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2021-06-29

Wow

抱歉，原内容已删除

2021-07-07

Wow

抱歉，原内容已删除

2021-07-03

Wow

Suze Orman worries about a market crash — here's what you should do

2021-06-28

[财迷] [财迷] [财迷]

June jobs report, Consumer confidence: What to know this week

2021-07-02

Wow..........

Apple, Intel become first to adopt TSMC's latest chip tech - Nikkei

2021-07-01

Wow

S&P 500 notches fifth straight record closing high, fifth straight quarterly gain

2021-09-22

Wow$Palantir Technologies Inc.(PLTR)$

2021-07-15

Wow

抱歉，原内容已删除

2021-07-01

Wow

3 Expensive Tech Stocks to Buy in the Next Market Crash

2021-07-01

Yes........

The S&P 500 Notches Its Second-Best First Half Since the Dot-Com Bubble. What Comes Next.

2021-06-28

🤣🤣🤣

Is Another Housing Bubble Building?

2021-07-11

Wow

抱歉，原内容已删除

2021-06-22

[财迷] [财迷] [财迷]

China stocks close higher as banking, energy firms climb

2021-08-17

🙃🙃🙃

抱歉，原内容已删除

2021-07-24

🙃🙃🙃

抱歉，原内容已删除

2021-07-16

Wow

缺“芯”的拐点要来了？

2021-07-16

Wow

缺“芯”的拐点要来了？

2021-07-10

Wow

抱歉，原内容已删除

2021-07-08

Wow

上半年IPO盘点：A股95%上涨，港股募资翻倍，美股超7成下跌

2021-07-02

Wow

S&P 500 winning streak extends to sixth straight record close

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17:23","market":"us","language":"zh","title":"恒瑞医药：上半年实现净利润26.68亿元 同比增长0.21%","url":"https://stock-news.laohu8.com/highlight/detail?id=2160763716","media":"新浪财经","summary":"投资研报\n【主力资金】总龙头霸气打出8+1板！重磅利好盘后来袭，这类个股值得关注（附受益股）\n牛市旗手爆发涨停潮：财富管理赛道三大投资机遇受益股曝光！3股上涨目标价明确（名单）\n揭秘：1个月暴涨60%！为什么东方证券能成为龙一？\n【机构调研】袁芳、杨瑨、归凯等大佬齐出手调研1股！这一类股投资机会值得重视（受益股）\n　　8月19日消息，恒瑞医药：上半年实现净利润26.68亿元，同比增长0.21%。\n \n\n股民福利！金牛、茅台、手机……任务“豪”礼，等你来拿>>\n\n\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：张熠","content":"<html><body><div>\n<blockquote>\n<p>投资研报</p>\n<p>【主力资金】总龙头霸气打出8+1板！重磅利好盘后来袭，这类个股值得关注（附受益股）</p>\n<p>牛市旗手爆发涨停潮：财富管理赛道三大投资机遇受益股曝光！3股上涨目标价明确（名单）</p>\n<p>揭秘：1个月暴涨60%！为什么<a href=\"https://laohu8.com/S/600958\">东方证券</a>能成为龙一？</p>\n<p>【机构调研】袁芳、杨瑨、归凯等大佬齐出手调研1股！这一类股投资机会值得重视（受益股）</p>\n</blockquote><p>　　8月19日消息，<span><a href=\"https://laohu8.com/S/600276\">恒瑞医药</a></span><span></span>：上半年实现净利润26.68亿元，同比增长0.21%。</p>\n<div> </div>\n<div>\n<span>股民福利！金牛、茅台、手机……任务“豪”礼，等你来拿&gt;&gt;</span>\n<img src=\"\"/>\n</div>\n<div>\n<div><img src=\"\"/></div>\n<div>海量资讯、精准解读，尽在<a href=\"https://laohu8.com/S/SINA\">新浪</a>财经APP</div>\n</div>\n<p>责任编辑：张熠 </p>\n</div></body></html>","source":"sina","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>恒瑞医药：上半年实现净利润26.68亿元 同比增长0.21%</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{ 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0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n恒瑞医药：上半年实现净利润26.68亿元 同比增长0.21%\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-19 17:23 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/stock/s/2021-08-19/doc-ikqcfncc3815076.shtml><strong>新浪财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>投资研报\n【主力资金】总龙头霸气打出8+1板！重磅利好盘后来袭，这类个股值得关注（附受益股）\n牛市旗手爆发涨停潮：财富管理赛道三大投资机遇受益股曝光！3股上涨目标价明确（名单）\n揭秘：1个月暴涨60%！为什么东方证券能成为龙一？\n【机构调研】袁芳、杨瑨、归凯等大佬齐出手调研1股！这一类股投资机会值得重视（受益股）\n　　8月19日消息，恒瑞医药：上半年实现净利润26.68亿元，同比增长0.21%。\n...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/s/2021-08-19/doc-ikqcfncc3815076.shtml\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5d8fb95e65f042f352c6313989391357","relate_stocks":{"600276":"恒瑞医药"},"source_url":"https://finance.sina.com.cn/stock/s/2021-08-19/doc-ikqcfncc3815076.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2160763716","content_text":"投资研报\n【主力资金】总龙头霸气打出8+1板！重磅利好盘后来袭，这类个股值得关注（附受益股）\n牛市旗手爆发涨停潮：财富管理赛道三大投资机遇受益股曝光！3股上涨目标价明确（名单）\n揭秘：1个月暴涨60%！为什么东方证券能成为龙一？\n【机构调研】袁芳、杨瑨、归凯等大佬齐出手调研1股！这一类股投资机会值得重视（受益股）\n　　8月19日消息，恒瑞医药：上半年实现净利润26.68亿元，同比增长0.21%。\n \n\n股民福利！金牛、茅台、手机……任务“豪”礼，等你来拿>>\n\n\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：张熠","news_type":1},"isVote":1,"tweetType":1,"viewCount":203,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831926848,"gmtCreate":1629281413884,"gmtModify":1631890211791,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"😁😁😁","listText":"😁😁😁","text":"😁😁😁","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/831926848","repostId":"2160787920","repostType":2,"repost":{"id":"2160787920","pubTimestamp":1629270616,"share":"https://www.laohu8.com/m/news/2160787920?lang=&edition=full","pubTime":"2021-08-18 15:10","market":"us","language":"zh","title":"港股异动 | 江南布衣(3306.HK)升超9% 股价有望挑战历史高位","url":"https://stock-news.laohu8.com/highlight/detail?id=2160787920","media":"格隆汇","summary":"格隆汇8月18日丨江南布衣(3306.HK)大涨超9%，报18.5港元，成交额为2045万港元，总市值96亿港元。江南布衣将于8月31日举行董事会会议审批业绩。此前发盈喜称，预计截至今年6月30日止年度净利润较上年度净利润增加超过80%。花旗研报指，江南布衣复苏步伐理想，公司对品牌及会员制度持续投入，预期6月底止全财年收入将按年升30%。因发布盈喜影响，此前股价4日累计大涨50%并创下历史新高价，市值一度冲上百亿港元，近期股价高位震荡徘徊有望伺机再冲高价。","content":"<html><body><p>格隆汇8月18日丨<a href=\"https://laohu8.com/S/03306\">江南布衣</a>(3306.HK)大涨超9%，报18.5港元，成交额为2045万港元，总市值96亿港元。</p><div><br/></div><div><br/></div><div>江南布衣将于8月31日举行董事会会议审批业绩。此前发盈喜称，预计截至今年6月30日止年度净利润较上年度净利润增加超过80%。<a href=\"https://laohu8.com/S/C\">花旗</a>研报指，江南布衣复苏步伐理想，公司对品牌及会员制度持续投入，预期6月底止全财年收入将按年升30%。</div><div><br/></div><div>因发布盈喜影响，此前股价4日累计大涨50%并创下历史新高价，市值一度冲上百亿港元，近期股价高位震荡徘徊有望伺机再冲高价。<p><img src=\"https://img3.gelonghui.com/ad0eb-77d70b28-fc44-471b-813f-28c9de154003.png\"/></p></div></body></html>","source":"stock_gelonghui","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>港股异动 | 江南布衣(3306.HK)升超9% 股价有望挑战历史高位</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{ 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{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\">\n港股异动 | 江南布衣(3306.HK)升超9% 股价有望挑战历史高位\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-18 15:10 北京时间&nbsp;&nbsp;&nbsp;<a href=https://www.gelonghui.com/news/detail.html?id=601533><strong>格隆汇</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>格隆汇8月18日丨江南布衣(3306.HK)大涨超9%，报18.5港元，成交额为2045万港元，总市值96亿港元。江南布衣将于8月31日举行董事会会议审批业绩。此前发盈喜称，预计截至今年6月30日止年度净利润较上年度净利润增加超过80%。花旗研报指，江南布衣复苏步伐理想，公司对品牌及会员制度持续投入，预期6月底止全财年收入将按年升30%。因发布盈喜影响，此前股价4日累计大涨50%并创下历史新高价，...</p>\n\n<a href=\"https://www.gelonghui.com/news/detail.html?id=601533\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/753c9aba3202037bc97463c545d5d015","relate_stocks":{"03306":"江南布衣"},"source_url":"https://www.gelonghui.com/news/detail.html?id=601533","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2160787920","content_text":"格隆汇8月18日丨江南布衣(3306.HK)大涨超9%，报18.5港元，成交额为2045万港元，总市值96亿港元。江南布衣将于8月31日举行董事会会议审批业绩。此前发盈喜称，预计截至今年6月30日止年度净利润较上年度净利润增加超过80%。花旗研报指，江南布衣复苏步伐理想，公司对品牌及会员制度持续投入，预期6月底止全财年收入将按年升30%。因发布盈喜影响，此前股价4日累计大涨50%并创下历史新高价，市值一度冲上百亿港元，近期股价高位震荡徘徊有望伺机再冲高价。","news_type":1},"isVote":1,"tweetType":1,"viewCount":283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833901749,"gmtCreate":1629193706981,"gmtModify":1631890211801,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"🙃🙃🙃","listText":"🙃🙃🙃","text":"🙃🙃🙃","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/833901749","repostId":"1110577100","repostType":4,"isVote":1,"tweetType":1,"viewCount":205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833072960,"gmtCreate":1629193163150,"gmtModify":1631890211816,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"🙃🙃🙃","listText":"🙃🙃🙃","text":"🙃🙃🙃","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/833072960","repostId":"2160018277","repostType":2,"repost":{"id":"2160018277","pubTimestamp":1629187491,"share":"https://www.laohu8.com/m/news/2160018277?lang=&edition=full","pubTime":"2021-08-17 16:04","market":"us","language":"zh","title":"大行评级丨招银国际：监管风险未除，腾讯(0700.HK)股价低位料约于402港元","url":"https://stock-news.laohu8.com/highlight/detail?id=2160018277","media":"格隆汇","summary":"格隆汇8月17日丨腾讯 将于明天公布中期业绩，招银国际发研报称，：估计第二季收入/盈利同比增18%/8%，较市场预期略低2%/1%，其中增值服务/广告/其他收入料同比升11%/21%/32%，相信游戏增长放缓和利润率下跌已被市场充份预期，目前忧虑集中于监管的不明朗，包括防止未成年人沉迷网络游戏、税率改变和反垄断。短期内监管风险令行业气氛疲弱，或将令股价受压。若以过往估值低位24倍预测市盈率推算，腾讯的股价低位料约于402港元。","content":"<html><body><p>格隆汇8月17日丨<a href=\"https://laohu8.com/S/00700\">腾讯</a>(0700.HK)将于明天公布中期业绩，招银国际发研报称，：估计第二季收入/盈利同比增18%/8%，较市场预期略低2%/1%，其中增值服务/广告/其他收入料同比升11%/21%/32%，相信游戏增长放缓和利润率下跌已被市场充份预期，目前忧虑集中于监管的不明朗，包括防止未成年人沉迷网络游戏、税率改变和反垄断。短期内监管风险令行业气氛疲弱，或将令股价受压。若以过往估值低位24倍预测市盈率推算，腾讯的股价低位料约于402港元。下调21-23年盈利预测8%-11%，以反映投资增加和税率可能上调，目标价下调至640港元，维持“买入”评级，仍看好其长线增长前景和盈利能见度。注：腾讯现跌超4%报435.4港元，市值4.17万亿港元。</p></body></html>","source":"stock_gelonghui","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>大行评级丨招银国际：监管风险未除，腾讯(0700.HK)股价低位料约于402港元</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; 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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\">\n大行评级丨招银国际：监管风险未除，腾讯(0700.HK)股价低位料约于402港元\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-17 16:04 北京时间&nbsp;&nbsp;&nbsp;<a href=https://www.gelonghui.com/news/detail.html?id=600827><strong>格隆汇</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>格隆汇8月17日丨腾讯(0700.HK)将于明天公布中期业绩，招银国际发研报称，：估计第二季收入/盈利同比增18%/8%，较市场预期略低2%/1%，其中增值服务/广告/其他收入料同比升11%/21%/32%，相信游戏增长放缓和利润率下跌已被市场充份预期，目前忧虑集中于监管的不明朗，包括防止未成年人沉迷网络游戏、税率改变和反垄断。短期内监管风险令行业气氛疲弱，或将令股价受压。若以过往估值低位24倍...</p>\n\n<a href=\"https://www.gelonghui.com/news/detail.html?id=600827\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ed7ef7d1b9da30ca68a0ddeac63f4a0e","relate_stocks":{"TCEHY":"腾讯控股ADR","00700":"腾讯控股"},"source_url":"https://www.gelonghui.com/news/detail.html?id=600827","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2160018277","content_text":"格隆汇8月17日丨腾讯(0700.HK)将于明天公布中期业绩，招银国际发研报称，：估计第二季收入/盈利同比增18%/8%，较市场预期略低2%/1%，其中增值服务/广告/其他收入料同比升11%/21%/32%，相信游戏增长放缓和利润率下跌已被市场充份预期，目前忧虑集中于监管的不明朗，包括防止未成年人沉迷网络游戏、税率改变和反垄断。短期内监管风险令行业气氛疲弱，或将令股价受压。若以过往估值低位24倍预测市盈率推算，腾讯的股价低位料约于402港元。下调21-23年盈利预测8%-11%，以反映投资增加和税率可能上调，目标价下调至640港元，维持“买入”评级，仍看好其长线增长前景和盈利能见度。注：腾讯现跌超4%报435.4港元，市值4.17万亿港元。","news_type":1},"isVote":1,"tweetType":1,"viewCount":278,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":833076645,"gmtCreate":1629193132787,"gmtModify":1631890211840,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"😁😁😁👍👍👍","listText":"😁😁😁👍👍👍","text":"😁😁😁👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/833076645","repostId":"2160527000","repostType":2,"repost":{"id":"2160527000","pubTimestamp":1629190252,"share":"https://www.laohu8.com/m/news/2160527000?lang=&edition=full","pubTime":"2021-08-17 16:50","market":"us","language":"zh","title":"江南布衣(03306.HK)8月31日举行董事会会议审批中期业绩","url":"https://stock-news.laohu8.com/highlight/detail?id=2160527000","media":"格隆汇","summary":"格隆汇8月17日丨江南布衣(03306.HK)宣布，公司将于2021年8月31日（星期二）举行董事会会议，藉以（其中包括）考虑及批准公司及其附属公司截至2021年6月30日止年度的全年业绩及其发布，并考虑派发末期股息和特别股息。","content":"<html><body><p>格隆汇8月17日丨<span><a href=\"https://laohu8.com/S/03306\">江南布衣</a>(03306.HK)宣布，公司将于2021年8月31日（星期二）举行董事会会议，藉以（其中包括）考虑及批准公司及其附属公司截至2021年6月30日止年度的全年业绩及其发布，并考虑派发末期股息和特别股息。</span></p></body></html>","source":"stock_gelonghui","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>江南布衣(03306.HK)8月31日举行董事会会议审批中期业绩</title>\n<style 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Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b8906c2117cf409a3cc5087f96741bce","relate_stocks":{"03306":"江南布衣"},"source_url":"https://www.gelonghui.com/news/detail.html?id=600927","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2160527000","content_text":"格隆汇8月17日丨江南布衣(03306.HK)宣布，公司将于2021年8月31日（星期二）举行董事会会议，藉以（其中包括）考虑及批准公司及其附属公司截至2021年6月30日止年度的全年业绩及其发布，并考虑派发末期股息和特别股息。","news_type":1},"isVote":1,"tweetType":1,"viewCount":240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892208557,"gmtCreate":1628660587479,"gmtModify":1631890211853,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/892208557","repostId":"896638890","repostType":1,"repost":{"id":896638890,"gmtCreate":1628575784410,"gmtModify":1628582034591,"author":{"id":"3516096698306373","authorId":"3516096698306373","name":"石头","avatar":"https://static.tigerbbs.com/8477922e6df4928f290cca5cd50ce873","crmLevel":9,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3516096698306373","authorIdStr":"3516096698306373"},"themes":[],"title":"2021Q2财报 | 英特尔老了吗，股价还能翻盘吗？","htmlText":"起初我并没准备写<a target=\"_blank\" href=\"https://laohu8.com/S/INTC\">$英特尔(INTC)$</a>&nbsp;公司的财报解读，原因有2点；1是这是一家巨头公司，分析起来非常耗时耗精力，2是因为这种公司有不少机构或者专业投资人会进行分析并发布财报解读的，他们发布的资讯足够详细，足够说明问题。但自从英特尔在7月23日发布财报后，我发现了个问题——绝大多数的分析都在唱空英特尔，不少报告都用英特尔对比<a target=\"_blank\" href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>&nbsp;、<a target=\"_blank\" href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$</a>&nbsp;、甚至<a target=\"_blank\" href=\"https://laohu8.com/S/TSM\">$台积电(TSM)$</a>&nbsp;，而且得出结论，是因为英特尔老了，没什么潜力，因此股价出现了下跌。那么真的是这样吗？还是有什么其他问题引起的因特尔股价下跌呢？在开始之前，我们简单的梳理下英特尔、英伟达、AMD和台积电这几家公司的关系。评估英特尔到底是跟其自身比较，还是要找对标公司呢？简单来说，在之前如果装一台电脑的话，CPU是英特尔，显卡是英伟达，要是预算不够多，咱们就AMD和ATI，代工就是台积电，后面随着时间演变，AMD和ATI合并成为了AMD，但是在显卡和CPU的争端上AMD也越来越中流化，这三家公司曾经三分天下，大家互为竞争，又各守一方，具体的三方大战，错综复杂，谁都想把对方弄死，但是又弄不死，三方僵持很长时间都未能一决生死。台积电呢，就在后面代工，就好像如今的某个国家，你们打你们的，你们谁要武器，我就卖给谁，故事的精彩程度不比","listText":"起初我并没准备写<a target=\"_blank\" href=\"https://laohu8.com/S/INTC\">$英特尔(INTC)$</a>&nbsp;公司的财报解读，原因有2点；1是这是一家巨头公司，分析起来非常耗时耗精力，2是因为这种公司有不少机构或者专业投资人会进行分析并发布财报解读的，他们发布的资讯足够详细，足够说明问题。但自从英特尔在7月23日发布财报后，我发现了个问题——绝大多数的分析都在唱空英特尔，不少报告都用英特尔对比<a target=\"_blank\" href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>&nbsp;、<a target=\"_blank\" href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$</a>&nbsp;、甚至<a target=\"_blank\" href=\"https://laohu8.com/S/TSM\">$台积电(TSM)$</a>&nbsp;，而且得出结论，是因为英特尔老了，没什么潜力，因此股价出现了下跌。那么真的是这样吗？还是有什么其他问题引起的因特尔股价下跌呢？在开始之前，我们简单的梳理下英特尔、英伟达、AMD和台积电这几家公司的关系。评估英特尔到底是跟其自身比较，还是要找对标公司呢？简单来说，在之前如果装一台电脑的话，CPU是英特尔，显卡是英伟达，要是预算不够多，咱们就AMD和ATI，代工就是台积电，后面随着时间演变，AMD和ATI合并成为了AMD，但是在显卡和CPU的争端上AMD也越来越中流化，这三家公司曾经三分天下，大家互为竞争，又各守一方，具体的三方大战，错综复杂，谁都想把对方弄死，但是又弄不死，三方僵持很长时间都未能一决生死。台积电呢，就在后面代工，就好像如今的某个国家，你们打你们的，你们谁要武器，我就卖给谁，故事的精彩程度不比","text":"起初我并没准备写$英特尔(INTC)$ 公司的财报解读，原因有2点；1是这是一家巨头公司，分析起来非常耗时耗精力，2是因为这种公司有不少机构或者专业投资人会进行分析并发布财报解读的，他们发布的资讯足够详细，足够说明问题。但自从英特尔在7月23日发布财报后，我发现了个问题——绝大多数的分析都在唱空英特尔，不少报告都用英特尔对比$AMD(AMD)$ 、$英伟达(NVDA)$ 、甚至$台积电(TSM)$ ，而且得出结论，是因为英特尔老了，没什么潜力，因此股价出现了下跌。那么真的是这样吗？还是有什么其他问题引起的因特尔股价下跌呢？在开始之前，我们简单的梳理下英特尔、英伟达、AMD和台积电这几家公司的关系。评估英特尔到底是跟其自身比较，还是要找对标公司呢？简单来说，在之前如果装一台电脑的话，CPU是英特尔，显卡是英伟达，要是预算不够多，咱们就AMD和ATI，代工就是台积电，后面随着时间演变，AMD和ATI合并成为了AMD，但是在显卡和CPU的争端上AMD也越来越中流化，这三家公司曾经三分天下，大家互为竞争，又各守一方，具体的三方大战，错综复杂，谁都想把对方弄死，但是又弄不死，三方僵持很长时间都未能一决生死。台积电呢，就在后面代工，就好像如今的某个国家，你们打你们的，你们谁要武器，我就卖给谁，故事的精彩程度不比","images":[{"img":"https://static.tigerbbs.com/61f1d3f438289a624865b5502a50db9b","width":"688","height":"504"},{"img":"https://static.tigerbbs.com/21ee1f3bdb55818a218df7d0520f73e0","width":"636","height":"354"},{"img":"https://static.tigerbbs.com/c4d07a0f34c0185bb8bd3b57414e27d3","width":"688","height":"255"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/896638890","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":20,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":243,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898771353,"gmtCreate":1628525119372,"gmtModify":1631890211866,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"这篇文章不错，转发给大家看","listText":"这篇文章不错，转发给大家看","text":"这篇文章不错，转发给大家看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/898771353","repostId":"805151775","repostType":1,"repost":{"id":805151775,"gmtCreate":1627866792297,"gmtModify":1627959624728,"author":{"id":"3521199454361115","authorId":"3521199454361115","name":"美股指南针","avatar":"https://static.tigerbbs.com/ccd1af51d377a6091f715591c5b1088d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3521199454361115","authorIdStr":"3521199454361115"},"themes":[],"title":"不到一年将本金翻8倍，我是如何做到的","htmlText":"大学开始到毕业期间1年有余在模拟盘操作到后面用自己攒的小金库实盘操作，在18年bilibili上市10块all in bilibili 赚到第一桶金至今我陆陆续续炒股已有4年。疫情股市崩盘促使我回到股市抄底，当时的目标很明确，捡石油，捡航空！当时沙特打价格战，石油暴跌濒临破产夕阳行业，但是石油毕竟还是有需求的，当时没有可以全面替代石油的。奔着这个逻辑我接了濒临破产的石油行业的飞刀，逢低加仓坚持拿了几个月nbr反向拆股50合1， 我在45的价位清仓了。航空行业的佼佼者达美有雄厚的资金储备加上他们的扩展业务（我是他们的忠实顾客），我当时认为疫情过后人们出门旅游的需求会有一个爆发的阶段。加上在没有任何收入来源的情况下，航空的飞机和其扩展的业务还能值点钱。于是在黄金坑20块附近开始建仓，加仓达美航空，共买了1w美金。随后在33块清仓。在石油和航空之后我开始寻找下一个目标，当时国家在宣传环保。我发现了新能源赛道的nio，符合国家的规划，去调查了一番nio的情况，对比它和当初的ofo小黄车的迅速发展到消失的区别，最终促使我买入的理由是创始人，政策的方向，加上和zf的对赌协议。（图片太多了，我就随便挑了几个）我从11块开始买入nio的正股，随后发现了nio的上升趋势的走势规律，我开始每次突破新高后清仓，回落时逢低建仓期权和正股 当时几乎每次操作都是满仓。nio涨到57的时候我已经赚了20多w美金。11月回调的时候我在黄金坑40附近再次握着nio的期权看好1月份的nio day大日子，这是因为近一年来nio被资本看好，赛道明朗 销量明显增长。我买到了1月底的看涨期权，在64附近开盘清仓。收益扩大至30w美金。最后一次操作nio因为这时的nio走势很像茶杯柄，于是我在54附近开始建仓nio的看涨70的期权，但是当时没有注意大环境的趋势赶上了科技股泡沫破灭 nio并没有突破茶杯柄的走势，跌破支","listText":"大学开始到毕业期间1年有余在模拟盘操作到后面用自己攒的小金库实盘操作，在18年bilibili上市10块all in bilibili 赚到第一桶金至今我陆陆续续炒股已有4年。疫情股市崩盘促使我回到股市抄底，当时的目标很明确，捡石油，捡航空！当时沙特打价格战，石油暴跌濒临破产夕阳行业，但是石油毕竟还是有需求的，当时没有可以全面替代石油的。奔着这个逻辑我接了濒临破产的石油行业的飞刀，逢低加仓坚持拿了几个月nbr反向拆股50合1， 我在45的价位清仓了。航空行业的佼佼者达美有雄厚的资金储备加上他们的扩展业务（我是他们的忠实顾客），我当时认为疫情过后人们出门旅游的需求会有一个爆发的阶段。加上在没有任何收入来源的情况下，航空的飞机和其扩展的业务还能值点钱。于是在黄金坑20块附近开始建仓，加仓达美航空，共买了1w美金。随后在33块清仓。在石油和航空之后我开始寻找下一个目标，当时国家在宣传环保。我发现了新能源赛道的nio，符合国家的规划，去调查了一番nio的情况，对比它和当初的ofo小黄车的迅速发展到消失的区别，最终促使我买入的理由是创始人，政策的方向，加上和zf的对赌协议。（图片太多了，我就随便挑了几个）我从11块开始买入nio的正股，随后发现了nio的上升趋势的走势规律，我开始每次突破新高后清仓，回落时逢低建仓期权和正股 当时几乎每次操作都是满仓。nio涨到57的时候我已经赚了20多w美金。11月回调的时候我在黄金坑40附近再次握着nio的期权看好1月份的nio day大日子，这是因为近一年来nio被资本看好，赛道明朗 销量明显增长。我买到了1月底的看涨期权，在64附近开盘清仓。收益扩大至30w美金。最后一次操作nio因为这时的nio走势很像茶杯柄，于是我在54附近开始建仓nio的看涨70的期权，但是当时没有注意大环境的趋势赶上了科技股泡沫破灭 nio并没有突破茶杯柄的走势，跌破支","text":"大学开始到毕业期间1年有余在模拟盘操作到后面用自己攒的小金库实盘操作，在18年bilibili上市10块all in bilibili 赚到第一桶金至今我陆陆续续炒股已有4年。疫情股市崩盘促使我回到股市抄底，当时的目标很明确，捡石油，捡航空！当时沙特打价格战，石油暴跌濒临破产夕阳行业，但是石油毕竟还是有需求的，当时没有可以全面替代石油的。奔着这个逻辑我接了濒临破产的石油行业的飞刀，逢低加仓坚持拿了几个月nbr反向拆股50合1， 我在45的价位清仓了。航空行业的佼佼者达美有雄厚的资金储备加上他们的扩展业务（我是他们的忠实顾客），我当时认为疫情过后人们出门旅游的需求会有一个爆发的阶段。加上在没有任何收入来源的情况下，航空的飞机和其扩展的业务还能值点钱。于是在黄金坑20块附近开始建仓，加仓达美航空，共买了1w美金。随后在33块清仓。在石油和航空之后我开始寻找下一个目标，当时国家在宣传环保。我发现了新能源赛道的nio，符合国家的规划，去调查了一番nio的情况，对比它和当初的ofo小黄车的迅速发展到消失的区别，最终促使我买入的理由是创始人，政策的方向，加上和zf的对赌协议。（图片太多了，我就随便挑了几个）我从11块开始买入nio的正股，随后发现了nio的上升趋势的走势规律，我开始每次突破新高后清仓，回落时逢低建仓期权和正股 当时几乎每次操作都是满仓。nio涨到57的时候我已经赚了20多w美金。11月回调的时候我在黄金坑40附近再次握着nio的期权看好1月份的nio day大日子，这是因为近一年来nio被资本看好，赛道明朗 销量明显增长。我买到了1月底的看涨期权，在64附近开盘清仓。收益扩大至30w美金。最后一次操作nio因为这时的nio走势很像茶杯柄，于是我在54附近开始建仓nio的看涨70的期权，但是当时没有注意大环境的趋势赶上了科技股泡沫破灭 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我在45的价位清仓了。航空行业的佼佼者达美有雄厚的资金储备加上他们的扩展业务（我是他们的忠实顾客），我当时认为疫情过后人们出门旅游的需求会有一个爆发的阶段。加上在没有任何收入来源的情况下，航空的飞机和其扩展的业务还能值点钱。于是在黄金坑20块附近开始建仓，加仓达美航空，共买了1w美金。随后在33块清仓。在石油和航空之后我开始寻找下一个目标，当时国家在宣传环保。我发现了新能源赛道的nio，符合国家的规划，去调查了一番nio的情况，对比它和当初的ofo小黄车的迅速发展到消失的区别，最终促使我买入的理由是创始人，政策的方向，加上和zf的对赌协议。（图片太多了，我就随便挑了几个）我从11块开始买入nio的正股，随后发现了nio的上升趋势的走势规律，我开始每次突破新高后清仓，回落时逢低建仓期权和正股 当时几乎每次操作都是满仓。nio涨到57的时候我已经赚了20多w美金。11月回调的时候我在黄金坑40附近再次握着nio的期权看好1月份的nio day大日子，这是因为近一年来nio被资本看好，赛道明朗 销量明显增长。我买到了1月底的看涨期权，在64附近开盘清仓。收益扩大至30w美金。最后一次操作nio因为这时的nio走势很像茶杯柄，于是我在54附近开始建仓nio的看涨70的期权，但是当时没有注意大环境的趋势赶上了科技股泡沫破灭 nio并没有突破茶杯柄的走势，跌破支","text":"大学开始到毕业期间1年有余在模拟盘操作到后面用自己攒的小金库实盘操作，在18年bilibili上市10块all in bilibili 赚到第一桶金至今我陆陆续续炒股已有4年。疫情股市崩盘促使我回到股市抄底，当时的目标很明确，捡石油，捡航空！当时沙特打价格战，石油暴跌濒临破产夕阳行业，但是石油毕竟还是有需求的，当时没有可以全面替代石油的。奔着这个逻辑我接了濒临破产的石油行业的飞刀，逢低加仓坚持拿了几个月nbr反向拆股50合1， 我在45的价位清仓了。航空行业的佼佼者达美有雄厚的资金储备加上他们的扩展业务（我是他们的忠实顾客），我当时认为疫情过后人们出门旅游的需求会有一个爆发的阶段。加上在没有任何收入来源的情况下，航空的飞机和其扩展的业务还能值点钱。于是在黄金坑20块附近开始建仓，加仓达美航空，共买了1w美金。随后在33块清仓。在石油和航空之后我开始寻找下一个目标，当时国家在宣传环保。我发现了新能源赛道的nio，符合国家的规划，去调查了一番nio的情况，对比它和当初的ofo小黄车的迅速发展到消失的区别，最终促使我买入的理由是创始人，政策的方向，加上和zf的对赌协议。（图片太多了，我就随便挑了几个）我从11块开始买入nio的正股，随后发现了nio的上升趋势的走势规律，我开始每次突破新高后清仓，回落时逢低建仓期权和正股 当时几乎每次操作都是满仓。nio涨到57的时候我已经赚了20多w美金。11月回调的时候我在黄金坑40附近再次握着nio的期权看好1月份的nio day大日子，这是因为近一年来nio被资本看好，赛道明朗 销量明显增长。我买到了1月底的看涨期权，在64附近开盘清仓。收益扩大至30w美金。最后一次操作nio因为这时的nio走势很像茶杯柄，于是我在54附近开始建仓nio的看涨70的期权，但是当时没有注意大环境的趋势赶上了科技股泡沫破灭 nio并没有突破茶杯柄的走势，跌破支","images":[{"img":"https://static.tigerbbs.com/c54dddcb485e0e85571fa71af686d9d5","width":"688","height":"405"},{"img":"https://static.tigerbbs.com/e10f949d91cb08c5dd152794b49fb661","width":"688","height":"397"},{"img":"https://static.tigerbbs.com/f17623c99c383857433f34d5b5d946eb","width":"688","height":"402"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805151775","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":23,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":107,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174402739,"gmtCreate":1627119420721,"gmtModify":1631890211894,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"🙃🙃🙃","listText":"🙃🙃🙃","text":"🙃🙃🙃","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/174402739","repostId":"1170350340","repostType":4,"isVote":1,"tweetType":1,"viewCount":342,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170198995,"gmtCreate":1626410014717,"gmtModify":1633926987579,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/170198995","repostId":"2151261135","repostType":2,"repost":{"id":"2151261135","pubTimestamp":1626409687,"share":"https://www.laohu8.com/m/news/2151261135?lang=&edition=full","pubTime":"2021-07-16 12:28","market":"us","language":"zh","title":"缺“芯”的拐点要来了？","url":"https://stock-news.laohu8.com/highlight/detail?id=2151261135","media":"华尔街见闻","summary":"销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气","content":"<p>销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气度的拐点。</p>\n<p><b>华尔街见闻·见智研究所通过分析半导体的周期来解答以下问题：缺芯何时缓解？当下是国产替代的机遇？预示危机的指标又是什么？</b></p>\n<h2>一、从供需错配到再平衡</h2>\n<p><b>1、为什么缺芯？</b></p>\n<p>缺芯缺产能的底层逻辑就是芯片的供给小于需求。从2021年开始全球半导体的供给进入瓶颈期，而伴随着下游需求的爆发式增长，导致半导体行业出现严重缺货的现象。</p>\n<p>国际半导体产业协会SEMI预测，今年是由于云端服务器笔记本电脑、游戏及医疗科技需求成长，5G、物联网汽车及人工智能快速发展，带动了产业的景气度。<b>这其中新能源车和物联网市场是两个增长最快速的变量，新能源车行业五年的复合增速高达41.53%，</b>而手机和电脑依旧是半导体需求端体量最大的，但预期近五年增速较新兴行业低很多。</p>\n<p><img src=\"https://static.tigerbbs.com/4b0897af5cb718219f5e303f10173b62\" tg-width=\"376\" tg-height=\"193\" referrerpolicy=\"no-referrer\"></p>\n<p><b>2、2022年缺芯将缓解?</b></p>\n<p><b>Gartner预测：全球半导体供应短缺将持续整个2021年，并在2022年第二季度恢复至正常水平，而基板产能限制可能会延长到2022年第四季度。</b>也就是说在此之前，半导体还会伴随着长时间的芯片短缺，涨价函依旧会接踵而至。</p>\n<p>从半导体的供需周期来看，在2021年下半年伴随着晶圆厂的设备安装，龙头厂商预期最快2022年开始才能够释放出新产能，这其中包括<a href=\"https://laohu8.com/S/UMC\">联电</a>、格芯、<a href=\"https://laohu8.com/S/SMI\">中芯国际</a>等晶圆代工厂，而<a href=\"https://laohu8.com/S/TSM\">台积电</a>的大批量产能预期在2023年后才能逐步落地，所以半导体行业还需要一个较长的时间周期才重新达到供需平衡。</p>\n<p><b>3、产业链延续涨价？</b></p>\n<p><b>因为供需的错配，产能的紧缺以及扩产带来的成本增加都会相继增加产品的溢价。</b>而涨价直接的好处是给了厂商定价权，出厂价格高了，企业的盈利能力会很大程度提高。但是有一点不能忽略：厂商处于产业链什么位置很关键。如果是处于生产加工的下游，那么原材料成本的提价也要考虑进去。在21年全球大多数晶圆厂、材料以及封测都相继提高了两成左右的价格，龙头厂的订单都排至了2022年。从今年6月份开始10多家厂商陆续发布下半年涨价函，<b>消息指出预计涨价将持续到2022年。</b></p>\n<p>台媒《经济日报》6月24日报道称，IC设计业者透露，明年初晶圆代工价格已经敲定，不仅联电8英寸和12英寸的晶圆代工价格续涨，晶圆代工龙头台积电也涨价，部分8英寸和12英寸制程价格上涨一到两成，<b>且12英寸制程涨幅高于8英寸。</b></p>\n<h2>二、全球扩张下的国产替代机遇</h2>\n<p>世界半导体贸易统计组织（WSTS）预测，2021年全球半导体市场增速将达19.7%， 2022年半导体市场将增长8.8%，连续两年创历史新高。</p>\n<p><b>Gartner预测：中国半导体企业到2025年市场的市场份额将从当下的15%提升至30%，近五年中国半导体将会快速渗透。</b></p>\n<p><b>全球晶圆厂最新扩建计划，中国是首位？</b>今年6月份国际半导体产业协会SEMI发布报告称2021-2022年全球半导体制造商新增29座晶圆厂，<b>分别于2021年建设19座，2022年再增加10座。</b></p>\n<p>从SEMI给出的数据来看，<b>中国大陆和台湾地区两年间增加的晶圆厂数量是全球首位，共计16座，</b>其次是美国4座，欧洲和中东一共增加3座，日本和韩国各两座。全部投产后，每月可生产260万片等效200mm晶圆。<b>考虑到新增的晶圆厂建设周期较长，预计从2023年开始新增晶圆厂开始大幅采购半导体设备。</b></p>\n<p><img src=\"https://static.tigerbbs.com/228b84b60813b81b51450594568779e2\" tg-width=\"724\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p>\n<p>那么国内半导体行业有存在怎样的机遇呢？华尔街见闻·见智研究所对四大行业的格局进行了分析。</p>\n<p><b>1、晶圆厂格局</b></p>\n<p><a href=\"https://laohu8.com/S/SMSN.UK\">三星</a>是全球市占率最大的晶圆厂，达到14.7%，折算约310万片/月的产能；其次是台积电市占率为13.1%，约270万片/月产能。美光和SK海力士位居第三、第四，市占率在9%左右，每家产能约为190万片/月。<a href=\"https://laohu8.com/S/688981\">中芯国际</a>的产能约为54万片/月，在全球排名前十二。（产能按8英寸折算）</p>\n<p>行业内5家最大的纯晶圆代工厂——台积电、联电、格芯、<a href=\"https://laohu8.com/S/00981\">中芯国际</a>和力晶（包括Nexchip）约占全球晶圆代工厂总产能的24％，行业集中度非常高。<b>国内晶圆厂预计21年新增的产能75万片/月（按 8 英寸折算），其中新增产能的前三位分别是长江存储、<a href=\"https://laohu8.com/S/01347\">华虹半导体</a>和中芯国际。</b></p>\n<p><b>2、设备厂格局</b></p>\n<p>从设备类型的市场占比情况来看，<b>前道晶圆制造设备占主要比重，高达80%，这其中主要包括刻蚀机、薄膜沉积设备和光刻机；其次封装和测试设备的占比比较小，分别为10%和8%。</b>前道晶圆设备龙头包括泛林半导体、TEL、<a href=\"https://laohu8.com/S/AMAT\">应用材料</a>、ASML几乎是垄断了全球九成的份额。</p>\n<p>在国内的公司中，<b>刻蚀机设备</b>主要是<a href=\"https://laohu8.com/S/002371\">北方华创</a>和中微半导体。两个公司目前是差异化的布局，不存在直接竞争关系。北方华创的优势在于长硅刻蚀和金属刻蚀，而<a href=\"https://laohu8.com/S/688012\">中微公司</a>的优势在于长介质刻蚀。</p>\n<p><b>沉积设备：</b>主要是北方华创和沈阳拓荆，两者在ALD和PVD方面存在一定程度的竞争，而在化学气相沉积方面只有沈阳拓荆在做，在今年7月12日沈阳拓荆在科创板IPO申请也已经获受理了。</p>\n<p><b>光刻设备：</b>上海微电子已经突破了光刻机90/65的技术节点；沈阳芯源突破涂胶显影机90/65的技术节点。</p>\n<p><b>3、封测厂格局</b></p>\n<p>全球封测市场中CR3占比约六成，集中度很高，日月光占比就达到三成以上，其次是安靠和<a href=\"https://laohu8.com/S/600584\">长电科技</a>约一成以上，<a href=\"https://laohu8.com/S/002156\">通富微电</a>位居第五，市占率约4.4%。长电科技背靠中芯国际，通富微电背靠<a href=\"https://laohu8.com/S/AMD\">AMD</a>。</p>\n<p><b>4、光刻胶格局</b></p>\n<p>半导体光刻胶主要分为四种类型，g线、i线、KrF线和ArF线。<b>就占比情况来看ArF线占比最大，约四成，其次是KrF线两成，g线和i线共计两成。</b></p>\n<p>光刻胶九成份额被外国龙头垄断，<b>今年由于日本信越化学的KrF光刻胶无限期断供，给国内公司很大的发展机遇，哪些厂商率先进入晶圆代工厂的生产线中，未来成长空间会非常大。</b></p>\n<p>ArF线：北京科华（现被<a href=\"https://laohu8.com/S/603650\">彤程新材</a>收购）、<a href=\"https://laohu8.com/S/300655\">晶瑞股份</a>正在研发中；<a href=\"https://laohu8.com/S/300346\">南大光电</a>通过客户认证。</p>\n<p>KrF线：北京科华、<a href=\"https://laohu8.com/S/300236\">上海新阳</a>已经实现量产，晶瑞股份已完成测试。</p>\n<p>g线/i线：<a href=\"https://laohu8.com/S/300576\">容大感光</a>产能扩建中，北京科华可供应。</p>\n<h2>三、产能过剩后的危机</h2>\n<p>随着未来五年内半导体产能的大量投放，而需求增速的逐渐放缓，伴随而来的是半导体产能过剩，高库存的情况，必然会导致半导体市场价格的下跌。<b>观测这一重要转折点要看什么？</b>通过复盘半导体的历史周期，华尔街见闻·见智研究所观察到<b>资本开支可作为预测拐点的领先指标。</b></p>\n<p>从历史规律来看，在资本开支大幅增长的一到两年后将会伴随半导体市场的大幅下跌。如1984年全球半导体行业资本开支增长106%，而后的第二年半导体市场下跌了17%。此后的四个周期也是出现相同的规律。直到2008年的下跌是由金融危机导致的，而后2010年资本开支出现大幅回升，达到107%，第二年半导体市场同样出现了暴跌。</p>\n<p><b>通过复盘历史得到非常重要的指标，那就是资本开始危险临界线。当资本开支增长超过40%的时候，通常预测未来会出现产能过剩和半导体增速下跌的情况。</b></p>\n<p><img src=\"https://static.tigerbbs.com/f918d3c3c08f3fdc0888508005f63b8d\" tg-width=\"674\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p>\n<p><b>危机来临了吗？</b></p>\n<p>根据IC Insights的预测来看，2021年半导体资本开支的增速预计在16%-23%之间。<b>总体上看半导体市场还处于景气周期中，目前没有达到产能过剩的临界点。但需要特别注意的是，台积电21年的资本开支增速同比达到74%，<a href=\"https://laohu8.com/S/INTC\">英特尔</a>资本开支同比增速达到37%，已经达到高水位线，而三星的资本开支几乎与去年齐平。</b></p>","source":"wallstreetcn_api","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>缺“芯”的拐点要来了？ </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\">\n缺“芯”的拐点要来了？ \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 12:28 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3635357><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气度的拐点。\n华尔街见闻·见智研究所通过分析半导体的周期来解答以下问题：缺芯何时缓解？当下是国产替代的机遇？预示危机的指标又是什么？\n一、从供需错配到再平衡\n1、为什么缺芯？\n缺芯缺产能的底层逻辑就是...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3635357\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/03e38a3a3c63bd5a9d8d8ca2d384d1c5","relate_stocks":{"00981":"中芯国际","TSM":"台积电"},"source_url":"https://wallstreetcn.com/articles/3635357","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151261135","content_text":"销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气度的拐点。\n华尔街见闻·见智研究所通过分析半导体的周期来解答以下问题：缺芯何时缓解？当下是国产替代的机遇？预示危机的指标又是什么？\n一、从供需错配到再平衡\n1、为什么缺芯？\n缺芯缺产能的底层逻辑就是芯片的供给小于需求。从2021年开始全球半导体的供给进入瓶颈期，而伴随着下游需求的爆发式增长，导致半导体行业出现严重缺货的现象。\n国际半导体产业协会SEMI预测，今年是由于云端服务器笔记本电脑、游戏及医疗科技需求成长，5G、物联网汽车及人工智能快速发展，带动了产业的景气度。这其中新能源车和物联网市场是两个增长最快速的变量，新能源车行业五年的复合增速高达41.53%，而手机和电脑依旧是半导体需求端体量最大的，但预期近五年增速较新兴行业低很多。\n\n2、2022年缺芯将缓解?\nGartner预测：全球半导体供应短缺将持续整个2021年，并在2022年第二季度恢复至正常水平，而基板产能限制可能会延长到2022年第四季度。也就是说在此之前，半导体还会伴随着长时间的芯片短缺，涨价函依旧会接踵而至。\n从半导体的供需周期来看，在2021年下半年伴随着晶圆厂的设备安装，龙头厂商预期最快2022年开始才能够释放出新产能，这其中包括联电、格芯、中芯国际等晶圆代工厂，而台积电的大批量产能预期在2023年后才能逐步落地，所以半导体行业还需要一个较长的时间周期才重新达到供需平衡。\n3、产业链延续涨价？\n因为供需的错配，产能的紧缺以及扩产带来的成本增加都会相继增加产品的溢价。而涨价直接的好处是给了厂商定价权，出厂价格高了，企业的盈利能力会很大程度提高。但是有一点不能忽略：厂商处于产业链什么位置很关键。如果是处于生产加工的下游，那么原材料成本的提价也要考虑进去。在21年全球大多数晶圆厂、材料以及封测都相继提高了两成左右的价格，龙头厂的订单都排至了2022年。从今年6月份开始10多家厂商陆续发布下半年涨价函，消息指出预计涨价将持续到2022年。\n台媒《经济日报》6月24日报道称，IC设计业者透露，明年初晶圆代工价格已经敲定，不仅联电8英寸和12英寸的晶圆代工价格续涨，晶圆代工龙头台积电也涨价，部分8英寸和12英寸制程价格上涨一到两成，且12英寸制程涨幅高于8英寸。\n二、全球扩张下的国产替代机遇\n世界半导体贸易统计组织（WSTS）预测，2021年全球半导体市场增速将达19.7%， 2022年半导体市场将增长8.8%，连续两年创历史新高。\nGartner预测：中国半导体企业到2025年市场的市场份额将从当下的15%提升至30%，近五年中国半导体将会快速渗透。\n全球晶圆厂最新扩建计划，中国是首位？今年6月份国际半导体产业协会SEMI发布报告称2021-2022年全球半导体制造商新增29座晶圆厂，分别于2021年建设19座，2022年再增加10座。\n从SEMI给出的数据来看，中国大陆和台湾地区两年间增加的晶圆厂数量是全球首位，共计16座，其次是美国4座，欧洲和中东一共增加3座，日本和韩国各两座。全部投产后，每月可生产260万片等效200mm晶圆。考虑到新增的晶圆厂建设周期较长，预计从2023年开始新增晶圆厂开始大幅采购半导体设备。\n\n那么国内半导体行业有存在怎样的机遇呢？华尔街见闻·见智研究所对四大行业的格局进行了分析。\n1、晶圆厂格局\n三星是全球市占率最大的晶圆厂，达到14.7%，折算约310万片/月的产能；其次是台积电市占率为13.1%，约270万片/月产能。美光和SK海力士位居第三、第四，市占率在9%左右，每家产能约为190万片/月。中芯国际的产能约为54万片/月，在全球排名前十二。（产能按8英寸折算）\n行业内5家最大的纯晶圆代工厂——台积电、联电、格芯、中芯国际和力晶（包括Nexchip）约占全球晶圆代工厂总产能的24％，行业集中度非常高。国内晶圆厂预计21年新增的产能75万片/月（按 8 英寸折算），其中新增产能的前三位分别是长江存储、华虹半导体和中芯国际。\n2、设备厂格局\n从设备类型的市场占比情况来看，前道晶圆制造设备占主要比重，高达80%，这其中主要包括刻蚀机、薄膜沉积设备和光刻机；其次封装和测试设备的占比比较小，分别为10%和8%。前道晶圆设备龙头包括泛林半导体、TEL、应用材料、ASML几乎是垄断了全球九成的份额。\n在国内的公司中，刻蚀机设备主要是北方华创和中微半导体。两个公司目前是差异化的布局，不存在直接竞争关系。北方华创的优势在于长硅刻蚀和金属刻蚀，而中微公司的优势在于长介质刻蚀。\n沉积设备：主要是北方华创和沈阳拓荆，两者在ALD和PVD方面存在一定程度的竞争，而在化学气相沉积方面只有沈阳拓荆在做，在今年7月12日沈阳拓荆在科创板IPO申请也已经获受理了。\n光刻设备：上海微电子已经突破了光刻机90/65的技术节点；沈阳芯源突破涂胶显影机90/65的技术节点。\n3、封测厂格局\n全球封测市场中CR3占比约六成，集中度很高，日月光占比就达到三成以上，其次是安靠和长电科技约一成以上，通富微电位居第五，市占率约4.4%。长电科技背靠中芯国际，通富微电背靠AMD。\n4、光刻胶格局\n半导体光刻胶主要分为四种类型，g线、i线、KrF线和ArF线。就占比情况来看ArF线占比最大，约四成，其次是KrF线两成，g线和i线共计两成。\n光刻胶九成份额被外国龙头垄断，今年由于日本信越化学的KrF光刻胶无限期断供，给国内公司很大的发展机遇，哪些厂商率先进入晶圆代工厂的生产线中，未来成长空间会非常大。\nArF线：北京科华（现被彤程新材收购）、晶瑞股份正在研发中；南大光电通过客户认证。\nKrF线：北京科华、上海新阳已经实现量产，晶瑞股份已完成测试。\ng线/i线：容大感光产能扩建中，北京科华可供应。\n三、产能过剩后的危机\n随着未来五年内半导体产能的大量投放，而需求增速的逐渐放缓，伴随而来的是半导体产能过剩，高库存的情况，必然会导致半导体市场价格的下跌。观测这一重要转折点要看什么？通过复盘半导体的历史周期，华尔街见闻·见智研究所观察到资本开支可作为预测拐点的领先指标。\n从历史规律来看，在资本开支大幅增长的一到两年后将会伴随半导体市场的大幅下跌。如1984年全球半导体行业资本开支增长106%，而后的第二年半导体市场下跌了17%。此后的四个周期也是出现相同的规律。直到2008年的下跌是由金融危机导致的，而后2010年资本开支出现大幅回升，达到107%，第二年半导体市场同样出现了暴跌。\n通过复盘历史得到非常重要的指标，那就是资本开始危险临界线。当资本开支增长超过40%的时候，通常预测未来会出现产能过剩和半导体增速下跌的情况。\n\n危机来临了吗？\n根据IC Insights的预测来看，2021年半导体资本开支的增速预计在16%-23%之间。总体上看半导体市场还处于景气周期中，目前没有达到产能过剩的临界点。但需要特别注意的是，台积电21年的资本开支增速同比达到74%，英特尔资本开支同比增速达到37%，已经达到高水位线，而三星的资本开支几乎与去年齐平。","news_type":1},"isVote":1,"tweetType":1,"viewCount":222,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170193924,"gmtCreate":1626409839768,"gmtModify":1633926989460,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/170193924","repostId":"2151261135","repostType":4,"repost":{"id":"2151261135","pubTimestamp":1626409687,"share":"https://www.laohu8.com/m/news/2151261135?lang=&edition=full","pubTime":"2021-07-16 12:28","market":"us","language":"zh","title":"缺“芯”的拐点要来了？","url":"https://stock-news.laohu8.com/highlight/detail?id=2151261135","media":"华尔街见闻","summary":"销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气","content":"<p>销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气度的拐点。</p>\n<p><b>华尔街见闻·见智研究所通过分析半导体的周期来解答以下问题：缺芯何时缓解？当下是国产替代的机遇？预示危机的指标又是什么？</b></p>\n<h2>一、从供需错配到再平衡</h2>\n<p><b>1、为什么缺芯？</b></p>\n<p>缺芯缺产能的底层逻辑就是芯片的供给小于需求。从2021年开始全球半导体的供给进入瓶颈期，而伴随着下游需求的爆发式增长，导致半导体行业出现严重缺货的现象。</p>\n<p>国际半导体产业协会SEMI预测，今年是由于云端服务器笔记本电脑、游戏及医疗科技需求成长，5G、物联网汽车及人工智能快速发展，带动了产业的景气度。<b>这其中新能源车和物联网市场是两个增长最快速的变量，新能源车行业五年的复合增速高达41.53%，</b>而手机和电脑依旧是半导体需求端体量最大的，但预期近五年增速较新兴行业低很多。</p>\n<p><img src=\"https://static.tigerbbs.com/4b0897af5cb718219f5e303f10173b62\" tg-width=\"376\" tg-height=\"193\" referrerpolicy=\"no-referrer\"></p>\n<p><b>2、2022年缺芯将缓解?</b></p>\n<p><b>Gartner预测：全球半导体供应短缺将持续整个2021年，并在2022年第二季度恢复至正常水平，而基板产能限制可能会延长到2022年第四季度。</b>也就是说在此之前，半导体还会伴随着长时间的芯片短缺，涨价函依旧会接踵而至。</p>\n<p>从半导体的供需周期来看，在2021年下半年伴随着晶圆厂的设备安装，龙头厂商预期最快2022年开始才能够释放出新产能，这其中包括<a href=\"https://laohu8.com/S/UMC\">联电</a>、格芯、<a href=\"https://laohu8.com/S/SMI\">中芯国际</a>等晶圆代工厂，而<a href=\"https://laohu8.com/S/TSM\">台积电</a>的大批量产能预期在2023年后才能逐步落地，所以半导体行业还需要一个较长的时间周期才重新达到供需平衡。</p>\n<p><b>3、产业链延续涨价？</b></p>\n<p><b>因为供需的错配，产能的紧缺以及扩产带来的成本增加都会相继增加产品的溢价。</b>而涨价直接的好处是给了厂商定价权，出厂价格高了，企业的盈利能力会很大程度提高。但是有一点不能忽略：厂商处于产业链什么位置很关键。如果是处于生产加工的下游，那么原材料成本的提价也要考虑进去。在21年全球大多数晶圆厂、材料以及封测都相继提高了两成左右的价格，龙头厂的订单都排至了2022年。从今年6月份开始10多家厂商陆续发布下半年涨价函，<b>消息指出预计涨价将持续到2022年。</b></p>\n<p>台媒《经济日报》6月24日报道称，IC设计业者透露，明年初晶圆代工价格已经敲定，不仅联电8英寸和12英寸的晶圆代工价格续涨，晶圆代工龙头台积电也涨价，部分8英寸和12英寸制程价格上涨一到两成，<b>且12英寸制程涨幅高于8英寸。</b></p>\n<h2>二、全球扩张下的国产替代机遇</h2>\n<p>世界半导体贸易统计组织（WSTS）预测，2021年全球半导体市场增速将达19.7%， 2022年半导体市场将增长8.8%，连续两年创历史新高。</p>\n<p><b>Gartner预测：中国半导体企业到2025年市场的市场份额将从当下的15%提升至30%，近五年中国半导体将会快速渗透。</b></p>\n<p><b>全球晶圆厂最新扩建计划，中国是首位？</b>今年6月份国际半导体产业协会SEMI发布报告称2021-2022年全球半导体制造商新增29座晶圆厂，<b>分别于2021年建设19座，2022年再增加10座。</b></p>\n<p>从SEMI给出的数据来看，<b>中国大陆和台湾地区两年间增加的晶圆厂数量是全球首位，共计16座，</b>其次是美国4座，欧洲和中东一共增加3座，日本和韩国各两座。全部投产后，每月可生产260万片等效200mm晶圆。<b>考虑到新增的晶圆厂建设周期较长，预计从2023年开始新增晶圆厂开始大幅采购半导体设备。</b></p>\n<p><img src=\"https://static.tigerbbs.com/228b84b60813b81b51450594568779e2\" tg-width=\"724\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p>\n<p>那么国内半导体行业有存在怎样的机遇呢？华尔街见闻·见智研究所对四大行业的格局进行了分析。</p>\n<p><b>1、晶圆厂格局</b></p>\n<p><a href=\"https://laohu8.com/S/SMSN.UK\">三星</a>是全球市占率最大的晶圆厂，达到14.7%，折算约310万片/月的产能；其次是台积电市占率为13.1%，约270万片/月产能。美光和SK海力士位居第三、第四，市占率在9%左右，每家产能约为190万片/月。<a href=\"https://laohu8.com/S/688981\">中芯国际</a>的产能约为54万片/月，在全球排名前十二。（产能按8英寸折算）</p>\n<p>行业内5家最大的纯晶圆代工厂——台积电、联电、格芯、<a href=\"https://laohu8.com/S/00981\">中芯国际</a>和力晶（包括Nexchip）约占全球晶圆代工厂总产能的24％，行业集中度非常高。<b>国内晶圆厂预计21年新增的产能75万片/月（按 8 英寸折算），其中新增产能的前三位分别是长江存储、<a href=\"https://laohu8.com/S/01347\">华虹半导体</a>和中芯国际。</b></p>\n<p><b>2、设备厂格局</b></p>\n<p>从设备类型的市场占比情况来看，<b>前道晶圆制造设备占主要比重，高达80%，这其中主要包括刻蚀机、薄膜沉积设备和光刻机；其次封装和测试设备的占比比较小，分别为10%和8%。</b>前道晶圆设备龙头包括泛林半导体、TEL、<a href=\"https://laohu8.com/S/AMAT\">应用材料</a>、ASML几乎是垄断了全球九成的份额。</p>\n<p>在国内的公司中，<b>刻蚀机设备</b>主要是<a href=\"https://laohu8.com/S/002371\">北方华创</a>和中微半导体。两个公司目前是差异化的布局，不存在直接竞争关系。北方华创的优势在于长硅刻蚀和金属刻蚀，而<a href=\"https://laohu8.com/S/688012\">中微公司</a>的优势在于长介质刻蚀。</p>\n<p><b>沉积设备：</b>主要是北方华创和沈阳拓荆，两者在ALD和PVD方面存在一定程度的竞争，而在化学气相沉积方面只有沈阳拓荆在做，在今年7月12日沈阳拓荆在科创板IPO申请也已经获受理了。</p>\n<p><b>光刻设备：</b>上海微电子已经突破了光刻机90/65的技术节点；沈阳芯源突破涂胶显影机90/65的技术节点。</p>\n<p><b>3、封测厂格局</b></p>\n<p>全球封测市场中CR3占比约六成，集中度很高，日月光占比就达到三成以上，其次是安靠和<a href=\"https://laohu8.com/S/600584\">长电科技</a>约一成以上，<a href=\"https://laohu8.com/S/002156\">通富微电</a>位居第五，市占率约4.4%。长电科技背靠中芯国际，通富微电背靠<a href=\"https://laohu8.com/S/AMD\">AMD</a>。</p>\n<p><b>4、光刻胶格局</b></p>\n<p>半导体光刻胶主要分为四种类型，g线、i线、KrF线和ArF线。<b>就占比情况来看ArF线占比最大，约四成，其次是KrF线两成，g线和i线共计两成。</b></p>\n<p>光刻胶九成份额被外国龙头垄断，<b>今年由于日本信越化学的KrF光刻胶无限期断供，给国内公司很大的发展机遇，哪些厂商率先进入晶圆代工厂的生产线中，未来成长空间会非常大。</b></p>\n<p>ArF线：北京科华（现被<a href=\"https://laohu8.com/S/603650\">彤程新材</a>收购）、<a href=\"https://laohu8.com/S/300655\">晶瑞股份</a>正在研发中；<a href=\"https://laohu8.com/S/300346\">南大光电</a>通过客户认证。</p>\n<p>KrF线：北京科华、<a href=\"https://laohu8.com/S/300236\">上海新阳</a>已经实现量产，晶瑞股份已完成测试。</p>\n<p>g线/i线：<a href=\"https://laohu8.com/S/300576\">容大感光</a>产能扩建中，北京科华可供应。</p>\n<h2>三、产能过剩后的危机</h2>\n<p>随着未来五年内半导体产能的大量投放，而需求增速的逐渐放缓，伴随而来的是半导体产能过剩，高库存的情况，必然会导致半导体市场价格的下跌。<b>观测这一重要转折点要看什么？</b>通过复盘半导体的历史周期，华尔街见闻·见智研究所观察到<b>资本开支可作为预测拐点的领先指标。</b></p>\n<p>从历史规律来看，在资本开支大幅增长的一到两年后将会伴随半导体市场的大幅下跌。如1984年全球半导体行业资本开支增长106%，而后的第二年半导体市场下跌了17%。此后的四个周期也是出现相同的规律。直到2008年的下跌是由金融危机导致的，而后2010年资本开支出现大幅回升，达到107%，第二年半导体市场同样出现了暴跌。</p>\n<p><b>通过复盘历史得到非常重要的指标，那就是资本开始危险临界线。当资本开支增长超过40%的时候，通常预测未来会出现产能过剩和半导体增速下跌的情况。</b></p>\n<p><img src=\"https://static.tigerbbs.com/f918d3c3c08f3fdc0888508005f63b8d\" tg-width=\"674\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p>\n<p><b>危机来临了吗？</b></p>\n<p>根据IC Insights的预测来看，2021年半导体资本开支的增速预计在16%-23%之间。<b>总体上看半导体市场还处于景气周期中，目前没有达到产能过剩的临界点。但需要特别注意的是，台积电21年的资本开支增速同比达到74%，<a href=\"https://laohu8.com/S/INTC\">英特尔</a>资本开支同比增速达到37%，已经达到高水位线，而三星的资本开支几乎与去年齐平。</b></p>","source":"wallstreetcn_api","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>缺“芯”的拐点要来了？ </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\">\n缺“芯”的拐点要来了？ \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 12:28 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3635357><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气度的拐点。\n华尔街见闻·见智研究所通过分析半导体的周期来解答以下问题：缺芯何时缓解？当下是国产替代的机遇？预示危机的指标又是什么？\n一、从供需错配到再平衡\n1、为什么缺芯？\n缺芯缺产能的底层逻辑就是...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3635357\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/03e38a3a3c63bd5a9d8d8ca2d384d1c5","relate_stocks":{"00981":"中芯国际","TSM":"台积电"},"source_url":"https://wallstreetcn.com/articles/3635357","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151261135","content_text":"销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气度的拐点。\n华尔街见闻·见智研究所通过分析半导体的周期来解答以下问题：缺芯何时缓解？当下是国产替代的机遇？预示危机的指标又是什么？\n一、从供需错配到再平衡\n1、为什么缺芯？\n缺芯缺产能的底层逻辑就是芯片的供给小于需求。从2021年开始全球半导体的供给进入瓶颈期，而伴随着下游需求的爆发式增长，导致半导体行业出现严重缺货的现象。\n国际半导体产业协会SEMI预测，今年是由于云端服务器笔记本电脑、游戏及医疗科技需求成长，5G、物联网汽车及人工智能快速发展，带动了产业的景气度。这其中新能源车和物联网市场是两个增长最快速的变量，新能源车行业五年的复合增速高达41.53%，而手机和电脑依旧是半导体需求端体量最大的，但预期近五年增速较新兴行业低很多。\n\n2、2022年缺芯将缓解?\nGartner预测：全球半导体供应短缺将持续整个2021年，并在2022年第二季度恢复至正常水平，而基板产能限制可能会延长到2022年第四季度。也就是说在此之前，半导体还会伴随着长时间的芯片短缺，涨价函依旧会接踵而至。\n从半导体的供需周期来看，在2021年下半年伴随着晶圆厂的设备安装，龙头厂商预期最快2022年开始才能够释放出新产能，这其中包括联电、格芯、中芯国际等晶圆代工厂，而台积电的大批量产能预期在2023年后才能逐步落地，所以半导体行业还需要一个较长的时间周期才重新达到供需平衡。\n3、产业链延续涨价？\n因为供需的错配，产能的紧缺以及扩产带来的成本增加都会相继增加产品的溢价。而涨价直接的好处是给了厂商定价权，出厂价格高了，企业的盈利能力会很大程度提高。但是有一点不能忽略：厂商处于产业链什么位置很关键。如果是处于生产加工的下游，那么原材料成本的提价也要考虑进去。在21年全球大多数晶圆厂、材料以及封测都相继提高了两成左右的价格，龙头厂的订单都排至了2022年。从今年6月份开始10多家厂商陆续发布下半年涨价函，消息指出预计涨价将持续到2022年。\n台媒《经济日报》6月24日报道称，IC设计业者透露，明年初晶圆代工价格已经敲定，不仅联电8英寸和12英寸的晶圆代工价格续涨，晶圆代工龙头台积电也涨价，部分8英寸和12英寸制程价格上涨一到两成，且12英寸制程涨幅高于8英寸。\n二、全球扩张下的国产替代机遇\n世界半导体贸易统计组织（WSTS）预测，2021年全球半导体市场增速将达19.7%， 2022年半导体市场将增长8.8%，连续两年创历史新高。\nGartner预测：中国半导体企业到2025年市场的市场份额将从当下的15%提升至30%，近五年中国半导体将会快速渗透。\n全球晶圆厂最新扩建计划，中国是首位？今年6月份国际半导体产业协会SEMI发布报告称2021-2022年全球半导体制造商新增29座晶圆厂，分别于2021年建设19座，2022年再增加10座。\n从SEMI给出的数据来看，中国大陆和台湾地区两年间增加的晶圆厂数量是全球首位，共计16座，其次是美国4座，欧洲和中东一共增加3座，日本和韩国各两座。全部投产后，每月可生产260万片等效200mm晶圆。考虑到新增的晶圆厂建设周期较长，预计从2023年开始新增晶圆厂开始大幅采购半导体设备。\n\n那么国内半导体行业有存在怎样的机遇呢？华尔街见闻·见智研究所对四大行业的格局进行了分析。\n1、晶圆厂格局\n三星是全球市占率最大的晶圆厂，达到14.7%，折算约310万片/月的产能；其次是台积电市占率为13.1%，约270万片/月产能。美光和SK海力士位居第三、第四，市占率在9%左右，每家产能约为190万片/月。中芯国际的产能约为54万片/月，在全球排名前十二。（产能按8英寸折算）\n行业内5家最大的纯晶圆代工厂——台积电、联电、格芯、中芯国际和力晶（包括Nexchip）约占全球晶圆代工厂总产能的24％，行业集中度非常高。国内晶圆厂预计21年新增的产能75万片/月（按 8 英寸折算），其中新增产能的前三位分别是长江存储、华虹半导体和中芯国际。\n2、设备厂格局\n从设备类型的市场占比情况来看，前道晶圆制造设备占主要比重，高达80%，这其中主要包括刻蚀机、薄膜沉积设备和光刻机；其次封装和测试设备的占比比较小，分别为10%和8%。前道晶圆设备龙头包括泛林半导体、TEL、应用材料、ASML几乎是垄断了全球九成的份额。\n在国内的公司中，刻蚀机设备主要是北方华创和中微半导体。两个公司目前是差异化的布局，不存在直接竞争关系。北方华创的优势在于长硅刻蚀和金属刻蚀，而中微公司的优势在于长介质刻蚀。\n沉积设备：主要是北方华创和沈阳拓荆，两者在ALD和PVD方面存在一定程度的竞争，而在化学气相沉积方面只有沈阳拓荆在做，在今年7月12日沈阳拓荆在科创板IPO申请也已经获受理了。\n光刻设备：上海微电子已经突破了光刻机90/65的技术节点；沈阳芯源突破涂胶显影机90/65的技术节点。\n3、封测厂格局\n全球封测市场中CR3占比约六成，集中度很高，日月光占比就达到三成以上，其次是安靠和长电科技约一成以上，通富微电位居第五，市占率约4.4%。长电科技背靠中芯国际，通富微电背靠AMD。\n4、光刻胶格局\n半导体光刻胶主要分为四种类型，g线、i线、KrF线和ArF线。就占比情况来看ArF线占比最大，约四成，其次是KrF线两成，g线和i线共计两成。\n光刻胶九成份额被外国龙头垄断，今年由于日本信越化学的KrF光刻胶无限期断供，给国内公司很大的发展机遇，哪些厂商率先进入晶圆代工厂的生产线中，未来成长空间会非常大。\nArF线：北京科华（现被彤程新材收购）、晶瑞股份正在研发中；南大光电通过客户认证。\nKrF线：北京科华、上海新阳已经实现量产，晶瑞股份已完成测试。\ng线/i线：容大感光产能扩建中，北京科华可供应。\n三、产能过剩后的危机\n随着未来五年内半导体产能的大量投放，而需求增速的逐渐放缓，伴随而来的是半导体产能过剩，高库存的情况，必然会导致半导体市场价格的下跌。观测这一重要转折点要看什么？通过复盘半导体的历史周期，华尔街见闻·见智研究所观察到资本开支可作为预测拐点的领先指标。\n从历史规律来看，在资本开支大幅增长的一到两年后将会伴随半导体市场的大幅下跌。如1984年全球半导体行业资本开支增长106%，而后的第二年半导体市场下跌了17%。此后的四个周期也是出现相同的规律。直到2008年的下跌是由金融危机导致的，而后2010年资本开支出现大幅回升，达到107%，第二年半导体市场同样出现了暴跌。\n通过复盘历史得到非常重要的指标，那就是资本开始危险临界线。当资本开支增长超过40%的时候，通常预测未来会出现产能过剩和半导体增速下跌的情况。\n\n危机来临了吗？\n根据IC Insights的预测来看，2021年半导体资本开支的增速预计在16%-23%之间。总体上看半导体市场还处于景气周期中，目前没有达到产能过剩的临界点。但需要特别注意的是，台积电21年的资本开支增速同比达到74%，英特尔资本开支同比增速达到37%，已经达到高水位线，而三星的资本开支几乎与去年齐平。","news_type":1},"isVote":1,"tweetType":1,"viewCount":180,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147392987,"gmtCreate":1626332933349,"gmtModify":1633927775238,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/147392987","repostId":"1188379078","repostType":4,"isVote":1,"tweetType":1,"viewCount":232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145459404,"gmtCreate":1626239860508,"gmtModify":1633928707283,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145459404","repostId":"1126251044","repostType":4,"repost":{"id":"1126251044","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626218657,"share":"https://www.laohu8.com/m/news/1126251044?lang=&edition=full","pubTime":"2021-07-14 07:24","market":"hk","language":"zh","title":"医脉通一手中签率5%，认购90手稳中一手","url":"https://stock-news.laohu8.com/highlight/detail?id=1126251044","media":"老虎资讯综合","summary":"7月14日，医脉通发布公告，公司全球发售约1.55亿股股份，其中香港发售股份7754.8万股，国际发售股份7754.8万股，另有15%超额配股权；发售价已厘定为每股发售股份27.20港元，每手买卖单位","content":"<p>7月14日，<a href=\"https://laohu8.com/S/02192\">医脉通</a>发布公告，公司全球发售约1.55亿股股份，其中香港发售股份7754.8万股，国际发售股份7754.8万股，另有15%超额配股权；发售价已厘定为每股发售股份27.20港元，每手买卖单位500股；<a href=\"https://laohu8.com/S/GS\">高盛</a>及<a href=\"https://laohu8.com/S/00665\">海通国际</a>为联席保荐人，预期股份将于2021年7月15日于联交所主板挂牌上市。</p>\n<p><b>老虎资讯整理相关数据如下：</b></p>\n<p><img src=\"https://static.tigerbbs.com/fa9b3e669a6b601bd6f663db62eb0518\" tg-width=\"1059\" tg-height=\"824\"></p>\n<p><b>分配结果：</b></p>\n<p>甲组每手500股，一手中签率5%，认购90手稳中一手。</p>\n<p>乙组头为20万股（400手），获配1000股（2手）。</p>\n<p><img src=\"https://static.tigerbbs.com/836a351342d5d77d292efd488168758f\" tg-width=\"863\" tg-height=\"585\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/21001441e923fa8b5c5f3e75ed77dcb8\" tg-width=\"873\" tg-height=\"538\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/4701c7bcc7cc26514d87a7f555b281bc\" tg-width=\"856\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p>\n<p>国际发售初步提呈发售的发售股份获大幅超额认购，相当于国际发售初步可供认购发售股份总数约31.2倍。根据香港公开发售初步提呈发售的香港公开发售股份获大幅超额认购。公司合共接获626,195份有效申请，认购合共91.88亿股香港公开发售股份，相当于香港公开发售初步可供认购香港公开发售股份总数约592.41倍。</p>\n<p>根据发售价每股27.20港元及基石投资协议，基石投资者认购合共6278.45万股发售股份，相当于全球发售完成后已发行股本约9.10%(假设并无行使超额配股权且并无计及可能因根据购股权计划已授出或将授出的购股权获行使而发行的任何股份)；及全球发售的发售股份数目约40.48%(假设并无行使超额配股权)。</p>\n<p>按发售价每股发售股份27.20港元计算，公司估计自全球发售收取所得款项净额约40.01亿港元。其中，所得款项净额约40%拟用于在未来三至五年内扩展业务；约30%拟用于在未来三至五年内投资技术及提高研发能力；约20%拟用于精心挑选战略投资或收购机会；及约10%拟用作一般补充营运资金及其他一般企业用途。</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>医脉通一手中签率5%，认购90手稳中一手</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{ 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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\">\n医脉通一手中签率5%，认购90手稳中一手\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-07-14 07:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>7月14日，<a href=\"https://laohu8.com/S/02192\">医脉通</a>发布公告，公司全球发售约1.55亿股股份，其中香港发售股份7754.8万股，国际发售股份7754.8万股，另有15%超额配股权；发售价已厘定为每股发售股份27.20港元，每手买卖单位500股；<a href=\"https://laohu8.com/S/GS\">高盛</a>及<a href=\"https://laohu8.com/S/00665\">海通国际</a>为联席保荐人，预期股份将于2021年7月15日于联交所主板挂牌上市。</p>\n<p><b>老虎资讯整理相关数据如下：</b></p>\n<p><img src=\"https://static.tigerbbs.com/fa9b3e669a6b601bd6f663db62eb0518\" tg-width=\"1059\" tg-height=\"824\"></p>\n<p><b>分配结果：</b></p>\n<p>甲组每手500股，一手中签率5%，认购90手稳中一手。</p>\n<p>乙组头为20万股（400手），获配1000股（2手）。</p>\n<p><img src=\"https://static.tigerbbs.com/836a351342d5d77d292efd488168758f\" tg-width=\"863\" tg-height=\"585\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/21001441e923fa8b5c5f3e75ed77dcb8\" tg-width=\"873\" tg-height=\"538\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/4701c7bcc7cc26514d87a7f555b281bc\" tg-width=\"856\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p>\n<p>国际发售初步提呈发售的发售股份获大幅超额认购，相当于国际发售初步可供认购发售股份总数约31.2倍。根据香港公开发售初步提呈发售的香港公开发售股份获大幅超额认购。公司合共接获626,195份有效申请，认购合共91.88亿股香港公开发售股份，相当于香港公开发售初步可供认购香港公开发售股份总数约592.41倍。</p>\n<p>根据发售价每股27.20港元及基石投资协议，基石投资者认购合共6278.45万股发售股份，相当于全球发售完成后已发行股本约9.10%(假设并无行使超额配股权且并无计及可能因根据购股权计划已授出或将授出的购股权获行使而发行的任何股份)；及全球发售的发售股份数目约40.48%(假设并无行使超额配股权)。</p>\n<p>按发售价每股发售股份27.20港元计算，公司估计自全球发售收取所得款项净额约40.01亿港元。其中，所得款项净额约40%拟用于在未来三至五年内扩展业务；约30%拟用于在未来三至五年内投资技术及提高研发能力；约20%拟用于精心挑选战略投资或收购机会；及约10%拟用作一般补充营运资金及其他一般企业用途。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6b69e234a63c2c0a69ccede7b0faaa18","relate_stocks":{"02192":"医脉通"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126251044","content_text":"7月14日，医脉通发布公告，公司全球发售约1.55亿股股份，其中香港发售股份7754.8万股，国际发售股份7754.8万股，另有15%超额配股权；发售价已厘定为每股发售股份27.20港元，每手买卖单位500股；高盛及海通国际为联席保荐人，预期股份将于2021年7月15日于联交所主板挂牌上市。\n老虎资讯整理相关数据如下：\n\n分配结果：\n甲组每手500股，一手中签率5%，认购90手稳中一手。\n乙组头为20万股（400手），获配1000股（2手）。\n\n国际发售初步提呈发售的发售股份获大幅超额认购，相当于国际发售初步可供认购发售股份总数约31.2倍。根据香港公开发售初步提呈发售的香港公开发售股份获大幅超额认购。公司合共接获626,195份有效申请，认购合共91.88亿股香港公开发售股份，相当于香港公开发售初步可供认购香港公开发售股份总数约592.41倍。\n根据发售价每股27.20港元及基石投资协议，基石投资者认购合共6278.45万股发售股份，相当于全球发售完成后已发行股本约9.10%(假设并无行使超额配股权且并无计及可能因根据购股权计划已授出或将授出的购股权获行使而发行的任何股份)；及全球发售的发售股份数目约40.48%(假设并无行使超额配股权)。\n按发售价每股发售股份27.20港元计算，公司估计自全球发售收取所得款项净额约40.01亿港元。其中，所得款项净额约40%拟用于在未来三至五年内扩展业务；约30%拟用于在未来三至五年内投资技术及提高研发能力；约20%拟用于精心挑选战略投资或收购机会；及约10%拟用作一般补充营运资金及其他一般企业用途。","news_type":1},"isVote":1,"tweetType":1,"viewCount":239,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142470589,"gmtCreate":1626172402441,"gmtModify":1633929431875,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/142470589","repostId":"1126789765","repostType":4,"repost":{"id":"1126789765","weMediaInfo":{"introduction":"中国大陆领先的金融数据、信息和软件服务企业，总部位于上海陆家嘴金融中心。","home_visible":1,"media_name":"Wind万得","id":"99","head_image":"https://static.tigerbbs.com/c71e30d1317b4a5cb20a41998e10ac68"},"pubTimestamp":1626133747,"share":"https://www.laohu8.com/m/news/1126789765?lang=&edition=full","pubTime":"2021-07-13 07:49","market":"us","language":"zh","title":"美联储七月会议如何表态？关注今晚CPI","url":"https://stock-news.laohu8.com/highlight/detail?id=1126789765","media":"Wind万得","summary":"今晚美国公布的CPI数据至关重要，这个数据在一定程度上将显示近期的价格大幅上涨是一个暂时现象，还是通胀压力会更持久。如果今晚通胀超市场预期，那么美联储提前收紧预期可能又会卷土重来；反之市场对美联储收紧的恐慌会继续减弱。市场预计6月份CPI环比增幅将从5月份的0.6%和4月份的0.8%降至0.5%，并预计CPI年率将从5月份的5%降至4.9%。美联储的通胀目标是基于美国商务部的个人消费支出价格指数，该指数往往略低于CPI。","content":"<p>今晚美国公布的CPI数据至关重要，这个数据在一定程度上将显示近期的价格大幅上涨是一个暂时现象，还是通胀压力会更持久。如果今晚通胀超市场预期，那么美联储提前收紧预期可能又会卷土重来；反之市场对美联储收紧的恐慌会继续减弱。</p>\n<p>在过去的六个月里，美国消费者价格指数(CPI)几乎翻了三倍，从一月份的1.7%上升到五月份的5%。核心通胀从1.4%上升到3.8%。市场预计6月份CPI环比增幅将从5月份的0.6%和4月份的0.8%降至0.5%，并预计CPI年率将从5月份的5%降至4.9%。</p>\n<p>过去几个月，美联储成功地降低了市场对通胀的敏感性。这一努力始于去年9月美联储对未来政策引导采用了平均通胀率，并坚持认为当前的飙升是暂时的。但是有一个重要且尚未解决的问题是，疫情导致的经济问题造成会造成多少通胀?这个问题的答案在第四季度基数效应完全消失之前也许很难判断。</p>\n<p>市场一些经济学家认为疫情后强劲的经济复苏将在一段时间内推动物价快速上涨。他们认为，市场应该做好准备，迎接几十年来最高的通胀水平。如果经济学家的预测是正确的，美联储官员可能不得不提前或超过他们预期的上调利率，以控制通胀。</p>\n<p>一些调查显示经济学家认为从2021年到2023年通胀平均年增长率为2.58%，这个水平将达到1993年的水平。\"我们现在正处于一个过渡阶段，\" Naroff Economics LLC首席经济学家Joel Naroff说，\"我们正过渡到通胀率和利率高于过去20年的时期。\"</p>\n<p>Grant Thornton首席经济学家黛安•斯旺克(Diane Swonk)表示:“预计通胀飙升的时间会比美联储此前预计的更长。”“美联储现在可能会在2023年上半年加息，尽管一些美联储官员会尽快采取行动。”</p>\n<p>一些分析师也担心美联储的行动可能过于缓慢。American Chemistry Council首席经济学家凯文•斯威夫特(KevinSwift)表示:“危险在于，货币当局跟不上形势。”“我并不是说恶性通货膨胀即将到来，只是说去年发生了很多事情，整体价格的增长趋势比过去5年或10年更快。”</p>\n<p>随着经济复苏的加快，上次公布的美国5月份消费者价格指数继续快速上涨，较上年同期飙升5%，创下近13年来的最高年通胀率，也反映出需求激增以及劳动力和材料短缺。</p>\n<p>价格上涨反映出，随着广泛接种疫苗、放宽商业限制、数万亿美元的联邦大流行救援计划和充足的家庭储蓄推动了强劲的消费者需求。经季节性因素调整后，美国第一季度国内生产总值(GDP)按年率计算增长6.4%。经济学家预计，第二季度美国经济折合成年率将增长8.1%，这将是上世纪80年代初以来经济增长最好的一年。</p>\n<p>政策制定者也非常关注最近的通胀数据。在疫情最严重时期的一年里，价格压力非常疲弱。随着美联储和其它一些政策制定者继续采取财政和货币政策措施支持经济后，通胀上升是否只是暂时的，是美国经济和金融市场的一个关键问题。</p>\n<p>美联储预计目前还是预计今年通货膨胀率将暂时上升。通货膨胀率的持续大幅上升可能迫使央行提前收紧其宽松货币政策，或者晚些时候采取更激进的应对措施，以实现2%的平均通货膨胀目标。</p>\n<p>美联储的通胀目标是基于美国商务部的个人消费支出价格指数，该指数往往略低于CPI。美联储曾表示，在个人消费支出(PCE)通胀率达到平均2%并实现充分就业之前，它将把利率维持在接近于零的水平。</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>美联储七月会议如何表态？关注今晚CPI</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{ 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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\">\n美联储七月会议如何表态？关注今晚CPI\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/99\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/c71e30d1317b4a5cb20a41998e10ac68);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Wind万得 </p>\n<p class=\"h-time\">2021-07-13 07:49</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>今晚美国公布的CPI数据至关重要，这个数据在一定程度上将显示近期的价格大幅上涨是一个暂时现象，还是通胀压力会更持久。如果今晚通胀超市场预期，那么美联储提前收紧预期可能又会卷土重来；反之市场对美联储收紧的恐慌会继续减弱。</p>\n<p>在过去的六个月里，美国消费者价格指数(CPI)几乎翻了三倍，从一月份的1.7%上升到五月份的5%。核心通胀从1.4%上升到3.8%。市场预计6月份CPI环比增幅将从5月份的0.6%和4月份的0.8%降至0.5%，并预计CPI年率将从5月份的5%降至4.9%。</p>\n<p>过去几个月，美联储成功地降低了市场对通胀的敏感性。这一努力始于去年9月美联储对未来政策引导采用了平均通胀率，并坚持认为当前的飙升是暂时的。但是有一个重要且尚未解决的问题是，疫情导致的经济问题造成会造成多少通胀?这个问题的答案在第四季度基数效应完全消失之前也许很难判断。</p>\n<p>市场一些经济学家认为疫情后强劲的经济复苏将在一段时间内推动物价快速上涨。他们认为，市场应该做好准备，迎接几十年来最高的通胀水平。如果经济学家的预测是正确的，美联储官员可能不得不提前或超过他们预期的上调利率，以控制通胀。</p>\n<p>一些调查显示经济学家认为从2021年到2023年通胀平均年增长率为2.58%，这个水平将达到1993年的水平。\"我们现在正处于一个过渡阶段，\" Naroff Economics LLC首席经济学家Joel Naroff说，\"我们正过渡到通胀率和利率高于过去20年的时期。\"</p>\n<p>Grant Thornton首席经济学家黛安•斯旺克(Diane Swonk)表示:“预计通胀飙升的时间会比美联储此前预计的更长。”“美联储现在可能会在2023年上半年加息，尽管一些美联储官员会尽快采取行动。”</p>\n<p>一些分析师也担心美联储的行动可能过于缓慢。American Chemistry Council首席经济学家凯文•斯威夫特(KevinSwift)表示:“危险在于，货币当局跟不上形势。”“我并不是说恶性通货膨胀即将到来，只是说去年发生了很多事情，整体价格的增长趋势比过去5年或10年更快。”</p>\n<p>随着经济复苏的加快，上次公布的美国5月份消费者价格指数继续快速上涨，较上年同期飙升5%，创下近13年来的最高年通胀率，也反映出需求激增以及劳动力和材料短缺。</p>\n<p>价格上涨反映出，随着广泛接种疫苗、放宽商业限制、数万亿美元的联邦大流行救援计划和充足的家庭储蓄推动了强劲的消费者需求。经季节性因素调整后，美国第一季度国内生产总值(GDP)按年率计算增长6.4%。经济学家预计，第二季度美国经济折合成年率将增长8.1%，这将是上世纪80年代初以来经济增长最好的一年。</p>\n<p>政策制定者也非常关注最近的通胀数据。在疫情最严重时期的一年里，价格压力非常疲弱。随着美联储和其它一些政策制定者继续采取财政和货币政策措施支持经济后，通胀上升是否只是暂时的，是美国经济和金融市场的一个关键问题。</p>\n<p>美联储预计目前还是预计今年通货膨胀率将暂时上升。通货膨胀率的持续大幅上升可能迫使央行提前收紧其宽松货币政策，或者晚些时候采取更激进的应对措施，以实现2%的平均通货膨胀目标。</p>\n<p>美联储的通胀目标是基于美国商务部的个人消费支出价格指数，该指数往往略低于CPI。美联储曾表示，在个人消费支出(PCE)通胀率达到平均2%并实现充分就业之前，它将把利率维持在接近于零的水平。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/627bc890436e46f74a0fe8143398a725","relate_stocks":{"513500":"标普500ETF","DXD":"道指两倍做空ETF","OEF":"标普100指数ETF-iShares","UDOW":"道指三倍做多ETF-ProShares",".SPX":"S&P 500 Index","DDM":"道指两倍做多ETF",".DJI":"道琼斯","IVV":"标普500指数ETF","SPXU":"三倍做空标普500ETF","QID":"纳指两倍做空ETF","SSO":"两倍做多标普500ETF","SDOW":"道指三倍做空ETF-ProShares",".IXIC":"NASDAQ Composite","SPY":"标普500ETF","TQQQ":"纳指三倍做多ETF","QQQ":"纳指100ETF","SH":"标普500反向ETF"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126789765","content_text":"今晚美国公布的CPI数据至关重要，这个数据在一定程度上将显示近期的价格大幅上涨是一个暂时现象，还是通胀压力会更持久。如果今晚通胀超市场预期，那么美联储提前收紧预期可能又会卷土重来；反之市场对美联储收紧的恐慌会继续减弱。\n在过去的六个月里，美国消费者价格指数(CPI)几乎翻了三倍，从一月份的1.7%上升到五月份的5%。核心通胀从1.4%上升到3.8%。市场预计6月份CPI环比增幅将从5月份的0.6%和4月份的0.8%降至0.5%，并预计CPI年率将从5月份的5%降至4.9%。\n过去几个月，美联储成功地降低了市场对通胀的敏感性。这一努力始于去年9月美联储对未来政策引导采用了平均通胀率，并坚持认为当前的飙升是暂时的。但是有一个重要且尚未解决的问题是，疫情导致的经济问题造成会造成多少通胀?这个问题的答案在第四季度基数效应完全消失之前也许很难判断。\n市场一些经济学家认为疫情后强劲的经济复苏将在一段时间内推动物价快速上涨。他们认为，市场应该做好准备，迎接几十年来最高的通胀水平。如果经济学家的预测是正确的，美联储官员可能不得不提前或超过他们预期的上调利率，以控制通胀。\n一些调查显示经济学家认为从2021年到2023年通胀平均年增长率为2.58%，这个水平将达到1993年的水平。\"我们现在正处于一个过渡阶段，\" Naroff Economics LLC首席经济学家Joel Naroff说，\"我们正过渡到通胀率和利率高于过去20年的时期。\"\nGrant Thornton首席经济学家黛安•斯旺克(Diane Swonk)表示:“预计通胀飙升的时间会比美联储此前预计的更长。”“美联储现在可能会在2023年上半年加息，尽管一些美联储官员会尽快采取行动。”\n一些分析师也担心美联储的行动可能过于缓慢。American Chemistry Council首席经济学家凯文•斯威夫特(KevinSwift)表示:“危险在于，货币当局跟不上形势。”“我并不是说恶性通货膨胀即将到来，只是说去年发生了很多事情，整体价格的增长趋势比过去5年或10年更快。”\n随着经济复苏的加快，上次公布的美国5月份消费者价格指数继续快速上涨，较上年同期飙升5%，创下近13年来的最高年通胀率，也反映出需求激增以及劳动力和材料短缺。\n价格上涨反映出，随着广泛接种疫苗、放宽商业限制、数万亿美元的联邦大流行救援计划和充足的家庭储蓄推动了强劲的消费者需求。经季节性因素调整后，美国第一季度国内生产总值(GDP)按年率计算增长6.4%。经济学家预计，第二季度美国经济折合成年率将增长8.1%，这将是上世纪80年代初以来经济增长最好的一年。\n政策制定者也非常关注最近的通胀数据。在疫情最严重时期的一年里，价格压力非常疲弱。随着美联储和其它一些政策制定者继续采取财政和货币政策措施支持经济后，通胀上升是否只是暂时的，是美国经济和金融市场的一个关键问题。\n美联储预计目前还是预计今年通货膨胀率将暂时上升。通货膨胀率的持续大幅上升可能迫使央行提前收紧其宽松货币政策，或者晚些时候采取更激进的应对措施，以实现2%的平均通货膨胀目标。\n美联储的通胀目标是基于美国商务部的个人消费支出价格指数，该指数往往略低于CPI。美联储曾表示，在个人消费支出(PCE)通胀率达到平均2%并实现充分就业之前，它将把利率维持在接近于零的水平。","news_type":1},"isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142447669,"gmtCreate":1626172312951,"gmtModify":1633929432712,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/142447669","repostId":"1129606632","repostType":4,"repost":{"id":"1129606632","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626170852,"share":"https://www.laohu8.com/m/news/1129606632?lang=&edition=full","pubTime":"2021-07-13 18:07","market":"us","language":"zh","title":"百事可乐Q2财报超预期，盘前涨近2%","url":"https://stock-news.laohu8.com/highlight/detail?id=1129606632","media":"老虎资讯综合","summary":"7月13日美股盘前，百事可乐公布2021年第二季度财报。财报显示，百事可乐Q2营收192.2亿美元，市场预期179.59亿美元，去年同期159.45亿美元；净利润23.58亿美元，市场预期21.12亿","content":"<p>7月13日美股盘前，<a href=\"https://laohu8.com/S/PEP\">百事可乐</a>公布2021年第二季度财报。财报显示，百事可乐Q2营收192.2亿美元，市场预期179.59亿美元，去年同期159.45亿美元；净利润23.58亿美元，市场预期21.12亿美元，去年同期16.46亿美元；每股盈利1.7美元，市场预期1.52美元，去年同期1.18美元；预计2021财年有机营收将增长6%。</p>\n<p><img src=\"https://static.tigerbbs.com/01ce274cdc1fe7015a8e11ef8d4d2fc3\" tg-width=\"896\" tg-height=\"380\"></p>\n<p>财报公布后，百事可乐盘前涨近2%。</p>\n<p><img src=\"https://static.tigerbbs.com/cae80f9ef9b26887ae4d099f25d7f501\" tg-width=\"899\" tg-height=\"640\" referrerpolicy=\"no-referrer\"></p>\n<p></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>百事可乐Q2财报超预期，盘前涨近2%</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{ 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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\">\n百事可乐Q2财报超预期，盘前涨近2%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-07-13 18:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>7月13日美股盘前，<a href=\"https://laohu8.com/S/PEP\">百事可乐</a>公布2021年第二季度财报。财报显示，百事可乐Q2营收192.2亿美元，市场预期179.59亿美元，去年同期159.45亿美元；净利润23.58亿美元，市场预期21.12亿美元，去年同期16.46亿美元；每股盈利1.7美元，市场预期1.52美元，去年同期1.18美元；预计2021财年有机营收将增长6%。</p>\n<p><img src=\"https://static.tigerbbs.com/01ce274cdc1fe7015a8e11ef8d4d2fc3\" tg-width=\"896\" tg-height=\"380\"></p>\n<p>财报公布后，百事可乐盘前涨近2%。</p>\n<p><img src=\"https://static.tigerbbs.com/cae80f9ef9b26887ae4d099f25d7f501\" tg-width=\"899\" tg-height=\"640\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/da6f1eec5f0f1446b3ce577db826367e","relate_stocks":{"PEP":"百事可乐"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129606632","content_text":"7月13日美股盘前，百事可乐公布2021年第二季度财报。财报显示，百事可乐Q2营收192.2亿美元，市场预期179.59亿美元，去年同期159.45亿美元；净利润23.58亿美元，市场预期21.12亿美元，去年同期16.46亿美元；每股盈利1.7美元，市场预期1.52美元，去年同期1.18美元；预计2021财年有机营收将增长6%。\n\n财报公布后，百事可乐盘前涨近2%。","news_type":1},"isVote":1,"tweetType":1,"viewCount":330,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148460023,"gmtCreate":1626006077162,"gmtModify":1633930967906,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148460023","repostId":"1155854665","repostType":4,"isVote":1,"tweetType":1,"viewCount":163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148931389,"gmtCreate":1625912209441,"gmtModify":1633936150180,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148931389","repostId":"1124741749","repostType":4,"isVote":1,"tweetType":1,"viewCount":334,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":159714839,"gmtCreate":1624979993021,"gmtModify":1633946208228,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159714839","repostId":"2147343850","repostType":4,"isVote":1,"tweetType":1,"viewCount":10,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140153677,"gmtCreate":1625640217999,"gmtModify":1633938803249,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/140153677","repostId":"1120175170","repostType":4,"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152597418,"gmtCreate":1625307934234,"gmtModify":1633941564208,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/152597418","repostId":"1188153141","repostType":4,"repost":{"id":"1188153141","pubTimestamp":1625276221,"share":"https://www.laohu8.com/m/news/1188153141?lang=&edition=full","pubTime":"2021-07-03 09:37","market":"us","language":"en","title":"Suze Orman worries about a market crash — here's what you should do","url":"https://stock-news.laohu8.com/highlight/detail?id=1188153141","media":"MoneyWise","summary":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for th","content":"<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.</p>\n<p>That clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.</p>\n<p>And a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.</p>\n<p>Here’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.</p>\n<p><b>What does Suze Orman think?</b></p>\n<p><img src=\"https://static.tigerbbs.com/be8dc3ad363faad96bc575a22235562d\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Mediapunch/Shutterstock</p>\n<p>Suze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.</p>\n<p>“I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”</p>\n<p>While investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.</p>\n<p>And even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.</p>\n<p>What's more, she feels it’s just been too long since the last crash to stay this high much longer.</p>\n<p>“This reminds me of 2000 all over again,” Orman says.</p>\n<p><b>The Buffett Indicator</b></p>\n<p><img src=\"https://static.tigerbbs.com/44ada32ecadcc4581fed208f4f4e4d53\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Larry W Smith/EPA/Shutterstock</p>\n<p>One metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.</p>\n<p>But the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.</p>\n<p>And those in the know are wondering if it's a sign that we’re about to see a hard fall.</p>\n<p>How to prepare for a crash<img src=\"https://static.tigerbbs.com/1ad912a6b4611d9e39b46d2851c78c9e\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Freedomz / Shutterstock</p>\n<p>Orman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.</p>\n<p><b>1. Buy low</b></p>\n<p>Part of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.</p>\n<p>“All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”</p>\n<p>She points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.</p>\n<p>Because you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.</p>\n<p><b>2. Invest on a schedule</b></p>\n<p><img src=\"https://static.tigerbbs.com/e4102f8a6d5002090743b1cbded32ef9\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">katjen / Shutterstock</p>\n<p>While she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.</p>\n<p>She wants casual investors to not get caught up in the daily ups and downs of the market.</p>\n<p>In fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.</p>\n<p>“When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”</p>\n<p>She suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.</p>\n<p>This kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.</p>\n<p>There are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.</p>\n<p><b>3. Diversify with fractional shares</b></p>\n<p>To help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.</p>\n<p>Orman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.</p>\n<p>With the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.</p>\n<p>“The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”</p>\n<p>“And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”</p>\n<p><b>What else you can do</b></p>\n<p><img src=\"https://static.tigerbbs.com/5e79c6fd1f8fa6e3a7c3a6c94f1e14b5\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">goodluz / Shutterstock</p>\n<p>Whether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.</p>\n<p>First, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.</p>\n<p>Then, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.</p>\n<p>That will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.</p>\n<p>If you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.</p>\n<p>While everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.</p>","source":"lsy1621813427262","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>Suze Orman worries about a market crash — here's what you should do</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\">\nSuze Orman worries about a market crash — here's what you should do\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-03 09:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html><strong>MoneyWise</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.\nThat clash has worried investing experts, including Suze Orman, who's gone so far as to ...</p>\n\n<a href=\"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188153141","content_text":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.\nThat clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.\nAnd a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.\nHere’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.\nWhat does Suze Orman think?\nMediapunch/Shutterstock\nSuze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.\n“I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”\nWhile investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.\nAnd even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.\nWhat's more, she feels it’s just been too long since the last crash to stay this high much longer.\n“This reminds me of 2000 all over again,” Orman says.\nThe Buffett Indicator\nLarry W Smith/EPA/Shutterstock\nOne metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.\nBut the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.\nAnd those in the know are wondering if it's a sign that we’re about to see a hard fall.\nHow to prepare for a crashFreedomz / Shutterstock\nOrman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.\n1. Buy low\nPart of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.\n“All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”\nShe points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.\nBecause you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.\n2. Invest on a schedule\nkatjen / Shutterstock\nWhile she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.\nShe wants casual investors to not get caught up in the daily ups and downs of the market.\nIn fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.\n“When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”\nShe suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.\nThis kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.\nThere are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.\n3. Diversify with fractional shares\nTo help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.\nOrman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.\nWith the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.\n“The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”\n“And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”\nWhat else you can do\ngoodluz / Shutterstock\nWhether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.\nFirst, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.\nThen, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.\nThat will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.\nIf you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.\nWhile everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.","news_type":1},"isVote":1,"tweetType":1,"viewCount":21,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127433409,"gmtCreate":1624861789101,"gmtModify":1633947813463,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","listText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","text":"[财迷] [财迷] [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127433409","repostId":"2146007118","repostType":4,"repost":{"id":"2146007118","pubTimestamp":1624826996,"share":"https://www.laohu8.com/m/news/2146007118?lang=&edition=full","pubTime":"2021-06-28 04:49","market":"us","language":"en","title":"June jobs report, Consumer confidence: What to know this week","url":"https://stock-news.laohu8.com/highlight/detail?id=2146007118","media":"Yahoo Finance","summary":"This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 recovery for many Americans.On Friday, the Labor Department will release its June jobs report. The print is expected to show an acceleration in rehiring and a step lower in the unemployment rate, helping alleviate some of the labor shortages reported across the economy as of late.However, a confluence of ","content":"<p>This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 recovery for many Americans.</p>\n<p>On Friday, the Labor Department will release its June jobs report. The print is expected to show an acceleration in rehiring and a step lower in the unemployment rate, helping alleviate some of the labor shortages reported across the economy as of late.</p>\n<p>Non-farm payrolls likely grew by 700,000 in June, according to Bloomberg consensus data. This would accelerate from the 559,000 added back in May and mark the biggest rise since March. And the unemployment rate is expected to move down to 5.6% from 5.8% in May, bringing the jobless rate closer to its pre-pandemic, 50-year low of 3.5%.</p>\n<p>\"Payrolls probably surged again in June, with the pace up from the +559,000 in May,\" TD Securities strategists wrote in a note Friday. \"Some acceleration in the private sector is suggested by the Homebase data, while government payrolls probably benefited from fewer than usual end-of-school-year layoffs.\"</p>\n<p>Even with a sizable monthly payroll gain, the economy would still be well off its pre-pandemic levels of employment. Heading into June, the U.S. economy was still down by more than 7 million payrolls compared to February 2020, with the deficit most pronounced in high-contact services industries like restaurants and hotels.</p>\n<p>But both services and manufacturing companies have cited shortages of qualified workers to fill open positions, which hit a record high of over 9 million as of latest data. These supply-and-demand mismatches in the labor market – with shortages noted by firms from FedEx (FDX) to Yum Brands (YUM) — have also begun to push wages higher and created additional costs for businesses. In Friday's report, average hourly earnings are expected to jump 3.6% year-on-year for June, accelerating from May's 2% increase.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b881fe96eccc72cff61bf35b0dfa72fa\" tg-width=\"5210\" tg-height=\"3404\" referrerpolicy=\"no-referrer\"><span>SAN FRANCISCO, CALIFORNIA - JUNE 03: A pedestrian walks by a Now Hiring sign outside of a Lamps Plus store on June 03, 2021 in San Francisco, California. According to a U.S. Labor Department report, jobless claims fell for a fifth straight week to 385,000. (Photo by Justin Sullivan/Getty Images)Justin Sullivan via Getty Images</span></p>\n<p>\"Strong demand and weak supply should continue to put upward pressure on wages,\" Bank of America economist Michelle Meyer wrote in a note. \"Workers are quitting at a higher rate as they find better opportunities.\"</p>\n<p>However, a confluence of factors that have kept workers on the sidelines of the labor market may start to lessen in the coming months, some economists noted. Many have agreed that a combination of childcare concerns, fears of contracting COVID-19 and ongoing enhanced federal unemployment benefits have contributed to the still-elevated levels of joblessness, but that each of these should diminish as schools reopen, vaccinations continue and jobless benefits get phased out over the next several months.</p>\n<p>\"Labor supply may soon pick up,\" Meyer said. \"We find evidence of a quicker drop in unemployment insurance (UI) applications in states that discontinued generous federal UI benefits.\"</p>\n<p>\"Four states — Alaska, Iowa, Mississippi and Missouri — opted out in June 12 and UI applications in those states have fallen faster compared to other states, according to the latest initial jobless claims figures,\" she added. \"With another eight states opting out in the week ending June 19 and a total of 25 states by end of the summer, more workers should return to the workforce, helping to ease wage pressures and help meet the strong labor demand in the economy.\"</p>\n<h2>Consumer confidence</h2>\n<h2></h2>\n<p>Another closely watched economic data print this week will be the Conference Board's June consumer confidence index, which is expected to reflect a strong pick-up in sentiment during the recovery and heading into the summer. The report is due for release Tuesday morning.</p>\n<p>The headline index is likely to rise to 119.0 for June from 117.2 in May, according to Bloomberg consensus data. This would mark the highest level since February 2020's 132.6, which itself had been a near two-decade high.</p>\n<p>Like investors, consumers have begun to warm to the notion that inflationary pressures seen during the early stages of the economic recovery may prove transitory. This has helped raise consumers' future expectations for their spending power and boosted sentiment at large, according to other consumer sentiment surveys including the University of Michigan's Surveys of Consumers.</p>\n<p>Not only did year-ahead inflation expectations fall slightly to 4.2% in June from May's decade peak of 4.6%, consumers also believed that the price surges will mostly be temporary,\" Richard Curtin, chief economist for the Surveys of Consumers, said on Friday.</p>\n<p>\"When the pandemic first started, consumers were quite uncertain about their job and income prospects, but reported widespread declines in market prices for homes, vehicles, and household durables,\" he added. \"Those favorable price references have dropped to the most negative in a decade, and job and income prospects have improved, but not quite as favorable as in the last few years of the prior expansion.\"</p>\n<p>Still, in a sign of some downside risk in Tuesday's report from the Conference Board, the University of Michigan's June final sentiment index edged lower to 85.5, coming in below the 86.4 preliminary print, but still above May's reading of 82.9.</p>\n<h2>Economic Calendar</h2>\n<ul>\n <li><p><b>Monday: </b>Dallas Fed Manufacturing Activity Index, June (32.5 expected, 34.9 in May)</p></li>\n <li><p><b>Tuesday: </b>FHFA House Price Index, month-on-month, April (1.7% expected, 1.4% in March); S&amp;P <a href=\"https://laohu8.com/S/CLGX\">CoreLogic</a> Case-Shiller 20-City Composite index, month-over-month, April (1.80% expected, 1.60% in March); S&amp;P CoreLogic Case-Shiller 20-City Composite index, year-over-year, April (13.27% in March); Conference Board Consumer Confidence, June (119.0 expected, 117.2 in May)</p></li>\n <li><p><b>Wednesday: </b>MBA Mortgage Applications, week ended June 25 (2.1% during prior week); ADP Employment Change, June (575,000 expected, 978,000 in May); MNI Chicago PMI, June (70.0 expected, 75.2 in May); Pending home sales, month-over-month, May (-1.0% expected, -4.4% in April);</p></li>\n <li><p><b>Thursday: </b>Challenger Job Cuts, year-over-year, June (-93.8% in May); Initial jobless claims, week ended June 26 (380,000 expected, 411,000 during prior week); Continuing claims, week ended June 19 (3.39 million during prior week); <a href=\"https://laohu8.com/S/MRKT\">Markit</a> US Manufacturing PMI, June final (62.6 in prior print); Construction Spending month-over-month, May (0.5% expected 0.2% in April); ISM Manufacturing, June (61.0 expected, 61.2 in May)</p></li>\n <li><p><b>Friday: </b>Change in non-farm payrolls, June (700,000 expected, 559,000 in May); Unemployment rate, June (5.6% expected, 5.8% in May); Average hourly earnings year-over-year, June (3.6% expected, 2.0% in May); Average hourly earnings, month-over-month, June (0.4% expected, 0.5% in May); Trade balance, May (-$71.0 billion expected, -$68.9 billion in April); Factory orders, May (1.5% expected, -0.6% in April); Durable goods orders, May final (2.3% in prior print); Durable goods orders excluding transportation, May final (2.3% in prior print); Non-defense capital goods orders excluding aircraft, May final (-0.1% in April); Non-defense capital goods shipments excluding aircraft, May final (0.9% in prior print)</p></li>\n</ul>\n<h2>Earnings Calendar</h2>\n<ul>\n <li><p><b>Monday:</b> N/A</p></li>\n <li><p><b>Tuesday: </b>N/A</p></li>\n <li><p><b>Wednesday: </b>Constellation Brands (STZ), Bed Bath &amp; Beyond (BBBY), General Mills (GIS) before market open; Micron Technologies (MU) after market close</p></li>\n <li><p><b>Thursday: </b><a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a> (WBA) before market open</p></li>\n <li><p><b>Friday:</b> N/A</p></li>\n</ul>","source":"yahoofinance_au","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>June jobs report, Consumer confidence: What to know this week</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\">\nJune jobs report, Consumer confidence: What to know this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 04:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/june-jobs-report-consumer-confidence-what-to-know-this-week-204956329.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/june-jobs-report-consumer-confidence-what-to-know-this-week-204956329.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/june-jobs-report-consumer-confidence-what-to-know-this-week-204956329.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146007118","content_text":"This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 recovery for many Americans.\nOn Friday, the Labor Department will release its June jobs report. The print is expected to show an acceleration in rehiring and a step lower in the unemployment rate, helping alleviate some of the labor shortages reported across the economy as of late.\nNon-farm payrolls likely grew by 700,000 in June, according to Bloomberg consensus data. This would accelerate from the 559,000 added back in May and mark the biggest rise since March. And the unemployment rate is expected to move down to 5.6% from 5.8% in May, bringing the jobless rate closer to its pre-pandemic, 50-year low of 3.5%.\n\"Payrolls probably surged again in June, with the pace up from the +559,000 in May,\" TD Securities strategists wrote in a note Friday. \"Some acceleration in the private sector is suggested by the Homebase data, while government payrolls probably benefited from fewer than usual end-of-school-year layoffs.\"\nEven with a sizable monthly payroll gain, the economy would still be well off its pre-pandemic levels of employment. Heading into June, the U.S. economy was still down by more than 7 million payrolls compared to February 2020, with the deficit most pronounced in high-contact services industries like restaurants and hotels.\nBut both services and manufacturing companies have cited shortages of qualified workers to fill open positions, which hit a record high of over 9 million as of latest data. These supply-and-demand mismatches in the labor market – with shortages noted by firms from FedEx (FDX) to Yum Brands (YUM) — have also begun to push wages higher and created additional costs for businesses. In Friday's report, average hourly earnings are expected to jump 3.6% year-on-year for June, accelerating from May's 2% increase.\nSAN FRANCISCO, CALIFORNIA - JUNE 03: A pedestrian walks by a Now Hiring sign outside of a Lamps Plus store on June 03, 2021 in San Francisco, California. According to a U.S. Labor Department report, jobless claims fell for a fifth straight week to 385,000. (Photo by Justin Sullivan/Getty Images)Justin Sullivan via Getty Images\n\"Strong demand and weak supply should continue to put upward pressure on wages,\" Bank of America economist Michelle Meyer wrote in a note. \"Workers are quitting at a higher rate as they find better opportunities.\"\nHowever, a confluence of factors that have kept workers on the sidelines of the labor market may start to lessen in the coming months, some economists noted. Many have agreed that a combination of childcare concerns, fears of contracting COVID-19 and ongoing enhanced federal unemployment benefits have contributed to the still-elevated levels of joblessness, but that each of these should diminish as schools reopen, vaccinations continue and jobless benefits get phased out over the next several months.\n\"Labor supply may soon pick up,\" Meyer said. \"We find evidence of a quicker drop in unemployment insurance (UI) applications in states that discontinued generous federal UI benefits.\"\n\"Four states — Alaska, Iowa, Mississippi and Missouri — opted out in June 12 and UI applications in those states have fallen faster compared to other states, according to the latest initial jobless claims figures,\" she added. \"With another eight states opting out in the week ending June 19 and a total of 25 states by end of the summer, more workers should return to the workforce, helping to ease wage pressures and help meet the strong labor demand in the economy.\"\nConsumer confidence\n\nAnother closely watched economic data print this week will be the Conference Board's June consumer confidence index, which is expected to reflect a strong pick-up in sentiment during the recovery and heading into the summer. The report is due for release Tuesday morning.\nThe headline index is likely to rise to 119.0 for June from 117.2 in May, according to Bloomberg consensus data. This would mark the highest level since February 2020's 132.6, which itself had been a near two-decade high.\nLike investors, consumers have begun to warm to the notion that inflationary pressures seen during the early stages of the economic recovery may prove transitory. This has helped raise consumers' future expectations for their spending power and boosted sentiment at large, according to other consumer sentiment surveys including the University of Michigan's Surveys of Consumers.\nNot only did year-ahead inflation expectations fall slightly to 4.2% in June from May's decade peak of 4.6%, consumers also believed that the price surges will mostly be temporary,\" Richard Curtin, chief economist for the Surveys of Consumers, said on Friday.\n\"When the pandemic first started, consumers were quite uncertain about their job and income prospects, but reported widespread declines in market prices for homes, vehicles, and household durables,\" he added. \"Those favorable price references have dropped to the most negative in a decade, and job and income prospects have improved, but not quite as favorable as in the last few years of the prior expansion.\"\nStill, in a sign of some downside risk in Tuesday's report from the Conference Board, the University of Michigan's June final sentiment index edged lower to 85.5, coming in below the 86.4 preliminary print, but still above May's reading of 82.9.\nEconomic Calendar\n\nMonday: Dallas Fed Manufacturing Activity Index, June (32.5 expected, 34.9 in May)\nTuesday: FHFA House Price Index, month-on-month, April (1.7% expected, 1.4% in March); S&P CoreLogic Case-Shiller 20-City Composite index, month-over-month, April (1.80% expected, 1.60% in March); S&P CoreLogic Case-Shiller 20-City Composite index, year-over-year, April (13.27% in March); Conference Board Consumer Confidence, June (119.0 expected, 117.2 in May)\nWednesday: MBA Mortgage Applications, week ended June 25 (2.1% during prior week); ADP Employment Change, June (575,000 expected, 978,000 in May); MNI Chicago PMI, June (70.0 expected, 75.2 in May); Pending home sales, month-over-month, May (-1.0% expected, -4.4% in April);\nThursday: Challenger Job Cuts, year-over-year, June (-93.8% in May); Initial jobless claims, week ended June 26 (380,000 expected, 411,000 during prior week); Continuing claims, week ended June 19 (3.39 million during prior week); Markit US Manufacturing PMI, June final (62.6 in prior print); Construction Spending month-over-month, May (0.5% expected 0.2% in April); ISM Manufacturing, June (61.0 expected, 61.2 in May)\nFriday: Change in non-farm payrolls, June (700,000 expected, 559,000 in May); Unemployment rate, June (5.6% expected, 5.8% in May); Average hourly earnings year-over-year, June (3.6% expected, 2.0% in May); Average hourly earnings, month-over-month, June (0.4% expected, 0.5% in May); Trade balance, May (-$71.0 billion expected, -$68.9 billion in April); Factory orders, May (1.5% expected, -0.6% in April); Durable goods orders, May final (2.3% in prior print); Durable goods orders excluding transportation, May final (2.3% in prior print); Non-defense capital goods orders excluding aircraft, May final (-0.1% in April); Non-defense capital goods shipments excluding aircraft, May final (0.9% in prior print)\n\nEarnings Calendar\n\nMonday: N/A\nTuesday: N/A\nWednesday: Constellation Brands (STZ), Bed Bath & Beyond (BBBY), General Mills (GIS) before market open; Micron Technologies (MU) after market close\nThursday: Walgreens Boots Alliance (WBA) before market open\nFriday: N/A","news_type":1},"isVote":1,"tweetType":1,"viewCount":504,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":156344606,"gmtCreate":1625198747705,"gmtModify":1633942619626,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow..........","listText":"Wow..........","text":"Wow..........","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/156344606","repostId":"2148873174","repostType":4,"repost":{"id":"2148873174","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":1625197444,"share":"https://www.laohu8.com/m/news/2148873174?lang=&edition=full","pubTime":"2021-07-02 11:44","market":"us","language":"en","title":"Apple, Intel become first to adopt TSMC's latest chip tech - Nikkei","url":"https://stock-news.laohu8.com/highlight/detail?id=2148873174","media":"Reuters","summary":"July 2 (Reuters) - Apple Inc and Intel Corp will be the first adopters of Taiwan Semiconductor Manuf","content":"<p>July 2 (Reuters) - Apple Inc&nbsp;and Intel Corp&nbsp;will be the first adopters of Taiwan Semiconductor Manufacturing Co's next-generation chip production technology ahead of its deployment, possibly next year, Nikkei Asia reported on Friday.</p>\n<p>Apple and Intel are testing their chip designs with TSMC's 3-nanometer production technology, the report added, citing several sources briefed on the matter. Commercial output of such chips is expected to start in the second half of next year, Nikkei Asia said.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple, Intel become first to adopt TSMC's latest chip tech - Nikkei</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, Intel become first to adopt TSMC's latest chip tech - Nikkei\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\">2021-07-02 11:44</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>July 2 (Reuters) - Apple Inc&nbsp;and Intel Corp&nbsp;will be the first adopters of Taiwan Semiconductor Manufacturing Co's next-generation chip production technology ahead of its deployment, possibly next year, Nikkei Asia reported on Friday.</p>\n<p>Apple and Intel are testing their chip designs with TSMC's 3-nanometer production technology, the report added, citing several sources briefed on the matter. Commercial output of such chips is expected to start in the second half of next year, Nikkei Asia said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09086":"华夏纳指-U","AAPL":"苹果","INTC":"英特尔","03086":"华夏纳指"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2148873174","content_text":"July 2 (Reuters) - Apple Inc and Intel Corp will be the first adopters of Taiwan Semiconductor Manufacturing Co's next-generation chip production technology ahead of its deployment, possibly next year, Nikkei Asia reported on Friday.\nApple and Intel are testing their chip designs with TSMC's 3-nanometer production technology, the report added, citing several sources briefed on the matter. Commercial output of such chips is expected to start in the second half of next year, Nikkei Asia said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":28,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158082919,"gmtCreate":1625113825931,"gmtModify":1633944628408,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158082919","repostId":"1178516480","repostType":4,"repost":{"id":"1178516480","pubTimestamp":1625094708,"share":"https://www.laohu8.com/m/news/1178516480?lang=&edition=full","pubTime":"2021-07-01 07:11","market":"us","language":"en","title":"S&P 500 notches fifth straight record closing high, fifth straight quarterly gain","url":"https://stock-news.laohu8.com/highlight/detail?id=1178516480","media":"Reuters","summary":"NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as inves","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking toward Friday’s highly anticipated employment report.</p>\n<p>In the last session of 2021’s first half, the indexes were languid and range-bound, with the blue-chip Dow posting gains, while the Nasdaq edged lower.</p>\n<p>All three indexes posted their fifth consecutive quarterly gains, with the S&amp;P rising 8.2%, the Nasdaq advancing 9.5% and the Dow rising 4.6%. The S&amp;P 500 registered its second-best first-half performance since 1998, rising 14.5%.</p>\n<p>“It’s been a good quarter,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “As of last night’s close, the S&amp;P has gained more than 14% year-to-date, topping the Dow and the Nasdaq. That indicates that the stock market is having a broad rally.”</p>\n<p>For the month, the bellwether S&amp;P 500 notched its fifth consecutive advance, while the Dow snapped its four-month winning streak to end slightly lower. The Nasdaq also gained ground in June.</p>\n<p>This month, investor appetite shifted away from economically sensitive cyclicals in favor of growth stocks.</p>\n<p>“Leading sectors year-to-date are what you’d expect,” Pavlik added. “Energy, financials and industrials, and that speaks to an economic environment that’s in the early stages of a cycle.”</p>\n<p>“(Investors) started the switch back to growth (stocks) after people started to buy in to (Fed Chair Jerome) Powell’s comments that focus on transitory inflation,” Pavlik added.</p>\n<p>“Some of the reopening trades have gotten a bit long in the tooth and that’s leading people back to growth.”</p>\n<p>(Graphic: Growths stocks outperform value in June, narrow YTD gap, )</p>\n<p><img src=\"https://static.tigerbbs.com/5b82b4dfdc765d913811f9d8572e60f6\" tg-width=\"964\" tg-height=\"723\" referrerpolicy=\"no-referrer\">“The overall stock market continues to be on a tear, with very consistent gains for quite some time,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “Valuations, while certainly high by historical standards, have been at a fairly consistent level, benefiting from the economic recovery.”</p>\n<p>The private sector added 692,000 jobs in June, breezing past expectations, according to payroll processor ADP. The number is 92,000 higher than the private payroll adds economists predict from the Labor Department’s more comprehensive employment report due on Friday.</p>\n<p>The Dow Jones Industrial Average rose 210.22 points, or 0.61%, to 34,502.51, the S&amp;P 500 gained 5.7 points, or 0.13%, to 4,297.5 and the Nasdaq Composite dropped 24.38 points, or 0.17%, to 14,503.95.</p>\n<p>Among the 11 major sectors in the S&amp;P, six ended the session higher, with energy enjoying the biggest percentage gain. Real estate was the day’s biggest loser.</p>\n<p>Boeing Co gained 1.6% after Germany’s defense ministry announced it would buy five of the planemaker’s P-8A maritime control aircraft, coming on the heels of United Airlines unveiling its largest-ever order for new planes.</p>\n<p>Walmart jumped 2.7% after announcing on Tuesday that it would start selling a prescription-only insulin analog.</p>\n<p>Micron Technology advanced 2.5% ahead of its quarterly earnings release, but was relatively unchanged in after-hours trading following the chipmaker’s quarterly results.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.35-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 70 new highs and 36 new lows.</p>\n<p>Volume on U.S. exchanges was 10.85 billion shares, compared with the 11.05 billion average over the last 20 trading days.</p>","source":"lsy1601381805984","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>S&P 500 notches fifth straight record closing high, fifth straight quarterly gain</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\">\nS&P 500 notches fifth straight record closing high, fifth straight quarterly gain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-01 07:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking ...</p>\n\n<a href=\"https://www.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178516480","content_text":"NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking toward Friday’s highly anticipated employment report.\nIn the last session of 2021’s first half, the indexes were languid and range-bound, with the blue-chip Dow posting gains, while the Nasdaq edged lower.\nAll three indexes posted their fifth consecutive quarterly gains, with the S&P rising 8.2%, the Nasdaq advancing 9.5% and the Dow rising 4.6%. The S&P 500 registered its second-best first-half performance since 1998, rising 14.5%.\n“It’s been a good quarter,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “As of last night’s close, the S&P has gained more than 14% year-to-date, topping the Dow and the Nasdaq. That indicates that the stock market is having a broad rally.”\nFor the month, the bellwether S&P 500 notched its fifth consecutive advance, while the Dow snapped its four-month winning streak to end slightly lower. The Nasdaq also gained ground in June.\nThis month, investor appetite shifted away from economically sensitive cyclicals in favor of growth stocks.\n“Leading sectors year-to-date are what you’d expect,” Pavlik added. “Energy, financials and industrials, and that speaks to an economic environment that’s in the early stages of a cycle.”\n“(Investors) started the switch back to growth (stocks) after people started to buy in to (Fed Chair Jerome) Powell’s comments that focus on transitory inflation,” Pavlik added.\n“Some of the reopening trades have gotten a bit long in the tooth and that’s leading people back to growth.”\n(Graphic: Growths stocks outperform value in June, narrow YTD gap, )\n“The overall stock market continues to be on a tear, with very consistent gains for quite some time,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “Valuations, while certainly high by historical standards, have been at a fairly consistent level, benefiting from the economic recovery.”\nThe private sector added 692,000 jobs in June, breezing past expectations, according to payroll processor ADP. The number is 92,000 higher than the private payroll adds economists predict from the Labor Department’s more comprehensive employment report due on Friday.\nThe Dow Jones Industrial Average rose 210.22 points, or 0.61%, to 34,502.51, the S&P 500 gained 5.7 points, or 0.13%, to 4,297.5 and the Nasdaq Composite dropped 24.38 points, or 0.17%, to 14,503.95.\nAmong the 11 major sectors in the S&P, six ended the session higher, with energy enjoying the biggest percentage gain. Real estate was the day’s biggest loser.\nBoeing Co gained 1.6% after Germany’s defense ministry announced it would buy five of the planemaker’s P-8A maritime control aircraft, coming on the heels of United Airlines unveiling its largest-ever order for new planes.\nWalmart jumped 2.7% after announcing on Tuesday that it would start selling a prescription-only insulin analog.\nMicron Technology advanced 2.5% ahead of its quarterly earnings release, but was relatively unchanged in after-hours trading following the chipmaker’s quarterly results.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.35-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored decliners.\nThe S&P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 70 new highs and 36 new lows.\nVolume on U.S. exchanges was 10.85 billion shares, compared with the 11.05 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":16,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":869599925,"gmtCreate":1632300000067,"gmtModify":1632801405874,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>","listText":"Wow<a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>","text":"Wow$Palantir Technologies Inc.(PLTR)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/869599925","isVote":1,"tweetType":1,"viewCount":85,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147392987,"gmtCreate":1626332933349,"gmtModify":1633927775238,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/147392987","repostId":"1188379078","repostType":4,"isVote":1,"tweetType":1,"viewCount":232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158277023,"gmtCreate":1625153287062,"gmtModify":1633944173907,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158277023","repostId":"1199212665","repostType":4,"repost":{"id":"1199212665","pubTimestamp":1625146084,"share":"https://www.laohu8.com/m/news/1199212665?lang=&edition=full","pubTime":"2021-07-01 21:28","market":"us","language":"en","title":"3 Expensive Tech Stocks to Buy in the Next Market Crash","url":"https://stock-news.laohu8.com/highlight/detail?id=1199212665","media":"Motley Fool","summary":"Get ready to buy Snowflake and two other hot tech stocks if this frothy market collapses.","content":"<p>Many high-growth tech stocks have seen price pullbacks over the past few months, due to concerns about higher bond yields, inflation, and decelerating growth for companies that benefited from the pandemic.</p>\n<p>That sell-off created some buying opportunities -- but some of the sector's pricier names merely pulled back slightly, held onto their gains, or even rallied. That relative strength is admirable, but it's a bit frustrating for investors who don't want to pay the wrong price for the right company.</p>\n<p>That's why I'm making a shopping list of expensive tech stocks which I'd eagerly buy during the next market crash. Let's take a look at three of those companies:<b>Snowflake</b>(NYSE:SNOW),<b>Twilio</b>(NYSE:TWLO), and&nbsp;<b>CrowdStrike</b>(NASDAQ:CRWD).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fde232ce39d9cd52a01fd6ec018cae53\" tg-width=\"700\" tg-height=\"466\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p>\n<p><b>1. Snowflake</b></p>\n<p>Snowflake was one of the hottest tech IPOs of 2020, thanks to its jaw-dropping growth rates and big investments from&nbsp;<b>Berkshire Hathaway</b>&nbsp;and&nbsp;<b>salesforce.com</b>.</p>\n<p>Snowflake'scloud-baseddata warehouse pulls all of a company's data onto a single platform, where it can then be fed into third-party data visualization apps. Its service breaks down the silos between different departments and computing platforms, which makes it easier for large companies to make data-driven decisions.</p>\n<p>Snowflake's number of customers jumped 73% to 4,139 in fiscal 2021 (which ended this January), including 186 of the Fortune 500 companies. Its revenue surged 124% to $592 million, as its net retention rate -- which gauges its year-over-year revenue growth per existing customer -- hit 165%.</p>\n<p>That growth continued in the first quarter of 2022. Its revenue rose 110% year over year to $228.9 million, its number of customers increased 67% to 4,532, and it achieved a net retention rate of 168%.</p>\n<p>But Snowflake isn't profitable yet. ItsGAAPnet loss widened from $348.5 million in fiscal 2020 to $539.1 million in fiscal 2021, and<i>more than doubled</i>from $93.6 million to $203.2 million in the first quarter of 2022. It's also unprofitable on a non-GAAP basis, which excludes its stock-based compensation expenses.</p>\n<p>Analysts expect Snowflake's revenue to rise 88% this year, with a narrower loss. However, its stock still trades at 65 times this year's sales -- which indicates there's still far too much growth baked into the stock. But if Snowflake gets cut in half in a crash, I'd considerstarting a big position.</p>\n<p><b>2. Twilio</b></p>\n<p>Twilio's cloud platform processes text messages, calls, and videos within apps. For example, it helps&nbsp;<b>Lyft</b>'s passengers contact their drivers, and&nbsp;<b>Airbnb</b>'s guests reach their hosts.</p>\n<p>In the past, developers built those tools from scratch, which was generally time-consuming, buggy, and difficult to scale. However, developers can now outsource those features to Twilio's cloud service by simply adding a few lines of code to their apps.</p>\n<p>Twilio's revenue rose 55% to $1.76 billion in 2020. Its net expansion rate, which is comparable to Snowflake's net retention rate, reached 137%. In the first quarter of 2021, its revenue jumped 62% year over year to $590 million as it integrated its recent purchase of the customer data firm Segment.</p>\n<p>Twilio remains unprofitable on a GAAP basis, but its non-GAAP net income rose 62% to $35.9 million in 2020. In the first quarter of 2021, its non-GAAP net income rose another 15% to $9.6 million.</p>\n<p>Analysts expect its revenue to rise 44% this year, but for its non-GAAP earnings to dip into the red again amid higher investments and rising A2P (application-to-person) fees, which are now charged by carriers whenever an app accesses an SMS network.</p>\n<p>That near-term outlook doesn't look great for a stock that trades at nearly 30 times this year's sales. However, I still think Twilio has great growth potential, and I'd definitely buy its stock at a lower price.</p>\n<p><b>3. CrowdStrike</b></p>\n<p>CrowdStrike is a cybersecurity company that differs from its industry peers in one major way. Most cybersecurity companies install on-site appliances to support their services, which can be expensive to maintain and difficult to scale as an organization expands. CrowdStrike eliminates those appliances by offering its end-to-end security platform as a cloud-based service.</p>\n<p>CrowdStrike's growth clearly reflects its disruptive potential. Its revenue rose 82% to $874.4 million in fiscal 2021 (which ended this January), its number of subscription customers increased 82% to 9,896, and its net retention rate stayed above 120%.</p>\n<p>In the first quarter of fiscal 2022, its revenue rose 70% year over year to $302.8 million, its subscriber base expanded 82% year over year to 11,420, and it kept its retention rate above 120%.</p>\n<p>CrowdStrike also turned profitable on a non-GAAP basis in 2021, with a net profit of $62.6 million. Its non-GAAP net income rose more than fivefold year over year to $23.3 million in the first quarter of 2022.</p>\n<p>Those&nbsp;numbers are impressive, but CrowdStrike still trades at about 350 times forward earnings and more than 40 times this year's sales. Therefore, this is another stock I won't buy unless the market crashes.</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>3 Expensive Tech Stocks to Buy in the Next Market Crash</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\">\n3 Expensive Tech Stocks to Buy in the Next Market Crash\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-01 21:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/07/01/expensive-tech-stocks-to-buy-in-next-market-crash/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Many high-growth tech stocks have seen price pullbacks over the past few months, due to concerns about higher bond yields, inflation, and decelerating growth for companies that benefited from the ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/07/01/expensive-tech-stocks-to-buy-in-next-market-crash/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SNOW":"Snowflake","CRWD":"CrowdStrike Holdings, Inc.","TWLO":"Twilio Inc"},"source_url":"https://www.fool.com/investing/2021/07/01/expensive-tech-stocks-to-buy-in-next-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199212665","content_text":"Many high-growth tech stocks have seen price pullbacks over the past few months, due to concerns about higher bond yields, inflation, and decelerating growth for companies that benefited from the pandemic.\nThat sell-off created some buying opportunities -- but some of the sector's pricier names merely pulled back slightly, held onto their gains, or even rallied. That relative strength is admirable, but it's a bit frustrating for investors who don't want to pay the wrong price for the right company.\nThat's why I'm making a shopping list of expensive tech stocks which I'd eagerly buy during the next market crash. Let's take a look at three of those companies:Snowflake(NYSE:SNOW),Twilio(NYSE:TWLO), and CrowdStrike(NASDAQ:CRWD).\nIMAGE SOURCE: GETTY IMAGES.\n1. Snowflake\nSnowflake was one of the hottest tech IPOs of 2020, thanks to its jaw-dropping growth rates and big investments from Berkshire Hathaway and salesforce.com.\nSnowflake'scloud-baseddata warehouse pulls all of a company's data onto a single platform, where it can then be fed into third-party data visualization apps. Its service breaks down the silos between different departments and computing platforms, which makes it easier for large companies to make data-driven decisions.\nSnowflake's number of customers jumped 73% to 4,139 in fiscal 2021 (which ended this January), including 186 of the Fortune 500 companies. Its revenue surged 124% to $592 million, as its net retention rate -- which gauges its year-over-year revenue growth per existing customer -- hit 165%.\nThat growth continued in the first quarter of 2022. Its revenue rose 110% year over year to $228.9 million, its number of customers increased 67% to 4,532, and it achieved a net retention rate of 168%.\nBut Snowflake isn't profitable yet. ItsGAAPnet loss widened from $348.5 million in fiscal 2020 to $539.1 million in fiscal 2021, andmore than doubledfrom $93.6 million to $203.2 million in the first quarter of 2022. It's also unprofitable on a non-GAAP basis, which excludes its stock-based compensation expenses.\nAnalysts expect Snowflake's revenue to rise 88% this year, with a narrower loss. However, its stock still trades at 65 times this year's sales -- which indicates there's still far too much growth baked into the stock. But if Snowflake gets cut in half in a crash, I'd considerstarting a big position.\n2. Twilio\nTwilio's cloud platform processes text messages, calls, and videos within apps. For example, it helps Lyft's passengers contact their drivers, and Airbnb's guests reach their hosts.\nIn the past, developers built those tools from scratch, which was generally time-consuming, buggy, and difficult to scale. However, developers can now outsource those features to Twilio's cloud service by simply adding a few lines of code to their apps.\nTwilio's revenue rose 55% to $1.76 billion in 2020. Its net expansion rate, which is comparable to Snowflake's net retention rate, reached 137%. In the first quarter of 2021, its revenue jumped 62% year over year to $590 million as it integrated its recent purchase of the customer data firm Segment.\nTwilio remains unprofitable on a GAAP basis, but its non-GAAP net income rose 62% to $35.9 million in 2020. In the first quarter of 2021, its non-GAAP net income rose another 15% to $9.6 million.\nAnalysts expect its revenue to rise 44% this year, but for its non-GAAP earnings to dip into the red again amid higher investments and rising A2P (application-to-person) fees, which are now charged by carriers whenever an app accesses an SMS network.\nThat near-term outlook doesn't look great for a stock that trades at nearly 30 times this year's sales. However, I still think Twilio has great growth potential, and I'd definitely buy its stock at a lower price.\n3. CrowdStrike\nCrowdStrike is a cybersecurity company that differs from its industry peers in one major way. Most cybersecurity companies install on-site appliances to support their services, which can be expensive to maintain and difficult to scale as an organization expands. CrowdStrike eliminates those appliances by offering its end-to-end security platform as a cloud-based service.\nCrowdStrike's growth clearly reflects its disruptive potential. Its revenue rose 82% to $874.4 million in fiscal 2021 (which ended this January), its number of subscription customers increased 82% to 9,896, and its net retention rate stayed above 120%.\nIn the first quarter of fiscal 2022, its revenue rose 70% year over year to $302.8 million, its subscriber base expanded 82% year over year to 11,420, and it kept its retention rate above 120%.\nCrowdStrike also turned profitable on a non-GAAP basis in 2021, with a net profit of $62.6 million. Its non-GAAP net income rose more than fivefold year over year to $23.3 million in the first quarter of 2022.\nThose numbers are impressive, but CrowdStrike still trades at about 350 times forward earnings and more than 40 times this year's sales. Therefore, this is another stock I won't buy unless the market crashes.","news_type":1},"isVote":1,"tweetType":1,"viewCount":42,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158139633,"gmtCreate":1625134801522,"gmtModify":1633944424248,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Yes........","listText":"Yes........","text":"Yes........","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/158139633","repostId":"1106223449","repostType":4,"repost":{"id":"1106223449","pubTimestamp":1625122086,"share":"https://www.laohu8.com/m/news/1106223449?lang=&edition=full","pubTime":"2021-07-01 14:48","market":"us","language":"en","title":"The S&P 500 Notches Its Second-Best First Half Since the Dot-Com Bubble. What Comes Next.","url":"https://stock-news.laohu8.com/highlight/detail?id=1106223449","media":"Barrons","summary":"Since 1979, the S&P 500 has gained 10% or more 14 times during the first half of the year.\nThe S&P 5","content":"<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d70d0323609e9ce596a9a90e475422d1\" tg-width=\"1260\" tg-height=\"840\"><span>Since 1979, the S&amp;P 500 has gained 10% or more 14 times during the first half of the year.</span></p>\n<p>The S&amp;P 500 closed its second-best first half since the dot-com bubble. Don’t be surprised if the stock market keeps on rising.</p>\n<p>With June coming to an end, the S&amp;P 500 finished the first half of 2021 with a gain of 14.4%. Since 1998, only 2019’s 17.4% first-half surge has been larger.</p>\n<p>The market got a boost from Covid-19 vaccinations, which have helped the U.S. economy reopen, while trillions of dollars of fiscal stimulus have helped shore up demand. The gains continued even as concerns about inflation have increased speculation that the Federal Reserve would be forced to take steps to slow the economy.</p>\n<p>The combination of big gains and a more hawkish Fed have raised concerns that the market has become too complacent. If inflation continues to run hot for long enough, the central bank could be forced to act more quickly than the market expects—and&nbsp;cause stocks to tumble. Others worry that&nbsp;U.S. economic growth could slow faster than investors anticipate, causing a pullback in the process.</p>\n<p>For those who take that view, there is no better time to back away from the stock market than the present. History suggests otherwise.</p>\n<p>Since 1979, the S&amp;P 500 has gained 10% or more 14 times during the first half of the year, and the index has gone on to average a 6.3% gain over the second half of the year. What’s more, the index finished the second half of the year higher In 11 of those instances, or 79% of the time.</p>\n<p>Even the losses, when they occurred, weren’t all that bad. The S&amp;P 500 dropped 1.9% in the second half of 1983 and 3.5% during the last six months of 1986.</p>\n<p>The one exception was the last six months of 1987 when the index fell 19% during the second half of the year. That period included Black Monday, when the S&amp;P 500 dropped 20% in one day, still a record loss. While selling linked to so-called&nbsp;portfolio insurance&nbsp;was ultimately blamed for the size and speed of the loss, the second half of 1987 was&nbsp;a period of rising bond yields and high stock-market valuations, just like the first half of 2021.</p>\n<p>Still, the market has been acting like it wants to go higher, not lower. Pullbacks, a normal event in the midst of bull runs, have been mild in 2021, with the largest drops being less than 4%. “What the [S&amp;P 500] has done throughout 2021 is pick itself up when and where it has needed to, maintaining an uptrend all along,” writes Frank&nbsp;Cappelleri, chief market technician at Instinet.</p>\n<p>That 6.3% average second-half rise would push the S&amp;P 500’s full-year gain to around 23%. That would represent a “textbook [market] recovery” from a recession, says Fundstrat’s Tom Lee.</p>\n<p>For now, at least, the path of least resistance is higher.</p>\n<p><img src=\"https://static.tigerbbs.com/3cb229b2e05d59b9c126d464a7d771bb\" tg-width=\"958\" tg-height=\"647\"></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>The S&P 500 Notches Its Second-Best First Half Since the Dot-Com Bubble. What Comes Next.</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\">\nThe S&P 500 Notches Its Second-Best First Half Since the Dot-Com Bubble. What Comes Next.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-01 14:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/stock-market-futures-crash-gains-51625071996?mod=hp_LEAD_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Since 1979, the S&P 500 has gained 10% or more 14 times during the first half of the year.\nThe S&P 500 closed its second-best first half since the dot-com bubble. Don’t be surprised if the stock ...</p>\n\n<a href=\"https://www.barrons.com/articles/stock-market-futures-crash-gains-51625071996?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/stock-market-futures-crash-gains-51625071996?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106223449","content_text":"Since 1979, the S&P 500 has gained 10% or more 14 times during the first half of the year.\nThe S&P 500 closed its second-best first half since the dot-com bubble. Don’t be surprised if the stock market keeps on rising.\nWith June coming to an end, the S&P 500 finished the first half of 2021 with a gain of 14.4%. Since 1998, only 2019’s 17.4% first-half surge has been larger.\nThe market got a boost from Covid-19 vaccinations, which have helped the U.S. economy reopen, while trillions of dollars of fiscal stimulus have helped shore up demand. The gains continued even as concerns about inflation have increased speculation that the Federal Reserve would be forced to take steps to slow the economy.\nThe combination of big gains and a more hawkish Fed have raised concerns that the market has become too complacent. If inflation continues to run hot for long enough, the central bank could be forced to act more quickly than the market expects—and cause stocks to tumble. Others worry that U.S. economic growth could slow faster than investors anticipate, causing a pullback in the process.\nFor those who take that view, there is no better time to back away from the stock market than the present. History suggests otherwise.\nSince 1979, the S&P 500 has gained 10% or more 14 times during the first half of the year, and the index has gone on to average a 6.3% gain over the second half of the year. What’s more, the index finished the second half of the year higher In 11 of those instances, or 79% of the time.\nEven the losses, when they occurred, weren’t all that bad. The S&P 500 dropped 1.9% in the second half of 1983 and 3.5% during the last six months of 1986.\nThe one exception was the last six months of 1987 when the index fell 19% during the second half of the year. That period included Black Monday, when the S&P 500 dropped 20% in one day, still a record loss. While selling linked to so-called portfolio insurance was ultimately blamed for the size and speed of the loss, the second half of 1987 was a period of rising bond yields and high stock-market valuations, just like the first half of 2021.\nStill, the market has been acting like it wants to go higher, not lower. Pullbacks, a normal event in the midst of bull runs, have been mild in 2021, with the largest drops being less than 4%. “What the [S&P 500] has done throughout 2021 is pick itself up when and where it has needed to, maintaining an uptrend all along,” writes Frank Cappelleri, chief market technician at Instinet.\nThat 6.3% average second-half rise would push the S&P 500’s full-year gain to around 23%. That would represent a “textbook [market] recovery” from a recession, says Fundstrat’s Tom Lee.\nFor now, at least, the path of least resistance is higher.","news_type":1},"isVote":1,"tweetType":1,"viewCount":4,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127431135,"gmtCreate":1624861819727,"gmtModify":1633947813217,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"🤣🤣🤣","listText":"🤣🤣🤣","text":"🤣🤣🤣","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/127431135","repostId":"1163833569","repostType":4,"repost":{"id":"1163833569","pubTimestamp":1624860588,"share":"https://www.laohu8.com/m/news/1163833569?lang=&edition=full","pubTime":"2021-06-28 14:09","market":"us","language":"en","title":"Is Another Housing Bubble Building?","url":"https://stock-news.laohu8.com/highlight/detail?id=1163833569","media":"thestreet","summary":"The price of housing has dominated financial news recently. For renters, the price of an average apa","content":"<p>The price of housing has dominated financial news recently. For renters, the price of an average apartment takes up an ever-greater share of personal income every year. This is particularly true in big cities, where a one-bedroom apartment can often cost between $2,500 and $3,000.</p>\n<p>But the real headlines have been in the market for single-family housing. In many communities home prices have increased by between 30% and 50% in just the past two years. This has led median prices for a starter home over $280,000 nationwide, and to nearly $500,000 in the towns and suburbs near major cities.</p>\n<p>OnReal Money, contributor Doug Kass takes a quick aim at spiraling home prices. “We need more lower cost homes to ease the intense upward price pressures but we know how difficult it is right now to deliver enough of them. More than 10 years of underinvestment because of the Fed-induced housing boom and bust means we need a lot more homes,” he writes.</p>\n<p>“I have been warning that much higher home prices (and reduced affordability) would create a cyclical peak in residential real estate (homebuilder stocks have begun to roll over recently),” Kass says.</p>\n<p>Is another bubble building?</p>\n<p>While there’s no way of knowing, one warning sign is the ratio of house prices to incomes. Credit standards have remained tight, and banks haven’t weakened their standards on down payments. That isn’t necessarily a good thing though.</p>\n<p>One of the biggest causes behind the housing crash of 2008 was the growing degree to which people struggled to keep up with their own mortgages in a highly overheated market that had sent prices climbing.</p>\n<p>As Kass points out in his diary, today prices aren’t just climbing, they’re soaring. Compared to 2008, buyers now have to spend more of their income keeping up with the minimum mortgage it takes to buy even a small house. They have to lay out more of their savings on the down payment.</p>\n<p>The ratio of house prices-to-household income is higher than it was going into the Great Recession. That isn’t necessarily a warning sign. But it isn’t good, either.</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>Is Another Housing Bubble Building?</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 Another Housing Bubble Building?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 14:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/is-another-housing-bubble-building><strong>thestreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of housing has dominated financial news recently. For renters, the price of an average apartment takes up an ever-greater share of personal income every year. This is particularly true in ...</p>\n\n<a href=\"https://www.thestreet.com/investing/is-another-housing-bubble-building\">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.thestreet.com/investing/is-another-housing-bubble-building","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163833569","content_text":"The price of housing has dominated financial news recently. For renters, the price of an average apartment takes up an ever-greater share of personal income every year. This is particularly true in big cities, where a one-bedroom apartment can often cost between $2,500 and $3,000.\nBut the real headlines have been in the market for single-family housing. In many communities home prices have increased by between 30% and 50% in just the past two years. This has led median prices for a starter home over $280,000 nationwide, and to nearly $500,000 in the towns and suburbs near major cities.\nOnReal Money, contributor Doug Kass takes a quick aim at spiraling home prices. “We need more lower cost homes to ease the intense upward price pressures but we know how difficult it is right now to deliver enough of them. More than 10 years of underinvestment because of the Fed-induced housing boom and bust means we need a lot more homes,” he writes.\n“I have been warning that much higher home prices (and reduced affordability) would create a cyclical peak in residential real estate (homebuilder stocks have begun to roll over recently),” Kass says.\nIs another bubble building?\nWhile there’s no way of knowing, one warning sign is the ratio of house prices to incomes. Credit standards have remained tight, and banks haven’t weakened their standards on down payments. That isn’t necessarily a good thing though.\nOne of the biggest causes behind the housing crash of 2008 was the growing degree to which people struggled to keep up with their own mortgages in a highly overheated market that had sent prices climbing.\nAs Kass points out in his diary, today prices aren’t just climbing, they’re soaring. Compared to 2008, buyers now have to spend more of their income keeping up with the minimum mortgage it takes to buy even a small house. They have to lay out more of their savings on the down payment.\nThe ratio of house prices-to-household income is higher than it was going into the Great Recession. That isn’t necessarily a warning sign. But it isn’t good, either.","news_type":1},"isVote":1,"tweetType":1,"viewCount":147,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148460023,"gmtCreate":1626006077162,"gmtModify":1633930967906,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148460023","repostId":"1155854665","repostType":4,"isVote":1,"tweetType":1,"viewCount":163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129960152,"gmtCreate":1624351873376,"gmtModify":1634007397480,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"[财迷] [财迷] [财迷]","listText":"[财迷] [财迷] [财迷]","text":"[财迷] [财迷] [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/129960152","repostId":"2145793053","repostType":4,"repost":{"id":"2145793053","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":1624348519,"share":"https://www.laohu8.com/m/news/2145793053?lang=&edition=full","pubTime":"2021-06-22 15:55","market":"sh","language":"en","title":"China stocks close higher as banking, energy firms climb","url":"https://stock-news.laohu8.com/highlight/detail?id=2145793053","media":"Reuters","summary":"SHANGHAI, June 22 (Reuters) - China stocks ended higher on Tuesday, as banking stocks gained after B","content":"<p>SHANGHAI, June 22 (Reuters) - China stocks ended higher on Tuesday, as banking stocks gained after Beijing's reform measures and energy stocks were lifted by higher oil prices.</p>\n<p>However, weakness in digital currency-related firms due to regulatory curbs capped gains in the region.</p>\n<p>The blue-chip CSI300 index rose 0.6% to 5,122.16, while the Shanghai Composite Index closed up 0.8% at 3,557.41.</p>\n<p>Leading gains, the CSI300 banks index rose 1.6% as investors cheered the government's latest reform measures for the sector, while the CSI300 energy index&nbsp;climbed 2.3% on oil strength.</p>\n<p>China's reforms to the way banks calculate deposit rates will help ease pressure on banks' funding costs, although the impact on lenders and depositors will be limited, an industry body overseeing rates said on Monday.</p>\n<p>From Monday, China allowed banks to set ceilings on deposit rates by adding basis points to the benchmark rate, a shift from the previous practice of multiplying the benchmark rate, the Self-Disciplinary Mechanism for the Pricing of Market-Oriented Interest Rates said.</p>\n<p>Dual-listed energy giant Petrochina Co Ltd&nbsp;rose 5.3% and 5.9% in Shanghai and Hong Kong, respectively.</p>\n<p>China's central bank said on Monday it had recently summoned some banks and payment firms, including China Construction Bank and Alipay, urging them to crack down harder on cryptocurrency trading.</p>\n<p>That weighed on blockchain-related firms — Client Service International Inc , Beijing Philisense Technology Co Ltd and Verisilicon Microelectronics Shanghai Co Ltd— which fell between 3.8% and 5.9%.</p>\n<p>Around the region, MSCI's Asia ex-Japan stock index&nbsp;was gained 0.14% and Japan's Nikkei index&nbsp;closed up 3.12%.</p>\n<p>At 0715 GMT, the yuan was quoted at 6.4717 per U.S. dollar, 0.1% weaker than the previous close of 6.4653.</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>China stocks close higher as banking, energy firms climb</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\">\nChina stocks close higher as banking, energy firms climb\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\">2021-06-22 15:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SHANGHAI, June 22 (Reuters) - China stocks ended higher on Tuesday, as banking stocks gained after Beijing's reform measures and energy stocks were lifted by higher oil prices.</p>\n<p>However, weakness in digital currency-related firms due to regulatory curbs capped gains in the region.</p>\n<p>The blue-chip CSI300 index rose 0.6% to 5,122.16, while the Shanghai Composite Index closed up 0.8% at 3,557.41.</p>\n<p>Leading gains, the CSI300 banks index rose 1.6% as investors cheered the government's latest reform measures for the sector, while the CSI300 energy index&nbsp;climbed 2.3% on oil strength.</p>\n<p>China's reforms to the way banks calculate deposit rates will help ease pressure on banks' funding costs, although the impact on lenders and depositors will be limited, an industry body overseeing rates said on Monday.</p>\n<p>From Monday, China allowed banks to set ceilings on deposit rates by adding basis points to the benchmark rate, a shift from the previous practice of multiplying the benchmark rate, the Self-Disciplinary Mechanism for the Pricing of Market-Oriented Interest Rates said.</p>\n<p>Dual-listed energy giant Petrochina Co Ltd&nbsp;rose 5.3% and 5.9% in Shanghai and Hong Kong, respectively.</p>\n<p>China's central bank said on Monday it had recently summoned some banks and payment firms, including China Construction Bank and Alipay, urging them to crack down harder on cryptocurrency trading.</p>\n<p>That weighed on blockchain-related firms — Client Service International Inc , Beijing Philisense Technology Co Ltd and Verisilicon Microelectronics Shanghai Co Ltd— which fell between 3.8% and 5.9%.</p>\n<p>Around the region, MSCI's Asia ex-Japan stock index&nbsp;was gained 0.14% and Japan's Nikkei index&nbsp;closed up 3.12%.</p>\n<p>At 0715 GMT, the yuan was quoted at 6.4717 per U.S. dollar, 0.1% weaker than the previous close of 6.4653.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"000001.SH":"上证指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145793053","content_text":"SHANGHAI, June 22 (Reuters) - China stocks ended higher on Tuesday, as banking stocks gained after Beijing's reform measures and energy stocks were lifted by higher oil prices.\nHowever, weakness in digital currency-related firms due to regulatory curbs capped gains in the region.\nThe blue-chip CSI300 index rose 0.6% to 5,122.16, while the Shanghai Composite Index closed up 0.8% at 3,557.41.\nLeading gains, the CSI300 banks index rose 1.6% as investors cheered the government's latest reform measures for the sector, while the CSI300 energy index climbed 2.3% on oil strength.\nChina's reforms to the way banks calculate deposit rates will help ease pressure on banks' funding costs, although the impact on lenders and depositors will be limited, an industry body overseeing rates said on Monday.\nFrom Monday, China allowed banks to set ceilings on deposit rates by adding basis points to the benchmark rate, a shift from the previous practice of multiplying the benchmark rate, the Self-Disciplinary Mechanism for the Pricing of Market-Oriented Interest Rates said.\nDual-listed energy giant Petrochina Co Ltd rose 5.3% and 5.9% in Shanghai and Hong Kong, respectively.\nChina's central bank said on Monday it had recently summoned some banks and payment firms, including China Construction Bank and Alipay, urging them to crack down harder on cryptocurrency trading.\nThat weighed on blockchain-related firms — Client Service International Inc , Beijing Philisense Technology Co Ltd and Verisilicon Microelectronics Shanghai Co Ltd— which fell between 3.8% and 5.9%.\nAround the region, MSCI's Asia ex-Japan stock index was gained 0.14% and Japan's Nikkei index closed up 3.12%.\nAt 0715 GMT, the yuan was quoted at 6.4717 per U.S. dollar, 0.1% weaker than the previous close of 6.4653.","news_type":1},"isVote":1,"tweetType":1,"viewCount":421,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":833901749,"gmtCreate":1629193706981,"gmtModify":1631890211801,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"🙃🙃🙃","listText":"🙃🙃🙃","text":"🙃🙃🙃","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/833901749","repostId":"1110577100","repostType":4,"isVote":1,"tweetType":1,"viewCount":205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174402739,"gmtCreate":1627119420721,"gmtModify":1631890211894,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"🙃🙃🙃","listText":"🙃🙃🙃","text":"🙃🙃🙃","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/174402739","repostId":"1170350340","repostType":4,"isVote":1,"tweetType":1,"viewCount":342,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170198995,"gmtCreate":1626410014717,"gmtModify":1633926987579,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/170198995","repostId":"2151261135","repostType":2,"repost":{"id":"2151261135","pubTimestamp":1626409687,"share":"https://www.laohu8.com/m/news/2151261135?lang=&edition=full","pubTime":"2021-07-16 12:28","market":"us","language":"zh","title":"缺“芯”的拐点要来了？","url":"https://stock-news.laohu8.com/highlight/detail?id=2151261135","media":"华尔街见闻","summary":"销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气","content":"<p>销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气度的拐点。</p>\n<p><b>华尔街见闻·见智研究所通过分析半导体的周期来解答以下问题：缺芯何时缓解？当下是国产替代的机遇？预示危机的指标又是什么？</b></p>\n<h2>一、从供需错配到再平衡</h2>\n<p><b>1、为什么缺芯？</b></p>\n<p>缺芯缺产能的底层逻辑就是芯片的供给小于需求。从2021年开始全球半导体的供给进入瓶颈期，而伴随着下游需求的爆发式增长，导致半导体行业出现严重缺货的现象。</p>\n<p>国际半导体产业协会SEMI预测，今年是由于云端服务器笔记本电脑、游戏及医疗科技需求成长，5G、物联网汽车及人工智能快速发展，带动了产业的景气度。<b>这其中新能源车和物联网市场是两个增长最快速的变量，新能源车行业五年的复合增速高达41.53%，</b>而手机和电脑依旧是半导体需求端体量最大的，但预期近五年增速较新兴行业低很多。</p>\n<p><img src=\"https://static.tigerbbs.com/4b0897af5cb718219f5e303f10173b62\" tg-width=\"376\" tg-height=\"193\" referrerpolicy=\"no-referrer\"></p>\n<p><b>2、2022年缺芯将缓解?</b></p>\n<p><b>Gartner预测：全球半导体供应短缺将持续整个2021年，并在2022年第二季度恢复至正常水平，而基板产能限制可能会延长到2022年第四季度。</b>也就是说在此之前，半导体还会伴随着长时间的芯片短缺，涨价函依旧会接踵而至。</p>\n<p>从半导体的供需周期来看，在2021年下半年伴随着晶圆厂的设备安装，龙头厂商预期最快2022年开始才能够释放出新产能，这其中包括<a href=\"https://laohu8.com/S/UMC\">联电</a>、格芯、<a href=\"https://laohu8.com/S/SMI\">中芯国际</a>等晶圆代工厂，而<a href=\"https://laohu8.com/S/TSM\">台积电</a>的大批量产能预期在2023年后才能逐步落地，所以半导体行业还需要一个较长的时间周期才重新达到供需平衡。</p>\n<p><b>3、产业链延续涨价？</b></p>\n<p><b>因为供需的错配，产能的紧缺以及扩产带来的成本增加都会相继增加产品的溢价。</b>而涨价直接的好处是给了厂商定价权，出厂价格高了，企业的盈利能力会很大程度提高。但是有一点不能忽略：厂商处于产业链什么位置很关键。如果是处于生产加工的下游，那么原材料成本的提价也要考虑进去。在21年全球大多数晶圆厂、材料以及封测都相继提高了两成左右的价格，龙头厂的订单都排至了2022年。从今年6月份开始10多家厂商陆续发布下半年涨价函，<b>消息指出预计涨价将持续到2022年。</b></p>\n<p>台媒《经济日报》6月24日报道称，IC设计业者透露，明年初晶圆代工价格已经敲定，不仅联电8英寸和12英寸的晶圆代工价格续涨，晶圆代工龙头台积电也涨价，部分8英寸和12英寸制程价格上涨一到两成，<b>且12英寸制程涨幅高于8英寸。</b></p>\n<h2>二、全球扩张下的国产替代机遇</h2>\n<p>世界半导体贸易统计组织（WSTS）预测，2021年全球半导体市场增速将达19.7%， 2022年半导体市场将增长8.8%，连续两年创历史新高。</p>\n<p><b>Gartner预测：中国半导体企业到2025年市场的市场份额将从当下的15%提升至30%，近五年中国半导体将会快速渗透。</b></p>\n<p><b>全球晶圆厂最新扩建计划，中国是首位？</b>今年6月份国际半导体产业协会SEMI发布报告称2021-2022年全球半导体制造商新增29座晶圆厂，<b>分别于2021年建设19座，2022年再增加10座。</b></p>\n<p>从SEMI给出的数据来看，<b>中国大陆和台湾地区两年间增加的晶圆厂数量是全球首位，共计16座，</b>其次是美国4座，欧洲和中东一共增加3座，日本和韩国各两座。全部投产后，每月可生产260万片等效200mm晶圆。<b>考虑到新增的晶圆厂建设周期较长，预计从2023年开始新增晶圆厂开始大幅采购半导体设备。</b></p>\n<p><img src=\"https://static.tigerbbs.com/228b84b60813b81b51450594568779e2\" tg-width=\"724\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p>\n<p>那么国内半导体行业有存在怎样的机遇呢？华尔街见闻·见智研究所对四大行业的格局进行了分析。</p>\n<p><b>1、晶圆厂格局</b></p>\n<p><a href=\"https://laohu8.com/S/SMSN.UK\">三星</a>是全球市占率最大的晶圆厂，达到14.7%，折算约310万片/月的产能；其次是台积电市占率为13.1%，约270万片/月产能。美光和SK海力士位居第三、第四，市占率在9%左右，每家产能约为190万片/月。<a href=\"https://laohu8.com/S/688981\">中芯国际</a>的产能约为54万片/月，在全球排名前十二。（产能按8英寸折算）</p>\n<p>行业内5家最大的纯晶圆代工厂——台积电、联电、格芯、<a href=\"https://laohu8.com/S/00981\">中芯国际</a>和力晶（包括Nexchip）约占全球晶圆代工厂总产能的24％，行业集中度非常高。<b>国内晶圆厂预计21年新增的产能75万片/月（按 8 英寸折算），其中新增产能的前三位分别是长江存储、<a href=\"https://laohu8.com/S/01347\">华虹半导体</a>和中芯国际。</b></p>\n<p><b>2、设备厂格局</b></p>\n<p>从设备类型的市场占比情况来看，<b>前道晶圆制造设备占主要比重，高达80%，这其中主要包括刻蚀机、薄膜沉积设备和光刻机；其次封装和测试设备的占比比较小，分别为10%和8%。</b>前道晶圆设备龙头包括泛林半导体、TEL、<a href=\"https://laohu8.com/S/AMAT\">应用材料</a>、ASML几乎是垄断了全球九成的份额。</p>\n<p>在国内的公司中，<b>刻蚀机设备</b>主要是<a href=\"https://laohu8.com/S/002371\">北方华创</a>和中微半导体。两个公司目前是差异化的布局，不存在直接竞争关系。北方华创的优势在于长硅刻蚀和金属刻蚀，而<a href=\"https://laohu8.com/S/688012\">中微公司</a>的优势在于长介质刻蚀。</p>\n<p><b>沉积设备：</b>主要是北方华创和沈阳拓荆，两者在ALD和PVD方面存在一定程度的竞争，而在化学气相沉积方面只有沈阳拓荆在做，在今年7月12日沈阳拓荆在科创板IPO申请也已经获受理了。</p>\n<p><b>光刻设备：</b>上海微电子已经突破了光刻机90/65的技术节点；沈阳芯源突破涂胶显影机90/65的技术节点。</p>\n<p><b>3、封测厂格局</b></p>\n<p>全球封测市场中CR3占比约六成，集中度很高，日月光占比就达到三成以上，其次是安靠和<a href=\"https://laohu8.com/S/600584\">长电科技</a>约一成以上，<a href=\"https://laohu8.com/S/002156\">通富微电</a>位居第五，市占率约4.4%。长电科技背靠中芯国际，通富微电背靠<a href=\"https://laohu8.com/S/AMD\">AMD</a>。</p>\n<p><b>4、光刻胶格局</b></p>\n<p>半导体光刻胶主要分为四种类型，g线、i线、KrF线和ArF线。<b>就占比情况来看ArF线占比最大，约四成，其次是KrF线两成，g线和i线共计两成。</b></p>\n<p>光刻胶九成份额被外国龙头垄断，<b>今年由于日本信越化学的KrF光刻胶无限期断供，给国内公司很大的发展机遇，哪些厂商率先进入晶圆代工厂的生产线中，未来成长空间会非常大。</b></p>\n<p>ArF线：北京科华（现被<a href=\"https://laohu8.com/S/603650\">彤程新材</a>收购）、<a href=\"https://laohu8.com/S/300655\">晶瑞股份</a>正在研发中；<a href=\"https://laohu8.com/S/300346\">南大光电</a>通过客户认证。</p>\n<p>KrF线：北京科华、<a href=\"https://laohu8.com/S/300236\">上海新阳</a>已经实现量产，晶瑞股份已完成测试。</p>\n<p>g线/i线：<a href=\"https://laohu8.com/S/300576\">容大感光</a>产能扩建中，北京科华可供应。</p>\n<h2>三、产能过剩后的危机</h2>\n<p>随着未来五年内半导体产能的大量投放，而需求增速的逐渐放缓，伴随而来的是半导体产能过剩，高库存的情况，必然会导致半导体市场价格的下跌。<b>观测这一重要转折点要看什么？</b>通过复盘半导体的历史周期，华尔街见闻·见智研究所观察到<b>资本开支可作为预测拐点的领先指标。</b></p>\n<p>从历史规律来看，在资本开支大幅增长的一到两年后将会伴随半导体市场的大幅下跌。如1984年全球半导体行业资本开支增长106%，而后的第二年半导体市场下跌了17%。此后的四个周期也是出现相同的规律。直到2008年的下跌是由金融危机导致的，而后2010年资本开支出现大幅回升，达到107%，第二年半导体市场同样出现了暴跌。</p>\n<p><b>通过复盘历史得到非常重要的指标，那就是资本开始危险临界线。当资本开支增长超过40%的时候，通常预测未来会出现产能过剩和半导体增速下跌的情况。</b></p>\n<p><img src=\"https://static.tigerbbs.com/f918d3c3c08f3fdc0888508005f63b8d\" tg-width=\"674\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p>\n<p><b>危机来临了吗？</b></p>\n<p>根据IC Insights的预测来看，2021年半导体资本开支的增速预计在16%-23%之间。<b>总体上看半导体市场还处于景气周期中，目前没有达到产能过剩的临界点。但需要特别注意的是，台积电21年的资本开支增速同比达到74%，<a href=\"https://laohu8.com/S/INTC\">英特尔</a>资本开支同比增速达到37%，已经达到高水位线，而三星的资本开支几乎与去年齐平。</b></p>","source":"wallstreetcn_api","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>缺“芯”的拐点要来了？ </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\">\n缺“芯”的拐点要来了？ \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 12:28 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3635357><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气度的拐点。\n华尔街见闻·见智研究所通过分析半导体的周期来解答以下问题：缺芯何时缓解？当下是国产替代的机遇？预示危机的指标又是什么？\n一、从供需错配到再平衡\n1、为什么缺芯？\n缺芯缺产能的底层逻辑就是...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3635357\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/03e38a3a3c63bd5a9d8d8ca2d384d1c5","relate_stocks":{"00981":"中芯国际","TSM":"台积电"},"source_url":"https://wallstreetcn.com/articles/3635357","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151261135","content_text":"销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气度的拐点。\n华尔街见闻·见智研究所通过分析半导体的周期来解答以下问题：缺芯何时缓解？当下是国产替代的机遇？预示危机的指标又是什么？\n一、从供需错配到再平衡\n1、为什么缺芯？\n缺芯缺产能的底层逻辑就是芯片的供给小于需求。从2021年开始全球半导体的供给进入瓶颈期，而伴随着下游需求的爆发式增长，导致半导体行业出现严重缺货的现象。\n国际半导体产业协会SEMI预测，今年是由于云端服务器笔记本电脑、游戏及医疗科技需求成长，5G、物联网汽车及人工智能快速发展，带动了产业的景气度。这其中新能源车和物联网市场是两个增长最快速的变量，新能源车行业五年的复合增速高达41.53%，而手机和电脑依旧是半导体需求端体量最大的，但预期近五年增速较新兴行业低很多。\n\n2、2022年缺芯将缓解?\nGartner预测：全球半导体供应短缺将持续整个2021年，并在2022年第二季度恢复至正常水平，而基板产能限制可能会延长到2022年第四季度。也就是说在此之前，半导体还会伴随着长时间的芯片短缺，涨价函依旧会接踵而至。\n从半导体的供需周期来看，在2021年下半年伴随着晶圆厂的设备安装，龙头厂商预期最快2022年开始才能够释放出新产能，这其中包括联电、格芯、中芯国际等晶圆代工厂，而台积电的大批量产能预期在2023年后才能逐步落地，所以半导体行业还需要一个较长的时间周期才重新达到供需平衡。\n3、产业链延续涨价？\n因为供需的错配，产能的紧缺以及扩产带来的成本增加都会相继增加产品的溢价。而涨价直接的好处是给了厂商定价权，出厂价格高了，企业的盈利能力会很大程度提高。但是有一点不能忽略：厂商处于产业链什么位置很关键。如果是处于生产加工的下游，那么原材料成本的提价也要考虑进去。在21年全球大多数晶圆厂、材料以及封测都相继提高了两成左右的价格，龙头厂的订单都排至了2022年。从今年6月份开始10多家厂商陆续发布下半年涨价函，消息指出预计涨价将持续到2022年。\n台媒《经济日报》6月24日报道称，IC设计业者透露，明年初晶圆代工价格已经敲定，不仅联电8英寸和12英寸的晶圆代工价格续涨，晶圆代工龙头台积电也涨价，部分8英寸和12英寸制程价格上涨一到两成，且12英寸制程涨幅高于8英寸。\n二、全球扩张下的国产替代机遇\n世界半导体贸易统计组织（WSTS）预测，2021年全球半导体市场增速将达19.7%， 2022年半导体市场将增长8.8%，连续两年创历史新高。\nGartner预测：中国半导体企业到2025年市场的市场份额将从当下的15%提升至30%，近五年中国半导体将会快速渗透。\n全球晶圆厂最新扩建计划，中国是首位？今年6月份国际半导体产业协会SEMI发布报告称2021-2022年全球半导体制造商新增29座晶圆厂，分别于2021年建设19座，2022年再增加10座。\n从SEMI给出的数据来看，中国大陆和台湾地区两年间增加的晶圆厂数量是全球首位，共计16座，其次是美国4座，欧洲和中东一共增加3座，日本和韩国各两座。全部投产后，每月可生产260万片等效200mm晶圆。考虑到新增的晶圆厂建设周期较长，预计从2023年开始新增晶圆厂开始大幅采购半导体设备。\n\n那么国内半导体行业有存在怎样的机遇呢？华尔街见闻·见智研究所对四大行业的格局进行了分析。\n1、晶圆厂格局\n三星是全球市占率最大的晶圆厂，达到14.7%，折算约310万片/月的产能；其次是台积电市占率为13.1%，约270万片/月产能。美光和SK海力士位居第三、第四，市占率在9%左右，每家产能约为190万片/月。中芯国际的产能约为54万片/月，在全球排名前十二。（产能按8英寸折算）\n行业内5家最大的纯晶圆代工厂——台积电、联电、格芯、中芯国际和力晶（包括Nexchip）约占全球晶圆代工厂总产能的24％，行业集中度非常高。国内晶圆厂预计21年新增的产能75万片/月（按 8 英寸折算），其中新增产能的前三位分别是长江存储、华虹半导体和中芯国际。\n2、设备厂格局\n从设备类型的市场占比情况来看，前道晶圆制造设备占主要比重，高达80%，这其中主要包括刻蚀机、薄膜沉积设备和光刻机；其次封装和测试设备的占比比较小，分别为10%和8%。前道晶圆设备龙头包括泛林半导体、TEL、应用材料、ASML几乎是垄断了全球九成的份额。\n在国内的公司中，刻蚀机设备主要是北方华创和中微半导体。两个公司目前是差异化的布局，不存在直接竞争关系。北方华创的优势在于长硅刻蚀和金属刻蚀，而中微公司的优势在于长介质刻蚀。\n沉积设备：主要是北方华创和沈阳拓荆，两者在ALD和PVD方面存在一定程度的竞争，而在化学气相沉积方面只有沈阳拓荆在做，在今年7月12日沈阳拓荆在科创板IPO申请也已经获受理了。\n光刻设备：上海微电子已经突破了光刻机90/65的技术节点；沈阳芯源突破涂胶显影机90/65的技术节点。\n3、封测厂格局\n全球封测市场中CR3占比约六成，集中度很高，日月光占比就达到三成以上，其次是安靠和长电科技约一成以上，通富微电位居第五，市占率约4.4%。长电科技背靠中芯国际，通富微电背靠AMD。\n4、光刻胶格局\n半导体光刻胶主要分为四种类型，g线、i线、KrF线和ArF线。就占比情况来看ArF线占比最大，约四成，其次是KrF线两成，g线和i线共计两成。\n光刻胶九成份额被外国龙头垄断，今年由于日本信越化学的KrF光刻胶无限期断供，给国内公司很大的发展机遇，哪些厂商率先进入晶圆代工厂的生产线中，未来成长空间会非常大。\nArF线：北京科华（现被彤程新材收购）、晶瑞股份正在研发中；南大光电通过客户认证。\nKrF线：北京科华、上海新阳已经实现量产，晶瑞股份已完成测试。\ng线/i线：容大感光产能扩建中，北京科华可供应。\n三、产能过剩后的危机\n随着未来五年内半导体产能的大量投放，而需求增速的逐渐放缓，伴随而来的是半导体产能过剩，高库存的情况，必然会导致半导体市场价格的下跌。观测这一重要转折点要看什么？通过复盘半导体的历史周期，华尔街见闻·见智研究所观察到资本开支可作为预测拐点的领先指标。\n从历史规律来看，在资本开支大幅增长的一到两年后将会伴随半导体市场的大幅下跌。如1984年全球半导体行业资本开支增长106%，而后的第二年半导体市场下跌了17%。此后的四个周期也是出现相同的规律。直到2008年的下跌是由金融危机导致的，而后2010年资本开支出现大幅回升，达到107%，第二年半导体市场同样出现了暴跌。\n通过复盘历史得到非常重要的指标，那就是资本开始危险临界线。当资本开支增长超过40%的时候，通常预测未来会出现产能过剩和半导体增速下跌的情况。\n\n危机来临了吗？\n根据IC Insights的预测来看，2021年半导体资本开支的增速预计在16%-23%之间。总体上看半导体市场还处于景气周期中，目前没有达到产能过剩的临界点。但需要特别注意的是，台积电21年的资本开支增速同比达到74%，英特尔资本开支同比增速达到37%，已经达到高水位线，而三星的资本开支几乎与去年齐平。","news_type":1},"isVote":1,"tweetType":1,"viewCount":222,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170193924,"gmtCreate":1626409839768,"gmtModify":1633926989460,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/170193924","repostId":"2151261135","repostType":4,"repost":{"id":"2151261135","pubTimestamp":1626409687,"share":"https://www.laohu8.com/m/news/2151261135?lang=&edition=full","pubTime":"2021-07-16 12:28","market":"us","language":"zh","title":"缺“芯”的拐点要来了？","url":"https://stock-news.laohu8.com/highlight/detail?id=2151261135","media":"华尔街见闻","summary":"销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气","content":"<p>销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气度的拐点。</p>\n<p><b>华尔街见闻·见智研究所通过分析半导体的周期来解答以下问题：缺芯何时缓解？当下是国产替代的机遇？预示危机的指标又是什么？</b></p>\n<h2>一、从供需错配到再平衡</h2>\n<p><b>1、为什么缺芯？</b></p>\n<p>缺芯缺产能的底层逻辑就是芯片的供给小于需求。从2021年开始全球半导体的供给进入瓶颈期，而伴随着下游需求的爆发式增长，导致半导体行业出现严重缺货的现象。</p>\n<p>国际半导体产业协会SEMI预测，今年是由于云端服务器笔记本电脑、游戏及医疗科技需求成长，5G、物联网汽车及人工智能快速发展，带动了产业的景气度。<b>这其中新能源车和物联网市场是两个增长最快速的变量，新能源车行业五年的复合增速高达41.53%，</b>而手机和电脑依旧是半导体需求端体量最大的，但预期近五年增速较新兴行业低很多。</p>\n<p><img src=\"https://static.tigerbbs.com/4b0897af5cb718219f5e303f10173b62\" tg-width=\"376\" tg-height=\"193\" referrerpolicy=\"no-referrer\"></p>\n<p><b>2、2022年缺芯将缓解?</b></p>\n<p><b>Gartner预测：全球半导体供应短缺将持续整个2021年，并在2022年第二季度恢复至正常水平，而基板产能限制可能会延长到2022年第四季度。</b>也就是说在此之前，半导体还会伴随着长时间的芯片短缺，涨价函依旧会接踵而至。</p>\n<p>从半导体的供需周期来看，在2021年下半年伴随着晶圆厂的设备安装，龙头厂商预期最快2022年开始才能够释放出新产能，这其中包括<a href=\"https://laohu8.com/S/UMC\">联电</a>、格芯、<a href=\"https://laohu8.com/S/SMI\">中芯国际</a>等晶圆代工厂，而<a href=\"https://laohu8.com/S/TSM\">台积电</a>的大批量产能预期在2023年后才能逐步落地，所以半导体行业还需要一个较长的时间周期才重新达到供需平衡。</p>\n<p><b>3、产业链延续涨价？</b></p>\n<p><b>因为供需的错配，产能的紧缺以及扩产带来的成本增加都会相继增加产品的溢价。</b>而涨价直接的好处是给了厂商定价权，出厂价格高了，企业的盈利能力会很大程度提高。但是有一点不能忽略：厂商处于产业链什么位置很关键。如果是处于生产加工的下游，那么原材料成本的提价也要考虑进去。在21年全球大多数晶圆厂、材料以及封测都相继提高了两成左右的价格，龙头厂的订单都排至了2022年。从今年6月份开始10多家厂商陆续发布下半年涨价函，<b>消息指出预计涨价将持续到2022年。</b></p>\n<p>台媒《经济日报》6月24日报道称，IC设计业者透露，明年初晶圆代工价格已经敲定，不仅联电8英寸和12英寸的晶圆代工价格续涨，晶圆代工龙头台积电也涨价，部分8英寸和12英寸制程价格上涨一到两成，<b>且12英寸制程涨幅高于8英寸。</b></p>\n<h2>二、全球扩张下的国产替代机遇</h2>\n<p>世界半导体贸易统计组织（WSTS）预测，2021年全球半导体市场增速将达19.7%， 2022年半导体市场将增长8.8%，连续两年创历史新高。</p>\n<p><b>Gartner预测：中国半导体企业到2025年市场的市场份额将从当下的15%提升至30%，近五年中国半导体将会快速渗透。</b></p>\n<p><b>全球晶圆厂最新扩建计划，中国是首位？</b>今年6月份国际半导体产业协会SEMI发布报告称2021-2022年全球半导体制造商新增29座晶圆厂，<b>分别于2021年建设19座，2022年再增加10座。</b></p>\n<p>从SEMI给出的数据来看，<b>中国大陆和台湾地区两年间增加的晶圆厂数量是全球首位，共计16座，</b>其次是美国4座，欧洲和中东一共增加3座，日本和韩国各两座。全部投产后，每月可生产260万片等效200mm晶圆。<b>考虑到新增的晶圆厂建设周期较长，预计从2023年开始新增晶圆厂开始大幅采购半导体设备。</b></p>\n<p><img src=\"https://static.tigerbbs.com/228b84b60813b81b51450594568779e2\" tg-width=\"724\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p>\n<p>那么国内半导体行业有存在怎样的机遇呢？华尔街见闻·见智研究所对四大行业的格局进行了分析。</p>\n<p><b>1、晶圆厂格局</b></p>\n<p><a href=\"https://laohu8.com/S/SMSN.UK\">三星</a>是全球市占率最大的晶圆厂，达到14.7%，折算约310万片/月的产能；其次是台积电市占率为13.1%，约270万片/月产能。美光和SK海力士位居第三、第四，市占率在9%左右，每家产能约为190万片/月。<a href=\"https://laohu8.com/S/688981\">中芯国际</a>的产能约为54万片/月，在全球排名前十二。（产能按8英寸折算）</p>\n<p>行业内5家最大的纯晶圆代工厂——台积电、联电、格芯、<a href=\"https://laohu8.com/S/00981\">中芯国际</a>和力晶（包括Nexchip）约占全球晶圆代工厂总产能的24％，行业集中度非常高。<b>国内晶圆厂预计21年新增的产能75万片/月（按 8 英寸折算），其中新增产能的前三位分别是长江存储、<a href=\"https://laohu8.com/S/01347\">华虹半导体</a>和中芯国际。</b></p>\n<p><b>2、设备厂格局</b></p>\n<p>从设备类型的市场占比情况来看，<b>前道晶圆制造设备占主要比重，高达80%，这其中主要包括刻蚀机、薄膜沉积设备和光刻机；其次封装和测试设备的占比比较小，分别为10%和8%。</b>前道晶圆设备龙头包括泛林半导体、TEL、<a href=\"https://laohu8.com/S/AMAT\">应用材料</a>、ASML几乎是垄断了全球九成的份额。</p>\n<p>在国内的公司中，<b>刻蚀机设备</b>主要是<a href=\"https://laohu8.com/S/002371\">北方华创</a>和中微半导体。两个公司目前是差异化的布局，不存在直接竞争关系。北方华创的优势在于长硅刻蚀和金属刻蚀，而<a href=\"https://laohu8.com/S/688012\">中微公司</a>的优势在于长介质刻蚀。</p>\n<p><b>沉积设备：</b>主要是北方华创和沈阳拓荆，两者在ALD和PVD方面存在一定程度的竞争，而在化学气相沉积方面只有沈阳拓荆在做，在今年7月12日沈阳拓荆在科创板IPO申请也已经获受理了。</p>\n<p><b>光刻设备：</b>上海微电子已经突破了光刻机90/65的技术节点；沈阳芯源突破涂胶显影机90/65的技术节点。</p>\n<p><b>3、封测厂格局</b></p>\n<p>全球封测市场中CR3占比约六成，集中度很高，日月光占比就达到三成以上，其次是安靠和<a href=\"https://laohu8.com/S/600584\">长电科技</a>约一成以上，<a href=\"https://laohu8.com/S/002156\">通富微电</a>位居第五，市占率约4.4%。长电科技背靠中芯国际，通富微电背靠<a href=\"https://laohu8.com/S/AMD\">AMD</a>。</p>\n<p><b>4、光刻胶格局</b></p>\n<p>半导体光刻胶主要分为四种类型，g线、i线、KrF线和ArF线。<b>就占比情况来看ArF线占比最大，约四成，其次是KrF线两成，g线和i线共计两成。</b></p>\n<p>光刻胶九成份额被外国龙头垄断，<b>今年由于日本信越化学的KrF光刻胶无限期断供，给国内公司很大的发展机遇，哪些厂商率先进入晶圆代工厂的生产线中，未来成长空间会非常大。</b></p>\n<p>ArF线：北京科华（现被<a href=\"https://laohu8.com/S/603650\">彤程新材</a>收购）、<a href=\"https://laohu8.com/S/300655\">晶瑞股份</a>正在研发中；<a href=\"https://laohu8.com/S/300346\">南大光电</a>通过客户认证。</p>\n<p>KrF线：北京科华、<a href=\"https://laohu8.com/S/300236\">上海新阳</a>已经实现量产，晶瑞股份已完成测试。</p>\n<p>g线/i线：<a href=\"https://laohu8.com/S/300576\">容大感光</a>产能扩建中，北京科华可供应。</p>\n<h2>三、产能过剩后的危机</h2>\n<p>随着未来五年内半导体产能的大量投放，而需求增速的逐渐放缓，伴随而来的是半导体产能过剩，高库存的情况，必然会导致半导体市场价格的下跌。<b>观测这一重要转折点要看什么？</b>通过复盘半导体的历史周期，华尔街见闻·见智研究所观察到<b>资本开支可作为预测拐点的领先指标。</b></p>\n<p>从历史规律来看，在资本开支大幅增长的一到两年后将会伴随半导体市场的大幅下跌。如1984年全球半导体行业资本开支增长106%，而后的第二年半导体市场下跌了17%。此后的四个周期也是出现相同的规律。直到2008年的下跌是由金融危机导致的，而后2010年资本开支出现大幅回升，达到107%，第二年半导体市场同样出现了暴跌。</p>\n<p><b>通过复盘历史得到非常重要的指标，那就是资本开始危险临界线。当资本开支增长超过40%的时候，通常预测未来会出现产能过剩和半导体增速下跌的情况。</b></p>\n<p><img src=\"https://static.tigerbbs.com/f918d3c3c08f3fdc0888508005f63b8d\" tg-width=\"674\" tg-height=\"460\" referrerpolicy=\"no-referrer\"></p>\n<p><b>危机来临了吗？</b></p>\n<p>根据IC Insights的预测来看，2021年半导体资本开支的增速预计在16%-23%之间。<b>总体上看半导体市场还处于景气周期中，目前没有达到产能过剩的临界点。但需要特别注意的是，台积电21年的资本开支增速同比达到74%，<a href=\"https://laohu8.com/S/INTC\">英特尔</a>资本开支同比增速达到37%，已经达到高水位线，而三星的资本开支几乎与去年齐平。</b></p>","source":"wallstreetcn_api","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>缺“芯”的拐点要来了？ </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\">\n缺“芯”的拐点要来了？ \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 12:28 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3635357><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气度的拐点。\n华尔街见闻·见智研究所通过分析半导体的周期来解答以下问题：缺芯何时缓解？当下是国产替代的机遇？预示危机的指标又是什么？\n一、从供需错配到再平衡\n1、为什么缺芯？\n缺芯缺产能的底层逻辑就是...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3635357\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/03e38a3a3c63bd5a9d8d8ca2d384d1c5","relate_stocks":{"00981":"中芯国际","TSM":"台积电"},"source_url":"https://wallstreetcn.com/articles/3635357","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151261135","content_text":"销量暴涨的新能源车因为缺芯几乎要面临停工停产的危机，最近屡屡传出汽车厂商都有自己建设晶圆厂了念头了，全球的分析师都在关注半导体供需平衡与库存修正将在何时发生，更有一个指标历史上7次准确预言了半导体景气度的拐点。\n华尔街见闻·见智研究所通过分析半导体的周期来解答以下问题：缺芯何时缓解？当下是国产替代的机遇？预示危机的指标又是什么？\n一、从供需错配到再平衡\n1、为什么缺芯？\n缺芯缺产能的底层逻辑就是芯片的供给小于需求。从2021年开始全球半导体的供给进入瓶颈期，而伴随着下游需求的爆发式增长，导致半导体行业出现严重缺货的现象。\n国际半导体产业协会SEMI预测，今年是由于云端服务器笔记本电脑、游戏及医疗科技需求成长，5G、物联网汽车及人工智能快速发展，带动了产业的景气度。这其中新能源车和物联网市场是两个增长最快速的变量，新能源车行业五年的复合增速高达41.53%，而手机和电脑依旧是半导体需求端体量最大的，但预期近五年增速较新兴行业低很多。\n\n2、2022年缺芯将缓解?\nGartner预测：全球半导体供应短缺将持续整个2021年，并在2022年第二季度恢复至正常水平，而基板产能限制可能会延长到2022年第四季度。也就是说在此之前，半导体还会伴随着长时间的芯片短缺，涨价函依旧会接踵而至。\n从半导体的供需周期来看，在2021年下半年伴随着晶圆厂的设备安装，龙头厂商预期最快2022年开始才能够释放出新产能，这其中包括联电、格芯、中芯国际等晶圆代工厂，而台积电的大批量产能预期在2023年后才能逐步落地，所以半导体行业还需要一个较长的时间周期才重新达到供需平衡。\n3、产业链延续涨价？\n因为供需的错配，产能的紧缺以及扩产带来的成本增加都会相继增加产品的溢价。而涨价直接的好处是给了厂商定价权，出厂价格高了，企业的盈利能力会很大程度提高。但是有一点不能忽略：厂商处于产业链什么位置很关键。如果是处于生产加工的下游，那么原材料成本的提价也要考虑进去。在21年全球大多数晶圆厂、材料以及封测都相继提高了两成左右的价格，龙头厂的订单都排至了2022年。从今年6月份开始10多家厂商陆续发布下半年涨价函，消息指出预计涨价将持续到2022年。\n台媒《经济日报》6月24日报道称，IC设计业者透露，明年初晶圆代工价格已经敲定，不仅联电8英寸和12英寸的晶圆代工价格续涨，晶圆代工龙头台积电也涨价，部分8英寸和12英寸制程价格上涨一到两成，且12英寸制程涨幅高于8英寸。\n二、全球扩张下的国产替代机遇\n世界半导体贸易统计组织（WSTS）预测，2021年全球半导体市场增速将达19.7%， 2022年半导体市场将增长8.8%，连续两年创历史新高。\nGartner预测：中国半导体企业到2025年市场的市场份额将从当下的15%提升至30%，近五年中国半导体将会快速渗透。\n全球晶圆厂最新扩建计划，中国是首位？今年6月份国际半导体产业协会SEMI发布报告称2021-2022年全球半导体制造商新增29座晶圆厂，分别于2021年建设19座，2022年再增加10座。\n从SEMI给出的数据来看，中国大陆和台湾地区两年间增加的晶圆厂数量是全球首位，共计16座，其次是美国4座，欧洲和中东一共增加3座，日本和韩国各两座。全部投产后，每月可生产260万片等效200mm晶圆。考虑到新增的晶圆厂建设周期较长，预计从2023年开始新增晶圆厂开始大幅采购半导体设备。\n\n那么国内半导体行业有存在怎样的机遇呢？华尔街见闻·见智研究所对四大行业的格局进行了分析。\n1、晶圆厂格局\n三星是全球市占率最大的晶圆厂，达到14.7%，折算约310万片/月的产能；其次是台积电市占率为13.1%，约270万片/月产能。美光和SK海力士位居第三、第四，市占率在9%左右，每家产能约为190万片/月。中芯国际的产能约为54万片/月，在全球排名前十二。（产能按8英寸折算）\n行业内5家最大的纯晶圆代工厂——台积电、联电、格芯、中芯国际和力晶（包括Nexchip）约占全球晶圆代工厂总产能的24％，行业集中度非常高。国内晶圆厂预计21年新增的产能75万片/月（按 8 英寸折算），其中新增产能的前三位分别是长江存储、华虹半导体和中芯国际。\n2、设备厂格局\n从设备类型的市场占比情况来看，前道晶圆制造设备占主要比重，高达80%，这其中主要包括刻蚀机、薄膜沉积设备和光刻机；其次封装和测试设备的占比比较小，分别为10%和8%。前道晶圆设备龙头包括泛林半导体、TEL、应用材料、ASML几乎是垄断了全球九成的份额。\n在国内的公司中，刻蚀机设备主要是北方华创和中微半导体。两个公司目前是差异化的布局，不存在直接竞争关系。北方华创的优势在于长硅刻蚀和金属刻蚀，而中微公司的优势在于长介质刻蚀。\n沉积设备：主要是北方华创和沈阳拓荆，两者在ALD和PVD方面存在一定程度的竞争，而在化学气相沉积方面只有沈阳拓荆在做，在今年7月12日沈阳拓荆在科创板IPO申请也已经获受理了。\n光刻设备：上海微电子已经突破了光刻机90/65的技术节点；沈阳芯源突破涂胶显影机90/65的技术节点。\n3、封测厂格局\n全球封测市场中CR3占比约六成，集中度很高，日月光占比就达到三成以上，其次是安靠和长电科技约一成以上，通富微电位居第五，市占率约4.4%。长电科技背靠中芯国际，通富微电背靠AMD。\n4、光刻胶格局\n半导体光刻胶主要分为四种类型，g线、i线、KrF线和ArF线。就占比情况来看ArF线占比最大，约四成，其次是KrF线两成，g线和i线共计两成。\n光刻胶九成份额被外国龙头垄断，今年由于日本信越化学的KrF光刻胶无限期断供，给国内公司很大的发展机遇，哪些厂商率先进入晶圆代工厂的生产线中，未来成长空间会非常大。\nArF线：北京科华（现被彤程新材收购）、晶瑞股份正在研发中；南大光电通过客户认证。\nKrF线：北京科华、上海新阳已经实现量产，晶瑞股份已完成测试。\ng线/i线：容大感光产能扩建中，北京科华可供应。\n三、产能过剩后的危机\n随着未来五年内半导体产能的大量投放，而需求增速的逐渐放缓，伴随而来的是半导体产能过剩，高库存的情况，必然会导致半导体市场价格的下跌。观测这一重要转折点要看什么？通过复盘半导体的历史周期，华尔街见闻·见智研究所观察到资本开支可作为预测拐点的领先指标。\n从历史规律来看，在资本开支大幅增长的一到两年后将会伴随半导体市场的大幅下跌。如1984年全球半导体行业资本开支增长106%，而后的第二年半导体市场下跌了17%。此后的四个周期也是出现相同的规律。直到2008年的下跌是由金融危机导致的，而后2010年资本开支出现大幅回升，达到107%，第二年半导体市场同样出现了暴跌。\n通过复盘历史得到非常重要的指标，那就是资本开始危险临界线。当资本开支增长超过40%的时候，通常预测未来会出现产能过剩和半导体增速下跌的情况。\n\n危机来临了吗？\n根据IC Insights的预测来看，2021年半导体资本开支的增速预计在16%-23%之间。总体上看半导体市场还处于景气周期中，目前没有达到产能过剩的临界点。但需要特别注意的是，台积电21年的资本开支增速同比达到74%，英特尔资本开支同比增速达到37%，已经达到高水位线，而三星的资本开支几乎与去年齐平。","news_type":1},"isVote":1,"tweetType":1,"viewCount":180,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148931389,"gmtCreate":1625912209441,"gmtModify":1633936150180,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148931389","repostId":"1124741749","repostType":4,"isVote":1,"tweetType":1,"viewCount":334,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149694944,"gmtCreate":1625720329988,"gmtModify":1633938016514,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/149694944","repostId":"1155545983","repostType":4,"repost":{"id":"1155545983","pubTimestamp":1625720148,"share":"https://www.laohu8.com/m/news/1155545983?lang=&edition=full","pubTime":"2021-07-08 12:55","market":"sh","language":"zh","title":"上半年IPO盘点：A股95%上涨，港股募资翻倍，美股超7成下跌","url":"https://stock-news.laohu8.com/highlight/detail?id=1155545983","media":"亿欧网","summary":"320家中资企业全球资本市场征战。\n\n6月30日，奈雪的茶高调登陆港股，首日破发，当日收报17.12港元，较发行价跌13.54%，引发二级市场“骚动”。滴滴出行则低调在美国纽交所挂牌，当日盘中一度上涨","content":"<blockquote>\n 320家中资企业全球资本市场征战。\n</blockquote>\n<p>6月30日，奈雪的茶高调登陆港股，首日破发，当日收报17.12港元，较发行价跌13.54%，引发二级市场“骚动”。滴滴出行则低调在美国纽交所挂牌，当日盘中一度上涨28.6%，最后收于14.14美元，市值678亿美元。</p>\n<p>一高一低之间，上半年中资企业IPO热潮终于迎来完美收官。而这两家企业的上市表现，也多少成了这次IPO热潮的缩影——在资本市场里，总是有人高歌狂欢，也有人失望落寞。</p>\n<p>在全球经济稳步复苏的大背景之下，2021年全球IPO市场表现活跃。</p>\n<p>毕马威近期发布报告指出，上半年全球资本市场募资总额和上市总数分别为2100亿美元和1047家，较去年同期分别增长196%和134%。</p>\n<p><b>这其中，中国A股和中国香港市场贡献了关键力量。</b>截至6月23日，在IPO募资总额排名前五的证券交易所中，港交所以260亿美元位列第三，上交所以206亿美元排名第四，仅次于纳斯达克和纽交所。</p>\n<p>在这排名前四的交易所里，随处可见中资企业身影。<b>据亿欧EqualOcean统计，上半年IPO热潮中，共有320家中资企业在A股（245家）、港股（39家）、美股（36家）成功上市。</b></p>\n<p><b>A股：七成企业在科创板和创业板上市</b></p>\n<p><b>整体概况——IPO总数较去年翻倍</b></p>\n<p>2021年上半年，A股沪深两市共有245家企业上市，较2020年同期增加了126家，同比增长105.88%。首发募资总额达到2109.50亿元人民币，较2020年同期增长51.46%。</p>\n<p>从IPO数量和融资额度来看，在过去两年半，A股市场2021年上半年的表现仅次于2020年下半年。</p>\n<p><img src=\"https://static.tigerbbs.com/6a0572a4b80c984d8a1948c93e228acc\" tg-width=\"1080\" tg-height=\"646\" referrerpolicy=\"no-referrer\"></p>\n<p>对于这场中资企业IPO热潮的成因，市场普遍认为是<b>国内经济稳步复苏以及资本市场制度完善</b>带来的积极影响。</p>\n<p>德勤中国全国A股市场华东区合伙人赵海舟指出，上半年A股市场IPO较去年同期活跃主要是新证券法实施、创业板注册制改革带来的成果。</p>\n<p>由于注册制审核程序相对简单，可以有效加快企业上市进度，同时，注册制之下企业上市门槛相对较低，一些营收少、利润低甚至亏损的企业，也可以在其他条件满足的情况下在科创板完成上市。因而，科创板和创业板也成为了众多企业的上市首选。</p>\n<p>从上半年IPO的245家企业分布板块来看，科创板和创业板在推动企业进入资本市场方面发挥了关键作用。<b>在科创板和创业板上市的企业分别有86家和85家，合计171家，占IPO企业总数近七成（69.80%）；募集总额1235.57亿元，占比58.57%。</b></p>\n<p>值得一提的是，245家企业中，募资规模前十的企业有6家是在科创板和创业板上市。</p>\n<p><img src=\"https://static.tigerbbs.com/51729fa42b4afdd80142689e60d97a78\" tg-width=\"1080\" tg-height=\"849\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/ed0408c842328128cdbd7b8dc50cd270\" tg-width=\"1080\" tg-height=\"573\" referrerpolicy=\"no-referrer\"></p>\n<p>其实自2020年第三季度以来，科创板和创业板就成为企业A股IPO的主要发力板块。2020年Q3-2021年Q2，科创板和创业板IPO总数为118家，60家，69家和102家。占比分别为67.05%、59.41%、69.00%、70.34%。</p>\n<p><img src=\"https://static.tigerbbs.com/75e25c534d0a1bceae1c477e792df331\" tg-width=\"1080\" tg-height=\"922\" referrerpolicy=\"no-referrer\"></p>\n<p>其中，科创板更是从2019年6月13日正式开板以来就表现亮眼，至今年6月30日已迎来301家企业上市。</p>\n<p>2019年全年有70家公司登陆科创板，包括金山办公、传音控股、澜起科技、华熙生物等；2020年145家，包括中芯国际、福昕软件、寒武纪、华润微、凯赛生物等；2021年上半年86家，包括天能股份、中网软件、生益电子等。</p>\n<p>2020年第二季度以来，科创板上市企业数量在整个A股市场上市企业数量占比一直维持在30%-40%上下，已然成为我国资本市场的重要组成部分。</p>\n<p><img src=\"https://static.tigerbbs.com/e0a0f2f0a2c9de752697740e80f69462\" tg-width=\"1023\" tg-height=\"779\" referrerpolicy=\"no-referrer\"></p>\n<p>业内人士指出，科创板在上市条件更加多样化也更具包容性，发行定价环节也更加市场化，能够很好地适应不同类型、不同发展阶段科创企业的差异化融资需求。预计在下半年，科创板将持续保持活力，为整个A股市场贡献力量。</p>\n<p>国盛策略张启尧团队认为，随着市场资金由增量入场转向存量博弈，2021年下半年高增速是制胜关键，而眼下科创板就是A股增速最高的板块。</p>\n<p>另据德勤报告预计，下半年科创板和创业板均将会有180-210只的新股发行数量。其中，科创板融资额或达1300亿-1700亿元，创业板融资额或达1600亿-2000亿元。</p>\n<p><b>行业分布——食品饮料、医疗保健等板块态势见好</b></p>\n<p>亿欧EqualOcean统计发现，2021年上半年A股245家上市企业主要分布在<b>资本货物、材料II、技术硬件与设备</b>等领域。</p>\n<p>其中，资本货物的IPO数量和筹资额均列第一。该板块主要覆盖建筑与工程、工业机械、航天航空与国防、电气部件与设备等领域，包括天能股份、东威科技、科汇股份等共63家企业，IPO募资总额369.15亿元，占2021年上半年A股IPO募资总额17.50%。</p>\n<p>材料II板块覆盖多元化工、工业气体、建材等领域，包括联科科技、晶雪节能、江苏博云等共27家企业，募资总额160.56亿元，占比7.61%。</p>\n<p>技术硬件与设备板块覆盖电子元件、电子设备与仪器等领域，包括和辉光电、生益电子、达瑞电子等27家企业，募资总额267.66亿元，占比12.69%。</p>\n<p><img src=\"https://static.tigerbbs.com/532863e70d224c14b7a8113ab096afa8\" tg-width=\"1034\" tg-height=\"883\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/51d20aedb320b2e59a99f133d166c8e0\" tg-width=\"1021\" tg-height=\"883\" referrerpolicy=\"no-referrer\"></p>\n<p>2020年，A股食品、饮料与烟草，医疗保健设备与服务，制药、生物科技与生命科学，汽车与汽车零部件，耐用消费品服装等板块涨势喜人。尤其是食品、饮料与烟草板块，医疗保健设备与服务板块，年度涨幅分别达到77.01%和73.93%。</p>\n<p>今年上半年，上述相关板块的态势依然见好。</p>\n<p><b>食品、饮料与烟草板块共有15家企业IPO，募资总额达到143.49亿元，占比6.80%。</b>其中，东鹏饮料和立高食品截至6月30日，股价涨幅均超过400%。</p>\n<p><b>医疗保健与服务，制药、生物科技与生命科学</b>，也依然是备受资本关注的赛道。特别是在全球疫情肆虐的大背景下，更多资本进入推高相关企业市值。这两大赛道<b>共有18家上市企业，共募集资金141.04亿元，占A股IPO募资总额6.69%。</b></p>\n<p><b>企业表现——涨幅最高达1356.01%</b></p>\n<p><b>截至6月30日，2021年上半年在A股上市的245家企业中，95%的企业股价上涨。</b>其中，涨幅超100%共有137家，占比超过55.92%；涨幅超500%的企业有11家，占比4.50%。仅有12家企业出现股价下跌。</p>\n<p>在涨幅100%以上的137家企业中，来自创业板和科创板的企业共有108家，占比78.83%，在245家上市企业中占比44.08%。</p>\n<p>其中，6月23日登陆科创板的微纳科技上市以来涨幅高达1356.01%，该企业属于制药、生物科技与生命科学板块。该板块2021上半年有18家企业上市，其中有17家来自科创板，上市以来平均涨幅超281%。</p>\n<p><img src=\"https://static.tigerbbs.com/c221b7f2a7d818ce77684c3a47c51a9c\" tg-width=\"1020\" tg-height=\"883\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/644688fcab1b023fafd1dcfb1d51c4ae\" tg-width=\"1067\" tg-height=\"921\" referrerpolicy=\"no-referrer\"></p>\n<p>而上市以来股价跌幅前十的企业主要分布在沪深两市主板和创业板，仅一家企业聚石化学来自科创板。</p>\n<p>可见，<b>科创板与创业板上市企业整体表现较主板强。</b></p>\n<p><b>港股：中概股二次上市热潮持续</b></p>\n<p>2021年上半年港股市场IPO数量46家，同比下降22%；募资总额约2129.5亿港元，同比增长138%，创下历史新高。</p>\n<p>其中，<b>39家中资企业赴港上市，共募资2097.13亿港元，约合1817.063 亿人民币（按7月1日汇率）。</b>相比2020年同期的38家和约826亿元人民币，IPO数量基本持平，募资总额增长119.98%。</p>\n<p>综合IPO数量和首发募资总额来看，<b>制药、生物科技与生命科学</b>和<b>软件与服务</b>两大板块表现较突出，分别有7家和5家企业成功IPO，募得资金202.71亿港元和1024.84亿港元。</p>\n<p><img src=\"https://static.tigerbbs.com/431a49b8ff0d6098d54e99717216c2a0\" tg-width=\"1080\" tg-height=\"933\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/23ed6805ab60f06b4055dff26f680d2e\" tg-width=\"1080\" tg-height=\"933\" referrerpolicy=\"no-referrer\"></p>\n<p>在软件与服务赛道，快手、百度集团、哔哩哔哩、汽车之家4家企业募资规模在39家赴港上市中资企业中排名前十。<b>快手、百度集团、哔哩哔哩与京东物流，</b>还位列上半年全球融资规模前十榜单。</p>\n<p>这些巨头企业可观的募资额，推动了港股市场2021年上半年融资总额增长翻倍。</p>\n<p><img src=\"https://static.tigerbbs.com/e41f3c53b400ae5b3383da998081a9b6\" tg-width=\"1021\" tg-height=\"883\" referrerpolicy=\"no-referrer\"></p>\n<p>近年来的港股热潮，源于一系列利好新经济成分的改革措施。港交所在2018年4月修改了上市机制，接受个人股东同股不同权架构的公司在港上市之后，陆续迎来了小米、美团、阿里巴巴等新经济公司入驻。</p>\n<p>2020年香港市场出现中概股二次上市浪潮并延续至今。Wind数据统计显示，2020年港股IPO发行规模达到3975.28亿港元，仅次于美股和A股，排名全球第三；前十大IPO中，中概股回归公司占据6席。</p>\n<p>而今，越来越多巨头企业选择赴港二次上市，比如全球最大的旅游零售运营商、免税巨头中国中免。中国中免于6月28日发布公告称，公司已于6月25日向港交所递交招股书。</p>\n<p>毕马威中国合伙人朱雅仪预计，<b>未来几个季度，港股医疗保健、生命科学、物流和供应链、及金融科技等新经济板块，新股上市活动势头将维持强劲。</b></p>\n<p><b>美股：超7成IPO中概股股价下跌</b></p>\n<p>2021年上半年，中资企业赴美上市热情空前，IPO数量和募资额度都较去年同期大幅上涨。这是<b>2019年至今，赴美IPO中资企业数量最多、融资额最大的一个半年度。</b></p>\n<p>截至6月30日，今年上半年赴美IPO的中资企业共有36家，其中有23家登陆纳斯达克，13家在纽交所登陆。首发募资总额为136.62亿美元，约合833.1亿元人民币（按7月1日汇率）。</p>\n<p><img src=\"https://static.tigerbbs.com/3701e108f4e550347e3b116ca79250f4\" tg-width=\"1080\" tg-height=\"653\" referrerpolicy=\"no-referrer\"></p>\n<p>这些上市企业中不乏备受资本市场关注的明星企业。比如6月30日上市的国内出行巨头滴滴出行，汽车领域的满帮集团、图森未来等，生鲜电商平台叮咚买菜、每日优鲜，再往前还有BOSS直聘、水滴公司、电子烟巨头悦刻的母公司雾芯科技、知乎等。</p>\n<p>上述明星企业均位列2021年上半年中概股募资额前十。从行业分布来看，融资额前十主要集中在软件与服务行业，共有7家；食品、饮料与烟草，多元金融，零售业各1家。</p>\n<p><img src=\"https://static.tigerbbs.com/20cf6bf7560df89ae0e5891e6f7c7915\" tg-width=\"1080\" tg-height=\"574\" referrerpolicy=\"no-referrer\"></p>\n<p>从首发募资总额来看，排名前三的行业分别为<b>软件与服务，食品、饮料与烟草，零售业。</b>值得注意的是，食品、饮料与烟草行业仅有雾芯科技1家企业IPO，但其首发募资额高达13.98亿美元。</p>\n<p><img src=\"https://static.tigerbbs.com/7e1ce0323249135e57f22e0d7025eaf3\" tg-width=\"1080\" tg-height=\"922\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/470970f31dcf9aef7c957de60c5e3168\" tg-width=\"1080\" tg-height=\"922\" referrerpolicy=\"no-referrer\"></p>\n<p>从企业上市后股价表现来看，<b>截至6月30日，36家中概股中6家股价上涨、28家下跌（6月30日上市滴滴出行和普普文化未录得股价涨跌数据）。</b></p>\n<p>涨幅超50%的企业仅有3家，其中图森未来涨幅最大，为78.10%，其次是叮咚买菜62.84%，知乎59.53%。</p>\n<p>有16家企业下跌幅度超30%，包括5月7日上市的保险科技平台水滴公司（-33.20%）和跨境电商平台洋葱集团（-38.14%），1月份上市的雾芯科技（-70.42%）等。</p>\n<p>尽管中资企业赴美融资热情不减，但目前来看市场表现不尽如人意。眼下，国内加强对赴美上市企业存在的数据泄露风险的管控，也给下半年赴美上市的企业带来了更多的不确定因素。</p>\n<p><b>结语</b></p>\n<p>回顾上半年IPO热潮，中资企业在全球范围内的资本市场表现出强劲实力。<b>2021年上半年上市企业融资额全球前十的企业中，半数企业来自中国香港和内地。</b></p>\n<p><img src=\"https://static.tigerbbs.com/3ce3186d8fcfbc58b32caf953225e9b3\" tg-width=\"1080\" tg-height=\"573\" referrerpolicy=\"no-referrer\"></p>\n<p>展望2021年下半年，虽然美股由于监管加强存在较大不确定性，但A股和港股资本市场仍可期待。</p>\n<p>安永报告提到，截至6月21日，A股共有633家排队企业；其中科创板和创业板是上市的主力军，有55%的排队企业计划在创业板上市，23%的排队企业计划在科创板上市。</p>\n<p>德勤报告也指出，A股方面，随着科创板的稳定发行以及创业板的注册制改革， IPO数量会有较大增长，中小规模的制造和科技行业会在发行数量上处于领先。港股方面，预期2021年香港新股市场可融资超过4000亿港元，而中概股回港二次上市热潮仍将持续。</p>\n<p>*注：中资企业包括A股+美股中概股+港股中资股；其中，港股中资股包括H股、红筹股、中资民营股。</p>","source":"yow","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>上半年IPO盘点：A股95%上涨，港股募资翻倍，美股超7成下跌</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\">\n上半年IPO盘点：A股95%上涨，港股募资翻倍，美股超7成下跌\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-08 12:55 北京时间&nbsp;&nbsp;&nbsp;<a href=https://mp.weixin.qq.com/s/c7tv_xfpLn8IjfDer9tHpg><strong>亿欧网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>320家中资企业全球资本市场征战。\n\n6月30日，奈雪的茶高调登陆港股，首日破发，当日收报17.12港元，较发行价跌13.54%，引发二级市场“骚动”。滴滴出行则低调在美国纽交所挂牌，当日盘中一度上涨28.6%，最后收于14.14美元，市值678亿美元。\n一高一低之间，上半年中资企业IPO热潮终于迎来完美收官。而这两家企业的上市表现，也多少成了这次IPO热潮的缩影——在资本市场里，总是有人高歌狂欢...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/c7tv_xfpLn8IjfDer9tHpg\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/266ab84342c6ca65b538d0b42bc1dc4e","relate_stocks":{"399001":"深证成指","399006":"创业板指",".IXIC":"NASDAQ Composite","HSI":"恒生指数",".SPX":"S&P 500 Index","000001.SH":"上证指数",".DJI":"道琼斯"},"source_url":"https://mp.weixin.qq.com/s/c7tv_xfpLn8IjfDer9tHpg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155545983","content_text":"320家中资企业全球资本市场征战。\n\n6月30日，奈雪的茶高调登陆港股，首日破发，当日收报17.12港元，较发行价跌13.54%，引发二级市场“骚动”。滴滴出行则低调在美国纽交所挂牌，当日盘中一度上涨28.6%，最后收于14.14美元，市值678亿美元。\n一高一低之间，上半年中资企业IPO热潮终于迎来完美收官。而这两家企业的上市表现，也多少成了这次IPO热潮的缩影——在资本市场里，总是有人高歌狂欢，也有人失望落寞。\n在全球经济稳步复苏的大背景之下，2021年全球IPO市场表现活跃。\n毕马威近期发布报告指出，上半年全球资本市场募资总额和上市总数分别为2100亿美元和1047家，较去年同期分别增长196%和134%。\n这其中，中国A股和中国香港市场贡献了关键力量。截至6月23日，在IPO募资总额排名前五的证券交易所中，港交所以260亿美元位列第三，上交所以206亿美元排名第四，仅次于纳斯达克和纽交所。\n在这排名前四的交易所里，随处可见中资企业身影。据亿欧EqualOcean统计，上半年IPO热潮中，共有320家中资企业在A股（245家）、港股（39家）、美股（36家）成功上市。\nA股：七成企业在科创板和创业板上市\n整体概况——IPO总数较去年翻倍\n2021年上半年，A股沪深两市共有245家企业上市，较2020年同期增加了126家，同比增长105.88%。首发募资总额达到2109.50亿元人民币，较2020年同期增长51.46%。\n从IPO数量和融资额度来看，在过去两年半，A股市场2021年上半年的表现仅次于2020年下半年。\n\n对于这场中资企业IPO热潮的成因，市场普遍认为是国内经济稳步复苏以及资本市场制度完善带来的积极影响。\n德勤中国全国A股市场华东区合伙人赵海舟指出，上半年A股市场IPO较去年同期活跃主要是新证券法实施、创业板注册制改革带来的成果。\n由于注册制审核程序相对简单，可以有效加快企业上市进度，同时，注册制之下企业上市门槛相对较低，一些营收少、利润低甚至亏损的企业，也可以在其他条件满足的情况下在科创板完成上市。因而，科创板和创业板也成为了众多企业的上市首选。\n从上半年IPO的245家企业分布板块来看，科创板和创业板在推动企业进入资本市场方面发挥了关键作用。在科创板和创业板上市的企业分别有86家和85家，合计171家，占IPO企业总数近七成（69.80%）；募集总额1235.57亿元，占比58.57%。\n值得一提的是，245家企业中，募资规模前十的企业有6家是在科创板和创业板上市。\n\n\n其实自2020年第三季度以来，科创板和创业板就成为企业A股IPO的主要发力板块。2020年Q3-2021年Q2，科创板和创业板IPO总数为118家，60家，69家和102家。占比分别为67.05%、59.41%、69.00%、70.34%。\n\n其中，科创板更是从2019年6月13日正式开板以来就表现亮眼，至今年6月30日已迎来301家企业上市。\n2019年全年有70家公司登陆科创板，包括金山办公、传音控股、澜起科技、华熙生物等；2020年145家，包括中芯国际、福昕软件、寒武纪、华润微、凯赛生物等；2021年上半年86家，包括天能股份、中网软件、生益电子等。\n2020年第二季度以来，科创板上市企业数量在整个A股市场上市企业数量占比一直维持在30%-40%上下，已然成为我国资本市场的重要组成部分。\n\n业内人士指出，科创板在上市条件更加多样化也更具包容性，发行定价环节也更加市场化，能够很好地适应不同类型、不同发展阶段科创企业的差异化融资需求。预计在下半年，科创板将持续保持活力，为整个A股市场贡献力量。\n国盛策略张启尧团队认为，随着市场资金由增量入场转向存量博弈，2021年下半年高增速是制胜关键，而眼下科创板就是A股增速最高的板块。\n另据德勤报告预计，下半年科创板和创业板均将会有180-210只的新股发行数量。其中，科创板融资额或达1300亿-1700亿元，创业板融资额或达1600亿-2000亿元。\n行业分布——食品饮料、医疗保健等板块态势见好\n亿欧EqualOcean统计发现，2021年上半年A股245家上市企业主要分布在资本货物、材料II、技术硬件与设备等领域。\n其中，资本货物的IPO数量和筹资额均列第一。该板块主要覆盖建筑与工程、工业机械、航天航空与国防、电气部件与设备等领域，包括天能股份、东威科技、科汇股份等共63家企业，IPO募资总额369.15亿元，占2021年上半年A股IPO募资总额17.50%。\n材料II板块覆盖多元化工、工业气体、建材等领域，包括联科科技、晶雪节能、江苏博云等共27家企业，募资总额160.56亿元，占比7.61%。\n技术硬件与设备板块覆盖电子元件、电子设备与仪器等领域，包括和辉光电、生益电子、达瑞电子等27家企业，募资总额267.66亿元，占比12.69%。\n\n\n2020年，A股食品、饮料与烟草，医疗保健设备与服务，制药、生物科技与生命科学，汽车与汽车零部件，耐用消费品服装等板块涨势喜人。尤其是食品、饮料与烟草板块，医疗保健设备与服务板块，年度涨幅分别达到77.01%和73.93%。\n今年上半年，上述相关板块的态势依然见好。\n食品、饮料与烟草板块共有15家企业IPO，募资总额达到143.49亿元，占比6.80%。其中，东鹏饮料和立高食品截至6月30日，股价涨幅均超过400%。\n医疗保健与服务，制药、生物科技与生命科学，也依然是备受资本关注的赛道。特别是在全球疫情肆虐的大背景下，更多资本进入推高相关企业市值。这两大赛道共有18家上市企业，共募集资金141.04亿元，占A股IPO募资总额6.69%。\n企业表现——涨幅最高达1356.01%\n截至6月30日，2021年上半年在A股上市的245家企业中，95%的企业股价上涨。其中，涨幅超100%共有137家，占比超过55.92%；涨幅超500%的企业有11家，占比4.50%。仅有12家企业出现股价下跌。\n在涨幅100%以上的137家企业中，来自创业板和科创板的企业共有108家，占比78.83%，在245家上市企业中占比44.08%。\n其中，6月23日登陆科创板的微纳科技上市以来涨幅高达1356.01%，该企业属于制药、生物科技与生命科学板块。该板块2021上半年有18家企业上市，其中有17家来自科创板，上市以来平均涨幅超281%。\n\n\n而上市以来股价跌幅前十的企业主要分布在沪深两市主板和创业板，仅一家企业聚石化学来自科创板。\n可见，科创板与创业板上市企业整体表现较主板强。\n港股：中概股二次上市热潮持续\n2021年上半年港股市场IPO数量46家，同比下降22%；募资总额约2129.5亿港元，同比增长138%，创下历史新高。\n其中，39家中资企业赴港上市，共募资2097.13亿港元，约合1817.063 亿人民币（按7月1日汇率）。相比2020年同期的38家和约826亿元人民币，IPO数量基本持平，募资总额增长119.98%。\n综合IPO数量和首发募资总额来看，制药、生物科技与生命科学和软件与服务两大板块表现较突出，分别有7家和5家企业成功IPO，募得资金202.71亿港元和1024.84亿港元。\n\n\n在软件与服务赛道，快手、百度集团、哔哩哔哩、汽车之家4家企业募资规模在39家赴港上市中资企业中排名前十。快手、百度集团、哔哩哔哩与京东物流，还位列上半年全球融资规模前十榜单。\n这些巨头企业可观的募资额，推动了港股市场2021年上半年融资总额增长翻倍。\n\n近年来的港股热潮，源于一系列利好新经济成分的改革措施。港交所在2018年4月修改了上市机制，接受个人股东同股不同权架构的公司在港上市之后，陆续迎来了小米、美团、阿里巴巴等新经济公司入驻。\n2020年香港市场出现中概股二次上市浪潮并延续至今。Wind数据统计显示，2020年港股IPO发行规模达到3975.28亿港元，仅次于美股和A股，排名全球第三；前十大IPO中，中概股回归公司占据6席。\n而今，越来越多巨头企业选择赴港二次上市，比如全球最大的旅游零售运营商、免税巨头中国中免。中国中免于6月28日发布公告称，公司已于6月25日向港交所递交招股书。\n毕马威中国合伙人朱雅仪预计，未来几个季度，港股医疗保健、生命科学、物流和供应链、及金融科技等新经济板块，新股上市活动势头将维持强劲。\n美股：超7成IPO中概股股价下跌\n2021年上半年，中资企业赴美上市热情空前，IPO数量和募资额度都较去年同期大幅上涨。这是2019年至今，赴美IPO中资企业数量最多、融资额最大的一个半年度。\n截至6月30日，今年上半年赴美IPO的中资企业共有36家，其中有23家登陆纳斯达克，13家在纽交所登陆。首发募资总额为136.62亿美元，约合833.1亿元人民币（按7月1日汇率）。\n\n这些上市企业中不乏备受资本市场关注的明星企业。比如6月30日上市的国内出行巨头滴滴出行，汽车领域的满帮集团、图森未来等，生鲜电商平台叮咚买菜、每日优鲜，再往前还有BOSS直聘、水滴公司、电子烟巨头悦刻的母公司雾芯科技、知乎等。\n上述明星企业均位列2021年上半年中概股募资额前十。从行业分布来看，融资额前十主要集中在软件与服务行业，共有7家；食品、饮料与烟草，多元金融，零售业各1家。\n\n从首发募资总额来看，排名前三的行业分别为软件与服务，食品、饮料与烟草，零售业。值得注意的是，食品、饮料与烟草行业仅有雾芯科技1家企业IPO，但其首发募资额高达13.98亿美元。\n\n\n从企业上市后股价表现来看，截至6月30日，36家中概股中6家股价上涨、28家下跌（6月30日上市滴滴出行和普普文化未录得股价涨跌数据）。\n涨幅超50%的企业仅有3家，其中图森未来涨幅最大，为78.10%，其次是叮咚买菜62.84%，知乎59.53%。\n有16家企业下跌幅度超30%，包括5月7日上市的保险科技平台水滴公司（-33.20%）和跨境电商平台洋葱集团（-38.14%），1月份上市的雾芯科技（-70.42%）等。\n尽管中资企业赴美融资热情不减，但目前来看市场表现不尽如人意。眼下，国内加强对赴美上市企业存在的数据泄露风险的管控，也给下半年赴美上市的企业带来了更多的不确定因素。\n结语\n回顾上半年IPO热潮，中资企业在全球范围内的资本市场表现出强劲实力。2021年上半年上市企业融资额全球前十的企业中，半数企业来自中国香港和内地。\n\n展望2021年下半年，虽然美股由于监管加强存在较大不确定性，但A股和港股资本市场仍可期待。\n安永报告提到，截至6月21日，A股共有633家排队企业；其中科创板和创业板是上市的主力军，有55%的排队企业计划在创业板上市，23%的排队企业计划在科创板上市。\n德勤报告也指出，A股方面，随着科创板的稳定发行以及创业板的注册制改革， IPO数量会有较大增长，中小规模的制造和科技行业会在发行数量上处于领先。港股方面，预期2021年香港新股市场可融资超过4000亿港元，而中概股回港二次上市热潮仍将持续。\n*注：中资企业包括A股+美股中概股+港股中资股；其中，港股中资股包括H股、红筹股、中资民营股。","news_type":1},"isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156344949,"gmtCreate":1625198691581,"gmtModify":1633942619847,"author":{"id":"3569299384564621","authorId":"3569299384564621","name":"jamiengan","avatar":"https://static.tigerbbs.com/889f4395dbbcc2004e91811498c78b43","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569299384564621","authorIdStr":"3569299384564621"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/156344949","repostId":"1175817125","repostType":4,"repost":{"id":"1175817125","pubTimestamp":1625180880,"share":"https://www.laohu8.com/m/news/1175817125?lang=&edition=full","pubTime":"2021-07-02 07:08","market":"us","language":"en","title":"S&P 500 winning streak extends to sixth straight record close","url":"https://stock-news.laohu8.com/highlight/detail?id=1175817125","media":"Reuters","summary":"NEW YORK  - The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.Investors now eye Friday’s much-anticipated employment report.The bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.“Historical data shows if you have a strong first half, the second half of the year was ac","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.</p>\n<p>Investors now eye Friday’s much-anticipated employment report.</p>\n<p>The bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.</p>\n<p>“Historical data shows if you have a strong first half, the second half of the year was actually going even stronger,” said Ross Mayfield, investment strategy analyst with Baird Private Wealth.</p>\n<p>All three major U.S. stock indexes ended the session in positive territory, but a decline in tech shares - led by microchips - tempered the Nasdaq’s gain.</p>\n<p>The Philadelphia SE Semiconductor index slid 1.5%</p>\n<p>“For markets so far this year, boring is beautiful,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “Economic growth has been strong enough to support prices and many asset classes are trading with historically low volatility.”</p>\n<p>“It feels like investors left for the Fourth of July weekend about three months ago.”</p>\n<p>The ongoing worker shortage, attributed to federal emergency unemployment benefits, a childcare shortage and lingering pandemic fears, was a common theme in the day’s economic data.</p>\n<p>Jobless claims continued their downward trajectory according to the Labor Department, touching their lowest level since the pandemic shutdown, and a report from Challenger, Gray &amp; Christmas showed planned layoffs by U.S. firms were down 88% from last year, hitting a 21-year low.</p>\n<p>Activity at U.S. factories expanded at a slightly decelerated pace in June, according to the Institute for Supply Management’s (ISM) purchasing managers’ index (PMI), with the employment component dipping into contraction for the first time since November. The prices paid index, driven higher by the current demand/supply imbalance, soared to its highest level since 1979, according to ISM.</p>\n<p>“The employment and manufacturing data released today supported the idea of continued growth but at a decelerated rate,” Carter added.</p>\n<p>Friday’s hotly anticipated jobs report is expected to show payrolls growing by 700,000 and unemployment inching down to 5.7%. A robust upside surprise could lead the U.S. Federal Reserve to adjust its timetable for tapering its securities purchases and raising key interest rates.</p>\n<p>“Too-strong economic data could perversely be a bad thing for markets if it caused the Fed to raise rates faster than expected,” Carter said. “Weak employment data may actually be welcomed.”</p>\n<p>The Dow Jones Industrial Average rose 131.02 points, or 0.38%, to 34,633.53, the S&amp;P 500 gained 22.44 points, or 0.52%, to 4,319.94 and the Nasdaq Composite added 18.42 points, or 0.13%, to 14,522.38.</p>\n<p>Of the 11 major sectors in the S&amp;P 500, consumer staples was the sole loser, shedding 0.3%.</p>\n<p>Walgreens Boots Alliance Inc dropped 7.4% after it said it expects to administer fewer COVID-19 vaccine shots in the fourth quarter.</p>\n<p>Didi Global Inc jumped 16.0%, on its second day of trading as a U.S.-listed company.</p>\n<p>Micron Technology Inc slid by 5.7% following a report that Texas Instruments would buy Micron’s Lehi, Utah, factory for $900 million.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.78-to-1 ratio; on Nasdaq, a 1.32-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 78 new highs and 30 new lows.</p>\n<p>Volume on U.S. exchanges was 9.53 billion shares, compared with the 10.9 billion average over the last 20 trading days.</p>","source":"lsy1601381805984","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>S&P 500 winning streak extends to sixth straight record close</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\">\nS&P 500 winning streak extends to sixth straight record close\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-02 07:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-winning-streak-extends-to-sixth-straight-record-close-idUSL2N2OD332><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-winning-streak-extends-to-sixth-straight-record-close-idUSL2N2OD332\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-winning-streak-extends-to-sixth-straight-record-close-idUSL2N2OD332","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175817125","content_text":"NEW YORK (Reuters) - The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.\nInvestors now eye Friday’s much-anticipated employment report.\nThe bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.\n“Historical data shows if you have a strong first half, the second half of the year was actually going even stronger,” said Ross Mayfield, investment strategy analyst with Baird Private Wealth.\nAll three major U.S. stock indexes ended the session in positive territory, but a decline in tech shares - led by microchips - tempered the Nasdaq’s gain.\nThe Philadelphia SE Semiconductor index slid 1.5%\n“For markets so far this year, boring is beautiful,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “Economic growth has been strong enough to support prices and many asset classes are trading with historically low volatility.”\n“It feels like investors left for the Fourth of July weekend about three months ago.”\nThe ongoing worker shortage, attributed to federal emergency unemployment benefits, a childcare shortage and lingering pandemic fears, was a common theme in the day’s economic data.\nJobless claims continued their downward trajectory according to the Labor Department, touching their lowest level since the pandemic shutdown, and a report from Challenger, Gray & Christmas showed planned layoffs by U.S. firms were down 88% from last year, hitting a 21-year low.\nActivity at U.S. factories expanded at a slightly decelerated pace in June, according to the Institute for Supply Management’s (ISM) purchasing managers’ index (PMI), with the employment component dipping into contraction for the first time since November. The prices paid index, driven higher by the current demand/supply imbalance, soared to its highest level since 1979, according to ISM.\n“The employment and manufacturing data released today supported the idea of continued growth but at a decelerated rate,” Carter added.\nFriday’s hotly anticipated jobs report is expected to show payrolls growing by 700,000 and unemployment inching down to 5.7%. A robust upside surprise could lead the U.S. Federal Reserve to adjust its timetable for tapering its securities purchases and raising key interest rates.\n“Too-strong economic data could perversely be a bad thing for markets if it caused the Fed to raise rates faster than expected,” Carter said. “Weak employment data may actually be welcomed.”\nThe Dow Jones Industrial Average rose 131.02 points, or 0.38%, to 34,633.53, the S&P 500 gained 22.44 points, or 0.52%, to 4,319.94 and the Nasdaq Composite added 18.42 points, or 0.13%, to 14,522.38.\nOf the 11 major sectors in the S&P 500, consumer staples was the sole loser, shedding 0.3%.\nWalgreens Boots Alliance Inc dropped 7.4% after it said it expects to administer fewer COVID-19 vaccine shots in the fourth quarter.\nDidi Global Inc jumped 16.0%, on its second day of trading as a U.S.-listed company.\nMicron Technology Inc slid by 5.7% following a report that Texas Instruments would buy Micron’s Lehi, Utah, factory for $900 million.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.78-to-1 ratio; on Nasdaq, a 1.32-to-1 ratio favored advancers.\nThe S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 78 new highs and 30 new lows.\nVolume on U.S. exchanges was 9.53 billion shares, compared with the 10.9 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":20,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}