Thiogui的个人主页 - 老虎社区

Thiogui

暂无个人介绍

IP属地：未知

2关注

1粉丝

0主题

0勋章

2021-06-13

👍🏼

抱歉，原内容已删除

2021-06-13

👍🏼👍🏼

抱歉，原内容已删除

2021-06-14

Good

Amazon: The Virtuous Cycle At A Fair Price

2021-06-14

Good!

抱歉，原内容已删除

2021-06-13

👍🏼👍🏼👍🏼

S&P ekes out gains to close languid week

2021-06-13

👍🏼👍🏼👍🏼

2 Crucial Lessons From Cathie Wood About Apple Stock

2021-12-19

Yes!!!

2021-12-16

Hello

2021-11-08

Yes

@小虎活动:[Halloween Game] Trade or Treat!

2021-11-05

Yes

@小虎活动:[Halloween Game] Trade or Treat!

2021-11-04

Apple!

@小虎活动:[Halloween Game] Trade or Treat!

2021-11-04

Yes

@小虎活动:[Halloween Game] Trade or Treat!

2021-11-02

Yup

@小虎活动:[Halloween Game] Trade or Treat!

2021-10-31

Great

@小虎活动:[Halloween Game] Trade or Treat!

2021-10-29

Great

@小虎活动:[Halloween Game] Trade or Treat!

2021-10-29

Yes

@小虎活动:[Halloween Game] Trade or Treat!

2021-06-16

Nice

Buy Boeing Stock Because ‘a Change Is Gonna Come’

2021-06-16

Nice

NIO: Buy This Chinese EV Manufacturer While It's Still Cheap

2021-06-16

Good

抱歉，原内容已删除

2021-06-16

Good

抱歉，原内容已删除

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3576156131829756","uuid":"3576156131829756","gmtCreate":1613064188628,"gmtModify":1613064188628,"name":"Thiogui","pinyin":"thiogui","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.laohu8.com/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":1,"headSize":2,"tweetSize":32,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"228c86a078844d74991fff2b7ab2428d-1","templateUuid":"228c86a078844d74991fff2b7ab2428d","name":"投资经理虎","description":"证券账户累计交易金额达到10万美元","bigImgUrl":"https://static.tigerbbs.com/c8dfc27c1ee0e25db1c93e9d0b641101","smallImgUrl":"https://static.tigerbbs.com/f43908c142f8a33c78f5bdf0e2897488","grayImgUrl":"https://static.tigerbbs.com/82165ff19cb8a786e8919f92acee5213","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"60.60%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.07.02","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"35ec162348d5460f88c959321e554969-1","templateUuid":"35ec162348d5460f88c959321e554969","name":"精英交易员","description":"证券或期货账户累计交易次数达到30次","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"60.65%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":5,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"hot","tweets":[{"id":699795072,"gmtCreate":1639889340833,"gmtModify":1639889340833,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Yes!!!","listText":"Yes!!!","text":"Yes!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/699795072","isVote":1,"tweetType":1,"viewCount":319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690650709,"gmtCreate":1639665628356,"gmtModify":1639665628446,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690650709","isVote":1,"tweetType":1,"viewCount":591,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":844099159,"gmtCreate":1636374912574,"gmtModify":1636374912704,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/844099159","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":846975039,"gmtCreate":1636043598791,"gmtModify":1636043608198,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/846975039","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":515,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848498531,"gmtCreate":1636017435964,"gmtModify":1636017436056,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Apple!&nbsp;","listText":"Apple!&nbsp;","text":"Apple!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848498531","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":378,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848292772,"gmtCreate":1635999442057,"gmtModify":1635999442147,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848292772","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":195,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":843085924,"gmtCreate":1635782595676,"gmtModify":1635782595952,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Yup","listText":"Yup","text":"Yup","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/843085924","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":444,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":840748721,"gmtCreate":1635694585929,"gmtModify":1635694586037,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/840748721","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":857369193,"gmtCreate":1635509166821,"gmtModify":1635509166914,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Great&nbsp;","listText":"Great&nbsp;","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/857369193","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":225,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":857387239,"gmtCreate":1635508996655,"gmtModify":1635508996784,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Yes&nbsp;","listText":"Yes&nbsp;","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/857387239","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":333,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":160355947,"gmtCreate":1623773341589,"gmtModify":1634028455933,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/160355947","repostId":"1180386317","repostType":2,"repost":{"id":"1180386317","pubTimestamp":1622616520,"share":"https://www.laohu8.com/m/news/1180386317?lang=&edition=full","pubTime":"2021-06-02 14:48","market":"us","language":"en","title":"Buy Boeing Stock Because ‘a Change Is Gonna Come’","url":"https://stock-news.laohu8.com/highlight/detail?id=1180386317","media":"Barrons","summary":"Stock in Boeing caught an upgrade Tuesday as a Wall Street analyst noted that things are looking up for the commercial aerospace giant and the industry as a whole.Cowen analyst Cai von Rumohr upgraded the shares to Buy from Hold and raised his target for the price to $290 from $240 a share. His belief that “a change is gonna come” underpins his more bullish view.The first change is air traffic. Air travel is picking up after a moribund, pandemic-affected 2020. More than1.9 million people boarded","content":"<p>Stock in Boeing caught an upgrade Tuesday as a Wall Street analyst noted that things are looking up for the commercial aerospace giant and the industry as a whole.</p>\n<p>Boeing stock (ticker: BA) was up 3% on Tuesday. </p>\n<p>Cowen analyst&nbsp;Cai von Rumohr&nbsp;upgraded the shares to Buy from Hold and raised his target for the price to $290 from $240 a share. His belief that “a change is gonna come” underpins his more bullish view.</p>\n<p>The first change is air traffic. Air travel is picking up after a moribund, pandemic-affected 2020. More than1.9 million people&nbsp;boarded planes in the U.S. on Monday, the highest level since March 2020. Over the holiday weekend, U.S. commercial air traffic was down less than 30% compared with 2019, a smaller drop than on recent weekends.</p>\n<p>More people on planes is good news for all aerospace-related stocks.</p>\n<p>Von Rumohr also sees a change coming in demand for commercial aircraft. Governments and airlines are increasingly focused on reducing emissions of carbon dioxide, and new planes emit less of the greenhouse gas, so replacement demand could rise faster than investors expect. Lower operating costs, of course, are an additional reason to replace planes.</p>\n<p>He also pointed out that the global fleet of wide-body, or twin-aisle aircraft, is older than the narrow-body aircraft in use. That makes them more likely to be replaced. A snapback in wide-body order rates has the potential to help Boeing a little more than&nbsp;Airbus&nbsp;(AIR.France) because Boeing has a bigger market share in wide-bodies. Still, any order pickup will benefit both.</p>\n<p>As air traffic returns to normal, potentially emboldening airlines to buy, von Rumohr projects Boeing will generate $21 of free cash flow per share by 2024. That cash flow supports his $290&nbsp;target price.</p>\n<p>Right now, Boeing is burning through cash because deliveries dropped dramatically amid Covid-19 lockdowns. In 2017 and 2018, before the pandemic, and before the 737 MAX jet was grounded in 2019, Boeing generated more than $20 in free cash flow per share.</p>\n<p>While the S&amp;P 500 trades for a free cash yield—essentially free cash flow divided by the stock price—of about 3%, Boeing has historically traded for a yield closer to 6%. With $21 in free cash flow and a yield of 6%, a share price of $350 is possible by 2024, offering attractive returns in coming years with shares trading at about $250.</p>\n<p>With the upgrade, 53% of analysts covering the stock rate shares at Buy. The&nbsp;average&nbsp;Buy-rating ratio for stocks in the S&amp;P 500 is about 55%.</p>\n<p>Boeing was a much more popular stock before the pandemic and the grounding of the 737 MAX jet between March 2019 and December 2020. In February 2019, more than 76% of analysts covering the company rated shares Buy. The share price was almost $400.</p>\n<p>Boeing stock rose 1% in 2019 and dropped 34% in 2020. Shares are up about 19% year to date, better than comparable gains of the overall market.</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>Buy Boeing Stock Because ‘a Change Is Gonna Come’</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\">\nBuy Boeing Stock Because ‘a Change Is Gonna Come’\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 14:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/buy-boeing-stock-cowen-rating-upgrade-51622566557?mod=hp_LEADSUPP_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stock in Boeing caught an upgrade Tuesday as a Wall Street analyst noted that things are looking up for the commercial aerospace giant and the industry as a whole.\nBoeing stock (ticker: BA) was up 3% ...</p>\n\n<a href=\"https://www.barrons.com/articles/buy-boeing-stock-cowen-rating-upgrade-51622566557?mod=hp_LEADSUPP_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BA":"波音"},"source_url":"https://www.barrons.com/articles/buy-boeing-stock-cowen-rating-upgrade-51622566557?mod=hp_LEADSUPP_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180386317","content_text":"Stock in Boeing caught an upgrade Tuesday as a Wall Street analyst noted that things are looking up for the commercial aerospace giant and the industry as a whole.\nBoeing stock (ticker: BA) was up 3% on Tuesday. \nCowen analyst Cai von Rumohr upgraded the shares to Buy from Hold and raised his target for the price to $290 from $240 a share. His belief that “a change is gonna come” underpins his more bullish view.\nThe first change is air traffic. Air travel is picking up after a moribund, pandemic-affected 2020. More than1.9 million people boarded planes in the U.S. on Monday, the highest level since March 2020. Over the holiday weekend, U.S. commercial air traffic was down less than 30% compared with 2019, a smaller drop than on recent weekends.\nMore people on planes is good news for all aerospace-related stocks.\nVon Rumohr also sees a change coming in demand for commercial aircraft. Governments and airlines are increasingly focused on reducing emissions of carbon dioxide, and new planes emit less of the greenhouse gas, so replacement demand could rise faster than investors expect. Lower operating costs, of course, are an additional reason to replace planes.\nHe also pointed out that the global fleet of wide-body, or twin-aisle aircraft, is older than the narrow-body aircraft in use. That makes them more likely to be replaced. A snapback in wide-body order rates has the potential to help Boeing a little more than Airbus (AIR.France) because Boeing has a bigger market share in wide-bodies. Still, any order pickup will benefit both.\nAs air traffic returns to normal, potentially emboldening airlines to buy, von Rumohr projects Boeing will generate $21 of free cash flow per share by 2024. That cash flow supports his $290 target price.\nRight now, Boeing is burning through cash because deliveries dropped dramatically amid Covid-19 lockdowns. In 2017 and 2018, before the pandemic, and before the 737 MAX jet was grounded in 2019, Boeing generated more than $20 in free cash flow per share.\nWhile the S&P 500 trades for a free cash yield—essentially free cash flow divided by the stock price—of about 3%, Boeing has historically traded for a yield closer to 6%. With $21 in free cash flow and a yield of 6%, a share price of $350 is possible by 2024, offering attractive returns in coming years with shares trading at about $250.\nWith the upgrade, 53% of analysts covering the stock rate shares at Buy. The average Buy-rating ratio for stocks in the S&P 500 is about 55%.\nBoeing was a much more popular stock before the pandemic and the grounding of the 737 MAX jet between March 2019 and December 2020. In February 2019, more than 76% of analysts covering the company rated shares Buy. The share price was almost $400.\nBoeing stock rose 1% in 2019 and dropped 34% in 2020. Shares are up about 19% year to date, better than comparable gains of the overall market.","news_type":1},"isVote":1,"tweetType":1,"viewCount":116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160352652,"gmtCreate":1623773328976,"gmtModify":1634028456296,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/160352652","repostId":"1146386859","repostType":2,"repost":{"id":"1146386859","pubTimestamp":1623417074,"share":"https://www.laohu8.com/m/news/1146386859?lang=&edition=full","pubTime":"2021-06-11 21:11","market":"us","language":"en","title":"NIO: Buy This Chinese EV Manufacturer While It's Still Cheap","url":"https://stock-news.laohu8.com/highlight/detail?id=1146386859","media":"seekingalpha","summary":"NIO is a dominant EV manufacturer in the electric SUV segment in China.Despite competing in the luxurious SUV segment, its cars are more affordable in comparison to the cars of its peers such as Tesla.As the Chinese EV market will continue to aggressively expand in the upcoming years, we believe that NIO has all the chances to create additional shareholder value in the future.Founded in 2014, NIO is an electric vehicle manufacturer that's headquartered in Shanghai, China. The company mostly spec","content":"<p><b>Summary</b></p>\n<ul>\n <li>NIO is a dominant EV manufacturer in the electric SUV segment in China.</li>\n <li>Despite competing in the luxurious SUV segment, its cars are more affordable in comparison to the cars of its peers such as Tesla.</li>\n <li>As the Chinese EV market will continue to aggressively expand in the upcoming years, we believe that NIO has all the chances to create additional shareholder value in the future.</li>\n</ul>\n<p>NIO(NYSE:NIO)is a dominant EV manufacturer in the electric SUV segment in China. It has been constantly increasing its deliveries every quarter, its revenues have been growing at a triple-digit rate in recent years, and despite competing in the luxurious SUV segment, its cars are more affordable in comparison to the cars of its peers such as Tesla(NASDAQ:TSLA). While NIO's stock has depreciated last month, there's every reason to believe that its growth story is far from over, as the Chinese EV market will continue to aggressively expand in the upcoming years and the penetration of electric vehicles on its roads is only going to increase. Considering this, the company has all the chances to create additional shareholder value in the long run.</p>\n<p><b>Dominating the Chinese Market</b></p>\n<p>Founded in 2014, NIO is an electric vehicle manufacturer that's headquartered in Shanghai, China. The company mostly specializes in the development of luxurious electric SUVs and just likeXPeng(XPEV), it manufactures and sells its cars online and through its showrooms across China. In addition, NIO also offers various energy-related solutions such as home charging stations, mobile charging services, and others to its customers.</p>\n<p>In recent years, the company has been aggressively growing, as the deliveries of its cars have been steadily increasing quarter after quarter, which led to the appreciation of its stock. However, due to the overall market selloff last month, NIO's stock along with stocks of other EV manufacturers such as XPeng, Tesla, and Li Auto (LI) evaporated most of its YTD gains and are currently underperforming the S&amp;P 500 Index.</p>\n<p><img src=\"https://static.tigerbbs.com/23b2ed509a529a876c423f3e9426be3f\" tg-width=\"1280\" tg-height=\"443\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Chart: Seeking Alpha</i></p>\n<p>Despite this, there's every reason to believe that NIO's stock will recover, as the company's successful performance in Q1 shows that its growth story is far from over. InQ1alone NIO beat the Street expectations by $160 million and generated $1.22 billion in revenues, which represents an increase of 481.8% Y/Y. In addition, the company's gross profit was $237.3 million, while its vehicle margin was 21.2% against -7.4% a year ago. During the period, NIO has also improved its bottom-line performance, as its net loss was only $68.8 million, and despite the chip shortages and the Chinese New Year its deliveries have also increased by 422.7% Y/Y and by 15.6% Q/Q to 20,060.</p>\n<p>One of the best things about NIO is that it already has a dominant position in the Chinese EV industry and it also has a solid balance sheet, as its cash reserves at the end of Q1stoodat $7.2 billion, while it had only $1.59 billion in long-term debt. As a result, it can easily reinvest its resources back into the business to drive growth and establish an even stronger foothold in its home market without worrying too much about the current losses.</p>\n<p>On top of that, while some might say that by trading at a price-to-salesratioof ~13x NIO is overvalued, the reality is that its momentum is not slowing down and there's every reason to believe that the growth story is far from over. Considering that even at the market cap of ~$70 billion NIO still trades below the Streetconsensusprice of $59.24 per share, it's safe to assume that the upside is still there, especially since the current forecasts suggest that the company will increase its revenues from $2.49 billion in FY20 to $8.81 billion in FY22.</p>\n<p><img src=\"https://static.tigerbbs.com/71905e5a90565b6a7e8864b3f6b0c226\" tg-width=\"883\" tg-height=\"382\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Source: Seeking Alpha</i></p>\n<p>At this stage, the major competitor of NIO's flagship SUVES8is Tesla's Model X. However, there are several reasons to believe that the ES8 is a more attractive car in comparison to the Model X, and as a result, NIO has all the opportunities to outsell its competitor in China in the long run. First of all, the ES8 has more legroom and headroom than the Model X, it also has a luxurious interior, and it comes with three different battery packages that could last from 415 kilometers to 580 kilometers on a single charge.</p>\n<p>All of the ES8 SUVs include a proprietary operating system, have advanced navigation software, and most importantly cost ~$70,000 per vehicle in China, which is below the cost of Tesla's Model X, which comes at a price tag of ~$110,000 per vehicle in the region. We believe that this pricing advantage will undoubtedly help NIO to outsell Tesla in the SUV segment, especially since its cars now could bepurchasedat a discount thanks to the new Chinese subsidy program.</p>\n<p>Another uniqueness of NIO is its battery as a service business model, which allows its customers to swap their batteries in various swapping stations around China if they don't want to charge their cars or are in a hurry. After recently deploying the second version of its Power Swap stations, the swapping of batteries is now done in under three minutes, which is the same as refueling a traditional ICE car, and a single station now could perform up to 312 battery swaps in a single day. NIO now has a network of charging stations across all of China and if the solid-state batteries won't be available by the end of the decade at scale, then the idea of swapping batteries on the go will remain a viable business model in the long run.</p>\n<p>Going forward, NIO plans to accelerate its deliveries this month in order to meet its Q2 goal of delivering 21,000 to 22,000 vehicles, which represents a growth of 103% Y/Y to 113% Y/Y and plans to generate $1.24 to $1.29 billion in revenues during the period. Despite the semiconductor shortages, NIO already managed to increase its deliveries in April and May to 7,102 vehicles and 6,711 vehicles, respectively, which represents a growth of 125% Y/Y and 95.3% Y/Y, respectively. On top of that, NIO is also on track to deliver 90,000 to 100,000 vehicles this year.</p>\n<p>Considering this, there's every reason to believe that NIO will continue to be a dominant player in the Chinese EV market and a leader of the luxury EV segment in the region. While the company doesn't have an infrastructure outside China, we don't think that's a downside at all since China is the biggest EV market in the world that's constantly growing and NIO has better chances of creating shareholder value there than abroad. For that reason, we believe that NIO's growth story is far from over and it's likely that as long as its deliveries increase with every quarter, its stock will be rising in value in the long run.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Buy This Chinese EV Manufacturer While It's Still Cheap</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: Buy This Chinese EV Manufacturer While It's Still Cheap\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4434085-nio-buy-this-chinese-ev-manufacturer-while-its-still-cheap><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nNIO is a dominant EV manufacturer in the electric SUV segment in China.\nDespite competing in the luxurious SUV segment, its cars are more affordable in comparison to the cars of its peers ...</p>\n\n<a href=\"https://seekingalpha.com/article/4434085-nio-buy-this-chinese-ev-manufacturer-while-its-still-cheap\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4434085-nio-buy-this-chinese-ev-manufacturer-while-its-still-cheap","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1146386859","content_text":"Summary\n\nNIO is a dominant EV manufacturer in the electric SUV segment in China.\nDespite competing in the luxurious SUV segment, its cars are more affordable in comparison to the cars of its peers such as Tesla.\nAs the Chinese EV market will continue to aggressively expand in the upcoming years, we believe that NIO has all the chances to create additional shareholder value in the future.\n\nNIO(NYSE:NIO)is a dominant EV manufacturer in the electric SUV segment in China. It has been constantly increasing its deliveries every quarter, its revenues have been growing at a triple-digit rate in recent years, and despite competing in the luxurious SUV segment, its cars are more affordable in comparison to the cars of its peers such as Tesla(NASDAQ:TSLA). While NIO's stock has depreciated last month, there's every reason to believe that its growth story is far from over, as the Chinese EV market will continue to aggressively expand in the upcoming years and the penetration of electric vehicles on its roads is only going to increase. Considering this, the company has all the chances to create additional shareholder value in the long run.\nDominating the Chinese Market\nFounded in 2014, NIO is an electric vehicle manufacturer that's headquartered in Shanghai, China. The company mostly specializes in the development of luxurious electric SUVs and just likeXPeng(XPEV), it manufactures and sells its cars online and through its showrooms across China. In addition, NIO also offers various energy-related solutions such as home charging stations, mobile charging services, and others to its customers.\nIn recent years, the company has been aggressively growing, as the deliveries of its cars have been steadily increasing quarter after quarter, which led to the appreciation of its stock. However, due to the overall market selloff last month, NIO's stock along with stocks of other EV manufacturers such as XPeng, Tesla, and Li Auto (LI) evaporated most of its YTD gains and are currently underperforming the S&P 500 Index.\n\nChart: Seeking Alpha\nDespite this, there's every reason to believe that NIO's stock will recover, as the company's successful performance in Q1 shows that its growth story is far from over. InQ1alone NIO beat the Street expectations by $160 million and generated $1.22 billion in revenues, which represents an increase of 481.8% Y/Y. In addition, the company's gross profit was $237.3 million, while its vehicle margin was 21.2% against -7.4% a year ago. During the period, NIO has also improved its bottom-line performance, as its net loss was only $68.8 million, and despite the chip shortages and the Chinese New Year its deliveries have also increased by 422.7% Y/Y and by 15.6% Q/Q to 20,060.\nOne of the best things about NIO is that it already has a dominant position in the Chinese EV industry and it also has a solid balance sheet, as its cash reserves at the end of Q1stoodat $7.2 billion, while it had only $1.59 billion in long-term debt. As a result, it can easily reinvest its resources back into the business to drive growth and establish an even stronger foothold in its home market without worrying too much about the current losses.\nOn top of that, while some might say that by trading at a price-to-salesratioof ~13x NIO is overvalued, the reality is that its momentum is not slowing down and there's every reason to believe that the growth story is far from over. Considering that even at the market cap of ~$70 billion NIO still trades below the Streetconsensusprice of $59.24 per share, it's safe to assume that the upside is still there, especially since the current forecasts suggest that the company will increase its revenues from $2.49 billion in FY20 to $8.81 billion in FY22.\n\nSource: Seeking Alpha\nAt this stage, the major competitor of NIO's flagship SUVES8is Tesla's Model X. However, there are several reasons to believe that the ES8 is a more attractive car in comparison to the Model X, and as a result, NIO has all the opportunities to outsell its competitor in China in the long run. First of all, the ES8 has more legroom and headroom than the Model X, it also has a luxurious interior, and it comes with three different battery packages that could last from 415 kilometers to 580 kilometers on a single charge.\nAll of the ES8 SUVs include a proprietary operating system, have advanced navigation software, and most importantly cost ~$70,000 per vehicle in China, which is below the cost of Tesla's Model X, which comes at a price tag of ~$110,000 per vehicle in the region. We believe that this pricing advantage will undoubtedly help NIO to outsell Tesla in the SUV segment, especially since its cars now could bepurchasedat a discount thanks to the new Chinese subsidy program.\nAnother uniqueness of NIO is its battery as a service business model, which allows its customers to swap their batteries in various swapping stations around China if they don't want to charge their cars or are in a hurry. After recently deploying the second version of its Power Swap stations, the swapping of batteries is now done in under three minutes, which is the same as refueling a traditional ICE car, and a single station now could perform up to 312 battery swaps in a single day. NIO now has a network of charging stations across all of China and if the solid-state batteries won't be available by the end of the decade at scale, then the idea of swapping batteries on the go will remain a viable business model in the long run.\nGoing forward, NIO plans to accelerate its deliveries this month in order to meet its Q2 goal of delivering 21,000 to 22,000 vehicles, which represents a growth of 103% Y/Y to 113% Y/Y and plans to generate $1.24 to $1.29 billion in revenues during the period. Despite the semiconductor shortages, NIO already managed to increase its deliveries in April and May to 7,102 vehicles and 6,711 vehicles, respectively, which represents a growth of 125% Y/Y and 95.3% Y/Y, respectively. On top of that, NIO is also on track to deliver 90,000 to 100,000 vehicles this year.\nConsidering this, there's every reason to believe that NIO will continue to be a dominant player in the Chinese EV market and a leader of the luxury EV segment in the region. While the company doesn't have an infrastructure outside China, we don't think that's a downside at all since China is the biggest EV market in the world that's constantly growing and NIO has better chances of creating shareholder value there than abroad. For that reason, we believe that NIO's growth story is far from over and it's likely that as long as its deliveries increase with every quarter, its stock will be rising in value in the long run.","news_type":1},"isVote":1,"tweetType":1,"viewCount":569,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160350441,"gmtCreate":1623773226783,"gmtModify":1634028460863,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/160350441","repostId":"2143578147","repostType":2,"isVote":1,"tweetType":1,"viewCount":83,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160326562,"gmtCreate":1623773140856,"gmtModify":1634028464691,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/160326562","repostId":"2143752015","repostType":2,"repost":{"id":"2143752015","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":1623768326,"share":"https://www.laohu8.com/m/news/2143752015?lang=&edition=full","pubTime":"2021-06-15 22:45","market":"us","language":"en","title":"LIVE MARKETS-New York apartment rents pop as banks dis remote work","url":"https://stock-news.laohu8.com/highlight/detail?id=2143752015","media":"Reuters","summary":"* Major U.S. stock indexes modestly red; small caps underperform   * Materials weakest major S&P sec","content":"<html><body><p>* Major U.S. stock indexes modestly red; small caps underperform</p><p>   * Materials weakest major S&amp;P sector; energy leads gainers</p><p>   * Euro STOXX 600 index up ~0.2%</p><p>   * Dollar ~flat; gold off, crude up; bitcoin down slightly</p><p>   * U.S. 10-Year Treasury yield ~1.50%</p><p>    June 15 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com</p><p>   NEW YORK APARTMENT RENTS POP AS BANKS DIS REMOTE WORK (1045 EDT/1445 GMT</p><p>   Perhaps bankers in the Big Apple didn't get the memo on remote work, or are hearing a different tune than big tech on the West Coast.</p><p>   While all gateway markets are showing signs of recovery in apartment rentals, some are recovering faster than others, with a notable difference between New York and Seattle and San Francisco, according to Yardi Matrix.</p><p>   Apartment rents increased 3.4% on a month-over-month basis in New York in May, well above the other top 30 U.S. metro areas that Yardi tracks in its National Multifamily Report.</p><p>   Seattle and San Francisco rebounded, but only at 0.2% and 0.3% growth month over month, respectively, said Yardi, which researches U.S. commercial real estate.</p><p>   The difference could be due to the type of industries in the three cities and their return-to-work plans, Yardi said.</p><p>   New York banks are requiring employees to return to the office this summer, while tech workers in Seattle and San Francisco are more likely to be able to work on a hybrid or fully remote schedule, Yardi said.</p><p>   James Gorman, chief executive at <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>   , said Monday that if most employees are not back at the bank's <a href=\"https://laohu8.com/S/MHC.AU\">Manhattan</a> headquarters in September, he will be \"very disappointed.\"  </p><p>   <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc    said last week it was opening up remote work as an option to all levels of employees across the company, starting on Tuesday, and expects to reopen all its U.S. offices by October.  </p><p>   Alphabet Inc's Google    and Microsoft Corp   , have given employees options to choose their work location and remote work preferences. </p><p>   Multifamily rents rose 2.5% year-over-year in May to almost exactly where rent growth was in March 2020 when the coronavirus pandemic hit, Yardi said.</p><p>   Rents grew $12 in May to $1,428, the largest <a href=\"https://laohu8.com/S/AONE\">one</a>-month increase in Yardi's data set history, it said.</p><p>    (Herbert Lash)    </p><p>   *****</p><p>   DATA ROUND ONE: RETAIL SALES, PPI, EMPIRE STATE (1000 EDT/1400 GMT)</p><p>   An onslaught of reports unleashed on Tuesday suggests an economy entering a new phase of recovery from the pandemic recession, with freshly-jabbed consumers leaving their houses to find inflation running hotter than the weather.     </p><p>   Sales at U.S. retailers    fell 1.3% last month according to the Commerce Department, steeper than the anticipated 0.8% drop, reversing April's upwardly-revised 0.9% gain.  </p><p>   In part, the decline reflects consumer demand pivoting back from goods to customer-facing services as more Americans are inoculated and taking advantage of lifting social distancing restrictions. </p><p>   Receipts at bars/restaurants and department stores, for example, jumped by 1.8% and 1.6%, respectively, and gasoline sales rose by 0.7%.</p><p>   On the other hand, sales of home improvement goods plunged by 5.9% and home electronics slid 3.4%.</p><p>   The overall pullback suggests a \"satiated demand for goods\" as \"higher prices weighed on consumers’ buying attitudes,\" writes Gregory Daco, chief U.S. economist at Oxford Economics.  </p><p>   \"While some will interpret this as a sign of wary households,\" Daco adds, the report signals \"ongoing demand rotation as vaccinated consumers splurge on services.</p><p>   Core retail sales, which excludes autos, gasoline, building materials and food services - and corresponds closely with the personal consumption component of GDP - dropped by 0.7%.</p><p>   A report from the Labor Department showed the producer price index (PPI)    - or the prices U.S. goods makers get for their wares at the factory loading dock - rose at a faster pace in May than analysts expected.</p><p>   Monthly headline PPI rose by 0.8%, running hotter than the 0.6% growth projected by economists.</p><p>   On an annual basis, core PPI - which strips out food, energy and trade services - accelerated to 5.3% from April's 4.6% pace.</p><p>   \"Headline, core and core ex-trade services prices are well above the 2% target,\" notes Rubeela Farooqi, chief U.S. economist at High Frequency Economics. \"However, the Fed is expected to continue to view building pressures as transient.\"</p><p>   The graphic below shows how year-over-year core PPI stacks up among other major indicators relative to the Fed's average annual 2% target:</p><p>   The demand U-turn away from goods back to services appears to be showing itself in data from the New York Fed, which showed manufacturing activity in New York State stepped on the brakes in May.</p><p>   The New York Federal Reserve's Empire State index</p><p>  plunged nearly seven points to a reading of 17.4, well below the 23 consensus.</p><p>   An Empire State number above zero signifies increased activity over the previous month.</p><p>   \"Manufacturing is doing well, but activity is no longer accelerating,\" says Ian Shepherdson, chief economist at Pantheon Macroeconomics. </p><p>   But Shepherdson outpoints unfilled orders and prices paid components \"suggests a marginal easing of supply constraints,\" a welcome development amid the ongoing demand/supply imbalance.</p><p>   But Tuesday isn't done with us. Industrial production, inventories and homebuilder sentiment remain on tap. </p><p>   Investors were taking a breather out of the starting gate, with the S&amp;P 500 and the Nasdaq slipping back from Monday's record closing highs.    </p><p>   (Stephen Culp)</p><p>   *****</p><p>   S&amp;P 500: SLEEPWALKING (0900 EDT/1300 GMT)</p><p>   The S&amp;P 500    posted another record close on Monday. While only about halfway into June, that marked its 29th record-high finish so far this year vs 33 for all of 2020.</p><p>   Despite the levitation, SPX action in many ways has grown zombie-like. Monday's range as a percentage of the prior session's close was just 0.51%. With this, nearly half of the 18 smallest daily ranges so far this year, have occurred in the past 13 trading days. For the week, the SPX is on track for its tightest range since September 22, 2017.</p><p>   Meanwhile, volatility close-to-close, on a weekly basis, has contracted to its lowest level since mid-January 2020, or roughly <a href=\"https://laohu8.com/S/AONE.U\">one</a> month ahead of the February 2020 market top:</p><p>   Implied volatility has also recently collapsed. The CBOE Volatility Index    ended last Friday at its lowest level since February 20, 2020, or one day after the SPX's February 19, 2020 peak.</p><p>   Thus, with significant event risks this week in the form of the FOMC Meeting results on Wednesday  , and a quadruple-witching Friday  , the benchmark index appears especially ripe for much more spirited action.</p><p>   It now remains to be seen whether the SPX will soon begin a well-rested sprint, or if it will be shaken from its slumber by something that goes bump in the night.</p><p>   (Terence Gabriel)</p><p>   ***** </p><p>   FOR TUESDAY'S LIVE MARKETS' POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE:  </p><p>    &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ SPX06152021     Retail sales     Inflation     Empire State    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt;</p><p>(Terence Gabriel is a Reuters market analyst. The views expressed are his own)</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>LIVE MARKETS-New York apartment rents pop as banks dis remote work</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\">\nLIVE MARKETS-New York apartment rents pop as banks dis remote work\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-15 22:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>* Major U.S. stock indexes modestly red; small caps underperform</p><p>   * Materials weakest major S&amp;P sector; energy leads gainers</p><p>   * Euro STOXX 600 index up ~0.2%</p><p>   * Dollar ~flat; gold off, crude up; bitcoin down slightly</p><p>   * U.S. 10-Year Treasury yield ~1.50%</p><p>    June 15 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com</p><p>   NEW YORK APARTMENT RENTS POP AS BANKS DIS REMOTE WORK (1045 EDT/1445 GMT</p><p>   Perhaps bankers in the Big Apple didn't get the memo on remote work, or are hearing a different tune than big tech on the West Coast.</p><p>   While all gateway markets are showing signs of recovery in apartment rentals, some are recovering faster than others, with a notable difference between New York and Seattle and San Francisco, according to Yardi Matrix.</p><p>   Apartment rents increased 3.4% on a month-over-month basis in New York in May, well above the other top 30 U.S. metro areas that Yardi tracks in its National Multifamily Report.</p><p>   Seattle and San Francisco rebounded, but only at 0.2% and 0.3% growth month over month, respectively, said Yardi, which researches U.S. commercial real estate.</p><p>   The difference could be due to the type of industries in the three cities and their return-to-work plans, Yardi said.</p><p>   New York banks are requiring employees to return to the office this summer, while tech workers in Seattle and San Francisco are more likely to be able to work on a hybrid or fully remote schedule, Yardi said.</p><p>   James Gorman, chief executive at <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>   , said Monday that if most employees are not back at the bank's <a href=\"https://laohu8.com/S/MHC.AU\">Manhattan</a> headquarters in September, he will be \"very disappointed.\"  </p><p>   <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc    said last week it was opening up remote work as an option to all levels of employees across the company, starting on Tuesday, and expects to reopen all its U.S. offices by October.  </p><p>   Alphabet Inc's Google    and Microsoft Corp   , have given employees options to choose their work location and remote work preferences. </p><p>   Multifamily rents rose 2.5% year-over-year in May to almost exactly where rent growth was in March 2020 when the coronavirus pandemic hit, Yardi said.</p><p>   Rents grew $12 in May to $1,428, the largest <a href=\"https://laohu8.com/S/AONE\">one</a>-month increase in Yardi's data set history, it said.</p><p>    (Herbert Lash)    </p><p>   *****</p><p>   DATA ROUND ONE: RETAIL SALES, PPI, EMPIRE STATE (1000 EDT/1400 GMT)</p><p>   An onslaught of reports unleashed on Tuesday suggests an economy entering a new phase of recovery from the pandemic recession, with freshly-jabbed consumers leaving their houses to find inflation running hotter than the weather.     </p><p>   Sales at U.S. retailers    fell 1.3% last month according to the Commerce Department, steeper than the anticipated 0.8% drop, reversing April's upwardly-revised 0.9% gain.  </p><p>   In part, the decline reflects consumer demand pivoting back from goods to customer-facing services as more Americans are inoculated and taking advantage of lifting social distancing restrictions. </p><p>   Receipts at bars/restaurants and department stores, for example, jumped by 1.8% and 1.6%, respectively, and gasoline sales rose by 0.7%.</p><p>   On the other hand, sales of home improvement goods plunged by 5.9% and home electronics slid 3.4%.</p><p>   The overall pullback suggests a \"satiated demand for goods\" as \"higher prices weighed on consumers’ buying attitudes,\" writes Gregory Daco, chief U.S. economist at Oxford Economics.  </p><p>   \"While some will interpret this as a sign of wary households,\" Daco adds, the report signals \"ongoing demand rotation as vaccinated consumers splurge on services.</p><p>   Core retail sales, which excludes autos, gasoline, building materials and food services - and corresponds closely with the personal consumption component of GDP - dropped by 0.7%.</p><p>   A report from the Labor Department showed the producer price index (PPI)    - or the prices U.S. goods makers get for their wares at the factory loading dock - rose at a faster pace in May than analysts expected.</p><p>   Monthly headline PPI rose by 0.8%, running hotter than the 0.6% growth projected by economists.</p><p>   On an annual basis, core PPI - which strips out food, energy and trade services - accelerated to 5.3% from April's 4.6% pace.</p><p>   \"Headline, core and core ex-trade services prices are well above the 2% target,\" notes Rubeela Farooqi, chief U.S. economist at High Frequency Economics. \"However, the Fed is expected to continue to view building pressures as transient.\"</p><p>   The graphic below shows how year-over-year core PPI stacks up among other major indicators relative to the Fed's average annual 2% target:</p><p>   The demand U-turn away from goods back to services appears to be showing itself in data from the New York Fed, which showed manufacturing activity in New York State stepped on the brakes in May.</p><p>   The New York Federal Reserve's Empire State index</p><p>  plunged nearly seven points to a reading of 17.4, well below the 23 consensus.</p><p>   An Empire State number above zero signifies increased activity over the previous month.</p><p>   \"Manufacturing is doing well, but activity is no longer accelerating,\" says Ian Shepherdson, chief economist at Pantheon Macroeconomics. </p><p>   But Shepherdson outpoints unfilled orders and prices paid components \"suggests a marginal easing of supply constraints,\" a welcome development amid the ongoing demand/supply imbalance.</p><p>   But Tuesday isn't done with us. Industrial production, inventories and homebuilder sentiment remain on tap. </p><p>   Investors were taking a breather out of the starting gate, with the S&amp;P 500 and the Nasdaq slipping back from Monday's record closing highs.    </p><p>   (Stephen Culp)</p><p>   *****</p><p>   S&amp;P 500: SLEEPWALKING (0900 EDT/1300 GMT)</p><p>   The S&amp;P 500    posted another record close on Monday. While only about halfway into June, that marked its 29th record-high finish so far this year vs 33 for all of 2020.</p><p>   Despite the levitation, SPX action in many ways has grown zombie-like. Monday's range as a percentage of the prior session's close was just 0.51%. With this, nearly half of the 18 smallest daily ranges so far this year, have occurred in the past 13 trading days. For the week, the SPX is on track for its tightest range since September 22, 2017.</p><p>   Meanwhile, volatility close-to-close, on a weekly basis, has contracted to its lowest level since mid-January 2020, or roughly <a href=\"https://laohu8.com/S/AONE.U\">one</a> month ahead of the February 2020 market top:</p><p>   Implied volatility has also recently collapsed. The CBOE Volatility Index    ended last Friday at its lowest level since February 20, 2020, or one day after the SPX's February 19, 2020 peak.</p><p>   Thus, with significant event risks this week in the form of the FOMC Meeting results on Wednesday  , and a quadruple-witching Friday  , the benchmark index appears especially ripe for much more spirited action.</p><p>   It now remains to be seen whether the SPX will soon begin a well-rested sprint, or if it will be shaken from its slumber by something that goes bump in the night.</p><p>   (Terence Gabriel)</p><p>   ***** </p><p>   FOR TUESDAY'S LIVE MARKETS' POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE:  </p><p>    &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ SPX06152021     Retail sales     Inflation     Empire State    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt;</p><p>(Terence Gabriel is a Reuters market analyst. The views expressed are his own)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","GOOGL":"谷歌A",".IXIC":"NASDAQ Composite","MSFT":"微软",".SPX":"S&P 500 Index","MS":"摩根士丹利"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143752015","content_text":"* Major U.S. stock indexes modestly red; small caps underperform   * Materials weakest major S&P sector; energy leads gainers   * Euro STOXX 600 index up ~0.2%   * Dollar ~flat; gold off, crude up; bitcoin down slightly   * U.S. 10-Year Treasury yield ~1.50%    June 15 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com   NEW YORK APARTMENT RENTS POP AS BANKS DIS REMOTE WORK (1045 EDT/1445 GMT   Perhaps bankers in the Big Apple didn't get the memo on remote work, or are hearing a different tune than big tech on the West Coast.   While all gateway markets are showing signs of recovery in apartment rentals, some are recovering faster than others, with a notable difference between New York and Seattle and San Francisco, according to Yardi Matrix.   Apartment rents increased 3.4% on a month-over-month basis in New York in May, well above the other top 30 U.S. metro areas that Yardi tracks in its National Multifamily Report.   Seattle and San Francisco rebounded, but only at 0.2% and 0.3% growth month over month, respectively, said Yardi, which researches U.S. commercial real estate.   The difference could be due to the type of industries in the three cities and their return-to-work plans, Yardi said.   New York banks are requiring employees to return to the office this summer, while tech workers in Seattle and San Francisco are more likely to be able to work on a hybrid or fully remote schedule, Yardi said.   James Gorman, chief executive at Morgan Stanley   , said Monday that if most employees are not back at the bank's Manhattan headquarters in September, he will be \"very disappointed.\"   Facebook Inc    said last week it was opening up remote work as an option to all levels of employees across the company, starting on Tuesday, and expects to reopen all its U.S. offices by October.     Alphabet Inc's Google    and Microsoft Corp   , have given employees options to choose their work location and remote work preferences.    Multifamily rents rose 2.5% year-over-year in May to almost exactly where rent growth was in March 2020 when the coronavirus pandemic hit, Yardi said.   Rents grew $12 in May to $1,428, the largest one-month increase in Yardi's data set history, it said.    (Herbert Lash)       *****   DATA ROUND ONE: RETAIL SALES, PPI, EMPIRE STATE (1000 EDT/1400 GMT)   An onslaught of reports unleashed on Tuesday suggests an economy entering a new phase of recovery from the pandemic recession, with freshly-jabbed consumers leaving their houses to find inflation running hotter than the weather.        Sales at U.S. retailers    fell 1.3% last month according to the Commerce Department, steeper than the anticipated 0.8% drop, reversing April's upwardly-revised 0.9% gain.     In part, the decline reflects consumer demand pivoting back from goods to customer-facing services as more Americans are inoculated and taking advantage of lifting social distancing restrictions.    Receipts at bars/restaurants and department stores, for example, jumped by 1.8% and 1.6%, respectively, and gasoline sales rose by 0.7%.   On the other hand, sales of home improvement goods plunged by 5.9% and home electronics slid 3.4%.   The overall pullback suggests a \"satiated demand for goods\" as \"higher prices weighed on consumers’ buying attitudes,\" writes Gregory Daco, chief U.S. economist at Oxford Economics.     \"While some will interpret this as a sign of wary households,\" Daco adds, the report signals \"ongoing demand rotation as vaccinated consumers splurge on services.   Core retail sales, which excludes autos, gasoline, building materials and food services - and corresponds closely with the personal consumption component of GDP - dropped by 0.7%.   A report from the Labor Department showed the producer price index (PPI)    - or the prices U.S. goods makers get for their wares at the factory loading dock - rose at a faster pace in May than analysts expected.   Monthly headline PPI rose by 0.8%, running hotter than the 0.6% growth projected by economists.   On an annual basis, core PPI - which strips out food, energy and trade services - accelerated to 5.3% from April's 4.6% pace.   \"Headline, core and core ex-trade services prices are well above the 2% target,\" notes Rubeela Farooqi, chief U.S. economist at High Frequency Economics. \"However, the Fed is expected to continue to view building pressures as transient.\"   The graphic below shows how year-over-year core PPI stacks up among other major indicators relative to the Fed's average annual 2% target:   The demand U-turn away from goods back to services appears to be showing itself in data from the New York Fed, which showed manufacturing activity in New York State stepped on the brakes in May.   The New York Federal Reserve's Empire State index  plunged nearly seven points to a reading of 17.4, well below the 23 consensus.   An Empire State number above zero signifies increased activity over the previous month.   \"Manufacturing is doing well, but activity is no longer accelerating,\" says Ian Shepherdson, chief economist at Pantheon Macroeconomics.    But Shepherdson outpoints unfilled orders and prices paid components \"suggests a marginal easing of supply constraints,\" a welcome development amid the ongoing demand/supply imbalance.   But Tuesday isn't done with us. Industrial production, inventories and homebuilder sentiment remain on tap.    Investors were taking a breather out of the starting gate, with the S&P 500 and the Nasdaq slipping back from Monday's record closing highs.       (Stephen Culp)   *****   S&P 500: SLEEPWALKING (0900 EDT/1300 GMT)   The S&P 500    posted another record close on Monday. While only about halfway into June, that marked its 29th record-high finish so far this year vs 33 for all of 2020.   Despite the levitation, SPX action in many ways has grown zombie-like. Monday's range as a percentage of the prior session's close was just 0.51%. With this, nearly half of the 18 smallest daily ranges so far this year, have occurred in the past 13 trading days. For the week, the SPX is on track for its tightest range since September 22, 2017.   Meanwhile, volatility close-to-close, on a weekly basis, has contracted to its lowest level since mid-January 2020, or roughly one month ahead of the February 2020 market top:   Implied volatility has also recently collapsed. The CBOE Volatility Index    ended last Friday at its lowest level since February 20, 2020, or one day after the SPX's February 19, 2020 peak.   Thus, with significant event risks this week in the form of the FOMC Meeting results on Wednesday  , and a quadruple-witching Friday  , the benchmark index appears especially ripe for much more spirited action.   It now remains to be seen whether the SPX will soon begin a well-rested sprint, or if it will be shaken from its slumber by something that goes bump in the night.   (Terence Gabriel)   *****    FOR TUESDAY'S LIVE MARKETS' POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE:      <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ SPX06152021     Retail sales     Inflation     Empire State       ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>(Terence Gabriel is a Reuters market analyst. The views expressed are his own)","news_type":1},"isVote":1,"tweetType":1,"viewCount":163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184192614,"gmtCreate":1623687447338,"gmtModify":1634030026649,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/184192614","repostId":"2143738880","repostType":2,"repost":{"id":"2143738880","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":1623683884,"share":"https://www.laohu8.com/m/news/2143738880?lang=&edition=full","pubTime":"2021-06-14 23:18","market":"us","language":"en","title":"BRIEF-Microsoft Submits Comments To SEC On Climate Change Disclosure","url":"https://stock-news.laohu8.com/highlight/detail?id=2143738880","media":"Reuters","summary":"June 14 (Reuters) - Microsoft Corp   :   * MICROSOFT SUBMITS COMMENTS TO SEC ON CLIMATE CHANGE DISCL","content":"<html><body><p>June 14 (Reuters) - Microsoft Corp   :</p><p>   * MICROSOFT SUBMITS COMMENTS TO SEC ON CLIMATE CHANGE DISCLOSURE</p><p>   * MICROSOFT PRESIDENT SAYS \"BELIEVE IT WILL BE CRITICAL FOR THE SEC TO HAVE A COMMON AND WELL-DEFINED FRAMEWORK FOR CLIMATE CHANGE-RELATED METRICS AND METHODOLOGIES\"</p><p>Source text: () Further company coverage:   </p><p> ((Reuters.Briefs@thomsonreuters.com;))</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BRIEF-Microsoft Submits Comments To SEC On Climate Change Disclosure</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\">\nBRIEF-Microsoft Submits Comments To SEC On Climate Change Disclosure\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-14 23:18</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>June 14 (Reuters) - Microsoft Corp   :</p><p>   * MICROSOFT SUBMITS COMMENTS TO SEC ON CLIMATE CHANGE DISCLOSURE</p><p>   * MICROSOFT PRESIDENT SAYS \"BELIEVE IT WILL BE CRITICAL FOR THE SEC TO HAVE A COMMON AND WELL-DEFINED FRAMEWORK FOR CLIMATE CHANGE-RELATED METRICS AND METHODOLOGIES\"</p><p>Source text: () Further company coverage:   </p><p> ((Reuters.Briefs@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143738880","content_text":"June 14 (Reuters) - Microsoft Corp   :   * MICROSOFT SUBMITS COMMENTS TO SEC ON CLIMATE CHANGE DISCLOSURE   * MICROSOFT PRESIDENT SAYS \"BELIEVE IT WILL BE CRITICAL FOR THE SEC TO HAVE A COMMON AND WELL-DEFINED FRAMEWORK FOR CLIMATE CHANGE-RELATED METRICS AND METHODOLOGIES\"Source text: () Further company coverage:    ((Reuters.Briefs@thomsonreuters.com;))","news_type":1},"isVote":1,"tweetType":1,"viewCount":165,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184192069,"gmtCreate":1623687435051,"gmtModify":1634030027011,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/184192069","repostId":"2143738600","repostType":2,"repost":{"id":"2143738600","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":1623686955,"share":"https://www.laohu8.com/m/news/2143738600?lang=&edition=full","pubTime":"2021-06-15 00:09","market":"sh","language":"en","title":"LIVE MARKETS-Real estate's big start looks to get even better -MS","url":"https://stock-news.laohu8.com/highlight/detail?id=2143738600","media":"Reuters","summary":"* S&P 500 off ~0.2%, Dow down ~0.7%, Nasdaq rises ~0.4%   * Materials weakest major S&P sector; tech","content":"<html><body><p>* S&amp;P 500 off ~0.2%, Dow down ~0.7%, Nasdaq rises ~0.4%</p><p>   * Materials weakest major S&amp;P sector; tech leads gainers</p><p>   * Dollar ~flat; gold down, crude up; bitcoin up ~4%</p><p>   * U.S. 10-Year Treasury yield ~1.49%</p><p>    June 14 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com </p><p>   REAL ESTATE'S BIG START LOOKS TO GET EVEN BETTER -MS (1208 EDT/1608 GMT)</p><p>   Real estate investment trusts are easily off to their best year ever, up about 26% so far in 2021, a sign there's more upside to come as strong starts to REITs historically beget even stronger full-year performance, <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> <a href=\"https://laohu8.com/S/MS\">$(MS)$</a> said on Monday.</p><p>   Past years with a good jump through mid-June that ended even better, ranked according to gains, were 2019, with an 18.7% start that ended up 25.8%; 2014 with 15.9% ending at 30.4%; 2010 with 12.9% ending at 28.5% and 2003, with 16.1% ending at 36.7%.</p><p>   Morgan Stanley said it's important not to forget that last year was <a href=\"https://laohu8.com/S/AONE\">one</a> of the worst ever for REITs, and that while absolute valuations look rich, the real estate sector    still screens as attractive to the broader market.</p><p>   REITs rose for the fourth week in a row last week with a total return of more than 3%, outperforming the S&amp;P 500    by 259 basis points for the fifth week in a row and the 14th time this year, Morgan Stanley said.</p><p>   Real estate was the best of the 11 sub-sectors week over week, up 2% versus a 0.4% gain for the S&amp;P 500 and is now the third-best performing subsector year-to-date, behind a 47.8% gain in energy   , and 28.0% rise in financials   .</p><p>   The Green Street Commercial Property Price Index increased 4.4% in May, with prices for every property type in the index rising. The index is now only 1% below pre-COVID levels. </p><p>   (Herbert Lash) </p><p>   *****</p><p>   STOXX 600: WHAT LURKS BENEATH RECORD HIGHS (1146 EDT/1546 GMT)</p><p>   Looking at the main European benchmarks at the close, <a href=\"https://laohu8.com/S/AONE.U\">one</a> would be tempted to paint a very positive picture of Europe Inc on this fine day of June 14 2021. </p><p>   The STOXX 600 and Frankfurt's DAX reached another record high, Paris CAC 40 is partying like it's 2000. </p><p>   In London, the FTSE 100 is getting very close to reclaiming its pre-pandemic highs but there's a lot of grim price action taking place nonetheless due to COVID-19 again. </p><p>   The Travel and leisure in the UK and by extension in Europe didn't have a pleasant session. </p><p>   Britain's Boris Johnson is now widely expected to delay by a few weeks the planned easing of COVID-19 restrictions due to the exponential rise of Delta variant infections.</p><p>   And while the big macro picture isn't expected to change much, some sectors will be severely hit.</p><p>   \"It's just four weeks, but for some businesses it will be four weeks too many especially as there are no guarantees 19 July will really bring an end to restrictions\", wrote Danni Hewson, an analyst at AJ Bell.  </p><p>   \"There are many reasons to delay, but delay will bring hardship for some, ruined plans for others and the end of the line for a few\".</p><p>   On the FTSE 250 mid cap index, Restaurant Group, which owns Wagamama restaurants, fell close to 5% while pub operator Wetherspoon fell over 3%. </p><p>   Take a look here at the European Travel and Leisure sector. As you see UK airlines and entertaining groups are the hardest hit: </p><p>   While the delay in reopening could be seen as a simple setback, there are growing fears that continental Europe could face a similar wave of Delta variant infections at the autumn, with another potential hit to the sector.</p><p>   (Julien Ponthus) </p><p>   *****</p><p>   THE SPREE IS ON: CONSUMERS ARE JABBED, FLUSH AND READY TO MINGLE (1102 EDT/1502 GMT)</p><p>   Having spent over a year walking through the valley of the shadow of COVID, the U.S. economy is fast approaching its pre-pandemic 'normal.' </p><p>   In fact, it's precisely 94.6% of normal, according to Oxford Economics' most recent Recovery Tracker, in which the demand component jumped above levels seen on January 2020, when the coronavirus was still a distant threat. </p><p>   \"With two-thirds of adults having received one vaccine dose, restaurant bookings neared pre-pandemic levels, the number of flights rose firmly, and credit card spending heated up,\" writes Gregory Daco, chief U.S. economist at Oxford Economics. </p><p>   For a Reuters interactive graphic on worldwide vaccine progress and availability, click here </p><p>   By all appearances, that \"pent-up\" demand analysts have been promising is well afoot as consumers economically re-engage, their wallets fattened with stimulus and savings.</p><p>   Just how fat are those wallets? </p><p>   Many economists view the saving rate - the difference between disposable income and personal outlays - as a barometer of consumer expectations. While the saving rate has come down since its April 2020 peak of 33.7%, at 14.9% it remains elevated. And UMich's consumer expectations index is on an upward trend.</p><p>   At the same time, consumers have been paying down their credit cards. Total outstanding revolving credit is down 12.2% to dollar amount not seen in over four years.</p><p>   The rise in restaurant bookings to which Daco refers is evident in the 0.6% growth in the \"food away from home\" segment of May's CPI report, which increased at double the rate of \"food at home,\" and suggests that demand for a table for two is steadily growing.</p><p>   Retail sales data shows that in April, retail receipts at dining and drinking establishments were just 2.2% below pre-pandemic levels, and if the trend has continued through May and into June, that gap has since been closed.</p><p>   The Transportation Safety Administration (TSA) provides perhaps the clearest picture of economic re-engagement. Its data is fresh (the most recent data point is yesterday), and it shows the number of passengers to remove their shoes and empty their pockets at airport security is back to where it was before COVID grounded the commercial airline industry.</p><p>   Airline stocks   , however, still have some altitude to recover.</p><p>   (Stephen Culp)</p><p>   *****</p><p>   MAJOR U.S. INDEXES MIXED; FOCUS TURNS TO FED (1013 EDT/1413 GMT)</p><p>   Major U.S. indexes are mixed with just modest changes in early trade Monday. This as the focus turns to this week's Federal Reserve meeting, where the central bank is expected to maintain its accommodative stance on monetary policy.    This week also brings a quadruple-witching on Friday, when stock index futures, stock index options, stock options, and single stock futures expire simultaneously.</p><p>   Ahead of these events, volatility measures have either been contracting, or remain moribund. In fact, the CBOE Volatility index    ended Friday at its lowest level since February 20, 2020, which was one day after the S&amp;P 500's February 19, 2020 top, and ahead of the market's swoon into its March 2020 lows.  </p><p>   With Monday's mixed action so far, the VIX is rising slightly and most major S&amp;P 500 sectors are red. That said, growth    is outperforming value   . The IGX/IVX ratio is now hitting a more than 1-month high.</p><p>   Here is where markets stand in early trade:</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   TAPERING PLAYBOOK (0934 EDT/1334 GMT) </p><p>   With less than 24 hours left before the Fed kicks off its June policy meeting, markets look to be fairly relaxed about the impact of any move by the U.S. central bank to start normalizing policy.</p><p>   Reflecting the easy mood is JPMorgan who says the upcoming start to the tapering process \"is unlikely to hurt our bullish view on DM equities for 2H\".</p><p>   Part of this optimism is derived after looking at market moves during the latest bond tapering episode back in 2013.</p><p>   Here's a summary of what happened then, courtesy of Mislav Matejka, strategist at the U.S. investment bank:</p><p>   1. Developed Market equities weathered the process very well, post the small initial wobble. In contrast, EM equities fared relatively poorly</p><p>   2. Bond yields were subdued ahead of the tapering announcement, and moved significantly higher in its aftermath, but, interestingly, peaked out once the actual tapering was implemented</p><p>   3. Ahead of the tapering announcement, internals had a marginal tilt towards Cyclicals vs Defensives. From the tapering announcement to actual implementation, Cyclicals performed very strongly vs Defensives. Post the start of tapering, over the ensuing 6-12 months, the leadership turned decisively more defensive.    </p><p>    (Danilo Masoni)</p><p>   ****    </p><p>   BREXIT: THE SAUSAGE AND THE POUND (0923 EDT/1323 GMT) </p><p>   Among the key takeaways of the G7 summit in Cornwall over the weekend, one had little to do with COVID-19, the fight against climate change or the tensions brewing with Russia and China.</p><p>   \"The meeting reminded us that Brexit never goes away\", writes Paul Donovan, chief economist at UBS GWM, who's been  referring to the UK's exit from the European Union as a \"interminably tedious\" issue for some years now. </p><p>   The current \"sausage war\" about checks on chilled meats moving from the island of Great Britain to Northern Ireland is another example of how Brexit is so full of surprises and provides endless news cycles. </p><p>   \"Everything has an end but Brexit\" was the headline of the daily currency briefing of the FX team at Commerzbank which looked at how the sausage war could impact the pound. </p><p>   \"If the EU was to become more concrete on its threats in the next few days Sterling would record further losses\", they argued. </p><p>   Another harsh headline came from George Lagarias, chief economist at Mazars, who issued a note on the \"The forever-war that is Brexit\". </p><p>   Lagarias, just as the Commerzbank analysts, also focused on how the risk of a trade war could weigh on the pound. </p><p>   \"We wouldn’t be too surprised if investors question whether the pound, which is still near post-Brexit highs, is fairly valued, especially as other countries have caught up on vaccinations\". </p><p>   There is a sense across pundits that finding an acceptable modus operandi for Northern Ireland is unlikely at the moment and that EU-UK tensions is just part of the new Brexit normal.</p><p>   \"Johnson is stuck in his ultimately unresolvable, yet consciously self-inflicted, dilemma of wanting to have his cake and eat it too vis-à-vis the EU\", wrote  Erik F. Nielsen, Group Chief Economist at UniCredit. </p><p>   In the meantime, it's fair to say that even with the prospect of a further delay to the reopening of the British economy, investors are not frantically selling sterling to buy continental sausages.</p><p>   Cable is up 0.02% at the moment and the euro is up a mere 0.08% against the pound which has been doing quite all right lately thank you very much: </p><p>   Here's some reading on the issue: </p><p>   EU and UK's 'sausage war' sizzles at G7 as Macron and Johnson spar   </p><p>   Ex-EU Brexit negotiator Barnier: UK reputation at stake in Brexit row  </p><p>   Brexit tensions are a test for Europe, says French minister  </p><p>   (Julien Ponthus) </p><p>   *****</p><p>   NASDAQ COMPOSITE: RENEWED VIGOR (0900 EDT/1300 GMT)</p><p>   The Nasdaq Composite    ended Friday within 0.5% of its April 26 record close and 1% from its April 29 record intraday high.  </p><p>   Meanwhile, one measure of the Nasdaq's internal strength has already been hitting fresh record highs:</p><p>   Nasdaq's cumulative net new highs (NNH)    (running sum of new highs - new lows), on a weekly basis, bottomed in early April 2020, and has been trending up, above its 12-week moving average <a href=\"https://laohu8.com/S/WMA.AU\">$(WMA.AU)$</a>, for 55 straight weeks. The measure ended Friday at an all-time high of just over 178.5k vs its 12-WMA at 175.6k.</p><p>   Looking back over the past 6 years or so, periods when cumulative weekly NNHs were above its 12-WMA have coincided with Nasdaq strength. Conversely, periods when cumulative NNHs were below the 12-WMA have occurred amid Nasdaq instability.</p><p>   More recently, since its February 12 peak, which also coincided with the Composite's weekly closing high, the spread between the measure and its 12-WMA had been sharply deteriorating, underscoring waning upside momentum.</p><p>   However, in the wake of a near 5%-IXIC sell off from February 12 to May 21, the spread bottomed ahead of its zero line, and has now widened for 3 straight weeks.  </p><p>   As long as this new widening trend remains in force, the Composite's renewed vigor may have legs.   </p><p>    (Terence Gabriel)</p><p>   *****</p><p>   FOR MONDAY'S LIVE MARKETS' POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE:  </p><p>    &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ IXIC06142021     sausage     Stocks in 2013     Earlytrade06142021     Consumer expectations, saving rate, outstanding credit     Dining out and eating in     Airlines and TSA throughput     leisure    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt;</p><p>(Terence Gabriel is a Reuters market analyst. The views expressed are his own)</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>LIVE MARKETS-Real estate's big start looks to get even better -MS</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\">\nLIVE MARKETS-Real estate's big start looks to get even better -MS\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-15 00:09</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>* S&amp;P 500 off ~0.2%, Dow down ~0.7%, Nasdaq rises ~0.4%</p><p>   * Materials weakest major S&amp;P sector; tech leads gainers</p><p>   * Dollar ~flat; gold down, crude up; bitcoin up ~4%</p><p>   * U.S. 10-Year Treasury yield ~1.49%</p><p>    June 14 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com </p><p>   REAL ESTATE'S BIG START LOOKS TO GET EVEN BETTER -MS (1208 EDT/1608 GMT)</p><p>   Real estate investment trusts are easily off to their best year ever, up about 26% so far in 2021, a sign there's more upside to come as strong starts to REITs historically beget even stronger full-year performance, <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> <a href=\"https://laohu8.com/S/MS\">$(MS)$</a> said on Monday.</p><p>   Past years with a good jump through mid-June that ended even better, ranked according to gains, were 2019, with an 18.7% start that ended up 25.8%; 2014 with 15.9% ending at 30.4%; 2010 with 12.9% ending at 28.5% and 2003, with 16.1% ending at 36.7%.</p><p>   Morgan Stanley said it's important not to forget that last year was <a href=\"https://laohu8.com/S/AONE\">one</a> of the worst ever for REITs, and that while absolute valuations look rich, the real estate sector    still screens as attractive to the broader market.</p><p>   REITs rose for the fourth week in a row last week with a total return of more than 3%, outperforming the S&amp;P 500    by 259 basis points for the fifth week in a row and the 14th time this year, Morgan Stanley said.</p><p>   Real estate was the best of the 11 sub-sectors week over week, up 2% versus a 0.4% gain for the S&amp;P 500 and is now the third-best performing subsector year-to-date, behind a 47.8% gain in energy   , and 28.0% rise in financials   .</p><p>   The Green Street Commercial Property Price Index increased 4.4% in May, with prices for every property type in the index rising. The index is now only 1% below pre-COVID levels. </p><p>   (Herbert Lash) </p><p>   *****</p><p>   STOXX 600: WHAT LURKS BENEATH RECORD HIGHS (1146 EDT/1546 GMT)</p><p>   Looking at the main European benchmarks at the close, <a href=\"https://laohu8.com/S/AONE.U\">one</a> would be tempted to paint a very positive picture of Europe Inc on this fine day of June 14 2021. </p><p>   The STOXX 600 and Frankfurt's DAX reached another record high, Paris CAC 40 is partying like it's 2000. </p><p>   In London, the FTSE 100 is getting very close to reclaiming its pre-pandemic highs but there's a lot of grim price action taking place nonetheless due to COVID-19 again. </p><p>   The Travel and leisure in the UK and by extension in Europe didn't have a pleasant session. </p><p>   Britain's Boris Johnson is now widely expected to delay by a few weeks the planned easing of COVID-19 restrictions due to the exponential rise of Delta variant infections.</p><p>   And while the big macro picture isn't expected to change much, some sectors will be severely hit.</p><p>   \"It's just four weeks, but for some businesses it will be four weeks too many especially as there are no guarantees 19 July will really bring an end to restrictions\", wrote Danni Hewson, an analyst at AJ Bell.  </p><p>   \"There are many reasons to delay, but delay will bring hardship for some, ruined plans for others and the end of the line for a few\".</p><p>   On the FTSE 250 mid cap index, Restaurant Group, which owns Wagamama restaurants, fell close to 5% while pub operator Wetherspoon fell over 3%. </p><p>   Take a look here at the European Travel and Leisure sector. As you see UK airlines and entertaining groups are the hardest hit: </p><p>   While the delay in reopening could be seen as a simple setback, there are growing fears that continental Europe could face a similar wave of Delta variant infections at the autumn, with another potential hit to the sector.</p><p>   (Julien Ponthus) </p><p>   *****</p><p>   THE SPREE IS ON: CONSUMERS ARE JABBED, FLUSH AND READY TO MINGLE (1102 EDT/1502 GMT)</p><p>   Having spent over a year walking through the valley of the shadow of COVID, the U.S. economy is fast approaching its pre-pandemic 'normal.' </p><p>   In fact, it's precisely 94.6% of normal, according to Oxford Economics' most recent Recovery Tracker, in which the demand component jumped above levels seen on January 2020, when the coronavirus was still a distant threat. </p><p>   \"With two-thirds of adults having received one vaccine dose, restaurant bookings neared pre-pandemic levels, the number of flights rose firmly, and credit card spending heated up,\" writes Gregory Daco, chief U.S. economist at Oxford Economics. </p><p>   For a Reuters interactive graphic on worldwide vaccine progress and availability, click here </p><p>   By all appearances, that \"pent-up\" demand analysts have been promising is well afoot as consumers economically re-engage, their wallets fattened with stimulus and savings.</p><p>   Just how fat are those wallets? </p><p>   Many economists view the saving rate - the difference between disposable income and personal outlays - as a barometer of consumer expectations. While the saving rate has come down since its April 2020 peak of 33.7%, at 14.9% it remains elevated. And UMich's consumer expectations index is on an upward trend.</p><p>   At the same time, consumers have been paying down their credit cards. Total outstanding revolving credit is down 12.2% to dollar amount not seen in over four years.</p><p>   The rise in restaurant bookings to which Daco refers is evident in the 0.6% growth in the \"food away from home\" segment of May's CPI report, which increased at double the rate of \"food at home,\" and suggests that demand for a table for two is steadily growing.</p><p>   Retail sales data shows that in April, retail receipts at dining and drinking establishments were just 2.2% below pre-pandemic levels, and if the trend has continued through May and into June, that gap has since been closed.</p><p>   The Transportation Safety Administration (TSA) provides perhaps the clearest picture of economic re-engagement. Its data is fresh (the most recent data point is yesterday), and it shows the number of passengers to remove their shoes and empty their pockets at airport security is back to where it was before COVID grounded the commercial airline industry.</p><p>   Airline stocks   , however, still have some altitude to recover.</p><p>   (Stephen Culp)</p><p>   *****</p><p>   MAJOR U.S. INDEXES MIXED; FOCUS TURNS TO FED (1013 EDT/1413 GMT)</p><p>   Major U.S. indexes are mixed with just modest changes in early trade Monday. This as the focus turns to this week's Federal Reserve meeting, where the central bank is expected to maintain its accommodative stance on monetary policy.    This week also brings a quadruple-witching on Friday, when stock index futures, stock index options, stock options, and single stock futures expire simultaneously.</p><p>   Ahead of these events, volatility measures have either been contracting, or remain moribund. In fact, the CBOE Volatility index    ended Friday at its lowest level since February 20, 2020, which was one day after the S&amp;P 500's February 19, 2020 top, and ahead of the market's swoon into its March 2020 lows.  </p><p>   With Monday's mixed action so far, the VIX is rising slightly and most major S&amp;P 500 sectors are red. That said, growth    is outperforming value   . The IGX/IVX ratio is now hitting a more than 1-month high.</p><p>   Here is where markets stand in early trade:</p><p>   (Terence Gabriel)</p><p>   *****</p><p>   TAPERING PLAYBOOK (0934 EDT/1334 GMT) </p><p>   With less than 24 hours left before the Fed kicks off its June policy meeting, markets look to be fairly relaxed about the impact of any move by the U.S. central bank to start normalizing policy.</p><p>   Reflecting the easy mood is JPMorgan who says the upcoming start to the tapering process \"is unlikely to hurt our bullish view on DM equities for 2H\".</p><p>   Part of this optimism is derived after looking at market moves during the latest bond tapering episode back in 2013.</p><p>   Here's a summary of what happened then, courtesy of Mislav Matejka, strategist at the U.S. investment bank:</p><p>   1. Developed Market equities weathered the process very well, post the small initial wobble. In contrast, EM equities fared relatively poorly</p><p>   2. Bond yields were subdued ahead of the tapering announcement, and moved significantly higher in its aftermath, but, interestingly, peaked out once the actual tapering was implemented</p><p>   3. Ahead of the tapering announcement, internals had a marginal tilt towards Cyclicals vs Defensives. From the tapering announcement to actual implementation, Cyclicals performed very strongly vs Defensives. Post the start of tapering, over the ensuing 6-12 months, the leadership turned decisively more defensive.    </p><p>    (Danilo Masoni)</p><p>   ****    </p><p>   BREXIT: THE SAUSAGE AND THE POUND (0923 EDT/1323 GMT) </p><p>   Among the key takeaways of the G7 summit in Cornwall over the weekend, one had little to do with COVID-19, the fight against climate change or the tensions brewing with Russia and China.</p><p>   \"The meeting reminded us that Brexit never goes away\", writes Paul Donovan, chief economist at UBS GWM, who's been  referring to the UK's exit from the European Union as a \"interminably tedious\" issue for some years now. </p><p>   The current \"sausage war\" about checks on chilled meats moving from the island of Great Britain to Northern Ireland is another example of how Brexit is so full of surprises and provides endless news cycles. </p><p>   \"Everything has an end but Brexit\" was the headline of the daily currency briefing of the FX team at Commerzbank which looked at how the sausage war could impact the pound. </p><p>   \"If the EU was to become more concrete on its threats in the next few days Sterling would record further losses\", they argued. </p><p>   Another harsh headline came from George Lagarias, chief economist at Mazars, who issued a note on the \"The forever-war that is Brexit\". </p><p>   Lagarias, just as the Commerzbank analysts, also focused on how the risk of a trade war could weigh on the pound. </p><p>   \"We wouldn’t be too surprised if investors question whether the pound, which is still near post-Brexit highs, is fairly valued, especially as other countries have caught up on vaccinations\". </p><p>   There is a sense across pundits that finding an acceptable modus operandi for Northern Ireland is unlikely at the moment and that EU-UK tensions is just part of the new Brexit normal.</p><p>   \"Johnson is stuck in his ultimately unresolvable, yet consciously self-inflicted, dilemma of wanting to have his cake and eat it too vis-à-vis the EU\", wrote  Erik F. Nielsen, Group Chief Economist at UniCredit. </p><p>   In the meantime, it's fair to say that even with the prospect of a further delay to the reopening of the British economy, investors are not frantically selling sterling to buy continental sausages.</p><p>   Cable is up 0.02% at the moment and the euro is up a mere 0.08% against the pound which has been doing quite all right lately thank you very much: </p><p>   Here's some reading on the issue: </p><p>   EU and UK's 'sausage war' sizzles at G7 as Macron and Johnson spar   </p><p>   Ex-EU Brexit negotiator Barnier: UK reputation at stake in Brexit row  </p><p>   Brexit tensions are a test for Europe, says French minister  </p><p>   (Julien Ponthus) </p><p>   *****</p><p>   NASDAQ COMPOSITE: RENEWED VIGOR (0900 EDT/1300 GMT)</p><p>   The Nasdaq Composite    ended Friday within 0.5% of its April 26 record close and 1% from its April 29 record intraday high.  </p><p>   Meanwhile, one measure of the Nasdaq's internal strength has already been hitting fresh record highs:</p><p>   Nasdaq's cumulative net new highs (NNH)    (running sum of new highs - new lows), on a weekly basis, bottomed in early April 2020, and has been trending up, above its 12-week moving average <a href=\"https://laohu8.com/S/WMA.AU\">$(WMA.AU)$</a>, for 55 straight weeks. The measure ended Friday at an all-time high of just over 178.5k vs its 12-WMA at 175.6k.</p><p>   Looking back over the past 6 years or so, periods when cumulative weekly NNHs were above its 12-WMA have coincided with Nasdaq strength. Conversely, periods when cumulative NNHs were below the 12-WMA have occurred amid Nasdaq instability.</p><p>   More recently, since its February 12 peak, which also coincided with the Composite's weekly closing high, the spread between the measure and its 12-WMA had been sharply deteriorating, underscoring waning upside momentum.</p><p>   However, in the wake of a near 5%-IXIC sell off from February 12 to May 21, the spread bottomed ahead of its zero line, and has now widened for 3 straight weeks.  </p><p>   As long as this new widening trend remains in force, the Composite's renewed vigor may have legs.   </p><p>    (Terence Gabriel)</p><p>   *****</p><p>   FOR MONDAY'S LIVE MARKETS' POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE:  </p><p>    &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ IXIC06142021     sausage     Stocks in 2013     Earlytrade06142021     Consumer expectations, saving rate, outstanding credit     Dining out and eating in     Airlines and TSA throughput     leisure    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt;</p><p>(Terence Gabriel is a Reuters market analyst. The views expressed are his own)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143738600","content_text":"* S&P 500 off ~0.2%, Dow down ~0.7%, Nasdaq rises ~0.4%   * Materials weakest major S&P sector; tech leads gainers   * Dollar ~flat; gold down, crude up; bitcoin up ~4%   * U.S. 10-Year Treasury yield ~1.49%    June 14 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com    REAL ESTATE'S BIG START LOOKS TO GET EVEN BETTER -MS (1208 EDT/1608 GMT)   Real estate investment trusts are easily off to their best year ever, up about 26% so far in 2021, a sign there's more upside to come as strong starts to REITs historically beget even stronger full-year performance, Morgan Stanley $(MS)$ said on Monday.   Past years with a good jump through mid-June that ended even better, ranked according to gains, were 2019, with an 18.7% start that ended up 25.8%; 2014 with 15.9% ending at 30.4%; 2010 with 12.9% ending at 28.5% and 2003, with 16.1% ending at 36.7%.   Morgan Stanley said it's important not to forget that last year was one of the worst ever for REITs, and that while absolute valuations look rich, the real estate sector    still screens as attractive to the broader market.   REITs rose for the fourth week in a row last week with a total return of more than 3%, outperforming the S&P 500    by 259 basis points for the fifth week in a row and the 14th time this year, Morgan Stanley said.   Real estate was the best of the 11 sub-sectors week over week, up 2% versus a 0.4% gain for the S&P 500 and is now the third-best performing subsector year-to-date, behind a 47.8% gain in energy   , and 28.0% rise in financials   .   The Green Street Commercial Property Price Index increased 4.4% in May, with prices for every property type in the index rising. The index is now only 1% below pre-COVID levels.    (Herbert Lash)    *****   STOXX 600: WHAT LURKS BENEATH RECORD HIGHS (1146 EDT/1546 GMT)   Looking at the main European benchmarks at the close, one would be tempted to paint a very positive picture of Europe Inc on this fine day of June 14 2021.    The STOXX 600 and Frankfurt's DAX reached another record high, Paris CAC 40 is partying like it's 2000.    In London, the FTSE 100 is getting very close to reclaiming its pre-pandemic highs but there's a lot of grim price action taking place nonetheless due to COVID-19 again.    The Travel and leisure in the UK and by extension in Europe didn't have a pleasant session.    Britain's Boris Johnson is now widely expected to delay by a few weeks the planned easing of COVID-19 restrictions due to the exponential rise of Delta variant infections.   And while the big macro picture isn't expected to change much, some sectors will be severely hit.   \"It's just four weeks, but for some businesses it will be four weeks too many especially as there are no guarantees 19 July will really bring an end to restrictions\", wrote Danni Hewson, an analyst at AJ Bell.     \"There are many reasons to delay, but delay will bring hardship for some, ruined plans for others and the end of the line for a few\".   On the FTSE 250 mid cap index, Restaurant Group, which owns Wagamama restaurants, fell close to 5% while pub operator Wetherspoon fell over 3%.    Take a look here at the European Travel and Leisure sector. As you see UK airlines and entertaining groups are the hardest hit:    While the delay in reopening could be seen as a simple setback, there are growing fears that continental Europe could face a similar wave of Delta variant infections at the autumn, with another potential hit to the sector.   (Julien Ponthus)    *****   THE SPREE IS ON: CONSUMERS ARE JABBED, FLUSH AND READY TO MINGLE (1102 EDT/1502 GMT)   Having spent over a year walking through the valley of the shadow of COVID, the U.S. economy is fast approaching its pre-pandemic 'normal.'    In fact, it's precisely 94.6% of normal, according to Oxford Economics' most recent Recovery Tracker, in which the demand component jumped above levels seen on January 2020, when the coronavirus was still a distant threat.    \"With two-thirds of adults having received one vaccine dose, restaurant bookings neared pre-pandemic levels, the number of flights rose firmly, and credit card spending heated up,\" writes Gregory Daco, chief U.S. economist at Oxford Economics.    For a Reuters interactive graphic on worldwide vaccine progress and availability, click here    By all appearances, that \"pent-up\" demand analysts have been promising is well afoot as consumers economically re-engage, their wallets fattened with stimulus and savings.   Just how fat are those wallets?    Many economists view the saving rate - the difference between disposable income and personal outlays - as a barometer of consumer expectations. While the saving rate has come down since its April 2020 peak of 33.7%, at 14.9% it remains elevated. And UMich's consumer expectations index is on an upward trend.   At the same time, consumers have been paying down their credit cards. Total outstanding revolving credit is down 12.2% to dollar amount not seen in over four years.   The rise in restaurant bookings to which Daco refers is evident in the 0.6% growth in the \"food away from home\" segment of May's CPI report, which increased at double the rate of \"food at home,\" and suggests that demand for a table for two is steadily growing.   Retail sales data shows that in April, retail receipts at dining and drinking establishments were just 2.2% below pre-pandemic levels, and if the trend has continued through May and into June, that gap has since been closed.   The Transportation Safety Administration (TSA) provides perhaps the clearest picture of economic re-engagement. Its data is fresh (the most recent data point is yesterday), and it shows the number of passengers to remove their shoes and empty their pockets at airport security is back to where it was before COVID grounded the commercial airline industry.   Airline stocks   , however, still have some altitude to recover.   (Stephen Culp)   *****   MAJOR U.S. INDEXES MIXED; FOCUS TURNS TO FED (1013 EDT/1413 GMT)   Major U.S. indexes are mixed with just modest changes in early trade Monday. This as the focus turns to this week's Federal Reserve meeting, where the central bank is expected to maintain its accommodative stance on monetary policy.    This week also brings a quadruple-witching on Friday, when stock index futures, stock index options, stock options, and single stock futures expire simultaneously.   Ahead of these events, volatility measures have either been contracting, or remain moribund. In fact, the CBOE Volatility index    ended Friday at its lowest level since February 20, 2020, which was one day after the S&P 500's February 19, 2020 top, and ahead of the market's swoon into its March 2020 lows.     With Monday's mixed action so far, the VIX is rising slightly and most major S&P 500 sectors are red. That said, growth    is outperforming value   . The IGX/IVX ratio is now hitting a more than 1-month high.   Here is where markets stand in early trade:   (Terence Gabriel)   *****   TAPERING PLAYBOOK (0934 EDT/1334 GMT)    With less than 24 hours left before the Fed kicks off its June policy meeting, markets look to be fairly relaxed about the impact of any move by the U.S. central bank to start normalizing policy.   Reflecting the easy mood is JPMorgan who says the upcoming start to the tapering process \"is unlikely to hurt our bullish view on DM equities for 2H\".   Part of this optimism is derived after looking at market moves during the latest bond tapering episode back in 2013.   Here's a summary of what happened then, courtesy of Mislav Matejka, strategist at the U.S. investment bank:   1. Developed Market equities weathered the process very well, post the small initial wobble. In contrast, EM equities fared relatively poorly   2. Bond yields were subdued ahead of the tapering announcement, and moved significantly higher in its aftermath, but, interestingly, peaked out once the actual tapering was implemented   3. Ahead of the tapering announcement, internals had a marginal tilt towards Cyclicals vs Defensives. From the tapering announcement to actual implementation, Cyclicals performed very strongly vs Defensives. Post the start of tapering, over the ensuing 6-12 months, the leadership turned decisively more defensive.        (Danilo Masoni)   ****       BREXIT: THE SAUSAGE AND THE POUND (0923 EDT/1323 GMT)    Among the key takeaways of the G7 summit in Cornwall over the weekend, one had little to do with COVID-19, the fight against climate change or the tensions brewing with Russia and China.   \"The meeting reminded us that Brexit never goes away\", writes Paul Donovan, chief economist at UBS GWM, who's been  referring to the UK's exit from the European Union as a \"interminably tedious\" issue for some years now.    The current \"sausage war\" about checks on chilled meats moving from the island of Great Britain to Northern Ireland is another example of how Brexit is so full of surprises and provides endless news cycles.    \"Everything has an end but Brexit\" was the headline of the daily currency briefing of the FX team at Commerzbank which looked at how the sausage war could impact the pound.    \"If the EU was to become more concrete on its threats in the next few days Sterling would record further losses\", they argued.    Another harsh headline came from George Lagarias, chief economist at Mazars, who issued a note on the \"The forever-war that is Brexit\".    Lagarias, just as the Commerzbank analysts, also focused on how the risk of a trade war could weigh on the pound.    \"We wouldn’t be too surprised if investors question whether the pound, which is still near post-Brexit highs, is fairly valued, especially as other countries have caught up on vaccinations\".    There is a sense across pundits that finding an acceptable modus operandi for Northern Ireland is unlikely at the moment and that EU-UK tensions is just part of the new Brexit normal.   \"Johnson is stuck in his ultimately unresolvable, yet consciously self-inflicted, dilemma of wanting to have his cake and eat it too vis-à-vis the EU\", wrote  Erik F. Nielsen, Group Chief Economist at UniCredit.    In the meantime, it's fair to say that even with the prospect of a further delay to the reopening of the British economy, investors are not frantically selling sterling to buy continental sausages.   Cable is up 0.02% at the moment and the euro is up a mere 0.08% against the pound which has been doing quite all right lately thank you very much:    Here's some reading on the issue:    EU and UK's 'sausage war' sizzles at G7 as Macron and Johnson spar      Ex-EU Brexit negotiator Barnier: UK reputation at stake in Brexit row     Brexit tensions are a test for Europe, says French minister     (Julien Ponthus)    *****   NASDAQ COMPOSITE: RENEWED VIGOR (0900 EDT/1300 GMT)   The Nasdaq Composite    ended Friday within 0.5% of its April 26 record close and 1% from its April 29 record intraday high.     Meanwhile, one measure of the Nasdaq's internal strength has already been hitting fresh record highs:   Nasdaq's cumulative net new highs (NNH)    (running sum of new highs - new lows), on a weekly basis, bottomed in early April 2020, and has been trending up, above its 12-week moving average $(WMA.AU)$, for 55 straight weeks. The measure ended Friday at an all-time high of just over 178.5k vs its 12-WMA at 175.6k.   Looking back over the past 6 years or so, periods when cumulative weekly NNHs were above its 12-WMA have coincided with Nasdaq strength. Conversely, periods when cumulative NNHs were below the 12-WMA have occurred amid Nasdaq instability.   More recently, since its February 12 peak, which also coincided with the Composite's weekly closing high, the spread between the measure and its 12-WMA had been sharply deteriorating, underscoring waning upside momentum.   However, in the wake of a near 5%-IXIC sell off from February 12 to May 21, the spread bottomed ahead of its zero line, and has now widened for 3 straight weeks.     As long as this new widening trend remains in force, the Composite's renewed vigor may have legs.       (Terence Gabriel)   *****   FOR MONDAY'S LIVE MARKETS' POSTS PRIOR TO 0900 EDT/1300 GMT - CLICK HERE:      <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ IXIC06142021     sausage     Stocks in 2013     Earlytrade06142021     Consumer expectations, saving rate, outstanding credit     Dining out and eating in     Airlines and TSA throughput     leisure       ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>(Terence Gabriel is a Reuters market analyst. The views expressed are his own)","news_type":1},"isVote":1,"tweetType":1,"viewCount":300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185626028,"gmtCreate":1623647036264,"gmtModify":1634030666996,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185626028","repostId":"2143783813","repostType":2,"repost":{"id":"2143783813","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":1623537805,"share":"https://www.laohu8.com/m/news/2143783813?lang=&edition=full","pubTime":"2021-06-13 06:43","market":"us","language":"en","title":"BRIEF-U.S. CDC Says Delivered 374,397,205 Doses Of COVID-19 Vaccine As Of June 12 Versus 373,413,945 Doses Delivered As Of June 11","url":"https://stock-news.laohu8.com/highlight/detail?id=2143783813","media":"Reuters","summary":"June 12 (Reuters) -    * U.S. CDC SAYS DELIVERED 374,397,205 DOSES OF COVID-19 VACCINE AS OF JUNE 12","content":"<html><body><p>June 12 (Reuters) - </p><p>   * U.S. CDC SAYS DELIVERED 374,397,205 DOSES OF COVID-19 VACCINE AS OF JUNE 12 VERSUS 373,413,945 DOSES DELIVERED AS OF JUNE 11</p><p>   * U.S. CDC SAYS ADMINISTERED 308,112,728 DOSES OF COVID-19 VACCINE AS OF JUNE 12 VERSUS 306,509,795 DOSES ADMINISTERED AS OF JUNE 11</p><p>   * U.S. CDC SAYS 173,391,711 INDIVIDUALS HAVE RECEIVED AT LEAST ONE DOSE OF COVID-19 VACCINE AS OF JUNE 12 VERSUS 172,758,350 INDIVIDUALS AS OF JUNE 11</p><p>   * U.S. CDC SAYS 143,119,077 INDIVIDUALS HAVE BEEN FULLY VACCINATED AGAINST COVID-19 AS OF JUNE 12 VERSUS 142,095,530 INDIVIDUALS AS OF JUNE 11</p><p> Further company coverage:   </p><p> ((Reuters.Briefs@thomsonreuters.com;))</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BRIEF-U.S. CDC Says Delivered 374,397,205 Doses Of COVID-19 Vaccine As Of June 12 Versus 373,413,945 Doses Delivered As Of June 11</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\">\nBRIEF-U.S. CDC Says Delivered 374,397,205 Doses Of COVID-19 Vaccine As Of June 12 Versus 373,413,945 Doses Delivered As Of June 11\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-13 06:43</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>June 12 (Reuters) - </p><p>   * U.S. CDC SAYS DELIVERED 374,397,205 DOSES OF COVID-19 VACCINE AS OF JUNE 12 VERSUS 373,413,945 DOSES DELIVERED AS OF JUNE 11</p><p>   * U.S. CDC SAYS ADMINISTERED 308,112,728 DOSES OF COVID-19 VACCINE AS OF JUNE 12 VERSUS 306,509,795 DOSES ADMINISTERED AS OF JUNE 11</p><p>   * U.S. CDC SAYS 173,391,711 INDIVIDUALS HAVE RECEIVED AT LEAST ONE DOSE OF COVID-19 VACCINE AS OF JUNE 12 VERSUS 172,758,350 INDIVIDUALS AS OF JUNE 11</p><p>   * U.S. CDC SAYS 143,119,077 INDIVIDUALS HAVE BEEN FULLY VACCINATED AGAINST COVID-19 AS OF JUNE 12 VERSUS 142,095,530 INDIVIDUALS AS OF JUNE 11</p><p> Further company coverage:   </p><p> ((Reuters.Briefs@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PFE":"辉瑞","MRNA":"Moderna, Inc.","JNJ":"强生"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143783813","content_text":"June 12 (Reuters) -    * U.S. CDC SAYS DELIVERED 374,397,205 DOSES OF COVID-19 VACCINE AS OF JUNE 12 VERSUS 373,413,945 DOSES DELIVERED AS OF JUNE 11   * U.S. CDC SAYS ADMINISTERED 308,112,728 DOSES OF COVID-19 VACCINE AS OF JUNE 12 VERSUS 306,509,795 DOSES ADMINISTERED AS OF JUNE 11   * U.S. CDC SAYS 173,391,711 INDIVIDUALS HAVE RECEIVED AT LEAST ONE DOSE OF COVID-19 VACCINE AS OF JUNE 12 VERSUS 172,758,350 INDIVIDUALS AS OF JUNE 11   * U.S. CDC SAYS 143,119,077 INDIVIDUALS HAVE BEEN FULLY VACCINATED AGAINST COVID-19 AS OF JUNE 12 VERSUS 142,095,530 INDIVIDUALS AS OF JUNE 11 Further company coverage:    ((Reuters.Briefs@thomsonreuters.com;))","news_type":1},"isVote":1,"tweetType":1,"viewCount":199,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185628011,"gmtCreate":1623646992933,"gmtModify":1634030668222,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185628011","repostId":"2143786565","repostType":2,"repost":{"id":"2143786565","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":1623626268,"share":"https://www.laohu8.com/m/news/2143786565?lang=&edition=full","pubTime":"2021-06-14 07:17","market":"us","language":"en","title":"Spotlight on Xbox Game Pass as Microsoft showcases upcoming games","url":"https://stock-news.laohu8.com/highlight/detail?id=2143786565","media":"Reuters","summary":"STOCKHOLM, June 13  - Microsoft on Sunday showcased 30 upcoming games and said most of those titles will be available on its monthly subscription service, Xbox Game Pass.The company said it would launch new games on Game Pass every month through the end of the year, including titles such as PC strategy series \"Age of Empires IV\" and racing game \"Forza Horizon 5.\". One of Microsoft's big-ticket games, \"Halo Infinite,\" is now set for a holiday launch this year after being delayed due to the challe","content":"<p>STOCKHOLM, June 13 (Reuters) - Microsoft on Sunday showcased 30 upcoming games and said most of those titles will be available on its monthly subscription service, Xbox Game Pass.</p>\n<p>The company said it would launch&nbsp;new games on Game Pass every month through the end of the year, including titles such as PC strategy series \"Age of Empires IV\" and racing game \"Forza Horizon 5.\"</p>\n<p>One of Microsoft's big-ticket games, \"Halo Infinite,\" is now set for a holiday launch this year after being delayed due to the challenge of developers being stuck at home during coronavirus restrictions.</p>\n<p>Several of the game launches announced by Microsoft at the E3 conference came from video game publisher Bethesda, behind hits such as Fallout and Doom. Microsoft last year bought ZeniMax Media, parent company of Bethesda, for $7.5 billion.</p>\n<p>Microsoft also announced launch dates of two big-budget games, exclusive to Xbox and PC - role playing game \"Starfield\" and vampire-themed shooting game \"Redfall.\" \"Starfield\" will launch on Nov. 11, 2022 and \"Redfall\" next Summer.</p>\n<p>Both Microsoft and Sony launched their next-generation gaming devices in November last year and have seen heightened demand for the consoles as gamers stuck at home due to the pandemic snapped up the devices.</p>\n<p>Gaming analytics firm Newzoo forecasts that the global games market will generate revenue of $175.8 billion in 2021, with 2.9 billion players, and surpass $200 billion in 2023.</p>\n<p>Microsoft has also been developing its cloud gaming service to attract casual gamers and its own streaming devices.</p>\n<p>Game Pass has hundreds of games playable on Xbox consoles, Android devices and PCs with a $9.99 monthly fee.</p>\n<p>\"What makes us different from a service like Netflix is that we give players both options, a subscription package and also a full retail store,\" said Phil Spencer, head of Xbox.</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>Spotlight on Xbox Game Pass as Microsoft showcases upcoming games</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\">\nSpotlight on Xbox Game Pass as Microsoft showcases upcoming games\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-14 07:17</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>STOCKHOLM, June 13 (Reuters) - Microsoft on Sunday showcased 30 upcoming games and said most of those titles will be available on its monthly subscription service, Xbox Game Pass.</p>\n<p>The company said it would launch&nbsp;new games on Game Pass every month through the end of the year, including titles such as PC strategy series \"Age of Empires IV\" and racing game \"Forza Horizon 5.\"</p>\n<p>One of Microsoft's big-ticket games, \"Halo Infinite,\" is now set for a holiday launch this year after being delayed due to the challenge of developers being stuck at home during coronavirus restrictions.</p>\n<p>Several of the game launches announced by Microsoft at the E3 conference came from video game publisher Bethesda, behind hits such as Fallout and Doom. Microsoft last year bought ZeniMax Media, parent company of Bethesda, for $7.5 billion.</p>\n<p>Microsoft also announced launch dates of two big-budget games, exclusive to Xbox and PC - role playing game \"Starfield\" and vampire-themed shooting game \"Redfall.\" \"Starfield\" will launch on Nov. 11, 2022 and \"Redfall\" next Summer.</p>\n<p>Both Microsoft and Sony launched their next-generation gaming devices in November last year and have seen heightened demand for the consoles as gamers stuck at home due to the pandemic snapped up the devices.</p>\n<p>Gaming analytics firm Newzoo forecasts that the global games market will generate revenue of $175.8 billion in 2021, with 2.9 billion players, and surpass $200 billion in 2023.</p>\n<p>Microsoft has also been developing its cloud gaming service to attract casual gamers and its own streaming devices.</p>\n<p>Game Pass has hundreds of games playable on Xbox consoles, Android devices and PCs with a $9.99 monthly fee.</p>\n<p>\"What makes us different from a service like Netflix is that we give players both options, a subscription package and also a full retail store,\" said Phil Spencer, head of Xbox.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143786565","content_text":"STOCKHOLM, June 13 (Reuters) - Microsoft on Sunday showcased 30 upcoming games and said most of those titles will be available on its monthly subscription service, Xbox Game Pass.\nThe company said it would launch new games on Game Pass every month through the end of the year, including titles such as PC strategy series \"Age of Empires IV\" and racing game \"Forza Horizon 5.\"\nOne of Microsoft's big-ticket games, \"Halo Infinite,\" is now set for a holiday launch this year after being delayed due to the challenge of developers being stuck at home during coronavirus restrictions.\nSeveral of the game launches announced by Microsoft at the E3 conference came from video game publisher Bethesda, behind hits such as Fallout and Doom. Microsoft last year bought ZeniMax Media, parent company of Bethesda, for $7.5 billion.\nMicrosoft also announced launch dates of two big-budget games, exclusive to Xbox and PC - role playing game \"Starfield\" and vampire-themed shooting game \"Redfall.\" \"Starfield\" will launch on Nov. 11, 2022 and \"Redfall\" next Summer.\nBoth Microsoft and Sony launched their next-generation gaming devices in November last year and have seen heightened demand for the consoles as gamers stuck at home due to the pandemic snapped up the devices.\nGaming analytics firm Newzoo forecasts that the global games market will generate revenue of $175.8 billion in 2021, with 2.9 billion players, and surpass $200 billion in 2023.\nMicrosoft has also been developing its cloud gaming service to attract casual gamers and its own streaming devices.\nGame Pass has hundreds of games playable on Xbox consoles, Android devices and PCs with a $9.99 monthly fee.\n\"What makes us different from a service like Netflix is that we give players both options, a subscription package and also a full retail store,\" said Phil Spencer, head of Xbox.","news_type":1},"isVote":1,"tweetType":1,"viewCount":58,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185629577,"gmtCreate":1623646887899,"gmtModify":1634030670624,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/185629577","repostId":"1146011836","repostType":2,"repost":{"id":"1146011836","pubTimestamp":1623639735,"share":"https://www.laohu8.com/m/news/1146011836?lang=&edition=full","pubTime":"2021-06-14 11:02","market":"us","language":"en","title":"Amazon: The Virtuous Cycle At A Fair Price","url":"https://stock-news.laohu8.com/highlight/detail?id=1146011836","media":"seekingalpha","summary":"Summary\n\nAmazon's business is firing on all cylinders, giving its investors many reasons to smile.\nT","content":"<p><b>Summary</b></p>\n<ul>\n <li>Amazon's&nbsp;business is firing on all cylinders, giving its investors many reasons to smile.</li>\n <li>The company is reinforcing its moat in e-commerce, cloud services and grabbing aggressively its share in ads from Google and Facebook duopoly.</li>\n <li>A growing share of high-margin activities improves cash flow at rapid pace.</li>\n <li>At the current level, the share price represents at least 6-8% return p.a.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dfbef43d925558552ced924df58f081f\" tg-width=\"768\" tg-height=\"512\"><span>Photo by coldsnowstorm/iStock Unreleased via Getty Images</span></p>\n<p>Amazon (AMZN) is a very diversified business with many sources of revenue. Its size, strong brand, and leadership position in e-commerce and cloud services give it an immense moat. The advertisement branch makes Google and Facebook's duopoly sweat. The growth in all sectors is simply remarkable for a company of its size. It all does not leave any doubt that Amazon's future is bright.</p>\n<p>Also, the price for this outstanding business is pretty attractive. Simple and conservative estimates show a safe 6-8% return per annum. In the world of a zero interest rate, Amazon shares are a bargain.</p>\n<p><b>The Virtuous Cycle, aka Scale Economies Shared</b></p>\n<p>Almost twenty-five years ago, Jeff Bezos laid a foundation for his company. At its core lies customer-centricity. The idea is pretty simple: exceptional customer experience brings more traffic and sellers with their products. A growing platform scale lowers the prices, which improves customer experience even further. By broadening product offerings, reducing prices, improving delivery time, and selling the highest-quality services, Amazon wins customer loyalty and expands its customer base.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/33d2da72dce938108f652612d9f4b320\" tg-width=\"640\" tg-height=\"341\"><span>Source:Amazon - The Virtuous Cycle</span></p>\n<p>Putting customer experience at the center of every action combined with innovation spirit and readiness for failure has created a company that is redefining the way we shop, work, and spend our free time. Chapeau bas for management for sticking to those rules till these days, successful execution and constantly raising the bar to create more value for society.</p>\n<p><b>What do you get buying Amazon?</b></p>\n<p>All invested in Amazon know exactly why they own the shares. Leadership in life-changing trends, enormous growth, innovation, dominance, and of course huge profits. All checked. Let's put some numbers behind those buzzwords to prove it.</p>\n<p><b>E-commerce</b></p>\n<p>We start with e-commerce. This year the company is expected toincrease its US retail e-commerce market share to 40.4%. Walmart, second on the list, is going to enjoy only 7.1%. A clear sign of dominance. The sales growth is going to continue. After a Covid turbocharged 44.1% rise last year, analysts predict 15.3% in 2021. That means slowing down tothe average e-commerce growth in the US over the last decade.</p>\n<p>The international footprint is also growing nicely. In 2020, 27% of revenue came from abroad. And they are still expanding to new markets (in March 2021 they entered Poland startingamazon.pl).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad6f72d60e6af0ab7802b63bb60e04c5\" tg-width=\"640\" tg-height=\"107\"><span>Source: Amazon Annual Report 2020</span></p>\n<p>There are two trends in retail sales that are going to benefit Amazon in the coming years. First, overall consumption and spending are growing together with the economy. But most importantly, a share of e-commerce retail vs. total retail sales is going to increase.In 2020, it was already 21.3% for the USA, up from 6.4% in 2010. Still less than e.g. in China, where the National Bureau of Statistics of China estimated online retail penetration to be at 24.9% in 2020.</p>\n<p>As Jeff Bezos predicted, the virtuous cycle is self-reinforcing and attracting more and more customers and merchants to the platform every year. Last Amazon's report shows that the number of sold products increases pretty fast, so do SMBs' profits. Amazon is fueling its success by intensive investments in logistics, analysis tools, and services, which lead to growing Amazon success and so on.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b70ae811d800c6e2fcaeb619b5a50964\" tg-width=\"640\" tg-height=\"608\"><span>Source:Amazon SMB Impact Report 2020</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dfe8106bb3f81d21e177ef59cefc5888\" tg-width=\"640\" tg-height=\"709\"><span>Source: Amazon SMB Impact Report 2020</span></p>\n<p><b>AWS</b></p>\n<p>Whether it’s technology giants, television networks, banks, food manufacturers, or governments, many organizations are using AWS to develop, deploy and host applications. The biggest customers are well-known brands such asNetflix, Adobe, Apple, LinkedIn, Twitter, BBC, and many more.</p>\n<p>It is another area that has sped upbecause of the COVID-19 pandemic. Implementation of stay-at-home policies for consumers, work-from-home policies for employees generated enormous demand and caused much higher than initially expected cloud usage.</p>\n<p>Amazon invests heavily in the data centers and expands its geographical footprint. The company offers a broad and rapidly growing portfolio of cloud services. All these efforts to satisfy customers' needs have given Amazon aworldwide leadership position.</p>\n<p>Strong double-digit demand for cloud services is going to continue in the next few years. Forecasts say that in 2021 the whole segment value will reach$330bn, up 23% from 2020. AWS as a dominant force with almosta third of market sharein IaaS and PaaS will surely enjoy growing revenues and profits.</p>\n<p><b>Advertising</b></p>\n<p>Google or Facebook make money by advertising different products and services. Their algorithms are very efficient in targeting selected audience groups. They are great at defining what may be of interest for me, for you, and every single web user. But they do not have the same insights as Amazon has. Amazon knows exactly what people buy, how they buy it, and how much of it they buy. The knowledge of what movies Amazon Prime customers are watching, what music and books they consume, gives Amazon an even more complete picture of the consumer journey.</p>\n<p>Here, the trend is once again Amazon's friend. Totalad spending continues to riseyear after year at a double-digit rate. Digital ads are already a dominant form of marketing and as people have more electronic devices connected to the Internet, they continue to be the most important channel to reach customers.</p>\n<p>Amazon has been very successful in this field. The company is alreadythe third power in advertising in the USAwith 10% of the market share. They are expanding especially at Google's cost as more people search for specific products directly on Amazon's website circumventing Google's search engine. Analysts predict that both Google and Facebook are going to lose their market share in the coming years,whereas Amazon continues to grab a bigger part of the growing pie.</p>\n<p>Looking at advertising revenue (classified as \"Other\" in the annual report), we can assume that it grew at a whopping rate of 50% last year. As cloud services, it is a very profitable, high-margin activity that will nicely continue to increase Amazon's bottom line in the future.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8a8ab12e5788fda9765fbd60bf394f23\" tg-width=\"640\" tg-height=\"261\"><span>Source: Amazon Annual Report 2020</span></p>\n<p><b>Amazon Prime</b></p>\n<p>Other powerful revenue engines are subscription services i.e. Amazon Prime membership fees, video-on-demand, etc. What Amazon offers its customers is pretty unique - by subscribing they get a combination of cheaper and faster orders' delivery and access to a rich library of movies, series, and songs. And it is very affordable! Thanks to that the retention rate is very high and the user base is constantly growing, exceeding already 200 million people. And almost130 million are using the Video Prime service at least once a month. That gives Amazon Prime Video servicesecond position worldwide just behind Netflix.</p>\n<p>Again, also from this trend, Amazon is trying to make use of. The expectations are that OTT and VoD services will growbetween 14%and18% for the next 4-5 years.The acquisition of MGMand gaining such IPs like James Bond, The Silence of the Lambs, Fargo, and a few thousand others, shows that the company takes it pretty seriously and will fight for its share of the pie.</p>\n<p>Looking once more into the annual report, we may see that subscription services brought ~$25bn in FY 2020. It seems not much compared to $386bn of total revenue, but $25bn was also the total revenue of Netflix last year! And it is growing faster than Netflix revenue.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9535c8b9791a767f3e8b52754d5db4c1\" tg-width=\"640\" tg-height=\"264\"><span>Source: Amazon Annual Report 2020</span></p>\n<p><b>Others</b></p>\n<p>If it was not enough, Amazon constantly tries to revolutionize some aspects of our lives and create new expansion opportunities. It isa leader in the smart speaker market(50% of the US market). Kindle dominates the e-reader market in the USA. FireTV streams videos to millions of homes. Etc., etc.</p>\n<p>Many experimental initiatives can easily become another mega-trend and contribute even more to customer satisfaction and the company's success, e.g.:</p>\n<ul>\n <li><p>Amazon Go - cashier-free stores</p></li>\n <li><p>AI-powered home robots</p></li>\n <li><p>game streaming services</p></li>\n <li><p>investing in self-driving technology</p></li>\n <li><p>building a fleet of delivery drones, etc.</p></li>\n</ul>\n<p><b>How did the business perform?</b></p>\n<p>Amazon does not provide as detailed information about its user base asAlibaba(BABA). Investors have only vague data announced from time to time during Earnings Calls or from Letters to Shareholders. For example,in the last letter, Jeff Bezos writes that Amazon Prime has already over 200 million members.Over 75% are Americans. However, the number of active users is much higher. Already inQ2 2016, there were over 300 million active customers globally.</p>\n<p>Let's move to the financial information to see the revenue generation power of Amazon's customers. The revenue is growing consistently at a high rate. The pre-pandemic slowdown was quickly corrected last year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00ea9010cdf36960ced3316748d5b396\" tg-width=\"640\" tg-height=\"395\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>The significance of the AWS, the golden goose of Amazon, and its contribution to the revenue was also growing from 7% in 2015 to almost 12% in 2020. Disappointing is the fact that the international sales represent currently only 27% of total revenue (a drop from 33% in 2015). It reduces the diversification of revenue streams and shows that the competition abroad is strong.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8e5447ded18a889ea1ff7cdf37b342a\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>On a plus side, we can see below that all segments are growing, but international revenue is simply growing slower than sales in North America or AWS. Another small positive is the fact that international sales saw last year almost 40% jump, slightly better than the other two segments.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5550abe99358bb2a60e8552476cb096\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>Similar to revenue, the operating income made a huge jump last year as COVID hit.</p>\n<p><img src=\"https://static.tigerbbs.com/7cf5a471f3cc5f3e15ad0436cc7f9a7b\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p>\n<p>The biggest contribution to the operating income is AWS. In 2020, cloud services generated over $13bn, which represented ~60% of total profits.</p>\n<p>Source: Chart created by the author with data from annual reports</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/366bd2ee01f2a7f0fa78c25001150c99\" tg-width=\"640\" tg-height=\"397\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>North America brought around $9bn or 37% of the total operating income last year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d49e53238ae749ae5f39ca6d421dca51\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>Profits from AWS and North America used to subsidize international retail sales which only last year turned profitable. We may attribute this positive result to two factors - improving the efficiency of operation and favorable currency exchange rate last year.</p>\n<p>Let's have a look at Amazon's margins below. They are nicely trending higher almost every year. There are at least a few good reasons for that e.g. the scale of Amazon's operation, growing AWS, cash flow from Amazon Prime, and other subscription services. Margin expansion underlines the quality of the business and the good investment decisions of the management.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8e935c9bf800475aa0017d40f8fb1920\" tg-width=\"640\" tg-height=\"296\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>In annual reports, Amazon presents also an alternative way of categorizing revenue streams. The chart \"Net sales by groups of similar products and services\" summarizes this method for the last few years. In 2020, slightly over 50% was attributed to online stores. We can see that AWS, advertising, subscriptions, and 3rd party seller services are growing faster than online stores. It shows the strength and diversity of Amazon's platform. It is nicely reflected in growing margins and recurring revenue streams.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9394fd8d8fb6183d2e32bdb24c02b6f\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>The growth for all segments is very strong. I would like to underscore here one component - advertising (\"Other\" in the chart below). It is still pretty small with \"only\" ~$21bn in revenue but is growing at a staggering pace, adding another very lucrative business area to Amazon's portfolio.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a5cf6ce184acc5b763aeb00f34b69b54\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>Last but not least, the amount of free cash flow (\"FCF\") generated may show the quality of the business. It is one of the most important metrics for shareholders. FCF is used to pay dividends, repurchase shares, or for acquisitions. Amazon provides investors with three different metrics of FCF trying to adjust standard definition (FCF = Cash from Operations - Capex) to include heavy usage of finance leases used for faster expansion of AWS infrastructure and other equipment.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/66290fc24e1df8192026a2305de99933\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>The most important is the fact that all three metrics are rising. The Internet explains all of them for those interested in the nitty-gritty details of accounting.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aa13303f053af872d639e94fcfae68ca\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p><b>Valuation</b></p>\n<p>Note: I suggest subtracting 1,3% from CAGRs calculated below. 1,3% is an average shareholder dilution over the last 5 years. As long as there is no meaningful repurchase program, the dilution will continue.</p>\n<p><b>Simulation of P/EPS</b></p>\n<p>Analyst estimate is that Amazon's EPS will grow at 38% on average for the next five years. Assuming massive ratio reduction (from the current P/E=61 to P/E=18-26), we arrive at a potential return between 47% and 113% in 2026 (or 8% to 16% CAGR).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1a6f6320356bfd13c8cd1423f5c4997c\" tg-width=\"640\" tg-height=\"424\"><span>Source: Own calculation</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f7d373e66cfae1c02a39f11f735644db\" tg-width=\"640\" tg-height=\"396\"><span>Source: Own calculation</span></p>\n<p><b>DCF</b></p>\n<p>For DCF analysis I use Free Cash Flow less equipment finance leases and principal repayments of all other finance leases and financing obligations. With Amazon, this metric better presents the ability of the business to generate cash than standard FCF.</p>\n<p>I simulated much lower growth than presented in the last five years (and lower than analysts suggest). The reason is to be conservative and show likely outcomes of investing in Amazon at the current share price.</p>\n<p><b>DCF Worst-Case Scenario</b></p>\n<p>FCF growth drops gradually from 20% in 2021 to 11% in 2030. The first implication of this assumption is that the FCF in 2030 will be 4,5x higher than it is today. That would also imply that the current share price of ~$3200 will probably return around 6% annually.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/776195c42bbdbd69b1bfe5f22651ca12\" tg-width=\"640\" tg-height=\"245\"><span>Source: Own calculation</span></p>\n<p><b>DCF Best-Case Scenario</b></p>\n<p>FCF growth drops gradually from 26% in 2021 to 17% in 2030. The FCF in 2030 would be almost 8x higher. That would also mean that the current share price of ~$3200 will probably deliver a return of 8% per annum.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/93471937eb050c18cabebb3ea4d3270c\" tg-width=\"640\" tg-height=\"245\"><span>Source: Own calculation</span></p>\n<p><b>Price to Sales</b></p>\n<p>In the last few years, it was a good deal to buy AMZN when the PS ratio was at 3,3 or lower (with average PS=3,6).</p>\n<p>PS TTM is currently at 3.9. That suggests a slight overvaluation between 10-15%. PS=3,3 would represent the price of $2750 per share. Buying at an average PS=3,6 would mean waiting for the price to fall to $3000.</p>\n<p>There is also a second option: the price will move sideways for the next 1-2 quarters and let the business catch up. Looking at forecasted sales growth, it will happen sooner rather than later.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/02b247d1eaf407d6569dd5465ebf0a3b\" tg-width=\"640\" tg-height=\"581\"><span>Source:Seeking Alpha</span></p>\n<p><b>Conclusion</b></p>\n<p>2020 was for Amazon a great year. For Amazon shareholders too. Coronavirus caused a rapid acceleration in shifting the way we work, spend our free time, and buy things. It led to an explosion in revenues and profits. As a result, the share price doubled in a matter of a few months. But this is not over. Every single part of Amazon keeps growing at a high double-digit rate. And it will not stop soon.</p>\n<p>A lot of this growth is already in the share price. However, even quite conservative analysis shows that buying AMZN today may still generate at least 6-8% return p.a. in a long run. If the company continues improving efficiency, keeps innovating, and expands its portfolio of great products, the return may be even higher.</p>\n<p>To sum it up, I rate Amazon shares to be fairly valued and expect better-than-average performance.</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>Amazon: The Virtuous Cycle At A Fair Price</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: The Virtuous Cycle At A Fair Price\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 11:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4434620-amazon-the-virtuous-cycle-at-a-fair-price><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAmazon's business is firing on all cylinders, giving its investors many reasons to smile.\nThe company is reinforcing its moat in e-commerce, cloud services and grabbing aggressively its share...</p>\n\n<a href=\"https://seekingalpha.com/article/4434620-amazon-the-virtuous-cycle-at-a-fair-price\">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":"https://seekingalpha.com/article/4434620-amazon-the-virtuous-cycle-at-a-fair-price","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146011836","content_text":"Summary\n\nAmazon's business is firing on all cylinders, giving its investors many reasons to smile.\nThe company is reinforcing its moat in e-commerce, cloud services and grabbing aggressively its share in ads from Google and Facebook duopoly.\nA growing share of high-margin activities improves cash flow at rapid pace.\nAt the current level, the share price represents at least 6-8% return p.a.\n\nPhoto by coldsnowstorm/iStock Unreleased via Getty Images\nAmazon (AMZN) is a very diversified business with many sources of revenue. Its size, strong brand, and leadership position in e-commerce and cloud services give it an immense moat. The advertisement branch makes Google and Facebook's duopoly sweat. The growth in all sectors is simply remarkable for a company of its size. It all does not leave any doubt that Amazon's future is bright.\nAlso, the price for this outstanding business is pretty attractive. Simple and conservative estimates show a safe 6-8% return per annum. In the world of a zero interest rate, Amazon shares are a bargain.\nThe Virtuous Cycle, aka Scale Economies Shared\nAlmost twenty-five years ago, Jeff Bezos laid a foundation for his company. At its core lies customer-centricity. The idea is pretty simple: exceptional customer experience brings more traffic and sellers with their products. A growing platform scale lowers the prices, which improves customer experience even further. By broadening product offerings, reducing prices, improving delivery time, and selling the highest-quality services, Amazon wins customer loyalty and expands its customer base.\nSource:Amazon - The Virtuous Cycle\nPutting customer experience at the center of every action combined with innovation spirit and readiness for failure has created a company that is redefining the way we shop, work, and spend our free time. Chapeau bas for management for sticking to those rules till these days, successful execution and constantly raising the bar to create more value for society.\nWhat do you get buying Amazon?\nAll invested in Amazon know exactly why they own the shares. Leadership in life-changing trends, enormous growth, innovation, dominance, and of course huge profits. All checked. Let's put some numbers behind those buzzwords to prove it.\nE-commerce\nWe start with e-commerce. This year the company is expected toincrease its US retail e-commerce market share to 40.4%. Walmart, second on the list, is going to enjoy only 7.1%. A clear sign of dominance. The sales growth is going to continue. After a Covid turbocharged 44.1% rise last year, analysts predict 15.3% in 2021. That means slowing down tothe average e-commerce growth in the US over the last decade.\nThe international footprint is also growing nicely. In 2020, 27% of revenue came from abroad. And they are still expanding to new markets (in March 2021 they entered Poland startingamazon.pl).\nSource: Amazon Annual Report 2020\nThere are two trends in retail sales that are going to benefit Amazon in the coming years. First, overall consumption and spending are growing together with the economy. But most importantly, a share of e-commerce retail vs. total retail sales is going to increase.In 2020, it was already 21.3% for the USA, up from 6.4% in 2010. Still less than e.g. in China, where the National Bureau of Statistics of China estimated online retail penetration to be at 24.9% in 2020.\nAs Jeff Bezos predicted, the virtuous cycle is self-reinforcing and attracting more and more customers and merchants to the platform every year. Last Amazon's report shows that the number of sold products increases pretty fast, so do SMBs' profits. Amazon is fueling its success by intensive investments in logistics, analysis tools, and services, which lead to growing Amazon success and so on.\nSource:Amazon SMB Impact Report 2020\nSource: Amazon SMB Impact Report 2020\nAWS\nWhether it’s technology giants, television networks, banks, food manufacturers, or governments, many organizations are using AWS to develop, deploy and host applications. The biggest customers are well-known brands such asNetflix, Adobe, Apple, LinkedIn, Twitter, BBC, and many more.\nIt is another area that has sped upbecause of the COVID-19 pandemic. Implementation of stay-at-home policies for consumers, work-from-home policies for employees generated enormous demand and caused much higher than initially expected cloud usage.\nAmazon invests heavily in the data centers and expands its geographical footprint. The company offers a broad and rapidly growing portfolio of cloud services. All these efforts to satisfy customers' needs have given Amazon aworldwide leadership position.\nStrong double-digit demand for cloud services is going to continue in the next few years. Forecasts say that in 2021 the whole segment value will reach$330bn, up 23% from 2020. AWS as a dominant force with almosta third of market sharein IaaS and PaaS will surely enjoy growing revenues and profits.\nAdvertising\nGoogle or Facebook make money by advertising different products and services. Their algorithms are very efficient in targeting selected audience groups. They are great at defining what may be of interest for me, for you, and every single web user. But they do not have the same insights as Amazon has. Amazon knows exactly what people buy, how they buy it, and how much of it they buy. The knowledge of what movies Amazon Prime customers are watching, what music and books they consume, gives Amazon an even more complete picture of the consumer journey.\nHere, the trend is once again Amazon's friend. Totalad spending continues to riseyear after year at a double-digit rate. Digital ads are already a dominant form of marketing and as people have more electronic devices connected to the Internet, they continue to be the most important channel to reach customers.\nAmazon has been very successful in this field. The company is alreadythe third power in advertising in the USAwith 10% of the market share. They are expanding especially at Google's cost as more people search for specific products directly on Amazon's website circumventing Google's search engine. Analysts predict that both Google and Facebook are going to lose their market share in the coming years,whereas Amazon continues to grab a bigger part of the growing pie.\nLooking at advertising revenue (classified as \"Other\" in the annual report), we can assume that it grew at a whopping rate of 50% last year. As cloud services, it is a very profitable, high-margin activity that will nicely continue to increase Amazon's bottom line in the future.\nSource: Amazon Annual Report 2020\nAmazon Prime\nOther powerful revenue engines are subscription services i.e. Amazon Prime membership fees, video-on-demand, etc. What Amazon offers its customers is pretty unique - by subscribing they get a combination of cheaper and faster orders' delivery and access to a rich library of movies, series, and songs. And it is very affordable! Thanks to that the retention rate is very high and the user base is constantly growing, exceeding already 200 million people. And almost130 million are using the Video Prime service at least once a month. That gives Amazon Prime Video servicesecond position worldwide just behind Netflix.\nAgain, also from this trend, Amazon is trying to make use of. The expectations are that OTT and VoD services will growbetween 14%and18% for the next 4-5 years.The acquisition of MGMand gaining such IPs like James Bond, The Silence of the Lambs, Fargo, and a few thousand others, shows that the company takes it pretty seriously and will fight for its share of the pie.\nLooking once more into the annual report, we may see that subscription services brought ~$25bn in FY 2020. It seems not much compared to $386bn of total revenue, but $25bn was also the total revenue of Netflix last year! And it is growing faster than Netflix revenue.\nSource: Amazon Annual Report 2020\nOthers\nIf it was not enough, Amazon constantly tries to revolutionize some aspects of our lives and create new expansion opportunities. It isa leader in the smart speaker market(50% of the US market). Kindle dominates the e-reader market in the USA. FireTV streams videos to millions of homes. Etc., etc.\nMany experimental initiatives can easily become another mega-trend and contribute even more to customer satisfaction and the company's success, e.g.:\n\nAmazon Go - cashier-free stores\nAI-powered home robots\ngame streaming services\ninvesting in self-driving technology\nbuilding a fleet of delivery drones, etc.\n\nHow did the business perform?\nAmazon does not provide as detailed information about its user base asAlibaba(BABA). Investors have only vague data announced from time to time during Earnings Calls or from Letters to Shareholders. For example,in the last letter, Jeff Bezos writes that Amazon Prime has already over 200 million members.Over 75% are Americans. However, the number of active users is much higher. Already inQ2 2016, there were over 300 million active customers globally.\nLet's move to the financial information to see the revenue generation power of Amazon's customers. The revenue is growing consistently at a high rate. The pre-pandemic slowdown was quickly corrected last year.\nSource: Chart created by the author with data from annual reports\nThe significance of the AWS, the golden goose of Amazon, and its contribution to the revenue was also growing from 7% in 2015 to almost 12% in 2020. Disappointing is the fact that the international sales represent currently only 27% of total revenue (a drop from 33% in 2015). It reduces the diversification of revenue streams and shows that the competition abroad is strong.\nSource: Chart created by the author with data from annual reports\nOn a plus side, we can see below that all segments are growing, but international revenue is simply growing slower than sales in North America or AWS. Another small positive is the fact that international sales saw last year almost 40% jump, slightly better than the other two segments.\nSource: Chart created by the author with data from annual reports\nSimilar to revenue, the operating income made a huge jump last year as COVID hit.\n\nThe biggest contribution to the operating income is AWS. In 2020, cloud services generated over $13bn, which represented ~60% of total profits.\nSource: Chart created by the author with data from annual reports\nSource: Chart created by the author with data from annual reports\nNorth America brought around $9bn or 37% of the total operating income last year.\nSource: Chart created by the author with data from annual reports\nProfits from AWS and North America used to subsidize international retail sales which only last year turned profitable. We may attribute this positive result to two factors - improving the efficiency of operation and favorable currency exchange rate last year.\nLet's have a look at Amazon's margins below. They are nicely trending higher almost every year. There are at least a few good reasons for that e.g. the scale of Amazon's operation, growing AWS, cash flow from Amazon Prime, and other subscription services. Margin expansion underlines the quality of the business and the good investment decisions of the management.\nSource: Chart created by the author with data from annual reports\nIn annual reports, Amazon presents also an alternative way of categorizing revenue streams. The chart \"Net sales by groups of similar products and services\" summarizes this method for the last few years. In 2020, slightly over 50% was attributed to online stores. We can see that AWS, advertising, subscriptions, and 3rd party seller services are growing faster than online stores. It shows the strength and diversity of Amazon's platform. It is nicely reflected in growing margins and recurring revenue streams.\nSource: Chart created by the author with data from annual reports\nThe growth for all segments is very strong. I would like to underscore here one component - advertising (\"Other\" in the chart below). It is still pretty small with \"only\" ~$21bn in revenue but is growing at a staggering pace, adding another very lucrative business area to Amazon's portfolio.\nSource: Chart created by the author with data from annual reports\nLast but not least, the amount of free cash flow (\"FCF\") generated may show the quality of the business. It is one of the most important metrics for shareholders. FCF is used to pay dividends, repurchase shares, or for acquisitions. Amazon provides investors with three different metrics of FCF trying to adjust standard definition (FCF = Cash from Operations - Capex) to include heavy usage of finance leases used for faster expansion of AWS infrastructure and other equipment.\nSource: Chart created by the author with data from annual reports\nThe most important is the fact that all three metrics are rising. The Internet explains all of them for those interested in the nitty-gritty details of accounting.\nSource: Chart created by the author with data from annual reports\nValuation\nNote: I suggest subtracting 1,3% from CAGRs calculated below. 1,3% is an average shareholder dilution over the last 5 years. As long as there is no meaningful repurchase program, the dilution will continue.\nSimulation of P/EPS\nAnalyst estimate is that Amazon's EPS will grow at 38% on average for the next five years. Assuming massive ratio reduction (from the current P/E=61 to P/E=18-26), we arrive at a potential return between 47% and 113% in 2026 (or 8% to 16% CAGR).\nSource: Own calculation\nSource: Own calculation\nDCF\nFor DCF analysis I use Free Cash Flow less equipment finance leases and principal repayments of all other finance leases and financing obligations. With Amazon, this metric better presents the ability of the business to generate cash than standard FCF.\nI simulated much lower growth than presented in the last five years (and lower than analysts suggest). The reason is to be conservative and show likely outcomes of investing in Amazon at the current share price.\nDCF Worst-Case Scenario\nFCF growth drops gradually from 20% in 2021 to 11% in 2030. The first implication of this assumption is that the FCF in 2030 will be 4,5x higher than it is today. That would also imply that the current share price of ~$3200 will probably return around 6% annually.\nSource: Own calculation\nDCF Best-Case Scenario\nFCF growth drops gradually from 26% in 2021 to 17% in 2030. The FCF in 2030 would be almost 8x higher. That would also mean that the current share price of ~$3200 will probably deliver a return of 8% per annum.\nSource: Own calculation\nPrice to Sales\nIn the last few years, it was a good deal to buy AMZN when the PS ratio was at 3,3 or lower (with average PS=3,6).\nPS TTM is currently at 3.9. That suggests a slight overvaluation between 10-15%. PS=3,3 would represent the price of $2750 per share. Buying at an average PS=3,6 would mean waiting for the price to fall to $3000.\nThere is also a second option: the price will move sideways for the next 1-2 quarters and let the business catch up. Looking at forecasted sales growth, it will happen sooner rather than later.\nSource:Seeking Alpha\nConclusion\n2020 was for Amazon a great year. For Amazon shareholders too. Coronavirus caused a rapid acceleration in shifting the way we work, spend our free time, and buy things. It led to an explosion in revenues and profits. As a result, the share price doubled in a matter of a few months. But this is not over. Every single part of Amazon keeps growing at a high double-digit rate. And it will not stop soon.\nA lot of this growth is already in the share price. However, even quite conservative analysis shows that buying AMZN today may still generate at least 6-8% return p.a. in a long run. If the company continues improving efficiency, keeps innovating, and expands its portfolio of great products, the return may be even higher.\nTo sum it up, I rate Amazon shares to be fairly valued and expect better-than-average performance.","news_type":1},"isVote":1,"tweetType":1,"viewCount":94,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185661866,"gmtCreate":1623646572355,"gmtModify":1634030677596,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Good!","listText":"Good!","text":"Good!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185661866","repostId":"1127823989","repostType":2,"isVote":1,"tweetType":1,"viewCount":257,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":182696952,"gmtCreate":1623566714676,"gmtModify":1634031572683,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/182696952","repostId":"2142112788","repostType":2,"isVote":1,"tweetType":1,"viewCount":274,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182875672,"gmtCreate":1623565627096,"gmtModify":1634031587748,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"👍🏼👍🏼","listText":"👍🏼👍🏼","text":"👍🏼👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/182875672","repostId":"1148565686","repostType":4,"isVote":1,"tweetType":1,"viewCount":87,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185629577,"gmtCreate":1623646887899,"gmtModify":1634030670624,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/185629577","repostId":"1146011836","repostType":2,"repost":{"id":"1146011836","pubTimestamp":1623639735,"share":"https://www.laohu8.com/m/news/1146011836?lang=&edition=full","pubTime":"2021-06-14 11:02","market":"us","language":"en","title":"Amazon: The Virtuous Cycle At A Fair Price","url":"https://stock-news.laohu8.com/highlight/detail?id=1146011836","media":"seekingalpha","summary":"Summary\n\nAmazon's business is firing on all cylinders, giving its investors many reasons to smile.\nT","content":"<p><b>Summary</b></p>\n<ul>\n <li>Amazon's&nbsp;business is firing on all cylinders, giving its investors many reasons to smile.</li>\n <li>The company is reinforcing its moat in e-commerce, cloud services and grabbing aggressively its share in ads from Google and Facebook duopoly.</li>\n <li>A growing share of high-margin activities improves cash flow at rapid pace.</li>\n <li>At the current level, the share price represents at least 6-8% return p.a.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dfbef43d925558552ced924df58f081f\" tg-width=\"768\" tg-height=\"512\"><span>Photo by coldsnowstorm/iStock Unreleased via Getty Images</span></p>\n<p>Amazon (AMZN) is a very diversified business with many sources of revenue. Its size, strong brand, and leadership position in e-commerce and cloud services give it an immense moat. The advertisement branch makes Google and Facebook's duopoly sweat. The growth in all sectors is simply remarkable for a company of its size. It all does not leave any doubt that Amazon's future is bright.</p>\n<p>Also, the price for this outstanding business is pretty attractive. Simple and conservative estimates show a safe 6-8% return per annum. In the world of a zero interest rate, Amazon shares are a bargain.</p>\n<p><b>The Virtuous Cycle, aka Scale Economies Shared</b></p>\n<p>Almost twenty-five years ago, Jeff Bezos laid a foundation for his company. At its core lies customer-centricity. The idea is pretty simple: exceptional customer experience brings more traffic and sellers with their products. A growing platform scale lowers the prices, which improves customer experience even further. By broadening product offerings, reducing prices, improving delivery time, and selling the highest-quality services, Amazon wins customer loyalty and expands its customer base.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/33d2da72dce938108f652612d9f4b320\" tg-width=\"640\" tg-height=\"341\"><span>Source:Amazon - The Virtuous Cycle</span></p>\n<p>Putting customer experience at the center of every action combined with innovation spirit and readiness for failure has created a company that is redefining the way we shop, work, and spend our free time. Chapeau bas for management for sticking to those rules till these days, successful execution and constantly raising the bar to create more value for society.</p>\n<p><b>What do you get buying Amazon?</b></p>\n<p>All invested in Amazon know exactly why they own the shares. Leadership in life-changing trends, enormous growth, innovation, dominance, and of course huge profits. All checked. Let's put some numbers behind those buzzwords to prove it.</p>\n<p><b>E-commerce</b></p>\n<p>We start with e-commerce. This year the company is expected toincrease its US retail e-commerce market share to 40.4%. Walmart, second on the list, is going to enjoy only 7.1%. A clear sign of dominance. The sales growth is going to continue. After a Covid turbocharged 44.1% rise last year, analysts predict 15.3% in 2021. That means slowing down tothe average e-commerce growth in the US over the last decade.</p>\n<p>The international footprint is also growing nicely. In 2020, 27% of revenue came from abroad. And they are still expanding to new markets (in March 2021 they entered Poland startingamazon.pl).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad6f72d60e6af0ab7802b63bb60e04c5\" tg-width=\"640\" tg-height=\"107\"><span>Source: Amazon Annual Report 2020</span></p>\n<p>There are two trends in retail sales that are going to benefit Amazon in the coming years. First, overall consumption and spending are growing together with the economy. But most importantly, a share of e-commerce retail vs. total retail sales is going to increase.In 2020, it was already 21.3% for the USA, up from 6.4% in 2010. Still less than e.g. in China, where the National Bureau of Statistics of China estimated online retail penetration to be at 24.9% in 2020.</p>\n<p>As Jeff Bezos predicted, the virtuous cycle is self-reinforcing and attracting more and more customers and merchants to the platform every year. Last Amazon's report shows that the number of sold products increases pretty fast, so do SMBs' profits. Amazon is fueling its success by intensive investments in logistics, analysis tools, and services, which lead to growing Amazon success and so on.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b70ae811d800c6e2fcaeb619b5a50964\" tg-width=\"640\" tg-height=\"608\"><span>Source:Amazon SMB Impact Report 2020</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dfe8106bb3f81d21e177ef59cefc5888\" tg-width=\"640\" tg-height=\"709\"><span>Source: Amazon SMB Impact Report 2020</span></p>\n<p><b>AWS</b></p>\n<p>Whether it’s technology giants, television networks, banks, food manufacturers, or governments, many organizations are using AWS to develop, deploy and host applications. The biggest customers are well-known brands such asNetflix, Adobe, Apple, LinkedIn, Twitter, BBC, and many more.</p>\n<p>It is another area that has sped upbecause of the COVID-19 pandemic. Implementation of stay-at-home policies for consumers, work-from-home policies for employees generated enormous demand and caused much higher than initially expected cloud usage.</p>\n<p>Amazon invests heavily in the data centers and expands its geographical footprint. The company offers a broad and rapidly growing portfolio of cloud services. All these efforts to satisfy customers' needs have given Amazon aworldwide leadership position.</p>\n<p>Strong double-digit demand for cloud services is going to continue in the next few years. Forecasts say that in 2021 the whole segment value will reach$330bn, up 23% from 2020. AWS as a dominant force with almosta third of market sharein IaaS and PaaS will surely enjoy growing revenues and profits.</p>\n<p><b>Advertising</b></p>\n<p>Google or Facebook make money by advertising different products and services. Their algorithms are very efficient in targeting selected audience groups. They are great at defining what may be of interest for me, for you, and every single web user. But they do not have the same insights as Amazon has. Amazon knows exactly what people buy, how they buy it, and how much of it they buy. The knowledge of what movies Amazon Prime customers are watching, what music and books they consume, gives Amazon an even more complete picture of the consumer journey.</p>\n<p>Here, the trend is once again Amazon's friend. Totalad spending continues to riseyear after year at a double-digit rate. Digital ads are already a dominant form of marketing and as people have more electronic devices connected to the Internet, they continue to be the most important channel to reach customers.</p>\n<p>Amazon has been very successful in this field. The company is alreadythe third power in advertising in the USAwith 10% of the market share. They are expanding especially at Google's cost as more people search for specific products directly on Amazon's website circumventing Google's search engine. Analysts predict that both Google and Facebook are going to lose their market share in the coming years,whereas Amazon continues to grab a bigger part of the growing pie.</p>\n<p>Looking at advertising revenue (classified as \"Other\" in the annual report), we can assume that it grew at a whopping rate of 50% last year. As cloud services, it is a very profitable, high-margin activity that will nicely continue to increase Amazon's bottom line in the future.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8a8ab12e5788fda9765fbd60bf394f23\" tg-width=\"640\" tg-height=\"261\"><span>Source: Amazon Annual Report 2020</span></p>\n<p><b>Amazon Prime</b></p>\n<p>Other powerful revenue engines are subscription services i.e. Amazon Prime membership fees, video-on-demand, etc. What Amazon offers its customers is pretty unique - by subscribing they get a combination of cheaper and faster orders' delivery and access to a rich library of movies, series, and songs. And it is very affordable! Thanks to that the retention rate is very high and the user base is constantly growing, exceeding already 200 million people. And almost130 million are using the Video Prime service at least once a month. That gives Amazon Prime Video servicesecond position worldwide just behind Netflix.</p>\n<p>Again, also from this trend, Amazon is trying to make use of. The expectations are that OTT and VoD services will growbetween 14%and18% for the next 4-5 years.The acquisition of MGMand gaining such IPs like James Bond, The Silence of the Lambs, Fargo, and a few thousand others, shows that the company takes it pretty seriously and will fight for its share of the pie.</p>\n<p>Looking once more into the annual report, we may see that subscription services brought ~$25bn in FY 2020. It seems not much compared to $386bn of total revenue, but $25bn was also the total revenue of Netflix last year! And it is growing faster than Netflix revenue.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9535c8b9791a767f3e8b52754d5db4c1\" tg-width=\"640\" tg-height=\"264\"><span>Source: Amazon Annual Report 2020</span></p>\n<p><b>Others</b></p>\n<p>If it was not enough, Amazon constantly tries to revolutionize some aspects of our lives and create new expansion opportunities. It isa leader in the smart speaker market(50% of the US market). Kindle dominates the e-reader market in the USA. FireTV streams videos to millions of homes. Etc., etc.</p>\n<p>Many experimental initiatives can easily become another mega-trend and contribute even more to customer satisfaction and the company's success, e.g.:</p>\n<ul>\n <li><p>Amazon Go - cashier-free stores</p></li>\n <li><p>AI-powered home robots</p></li>\n <li><p>game streaming services</p></li>\n <li><p>investing in self-driving technology</p></li>\n <li><p>building a fleet of delivery drones, etc.</p></li>\n</ul>\n<p><b>How did the business perform?</b></p>\n<p>Amazon does not provide as detailed information about its user base asAlibaba(BABA). Investors have only vague data announced from time to time during Earnings Calls or from Letters to Shareholders. For example,in the last letter, Jeff Bezos writes that Amazon Prime has already over 200 million members.Over 75% are Americans. However, the number of active users is much higher. Already inQ2 2016, there were over 300 million active customers globally.</p>\n<p>Let's move to the financial information to see the revenue generation power of Amazon's customers. The revenue is growing consistently at a high rate. The pre-pandemic slowdown was quickly corrected last year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00ea9010cdf36960ced3316748d5b396\" tg-width=\"640\" tg-height=\"395\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>The significance of the AWS, the golden goose of Amazon, and its contribution to the revenue was also growing from 7% in 2015 to almost 12% in 2020. Disappointing is the fact that the international sales represent currently only 27% of total revenue (a drop from 33% in 2015). It reduces the diversification of revenue streams and shows that the competition abroad is strong.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8e5447ded18a889ea1ff7cdf37b342a\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>On a plus side, we can see below that all segments are growing, but international revenue is simply growing slower than sales in North America or AWS. Another small positive is the fact that international sales saw last year almost 40% jump, slightly better than the other two segments.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5550abe99358bb2a60e8552476cb096\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>Similar to revenue, the operating income made a huge jump last year as COVID hit.</p>\n<p><img src=\"https://static.tigerbbs.com/7cf5a471f3cc5f3e15ad0436cc7f9a7b\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p>\n<p>The biggest contribution to the operating income is AWS. In 2020, cloud services generated over $13bn, which represented ~60% of total profits.</p>\n<p>Source: Chart created by the author with data from annual reports</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/366bd2ee01f2a7f0fa78c25001150c99\" tg-width=\"640\" tg-height=\"397\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>North America brought around $9bn or 37% of the total operating income last year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d49e53238ae749ae5f39ca6d421dca51\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>Profits from AWS and North America used to subsidize international retail sales which only last year turned profitable. We may attribute this positive result to two factors - improving the efficiency of operation and favorable currency exchange rate last year.</p>\n<p>Let's have a look at Amazon's margins below. They are nicely trending higher almost every year. There are at least a few good reasons for that e.g. the scale of Amazon's operation, growing AWS, cash flow from Amazon Prime, and other subscription services. Margin expansion underlines the quality of the business and the good investment decisions of the management.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8e935c9bf800475aa0017d40f8fb1920\" tg-width=\"640\" tg-height=\"296\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>In annual reports, Amazon presents also an alternative way of categorizing revenue streams. The chart \"Net sales by groups of similar products and services\" summarizes this method for the last few years. In 2020, slightly over 50% was attributed to online stores. We can see that AWS, advertising, subscriptions, and 3rd party seller services are growing faster than online stores. It shows the strength and diversity of Amazon's platform. It is nicely reflected in growing margins and recurring revenue streams.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9394fd8d8fb6183d2e32bdb24c02b6f\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>The growth for all segments is very strong. I would like to underscore here one component - advertising (\"Other\" in the chart below). It is still pretty small with \"only\" ~$21bn in revenue but is growing at a staggering pace, adding another very lucrative business area to Amazon's portfolio.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a5cf6ce184acc5b763aeb00f34b69b54\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>Last but not least, the amount of free cash flow (\"FCF\") generated may show the quality of the business. It is one of the most important metrics for shareholders. FCF is used to pay dividends, repurchase shares, or for acquisitions. Amazon provides investors with three different metrics of FCF trying to adjust standard definition (FCF = Cash from Operations - Capex) to include heavy usage of finance leases used for faster expansion of AWS infrastructure and other equipment.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/66290fc24e1df8192026a2305de99933\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p>The most important is the fact that all three metrics are rising. The Internet explains all of them for those interested in the nitty-gritty details of accounting.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aa13303f053af872d639e94fcfae68ca\" tg-width=\"640\" tg-height=\"396\"><span>Source: Chart created by the author with data from annual reports</span></p>\n<p><b>Valuation</b></p>\n<p>Note: I suggest subtracting 1,3% from CAGRs calculated below. 1,3% is an average shareholder dilution over the last 5 years. As long as there is no meaningful repurchase program, the dilution will continue.</p>\n<p><b>Simulation of P/EPS</b></p>\n<p>Analyst estimate is that Amazon's EPS will grow at 38% on average for the next five years. Assuming massive ratio reduction (from the current P/E=61 to P/E=18-26), we arrive at a potential return between 47% and 113% in 2026 (or 8% to 16% CAGR).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1a6f6320356bfd13c8cd1423f5c4997c\" tg-width=\"640\" tg-height=\"424\"><span>Source: Own calculation</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f7d373e66cfae1c02a39f11f735644db\" tg-width=\"640\" tg-height=\"396\"><span>Source: Own calculation</span></p>\n<p><b>DCF</b></p>\n<p>For DCF analysis I use Free Cash Flow less equipment finance leases and principal repayments of all other finance leases and financing obligations. With Amazon, this metric better presents the ability of the business to generate cash than standard FCF.</p>\n<p>I simulated much lower growth than presented in the last five years (and lower than analysts suggest). The reason is to be conservative and show likely outcomes of investing in Amazon at the current share price.</p>\n<p><b>DCF Worst-Case Scenario</b></p>\n<p>FCF growth drops gradually from 20% in 2021 to 11% in 2030. The first implication of this assumption is that the FCF in 2030 will be 4,5x higher than it is today. That would also imply that the current share price of ~$3200 will probably return around 6% annually.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/776195c42bbdbd69b1bfe5f22651ca12\" tg-width=\"640\" tg-height=\"245\"><span>Source: Own calculation</span></p>\n<p><b>DCF Best-Case Scenario</b></p>\n<p>FCF growth drops gradually from 26% in 2021 to 17% in 2030. The FCF in 2030 would be almost 8x higher. That would also mean that the current share price of ~$3200 will probably deliver a return of 8% per annum.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/93471937eb050c18cabebb3ea4d3270c\" tg-width=\"640\" tg-height=\"245\"><span>Source: Own calculation</span></p>\n<p><b>Price to Sales</b></p>\n<p>In the last few years, it was a good deal to buy AMZN when the PS ratio was at 3,3 or lower (with average PS=3,6).</p>\n<p>PS TTM is currently at 3.9. That suggests a slight overvaluation between 10-15%. PS=3,3 would represent the price of $2750 per share. Buying at an average PS=3,6 would mean waiting for the price to fall to $3000.</p>\n<p>There is also a second option: the price will move sideways for the next 1-2 quarters and let the business catch up. Looking at forecasted sales growth, it will happen sooner rather than later.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/02b247d1eaf407d6569dd5465ebf0a3b\" tg-width=\"640\" tg-height=\"581\"><span>Source:Seeking Alpha</span></p>\n<p><b>Conclusion</b></p>\n<p>2020 was for Amazon a great year. For Amazon shareholders too. Coronavirus caused a rapid acceleration in shifting the way we work, spend our free time, and buy things. It led to an explosion in revenues and profits. As a result, the share price doubled in a matter of a few months. But this is not over. Every single part of Amazon keeps growing at a high double-digit rate. And it will not stop soon.</p>\n<p>A lot of this growth is already in the share price. However, even quite conservative analysis shows that buying AMZN today may still generate at least 6-8% return p.a. in a long run. If the company continues improving efficiency, keeps innovating, and expands its portfolio of great products, the return may be even higher.</p>\n<p>To sum it up, I rate Amazon shares to be fairly valued and expect better-than-average performance.</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>Amazon: The Virtuous Cycle At A Fair Price</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: The Virtuous Cycle At A Fair Price\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 11:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4434620-amazon-the-virtuous-cycle-at-a-fair-price><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAmazon's business is firing on all cylinders, giving its investors many reasons to smile.\nThe company is reinforcing its moat in e-commerce, cloud services and grabbing aggressively its share...</p>\n\n<a href=\"https://seekingalpha.com/article/4434620-amazon-the-virtuous-cycle-at-a-fair-price\">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":"https://seekingalpha.com/article/4434620-amazon-the-virtuous-cycle-at-a-fair-price","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146011836","content_text":"Summary\n\nAmazon's business is firing on all cylinders, giving its investors many reasons to smile.\nThe company is reinforcing its moat in e-commerce, cloud services and grabbing aggressively its share in ads from Google and Facebook duopoly.\nA growing share of high-margin activities improves cash flow at rapid pace.\nAt the current level, the share price represents at least 6-8% return p.a.\n\nPhoto by coldsnowstorm/iStock Unreleased via Getty Images\nAmazon (AMZN) is a very diversified business with many sources of revenue. Its size, strong brand, and leadership position in e-commerce and cloud services give it an immense moat. The advertisement branch makes Google and Facebook's duopoly sweat. The growth in all sectors is simply remarkable for a company of its size. It all does not leave any doubt that Amazon's future is bright.\nAlso, the price for this outstanding business is pretty attractive. Simple and conservative estimates show a safe 6-8% return per annum. In the world of a zero interest rate, Amazon shares are a bargain.\nThe Virtuous Cycle, aka Scale Economies Shared\nAlmost twenty-five years ago, Jeff Bezos laid a foundation for his company. At its core lies customer-centricity. The idea is pretty simple: exceptional customer experience brings more traffic and sellers with their products. A growing platform scale lowers the prices, which improves customer experience even further. By broadening product offerings, reducing prices, improving delivery time, and selling the highest-quality services, Amazon wins customer loyalty and expands its customer base.\nSource:Amazon - The Virtuous Cycle\nPutting customer experience at the center of every action combined with innovation spirit and readiness for failure has created a company that is redefining the way we shop, work, and spend our free time. Chapeau bas for management for sticking to those rules till these days, successful execution and constantly raising the bar to create more value for society.\nWhat do you get buying Amazon?\nAll invested in Amazon know exactly why they own the shares. Leadership in life-changing trends, enormous growth, innovation, dominance, and of course huge profits. All checked. Let's put some numbers behind those buzzwords to prove it.\nE-commerce\nWe start with e-commerce. This year the company is expected toincrease its US retail e-commerce market share to 40.4%. Walmart, second on the list, is going to enjoy only 7.1%. A clear sign of dominance. The sales growth is going to continue. After a Covid turbocharged 44.1% rise last year, analysts predict 15.3% in 2021. That means slowing down tothe average e-commerce growth in the US over the last decade.\nThe international footprint is also growing nicely. In 2020, 27% of revenue came from abroad. And they are still expanding to new markets (in March 2021 they entered Poland startingamazon.pl).\nSource: Amazon Annual Report 2020\nThere are two trends in retail sales that are going to benefit Amazon in the coming years. First, overall consumption and spending are growing together with the economy. But most importantly, a share of e-commerce retail vs. total retail sales is going to increase.In 2020, it was already 21.3% for the USA, up from 6.4% in 2010. Still less than e.g. in China, where the National Bureau of Statistics of China estimated online retail penetration to be at 24.9% in 2020.\nAs Jeff Bezos predicted, the virtuous cycle is self-reinforcing and attracting more and more customers and merchants to the platform every year. Last Amazon's report shows that the number of sold products increases pretty fast, so do SMBs' profits. Amazon is fueling its success by intensive investments in logistics, analysis tools, and services, which lead to growing Amazon success and so on.\nSource:Amazon SMB Impact Report 2020\nSource: Amazon SMB Impact Report 2020\nAWS\nWhether it’s technology giants, television networks, banks, food manufacturers, or governments, many organizations are using AWS to develop, deploy and host applications. The biggest customers are well-known brands such asNetflix, Adobe, Apple, LinkedIn, Twitter, BBC, and many more.\nIt is another area that has sped upbecause of the COVID-19 pandemic. Implementation of stay-at-home policies for consumers, work-from-home policies for employees generated enormous demand and caused much higher than initially expected cloud usage.\nAmazon invests heavily in the data centers and expands its geographical footprint. The company offers a broad and rapidly growing portfolio of cloud services. All these efforts to satisfy customers' needs have given Amazon aworldwide leadership position.\nStrong double-digit demand for cloud services is going to continue in the next few years. Forecasts say that in 2021 the whole segment value will reach$330bn, up 23% from 2020. AWS as a dominant force with almosta third of market sharein IaaS and PaaS will surely enjoy growing revenues and profits.\nAdvertising\nGoogle or Facebook make money by advertising different products and services. Their algorithms are very efficient in targeting selected audience groups. They are great at defining what may be of interest for me, for you, and every single web user. But they do not have the same insights as Amazon has. Amazon knows exactly what people buy, how they buy it, and how much of it they buy. The knowledge of what movies Amazon Prime customers are watching, what music and books they consume, gives Amazon an even more complete picture of the consumer journey.\nHere, the trend is once again Amazon's friend. Totalad spending continues to riseyear after year at a double-digit rate. Digital ads are already a dominant form of marketing and as people have more electronic devices connected to the Internet, they continue to be the most important channel to reach customers.\nAmazon has been very successful in this field. The company is alreadythe third power in advertising in the USAwith 10% of the market share. They are expanding especially at Google's cost as more people search for specific products directly on Amazon's website circumventing Google's search engine. Analysts predict that both Google and Facebook are going to lose their market share in the coming years,whereas Amazon continues to grab a bigger part of the growing pie.\nLooking at advertising revenue (classified as \"Other\" in the annual report), we can assume that it grew at a whopping rate of 50% last year. As cloud services, it is a very profitable, high-margin activity that will nicely continue to increase Amazon's bottom line in the future.\nSource: Amazon Annual Report 2020\nAmazon Prime\nOther powerful revenue engines are subscription services i.e. Amazon Prime membership fees, video-on-demand, etc. What Amazon offers its customers is pretty unique - by subscribing they get a combination of cheaper and faster orders' delivery and access to a rich library of movies, series, and songs. And it is very affordable! Thanks to that the retention rate is very high and the user base is constantly growing, exceeding already 200 million people. And almost130 million are using the Video Prime service at least once a month. That gives Amazon Prime Video servicesecond position worldwide just behind Netflix.\nAgain, also from this trend, Amazon is trying to make use of. The expectations are that OTT and VoD services will growbetween 14%and18% for the next 4-5 years.The acquisition of MGMand gaining such IPs like James Bond, The Silence of the Lambs, Fargo, and a few thousand others, shows that the company takes it pretty seriously and will fight for its share of the pie.\nLooking once more into the annual report, we may see that subscription services brought ~$25bn in FY 2020. It seems not much compared to $386bn of total revenue, but $25bn was also the total revenue of Netflix last year! And it is growing faster than Netflix revenue.\nSource: Amazon Annual Report 2020\nOthers\nIf it was not enough, Amazon constantly tries to revolutionize some aspects of our lives and create new expansion opportunities. It isa leader in the smart speaker market(50% of the US market). Kindle dominates the e-reader market in the USA. FireTV streams videos to millions of homes. Etc., etc.\nMany experimental initiatives can easily become another mega-trend and contribute even more to customer satisfaction and the company's success, e.g.:\n\nAmazon Go - cashier-free stores\nAI-powered home robots\ngame streaming services\ninvesting in self-driving technology\nbuilding a fleet of delivery drones, etc.\n\nHow did the business perform?\nAmazon does not provide as detailed information about its user base asAlibaba(BABA). Investors have only vague data announced from time to time during Earnings Calls or from Letters to Shareholders. For example,in the last letter, Jeff Bezos writes that Amazon Prime has already over 200 million members.Over 75% are Americans. However, the number of active users is much higher. Already inQ2 2016, there were over 300 million active customers globally.\nLet's move to the financial information to see the revenue generation power of Amazon's customers. The revenue is growing consistently at a high rate. The pre-pandemic slowdown was quickly corrected last year.\nSource: Chart created by the author with data from annual reports\nThe significance of the AWS, the golden goose of Amazon, and its contribution to the revenue was also growing from 7% in 2015 to almost 12% in 2020. Disappointing is the fact that the international sales represent currently only 27% of total revenue (a drop from 33% in 2015). It reduces the diversification of revenue streams and shows that the competition abroad is strong.\nSource: Chart created by the author with data from annual reports\nOn a plus side, we can see below that all segments are growing, but international revenue is simply growing slower than sales in North America or AWS. Another small positive is the fact that international sales saw last year almost 40% jump, slightly better than the other two segments.\nSource: Chart created by the author with data from annual reports\nSimilar to revenue, the operating income made a huge jump last year as COVID hit.\n\nThe biggest contribution to the operating income is AWS. In 2020, cloud services generated over $13bn, which represented ~60% of total profits.\nSource: Chart created by the author with data from annual reports\nSource: Chart created by the author with data from annual reports\nNorth America brought around $9bn or 37% of the total operating income last year.\nSource: Chart created by the author with data from annual reports\nProfits from AWS and North America used to subsidize international retail sales which only last year turned profitable. We may attribute this positive result to two factors - improving the efficiency of operation and favorable currency exchange rate last year.\nLet's have a look at Amazon's margins below. They are nicely trending higher almost every year. There are at least a few good reasons for that e.g. the scale of Amazon's operation, growing AWS, cash flow from Amazon Prime, and other subscription services. Margin expansion underlines the quality of the business and the good investment decisions of the management.\nSource: Chart created by the author with data from annual reports\nIn annual reports, Amazon presents also an alternative way of categorizing revenue streams. The chart \"Net sales by groups of similar products and services\" summarizes this method for the last few years. In 2020, slightly over 50% was attributed to online stores. We can see that AWS, advertising, subscriptions, and 3rd party seller services are growing faster than online stores. It shows the strength and diversity of Amazon's platform. It is nicely reflected in growing margins and recurring revenue streams.\nSource: Chart created by the author with data from annual reports\nThe growth for all segments is very strong. I would like to underscore here one component - advertising (\"Other\" in the chart below). It is still pretty small with \"only\" ~$21bn in revenue but is growing at a staggering pace, adding another very lucrative business area to Amazon's portfolio.\nSource: Chart created by the author with data from annual reports\nLast but not least, the amount of free cash flow (\"FCF\") generated may show the quality of the business. It is one of the most important metrics for shareholders. FCF is used to pay dividends, repurchase shares, or for acquisitions. Amazon provides investors with three different metrics of FCF trying to adjust standard definition (FCF = Cash from Operations - Capex) to include heavy usage of finance leases used for faster expansion of AWS infrastructure and other equipment.\nSource: Chart created by the author with data from annual reports\nThe most important is the fact that all three metrics are rising. The Internet explains all of them for those interested in the nitty-gritty details of accounting.\nSource: Chart created by the author with data from annual reports\nValuation\nNote: I suggest subtracting 1,3% from CAGRs calculated below. 1,3% is an average shareholder dilution over the last 5 years. As long as there is no meaningful repurchase program, the dilution will continue.\nSimulation of P/EPS\nAnalyst estimate is that Amazon's EPS will grow at 38% on average for the next five years. Assuming massive ratio reduction (from the current P/E=61 to P/E=18-26), we arrive at a potential return between 47% and 113% in 2026 (or 8% to 16% CAGR).\nSource: Own calculation\nSource: Own calculation\nDCF\nFor DCF analysis I use Free Cash Flow less equipment finance leases and principal repayments of all other finance leases and financing obligations. With Amazon, this metric better presents the ability of the business to generate cash than standard FCF.\nI simulated much lower growth than presented in the last five years (and lower than analysts suggest). The reason is to be conservative and show likely outcomes of investing in Amazon at the current share price.\nDCF Worst-Case Scenario\nFCF growth drops gradually from 20% in 2021 to 11% in 2030. The first implication of this assumption is that the FCF in 2030 will be 4,5x higher than it is today. That would also imply that the current share price of ~$3200 will probably return around 6% annually.\nSource: Own calculation\nDCF Best-Case Scenario\nFCF growth drops gradually from 26% in 2021 to 17% in 2030. The FCF in 2030 would be almost 8x higher. That would also mean that the current share price of ~$3200 will probably deliver a return of 8% per annum.\nSource: Own calculation\nPrice to Sales\nIn the last few years, it was a good deal to buy AMZN when the PS ratio was at 3,3 or lower (with average PS=3,6).\nPS TTM is currently at 3.9. That suggests a slight overvaluation between 10-15%. PS=3,3 would represent the price of $2750 per share. Buying at an average PS=3,6 would mean waiting for the price to fall to $3000.\nThere is also a second option: the price will move sideways for the next 1-2 quarters and let the business catch up. Looking at forecasted sales growth, it will happen sooner rather than later.\nSource:Seeking Alpha\nConclusion\n2020 was for Amazon a great year. For Amazon shareholders too. Coronavirus caused a rapid acceleration in shifting the way we work, spend our free time, and buy things. It led to an explosion in revenues and profits. As a result, the share price doubled in a matter of a few months. But this is not over. Every single part of Amazon keeps growing at a high double-digit rate. And it will not stop soon.\nA lot of this growth is already in the share price. However, even quite conservative analysis shows that buying AMZN today may still generate at least 6-8% return p.a. in a long run. If the company continues improving efficiency, keeps innovating, and expands its portfolio of great products, the return may be even higher.\nTo sum it up, I rate Amazon shares to be fairly valued and expect better-than-average performance.","news_type":1},"isVote":1,"tweetType":1,"viewCount":94,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185661866,"gmtCreate":1623646572355,"gmtModify":1634030677596,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Good!","listText":"Good!","text":"Good!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185661866","repostId":"1127823989","repostType":2,"isVote":1,"tweetType":1,"viewCount":257,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182874403,"gmtCreate":1623565662802,"gmtModify":1634031586539,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"👍🏼👍🏼👍🏼","listText":"👍🏼👍🏼👍🏼","text":"👍🏼👍🏼👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/182874403","repostId":"2142204074","repostType":4,"repost":{"id":"2142204074","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":1623441637,"share":"https://www.laohu8.com/m/news/2142204074?lang=&edition=full","pubTime":"2021-06-12 04:00","market":"us","language":"en","title":"S&P ekes out gains to close languid week","url":"https://stock-news.laohu8.com/highlight/detail?id=2142204074","media":"Reuters","summary":"NEW YORK, June 11  - The S&P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.Economically sensitive smallcaps and transports notched solid gains, outperforming the broader market.For the week, the S&P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.But th","content":"<p>NEW YORK, June 11 (Reuters) - The S&amp;P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.</p>\n<p>Economically sensitive smallcaps and transports&nbsp;notched solid gains, outperforming the broader market.</p>\n<p>For the week, the S&amp;P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.</p>\n<p>But the indexes have been range-bound, with few catalysts to move investor sentiment. Much of the focus centered on Thursday's consumer price data, which eased jitters over the duration of the current inflation wave.</p>\n<p>\"It’s a muted day today,\" Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. \"The summer is settling in, people are slipping out of work early and there’s nothing in the news that’s going to materially drive the market in either direction.\"</p>\n<p>\"So, investors are going to wait until earnings season.\"</p>\n<p>The Federal Reserve has repeatedly said that near-term price surges will not metastasize into lasting inflation, an assertion reflected in the University of Michigan's Consumer Sentiment report released on Friday, which showed inflation expectations easing from last month's spike.</p>\n<p>Investors now turn their attention to the Fed's statement at the conclusion of next week's two-day monetary policy meeting, which will be parsed for clues regarding the central bank's timetable for raising key interest rates.</p>\n<p>\"Our view continues to be that inflationary data is transient and we will be around the 2% mark for the year,\" Pursche added.</p>\n<p>Benchmark U.S. Treasury yields posted their biggest weekly drop in nearly a year, weighing on the interest-sensitive financial sector in recent sessions.</p>\n<p>The Food and Drug Administration is facing mounting criticism over its \"accelerated approval\" of Biogen Inc's</p>\n<p>Alzheimer's drug Aduhelm without strong evidence of its ability to combat the disease.</p>\n<p>Biogen shares, along with the broader healthcare sector&nbsp;ended the session lower.</p>\n<p>Unofficially, the Dow Jones Industrial Average rose 14.41 points, or 0.04%, to 34,480.65, the S&amp;P 500 gained 8.29 points, or 0.20%, to 4,247.47 and the Nasdaq Composite&nbsp;added 49.09 points, or 0.35%, to 14,069.42.</p>\n<p>Among the 11 major sectors in the S&amp;P 500, healthcare suffered the biggest percentage drop.</p>\n<p>Much of the trading volume this week was attributable to the ongoing social media-driven \"meme stock\" phenomenon, in which retail investors swarm around heavily shorted stocks.</p>\n<p>But meme stock moves were more muted on Friday, with AMC Entertainment outperforming.</p>\n<p>(Reporting by Stephen Culp in New York Additional reporting by Ambar Warrick and Devik Jain in Bengaluru Editing by Matthew Lewis and Cynthia Osterman)</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>S&P ekes out gains to close languid week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P ekes out gains to close languid week\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-12 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK, June 11 (Reuters) - The S&amp;P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.</p>\n<p>Economically sensitive smallcaps and transports&nbsp;notched solid gains, outperforming the broader market.</p>\n<p>For the week, the S&amp;P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.</p>\n<p>But the indexes have been range-bound, with few catalysts to move investor sentiment. Much of the focus centered on Thursday's consumer price data, which eased jitters over the duration of the current inflation wave.</p>\n<p>\"It’s a muted day today,\" Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. \"The summer is settling in, people are slipping out of work early and there’s nothing in the news that’s going to materially drive the market in either direction.\"</p>\n<p>\"So, investors are going to wait until earnings season.\"</p>\n<p>The Federal Reserve has repeatedly said that near-term price surges will not metastasize into lasting inflation, an assertion reflected in the University of Michigan's Consumer Sentiment report released on Friday, which showed inflation expectations easing from last month's spike.</p>\n<p>Investors now turn their attention to the Fed's statement at the conclusion of next week's two-day monetary policy meeting, which will be parsed for clues regarding the central bank's timetable for raising key interest rates.</p>\n<p>\"Our view continues to be that inflationary data is transient and we will be around the 2% mark for the year,\" Pursche added.</p>\n<p>Benchmark U.S. Treasury yields posted their biggest weekly drop in nearly a year, weighing on the interest-sensitive financial sector in recent sessions.</p>\n<p>The Food and Drug Administration is facing mounting criticism over its \"accelerated approval\" of Biogen Inc's</p>\n<p>Alzheimer's drug Aduhelm without strong evidence of its ability to combat the disease.</p>\n<p>Biogen shares, along with the broader healthcare sector&nbsp;ended the session lower.</p>\n<p>Unofficially, the Dow Jones Industrial Average rose 14.41 points, or 0.04%, to 34,480.65, the S&amp;P 500 gained 8.29 points, or 0.20%, to 4,247.47 and the Nasdaq Composite&nbsp;added 49.09 points, or 0.35%, to 14,069.42.</p>\n<p>Among the 11 major sectors in the S&amp;P 500, healthcare suffered the biggest percentage drop.</p>\n<p>Much of the trading volume this week was attributable to the ongoing social media-driven \"meme stock\" phenomenon, in which retail investors swarm around heavily shorted stocks.</p>\n<p>But meme stock moves were more muted on Friday, with AMC Entertainment outperforming.</p>\n<p>(Reporting by Stephen Culp in New York Additional reporting by Ambar Warrick and Devik Jain in Bengaluru Editing by Matthew Lewis and Cynthia Osterman)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","OEF":"标普100指数ETF-iShares","PSQ":"纳指反向ETF","SDOW":"道指三倍做空ETF-ProShares","SQQQ":"纳指三倍做空ETF","TQQQ":"纳指三倍做多ETF","SDS":"两倍做空标普500ETF","DDM":"道指两倍做多ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","QID":"纳指两倍做空ETF",".SPX":"S&P 500 Index","OEX":"标普100","DXD":"道指两倍做空ETF","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF","QQQ":"纳指100ETF","SH":"标普500反向ETF","SSO":"两倍做多标普500ETF","DJX":"1/100道琼斯","IVV":"标普500指数ETF","SPXU":"三倍做空标普500ETF","DOG":"道指反向ETF","QLD":"纳指两倍做多ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142204074","content_text":"NEW YORK, June 11 (Reuters) - The S&P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.\nEconomically sensitive smallcaps and transports notched solid gains, outperforming the broader market.\nFor the week, the S&P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.\nBut the indexes have been range-bound, with few catalysts to move investor sentiment. Much of the focus centered on Thursday's consumer price data, which eased jitters over the duration of the current inflation wave.\n\"It’s a muted day today,\" Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. \"The summer is settling in, people are slipping out of work early and there’s nothing in the news that’s going to materially drive the market in either direction.\"\n\"So, investors are going to wait until earnings season.\"\nThe Federal Reserve has repeatedly said that near-term price surges will not metastasize into lasting inflation, an assertion reflected in the University of Michigan's Consumer Sentiment report released on Friday, which showed inflation expectations easing from last month's spike.\nInvestors now turn their attention to the Fed's statement at the conclusion of next week's two-day monetary policy meeting, which will be parsed for clues regarding the central bank's timetable for raising key interest rates.\n\"Our view continues to be that inflationary data is transient and we will be around the 2% mark for the year,\" Pursche added.\nBenchmark U.S. Treasury yields posted their biggest weekly drop in nearly a year, weighing on the interest-sensitive financial sector in recent sessions.\nThe Food and Drug Administration is facing mounting criticism over its \"accelerated approval\" of Biogen Inc's\nAlzheimer's drug Aduhelm without strong evidence of its ability to combat the disease.\nBiogen shares, along with the broader healthcare sector ended the session lower.\nUnofficially, the Dow Jones Industrial Average rose 14.41 points, or 0.04%, to 34,480.65, the S&P 500 gained 8.29 points, or 0.20%, to 4,247.47 and the Nasdaq Composite added 49.09 points, or 0.35%, to 14,069.42.\nAmong the 11 major sectors in the S&P 500, healthcare suffered the biggest percentage drop.\nMuch of the trading volume this week was attributable to the ongoing social media-driven \"meme stock\" phenomenon, in which retail investors swarm around heavily shorted stocks.\nBut meme stock moves were more muted on Friday, with AMC Entertainment outperforming.\n(Reporting by Stephen Culp in New York Additional reporting by Ambar Warrick and Devik Jain in Bengaluru Editing by Matthew Lewis and Cynthia Osterman)","news_type":1},"isVote":1,"tweetType":1,"viewCount":52,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182874668,"gmtCreate":1623565650054,"gmtModify":1634031586910,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"👍🏼👍🏼👍🏼","listText":"👍🏼👍🏼👍🏼","text":"👍🏼👍🏼👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/182874668","repostId":"1190309980","repostType":4,"repost":{"id":"1190309980","pubTimestamp":1623411452,"share":"https://www.laohu8.com/m/news/1190309980?lang=&edition=full","pubTime":"2021-06-11 19:37","market":"us","language":"en","title":"2 Crucial Lessons From Cathie Wood About Apple Stock","url":"https://stock-news.laohu8.com/highlight/detail?id=1190309980","media":"The Street","summary":"Cathie Wood’s ARK Invest is not much of an investor in Apple stock. But the famed fund manager has offered valuable advice about the Cupertino company’s shares that is worth revisiting.In doing my daily research of Apple stock  -Get Report, I stumbled upon a gem from Ark Invest’s CEO, CIO and rockstar money manager Cathie Wood. In January 2016, during aninterviewwith CNBC, she was asked which stock seemed like a better buy at the time: AAPL or AMZN.Considering Apple stock’s loss of 5% in 2015, h","content":"<blockquote>\n <b>Cathie Wood’s ARK Invest is not much of an investor in Apple stock. But the famed fund manager has offered valuable advice about the Cupertino company’s shares that is worth revisiting.</b>\n</blockquote>\n<p>In doing my daily research of Apple stock&nbsp;(<b>AAPL</b>) -Get Report, I stumbled upon a gem from Ark Invest’s CEO, CIO and rockstar money manager Cathie Wood. In January 2016, during aninterviewwith CNBC, she was asked which stock seemed like a better buy at the time: AAPL or AMZN.</p>\n<p>Considering Apple stock’s loss of 5% in 2015, her response was the following:</p>\n<blockquote>\n “At this moment, […] Apple might be, because […] the thinking there is so short term. […] Apple is going to become a big company, and [the stock] has been depressed recently by channel checks: how iPhone sales will do in the first quarter, or in the second quarter.”\n</blockquote>\n<p>Since this interview, Apple share price climbed a whopping 400%-plus in just over five years.</p>\n<p><b>#1. Buying quality on weakness</b></p>\n<p>The first important lesson from Ms. Wood’s 2016 insight above is that high-quality companies, whose stocks are likely to climb over time, should be bought on weakness. The logic is simple: if the long-term trend is up, buy shares when the market is selling them at a discount.</p>\n<p>I put some numbers around this ideaa couple of months ago. Historically, it has made much more sense to buy AAPL when shares declined from a previous peak.</p>\n<p>The chart below shows the historical average one-year return in Apple stock under different scenarios. Notice that, the more shares dip, the higher the future returns have been.</p>\n<p><img src=\"https://static.tigerbbs.com/d8f3b347dced7ad7d67e5c7ef756c550\" tg-width=\"578\" tg-height=\"348\">Following the same logic, current Apple investors might be encouraged that the stock remains under water: 12% below the January 2021 top of $143. Should AAPL make fresh all-time highs soon, asI recently speculated that it could, returns for the remainder of the year may start to look appealing.</p>\n<p><b>#2. Filtering out short-term noise</b></p>\n<p>The second point made by Cathie Wood is at least as important. In her view, Apple stock was under pressure in 2015 and early 2016 due to short-term concerns over smartphone sales in the following couple of quarters, especially after the blockbuster release of the iPhone 6.</p>\n<p>In analyzing market movements, I believe it helps to think about the real drivers of share price: buyers and sellers of the stock. Sometimes, people on both sides of the transaction are more concerned about how a stock might perform in the near term, possibly hoping to make a quick buck – and this is just fine.</p>\n<p>In these cases, long-term buyers are probably better off ignoring “short term noise” about what sales or earnings might look like right around the corner. Better yet, they might want to take advantage of selling pressures created by short-term traders to enter a position at better prices.</p>\n<p>Apple might be faced with a similar setup in 2021. The chatter on Wall Street seems torevolve around the company’s follow throughto a successful pandemic year and launch of the first 5G-capable iPhone.</p>\n<p>But look beyond the next 12 months, and one might find it easier to make a bullish case on Apple stock. The company continues to grow revenues, expand margins, pile on cash, while it has yet to tap intoopportunities in mixed realityandautonomous vehicles.</p>\n<p><b>Twitter speaks</b></p>\n<p>Big Tech stocks like Amazon and Apple are a tiny piece of famed investor Cathie Wood’s ARK portfolios. In your view, which of the following FAAMG names would deserve higher allocation in a tech disrupter and innovator ETF? Leave your vote below on our partner's Twitter, @AmazonMaven.</p>\n<p><img src=\"https://static.tigerbbs.com/565580495c2d16818604c9b6d814b1db\" tg-width=\"582\" tg-height=\"480\"></p>\n<p><b>Is the price right?</b></p>\n<p>Looking at a company’s business fundamentals is only half the work needed to find a good stock. How much one pays to own the shares is a key factor in the success of any investment. This is why valuation analysis is so important.</p>\n<p>Alpha Spread’suser-friendly platform allows you to estimate a stock’s fair value –through valuation multiples, discounted cash flow, and more. I believe that the service is a must for anyone looking to own the right stock at the right price.Check out alphaspread.comand get started with a 7-day free trial.</p>","source":"lsy1610613172068","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 Crucial Lessons From Cathie Wood About Apple Stock</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 Crucial Lessons From Cathie Wood About Apple Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 19:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/apple/news/2-crucial-lessons-from-cathie-wood-about-apple-stock><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cathie Wood’s ARK Invest is not much of an investor in Apple stock. But the famed fund manager has offered valuable advice about the Cupertino company’s shares that is worth revisiting.\n\nIn doing my ...</p>\n\n<a href=\"https://www.thestreet.com/apple/news/2-crucial-lessons-from-cathie-wood-about-apple-stock\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.thestreet.com/apple/news/2-crucial-lessons-from-cathie-wood-about-apple-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190309980","content_text":"Cathie Wood’s ARK Invest is not much of an investor in Apple stock. But the famed fund manager has offered valuable advice about the Cupertino company’s shares that is worth revisiting.\n\nIn doing my daily research of Apple stock (AAPL) -Get Report, I stumbled upon a gem from Ark Invest’s CEO, CIO and rockstar money manager Cathie Wood. In January 2016, during aninterviewwith CNBC, she was asked which stock seemed like a better buy at the time: AAPL or AMZN.\nConsidering Apple stock’s loss of 5% in 2015, her response was the following:\n\n “At this moment, […] Apple might be, because […] the thinking there is so short term. […] Apple is going to become a big company, and [the stock] has been depressed recently by channel checks: how iPhone sales will do in the first quarter, or in the second quarter.”\n\nSince this interview, Apple share price climbed a whopping 400%-plus in just over five years.\n#1. Buying quality on weakness\nThe first important lesson from Ms. Wood’s 2016 insight above is that high-quality companies, whose stocks are likely to climb over time, should be bought on weakness. The logic is simple: if the long-term trend is up, buy shares when the market is selling them at a discount.\nI put some numbers around this ideaa couple of months ago. Historically, it has made much more sense to buy AAPL when shares declined from a previous peak.\nThe chart below shows the historical average one-year return in Apple stock under different scenarios. Notice that, the more shares dip, the higher the future returns have been.\nFollowing the same logic, current Apple investors might be encouraged that the stock remains under water: 12% below the January 2021 top of $143. Should AAPL make fresh all-time highs soon, asI recently speculated that it could, returns for the remainder of the year may start to look appealing.\n#2. Filtering out short-term noise\nThe second point made by Cathie Wood is at least as important. In her view, Apple stock was under pressure in 2015 and early 2016 due to short-term concerns over smartphone sales in the following couple of quarters, especially after the blockbuster release of the iPhone 6.\nIn analyzing market movements, I believe it helps to think about the real drivers of share price: buyers and sellers of the stock. Sometimes, people on both sides of the transaction are more concerned about how a stock might perform in the near term, possibly hoping to make a quick buck – and this is just fine.\nIn these cases, long-term buyers are probably better off ignoring “short term noise” about what sales or earnings might look like right around the corner. Better yet, they might want to take advantage of selling pressures created by short-term traders to enter a position at better prices.\nApple might be faced with a similar setup in 2021. The chatter on Wall Street seems torevolve around the company’s follow throughto a successful pandemic year and launch of the first 5G-capable iPhone.\nBut look beyond the next 12 months, and one might find it easier to make a bullish case on Apple stock. The company continues to grow revenues, expand margins, pile on cash, while it has yet to tap intoopportunities in mixed realityandautonomous vehicles.\nTwitter speaks\nBig Tech stocks like Amazon and Apple are a tiny piece of famed investor Cathie Wood’s ARK portfolios. In your view, which of the following FAAMG names would deserve higher allocation in a tech disrupter and innovator ETF? Leave your vote below on our partner's Twitter, @AmazonMaven.\n\nIs the price right?\nLooking at a company’s business fundamentals is only half the work needed to find a good stock. How much one pays to own the shares is a key factor in the success of any investment. This is why valuation analysis is so important.\nAlpha Spread’suser-friendly platform allows you to estimate a stock’s fair value –through valuation multiples, discounted cash flow, and more. I believe that the service is a must for anyone looking to own the right stock at the right price.Check out alphaspread.comand get started with a 7-day free trial.","news_type":1},"isVote":1,"tweetType":1,"viewCount":122,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":699795072,"gmtCreate":1639889340833,"gmtModify":1639889340833,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Yes!!!","listText":"Yes!!!","text":"Yes!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/699795072","isVote":1,"tweetType":1,"viewCount":319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690650709,"gmtCreate":1639665628356,"gmtModify":1639665628446,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690650709","isVote":1,"tweetType":1,"viewCount":591,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":844099159,"gmtCreate":1636374912574,"gmtModify":1636374912704,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/844099159","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":846975039,"gmtCreate":1636043598791,"gmtModify":1636043608198,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/846975039","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":515,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848498531,"gmtCreate":1636017435964,"gmtModify":1636017436056,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Apple!&nbsp;","listText":"Apple!&nbsp;","text":"Apple!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848498531","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":378,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848292772,"gmtCreate":1635999442057,"gmtModify":1635999442147,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848292772","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":195,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":843085924,"gmtCreate":1635782595676,"gmtModify":1635782595952,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Yup","listText":"Yup","text":"Yup","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/843085924","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":444,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":840748721,"gmtCreate":1635694585929,"gmtModify":1635694586037,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/840748721","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":857369193,"gmtCreate":1635509166821,"gmtModify":1635509166914,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Great&nbsp;","listText":"Great&nbsp;","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/857369193","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":225,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":857387239,"gmtCreate":1635508996655,"gmtModify":1635508996784,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Yes&nbsp;","listText":"Yes&nbsp;","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/857387239","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":333,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":160355947,"gmtCreate":1623773341589,"gmtModify":1634028455933,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/160355947","repostId":"1180386317","repostType":2,"repost":{"id":"1180386317","pubTimestamp":1622616520,"share":"https://www.laohu8.com/m/news/1180386317?lang=&edition=full","pubTime":"2021-06-02 14:48","market":"us","language":"en","title":"Buy Boeing Stock Because ‘a Change Is Gonna Come’","url":"https://stock-news.laohu8.com/highlight/detail?id=1180386317","media":"Barrons","summary":"Stock in Boeing caught an upgrade Tuesday as a Wall Street analyst noted that things are looking up for the commercial aerospace giant and the industry as a whole.Cowen analyst Cai von Rumohr upgraded the shares to Buy from Hold and raised his target for the price to $290 from $240 a share. His belief that “a change is gonna come” underpins his more bullish view.The first change is air traffic. Air travel is picking up after a moribund, pandemic-affected 2020. More than1.9 million people boarded","content":"<p>Stock in Boeing caught an upgrade Tuesday as a Wall Street analyst noted that things are looking up for the commercial aerospace giant and the industry as a whole.</p>\n<p>Boeing stock (ticker: BA) was up 3% on Tuesday. </p>\n<p>Cowen analyst&nbsp;Cai von Rumohr&nbsp;upgraded the shares to Buy from Hold and raised his target for the price to $290 from $240 a share. His belief that “a change is gonna come” underpins his more bullish view.</p>\n<p>The first change is air traffic. Air travel is picking up after a moribund, pandemic-affected 2020. More than1.9 million people&nbsp;boarded planes in the U.S. on Monday, the highest level since March 2020. Over the holiday weekend, U.S. commercial air traffic was down less than 30% compared with 2019, a smaller drop than on recent weekends.</p>\n<p>More people on planes is good news for all aerospace-related stocks.</p>\n<p>Von Rumohr also sees a change coming in demand for commercial aircraft. Governments and airlines are increasingly focused on reducing emissions of carbon dioxide, and new planes emit less of the greenhouse gas, so replacement demand could rise faster than investors expect. Lower operating costs, of course, are an additional reason to replace planes.</p>\n<p>He also pointed out that the global fleet of wide-body, or twin-aisle aircraft, is older than the narrow-body aircraft in use. That makes them more likely to be replaced. A snapback in wide-body order rates has the potential to help Boeing a little more than&nbsp;Airbus&nbsp;(AIR.France) because Boeing has a bigger market share in wide-bodies. Still, any order pickup will benefit both.</p>\n<p>As air traffic returns to normal, potentially emboldening airlines to buy, von Rumohr projects Boeing will generate $21 of free cash flow per share by 2024. That cash flow supports his $290&nbsp;target price.</p>\n<p>Right now, Boeing is burning through cash because deliveries dropped dramatically amid Covid-19 lockdowns. In 2017 and 2018, before the pandemic, and before the 737 MAX jet was grounded in 2019, Boeing generated more than $20 in free cash flow per share.</p>\n<p>While the S&amp;P 500 trades for a free cash yield—essentially free cash flow divided by the stock price—of about 3%, Boeing has historically traded for a yield closer to 6%. With $21 in free cash flow and a yield of 6%, a share price of $350 is possible by 2024, offering attractive returns in coming years with shares trading at about $250.</p>\n<p>With the upgrade, 53% of analysts covering the stock rate shares at Buy. The&nbsp;average&nbsp;Buy-rating ratio for stocks in the S&amp;P 500 is about 55%.</p>\n<p>Boeing was a much more popular stock before the pandemic and the grounding of the 737 MAX jet between March 2019 and December 2020. In February 2019, more than 76% of analysts covering the company rated shares Buy. The share price was almost $400.</p>\n<p>Boeing stock rose 1% in 2019 and dropped 34% in 2020. Shares are up about 19% year to date, better than comparable gains of the overall market.</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>Buy Boeing Stock Because ‘a Change Is Gonna Come’</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\">\nBuy Boeing Stock Because ‘a Change Is Gonna Come’\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 14:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/buy-boeing-stock-cowen-rating-upgrade-51622566557?mod=hp_LEADSUPP_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stock in Boeing caught an upgrade Tuesday as a Wall Street analyst noted that things are looking up for the commercial aerospace giant and the industry as a whole.\nBoeing stock (ticker: BA) was up 3% ...</p>\n\n<a href=\"https://www.barrons.com/articles/buy-boeing-stock-cowen-rating-upgrade-51622566557?mod=hp_LEADSUPP_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BA":"波音"},"source_url":"https://www.barrons.com/articles/buy-boeing-stock-cowen-rating-upgrade-51622566557?mod=hp_LEADSUPP_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180386317","content_text":"Stock in Boeing caught an upgrade Tuesday as a Wall Street analyst noted that things are looking up for the commercial aerospace giant and the industry as a whole.\nBoeing stock (ticker: BA) was up 3% on Tuesday. \nCowen analyst Cai von Rumohr upgraded the shares to Buy from Hold and raised his target for the price to $290 from $240 a share. His belief that “a change is gonna come” underpins his more bullish view.\nThe first change is air traffic. Air travel is picking up after a moribund, pandemic-affected 2020. More than1.9 million people boarded planes in the U.S. on Monday, the highest level since March 2020. Over the holiday weekend, U.S. commercial air traffic was down less than 30% compared with 2019, a smaller drop than on recent weekends.\nMore people on planes is good news for all aerospace-related stocks.\nVon Rumohr also sees a change coming in demand for commercial aircraft. Governments and airlines are increasingly focused on reducing emissions of carbon dioxide, and new planes emit less of the greenhouse gas, so replacement demand could rise faster than investors expect. Lower operating costs, of course, are an additional reason to replace planes.\nHe also pointed out that the global fleet of wide-body, or twin-aisle aircraft, is older than the narrow-body aircraft in use. That makes them more likely to be replaced. A snapback in wide-body order rates has the potential to help Boeing a little more than Airbus (AIR.France) because Boeing has a bigger market share in wide-bodies. Still, any order pickup will benefit both.\nAs air traffic returns to normal, potentially emboldening airlines to buy, von Rumohr projects Boeing will generate $21 of free cash flow per share by 2024. That cash flow supports his $290 target price.\nRight now, Boeing is burning through cash because deliveries dropped dramatically amid Covid-19 lockdowns. In 2017 and 2018, before the pandemic, and before the 737 MAX jet was grounded in 2019, Boeing generated more than $20 in free cash flow per share.\nWhile the S&P 500 trades for a free cash yield—essentially free cash flow divided by the stock price—of about 3%, Boeing has historically traded for a yield closer to 6%. With $21 in free cash flow and a yield of 6%, a share price of $350 is possible by 2024, offering attractive returns in coming years with shares trading at about $250.\nWith the upgrade, 53% of analysts covering the stock rate shares at Buy. The average Buy-rating ratio for stocks in the S&P 500 is about 55%.\nBoeing was a much more popular stock before the pandemic and the grounding of the 737 MAX jet between March 2019 and December 2020. In February 2019, more than 76% of analysts covering the company rated shares Buy. The share price was almost $400.\nBoeing stock rose 1% in 2019 and dropped 34% in 2020. Shares are up about 19% year to date, better than comparable gains of the overall market.","news_type":1},"isVote":1,"tweetType":1,"viewCount":116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160352652,"gmtCreate":1623773328976,"gmtModify":1634028456296,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/160352652","repostId":"1146386859","repostType":2,"repost":{"id":"1146386859","pubTimestamp":1623417074,"share":"https://www.laohu8.com/m/news/1146386859?lang=&edition=full","pubTime":"2021-06-11 21:11","market":"us","language":"en","title":"NIO: Buy This Chinese EV Manufacturer While It's Still Cheap","url":"https://stock-news.laohu8.com/highlight/detail?id=1146386859","media":"seekingalpha","summary":"NIO is a dominant EV manufacturer in the electric SUV segment in China.Despite competing in the luxurious SUV segment, its cars are more affordable in comparison to the cars of its peers such as Tesla.As the Chinese EV market will continue to aggressively expand in the upcoming years, we believe that NIO has all the chances to create additional shareholder value in the future.Founded in 2014, NIO is an electric vehicle manufacturer that's headquartered in Shanghai, China. The company mostly spec","content":"<p><b>Summary</b></p>\n<ul>\n <li>NIO is a dominant EV manufacturer in the electric SUV segment in China.</li>\n <li>Despite competing in the luxurious SUV segment, its cars are more affordable in comparison to the cars of its peers such as Tesla.</li>\n <li>As the Chinese EV market will continue to aggressively expand in the upcoming years, we believe that NIO has all the chances to create additional shareholder value in the future.</li>\n</ul>\n<p>NIO(NYSE:NIO)is a dominant EV manufacturer in the electric SUV segment in China. It has been constantly increasing its deliveries every quarter, its revenues have been growing at a triple-digit rate in recent years, and despite competing in the luxurious SUV segment, its cars are more affordable in comparison to the cars of its peers such as Tesla(NASDAQ:TSLA). While NIO's stock has depreciated last month, there's every reason to believe that its growth story is far from over, as the Chinese EV market will continue to aggressively expand in the upcoming years and the penetration of electric vehicles on its roads is only going to increase. Considering this, the company has all the chances to create additional shareholder value in the long run.</p>\n<p><b>Dominating the Chinese Market</b></p>\n<p>Founded in 2014, NIO is an electric vehicle manufacturer that's headquartered in Shanghai, China. The company mostly specializes in the development of luxurious electric SUVs and just likeXPeng(XPEV), it manufactures and sells its cars online and through its showrooms across China. In addition, NIO also offers various energy-related solutions such as home charging stations, mobile charging services, and others to its customers.</p>\n<p>In recent years, the company has been aggressively growing, as the deliveries of its cars have been steadily increasing quarter after quarter, which led to the appreciation of its stock. However, due to the overall market selloff last month, NIO's stock along with stocks of other EV manufacturers such as XPeng, Tesla, and Li Auto (LI) evaporated most of its YTD gains and are currently underperforming the S&amp;P 500 Index.</p>\n<p><img src=\"https://static.tigerbbs.com/23b2ed509a529a876c423f3e9426be3f\" tg-width=\"1280\" tg-height=\"443\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Chart: Seeking Alpha</i></p>\n<p>Despite this, there's every reason to believe that NIO's stock will recover, as the company's successful performance in Q1 shows that its growth story is far from over. InQ1alone NIO beat the Street expectations by $160 million and generated $1.22 billion in revenues, which represents an increase of 481.8% Y/Y. In addition, the company's gross profit was $237.3 million, while its vehicle margin was 21.2% against -7.4% a year ago. During the period, NIO has also improved its bottom-line performance, as its net loss was only $68.8 million, and despite the chip shortages and the Chinese New Year its deliveries have also increased by 422.7% Y/Y and by 15.6% Q/Q to 20,060.</p>\n<p>One of the best things about NIO is that it already has a dominant position in the Chinese EV industry and it also has a solid balance sheet, as its cash reserves at the end of Q1stoodat $7.2 billion, while it had only $1.59 billion in long-term debt. As a result, it can easily reinvest its resources back into the business to drive growth and establish an even stronger foothold in its home market without worrying too much about the current losses.</p>\n<p>On top of that, while some might say that by trading at a price-to-salesratioof ~13x NIO is overvalued, the reality is that its momentum is not slowing down and there's every reason to believe that the growth story is far from over. Considering that even at the market cap of ~$70 billion NIO still trades below the Streetconsensusprice of $59.24 per share, it's safe to assume that the upside is still there, especially since the current forecasts suggest that the company will increase its revenues from $2.49 billion in FY20 to $8.81 billion in FY22.</p>\n<p><img src=\"https://static.tigerbbs.com/71905e5a90565b6a7e8864b3f6b0c226\" tg-width=\"883\" tg-height=\"382\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Source: Seeking Alpha</i></p>\n<p>At this stage, the major competitor of NIO's flagship SUVES8is Tesla's Model X. However, there are several reasons to believe that the ES8 is a more attractive car in comparison to the Model X, and as a result, NIO has all the opportunities to outsell its competitor in China in the long run. First of all, the ES8 has more legroom and headroom than the Model X, it also has a luxurious interior, and it comes with three different battery packages that could last from 415 kilometers to 580 kilometers on a single charge.</p>\n<p>All of the ES8 SUVs include a proprietary operating system, have advanced navigation software, and most importantly cost ~$70,000 per vehicle in China, which is below the cost of Tesla's Model X, which comes at a price tag of ~$110,000 per vehicle in the region. We believe that this pricing advantage will undoubtedly help NIO to outsell Tesla in the SUV segment, especially since its cars now could bepurchasedat a discount thanks to the new Chinese subsidy program.</p>\n<p>Another uniqueness of NIO is its battery as a service business model, which allows its customers to swap their batteries in various swapping stations around China if they don't want to charge their cars or are in a hurry. After recently deploying the second version of its Power Swap stations, the swapping of batteries is now done in under three minutes, which is the same as refueling a traditional ICE car, and a single station now could perform up to 312 battery swaps in a single day. NIO now has a network of charging stations across all of China and if the solid-state batteries won't be available by the end of the decade at scale, then the idea of swapping batteries on the go will remain a viable business model in the long run.</p>\n<p>Going forward, NIO plans to accelerate its deliveries this month in order to meet its Q2 goal of delivering 21,000 to 22,000 vehicles, which represents a growth of 103% Y/Y to 113% Y/Y and plans to generate $1.24 to $1.29 billion in revenues during the period. Despite the semiconductor shortages, NIO already managed to increase its deliveries in April and May to 7,102 vehicles and 6,711 vehicles, respectively, which represents a growth of 125% Y/Y and 95.3% Y/Y, respectively. On top of that, NIO is also on track to deliver 90,000 to 100,000 vehicles this year.</p>\n<p>Considering this, there's every reason to believe that NIO will continue to be a dominant player in the Chinese EV market and a leader of the luxury EV segment in the region. While the company doesn't have an infrastructure outside China, we don't think that's a downside at all since China is the biggest EV market in the world that's constantly growing and NIO has better chances of creating shareholder value there than abroad. For that reason, we believe that NIO's growth story is far from over and it's likely that as long as its deliveries increase with every quarter, its stock will be rising in value in the long run.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Buy This Chinese EV Manufacturer While It's Still Cheap</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: Buy This Chinese EV Manufacturer While It's Still Cheap\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4434085-nio-buy-this-chinese-ev-manufacturer-while-its-still-cheap><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nNIO is a dominant EV manufacturer in the electric SUV segment in China.\nDespite competing in the luxurious SUV segment, its cars are more affordable in comparison to the cars of its peers ...</p>\n\n<a href=\"https://seekingalpha.com/article/4434085-nio-buy-this-chinese-ev-manufacturer-while-its-still-cheap\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4434085-nio-buy-this-chinese-ev-manufacturer-while-its-still-cheap","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1146386859","content_text":"Summary\n\nNIO is a dominant EV manufacturer in the electric SUV segment in China.\nDespite competing in the luxurious SUV segment, its cars are more affordable in comparison to the cars of its peers such as Tesla.\nAs the Chinese EV market will continue to aggressively expand in the upcoming years, we believe that NIO has all the chances to create additional shareholder value in the future.\n\nNIO(NYSE:NIO)is a dominant EV manufacturer in the electric SUV segment in China. It has been constantly increasing its deliveries every quarter, its revenues have been growing at a triple-digit rate in recent years, and despite competing in the luxurious SUV segment, its cars are more affordable in comparison to the cars of its peers such as Tesla(NASDAQ:TSLA). While NIO's stock has depreciated last month, there's every reason to believe that its growth story is far from over, as the Chinese EV market will continue to aggressively expand in the upcoming years and the penetration of electric vehicles on its roads is only going to increase. Considering this, the company has all the chances to create additional shareholder value in the long run.\nDominating the Chinese Market\nFounded in 2014, NIO is an electric vehicle manufacturer that's headquartered in Shanghai, China. The company mostly specializes in the development of luxurious electric SUVs and just likeXPeng(XPEV), it manufactures and sells its cars online and through its showrooms across China. In addition, NIO also offers various energy-related solutions such as home charging stations, mobile charging services, and others to its customers.\nIn recent years, the company has been aggressively growing, as the deliveries of its cars have been steadily increasing quarter after quarter, which led to the appreciation of its stock. However, due to the overall market selloff last month, NIO's stock along with stocks of other EV manufacturers such as XPeng, Tesla, and Li Auto (LI) evaporated most of its YTD gains and are currently underperforming the S&P 500 Index.\n\nChart: Seeking Alpha\nDespite this, there's every reason to believe that NIO's stock will recover, as the company's successful performance in Q1 shows that its growth story is far from over. InQ1alone NIO beat the Street expectations by $160 million and generated $1.22 billion in revenues, which represents an increase of 481.8% Y/Y. In addition, the company's gross profit was $237.3 million, while its vehicle margin was 21.2% against -7.4% a year ago. During the period, NIO has also improved its bottom-line performance, as its net loss was only $68.8 million, and despite the chip shortages and the Chinese New Year its deliveries have also increased by 422.7% Y/Y and by 15.6% Q/Q to 20,060.\nOne of the best things about NIO is that it already has a dominant position in the Chinese EV industry and it also has a solid balance sheet, as its cash reserves at the end of Q1stoodat $7.2 billion, while it had only $1.59 billion in long-term debt. As a result, it can easily reinvest its resources back into the business to drive growth and establish an even stronger foothold in its home market without worrying too much about the current losses.\nOn top of that, while some might say that by trading at a price-to-salesratioof ~13x NIO is overvalued, the reality is that its momentum is not slowing down and there's every reason to believe that the growth story is far from over. Considering that even at the market cap of ~$70 billion NIO still trades below the Streetconsensusprice of $59.24 per share, it's safe to assume that the upside is still there, especially since the current forecasts suggest that the company will increase its revenues from $2.49 billion in FY20 to $8.81 billion in FY22.\n\nSource: Seeking Alpha\nAt this stage, the major competitor of NIO's flagship SUVES8is Tesla's Model X. However, there are several reasons to believe that the ES8 is a more attractive car in comparison to the Model X, and as a result, NIO has all the opportunities to outsell its competitor in China in the long run. First of all, the ES8 has more legroom and headroom than the Model X, it also has a luxurious interior, and it comes with three different battery packages that could last from 415 kilometers to 580 kilometers on a single charge.\nAll of the ES8 SUVs include a proprietary operating system, have advanced navigation software, and most importantly cost ~$70,000 per vehicle in China, which is below the cost of Tesla's Model X, which comes at a price tag of ~$110,000 per vehicle in the region. We believe that this pricing advantage will undoubtedly help NIO to outsell Tesla in the SUV segment, especially since its cars now could bepurchasedat a discount thanks to the new Chinese subsidy program.\nAnother uniqueness of NIO is its battery as a service business model, which allows its customers to swap their batteries in various swapping stations around China if they don't want to charge their cars or are in a hurry. After recently deploying the second version of its Power Swap stations, the swapping of batteries is now done in under three minutes, which is the same as refueling a traditional ICE car, and a single station now could perform up to 312 battery swaps in a single day. NIO now has a network of charging stations across all of China and if the solid-state batteries won't be available by the end of the decade at scale, then the idea of swapping batteries on the go will remain a viable business model in the long run.\nGoing forward, NIO plans to accelerate its deliveries this month in order to meet its Q2 goal of delivering 21,000 to 22,000 vehicles, which represents a growth of 103% Y/Y to 113% Y/Y and plans to generate $1.24 to $1.29 billion in revenues during the period. Despite the semiconductor shortages, NIO already managed to increase its deliveries in April and May to 7,102 vehicles and 6,711 vehicles, respectively, which represents a growth of 125% Y/Y and 95.3% Y/Y, respectively. On top of that, NIO is also on track to deliver 90,000 to 100,000 vehicles this year.\nConsidering this, there's every reason to believe that NIO will continue to be a dominant player in the Chinese EV market and a leader of the luxury EV segment in the region. While the company doesn't have an infrastructure outside China, we don't think that's a downside at all since China is the biggest EV market in the world that's constantly growing and NIO has better chances of creating shareholder value there than abroad. For that reason, we believe that NIO's growth story is far from over and it's likely that as long as its deliveries increase with every quarter, its stock will be rising in value in the long run.","news_type":1},"isVote":1,"tweetType":1,"viewCount":569,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160350441,"gmtCreate":1623773226783,"gmtModify":1634028460863,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/160350441","repostId":"2143578147","repostType":2,"isVote":1,"tweetType":1,"viewCount":83,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160326562,"gmtCreate":1623773140856,"gmtModify":1634028464691,"author":{"id":"3576156131829756","authorId":"3576156131829756","name":"Thiogui","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576156131829756","authorIdStr":"3576156131829756"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/160326562","repostId":"2143752015","repostType":2,"isVote":1,"tweetType":1,"viewCount":163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}