors’ fingertips.\n“I think if we’ve learned anything from these past few weeks, it’s that these average everyday investors are pretty darn sophisticated,” McHenry said. “There is wisdom to the crowd.”\nThe government needs to make it easier for everyday investors to buy into the market, he said. “Instead of shutting the American public out through new regulations, new forms of taxation or so-called protections, let’s use this opprotunity to side with them.”\nOne of the witnesses was Keith Gill, a 34-year-old independent investor with online handles like “Roaring Kitty” who turned his GameStop investment into millions. He made all his investment decisions based on publicly-availabile information, he told Congress.\n“I would be the first to acknowledge that investing in stocks and options is incredibly risky, and it’s so important for people to do their own thorough research before investing,” Gill said. “Folks should be able to freely express their views on a stock, and they should be able to buy or not buy a stock based on those views.”\nGameStop shares are up nearly 116% year-to-date. The Dow Jones Industrial Average is up nearly 3% and the S&P 500 is up more than 4% in 2021.","news_type":1},"isVote":1,"tweetType":1,"viewCount":58,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382382289,"gmtCreate":1613363963941,"gmtModify":1634553848851,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"lol Dow","listText":"lol Dow","text":"lol Dow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/382382289","repostId":"2110026963","repostType":4,"repost":{"id":"2110026963","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1613109422,"share":"https://www.laohu8.com/m/news/2110026963?lang=&edition=full","pubTime":"2021-02-12 13:57","market":"us","language":"en","title":"Here's the formula for spotting genuinely undervalued companies, claims this investment house","url":"https://stock-news.laohu8.com/highlight/detail?id=2110026963","media":"Dow Jones","summary":"The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis. For most of 2020, investors poured money into names like online retailer Amazon $$, electric-car maker Tesla $$, and e-commerce platform Shopify -- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.But when news broke in early November 2020 that drug company Pfizer $$ and its partner BioNTech $$ had developed an effective vaccine against COVID-19, something pro","content":"<p>MW Here's the formula for spotting genuinely undervalued companies, claims this investment house</p>\n<p>The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis</p>\n<p>For most of 2020, investors poured money into names like online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.</p>\n<p>But when news broke in early November 2020 that drug company Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and its partner BioNTech <a href=\"https://laohu8.com/S/BNTX\">$(BNTX)$</a> had developed an effective vaccine against COVID-19, something profound happened in financial markets.</p>\n<p>Investors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.</p>\n<p>This rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.</p>\n<p>And it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.</p>\n<p>The apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.</p>\n<p>\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.</p>\n<p>\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"</p>\n<p>Analysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.</p>\n<p>The value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.</p>\n<p>In reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.</p>\n<p>Stocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.</p>\n<p>To have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.</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>Here's the formula for spotting genuinely undervalued companies, claims this investment house</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\">\nHere's the formula for spotting genuinely undervalued companies, claims this investment house\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-02-12 13:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>MW Here's the formula for spotting genuinely undervalued companies, claims this investment house</p>\n<p>The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis</p>\n<p>For most of 2020, investors poured money into names like online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.</p>\n<p>But when news broke in early November 2020 that drug company Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and its partner BioNTech <a href=\"https://laohu8.com/S/BNTX\">$(BNTX)$</a> had developed an effective vaccine against COVID-19, something profound happened in financial markets.</p>\n<p>Investors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.</p>\n<p>This rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.</p>\n<p>And it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.</p>\n<p>The apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.</p>\n<p>\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.</p>\n<p>\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"</p>\n<p>Analysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.</p>\n<p>The value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.</p>\n<p>In reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.</p>\n<p>Stocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.</p>\n<p>To have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/15e20574f8fb568333181d61bb200086","relate_stocks":{"TSLA":"特斯拉","PFE":"辉瑞","AMZN":"亚马逊"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2110026963","content_text":"MW Here's the formula for spotting genuinely undervalued companies, claims this investment house\nThe growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis\nFor most of 2020, investors poured money into names like online retailer Amazon $(AMZN)$, electric-car maker Tesla $(TSLA)$, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.\nBut when news broke in early November 2020 that drug company Pfizer $(PFE)$ and its partner BioNTech $(BNTX)$ had developed an effective vaccine against COVID-19, something profound happened in financial markets.\nInvestors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.\nThis rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.\nAnd it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.\nThe apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.\n\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.\n\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"\nAnalysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.\nThe value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.\nIn reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.\nStocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.\nTo have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.","news_type":1},"isVote":1,"tweetType":1,"viewCount":183,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":386540438,"gmtCreate":1613218377924,"gmtModify":1634554134006,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"Cryptocurrency is not a mania.&nbsp;","listText":"Cryptocurrency is not a mania.&nbsp;","text":"Cryptocurrency is not a mania.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/386540438","repostId":"1179092967","repostType":4,"repost":{"id":"1179092967","pubTimestamp":1613100617,"share":"https://www.laohu8.com/m/news/1179092967?lang=&edition=full","pubTime":"2021-02-12 11:30","market":"us","language":"en","title":"Not Just Tesla: Why Big Companies are Buying into Crypto-Mania","url":"https://stock-news.laohu8.com/highlight/detail?id=1179092967","media":"barrons","summary":"For months, there has beena consistent trickle of newsabout mainstream businesses getting involved in cryptocurrencies. In the past week, it has turned into a flood, helping to push the price of Bitcoin to a record of $48,297 on Thursday.The most buzzworthy move came from Tesla , which disclosed on Monday that it hasbought $1.5 billion worth of Bitcointo hold on its balance sheet. The company plans to let consumers use the currency to pay for cars.Mastercard  said on Wednesday that it will let m","content":"<p>For months, there has beena consistent trickle of newsabout mainstream businesses getting involved in cryptocurrencies. In the past week, it has turned into a flood, helping to push the price of Bitcoin to a record of $48,297 on Thursday.</p><p>The most buzzworthy move came from Tesla (ticker: TSLA), which disclosed on Monday that it hasbought $1.5 billion worth of Bitcointo hold on its balance sheet. The company plans to let consumers use the currency to pay for cars.</p><p>But Tesla isn’t the only one. On Thursday, BNY Mellon (BK), the oldest bank in the U.S.,said it will hold and transfer cryptocurrencies for customers. “Growing client demand for digital assets, maturity of advanced solutions, and improving regulatory clarity present a tremendous opportunity for us to extend our current service offerings to this emerging field,” said Roman Regelman, the bank’s CEO of asset servicing and head of digital.</p><p>Mastercard (MA) said on Wednesday that it will let merchants accept some cryptocurrencies through its network later this year. The payments will be converted to traditional money before it enters the companies’ systems.Twitter(TWTR) is also considering a Bitcoin investment. And Square (SQ) has already put some on its balance sheet, as well as given users of its Cash App access to buy the cryptocurrency.</p><p>Why is this happening now? Cryptocurrencies are still not particularly useful outside of a very few cases, such as cross-border transactions. Even there, they haven’t fully taken hold.</p><p>There are at least four big reasons corporations are diving in.</p><p>One is that some company founders believe in Bitcoin. Their excitement about the asset has convinced them that their companies need to be involved, or have cryptocurrency investments, even if Bitcoin isn’t really the core of their operations. That appears to be the case for Tesla and its CEO Elon Musk, and for a software company calledMicrostrategyand its CEO, Michael Saylor.</p><p>Microstrategy, whose entire market capitalization was below $1 billion early last year, now owns more than $2 billion of Bitcoin, and its market cap is now just under $10 billion. Saylor told<i>Barron’s</i>&nbsp;in an interview last yearthat he sees Bitcoin as a hedge against monetary debasement and inflation.</p><p>Square CEO Jack Dorsey ‘s fascination with Bitcoin also likely sped Square’s adoption. He has spoken about his interest in the currency for years.</p><p>Tesla’s purchase of Bitcoin is strong marketing for the company and the currency, said Dan Morehead, founder of the crypto hedge fund Pantera Capital. But it won’t likely change the way Bitcoin is used. “Tesla sells a half a million cars a year,” he said. “If they sold 4% in Bitcoin, I’d be surprised.” Morehead thinks Bitoin’s growing use for cross-border payments is much more exciting from a practical perspective.</p><p>Other companies are getting into Bitcoin because of customer demand. That appears to be the case for BNY Mellon, which is not known for making risky bets on new technologies. It could stay out of the industry altogether, but more institutional investors are buying Bitcoin and need somewhere to put it.</p><p>And the infrastructure around Bitcoin has grown, so that it now more closely resembles the systems used in the rest of the world of finance.. Big companies now insure cryptocurrencies or—as in the case ofJPMorgan Chase(JPM)—offer services to cryptocurrency businesses, even if most still don’t hold Bitcoin on their own balance sheets.</p><p>A third reason is increasing government acceptance of the trend. BNY cited greater regulatory clarity around Bitcoin as one reason it is diving in. The U.S. government has taken a mostly laissez-faire approach to regulating digital assets even as many of the illegal activities that cryptocurrency has been associated with in the past have continued. Without at least the tacit approval of regulators, crypto couldn’t have landed on the balance sheets of so many companies.</p><p>A fourth reason cryptocurrencies are gaining hold in corporate boardrooms is that they serve multiple purposes. That gives corporations several different rationales to hold the coins, or offer related services. Cryptocurrencies have the potential to go well beyond Bitcoin’s initial premise as a way to send money without financial intermediaries. So-called stablecoins, whose value is meant to track fiat currencies, could allow for faster transactions for some kinds of financial services, for instance.</p><p>Visa(V) andMasterCardseem like the last places in the world that Bitcoin would take hold given that Bitcoin was created to eliminate the middlemen in finance. Few companies fill the role of middleman as perfectly as the credit-card processors. Visa, however, thinks that cryptocurrencies are useful for many other purposes, and its trusted brand makes it an important player, according to Cuy Sheffield, head of crypto at the company.</p><p>“We’ve seen growing demand from clients across the world that want to be able to plug in and use these networks, but they want a global, neutral, trusted brand, to help them be able to do that,” Sheffield said in an interview. Visa said last week it has created software that allows bank customers to buy and hold cryptocurrencies through lenders’ websites.</p><p>Will old-line financial companies be the biggest beneficiaries of the crypto “revolution”? Michael Venuto, the chief investment officer of Toroso Investments, doesn’t think it will be easy for them to dominate this new world. Toroso created theAmplify Transformational Data SharingETF (ticker: BLOK), which invests in public companies involved in the technology behind Bitcoin.</p><p>“In terms of the self-referenced paradox of the old economy accepting the blockchain, it is simply inevitable,” Venuto wrote in an email to<i>Barron’s</i>. “If they don’t explore the blockchain they will be extinct. They understand that, but they are not aware of how big the changes will be or how fast they will happen. They have to evolve, but evolution can be messy.”</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Not Just Tesla: Why Big Companies are Buying into Crypto-Mania</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\">\nNot Just Tesla: Why Big Companies are Buying into Crypto-Mania\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-12 11:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/not-just-tesla-why-big-companies-are-buying-into-crypto-mania-51613069805?mod=hp_LEADSUPP_1><strong>barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For months, there has beena consistent trickle of newsabout mainstream businesses getting involved in cryptocurrencies. In the past week, it has turned into a flood, helping to push the price of ...</p>\n\n<a href=\"https://www.barrons.com/articles/not-just-tesla-why-big-companies-are-buying-into-crypto-mania-51613069805?mod=hp_LEADSUPP_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/414360f2ef7b5c785cb936b4a9b53a44","relate_stocks":{},"source_url":"https://www.barrons.com/articles/not-just-tesla-why-big-companies-are-buying-into-crypto-mania-51613069805?mod=hp_LEADSUPP_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179092967","content_text":"For months, there has beena consistent trickle of newsabout mainstream businesses getting involved in cryptocurrencies. In the past week, it has turned into a flood, helping to push the price of Bitcoin to a record of $48,297 on Thursday.The most buzzworthy move came from Tesla (ticker: TSLA), which disclosed on Monday that it hasbought $1.5 billion worth of Bitcointo hold on its balance sheet. The company plans to let consumers use the currency to pay for cars.But Tesla isn’t the only one. On Thursday, BNY Mellon (BK), the oldest bank in the U.S.,said it will hold and transfer cryptocurrencies for customers. “Growing client demand for digital assets, maturity of advanced solutions, and improving regulatory clarity present a tremendous opportunity for us to extend our current service offerings to this emerging field,” said Roman Regelman, the bank’s CEO of asset servicing and head of digital.Mastercard (MA) said on Wednesday that it will let merchants accept some cryptocurrencies through its network later this year. The payments will be converted to traditional money before it enters the companies’ systems.Twitter(TWTR) is also considering a Bitcoin investment. And Square (SQ) has already put some on its balance sheet, as well as given users of its Cash App access to buy the cryptocurrency.Why is this happening now? Cryptocurrencies are still not particularly useful outside of a very few cases, such as cross-border transactions. Even there, they haven’t fully taken hold.There are at least four big reasons corporations are diving in.One is that some company founders believe in Bitcoin. Their excitement about the asset has convinced them that their companies need to be involved, or have cryptocurrency investments, even if Bitcoin isn’t really the core of their operations. That appears to be the case for Tesla and its CEO Elon Musk, and for a software company calledMicrostrategyand its CEO, Michael Saylor.Microstrategy, whose entire market capitalization was below $1 billion early last year, now owns more than $2 billion of Bitcoin, and its market cap is now just under $10 billion. Saylor toldBarron’s in an interview last yearthat he sees Bitcoin as a hedge against monetary debasement and inflation.Square CEO Jack Dorsey ‘s fascination with Bitcoin also likely sped Square’s adoption. He has spoken about his interest in the currency for years.Tesla’s purchase of Bitcoin is strong marketing for the company and the currency, said Dan Morehead, founder of the crypto hedge fund Pantera Capital. But it won’t likely change the way Bitcoin is used. “Tesla sells a half a million cars a year,” he said. “If they sold 4% in Bitcoin, I’d be surprised.” Morehead thinks Bitoin’s growing use for cross-border payments is much more exciting from a practical perspective.Other companies are getting into Bitcoin because of customer demand. That appears to be the case for BNY Mellon, which is not known for making risky bets on new technologies. It could stay out of the industry altogether, but more institutional investors are buying Bitcoin and need somewhere to put it.And the infrastructure around Bitcoin has grown, so that it now more closely resembles the systems used in the rest of the world of finance.. Big companies now insure cryptocurrencies or—as in the case ofJPMorgan Chase(JPM)—offer services to cryptocurrency businesses, even if most still don’t hold Bitcoin on their own balance sheets.A third reason is increasing government acceptance of the trend. BNY cited greater regulatory clarity around Bitcoin as one reason it is diving in. The U.S. government has taken a mostly laissez-faire approach to regulating digital assets even as many of the illegal activities that cryptocurrency has been associated with in the past have continued. Without at least the tacit approval of regulators, crypto couldn’t have landed on the balance sheets of so many companies.A fourth reason cryptocurrencies are gaining hold in corporate boardrooms is that they serve multiple purposes. That gives corporations several different rationales to hold the coins, or offer related services. Cryptocurrencies have the potential to go well beyond Bitcoin’s initial premise as a way to send money without financial intermediaries. So-called stablecoins, whose value is meant to track fiat currencies, could allow for faster transactions for some kinds of financial services, for instance.Visa(V) andMasterCardseem like the last places in the world that Bitcoin would take hold given that Bitcoin was created to eliminate the middlemen in finance. Few companies fill the role of middleman as perfectly as the credit-card processors. Visa, however, thinks that cryptocurrencies are useful for many other purposes, and its trusted brand makes it an important player, according to Cuy Sheffield, head of crypto at the company.“We’ve seen growing demand from clients across the world that want to be able to plug in and use these networks, but they want a global, neutral, trusted brand, to help them be able to do that,” Sheffield said in an interview. Visa said last week it has created software that allows bank customers to buy and hold cryptocurrencies through lenders’ websites.Will old-line financial companies be the biggest beneficiaries of the crypto “revolution”? Michael Venuto, the chief investment officer of Toroso Investments, doesn’t think it will be easy for them to dominate this new world. Toroso created theAmplify Transformational Data SharingETF (ticker: BLOK), which invests in public companies involved in the technology behind Bitcoin.“In terms of the self-referenced paradox of the old economy accepting the blockchain, it is simply inevitable,” Venuto wrote in an email toBarron’s. “If they don’t explore the blockchain they will be extinct. They understand that, but they are not aware of how big the changes will be or how fast they will happen. They have to evolve, but evolution can be messy.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":218,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140824960,"gmtCreate":1625647936050,"gmtModify":1633938746745,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"[Onlooker]&nbsp;","listText":"[Onlooker]&nbsp;","text":"[Onlooker]","images":[{"img":"https://static.tigerbbs.com/0b46c6ec8eba6b24738ebb0ed1fb07fd","width":"1242","height":"1767"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/140824960","isVote":1,"tweetType":1,"viewCount":47,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":156413939,"gmtCreate":1625233845721,"gmtModify":1633942256275,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"[Sly]&nbsp;","listText":"[Sly]&nbsp;","text":"[Sly]","images":[{"img":"https://static.tigerbbs.com/597fe11a4f8ebec3813412f1cf0ae73f","width":"1242","height":"1767"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/156413939","isVote":1,"tweetType":1,"viewCount":117,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":361555699,"gmtCreate":1614248959511,"gmtModify":1634550489087,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"no","listText":"no","text":"no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/361555699","repostId":"2113367475","repostType":4,"repost":{"id":"2113367475","pubTimestamp":1614238434,"share":"https://www.laohu8.com/m/news/2113367475?lang=&edition=full","pubTime":"2021-02-25 15:33","market":"us","language":"en","title":"Is Dropbox Stock a Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=2113367475","media":"Leo Sun","summary":"The cloud storage provider still faces an uphill battle in 2021.","content":"<p><b>Dropbox</b>'s (NASDAQ:DBX) stock price recently dipped after the cloud storage service provider posted its fourth-quarter earnings. Its revenue rose 13% year over year to $504.1 million, beating estimates by $5.4 million.</p>\n<p>Its adjusted net income jumped 75% to $117.9 million, or $0.28 per share, which also cleared expectations by four cents. Those growth rates look solid, so why weren't investors more impressed?</p>\n<p>Let's dig deeper into Dropbox's strengths and weaknesses to see if it's still worth buying.</p>\n<p><b>How does Dropbox make money?</b></p>\n<p>Dropbox operates a freemium model, which grants paid users more storage and additional features. It offers 2GB of storage for free users, and individuals who pay $9.99 per month get 2TB of storage. A new family plan splits 2TB between six users for $16.99 a month, while its enterprise plans start at $12.50.</p>\n<p><img src=\"https://static.tigerbbs.com/9c94cda2768b544bdd620c1e61c47ae7\" tg-width=\"700\" tg-height=\"393\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Box</b> (NYSE:BOX), its smaller competitor, provides 10GB of free storage, but users who pay $10 a month only get 100GB of storage. However, Box's enterprise plans start at just $5 a month.</p>\n<p>Dropbox and Box both face intense competition from tech giants like<b>Microsoft</b> (NASDAQ:MSFT),<b>Alphabet</b>'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, and<b>Amazon</b>(NASDAQ:AMZN), which can all afford to offer similar services at lower prices.</p>\n<p><b>The key growth rates</b></p>\n<p>Dropbox believes it can continue to attract new individuals and businesses that don't want to be tethered to those big tech giants. After all, it still ranks second in the cloud storage market after Google Drive, according to Datanyze, followed by Microsoft, privately held<b>Egynte</b>, and Box.</p>\n<p>However, Dropbox's revenue only rose 15% in fiscal 2020, compared to its 19% growth in&nbsp;2019 and 26% growth in 2018.&nbsp;Its growth in paid users also decelerated over the past year.</p>\n<p><img src=\"https://static.tigerbbs.com/2ddc13f2fc431235d2414446686640c4\" tg-width=\"1157\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p>\n<p>On the bright side, Dropbox's ARPPU (average revenue per paying user) continued climbing, and its gross and operating margins expanded.</p>\n<p><img src=\"https://static.tigerbbs.com/aeb45fd326272095fcdcf2cd6dd239dc\" tg-width=\"1158\" tg-height=\"372\"></p>\n<p>Dropbox attributed its stable ARPPU growth to the growing adoption of its family plan, which was launched in late 2020; new features like Vault, which adds an additional layer of security for sensitive documents; and its integration of the electronic document signing service HelloSign in 2019.</p>\n<p>It noted the more efficient usage of its infrastructure hardware lifted its gross margins over the past year. Meanwhile, a shift to remote work and&nbsp;a delayed brand campaign during the pandemic reduced its R&amp;D and marketing costs, respectively, and boosted its operating margins.</p>\n<p><b>The main weaknesses</b></p>\n<p>Dropbox's core business looks stable, but there are three glaring problems. First, it expects its revenue to rise just 11% year over year in the first quarter of 2021, and a mere 9%-11% for the full year.</p>\n<p><img src=\"https://static.tigerbbs.com/b9ab2901d555fcdbb4b387c551f2d64c\" tg-width=\"700\" tg-height=\"393\" referrerpolicy=\"no-referrer\"></p>\n<p>In other words, Dropbox's slowdown will continue as the cloud storage market matures and the top platforms lose their pricing power. Google, Microsoft, and Amazon can afford to operate their cloud storage platforms at losses to tether more users to their other cloud services, but Dropbox and Box can't.</p>\n<p>Second, Dropbox has remained unprofitable by GAAP measures ever since its IPO in 2018. It posted a net loss of $256.3 million in fiscal 2020, compared to a loss of $57.2 million in 2019, mainly due to non-recurring real estate impairment charges in the fourth quarter.</p>\n<p>Dropbox should post a narrower loss in 2021, but its high stock-based compensation expenses -- which gobbled up 14% of its revenue in 2020 -- should prevent it from turning profitable anytime soon.</p>\n<p>Lastly, Dropbox is constantly buying back its own shares, which is an odd strategy for an unprofitable tech company that should be focused on growth. It authorized a $600 million buyback program in early 2020, repurchased nearly $400 million in shares throughout the year, and plans to exhaust the program in the first quarter of 2021. It plans to follow up that program with another $1 billion buyback plan.</p>\n<p>However, Dropbox's number of outstanding shares actually<i> increased</i> nearly 1% in 2020. In short, it's merely repurchasing its own shares to offset the dilution from its own stock bonuses.</p>\n<p><b>Is Dropbox worth buying?</b></p>\n<p>Dropbox's stock looks cheap at 16 times forward earnings and less than five times this year's sales. But it's cheap because investors expect its growth to decelerate, and for its GAAP earnings to remain in the red. Dropbox's valuations should limit its downside potential, and it might still be an appealing takeover target -- but it's just not a compelling investment when other tech stocks offer much stronger growth.</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>Is Dropbox Stock a Buy?</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\">\nIs Dropbox Stock a Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-25 15:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/02/24/is-dropbox-stock-a-buy/><strong>Leo Sun</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Dropbox's (NASDAQ:DBX) stock price recently dipped after the cloud storage service provider posted its fourth-quarter earnings. Its revenue rose 13% year over year to $504.1 million, beating estimates...</p>\n\n<a href=\"https://www.fool.com/investing/2021/02/24/is-dropbox-stock-a-buy/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/02/24/is-dropbox-stock-a-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2113367475","content_text":"Dropbox's (NASDAQ:DBX) stock price recently dipped after the cloud storage service provider posted its fourth-quarter earnings. Its revenue rose 13% year over year to $504.1 million, beating estimates by $5.4 million.\nIts adjusted net income jumped 75% to $117.9 million, or $0.28 per share, which also cleared expectations by four cents. Those growth rates look solid, so why weren't investors more impressed?\nLet's dig deeper into Dropbox's strengths and weaknesses to see if it's still worth buying.\nHow does Dropbox make money?\nDropbox operates a freemium model, which grants paid users more storage and additional features. It offers 2GB of storage for free users, and individuals who pay $9.99 per month get 2TB of storage. A new family plan splits 2TB between six users for $16.99 a month, while its enterprise plans start at $12.50.\n\nBox (NYSE:BOX), its smaller competitor, provides 10GB of free storage, but users who pay $10 a month only get 100GB of storage. However, Box's enterprise plans start at just $5 a month.\nDropbox and Box both face intense competition from tech giants likeMicrosoft (NASDAQ:MSFT),Alphabet's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, andAmazon(NASDAQ:AMZN), which can all afford to offer similar services at lower prices.\nThe key growth rates\nDropbox believes it can continue to attract new individuals and businesses that don't want to be tethered to those big tech giants. After all, it still ranks second in the cloud storage market after Google Drive, according to Datanyze, followed by Microsoft, privately heldEgynte, and Box.\nHowever, Dropbox's revenue only rose 15% in fiscal 2020, compared to its 19% growth in 2019 and 26% growth in 2018. Its growth in paid users also decelerated over the past year.\n\nOn the bright side, Dropbox's ARPPU (average revenue per paying user) continued climbing, and its gross and operating margins expanded.\n\nDropbox attributed its stable ARPPU growth to the growing adoption of its family plan, which was launched in late 2020; new features like Vault, which adds an additional layer of security for sensitive documents; and its integration of the electronic document signing service HelloSign in 2019.\nIt noted the more efficient usage of its infrastructure hardware lifted its gross margins over the past year. Meanwhile, a shift to remote work and a delayed brand campaign during the pandemic reduced its R&D and marketing costs, respectively, and boosted its operating margins.\nThe main weaknesses\nDropbox's core business looks stable, but there are three glaring problems. First, it expects its revenue to rise just 11% year over year in the first quarter of 2021, and a mere 9%-11% for the full year.\n\nIn other words, Dropbox's slowdown will continue as the cloud storage market matures and the top platforms lose their pricing power. Google, Microsoft, and Amazon can afford to operate their cloud storage platforms at losses to tether more users to their other cloud services, but Dropbox and Box can't.\nSecond, Dropbox has remained unprofitable by GAAP measures ever since its IPO in 2018. It posted a net loss of $256.3 million in fiscal 2020, compared to a loss of $57.2 million in 2019, mainly due to non-recurring real estate impairment charges in the fourth quarter.\nDropbox should post a narrower loss in 2021, but its high stock-based compensation expenses -- which gobbled up 14% of its revenue in 2020 -- should prevent it from turning profitable anytime soon.\nLastly, Dropbox is constantly buying back its own shares, which is an odd strategy for an unprofitable tech company that should be focused on growth. It authorized a $600 million buyback program in early 2020, repurchased nearly $400 million in shares throughout the year, and plans to exhaust the program in the first quarter of 2021. It plans to follow up that program with another $1 billion buyback plan.\nHowever, Dropbox's number of outstanding shares actually increased nearly 1% in 2020. In short, it's merely repurchasing its own shares to offset the dilution from its own stock bonuses.\nIs Dropbox worth buying?\nDropbox's stock looks cheap at 16 times forward earnings and less than five times this year's sales. But it's cheap because investors expect its growth to decelerate, and for its GAAP earnings to remain in the red. Dropbox's valuations should limit its downside potential, and it might still be an appealing takeover target -- but it's just not a compelling investment when other tech stocks offer much stronger growth.","news_type":1},"isVote":1,"tweetType":1,"viewCount":44,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361555026,"gmtCreate":1614248929365,"gmtModify":1634550489334,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"Long ABNB","listText":"Long ABNB","text":"Long ABNB","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/361555026","repostId":"1188103004","repostType":4,"repost":{"id":"1188103004","pubTimestamp":1614244738,"share":"https://www.laohu8.com/m/news/1188103004?lang=&edition=full","pubTime":"2021-02-25 17:18","market":"us","language":"en","title":"Why Airbnb Stock Popped Again Before Earnings","url":"https://stock-news.laohu8.com/highlight/detail?id=1188103004","media":"Motley Fool","summary":"Losses could be ugly, but the future still looks bright.\nWhat happened\nAirbnb (NASDAQ:ABNB) stock ju","content":"<p>Losses could be ugly, but the future still looks bright.</p>\n<p><b>What happened</b></p>\n<p><b>Airbnb</b>&nbsp;(NASDAQ:ABNB)&nbsp;stock jumped 11% in early trading Wednesday before retreating a bit as the day wore on. By the time the closing bell rang, Airbnb stock ended up 6.7%.</p>\n<p><b>So what</b></p>\n<p>Just 24 hours remain before Airbnb reports its fiscal Q4 earnings -- tomorrow after close of trading. And while investors seem eager to see the results, they might not want to get their hopes<i>too</i>high up. According to analysts who follow the stock, Airbnb is probably going to report a loss of epic proportions -- as much as $9.16 per share, on sales of just under $748 million.</p>\n<p>Not everyone is in agreement on that.On Monday if you recall, analysts at Loop Capital predicted Airbnb will do better than those low expectations and upgraded the stock to a buy.</p>\n<p><b>Now what</b></p>\n<p>Even if Airbnb fails to \"beat earnings,\" though, there's still the potential for&nbsp;the stock to fly higher. Why?</p>\n<p>Well, consider: New reports of coronavirus infections are way down -- barely 71,000 reported yesterday, and only 56,000 the day before that. While those numbers both sound pretty big, they're mere fractions of the nearly 300,000 cases reported at the peak of the pandemic, Jan. 2.</p>\n<p>The Biden administration, meanwhile, is taking affirmative steps to drive those numbers even lower. On Wednesday, it was reported that the federal government is shipping out 25 million masks to workers in \"community health centers ... food pantries and soup kitchens,\" to help tamp down infections among the people most in need. And with vaccinations at the rate of 1.5 million a day -- accelerating toward 3 million per day by next month -- hopes are emerging that&nbsp;the pandemic and the recessionit caused could soon be put to bed, giving rise to an earlier-than-expected economic recovery.</p>\n<p>The sooner that happens, the faster folks will resume traveling, taking vacations -- and booking rooms with Airbnb again. No matter how big Airbnb's losses when it reports earnings tomorrow, that's good news for Airbnb stock.</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>Why Airbnb Stock Popped Again Before Earnings</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\">\nWhy Airbnb Stock Popped Again Before Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-25 17:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/02/24/why-airbnb-stock-popped-again-before-earnings/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Losses could be ugly, but the future still looks bright.\nWhat happened\nAirbnb (NASDAQ:ABNB) stock jumped 11% in early trading Wednesday before retreating a bit as the day wore on. By the time the ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/02/24/why-airbnb-stock-popped-again-before-earnings/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ABNB":"爱彼迎"},"source_url":"https://www.fool.com/investing/2021/02/24/why-airbnb-stock-popped-again-before-earnings/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188103004","content_text":"Losses could be ugly, but the future still looks bright.\nWhat happened\nAirbnb (NASDAQ:ABNB) stock jumped 11% in early trading Wednesday before retreating a bit as the day wore on. By the time the closing bell rang, Airbnb stock ended up 6.7%.\nSo what\nJust 24 hours remain before Airbnb reports its fiscal Q4 earnings -- tomorrow after close of trading. And while investors seem eager to see the results, they might not want to get their hopestoohigh up. According to analysts who follow the stock, Airbnb is probably going to report a loss of epic proportions -- as much as $9.16 per share, on sales of just under $748 million.\nNot everyone is in agreement on that.On Monday if you recall, analysts at Loop Capital predicted Airbnb will do better than those low expectations and upgraded the stock to a buy.\nNow what\nEven if Airbnb fails to \"beat earnings,\" though, there's still the potential for the stock to fly higher. Why?\nWell, consider: New reports of coronavirus infections are way down -- barely 71,000 reported yesterday, and only 56,000 the day before that. While those numbers both sound pretty big, they're mere fractions of the nearly 300,000 cases reported at the peak of the pandemic, Jan. 2.\nThe Biden administration, meanwhile, is taking affirmative steps to drive those numbers even lower. On Wednesday, it was reported that the federal government is shipping out 25 million masks to workers in \"community health centers ... food pantries and soup kitchens,\" to help tamp down infections among the people most in need. And with vaccinations at the rate of 1.5 million a day -- accelerating toward 3 million per day by next month -- hopes are emerging that the pandemic and the recessionit caused could soon be put to bed, giving rise to an earlier-than-expected economic recovery.\nThe sooner that happens, the faster folks will resume traveling, taking vacations -- and booking rooms with Airbnb again. No matter how big Airbnb's losses when it reports earnings tomorrow, that's good news for Airbnb stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":225,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":384830695,"gmtCreate":1613636375117,"gmtModify":1634552852739,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"Beautiful recovery","listText":"Beautiful recovery","text":"Beautiful recovery","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/384830695","repostId":"2112485151","repostType":4,"isVote":1,"tweetType":1,"viewCount":143,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382843830,"gmtCreate":1613434880920,"gmtModify":1634553711820,"author":{"id":"3561728795184169","authorId":"3561728795184169","name":"8818cdf","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561728795184169","authorIdStr":"3561728795184169"},"themes":[],"htmlText":"Catching up with the times","listText":"Catching up with the times","text":"Catching up with the times","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/382843830","repostId":"2110549049","repostType":4,"repost":{"id":"2110549049","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1613010240,"share":"https://www.laohu8.com/m/news/2110549049?lang=&edition=full","pubTime":"2021-02-11 10:24","market":"us","language":"en","title":"Mastercard to let merchants accept some cryptocurrencies directly later this year","url":"https://stock-news.laohu8.com/highlight/detail?id=2110549049","media":"Dow Jones","summary":"Company will open its network to crypto assets that meet its requirements around safety, compliance ","content":"<p>Company will open its network to crypto assets that meet its requirements around safety, compliance and stability</p>\n<p>Mastercard Inc. said Wednesday that it would begin allowing merchants to accept some cryptocurrencies on its network later this year, marking the latest embrace of digital coins by a traditional payments player.</p>\n<p>\"We are here to enable customers, merchants and businesses to move digital value -- traditional or crypto -- however they want,\" Mastercard's executive vice president for digital assets Raj Dhamodharan said in a blog post .</p>\n<p>Mastercard <a href=\"https://laohu8.com/S/MA\">$(MA)$</a> already works with some crypto platforms that issue Mastercard cards allowing people to spend their crypto assets, but through those arrangements the cryptocurrencies don't flow through Mastercard's network, as the crypto partners convert the digital currencies to traditional currencies and then transmit them to Mastercard. By moving to support some crypto assets directly, Mastercard will \"cut out inefficiencies, letting both consumers and merchants avoid having to convert back and forth between crypto and traditional to make purchases,\" Dhamodharan said.</p>\n<p>Mastercard plans to be selective about which cryptocurrencies it allows as it embarks on its plan. The company will be looking for cryptocurrencies that respect the privacy of consumer information, follow compliance procedures and \"offer the stability people need in a vehicle for spending, not investment.\"</p>\n<p>Traditional financial technology companies are increasingly experimenting with new digital assets. Mastercard, for <a href=\"https://laohu8.com/S/AONE\">one</a>, had already disclosed that it's held discussions with central banks about the possibility of \"central bank digital currencies,\" which would serve as alternative ways to pay beyond fiat currency.</p>\n<p>Mastercard Chief Executive Michael Miebach said on the company's latest earnings call that Mastercard's emphasis on consumer protection and transparency, as well as its acceptance network, could prove useful to central banks as they think about this future of money.</p>\n<p><a href=\"https://laohu8.com/S/V\">Visa</a> Inc. CEO Al Kelly said on Visa's (V) most recent earnings call that the company also has arrangements with platforms and digital wallets that issue Visa cards so that customers can spend their crypto holdings. \"These wallet relationships represent the potential for more than 50 million Visa credentials,\" he said.</p>\n<p>Kelly also spoke broadly about the prospects for cryptocurrency on Visa's platform. \"It goes without saying, to the extent a specific digital currency becomes a recognized means of exchange, there's no reason why we cannot add it to our network, which already supports over 160 currencies today,\" he said.</p>\n<p><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. (PYPL)began letting U.S. users buy and sell cryptocurrencies like bitcoin through its platform late last year .</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>Mastercard to let merchants accept some cryptocurrencies directly later this year</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\">\nMastercard to let merchants accept some cryptocurrencies directly later this year\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-02-11 10:24</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Company will open its network to crypto assets that meet its requirements around safety, compliance and stability</p>\n<p>Mastercard Inc. said Wednesday that it would begin allowing merchants to accept some cryptocurrencies on its network later this year, marking the latest embrace of digital coins by a traditional payments player.</p>\n<p>\"We are here to enable customers, merchants and businesses to move digital value -- traditional or crypto -- however they want,\" Mastercard's executive vice president for digital assets Raj Dhamodharan said in a blog post .</p>\n<p>Mastercard <a href=\"https://laohu8.com/S/MA\">$(MA)$</a> already works with some crypto platforms that issue Mastercard cards allowing people to spend their crypto assets, but through those arrangements the cryptocurrencies don't flow through Mastercard's network, as the crypto partners convert the digital currencies to traditional currencies and then transmit them to Mastercard. By moving to support some crypto assets directly, Mastercard will \"cut out inefficiencies, letting both consumers and merchants avoid having to convert back and forth between crypto and traditional to make purchases,\" Dhamodharan said.</p>\n<p>Mastercard plans to be selective about which cryptocurrencies it allows as it embarks on its plan. The company will be looking for cryptocurrencies that respect the privacy of consumer information, follow compliance procedures and \"offer the stability people need in a vehicle for spending, not investment.\"</p>\n<p>Traditional financial technology companies are increasingly experimenting with new digital assets. Mastercard, for <a href=\"https://laohu8.com/S/AONE\">one</a>, had already disclosed that it's held discussions with central banks about the possibility of \"central bank digital currencies,\" which would serve as alternative ways to pay beyond fiat currency.</p>\n<p>Mastercard Chief Executive Michael Miebach said on the company's latest earnings call that Mastercard's emphasis on consumer protection and transparency, as well as its acceptance network, could prove useful to central banks as they think about this future of money.</p>\n<p><a href=\"https://laohu8.com/S/V\">Visa</a> Inc. CEO Al Kelly said on Visa's (V) most recent earnings call that the company also has arrangements with platforms and digital wallets that issue Visa cards so that customers can spend their crypto holdings. \"These wallet relationships represent the potential for more than 50 million Visa credentials,\" he said.</p>\n<p>Kelly also spoke broadly about the prospects for cryptocurrency on Visa's platform. \"It goes without saying, to the extent a specific digital currency becomes a recognized means of exchange, there's no reason why we cannot add it to our network, which already supports over 160 currencies today,\" he said.</p>\n<p><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings Inc. (PYPL)began letting U.S. users buy and sell cryptocurrencies like bitcoin through its platform late last year .</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MA":"万事达"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2110549049","content_text":"Company will open its network to crypto assets that meet its requirements around safety, compliance and stability\nMastercard Inc. said Wednesday that it would begin allowing merchants to accept some cryptocurrencies on its network later this year, marking the latest embrace of digital coins by a traditional payments player.\n\"We are here to enable customers, merchants and businesses to move digital value -- traditional or crypto -- however they want,\" Mastercard's executive vice president for digital assets Raj Dhamodharan said in a blog post .\nMastercard $(MA)$ already works with some crypto platforms that issue Mastercard cards allowing people to spend their crypto assets, but through those arrangements the cryptocurrencies don't flow through Mastercard's network, as the crypto partners convert the digital currencies to traditional currencies and then transmit them to Mastercard. By moving to support some crypto assets directly, Mastercard will \"cut out inefficiencies, letting both consumers and merchants avoid having to convert back and forth between crypto and traditional to make purchases,\" Dhamodharan said.\nMastercard plans to be selective about which cryptocurrencies it allows as it embarks on its plan. The company will be looking for cryptocurrencies that respect the privacy of consumer information, follow compliance procedures and \"offer the stability people need in a vehicle for spending, not investment.\"\nTraditional financial technology companies are increasingly experimenting with new digital assets. Mastercard, for one, had already disclosed that it's held discussions with central banks about the possibility of \"central bank digital currencies,\" which would serve as alternative ways to pay beyond fiat currency.\nMastercard Chief Executive Michael Miebach said on the company's latest earnings call that Mastercard's emphasis on consumer protection and transparency, as well as its acceptance network, could prove useful to central banks as they think about this future of money.\nVisa Inc. CEO Al Kelly said on Visa's (V) most recent earnings call that the company also has arrangements with platforms and digital wallets that issue Visa cards so that customers can spend their crypto holdings. \"These wallet relationships represent the potential for more than 50 million Visa credentials,\" he said.\nKelly also spoke broadly about the prospects for cryptocurrency on Visa's platform. \"It goes without saying, to the extent a specific digital currency becomes a recognized means of exchange, there's no reason why we cannot add it to our network, which already supports over 160 currencies today,\" he said.\nPayPal Holdings Inc. (PYPL)began letting U.S. users buy and sell cryptocurrencies like bitcoin through its platform late last year .","news_type":1},"isVote":1,"tweetType":1,"viewCount":42,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}