Apipu的个人主页 - 老虎社区

Apipu

暂无个人介绍

IP属地：未知

75关注

5粉丝

0主题

0勋章

2021-12-17

$Carnival(CCL)$waitingggg

2021-10-18

$Norwegian Cruise Line(NCLH)$waiting

2021-10-15

$Vale SA(VALE)$😭😭

2021-10-12

$Vale SA(VALE)$

2021-10-06

$ProShares Ultra VIX Short Term Futures(UVXY)$waiting

2021-10-05

$Vale SA(VALE)$what is a good entry price?

2021-09-29

Good

抱歉，原内容已删除

2021-09-29

$Bank of America(BAC)$hedge risk against increasing intetest rate

2021-09-28

$Canada Goose(GOOS)$winter is coming

2021-09-28

Good

Apple: It's Never Too Late To Invest In AAPL, Especially As They Buy Back Shares

2021-09-27

Hais

Debt ceiling debates in Congress, consumer confidence: What to know this week

2021-09-27

$WILMAR INTERNATIONAL LIMITED(F34.SI)$🥲

2021-09-26

$ProShares Ultra VIX Short Term Futures(UVXY)$

2021-09-07

$PARKWAYLIFE REIT(C2PU.SI)$waiting for a good entry price

2021-08-19

Waiting for a good entry point to prepare for Winter

2021-08-17

$ProShares UltraPro Short QQQ(SQQQ)$finally

2021-08-16

Still waiting for a good entry point to ride along future increase in interest rate

2021-08-16

$ProShares Ultra VIX Short Term Futures(UVXY)$buy tto hedge my consumer product stocks

2021-08-15

Upupupup

2021-08-15

$ProShares Ultra VIX Short Term Futures(UVXY)$hold?

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3578306475134606","uuid":"3578306475134606","gmtCreate":1615249820054,"gmtModify":1704447507059,"name":"Apipu","pinyin":"apipu","introduction":"","introductionEn":"","signature":"","avatar":"https://static.laohu8.com/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":5,"headSize":75,"tweetSize":77,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":3,"name":"书生虎","nameTw":"書生虎","represent":"努力向上","factor":"发布10条非转发主帖,其中5条获得他人回复或点赞","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":"e50ce593bb40487ebfb542ca54f6a561-2","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"资深虎友","description":"加入老虎社区1000天","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.12.05","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"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":"60.45%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"35ec162348d5460f88c959321e554969-2","templateUuid":"35ec162348d5460f88c959321e554969","name":"宗师交易员","description":"证券或期货账户累计交易次数达到100次","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"80.75%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"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}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":3,"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":"post","tweets":[{"id":699355004,"gmtCreate":1639752085310,"gmtModify":1639752292204,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CCL\">$Carnival(CCL)$</a>waitingggg","listText":"<a href=\"https://laohu8.com/S/CCL\">$Carnival(CCL)$</a>waitingggg","text":"$Carnival(CCL)$waitingggg","images":[{"img":"https://static.tigerbbs.com/f5ff8e08a017614e780722df38ce4359","width":"1080","height":"2977"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/699355004","isVote":1,"tweetType":1,"viewCount":2097,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":850178370,"gmtCreate":1634567677752,"gmtModify":1634567743465,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NCLH\">$Norwegian Cruise Line(NCLH)$</a>waiting","listText":"<a href=\"https://laohu8.com/S/NCLH\">$Norwegian Cruise Line(NCLH)$</a>waiting","text":"$Norwegian Cruise Line(NCLH)$waiting","images":[{"img":"https://static.tigerbbs.com/bbf44a8c80e650f5a99cc35fb95b9a78","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/850178370","isVote":1,"tweetType":1,"viewCount":1940,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":825718676,"gmtCreate":1634257614414,"gmtModify":1634274403521,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/VALE\">$Vale SA(VALE)$</a>😭😭","listText":"<a href=\"https://laohu8.com/S/VALE\">$Vale SA(VALE)$</a>😭😭","text":"$Vale SA(VALE)$😭😭","images":[{"img":"https://static.tigerbbs.com/f4d73cdf297a53b7a75cc7e95ba6c510","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/825718676","isVote":1,"tweetType":1,"viewCount":2329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":826443776,"gmtCreate":1634049227204,"gmtModify":1634049266138,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/VALE\">$Vale SA(VALE)$</a>[流泪]&nbsp;","listText":"<a href=\"https://laohu8.com/S/VALE\">$Vale SA(VALE)$</a>[流泪]&nbsp;","text":"$Vale SA(VALE)$[流泪]","images":[{"img":"https://static.tigerbbs.com/a56eba918eaaac9116dbb0ad67248708","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/826443776","isVote":1,"tweetType":1,"viewCount":1526,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":829553584,"gmtCreate":1633528945838,"gmtModify":1633528945994,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/UVXY\">$ProShares Ultra VIX Short Term Futures(UVXY)$</a>waiting","listText":"<a href=\"https://laohu8.com/S/UVXY\">$ProShares Ultra VIX Short Term Futures(UVXY)$</a>waiting","text":"$ProShares Ultra VIX Short Term Futures(UVXY)$waiting","images":[{"img":"https://static.tigerbbs.com/f928d8d43f8c0689829930ce497090c6","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/829553584","isVote":1,"tweetType":1,"viewCount":1646,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":829033650,"gmtCreate":1633441757731,"gmtModify":1633441758430,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/VALE\">$Vale SA(VALE)$</a>what is a good entry price?","listText":"<a href=\"https://laohu8.com/S/VALE\">$Vale SA(VALE)$</a>what is a good entry price?","text":"$Vale SA(VALE)$what is a good entry price?","images":[{"img":"https://static.tigerbbs.com/7003c878ed370d05472305a08a912cb1","width":"1080","height":"3115"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/829033650","isVote":1,"tweetType":1,"viewCount":2115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":862746233,"gmtCreate":1632919370063,"gmtModify":1632919372311,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"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/862746233","repostId":"2171841989","repostType":4,"isVote":1,"tweetType":1,"viewCount":1849,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862684075,"gmtCreate":1632875822361,"gmtModify":1632875822361,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BAC\">$Bank of America(BAC)$</a>hedge risk against increasing intetest rate","listText":"<a href=\"https://laohu8.com/S/BAC\">$Bank of America(BAC)$</a>hedge risk against increasing intetest rate","text":"$Bank of America(BAC)$hedge risk against increasing intetest rate","images":[{"img":"https://static.tigerbbs.com/134d46f419c2d61691c6f3278b682232","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862684075","isVote":1,"tweetType":1,"viewCount":1384,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":862199967,"gmtCreate":1632841526776,"gmtModify":1632841526842,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GOOS\">$Canada Goose(GOOS)$</a>winter is coming","listText":"<a href=\"https://laohu8.com/S/GOOS\">$Canada Goose(GOOS)$</a>winter is coming","text":"$Canada Goose(GOOS)$winter is coming","images":[{"img":"https://static.tigerbbs.com/88d47777581ca81fabe92e1640651e98","width":"1080","height":"3013"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862199967","isVote":1,"tweetType":1,"viewCount":1434,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":862190361,"gmtCreate":1632841454490,"gmtModify":1632841454571,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/862190361","repostId":"1152246777","repostType":4,"repost":{"id":"1152246777","kind":"news","pubTimestamp":1632839983,"share":"https://www.laohu8.com/m/news/1152246777?lang=&edition=full","pubTime":"2021-09-28 22:39","market":"us","language":"en","title":"Apple: It's Never Too Late To Invest In AAPL, Especially As They Buy Back Shares","url":"https://stock-news.laohu8.com/highlight/detail?id=1152246777","media":"Seeking Alpha","summary":"Summary\n\nGoing into Q4 earnings, Apple is on track to deliver a blowout year, breaking previous mile","content":"<p><b>Summary</b></p>\n<ul>\n <li>Going into Q4 earnings, Apple is on track to deliver a blowout year, breaking previous milestones from total revenue to net income.</li>\n <li>Apple continues to deliver tremendous shareholder value by increasing the amount of capital they plan on allocating to their buyback program.</li>\n <li>Compared to their peers, AAPL looks cheap and this recent pullback is an opportunity if you have a long-term time horizon.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/96ee1636e4c2fc8616107ba5930de843\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>Stephen Lam/Getty Images News</span></p>\n<p>I don't believe there is ever a bad time to buy shares of Apple(NASDAQ:AAPL)if you have a long-term investment horizon. If you were to go back in time, no matter which milestone was being discussed, from reaching a $500 billion, $1 trillion, or a $2 trillion market cap, AAPL pushed right through the barrier over time. In the future, we will be discussing AAPL reaching a $5 trillion market cap. Don't look at AAPL in the past tense as a company that has undergone several stock splits and grown into a $2.43 trillion company. Look at AAPL as one of the most beloved companies in America that has generated $94.77 billion in Free Cash Flow (FCF) in the Trailing Twelve Months (TTM), with a 5-year average of $67.49 billion FCF. Look at AAPL as a company that produces a 41.66% gross profit margin and a 26.24% profit margin which has correlated to $86.8 billion of net income in the TTM. Most importantly, look at what AAPL has done for its shareholders over the last decade as they have repurchased 9.59 billion shares or 36.58% of the company while paying out $113.4 billion in dividends. Regardless if you missed the previous appreciation AAPL has created for shareholders, if you're a new investor or are a shareholder looking to add to your position, I don't believe there is ever a bad time to buy shares of AAPL.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9ffdf55aa2d9fa5c00e186f3d8d57c80\" tg-width=\"640\" tg-height=\"167\" width=\"100%\" height=\"auto\"><span>Source: TD</span></p>\n<p><b>Understanding why Apple's share buybacks are important to shareholders</b></p>\n<p>I have written about AAPL and read many of the other articles written about AAPL on Seeking Alpha for years. There are always&nbsp;comments&nbsp;about how Tim Cook (Apple CEO) and Luca Maestri (Apple CFO) are incompetent, financially mismanaging the company, and that the buybacks are useless. I have never seen a management team and board of directors care as much about their shareholders as the team at AAPL. Since the fiscal year of 2012, AAPL has returned $579.6 billion in capital through share buybacks and dividends to their shareholders while maintaining a net cash position that exceeds $50 billion. I am not aware of a single company that has given back anywhere close to this amount of capital to their shareholders while reinvesting in the company and continuing to innovate and drive revenue and profits.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a1d43ab7c3b0fc84160f7f4db93e3e75\" tg-width=\"640\" tg-height=\"465\" width=\"100%\" height=\"auto\"><span>Source: Apple</span></p>\n<p>Why are share buybacks important? I am of the mindset that dilution can be detrimental to shareholder value. Unless there is a good reason for issuing additional shares, it's one of the biggest red flags, in my opinion, as current shareholder ownership becomes diluted. It's a simple equation if company ABC has 10,000 shares outstanding and you hold 100 shares, you own 1% of the company. If ABC issues 2,500 shares to raise capital, there are now 12,500 shares outstanding, and your ownership in the company automatically gets diluted to 0.80%. If ABC utilized its FCF to initiate a share buyback program and, instead of issuing 2,500 shares, repurchased 2,500 shares on the open market, ABC would be left with 7,500 shares outstanding. Your equity stake in ABC would increase as your 100 shares would now be equivalent to 1.33% of the company. This would also cause the revenue and earnings per share to increase as it would be spread across fewer shares. Hypothetically if ABC generated $1,000,000 in revenue and $100,000 in earnings, based on 10,000 shares, each share of ABC would generate $100 of revenue and $10 of earnings per share. By issuing more shares and bringing the shares outstanding to 12,500, each share would now produce $80 of revenue and $8 of earnings per share. By buying back 2,500 shares instead of issuing 2,500 shares, ABC would now generate $133.33 of revenue and $13.33 earnings per share as they would only have 7,500 shares outstanding.</p>\n<p>When AAPL buys back shares, it isn't financial manipulation; they reward their shareholders by increasing the percentage of AAPL those shares owned. AAPL generates a tremendous amount of FCF, and its philosophy is to reward shareholders by giving them back a portion of the cash generated through buybacks and dividends. Over the last decade, AAPL's FCF has increased from $41.68 billion to $94.77 billion in the TTM on an annual basis. The fiscal year of 2021 has been well above AAPL's previous years, so if you were to use their 5-year average, FCF has increased from $41.68 billion to $67.49 billion on an annual basis. AAPL's buybacks aren't manipulation and shouldn't be viewed as financial mismanagement. Over the past 7 quarters, AAPL has bought back $138 billion in shares at an average rate of $19.71 billion per quarter. Each quarter AAPL repurchases shares, increasing the equity position your shares represent and increasing the amount of revenue and earnings per share your shares generate. This should be celebrated as AAPL creates shareholder value instead of hoarding cash.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bce847a3d944ecfcecbde546cba70011\" tg-width=\"640\" tg-height=\"128\" width=\"100%\" height=\"auto\"><span>Source: Everything Money</span></p>\n<p>I recently&nbsp;wrote an article on Tesla (TSLA), and their management team has done the exact opposite of AAPL. Granted, TSLA is a growth company and has used the capital generated to grow its company but it's a perfect example of share dilution. At the end of 2011, TSLA had 522.7 million total common shares outstanding. As of the last report, TSLA had 984 million common shares outstanding. Over the past decade, TSLA has diluted shareholders by 88.15%. TSLA has issued 176.2 million new shares in the past five years and diluted its shareholders by 21.81% over that period. Issuing shares isn't always a negative, and to be fair toTSLA, they used the capital generated from issuing shares to grow their business. Since 2011 TSLA has increased its revenue from $204.2 million to $41.66 billion in the TTM (20,400%) and its revenue per share from $0.41 to $43.81, an increase of 10,585%. Even though TSLA has done a fantastic job of building out its company and generating tens of billions in annual revenue, its long-term shareholders have been diluted by 88.15% over the last decade.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/332406c13d71427099656a8db4cad2a6\" tg-width=\"640\" tg-height=\"288\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha</span></p>\n<p>On 4/28/21, AAPL announced that its board of directors&nbsp;authorized an increase of $90 billion to its existing share repurchase program. Based on the current $2.43 trillion valuation, AAPL's board added enough capital to buy back an additional 3.7% of shares on the open market. Based on the data from the past decade, AAPL will continue to be shareholder-friendly as their capital allocation efforts have increased alongside their FFC. I am shocked that anyone would consider this financial mismanagement. AAPL's share buyback program is another reason to own this great company. Each quarter AAPL buys back shares, increasing the percentage of equity in AAPL that your shares represent. The dedication AAPL has shown to increasing shareholder value through buybacks is something that shareholders can continue to look forward to as AAPL has continuously repurchased shares throughout every new all-time high share price.</p>\n<p><b>Apple's valuation is ripe for new investments, especially after the recent pullback</b></p>\n<p>Shares of AAPL traded for $134.78 on 6/28/21 and reached $156.68 on 9/7/21. Since then, AAPL experienced a pullback as shares receded to $143.04 on 9/20/21, which is a level we haven't seen since the middle of July. At the end of trading on 9/24321, shares of AAPL had bounced off their recent lows and settled at $146.92. After going through AAPL's metrics and reviewing the 1-year chart, I believe this pullback is an opportunity. Over the past year, AAPL's pullbacks have created higher lows. On October 30thAAPL's first pullback closed at $108.42, then in the next major pullback, AAPL went from $143.22 on 1/25/21 to $116.37 on 3/8/21. AAPL then climbed to $134.79 on 4/19/21 and receded to $122.77 on 5/12/21. Over the summer, AAPL reached $156.69 on 9/7/21 and recently fell to $142.94 on 9/20/21. Over the past year, each of AAPL's pullbacks has made higher lows, and over the year, AAPL has created higher highs. Going into the Q4 results where AAPL is on track to report its best year of operations, I believe this pullback is a good entry point to either start or add to a current position.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f507ba198b1c177f12c6b0189de34cf9\" tg-width=\"640\" tg-height=\"437\" width=\"100%\" height=\"auto\"><span>Source: Seeking Alpha</span></p>\n<p>AAPL,Amazon (AMZN),Alphabet (GOOGL)(NASDAQ:GOOG), and&nbsp;Microsoft (MSFT)&nbsp;are the four largest companies in the S&amp;P 500. When looking at some of the valuation metrics I like to utilize, AAPL looks cheap compared to its peers in Big Tech. Price to Sales is a valuation that compares the stock price to the revenue generated per share. It's an indication of the value placed on each dollar of revenue generated. A lower P/S ratio could indicate that the share price is undervalued. AAPL has a P/S ratio of 7.13 compared to MSFT's of 13.44 and GOOGL's of 8.71. GOOGL has the lowest P/S of the group with 3.89. Price to earnings is used to value a company's share price to the earnings it generates and indicates how much an investor is willing to pay per $1 of earnings. A lower P/E ratio could indicate that a company's share price is undervalued. Today the&nbsp;average P/E ratio&nbsp;of the S&amp;P 500 is 34.75. AAPL has a P/E ratio of 28.53 compared to MSFT's of 36.87, AMZN's of 58.54, and GOOGL's of 30.48. I look at the return on equity to measure each company's profitability in relation to the equity on the books. AAPL has a R/E ratio of 135.04% compared to MSFT's 43.15%, AMZN's 25.64%, and GOOGL's 26.49%. Not many people look at the price to free cash flow metric, but it's an equity valuation metric that indicates a company's ability to generate additional revenues. AAPL trades at a price to FCF multiple of 25.64x while MSFT trades at 40.09x, AMZN at 244.80x, and GOOGL at 32.46x.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/64e086a2bff76c75887a51f9abbcb210\" tg-width=\"593\" tg-height=\"497\" width=\"100%\" height=\"auto\"><span>Source: Steven Fiorillo) (Data Source: Seeking Alpha</span></p>\n<p>AAPL is one of those companies that I believe you should own and add to when you're able to. I am so proud of my wife because she told me she bought more AAPL the other day when the markets pulled back. One of my good friends on our investment group chat has been buying shares of AAPL each month, and I believe he took the opportunity to add to AAPL during the pullback as well. I think AAPL is still a great long-term investment, and compared to its peers, it looks cheap. AAPL trades at just 25.64x its FCF with a P/E of 28.53 compared to the market average of 34.75. AAPL does an incredible job of generating profit from its equity, has an enticing valuation, and buys back shares every quarter; what's not to like?</p>\n<p><b>What are we looking at going into AAPL's Q4 2021 being reported at the end of October?</b></p>\n<p>AAPL doesn't follow a calendar year, and their fiscal year ends on 9/30 each year. When AAPL reports earnings at the end of October, they will be reporting their Q4 and 2021 fiscal year numbers. AAPL has set the stage for the best year in its operating history. AAPL finished 2020 with $274.52 billion in revenue, $104.96 billion of gross profit, and $57.4 billion in net income. In the first 9 months of their 2021 fiscal year, AAPL has produced $282.56 billion of revenue, $117.66 billion in gross profit, and $74.13 billion of net income. In the first 9 months of 2021, AAPL has exceeded its 2020 fiscal year in these three categories. AAPL has forecasted for double-digit YoY growth in&nbsp;Q4 2021, which would place their Q4 revenue at a minimum of $71.16 billion. AAPL has a current gross profit margin of 31.66% and a net income conversion ratio of 26.24%. If AAPL can convert 40% of their revenue to gross profit and 25% to net income, they would finish 2021 with $353.72 billion in revenue, $146.12 billion gross profit, and $91.92 billion in net income.</p>\n<p>I look at every investment as paying a present value for future cash flow. Some people say AAPL is overvalued, and their 2021 fiscal year is an anomaly. I don't have a crystal ball, and we're going to need to see what Tim Cook says on the Q4 earnings call and the projections for the fiscal year 2022. Looking at the chart I constructed below, AAPL had a period in 2016 and 2017 where their revenue fell below 2015's before their growth accelerated. Hypothetically if AAPL's revenue happens to peak for a year or two, it doesn't change my investment thesis as I have a long-term investment horizon for AAPL. From the fiscal year 2012–2017, AAPL repurchased $166 billion of shares which was an average of $27.67 billion annually. When revenue dipped, AAPL still created shareholder value by utilizing its cash to buy back shares. Heading into the close of 2021, AAPL will report a blowout year, and we will get some projections for 2022. AAPL's board has increased the share buyback program by $90 billion, and there is no indication AAPL is slowing down. This pullback is an opportunity to buy, and any future pullbacks are opportunities to buy shares of AAPL, in my opinion. AAPL generates the most FCF of any company I have seen, and they don't just use it to grow their business; they consistently reward shareholders through buybacks and dividends. Based on the information I have today, AAPL is a buy.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ea241e7559cca6afd2d0ee8b29c759b6\" tg-width=\"640\" tg-height=\"374\" width=\"100%\" height=\"auto\"><span>(Source: Steven Fiorillo) (Data Source: Seeking Alpha)</span></p>\n<p><b>Conclusion</b></p>\n<p>AAPL is one of America's most beloved companies with a cult-like following for their products. I believe the recent pullback is an opportunity for investors as AAPL's Q4 earnings and a record 2021 will be reported at the end of October. Based on the current numbers, AAPL could see a revenue increase of 28.85% and a net income increase of 60.14% YoY compared to its 2020 fiscal year. AAPL, compared to its peers, looks inexpensive as its P/E and price to FCF are significantly lower than MSFT, AMZN, and GOOGL. AAPL continues to create value for its shareholders by allocating a percentage of its FCF to buybacks and dividends. AAPL continues to innovate, has released new products, continues to build out its Services business segment, and recently added $90 billion to its share buyback program. I believe AAPL is an excellent long-term investment, and the current pullback is a buying opportunity.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple: It's Never Too Late To Invest In AAPL, Especially As They Buy Back Shares</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple: It's Never Too Late To Invest In AAPL, Especially As They Buy Back Shares\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-28 22:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4457225-apple-stock-never-too-late-invest-especially-they-buy-back-shares><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nGoing into Q4 earnings, Apple is on track to deliver a blowout year, breaking previous milestones from total revenue to net income.\nApple continues to deliver tremendous shareholder value by ...</p>\n\n<a href=\"https://seekingalpha.com/article/4457225-apple-stock-never-too-late-invest-especially-they-buy-back-shares\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4457225-apple-stock-never-too-late-invest-especially-they-buy-back-shares","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152246777","content_text":"Summary\n\nGoing into Q4 earnings, Apple is on track to deliver a blowout year, breaking previous milestones from total revenue to net income.\nApple continues to deliver tremendous shareholder value by increasing the amount of capital they plan on allocating to their buyback program.\nCompared to their peers, AAPL looks cheap and this recent pullback is an opportunity if you have a long-term time horizon.\n\nStephen Lam/Getty Images News\nI don't believe there is ever a bad time to buy shares of Apple(NASDAQ:AAPL)if you have a long-term investment horizon. If you were to go back in time, no matter which milestone was being discussed, from reaching a $500 billion, $1 trillion, or a $2 trillion market cap, AAPL pushed right through the barrier over time. In the future, we will be discussing AAPL reaching a $5 trillion market cap. Don't look at AAPL in the past tense as a company that has undergone several stock splits and grown into a $2.43 trillion company. Look at AAPL as one of the most beloved companies in America that has generated $94.77 billion in Free Cash Flow (FCF) in the Trailing Twelve Months (TTM), with a 5-year average of $67.49 billion FCF. Look at AAPL as a company that produces a 41.66% gross profit margin and a 26.24% profit margin which has correlated to $86.8 billion of net income in the TTM. Most importantly, look at what AAPL has done for its shareholders over the last decade as they have repurchased 9.59 billion shares or 36.58% of the company while paying out $113.4 billion in dividends. Regardless if you missed the previous appreciation AAPL has created for shareholders, if you're a new investor or are a shareholder looking to add to your position, I don't believe there is ever a bad time to buy shares of AAPL.\nSource: TD\nUnderstanding why Apple's share buybacks are important to shareholders\nI have written about AAPL and read many of the other articles written about AAPL on Seeking Alpha for years. There are always comments about how Tim Cook (Apple CEO) and Luca Maestri (Apple CFO) are incompetent, financially mismanaging the company, and that the buybacks are useless. I have never seen a management team and board of directors care as much about their shareholders as the team at AAPL. Since the fiscal year of 2012, AAPL has returned $579.6 billion in capital through share buybacks and dividends to their shareholders while maintaining a net cash position that exceeds $50 billion. I am not aware of a single company that has given back anywhere close to this amount of capital to their shareholders while reinvesting in the company and continuing to innovate and drive revenue and profits.\nSource: Apple\nWhy are share buybacks important? I am of the mindset that dilution can be detrimental to shareholder value. Unless there is a good reason for issuing additional shares, it's one of the biggest red flags, in my opinion, as current shareholder ownership becomes diluted. It's a simple equation if company ABC has 10,000 shares outstanding and you hold 100 shares, you own 1% of the company. If ABC issues 2,500 shares to raise capital, there are now 12,500 shares outstanding, and your ownership in the company automatically gets diluted to 0.80%. If ABC utilized its FCF to initiate a share buyback program and, instead of issuing 2,500 shares, repurchased 2,500 shares on the open market, ABC would be left with 7,500 shares outstanding. Your equity stake in ABC would increase as your 100 shares would now be equivalent to 1.33% of the company. This would also cause the revenue and earnings per share to increase as it would be spread across fewer shares. Hypothetically if ABC generated $1,000,000 in revenue and $100,000 in earnings, based on 10,000 shares, each share of ABC would generate $100 of revenue and $10 of earnings per share. By issuing more shares and bringing the shares outstanding to 12,500, each share would now produce $80 of revenue and $8 of earnings per share. By buying back 2,500 shares instead of issuing 2,500 shares, ABC would now generate $133.33 of revenue and $13.33 earnings per share as they would only have 7,500 shares outstanding.\nWhen AAPL buys back shares, it isn't financial manipulation; they reward their shareholders by increasing the percentage of AAPL those shares owned. AAPL generates a tremendous amount of FCF, and its philosophy is to reward shareholders by giving them back a portion of the cash generated through buybacks and dividends. Over the last decade, AAPL's FCF has increased from $41.68 billion to $94.77 billion in the TTM on an annual basis. The fiscal year of 2021 has been well above AAPL's previous years, so if you were to use their 5-year average, FCF has increased from $41.68 billion to $67.49 billion on an annual basis. AAPL's buybacks aren't manipulation and shouldn't be viewed as financial mismanagement. Over the past 7 quarters, AAPL has bought back $138 billion in shares at an average rate of $19.71 billion per quarter. Each quarter AAPL repurchases shares, increasing the equity position your shares represent and increasing the amount of revenue and earnings per share your shares generate. This should be celebrated as AAPL creates shareholder value instead of hoarding cash.\nSource: Everything Money\nI recently wrote an article on Tesla (TSLA), and their management team has done the exact opposite of AAPL. Granted, TSLA is a growth company and has used the capital generated to grow its company but it's a perfect example of share dilution. At the end of 2011, TSLA had 522.7 million total common shares outstanding. As of the last report, TSLA had 984 million common shares outstanding. Over the past decade, TSLA has diluted shareholders by 88.15%. TSLA has issued 176.2 million new shares in the past five years and diluted its shareholders by 21.81% over that period. Issuing shares isn't always a negative, and to be fair toTSLA, they used the capital generated from issuing shares to grow their business. Since 2011 TSLA has increased its revenue from $204.2 million to $41.66 billion in the TTM (20,400%) and its revenue per share from $0.41 to $43.81, an increase of 10,585%. Even though TSLA has done a fantastic job of building out its company and generating tens of billions in annual revenue, its long-term shareholders have been diluted by 88.15% over the last decade.\nSource: Seeking Alpha\nOn 4/28/21, AAPL announced that its board of directors authorized an increase of $90 billion to its existing share repurchase program. Based on the current $2.43 trillion valuation, AAPL's board added enough capital to buy back an additional 3.7% of shares on the open market. Based on the data from the past decade, AAPL will continue to be shareholder-friendly as their capital allocation efforts have increased alongside their FFC. I am shocked that anyone would consider this financial mismanagement. AAPL's share buyback program is another reason to own this great company. Each quarter AAPL buys back shares, increasing the percentage of equity in AAPL that your shares represent. The dedication AAPL has shown to increasing shareholder value through buybacks is something that shareholders can continue to look forward to as AAPL has continuously repurchased shares throughout every new all-time high share price.\nApple's valuation is ripe for new investments, especially after the recent pullback\nShares of AAPL traded for $134.78 on 6/28/21 and reached $156.68 on 9/7/21. Since then, AAPL experienced a pullback as shares receded to $143.04 on 9/20/21, which is a level we haven't seen since the middle of July. At the end of trading on 9/24321, shares of AAPL had bounced off their recent lows and settled at $146.92. After going through AAPL's metrics and reviewing the 1-year chart, I believe this pullback is an opportunity. Over the past year, AAPL's pullbacks have created higher lows. On October 30thAAPL's first pullback closed at $108.42, then in the next major pullback, AAPL went from $143.22 on 1/25/21 to $116.37 on 3/8/21. AAPL then climbed to $134.79 on 4/19/21 and receded to $122.77 on 5/12/21. Over the summer, AAPL reached $156.69 on 9/7/21 and recently fell to $142.94 on 9/20/21. Over the past year, each of AAPL's pullbacks has made higher lows, and over the year, AAPL has created higher highs. Going into the Q4 results where AAPL is on track to report its best year of operations, I believe this pullback is a good entry point to either start or add to a current position.\nSource: Seeking Alpha\nAAPL,Amazon (AMZN),Alphabet (GOOGL)(NASDAQ:GOOG), and Microsoft (MSFT) are the four largest companies in the S&P 500. When looking at some of the valuation metrics I like to utilize, AAPL looks cheap compared to its peers in Big Tech. Price to Sales is a valuation that compares the stock price to the revenue generated per share. It's an indication of the value placed on each dollar of revenue generated. A lower P/S ratio could indicate that the share price is undervalued. AAPL has a P/S ratio of 7.13 compared to MSFT's of 13.44 and GOOGL's of 8.71. GOOGL has the lowest P/S of the group with 3.89. Price to earnings is used to value a company's share price to the earnings it generates and indicates how much an investor is willing to pay per $1 of earnings. A lower P/E ratio could indicate that a company's share price is undervalued. Today the average P/E ratio of the S&P 500 is 34.75. AAPL has a P/E ratio of 28.53 compared to MSFT's of 36.87, AMZN's of 58.54, and GOOGL's of 30.48. I look at the return on equity to measure each company's profitability in relation to the equity on the books. AAPL has a R/E ratio of 135.04% compared to MSFT's 43.15%, AMZN's 25.64%, and GOOGL's 26.49%. Not many people look at the price to free cash flow metric, but it's an equity valuation metric that indicates a company's ability to generate additional revenues. AAPL trades at a price to FCF multiple of 25.64x while MSFT trades at 40.09x, AMZN at 244.80x, and GOOGL at 32.46x.\nSource: Steven Fiorillo) (Data Source: Seeking Alpha\nAAPL is one of those companies that I believe you should own and add to when you're able to. I am so proud of my wife because she told me she bought more AAPL the other day when the markets pulled back. One of my good friends on our investment group chat has been buying shares of AAPL each month, and I believe he took the opportunity to add to AAPL during the pullback as well. I think AAPL is still a great long-term investment, and compared to its peers, it looks cheap. AAPL trades at just 25.64x its FCF with a P/E of 28.53 compared to the market average of 34.75. AAPL does an incredible job of generating profit from its equity, has an enticing valuation, and buys back shares every quarter; what's not to like?\nWhat are we looking at going into AAPL's Q4 2021 being reported at the end of October?\nAAPL doesn't follow a calendar year, and their fiscal year ends on 9/30 each year. When AAPL reports earnings at the end of October, they will be reporting their Q4 and 2021 fiscal year numbers. AAPL has set the stage for the best year in its operating history. AAPL finished 2020 with $274.52 billion in revenue, $104.96 billion of gross profit, and $57.4 billion in net income. In the first 9 months of their 2021 fiscal year, AAPL has produced $282.56 billion of revenue, $117.66 billion in gross profit, and $74.13 billion of net income. In the first 9 months of 2021, AAPL has exceeded its 2020 fiscal year in these three categories. AAPL has forecasted for double-digit YoY growth in Q4 2021, which would place their Q4 revenue at a minimum of $71.16 billion. AAPL has a current gross profit margin of 31.66% and a net income conversion ratio of 26.24%. If AAPL can convert 40% of their revenue to gross profit and 25% to net income, they would finish 2021 with $353.72 billion in revenue, $146.12 billion gross profit, and $91.92 billion in net income.\nI look at every investment as paying a present value for future cash flow. Some people say AAPL is overvalued, and their 2021 fiscal year is an anomaly. I don't have a crystal ball, and we're going to need to see what Tim Cook says on the Q4 earnings call and the projections for the fiscal year 2022. Looking at the chart I constructed below, AAPL had a period in 2016 and 2017 where their revenue fell below 2015's before their growth accelerated. Hypothetically if AAPL's revenue happens to peak for a year or two, it doesn't change my investment thesis as I have a long-term investment horizon for AAPL. From the fiscal year 2012–2017, AAPL repurchased $166 billion of shares which was an average of $27.67 billion annually. When revenue dipped, AAPL still created shareholder value by utilizing its cash to buy back shares. Heading into the close of 2021, AAPL will report a blowout year, and we will get some projections for 2022. AAPL's board has increased the share buyback program by $90 billion, and there is no indication AAPL is slowing down. This pullback is an opportunity to buy, and any future pullbacks are opportunities to buy shares of AAPL, in my opinion. AAPL generates the most FCF of any company I have seen, and they don't just use it to grow their business; they consistently reward shareholders through buybacks and dividends. Based on the information I have today, AAPL is a buy.\n(Source: Steven Fiorillo) (Data Source: Seeking Alpha)\nConclusion\nAAPL is one of America's most beloved companies with a cult-like following for their products. I believe the recent pullback is an opportunity for investors as AAPL's Q4 earnings and a record 2021 will be reported at the end of October. Based on the current numbers, AAPL could see a revenue increase of 28.85% and a net income increase of 60.14% YoY compared to its 2020 fiscal year. AAPL, compared to its peers, looks inexpensive as its P/E and price to FCF are significantly lower than MSFT, AMZN, and GOOGL. AAPL continues to create value for its shareholders by allocating a percentage of its FCF to buybacks and dividends. AAPL continues to innovate, has released new products, continues to build out its Services business segment, and recently added $90 billion to its share buyback program. I believe AAPL is an excellent long-term investment, and the current pullback is a buying opportunity.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1772,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868785006,"gmtCreate":1632705647605,"gmtModify":1632798439682,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"Hais","listText":"Hais","text":"Hais","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868785006","repostId":"2170488786","repostType":4,"repost":{"id":"2170488786","kind":"news","pubTimestamp":1632685409,"share":"https://www.laohu8.com/m/news/2170488786?lang=&edition=full","pubTime":"2021-09-27 03:43","market":"other","language":"en","title":"Debt ceiling debates in Congress, consumer confidence: What to know this week","url":"https://stock-news.laohu8.com/highlight/detail?id=2170488786","media":"Yahoo Finance","summary":"Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race t","content":"<p>Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the debt ceiling. Elsewhere, economic data on consumer confidence is also due for release.</p>\n<p>The Senate is expected to vote Monday on a procedural motion over the legislation passed by the House of Representatives last week. That bill included a plan to temporarily fund the government through early December, and came alongside a measure to raise the government debt ceiling through December 2022.</p>\n<p>The latter point has been an area of contention for Senate Republicans, who are only narrowly outnumbered by Democratic lawmakers in both chambers and who have threatened to block the bill in its current form.</p>\n<p>Senate Republicans including Minority Leader Mitch McConnell have suggested that Democratic lawmakers should use the budget reconciliation process to raise the debt ceiling without Republican support. McConnell has, however, supported a short-term government funding bill that excludes a debt ceiling suspension.</p>\n<p>\"If they [the Democrats] want to tax, borrow and spend historic sums of money without our input, they’ll have to raise the debt limit without our help. This is the reality,” McConnell said on the Senate floor last week.</p>\n<p>Democratic lawmakers, for their part, have called for the move to raise the debt limit be bipartisan to prevent the government from defaulting on its obligations. The Treasury Department has warned that the U.S. could default on its debts as soon as October in absence of congressional action.</p>\n<p>\"The U.S. has always paid its bills on time, but the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt limit would produce widespread economic catastrophe,\" Treasury Secretary Janet Yellen wrote in an op-ed in the Wall Street Journal last week.</p>\n<p>Federal Reserve Chair Jerome Powell also warned of the consequences of a failure to raise the debt ceiling during his post-FOMC meeting press conference last week.</p>\n<p>\"It's just very important that the debt ceiling be raised in a timely fashion so that the United States can pay its bills when and as they come due. That's a critically important thing,\" he said. \"The failure to do that is something that could result in severe reactions, severe damage to the economy and to the financial markets ... no <a href=\"https://laohu8.com/S/AONE.U\">one</a> should assume that the Fed or anyone else can protect the markets or the economy in the event of a failure.\"</p>\n<p><img src=\"https://static.tigerbbs.com/76c6a59b9c059b09d9267c8298e0b837\" referrerpolicy=\"no-referrer\">A dead Elm tree is removed on the West Front of the Capitol in Washington, Friday, Sept. 10, 2021. (AP Photo/J. Scott Applewhite)ASSOCIATED PRESS</p>\n<p>Amid the standoff, the Office of Management and Budget began warning federal agencies last week to prepare for a potential government shutdown. The reminder served as a standard warning one week out from Congress's deadline to reach an agreement to at least temporarily continue funding the government.</p>\n<p>Though leaders of both political parties have agreed that a continuing resolution to avoid the shutdown at the end of the month is needed, the ongoing tension over raising the debt limit has served as a potential roadblock in this effort.</p>\n<p>\"We still expect Congress to avert a partial government shutdown at the start of October. Republicans won’t vote for the current continuing resolution being touted by the Democratic leadership, which also includes a new debt ceiling suspension,\" wrote Paul Ashworth, chief North America economist for Capital Economics, in a note Friday. \"But we expect a Plan B to emerge next week with the latter stripped out, which Republicans will support.\"</p>\n<p>\"The bigger issue is that there doesn’t appear to be an easy path to raising the debt ceiling by mid-October, which is when estimates suggest the Treasury’s will exhaust the 'extraordinary measures it is currently using to keep the lights on,\" he added.</p>\n<p>Investors have also grown jittery as the debates wore on, with stocks posting their worst day since May last week amid a confluence of concerns that also included debt concerns with China Evergrande.</p>\n<p>Many strategists, however, have suggested market participants need not be overly concerned about the impacts of a potential government shutdown.</p>\n<p>\"Historically, we've seen that government shutdowns tend to be short-lived,\" Jordan Jackson, JPMorgan Asset Management global market strategist, told Yahoo Finance Live on Friday. \"We also know that for those non-essential federal employees, they do get furlough pay as well.\"</p>\n<p>\"If it lasts more than 30 days, it's certainly going to have a bigger impact on the economy. But generally speaking, these shutdowns tend to be short-lived and markets — while they may correct in the short-term — they do sort of continue to grind higher,\" he added. \"I think it's certainly a risk in terms of a short-term mini correction there. But again, with all the liquidity out there, I think any sort of blip in the markets will be short-lived.\"</p>\n<p>Historical equity performance during and immediately following a government shutdown has also tended to point to a muted market impact.</p>\n<p>\"In the 14 government shutdowns since 1980, the S&amp;P 500 generated median returns of -0.1% on the dates of budget authority expiration, 0.1% during the shutdown periods, and 0.3% on the dates of resolution,\" David Kostin, Goldman Sachs chief equity strategist, wrote in a note published on Sept. 21.</p>\n<p>\"One notable exception was the most recent federal shutdown in December 2018, when the S&amp;P 500 fell 2% on the spending authority expiration date,\" he added. \"However, this decline was likely driven primarily by investor concerns about Fed tightening.\"</p>\n<p>Kostin also noted that the typical government shutdown since 1980 has only lasted three days before ultimately being resolved. More recent shutdowns have lasted several times longer, however, with the duration of the four most recent federal shutdowns averaging 18 days, Kostin said.</p>\n<h3>Consumer confidence</h3>\n<p>On the economic data front, one of the most closely watched new pieces of data will be on consumer confidence.</p>\n<p>The Conference Board is set to release its September consumer confidence index Tuesday morning. Economists expect the index to tick up only slightly compared to August, with consumers' views on the coronavirus and rising prices stabilizing near the lowest level since February.</p>\n<p>Specifically, consensus economists are looking for the index to rise to 115.0 in September after dropping to 113.8 in August. During the last monthly report, consumers' assessments of current business and labor market conditions both eased, and expectations for the next six months out also deteriorated.</p>\n<p>\"Consumer confidence fell to a six-month low in August, due to concerns around the Delta variant and inflation,\" wrote Bank of America economist Michelle Meyer in a note on Friday. \"We think these concerns largely remained in September.\"</p>\n<p>At the time, Lynn Franco, senior director of economic indicators at the Conference Board, said it was still \"too soon to conclude\" whether decline in consumer confidence would \"result in consumers significantly curtailing their spending in the months ahead.\"</p>\n<p>The latest spending data has also been equivocal. The Commerce Department's latest report showed retail sales rose 0.7% in August after declining in July. However, the categories posting the biggest declines were areas like e-commerce shops and grocery stores, suggesting consumer behavior was shifting back toward stay-in-place trends and away from in-person events like restaurant dining amid the latest wave of the coronavirus.</p>\n<h3>Economic calendar</h3>\n<ul>\n <li><p><b>Monday: </b>Durable goods orders, August preliminary (0.6% expected, -0.1% in July); Durable goods excluding transportation, August preliminary (0.5% expected, 0.8% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.3% expected, 0.1% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.9% in July); Dallas Fed Manufacturing Activity Index, September (11.0 expected, 9.0 in July)</p></li>\n <li><p><b>Tuesday: </b>Advance goods trade balance, August (-$87.0 billion expected, -$86.4 billion in July); Wholesale inventories, month-over-month, August preliminary (0.6% in July); Retail inventories, month-over-month, August (0.4% in July); FHFA House Price Index, month-over-month, July (1.5% expected, 1.6% in July); S&amp;P <a href=\"https://laohu8.com/S/CLGX\">CoreLogic</a> Case-Shiller 20-City Composite Index, month-over-month, July (1.62% expected, 1.77% in June); S&amp;P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, July (20.1% expected, 19.08% in June); Conference Board Consumer Confidence Index, September (114.2 expected, 113.8 in August); Richmond Fed Manufacturing Index, September (9 in August)</p></li>\n <li><p><b>Wednesday: </b>MBA Mortgage Applications, week ended September 24 (4.9% during prior month); Pending home sales, month-over-month, August (1.0% expected, -1.8% in July)</p></li>\n <li><p><b>Thursday: </b>Initial jobless claims, week ended September 25 (320,000 expected, 351,000 during prior week); Continuing claims, week ended September 18 (2.845 million during prior week); GDP annualized, quarter-over-quarter, second-quarter third estimate (6.7% expected, 6.6% in prior estimate); Personal consumption, second-quarter third estimate (11.9% in prior estimate); Core personal consumption expenditures, second quarter third estimate (6.1% in prior estimate); MNI Chicago PMI, September (65.0 expected, 66.8 in August)</p></li>\n <li><p><b>Friday: </b>Personal income, August (0.2% expected, 1.1% in July); Personal spending, August (0.7% expected, 0.3% in July); Personal consumption expenditures core deflator, month-over-over, August (0.2% expected, 0.3% in July); Personal consumption expenditures core deflator, year-over-year, August (3.6% expected, 3.6% in July); <a href=\"https://laohu8.com/S/MRKT\">Markit</a> manufacturing PMI, September final (60.5 in prior estimate); Construction spending, month-over-month, August (0.3% expected, 0.3% in July); University of Michigan sentiment, September final (71.0 expected, 71.0 in prior print); ISM Manufacturing, September (59.5 expected, 59.9 in August)</p></li>\n</ul>\n<h3>Earnings calendar</h3>\n<ul>\n <li><p><b>Monday: </b>Aurora Cannabis (ACB) after market close</p></li>\n <li><p><b>Tuesday: </b>Micron Technology (MU) after market close.</p></li>\n <li><p><b>Wednesday: </b><i>No notable reports scheduled for release</i></p></li>\n <li><p><b>Thursday: </b>CarMax (KMX), Bed Bath &amp; Beyond (BBBY) before market open; Jefferies (JEF) after market close</p></li>\n <li><p><b>Friday: </b><i>No notable reports scheduled for releas</i></p></li>\n</ul>","source":"yahoofinance_au","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Debt ceiling debates in Congress, consumer confidence: What to know this week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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\">\nDebt ceiling debates in Congress, consumer confidence: What to know this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-27 03:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7e749e88d2580d292ffc6ae18d03b65","relate_stocks":{"SPY.AU":"SPDR® S&P 500® ETF Trust"},"source_url":"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2170488786","content_text":"Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the debt ceiling. Elsewhere, economic data on consumer confidence is also due for release.\nThe Senate is expected to vote Monday on a procedural motion over the legislation passed by the House of Representatives last week. That bill included a plan to temporarily fund the government through early December, and came alongside a measure to raise the government debt ceiling through December 2022.\nThe latter point has been an area of contention for Senate Republicans, who are only narrowly outnumbered by Democratic lawmakers in both chambers and who have threatened to block the bill in its current form.\nSenate Republicans including Minority Leader Mitch McConnell have suggested that Democratic lawmakers should use the budget reconciliation process to raise the debt ceiling without Republican support. McConnell has, however, supported a short-term government funding bill that excludes a debt ceiling suspension.\n\"If they [the Democrats] want to tax, borrow and spend historic sums of money without our input, they’ll have to raise the debt limit without our help. This is the reality,” McConnell said on the Senate floor last week.\nDemocratic lawmakers, for their part, have called for the move to raise the debt limit be bipartisan to prevent the government from defaulting on its obligations. The Treasury Department has warned that the U.S. could default on its debts as soon as October in absence of congressional action.\n\"The U.S. has always paid its bills on time, but the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt limit would produce widespread economic catastrophe,\" Treasury Secretary Janet Yellen wrote in an op-ed in the Wall Street Journal last week.\nFederal Reserve Chair Jerome Powell also warned of the consequences of a failure to raise the debt ceiling during his post-FOMC meeting press conference last week.\n\"It's just very important that the debt ceiling be raised in a timely fashion so that the United States can pay its bills when and as they come due. That's a critically important thing,\" he said. \"The failure to do that is something that could result in severe reactions, severe damage to the economy and to the financial markets ... no one should assume that the Fed or anyone else can protect the markets or the economy in the event of a failure.\"\nA dead Elm tree is removed on the West Front of the Capitol in Washington, Friday, Sept. 10, 2021. (AP Photo/J. Scott Applewhite)ASSOCIATED PRESS\nAmid the standoff, the Office of Management and Budget began warning federal agencies last week to prepare for a potential government shutdown. The reminder served as a standard warning one week out from Congress's deadline to reach an agreement to at least temporarily continue funding the government.\nThough leaders of both political parties have agreed that a continuing resolution to avoid the shutdown at the end of the month is needed, the ongoing tension over raising the debt limit has served as a potential roadblock in this effort.\n\"We still expect Congress to avert a partial government shutdown at the start of October. Republicans won’t vote for the current continuing resolution being touted by the Democratic leadership, which also includes a new debt ceiling suspension,\" wrote Paul Ashworth, chief North America economist for Capital Economics, in a note Friday. \"But we expect a Plan B to emerge next week with the latter stripped out, which Republicans will support.\"\n\"The bigger issue is that there doesn’t appear to be an easy path to raising the debt ceiling by mid-October, which is when estimates suggest the Treasury’s will exhaust the 'extraordinary measures it is currently using to keep the lights on,\" he added.\nInvestors have also grown jittery as the debates wore on, with stocks posting their worst day since May last week amid a confluence of concerns that also included debt concerns with China Evergrande.\nMany strategists, however, have suggested market participants need not be overly concerned about the impacts of a potential government shutdown.\n\"Historically, we've seen that government shutdowns tend to be short-lived,\" Jordan Jackson, JPMorgan Asset Management global market strategist, told Yahoo Finance Live on Friday. \"We also know that for those non-essential federal employees, they do get furlough pay as well.\"\n\"If it lasts more than 30 days, it's certainly going to have a bigger impact on the economy. But generally speaking, these shutdowns tend to be short-lived and markets — while they may correct in the short-term — they do sort of continue to grind higher,\" he added. \"I think it's certainly a risk in terms of a short-term mini correction there. But again, with all the liquidity out there, I think any sort of blip in the markets will be short-lived.\"\nHistorical equity performance during and immediately following a government shutdown has also tended to point to a muted market impact.\n\"In the 14 government shutdowns since 1980, the S&P 500 generated median returns of -0.1% on the dates of budget authority expiration, 0.1% during the shutdown periods, and 0.3% on the dates of resolution,\" David Kostin, Goldman Sachs chief equity strategist, wrote in a note published on Sept. 21.\n\"One notable exception was the most recent federal shutdown in December 2018, when the S&P 500 fell 2% on the spending authority expiration date,\" he added. \"However, this decline was likely driven primarily by investor concerns about Fed tightening.\"\nKostin also noted that the typical government shutdown since 1980 has only lasted three days before ultimately being resolved. More recent shutdowns have lasted several times longer, however, with the duration of the four most recent federal shutdowns averaging 18 days, Kostin said.\nConsumer confidence\nOn the economic data front, one of the most closely watched new pieces of data will be on consumer confidence.\nThe Conference Board is set to release its September consumer confidence index Tuesday morning. Economists expect the index to tick up only slightly compared to August, with consumers' views on the coronavirus and rising prices stabilizing near the lowest level since February.\nSpecifically, consensus economists are looking for the index to rise to 115.0 in September after dropping to 113.8 in August. During the last monthly report, consumers' assessments of current business and labor market conditions both eased, and expectations for the next six months out also deteriorated.\n\"Consumer confidence fell to a six-month low in August, due to concerns around the Delta variant and inflation,\" wrote Bank of America economist Michelle Meyer in a note on Friday. \"We think these concerns largely remained in September.\"\nAt the time, Lynn Franco, senior director of economic indicators at the Conference Board, said it was still \"too soon to conclude\" whether decline in consumer confidence would \"result in consumers significantly curtailing their spending in the months ahead.\"\nThe latest spending data has also been equivocal. The Commerce Department's latest report showed retail sales rose 0.7% in August after declining in July. However, the categories posting the biggest declines were areas like e-commerce shops and grocery stores, suggesting consumer behavior was shifting back toward stay-in-place trends and away from in-person events like restaurant dining amid the latest wave of the coronavirus.\nEconomic calendar\n\nMonday: Durable goods orders, August preliminary (0.6% expected, -0.1% in July); Durable goods excluding transportation, August preliminary (0.5% expected, 0.8% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.3% expected, 0.1% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.9% in July); Dallas Fed Manufacturing Activity Index, September (11.0 expected, 9.0 in July)\nTuesday: Advance goods trade balance, August (-$87.0 billion expected, -$86.4 billion in July); Wholesale inventories, month-over-month, August preliminary (0.6% in July); Retail inventories, month-over-month, August (0.4% in July); FHFA House Price Index, month-over-month, July (1.5% expected, 1.6% in July); S&P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, July (1.62% expected, 1.77% in June); S&P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, July (20.1% expected, 19.08% in June); Conference Board Consumer Confidence Index, September (114.2 expected, 113.8 in August); Richmond Fed Manufacturing Index, September (9 in August)\nWednesday: MBA Mortgage Applications, week ended September 24 (4.9% during prior month); Pending home sales, month-over-month, August (1.0% expected, -1.8% in July)\nThursday: Initial jobless claims, week ended September 25 (320,000 expected, 351,000 during prior week); Continuing claims, week ended September 18 (2.845 million during prior week); GDP annualized, quarter-over-quarter, second-quarter third estimate (6.7% expected, 6.6% in prior estimate); Personal consumption, second-quarter third estimate (11.9% in prior estimate); Core personal consumption expenditures, second quarter third estimate (6.1% in prior estimate); MNI Chicago PMI, September (65.0 expected, 66.8 in August)\nFriday: Personal income, August (0.2% expected, 1.1% in July); Personal spending, August (0.7% expected, 0.3% in July); Personal consumption expenditures core deflator, month-over-over, August (0.2% expected, 0.3% in July); Personal consumption expenditures core deflator, year-over-year, August (3.6% expected, 3.6% in July); Markit manufacturing PMI, September final (60.5 in prior estimate); Construction spending, month-over-month, August (0.3% expected, 0.3% in July); University of Michigan sentiment, September final (71.0 expected, 71.0 in prior print); ISM Manufacturing, September (59.5 expected, 59.9 in August)\n\nEarnings calendar\n\nMonday: Aurora Cannabis (ACB) after market close\nTuesday: Micron Technology (MU) after market close.\nWednesday: No notable reports scheduled for release\nThursday: CarMax (KMX), Bed Bath & Beyond (BBBY) before market open; Jefferies (JEF) after market close\nFriday: No notable reports scheduled for releas","news_type":1,"symbols_score_info":{"SPY.AU":0.9}},"isVote":1,"tweetType":1,"viewCount":433,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868786825,"gmtCreate":1632705572867,"gmtModify":1632798441378,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/F34.SI\">$WILMAR INTERNATIONAL LIMITED(F34.SI)$</a>🥲","listText":"<a href=\"https://laohu8.com/S/F34.SI\">$WILMAR INTERNATIONAL LIMITED(F34.SI)$</a>🥲","text":"$WILMAR INTERNATIONAL LIMITED(F34.SI)$🥲","images":[{"img":"https://static.tigerbbs.com/444d17c252be8a1e4bb9297540efd50b","width":"1080","height":"2126"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868786825","isVote":1,"tweetType":1,"viewCount":535,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":868860453,"gmtCreate":1632629770272,"gmtModify":1632649205088,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/UVXY\">$ProShares Ultra VIX Short Term Futures(UVXY)$</a>[流泪]&nbsp;[流泪]&nbsp;","listText":"<a href=\"https://laohu8.com/S/UVXY\">$ProShares Ultra VIX Short Term Futures(UVXY)$</a>[流泪]&nbsp;[流泪]&nbsp;","text":"$ProShares Ultra VIX Short Term Futures(UVXY)$[流泪] [流泪]","images":[{"img":"https://static.tigerbbs.com/69c262363e9781b049a037a2f7fecf6a","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/868860453","isVote":1,"tweetType":1,"viewCount":680,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":817566045,"gmtCreate":1630975767787,"gmtModify":1631883819049,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/C2PU.SI\">$PARKWAYLIFE REIT(C2PU.SI)$</a>waiting for a good entry price","listText":"<a href=\"https://laohu8.com/S/C2PU.SI\">$PARKWAYLIFE REIT(C2PU.SI)$</a>waiting for a good entry price","text":"$PARKWAYLIFE REIT(C2PU.SI)$waiting for a good entry price","images":[{"img":"https://static.tigerbbs.com/17e0c999d76c32d6ce61e32ee575e8ad","width":"1080","height":"3013"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/817566045","isVote":1,"tweetType":1,"viewCount":479,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":838165764,"gmtCreate":1629381447158,"gmtModify":1631890337983,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"Waiting for a good entry point to prepare for Winter","listText":"Waiting for a good entry point to prepare for Winter","text":"Waiting for a good entry point to prepare for Winter","images":[{"img":"https://static.tigerbbs.com/8683b607c2ddcd1cb6390561aca864e7","width":"1080","height":"3013"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/838165764","isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":833815391,"gmtCreate":1629215246413,"gmtModify":1631889148067,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SQQQ\">$ProShares UltraPro Short QQQ(SQQQ)$</a>finally","listText":"<a href=\"https://laohu8.com/S/SQQQ\">$ProShares UltraPro Short QQQ(SQQQ)$</a>finally","text":"$ProShares UltraPro Short QQQ(SQQQ)$finally","images":[{"img":"https://static.tigerbbs.com/68f277f5f0019b827bf5848c2cf38a65","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/833815391","isVote":1,"tweetType":1,"viewCount":376,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":839167946,"gmtCreate":1629127693385,"gmtModify":1631890337985,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"Still waiting for a good entry point to ride along future increase in interest rate&nbsp;","listText":"Still waiting for a good entry point to ride along future increase in interest rate&nbsp;","text":"Still waiting for a good entry point to ride along future increase in interest rate","images":[{"img":"https://static.tigerbbs.com/59efe85fc2c0ad636755a0d25aae36e8","width":"1080","height":"2126"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/839167946","isVote":1,"tweetType":1,"viewCount":300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":839164001,"gmtCreate":1629127613103,"gmtModify":1631883808088,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/UVXY\">$ProShares Ultra VIX Short Term Futures(UVXY)$</a>buy tto hedge my consumer product stocks","listText":"<a href=\"https://laohu8.com/S/UVXY\">$ProShares Ultra VIX Short Term Futures(UVXY)$</a>buy tto hedge my consumer product stocks","text":"$ProShares Ultra VIX Short Term Futures(UVXY)$buy tto hedge my consumer product stocks","images":[{"img":"https://static.tigerbbs.com/73f58cb348bbee5ba219bb8c6e30ff06","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/839164001","isVote":1,"tweetType":1,"viewCount":318,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":830957318,"gmtCreate":1629004254534,"gmtModify":1631890337988,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"Upupupup","listText":"Upupupup","text":"Upupupup","images":[{"img":"https://static.tigerbbs.com/17cc5a6a6c968e387dfc35954c76cfff","width":"1080","height":"2213"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/830957318","isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":830954296,"gmtCreate":1629004185915,"gmtModify":1631883808108,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/UVXY\">$ProShares Ultra VIX Short Term Futures(UVXY)$</a>hold?","listText":"<a href=\"https://laohu8.com/S/UVXY\">$ProShares Ultra VIX Short Term Futures(UVXY)$</a>hold?","text":"$ProShares Ultra VIX Short Term Futures(UVXY)$hold?","images":[{"img":"https://static.tigerbbs.com/7a72d2e667fe10b459c33ff4eba8e238","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/830954296","isVote":1,"tweetType":1,"viewCount":329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":898267695,"gmtCreate":1628502216317,"gmtModify":1631884679501,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SENS\">$Senseonics(SENS)$</a>waiting for the earnings","listText":"<a href=\"https://laohu8.com/S/SENS\">$Senseonics(SENS)$</a>waiting for the earnings","text":"$Senseonics(SENS)$waiting for the earnings","images":[{"img":"https://static.tigerbbs.com/0cf70892bf0433d25de800e7403cb5d3","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/898267695","isVote":1,"tweetType":1,"viewCount":1212,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":897082956,"gmtCreate":1628863169275,"gmtModify":1631883808117,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/UVXY\">$ProShares Ultra VIX Short Term Futures(UVXY)$</a>hold or sell?","listText":"<a href=\"https://laohu8.com/S/UVXY\">$ProShares Ultra VIX Short Term Futures(UVXY)$</a>hold or sell?","text":"$ProShares Ultra VIX Short Term Futures(UVXY)$hold or sell?","images":[{"img":"https://static.tigerbbs.com/0c052bc79afa05bc0d5ccb76fe56f9f3","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/897082956","isVote":1,"tweetType":1,"viewCount":898,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":370242287,"gmtCreate":1618590736649,"gmtModify":1631885010939,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SENS\">$Senseonics(SENS)$</a>can anyone share with me what's the reason for the recent plunge? Has there been any negative news on the company recently?","listText":"<a href=\"https://laohu8.com/S/SENS\">$Senseonics(SENS)$</a>can anyone share with me what's the reason for the recent plunge? Has there been any negative news on the company recently?","text":"$Senseonics(SENS)$can anyone share with me what's the reason for the recent plunge? Has there been any negative news on the company recently?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/370242287","isVote":1,"tweetType":1,"viewCount":3825,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194861798,"gmtCreate":1621354580914,"gmtModify":1631885010504,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SENS\">$Senseonics(SENS)$</a>up up up!","listText":"<a href=\"https://laohu8.com/S/SENS\">$Senseonics(SENS)$</a>up up up!","text":"$Senseonics(SENS)$up up up!","images":[{"img":"https://static.tigerbbs.com/fb5d953145e816c02f3390dbadd14990","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/194861798","isVote":1,"tweetType":1,"viewCount":555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":111021783,"gmtCreate":1622645153242,"gmtModify":1634099612110,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/111021783","repostId":"2140417257","repostType":4,"isVote":1,"tweetType":1,"viewCount":389,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139665854,"gmtCreate":1621615404078,"gmtModify":1634187622134,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"Like and comment plssss","listText":"Like and comment plssss","text":"Like and comment plssss","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/139665854","repostId":"2137906121","repostType":4,"isVote":1,"tweetType":1,"viewCount":97,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186184385,"gmtCreate":1623478559947,"gmtModify":1631885009726,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SENS\">$Senseonics(SENS)$</a>sooooo goood","listText":"<a href=\"https://laohu8.com/S/SENS\">$Senseonics(SENS)$</a>sooooo goood","text":"$Senseonics(SENS)$sooooo goood","images":[{"img":"https://static.tigerbbs.com/cca22126f613d9793ca1d1fdfa9f13e7","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":1,"link":"https://laohu8.com/post/186184385","isVote":1,"tweetType":1,"viewCount":185,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":825718676,"gmtCreate":1634257614414,"gmtModify":1634274403521,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/VALE\">$Vale SA(VALE)$</a>😭😭","listText":"<a href=\"https://laohu8.com/S/VALE\">$Vale SA(VALE)$</a>😭😭","text":"$Vale SA(VALE)$😭😭","images":[{"img":"https://static.tigerbbs.com/f4d73cdf297a53b7a75cc7e95ba6c510","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/825718676","isVote":1,"tweetType":1,"viewCount":2329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":899802238,"gmtCreate":1628171994024,"gmtModify":1631883808165,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/UVXY\">$ProShares Ultra VIX Short Term Futures(UVXY)$</a>[流泪]&nbsp;[流泪]&nbsp;[流泪]&nbsp;","listText":"<a href=\"https://laohu8.com/S/UVXY\">$ProShares Ultra VIX Short Term Futures(UVXY)$</a>[流泪]&nbsp;[流泪]&nbsp;[流泪]&nbsp;","text":"$ProShares Ultra VIX Short Term Futures(UVXY)$[流泪] [流泪] [流泪]","images":[{"img":"https://static.tigerbbs.com/bc3cd076738408a6eb74fd753a6a49bd","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/899802238","isVote":1,"tweetType":1,"viewCount":804,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3483950792496874","authorId":"3483950792496874","name":"喝酒","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"idStr":"3483950792496874","authorIdStr":"3483950792496874"},"content":"赶紧割肉吧，要不马上就跌到10块了，腰斩","text":"赶紧割肉吧，要不马上就跌到10块了，腰斩","html":"赶紧割肉吧，要不马上就跌到10块了，腰斩"}],"imageCount":1,"langContent":"CN","totalScore":0},{"id":197890730,"gmtCreate":1621437407420,"gmtModify":1634189139541,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/197890730","repostId":"1134860607","repostType":4,"isVote":1,"tweetType":1,"viewCount":151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":829033650,"gmtCreate":1633441757731,"gmtModify":1633441758430,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/VALE\">$Vale SA(VALE)$</a>what is a good entry price?","listText":"<a href=\"https://laohu8.com/S/VALE\">$Vale SA(VALE)$</a>what is a good entry price?","text":"$Vale SA(VALE)$what is a good entry price?","images":[{"img":"https://static.tigerbbs.com/7003c878ed370d05472305a08a912cb1","width":"1080","height":"3115"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/829033650","isVote":1,"tweetType":1,"viewCount":2115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":868785006,"gmtCreate":1632705647605,"gmtModify":1632798439682,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"Hais","listText":"Hais","text":"Hais","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868785006","repostId":"2170488786","repostType":4,"repost":{"id":"2170488786","kind":"news","pubTimestamp":1632685409,"share":"https://www.laohu8.com/m/news/2170488786?lang=&edition=full","pubTime":"2021-09-27 03:43","market":"other","language":"en","title":"Debt ceiling debates in Congress, consumer confidence: What to know this week","url":"https://stock-news.laohu8.com/highlight/detail?id=2170488786","media":"Yahoo Finance","summary":"Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race t","content":"<p>Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the debt ceiling. Elsewhere, economic data on consumer confidence is also due for release.</p>\n<p>The Senate is expected to vote Monday on a procedural motion over the legislation passed by the House of Representatives last week. That bill included a plan to temporarily fund the government through early December, and came alongside a measure to raise the government debt ceiling through December 2022.</p>\n<p>The latter point has been an area of contention for Senate Republicans, who are only narrowly outnumbered by Democratic lawmakers in both chambers and who have threatened to block the bill in its current form.</p>\n<p>Senate Republicans including Minority Leader Mitch McConnell have suggested that Democratic lawmakers should use the budget reconciliation process to raise the debt ceiling without Republican support. McConnell has, however, supported a short-term government funding bill that excludes a debt ceiling suspension.</p>\n<p>\"If they [the Democrats] want to tax, borrow and spend historic sums of money without our input, they’ll have to raise the debt limit without our help. This is the reality,” McConnell said on the Senate floor last week.</p>\n<p>Democratic lawmakers, for their part, have called for the move to raise the debt limit be bipartisan to prevent the government from defaulting on its obligations. The Treasury Department has warned that the U.S. could default on its debts as soon as October in absence of congressional action.</p>\n<p>\"The U.S. has always paid its bills on time, but the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt limit would produce widespread economic catastrophe,\" Treasury Secretary Janet Yellen wrote in an op-ed in the Wall Street Journal last week.</p>\n<p>Federal Reserve Chair Jerome Powell also warned of the consequences of a failure to raise the debt ceiling during his post-FOMC meeting press conference last week.</p>\n<p>\"It's just very important that the debt ceiling be raised in a timely fashion so that the United States can pay its bills when and as they come due. That's a critically important thing,\" he said. \"The failure to do that is something that could result in severe reactions, severe damage to the economy and to the financial markets ... no <a href=\"https://laohu8.com/S/AONE.U\">one</a> should assume that the Fed or anyone else can protect the markets or the economy in the event of a failure.\"</p>\n<p><img src=\"https://static.tigerbbs.com/76c6a59b9c059b09d9267c8298e0b837\" referrerpolicy=\"no-referrer\">A dead Elm tree is removed on the West Front of the Capitol in Washington, Friday, Sept. 10, 2021. (AP Photo/J. Scott Applewhite)ASSOCIATED PRESS</p>\n<p>Amid the standoff, the Office of Management and Budget began warning federal agencies last week to prepare for a potential government shutdown. The reminder served as a standard warning one week out from Congress's deadline to reach an agreement to at least temporarily continue funding the government.</p>\n<p>Though leaders of both political parties have agreed that a continuing resolution to avoid the shutdown at the end of the month is needed, the ongoing tension over raising the debt limit has served as a potential roadblock in this effort.</p>\n<p>\"We still expect Congress to avert a partial government shutdown at the start of October. Republicans won’t vote for the current continuing resolution being touted by the Democratic leadership, which also includes a new debt ceiling suspension,\" wrote Paul Ashworth, chief North America economist for Capital Economics, in a note Friday. \"But we expect a Plan B to emerge next week with the latter stripped out, which Republicans will support.\"</p>\n<p>\"The bigger issue is that there doesn’t appear to be an easy path to raising the debt ceiling by mid-October, which is when estimates suggest the Treasury’s will exhaust the 'extraordinary measures it is currently using to keep the lights on,\" he added.</p>\n<p>Investors have also grown jittery as the debates wore on, with stocks posting their worst day since May last week amid a confluence of concerns that also included debt concerns with China Evergrande.</p>\n<p>Many strategists, however, have suggested market participants need not be overly concerned about the impacts of a potential government shutdown.</p>\n<p>\"Historically, we've seen that government shutdowns tend to be short-lived,\" Jordan Jackson, JPMorgan Asset Management global market strategist, told Yahoo Finance Live on Friday. \"We also know that for those non-essential federal employees, they do get furlough pay as well.\"</p>\n<p>\"If it lasts more than 30 days, it's certainly going to have a bigger impact on the economy. But generally speaking, these shutdowns tend to be short-lived and markets — while they may correct in the short-term — they do sort of continue to grind higher,\" he added. \"I think it's certainly a risk in terms of a short-term mini correction there. But again, with all the liquidity out there, I think any sort of blip in the markets will be short-lived.\"</p>\n<p>Historical equity performance during and immediately following a government shutdown has also tended to point to a muted market impact.</p>\n<p>\"In the 14 government shutdowns since 1980, the S&amp;P 500 generated median returns of -0.1% on the dates of budget authority expiration, 0.1% during the shutdown periods, and 0.3% on the dates of resolution,\" David Kostin, Goldman Sachs chief equity strategist, wrote in a note published on Sept. 21.</p>\n<p>\"One notable exception was the most recent federal shutdown in December 2018, when the S&amp;P 500 fell 2% on the spending authority expiration date,\" he added. \"However, this decline was likely driven primarily by investor concerns about Fed tightening.\"</p>\n<p>Kostin also noted that the typical government shutdown since 1980 has only lasted three days before ultimately being resolved. More recent shutdowns have lasted several times longer, however, with the duration of the four most recent federal shutdowns averaging 18 days, Kostin said.</p>\n<h3>Consumer confidence</h3>\n<p>On the economic data front, one of the most closely watched new pieces of data will be on consumer confidence.</p>\n<p>The Conference Board is set to release its September consumer confidence index Tuesday morning. Economists expect the index to tick up only slightly compared to August, with consumers' views on the coronavirus and rising prices stabilizing near the lowest level since February.</p>\n<p>Specifically, consensus economists are looking for the index to rise to 115.0 in September after dropping to 113.8 in August. During the last monthly report, consumers' assessments of current business and labor market conditions both eased, and expectations for the next six months out also deteriorated.</p>\n<p>\"Consumer confidence fell to a six-month low in August, due to concerns around the Delta variant and inflation,\" wrote Bank of America economist Michelle Meyer in a note on Friday. \"We think these concerns largely remained in September.\"</p>\n<p>At the time, Lynn Franco, senior director of economic indicators at the Conference Board, said it was still \"too soon to conclude\" whether decline in consumer confidence would \"result in consumers significantly curtailing their spending in the months ahead.\"</p>\n<p>The latest spending data has also been equivocal. The Commerce Department's latest report showed retail sales rose 0.7% in August after declining in July. However, the categories posting the biggest declines were areas like e-commerce shops and grocery stores, suggesting consumer behavior was shifting back toward stay-in-place trends and away from in-person events like restaurant dining amid the latest wave of the coronavirus.</p>\n<h3>Economic calendar</h3>\n<ul>\n <li><p><b>Monday: </b>Durable goods orders, August preliminary (0.6% expected, -0.1% in July); Durable goods excluding transportation, August preliminary (0.5% expected, 0.8% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.3% expected, 0.1% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.9% in July); Dallas Fed Manufacturing Activity Index, September (11.0 expected, 9.0 in July)</p></li>\n <li><p><b>Tuesday: </b>Advance goods trade balance, August (-$87.0 billion expected, -$86.4 billion in July); Wholesale inventories, month-over-month, August preliminary (0.6% in July); Retail inventories, month-over-month, August (0.4% in July); FHFA House Price Index, month-over-month, July (1.5% expected, 1.6% in July); S&amp;P <a href=\"https://laohu8.com/S/CLGX\">CoreLogic</a> Case-Shiller 20-City Composite Index, month-over-month, July (1.62% expected, 1.77% in June); S&amp;P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, July (20.1% expected, 19.08% in June); Conference Board Consumer Confidence Index, September (114.2 expected, 113.8 in August); Richmond Fed Manufacturing Index, September (9 in August)</p></li>\n <li><p><b>Wednesday: </b>MBA Mortgage Applications, week ended September 24 (4.9% during prior month); Pending home sales, month-over-month, August (1.0% expected, -1.8% in July)</p></li>\n <li><p><b>Thursday: </b>Initial jobless claims, week ended September 25 (320,000 expected, 351,000 during prior week); Continuing claims, week ended September 18 (2.845 million during prior week); GDP annualized, quarter-over-quarter, second-quarter third estimate (6.7% expected, 6.6% in prior estimate); Personal consumption, second-quarter third estimate (11.9% in prior estimate); Core personal consumption expenditures, second quarter third estimate (6.1% in prior estimate); MNI Chicago PMI, September (65.0 expected, 66.8 in August)</p></li>\n <li><p><b>Friday: </b>Personal income, August (0.2% expected, 1.1% in July); Personal spending, August (0.7% expected, 0.3% in July); Personal consumption expenditures core deflator, month-over-over, August (0.2% expected, 0.3% in July); Personal consumption expenditures core deflator, year-over-year, August (3.6% expected, 3.6% in July); <a href=\"https://laohu8.com/S/MRKT\">Markit</a> manufacturing PMI, September final (60.5 in prior estimate); Construction spending, month-over-month, August (0.3% expected, 0.3% in July); University of Michigan sentiment, September final (71.0 expected, 71.0 in prior print); ISM Manufacturing, September (59.5 expected, 59.9 in August)</p></li>\n</ul>\n<h3>Earnings calendar</h3>\n<ul>\n <li><p><b>Monday: </b>Aurora Cannabis (ACB) after market close</p></li>\n <li><p><b>Tuesday: </b>Micron Technology (MU) after market close.</p></li>\n <li><p><b>Wednesday: </b><i>No notable reports scheduled for release</i></p></li>\n <li><p><b>Thursday: </b>CarMax (KMX), Bed Bath &amp; Beyond (BBBY) before market open; Jefferies (JEF) after market close</p></li>\n <li><p><b>Friday: </b><i>No notable reports scheduled for releas</i></p></li>\n</ul>","source":"yahoofinance_au","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Debt ceiling debates in Congress, consumer confidence: What to know this week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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\">\nDebt ceiling debates in Congress, consumer confidence: What to know this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-27 03:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7e749e88d2580d292ffc6ae18d03b65","relate_stocks":{"SPY.AU":"SPDR® S&P 500® ETF Trust"},"source_url":"https://finance.yahoo.com/news/debt-ceiling-debates-in-congress-consumer-confidence-what-to-know-this-week-194329712.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2170488786","content_text":"Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the debt ceiling. Elsewhere, economic data on consumer confidence is also due for release.\nThe Senate is expected to vote Monday on a procedural motion over the legislation passed by the House of Representatives last week. That bill included a plan to temporarily fund the government through early December, and came alongside a measure to raise the government debt ceiling through December 2022.\nThe latter point has been an area of contention for Senate Republicans, who are only narrowly outnumbered by Democratic lawmakers in both chambers and who have threatened to block the bill in its current form.\nSenate Republicans including Minority Leader Mitch McConnell have suggested that Democratic lawmakers should use the budget reconciliation process to raise the debt ceiling without Republican support. McConnell has, however, supported a short-term government funding bill that excludes a debt ceiling suspension.\n\"If they [the Democrats] want to tax, borrow and spend historic sums of money without our input, they’ll have to raise the debt limit without our help. This is the reality,” McConnell said on the Senate floor last week.\nDemocratic lawmakers, for their part, have called for the move to raise the debt limit be bipartisan to prevent the government from defaulting on its obligations. The Treasury Department has warned that the U.S. could default on its debts as soon as October in absence of congressional action.\n\"The U.S. has always paid its bills on time, but the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt limit would produce widespread economic catastrophe,\" Treasury Secretary Janet Yellen wrote in an op-ed in the Wall Street Journal last week.\nFederal Reserve Chair Jerome Powell also warned of the consequences of a failure to raise the debt ceiling during his post-FOMC meeting press conference last week.\n\"It's just very important that the debt ceiling be raised in a timely fashion so that the United States can pay its bills when and as they come due. That's a critically important thing,\" he said. \"The failure to do that is something that could result in severe reactions, severe damage to the economy and to the financial markets ... no one should assume that the Fed or anyone else can protect the markets or the economy in the event of a failure.\"\nA dead Elm tree is removed on the West Front of the Capitol in Washington, Friday, Sept. 10, 2021. (AP Photo/J. Scott Applewhite)ASSOCIATED PRESS\nAmid the standoff, the Office of Management and Budget began warning federal agencies last week to prepare for a potential government shutdown. The reminder served as a standard warning one week out from Congress's deadline to reach an agreement to at least temporarily continue funding the government.\nThough leaders of both political parties have agreed that a continuing resolution to avoid the shutdown at the end of the month is needed, the ongoing tension over raising the debt limit has served as a potential roadblock in this effort.\n\"We still expect Congress to avert a partial government shutdown at the start of October. Republicans won’t vote for the current continuing resolution being touted by the Democratic leadership, which also includes a new debt ceiling suspension,\" wrote Paul Ashworth, chief North America economist for Capital Economics, in a note Friday. \"But we expect a Plan B to emerge next week with the latter stripped out, which Republicans will support.\"\n\"The bigger issue is that there doesn’t appear to be an easy path to raising the debt ceiling by mid-October, which is when estimates suggest the Treasury’s will exhaust the 'extraordinary measures it is currently using to keep the lights on,\" he added.\nInvestors have also grown jittery as the debates wore on, with stocks posting their worst day since May last week amid a confluence of concerns that also included debt concerns with China Evergrande.\nMany strategists, however, have suggested market participants need not be overly concerned about the impacts of a potential government shutdown.\n\"Historically, we've seen that government shutdowns tend to be short-lived,\" Jordan Jackson, JPMorgan Asset Management global market strategist, told Yahoo Finance Live on Friday. \"We also know that for those non-essential federal employees, they do get furlough pay as well.\"\n\"If it lasts more than 30 days, it's certainly going to have a bigger impact on the economy. But generally speaking, these shutdowns tend to be short-lived and markets — while they may correct in the short-term — they do sort of continue to grind higher,\" he added. \"I think it's certainly a risk in terms of a short-term mini correction there. But again, with all the liquidity out there, I think any sort of blip in the markets will be short-lived.\"\nHistorical equity performance during and immediately following a government shutdown has also tended to point to a muted market impact.\n\"In the 14 government shutdowns since 1980, the S&P 500 generated median returns of -0.1% on the dates of budget authority expiration, 0.1% during the shutdown periods, and 0.3% on the dates of resolution,\" David Kostin, Goldman Sachs chief equity strategist, wrote in a note published on Sept. 21.\n\"One notable exception was the most recent federal shutdown in December 2018, when the S&P 500 fell 2% on the spending authority expiration date,\" he added. \"However, this decline was likely driven primarily by investor concerns about Fed tightening.\"\nKostin also noted that the typical government shutdown since 1980 has only lasted three days before ultimately being resolved. More recent shutdowns have lasted several times longer, however, with the duration of the four most recent federal shutdowns averaging 18 days, Kostin said.\nConsumer confidence\nOn the economic data front, one of the most closely watched new pieces of data will be on consumer confidence.\nThe Conference Board is set to release its September consumer confidence index Tuesday morning. Economists expect the index to tick up only slightly compared to August, with consumers' views on the coronavirus and rising prices stabilizing near the lowest level since February.\nSpecifically, consensus economists are looking for the index to rise to 115.0 in September after dropping to 113.8 in August. During the last monthly report, consumers' assessments of current business and labor market conditions both eased, and expectations for the next six months out also deteriorated.\n\"Consumer confidence fell to a six-month low in August, due to concerns around the Delta variant and inflation,\" wrote Bank of America economist Michelle Meyer in a note on Friday. \"We think these concerns largely remained in September.\"\nAt the time, Lynn Franco, senior director of economic indicators at the Conference Board, said it was still \"too soon to conclude\" whether decline in consumer confidence would \"result in consumers significantly curtailing their spending in the months ahead.\"\nThe latest spending data has also been equivocal. The Commerce Department's latest report showed retail sales rose 0.7% in August after declining in July. However, the categories posting the biggest declines were areas like e-commerce shops and grocery stores, suggesting consumer behavior was shifting back toward stay-in-place trends and away from in-person events like restaurant dining amid the latest wave of the coronavirus.\nEconomic calendar\n\nMonday: Durable goods orders, August preliminary (0.6% expected, -0.1% in July); Durable goods excluding transportation, August preliminary (0.5% expected, 0.8% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.3% expected, 0.1% in July); Non-defense capital goods orders excluding aircraft, August preliminary (0.9% in July); Dallas Fed Manufacturing Activity Index, September (11.0 expected, 9.0 in July)\nTuesday: Advance goods trade balance, August (-$87.0 billion expected, -$86.4 billion in July); Wholesale inventories, month-over-month, August preliminary (0.6% in July); Retail inventories, month-over-month, August (0.4% in July); FHFA House Price Index, month-over-month, July (1.5% expected, 1.6% in July); S&P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, July (1.62% expected, 1.77% in June); S&P CoreLogic Case-Shiller 20-City Composite Index, month-over-month, July (20.1% expected, 19.08% in June); Conference Board Consumer Confidence Index, September (114.2 expected, 113.8 in August); Richmond Fed Manufacturing Index, September (9 in August)\nWednesday: MBA Mortgage Applications, week ended September 24 (4.9% during prior month); Pending home sales, month-over-month, August (1.0% expected, -1.8% in July)\nThursday: Initial jobless claims, week ended September 25 (320,000 expected, 351,000 during prior week); Continuing claims, week ended September 18 (2.845 million during prior week); GDP annualized, quarter-over-quarter, second-quarter third estimate (6.7% expected, 6.6% in prior estimate); Personal consumption, second-quarter third estimate (11.9% in prior estimate); Core personal consumption expenditures, second quarter third estimate (6.1% in prior estimate); MNI Chicago PMI, September (65.0 expected, 66.8 in August)\nFriday: Personal income, August (0.2% expected, 1.1% in July); Personal spending, August (0.7% expected, 0.3% in July); Personal consumption expenditures core deflator, month-over-over, August (0.2% expected, 0.3% in July); Personal consumption expenditures core deflator, year-over-year, August (3.6% expected, 3.6% in July); Markit manufacturing PMI, September final (60.5 in prior estimate); Construction spending, month-over-month, August (0.3% expected, 0.3% in July); University of Michigan sentiment, September final (71.0 expected, 71.0 in prior print); ISM Manufacturing, September (59.5 expected, 59.9 in August)\n\nEarnings calendar\n\nMonday: Aurora Cannabis (ACB) after market close\nTuesday: Micron Technology (MU) after market close.\nWednesday: No notable reports scheduled for release\nThursday: CarMax (KMX), Bed Bath & Beyond (BBBY) before market open; Jefferies (JEF) after market close\nFriday: No notable reports scheduled for releas","news_type":1,"symbols_score_info":{"SPY.AU":0.9}},"isVote":1,"tweetType":1,"viewCount":433,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":345489804,"gmtCreate":1618329614408,"gmtModify":1634293653370,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>keep rising!!","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>keep rising!!","text":"$Apple(AAPL)$keep rising!!","images":[{"img":"https://static.tigerbbs.com/621f17872cc20969274e2d922c5bac36","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/345489804","isVote":1,"tweetType":1,"viewCount":206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":893092009,"gmtCreate":1628219093401,"gmtModify":1631890338002,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"Waiting for Friday report","listText":"Waiting for Friday report","text":"Waiting for Friday report","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/893092009","repostId":"2157456017","repostType":4,"isVote":1,"tweetType":1,"viewCount":216,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157244608,"gmtCreate":1625585348804,"gmtModify":1631893414258,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"At least 3800 before year end","listText":"At least 3800 before year end","text":"At least 3800 before year end","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/157244608","repostId":"1129630404","repostType":4,"isVote":1,"tweetType":1,"viewCount":140,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198393867,"gmtCreate":1620922972459,"gmtModify":1631885010554,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SENS\">$Senseonics(SENS)$</a>Waiting for earningssss","listText":"<a href=\"https://laohu8.com/S/SENS\">$Senseonics(SENS)$</a>Waiting for earningssss","text":"$Senseonics(SENS)$Waiting for earningssss","images":[{"img":"https://static.tigerbbs.com/c0fc061a42f1d43112abd48d1c4481a2","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/198393867","isVote":1,"tweetType":1,"viewCount":220,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":826443776,"gmtCreate":1634049227204,"gmtModify":1634049266138,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/VALE\">$Vale SA(VALE)$</a>[流泪]&nbsp;","listText":"<a href=\"https://laohu8.com/S/VALE\">$Vale SA(VALE)$</a>[流泪]&nbsp;","text":"$Vale SA(VALE)$[流泪]","images":[{"img":"https://static.tigerbbs.com/a56eba918eaaac9116dbb0ad67248708","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/826443776","isVote":1,"tweetType":1,"viewCount":1526,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":838165764,"gmtCreate":1629381447158,"gmtModify":1631890337983,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"Waiting for a good entry point to prepare for Winter","listText":"Waiting for a good entry point to prepare for Winter","text":"Waiting for a good entry point to prepare for Winter","images":[{"img":"https://static.tigerbbs.com/8683b607c2ddcd1cb6390561aca864e7","width":"1080","height":"3013"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/838165764","isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":111064315,"gmtCreate":1622644948237,"gmtModify":1634099616068,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"Pls like and comment. Thank you!","listText":"Pls like and comment. Thank you!","text":"Pls like and comment. Thank you!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/111064315","repostId":"1139790754","repostType":4,"repost":{"id":"1139790754","kind":"news","pubTimestamp":1622642200,"share":"https://www.laohu8.com/m/news/1139790754?lang=&edition=full","pubTime":"2021-06-02 21:56","market":"us","language":"en","title":"Amazon: The Cash Will Come","url":"https://stock-news.laohu8.com/highlight/detail?id=1139790754","media":"seekingalpha","summary":"Summary\n\nAlthough Amazon benefited from COVID-induced shutdowns, the best is yet to come for free ca","content":"<p><b>Summary</b></p>\n<ul>\n <li>Although Amazon benefited from COVID-induced shutdowns, the best is yet to come for free cash flow.</li>\n <li>Lagging free cash flow growth in 2020 and 2021 is due to investment to support growth, going after massive opportunities.</li>\n <li>After lagging the market, the company is trading at an attractive valuation.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8a085447e5042d959bca14408fd50b9d\" tg-width=\"768\" tg-height=\"512\"><span>Photo by Bet_Noire/iStock via Getty Images</span></p>\n<p>Short-sighted investors are selling Amazon (AMZN), which has been a massive beneficiary of the COVID shutdowns, to fund dubious reopening plays like General Electric (GE) and Nucor (NUE). As a result, Amazon has lagged the market year-to-date and is now trading at an attractive valuation.</p>\n<p>Although Amazon's revenue and EPS has benefited tremendously from COVID, free cash flow has not. After the current spending cycle winds down, Amazon seems poised to experience an explosion of free cash flow by 2022 and 2023. After all, it is the cash that the company gets to keep for investors that makes the company powerful and investors rich.</p>\n<p><b>COVID Beneficiary</b></p>\n<p>Amazon has been a massive beneficiary of COVID. The company generated $386 billion of revenue in 2020, up 37.6% y/y. This Amazon's fastest growth rate since 2011, even including the inorganic contribution to growth in 2017 and 2018 when it&nbsp;acquired&nbsp;Whole Foods. Amazingly, the last time the company grew faster was in 2011 when the company generated \"only\" $48 billion in revenue. Who said elephants can't dance?</p>\n<p>In 2020, Amazon's e-commerce businesses experienced accelerated revenue growth:</p>\n<ul>\n <li>3rd Party Seller Services increased 49.6% to $80.4 billion.</li>\n <li>Online stores increased 39.7% to $197 billion.</li>\n</ul>\n<p>In 2020, the company's other businesses continued to decelerate, though likely at a lower deceleration than without COVID:</p>\n<ul>\n <li>Subscription Services grew 31.2% y/y $25.2 billion, a 4.4% point y/y deceleration vs. a 10.1% point deceleration the prior year.</li>\n <li>AWS grew 29.5% to $45.4 billion, a 7% point y/y deceleration vs. a 10.5% point deceleration the prior year.</li>\n</ul>\n<p>Physical stores, not surprisingly, is the only business that got hurt by COVID, declining 5.6% to $16.2 billion. A 5.6% decline isn't even that bad, and this business is a drop in the bucket given Amazon's total revenue of $489 billion in 2020.</p>\n<p>The COVID benefits largely extended into 2021 as consensus estimates put 2021 revenue growth at a robust 26.9% on top of tough comps.</p>\n<p>The company saw an even bigger increase in accounting profits. Operating income expanded to 5.9% in 2020, a 70 bps y/y expansion. It is important to note that excluding one-time $11.5 billion COVID-related expenses in 2020, Amazon's operating margin would have been 8.9% rather than the reported 5.9%.</p>\n<p>GAAP EPS grew an incredible 81.8% y/y to $41.83 per share.</p>\n<p><b>Where Is My Money?</b></p>\n<p>Although revenue grow 37.6% y/y and EPS grew 81.8% y/y in 2020, free cash flow growth lagged materially, growing only 20.1% y/y. 2021 is expected to be worse, with free cash flow expected to grow only 16.9%, just half the growth rate of its expected EPS growth that year.</p>\n<p>This because capital expenditure (\"Capex\") increased an incredible 176% y/y in 2020 to over $35 billion. This the largest y/y growth since at least 2007. In terms of absolute numbers, 2020 deployed an incremental $22 billion- an absolutely mind-boggling amount. Capex is expected to remain elevated in 2021, growing another 16% y/y to $41 billion.</p>\n<p>On top of all this spending, the company, on May 26, Amazon&nbsp;announced&nbsp;the acquisition of MGM Studios for $8.45 billion. I can see conservative, old-school investors' heads about to explode- but relax.</p>\n<p><b>The Spending and Free Cash Flow Cycle</b></p>\n<p>In my 2017 article,<i>Amazon Bears Will Get Crushed</i>, I addressed the same investor concern that Amazon is spending too much money, although the spending is at a much, much greater scale today.</p>\n<p>Back in 2017, investors were worried about Amazon's ramped up investments. In a nutshell, my argument was that investors should differentiate between investments going after large opportunities and a bloated cost structure. Generally speaking, unexpected expenses are bad, and - assuming that you trust management's ability - unexpected investments are good. If Warren Buffett said, \"I thought I was going to deploy $20 billion, but an opportunity came up where I can deploy $60 billion\", investors would be ecstatic. That opportunity, for Amazon, was the COVID-induced surge in demand.</p>\n<p>Relax, a surge in spending tends to be followed by years of moderate spending growth. After my 2017 article was published, 2018 and 2019 saw Capex growth of only 12-13% per year, while free cash flow grew 132% y/y in 2018 and 33% in 2019.</p>\n<p>We can see the same cycle in the 2010 - 2015 period. In 2010, Capex surged 163% y/y, then another 85% in 2011, and another 109% in 2012. Looking back, these were puny numbers in the low-single-digit of billions per year of Capex, which of course played a key role in supporting Amazon's future growth. However, in the subsequent three years, 2013 through 2015, Capex grew only 21%-<i>cumulatively</i>.</p>\n<p>By 2015, free cash flow exploded 276% to $7.3 billion, higher than the highest the company has ever generated until then by a factor of two to three.</p>\n<p>Wall Street is expecting the same cycle to play out this time around. In 2022, free cash flow is expected to grow 58% y/y as Capex growth moderates to +3%. In 2023, free cash flow is expected to grow another 44% to a record $82.6 billion as Capex growth is expected to remain low at +2% y/y.</p>\n<p><b>The Market Opportunity</b></p>\n<p>Some investors may take a little more convincing to get comfortable with those huge projected free cash flow numbers. $83 billion of free cash flow by 2023 is almost three times its 2020's free cash flow of $31 billion- already its highest ever. And an incremental $22 billion of Capex deployed in 2020 is a massive number.</p>\n<p>The market opportunity, however, is much more massive.</p>\n<p>Amazon's&nbsp;share&nbsp;of US e-commerce is approximately 50%. That is high, but the US retail market is sized at over $5 trillion, and Amazon has around a 9% share of the entire retail market, and only 3.3% of consumer spending. The company is poised to gain share as it adds greater convenience, more competitive prices and greater selection.</p>\n<p>Amazon is aggressively going after the much larger global retail market, which is&nbsp;sized&nbsp;at approximately $25 trillion. Amazon's expected 2021 revenue of $490 billion is less than 2% of the global opportunity.</p>\n<p>A large portion of Amazon's increase in Capex went to expanding the infrastructure necessary to meet the surge in e-commerce demand. For example, in 2020, Amazon grew its fulfillment square footage by 50% y/y.</p>\n<p>Another areas of spending is to support AWS, which is Capex intensive but highly profitable. At just 12% of 2020's revenue, AWS accounted for over 50% of the company's operating income.</p>\n<p>The global cloud computing market is&nbsp;expected&nbsp;to grow from $371.4 billion in 2020 to $832.1 billion by 2025, at a CAGR of 17.5%. Amazon's AWS generated $59 billion of revenue in 2020 and is expected to grow 31% in 2021 and 25% in 2023. This means AWS has less than 20% market share and is expected to take market share going forward.</p>\n<p>If Amazon has an opportunity to deploy more capital to support this highly profitable and rapidly growing business, thatis all great news to me.</p>\n<p>Management does not tell us exactly how the Capex is allocated and what the returns could look like. I don't think it is possible as an outsider to estimate the expected return of the incremental investments in retail (e-commerce, physical stores, subscription, etc.) vs. business services (AWS, advertising, etc.), because it would require that we analyze the company as separate businesses.</p>\n<p>Amazon is one giant flywheel that cannot be separated into partsany more than you can separate a turtle from its shell. For example, without the traffic generated by its retail business, advertising would not be possible. This obvious. Less obvious is that fact that AWS began as an e-commerce tool, way before it became the public cloud company giant it is today. And although seemingly different on the surface, both Amazon.com and AWS are at its core IT infrastructure platforms at scale. In addition, Amazon's other major initiatives, such as Alexa and streaming, are joined at the hip with e-commerce by Prime membership.</p>\n<p>But we do know one thing: the opportunity for continued growth is massive.</p>\n<p><b>Valuation</b></p>\n<p>Like most growth stocks, Amazon lagged the market so far this year, and valuation is looking attractive.</p>\n<p>Currently, Amazon is trading at 52 times forward EPS, down from 112 times in July 2020. The stock is trading at a 140% premium to the S&amp;P 500, the lowest in 5 years.</p>\n<p>On free cash flow yield, Amazon is yielding 2.6% forward free cash flow, which is towards the low end of its 5-year range. If we believe in the Capex and free cash flow cycle, the stock looks attractively valued.</p>\n<p><b>Takeaway</b></p>\n<p>Although Amazon benefited from COVID-induced shutdowns, the best is yet to come for free cash flow. After lagging the market, the company is trading at an attractive valuation given the large growth opportunities ahead of it, and the potential explosion in free cash flow in 2022 and 2023.</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 Cash Will 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\">\nAmazon: The Cash Will Come\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 21:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4432586-amazon-the-cash-will-come><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAlthough Amazon benefited from COVID-induced shutdowns, the best is yet to come for free cash flow.\nLagging free cash flow growth in 2020 and 2021 is due to investment to support growth, ...</p>\n\n<a href=\"https://seekingalpha.com/article/4432586-amazon-the-cash-will-come\">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/4432586-amazon-the-cash-will-come","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139790754","content_text":"Summary\n\nAlthough Amazon benefited from COVID-induced shutdowns, the best is yet to come for free cash flow.\nLagging free cash flow growth in 2020 and 2021 is due to investment to support growth, going after massive opportunities.\nAfter lagging the market, the company is trading at an attractive valuation.\n\nPhoto by Bet_Noire/iStock via Getty Images\nShort-sighted investors are selling Amazon (AMZN), which has been a massive beneficiary of the COVID shutdowns, to fund dubious reopening plays like General Electric (GE) and Nucor (NUE). As a result, Amazon has lagged the market year-to-date and is now trading at an attractive valuation.\nAlthough Amazon's revenue and EPS has benefited tremendously from COVID, free cash flow has not. After the current spending cycle winds down, Amazon seems poised to experience an explosion of free cash flow by 2022 and 2023. After all, it is the cash that the company gets to keep for investors that makes the company powerful and investors rich.\nCOVID Beneficiary\nAmazon has been a massive beneficiary of COVID. The company generated $386 billion of revenue in 2020, up 37.6% y/y. This Amazon's fastest growth rate since 2011, even including the inorganic contribution to growth in 2017 and 2018 when it acquired Whole Foods. Amazingly, the last time the company grew faster was in 2011 when the company generated \"only\" $48 billion in revenue. Who said elephants can't dance?\nIn 2020, Amazon's e-commerce businesses experienced accelerated revenue growth:\n\n3rd Party Seller Services increased 49.6% to $80.4 billion.\nOnline stores increased 39.7% to $197 billion.\n\nIn 2020, the company's other businesses continued to decelerate, though likely at a lower deceleration than without COVID:\n\nSubscription Services grew 31.2% y/y $25.2 billion, a 4.4% point y/y deceleration vs. a 10.1% point deceleration the prior year.\nAWS grew 29.5% to $45.4 billion, a 7% point y/y deceleration vs. a 10.5% point deceleration the prior year.\n\nPhysical stores, not surprisingly, is the only business that got hurt by COVID, declining 5.6% to $16.2 billion. A 5.6% decline isn't even that bad, and this business is a drop in the bucket given Amazon's total revenue of $489 billion in 2020.\nThe COVID benefits largely extended into 2021 as consensus estimates put 2021 revenue growth at a robust 26.9% on top of tough comps.\nThe company saw an even bigger increase in accounting profits. Operating income expanded to 5.9% in 2020, a 70 bps y/y expansion. It is important to note that excluding one-time $11.5 billion COVID-related expenses in 2020, Amazon's operating margin would have been 8.9% rather than the reported 5.9%.\nGAAP EPS grew an incredible 81.8% y/y to $41.83 per share.\nWhere Is My Money?\nAlthough revenue grow 37.6% y/y and EPS grew 81.8% y/y in 2020, free cash flow growth lagged materially, growing only 20.1% y/y. 2021 is expected to be worse, with free cash flow expected to grow only 16.9%, just half the growth rate of its expected EPS growth that year.\nThis because capital expenditure (\"Capex\") increased an incredible 176% y/y in 2020 to over $35 billion. This the largest y/y growth since at least 2007. In terms of absolute numbers, 2020 deployed an incremental $22 billion- an absolutely mind-boggling amount. Capex is expected to remain elevated in 2021, growing another 16% y/y to $41 billion.\nOn top of all this spending, the company, on May 26, Amazon announced the acquisition of MGM Studios for $8.45 billion. I can see conservative, old-school investors' heads about to explode- but relax.\nThe Spending and Free Cash Flow Cycle\nIn my 2017 article,Amazon Bears Will Get Crushed, I addressed the same investor concern that Amazon is spending too much money, although the spending is at a much, much greater scale today.\nBack in 2017, investors were worried about Amazon's ramped up investments. In a nutshell, my argument was that investors should differentiate between investments going after large opportunities and a bloated cost structure. Generally speaking, unexpected expenses are bad, and - assuming that you trust management's ability - unexpected investments are good. If Warren Buffett said, \"I thought I was going to deploy $20 billion, but an opportunity came up where I can deploy $60 billion\", investors would be ecstatic. That opportunity, for Amazon, was the COVID-induced surge in demand.\nRelax, a surge in spending tends to be followed by years of moderate spending growth. After my 2017 article was published, 2018 and 2019 saw Capex growth of only 12-13% per year, while free cash flow grew 132% y/y in 2018 and 33% in 2019.\nWe can see the same cycle in the 2010 - 2015 period. In 2010, Capex surged 163% y/y, then another 85% in 2011, and another 109% in 2012. Looking back, these were puny numbers in the low-single-digit of billions per year of Capex, which of course played a key role in supporting Amazon's future growth. However, in the subsequent three years, 2013 through 2015, Capex grew only 21%-cumulatively.\nBy 2015, free cash flow exploded 276% to $7.3 billion, higher than the highest the company has ever generated until then by a factor of two to three.\nWall Street is expecting the same cycle to play out this time around. In 2022, free cash flow is expected to grow 58% y/y as Capex growth moderates to +3%. In 2023, free cash flow is expected to grow another 44% to a record $82.6 billion as Capex growth is expected to remain low at +2% y/y.\nThe Market Opportunity\nSome investors may take a little more convincing to get comfortable with those huge projected free cash flow numbers. $83 billion of free cash flow by 2023 is almost three times its 2020's free cash flow of $31 billion- already its highest ever. And an incremental $22 billion of Capex deployed in 2020 is a massive number.\nThe market opportunity, however, is much more massive.\nAmazon's share of US e-commerce is approximately 50%. That is high, but the US retail market is sized at over $5 trillion, and Amazon has around a 9% share of the entire retail market, and only 3.3% of consumer spending. The company is poised to gain share as it adds greater convenience, more competitive prices and greater selection.\nAmazon is aggressively going after the much larger global retail market, which is sized at approximately $25 trillion. Amazon's expected 2021 revenue of $490 billion is less than 2% of the global opportunity.\nA large portion of Amazon's increase in Capex went to expanding the infrastructure necessary to meet the surge in e-commerce demand. For example, in 2020, Amazon grew its fulfillment square footage by 50% y/y.\nAnother areas of spending is to support AWS, which is Capex intensive but highly profitable. At just 12% of 2020's revenue, AWS accounted for over 50% of the company's operating income.\nThe global cloud computing market is expected to grow from $371.4 billion in 2020 to $832.1 billion by 2025, at a CAGR of 17.5%. Amazon's AWS generated $59 billion of revenue in 2020 and is expected to grow 31% in 2021 and 25% in 2023. This means AWS has less than 20% market share and is expected to take market share going forward.\nIf Amazon has an opportunity to deploy more capital to support this highly profitable and rapidly growing business, thatis all great news to me.\nManagement does not tell us exactly how the Capex is allocated and what the returns could look like. I don't think it is possible as an outsider to estimate the expected return of the incremental investments in retail (e-commerce, physical stores, subscription, etc.) vs. business services (AWS, advertising, etc.), because it would require that we analyze the company as separate businesses.\nAmazon is one giant flywheel that cannot be separated into partsany more than you can separate a turtle from its shell. For example, without the traffic generated by its retail business, advertising would not be possible. This obvious. Less obvious is that fact that AWS began as an e-commerce tool, way before it became the public cloud company giant it is today. And although seemingly different on the surface, both Amazon.com and AWS are at its core IT infrastructure platforms at scale. In addition, Amazon's other major initiatives, such as Alexa and streaming, are joined at the hip with e-commerce by Prime membership.\nBut we do know one thing: the opportunity for continued growth is massive.\nValuation\nLike most growth stocks, Amazon lagged the market so far this year, and valuation is looking attractive.\nCurrently, Amazon is trading at 52 times forward EPS, down from 112 times in July 2020. The stock is trading at a 140% premium to the S&P 500, the lowest in 5 years.\nOn free cash flow yield, Amazon is yielding 2.6% forward free cash flow, which is towards the low end of its 5-year range. If we believe in the Capex and free cash flow cycle, the stock looks attractively valued.\nTakeaway\nAlthough Amazon benefited from COVID-induced shutdowns, the best is yet to come for free cash flow. After lagging the market, the company is trading at an attractive valuation given the large growth opportunities ahead of it, and the potential explosion in free cash flow in 2022 and 2023.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":214,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194866901,"gmtCreate":1621354752303,"gmtModify":1634192173838,"author":{"id":"3578306475134606","authorId":"3578306475134606","name":"Apipu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578306475134606","authorIdStr":"3578306475134606"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/194866901","repostId":"2136785993","repostType":4,"isVote":1,"tweetType":1,"viewCount":37,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}