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Bradan

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2021-10-01

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A Bad Month for Stocks Ends With Few Signs the Drama Is Over

2021-09-15

Can like my comments. Thanks.

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It did not, however, spur an extreme reordering in trader sentiment, and to some of Wall Street’s old guard that’s worrisome.</p>\n<p>While the S&amp;P 500 posted its worst monthly performance since March 2020, there was no sign of the kind of cathartic surrender that contrarians look for in trying to call bottoms. Amid another early-week selloff, hedge funds tracked by Goldman Sachs Group Inc. were only “modest” sellers. On Tuesday, when the benchmark suffered its biggest drop in four months, outflows from equity exchange-traded funds trickled to only a fraction of what had been seen the week before.</p>\n<p>At the same time, the hand-over-fist buying sprees that marked exits from past dips were also not in evidence. Retail traders backed away from their favorite speculative instrument. The S&amp;P 500 approached 4,385 twice on Thursday before turning lower. The failure came one day after the level -- which acted as ceiling in July and then served as support in August --thwarted the index’s four breakout attempts.</p>\n<p>“Until we see a washout or impulsive buying, a move to the 200 DMA on the S&amp;P 500 can’t be ruled out,” said John Kolovos, chief technical strategist at Macro Risk Advisors. The index’s 200-day moving average sat near 4,135, a 4% decline from its last close.</p>\n<p>Stocks have tumbled as surging bond yields prompted investors to flee richly valued technology shares. Adding to the list of worries are concern about the government debt ceiling, rising political static around the Federal Reserve and supply chain disruptions.</p>\n<p>But panic was absent during the worst day of the carnage. On Tuesday, when the S&amp;P 500 tumbled 2%, short sales from hedge funds were flat, as opposed to Sept. 20, when a smaller decline triggered a 5.5% jump in bearish positions, client data compiled by Goldman show. And exchange-traded fund outflows that day reached $1.7 billion, trailing the $12 billion withdrawals seen from Sept. 20, according to Bloomberg data.</p>\n<p>Underpinning Tuesday’s selloff were systematic traders who allocate assets based on volatility, according to Nomura Securities strategist Charlie McElligott. He estimated that volatility control funds and targeted risk strategies likely slashed equity holdings by $35 billion on that day alone.</p>\n<p>Broadly, fear has yet to reach levels that flag a buying opportunity. Nicholas Colas, co-founder of DataTrek Research, says one gauge he monitors is the Cboe Volatility Index, or VIX. The gauge peaked at 25.7 this month, short of the reading of 36 that typically signals what he calls a “tradable low.”</p>\n<p>“We’re waiting for better levels before we get tactically bullish again,” Colas said. “We recommend long term investors steel themselves for a difficult few weeks to come.”</p>\n<p>The usual dip buyers were not enthusiastic either. Retail investors, one of the bull market’s biggest allies, has curbed their buying of bullish options while raising wagers against stocks.</p>\n<p>In fact, one trader just put out a massive hedging position via options to protect a portfolio of stocks in the event that the S&amp;P 500’s losses snowball toward 20% during the fourth quarter.</p>\n<p>To Matt Maley, chief market strategist for Miller Tabak + Co., the market is likely to follow the pattern from a year ago, when the jump in Treasury yields sent the S&amp;P 500 toward a 10% correction. And with the Fed turning more hawkish on monetary policy, investors had better get ready for bigger turmoil, he said.</p>\n<p>“We believe the correction will likely be a deeper one,” Maley said. “This year, the Fed is on the cusp of tapering back on their massive QE program and starting to talk about raising rates sooner than the market has been pricing in. Last year at this time, the QE program was running at full tilt.”</p>","source":"yahoofinance_sg","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>A Bad Month for Stocks Ends With Few Signs the Drama Is Over</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\">\nA Bad Month for Stocks Ends With Few Signs the Drama Is Over\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-01 19:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bad-month-stocks-ends-few-202428322.html><strong>Bloomgberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- The end of the September in the stock market was a time of volatility, accelerated hedging and economic unease. It did not, however, spur an extreme reordering in trader sentiment, and ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bad-month-stocks-ends-few-202428322.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/bad-month-stocks-ends-few-202428322.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161592541","content_text":"(Bloomberg) -- The end of the September in the stock market was a time of volatility, accelerated hedging and economic unease. It did not, however, spur an extreme reordering in trader sentiment, and to some of Wall Street’s old guard that’s worrisome.\nWhile the S&P 500 posted its worst monthly performance since March 2020, there was no sign of the kind of cathartic surrender that contrarians look for in trying to call bottoms. Amid another early-week selloff, hedge funds tracked by Goldman Sachs Group Inc. were only “modest” sellers. On Tuesday, when the benchmark suffered its biggest drop in four months, outflows from equity exchange-traded funds trickled to only a fraction of what had been seen the week before.\nAt the same time, the hand-over-fist buying sprees that marked exits from past dips were also not in evidence. Retail traders backed away from their favorite speculative instrument. The S&P 500 approached 4,385 twice on Thursday before turning lower. The failure came one day after the level -- which acted as ceiling in July and then served as support in August --thwarted the index’s four breakout attempts.\n“Until we see a washout or impulsive buying, a move to the 200 DMA on the S&P 500 can’t be ruled out,” said John Kolovos, chief technical strategist at Macro Risk Advisors. The index’s 200-day moving average sat near 4,135, a 4% decline from its last close.\nStocks have tumbled as surging bond yields prompted investors to flee richly valued technology shares. Adding to the list of worries are concern about the government debt ceiling, rising political static around the Federal Reserve and supply chain disruptions.\nBut panic was absent during the worst day of the carnage. On Tuesday, when the S&P 500 tumbled 2%, short sales from hedge funds were flat, as opposed to Sept. 20, when a smaller decline triggered a 5.5% jump in bearish positions, client data compiled by Goldman show. And exchange-traded fund outflows that day reached $1.7 billion, trailing the $12 billion withdrawals seen from Sept. 20, according to Bloomberg data.\nUnderpinning Tuesday’s selloff were systematic traders who allocate assets based on volatility, according to Nomura Securities strategist Charlie McElligott. He estimated that volatility control funds and targeted risk strategies likely slashed equity holdings by $35 billion on that day alone.\nBroadly, fear has yet to reach levels that flag a buying opportunity. Nicholas Colas, co-founder of DataTrek Research, says one gauge he monitors is the Cboe Volatility Index, or VIX. The gauge peaked at 25.7 this month, short of the reading of 36 that typically signals what he calls a “tradable low.”\n“We’re waiting for better levels before we get tactically bullish again,” Colas said. “We recommend long term investors steel themselves for a difficult few weeks to come.”\nThe usual dip buyers were not enthusiastic either. Retail investors, one of the bull market’s biggest allies, has curbed their buying of bullish options while raising wagers against stocks.\nIn fact, one trader just put out a massive hedging position via options to protect a portfolio of stocks in the event that the S&P 500’s losses snowball toward 20% during the fourth quarter.\nTo Matt Maley, chief market strategist for Miller Tabak + Co., the market is likely to follow the pattern from a year ago, when the jump in Treasury yields sent the S&P 500 toward a 10% correction. And with the Fed turning more hawkish on monetary policy, investors had better get ready for bigger turmoil, he said.\n“We believe the correction will likely be a deeper one,” Maley said. “This year, the Fed is on the cusp of tapering back on their massive QE program and starting to talk about raising rates sooner than the market has been pricing in. Last year at this time, the QE program was running at full tilt.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":774,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":882415735,"gmtCreate":1631714522427,"gmtModify":1631891083295,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Can like my comments. Thanks.&nbsp;","listText":"Can like my comments. Thanks.&nbsp;","text":"Can like my comments. Thanks.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/882415735","repostId":"1148341685","repostType":4,"repost":{"id":"1148341685","pubTimestamp":1631660884,"share":"https://www.laohu8.com/m/news/1148341685?lang=&edition=full","pubTime":"2021-09-15 07:08","market":"us","language":"en","title":"U.S. stocks close lower on worries over recovery, corporate tax hikes","url":"https://stock-news.laohu8.com/highlight/detail?id=1148341685","media":"Reuters","summary":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing","content":"<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p>\n<p>Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p>\n<p>So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p>\n<p>“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p>\n<p>The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p>\n<p>“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p>\n<p>The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p>\n<p>U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p>\n<p>The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p>\n<p>The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p>\n<p>All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p>\n<p>Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p>\n<p>Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p>\n<p>CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p>\n<p>Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</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>U.S. stocks close lower on worries over recovery, corporate tax hikes</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\">\nU.S. stocks close lower on worries over recovery, corporate tax hikes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-15 07:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9\">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.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148341685","content_text":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.\nOptimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.\nSo far this month the S&P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.\n“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”\nThe advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.\n“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”\nThe CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.\nU.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]\nThe long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.\nThe Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.\nAll 11 major sectors in the S&P 500 ended the session red, with energy and financials suffering the largest percentage drops.\nApple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&P 500 and the Nasdaq.\nIntuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.\nCureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.\nThe S&P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.\nVolume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":186,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817478963,"gmtCreate":1630984285752,"gmtModify":1631891083300,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/817478963","repostId":"1170846245","repostType":4,"repost":{"id":"1170846245","pubTimestamp":1630983881,"share":"https://www.laohu8.com/m/news/1170846245?lang=&edition=full","pubTime":"2021-09-07 11:04","market":"us","language":"en","title":"Nvidia: AI Leadership Key To Continuous Double-Digit Stock Price Growth","url":"https://stock-news.laohu8.com/highlight/detail?id=1170846245","media":"Seeking Alpha","summary":"Summary\n\nThe company’s share price has surged 42% along with its revenues at 54%, we aimed to determ","content":"<p><b>Summary</b></p>\n<ul>\n <li>The company’s share price has surged 42% along with its revenues at 54%, we aimed to determine if the share price has reached its peak or if there is more.</li>\n <li>It is advancing its AI leadership to capture growth opportunities in the booming cloud market fueled by the rising volume of data.</li>\n <li>We determine that pricing increase rather than shipment growth was the key to its PC GPU sales, and its pricing power was due to its performance improvements with every new.</li>\n <li>Despite the company’s Arm acquisition still pending regulatory approval, it has gone ahead in advancing its product development with Arm’s architecture, with its new BlueField DPU and Nvidia Grace.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c4a1c53ba379b52dcd7584cb55a0b11a\" tg-width=\"1536\" tg-height=\"1053\" referrerpolicy=\"no-referrer\"><span>David Becker/Getty Images News</span></p>\n<p>Since our previous analysis on Nvidia Corp (NVDA), the company’s full-year revenues have increased by 53% in 2020 which has exceeded our&nbsp;expectations&nbsp;of 43% growth with higher GPU sales across PC and data center markets. As such, the company’s stock price also surges well past our previous price target of $578.39. In this analysis, we determine if its impressive growth can continue and justify a higher valuation for the company.</p>\n<p>The main segments of the company contributing to its high growth were the Data center &amp; Gaming segment representing 40.2% and 46.5% of its total revenues respectively. We identified Nvidia’s AI leadership as a key advantage fuelling the growth across its data center segment capitalizing on rising data creation from AI, HPC and IoT applications with its AI leadership through its innovative products catered towards the booming cloud market. Besides data centers, gaming continues to be a key driver with its continuous performance improvements backed by new releases of next-generation GPU models contributing to rising pricing power to maintain ASP growth.</p>\n<p>Finally, we followed up on the Arm acquisition which is slated by management to conclude by early 2022. Through the acquisition of Arm, it not only earns incremental licensing revenue but also the ability to further leverage its CPU capabilities to develop and expand its range of Arm-based products including upcoming CPUs launches and the latest DPU SoCs. As the company is in the progress of obtaining regulatory clearance, we analysed the effect of the acquisition on the market competitiveness of the CPU markets.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/620b8212ee6f5ba62d2f6ac3f3e7be2c\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia</span></p>\n<p><b>AI Leadership ensures High Growth Across Key Data Centre Segment</b></p>\n<p>The increasing volumes of data created will fuel&nbsp;data center&nbsp;growth over the next decade. An important aspect of this will be machine-to-machine and Artificial Intelligence ('AI') technologies that enable massive volumes of data to be processed with ease and speed. AI data processing is made possible by a system of linked supercomputers that are used to process complex workloads by running millions of simulations and financial models to generate predictions from massive volumes of data by identifying a pattern and then replicating that pattern identification across other data. As can be imagined,AI computing&nbsp;would require massive computing infrastructure.</p>\n<p>Driven by the advent of AI, HPC, IoT and edge computing,data creation&nbsp;is projected to grow at a rate of&nbsp;around&nbsp;23% in the next 5 years. This would require greater cloud infrastructure to handle the increase in data. To determine the growth in cloud infrastructure revenues, we identified the factor of correlation of cloud infrastructure revenues to data volume growth over the past 10 years. The factor identified of 1.65x was applied to data volume growth projections to estimate the cloud infrastructure market growth rate to the year 2025.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/65dce37578817882262e6dc751775292\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Statista, Khaveen Investments</span></p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Volume of Data Worldwide</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2017</b></p></td>\n   <td><p><b>2018</b></p></td>\n   <td><p><b>2019</b></p></td>\n   <td><p><b>2020</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Cloud Infrastructure Market Revenues ($ bln)</p></td>\n   <td><p>32</p></td>\n   <td><p>46.5</p></td>\n   <td><p>69</p></td>\n   <td><p>96</p></td>\n   <td><p>129.5</p></td>\n   <td><p>178.9</p></td>\n   <td><p>246.3</p></td>\n   <td><p>342.9</p></td>\n   <td><p>470.6</p></td>\n   <td><p>650.6</p></td>\n  </tr>\n  <tr>\n   <td><p>Cloud Infrastructure Market Revenue Growth %<b><i>('a')</i></b></p></td>\n   <td><p>52%</p></td>\n   <td><p>45%</p></td>\n   <td><p>48%</p></td>\n   <td><p>39%</p></td>\n   <td><p>35%</p></td>\n   <td><p>38%</p></td>\n   <td><p>38%</p></td>\n   <td><p>39%</p></td>\n   <td><p>37%</p></td>\n   <td><p>38%</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Volume (ZB)</p></td>\n   <td><p>18</p></td>\n   <td><p>26</p></td>\n   <td><p>33</p></td>\n   <td><p>41</p></td>\n   <td><p>64.2</p></td>\n   <td><p>79</p></td>\n   <td><p>97</p></td>\n   <td><p>120</p></td>\n   <td><p>147</p></td>\n   <td><p>181</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Volume Growth %<b><i>('b')</i></b></p></td>\n   <td><p>16%</p></td>\n   <td><p>44%</p></td>\n   <td><p>27%</p></td>\n   <td><p>24%</p></td>\n   <td><p>57%</p></td>\n   <td><p>23%</p></td>\n   <td><p>23%</p></td>\n   <td><p>24%</p></td>\n   <td><p>23%</p></td>\n   <td><p>23%</p></td>\n  </tr>\n  <tr>\n   <td><p>Cloud Infrastructure Revenue Growth/Data Volume Growth Factor<i><b>('c')</b></i></p></td>\n   <td><p>3.25</p></td>\n   <td><p>1.02</p></td>\n   <td><p>1.80</p></td>\n   <td><p>1.61</p></td>\n   <td><p>0.62</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>*A =C x B</i></p>\n<p><i>Source:Statista, Khaveen Investments</i></p>\n<p>As mentioned, Artificial Intelligence ('AI') will play a crucial role in synthesizing and storing these waves of data. The race of AI computing technology is being led by semiconductor companies that create the chips that enable technology across all segments of the market. As such, innovations in AI have been especially expeditious in the semiconductor industry with several companies such as Nvidia, Intel and AMD developing significant AI capabilities in their chip systems.</p>\n<p>We view Nvidia in particular, as not just an AI leader of the semiconductor industry, but as the AI leader of the world. Nvidia&nbsp;aims&nbsp;to develop AI solutions for every industry and is already well on the way there. It is the leader in autonomous vehicles, with its&nbsp;AI-enabled&nbsp;Advanced Driver Assistance Systems (ADAS) being developed for global automakers, having already secured $8 bln in automotive&nbsp;design wins. Notwithstanding, Nvidia’s automotive segment only&nbsp;represents&nbsp;3.2% of its revenues. Nvidia’s key data center segment that represents 40.2% of its revenues, is where the company’s AI leadership is really seen. The company recently&nbsp;announced&nbsp;that its AI-powered&nbsp;DGX server&nbsp;has been adopted by the top 10 Aerospace companies, 6 of the top 10 US banks, and 8 out of the 10 top global telcos.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f6012b1f26e3dc39c6d52fa790b5723c\" tg-width=\"640\" tg-height=\"640\" referrerpolicy=\"no-referrer\"><span>Source: Statista</span></p>\n<p>As data volume and workload grow, it gets more difficult to transmit the data. To tackle this, enterprises are expected to bring applications and storage closer to themselves rather than transporting resources to a central location. As a result, large enterprises are more likely to build on-site data storage centers which require the use of an on-site fully built server system. This is where Nvidia’s latest DGX server comes into play. To put things in perspective, these aren’t the $500 GPU chipsets used in PCs. The GPU-enabled DGX servers are provided on a subscription model, with a single one&nbsp;costing&nbsp;a massive $4.3 million a year. As to the capability of DGX, its initial design was reported to have one of the world’s&nbsp;fastest&nbsp;AI workload speeds by the National Energy Research Scientific Computer Center (NERSC). Given both the first mover and technological advantage that Nvidia has, we see the company in a prime position to capture the on-premises server market in addition to the cloud server market. As such we expect the company’s data segment revenue as a percentage of total cloud capex to continue increasing at 3%. This was derived through our calculations by first estimating the total capex by the top 4 cloud providers (Amazon (AMZN), Microsoft (MSFT), Google (GOOG), Alibaba (BABA)) and adjusted by its market share as the total cloud capex.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Cloud Providers Capex ($ mln)</b></p></td>\n   <td><p><b>2011</b></p></td>\n   <td><p><b>2012</b></p></td>\n   <td><p><b>2013</b></p></td>\n   <td><p><b>2014</b></p></td>\n   <td><p><b>2015</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2017</b></p></td>\n   <td><p><b>2018</b></p></td>\n   <td><p><b>2019</b></p></td>\n   <td><p><b>2020</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Amazon</p></td>\n   <td><p>3,785</p></td>\n   <td><p>3,444</p></td>\n   <td><p>4,893</p></td>\n   <td><p>5,387</p></td>\n   <td><p>7,804</p></td>\n   <td><p>11,955</p></td>\n   <td><p>13,427</p></td>\n   <td><p>16,861</p></td>\n   <td><p>40,140</p></td>\n   <td><p>45,427</p></td>\n  </tr>\n  <tr>\n   <td><p>Microsoft</p></td>\n   <td><p>2,355</p></td>\n   <td><p>2,305</p></td>\n   <td><p>4,257</p></td>\n   <td><p>5,485</p></td>\n   <td><p>5,944</p></td>\n   <td><p>8,343</p></td>\n   <td><p>8,129</p></td>\n   <td><p>11,632</p></td>\n   <td><p>13,925</p></td>\n   <td><p>15,441</p></td>\n  </tr>\n  <tr>\n   <td><p>Google</p></td>\n   <td><p>3,438</p></td>\n   <td><p>3,273</p></td>\n   <td><p>7,358</p></td>\n   <td><p>11,014</p></td>\n   <td><p>9,950</p></td>\n   <td><p>10,212</p></td>\n   <td><p>13,184</p></td>\n   <td><p>25,139</p></td>\n   <td><p>23,548</p></td>\n   <td><p>22,281</p></td>\n  </tr>\n  <tr>\n   <td><p>Alibaba</p></td>\n   <td><p>403</p></td>\n   <td><p>768</p></td>\n   <td><p>1,243</p></td>\n   <td><p>1,680</p></td>\n   <td><p>1,598</p></td>\n   <td><p>3,129</p></td>\n   <td><p>5,287</p></td>\n   <td><p>4,596</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total (Top 4)</b></p></td>\n   <td><p><b>9,578</b></p></td>\n   <td><p><b>9,022</b></p></td>\n   <td><p><b>16,911</b></p></td>\n   <td><p><b>22,654</b></p></td>\n   <td><p><b>24,941</b></p></td>\n   <td><p><b>32,190</b></p></td>\n   <td><p><b>36,338</b></p></td>\n   <td><p><b>56,761</b></p></td>\n   <td><p><b>82,900</b></p></td>\n   <td><p><b>87,745</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nvidia, Amazon, Microsoft, Google, Alibaba, Khaveen Investments</i></p>\n<p>We then estimated the total cloud capex growth rate by basing it on the forecasted growth in the cloud infrastructure revenues on a 10-year average factor of 0.68x. With the growth in cloud capex, we computed Nvidia’s share of capex spending which has been growing at 3% on average in the past 7 years. Nvidia’s AI-powered GPU accelerators are&nbsp;deployed&nbsp;in more than 97% of all AI-accelerator hardware used by the top 4 cloud providers (Amazon, Google, Microsoft, and Alibaba). These top 4 cloud providers alone control 67%. Applying our estimated share of capex, we forecasted its total data center revenues growing at around 30%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/972996ded01571c84ee7d865f95435f9\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia, Amazon, Microsoft, Google, Alibaba, Statista, Khaveen Investments</span></p>\n<p><b>Continuous Performance Excellence Leads to Continuous Pricing Premium</b></p>\n<p>Nvidia’s Gaming segment revenue growth has&nbsp;averaged&nbsp;a stellar 27% in the past 7 years. The main contributor is rising ASPs which averaged 27% whereas&nbsp;shipments&nbsp;growth was flat. Although Nvidia accounts for 81% of the discrete GPU market share and steadily rising, its market share in the overall GPU market has declined slightly against AMD (AMD) and Intel (INTC) who also manufactures integrated GPUs but is planning to develop its Alchemist product while Nvidia only produces discrete chips.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5ed7f76f27711b67ba1d494638a060a\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Statista, JPR, Khaveen Investments</span></p>\n<p>Based on its stagnant share of the overall GPU market, this implies that demand for the integrated GPU market continues to remain strong. PC shipments grew at -0.8% within the same period. Whereas GPU unit shipments were lower than the PC shipment growth with an average of -2%. One of the attributable factors is the rising GPU costs relative to stagnant PC&nbsp;prices. In the past 5 years, Nvidia’s average ASP as a percentage of PC ASP has risen from 19% to 38%, making it harder for PC makers to cater to the mid-range and entry-level markets which presence remains stable. As costs continue to increase and Intel seeks to capitalize on its&nbsp;refreshed&nbsp;Intel Iris Xe integrated chips, we see Nvidia’s share of overall GPUs to decline and PC shipments&nbsp;CAGR&nbsp;of 3% through 2025.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Gaming PC Share of Market Revenues</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2020</b></p></td>\n  </tr>\n  <tr>\n   <td><p>High End</p></td>\n   <td><p>43%</p></td>\n   <td><p>47%</p></td>\n  </tr>\n  <tr>\n   <td><p>Mid-Range</p></td>\n   <td><p>35%</p></td>\n   <td><p>34%</p></td>\n  </tr>\n  <tr>\n   <td><p>Entry Level</p></td>\n   <td><p>22%</p></td>\n   <td><p>19%</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source:JPR</i></p>\n<p>However, every year, Nvidia releases a new product lineup offering better performance against the previous models. From&nbsp;GPU&nbsp;Check, we obtained the average benchmark score of all GPU models released for each year to obtain an average score and the average performance increase at 22% per year. Then, the average performance increase is compared to the increase in Nvidia’s ASPs for each year to derive the ASP growth to performance growth factor average of 1.1x. This implies that Nvidia’s GPU performance increase can sustain its ASP growth at a factor of 1.1x. We believe this to be fair, given the company’s solid track record of continuous product development. Its next generation of GPUs with the Ampere Next architecture is expected to be launched next year with the anticipated RTX 4000&nbsp;series&nbsp;a successor to its current lineup. One of the major significant upgrades anticipated is the&nbsp;switch&nbsp;towards TSMC’s(NYSE:TSM)N5 process allowing even more GPU cores and transistors than the current Ampere GPUs manufactured on TSMC’s N7 and Samsung(OTC:SSNLF)8N process. Even longer-term, the company’s roadmaps indicate continued innovation with the following generation of ‘Ampere Next Next’ expected in 2024 which could utilize TSMC’s N3 process.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2c0ab0660f3bc9b1ab75ae03877a268d\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Statista, GPU Checker, Khaveen Investments</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/82397f7b6f6e1ac39d9771917dfbfb12\" tg-width=\"455\" tg-height=\"691\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia, Statista, JPR, GPU Checker</span></p>\n<p>All in all, the main driver of gaming revenues is rising prices from continuous product development rather than unit shipments. Nonetheless, the robust demand on GPU shipments seen based on data from JPR indicates a major tailwind in 2021 and forecasted a growth rate of 36% based on the average GPU shipments growth rates of Q1 and Q2. Though we expect growth to normalize, and we based our shipment growth assumption beyond 2021 on a 3.5%&nbsp;CAGR&nbsp;through 2025. Also, accounting for Nvidia’s market share in GPUs, we derived its total unit shipment as well as ASP growth to forecast its total gaming revenue growth.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1cb4092eda26a27e19113abde9ffe4e5\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia, Statista, JPR</span></p>\n<table>\n <tbody></tbody>\n</table>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Annualized Nvidia</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2017</b></p></td>\n   <td><p><b>2018</b></p></td>\n   <td><p><b>2019</b></p></td>\n   <td><p><b>2020</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Shipments<b><i>('a')</i></b></p></td>\n   <td><p>34.76</p></td>\n   <td><p>37.67</p></td>\n   <td><p>33.58</p></td>\n   <td><p>27.68</p></td>\n   <td><p>31.95</p></td>\n   <td><p>43.45</p></td>\n   <td><p>44.97</p></td>\n   <td><p>46.55</p></td>\n   <td><p>48.18</p></td>\n   <td><p>49.86</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Shipments Growth %</b></p></td>\n   <td><p><b>-1%</b></p></td>\n   <td><p><b>8%</b></p></td>\n   <td><p><b>-11%</b></p></td>\n   <td><p><b>-18%</b></p></td>\n   <td><p><b>15%</b></p></td>\n   <td><p><b>36.0%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n  </tr>\n  <tr>\n   <td><p>ASPs<b><i>('b')</i></b></p></td>\n   <td><p>116.8</p></td>\n   <td><p>146.4</p></td>\n   <td><p>186.1</p></td>\n   <td><p>199.4</p></td>\n   <td><p>242.8</p></td>\n   <td><p>300.4</p></td>\n   <td><p>371.5</p></td>\n   <td><p>459.5</p></td>\n   <td><p>568.3</p></td>\n   <td><p>702.8</p></td>\n  </tr>\n  <tr>\n   <td><p><b>ASP Growth %</b></p></td>\n   <td><p><b>45%</b></p></td>\n   <td><p><b>25%</b></p></td>\n   <td><p><b>27%</b></p></td>\n   <td><p><b>7%</b></p></td>\n   <td><p><b>22%</b></p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n  </tr>\n  <tr>\n   <td><p>Gaming Revenues ($ mln)<b><i>('c')</i></b></p></td>\n   <td><p>4,060</p></td>\n   <td><p>5,513</p></td>\n   <td><p>6,250</p></td>\n   <td><p>5,518</p></td>\n   <td><p>7,759</p></td>\n   <td><p>13,051</p></td>\n   <td><p>16,707</p></td>\n   <td><p>21,386</p></td>\n   <td><p>27,377</p></td>\n   <td><p>35,045</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Gaming Revenues Growth %</b></p></td>\n   <td><p><b>44.1%</b></p></td>\n   <td><p><b>35.8%</b></p></td>\n   <td><p><b>13.4%</b></p></td>\n   <td><p><b>-11.7%</b></p></td>\n   <td><p><b>40.6%</b></p></td>\n   <td><p><b>68.2%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>*C = A x B</i></p>\n<p><i>Source: Nvidia,Statista,JPR,WCCF Tech</i></p>\n<p><b>Growth From Arm Regardless of Acquisition Approval</b></p>\n<p>Already a leading developer of GPUs, Nvidia is using its advantage in AI to produce a range of new products. It is acquiring Arm to leverage its CPU capabilities across key industries as seen with theexpansionof its Certified Systems with BlueField DPU SoCsfeaturing22 bln transistors and incorporating 16 Arm-based CPUs along with a 400 gigabits-per-second networking chip. The combination of both company’scapabilitieswith CPU from Arm and Mellanox networking solution for an advanced chip enhanced by is AI Enterprise software suite in partnership with VMware (VMW) vSphere creating a new market for Nvidia. The company has already received strong support fromcustomersincluding Dell Technologies (DELL), Inspur (OTC:INPRF), Lenovo (OTCPK:LNVGY) and Supermicro integrating its DPUs into their systems. Besides that, cloud service providers such as Baidu are using its DPUs to accelerate workloads. Additionally, it is also planning to enter the data centerCPUmarket with Nvidia Grace against incumbents Intel and AMD.</p>\n<p>That said, the deal is pending regulatory approval and management isexpectingto obtain clearance by early 2022. The HHI index is a measure of market competitiveness commonlyusedby governmental bodies such as the FTC and the Department of Justice in M&amp;A deals. It serves as guidance whether a deal would go through, or antitrust action would be taken depending on the concentration level.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Post-Merger HHI</b></p></td>\n   <td><p><b>Change from Premerger HHI</b></p></td>\n   <td><p><b>Antitrust Action</b></p></td>\n  </tr>\n  <tr>\n   <td><p>HHI &lt; 1000</p><p>Not concentrated,</p></td>\n   <td><p>Any</p></td>\n   <td><p>No action likely</p></td>\n  </tr>\n  <tr>\n   <td><p>1000 &lt; HHI &lt; 1800</p><p>Moderately Concentrated,</p></td>\n   <td><p>&gt;100</p></td>\n   <td><p>Moderately Concentrated, Possible Action</p></td>\n  </tr>\n  <tr>\n   <td><p>1800 &lt; HHI</p><p>Highly Concentrated,</p></td>\n   <td><p>&gt;50</p></td>\n   <td><p>Challenge very Likely</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source:OpenTextBC</i></p>\n<p>For the Arm deal, the HHI calculation would be applied on the PC CPU and server market shares only as only Nvidia, AMD and Intel compete within the GPU markets. In Nvidia’s case, the HHI value for both markets would not change as it represents Arm’s share. For example, the PC CPU market HHI is valued at 4,312 in both pre-and post-acquisition.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/25d0e917d9b288aacef22216402afb43\" tg-width=\"906\" tg-height=\"507\" width=\"100%\" height=\"auto\"><span>Source: Statista, PCMag</span></p>\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p>Similarly, the CPU market for servers would derive the same HHI score as the PC CPU market as Nvidia would replace Arm’s share. There is no change to the HHI score of 6,334.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2437536c9440e5a297dd29bf0fa530b8\" tg-width=\"906\" tg-height=\"508\" width=\"100%\" height=\"auto\"><span>Source: Nextplatform, Itcandor</span></p>\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p>If we consider Nvidia’s planned entry to the server CPU market with the launch of Nvidia Grace. Even a small increase in share for Nvidia would lead to a reduction in the HHI value by 188. This highlights Intel’s incredibly high market share. Even if the deal does not go through, the market would still become more competitive. Thus, based on the change in HHI values, Nvidia has a rather unique case for the deal going through. It does not compete with Arm directly PC and server CPU markets, it would just take up Arm’s market share and would not lead to any change to the HHI. In fact, it could make the market even more competitive.</p>\n<blockquote>\n Regulators are \"looking to ensure that their markets are pro-competitive, that this is pro-innovation… and this is good for customers. We can prove that and show that and demonstrate that overwhelmingly, so I have no concerns. -\n <i>Jen-Hsun Huang,CEO of Nvidia</i>\n</blockquote>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Server CPU Market Share Pre-Acquisition</b></p></td>\n   <td><p><b>Share</b></p></td>\n   <td><p><b>s</b></p></td>\n   <td><p><b>s^2</b></p></td>\n   <td><p><b>Server CPU Post Acquisition</b></p></td>\n   <td><p><b>Share</b></p></td>\n   <td><p><b>s</b></p></td>\n   <td><p><b>s^2</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Intel</p></td>\n   <td><p>78%</p></td>\n   <td><p>78</p></td>\n   <td><p>6084</p></td>\n   <td><p>Intel</p></td>\n   <td><p>77%</p></td>\n   <td><p>77</p></td>\n   <td><p>5929</p></td>\n  </tr>\n  <tr>\n   <td><p>AMD</p></td>\n   <td><p>9%</p></td>\n   <td><p>9</p></td>\n   <td><p>81</p></td>\n   <td><p>AMD</p></td>\n   <td><p>8%</p></td>\n   <td><p>8</p></td>\n   <td><p>64</p></td>\n  </tr>\n  <tr>\n   <td><p>Arm</p></td>\n   <td><p>13%</p></td>\n   <td><p>13</p></td>\n   <td><p>169</p></td>\n   <td><p>Arm</p></td>\n   <td><p>12%</p></td>\n   <td><p>12</p></td>\n   <td><p>144</p></td>\n  </tr>\n  <tr>\n   <td><p>-</p></td>\n   <td><p>Nvidia</p></td>\n   <td><p>3%</p></td>\n   <td><p>3</p></td>\n   <td><p>9</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total</b></p></td>\n   <td><p><b>6334</b></p></td>\n   <td><p><b>Total</b></p></td>\n   <td><p><b>6146</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nextplatform, Itcandor, Khaveen Investments</i></p>\n<p>Furthermore, Nvidia’s acquisition comes at a time when M&amp;A activity has risen in the semiconductor market with the average deal value rising by more than 5 times since 2015. Should the deal go through, it would make it the most valuable semicon deal in history at $40 bln. Though, larger deals in the past have broken down due to antitrust. Out of 32 of the largestdealssince 2015, only 3 major deals above $1 bln have fallen apart representing a 9.3% rejection rateincludingKLA (KLAC) and Lam Research (LRCX) merger, Qualcomm (QCOM) acquisition of NXP(NASDAQ:NXPI)and Broadcom’s (AVGO) acquisition of Qualcomm. On the other hand, smaller deals valued at below $1 bln had fewer issues with antitrust. Of the 98 deals, only 4 deals were stopped by regulators which is a 4% rejection rate. This implies that larger deals attract greater scrutiny, which is negative for Nvidia considering it is the highest valued semicon deal.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f15f3619d3f243fbda6bedc37d7bb89c\" tg-width=\"482\" tg-height=\"246\" width=\"100%\" height=\"auto\"><span>Source:Design&amp;Reuse</span></p>\n<p><b>Acquisition Approval Risk</b></p>\n<p>Initially, the expectation of the Arm acquisition deal to go through is by Q1 2022 but subject to regulatory approval from various governmental bodies. There are several arguments that the deal might be delayed or would ultimately fail to get approval. Based on our previousanalysis, we highlighted several headwinds that could arise from regulators across various jurisdictions which include:</p>\n<ul>\n <li>Tensions between the US and China and to protect Arm China against possible intervention by foreign governments in the future</li>\n <li>The intention for the UK to protect its local industry and prioritize local jobs, technological expertise and intellectual property</li>\n <li>European authorities seeking to protect companies’ access to advanced technology and preserve sovereignty and independence</li>\n</ul>\n<p>While management stated its confidence that the Arm deal would go through as planned, these headwinds may pose a risk for the company to meet its deadline. In the Q2 2022 earnings briefing, Nvidia acknowledged the headwinds in obtaining regulatoryapprovalwhich is taking longer than initially thought.</p>\n<blockquote>\n We are working through the regulatory process, although some Arm licensees have expressed concerns and objected to the transaction, and discussions with regulators are taking longer than initially thought\n <i>- Nvidia CFOColette Kress</i>\n</blockquote>\n<p>A breakdown of the agreement could lead to the company incurring fees related to the failure of the acquisition. A couple of months ago, the deal faced several risks of beingdelayedas seen with the European regulator’s reluctance to consider the case until after the summer holidays to gather more information. Nvidia is reported to notify the European Commission in early September as the EU is set tolauncha formal probe into the deal. Also, the US FTC has been seeking to gather more information while Big Techs including Google, Microsoft, and Qualcomm complained about limiting competition. Whereas in China, the company applied with Chinese authorities but appears to be facing tensions with the axed CEO of Arm China which ischallengingthe company for unfair dismissal.</p>\n<p>It is believed that the agreement allows both companies to extend the deal to Q3 2022 but either party could walk away beyond that. That said, even the deal fails to go through, we believe that the company may be able to realize synergies anyway given its strong product development in the pipeline.</p>\n<p><b>Valuation</b></p>\n<p>The company has had an average revenue growth rate of 29.01% in the past 5 years with average gross and net margins of 61.05% and 28.4% respectively. The strength of its earnings and margins is its increasing margin as a result of lower COGS as a percentage of revenues which declined by 3.9% on average in the past 10 years. In comparison to other chipmakers, Nvidia’s gross margins are higher than the industry average of 47.2% and net margins of 13.2% which highlights its superior pricing power which saw ASPs rising by 25% on average in the past 6 years due to its dominance over the discrete GPU market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3bfb1b7c9d729426c5e3c88230e32091\" tg-width=\"640\" tg-height=\"360\" width=\"100%\" height=\"auto\"><span>Source: Nvidia, Khaveen Investments</span></p>\n<p>In terms of cash flows, the company’s 5-year average FCF margin is 15.14% and has steadily increased as it grows its operating cash flows. Its margins appear to be volatile due to its investments in marketable securities with an inflow of $6.6 bln in 2019 and an outflow of $10 bln in 2020. However, excluding this, it has very high levels of cash generation with an adjusted average FCF margin of 29.1%. Thus, it is not only saving up for larger acquisitions in the future, but it indicates its solid profitability and earning power which would make it highly valuable even when growth slows down.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de12e328a7e3922a8cb21f9f53b77128\" tg-width=\"640\" tg-height=\"360\" width=\"100%\" height=\"auto\"><span>Source: Nvidia, Khaveen Investments</span></p>\n<p>Moreover, the company has a strong balance sheet with a debt-to-equity ratio of 0.7x in 2020 with a high EBITDA interest coverage of 114x in the past 5 years indicating its solid ability to repay its debts. In comparison with other chipmaker competitors, its debt-to-equity is significantly lower than the average of 1.35x which highlights its advantage as a fabless chipmaker with a lean balance sheet.</p>\n<p>We valued the company based on a P/S valuation due to its superb revenue growth as a rapidly growing company. To determine the appropriate P/S multiple to use, we calculated the average P/S ratio of the chipmakers according to their 5-year CAGR.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Average Chipmaker Revenue CAGR (5Yrs)</b></p></td>\n   <td><p><b>PS Ratio</b></p></td>\n  </tr>\n  <tr>\n   <td><p>35%+</p></td>\n   <td><p>25.07</p></td>\n  </tr>\n  <tr>\n   <td><p>30%-35%</p></td>\n   <td><p>22.03</p></td>\n  </tr>\n  <tr>\n   <td><p>25%-30%</p></td>\n   <td><p>20.00</p></td>\n  </tr>\n  <tr>\n   <td><p>20%-25%</p></td>\n   <td><p>15.95</p></td>\n  </tr>\n  <tr>\n   <td><p>15% -20%</p></td>\n   <td><p>11.73</p></td>\n  </tr>\n  <tr>\n   <td><p>10%-15%</p></td>\n   <td><p>7.52</p></td>\n  </tr>\n  <tr>\n   <td><p>0%-10%</p></td>\n   <td><p>6.76</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: SeekingAlpha, Khaveen Investments</i></p>\n<p>Firstly, we forecasted its revenues through 2025 without including Arm based on Nvidia growth in gaming and data center as discussed above. The automotive revenues are projected based on a 22% CAGR derived from its $8 bln automotive pipeline assuming it realizes it by 2025. The professional visualization segment is based on the workstation marketCAGRof 9.8% from 2022 through 2025 while the OEM revenues are based on annualized results in 2021.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Nvidia Revenue Forecast Without Arm ($ mln)</b></p></td>\n   <td><p><b>2020</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Gaming</p></td>\n   <td><p>7,759</p></td>\n   <td><p>13,051</p></td>\n   <td><p>16,707</p></td>\n   <td><p>21,386</p></td>\n   <td><p>27,377</p></td>\n   <td><p>35,045</p></td>\n  </tr>\n  <tr>\n   <td><p>Professional Visualization</p></td>\n   <td><p>1,053</p></td>\n   <td><p>1,782</p></td>\n   <td><p>1,957</p></td>\n   <td><p>2,148</p></td>\n   <td><p>2,359</p></td>\n   <td><p>2,590</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Center</p></td>\n   <td><p>6,696</p></td>\n   <td><p>9,649</p></td>\n   <td><p>11,727</p></td>\n   <td><p>14,410</p></td>\n   <td><p>17,452</p></td>\n   <td><p>21,298</p></td>\n  </tr>\n  <tr>\n   <td><p>Automotive</p></td>\n   <td><p>536</p></td>\n   <td><p>654</p></td>\n   <td><p>798</p></td>\n   <td><p>973</p></td>\n   <td><p>1,187</p></td>\n   <td><p>1,449</p></td>\n  </tr>\n  <tr>\n   <td><p>OEM and Other</p></td>\n   <td><p>631</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total</b></p></td>\n   <td><p><b>16,675</b></p></td>\n   <td><p><b>26,608</b></p></td>\n   <td><p><b>32,660</b></p></td>\n   <td><p><b>40,390</b></p></td>\n   <td><p><b>49,847</b></p></td>\n   <td><p><b>61,853</b></p></td>\n  </tr>\n  <tr>\n   <td><p><b>Growth %</b></p></td>\n   <td><p><b>53%</b></p></td>\n   <td><p>59.6%</p></td>\n   <td><p>22.7%</p></td>\n   <td><p>23.7%</p></td>\n   <td><p>23.4%</p></td>\n   <td><p>24.1%</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nvidia, Khaveen Investments</i></p>\n<p>In addition, we previously computed the potentialsynergiesfrom Arm should the deal go through as planned in 2022. Furthermore, Arm’s revenues are also included in the forecast.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Synergies ($ mln)</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Gaming</p></td>\n   <td><p>742</p></td>\n   <td><p>1,993</p></td>\n   <td><p>4,018</p></td>\n   <td><p>6,327</p></td>\n  </tr>\n  <tr>\n   <td><p>Professional Visualization</p></td>\n   <td><p>90</p></td>\n   <td><p>205</p></td>\n   <td><p>351</p></td>\n   <td><p>489</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Center</p></td>\n   <td><p>459</p></td>\n   <td><p>1,406</p></td>\n   <td><p>3,230</p></td>\n   <td><p>5,694</p></td>\n  </tr>\n  <tr>\n   <td><p>Automotive</p></td>\n   <td><p>25</p></td>\n   <td><p>69</p></td>\n   <td><p>140</p></td>\n   <td><p>207</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total Synergies</b></p></td>\n   <td><p><b>1,316</b></p></td>\n   <td><p><b>3,673</b></p></td>\n   <td><p><b>7,739</b></p></td>\n   <td><p><b>12,717</b></p></td>\n  </tr>\n  <tr>\n   <td><p><b>Arm Revenues</b></p></td>\n   <td><p><b>2,145</b></p></td>\n   <td><p><b>2,280</b></p></td>\n   <td><p><b>2,423</b></p></td>\n   <td><p><b>2,576</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nvidia, Khaveen Investments</i></p>\n<p><b>Bear Case</b></p>\n<p>The bear case valuation assumes a 25% probability of the deal going through should the company face challenges from antitrust regulators. Also, the bear case assumes 80% of synergies and Arm revenues would be realized.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Bear Case</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Nvidia revenues ($ mln)</p></td>\n   <td><p>26,608</p></td>\n   <td><p>33,995</p></td>\n   <td><p>42,265</p></td>\n   <td><p>52,607</p></td>\n   <td><p>65,685</p></td>\n  </tr>\n  <tr>\n   <td><p>Growth %</p></td>\n   <td><p>59.6%</p></td>\n   <td><p>27.8%</p></td>\n   <td><p>24.3%</p></td>\n   <td><p>24.5%</p></td>\n   <td><p>24.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>P/S Ratio</p></td>\n   <td><p>25.07</p></td>\n   <td><p>20.00</p></td>\n   <td><p>15.95</p></td>\n   <td><p>15.95</p></td>\n   <td><p>15.95</p></td>\n  </tr>\n  <tr>\n   <td><p>Valuation ($ mln)</p></td>\n   <td><p>667,068</p></td>\n   <td><p>680,022</p></td>\n   <td><p>674,119</p></td>\n   <td><p>839,081</p></td>\n   <td><p>1,047,673</p></td>\n  </tr>\n  <tr>\n   <td><p>Number of shares outstanding ('mln')</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Target Share Price</b></p></td>\n   <td><p><b>$267.90</b></p></td>\n   <td><p><b>$273.10</b></p></td>\n   <td><p><b>$270.73</b></p></td>\n   <td><p><b>$336.98</b></p></td>\n   <td><p><b>$420.75</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Current Share Price</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Upside</b></p></td>\n   <td><p><b>19.6%</b></p></td>\n   <td><p><b>21.9%</b></p></td>\n   <td><p><b>20.9%</b></p></td>\n   <td><p><b>50.5%</b></p></td>\n   <td><p><b>87.9%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p><b>Base Case</b></p>\n<p>Whereas the base case assumes a 50% probability on the basis of its continued progress to complete the deal but also the possible delays due to regulators requiring more information. Also, we assume 100% of synergies to be realised through the acquisition.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Base Case</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Nvidia revenues ($ mln)</p></td>\n   <td><p>26,608</p></td>\n   <td><p>34,927</p></td>\n   <td><p>43,937</p></td>\n   <td><p>55,534</p></td>\n   <td><p>70,144</p></td>\n  </tr>\n  <tr>\n   <td><p>Growth %</p></td>\n   <td><p>59.6%</p></td>\n   <td><p>31.3%</p></td>\n   <td><p>25.8%</p></td>\n   <td><p>26.4%</p></td>\n   <td><p>26.3%</p></td>\n  </tr>\n  <tr>\n   <td><p>P/S Ratio</p></td>\n   <td><p>25.07</p></td>\n   <td><p>22.03</p></td>\n   <td><p>20.00</p></td>\n   <td><p>20.00</p></td>\n   <td><p>20.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Valuation ($ mln)</p></td>\n   <td><p>667,068</p></td>\n   <td><p>769,432</p></td>\n   <td><p>878,877</p></td>\n   <td><p>1,110,874</p></td>\n   <td><p>1,403,114</p></td>\n  </tr>\n  <tr>\n   <td><p>Number of shares outstanding ('mln')</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Target Share Price</b></p></td>\n   <td><p><b>$267.90</b></p></td>\n   <td><p><b>$309.01</b></p></td>\n   <td><p><b>$352.96</b></p></td>\n   <td><p><b>$446.13</b></p></td>\n   <td><p><b>$563.50</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Current Share Price</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Upside</b></p></td>\n   <td><p><b>19.6%</b></p></td>\n   <td><p><b>38.0%</b></p></td>\n   <td><p><b>57.6%</b></p></td>\n   <td><p><b>99.2%</b></p></td>\n   <td><p><b>151.6%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p><b>Bull Case</b></p>\n<p>Finally, the bull case assumes a 100% probability as we believe the acquisition would not lead to greater market concentration but rather a more competitive one as its case for the deal to go through. Also, we assume 120% of synergies to be realised through the acquisition.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Bull Case</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Nvidia revenues ($ mln)</p></td>\n   <td><p>26,608</p></td>\n   <td><p>36,384</p></td>\n   <td><p>47,078</p></td>\n   <td><p>61,558</p></td>\n   <td><p>79,690</p></td>\n  </tr>\n  <tr>\n   <td><p>Growth %</p></td>\n   <td><p>59.6%</p></td>\n   <td><p>36.7%</p></td>\n   <td><p>29.4%</p></td>\n   <td><p>30.8%</p></td>\n   <td><p>29.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>P/S Ratio</p></td>\n   <td><p>25.07</p></td>\n   <td><p>25.07</p></td>\n   <td><p>20.00</p></td>\n   <td><p>22.03</p></td>\n   <td><p>20.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Valuation ($ mln)</p></td>\n   <td><p>667,068</p></td>\n   <td><p>912,153</p></td>\n   <td><p>941,714</p></td>\n   <td><p>1,356,113</p></td>\n   <td><p>1,594,068</p></td>\n  </tr>\n  <tr>\n   <td><p>Number of shares outstanding ('mln')</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Target Share Price</b></p></td>\n   <td><p><b>$267.90</b></p></td>\n   <td><p><b>$366.33</b></p></td>\n   <td><p><b>$378.20</b></p></td>\n   <td><p><b>$544.62</b></p></td>\n   <td><p><b>$640.19</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Current Share Price</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Upside</b></p></td>\n   <td><p><b>19.6%</b></p></td>\n   <td><p><b>63.6%</b></p></td>\n   <td><p><b>68.9%</b></p></td>\n   <td><p><b>143.2%</b></p></td>\n   <td><p><b>185.8%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8db79f76b76c1204c2fcb9cbcc04f1e2\" tg-width=\"640\" tg-height=\"360\" width=\"100%\" height=\"auto\"><span>Source: Khaveen Investments</span></p>\n<p>Our 1-year average price target for the bear, base and bull case is $270.50, $288.45, $317.11 with an upside of 20.8%, 28.8% and 41.6% respectively.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>1-year Average Price Target</b></p></td>\n   <td><p><b>Target Price</b></p></td>\n   <td><p><b>Current Price</b></p></td>\n   <td><p><b>Upside</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Bear Case</p></td>\n   <td><p>$270.50</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>20.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>Base Case</p></td>\n   <td><p>$288.45</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>28.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>Bull Case</p></td>\n   <td><p>$317.11</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>41.6%</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p><b>Verdict</b></p>\n<p>To sum it up, the company’s growth prospects are supported by its solid innovative capabilities leading to its AI leadership and GPU performance excellence. Highlighting the advancement of its AI strategy around the data center markets, we believe it can capitalize on the booming cloud growth and increasing capex share to benefit its data center revenues. Additionally, despite the flattish shipment growth, we believe it can continue to grow its gaming revenues highlighting its consistent performance improvement with its next-gen Ampere Next based models. As it advances its AI strategy, it is looking to leverage Arm’s incredible CPU IP across its latest product R&amp;D for the data center for future launches. Compared to our previous analysis, we applied a quantitative P/S multiple to reflect its superb growth outlook as one of the highest in the industry. Based on our valuation model using a P/S multiple, its projected revenue growth rate of 59.6% in 2021 driven by strong growth momentum across gaming and data center segments provides an upside opportunity of 28.8% as its stock price has already increased by 71% year to date. Overall, we rate the company as a<i>Buy</i>with a target price of<i>$288.45.</i></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia: AI Leadership Key To Continuous Double-Digit Stock Price Growth</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia: AI Leadership Key To Continuous Double-Digit Stock Price Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-07 11:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4453780-nvidia-ai-leadership-key-to-continuous-double-digit-stock-price-growth><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe company’s share price has surged 42% along with its revenues at 54%, we aimed to determine if the share price has reached its peak or if there is more.\nIt is advancing its AI leadership ...</p>\n\n<a href=\"https://seekingalpha.com/article/4453780-nvidia-ai-leadership-key-to-continuous-double-digit-stock-price-growth\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://seekingalpha.com/article/4453780-nvidia-ai-leadership-key-to-continuous-double-digit-stock-price-growth","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170846245","content_text":"Summary\n\nThe company’s share price has surged 42% along with its revenues at 54%, we aimed to determine if the share price has reached its peak or if there is more.\nIt is advancing its AI leadership to capture growth opportunities in the booming cloud market fueled by the rising volume of data.\nWe determine that pricing increase rather than shipment growth was the key to its PC GPU sales, and its pricing power was due to its performance improvements with every new.\nDespite the company’s Arm acquisition still pending regulatory approval, it has gone ahead in advancing its product development with Arm’s architecture, with its new BlueField DPU and Nvidia Grace.\n\nDavid Becker/Getty Images News\nSince our previous analysis on Nvidia Corp (NVDA), the company’s full-year revenues have increased by 53% in 2020 which has exceeded our expectations of 43% growth with higher GPU sales across PC and data center markets. As such, the company’s stock price also surges well past our previous price target of $578.39. In this analysis, we determine if its impressive growth can continue and justify a higher valuation for the company.\nThe main segments of the company contributing to its high growth were the Data center & Gaming segment representing 40.2% and 46.5% of its total revenues respectively. We identified Nvidia’s AI leadership as a key advantage fuelling the growth across its data center segment capitalizing on rising data creation from AI, HPC and IoT applications with its AI leadership through its innovative products catered towards the booming cloud market. Besides data centers, gaming continues to be a key driver with its continuous performance improvements backed by new releases of next-generation GPU models contributing to rising pricing power to maintain ASP growth.\nFinally, we followed up on the Arm acquisition which is slated by management to conclude by early 2022. Through the acquisition of Arm, it not only earns incremental licensing revenue but also the ability to further leverage its CPU capabilities to develop and expand its range of Arm-based products including upcoming CPUs launches and the latest DPU SoCs. As the company is in the progress of obtaining regulatory clearance, we analysed the effect of the acquisition on the market competitiveness of the CPU markets.\nSource: Nvidia\nAI Leadership ensures High Growth Across Key Data Centre Segment\nThe increasing volumes of data created will fuel data center growth over the next decade. An important aspect of this will be machine-to-machine and Artificial Intelligence ('AI') technologies that enable massive volumes of data to be processed with ease and speed. AI data processing is made possible by a system of linked supercomputers that are used to process complex workloads by running millions of simulations and financial models to generate predictions from massive volumes of data by identifying a pattern and then replicating that pattern identification across other data. As can be imagined,AI computing would require massive computing infrastructure.\nDriven by the advent of AI, HPC, IoT and edge computing,data creation is projected to grow at a rate of around 23% in the next 5 years. This would require greater cloud infrastructure to handle the increase in data. To determine the growth in cloud infrastructure revenues, we identified the factor of correlation of cloud infrastructure revenues to data volume growth over the past 10 years. The factor identified of 1.65x was applied to data volume growth projections to estimate the cloud infrastructure market growth rate to the year 2025.\nSource: Statista, Khaveen Investments\n\n\n\nVolume of Data Worldwide\n2016\n2017\n2018\n2019\n2020\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nCloud Infrastructure Market Revenues ($ bln)\n32\n46.5\n69\n96\n129.5\n178.9\n246.3\n342.9\n470.6\n650.6\n\n\nCloud Infrastructure Market Revenue Growth %('a')\n52%\n45%\n48%\n39%\n35%\n38%\n38%\n39%\n37%\n38%\n\n\nData Volume (ZB)\n18\n26\n33\n41\n64.2\n79\n97\n120\n147\n181\n\n\nData Volume Growth %('b')\n16%\n44%\n27%\n24%\n57%\n23%\n23%\n24%\n23%\n23%\n\n\nCloud Infrastructure Revenue Growth/Data Volume Growth Factor('c')\n3.25\n1.02\n1.80\n1.61\n0.62\n1.65\n1.65\n1.65\n1.65\n1.65\n\n\n\n*A =C x B\nSource:Statista, Khaveen Investments\nAs mentioned, Artificial Intelligence ('AI') will play a crucial role in synthesizing and storing these waves of data. The race of AI computing technology is being led by semiconductor companies that create the chips that enable technology across all segments of the market. As such, innovations in AI have been especially expeditious in the semiconductor industry with several companies such as Nvidia, Intel and AMD developing significant AI capabilities in their chip systems.\nWe view Nvidia in particular, as not just an AI leader of the semiconductor industry, but as the AI leader of the world. Nvidia aims to develop AI solutions for every industry and is already well on the way there. It is the leader in autonomous vehicles, with its AI-enabled Advanced Driver Assistance Systems (ADAS) being developed for global automakers, having already secured $8 bln in automotive design wins. Notwithstanding, Nvidia’s automotive segment only represents 3.2% of its revenues. Nvidia’s key data center segment that represents 40.2% of its revenues, is where the company’s AI leadership is really seen. The company recently announced that its AI-powered DGX server has been adopted by the top 10 Aerospace companies, 6 of the top 10 US banks, and 8 out of the 10 top global telcos.\nSource: Statista\nAs data volume and workload grow, it gets more difficult to transmit the data. To tackle this, enterprises are expected to bring applications and storage closer to themselves rather than transporting resources to a central location. As a result, large enterprises are more likely to build on-site data storage centers which require the use of an on-site fully built server system. This is where Nvidia’s latest DGX server comes into play. To put things in perspective, these aren’t the $500 GPU chipsets used in PCs. The GPU-enabled DGX servers are provided on a subscription model, with a single one costing a massive $4.3 million a year. As to the capability of DGX, its initial design was reported to have one of the world’s fastest AI workload speeds by the National Energy Research Scientific Computer Center (NERSC). Given both the first mover and technological advantage that Nvidia has, we see the company in a prime position to capture the on-premises server market in addition to the cloud server market. As such we expect the company’s data segment revenue as a percentage of total cloud capex to continue increasing at 3%. This was derived through our calculations by first estimating the total capex by the top 4 cloud providers (Amazon (AMZN), Microsoft (MSFT), Google (GOOG), Alibaba (BABA)) and adjusted by its market share as the total cloud capex.\n\n\n\nCloud Providers Capex ($ mln)\n2011\n2012\n2013\n2014\n2015\n2016\n2017\n2018\n2019\n2020\n\n\nAmazon\n3,785\n3,444\n4,893\n5,387\n7,804\n11,955\n13,427\n16,861\n40,140\n45,427\n\n\nMicrosoft\n2,355\n2,305\n4,257\n5,485\n5,944\n8,343\n8,129\n11,632\n13,925\n15,441\n\n\nGoogle\n3,438\n3,273\n7,358\n11,014\n9,950\n10,212\n13,184\n25,139\n23,548\n22,281\n\n\nAlibaba\n403\n768\n1,243\n1,680\n1,598\n3,129\n5,287\n4,596\n\n\nTotal (Top 4)\n9,578\n9,022\n16,911\n22,654\n24,941\n32,190\n36,338\n56,761\n82,900\n87,745\n\n\n\nSource: Nvidia, Amazon, Microsoft, Google, Alibaba, Khaveen Investments\nWe then estimated the total cloud capex growth rate by basing it on the forecasted growth in the cloud infrastructure revenues on a 10-year average factor of 0.68x. With the growth in cloud capex, we computed Nvidia’s share of capex spending which has been growing at 3% on average in the past 7 years. Nvidia’s AI-powered GPU accelerators are deployed in more than 97% of all AI-accelerator hardware used by the top 4 cloud providers (Amazon, Google, Microsoft, and Alibaba). These top 4 cloud providers alone control 67%. Applying our estimated share of capex, we forecasted its total data center revenues growing at around 30%.\nSource: Nvidia, Amazon, Microsoft, Google, Alibaba, Statista, Khaveen Investments\nContinuous Performance Excellence Leads to Continuous Pricing Premium\nNvidia’s Gaming segment revenue growth has averaged a stellar 27% in the past 7 years. The main contributor is rising ASPs which averaged 27% whereas shipments growth was flat. Although Nvidia accounts for 81% of the discrete GPU market share and steadily rising, its market share in the overall GPU market has declined slightly against AMD (AMD) and Intel (INTC) who also manufactures integrated GPUs but is planning to develop its Alchemist product while Nvidia only produces discrete chips.\nSource: Statista, JPR, Khaveen Investments\nBased on its stagnant share of the overall GPU market, this implies that demand for the integrated GPU market continues to remain strong. PC shipments grew at -0.8% within the same period. Whereas GPU unit shipments were lower than the PC shipment growth with an average of -2%. One of the attributable factors is the rising GPU costs relative to stagnant PC prices. In the past 5 years, Nvidia’s average ASP as a percentage of PC ASP has risen from 19% to 38%, making it harder for PC makers to cater to the mid-range and entry-level markets which presence remains stable. As costs continue to increase and Intel seeks to capitalize on its refreshed Intel Iris Xe integrated chips, we see Nvidia’s share of overall GPUs to decline and PC shipments CAGR of 3% through 2025.\n\n\n\nGaming PC Share of Market Revenues\n2016\n2020\n\n\nHigh End\n43%\n47%\n\n\nMid-Range\n35%\n34%\n\n\nEntry Level\n22%\n19%\n\n\n\nSource:JPR\nHowever, every year, Nvidia releases a new product lineup offering better performance against the previous models. From GPU Check, we obtained the average benchmark score of all GPU models released for each year to obtain an average score and the average performance increase at 22% per year. Then, the average performance increase is compared to the increase in Nvidia’s ASPs for each year to derive the ASP growth to performance growth factor average of 1.1x. This implies that Nvidia’s GPU performance increase can sustain its ASP growth at a factor of 1.1x. We believe this to be fair, given the company’s solid track record of continuous product development. Its next generation of GPUs with the Ampere Next architecture is expected to be launched next year with the anticipated RTX 4000 series a successor to its current lineup. One of the major significant upgrades anticipated is the switch towards TSMC’s(NYSE:TSM)N5 process allowing even more GPU cores and transistors than the current Ampere GPUs manufactured on TSMC’s N7 and Samsung(OTC:SSNLF)8N process. Even longer-term, the company’s roadmaps indicate continued innovation with the following generation of ‘Ampere Next Next’ expected in 2024 which could utilize TSMC’s N3 process.\nSource: Statista, GPU Checker, Khaveen Investments\nSource: Nvidia, Statista, JPR, GPU Checker\nAll in all, the main driver of gaming revenues is rising prices from continuous product development rather than unit shipments. Nonetheless, the robust demand on GPU shipments seen based on data from JPR indicates a major tailwind in 2021 and forecasted a growth rate of 36% based on the average GPU shipments growth rates of Q1 and Q2. Though we expect growth to normalize, and we based our shipment growth assumption beyond 2021 on a 3.5% CAGR through 2025. Also, accounting for Nvidia’s market share in GPUs, we derived its total unit shipment as well as ASP growth to forecast its total gaming revenue growth.\nSource: Nvidia, Statista, JPR\n\n\n\n\n\n\nAnnualized Nvidia\n2016\n2017\n2018\n2019\n2020\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nShipments('a')\n34.76\n37.67\n33.58\n27.68\n31.95\n43.45\n44.97\n46.55\n48.18\n49.86\n\n\nShipments Growth %\n-1%\n8%\n-11%\n-18%\n15%\n36.0%\n3.5%\n3.5%\n3.5%\n3.5%\n\n\nASPs('b')\n116.8\n146.4\n186.1\n199.4\n242.8\n300.4\n371.5\n459.5\n568.3\n702.8\n\n\nASP Growth %\n45%\n25%\n27%\n7%\n22%\n24%\n24%\n24%\n24%\n24%\n\n\nGaming Revenues ($ mln)('c')\n4,060\n5,513\n6,250\n5,518\n7,759\n13,051\n16,707\n21,386\n27,377\n35,045\n\n\nGaming Revenues Growth %\n44.1%\n35.8%\n13.4%\n-11.7%\n40.6%\n68.2%\n28.0%\n28.0%\n28.0%\n28.0%\n\n\n\n*C = A x B\nSource: Nvidia,Statista,JPR,WCCF Tech\nGrowth From Arm Regardless of Acquisition Approval\nAlready a leading developer of GPUs, Nvidia is using its advantage in AI to produce a range of new products. It is acquiring Arm to leverage its CPU capabilities across key industries as seen with theexpansionof its Certified Systems with BlueField DPU SoCsfeaturing22 bln transistors and incorporating 16 Arm-based CPUs along with a 400 gigabits-per-second networking chip. The combination of both company’scapabilitieswith CPU from Arm and Mellanox networking solution for an advanced chip enhanced by is AI Enterprise software suite in partnership with VMware (VMW) vSphere creating a new market for Nvidia. The company has already received strong support fromcustomersincluding Dell Technologies (DELL), Inspur (OTC:INPRF), Lenovo (OTCPK:LNVGY) and Supermicro integrating its DPUs into their systems. Besides that, cloud service providers such as Baidu are using its DPUs to accelerate workloads. Additionally, it is also planning to enter the data centerCPUmarket with Nvidia Grace against incumbents Intel and AMD.\nThat said, the deal is pending regulatory approval and management isexpectingto obtain clearance by early 2022. The HHI index is a measure of market competitiveness commonlyusedby governmental bodies such as the FTC and the Department of Justice in M&A deals. It serves as guidance whether a deal would go through, or antitrust action would be taken depending on the concentration level.\n\n\n\nPost-Merger HHI\nChange from Premerger HHI\nAntitrust Action\n\n\nHHI < 1000Not concentrated,\nAny\nNo action likely\n\n\n1000 < HHI < 1800Moderately Concentrated,\n>100\nModerately Concentrated, Possible Action\n\n\n1800 < HHIHighly Concentrated,\n>50\nChallenge very Likely\n\n\n\nSource:OpenTextBC\nFor the Arm deal, the HHI calculation would be applied on the PC CPU and server market shares only as only Nvidia, AMD and Intel compete within the GPU markets. In Nvidia’s case, the HHI value for both markets would not change as it represents Arm’s share. For example, the PC CPU market HHI is valued at 4,312 in both pre-and post-acquisition.\nSource: Statista, PCMag\n\n\n\n\n\nSimilarly, the CPU market for servers would derive the same HHI score as the PC CPU market as Nvidia would replace Arm’s share. There is no change to the HHI score of 6,334.\nSource: Nextplatform, Itcandor\n\n\n\n\n\nIf we consider Nvidia’s planned entry to the server CPU market with the launch of Nvidia Grace. Even a small increase in share for Nvidia would lead to a reduction in the HHI value by 188. This highlights Intel’s incredibly high market share. Even if the deal does not go through, the market would still become more competitive. Thus, based on the change in HHI values, Nvidia has a rather unique case for the deal going through. It does not compete with Arm directly PC and server CPU markets, it would just take up Arm’s market share and would not lead to any change to the HHI. In fact, it could make the market even more competitive.\n\n Regulators are \"looking to ensure that their markets are pro-competitive, that this is pro-innovation… and this is good for customers. We can prove that and show that and demonstrate that overwhelmingly, so I have no concerns. -\n Jen-Hsun Huang,CEO of Nvidia\n\n\n\n\nServer CPU Market Share Pre-Acquisition\nShare\ns\ns^2\nServer CPU Post Acquisition\nShare\ns\ns^2\n\n\nIntel\n78%\n78\n6084\nIntel\n77%\n77\n5929\n\n\nAMD\n9%\n9\n81\nAMD\n8%\n8\n64\n\n\nArm\n13%\n13\n169\nArm\n12%\n12\n144\n\n\n-\nNvidia\n3%\n3\n9\n\n\nTotal\n6334\nTotal\n6146\n\n\n\nSource: Nextplatform, Itcandor, Khaveen Investments\nFurthermore, Nvidia’s acquisition comes at a time when M&A activity has risen in the semiconductor market with the average deal value rising by more than 5 times since 2015. Should the deal go through, it would make it the most valuable semicon deal in history at $40 bln. Though, larger deals in the past have broken down due to antitrust. Out of 32 of the largestdealssince 2015, only 3 major deals above $1 bln have fallen apart representing a 9.3% rejection rateincludingKLA (KLAC) and Lam Research (LRCX) merger, Qualcomm (QCOM) acquisition of NXP(NASDAQ:NXPI)and Broadcom’s (AVGO) acquisition of Qualcomm. On the other hand, smaller deals valued at below $1 bln had fewer issues with antitrust. Of the 98 deals, only 4 deals were stopped by regulators which is a 4% rejection rate. This implies that larger deals attract greater scrutiny, which is negative for Nvidia considering it is the highest valued semicon deal.\nSource:Design&Reuse\nAcquisition Approval Risk\nInitially, the expectation of the Arm acquisition deal to go through is by Q1 2022 but subject to regulatory approval from various governmental bodies. There are several arguments that the deal might be delayed or would ultimately fail to get approval. Based on our previousanalysis, we highlighted several headwinds that could arise from regulators across various jurisdictions which include:\n\nTensions between the US and China and to protect Arm China against possible intervention by foreign governments in the future\nThe intention for the UK to protect its local industry and prioritize local jobs, technological expertise and intellectual property\nEuropean authorities seeking to protect companies’ access to advanced technology and preserve sovereignty and independence\n\nWhile management stated its confidence that the Arm deal would go through as planned, these headwinds may pose a risk for the company to meet its deadline. In the Q2 2022 earnings briefing, Nvidia acknowledged the headwinds in obtaining regulatoryapprovalwhich is taking longer than initially thought.\n\n We are working through the regulatory process, although some Arm licensees have expressed concerns and objected to the transaction, and discussions with regulators are taking longer than initially thought\n - Nvidia CFOColette Kress\n\nA breakdown of the agreement could lead to the company incurring fees related to the failure of the acquisition. A couple of months ago, the deal faced several risks of beingdelayedas seen with the European regulator’s reluctance to consider the case until after the summer holidays to gather more information. Nvidia is reported to notify the European Commission in early September as the EU is set tolauncha formal probe into the deal. Also, the US FTC has been seeking to gather more information while Big Techs including Google, Microsoft, and Qualcomm complained about limiting competition. Whereas in China, the company applied with Chinese authorities but appears to be facing tensions with the axed CEO of Arm China which ischallengingthe company for unfair dismissal.\nIt is believed that the agreement allows both companies to extend the deal to Q3 2022 but either party could walk away beyond that. That said, even the deal fails to go through, we believe that the company may be able to realize synergies anyway given its strong product development in the pipeline.\nValuation\nThe company has had an average revenue growth rate of 29.01% in the past 5 years with average gross and net margins of 61.05% and 28.4% respectively. The strength of its earnings and margins is its increasing margin as a result of lower COGS as a percentage of revenues which declined by 3.9% on average in the past 10 years. In comparison to other chipmakers, Nvidia’s gross margins are higher than the industry average of 47.2% and net margins of 13.2% which highlights its superior pricing power which saw ASPs rising by 25% on average in the past 6 years due to its dominance over the discrete GPU market.\nSource: Nvidia, Khaveen Investments\nIn terms of cash flows, the company’s 5-year average FCF margin is 15.14% and has steadily increased as it grows its operating cash flows. Its margins appear to be volatile due to its investments in marketable securities with an inflow of $6.6 bln in 2019 and an outflow of $10 bln in 2020. However, excluding this, it has very high levels of cash generation with an adjusted average FCF margin of 29.1%. Thus, it is not only saving up for larger acquisitions in the future, but it indicates its solid profitability and earning power which would make it highly valuable even when growth slows down.\nSource: Nvidia, Khaveen Investments\nMoreover, the company has a strong balance sheet with a debt-to-equity ratio of 0.7x in 2020 with a high EBITDA interest coverage of 114x in the past 5 years indicating its solid ability to repay its debts. In comparison with other chipmaker competitors, its debt-to-equity is significantly lower than the average of 1.35x which highlights its advantage as a fabless chipmaker with a lean balance sheet.\nWe valued the company based on a P/S valuation due to its superb revenue growth as a rapidly growing company. To determine the appropriate P/S multiple to use, we calculated the average P/S ratio of the chipmakers according to their 5-year CAGR.\n\n\n\nAverage Chipmaker Revenue CAGR (5Yrs)\nPS Ratio\n\n\n35%+\n25.07\n\n\n30%-35%\n22.03\n\n\n25%-30%\n20.00\n\n\n20%-25%\n15.95\n\n\n15% -20%\n11.73\n\n\n10%-15%\n7.52\n\n\n0%-10%\n6.76\n\n\n\nSource: SeekingAlpha, Khaveen Investments\nFirstly, we forecasted its revenues through 2025 without including Arm based on Nvidia growth in gaming and data center as discussed above. The automotive revenues are projected based on a 22% CAGR derived from its $8 bln automotive pipeline assuming it realizes it by 2025. The professional visualization segment is based on the workstation marketCAGRof 9.8% from 2022 through 2025 while the OEM revenues are based on annualized results in 2021.\n\n\n\nNvidia Revenue Forecast Without Arm ($ mln)\n2020\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nGaming\n7,759\n13,051\n16,707\n21,386\n27,377\n35,045\n\n\nProfessional Visualization\n1,053\n1,782\n1,957\n2,148\n2,359\n2,590\n\n\nData Center\n6,696\n9,649\n11,727\n14,410\n17,452\n21,298\n\n\nAutomotive\n536\n654\n798\n973\n1,187\n1,449\n\n\nOEM and Other\n631\n1,472\n1,472\n1,472\n1,472\n1,472\n\n\nTotal\n16,675\n26,608\n32,660\n40,390\n49,847\n61,853\n\n\nGrowth %\n53%\n59.6%\n22.7%\n23.7%\n23.4%\n24.1%\n\n\n\nSource: Nvidia, Khaveen Investments\nIn addition, we previously computed the potentialsynergiesfrom Arm should the deal go through as planned in 2022. Furthermore, Arm’s revenues are also included in the forecast.\n\n\n\nSynergies ($ mln)\n2022F\n2023F\n2024F\n2025F\n\n\nGaming\n742\n1,993\n4,018\n6,327\n\n\nProfessional Visualization\n90\n205\n351\n489\n\n\nData Center\n459\n1,406\n3,230\n5,694\n\n\nAutomotive\n25\n69\n140\n207\n\n\nTotal Synergies\n1,316\n3,673\n7,739\n12,717\n\n\nArm Revenues\n2,145\n2,280\n2,423\n2,576\n\n\n\nSource: Nvidia, Khaveen Investments\nBear Case\nThe bear case valuation assumes a 25% probability of the deal going through should the company face challenges from antitrust regulators. Also, the bear case assumes 80% of synergies and Arm revenues would be realized.\n\n\n\nBear Case\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nNvidia revenues ($ mln)\n26,608\n33,995\n42,265\n52,607\n65,685\n\n\nGrowth %\n59.6%\n27.8%\n24.3%\n24.5%\n24.9%\n\n\nP/S Ratio\n25.07\n20.00\n15.95\n15.95\n15.95\n\n\nValuation ($ mln)\n667,068\n680,022\n674,119\n839,081\n1,047,673\n\n\nNumber of shares outstanding ('mln')\n2,490\n2,490\n2,490\n2,490\n2,490\n\n\nTarget Share Price\n$267.90\n$273.10\n$270.73\n$336.98\n$420.75\n\n\nCurrent Share Price\n$223.96\n$223.96\n$223.96\n$223.96\n$223.96\n\n\nUpside\n19.6%\n21.9%\n20.9%\n50.5%\n87.9%\n\n\n\nSource: Khaveen Investments\nBase Case\nWhereas the base case assumes a 50% probability on the basis of its continued progress to complete the deal but also the possible delays due to regulators requiring more information. Also, we assume 100% of synergies to be realised through the acquisition.\n\n\n\nBase Case\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nNvidia revenues ($ mln)\n26,608\n34,927\n43,937\n55,534\n70,144\n\n\nGrowth %\n59.6%\n31.3%\n25.8%\n26.4%\n26.3%\n\n\nP/S Ratio\n25.07\n22.03\n20.00\n20.00\n20.00\n\n\nValuation ($ mln)\n667,068\n769,432\n878,877\n1,110,874\n1,403,114\n\n\nNumber of shares outstanding ('mln')\n2,490\n2,490\n2,490\n2,490\n2,490\n\n\nTarget Share Price\n$267.90\n$309.01\n$352.96\n$446.13\n$563.50\n\n\nCurrent Share Price\n$223.96\n$223.96\n$223.96\n$223.96\n$223.96\n\n\nUpside\n19.6%\n38.0%\n57.6%\n99.2%\n151.6%\n\n\n\nSource: Khaveen Investments\nBull Case\nFinally, the bull case assumes a 100% probability as we believe the acquisition would not lead to greater market concentration but rather a more competitive one as its case for the deal to go through. Also, we assume 120% of synergies to be realised through the acquisition.\n\n\n\nBull Case\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nNvidia revenues ($ mln)\n26,608\n36,384\n47,078\n61,558\n79,690\n\n\nGrowth %\n59.6%\n36.7%\n29.4%\n30.8%\n29.5%\n\n\nP/S Ratio\n25.07\n25.07\n20.00\n22.03\n20.00\n\n\nValuation ($ mln)\n667,068\n912,153\n941,714\n1,356,113\n1,594,068\n\n\nNumber of shares outstanding ('mln')\n2,490\n2,490\n2,490\n2,490\n2,490\n\n\nTarget Share Price\n$267.90\n$366.33\n$378.20\n$544.62\n$640.19\n\n\nCurrent Share Price\n$223.96\n$223.96\n$223.96\n$223.96\n$223.96\n\n\nUpside\n19.6%\n63.6%\n68.9%\n143.2%\n185.8%\n\n\n\nSource: Khaveen Investments\nSource: Khaveen Investments\nOur 1-year average price target for the bear, base and bull case is $270.50, $288.45, $317.11 with an upside of 20.8%, 28.8% and 41.6% respectively.\n\n\n\n1-year Average Price Target\nTarget Price\nCurrent Price\nUpside\n\n\nBear Case\n$270.50\n$223.96\n20.8%\n\n\nBase Case\n$288.45\n$223.96\n28.8%\n\n\nBull Case\n$317.11\n$223.96\n41.6%\n\n\n\nSource: Khaveen Investments\nVerdict\nTo sum it up, the company’s growth prospects are supported by its solid innovative capabilities leading to its AI leadership and GPU performance excellence. Highlighting the advancement of its AI strategy around the data center markets, we believe it can capitalize on the booming cloud growth and increasing capex share to benefit its data center revenues. Additionally, despite the flattish shipment growth, we believe it can continue to grow its gaming revenues highlighting its consistent performance improvement with its next-gen Ampere Next based models. As it advances its AI strategy, it is looking to leverage Arm’s incredible CPU IP across its latest product R&D for the data center for future launches. Compared to our previous analysis, we applied a quantitative P/S multiple to reflect its superb growth outlook as one of the highest in the industry. Based on our valuation model using a P/S multiple, its projected revenue growth rate of 59.6% in 2021 driven by strong growth momentum across gaming and data center segments provides an upside opportunity of 28.8% as its stock price has already increased by 71% year to date. Overall, we rate the company as aBuywith a target price of$288.45.","news_type":1},"isVote":1,"tweetType":1,"viewCount":101,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115345340,"gmtCreate":1622954265480,"gmtModify":1631891083303,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/115345340","repostId":"2140540596","repostType":4,"repost":{"id":"2140540596","pubTimestamp":1622820692,"share":"https://www.laohu8.com/m/news/2140540596?lang=&edition=full","pubTime":"2021-06-04 23:31","market":"us","language":"en","title":"3 Technology Stocks You Can Buy and Hold for the Next Decade","url":"https://stock-news.laohu8.com/highlight/detail?id=2140540596","media":"Motley Fool","summary":"It can be tough to get married to stocks -- especially tech -- but here are three to leave alone for the long haul.","content":"<p>Let's be honest. A lot of people say their positions in flashy technology companies are meant to be long-term holdings, but they're really just an effort to make a quick buck. And that's OK. Any profitable trade is technically a good trade. If you can get in and out at the right time, so be it.</p>\n<p>Thing is, there are plenty of tech names that are more than just flash-in-the-pan prospects, and are better suited for holding periods measured in years rather than weeks.</p>\n<p>Here's a closer look at three such technology companies. Not only will they be just as impressive 10 years from now as they are today, but their stocks should be trading at much higher prices.</p>\n<h2>Microsoft</h2>\n<p>It's tough to imagine a world without <b>Microsoft</b> (NASDAQ:MSFT). Its Windows operating system is installed on three-fourths of the world's desktops and laptops, according to GlobalStats, and its Office productivity software remains the gold standard for the category. <b>Sony</b>'s PlayStation gaming console enjoys more worldwide market share than Microsoft's Xbox, but the Xbox is closing the gap, and is still the most popular game console in the U.S.</p>\n<p>And these are things consumers can readily see. There's a whole different unseen array of Microsoft-made products that are doing similarly well. For instance, Canalys reports Microsoft's cloud computing business accounted for a second-best 19% of the world's first-quarter cloud infrastructure spending, and the company continues to close the gap with market-leader <b>Amazon</b>.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/362a8a5cb8d412d4e3895fa185d236b7\" tg-width=\"700\" tg-height=\"484\"><span>Image source: Getty Images.</span></p>\n<p>Now take a step back and ask a thoughtful, critical question: Is there any chance the world will have less need for computers, cloud computing, productivity software, or game consoles 10 years from now?</p>\n<p>Any reasonable and realistic answer has to be \"no.\" Indeed, it would be surprising if demand for these products and services wasn't considerably greater a decade from now. Being a market leader in multiple categories, Microsoft can steer the market's ongoing growth in a way that serves itself best. For example, the Windows operating system comes with trial versions of Office software pre-installed.</p>\n<p>Bolstering the bullish argument for long-term ownership of Microsoft is the company's evolving business model. Access to Azure, Office, and even video games can now be utilized on a monthly subscription basis, accessible via the cloud. This shift not only makes the company's products more affordable to begin using but also gives Microsoft a better chance of keeping those customers by making it easy to update and upgrade software.</p>\n<p>Last year, the last time Microsoft disclosed such data, it had already lined up more than $100 billion worth of subscription cloud revenue that had yet to be booked -- a figure that continues to edge upward.</p>\n<h2><a href=\"https://laohu8.com/S/PANW\">Palo Alto Networks</a></h2>\n<p>Even after several high-profile cybersecurity gaffes embarrassed organizations ranging from <b>Target </b>to <b>Equifax</b> to Yahoo!, some of the world's most important companies are still being hacked. Most recently, Colonial Pipeline agreed to fork over $4.4 million to a computer hacking group known as Darkside to regain control of its 5,500 miles worth of refined oil pipelines.</p>\n<p>These things are preventable. They're just not being prevented, as too many organizations don't utilize all the digital defenses available to them. Perhaps the Colonial Pipeline debacle will encourage procurement of this protection.</p>\n<p>Enter <b>Palo Alto Networks</b> (NYSE:PANW). Simply put, Palo Alto offers software preventing unauthorized access to a company's network, internal apps, and data. It's even got a ransomware protection solution in its lineup that might have been able to save Colonial Pipeline a few million bucks.</p>\n<p>The opportunity is incredible, and should remain so for a while. P&amp;S Intelligence believes the cybersecurity market will grow at an average annual pace of 12.6%, from 2019's $120 billion to $434 billion by 2030. That's a lot, but it's only a fraction of the $10.5 trillion that Cybersecurity Ventures believes cybercrime will cost the world in 2025 alone if enterprises don't step up their digital defense games.</p>\n<p>Palo Alto is doing fine, logging more than seven consecutive years of rising revenue as more and more outfits build their digital moats. Given the outlook, more of the same kind of growth is in the cards for a while.</p>\n<h2>International Business Machines</h2>\n<p>Finally, add <b>International Business Machines</b> (NYSE:IBM) to your list of technology stocks to buy and hold for the next decade.</p>\n<p>Yes, this is the same IBM that failed to respond to the advent of things like cloud computing, mobile devices, and all that goes with both. The company's \"strategic imperatives\" plan unveiled in 2015 was meant to steer the company away from a legacy mainframe business that was already dying and toward more contemporary opportunities like the aforementioned cloud and mobile security. By and large, though, it was too little too late.</p>\n<p>The IBM of today, however, isn't the IBM from even as recently as two years ago. It's ready to compete where it counts.</p>\n<p>Take last month's revelation of new technologies capable of fabricating a 2-nanometer microchip as an example. The microscopic measure is in reference to how small a chip's transistors can be made and still function properly. The smaller, the better, as smaller transistors consume less power, operate faster, and require less space when room is a factor. For perspective, 7-nanometer chips are the best the market has to offer right now.</p>\n<p>It's not just more functional chips IBM is starting to develop, either. Just within the past few weeks, the company has unveiled a way for data centers to more efficiently store and retrieve data, and launched AutoSQL, which is capable of retrieving data eight times faster than previous approaches are. Both technologies have a myriad of potential uses, including in the artificial intelligence arena.</p>\n<p>Read between the lines. This isn't yesteryear's IBM.</p>\n<p>It could still take years for the company to fully monetize these and other breakthroughs, but they're worth the wait.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Technology Stocks You Can Buy and Hold for the Next Decade</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Technology Stocks You Can Buy and Hold for the Next Decade\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 23:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/04/3-technology-stocks-you-can-buy-and-hold-for-the-n/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Let's be honest. A lot of people say their positions in flashy technology companies are meant to be long-term holdings, but they're really just an effort to make a quick buck. And that's OK. Any ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/04/3-technology-stocks-you-can-buy-and-hold-for-the-n/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IBM":"IBM","PANW":"Palo Alto Networks","MSFT":"微软"},"source_url":"https://www.fool.com/investing/2021/06/04/3-technology-stocks-you-can-buy-and-hold-for-the-n/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2140540596","content_text":"Let's be honest. A lot of people say their positions in flashy technology companies are meant to be long-term holdings, but they're really just an effort to make a quick buck. And that's OK. Any profitable trade is technically a good trade. If you can get in and out at the right time, so be it.\nThing is, there are plenty of tech names that are more than just flash-in-the-pan prospects, and are better suited for holding periods measured in years rather than weeks.\nHere's a closer look at three such technology companies. Not only will they be just as impressive 10 years from now as they are today, but their stocks should be trading at much higher prices.\nMicrosoft\nIt's tough to imagine a world without Microsoft (NASDAQ:MSFT). Its Windows operating system is installed on three-fourths of the world's desktops and laptops, according to GlobalStats, and its Office productivity software remains the gold standard for the category. Sony's PlayStation gaming console enjoys more worldwide market share than Microsoft's Xbox, but the Xbox is closing the gap, and is still the most popular game console in the U.S.\nAnd these are things consumers can readily see. There's a whole different unseen array of Microsoft-made products that are doing similarly well. For instance, Canalys reports Microsoft's cloud computing business accounted for a second-best 19% of the world's first-quarter cloud infrastructure spending, and the company continues to close the gap with market-leader Amazon.\nImage source: Getty Images.\nNow take a step back and ask a thoughtful, critical question: Is there any chance the world will have less need for computers, cloud computing, productivity software, or game consoles 10 years from now?\nAny reasonable and realistic answer has to be \"no.\" Indeed, it would be surprising if demand for these products and services wasn't considerably greater a decade from now. Being a market leader in multiple categories, Microsoft can steer the market's ongoing growth in a way that serves itself best. For example, the Windows operating system comes with trial versions of Office software pre-installed.\nBolstering the bullish argument for long-term ownership of Microsoft is the company's evolving business model. Access to Azure, Office, and even video games can now be utilized on a monthly subscription basis, accessible via the cloud. This shift not only makes the company's products more affordable to begin using but also gives Microsoft a better chance of keeping those customers by making it easy to update and upgrade software.\nLast year, the last time Microsoft disclosed such data, it had already lined up more than $100 billion worth of subscription cloud revenue that had yet to be booked -- a figure that continues to edge upward.\nPalo Alto Networks\nEven after several high-profile cybersecurity gaffes embarrassed organizations ranging from Target to Equifax to Yahoo!, some of the world's most important companies are still being hacked. Most recently, Colonial Pipeline agreed to fork over $4.4 million to a computer hacking group known as Darkside to regain control of its 5,500 miles worth of refined oil pipelines.\nThese things are preventable. They're just not being prevented, as too many organizations don't utilize all the digital defenses available to them. Perhaps the Colonial Pipeline debacle will encourage procurement of this protection.\nEnter Palo Alto Networks (NYSE:PANW). Simply put, Palo Alto offers software preventing unauthorized access to a company's network, internal apps, and data. It's even got a ransomware protection solution in its lineup that might have been able to save Colonial Pipeline a few million bucks.\nThe opportunity is incredible, and should remain so for a while. P&S Intelligence believes the cybersecurity market will grow at an average annual pace of 12.6%, from 2019's $120 billion to $434 billion by 2030. That's a lot, but it's only a fraction of the $10.5 trillion that Cybersecurity Ventures believes cybercrime will cost the world in 2025 alone if enterprises don't step up their digital defense games.\nPalo Alto is doing fine, logging more than seven consecutive years of rising revenue as more and more outfits build their digital moats. Given the outlook, more of the same kind of growth is in the cards for a while.\nInternational Business Machines\nFinally, add International Business Machines (NYSE:IBM) to your list of technology stocks to buy and hold for the next decade.\nYes, this is the same IBM that failed to respond to the advent of things like cloud computing, mobile devices, and all that goes with both. The company's \"strategic imperatives\" plan unveiled in 2015 was meant to steer the company away from a legacy mainframe business that was already dying and toward more contemporary opportunities like the aforementioned cloud and mobile security. By and large, though, it was too little too late.\nThe IBM of today, however, isn't the IBM from even as recently as two years ago. It's ready to compete where it counts.\nTake last month's revelation of new technologies capable of fabricating a 2-nanometer microchip as an example. The microscopic measure is in reference to how small a chip's transistors can be made and still function properly. The smaller, the better, as smaller transistors consume less power, operate faster, and require less space when room is a factor. For perspective, 7-nanometer chips are the best the market has to offer right now.\nIt's not just more functional chips IBM is starting to develop, either. Just within the past few weeks, the company has unveiled a way for data centers to more efficiently store and retrieve data, and launched AutoSQL, which is capable of retrieving data eight times faster than previous approaches are. Both technologies have a myriad of potential uses, including in the artificial intelligence arena.\nRead between the lines. This isn't yesteryear's IBM.\nIt could still take years for the company to fully monetize these and other breakthroughs, but they're worth the wait.","news_type":1},"isVote":1,"tweetType":1,"viewCount":124,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":132934182,"gmtCreate":1622062330446,"gmtModify":1631891083309,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/132934182","repostId":"2138143109","repostType":4,"repost":{"id":"2138143109","pubTimestamp":1622042760,"share":"https://www.laohu8.com/m/news/2138143109?lang=&edition=full","pubTime":"2021-05-26 23:26","market":"us","language":"en","title":"Why American Eagle Outfitters Is Jumping 5.5% Today","url":"https://stock-news.laohu8.com/highlight/detail?id=2138143109","media":"Motley Fool","summary":"The apparel retailer has strong tailwinds behind it.","content":"<h2>What happened</h2><p>Shares of <b>American Eagle Outfitters</b> (NYSE:AEO) were up 5.5% in morning trading Wednesday ahead of the apparel retailer reporting first-quarter earnings after the market closes.</p><h2>So what</h2><p>Many retailers are posting strong quarterly financials as they go up against comparatively weak comparable sales from the year-ago period, which was partially marred by the coronavirus pandemic outbreak. Both <b>Abercrombie &amp; Fitch</b> and <b><a href=\"https://laohu8.com/S/URBN\">Urban Outfitters</a></b> just handily beat estimates.</p><p>Investors might view American Eagle as prepared to beat analyst expectations on the strength of its Aerie loungewear brand, which has been a strong performer throughout. Especially as working from home became an imperative for many -- and still is -- comfortable clothes that met various fashion needs became de rigueur for consumers.</p><p>Analysts expect Aerie to become a $2 billion to $3 billion brand, and it already accounts for 40% American Eagle's sales.</p><h2>Now what</h2><p>Wall Street expects American Eagle to post revenue of $1.02 billion, up 85% over the year-ago quarter, generating earnings of $0.47 per share compared to an adjusted loss of $0.84 per share (analyst estimates typically don't include <a href=\"https://laohu8.com/S/AONE\">one</a>-time items that companies end up adjusting their results for).</p><p>It already looks as though American Eagle is expected to post robust results, so the market will end up reacting tomorrow to just how much the retailer beats (or misses) those forecasts.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why American Eagle Outfitters Is Jumping 5.5% Today</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy American Eagle Outfitters Is Jumping 5.5% Today\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-26 23:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/26/why-american-eagle-outfitters-is-jumping-55-today/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What happenedShares of American Eagle Outfitters (NYSE:AEO) were up 5.5% in morning trading Wednesday ahead of the apparel retailer reporting first-quarter earnings after the market closes.So whatMany...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/26/why-american-eagle-outfitters-is-jumping-55-today/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/26/why-american-eagle-outfitters-is-jumping-55-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138143109","content_text":"What happenedShares of American Eagle Outfitters (NYSE:AEO) were up 5.5% in morning trading Wednesday ahead of the apparel retailer reporting first-quarter earnings after the market closes.So whatMany retailers are posting strong quarterly financials as they go up against comparatively weak comparable sales from the year-ago period, which was partially marred by the coronavirus pandemic outbreak. Both Abercrombie & Fitch and Urban Outfitters just handily beat estimates.Investors might view American Eagle as prepared to beat analyst expectations on the strength of its Aerie loungewear brand, which has been a strong performer throughout. Especially as working from home became an imperative for many -- and still is -- comfortable clothes that met various fashion needs became de rigueur for consumers.Analysts expect Aerie to become a $2 billion to $3 billion brand, and it already accounts for 40% American Eagle's sales.Now whatWall Street expects American Eagle to post revenue of $1.02 billion, up 85% over the year-ago quarter, generating earnings of $0.47 per share compared to an adjusted loss of $0.84 per share (analyst estimates typically don't include one-time items that companies end up adjusting their results for).It already looks as though American Eagle is expected to post robust results, so the market will end up reacting tomorrow to just how much the retailer beats (or misses) those forecasts.","news_type":1},"isVote":1,"tweetType":1,"viewCount":261,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":133840004,"gmtCreate":1621737513208,"gmtModify":1631891083309,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Nooo","listText":"Nooo","text":"Nooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/133840004","repostId":"2137907575","repostType":4,"isVote":1,"tweetType":1,"viewCount":288,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194367873,"gmtCreate":1621344064892,"gmtModify":1631891083312,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/194367873","repostId":"2135161248","repostType":4,"repost":{"id":"2135161248","pubTimestamp":1621343169,"share":"https://www.laohu8.com/m/news/2135161248?lang=&edition=full","pubTime":"2021-05-18 21:06","market":"us","language":"en","title":"JD.com to Report Q1 Earnings: What's in the Cards?","url":"https://stock-news.laohu8.com/highlight/detail?id=2135161248","media":"Zacks","summary":"JD.com, Inc. is scheduled to report first-quarter 2021 results on May 19.\nFor the first quarter, the","content":"<p><b>JD.com, Inc.</b>&nbsp;is scheduled to report first-quarter 2021 results on May 19.</p>\n<p>For the first quarter, the Zacks Consensus Estimate for revenues is pegged at $29.9 billion, indicating an improvement of 44.9% from the year-ago reported figure.</p>\n<p>Further, the consensus mark for earnings is pegged at 39 cents per share, indicating a 39.3% rise from the previous-year reported figure.</p>\n<p>Notably, the company delivered an earnings surprise of 4.6% in the last reported quarter.</p>\n<p><b>JD.com, Inc. Price and EPS Surprise</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c1fed1c36f6a8ce20878c0d2e594f77c\" tg-width=\"534\" tg-height=\"262\"><span>JD.com, Inc. price-eps-surprise | JD.com, Inc. Quote</span></p>\n<p><b>Key Factors to Note</b></p>\n<p>The company’s JD Retail segment, comprising the e-commerce business, is expected to have been the key catalyst in the first quarter.</p>\n<p>The launch of flagship stores of popular fashion and luxury brands like John Lobb, Stefano Ricci, Vivienne Westwoodon and Anya Hindmarch, among others, on JD.com is likely to have driven customer momentum, which in turn is expected to have aided the performance of JD Retail during the quarter-to-be-reported.</p>\n<p>JD retail’s omni-channel initiatives are anticipated to have contributed well to top-line growth of the segment in the first quarter.</p>\n<p>Moreover, the company’s collaboration with Italian luxury brands Prada and MiuMiu, which bolstered its omni-channel efforts, might have been a positive.</p>\n<p>Furthermore, growing momentum of JD health that offers free online medical consultation and online pharmacy retail services is likely to get reflected in the company’s to-be-reported quarter’s results.</p>\n<p>Growing investments in research and development are also likely to have been encouraging for the company in the quarter under review.</p>\n<p>Additionally, the new businesses segment comprising technology, supply chain and logistics services is expected to have helped it in gaining traction across lower-tier cities in the first quarter.</p>\n<p>Moreover, the well-performing Jingxi Business Group is expected to have aided JD.com’s performance in the lower-tier cities.</p>\n<p>However, increasing fulfilment, marketing, and research and development expenses are likely to have been major risks to the company’s profitability in the quarter under review.</p>\n<p>Moreover, increasing competitive pressure from Alibaba in the e-commerce market might be reflected in first-quarter results.</p>\n<p><b>What Our Model Says</b></p>\n<p>Our proven model does not conclusively predict an earnings beat for JD.com this time around. The combination of a positiveEarnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with ourEarnings ESP Filter.</p>\n<p>JD.com has an Earnings ESP of -14.83% and a Zacks Rank #5 (Strong Sell), at present.</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>JD.com to Report Q1 Earnings: What's in the Cards?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJD.com to Report Q1 Earnings: What's in the Cards?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-18 21:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zacks.com/stock/news/1541348/jdcom-jd-to-report-q1-earnings-whats-in-the-cards?art_rec=quote-stock_overview-zacks_news-ID02-txt-1541348><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JD.com, Inc. is scheduled to report first-quarter 2021 results on May 19.\nFor the first quarter, the Zacks Consensus Estimate for revenues is pegged at $29.9 billion, indicating an improvement of ...</p>\n\n<a href=\"https://www.zacks.com/stock/news/1541348/jdcom-jd-to-report-q1-earnings-whats-in-the-cards?art_rec=quote-stock_overview-zacks_news-ID02-txt-1541348\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09618":"京东集团-SW","JD":"京东"},"source_url":"https://www.zacks.com/stock/news/1541348/jdcom-jd-to-report-q1-earnings-whats-in-the-cards?art_rec=quote-stock_overview-zacks_news-ID02-txt-1541348","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2135161248","content_text":"JD.com, Inc. is scheduled to report first-quarter 2021 results on May 19.\nFor the first quarter, the Zacks Consensus Estimate for revenues is pegged at $29.9 billion, indicating an improvement of 44.9% from the year-ago reported figure.\nFurther, the consensus mark for earnings is pegged at 39 cents per share, indicating a 39.3% rise from the previous-year reported figure.\nNotably, the company delivered an earnings surprise of 4.6% in the last reported quarter.\nJD.com, Inc. Price and EPS Surprise\nJD.com, Inc. price-eps-surprise | JD.com, Inc. Quote\nKey Factors to Note\nThe company’s JD Retail segment, comprising the e-commerce business, is expected to have been the key catalyst in the first quarter.\nThe launch of flagship stores of popular fashion and luxury brands like John Lobb, Stefano Ricci, Vivienne Westwoodon and Anya Hindmarch, among others, on JD.com is likely to have driven customer momentum, which in turn is expected to have aided the performance of JD Retail during the quarter-to-be-reported.\nJD retail’s omni-channel initiatives are anticipated to have contributed well to top-line growth of the segment in the first quarter.\nMoreover, the company’s collaboration with Italian luxury brands Prada and MiuMiu, which bolstered its omni-channel efforts, might have been a positive.\nFurthermore, growing momentum of JD health that offers free online medical consultation and online pharmacy retail services is likely to get reflected in the company’s to-be-reported quarter’s results.\nGrowing investments in research and development are also likely to have been encouraging for the company in the quarter under review.\nAdditionally, the new businesses segment comprising technology, supply chain and logistics services is expected to have helped it in gaining traction across lower-tier cities in the first quarter.\nMoreover, the well-performing Jingxi Business Group is expected to have aided JD.com’s performance in the lower-tier cities.\nHowever, increasing fulfilment, marketing, and research and development expenses are likely to have been major risks to the company’s profitability in the quarter under review.\nMoreover, increasing competitive pressure from Alibaba in the e-commerce market might be reflected in first-quarter results.\nWhat Our Model Says\nOur proven model does not conclusively predict an earnings beat for JD.com this time around. The combination of a positiveEarnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with ourEarnings ESP Filter.\nJD.com has an Earnings ESP of -14.83% and a Zacks Rank #5 (Strong Sell), at present.","news_type":1},"isVote":1,"tweetType":1,"viewCount":151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377586533,"gmtCreate":1619535900522,"gmtModify":1631891083317,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/377586533","repostId":"1123159959","repostType":4,"isVote":1,"tweetType":1,"viewCount":287,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":375249688,"gmtCreate":1619353091544,"gmtModify":1631891083322,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/375249688","repostId":"1159622467","repostType":4,"repost":{"id":"1159622467","pubTimestamp":1619337262,"share":"https://www.laohu8.com/m/news/1159622467?lang=&edition=full","pubTime":"2021-04-25 15:54","market":"us","language":"en","title":"\"The Stock Market Has Gone Crazy And Will Likely Go Even Crazier\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1159622467","media":"zerohedge","summary":"Chen Zhao, Founding Partner and Chief Strategist of Montreal-based Alpine Macro, has been analyzing ","content":"<p>Chen Zhao, Founding Partner and Chief Strategist of Montreal-based Alpine Macro, has been analyzing global financial markets for more than thirty years. Numerous investors worldwide know him as the long-serving Chief Strategist of BCA Research.</p>\n<p>Today, Zhao is confident about equity markets. He sees the ingredients for a strong recovery in the global economy, and he believes fears of higher inflation are overblown. He sees the potential for the Federal Reserve's monetary policy to inflate a new speculative bubble.<i><b>«This bubble is going to be a whole lot bigger than the tech bubble of the late nineties, and it will probably run a whole lot longer than we think»,</b></i>says Zhao in an in-depth conversation with The Market NZZ.</p>\n<p><b>His main concern is the growing conflict between the United States and China.</b>Today, the risk of escalation over Taiwan is greater than at any time in the last 40 years, Zhao warns.</p>\n<p>Mr. Zhao, in February and March, we have witnessed a sharp upward move in long term US bond yields, temporarily causing a sell-off in the Nasdaq. What do you make of this?</p>\n<blockquote>\n Whenever bond yields rise, you should conceptually decompose this movement into two stages. One is reflective, meaning\n <b>the bond market is trying to tell you something about the underlying economy.</b>Rising bond yields are reflective of stronger economic growth. However, a market selloff could also move into a phase where bond yields become too high, constraining economic activity. In my judgement, what we are witnessing right now is purely reflective. The ISM manufacturing index is at its highest level since 1983, the world economy is in a strong recovery mode. Higher yields are consistent with the economy getting stronger. Under these circumstances, I would be more concerned if bond yields did not rise.\n</blockquote>\n<p>Aren’t rising inflation expectations also playing a part?</p>\n<blockquote>\n <b>I don’t see a clear breakout in inflation expectations.</b>People forget that during the decade after the global financial crisis, inflation expectations have fallen apart. Markets became much more concerned about deflation. Inflation breakeven rates currently are between 2 and 2.2%, whereas the average range during the decade before 2009 was more like 2.5 to 3%. So inflation expectations are simply in the process of being normalized.\n</blockquote>\n<p>Do you see room for a further rise in yields?</p>\n<blockquote>\n Our model says ten year Treasury yields are pretty much at fair value today, at around 1.5%. But we know that if we have a cyclical move in financial markets, nothing stops at fair value. Markets always undershoot or overshoot. So I could see yields rise towards 2% or even a bit more.\n <b>If they approach 2%, we would be active buyers of long term Treasuries.</b>\n</blockquote>\n<p>Don’t you see structural inflation building up?</p>\n<blockquote>\n No, not at all. There is a widespread misunderstanding of this issue. Many people look at the fiscal position of the United States and see a budget deficit of almost 20% of GDP. The Fed balance sheet has expanded by $7 trillion since the beginning of the pandemic, M2 has exploded upward.\n <b>How can this not be inflationary? Well, in my experience, something that is too obvious is usually wrong.</b>\n</blockquote>\n<p>How so?</p>\n<blockquote>\n What happened is this: For all of 2020, the US government unleashed $3.5 trillion in various rescue packages, as a result of which the federal government debt rose by $3.6 trillion. At the same time, the household sector’s disposable income increased by $3.5 trillion, and household savings shot up by $5.5 trillion. In other words, American households not only saved up all the transfer payments they received from the government, but they even saved $2 trillion more from their own income.\n <b>These rescue programs did absolutely nothing to generate aggregate final demand or GDP growth. What we have seen was not a fiscal stimulus to boost aggregate demand, but a transfer payment. This was no different than a one-time tax cut.</b>We know that people’s spending behaviour is determined by their outlook for sustainable income.\n <b>If you give them a one-time tax cut, they will save it. This is what the Permanent Income Hypothesis says and this is what has happened.</b>\n</blockquote>\n<p>Don’t you think there is a huge amount of pent-up demand that will be released once the economy fully reopens?</p>\n<blockquote>\n Yes, there will be a demand surge. Consumption spending has been repressed for over a year as a result of Covid-19 related restrictions. When the world economy reopens, this spending will be released. But this is not inflationary, as the boom will be temporary. People won’t party for the next twenty years. They will party for the next six months or so.\n <b>For inflation to be a true threat, you need aggregate demand exceeding aggregate supply on a sustainable basis. I don’t see that happening any time soon.</b>The government subsidies simply amount to a huge balance sheet swap: government debt as a share of GDP has gone up, while consumers’ net worth has gone up even more. This balance sheet swap has nothing to do with excessive aggregate demand.\n</blockquote>\n<p>Does that also mean you don’t see a structural bear market for bonds, where yields would drift higher over the coming years?</p>\n<blockquote>\n Correct,\n <b>I don’t see the drivers for structurally higher yields.</b>That’s why I think that ten-year Treasury yields above 2% would represent a good buying opportunity.\n</blockquote>\n<p>What would it take for you to change your mind?</p>\n<blockquote>\n <b>I will change my mind if the government took over and built lots of roads and bridges and have it all financed by the Fed.</b>\n</blockquote>\n<p>Isn’t that what the $2.3 trillion Biden infrastructure plan will do?</p>\n<blockquote>\n <b>This proposed package is a step towards that kind of transition. But don’t forget, this is a rather small piece of cake, because it envisions spending roughly $2.2 trillion over eight years, so each year it would add only about 0.8 or 0.9% of GDP adjusted for inflation.</b>On top of that, Biden is proposing higher taxes to fund it. So his infrastructure plan creates some growth on one hand, while taking it away with higher taxes on the other hand. Its net impact will only be around 0.4 or 0.5% of GDP per year. This won’t be a game changer in terms of inflation.\n</blockquote>\n<p>What else would tell you that we are indeed moving through a profound transition towards higher inflation and higher interest rates?</p>\n<blockquote>\n In my view,\n <b>central banks have been completely wrong in their thinking about the Phillips Curve for the past 30 years,</b>meaning that every time the labor market got too strong, they felt they had to raise rates, because they feared wage inflation would kick in. But we know now that there are a lot of things standing in the way between a strong labor market and actual wage inflation. In an environment of rising productivity, you can have higher wages and still lower inflation.\n <b>Fundamentally speaking, free market capitalism is deflationary.</b>\n</blockquote>\n<p>Why?</p>\n<blockquote>\n <b>Neither you nor I are paid more than our marginal output. In our society as a whole, labor is always paid at or below its marginal output. In a socialist economy, it’s the other way round, because workers are usually paid more than their marginal output. So unless we change our system into a much more socialist type, and unless we had a substantial decline in labor productivity, I don’t see a return of structural inflation.</b>\n</blockquote>\n<p>What is different today compared to the 1970s, when we had structural inflation in our Western economies?</p>\n<blockquote>\n In the 1970s, we had powerful unions in the US which drove up labor cost but kept productivity low. This was the legacy of President Roosevelt’s New Deal which, in my view, was very socialist. In addition, you had a collapse in the Bretton Woods System which drove down the Dollar by 50%, leading to a spike in goods price inflation.\n <b>Finally, the US was a manufacturing power in the 1970s and the oil crisis created enormous stagflation pressures. None of this is true today.</b>\n</blockquote>\n<p>There is a tug of war going on between the Fed and financial markets: The Fed says they will stay dovish for a long time, while markets expect a lift-off in short term rates next year. Who is right?</p>\n<blockquote>\n <b>If you think about last decade, Fed policy was always too tight: The projected interest rate path by the Fed, as seen by the so-called Dot Plots, was always higher than market expectations.</b>Because of that, we had a number of financial tremors: The taper tantrum in 2013, the collapse in commodity prices in 2015, the collapse in stock markets in late 2018. We had almost ten years of undershooting inflation and periodic stock market chaos as a result of monetary policy being too tight. In the end, the Fed always caved in and moved towards the market.\n <b>Now it’s the other way round: The Fed is more dovish than market expectations. The market has priced in four or five rate hikes through 2023, while the Fed suggests they won’t do anything before 2024.</b>\n</blockquote>\n<p>Which side is right?</p>\n<blockquote>\n If you only looked at the lessons of the last decade, you’d say the market is right. But\n <b>the difference today is that the Fed has abandoned its old reaction function and wants to stay ultra-stimulative</b>until inflation is above 2% for a while. The Fed is now adamantly saying they are\n <b>willing to be late this time,</b>allowing the economy and inflation to run hotter than they would have in the old days. If that’s the case, then markets may be wrong because they still assume the old reaction function of the Fed. So we don’t know yet, but it’s possible that the Fed will stay dovish much longer than markets think.\n</blockquote>\n<p>What would the consequences of this new Fed policy be?</p>\n<blockquote>\n One conclusion is pretty obvious:\n <b>The stock market has already gone crazy and will likely go even crazier.</b>If you read the work of Charles Kindleberger, you know that asset bubbles are perennial, they grow back every ten years or so, and they are usually driven by easy monetary policy and lots of liquidity. So this new reaction function by the Fed, plus the support from fiscal policy, means that markets will go through a very bubbly period.\n</blockquote>\n<p>How big can this bubble get?</p>\n<blockquote>\n If you look at history, all speculative bubbles got killed by tightening monetary policy.\n <b>You never had a bubble burst while monetary policy was still easy.</b>Asset bubbles pop when central banks tighten policy to a point of yield curve inversion. Today, we’re far away from that.\n <b>That’s why I think this bubble could get a whole lot bigger.</b>\n</blockquote>\n<p>Would you say we’re only at the beginning of this process?</p>\n<blockquote>\n I’d say we are in the early stages of a stock market bubble, especially in the United States.\n <b>There are many signs of speculative behaviour,</b>be it Bitcoin, Gamestop, and so on. But it’s not as pervasive yet as it was in the late 1990s. When the technology bubble burst in 2000, everybody was bullish. Today, many people, even large banks, are still bearish. When they throw in the towel, then the final phase will begin.\n <b>This bubble is going to be a whole lot bigger than the 90s and it will probably run a whole lot longer than we think.</b>\n</blockquote>\n<p>You don’t see the risk of the bond market assuming the job of tightening conditions by rising long term yields?</p>\n<blockquote>\n Historically, rising yields hurt the economy and stock prices only when both the long and the short end of the curve were moving up. It’s usually not the case to see the long end of the curve move way up while short term rates remain pressed down, as they are today. There is a limit to the pain long term rates can create for the economy, because borrowers can always slide down the maturity curve to avoid having to pay higher interest rates.\n <b>So if you put it all together, I think ten year yields can’t move much higher than their fair value, while short term rates remain at zero.</b>\n</blockquote>\n<p>What will happen then?</p>\n<blockquote>\n <b>The most likely scenario I see today is that we’ll have an expanding equity bubble for the next two years, with multiples going way higher. Then comes the point where the Fed just can’t remain dovish anymore. They will raise rates. At that point, the end would be nigh. a bursting asset bubble would be inevitable, and this is always very deflationary. When that happens, we could see zero nominal yields in the U.S.</b>\n</blockquote>\n<p>Late last year, everyone was bearish on the dollar. Now the Greenback has surprised by strengthening since January. Why was that?</p>\n<blockquote>\n <b>Don’t forget that the dollar had dropped almost 11% last year.</b>Getting into 2021, it was very oversold, jammed with shorts. So a natural rebound from this position was to be expected. Going forward, I see the prerequisites in place for a further weakening.\n <b>In the last 20 years, every time the world economy slumped, the dollar strengthened, and every time the world economy got better, the dollar weakened. Right now, we see an improving world economy, hence the dollar should weaken.</b>\n</blockquote>\n<p>What’s the reason for that pattern?</p>\n<blockquote>\n <b>People say the dollar is a safe haven currency, but I don’t see it that way.</b>The Yen and the Swiss Franc are much better safe havens. From the 1970s through the 1990s, the dollar was pro-cyclical, i.e. strengthening with a stronger world economy. This changed around the year 2000. The reason in my view is that large parts of the developed world are in a liquidity trap. And in a liquidity trap, there is infinite demand for dollars, because the dollar demand curve is flat. So every time where we have an economic slump, it means the liquidity trap is deepening, hence the demand for dollars is going up. And every time the economy gets better, the liquidity trap is getting shallower, with demand for dollars shrinking.\n <b>So, if I take the view that the world economy in the second half of this year is starting a boom, then logically, we cannot have a stronger dollar. We have never had a booming world economy and a stronger dollar since 2000.</b>\n</blockquote>\n<p>When you look at world equity markets, which geographies and sectors currently offer the best opportunities?</p>\n<blockquote>\n I am very value conscious, so\n <b>I like European stocks, they have underperformed for a long time</b>. I would overweight Germany, France and Italy; their valuations are way more attractive than the US market. If we have a world economic boom, these markets will do very well. The US is difficult to underweight, because it’s so huge, but on the fringe I would suggest to overweight non-US stocks, i.e. Europe and Japan.\n <b>I think the Japanese market can have one last, big upleg before this bull market is over.</b>\n</blockquote>\n<p>An economic boom and a lower dollar should be bullish for emerging markets, right?</p>\n<blockquote>\n We must keep in mind that\n <b>today’s emerging markets are very different from 20 years ago.</b>Today, more than 40% of the MSCI EM index is made up by China. In China, the equity market is predominantly driven by big tech, with stocks like Alibaba and Tencent. So China has a similar issue like the US tech sector: In an environment of rising bond yields, these high-multiple stocks tend to underperform. Besides, China has begun to tighten policy, which is a negative for EM performance as a whole. I would shift more towards the commodity segment, meaning Latin America. They have been beaten down badly because of the Bolsonaro screwup in the pandemic crisis, but for every grief there is a price, and\n <b>I think Brazilian assets are cheap enough to absorb all the negatives.</b>I particularly like commodity markets like Chile. I also like Australia and Canada. These are places where value is better, and they are well positioned for rising commodity prices.\n</blockquote>\n<p>We see a world of inverted roles: After the financial crisis, China embarked on a huge monetary and fiscal stimulus. Today it’s the U.S., while China is tightening. What’s going on?</p>\n<blockquote>\n If you look at\n <b>the net increase in Chinese fiscal deficit in terms of fighting the pandemic, it was about 4.7% last year, as opposed to about 15% of GDP in the US.</b>Of course, China got the pandemic under control earlier, but that’s not all. The key thing is, their fiscal deficit spending is 100% infrastructure, whereas in the Western world we talk about 10 to 20% of GDP being dumped into the system through transfer payments. The fiscal multiplier in China is huge, while in the US it is practically zero. The second thing is this:\n <b>After 2008, China went on a construction spree, financed by an avalanche of credit creation. For ten years since then, the central government has been concerned about the economy getting overleveraged. This time, they are comparatively stingy and Beijing wants to slow down the credit creation process early.</b>\n</blockquote>\n<p>The stock market in China is not happy about that.</p>\n<blockquote>\n <b>The stock market is very sensitive to changes in liquidity conditions.</b>If credit growth is slowing down, stocks perform poorly. So it’s not a great time to buy Chinese equities right now. But from a broader economic point of view, I don’t think we’ll see the kind of tightening shock in China like we saw in 2015. So even though it might not be a great time to buy stocks due to liquidity conditions, I think the Chinese economy will do reasonably well, which also means a good environment for commodity prices.\n</blockquote>\n<p>What makes you confident that policy makers in China won’t commit a mistake and tighten too much?</p>\n<blockquote>\n They have not created much credit excesses this time, so there is no reason for them to tighten aggressively.\n <b>Geopolitically, the leadership in China has reached the conclusion that America is trying to suffocate the Chinese economy. So they have to maintain growth momentum by letting foreign investment money coming in.</b>\n</blockquote>\n<p>Has there been a change in thinking towards the US in Beijing since Joe Biden assumed the presidency?</p>\n<blockquote>\n <b>I think both sides are too far on the path of great power rivalry already.</b>America represents the incumbent power, and China is the rising power that is challenging the US. I personally believe that\n <b>we in the West don’t get the full picture of Sino-US confrontation. We only get the western side of the story,</b>we never get to see the Chinese perspective through our media.\n</blockquote>\n<p>What is the Chinese perspective?</p>\n<blockquote>\n <b>Within China, there is a strong feeling that the Americans have destroyed the bilateral relationship to cater to purely domestic political needs,</b>starting with Donald Trump. They feel that they are treated unfairly, in a confrontation that is unprovoked. Even when it comes to Hong Kong, we only know Beijing violated the concept of One Country Two Systems by imposing the new security law, but\n <b>how about the social upheavals and civil unrest in the two years leading up to the change of law</b>? No one said anything here. The US accused the Chinese of not playing by the rules, but the Chinese say they have played by the rules that were written by the US. They have joined the WTO and have slowly opened up their system. They signed the Paris Treaty. They have honoured all the international obligations, then Trump came and uprooted the very system that America had built. So the Chinese feel that the Americans suddenly want to change the rules again.\n <b>The consensus in Beijing now is that the US wants to derail China. Once you have a consensus like that, it’s difficult to change.</b>\n</blockquote>\n<p>Will Biden continue on that path?</p>\n<blockquote>\n Biden has inherited Trump’s policies. That’s unfortunate, but there’s not much he can do. Trump’s China policy served his domestic agenda, hitting China in order to score points at home. As a result of that, public opinion of China spiralled down. Biden can’t turn that back. And again,\n <b>the consensus in China is that America wants to keep China down. We must prepare for a long confrontation.</b>\n</blockquote>\n<p>Do you see the risk of that confrontation turning hot?</p>\n<blockquote>\n <b>Washington is playing with the very nerve of the Chinese national interest, which is Taiwan.</b>Since the beginning of bilateral diplomatic relations in the 1970s, one core commitment of the US was the One China Policy, avoiding official contact with the government in Taiwan. But Trump changed that, and Biden continues to follow the Trump script. This is very dangerous. Since 1979, there has been a tacit understanding on both sides that if the US does not encourage separation, the Chinese side will not resort to any military action. Now this tacit agreement has been thrown out of the window. Because Washington has seemingly encouraged official contacts with Taiwan, China feels the need to show their commitment to retake the island to maintain territorial integrity. That’s why we have incursions into Taiwanese air space practically every day. There is a reaction feedback going back and forth.\n <b>I think there is a strong consensus among the Chinese leadership that within the next five years, if the US continues along this path, they might as well just take the risk of invading Taiwan. Then, all bets are off. The risk of some kind of confrontation is the highest in 40 years.</b>\n</blockquote>","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 Stock Market Has Gone Crazy And Will Likely Go Even Crazier\"</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\"The Stock Market Has Gone Crazy And Will Likely Go Even Crazier\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-25 15:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/stock-market-has-gone-crazy-and-will-likely-go-even-crazier><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chen Zhao, Founding Partner and Chief Strategist of Montreal-based Alpine Macro, has been analyzing global financial markets for more than thirty years. Numerous investors worldwide know him as the ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/stock-market-has-gone-crazy-and-will-likely-go-even-crazier\">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",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/stock-market-has-gone-crazy-and-will-likely-go-even-crazier","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159622467","content_text":"Chen Zhao, Founding Partner and Chief Strategist of Montreal-based Alpine Macro, has been analyzing global financial markets for more than thirty years. Numerous investors worldwide know him as the long-serving Chief Strategist of BCA Research.\nToday, Zhao is confident about equity markets. He sees the ingredients for a strong recovery in the global economy, and he believes fears of higher inflation are overblown. He sees the potential for the Federal Reserve's monetary policy to inflate a new speculative bubble.«This bubble is going to be a whole lot bigger than the tech bubble of the late nineties, and it will probably run a whole lot longer than we think»,says Zhao in an in-depth conversation with The Market NZZ.\nHis main concern is the growing conflict between the United States and China.Today, the risk of escalation over Taiwan is greater than at any time in the last 40 years, Zhao warns.\nMr. Zhao, in February and March, we have witnessed a sharp upward move in long term US bond yields, temporarily causing a sell-off in the Nasdaq. What do you make of this?\n\n Whenever bond yields rise, you should conceptually decompose this movement into two stages. One is reflective, meaning\n the bond market is trying to tell you something about the underlying economy.Rising bond yields are reflective of stronger economic growth. However, a market selloff could also move into a phase where bond yields become too high, constraining economic activity. In my judgement, what we are witnessing right now is purely reflective. The ISM manufacturing index is at its highest level since 1983, the world economy is in a strong recovery mode. Higher yields are consistent with the economy getting stronger. Under these circumstances, I would be more concerned if bond yields did not rise.\n\nAren’t rising inflation expectations also playing a part?\n\nI don’t see a clear breakout in inflation expectations.People forget that during the decade after the global financial crisis, inflation expectations have fallen apart. Markets became much more concerned about deflation. Inflation breakeven rates currently are between 2 and 2.2%, whereas the average range during the decade before 2009 was more like 2.5 to 3%. So inflation expectations are simply in the process of being normalized.\n\nDo you see room for a further rise in yields?\n\n Our model says ten year Treasury yields are pretty much at fair value today, at around 1.5%. But we know that if we have a cyclical move in financial markets, nothing stops at fair value. Markets always undershoot or overshoot. So I could see yields rise towards 2% or even a bit more.\n If they approach 2%, we would be active buyers of long term Treasuries.\n\nDon’t you see structural inflation building up?\n\n No, not at all. There is a widespread misunderstanding of this issue. Many people look at the fiscal position of the United States and see a budget deficit of almost 20% of GDP. The Fed balance sheet has expanded by $7 trillion since the beginning of the pandemic, M2 has exploded upward.\n How can this not be inflationary? Well, in my experience, something that is too obvious is usually wrong.\n\nHow so?\n\n What happened is this: For all of 2020, the US government unleashed $3.5 trillion in various rescue packages, as a result of which the federal government debt rose by $3.6 trillion. At the same time, the household sector’s disposable income increased by $3.5 trillion, and household savings shot up by $5.5 trillion. In other words, American households not only saved up all the transfer payments they received from the government, but they even saved $2 trillion more from their own income.\n These rescue programs did absolutely nothing to generate aggregate final demand or GDP growth. What we have seen was not a fiscal stimulus to boost aggregate demand, but a transfer payment. This was no different than a one-time tax cut.We know that people’s spending behaviour is determined by their outlook for sustainable income.\n If you give them a one-time tax cut, they will save it. This is what the Permanent Income Hypothesis says and this is what has happened.\n\nDon’t you think there is a huge amount of pent-up demand that will be released once the economy fully reopens?\n\n Yes, there will be a demand surge. Consumption spending has been repressed for over a year as a result of Covid-19 related restrictions. When the world economy reopens, this spending will be released. But this is not inflationary, as the boom will be temporary. People won’t party for the next twenty years. They will party for the next six months or so.\n For inflation to be a true threat, you need aggregate demand exceeding aggregate supply on a sustainable basis. I don’t see that happening any time soon.The government subsidies simply amount to a huge balance sheet swap: government debt as a share of GDP has gone up, while consumers’ net worth has gone up even more. This balance sheet swap has nothing to do with excessive aggregate demand.\n\nDoes that also mean you don’t see a structural bear market for bonds, where yields would drift higher over the coming years?\n\n Correct,\n I don’t see the drivers for structurally higher yields.That’s why I think that ten-year Treasury yields above 2% would represent a good buying opportunity.\n\nWhat would it take for you to change your mind?\n\nI will change my mind if the government took over and built lots of roads and bridges and have it all financed by the Fed.\n\nIsn’t that what the $2.3 trillion Biden infrastructure plan will do?\n\nThis proposed package is a step towards that kind of transition. But don’t forget, this is a rather small piece of cake, because it envisions spending roughly $2.2 trillion over eight years, so each year it would add only about 0.8 or 0.9% of GDP adjusted for inflation.On top of that, Biden is proposing higher taxes to fund it. So his infrastructure plan creates some growth on one hand, while taking it away with higher taxes on the other hand. Its net impact will only be around 0.4 or 0.5% of GDP per year. This won’t be a game changer in terms of inflation.\n\nWhat else would tell you that we are indeed moving through a profound transition towards higher inflation and higher interest rates?\n\n In my view,\n central banks have been completely wrong in their thinking about the Phillips Curve for the past 30 years,meaning that every time the labor market got too strong, they felt they had to raise rates, because they feared wage inflation would kick in. But we know now that there are a lot of things standing in the way between a strong labor market and actual wage inflation. In an environment of rising productivity, you can have higher wages and still lower inflation.\n Fundamentally speaking, free market capitalism is deflationary.\n\nWhy?\n\nNeither you nor I are paid more than our marginal output. In our society as a whole, labor is always paid at or below its marginal output. In a socialist economy, it’s the other way round, because workers are usually paid more than their marginal output. So unless we change our system into a much more socialist type, and unless we had a substantial decline in labor productivity, I don’t see a return of structural inflation.\n\nWhat is different today compared to the 1970s, when we had structural inflation in our Western economies?\n\n In the 1970s, we had powerful unions in the US which drove up labor cost but kept productivity low. This was the legacy of President Roosevelt’s New Deal which, in my view, was very socialist. In addition, you had a collapse in the Bretton Woods System which drove down the Dollar by 50%, leading to a spike in goods price inflation.\n Finally, the US was a manufacturing power in the 1970s and the oil crisis created enormous stagflation pressures. None of this is true today.\n\nThere is a tug of war going on between the Fed and financial markets: The Fed says they will stay dovish for a long time, while markets expect a lift-off in short term rates next year. Who is right?\n\nIf you think about last decade, Fed policy was always too tight: The projected interest rate path by the Fed, as seen by the so-called Dot Plots, was always higher than market expectations.Because of that, we had a number of financial tremors: The taper tantrum in 2013, the collapse in commodity prices in 2015, the collapse in stock markets in late 2018. We had almost ten years of undershooting inflation and periodic stock market chaos as a result of monetary policy being too tight. In the end, the Fed always caved in and moved towards the market.\n Now it’s the other way round: The Fed is more dovish than market expectations. The market has priced in four or five rate hikes through 2023, while the Fed suggests they won’t do anything before 2024.\n\nWhich side is right?\n\n If you only looked at the lessons of the last decade, you’d say the market is right. But\n the difference today is that the Fed has abandoned its old reaction function and wants to stay ultra-stimulativeuntil inflation is above 2% for a while. The Fed is now adamantly saying they are\n willing to be late this time,allowing the economy and inflation to run hotter than they would have in the old days. If that’s the case, then markets may be wrong because they still assume the old reaction function of the Fed. So we don’t know yet, but it’s possible that the Fed will stay dovish much longer than markets think.\n\nWhat would the consequences of this new Fed policy be?\n\n One conclusion is pretty obvious:\n The stock market has already gone crazy and will likely go even crazier.If you read the work of Charles Kindleberger, you know that asset bubbles are perennial, they grow back every ten years or so, and they are usually driven by easy monetary policy and lots of liquidity. So this new reaction function by the Fed, plus the support from fiscal policy, means that markets will go through a very bubbly period.\n\nHow big can this bubble get?\n\n If you look at history, all speculative bubbles got killed by tightening monetary policy.\n You never had a bubble burst while monetary policy was still easy.Asset bubbles pop when central banks tighten policy to a point of yield curve inversion. Today, we’re far away from that.\n That’s why I think this bubble could get a whole lot bigger.\n\nWould you say we’re only at the beginning of this process?\n\n I’d say we are in the early stages of a stock market bubble, especially in the United States.\n There are many signs of speculative behaviour,be it Bitcoin, Gamestop, and so on. But it’s not as pervasive yet as it was in the late 1990s. When the technology bubble burst in 2000, everybody was bullish. Today, many people, even large banks, are still bearish. When they throw in the towel, then the final phase will begin.\n This bubble is going to be a whole lot bigger than the 90s and it will probably run a whole lot longer than we think.\n\nYou don’t see the risk of the bond market assuming the job of tightening conditions by rising long term yields?\n\n Historically, rising yields hurt the economy and stock prices only when both the long and the short end of the curve were moving up. It’s usually not the case to see the long end of the curve move way up while short term rates remain pressed down, as they are today. There is a limit to the pain long term rates can create for the economy, because borrowers can always slide down the maturity curve to avoid having to pay higher interest rates.\n So if you put it all together, I think ten year yields can’t move much higher than their fair value, while short term rates remain at zero.\n\nWhat will happen then?\n\nThe most likely scenario I see today is that we’ll have an expanding equity bubble for the next two years, with multiples going way higher. Then comes the point where the Fed just can’t remain dovish anymore. They will raise rates. At that point, the end would be nigh. a bursting asset bubble would be inevitable, and this is always very deflationary. When that happens, we could see zero nominal yields in the U.S.\n\nLate last year, everyone was bearish on the dollar. Now the Greenback has surprised by strengthening since January. Why was that?\n\nDon’t forget that the dollar had dropped almost 11% last year.Getting into 2021, it was very oversold, jammed with shorts. So a natural rebound from this position was to be expected. Going forward, I see the prerequisites in place for a further weakening.\n In the last 20 years, every time the world economy slumped, the dollar strengthened, and every time the world economy got better, the dollar weakened. Right now, we see an improving world economy, hence the dollar should weaken.\n\nWhat’s the reason for that pattern?\n\nPeople say the dollar is a safe haven currency, but I don’t see it that way.The Yen and the Swiss Franc are much better safe havens. From the 1970s through the 1990s, the dollar was pro-cyclical, i.e. strengthening with a stronger world economy. This changed around the year 2000. The reason in my view is that large parts of the developed world are in a liquidity trap. And in a liquidity trap, there is infinite demand for dollars, because the dollar demand curve is flat. So every time where we have an economic slump, it means the liquidity trap is deepening, hence the demand for dollars is going up. And every time the economy gets better, the liquidity trap is getting shallower, with demand for dollars shrinking.\n So, if I take the view that the world economy in the second half of this year is starting a boom, then logically, we cannot have a stronger dollar. We have never had a booming world economy and a stronger dollar since 2000.\n\nWhen you look at world equity markets, which geographies and sectors currently offer the best opportunities?\n\n I am very value conscious, so\n I like European stocks, they have underperformed for a long time. I would overweight Germany, France and Italy; their valuations are way more attractive than the US market. If we have a world economic boom, these markets will do very well. The US is difficult to underweight, because it’s so huge, but on the fringe I would suggest to overweight non-US stocks, i.e. Europe and Japan.\n I think the Japanese market can have one last, big upleg before this bull market is over.\n\nAn economic boom and a lower dollar should be bullish for emerging markets, right?\n\n We must keep in mind that\n today’s emerging markets are very different from 20 years ago.Today, more than 40% of the MSCI EM index is made up by China. In China, the equity market is predominantly driven by big tech, with stocks like Alibaba and Tencent. So China has a similar issue like the US tech sector: In an environment of rising bond yields, these high-multiple stocks tend to underperform. Besides, China has begun to tighten policy, which is a negative for EM performance as a whole. I would shift more towards the commodity segment, meaning Latin America. They have been beaten down badly because of the Bolsonaro screwup in the pandemic crisis, but for every grief there is a price, and\n I think Brazilian assets are cheap enough to absorb all the negatives.I particularly like commodity markets like Chile. I also like Australia and Canada. These are places where value is better, and they are well positioned for rising commodity prices.\n\nWe see a world of inverted roles: After the financial crisis, China embarked on a huge monetary and fiscal stimulus. Today it’s the U.S., while China is tightening. What’s going on?\n\n If you look at\n the net increase in Chinese fiscal deficit in terms of fighting the pandemic, it was about 4.7% last year, as opposed to about 15% of GDP in the US.Of course, China got the pandemic under control earlier, but that’s not all. The key thing is, their fiscal deficit spending is 100% infrastructure, whereas in the Western world we talk about 10 to 20% of GDP being dumped into the system through transfer payments. The fiscal multiplier in China is huge, while in the US it is practically zero. The second thing is this:\n After 2008, China went on a construction spree, financed by an avalanche of credit creation. For ten years since then, the central government has been concerned about the economy getting overleveraged. This time, they are comparatively stingy and Beijing wants to slow down the credit creation process early.\n\nThe stock market in China is not happy about that.\n\nThe stock market is very sensitive to changes in liquidity conditions.If credit growth is slowing down, stocks perform poorly. So it’s not a great time to buy Chinese equities right now. But from a broader economic point of view, I don’t think we’ll see the kind of tightening shock in China like we saw in 2015. So even though it might not be a great time to buy stocks due to liquidity conditions, I think the Chinese economy will do reasonably well, which also means a good environment for commodity prices.\n\nWhat makes you confident that policy makers in China won’t commit a mistake and tighten too much?\n\n They have not created much credit excesses this time, so there is no reason for them to tighten aggressively.\n Geopolitically, the leadership in China has reached the conclusion that America is trying to suffocate the Chinese economy. So they have to maintain growth momentum by letting foreign investment money coming in.\n\nHas there been a change in thinking towards the US in Beijing since Joe Biden assumed the presidency?\n\nI think both sides are too far on the path of great power rivalry already.America represents the incumbent power, and China is the rising power that is challenging the US. I personally believe that\n we in the West don’t get the full picture of Sino-US confrontation. We only get the western side of the story,we never get to see the Chinese perspective through our media.\n\nWhat is the Chinese perspective?\n\nWithin China, there is a strong feeling that the Americans have destroyed the bilateral relationship to cater to purely domestic political needs,starting with Donald Trump. They feel that they are treated unfairly, in a confrontation that is unprovoked. Even when it comes to Hong Kong, we only know Beijing violated the concept of One Country Two Systems by imposing the new security law, but\n how about the social upheavals and civil unrest in the two years leading up to the change of law? No one said anything here. The US accused the Chinese of not playing by the rules, but the Chinese say they have played by the rules that were written by the US. They have joined the WTO and have slowly opened up their system. They signed the Paris Treaty. They have honoured all the international obligations, then Trump came and uprooted the very system that America had built. So the Chinese feel that the Americans suddenly want to change the rules again.\n The consensus in Beijing now is that the US wants to derail China. Once you have a consensus like that, it’s difficult to change.\n\nWill Biden continue on that path?\n\n Biden has inherited Trump’s policies. That’s unfortunate, but there’s not much he can do. Trump’s China policy served his domestic agenda, hitting China in order to score points at home. As a result of that, public opinion of China spiralled down. Biden can’t turn that back. And again,\n the consensus in China is that America wants to keep China down. We must prepare for a long confrontation.\n\nDo you see the risk of that confrontation turning hot?\n\nWashington is playing with the very nerve of the Chinese national interest, which is Taiwan.Since the beginning of bilateral diplomatic relations in the 1970s, one core commitment of the US was the One China Policy, avoiding official contact with the government in Taiwan. But Trump changed that, and Biden continues to follow the Trump script. This is very dangerous. Since 1979, there has been a tacit understanding on both sides that if the US does not encourage separation, the Chinese side will not resort to any military action. Now this tacit agreement has been thrown out of the window. Because Washington has seemingly encouraged official contacts with Taiwan, China feels the need to show their commitment to retake the island to maintain territorial integrity. That’s why we have incursions into Taiwanese air space practically every day. There is a reaction feedback going back and forth.\n I think there is a strong consensus among the Chinese leadership that within the next five years, if the US continues along this path, they might as well just take the risk of invading Taiwan. Then, all bets are off. The risk of some kind of confrontation is the highest in 40 years.","news_type":1},"isVote":1,"tweetType":1,"viewCount":269,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":375956237,"gmtCreate":1619284204729,"gmtModify":1631891083324,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/375956237","repostId":"1166519043","repostType":4,"isVote":1,"tweetType":1,"viewCount":301,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344801573,"gmtCreate":1618392374692,"gmtModify":1631891083326,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/344801573","repostId":"2127454000","repostType":4,"isVote":1,"tweetType":1,"viewCount":147,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345595649,"gmtCreate":1618322652081,"gmtModify":1634293722056,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/345595649","repostId":"1150541075","repostType":4,"isVote":1,"tweetType":1,"viewCount":87,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345596535,"gmtCreate":1618322582627,"gmtModify":1634293723194,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Buy&nbsp;","listText":"Buy&nbsp;","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/345596535","repostId":"1116920076","repostType":4,"repost":{"id":"1116920076","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618321240,"share":"https://www.laohu8.com/m/news/1116920076?lang=&edition=full","pubTime":"2021-04-13 21:40","market":"us","language":"en","title":"GameStop stock was down more than 3% after dropping 26.3% amid 6-day losing streak through Monday","url":"https://stock-news.laohu8.com/highlight/detail?id=1116920076","media":"Tiger Newspress","summary":"(April 13) GameStop stock was down more than 3% after dropping 26.3% amid 6-day losing streak throug","content":"<p>(April 13)&nbsp;GameStop stock was down more than 3% after dropping 26.3% amid 6-day losing streak through Monday</p><p><img src=\"https://static.tigerbbs.com/96692890a452731e6503e7d11efe6f2c\" tg-width=\"659\" tg-height=\"564\" referrerpolicy=\"no-referrer\"></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>GameStop stock was down more than 3% after dropping 26.3% amid 6-day losing streak through Monday</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop stock was down more than 3% after dropping 26.3% amid 6-day losing streak through Monday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-04-13 21:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(April 13)&nbsp;GameStop stock was down more than 3% after dropping 26.3% amid 6-day losing streak through Monday</p><p><img src=\"https://static.tigerbbs.com/96692890a452731e6503e7d11efe6f2c\" tg-width=\"659\" tg-height=\"564\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116920076","content_text":"(April 13) GameStop stock was down more than 3% after dropping 26.3% amid 6-day losing streak through Monday","news_type":1},"isVote":1,"tweetType":1,"viewCount":34,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348745675,"gmtCreate":1617968223597,"gmtModify":1634295472098,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348745675","repostId":"1184496379","repostType":4,"isVote":1,"tweetType":1,"viewCount":45,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348745085,"gmtCreate":1617968189647,"gmtModify":1634295472459,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348745085","repostId":"1184496379","repostType":4,"repost":{"id":"1184496379","pubTimestamp":1617967907,"share":"https://www.laohu8.com/m/news/1184496379?lang=&edition=full","pubTime":"2021-04-09 19:31","market":"hk","language":"en","title":"Gojek, Tokopedia Seek Investor Approval After Deciding Merger Terms","url":"https://stock-news.laohu8.com/highlight/detail?id=1184496379","media":"Bloomberg","summary":"The startups’ management and boards are in agreement\nIndonesia’s two largest startups could dominate","content":"<ul>\n <li>The startups’ management and boards are in agreement</li>\n <li>Indonesia’s two largest startups could dominate the market</li>\n</ul>\n<p>Gojek&nbsp;and&nbsp;Tokopedia&nbsp;have decided on terms and are seeking investor approval for a merger that could create Indonesia’s largest internet company, a person familiar with the matter said, putting the deal on track for completion as soon as over the summer.</p>\n<p>The managements and boards of both startups have agreed on how to proceed with the merger and are now formally seeking approval for the deal from shareholders through a so-called consent package, the person said, asking not to be identified discussing a private matter. The management teams are aligned on strategy and their boards have given significant support, the person added.</p>\n<p>The two Indonesian tech pioneers have common investors, including Google,Temasek Holdings Pte&nbsp;and&nbsp;Sequoia Capital India. Tokopedia is also backed by&nbsp;Alibaba Group Holding Ltd., which has its own e-commerce unit in the region,Lazada.</p>\n<p>Indonesia’s two most valuable startups are in the final stages of completing a tie-up that would make them the biggest players in e-commerce and ride-hailing in Southeast Asia’s most populous nation. The two companies have discussed a variety of scenarios with the goal of ultimately listing the combined entity in both Jakarta and the U.S., which could be worth as much as&nbsp;$40 billion.</p>\n<p>Gojek had been in discussions with ride-hailing rival&nbsp;Grab Holdings Inc.&nbsp;about a possible merger, but those talks dragged on and ultimately collapsed. Among other issues, that deal would likely have faced regulatory opposition since it would combine the two major providers of on-demand rides and delivery services in several Southeast Asian markets.</p>\n<p>Grab is now on the verge of listing via a merger with&nbsp;Altimeter Capital’s first blank-check company, in a deal that could value the Southeast Asian ride-hailing giant at about $40 billion, people familiar with the matter have&nbsp;said.</p>","source":"lsy1584095487587","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>Gojek, Tokopedia Seek Investor Approval After Deciding Merger Terms</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\">\nGojek, Tokopedia Seek Investor Approval After Deciding Merger Terms\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 19:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-09/gojek-tokopedia-seek-investor-okay-after-deciding-merger-terms?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The startups’ management and boards are in agreement\nIndonesia’s two largest startups could dominate the market\n\nGojek and Tokopedia have decided on terms and are seeking investor approval for a ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-09/gojek-tokopedia-seek-investor-okay-after-deciding-merger-terms?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"http://bloomberg.com/news/articles/2021-04-09/gojek-tokopedia-seek-investor-okay-after-deciding-merger-terms?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184496379","content_text":"The startups’ management and boards are in agreement\nIndonesia’s two largest startups could dominate the market\n\nGojek and Tokopedia have decided on terms and are seeking investor approval for a merger that could create Indonesia’s largest internet company, a person familiar with the matter said, putting the deal on track for completion as soon as over the summer.\nThe managements and boards of both startups have agreed on how to proceed with the merger and are now formally seeking approval for the deal from shareholders through a so-called consent package, the person said, asking not to be identified discussing a private matter. The management teams are aligned on strategy and their boards have given significant support, the person added.\nThe two Indonesian tech pioneers have common investors, including Google,Temasek Holdings Pte and Sequoia Capital India. Tokopedia is also backed by Alibaba Group Holding Ltd., which has its own e-commerce unit in the region,Lazada.\nIndonesia’s two most valuable startups are in the final stages of completing a tie-up that would make them the biggest players in e-commerce and ride-hailing in Southeast Asia’s most populous nation. The two companies have discussed a variety of scenarios with the goal of ultimately listing the combined entity in both Jakarta and the U.S., which could be worth as much as $40 billion.\nGojek had been in discussions with ride-hailing rival Grab Holdings Inc. about a possible merger, but those talks dragged on and ultimately collapsed. Among other issues, that deal would likely have faced regulatory opposition since it would combine the two major providers of on-demand rides and delivery services in several Southeast Asian markets.\nGrab is now on the verge of listing via a merger with Altimeter Capital’s first blank-check company, in a deal that could value the Southeast Asian ride-hailing giant at about $40 billion, people familiar with the matter have said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":89,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348742265,"gmtCreate":1617968163857,"gmtModify":1634295472701,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348742265","repostId":"2126084008","repostType":4,"repost":{"id":"2126084008","pubTimestamp":1617967560,"share":"https://www.laohu8.com/m/news/2126084008?lang=&edition=full","pubTime":"2021-04-09 19:26","market":"us","language":"en","title":"2 Top Growth Stocks to Buy in April","url":"https://stock-news.laohu8.com/highlight/detail?id=2126084008","media":"Will Ebiefung","summary":"Virgin Galactic and Roblox look ready to bounce back from their near-term challenges.","content":"<p>Taking a chance on opportunities other investors may be overlooking is a great way to earn life-changing returns in the stock market.</p><p>While <b>Virgin Galactic</b>&nbsp;(NYSE:SPCE) and <b>Roblox</b> (NYSE:RBLX)&nbsp;face near-term headwinds, both companies look poised for explosive growth in the burgeoning space tourism and video game industries. Let's dig deeper to find out why they could be top stocks to buy in April.&nbsp;</p><p><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F619667%2Fgettyimages-1248262649.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"425\" referrerpolicy=\"no-referrer\"></p><p>Image source: Getty Images.</p><h2>1. Virgin Galactic</h2><p>Virgin Galactic's dream to crack the fast-growing space industry took a step backward after its most recent test flight failed to meet the company's objectives. In Dec. 2020, an onboard computer of Virgin Galactic's VSS Unity spaceplane failed to connect, halting the rocket motor as part of the vehicle's fail-safe mechanism. According to President of Space Missions and Safety Michael P. Moses, the company is working on a solution and expects to conduct its next flight by May 2021. Management also postponed its space tourism plans to 2022.</p><p>The delay disappointed shareholders who want commercial operations to start as soon as possible, and shares of Virgin Galactic declined over 50% from their 52-week high of $62.80 per share. But now trading at a discount, Virgin Galactic is still a great way to bet on this cutting edge industry thanks to its strong balance sheet and technological advantages.</p><p>Virgin can afford to take its time on safety. With $666 million in cash and equivalents on its balance sheet at the end of 2020 set against management's expectation for negative free cash flow of $60 million in the first quarter of 2021, Virgin Galactic has plenty of financial runway before it launches commercial operations in 2022. And the potential market opportunity appears to be worth the wait.</p><p>According to analysts at <b>UBS</b>, the $400 billion space industry could double to $805 billion by 2030 -- with Virgin Galactic's target markets of hypersonic travel and space tourism representing $20 billion and $3 billion, respectively. Virgin Galactic is a great way to bet on these opportunities, because its suborbital flight technology works for both use cases. The company is also exploring opportunities in microgravity research, professional astronaut training, and transporting payloads for clients like NASA.</p><h2>2. Roblox</h2><p>With a market cap of $39 billion versus annual revenue of $924 million, Roblox boasts a sky-high price-to-sales multiple of 42 as of this writing.&nbsp;But the video game entertainment company deserves its premium price because of its rapid growth rate and game-changing business model.&nbsp;</p><p>Unlike traditional rivals such as&nbsp;<b><a href=\"https://laohu8.com/S/ZNGA\">Zynga</a></b>&nbsp;and<b>&nbsp;Electronic Arts</b>,<b>&nbsp;</b>which drive growth through expensive acquisitions and hyped-up blockbuster franchises, Roblox is a game creation platform that lets independent developers create much of the platform's content. This strategy allows the company to save on development costs while fueling growth by generating a massive amount of unique content for the Roblox \"metaverse.\"</p><p>Management expects full-year 2021 revenue to surge 60% to $1.48 billion (at the midpoint of guidance) despite daily active user (DAU) growth decelerating to between 6% and 12% (about 35.5 million users). The latter figure marks a significant decline from 2020 when DAUs grew 85%.</p><p>Roblox will have to work harder to expand its user base as coronavirus-related tailwinds fade. But the company's massive research and development budget -- $201 million in 2020 (or 22% of revenue) -- will help it regain momentum by investing in new growth drivers and customers outside of its current core audience of kids under age 13.&nbsp;</p><p>According to Chief Business Officer Craig Donato, Roblox plans to enable developers to build more sophisticated games that will appeal to a \"wider range of users.\"<i>&nbsp;</i>The platform is also experimenting with live music, as evidenced by a recent concert performed by rapper Lil Nas X entirely within Roblox. These new initiatives align with management's strategy to expand into older demographics, which could reboot user growth.</p><h2>Betting on a comeback</h2><p>Sometimes good companies hit speed bumps, but this doesn't necessarily derail their long-term plans for success. Virgin Galactic and Roblox are poised to bounce back better than ever because of their differentiated business models and massive growth opportunities in space travel and gaming.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>2 Top Growth Stocks to Buy in April</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n2 Top Growth Stocks to Buy in April\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 19:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/09/2-top-growth-stocks-to-buy-in-april/><strong>Will Ebiefung</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Taking a chance on opportunities other investors may be overlooking is a great way to earn life-changing returns in the stock market.While Virgin Galactic (NYSE:SPCE) and Roblox (NYSE:RBLX) face near-...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/09/2-top-growth-stocks-to-buy-in-april/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/04/09/2-top-growth-stocks-to-buy-in-april/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2126084008","content_text":"Taking a chance on opportunities other investors may be overlooking is a great way to earn life-changing returns in the stock market.While Virgin Galactic (NYSE:SPCE) and Roblox (NYSE:RBLX) face near-term headwinds, both companies look poised for explosive growth in the burgeoning space tourism and video game industries. Let's dig deeper to find out why they could be top stocks to buy in April. Image source: Getty Images.1. Virgin GalacticVirgin Galactic's dream to crack the fast-growing space industry took a step backward after its most recent test flight failed to meet the company's objectives. In Dec. 2020, an onboard computer of Virgin Galactic's VSS Unity spaceplane failed to connect, halting the rocket motor as part of the vehicle's fail-safe mechanism. According to President of Space Missions and Safety Michael P. Moses, the company is working on a solution and expects to conduct its next flight by May 2021. Management also postponed its space tourism plans to 2022.The delay disappointed shareholders who want commercial operations to start as soon as possible, and shares of Virgin Galactic declined over 50% from their 52-week high of $62.80 per share. But now trading at a discount, Virgin Galactic is still a great way to bet on this cutting edge industry thanks to its strong balance sheet and technological advantages.Virgin can afford to take its time on safety. With $666 million in cash and equivalents on its balance sheet at the end of 2020 set against management's expectation for negative free cash flow of $60 million in the first quarter of 2021, Virgin Galactic has plenty of financial runway before it launches commercial operations in 2022. And the potential market opportunity appears to be worth the wait.According to analysts at UBS, the $400 billion space industry could double to $805 billion by 2030 -- with Virgin Galactic's target markets of hypersonic travel and space tourism representing $20 billion and $3 billion, respectively. Virgin Galactic is a great way to bet on these opportunities, because its suborbital flight technology works for both use cases. The company is also exploring opportunities in microgravity research, professional astronaut training, and transporting payloads for clients like NASA.2. RobloxWith a market cap of $39 billion versus annual revenue of $924 million, Roblox boasts a sky-high price-to-sales multiple of 42 as of this writing. But the video game entertainment company deserves its premium price because of its rapid growth rate and game-changing business model. Unlike traditional rivals such as Zynga and Electronic Arts, which drive growth through expensive acquisitions and hyped-up blockbuster franchises, Roblox is a game creation platform that lets independent developers create much of the platform's content. This strategy allows the company to save on development costs while fueling growth by generating a massive amount of unique content for the Roblox \"metaverse.\"Management expects full-year 2021 revenue to surge 60% to $1.48 billion (at the midpoint of guidance) despite daily active user (DAU) growth decelerating to between 6% and 12% (about 35.5 million users). The latter figure marks a significant decline from 2020 when DAUs grew 85%.Roblox will have to work harder to expand its user base as coronavirus-related tailwinds fade. But the company's massive research and development budget -- $201 million in 2020 (or 22% of revenue) -- will help it regain momentum by investing in new growth drivers and customers outside of its current core audience of kids under age 13. According to Chief Business Officer Craig Donato, Roblox plans to enable developers to build more sophisticated games that will appeal to a \"wider range of users.\" The platform is also experimenting with live music, as evidenced by a recent concert performed by rapper Lil Nas X entirely within Roblox. These new initiatives align with management's strategy to expand into older demographics, which could reboot user growth.Betting on a comebackSometimes good companies hit speed bumps, but this doesn't necessarily derail their long-term plans for success. Virgin Galactic and Roblox are poised to bounce back better than ever because of their differentiated business models and massive growth opportunities in space travel and gaming.","news_type":1},"isVote":1,"tweetType":1,"viewCount":80,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341130664,"gmtCreate":1617790217258,"gmtModify":1634296501077,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Just buy only&nbsp;","listText":"Just buy only&nbsp;","text":"Just buy only","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/341130664","repostId":"1155592825","repostType":4,"repost":{"id":"1155592825","pubTimestamp":1617787968,"share":"https://www.laohu8.com/m/news/1155592825?lang=&edition=full","pubTime":"2021-04-07 17:32","market":"us","language":"en","title":"Best Stocks for 2021: Still Charging Up, Don’t Count NIO out Just Yet","url":"https://stock-news.laohu8.com/highlight/detail?id=1155592825","media":"investorplace","summary":"Chinese electric vehicle (EV) makerNio(NYSE:NIO) hasn’t exactly wowed investors thus far in 2021. Do","content":"<p>Chinese electric vehicle (EV) maker<b>Nio</b>(NYSE:<b><u>NIO</u></b>) hasn’t exactly wowed investors thus far in 2021. Down about 18% year-to-date, NIO stock is either an obvious buy on every dip or a too-volatile name that ought to be avoided, depending on who you ask.</p><p><img src=\"https://static.tigerbbs.com/de64ef7424a41df0c883c361220b278d\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\">Source: xiaorui / Shutterstock.com</p><p>That said, let’s take a closer look at how the company fared in the first three months of the year.</p><p>Niodelivered just over 20,000 vehicles in the first quarter of 2021, a 423% increase year-over-year.&nbsp; Additionally, 7,257 vehicles delivered in March marked a new monthly record and 373% growth over the same month in 2020.</p><p>The strong sales numbers came despite the companyclosing its Heifei production plant for five daysin late March due to the ongoing semiconductor shortage. The company initially said thatsupply constraint would slightly reduce the number of vehicles deliveredin the first quarter, but ultimately met its initial outlook.</p><p>However, Nio also said itschip shortage is likely to hit production in Q2 of 2020.</p><p>Chip Shortage Hurting EV makers</p><p>The ongoing semiconductor shortage is probably the single biggest story for NIO stock right now, though trade tensions with China are certainly uncomfortably high for investors in foreign stocks. That said, low tariffs and friendly international relations will mean very little to Nio stockholders unless their electric vehicle company is producing electric vehicles.</p><p>Unfortunately for NIO and other automakers,the chip shortage could continue into 2022. And it’scompounded by a foam shortage. This is an issue because automakers use foam in their seats. But that foam is made from oil refinery byproducts, which have been in short supply due to refineries suspending operations.</p><p>Infrastructure Plan for Charging Stations</p><p>Moreover, news thatthe Biden administration is eyeing these supply chain constraintsmight reassure investors, but the biggest benefit from Biden could be his$2.3 billion infrastructure proposal, which includes$174 billion for promoting EVs and EV charging stations. In turn, a big government investment to expand charging networks would dramaticallywiden the market for EVs.</p><p>However, the President isn’t nearly as keen on China as he is on EVs — which is bad news for NIO stock. The ongoing trade war between the two nations saw recent trade talks in the second half of March, which didn’t end particularly well; theU.S. Securities and Exchange Commission decided to go ahead and instate Trump-era measures regarding the auditing and delisting of Chinese stocks.</p><p>With that, the trade war has been a major downer for Chinese companies across the board, but particularly volatile for EV makers. Investor enthusiasm for this sector has surged in the past year, but just because EV bulls were right doesn’t mean NIO bulls will be.</p><p>Overall, electric vehicles are here to stay. But it’s anybody’s guess which specific companies will be around in six months, let alone the automaking juggernauts of tomorrow.</p><p>Bottom Line on NIO Stock</p><p>I’m not suggesting NIO stock is poised to crash any time soon, but investors should be aware that the entire sector is quite frothy right now. Gains are outsized, but so too are losses. It makes sense that big headlines regarding the chip shortage and the trade war have seriously impacted NIO stock.</p><p>When Nio reported Q4 and full-year 2020 earnings on March 1, an earnings miss was offset by arevenue beat and strong delivery numbers. Majorgrowth in vehicle marginswas a clear highlight pointing towards increased profitability for the company.</p><p>Also, Nio recentlyfiled paperwork to list on the Hong Kong exchanges, which will broaden its ability to raise capital. And the company has recentlyregistered a trademark for a new model of car, which should excite investors and customers alike.</p><p>So, while there may be some negativity surrounding NIO stock, the EV company looks like it could make a comeback as we move further into 2021.</p>","source":"lsy1606302653667","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>Best Stocks for 2021: Still Charging Up, Don’t Count NIO out Just Yet</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\">\nBest Stocks for 2021: Still Charging Up, Don’t Count NIO out Just Yet\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-07 17:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/04/best-stocks-for-2021-still-charging-up-dont-count-nio-out-just-yet/><strong>investorplace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese electric vehicle (EV) makerNio(NYSE:NIO) hasn’t exactly wowed investors thus far in 2021. Down about 18% year-to-date, NIO stock is either an obvious buy on every dip or a too-volatile name ...</p>\n\n<a href=\"https://investorplace.com/2021/04/best-stocks-for-2021-still-charging-up-dont-count-nio-out-just-yet/\">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://investorplace.com/2021/04/best-stocks-for-2021-still-charging-up-dont-count-nio-out-just-yet/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155592825","content_text":"Chinese electric vehicle (EV) makerNio(NYSE:NIO) hasn’t exactly wowed investors thus far in 2021. Down about 18% year-to-date, NIO stock is either an obvious buy on every dip or a too-volatile name that ought to be avoided, depending on who you ask.Source: xiaorui / Shutterstock.comThat said, let’s take a closer look at how the company fared in the first three months of the year.Niodelivered just over 20,000 vehicles in the first quarter of 2021, a 423% increase year-over-year.  Additionally, 7,257 vehicles delivered in March marked a new monthly record and 373% growth over the same month in 2020.The strong sales numbers came despite the companyclosing its Heifei production plant for five daysin late March due to the ongoing semiconductor shortage. The company initially said thatsupply constraint would slightly reduce the number of vehicles deliveredin the first quarter, but ultimately met its initial outlook.However, Nio also said itschip shortage is likely to hit production in Q2 of 2020.Chip Shortage Hurting EV makersThe ongoing semiconductor shortage is probably the single biggest story for NIO stock right now, though trade tensions with China are certainly uncomfortably high for investors in foreign stocks. That said, low tariffs and friendly international relations will mean very little to Nio stockholders unless their electric vehicle company is producing electric vehicles.Unfortunately for NIO and other automakers,the chip shortage could continue into 2022. And it’scompounded by a foam shortage. This is an issue because automakers use foam in their seats. But that foam is made from oil refinery byproducts, which have been in short supply due to refineries suspending operations.Infrastructure Plan for Charging StationsMoreover, news thatthe Biden administration is eyeing these supply chain constraintsmight reassure investors, but the biggest benefit from Biden could be his$2.3 billion infrastructure proposal, which includes$174 billion for promoting EVs and EV charging stations. In turn, a big government investment to expand charging networks would dramaticallywiden the market for EVs.However, the President isn’t nearly as keen on China as he is on EVs — which is bad news for NIO stock. The ongoing trade war between the two nations saw recent trade talks in the second half of March, which didn’t end particularly well; theU.S. Securities and Exchange Commission decided to go ahead and instate Trump-era measures regarding the auditing and delisting of Chinese stocks.With that, the trade war has been a major downer for Chinese companies across the board, but particularly volatile for EV makers. Investor enthusiasm for this sector has surged in the past year, but just because EV bulls were right doesn’t mean NIO bulls will be.Overall, electric vehicles are here to stay. But it’s anybody’s guess which specific companies will be around in six months, let alone the automaking juggernauts of tomorrow.Bottom Line on NIO StockI’m not suggesting NIO stock is poised to crash any time soon, but investors should be aware that the entire sector is quite frothy right now. Gains are outsized, but so too are losses. It makes sense that big headlines regarding the chip shortage and the trade war have seriously impacted NIO stock.When Nio reported Q4 and full-year 2020 earnings on March 1, an earnings miss was offset by arevenue beat and strong delivery numbers. Majorgrowth in vehicle marginswas a clear highlight pointing towards increased profitability for the company.Also, Nio recentlyfiled paperwork to list on the Hong Kong exchanges, which will broaden its ability to raise capital. And the company has recentlyregistered a trademark for a new model of car, which should excite investors and customers alike.So, while there may be some negativity surrounding NIO stock, the EV company looks like it could make a comeback as we move further into 2021.","news_type":1},"isVote":1,"tweetType":1,"viewCount":145,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340172444,"gmtCreate":1617365611088,"gmtModify":1634521234039,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Buy Liao lo","listText":"Buy Liao lo","text":"Buy Liao lo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/340172444","repostId":"1158992788","repostType":4,"repost":{"id":"1158992788","pubTimestamp":1617365040,"share":"https://www.laohu8.com/m/news/1158992788?lang=&edition=full","pubTime":"2021-04-02 20:04","market":"us","language":"en","title":"2 Top Stocks You Can Buy and Hold for the Next Decade","url":"https://stock-news.laohu8.com/highlight/detail?id=1158992788","media":"Motley Fool","summary":"These two tech stocks provide a combination of stability and growth that investors can confidently buy and hold for the long term.The hot stock of the day might sound too good to pass up, but your long-term investment portfolio should focus on stocks that should have strong fundamentals both today and a decade into the future. It's hard to see 10 years into the future, and the unexpected can always leap up to disrupt a sound narrative.However, there are steps we can take to identify companies wi","content":"<blockquote>These two tech stocks provide a combination of stability and growth that investors can confidently buy and hold for the long term.</blockquote><p>The hot stock of the day might sound too good to pass up, but your long-term investment portfolio should focus on stocks that should have strong fundamentals both today and a decade into the future. It's hard to see 10 years into the future, and the unexpected can always leap up to disrupt a sound narrative.</p><p>However, there are steps we can take to identify companies with stellar growth opportunities and sustainable competitive advantages. Some mega-trends are relatively easy to predict, and the best companies enabling those trends are likely to outperform the market over the long term. With a 10-year time horizon, we don't have to take as much care to limit volatility or nitpickvaluation ratios. A decade from now, the winners will have ridden out economic cycles and grown enough to justify all but the most aggressive valuations today.</p><p>These two stocks have established businesses, exposure to major tech trends, and reputable products in growth categories. They're great building blocks for your investment portfolio.</p><p><b>NVIDIA</b></p><p><b>NVIDIA</b>(NASDAQ:NVDA)rose to prominence as a leader in the design and production of graphics processing units (GPU) for computers. The company's products have evolved to become important components in data centers, cryptocurrency mining hardware, autonomous vehicles, and robotics. This aligns NVDIA's fortunes directly with some of thedisruptive technology trendsthat are expected to define the next decade. As blockchain, AI, security, remote connectivity, and video gaming become more prominent, demand for NVIDIA's industry-leading products will also grow.</p><p>The company is also in advanced discussions to acquire a licensed chip design company called Arm, which would expand NVIDIA's operations into a new growth avenue. That'd be especially true if moves from<b>Apple</b>and others to manufacture chips internally boost demand for chip design services.</p><p>The story has a fair share of risks. The semiconductor industry is notoriously cyclical, as demand and pricing can fluctuate drastically based on theproduct replacement cycle, rather than global macroeconomic conditions. Plus, a serious decline in highly volatile cryptocurrency prices could also see a steep drop in demand for the chips used in mining. NVIDIA trades at more than 38 timesforward earnings, nearly 19 timesprice to book, and has anenterprise-value-to-EBITDAratio above 55. If bad news creeps in, share prices could crater quickly.</p><p>Still, NVIDIA is growing rapidly, and its products have an excellent reputation. The company is deeply connected to all of the most exciting technology trends of the next decade, and there's an enormous opportunity ahead for shareholders. It's good to hold today, and it could be much larger in the future.</p><p><b>Microsoft</b></p><p><b>Microsoft</b>(NASDAQ:MSFT)is famous for its Windows operating system and the Office software suite, but it is also one of the major players incloud services. The company also owns the networking and employment social media platform LinkedIn, has a large video game business, and sells the popular Surface brand of touchscreen computers.</p><p>Microsoft has a rare combination of favorable characteristics. The company enjoys stability through enormous scale and product diversity, but it is also delivering exceptional growth -- that's not common. For the first six months of fiscal 2021, total sales increased nearly 15% over the prior year. The company's Azure server products and cloud services grew 50% year over year in the most recent quarter. That segment has expanded to exceed the revenue produced by Microsoft's flagship personal computing products. Almost every business is tech-enabled now, and the inevitable growth of software as a service (SaaS), cybersecurity, and remote collaboration is a catalyst for cloud service providers.</p><p>Microsoft is in direct competition with fearsome heavy-hitters including<b>Amazon</b>,<b>Alphabet</b>, and Apple. That's certainly a risk. That said, Azure is second only to AWS in the cloud market, with 20% share. Encouragingly, it has actually gained market share over the past year. Microsoft will grow by merely maintaining share in the next decade, as cloud services are expected to expand nearly 20% annually.</p><p>At a forward P/E ratio of only 28.7, there's too much upside potential here relative to the risks associated with competition. Microsoft has the established business to make it a relatively safe stock, and it also provides growth potential to outpace the market.</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>2 Top Stocks You Can Buy and Hold for the Next Decade</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n2 Top Stocks You Can Buy and Hold for the Next Decade\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/02/2-top-stocks-you-can-buy-and-hold-for-the-next-dec/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>These two tech stocks provide a combination of stability and growth that investors can confidently buy and hold for the long term.The hot stock of the day might sound too good to pass up, but your ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/02/2-top-stocks-you-can-buy-and-hold-for-the-next-dec/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/04/02/2-top-stocks-you-can-buy-and-hold-for-the-next-dec/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158992788","content_text":"These two tech stocks provide a combination of stability and growth that investors can confidently buy and hold for the long term.The hot stock of the day might sound too good to pass up, but your long-term investment portfolio should focus on stocks that should have strong fundamentals both today and a decade into the future. It's hard to see 10 years into the future, and the unexpected can always leap up to disrupt a sound narrative.However, there are steps we can take to identify companies with stellar growth opportunities and sustainable competitive advantages. Some mega-trends are relatively easy to predict, and the best companies enabling those trends are likely to outperform the market over the long term. With a 10-year time horizon, we don't have to take as much care to limit volatility or nitpickvaluation ratios. A decade from now, the winners will have ridden out economic cycles and grown enough to justify all but the most aggressive valuations today.These two stocks have established businesses, exposure to major tech trends, and reputable products in growth categories. They're great building blocks for your investment portfolio.NVIDIANVIDIA(NASDAQ:NVDA)rose to prominence as a leader in the design and production of graphics processing units (GPU) for computers. The company's products have evolved to become important components in data centers, cryptocurrency mining hardware, autonomous vehicles, and robotics. This aligns NVDIA's fortunes directly with some of thedisruptive technology trendsthat are expected to define the next decade. As blockchain, AI, security, remote connectivity, and video gaming become more prominent, demand for NVIDIA's industry-leading products will also grow.The company is also in advanced discussions to acquire a licensed chip design company called Arm, which would expand NVIDIA's operations into a new growth avenue. That'd be especially true if moves fromAppleand others to manufacture chips internally boost demand for chip design services.The story has a fair share of risks. The semiconductor industry is notoriously cyclical, as demand and pricing can fluctuate drastically based on theproduct replacement cycle, rather than global macroeconomic conditions. Plus, a serious decline in highly volatile cryptocurrency prices could also see a steep drop in demand for the chips used in mining. NVIDIA trades at more than 38 timesforward earnings, nearly 19 timesprice to book, and has anenterprise-value-to-EBITDAratio above 55. If bad news creeps in, share prices could crater quickly.Still, NVIDIA is growing rapidly, and its products have an excellent reputation. The company is deeply connected to all of the most exciting technology trends of the next decade, and there's an enormous opportunity ahead for shareholders. It's good to hold today, and it could be much larger in the future.MicrosoftMicrosoft(NASDAQ:MSFT)is famous for its Windows operating system and the Office software suite, but it is also one of the major players incloud services. The company also owns the networking and employment social media platform LinkedIn, has a large video game business, and sells the popular Surface brand of touchscreen computers.Microsoft has a rare combination of favorable characteristics. The company enjoys stability through enormous scale and product diversity, but it is also delivering exceptional growth -- that's not common. For the first six months of fiscal 2021, total sales increased nearly 15% over the prior year. The company's Azure server products and cloud services grew 50% year over year in the most recent quarter. That segment has expanded to exceed the revenue produced by Microsoft's flagship personal computing products. Almost every business is tech-enabled now, and the inevitable growth of software as a service (SaaS), cybersecurity, and remote collaboration is a catalyst for cloud service providers.Microsoft is in direct competition with fearsome heavy-hitters includingAmazon,Alphabet, and Apple. That's certainly a risk. That said, Azure is second only to AWS in the cloud market, with 20% share. Encouragingly, it has actually gained market share over the past year. Microsoft will grow by merely maintaining share in the next decade, as cloud services are expected to expand nearly 20% annually.At a forward P/E ratio of only 28.7, there's too much upside potential here relative to the risks associated with competition. Microsoft has the established business to make it a relatively safe stock, and it also provides growth potential to outpace the market.","news_type":1},"isVote":1,"tweetType":1,"viewCount":80,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352164985,"gmtCreate":1616909043947,"gmtModify":1634523562679,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/352164985","repostId":"1119843211","repostType":4,"repost":{"id":"1119843211","pubTimestamp":1616770039,"share":"https://www.laohu8.com/m/news/1119843211?lang=&edition=full","pubTime":"2021-03-26 22:47","market":"us","language":"en","title":"‘Bitcoin could be next domino to fall as investors rush to book profit,’ says technical analyst","url":"https://stock-news.laohu8.com/highlight/detail?id=1119843211","media":"MarketWatch","summary":"Bitcoin prices were under pressure on Thursday, and the world’s No. 1 crypto could see further bearish pain in the near term if stocks continue to buckle, according to an analyst.At last check, bitcoin was changing hands at $51.743 on CoinDesk, with the asset briefly touching a low at $50,458.10 over the past 24 hours and trading around its lowest point in over two weeks.“If so, this could be further bad news for Bitcoin. The crypto has been correlating positively with risk assets over the past ","content":"<p>Bitcoin prices were under pressure on Thursday, and the world’s No. 1 crypto could see further bearish pain in the near term if stocks continue to buckle, according to an analyst.</p><p>At last check, bitcoin&nbsp;was changing hands at $51.743 on CoinDesk, with the asset briefly touching a low at $50,458.10 over the past 24 hours and trading around its lowest point in over two weeks.</p><p>Values for the crypto are off more than 11% so far this week, FactSet data show.</p><p><img src=\"https://static.tigerbbs.com/2f433365c95d3e6845d8275eea88bafc\" tg-width=\"947\" tg-height=\"654\" referrerpolicy=\"no-referrer\"></p><p>And at least one analyst fears that the crypto asset could come under pressure as a host of speculative assets have been coming under steady selling pressure so far this week. Bitcoin is often perceived as being uncorrelated with stocks and other assets but it has lately been moving in tandem with selloffs in crude-oil futures, and stocks, with declines in so-called risk assets coming as the U.S. dollar has gained some traction higher.</p><p>For that reason, Fawad&nbsp;Razaqzada, market analyst at ThinkMarkets, in a Thursday note cautioned investors to watch out for more pressure on bitcoin that could take it beneath $50,000.</p><p>“Judging by recent events, traders seem happy to be selling into the rallies rather than buying the dip. So, don’t be surprised if we see renewed weakness in the markets later on in the session,” he wrote.</p><p>“If so, this could be further bad news for Bitcoin. The crypto has been correlating positively with risk assets over the past year and if that relationship remains strong then the digital currency could follow risk assets lower,” he added.</p><p>“Even if a proper sell-off does not materialise for stocks and other risk assets today, Bitcoin traders need to proceed with caution because in recent days we have been getting more and more signs that the appetite for risk is slowly fading away across the financial markets,” he added.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>‘Bitcoin could be next domino to fall as investors rush to book profit,’ says technical analyst</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‘Bitcoin could be next domino to fall as investors rush to book profit,’ says technical analyst\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-26 22:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/bitcoin-could-be-next-domino-to-fall-as-investors-rush-to-book-profit-says-technical-analyst-11616701631?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin prices were under pressure on Thursday, and the world’s No. 1 crypto could see further bearish pain in the near term if stocks continue to buckle, according to an analyst.At last check, ...</p>\n\n<a href=\"https://www.marketwatch.com/story/bitcoin-could-be-next-domino-to-fall-as-investors-rush-to-book-profit-says-technical-analyst-11616701631?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/bitcoin-could-be-next-domino-to-fall-as-investors-rush-to-book-profit-says-technical-analyst-11616701631?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1119843211","content_text":"Bitcoin prices were under pressure on Thursday, and the world’s No. 1 crypto could see further bearish pain in the near term if stocks continue to buckle, according to an analyst.At last check, bitcoin was changing hands at $51.743 on CoinDesk, with the asset briefly touching a low at $50,458.10 over the past 24 hours and trading around its lowest point in over two weeks.Values for the crypto are off more than 11% so far this week, FactSet data show.And at least one analyst fears that the crypto asset could come under pressure as a host of speculative assets have been coming under steady selling pressure so far this week. Bitcoin is often perceived as being uncorrelated with stocks and other assets but it has lately been moving in tandem with selloffs in crude-oil futures, and stocks, with declines in so-called risk assets coming as the U.S. dollar has gained some traction higher.For that reason, Fawad Razaqzada, market analyst at ThinkMarkets, in a Thursday note cautioned investors to watch out for more pressure on bitcoin that could take it beneath $50,000.“Judging by recent events, traders seem happy to be selling into the rallies rather than buying the dip. So, don’t be surprised if we see renewed weakness in the markets later on in the session,” he wrote.“If so, this could be further bad news for Bitcoin. The crypto has been correlating positively with risk assets over the past year and if that relationship remains strong then the digital currency could follow risk assets lower,” he added.“Even if a proper sell-off does not materialise for stocks and other risk assets today, Bitcoin traders need to proceed with caution because in recent days we have been getting more and more signs that the appetite for risk is slowly fading away across the financial markets,” he added.","news_type":1},"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356104362,"gmtCreate":1616761870356,"gmtModify":1634524142590,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574322040124399","authorIdStr":"3574322040124399"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/356104362","repostId":"2122759644","repostType":4,"isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":882415735,"gmtCreate":1631714522427,"gmtModify":1631891083295,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Can like my comments. Thanks.&nbsp;","listText":"Can like my comments. Thanks.&nbsp;","text":"Can like my comments. Thanks.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/882415735","repostId":"1148341685","repostType":4,"repost":{"id":"1148341685","pubTimestamp":1631660884,"share":"https://www.laohu8.com/m/news/1148341685?lang=&edition=full","pubTime":"2021-09-15 07:08","market":"us","language":"en","title":"U.S. stocks close lower on worries over recovery, corporate tax hikes","url":"https://stock-news.laohu8.com/highlight/detail?id=1148341685","media":"Reuters","summary":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing","content":"<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p>\n<p>Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p>\n<p>So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p>\n<p>“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p>\n<p>The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p>\n<p>“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p>\n<p>The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p>\n<p>U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p>\n<p>The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p>\n<p>The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p>\n<p>All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p>\n<p>Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p>\n<p>Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p>\n<p>CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p>\n<p>Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</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>U.S. stocks close lower on worries over recovery, corporate tax hikes</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\">\nU.S. stocks close lower on worries over recovery, corporate tax hikes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-15 07:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9\">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.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148341685","content_text":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.\nOptimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.\nSo far this month the S&P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.\n“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”\nThe advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.\n“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”\nThe CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.\nU.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]\nThe long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.\nThe Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.\nAll 11 major sectors in the S&P 500 ended the session red, with energy and financials suffering the largest percentage drops.\nApple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&P 500 and the Nasdaq.\nIntuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.\nCureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.\nThe S&P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.\nVolume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":186,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817478963,"gmtCreate":1630984285752,"gmtModify":1631891083300,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/817478963","repostId":"1170846245","repostType":4,"repost":{"id":"1170846245","pubTimestamp":1630983881,"share":"https://www.laohu8.com/m/news/1170846245?lang=&edition=full","pubTime":"2021-09-07 11:04","market":"us","language":"en","title":"Nvidia: AI Leadership Key To Continuous Double-Digit Stock Price Growth","url":"https://stock-news.laohu8.com/highlight/detail?id=1170846245","media":"Seeking Alpha","summary":"Summary\n\nThe company’s share price has surged 42% along with its revenues at 54%, we aimed to determ","content":"<p><b>Summary</b></p>\n<ul>\n <li>The company’s share price has surged 42% along with its revenues at 54%, we aimed to determine if the share price has reached its peak or if there is more.</li>\n <li>It is advancing its AI leadership to capture growth opportunities in the booming cloud market fueled by the rising volume of data.</li>\n <li>We determine that pricing increase rather than shipment growth was the key to its PC GPU sales, and its pricing power was due to its performance improvements with every new.</li>\n <li>Despite the company’s Arm acquisition still pending regulatory approval, it has gone ahead in advancing its product development with Arm’s architecture, with its new BlueField DPU and Nvidia Grace.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c4a1c53ba379b52dcd7584cb55a0b11a\" tg-width=\"1536\" tg-height=\"1053\" referrerpolicy=\"no-referrer\"><span>David Becker/Getty Images News</span></p>\n<p>Since our previous analysis on Nvidia Corp (NVDA), the company’s full-year revenues have increased by 53% in 2020 which has exceeded our&nbsp;expectations&nbsp;of 43% growth with higher GPU sales across PC and data center markets. As such, the company’s stock price also surges well past our previous price target of $578.39. In this analysis, we determine if its impressive growth can continue and justify a higher valuation for the company.</p>\n<p>The main segments of the company contributing to its high growth were the Data center &amp; Gaming segment representing 40.2% and 46.5% of its total revenues respectively. We identified Nvidia’s AI leadership as a key advantage fuelling the growth across its data center segment capitalizing on rising data creation from AI, HPC and IoT applications with its AI leadership through its innovative products catered towards the booming cloud market. Besides data centers, gaming continues to be a key driver with its continuous performance improvements backed by new releases of next-generation GPU models contributing to rising pricing power to maintain ASP growth.</p>\n<p>Finally, we followed up on the Arm acquisition which is slated by management to conclude by early 2022. Through the acquisition of Arm, it not only earns incremental licensing revenue but also the ability to further leverage its CPU capabilities to develop and expand its range of Arm-based products including upcoming CPUs launches and the latest DPU SoCs. As the company is in the progress of obtaining regulatory clearance, we analysed the effect of the acquisition on the market competitiveness of the CPU markets.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/620b8212ee6f5ba62d2f6ac3f3e7be2c\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia</span></p>\n<p><b>AI Leadership ensures High Growth Across Key Data Centre Segment</b></p>\n<p>The increasing volumes of data created will fuel&nbsp;data center&nbsp;growth over the next decade. An important aspect of this will be machine-to-machine and Artificial Intelligence ('AI') technologies that enable massive volumes of data to be processed with ease and speed. AI data processing is made possible by a system of linked supercomputers that are used to process complex workloads by running millions of simulations and financial models to generate predictions from massive volumes of data by identifying a pattern and then replicating that pattern identification across other data. As can be imagined,AI computing&nbsp;would require massive computing infrastructure.</p>\n<p>Driven by the advent of AI, HPC, IoT and edge computing,data creation&nbsp;is projected to grow at a rate of&nbsp;around&nbsp;23% in the next 5 years. This would require greater cloud infrastructure to handle the increase in data. To determine the growth in cloud infrastructure revenues, we identified the factor of correlation of cloud infrastructure revenues to data volume growth over the past 10 years. The factor identified of 1.65x was applied to data volume growth projections to estimate the cloud infrastructure market growth rate to the year 2025.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/65dce37578817882262e6dc751775292\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Statista, Khaveen Investments</span></p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Volume of Data Worldwide</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2017</b></p></td>\n   <td><p><b>2018</b></p></td>\n   <td><p><b>2019</b></p></td>\n   <td><p><b>2020</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Cloud Infrastructure Market Revenues ($ bln)</p></td>\n   <td><p>32</p></td>\n   <td><p>46.5</p></td>\n   <td><p>69</p></td>\n   <td><p>96</p></td>\n   <td><p>129.5</p></td>\n   <td><p>178.9</p></td>\n   <td><p>246.3</p></td>\n   <td><p>342.9</p></td>\n   <td><p>470.6</p></td>\n   <td><p>650.6</p></td>\n  </tr>\n  <tr>\n   <td><p>Cloud Infrastructure Market Revenue Growth %<b><i>('a')</i></b></p></td>\n   <td><p>52%</p></td>\n   <td><p>45%</p></td>\n   <td><p>48%</p></td>\n   <td><p>39%</p></td>\n   <td><p>35%</p></td>\n   <td><p>38%</p></td>\n   <td><p>38%</p></td>\n   <td><p>39%</p></td>\n   <td><p>37%</p></td>\n   <td><p>38%</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Volume (ZB)</p></td>\n   <td><p>18</p></td>\n   <td><p>26</p></td>\n   <td><p>33</p></td>\n   <td><p>41</p></td>\n   <td><p>64.2</p></td>\n   <td><p>79</p></td>\n   <td><p>97</p></td>\n   <td><p>120</p></td>\n   <td><p>147</p></td>\n   <td><p>181</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Volume Growth %<b><i>('b')</i></b></p></td>\n   <td><p>16%</p></td>\n   <td><p>44%</p></td>\n   <td><p>27%</p></td>\n   <td><p>24%</p></td>\n   <td><p>57%</p></td>\n   <td><p>23%</p></td>\n   <td><p>23%</p></td>\n   <td><p>24%</p></td>\n   <td><p>23%</p></td>\n   <td><p>23%</p></td>\n  </tr>\n  <tr>\n   <td><p>Cloud Infrastructure Revenue Growth/Data Volume Growth Factor<i><b>('c')</b></i></p></td>\n   <td><p>3.25</p></td>\n   <td><p>1.02</p></td>\n   <td><p>1.80</p></td>\n   <td><p>1.61</p></td>\n   <td><p>0.62</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n   <td><p>1.65</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>*A =C x B</i></p>\n<p><i>Source:Statista, Khaveen Investments</i></p>\n<p>As mentioned, Artificial Intelligence ('AI') will play a crucial role in synthesizing and storing these waves of data. The race of AI computing technology is being led by semiconductor companies that create the chips that enable technology across all segments of the market. As such, innovations in AI have been especially expeditious in the semiconductor industry with several companies such as Nvidia, Intel and AMD developing significant AI capabilities in their chip systems.</p>\n<p>We view Nvidia in particular, as not just an AI leader of the semiconductor industry, but as the AI leader of the world. Nvidia&nbsp;aims&nbsp;to develop AI solutions for every industry and is already well on the way there. It is the leader in autonomous vehicles, with its&nbsp;AI-enabled&nbsp;Advanced Driver Assistance Systems (ADAS) being developed for global automakers, having already secured $8 bln in automotive&nbsp;design wins. Notwithstanding, Nvidia’s automotive segment only&nbsp;represents&nbsp;3.2% of its revenues. Nvidia’s key data center segment that represents 40.2% of its revenues, is where the company’s AI leadership is really seen. The company recently&nbsp;announced&nbsp;that its AI-powered&nbsp;DGX server&nbsp;has been adopted by the top 10 Aerospace companies, 6 of the top 10 US banks, and 8 out of the 10 top global telcos.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f6012b1f26e3dc39c6d52fa790b5723c\" tg-width=\"640\" tg-height=\"640\" referrerpolicy=\"no-referrer\"><span>Source: Statista</span></p>\n<p>As data volume and workload grow, it gets more difficult to transmit the data. To tackle this, enterprises are expected to bring applications and storage closer to themselves rather than transporting resources to a central location. As a result, large enterprises are more likely to build on-site data storage centers which require the use of an on-site fully built server system. This is where Nvidia’s latest DGX server comes into play. To put things in perspective, these aren’t the $500 GPU chipsets used in PCs. The GPU-enabled DGX servers are provided on a subscription model, with a single one&nbsp;costing&nbsp;a massive $4.3 million a year. As to the capability of DGX, its initial design was reported to have one of the world’s&nbsp;fastest&nbsp;AI workload speeds by the National Energy Research Scientific Computer Center (NERSC). Given both the first mover and technological advantage that Nvidia has, we see the company in a prime position to capture the on-premises server market in addition to the cloud server market. As such we expect the company’s data segment revenue as a percentage of total cloud capex to continue increasing at 3%. This was derived through our calculations by first estimating the total capex by the top 4 cloud providers (Amazon (AMZN), Microsoft (MSFT), Google (GOOG), Alibaba (BABA)) and adjusted by its market share as the total cloud capex.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Cloud Providers Capex ($ mln)</b></p></td>\n   <td><p><b>2011</b></p></td>\n   <td><p><b>2012</b></p></td>\n   <td><p><b>2013</b></p></td>\n   <td><p><b>2014</b></p></td>\n   <td><p><b>2015</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2017</b></p></td>\n   <td><p><b>2018</b></p></td>\n   <td><p><b>2019</b></p></td>\n   <td><p><b>2020</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Amazon</p></td>\n   <td><p>3,785</p></td>\n   <td><p>3,444</p></td>\n   <td><p>4,893</p></td>\n   <td><p>5,387</p></td>\n   <td><p>7,804</p></td>\n   <td><p>11,955</p></td>\n   <td><p>13,427</p></td>\n   <td><p>16,861</p></td>\n   <td><p>40,140</p></td>\n   <td><p>45,427</p></td>\n  </tr>\n  <tr>\n   <td><p>Microsoft</p></td>\n   <td><p>2,355</p></td>\n   <td><p>2,305</p></td>\n   <td><p>4,257</p></td>\n   <td><p>5,485</p></td>\n   <td><p>5,944</p></td>\n   <td><p>8,343</p></td>\n   <td><p>8,129</p></td>\n   <td><p>11,632</p></td>\n   <td><p>13,925</p></td>\n   <td><p>15,441</p></td>\n  </tr>\n  <tr>\n   <td><p>Google</p></td>\n   <td><p>3,438</p></td>\n   <td><p>3,273</p></td>\n   <td><p>7,358</p></td>\n   <td><p>11,014</p></td>\n   <td><p>9,950</p></td>\n   <td><p>10,212</p></td>\n   <td><p>13,184</p></td>\n   <td><p>25,139</p></td>\n   <td><p>23,548</p></td>\n   <td><p>22,281</p></td>\n  </tr>\n  <tr>\n   <td><p>Alibaba</p></td>\n   <td><p>403</p></td>\n   <td><p>768</p></td>\n   <td><p>1,243</p></td>\n   <td><p>1,680</p></td>\n   <td><p>1,598</p></td>\n   <td><p>3,129</p></td>\n   <td><p>5,287</p></td>\n   <td><p>4,596</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total (Top 4)</b></p></td>\n   <td><p><b>9,578</b></p></td>\n   <td><p><b>9,022</b></p></td>\n   <td><p><b>16,911</b></p></td>\n   <td><p><b>22,654</b></p></td>\n   <td><p><b>24,941</b></p></td>\n   <td><p><b>32,190</b></p></td>\n   <td><p><b>36,338</b></p></td>\n   <td><p><b>56,761</b></p></td>\n   <td><p><b>82,900</b></p></td>\n   <td><p><b>87,745</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nvidia, Amazon, Microsoft, Google, Alibaba, Khaveen Investments</i></p>\n<p>We then estimated the total cloud capex growth rate by basing it on the forecasted growth in the cloud infrastructure revenues on a 10-year average factor of 0.68x. With the growth in cloud capex, we computed Nvidia’s share of capex spending which has been growing at 3% on average in the past 7 years. Nvidia’s AI-powered GPU accelerators are&nbsp;deployed&nbsp;in more than 97% of all AI-accelerator hardware used by the top 4 cloud providers (Amazon, Google, Microsoft, and Alibaba). These top 4 cloud providers alone control 67%. Applying our estimated share of capex, we forecasted its total data center revenues growing at around 30%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/972996ded01571c84ee7d865f95435f9\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia, Amazon, Microsoft, Google, Alibaba, Statista, Khaveen Investments</span></p>\n<p><b>Continuous Performance Excellence Leads to Continuous Pricing Premium</b></p>\n<p>Nvidia’s Gaming segment revenue growth has&nbsp;averaged&nbsp;a stellar 27% in the past 7 years. The main contributor is rising ASPs which averaged 27% whereas&nbsp;shipments&nbsp;growth was flat. Although Nvidia accounts for 81% of the discrete GPU market share and steadily rising, its market share in the overall GPU market has declined slightly against AMD (AMD) and Intel (INTC) who also manufactures integrated GPUs but is planning to develop its Alchemist product while Nvidia only produces discrete chips.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5ed7f76f27711b67ba1d494638a060a\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Statista, JPR, Khaveen Investments</span></p>\n<p>Based on its stagnant share of the overall GPU market, this implies that demand for the integrated GPU market continues to remain strong. PC shipments grew at -0.8% within the same period. Whereas GPU unit shipments were lower than the PC shipment growth with an average of -2%. One of the attributable factors is the rising GPU costs relative to stagnant PC&nbsp;prices. In the past 5 years, Nvidia’s average ASP as a percentage of PC ASP has risen from 19% to 38%, making it harder for PC makers to cater to the mid-range and entry-level markets which presence remains stable. As costs continue to increase and Intel seeks to capitalize on its&nbsp;refreshed&nbsp;Intel Iris Xe integrated chips, we see Nvidia’s share of overall GPUs to decline and PC shipments&nbsp;CAGR&nbsp;of 3% through 2025.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Gaming PC Share of Market Revenues</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2020</b></p></td>\n  </tr>\n  <tr>\n   <td><p>High End</p></td>\n   <td><p>43%</p></td>\n   <td><p>47%</p></td>\n  </tr>\n  <tr>\n   <td><p>Mid-Range</p></td>\n   <td><p>35%</p></td>\n   <td><p>34%</p></td>\n  </tr>\n  <tr>\n   <td><p>Entry Level</p></td>\n   <td><p>22%</p></td>\n   <td><p>19%</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source:JPR</i></p>\n<p>However, every year, Nvidia releases a new product lineup offering better performance against the previous models. From&nbsp;GPU&nbsp;Check, we obtained the average benchmark score of all GPU models released for each year to obtain an average score and the average performance increase at 22% per year. Then, the average performance increase is compared to the increase in Nvidia’s ASPs for each year to derive the ASP growth to performance growth factor average of 1.1x. This implies that Nvidia’s GPU performance increase can sustain its ASP growth at a factor of 1.1x. We believe this to be fair, given the company’s solid track record of continuous product development. Its next generation of GPUs with the Ampere Next architecture is expected to be launched next year with the anticipated RTX 4000&nbsp;series&nbsp;a successor to its current lineup. One of the major significant upgrades anticipated is the&nbsp;switch&nbsp;towards TSMC’s(NYSE:TSM)N5 process allowing even more GPU cores and transistors than the current Ampere GPUs manufactured on TSMC’s N7 and Samsung(OTC:SSNLF)8N process. Even longer-term, the company’s roadmaps indicate continued innovation with the following generation of ‘Ampere Next Next’ expected in 2024 which could utilize TSMC’s N3 process.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2c0ab0660f3bc9b1ab75ae03877a268d\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Statista, GPU Checker, Khaveen Investments</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/82397f7b6f6e1ac39d9771917dfbfb12\" tg-width=\"455\" tg-height=\"691\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia, Statista, JPR, GPU Checker</span></p>\n<p>All in all, the main driver of gaming revenues is rising prices from continuous product development rather than unit shipments. Nonetheless, the robust demand on GPU shipments seen based on data from JPR indicates a major tailwind in 2021 and forecasted a growth rate of 36% based on the average GPU shipments growth rates of Q1 and Q2. Though we expect growth to normalize, and we based our shipment growth assumption beyond 2021 on a 3.5%&nbsp;CAGR&nbsp;through 2025. Also, accounting for Nvidia’s market share in GPUs, we derived its total unit shipment as well as ASP growth to forecast its total gaming revenue growth.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1cb4092eda26a27e19113abde9ffe4e5\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Nvidia, Statista, JPR</span></p>\n<table>\n <tbody></tbody>\n</table>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Annualized Nvidia</b></p></td>\n   <td><p><b>2016</b></p></td>\n   <td><p><b>2017</b></p></td>\n   <td><p><b>2018</b></p></td>\n   <td><p><b>2019</b></p></td>\n   <td><p><b>2020</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Shipments<b><i>('a')</i></b></p></td>\n   <td><p>34.76</p></td>\n   <td><p>37.67</p></td>\n   <td><p>33.58</p></td>\n   <td><p>27.68</p></td>\n   <td><p>31.95</p></td>\n   <td><p>43.45</p></td>\n   <td><p>44.97</p></td>\n   <td><p>46.55</p></td>\n   <td><p>48.18</p></td>\n   <td><p>49.86</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Shipments Growth %</b></p></td>\n   <td><p><b>-1%</b></p></td>\n   <td><p><b>8%</b></p></td>\n   <td><p><b>-11%</b></p></td>\n   <td><p><b>-18%</b></p></td>\n   <td><p><b>15%</b></p></td>\n   <td><p><b>36.0%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n   <td><p><b>3.5%</b></p></td>\n  </tr>\n  <tr>\n   <td><p>ASPs<b><i>('b')</i></b></p></td>\n   <td><p>116.8</p></td>\n   <td><p>146.4</p></td>\n   <td><p>186.1</p></td>\n   <td><p>199.4</p></td>\n   <td><p>242.8</p></td>\n   <td><p>300.4</p></td>\n   <td><p>371.5</p></td>\n   <td><p>459.5</p></td>\n   <td><p>568.3</p></td>\n   <td><p>702.8</p></td>\n  </tr>\n  <tr>\n   <td><p><b>ASP Growth %</b></p></td>\n   <td><p><b>45%</b></p></td>\n   <td><p><b>25%</b></p></td>\n   <td><p><b>27%</b></p></td>\n   <td><p><b>7%</b></p></td>\n   <td><p><b>22%</b></p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n   <td><p>24%</p></td>\n  </tr>\n  <tr>\n   <td><p>Gaming Revenues ($ mln)<b><i>('c')</i></b></p></td>\n   <td><p>4,060</p></td>\n   <td><p>5,513</p></td>\n   <td><p>6,250</p></td>\n   <td><p>5,518</p></td>\n   <td><p>7,759</p></td>\n   <td><p>13,051</p></td>\n   <td><p>16,707</p></td>\n   <td><p>21,386</p></td>\n   <td><p>27,377</p></td>\n   <td><p>35,045</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Gaming Revenues Growth %</b></p></td>\n   <td><p><b>44.1%</b></p></td>\n   <td><p><b>35.8%</b></p></td>\n   <td><p><b>13.4%</b></p></td>\n   <td><p><b>-11.7%</b></p></td>\n   <td><p><b>40.6%</b></p></td>\n   <td><p><b>68.2%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n   <td><p><b>28.0%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>*C = A x B</i></p>\n<p><i>Source: Nvidia,Statista,JPR,WCCF Tech</i></p>\n<p><b>Growth From Arm Regardless of Acquisition Approval</b></p>\n<p>Already a leading developer of GPUs, Nvidia is using its advantage in AI to produce a range of new products. It is acquiring Arm to leverage its CPU capabilities across key industries as seen with theexpansionof its Certified Systems with BlueField DPU SoCsfeaturing22 bln transistors and incorporating 16 Arm-based CPUs along with a 400 gigabits-per-second networking chip. The combination of both company’scapabilitieswith CPU from Arm and Mellanox networking solution for an advanced chip enhanced by is AI Enterprise software suite in partnership with VMware (VMW) vSphere creating a new market for Nvidia. The company has already received strong support fromcustomersincluding Dell Technologies (DELL), Inspur (OTC:INPRF), Lenovo (OTCPK:LNVGY) and Supermicro integrating its DPUs into their systems. Besides that, cloud service providers such as Baidu are using its DPUs to accelerate workloads. Additionally, it is also planning to enter the data centerCPUmarket with Nvidia Grace against incumbents Intel and AMD.</p>\n<p>That said, the deal is pending regulatory approval and management isexpectingto obtain clearance by early 2022. The HHI index is a measure of market competitiveness commonlyusedby governmental bodies such as the FTC and the Department of Justice in M&amp;A deals. It serves as guidance whether a deal would go through, or antitrust action would be taken depending on the concentration level.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Post-Merger HHI</b></p></td>\n   <td><p><b>Change from Premerger HHI</b></p></td>\n   <td><p><b>Antitrust Action</b></p></td>\n  </tr>\n  <tr>\n   <td><p>HHI &lt; 1000</p><p>Not concentrated,</p></td>\n   <td><p>Any</p></td>\n   <td><p>No action likely</p></td>\n  </tr>\n  <tr>\n   <td><p>1000 &lt; HHI &lt; 1800</p><p>Moderately Concentrated,</p></td>\n   <td><p>&gt;100</p></td>\n   <td><p>Moderately Concentrated, Possible Action</p></td>\n  </tr>\n  <tr>\n   <td><p>1800 &lt; HHI</p><p>Highly Concentrated,</p></td>\n   <td><p>&gt;50</p></td>\n   <td><p>Challenge very Likely</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source:OpenTextBC</i></p>\n<p>For the Arm deal, the HHI calculation would be applied on the PC CPU and server market shares only as only Nvidia, AMD and Intel compete within the GPU markets. In Nvidia’s case, the HHI value for both markets would not change as it represents Arm’s share. For example, the PC CPU market HHI is valued at 4,312 in both pre-and post-acquisition.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/25d0e917d9b288aacef22216402afb43\" tg-width=\"906\" tg-height=\"507\" width=\"100%\" height=\"auto\"><span>Source: Statista, PCMag</span></p>\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p>Similarly, the CPU market for servers would derive the same HHI score as the PC CPU market as Nvidia would replace Arm’s share. There is no change to the HHI score of 6,334.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2437536c9440e5a297dd29bf0fa530b8\" tg-width=\"906\" tg-height=\"508\" width=\"100%\" height=\"auto\"><span>Source: Nextplatform, Itcandor</span></p>\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p>If we consider Nvidia’s planned entry to the server CPU market with the launch of Nvidia Grace. Even a small increase in share for Nvidia would lead to a reduction in the HHI value by 188. This highlights Intel’s incredibly high market share. Even if the deal does not go through, the market would still become more competitive. Thus, based on the change in HHI values, Nvidia has a rather unique case for the deal going through. It does not compete with Arm directly PC and server CPU markets, it would just take up Arm’s market share and would not lead to any change to the HHI. In fact, it could make the market even more competitive.</p>\n<blockquote>\n Regulators are \"looking to ensure that their markets are pro-competitive, that this is pro-innovation… and this is good for customers. We can prove that and show that and demonstrate that overwhelmingly, so I have no concerns. -\n <i>Jen-Hsun Huang,CEO of Nvidia</i>\n</blockquote>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Server CPU Market Share Pre-Acquisition</b></p></td>\n   <td><p><b>Share</b></p></td>\n   <td><p><b>s</b></p></td>\n   <td><p><b>s^2</b></p></td>\n   <td><p><b>Server CPU Post Acquisition</b></p></td>\n   <td><p><b>Share</b></p></td>\n   <td><p><b>s</b></p></td>\n   <td><p><b>s^2</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Intel</p></td>\n   <td><p>78%</p></td>\n   <td><p>78</p></td>\n   <td><p>6084</p></td>\n   <td><p>Intel</p></td>\n   <td><p>77%</p></td>\n   <td><p>77</p></td>\n   <td><p>5929</p></td>\n  </tr>\n  <tr>\n   <td><p>AMD</p></td>\n   <td><p>9%</p></td>\n   <td><p>9</p></td>\n   <td><p>81</p></td>\n   <td><p>AMD</p></td>\n   <td><p>8%</p></td>\n   <td><p>8</p></td>\n   <td><p>64</p></td>\n  </tr>\n  <tr>\n   <td><p>Arm</p></td>\n   <td><p>13%</p></td>\n   <td><p>13</p></td>\n   <td><p>169</p></td>\n   <td><p>Arm</p></td>\n   <td><p>12%</p></td>\n   <td><p>12</p></td>\n   <td><p>144</p></td>\n  </tr>\n  <tr>\n   <td><p>-</p></td>\n   <td><p>Nvidia</p></td>\n   <td><p>3%</p></td>\n   <td><p>3</p></td>\n   <td><p>9</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total</b></p></td>\n   <td><p><b>6334</b></p></td>\n   <td><p><b>Total</b></p></td>\n   <td><p><b>6146</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nextplatform, Itcandor, Khaveen Investments</i></p>\n<p>Furthermore, Nvidia’s acquisition comes at a time when M&amp;A activity has risen in the semiconductor market with the average deal value rising by more than 5 times since 2015. Should the deal go through, it would make it the most valuable semicon deal in history at $40 bln. Though, larger deals in the past have broken down due to antitrust. Out of 32 of the largestdealssince 2015, only 3 major deals above $1 bln have fallen apart representing a 9.3% rejection rateincludingKLA (KLAC) and Lam Research (LRCX) merger, Qualcomm (QCOM) acquisition of NXP(NASDAQ:NXPI)and Broadcom’s (AVGO) acquisition of Qualcomm. On the other hand, smaller deals valued at below $1 bln had fewer issues with antitrust. Of the 98 deals, only 4 deals were stopped by regulators which is a 4% rejection rate. This implies that larger deals attract greater scrutiny, which is negative for Nvidia considering it is the highest valued semicon deal.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f15f3619d3f243fbda6bedc37d7bb89c\" tg-width=\"482\" tg-height=\"246\" width=\"100%\" height=\"auto\"><span>Source:Design&amp;Reuse</span></p>\n<p><b>Acquisition Approval Risk</b></p>\n<p>Initially, the expectation of the Arm acquisition deal to go through is by Q1 2022 but subject to regulatory approval from various governmental bodies. There are several arguments that the deal might be delayed or would ultimately fail to get approval. Based on our previousanalysis, we highlighted several headwinds that could arise from regulators across various jurisdictions which include:</p>\n<ul>\n <li>Tensions between the US and China and to protect Arm China against possible intervention by foreign governments in the future</li>\n <li>The intention for the UK to protect its local industry and prioritize local jobs, technological expertise and intellectual property</li>\n <li>European authorities seeking to protect companies’ access to advanced technology and preserve sovereignty and independence</li>\n</ul>\n<p>While management stated its confidence that the Arm deal would go through as planned, these headwinds may pose a risk for the company to meet its deadline. In the Q2 2022 earnings briefing, Nvidia acknowledged the headwinds in obtaining regulatoryapprovalwhich is taking longer than initially thought.</p>\n<blockquote>\n We are working through the regulatory process, although some Arm licensees have expressed concerns and objected to the transaction, and discussions with regulators are taking longer than initially thought\n <i>- Nvidia CFOColette Kress</i>\n</blockquote>\n<p>A breakdown of the agreement could lead to the company incurring fees related to the failure of the acquisition. A couple of months ago, the deal faced several risks of beingdelayedas seen with the European regulator’s reluctance to consider the case until after the summer holidays to gather more information. Nvidia is reported to notify the European Commission in early September as the EU is set tolauncha formal probe into the deal. Also, the US FTC has been seeking to gather more information while Big Techs including Google, Microsoft, and Qualcomm complained about limiting competition. Whereas in China, the company applied with Chinese authorities but appears to be facing tensions with the axed CEO of Arm China which ischallengingthe company for unfair dismissal.</p>\n<p>It is believed that the agreement allows both companies to extend the deal to Q3 2022 but either party could walk away beyond that. That said, even the deal fails to go through, we believe that the company may be able to realize synergies anyway given its strong product development in the pipeline.</p>\n<p><b>Valuation</b></p>\n<p>The company has had an average revenue growth rate of 29.01% in the past 5 years with average gross and net margins of 61.05% and 28.4% respectively. The strength of its earnings and margins is its increasing margin as a result of lower COGS as a percentage of revenues which declined by 3.9% on average in the past 10 years. In comparison to other chipmakers, Nvidia’s gross margins are higher than the industry average of 47.2% and net margins of 13.2% which highlights its superior pricing power which saw ASPs rising by 25% on average in the past 6 years due to its dominance over the discrete GPU market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3bfb1b7c9d729426c5e3c88230e32091\" tg-width=\"640\" tg-height=\"360\" width=\"100%\" height=\"auto\"><span>Source: Nvidia, Khaveen Investments</span></p>\n<p>In terms of cash flows, the company’s 5-year average FCF margin is 15.14% and has steadily increased as it grows its operating cash flows. Its margins appear to be volatile due to its investments in marketable securities with an inflow of $6.6 bln in 2019 and an outflow of $10 bln in 2020. However, excluding this, it has very high levels of cash generation with an adjusted average FCF margin of 29.1%. Thus, it is not only saving up for larger acquisitions in the future, but it indicates its solid profitability and earning power which would make it highly valuable even when growth slows down.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de12e328a7e3922a8cb21f9f53b77128\" tg-width=\"640\" tg-height=\"360\" width=\"100%\" height=\"auto\"><span>Source: Nvidia, Khaveen Investments</span></p>\n<p>Moreover, the company has a strong balance sheet with a debt-to-equity ratio of 0.7x in 2020 with a high EBITDA interest coverage of 114x in the past 5 years indicating its solid ability to repay its debts. In comparison with other chipmaker competitors, its debt-to-equity is significantly lower than the average of 1.35x which highlights its advantage as a fabless chipmaker with a lean balance sheet.</p>\n<p>We valued the company based on a P/S valuation due to its superb revenue growth as a rapidly growing company. To determine the appropriate P/S multiple to use, we calculated the average P/S ratio of the chipmakers according to their 5-year CAGR.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Average Chipmaker Revenue CAGR (5Yrs)</b></p></td>\n   <td><p><b>PS Ratio</b></p></td>\n  </tr>\n  <tr>\n   <td><p>35%+</p></td>\n   <td><p>25.07</p></td>\n  </tr>\n  <tr>\n   <td><p>30%-35%</p></td>\n   <td><p>22.03</p></td>\n  </tr>\n  <tr>\n   <td><p>25%-30%</p></td>\n   <td><p>20.00</p></td>\n  </tr>\n  <tr>\n   <td><p>20%-25%</p></td>\n   <td><p>15.95</p></td>\n  </tr>\n  <tr>\n   <td><p>15% -20%</p></td>\n   <td><p>11.73</p></td>\n  </tr>\n  <tr>\n   <td><p>10%-15%</p></td>\n   <td><p>7.52</p></td>\n  </tr>\n  <tr>\n   <td><p>0%-10%</p></td>\n   <td><p>6.76</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: SeekingAlpha, Khaveen Investments</i></p>\n<p>Firstly, we forecasted its revenues through 2025 without including Arm based on Nvidia growth in gaming and data center as discussed above. The automotive revenues are projected based on a 22% CAGR derived from its $8 bln automotive pipeline assuming it realizes it by 2025. The professional visualization segment is based on the workstation marketCAGRof 9.8% from 2022 through 2025 while the OEM revenues are based on annualized results in 2021.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Nvidia Revenue Forecast Without Arm ($ mln)</b></p></td>\n   <td><p><b>2020</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Gaming</p></td>\n   <td><p>7,759</p></td>\n   <td><p>13,051</p></td>\n   <td><p>16,707</p></td>\n   <td><p>21,386</p></td>\n   <td><p>27,377</p></td>\n   <td><p>35,045</p></td>\n  </tr>\n  <tr>\n   <td><p>Professional Visualization</p></td>\n   <td><p>1,053</p></td>\n   <td><p>1,782</p></td>\n   <td><p>1,957</p></td>\n   <td><p>2,148</p></td>\n   <td><p>2,359</p></td>\n   <td><p>2,590</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Center</p></td>\n   <td><p>6,696</p></td>\n   <td><p>9,649</p></td>\n   <td><p>11,727</p></td>\n   <td><p>14,410</p></td>\n   <td><p>17,452</p></td>\n   <td><p>21,298</p></td>\n  </tr>\n  <tr>\n   <td><p>Automotive</p></td>\n   <td><p>536</p></td>\n   <td><p>654</p></td>\n   <td><p>798</p></td>\n   <td><p>973</p></td>\n   <td><p>1,187</p></td>\n   <td><p>1,449</p></td>\n  </tr>\n  <tr>\n   <td><p>OEM and Other</p></td>\n   <td><p>631</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n   <td><p>1,472</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total</b></p></td>\n   <td><p><b>16,675</b></p></td>\n   <td><p><b>26,608</b></p></td>\n   <td><p><b>32,660</b></p></td>\n   <td><p><b>40,390</b></p></td>\n   <td><p><b>49,847</b></p></td>\n   <td><p><b>61,853</b></p></td>\n  </tr>\n  <tr>\n   <td><p><b>Growth %</b></p></td>\n   <td><p><b>53%</b></p></td>\n   <td><p>59.6%</p></td>\n   <td><p>22.7%</p></td>\n   <td><p>23.7%</p></td>\n   <td><p>23.4%</p></td>\n   <td><p>24.1%</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nvidia, Khaveen Investments</i></p>\n<p>In addition, we previously computed the potentialsynergiesfrom Arm should the deal go through as planned in 2022. Furthermore, Arm’s revenues are also included in the forecast.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Synergies ($ mln)</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Gaming</p></td>\n   <td><p>742</p></td>\n   <td><p>1,993</p></td>\n   <td><p>4,018</p></td>\n   <td><p>6,327</p></td>\n  </tr>\n  <tr>\n   <td><p>Professional Visualization</p></td>\n   <td><p>90</p></td>\n   <td><p>205</p></td>\n   <td><p>351</p></td>\n   <td><p>489</p></td>\n  </tr>\n  <tr>\n   <td><p>Data Center</p></td>\n   <td><p>459</p></td>\n   <td><p>1,406</p></td>\n   <td><p>3,230</p></td>\n   <td><p>5,694</p></td>\n  </tr>\n  <tr>\n   <td><p>Automotive</p></td>\n   <td><p>25</p></td>\n   <td><p>69</p></td>\n   <td><p>140</p></td>\n   <td><p>207</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Total Synergies</b></p></td>\n   <td><p><b>1,316</b></p></td>\n   <td><p><b>3,673</b></p></td>\n   <td><p><b>7,739</b></p></td>\n   <td><p><b>12,717</b></p></td>\n  </tr>\n  <tr>\n   <td><p><b>Arm Revenues</b></p></td>\n   <td><p><b>2,145</b></p></td>\n   <td><p><b>2,280</b></p></td>\n   <td><p><b>2,423</b></p></td>\n   <td><p><b>2,576</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Nvidia, Khaveen Investments</i></p>\n<p><b>Bear Case</b></p>\n<p>The bear case valuation assumes a 25% probability of the deal going through should the company face challenges from antitrust regulators. Also, the bear case assumes 80% of synergies and Arm revenues would be realized.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Bear Case</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Nvidia revenues ($ mln)</p></td>\n   <td><p>26,608</p></td>\n   <td><p>33,995</p></td>\n   <td><p>42,265</p></td>\n   <td><p>52,607</p></td>\n   <td><p>65,685</p></td>\n  </tr>\n  <tr>\n   <td><p>Growth %</p></td>\n   <td><p>59.6%</p></td>\n   <td><p>27.8%</p></td>\n   <td><p>24.3%</p></td>\n   <td><p>24.5%</p></td>\n   <td><p>24.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>P/S Ratio</p></td>\n   <td><p>25.07</p></td>\n   <td><p>20.00</p></td>\n   <td><p>15.95</p></td>\n   <td><p>15.95</p></td>\n   <td><p>15.95</p></td>\n  </tr>\n  <tr>\n   <td><p>Valuation ($ mln)</p></td>\n   <td><p>667,068</p></td>\n   <td><p>680,022</p></td>\n   <td><p>674,119</p></td>\n   <td><p>839,081</p></td>\n   <td><p>1,047,673</p></td>\n  </tr>\n  <tr>\n   <td><p>Number of shares outstanding ('mln')</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Target Share Price</b></p></td>\n   <td><p><b>$267.90</b></p></td>\n   <td><p><b>$273.10</b></p></td>\n   <td><p><b>$270.73</b></p></td>\n   <td><p><b>$336.98</b></p></td>\n   <td><p><b>$420.75</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Current Share Price</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Upside</b></p></td>\n   <td><p><b>19.6%</b></p></td>\n   <td><p><b>21.9%</b></p></td>\n   <td><p><b>20.9%</b></p></td>\n   <td><p><b>50.5%</b></p></td>\n   <td><p><b>87.9%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p><b>Base Case</b></p>\n<p>Whereas the base case assumes a 50% probability on the basis of its continued progress to complete the deal but also the possible delays due to regulators requiring more information. Also, we assume 100% of synergies to be realised through the acquisition.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Base Case</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Nvidia revenues ($ mln)</p></td>\n   <td><p>26,608</p></td>\n   <td><p>34,927</p></td>\n   <td><p>43,937</p></td>\n   <td><p>55,534</p></td>\n   <td><p>70,144</p></td>\n  </tr>\n  <tr>\n   <td><p>Growth %</p></td>\n   <td><p>59.6%</p></td>\n   <td><p>31.3%</p></td>\n   <td><p>25.8%</p></td>\n   <td><p>26.4%</p></td>\n   <td><p>26.3%</p></td>\n  </tr>\n  <tr>\n   <td><p>P/S Ratio</p></td>\n   <td><p>25.07</p></td>\n   <td><p>22.03</p></td>\n   <td><p>20.00</p></td>\n   <td><p>20.00</p></td>\n   <td><p>20.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Valuation ($ mln)</p></td>\n   <td><p>667,068</p></td>\n   <td><p>769,432</p></td>\n   <td><p>878,877</p></td>\n   <td><p>1,110,874</p></td>\n   <td><p>1,403,114</p></td>\n  </tr>\n  <tr>\n   <td><p>Number of shares outstanding ('mln')</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Target Share Price</b></p></td>\n   <td><p><b>$267.90</b></p></td>\n   <td><p><b>$309.01</b></p></td>\n   <td><p><b>$352.96</b></p></td>\n   <td><p><b>$446.13</b></p></td>\n   <td><p><b>$563.50</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Current Share Price</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Upside</b></p></td>\n   <td><p><b>19.6%</b></p></td>\n   <td><p><b>38.0%</b></p></td>\n   <td><p><b>57.6%</b></p></td>\n   <td><p><b>99.2%</b></p></td>\n   <td><p><b>151.6%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p><b>Bull Case</b></p>\n<p>Finally, the bull case assumes a 100% probability as we believe the acquisition would not lead to greater market concentration but rather a more competitive one as its case for the deal to go through. Also, we assume 120% of synergies to be realised through the acquisition.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>Bull Case</b></p></td>\n   <td><p><b>2021F</b></p></td>\n   <td><p><b>2022F</b></p></td>\n   <td><p><b>2023F</b></p></td>\n   <td><p><b>2024F</b></p></td>\n   <td><p><b>2025F</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Nvidia revenues ($ mln)</p></td>\n   <td><p>26,608</p></td>\n   <td><p>36,384</p></td>\n   <td><p>47,078</p></td>\n   <td><p>61,558</p></td>\n   <td><p>79,690</p></td>\n  </tr>\n  <tr>\n   <td><p>Growth %</p></td>\n   <td><p>59.6%</p></td>\n   <td><p>36.7%</p></td>\n   <td><p>29.4%</p></td>\n   <td><p>30.8%</p></td>\n   <td><p>29.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>P/S Ratio</p></td>\n   <td><p>25.07</p></td>\n   <td><p>25.07</p></td>\n   <td><p>20.00</p></td>\n   <td><p>22.03</p></td>\n   <td><p>20.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Valuation ($ mln)</p></td>\n   <td><p>667,068</p></td>\n   <td><p>912,153</p></td>\n   <td><p>941,714</p></td>\n   <td><p>1,356,113</p></td>\n   <td><p>1,594,068</p></td>\n  </tr>\n  <tr>\n   <td><p>Number of shares outstanding ('mln')</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n   <td><p>2,490</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Target Share Price</b></p></td>\n   <td><p><b>$267.90</b></p></td>\n   <td><p><b>$366.33</b></p></td>\n   <td><p><b>$378.20</b></p></td>\n   <td><p><b>$544.62</b></p></td>\n   <td><p><b>$640.19</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Current Share Price</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>$223.96</p></td>\n  </tr>\n  <tr>\n   <td><p><b>Upside</b></p></td>\n   <td><p><b>19.6%</b></p></td>\n   <td><p><b>63.6%</b></p></td>\n   <td><p><b>68.9%</b></p></td>\n   <td><p><b>143.2%</b></p></td>\n   <td><p><b>185.8%</b></p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8db79f76b76c1204c2fcb9cbcc04f1e2\" tg-width=\"640\" tg-height=\"360\" width=\"100%\" height=\"auto\"><span>Source: Khaveen Investments</span></p>\n<p>Our 1-year average price target for the bear, base and bull case is $270.50, $288.45, $317.11 with an upside of 20.8%, 28.8% and 41.6% respectively.</p>\n<table>\n <tbody>\n  <tr>\n   <td><p><b>1-year Average Price Target</b></p></td>\n   <td><p><b>Target Price</b></p></td>\n   <td><p><b>Current Price</b></p></td>\n   <td><p><b>Upside</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Bear Case</p></td>\n   <td><p>$270.50</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>20.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>Base Case</p></td>\n   <td><p>$288.45</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>28.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>Bull Case</p></td>\n   <td><p>$317.11</p></td>\n   <td><p>$223.96</p></td>\n   <td><p>41.6%</p></td>\n  </tr>\n </tbody>\n</table>\n<p><i>Source: Khaveen Investments</i></p>\n<p><b>Verdict</b></p>\n<p>To sum it up, the company’s growth prospects are supported by its solid innovative capabilities leading to its AI leadership and GPU performance excellence. Highlighting the advancement of its AI strategy around the data center markets, we believe it can capitalize on the booming cloud growth and increasing capex share to benefit its data center revenues. Additionally, despite the flattish shipment growth, we believe it can continue to grow its gaming revenues highlighting its consistent performance improvement with its next-gen Ampere Next based models. As it advances its AI strategy, it is looking to leverage Arm’s incredible CPU IP across its latest product R&amp;D for the data center for future launches. Compared to our previous analysis, we applied a quantitative P/S multiple to reflect its superb growth outlook as one of the highest in the industry. Based on our valuation model using a P/S multiple, its projected revenue growth rate of 59.6% in 2021 driven by strong growth momentum across gaming and data center segments provides an upside opportunity of 28.8% as its stock price has already increased by 71% year to date. Overall, we rate the company as a<i>Buy</i>with a target price of<i>$288.45.</i></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia: AI Leadership Key To Continuous Double-Digit Stock Price Growth</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNvidia: AI Leadership Key To Continuous Double-Digit Stock Price Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-07 11:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4453780-nvidia-ai-leadership-key-to-continuous-double-digit-stock-price-growth><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe company’s share price has surged 42% along with its revenues at 54%, we aimed to determine if the share price has reached its peak or if there is more.\nIt is advancing its AI leadership ...</p>\n\n<a href=\"https://seekingalpha.com/article/4453780-nvidia-ai-leadership-key-to-continuous-double-digit-stock-price-growth\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://seekingalpha.com/article/4453780-nvidia-ai-leadership-key-to-continuous-double-digit-stock-price-growth","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170846245","content_text":"Summary\n\nThe company’s share price has surged 42% along with its revenues at 54%, we aimed to determine if the share price has reached its peak or if there is more.\nIt is advancing its AI leadership to capture growth opportunities in the booming cloud market fueled by the rising volume of data.\nWe determine that pricing increase rather than shipment growth was the key to its PC GPU sales, and its pricing power was due to its performance improvements with every new.\nDespite the company’s Arm acquisition still pending regulatory approval, it has gone ahead in advancing its product development with Arm’s architecture, with its new BlueField DPU and Nvidia Grace.\n\nDavid Becker/Getty Images News\nSince our previous analysis on Nvidia Corp (NVDA), the company’s full-year revenues have increased by 53% in 2020 which has exceeded our expectations of 43% growth with higher GPU sales across PC and data center markets. As such, the company’s stock price also surges well past our previous price target of $578.39. In this analysis, we determine if its impressive growth can continue and justify a higher valuation for the company.\nThe main segments of the company contributing to its high growth were the Data center & Gaming segment representing 40.2% and 46.5% of its total revenues respectively. We identified Nvidia’s AI leadership as a key advantage fuelling the growth across its data center segment capitalizing on rising data creation from AI, HPC and IoT applications with its AI leadership through its innovative products catered towards the booming cloud market. Besides data centers, gaming continues to be a key driver with its continuous performance improvements backed by new releases of next-generation GPU models contributing to rising pricing power to maintain ASP growth.\nFinally, we followed up on the Arm acquisition which is slated by management to conclude by early 2022. Through the acquisition of Arm, it not only earns incremental licensing revenue but also the ability to further leverage its CPU capabilities to develop and expand its range of Arm-based products including upcoming CPUs launches and the latest DPU SoCs. As the company is in the progress of obtaining regulatory clearance, we analysed the effect of the acquisition on the market competitiveness of the CPU markets.\nSource: Nvidia\nAI Leadership ensures High Growth Across Key Data Centre Segment\nThe increasing volumes of data created will fuel data center growth over the next decade. An important aspect of this will be machine-to-machine and Artificial Intelligence ('AI') technologies that enable massive volumes of data to be processed with ease and speed. AI data processing is made possible by a system of linked supercomputers that are used to process complex workloads by running millions of simulations and financial models to generate predictions from massive volumes of data by identifying a pattern and then replicating that pattern identification across other data. As can be imagined,AI computing would require massive computing infrastructure.\nDriven by the advent of AI, HPC, IoT and edge computing,data creation is projected to grow at a rate of around 23% in the next 5 years. This would require greater cloud infrastructure to handle the increase in data. To determine the growth in cloud infrastructure revenues, we identified the factor of correlation of cloud infrastructure revenues to data volume growth over the past 10 years. The factor identified of 1.65x was applied to data volume growth projections to estimate the cloud infrastructure market growth rate to the year 2025.\nSource: Statista, Khaveen Investments\n\n\n\nVolume of Data Worldwide\n2016\n2017\n2018\n2019\n2020\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nCloud Infrastructure Market Revenues ($ bln)\n32\n46.5\n69\n96\n129.5\n178.9\n246.3\n342.9\n470.6\n650.6\n\n\nCloud Infrastructure Market Revenue Growth %('a')\n52%\n45%\n48%\n39%\n35%\n38%\n38%\n39%\n37%\n38%\n\n\nData Volume (ZB)\n18\n26\n33\n41\n64.2\n79\n97\n120\n147\n181\n\n\nData Volume Growth %('b')\n16%\n44%\n27%\n24%\n57%\n23%\n23%\n24%\n23%\n23%\n\n\nCloud Infrastructure Revenue Growth/Data Volume Growth Factor('c')\n3.25\n1.02\n1.80\n1.61\n0.62\n1.65\n1.65\n1.65\n1.65\n1.65\n\n\n\n*A =C x B\nSource:Statista, Khaveen Investments\nAs mentioned, Artificial Intelligence ('AI') will play a crucial role in synthesizing and storing these waves of data. The race of AI computing technology is being led by semiconductor companies that create the chips that enable technology across all segments of the market. As such, innovations in AI have been especially expeditious in the semiconductor industry with several companies such as Nvidia, Intel and AMD developing significant AI capabilities in their chip systems.\nWe view Nvidia in particular, as not just an AI leader of the semiconductor industry, but as the AI leader of the world. Nvidia aims to develop AI solutions for every industry and is already well on the way there. It is the leader in autonomous vehicles, with its AI-enabled Advanced Driver Assistance Systems (ADAS) being developed for global automakers, having already secured $8 bln in automotive design wins. Notwithstanding, Nvidia’s automotive segment only represents 3.2% of its revenues. Nvidia’s key data center segment that represents 40.2% of its revenues, is where the company’s AI leadership is really seen. The company recently announced that its AI-powered DGX server has been adopted by the top 10 Aerospace companies, 6 of the top 10 US banks, and 8 out of the 10 top global telcos.\nSource: Statista\nAs data volume and workload grow, it gets more difficult to transmit the data. To tackle this, enterprises are expected to bring applications and storage closer to themselves rather than transporting resources to a central location. As a result, large enterprises are more likely to build on-site data storage centers which require the use of an on-site fully built server system. This is where Nvidia’s latest DGX server comes into play. To put things in perspective, these aren’t the $500 GPU chipsets used in PCs. The GPU-enabled DGX servers are provided on a subscription model, with a single one costing a massive $4.3 million a year. As to the capability of DGX, its initial design was reported to have one of the world’s fastest AI workload speeds by the National Energy Research Scientific Computer Center (NERSC). Given both the first mover and technological advantage that Nvidia has, we see the company in a prime position to capture the on-premises server market in addition to the cloud server market. As such we expect the company’s data segment revenue as a percentage of total cloud capex to continue increasing at 3%. This was derived through our calculations by first estimating the total capex by the top 4 cloud providers (Amazon (AMZN), Microsoft (MSFT), Google (GOOG), Alibaba (BABA)) and adjusted by its market share as the total cloud capex.\n\n\n\nCloud Providers Capex ($ mln)\n2011\n2012\n2013\n2014\n2015\n2016\n2017\n2018\n2019\n2020\n\n\nAmazon\n3,785\n3,444\n4,893\n5,387\n7,804\n11,955\n13,427\n16,861\n40,140\n45,427\n\n\nMicrosoft\n2,355\n2,305\n4,257\n5,485\n5,944\n8,343\n8,129\n11,632\n13,925\n15,441\n\n\nGoogle\n3,438\n3,273\n7,358\n11,014\n9,950\n10,212\n13,184\n25,139\n23,548\n22,281\n\n\nAlibaba\n403\n768\n1,243\n1,680\n1,598\n3,129\n5,287\n4,596\n\n\nTotal (Top 4)\n9,578\n9,022\n16,911\n22,654\n24,941\n32,190\n36,338\n56,761\n82,900\n87,745\n\n\n\nSource: Nvidia, Amazon, Microsoft, Google, Alibaba, Khaveen Investments\nWe then estimated the total cloud capex growth rate by basing it on the forecasted growth in the cloud infrastructure revenues on a 10-year average factor of 0.68x. With the growth in cloud capex, we computed Nvidia’s share of capex spending which has been growing at 3% on average in the past 7 years. Nvidia’s AI-powered GPU accelerators are deployed in more than 97% of all AI-accelerator hardware used by the top 4 cloud providers (Amazon, Google, Microsoft, and Alibaba). These top 4 cloud providers alone control 67%. Applying our estimated share of capex, we forecasted its total data center revenues growing at around 30%.\nSource: Nvidia, Amazon, Microsoft, Google, Alibaba, Statista, Khaveen Investments\nContinuous Performance Excellence Leads to Continuous Pricing Premium\nNvidia’s Gaming segment revenue growth has averaged a stellar 27% in the past 7 years. The main contributor is rising ASPs which averaged 27% whereas shipments growth was flat. Although Nvidia accounts for 81% of the discrete GPU market share and steadily rising, its market share in the overall GPU market has declined slightly against AMD (AMD) and Intel (INTC) who also manufactures integrated GPUs but is planning to develop its Alchemist product while Nvidia only produces discrete chips.\nSource: Statista, JPR, Khaveen Investments\nBased on its stagnant share of the overall GPU market, this implies that demand for the integrated GPU market continues to remain strong. PC shipments grew at -0.8% within the same period. Whereas GPU unit shipments were lower than the PC shipment growth with an average of -2%. One of the attributable factors is the rising GPU costs relative to stagnant PC prices. In the past 5 years, Nvidia’s average ASP as a percentage of PC ASP has risen from 19% to 38%, making it harder for PC makers to cater to the mid-range and entry-level markets which presence remains stable. As costs continue to increase and Intel seeks to capitalize on its refreshed Intel Iris Xe integrated chips, we see Nvidia’s share of overall GPUs to decline and PC shipments CAGR of 3% through 2025.\n\n\n\nGaming PC Share of Market Revenues\n2016\n2020\n\n\nHigh End\n43%\n47%\n\n\nMid-Range\n35%\n34%\n\n\nEntry Level\n22%\n19%\n\n\n\nSource:JPR\nHowever, every year, Nvidia releases a new product lineup offering better performance against the previous models. From GPU Check, we obtained the average benchmark score of all GPU models released for each year to obtain an average score and the average performance increase at 22% per year. Then, the average performance increase is compared to the increase in Nvidia’s ASPs for each year to derive the ASP growth to performance growth factor average of 1.1x. This implies that Nvidia’s GPU performance increase can sustain its ASP growth at a factor of 1.1x. We believe this to be fair, given the company’s solid track record of continuous product development. Its next generation of GPUs with the Ampere Next architecture is expected to be launched next year with the anticipated RTX 4000 series a successor to its current lineup. One of the major significant upgrades anticipated is the switch towards TSMC’s(NYSE:TSM)N5 process allowing even more GPU cores and transistors than the current Ampere GPUs manufactured on TSMC’s N7 and Samsung(OTC:SSNLF)8N process. Even longer-term, the company’s roadmaps indicate continued innovation with the following generation of ‘Ampere Next Next’ expected in 2024 which could utilize TSMC’s N3 process.\nSource: Statista, GPU Checker, Khaveen Investments\nSource: Nvidia, Statista, JPR, GPU Checker\nAll in all, the main driver of gaming revenues is rising prices from continuous product development rather than unit shipments. Nonetheless, the robust demand on GPU shipments seen based on data from JPR indicates a major tailwind in 2021 and forecasted a growth rate of 36% based on the average GPU shipments growth rates of Q1 and Q2. Though we expect growth to normalize, and we based our shipment growth assumption beyond 2021 on a 3.5% CAGR through 2025. Also, accounting for Nvidia’s market share in GPUs, we derived its total unit shipment as well as ASP growth to forecast its total gaming revenue growth.\nSource: Nvidia, Statista, JPR\n\n\n\n\n\n\nAnnualized Nvidia\n2016\n2017\n2018\n2019\n2020\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nShipments('a')\n34.76\n37.67\n33.58\n27.68\n31.95\n43.45\n44.97\n46.55\n48.18\n49.86\n\n\nShipments Growth %\n-1%\n8%\n-11%\n-18%\n15%\n36.0%\n3.5%\n3.5%\n3.5%\n3.5%\n\n\nASPs('b')\n116.8\n146.4\n186.1\n199.4\n242.8\n300.4\n371.5\n459.5\n568.3\n702.8\n\n\nASP Growth %\n45%\n25%\n27%\n7%\n22%\n24%\n24%\n24%\n24%\n24%\n\n\nGaming Revenues ($ mln)('c')\n4,060\n5,513\n6,250\n5,518\n7,759\n13,051\n16,707\n21,386\n27,377\n35,045\n\n\nGaming Revenues Growth %\n44.1%\n35.8%\n13.4%\n-11.7%\n40.6%\n68.2%\n28.0%\n28.0%\n28.0%\n28.0%\n\n\n\n*C = A x B\nSource: Nvidia,Statista,JPR,WCCF Tech\nGrowth From Arm Regardless of Acquisition Approval\nAlready a leading developer of GPUs, Nvidia is using its advantage in AI to produce a range of new products. It is acquiring Arm to leverage its CPU capabilities across key industries as seen with theexpansionof its Certified Systems with BlueField DPU SoCsfeaturing22 bln transistors and incorporating 16 Arm-based CPUs along with a 400 gigabits-per-second networking chip. The combination of both company’scapabilitieswith CPU from Arm and Mellanox networking solution for an advanced chip enhanced by is AI Enterprise software suite in partnership with VMware (VMW) vSphere creating a new market for Nvidia. The company has already received strong support fromcustomersincluding Dell Technologies (DELL), Inspur (OTC:INPRF), Lenovo (OTCPK:LNVGY) and Supermicro integrating its DPUs into their systems. Besides that, cloud service providers such as Baidu are using its DPUs to accelerate workloads. Additionally, it is also planning to enter the data centerCPUmarket with Nvidia Grace against incumbents Intel and AMD.\nThat said, the deal is pending regulatory approval and management isexpectingto obtain clearance by early 2022. The HHI index is a measure of market competitiveness commonlyusedby governmental bodies such as the FTC and the Department of Justice in M&A deals. It serves as guidance whether a deal would go through, or antitrust action would be taken depending on the concentration level.\n\n\n\nPost-Merger HHI\nChange from Premerger HHI\nAntitrust Action\n\n\nHHI < 1000Not concentrated,\nAny\nNo action likely\n\n\n1000 < HHI < 1800Moderately Concentrated,\n>100\nModerately Concentrated, Possible Action\n\n\n1800 < HHIHighly Concentrated,\n>50\nChallenge very Likely\n\n\n\nSource:OpenTextBC\nFor the Arm deal, the HHI calculation would be applied on the PC CPU and server market shares only as only Nvidia, AMD and Intel compete within the GPU markets. In Nvidia’s case, the HHI value for both markets would not change as it represents Arm’s share. For example, the PC CPU market HHI is valued at 4,312 in both pre-and post-acquisition.\nSource: Statista, PCMag\n\n\n\n\n\nSimilarly, the CPU market for servers would derive the same HHI score as the PC CPU market as Nvidia would replace Arm’s share. There is no change to the HHI score of 6,334.\nSource: Nextplatform, Itcandor\n\n\n\n\n\nIf we consider Nvidia’s planned entry to the server CPU market with the launch of Nvidia Grace. Even a small increase in share for Nvidia would lead to a reduction in the HHI value by 188. This highlights Intel’s incredibly high market share. Even if the deal does not go through, the market would still become more competitive. Thus, based on the change in HHI values, Nvidia has a rather unique case for the deal going through. It does not compete with Arm directly PC and server CPU markets, it would just take up Arm’s market share and would not lead to any change to the HHI. In fact, it could make the market even more competitive.\n\n Regulators are \"looking to ensure that their markets are pro-competitive, that this is pro-innovation… and this is good for customers. We can prove that and show that and demonstrate that overwhelmingly, so I have no concerns. -\n Jen-Hsun Huang,CEO of Nvidia\n\n\n\n\nServer CPU Market Share Pre-Acquisition\nShare\ns\ns^2\nServer CPU Post Acquisition\nShare\ns\ns^2\n\n\nIntel\n78%\n78\n6084\nIntel\n77%\n77\n5929\n\n\nAMD\n9%\n9\n81\nAMD\n8%\n8\n64\n\n\nArm\n13%\n13\n169\nArm\n12%\n12\n144\n\n\n-\nNvidia\n3%\n3\n9\n\n\nTotal\n6334\nTotal\n6146\n\n\n\nSource: Nextplatform, Itcandor, Khaveen Investments\nFurthermore, Nvidia’s acquisition comes at a time when M&A activity has risen in the semiconductor market with the average deal value rising by more than 5 times since 2015. Should the deal go through, it would make it the most valuable semicon deal in history at $40 bln. Though, larger deals in the past have broken down due to antitrust. Out of 32 of the largestdealssince 2015, only 3 major deals above $1 bln have fallen apart representing a 9.3% rejection rateincludingKLA (KLAC) and Lam Research (LRCX) merger, Qualcomm (QCOM) acquisition of NXP(NASDAQ:NXPI)and Broadcom’s (AVGO) acquisition of Qualcomm. On the other hand, smaller deals valued at below $1 bln had fewer issues with antitrust. Of the 98 deals, only 4 deals were stopped by regulators which is a 4% rejection rate. This implies that larger deals attract greater scrutiny, which is negative for Nvidia considering it is the highest valued semicon deal.\nSource:Design&Reuse\nAcquisition Approval Risk\nInitially, the expectation of the Arm acquisition deal to go through is by Q1 2022 but subject to regulatory approval from various governmental bodies. There are several arguments that the deal might be delayed or would ultimately fail to get approval. Based on our previousanalysis, we highlighted several headwinds that could arise from regulators across various jurisdictions which include:\n\nTensions between the US and China and to protect Arm China against possible intervention by foreign governments in the future\nThe intention for the UK to protect its local industry and prioritize local jobs, technological expertise and intellectual property\nEuropean authorities seeking to protect companies’ access to advanced technology and preserve sovereignty and independence\n\nWhile management stated its confidence that the Arm deal would go through as planned, these headwinds may pose a risk for the company to meet its deadline. In the Q2 2022 earnings briefing, Nvidia acknowledged the headwinds in obtaining regulatoryapprovalwhich is taking longer than initially thought.\n\n We are working through the regulatory process, although some Arm licensees have expressed concerns and objected to the transaction, and discussions with regulators are taking longer than initially thought\n - Nvidia CFOColette Kress\n\nA breakdown of the agreement could lead to the company incurring fees related to the failure of the acquisition. A couple of months ago, the deal faced several risks of beingdelayedas seen with the European regulator’s reluctance to consider the case until after the summer holidays to gather more information. Nvidia is reported to notify the European Commission in early September as the EU is set tolauncha formal probe into the deal. Also, the US FTC has been seeking to gather more information while Big Techs including Google, Microsoft, and Qualcomm complained about limiting competition. Whereas in China, the company applied with Chinese authorities but appears to be facing tensions with the axed CEO of Arm China which ischallengingthe company for unfair dismissal.\nIt is believed that the agreement allows both companies to extend the deal to Q3 2022 but either party could walk away beyond that. That said, even the deal fails to go through, we believe that the company may be able to realize synergies anyway given its strong product development in the pipeline.\nValuation\nThe company has had an average revenue growth rate of 29.01% in the past 5 years with average gross and net margins of 61.05% and 28.4% respectively. The strength of its earnings and margins is its increasing margin as a result of lower COGS as a percentage of revenues which declined by 3.9% on average in the past 10 years. In comparison to other chipmakers, Nvidia’s gross margins are higher than the industry average of 47.2% and net margins of 13.2% which highlights its superior pricing power which saw ASPs rising by 25% on average in the past 6 years due to its dominance over the discrete GPU market.\nSource: Nvidia, Khaveen Investments\nIn terms of cash flows, the company’s 5-year average FCF margin is 15.14% and has steadily increased as it grows its operating cash flows. Its margins appear to be volatile due to its investments in marketable securities with an inflow of $6.6 bln in 2019 and an outflow of $10 bln in 2020. However, excluding this, it has very high levels of cash generation with an adjusted average FCF margin of 29.1%. Thus, it is not only saving up for larger acquisitions in the future, but it indicates its solid profitability and earning power which would make it highly valuable even when growth slows down.\nSource: Nvidia, Khaveen Investments\nMoreover, the company has a strong balance sheet with a debt-to-equity ratio of 0.7x in 2020 with a high EBITDA interest coverage of 114x in the past 5 years indicating its solid ability to repay its debts. In comparison with other chipmaker competitors, its debt-to-equity is significantly lower than the average of 1.35x which highlights its advantage as a fabless chipmaker with a lean balance sheet.\nWe valued the company based on a P/S valuation due to its superb revenue growth as a rapidly growing company. To determine the appropriate P/S multiple to use, we calculated the average P/S ratio of the chipmakers according to their 5-year CAGR.\n\n\n\nAverage Chipmaker Revenue CAGR (5Yrs)\nPS Ratio\n\n\n35%+\n25.07\n\n\n30%-35%\n22.03\n\n\n25%-30%\n20.00\n\n\n20%-25%\n15.95\n\n\n15% -20%\n11.73\n\n\n10%-15%\n7.52\n\n\n0%-10%\n6.76\n\n\n\nSource: SeekingAlpha, Khaveen Investments\nFirstly, we forecasted its revenues through 2025 without including Arm based on Nvidia growth in gaming and data center as discussed above. The automotive revenues are projected based on a 22% CAGR derived from its $8 bln automotive pipeline assuming it realizes it by 2025. The professional visualization segment is based on the workstation marketCAGRof 9.8% from 2022 through 2025 while the OEM revenues are based on annualized results in 2021.\n\n\n\nNvidia Revenue Forecast Without Arm ($ mln)\n2020\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nGaming\n7,759\n13,051\n16,707\n21,386\n27,377\n35,045\n\n\nProfessional Visualization\n1,053\n1,782\n1,957\n2,148\n2,359\n2,590\n\n\nData Center\n6,696\n9,649\n11,727\n14,410\n17,452\n21,298\n\n\nAutomotive\n536\n654\n798\n973\n1,187\n1,449\n\n\nOEM and Other\n631\n1,472\n1,472\n1,472\n1,472\n1,472\n\n\nTotal\n16,675\n26,608\n32,660\n40,390\n49,847\n61,853\n\n\nGrowth %\n53%\n59.6%\n22.7%\n23.7%\n23.4%\n24.1%\n\n\n\nSource: Nvidia, Khaveen Investments\nIn addition, we previously computed the potentialsynergiesfrom Arm should the deal go through as planned in 2022. Furthermore, Arm’s revenues are also included in the forecast.\n\n\n\nSynergies ($ mln)\n2022F\n2023F\n2024F\n2025F\n\n\nGaming\n742\n1,993\n4,018\n6,327\n\n\nProfessional Visualization\n90\n205\n351\n489\n\n\nData Center\n459\n1,406\n3,230\n5,694\n\n\nAutomotive\n25\n69\n140\n207\n\n\nTotal Synergies\n1,316\n3,673\n7,739\n12,717\n\n\nArm Revenues\n2,145\n2,280\n2,423\n2,576\n\n\n\nSource: Nvidia, Khaveen Investments\nBear Case\nThe bear case valuation assumes a 25% probability of the deal going through should the company face challenges from antitrust regulators. Also, the bear case assumes 80% of synergies and Arm revenues would be realized.\n\n\n\nBear Case\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nNvidia revenues ($ mln)\n26,608\n33,995\n42,265\n52,607\n65,685\n\n\nGrowth %\n59.6%\n27.8%\n24.3%\n24.5%\n24.9%\n\n\nP/S Ratio\n25.07\n20.00\n15.95\n15.95\n15.95\n\n\nValuation ($ mln)\n667,068\n680,022\n674,119\n839,081\n1,047,673\n\n\nNumber of shares outstanding ('mln')\n2,490\n2,490\n2,490\n2,490\n2,490\n\n\nTarget Share Price\n$267.90\n$273.10\n$270.73\n$336.98\n$420.75\n\n\nCurrent Share Price\n$223.96\n$223.96\n$223.96\n$223.96\n$223.96\n\n\nUpside\n19.6%\n21.9%\n20.9%\n50.5%\n87.9%\n\n\n\nSource: Khaveen Investments\nBase Case\nWhereas the base case assumes a 50% probability on the basis of its continued progress to complete the deal but also the possible delays due to regulators requiring more information. Also, we assume 100% of synergies to be realised through the acquisition.\n\n\n\nBase Case\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nNvidia revenues ($ mln)\n26,608\n34,927\n43,937\n55,534\n70,144\n\n\nGrowth %\n59.6%\n31.3%\n25.8%\n26.4%\n26.3%\n\n\nP/S Ratio\n25.07\n22.03\n20.00\n20.00\n20.00\n\n\nValuation ($ mln)\n667,068\n769,432\n878,877\n1,110,874\n1,403,114\n\n\nNumber of shares outstanding ('mln')\n2,490\n2,490\n2,490\n2,490\n2,490\n\n\nTarget Share Price\n$267.90\n$309.01\n$352.96\n$446.13\n$563.50\n\n\nCurrent Share Price\n$223.96\n$223.96\n$223.96\n$223.96\n$223.96\n\n\nUpside\n19.6%\n38.0%\n57.6%\n99.2%\n151.6%\n\n\n\nSource: Khaveen Investments\nBull Case\nFinally, the bull case assumes a 100% probability as we believe the acquisition would not lead to greater market concentration but rather a more competitive one as its case for the deal to go through. Also, we assume 120% of synergies to be realised through the acquisition.\n\n\n\nBull Case\n2021F\n2022F\n2023F\n2024F\n2025F\n\n\nNvidia revenues ($ mln)\n26,608\n36,384\n47,078\n61,558\n79,690\n\n\nGrowth %\n59.6%\n36.7%\n29.4%\n30.8%\n29.5%\n\n\nP/S Ratio\n25.07\n25.07\n20.00\n22.03\n20.00\n\n\nValuation ($ mln)\n667,068\n912,153\n941,714\n1,356,113\n1,594,068\n\n\nNumber of shares outstanding ('mln')\n2,490\n2,490\n2,490\n2,490\n2,490\n\n\nTarget Share Price\n$267.90\n$366.33\n$378.20\n$544.62\n$640.19\n\n\nCurrent Share Price\n$223.96\n$223.96\n$223.96\n$223.96\n$223.96\n\n\nUpside\n19.6%\n63.6%\n68.9%\n143.2%\n185.8%\n\n\n\nSource: Khaveen Investments\nSource: Khaveen Investments\nOur 1-year average price target for the bear, base and bull case is $270.50, $288.45, $317.11 with an upside of 20.8%, 28.8% and 41.6% respectively.\n\n\n\n1-year Average Price Target\nTarget Price\nCurrent Price\nUpside\n\n\nBear Case\n$270.50\n$223.96\n20.8%\n\n\nBase Case\n$288.45\n$223.96\n28.8%\n\n\nBull Case\n$317.11\n$223.96\n41.6%\n\n\n\nSource: Khaveen Investments\nVerdict\nTo sum it up, the company’s growth prospects are supported by its solid innovative capabilities leading to its AI leadership and GPU performance excellence. Highlighting the advancement of its AI strategy around the data center markets, we believe it can capitalize on the booming cloud growth and increasing capex share to benefit its data center revenues. Additionally, despite the flattish shipment growth, we believe it can continue to grow its gaming revenues highlighting its consistent performance improvement with its next-gen Ampere Next based models. As it advances its AI strategy, it is looking to leverage Arm’s incredible CPU IP across its latest product R&D for the data center for future launches. Compared to our previous analysis, we applied a quantitative P/S multiple to reflect its superb growth outlook as one of the highest in the industry. Based on our valuation model using a P/S multiple, its projected revenue growth rate of 59.6% in 2021 driven by strong growth momentum across gaming and data center segments provides an upside opportunity of 28.8% as its stock price has already increased by 71% year to date. Overall, we rate the company as aBuywith a target price of$288.45.","news_type":1},"isVote":1,"tweetType":1,"viewCount":101,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365559783,"gmtCreate":1614763544042,"gmtModify":1703480774202,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Buy buy","listText":"Buy buy","text":"Buy buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/365559783","repostId":"1105186433","repostType":4,"repost":{"id":"1105186433","pubTimestamp":1614762863,"share":"https://www.laohu8.com/m/news/1105186433?lang=&edition=full","pubTime":"2021-03-03 17:14","market":"us","language":"en","title":"2 Growth Stocks to Buy if the Market Crashes","url":"https://stock-news.laohu8.com/highlight/detail?id=1105186433","media":"Motley Fool","summary":"(March 3) Growth stocks have been the place to be over the past year as the stock market recovered f","content":"<p>(March 3)&nbsp;Growth stocks&nbsp;have been the place to be over the past year as the stock market recovered from the crash that marked the beginning of the pandemic in the U.S. Some stocks have delivered multi-hundred-percent returns in the matter of months, despite little or no change in long-term prospects.</p><p>The party won't last forever. Sky-high valuations will eventually fall back to earth, and even the best companies could see their stocks hit hard. Ultra-high prices make buying many growth stocks today risky, but a market crash could create some buying opportunities.</p><p>Two growth stocks that have caught my eye are&nbsp;<b>The Lovesac Company</b>&nbsp;<a href=\"https://laohu8.com/S/LOVE\">Lovesac Co.</a> and&nbsp;<b><a href=\"https://laohu8.com/S/PAYC\">Paycom Software, Inc.</a></b> Both stocks are too expensive for me to touch right now, but I'll be interested if they get dragged down when the market takes a dive.</p><p><b>1. The Lovesac Company</b></p><p>Modular furniture seems like a pretty good idea to me, especially when it comes to large items like couches and sectionals. Bulky furniture that won't easily fit through doors becomes a big pain the moment it needs to be moved.</p><p>A modular sectional, comprised of smaller pieces that are combined into different configurations, solves this problem. The pieces can be easily shipped to the buyer using standard shipping services, and the sectional can be disassembled and moved quickly and easily.</p><p>Lovesac is one company that hasfound success selling modular sectionals. The company's \"sactionals\" aren't cheap, but they've become increasingly popular as the pandemic has dragged on. Lovesac booked 43.5% sales growth in the third quarter of last year, and the company turned a profit thanks to higher sales, a higher gross margin, and some solid operating leverage.</p><p>Lovesac is still a small company, with third-quarter revenue of just $75 million, but the total addressable market is quite large. The market for retail furniture and bedding in the U.S. this year will top $114 billion, according to IBISWorld. Lovesac only addresses a portion of this market, and its premium pricing further limits its market share. But it's not hard to imagine Lovesac eventually topping $1 billion in annual sales.</p><p>Shares of Lovesac have soared over the past year, pushing up the market capitalization to nearly $1 billion. That's a high price to pay for a small furniture company, so it may be wise to wait for a significant pullback before jumping in. There are significant risks, including lower-cost competition from other modular furniture companies and a potential slowdown in the housing market. But the modular furniture trend seems likely to continue, and Lovesac is a leader.</p><p><b>2. Paycom Software</b></p><p>Paycom is a bit of an outlier when it comes tosoftware-as-a-service stocks. The HR and payroll software provider is growing at a double-digit rate, but it's also highly profitable. While many SaaS companies pour cash into sales and marketing to boost growth at the expense of the bottom line, Paycom does not.</p><p>Revenue was up 12.3% in Paycom's third quarter, not a bad result given Paycom's customer base skews small. Paycom's target client size range is 50 to 5,000 employees, and some of those clients have been forced to decrease headcount due to the pandemic. This is hurting Paycom's recurring revenue, and it will continue to do so until headcounts return to pre-pandemic levels.</p><p>Despite the pandemic headwind, Paycom has remained solidly profitable. GAAP net income was $27.5 million in the third quarter, and the company spent just one-third of revenue on sales and marketing. Net income was down from the prior-year period, but that dip is likely just a pandemic-driven bump in the road for Paycom.</p><p>Other SaaS companies spend far more to acquire customers. Telemedicine company<b>Teladoc</b>, for example, poured nearly half of its revenue into sales and marketing in its latest quarter. SaaS giant<b>Salesforce</b>still spends around 45% of revenue on sales and marketing despite its size.</p><p>Paycom hasn't benefited from the pandemic, but the company has remained profitable and continued to grow. The stock is pricey, trading for over 25 times sales and over 150 times earnings. If the market heads lower and drags Paycom down with it, it's a stock to consider.</p><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>2 Growth Stocks to Buy if the Market Crashes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n2 Growth Stocks to Buy if the Market Crashes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-03 17:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/03/02/2-growth-stocks-to-buy-if-the-market-crashes/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(March 3) Growth stocks have been the place to be over the past year as the stock market recovered from the crash that marked the beginning of the pandemic in the U.S. Some stocks have delivered multi...</p>\n\n<a href=\"https://www.fool.com/investing/2021/03/02/2-growth-stocks-to-buy-if-the-market-crashes/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PAYC":"Paycom Software, Inc.","LOVE":"Lovesac Co."},"source_url":"https://www.fool.com/investing/2021/03/02/2-growth-stocks-to-buy-if-the-market-crashes/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105186433","content_text":"(March 3) Growth stocks have been the place to be over the past year as the stock market recovered from the crash that marked the beginning of the pandemic in the U.S. Some stocks have delivered multi-hundred-percent returns in the matter of months, despite little or no change in long-term prospects.The party won't last forever. Sky-high valuations will eventually fall back to earth, and even the best companies could see their stocks hit hard. Ultra-high prices make buying many growth stocks today risky, but a market crash could create some buying opportunities.Two growth stocks that have caught my eye are The Lovesac Company Lovesac Co. and Paycom Software, Inc. Both stocks are too expensive for me to touch right now, but I'll be interested if they get dragged down when the market takes a dive.1. The Lovesac CompanyModular furniture seems like a pretty good idea to me, especially when it comes to large items like couches and sectionals. Bulky furniture that won't easily fit through doors becomes a big pain the moment it needs to be moved.A modular sectional, comprised of smaller pieces that are combined into different configurations, solves this problem. The pieces can be easily shipped to the buyer using standard shipping services, and the sectional can be disassembled and moved quickly and easily.Lovesac is one company that hasfound success selling modular sectionals. The company's \"sactionals\" aren't cheap, but they've become increasingly popular as the pandemic has dragged on. Lovesac booked 43.5% sales growth in the third quarter of last year, and the company turned a profit thanks to higher sales, a higher gross margin, and some solid operating leverage.Lovesac is still a small company, with third-quarter revenue of just $75 million, but the total addressable market is quite large. The market for retail furniture and bedding in the U.S. this year will top $114 billion, according to IBISWorld. Lovesac only addresses a portion of this market, and its premium pricing further limits its market share. But it's not hard to imagine Lovesac eventually topping $1 billion in annual sales.Shares of Lovesac have soared over the past year, pushing up the market capitalization to nearly $1 billion. That's a high price to pay for a small furniture company, so it may be wise to wait for a significant pullback before jumping in. There are significant risks, including lower-cost competition from other modular furniture companies and a potential slowdown in the housing market. But the modular furniture trend seems likely to continue, and Lovesac is a leader.2. Paycom SoftwarePaycom is a bit of an outlier when it comes tosoftware-as-a-service stocks. The HR and payroll software provider is growing at a double-digit rate, but it's also highly profitable. While many SaaS companies pour cash into sales and marketing to boost growth at the expense of the bottom line, Paycom does not.Revenue was up 12.3% in Paycom's third quarter, not a bad result given Paycom's customer base skews small. Paycom's target client size range is 50 to 5,000 employees, and some of those clients have been forced to decrease headcount due to the pandemic. This is hurting Paycom's recurring revenue, and it will continue to do so until headcounts return to pre-pandemic levels.Despite the pandemic headwind, Paycom has remained solidly profitable. GAAP net income was $27.5 million in the third quarter, and the company spent just one-third of revenue on sales and marketing. Net income was down from the prior-year period, but that dip is likely just a pandemic-driven bump in the road for Paycom.Other SaaS companies spend far more to acquire customers. Telemedicine companyTeladoc, for example, poured nearly half of its revenue into sales and marketing in its latest quarter. SaaS giantSalesforcestill spends around 45% of revenue on sales and marketing despite its size.Paycom hasn't benefited from the pandemic, but the company has remained profitable and continued to grow. The stock is pricey, trading for over 25 times sales and over 150 times earnings. If the market heads lower and drags Paycom down with it, it's a stock to consider.","news_type":1},"isVote":1,"tweetType":1,"viewCount":28,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362006526,"gmtCreate":1614569617565,"gmtModify":1703478303266,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Buy buy buy all","listText":"Buy buy buy all","text":"Buy buy buy all","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/362006526","repostId":"2114865945","repostType":4,"isVote":1,"tweetType":1,"viewCount":9,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362529808,"gmtCreate":1614650559204,"gmtModify":1703479342418,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/362529808","repostId":"2116550361","repostType":4,"repost":{"id":"2116550361","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1614639720,"share":"https://www.laohu8.com/m/news/2116550361?lang=&edition=full","pubTime":"2021-03-02 07:02","market":"us","language":"en","title":"Nio's sales top $2 billion in 'transformational' year","url":"https://stock-news.laohu8.com/highlight/detail?id=2116550361","media":"Dow Jones","summary":"Nio guides for first-quarter sales of up to 25,000 vehiclesNio Inc.'s American depositary receipts f","content":"<p>Nio guides for first-quarter sales of up to 25,000 vehicles</p><p>Nio Inc.'s American depositary receipts fell more than 3% in the extended session Monday after the China-based electric-car maker reported mixed fourth-quarter results and said revenue for a \"transformational\" 2020 topped $2 billion.</p><p>Nio <a href=\"https://laohu8.com/S/NIO\">$(NIO)$</a> said it lost RMB1.39 billion ($212.8 million) in the quarter, or 16 cents per ADR, compared with a loss of RMB2.8 billion in the year-ago period. Excluding <a href=\"https://laohu8.com/S/AONE\">one</a>-time items, Nio lost $203.6 million, or 14 cents a share.</p><p>Fourth-quarter revenue jumped 133% to $1.02 billion, the company said. Revenue for the full-year 2020 rose 108% to $2.49 billion, Nio said.</p><p>Analysts polled by FactSet had expected a quarterly loss of 6 cents per ADR on sales of $1.025 billion.</p><p>Nio said it delivered 17,353 vehicles in the quarter, including 7,574 of its mid-size SUV, the ES6. That compares with 8,224 vehicles in the fourth quarter of 2019.</p><p>For the full-year 2020, it delivered 43,728 vehicles, from 20,565 vehicles in 2019.</p><p>Fourth-quarter deliveries were a record for the company and concluded \"a transformational 2020,\" founder and Chief Executive William Li said in a statement. That momentum has continued into 2021, he said.</p><p>The company guided for the delivery of about 20,000 to 20,500 vehicles in the first quarter, which would be an increase between 15% and 18% from the fourth quarter's deliveries. It guided for revenue between $1.13 billion and $1.16 billion for the quarter.</p><p>Shares of Nio ended the regular trading day up nearly 9%. For the past 12 months, the stock has gained 1,100%, compared with 32% for the S&amp;P 500 index .</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>Nio's sales top $2 billion in 'transformational' year</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNio's sales top $2 billion in 'transformational' year\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-03-02 07:02</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Nio guides for first-quarter sales of up to 25,000 vehicles</p><p>Nio Inc.'s American depositary receipts fell more than 3% in the extended session Monday after the China-based electric-car maker reported mixed fourth-quarter results and said revenue for a \"transformational\" 2020 topped $2 billion.</p><p>Nio <a href=\"https://laohu8.com/S/NIO\">$(NIO)$</a> said it lost RMB1.39 billion ($212.8 million) in the quarter, or 16 cents per ADR, compared with a loss of RMB2.8 billion in the year-ago period. Excluding <a href=\"https://laohu8.com/S/AONE\">one</a>-time items, Nio lost $203.6 million, or 14 cents a share.</p><p>Fourth-quarter revenue jumped 133% to $1.02 billion, the company said. Revenue for the full-year 2020 rose 108% to $2.49 billion, Nio said.</p><p>Analysts polled by FactSet had expected a quarterly loss of 6 cents per ADR on sales of $1.025 billion.</p><p>Nio said it delivered 17,353 vehicles in the quarter, including 7,574 of its mid-size SUV, the ES6. That compares with 8,224 vehicles in the fourth quarter of 2019.</p><p>For the full-year 2020, it delivered 43,728 vehicles, from 20,565 vehicles in 2019.</p><p>Fourth-quarter deliveries were a record for the company and concluded \"a transformational 2020,\" founder and Chief Executive William Li said in a statement. That momentum has continued into 2021, he said.</p><p>The company guided for the delivery of about 20,000 to 20,500 vehicles in the first quarter, which would be an increase between 15% and 18% from the fourth quarter's deliveries. It guided for revenue between $1.13 billion and $1.16 billion for the quarter.</p><p>Shares of Nio ended the regular trading day up nearly 9%. For the past 12 months, the stock has gained 1,100%, compared with 32% for the S&amp;P 500 index .</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2116550361","content_text":"Nio guides for first-quarter sales of up to 25,000 vehiclesNio Inc.'s American depositary receipts fell more than 3% in the extended session Monday after the China-based electric-car maker reported mixed fourth-quarter results and said revenue for a \"transformational\" 2020 topped $2 billion.Nio $(NIO)$ said it lost RMB1.39 billion ($212.8 million) in the quarter, or 16 cents per ADR, compared with a loss of RMB2.8 billion in the year-ago period. Excluding one-time items, Nio lost $203.6 million, or 14 cents a share.Fourth-quarter revenue jumped 133% to $1.02 billion, the company said. Revenue for the full-year 2020 rose 108% to $2.49 billion, Nio said.Analysts polled by FactSet had expected a quarterly loss of 6 cents per ADR on sales of $1.025 billion.Nio said it delivered 17,353 vehicles in the quarter, including 7,574 of its mid-size SUV, the ES6. That compares with 8,224 vehicles in the fourth quarter of 2019.For the full-year 2020, it delivered 43,728 vehicles, from 20,565 vehicles in 2019.Fourth-quarter deliveries were a record for the company and concluded \"a transformational 2020,\" founder and Chief Executive William Li said in a statement. That momentum has continued into 2021, he said.The company guided for the delivery of about 20,000 to 20,500 vehicles in the first quarter, which would be an increase between 15% and 18% from the fourth quarter's deliveries. It guided for revenue between $1.13 billion and $1.16 billion for the quarter.Shares of Nio ended the regular trading day up nearly 9%. For the past 12 months, the stock has gained 1,100%, compared with 32% for the S&P 500 index .","news_type":1},"isVote":1,"tweetType":1,"viewCount":21,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366222111,"gmtCreate":1614492957233,"gmtModify":1703477837226,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/366222111","repostId":"1125238969","repostType":4,"repost":{"id":"1125238969","pubTimestamp":1614311542,"share":"https://www.laohu8.com/m/news/1125238969?lang=&edition=full","pubTime":"2021-02-26 11:52","market":"fut","language":"en","title":"Bitcoin May Be Weighing on Tech Stocks Again","url":"https://stock-news.laohu8.com/highlight/detail?id=1125238969","media":"Barrons","summary":"“Blame it on Bitcoin” may be a new catchphrase if the tech sector keeps sinking.Semiconductor makerN","content":"<p>“Blame it on Bitcoin” may be a new catchphrase if the tech sector keeps sinking.</p><p>Semiconductor makerNvidia(ticker: NVDA) was down 8.2%, at $532.3, in recent trading amid a broader rout in the tech-heavyNasdaq Compositeindex. The chip stock stands out because the company issueda strong earnings reportWednesday, including a lift from products related to Bitcoin and other cryptocurrencies.</p><p>Payments app&nbsp;Square(SQ), meanwhile, also continued its slide, down 4.3%, at $227.11. The company’srelatively strong&nbsp;earnings report on Tuesday included investments and operational gains from Bitcoin, and the firm said it plans to “double down” on the digital coin. That may be weighing on the stock, which is down nearly 20% in the last few sessions as&nbsp;Bitcoin prices have slumped.</p><p>Tech is under pressure for other reasons: Steep valuations have made the sector vulnerable to weakness in company forecasts. Rising bond yields pose a threat by pressuring the present value of future cash flows. Big Tech is also a crowded trade that could be losing favor as investors look for more-cyclical exposure or sectors with lower valuations.</p><p>But the trading patterns in Nvidia, Square,Tesla(TSLA), and other stocks may also be a sign of Bitcoin’s growing influence. Companies are plowing capital into Bitcoin directly and related products and services, expanding exposure at a time when prices have skyrocketed more than 350% in the past year. Despite its recent slide, Bitcoin is still up 67% this year.</p><p>Crypto is&nbsp;certainly gathering momentum.Mastercard&nbsp;(MA) said this month that it would start supporting cryptocurrencies directly on its network, noting that many consumers are already using cards to buy crypto assets. But it would still be a stretch to turn Bitcoin into a viable currency for everyday purchases, a&nbsp;Mastercard&nbsp;executive noted at a conference on Thursday.</p><p>“Bitcoin doesn’t behave like a payment instrument,” said Mastercard Executive Vice Chair Ann Cairns, according to a&nbsp;report&nbsp;on MarketWatch. “It’s too volatile and it takes too long to transact.”</p><p>Whether it becomes an asset class or payment instrument, the rise (and potential fall) of Bitcoin is ripping through corners of tech, banking, and other sectors.</p><p>Nvidia, for instance, issued animpressiveearnings report, as<i>Barron’s</i>noted. But it’s also becoming more of a crypto play.</p><p>The company said crypto may have had a $100 million to $300 million positive impact in the quarter. The firm is launching a new line of cryptocurrency mining processors, or CMPs, for professional crypto-mining.</p><p>“Cryptocurrencies have recently started to be accepted by companies and financial institutions and show increased signs of staying power,” Nvidia told investors. Its new line of CMPs will give the firm more visibility into the contribution of crypto to revenue, the company added.</p><p>Some analysts are questioning the sustainability of the trend.Piper Sandler’s Harsh Kumarreiterated an Overweight rating on the shares, for instance, but cautioned about Nvidia’s growing exposure to crypto.</p><p>“With cryptocurrency entering the picture again, the delineation between crypto and core gaming upside is blurred,” he writes. “We feel investors may question the sustainability of these trends, particularly given the cryptocurrency issues in the past.”</p><p>Payments app Square, as noted above, is also now squarely in the Bitcoin debate. While core business trends are looking healthy, investors may be concerned that Square is expanding into crypto as prices peak. The company purchased $170 million of Bitcoin in the quarter, on top of $50 million previously purchased, and is marketing its Cash App as a mechanism to buy, store, and eventually transact with the cryptocurrency.</p><p>Wall Street has mixed views on that idea. Competitors like&nbsp;PayPal Holdings(PYPL) are also plowing into Bitcoin, along with other “neobbank” competitors, notes&nbsp;JMP analyst David Scharf. That raises questions about the long-term “stickiness” of Cash App and whether its growth can be sustained.</p><p>Indeed, Cash App now accounts for about half of Square’s gross profits, and the company is counting on Bitcoin to fuel demand. That is making Square stock a kind of derivative on Bitcoin; shares have been increasingly correlated to the price of Bitcoin over the past year, and the relationship may only be getting tighter.</p><p>Square stock also may not be fully accounting for the volatility of Bitcoin, which has had several boom-bust cycles. At around 100 estimated 2022 Ebitda (earnings before interest, taxes, depreciation, and amortization), the stock looks fully valued, according to Scharf, who maintained a Market Perform rating.</p><p>Guggenheim’s Jeff Cantwell&nbsp;took the opposite side of that debate. He upgraded Square stock to a Buy on Thursday, partly on an upbeat outlook for Bitcoin. “We think Bitcoin is on a long-term trajectory higher,” he writes, adding that it should drive an increase in Cash App usage and other metrics.</p><p>He doesn’t see Bitcoin becoming a currency used for mainstream purchases anytime soon. But that’s beside the point, he notes, since Bitcoin is turning into “digital gold”—a store of value and an asset class. There are 50 million digital Bitcoin wallets globally, a large and growing user base, he notes. Square is doing its part to take Bitcoin mainstream.</p><p>Cantwell sees Square stock hitting $288. Bitcoin may have to do its part for the stock to get there, too.</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>Bitcoin May Be Weighing on Tech Stocks Again</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\">\nBitcoin May Be Weighing on Tech Stocks Again\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-26 11:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/bitcoin-may-be-weighing-on-tech-stocks-again-investors-should-be-wary-51614284904?mod=hp_LEAD_2_B_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>“Blame it on Bitcoin” may be a new catchphrase if the tech sector keeps sinking.Semiconductor makerNvidia(ticker: NVDA) was down 8.2%, at $532.3, in recent trading amid a broader rout in the tech-...</p>\n\n<a href=\"https://www.barrons.com/articles/bitcoin-may-be-weighing-on-tech-stocks-again-investors-should-be-wary-51614284904?mod=hp_LEAD_2_B_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达","SQ":"Block","TSLA":"特斯拉",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","GBTC":"Grayscale Bitcoin Trust",".SPX":"S&P 500 Index","PYPL":"PayPal"},"source_url":"https://www.barrons.com/articles/bitcoin-may-be-weighing-on-tech-stocks-again-investors-should-be-wary-51614284904?mod=hp_LEAD_2_B_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125238969","content_text":"“Blame it on Bitcoin” may be a new catchphrase if the tech sector keeps sinking.Semiconductor makerNvidia(ticker: NVDA) was down 8.2%, at $532.3, in recent trading amid a broader rout in the tech-heavyNasdaq Compositeindex. The chip stock stands out because the company issueda strong earnings reportWednesday, including a lift from products related to Bitcoin and other cryptocurrencies.Payments app Square(SQ), meanwhile, also continued its slide, down 4.3%, at $227.11. The company’srelatively strong earnings report on Tuesday included investments and operational gains from Bitcoin, and the firm said it plans to “double down” on the digital coin. That may be weighing on the stock, which is down nearly 20% in the last few sessions as Bitcoin prices have slumped.Tech is under pressure for other reasons: Steep valuations have made the sector vulnerable to weakness in company forecasts. Rising bond yields pose a threat by pressuring the present value of future cash flows. Big Tech is also a crowded trade that could be losing favor as investors look for more-cyclical exposure or sectors with lower valuations.But the trading patterns in Nvidia, Square,Tesla(TSLA), and other stocks may also be a sign of Bitcoin’s growing influence. Companies are plowing capital into Bitcoin directly and related products and services, expanding exposure at a time when prices have skyrocketed more than 350% in the past year. Despite its recent slide, Bitcoin is still up 67% this year.Crypto is certainly gathering momentum.Mastercard (MA) said this month that it would start supporting cryptocurrencies directly on its network, noting that many consumers are already using cards to buy crypto assets. But it would still be a stretch to turn Bitcoin into a viable currency for everyday purchases, a Mastercard executive noted at a conference on Thursday.“Bitcoin doesn’t behave like a payment instrument,” said Mastercard Executive Vice Chair Ann Cairns, according to a report on MarketWatch. “It’s too volatile and it takes too long to transact.”Whether it becomes an asset class or payment instrument, the rise (and potential fall) of Bitcoin is ripping through corners of tech, banking, and other sectors.Nvidia, for instance, issued animpressiveearnings report, asBarron’snoted. But it’s also becoming more of a crypto play.The company said crypto may have had a $100 million to $300 million positive impact in the quarter. The firm is launching a new line of cryptocurrency mining processors, or CMPs, for professional crypto-mining.“Cryptocurrencies have recently started to be accepted by companies and financial institutions and show increased signs of staying power,” Nvidia told investors. Its new line of CMPs will give the firm more visibility into the contribution of crypto to revenue, the company added.Some analysts are questioning the sustainability of the trend.Piper Sandler’s Harsh Kumarreiterated an Overweight rating on the shares, for instance, but cautioned about Nvidia’s growing exposure to crypto.“With cryptocurrency entering the picture again, the delineation between crypto and core gaming upside is blurred,” he writes. “We feel investors may question the sustainability of these trends, particularly given the cryptocurrency issues in the past.”Payments app Square, as noted above, is also now squarely in the Bitcoin debate. While core business trends are looking healthy, investors may be concerned that Square is expanding into crypto as prices peak. The company purchased $170 million of Bitcoin in the quarter, on top of $50 million previously purchased, and is marketing its Cash App as a mechanism to buy, store, and eventually transact with the cryptocurrency.Wall Street has mixed views on that idea. Competitors like PayPal Holdings(PYPL) are also plowing into Bitcoin, along with other “neobbank” competitors, notes JMP analyst David Scharf. That raises questions about the long-term “stickiness” of Cash App and whether its growth can be sustained.Indeed, Cash App now accounts for about half of Square’s gross profits, and the company is counting on Bitcoin to fuel demand. That is making Square stock a kind of derivative on Bitcoin; shares have been increasingly correlated to the price of Bitcoin over the past year, and the relationship may only be getting tighter.Square stock also may not be fully accounting for the volatility of Bitcoin, which has had several boom-bust cycles. At around 100 estimated 2022 Ebitda (earnings before interest, taxes, depreciation, and amortization), the stock looks fully valued, according to Scharf, who maintained a Market Perform rating.Guggenheim’s Jeff Cantwell took the opposite side of that debate. He upgraded Square stock to a Buy on Thursday, partly on an upbeat outlook for Bitcoin. “We think Bitcoin is on a long-term trajectory higher,” he writes, adding that it should drive an increase in Cash App usage and other metrics.He doesn’t see Bitcoin becoming a currency used for mainstream purchases anytime soon. But that’s beside the point, he notes, since Bitcoin is turning into “digital gold”—a store of value and an asset class. There are 50 million digital Bitcoin wallets globally, a large and growing user base, he notes. Square is doing its part to take Bitcoin mainstream.Cantwell sees Square stock hitting $288. Bitcoin may have to do its part for the stock to get there, too.","news_type":1},"isVote":1,"tweetType":1,"viewCount":67,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":132934182,"gmtCreate":1622062330446,"gmtModify":1631891083309,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/132934182","repostId":"2138143109","repostType":4,"repost":{"id":"2138143109","pubTimestamp":1622042760,"share":"https://www.laohu8.com/m/news/2138143109?lang=&edition=full","pubTime":"2021-05-26 23:26","market":"us","language":"en","title":"Why American Eagle Outfitters Is Jumping 5.5% Today","url":"https://stock-news.laohu8.com/highlight/detail?id=2138143109","media":"Motley Fool","summary":"The apparel retailer has strong tailwinds behind it.","content":"<h2>What happened</h2><p>Shares of <b>American Eagle Outfitters</b> (NYSE:AEO) were up 5.5% in morning trading Wednesday ahead of the apparel retailer reporting first-quarter earnings after the market closes.</p><h2>So what</h2><p>Many retailers are posting strong quarterly financials as they go up against comparatively weak comparable sales from the year-ago period, which was partially marred by the coronavirus pandemic outbreak. Both <b>Abercrombie &amp; Fitch</b> and <b><a href=\"https://laohu8.com/S/URBN\">Urban Outfitters</a></b> just handily beat estimates.</p><p>Investors might view American Eagle as prepared to beat analyst expectations on the strength of its Aerie loungewear brand, which has been a strong performer throughout. Especially as working from home became an imperative for many -- and still is -- comfortable clothes that met various fashion needs became de rigueur for consumers.</p><p>Analysts expect Aerie to become a $2 billion to $3 billion brand, and it already accounts for 40% American Eagle's sales.</p><h2>Now what</h2><p>Wall Street expects American Eagle to post revenue of $1.02 billion, up 85% over the year-ago quarter, generating earnings of $0.47 per share compared to an adjusted loss of $0.84 per share (analyst estimates typically don't include <a href=\"https://laohu8.com/S/AONE\">one</a>-time items that companies end up adjusting their results for).</p><p>It already looks as though American Eagle is expected to post robust results, so the market will end up reacting tomorrow to just how much the retailer beats (or misses) those forecasts.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why American Eagle Outfitters Is Jumping 5.5% Today</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy American Eagle Outfitters Is Jumping 5.5% Today\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-26 23:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/26/why-american-eagle-outfitters-is-jumping-55-today/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What happenedShares of American Eagle Outfitters (NYSE:AEO) were up 5.5% in morning trading Wednesday ahead of the apparel retailer reporting first-quarter earnings after the market closes.So whatMany...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/26/why-american-eagle-outfitters-is-jumping-55-today/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/26/why-american-eagle-outfitters-is-jumping-55-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138143109","content_text":"What happenedShares of American Eagle Outfitters (NYSE:AEO) were up 5.5% in morning trading Wednesday ahead of the apparel retailer reporting first-quarter earnings after the market closes.So whatMany retailers are posting strong quarterly financials as they go up against comparatively weak comparable sales from the year-ago period, which was partially marred by the coronavirus pandemic outbreak. Both Abercrombie & Fitch and Urban Outfitters just handily beat estimates.Investors might view American Eagle as prepared to beat analyst expectations on the strength of its Aerie loungewear brand, which has been a strong performer throughout. Especially as working from home became an imperative for many -- and still is -- comfortable clothes that met various fashion needs became de rigueur for consumers.Analysts expect Aerie to become a $2 billion to $3 billion brand, and it already accounts for 40% American Eagle's sales.Now whatWall Street expects American Eagle to post revenue of $1.02 billion, up 85% over the year-ago quarter, generating earnings of $0.47 per share compared to an adjusted loss of $0.84 per share (analyst estimates typically don't include one-time items that companies end up adjusting their results for).It already looks as though American Eagle is expected to post robust results, so the market will end up reacting tomorrow to just how much the retailer beats (or misses) those forecasts.","news_type":1},"isVote":1,"tweetType":1,"viewCount":261,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366400937,"gmtCreate":1614526274129,"gmtModify":1703478022972,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Please comment","listText":"Please comment","text":"Please comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/366400937","repostId":"1181374212","repostType":4,"repost":{"id":"1181374212","pubTimestamp":1614335737,"share":"https://www.laohu8.com/m/news/1181374212?lang=&edition=full","pubTime":"2021-02-26 18:35","market":"hk","language":"en","title":"Trading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary","url":"https://stock-news.laohu8.com/highlight/detail?id=1181374212","media":"cnbc","summary":"Hong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.Chan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.The move “will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” said Chan.Chan said in his budget speech on Wednesday","content":"<div>\n<p>KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary</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\">\nTrading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-26 18:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSCEI":"国企指数","HSCCI":"红筹指数","HSI":"恒生指数","00388":"香港交易所"},"source_url":"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1181374212","content_text":"KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.\nThe move “will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” said Chan.\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.The announcement sparked a sell-off in shares of the operator of the city’s stock exchange, and the broader Hong Kong market.\n“The Hong Kong market has been doing very well, very active, the volume has gone up quite a bit,” Chan told CNBC’s Emily Tan.\n“So, perhaps this is the time for us to increase a little bit on the stamp duty which will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” he added.\nThe financial secretary said Hong Kong authorities have in recent years launched different initiatives to enhance the competitiveness of the city’s stock market. That includes allowing listings of dual-class shares and attracting U.S.-listed Chinese companies to seek a secondary listing in Hong Kong, he said.\nHong Kong in 2020 was one of the top markets for listings globally as Chinese firms such as e-commerce giant JD.com and gaming company NetEase raised funds through secondary listings.\nIn total, the city’s stock exchange saw 132 initial public offerings worth $32.1 billion, and 199 further offerings worth $62.9 billion last year, according to data compiled by consultancy PwC.\nWith such “robust” capital markets activity, raising the trading stamp duty may offer Hong Kong “a quick solution” to increase its tax revenue in the short term, said Stanley Ho, a partner for corporate tax advisory at consultancy KPMG China.\n“However, it is also important for Hong Kong’s capital markets to stay competitive with global financial markets, many of which are trending towards reducing or removing such duties,” Ho said in a statement after Chan’s budget speech.\nChan said he remains confident of Hong Kong’s prospects as an international financial center.\nHe explained that the government is working on promoting Hong Kong as a center for sustainable and green finance, developing further the city’s fixed income markets and encouraging more activity in the asset and wealth management sectors.\nOn the stock market sell-off after his announcement of the trading tax hike, Chan said Hong Kong wasn’t the only one experiencing a “downward adjustment” following a previous run-up.\n“So, I would not be bothered by temporary fluctuations in the market. What we believe is we continue to work hard to enhance the offering of our market to further enhance the competitiveness and attractiveness of the Hong Kong market,” he said.\n“We will continue to attract inflow of international capital.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":9,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":864817507,"gmtCreate":1633087850157,"gmtModify":1633087850340,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/864817507","repostId":"1161592541","repostType":4,"repost":{"id":"1161592541","pubTimestamp":1633086657,"share":"https://www.laohu8.com/m/news/1161592541?lang=&edition=full","pubTime":"2021-10-01 19:10","market":"us","language":"en","title":"A Bad Month for Stocks Ends With Few Signs the Drama Is Over","url":"https://stock-news.laohu8.com/highlight/detail?id=1161592541","media":"Bloomgberg","summary":"(Bloomberg) -- The end of the September in the stock market was a time of volatility, accelerated he","content":"<p>(Bloomberg) -- The end of the September in the stock market was a time of volatility, accelerated hedging and economic unease. It did not, however, spur an extreme reordering in trader sentiment, and to some of Wall Street’s old guard that’s worrisome.</p>\n<p>While the S&amp;P 500 posted its worst monthly performance since March 2020, there was no sign of the kind of cathartic surrender that contrarians look for in trying to call bottoms. Amid another early-week selloff, hedge funds tracked by Goldman Sachs Group Inc. were only “modest” sellers. On Tuesday, when the benchmark suffered its biggest drop in four months, outflows from equity exchange-traded funds trickled to only a fraction of what had been seen the week before.</p>\n<p>At the same time, the hand-over-fist buying sprees that marked exits from past dips were also not in evidence. Retail traders backed away from their favorite speculative instrument. The S&amp;P 500 approached 4,385 twice on Thursday before turning lower. The failure came one day after the level -- which acted as ceiling in July and then served as support in August --thwarted the index’s four breakout attempts.</p>\n<p>“Until we see a washout or impulsive buying, a move to the 200 DMA on the S&amp;P 500 can’t be ruled out,” said John Kolovos, chief technical strategist at Macro Risk Advisors. The index’s 200-day moving average sat near 4,135, a 4% decline from its last close.</p>\n<p>Stocks have tumbled as surging bond yields prompted investors to flee richly valued technology shares. Adding to the list of worries are concern about the government debt ceiling, rising political static around the Federal Reserve and supply chain disruptions.</p>\n<p>But panic was absent during the worst day of the carnage. On Tuesday, when the S&amp;P 500 tumbled 2%, short sales from hedge funds were flat, as opposed to Sept. 20, when a smaller decline triggered a 5.5% jump in bearish positions, client data compiled by Goldman show. And exchange-traded fund outflows that day reached $1.7 billion, trailing the $12 billion withdrawals seen from Sept. 20, according to Bloomberg data.</p>\n<p>Underpinning Tuesday’s selloff were systematic traders who allocate assets based on volatility, according to Nomura Securities strategist Charlie McElligott. He estimated that volatility control funds and targeted risk strategies likely slashed equity holdings by $35 billion on that day alone.</p>\n<p>Broadly, fear has yet to reach levels that flag a buying opportunity. Nicholas Colas, co-founder of DataTrek Research, says one gauge he monitors is the Cboe Volatility Index, or VIX. The gauge peaked at 25.7 this month, short of the reading of 36 that typically signals what he calls a “tradable low.”</p>\n<p>“We’re waiting for better levels before we get tactically bullish again,” Colas said. “We recommend long term investors steel themselves for a difficult few weeks to come.”</p>\n<p>The usual dip buyers were not enthusiastic either. Retail investors, one of the bull market’s biggest allies, has curbed their buying of bullish options while raising wagers against stocks.</p>\n<p>In fact, one trader just put out a massive hedging position via options to protect a portfolio of stocks in the event that the S&amp;P 500’s losses snowball toward 20% during the fourth quarter.</p>\n<p>To Matt Maley, chief market strategist for Miller Tabak + Co., the market is likely to follow the pattern from a year ago, when the jump in Treasury yields sent the S&amp;P 500 toward a 10% correction. And with the Fed turning more hawkish on monetary policy, investors had better get ready for bigger turmoil, he said.</p>\n<p>“We believe the correction will likely be a deeper one,” Maley said. “This year, the Fed is on the cusp of tapering back on their massive QE program and starting to talk about raising rates sooner than the market has been pricing in. Last year at this time, the QE program was running at full tilt.”</p>","source":"yahoofinance_sg","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>A Bad Month for Stocks Ends With Few Signs the Drama Is Over</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\">\nA Bad Month for Stocks Ends With Few Signs the Drama Is Over\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-01 19:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bad-month-stocks-ends-few-202428322.html><strong>Bloomgberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- The end of the September in the stock market was a time of volatility, accelerated hedging and economic unease. It did not, however, spur an extreme reordering in trader sentiment, and ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bad-month-stocks-ends-few-202428322.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/bad-month-stocks-ends-few-202428322.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161592541","content_text":"(Bloomberg) -- The end of the September in the stock market was a time of volatility, accelerated hedging and economic unease. It did not, however, spur an extreme reordering in trader sentiment, and to some of Wall Street’s old guard that’s worrisome.\nWhile the S&P 500 posted its worst monthly performance since March 2020, there was no sign of the kind of cathartic surrender that contrarians look for in trying to call bottoms. Amid another early-week selloff, hedge funds tracked by Goldman Sachs Group Inc. were only “modest” sellers. On Tuesday, when the benchmark suffered its biggest drop in four months, outflows from equity exchange-traded funds trickled to only a fraction of what had been seen the week before.\nAt the same time, the hand-over-fist buying sprees that marked exits from past dips were also not in evidence. Retail traders backed away from their favorite speculative instrument. The S&P 500 approached 4,385 twice on Thursday before turning lower. The failure came one day after the level -- which acted as ceiling in July and then served as support in August --thwarted the index’s four breakout attempts.\n“Until we see a washout or impulsive buying, a move to the 200 DMA on the S&P 500 can’t be ruled out,” said John Kolovos, chief technical strategist at Macro Risk Advisors. The index’s 200-day moving average sat near 4,135, a 4% decline from its last close.\nStocks have tumbled as surging bond yields prompted investors to flee richly valued technology shares. Adding to the list of worries are concern about the government debt ceiling, rising political static around the Federal Reserve and supply chain disruptions.\nBut panic was absent during the worst day of the carnage. On Tuesday, when the S&P 500 tumbled 2%, short sales from hedge funds were flat, as opposed to Sept. 20, when a smaller decline triggered a 5.5% jump in bearish positions, client data compiled by Goldman show. And exchange-traded fund outflows that day reached $1.7 billion, trailing the $12 billion withdrawals seen from Sept. 20, according to Bloomberg data.\nUnderpinning Tuesday’s selloff were systematic traders who allocate assets based on volatility, according to Nomura Securities strategist Charlie McElligott. He estimated that volatility control funds and targeted risk strategies likely slashed equity holdings by $35 billion on that day alone.\nBroadly, fear has yet to reach levels that flag a buying opportunity. Nicholas Colas, co-founder of DataTrek Research, says one gauge he monitors is the Cboe Volatility Index, or VIX. The gauge peaked at 25.7 this month, short of the reading of 36 that typically signals what he calls a “tradable low.”\n“We’re waiting for better levels before we get tactically bullish again,” Colas said. “We recommend long term investors steel themselves for a difficult few weeks to come.”\nThe usual dip buyers were not enthusiastic either. Retail investors, one of the bull market’s biggest allies, has curbed their buying of bullish options while raising wagers against stocks.\nIn fact, one trader just put out a massive hedging position via options to protect a portfolio of stocks in the event that the S&P 500’s losses snowball toward 20% during the fourth quarter.\nTo Matt Maley, chief market strategist for Miller Tabak + Co., the market is likely to follow the pattern from a year ago, when the jump in Treasury yields sent the S&P 500 toward a 10% correction. And with the Fed turning more hawkish on monetary policy, investors had better get ready for bigger turmoil, he said.\n“We believe the correction will likely be a deeper one,” Maley said. “This year, the Fed is on the cusp of tapering back on their massive QE program and starting to talk about raising rates sooner than the market has been pricing in. Last year at this time, the QE program was running at full tilt.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":774,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":356104362,"gmtCreate":1616761870356,"gmtModify":1634524142590,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/356104362","repostId":"2122759644","repostType":4,"repost":{"id":"2122759644","pubTimestamp":1616759024,"share":"https://www.laohu8.com/m/news/2122759644?lang=&edition=full","pubTime":"2021-03-26 19:43","market":"us","language":"en","title":"Apple Considers Launching Rugged Watch for Extreme Sports","url":"https://stock-news.laohu8.com/highlight/detail?id=2122759644","media":"Bloomberg","summary":"Company discusses new model to target different watch buyers. Apple Inc. is considering launching an Apple Watch with a rugged casing aimed at athletes, hikers and others who use the device in more extreme environments, according to people familiar with the matter.If Apple goes ahead this time, the rugged version would be an additional model similar to how Apple offers a lower-cost option called the Apple Watch SE and special editions co-branded with Nike Inc. and Hermes International. Sometimes","content":"<ul>\n <li>Company discusses new model to target different watch buyers</li>\n <li>Device may debut later in 2021 or 2022 at the earliest</li>\n</ul>\n<p>Apple Inc.&nbsp;is considering launching an Apple Watch with a rugged casing aimed at athletes, hikers and others who use the device in more extreme environments, according to people familiar with the matter.</p>\n<p>The Cupertino, California-based technology giant has internally discussed introducing such a Watch variation later in 2021 or 2022 at the earliest, said the people, who asked not to be identified discussing private matters.</p>\n<p>This is at least the second time Apple has mulled a rugged smartwatch. After&nbsp;launching the first version&nbsp;of the Apple Watch in 2015, the company weighed a new model to better appeal to extreme sports athletes. The current version is still popular with runners, hikers, and swimmers, and Apple has added several sports and activity-tracking features via its annual update cycle. However,Casio Computer Co.&nbsp;and other watchmakers have seen strong sales from sturdier product designs with extra protection.</p>\n<p><img src=\"https://static.tigerbbs.com/c3d107854e9adb0c69ecdc0ffa047190\" tg-width=\"735\" tg-height=\"490\"></p>\n<p>If Apple goes ahead this time, the rugged version would be an additional model similar to how Apple offers a lower-cost option called the Apple Watch SE and special editions co-branded with Nike Inc. and Hermes International. Sometimes dubbed the “Explorer Edition” inside Apple, the product would have the same functionality as a standard Apple Watch but with extra impact-resistanceand protection in the vein of Casio’s G-Shock watches.</p>\n<p>The latest Apple Watch models are already water-resistant to 50 meters -- at the high end for most smartwatches. But Apple could make a new device more “rugged” by giving it a rubberized exterior that would be useful for environments where the current aluminum, titanium and stainless steel cases might be prone to damage.</p>\n<p>Development of the new Apple Watch variation could ultimately be canceled or delayed, the people familiar the matter said. An Apple spokeswoman declined to comment.</p>\n<p>Apple is also working on new swim tracking features for the Apple Watch. The company typically launches new models in September. Last year, it rolled out the lower-cost Apple Watch SE and added a faster processor and blood oxygen sensor with the Apple Watch Series 6.</p>\n<p>The Apple Watch has become one of Apple’s most important products, though the company does not disclose how much revenue it brings in. The device is part of the company’s wearables, home and accessories segment, which generated sales of more than $30 billion in its last fiscal year. That made it Apple’s most successful product category besides the iPhone. Apple had 40% of the smartwatch market in the final quarter of 2020, according to&nbsp;Counterpoint research.</p>","source":"lsy1584095487587","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 Considers Launching Rugged Watch for Extreme Sports</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 Considers Launching Rugged Watch for Extreme Sports\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-26 19:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-03-26/apple-considers-launching-rugged-watch-for-extreme-sports?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company discusses new model to target different watch buyers\nDevice may debut later in 2021 or 2022 at the earliest\n\nApple Inc. is considering launching an Apple Watch with a rugged casing aimed at ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-03-26/apple-considers-launching-rugged-watch-for-extreme-sports?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.bloomberg.com/news/articles/2021-03-26/apple-considers-launching-rugged-watch-for-extreme-sports?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2122759644","content_text":"Company discusses new model to target different watch buyers\nDevice may debut later in 2021 or 2022 at the earliest\n\nApple Inc. is considering launching an Apple Watch with a rugged casing aimed at athletes, hikers and others who use the device in more extreme environments, according to people familiar with the matter.\nThe Cupertino, California-based technology giant has internally discussed introducing such a Watch variation later in 2021 or 2022 at the earliest, said the people, who asked not to be identified discussing private matters.\nThis is at least the second time Apple has mulled a rugged smartwatch. After launching the first version of the Apple Watch in 2015, the company weighed a new model to better appeal to extreme sports athletes. The current version is still popular with runners, hikers, and swimmers, and Apple has added several sports and activity-tracking features via its annual update cycle. However,Casio Computer Co. and other watchmakers have seen strong sales from sturdier product designs with extra protection.\n\nIf Apple goes ahead this time, the rugged version would be an additional model similar to how Apple offers a lower-cost option called the Apple Watch SE and special editions co-branded with Nike Inc. and Hermes International. Sometimes dubbed the “Explorer Edition” inside Apple, the product would have the same functionality as a standard Apple Watch but with extra impact-resistanceand protection in the vein of Casio’s G-Shock watches.\nThe latest Apple Watch models are already water-resistant to 50 meters -- at the high end for most smartwatches. But Apple could make a new device more “rugged” by giving it a rubberized exterior that would be useful for environments where the current aluminum, titanium and stainless steel cases might be prone to damage.\nDevelopment of the new Apple Watch variation could ultimately be canceled or delayed, the people familiar the matter said. An Apple spokeswoman declined to comment.\nApple is also working on new swim tracking features for the Apple Watch. The company typically launches new models in September. Last year, it rolled out the lower-cost Apple Watch SE and added a faster processor and blood oxygen sensor with the Apple Watch Series 6.\nThe Apple Watch has become one of Apple’s most important products, though the company does not disclose how much revenue it brings in. The device is part of the company’s wearables, home and accessories segment, which generated sales of more than $30 billion in its last fiscal year. That made it Apple’s most successful product category besides the iPhone. Apple had 40% of the smartwatch market in the final quarter of 2020, according to Counterpoint research.","news_type":1},"isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322069028,"gmtCreate":1615736818464,"gmtModify":1703492479235,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Tesla all the way","listText":"Tesla all the way","text":"Tesla all the way","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/322069028","repostId":"1100128328","repostType":4,"repost":{"id":"1100128328","pubTimestamp":1615563404,"share":"https://www.laohu8.com/m/news/1100128328?lang=&edition=full","pubTime":"2021-03-12 23:36","market":"us","language":"en","title":"Tesla Stock Is Down. You Could Blame Joe Biden.","url":"https://stock-news.laohu8.com/highlight/detail?id=1100128328","media":"Barrons","summary":"Stock inTesla is lower after CNBC reported that the electric-vehicle company had a firein its Fremon","content":"<p>Stock inTesla&nbsp;is lower after CNBC reported that the&nbsp;electric-vehicle&nbsp;company&nbsp;had a firein its Fremont, Calif. plant, but the blaze probably isn’t the reason for the dip.</p><p>Fires are just a normal, albeit unfortunate, operating problem for any manufacturer. Tesla (ticker: TSLA) didn’t immediately respond to a request for comment about the fire or the damage it may have caused.</p><p>President Joe Biden is probably responsible for the share-price decline, which left the stock about 2.7% lower in premarket trading, at about $680. It has beena wild weekfor Tesla stockholders. Shares started off the week at about $675,traded above $700and fell to about $560 before bounding back, up 4.7% Thursday, to just under $700.</p><p>Nothing Tesla has done appears to be the reason for the recent volatility. It’s all about interest rates.</p><p>That is where the president comes into the picture. Thursday evening, he addressed the nation, focusing on putting Covid-19 in the rearview mirror a year after the World Health Organization declared that a pandemic had begun.</p><p>“All adult Americans will be eligible to get a vaccine no later than May 1,” said the president, adding the federal government is setting up hundreds of vaccination sites and procuring millions more vaccine doses.</p><p>It’s good news, but the market is selling off Friday morning. For stocks, the speech represents almost too much of a good thing. The economy is reopening and, as a result,bond yields are rising, putting pressure on high-growth stocks.</p><p>Futures on the&nbsp;Nasdaq Composite&nbsp;Index, home to many highflying tech stocks, are down 1.6%.Dow Jones Industrial Averagefutures, on the other hand, are flat.</p><p>Higher yields hurt richly valued, fast-growing companies more than others for a couple of reasons. One, they makes funding growth more expensive. Two, high- growth companies are expected generate most of their cash far in the future. That cash is a little less valuable in present terms when rates are high, compared with when rates are low. In a higher-rate environment, investors have more options to earn interest today, which puts pressure on high-growth stocks’ valuations.</p><p>A Friday dip, however,doesn’t mean the end&nbsp;of the bull market in Tesla, EV stocks or the Nasdaq. Getting the economy back on its feet is a good thing. Investors just need a chance to adjust to the changing landscape.</p><p>“There’s a good chance you, your families and friends will be able to get together in your backyard or in your neighborhood and have a cookout …and celebrate Independence Day,” Biden said. That is great news.</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>Tesla Stock Is Down. You Could Blame Joe Biden.</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\">\nTesla Stock Is Down. You Could Blame Joe Biden.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-12 23:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-stock-is-down-you-could-blame-joe-biden-51615557806?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stock inTesla is lower after CNBC reported that the electric-vehicle company had a firein its Fremont, Calif. plant, but the blaze probably isn’t the reason for the dip.Fires are just a normal, albeit...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-stock-is-down-you-could-blame-joe-biden-51615557806?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.barrons.com/articles/tesla-stock-is-down-you-could-blame-joe-biden-51615557806?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100128328","content_text":"Stock inTesla is lower after CNBC reported that the electric-vehicle company had a firein its Fremont, Calif. plant, but the blaze probably isn’t the reason for the dip.Fires are just a normal, albeit unfortunate, operating problem for any manufacturer. Tesla (ticker: TSLA) didn’t immediately respond to a request for comment about the fire or the damage it may have caused.President Joe Biden is probably responsible for the share-price decline, which left the stock about 2.7% lower in premarket trading, at about $680. It has beena wild weekfor Tesla stockholders. Shares started off the week at about $675,traded above $700and fell to about $560 before bounding back, up 4.7% Thursday, to just under $700.Nothing Tesla has done appears to be the reason for the recent volatility. It’s all about interest rates.That is where the president comes into the picture. Thursday evening, he addressed the nation, focusing on putting Covid-19 in the rearview mirror a year after the World Health Organization declared that a pandemic had begun.“All adult Americans will be eligible to get a vaccine no later than May 1,” said the president, adding the federal government is setting up hundreds of vaccination sites and procuring millions more vaccine doses.It’s good news, but the market is selling off Friday morning. For stocks, the speech represents almost too much of a good thing. The economy is reopening and, as a result,bond yields are rising, putting pressure on high-growth stocks.Futures on the Nasdaq Composite Index, home to many highflying tech stocks, are down 1.6%.Dow Jones Industrial Averagefutures, on the other hand, are flat.Higher yields hurt richly valued, fast-growing companies more than others for a couple of reasons. One, they makes funding growth more expensive. Two, high- growth companies are expected generate most of their cash far in the future. That cash is a little less valuable in present terms when rates are high, compared with when rates are low. In a higher-rate environment, investors have more options to earn interest today, which puts pressure on high-growth stocks’ valuations.A Friday dip, however,doesn’t mean the end of the bull market in Tesla, EV stocks or the Nasdaq. Getting the economy back on its feet is a good thing. Investors just need a chance to adjust to the changing landscape.“There’s a good chance you, your families and friends will be able to get together in your backyard or in your neighborhood and have a cookout …and celebrate Independence Day,” Biden said. That is great news.","news_type":1},"isVote":1,"tweetType":1,"viewCount":124,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360658145,"gmtCreate":1613911314187,"gmtModify":1634551882417,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Can comment on my comments?","listText":"Can comment on my comments?","text":"Can comment on my comments?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/360658145","repostId":"1103921295","repostType":4,"isVote":1,"tweetType":1,"viewCount":120,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115345340,"gmtCreate":1622954265480,"gmtModify":1631891083303,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/115345340","repostId":"2140540596","repostType":4,"repost":{"id":"2140540596","pubTimestamp":1622820692,"share":"https://www.laohu8.com/m/news/2140540596?lang=&edition=full","pubTime":"2021-06-04 23:31","market":"us","language":"en","title":"3 Technology Stocks You Can Buy and Hold for the Next Decade","url":"https://stock-news.laohu8.com/highlight/detail?id=2140540596","media":"Motley Fool","summary":"It can be tough to get married to stocks -- especially tech -- but here are three to leave alone for the long haul.","content":"<p>Let's be honest. A lot of people say their positions in flashy technology companies are meant to be long-term holdings, but they're really just an effort to make a quick buck. And that's OK. Any profitable trade is technically a good trade. If you can get in and out at the right time, so be it.</p>\n<p>Thing is, there are plenty of tech names that are more than just flash-in-the-pan prospects, and are better suited for holding periods measured in years rather than weeks.</p>\n<p>Here's a closer look at three such technology companies. Not only will they be just as impressive 10 years from now as they are today, but their stocks should be trading at much higher prices.</p>\n<h2>Microsoft</h2>\n<p>It's tough to imagine a world without <b>Microsoft</b> (NASDAQ:MSFT). Its Windows operating system is installed on three-fourths of the world's desktops and laptops, according to GlobalStats, and its Office productivity software remains the gold standard for the category. <b>Sony</b>'s PlayStation gaming console enjoys more worldwide market share than Microsoft's Xbox, but the Xbox is closing the gap, and is still the most popular game console in the U.S.</p>\n<p>And these are things consumers can readily see. There's a whole different unseen array of Microsoft-made products that are doing similarly well. For instance, Canalys reports Microsoft's cloud computing business accounted for a second-best 19% of the world's first-quarter cloud infrastructure spending, and the company continues to close the gap with market-leader <b>Amazon</b>.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/362a8a5cb8d412d4e3895fa185d236b7\" tg-width=\"700\" tg-height=\"484\"><span>Image source: Getty Images.</span></p>\n<p>Now take a step back and ask a thoughtful, critical question: Is there any chance the world will have less need for computers, cloud computing, productivity software, or game consoles 10 years from now?</p>\n<p>Any reasonable and realistic answer has to be \"no.\" Indeed, it would be surprising if demand for these products and services wasn't considerably greater a decade from now. Being a market leader in multiple categories, Microsoft can steer the market's ongoing growth in a way that serves itself best. For example, the Windows operating system comes with trial versions of Office software pre-installed.</p>\n<p>Bolstering the bullish argument for long-term ownership of Microsoft is the company's evolving business model. Access to Azure, Office, and even video games can now be utilized on a monthly subscription basis, accessible via the cloud. This shift not only makes the company's products more affordable to begin using but also gives Microsoft a better chance of keeping those customers by making it easy to update and upgrade software.</p>\n<p>Last year, the last time Microsoft disclosed such data, it had already lined up more than $100 billion worth of subscription cloud revenue that had yet to be booked -- a figure that continues to edge upward.</p>\n<h2><a href=\"https://laohu8.com/S/PANW\">Palo Alto Networks</a></h2>\n<p>Even after several high-profile cybersecurity gaffes embarrassed organizations ranging from <b>Target </b>to <b>Equifax</b> to Yahoo!, some of the world's most important companies are still being hacked. Most recently, Colonial Pipeline agreed to fork over $4.4 million to a computer hacking group known as Darkside to regain control of its 5,500 miles worth of refined oil pipelines.</p>\n<p>These things are preventable. They're just not being prevented, as too many organizations don't utilize all the digital defenses available to them. Perhaps the Colonial Pipeline debacle will encourage procurement of this protection.</p>\n<p>Enter <b>Palo Alto Networks</b> (NYSE:PANW). Simply put, Palo Alto offers software preventing unauthorized access to a company's network, internal apps, and data. It's even got a ransomware protection solution in its lineup that might have been able to save Colonial Pipeline a few million bucks.</p>\n<p>The opportunity is incredible, and should remain so for a while. P&amp;S Intelligence believes the cybersecurity market will grow at an average annual pace of 12.6%, from 2019's $120 billion to $434 billion by 2030. That's a lot, but it's only a fraction of the $10.5 trillion that Cybersecurity Ventures believes cybercrime will cost the world in 2025 alone if enterprises don't step up their digital defense games.</p>\n<p>Palo Alto is doing fine, logging more than seven consecutive years of rising revenue as more and more outfits build their digital moats. Given the outlook, more of the same kind of growth is in the cards for a while.</p>\n<h2>International Business Machines</h2>\n<p>Finally, add <b>International Business Machines</b> (NYSE:IBM) to your list of technology stocks to buy and hold for the next decade.</p>\n<p>Yes, this is the same IBM that failed to respond to the advent of things like cloud computing, mobile devices, and all that goes with both. The company's \"strategic imperatives\" plan unveiled in 2015 was meant to steer the company away from a legacy mainframe business that was already dying and toward more contemporary opportunities like the aforementioned cloud and mobile security. By and large, though, it was too little too late.</p>\n<p>The IBM of today, however, isn't the IBM from even as recently as two years ago. It's ready to compete where it counts.</p>\n<p>Take last month's revelation of new technologies capable of fabricating a 2-nanometer microchip as an example. The microscopic measure is in reference to how small a chip's transistors can be made and still function properly. The smaller, the better, as smaller transistors consume less power, operate faster, and require less space when room is a factor. For perspective, 7-nanometer chips are the best the market has to offer right now.</p>\n<p>It's not just more functional chips IBM is starting to develop, either. Just within the past few weeks, the company has unveiled a way for data centers to more efficiently store and retrieve data, and launched AutoSQL, which is capable of retrieving data eight times faster than previous approaches are. Both technologies have a myriad of potential uses, including in the artificial intelligence arena.</p>\n<p>Read between the lines. This isn't yesteryear's IBM.</p>\n<p>It could still take years for the company to fully monetize these and other breakthroughs, but they're worth the wait.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Technology Stocks You Can Buy and Hold for the Next Decade</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Technology Stocks You Can Buy and Hold for the Next Decade\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 23:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/04/3-technology-stocks-you-can-buy-and-hold-for-the-n/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Let's be honest. A lot of people say their positions in flashy technology companies are meant to be long-term holdings, but they're really just an effort to make a quick buck. And that's OK. Any ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/04/3-technology-stocks-you-can-buy-and-hold-for-the-n/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IBM":"IBM","PANW":"Palo Alto Networks","MSFT":"微软"},"source_url":"https://www.fool.com/investing/2021/06/04/3-technology-stocks-you-can-buy-and-hold-for-the-n/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2140540596","content_text":"Let's be honest. A lot of people say their positions in flashy technology companies are meant to be long-term holdings, but they're really just an effort to make a quick buck. And that's OK. Any profitable trade is technically a good trade. If you can get in and out at the right time, so be it.\nThing is, there are plenty of tech names that are more than just flash-in-the-pan prospects, and are better suited for holding periods measured in years rather than weeks.\nHere's a closer look at three such technology companies. Not only will they be just as impressive 10 years from now as they are today, but their stocks should be trading at much higher prices.\nMicrosoft\nIt's tough to imagine a world without Microsoft (NASDAQ:MSFT). Its Windows operating system is installed on three-fourths of the world's desktops and laptops, according to GlobalStats, and its Office productivity software remains the gold standard for the category. Sony's PlayStation gaming console enjoys more worldwide market share than Microsoft's Xbox, but the Xbox is closing the gap, and is still the most popular game console in the U.S.\nAnd these are things consumers can readily see. There's a whole different unseen array of Microsoft-made products that are doing similarly well. For instance, Canalys reports Microsoft's cloud computing business accounted for a second-best 19% of the world's first-quarter cloud infrastructure spending, and the company continues to close the gap with market-leader Amazon.\nImage source: Getty Images.\nNow take a step back and ask a thoughtful, critical question: Is there any chance the world will have less need for computers, cloud computing, productivity software, or game consoles 10 years from now?\nAny reasonable and realistic answer has to be \"no.\" Indeed, it would be surprising if demand for these products and services wasn't considerably greater a decade from now. Being a market leader in multiple categories, Microsoft can steer the market's ongoing growth in a way that serves itself best. For example, the Windows operating system comes with trial versions of Office software pre-installed.\nBolstering the bullish argument for long-term ownership of Microsoft is the company's evolving business model. Access to Azure, Office, and even video games can now be utilized on a monthly subscription basis, accessible via the cloud. This shift not only makes the company's products more affordable to begin using but also gives Microsoft a better chance of keeping those customers by making it easy to update and upgrade software.\nLast year, the last time Microsoft disclosed such data, it had already lined up more than $100 billion worth of subscription cloud revenue that had yet to be booked -- a figure that continues to edge upward.\nPalo Alto Networks\nEven after several high-profile cybersecurity gaffes embarrassed organizations ranging from Target to Equifax to Yahoo!, some of the world's most important companies are still being hacked. Most recently, Colonial Pipeline agreed to fork over $4.4 million to a computer hacking group known as Darkside to regain control of its 5,500 miles worth of refined oil pipelines.\nThese things are preventable. They're just not being prevented, as too many organizations don't utilize all the digital defenses available to them. Perhaps the Colonial Pipeline debacle will encourage procurement of this protection.\nEnter Palo Alto Networks (NYSE:PANW). Simply put, Palo Alto offers software preventing unauthorized access to a company's network, internal apps, and data. It's even got a ransomware protection solution in its lineup that might have been able to save Colonial Pipeline a few million bucks.\nThe opportunity is incredible, and should remain so for a while. P&S Intelligence believes the cybersecurity market will grow at an average annual pace of 12.6%, from 2019's $120 billion to $434 billion by 2030. That's a lot, but it's only a fraction of the $10.5 trillion that Cybersecurity Ventures believes cybercrime will cost the world in 2025 alone if enterprises don't step up their digital defense games.\nPalo Alto is doing fine, logging more than seven consecutive years of rising revenue as more and more outfits build their digital moats. Given the outlook, more of the same kind of growth is in the cards for a while.\nInternational Business Machines\nFinally, add International Business Machines (NYSE:IBM) to your list of technology stocks to buy and hold for the next decade.\nYes, this is the same IBM that failed to respond to the advent of things like cloud computing, mobile devices, and all that goes with both. The company's \"strategic imperatives\" plan unveiled in 2015 was meant to steer the company away from a legacy mainframe business that was already dying and toward more contemporary opportunities like the aforementioned cloud and mobile security. By and large, though, it was too little too late.\nThe IBM of today, however, isn't the IBM from even as recently as two years ago. It's ready to compete where it counts.\nTake last month's revelation of new technologies capable of fabricating a 2-nanometer microchip as an example. The microscopic measure is in reference to how small a chip's transistors can be made and still function properly. The smaller, the better, as smaller transistors consume less power, operate faster, and require less space when room is a factor. For perspective, 7-nanometer chips are the best the market has to offer right now.\nIt's not just more functional chips IBM is starting to develop, either. Just within the past few weeks, the company has unveiled a way for data centers to more efficiently store and retrieve data, and launched AutoSQL, which is capable of retrieving data eight times faster than previous approaches are. Both technologies have a myriad of potential uses, including in the artificial intelligence arena.\nRead between the lines. This isn't yesteryear's IBM.\nIt could still take years for the company to fully monetize these and other breakthroughs, but they're worth the wait.","news_type":1},"isVote":1,"tweetType":1,"viewCount":124,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377586533,"gmtCreate":1619535900522,"gmtModify":1631891083317,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/377586533","repostId":"1123159959","repostType":4,"isVote":1,"tweetType":1,"viewCount":287,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":375956237,"gmtCreate":1619284204729,"gmtModify":1631891083324,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/375956237","repostId":"1166519043","repostType":4,"isVote":1,"tweetType":1,"viewCount":301,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345595649,"gmtCreate":1618322652081,"gmtModify":1634293722056,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/345595649","repostId":"1150541075","repostType":4,"repost":{"id":"1150541075","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618320851,"share":"https://www.laohu8.com/m/news/1150541075?lang=&edition=full","pubTime":"2021-04-13 21:34","market":"us","language":"en","title":"Dow falls slightly from record amid J&J vaccine pause","url":"https://stock-news.laohu8.com/highlight/detail?id=1150541075","media":"Tiger Newspress","summary":"Dow falls slightly from record amid J&J vaccine pause.Blockchain stocks rose.NovoCure surged about 5","content":"<ul><li>Dow falls slightly from record amid J&amp;J vaccine pause.</li><li>Blockchain stocks rose.</li><li>NovoCure surged about&nbsp;50%.</li></ul><p>(April 13)&nbsp;U.S. stocks opened mixed after a volatile premarket session Tuesday after public health agencies announced a temporary halt in the use of a COVID-19 vaccine from Johnson &amp; Johnson and inflation was stronger than analysts had forecast in March.</p><p>The Dow Jones Industrial Average&nbsp;fell 62 points, 0.2%, to open near 33,684, while the S&amp;P 500&nbsp;gained 1 point to open near 4,129. The Nasdaq Composite index,&nbsp;which contains many of the stocks most in favor in a work-from-home world, added 65 points, 0.5%, to start trading near 13,915.</p><p>Johnson &amp; Johnson shares&nbsp;slipped 2.4% after the opening bell. In other biotech news, shares of Novocure Ltd.&nbsp;skyrocketed after the tumor treatment company reported positive news on its lung cancer treatment. The consumer price index gained 2.6% for the year in March, the Labor Department 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>Dow falls slightly from record amid J&J vaccine pause</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\">\nDow falls slightly from record amid J&J vaccine pause\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-04-13 21:34</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul><li>Dow falls slightly from record amid J&amp;J vaccine pause.</li><li>Blockchain stocks rose.</li><li>NovoCure surged about&nbsp;50%.</li></ul><p>(April 13)&nbsp;U.S. stocks opened mixed after a volatile premarket session Tuesday after public health agencies announced a temporary halt in the use of a COVID-19 vaccine from Johnson &amp; Johnson and inflation was stronger than analysts had forecast in March.</p><p>The Dow Jones Industrial Average&nbsp;fell 62 points, 0.2%, to open near 33,684, while the S&amp;P 500&nbsp;gained 1 point to open near 4,129. The Nasdaq Composite index,&nbsp;which contains many of the stocks most in favor in a work-from-home world, added 65 points, 0.5%, to start trading near 13,915.</p><p>Johnson &amp; Johnson shares&nbsp;slipped 2.4% after the opening bell. In other biotech news, shares of Novocure Ltd.&nbsp;skyrocketed after the tumor treatment company reported positive news on its lung cancer treatment. The consumer price index gained 2.6% for the year in March, the Labor Department said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150541075","content_text":"Dow falls slightly from record amid J&J vaccine pause.Blockchain stocks rose.NovoCure surged about 50%.(April 13) U.S. stocks opened mixed after a volatile premarket session Tuesday after public health agencies announced a temporary halt in the use of a COVID-19 vaccine from Johnson & Johnson and inflation was stronger than analysts had forecast in March.The Dow Jones Industrial Average fell 62 points, 0.2%, to open near 33,684, while the S&P 500 gained 1 point to open near 4,129. The Nasdaq Composite index, which contains many of the stocks most in favor in a work-from-home world, added 65 points, 0.5%, to start trading near 13,915.Johnson & Johnson shares slipped 2.4% after the opening bell. In other biotech news, shares of Novocure Ltd. skyrocketed after the tumor treatment company reported positive news on its lung cancer treatment. The consumer price index gained 2.6% for the year in March, the Labor Department said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":87,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366226455,"gmtCreate":1614492930677,"gmtModify":1703477836717,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Just buy&nbsp;","listText":"Just buy&nbsp;","text":"Just buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/366226455","repostId":"1118155789","repostType":4,"repost":{"id":"1118155789","pubTimestamp":1614317716,"share":"https://www.laohu8.com/m/news/1118155789?lang=&edition=full","pubTime":"2021-02-26 13:35","market":"us","language":"en","title":"Bitcoin Heads for Worst Weekly Slide in a Year Amid Risk Selloff","url":"https://stock-news.laohu8.com/highlight/detail?id=1118155789","media":"Bloomberg","summary":"Largest cryptocurrency drops as much as 20% in the period\nSelling in Grayscale trust may be contribu","content":"<ul>\n <li>Largest cryptocurrency drops as much as 20% in the period</li>\n <li>Selling in Grayscale trust may be contributing: Ayyar</li>\n</ul>\n<p>Bitcoin’s rally this year has hit a speed bump, putting it on track for the worst weekly slide in almost a year amid wider losses in risk assets.</p>\n<p>The largest cryptocurrency slumped as much as 20% this week, the most since March, and was holding at about $46,925 as of 10:22 a.m. in Hong Kong. The wider Bloomberg Galaxy Crypto Index, tracking Bitcoin, Ether and three other cryptocurrencies, is down 22% this week.</p>\n<p>The rough patch for Bitcoin comes amid wider chaos in global markets, as a surge in bond yields heralds growing expectations that growth and inflation are moving higher and forcing traders to reevaluate their positions across multiple asset classes. The tech-heavy Nasdaq 100 dropped in seven of the past eight sessions as stocks like Tesla Inc. and Peloton Interactive Inc. declined.</p>\n<p>“Risk-on assets are taking a hit at the moment -- we’re seeing stocks slide and crypto is following,” said Vijay Ayyar, head of Asia Pacific for cryptocurrency exchange Luno in Singapore. “The dollar is strengthening, which is a good indication to expect a slide in Bitcoin and crypto.”</p>\n<p><img src=\"https://static.tigerbbs.com/311623db1532f9b038cc94507f123ee1\" tg-width=\"1200\" tg-height=\"675\"></p>\n<p>Bitcoin’s weakness in the face of market gyrations raises questions about its efficacy as a store of value and hedge against inflation, a key argument among proponents of its stunning fivefold rally over the past year. Detractors have maintained the digital asset’s surge is a speculative bubble and it’s destined for a repeat of the 2017 boom and bust.</p>\n<p>While Bitcoin is often touted as the new “digital gold,” the yellow metal is winning out at the moment with spot gold holding at $1,768 per ounce, down less than 1% for the week. The Bloomberg Dollar Spot Index is up 0.3% in the same period, on track for its strongest gain in a month.</p>\n<p>Heavy selling in the&nbsp;Grayscale Bitcoin Trust, the world’s largest such fund, as well as the expiry of Bitcoin options are also contributing to the volatility, Ayyar said. The trust has slumped 20% this week, with losses at one point racing past its underlying asset, as a once-massive&nbsp;price premiumover Bitcoin has evaporated as investors cashed in on those gains, he said.</p>","source":"lsy1584095487587","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>Bitcoin Heads for Worst Weekly Slide in a Year Amid Risk Selloff</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\">\nBitcoin Heads for Worst Weekly Slide in a Year Amid Risk Selloff\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-26 13:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-02-26/bitcoin-heads-for-worst-weekly-slide-in-a-year-amid-risk-selloff><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Largest cryptocurrency drops as much as 20% in the period\nSelling in Grayscale trust may be contributing: Ayyar\n\nBitcoin’s rally this year has hit a speed bump, putting it on track for the worst ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-02-26/bitcoin-heads-for-worst-weekly-slide-in-a-year-amid-risk-selloff\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.bloomberg.com/news/articles/2021-02-26/bitcoin-heads-for-worst-weekly-slide-in-a-year-amid-risk-selloff","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118155789","content_text":"Largest cryptocurrency drops as much as 20% in the period\nSelling in Grayscale trust may be contributing: Ayyar\n\nBitcoin’s rally this year has hit a speed bump, putting it on track for the worst weekly slide in almost a year amid wider losses in risk assets.\nThe largest cryptocurrency slumped as much as 20% this week, the most since March, and was holding at about $46,925 as of 10:22 a.m. in Hong Kong. The wider Bloomberg Galaxy Crypto Index, tracking Bitcoin, Ether and three other cryptocurrencies, is down 22% this week.\nThe rough patch for Bitcoin comes amid wider chaos in global markets, as a surge in bond yields heralds growing expectations that growth and inflation are moving higher and forcing traders to reevaluate their positions across multiple asset classes. The tech-heavy Nasdaq 100 dropped in seven of the past eight sessions as stocks like Tesla Inc. and Peloton Interactive Inc. declined.\n“Risk-on assets are taking a hit at the moment -- we’re seeing stocks slide and crypto is following,” said Vijay Ayyar, head of Asia Pacific for cryptocurrency exchange Luno in Singapore. “The dollar is strengthening, which is a good indication to expect a slide in Bitcoin and crypto.”\n\nBitcoin’s weakness in the face of market gyrations raises questions about its efficacy as a store of value and hedge against inflation, a key argument among proponents of its stunning fivefold rally over the past year. Detractors have maintained the digital asset’s surge is a speculative bubble and it’s destined for a repeat of the 2017 boom and bust.\nWhile Bitcoin is often touted as the new “digital gold,” the yellow metal is winning out at the moment with spot gold holding at $1,768 per ounce, down less than 1% for the week. The Bloomberg Dollar Spot Index is up 0.3% in the same period, on track for its strongest gain in a month.\nHeavy selling in the Grayscale Bitcoin Trust, the world’s largest such fund, as well as the expiry of Bitcoin options are also contributing to the volatility, Ayyar said. The trust has slumped 20% this week, with losses at one point racing past its underlying asset, as a once-massive price premiumover Bitcoin has evaporated as investors cashed in on those gains, he said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":14,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":369356969,"gmtCreate":1614005759951,"gmtModify":1634551560456,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Help me comment","listText":"Help me comment","text":"Help me comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/369356969","repostId":"1195232127","repostType":4,"repost":{"id":"1195232127","pubTimestamp":1613980019,"share":"https://www.laohu8.com/m/news/1195232127?lang=&edition=full","pubTime":"2021-02-22 15:46","market":"us","language":"en","title":"Amazon Blocks Ambani’s $3.4 Billion Deal to Buy Retailer","url":"https://stock-news.laohu8.com/highlight/detail?id=1195232127","media":"Bloomberg","summary":"Reliance Industries wants to buy Future Group’s retail assets\nTop India court has stopped final appr","content":"<ul>\n <li>Reliance Industries wants to buy Future Group’s retail assets</li>\n <li>Top India court has stopped final approval for the transaction</li>\n</ul>\n<p>India’s Supreme Court stopped regulatory approval for the Future Group’s $3.4 billion asset sale to&nbsp;Reliance Industries Ltd., halting the deal for now and handing a legal win to&nbsp;Amazon.com Inc., which wants to scuttle the transaction in its bid to dominate the country’s retail sector.</p>\n<p>Agreeing with the American e-commerce giant’s petition, the top court on Monday overturned a&nbsp;lower court’s ruling&nbsp;and said the company tribunal can continue hearing the case but must not give a final nod till further orders. The court also sought written statements from&nbsp;Future Retail Ltd.and said it will hear the case after five weeks. Future’s stocks and bonds fell.</p>\n<p>The latest verdict restores the legal advantage for Jeff Bezos-founded Amazon that secured an&nbsp;interim stay&nbsp;on the deal from a Singapore arbitration tribunal in October. It accused the Future Group of violating a partnership contract when it agreed to sell assets to billionaire Mukesh Ambani’s conglomerate last year. The Monday order, however, endangers Future Retail, which is struggling to pay debt and has warned of insolvency.</p>\n<p>Future Retail’s stock fell as much as 10% and its dollar bond maturing in 2025&nbsp;gave up&nbsp;earlier gains after the court order Monday, falling the most in two weeks, Bloomberg-compiled prices show. Reliance Industries also&nbsp;slipped&nbsp;as much as 2.6%.</p>\n<p><img src=\"https://static.tigerbbs.com/fb10485191ab2830d2f912a6ac062ec5\" tg-width=\"1200\" tg-height=\"675\"></p>\n<p>Representatives for Amazon India, Future and Reliance Industries didn’t immediately respond to requests for comment.</p>\n<p>Future Retail can move the Singapore arbitration tribunal to lift the interim stay the emergency arbitrator had imposed, that has formed the basis of Indian Supreme Court’s order.</p>\n<p>The cash strapped Indian retailer, which says it would collapse should the deal with Reliance fail, is caught between two of the world’s richest men as they compete for dominance in India’s estimated $1 trillion consumer retail market. The legal dispute over Future has turned into a fierce legal wrangle across courtrooms in two countries. Amazon is unwilling to cede any competitive advantage to Reliance in the only billion-people-plus market left in the world after the American firm lost out to local rivals in China.</p>\n<p>The case is also&nbsp;keenly watched&nbsp;by investors as it sets a precedent on the validity of emergency decisions by foreign arbitrators in India. The verdict comes at a time when Amazon is increasing its footprint in the country. The U.S. firm announced this month that it was&nbsp;setting upmanufacturing operations in the South Asian country.</p>","source":"lsy1584095487587","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>Amazon Blocks Ambani’s $3.4 Billion Deal to Buy Retailer</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\">\nAmazon Blocks Ambani’s $3.4 Billion Deal to Buy Retailer\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-22 15:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-02-22/top-india-court-halts-future-s-3-4-billion-deal-on-amazon-plea?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Reliance Industries wants to buy Future Group’s retail assets\nTop India court has stopped final approval for the transaction\n\nIndia’s Supreme Court stopped regulatory approval for the Future Group’s $...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-02-22/top-india-court-halts-future-s-3-4-billion-deal-on-amazon-plea?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"http://bloomberg.com/news/articles/2021-02-22/top-india-court-halts-future-s-3-4-billion-deal-on-amazon-plea?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195232127","content_text":"Reliance Industries wants to buy Future Group’s retail assets\nTop India court has stopped final approval for the transaction\n\nIndia’s Supreme Court stopped regulatory approval for the Future Group’s $3.4 billion asset sale to Reliance Industries Ltd., halting the deal for now and handing a legal win to Amazon.com Inc., which wants to scuttle the transaction in its bid to dominate the country’s retail sector.\nAgreeing with the American e-commerce giant’s petition, the top court on Monday overturned a lower court’s ruling and said the company tribunal can continue hearing the case but must not give a final nod till further orders. The court also sought written statements from Future Retail Ltd.and said it will hear the case after five weeks. Future’s stocks and bonds fell.\nThe latest verdict restores the legal advantage for Jeff Bezos-founded Amazon that secured an interim stay on the deal from a Singapore arbitration tribunal in October. It accused the Future Group of violating a partnership contract when it agreed to sell assets to billionaire Mukesh Ambani’s conglomerate last year. The Monday order, however, endangers Future Retail, which is struggling to pay debt and has warned of insolvency.\nFuture Retail’s stock fell as much as 10% and its dollar bond maturing in 2025 gave up earlier gains after the court order Monday, falling the most in two weeks, Bloomberg-compiled prices show. Reliance Industries also slipped as much as 2.6%.\n\nRepresentatives for Amazon India, Future and Reliance Industries didn’t immediately respond to requests for comment.\nFuture Retail can move the Singapore arbitration tribunal to lift the interim stay the emergency arbitrator had imposed, that has formed the basis of Indian Supreme Court’s order.\nThe cash strapped Indian retailer, which says it would collapse should the deal with Reliance fail, is caught between two of the world’s richest men as they compete for dominance in India’s estimated $1 trillion consumer retail market. The legal dispute over Future has turned into a fierce legal wrangle across courtrooms in two countries. Amazon is unwilling to cede any competitive advantage to Reliance in the only billion-people-plus market left in the world after the American firm lost out to local rivals in China.\nThe case is also keenly watched by investors as it sets a precedent on the validity of emergency decisions by foreign arbitrators in India. The verdict comes at a time when Amazon is increasing its footprint in the country. The U.S. firm announced this month that it was setting upmanufacturing operations in the South Asian country.","news_type":1},"isVote":1,"tweetType":1,"viewCount":52,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360687372,"gmtCreate":1613905846496,"gmtModify":1634551894944,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Haiz","listText":"Haiz","text":"Haiz","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/360687372","repostId":"2112149478","repostType":4,"repost":{"id":"2112149478","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1613724786,"share":"https://www.laohu8.com/m/news/2112149478?lang=&edition=full","pubTime":"2021-02-19 16:53","market":"other","language":"en","title":"Dollar slips further after disappointing jobs data, sterling shines","url":"https://stock-news.laohu8.com/highlight/detail?id=2112149478","media":"Reuters","summary":"LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after di","content":"<p>LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark.</p>\n<p>The U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback.</p>\n<p>But an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight.</p>\n<p>On Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.</p>\n<p>The string of soft labour data is weighing on the dollar even as other indicators have shown resilience, and as President Joe Biden's pandemic relief efforts take shape, including a proposed $1.9 trillion spending package.</p>\n<p>The euro rose 0.2% to $1.2113 . The single currency showed little reaction to German and French flash purchasing manager index data, which unsurprisingly showed a slowdown in activity in January.</p>\n<p>Despite the recent rise in U.S. yields, many analysts think they won't climb too much higher, limiting the benefit for the dollar.</p>\n<p>ING analysts said that \"the rise in rates will be self-regulating, meaning the dollar need not correct too much higher.\"</p>\n<p>They see the greenback index trading down to the 90.10 to 91.05 range&nbsp;Sterling has been the standout performer in 2021 and on Friday rose to $1.3987, an almost three-year high amid Britain's aggressive vaccination programme.</p>\n<p>Given the size of Britain's vital services sector, analysts say the faster it can reopen the economy the better for the currency.</p>\n<p>The dollar bought 105.46 yen , down 0.2% and a continued retreat from the five-month high of 106.225 reached Wednesday.</p>\n<p>Many analysts expect the dollar to weaken over the course of the year as it has traditionally done during times of global economic recovery, though it might take some time to develop.</p>\n<p>\"It looks to me like there’s some exhaustion in that just-straight global reflation theme,\" leading the dollar to trend largely sideways for now, said Daniel Been, head of FX at ANZ in Sydney.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dollar slips further after disappointing jobs data, sterling shines</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDollar slips further after disappointing jobs data, sterling shines\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-02-19 16:53</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark.</p>\n<p>The U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback.</p>\n<p>But an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight.</p>\n<p>On Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.</p>\n<p>The string of soft labour data is weighing on the dollar even as other indicators have shown resilience, and as President Joe Biden's pandemic relief efforts take shape, including a proposed $1.9 trillion spending package.</p>\n<p>The euro rose 0.2% to $1.2113 . The single currency showed little reaction to German and French flash purchasing manager index data, which unsurprisingly showed a slowdown in activity in January.</p>\n<p>Despite the recent rise in U.S. yields, many analysts think they won't climb too much higher, limiting the benefit for the dollar.</p>\n<p>ING analysts said that \"the rise in rates will be self-regulating, meaning the dollar need not correct too much higher.\"</p>\n<p>They see the greenback index trading down to the 90.10 to 91.05 range&nbsp;Sterling has been the standout performer in 2021 and on Friday rose to $1.3987, an almost three-year high amid Britain's aggressive vaccination programme.</p>\n<p>Given the size of Britain's vital services sector, analysts say the faster it can reopen the economy the better for the currency.</p>\n<p>The dollar bought 105.46 yen , down 0.2% and a continued retreat from the five-month high of 106.225 reached Wednesday.</p>\n<p>Many analysts expect the dollar to weaken over the course of the year as it has traditionally done during times of global economic recovery, though it might take some time to develop.</p>\n<p>\"It looks to me like there’s some exhaustion in that just-straight global reflation theme,\" leading the dollar to trend largely sideways for now, said Daniel Been, head of FX at ANZ in Sydney.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FXY":"日元ETF-CurrencyShares","EUO":"欧元ETF-ProShares两倍做空","FXE":"欧元做多ETF-CurrencyShares","FXA":"澳元ETF-CurrencyShares","YCS":"日元ETF-ProShares两倍做空","ANZ.AU":"ANZ GROUP HOLDINGS LTD","FXC":"加元ETF-CurrencyShares"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2112149478","content_text":"LONDON, Feb 19 (Reuters) - The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark.\nThe U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback.\nBut an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight.\nOn Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.\nThe string of soft labour data is weighing on the dollar even as other indicators have shown resilience, and as President Joe Biden's pandemic relief efforts take shape, including a proposed $1.9 trillion spending package.\nThe euro rose 0.2% to $1.2113 . The single currency showed little reaction to German and French flash purchasing manager index data, which unsurprisingly showed a slowdown in activity in January.\nDespite the recent rise in U.S. yields, many analysts think they won't climb too much higher, limiting the benefit for the dollar.\nING analysts said that \"the rise in rates will be self-regulating, meaning the dollar need not correct too much higher.\"\nThey see the greenback index trading down to the 90.10 to 91.05 range Sterling has been the standout performer in 2021 and on Friday rose to $1.3987, an almost three-year high amid Britain's aggressive vaccination programme.\nGiven the size of Britain's vital services sector, analysts say the faster it can reopen the economy the better for the currency.\nThe dollar bought 105.46 yen , down 0.2% and a continued retreat from the five-month high of 106.225 reached Wednesday.\nMany analysts expect the dollar to weaken over the course of the year as it has traditionally done during times of global economic recovery, though it might take some time to develop.\n\"It looks to me like there’s some exhaustion in that just-straight global reflation theme,\" leading the dollar to trend largely sideways for now, said Daniel Been, head of FX at ANZ in Sydney.","news_type":1},"isVote":1,"tweetType":1,"viewCount":50,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360936602,"gmtCreate":1613807362406,"gmtModify":1634552140336,"author":{"id":"3574322040124399","authorId":"3574322040124399","name":"Bradan","avatar":"https://static.tigerbbs.com/fb7aa62aecabfd15d4222728e89bb1e4","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574322040124399","idStr":"3574322040124399"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/360936602","repostId":"1107899645","repostType":4,"repost":{"id":"1107899645","pubTimestamp":1613704060,"share":"https://www.laohu8.com/m/news/1107899645?lang=&edition=full","pubTime":"2021-02-19 11:07","market":"us","language":"en","title":"Palantir stock slumps as lockup expiration opens 80% of shares for trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1107899645","media":"Seeking Alpha","summary":"Palantir Technologies Inc. 's direct listing in September unusually included a lockup period, which ","content":"<p><a href=\"https://laohu8.com/S/PLTR\">Palantir Technologies Inc.</a> 's&nbsp;direct listing in September unusually included a lockup period, which expires today. Insiders were only allowed to sell 20%of their shares in the listing, which means the remaining 80% are open for trading today. Palantir shares aredown 5.8%pre-market.</p>\n<p>Palantir has faced valuation concerns with shares closing yesterday at about 274% above its direct listing reference price.</p>\n<p>Soros Fund Management will continue exiting its position that amounted to&nbsp; 18.46M shares as of November, when the fund said it regretted the investment and \"does not approve of Palantir's business practices.\"</p>\n<p>The fund said at the time it had sold all the shares it could and would keep selling,when permitted.</p>\n<p><img src=\"https://static.tigerbbs.com/4eb04e82d11b2b74032cb91d003dd907\" tg-width=\"540\" tg-height=\"445\"></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>Palantir stock slumps as lockup expiration opens 80% of shares for trading</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\">\nPalantir stock slumps as lockup expiration opens 80% of shares for trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-19 11:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3663407-palantir-stock-slumps-as-lockup-expiration-opens-80-of-shares-for-trading><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Palantir Technologies Inc. 's direct listing in September unusually included a lockup period, which expires today. Insiders were only allowed to sell 20%of their shares in the listing, which means the...</p>\n\n<a href=\"https://seekingalpha.com/news/3663407-palantir-stock-slumps-as-lockup-expiration-opens-80-of-shares-for-trading\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3663407-palantir-stock-slumps-as-lockup-expiration-opens-80-of-shares-for-trading","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107899645","content_text":"Palantir Technologies Inc. 's direct listing in September unusually included a lockup period, which expires today. Insiders were only allowed to sell 20%of their shares in the listing, which means the remaining 80% are open for trading today. Palantir shares aredown 5.8%pre-market.\nPalantir has faced valuation concerns with shares closing yesterday at about 274% above its direct listing reference price.\nSoros Fund Management will continue exiting its position that amounted to  18.46M shares as of November, when the fund said it regretted the investment and \"does not approve of Palantir's business practices.\"\nThe fund said at the time it had sold all the shares it could and would keep selling,when permitted.","news_type":1},"isVote":1,"tweetType":1,"viewCount":50,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}