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cching88
2021-12-29
Ok
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cching88
2021-12-08
To the moon!
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cching88
2021-12-08
To the moon!
Apple: A True 'Never Sell' Position
cching88
2021-12-06
Like pls!
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the moon!","listText":"To the moon!","text":"To the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/606541764","repostId":"1195364731","repostType":4,"isVote":1,"tweetType":1,"viewCount":686,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606541804,"gmtCreate":1638908755122,"gmtModify":1638908755122,"author":{"id":"4101621076406760","authorId":"4101621076406760","name":"cching88","avatar":"https://static.tigerbbs.com/3d951aa6bc97a74da74a1834287a54b7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"To the moon!","listText":"To the moon!","text":"To the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/606541804","repostId":"1162682713","repostType":4,"repost":{"id":"1162682713","pubTimestamp":1638887298,"share":"https://www.laohu8.com/m/news/1162682713?lang=&edition=full","pubTime":"2021-12-07 22:28","market":"us","language":"en","title":"Apple: A True 'Never Sell' Position","url":"https://stock-news.laohu8.com/highlight/detail?id=1162682713","media":"Seeking Alpha","summary":"Summary\n\nWith $315B in authorized share buybacks and a 0.6% yield, Apple should return 4.3% on share","content":"<p><b>Summary</b></p>\n<ul>\n <li>With $315B in authorized share buybacks and a 0.6% yield, Apple should return 4.3% on shareholder-friendly practices alone.</li>\n <li>In addition, the company will still see double-digit growth in wearables and services, even if iPhone slows down a little.</li>\n <li>The Apple ecosystem also stands to get more intertwined with a potential Apple Car and AR/VR plays.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/404c4a2883110ed556fd9700c5cffb83\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>CatLane/iStock Unreleased via Getty Images</span></p>\n<p>At an almost $3T market cap, I am still a holder of Apple (AAPL). While I absolutely wish I would have bought more of this powerhouse in years past, I've made do with incremental gains from dividend reinvestment.</p>\n<p>The news cycle would have you believe that this behemoth has head-winds galore, and that the downfall could come any day now. With limited risk and potential galore, is the company worth buying today?</p>\n<p><b>Limited Risk</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1fe4e9d4f4aca197052840240959df43\" tg-width=\"640\" tg-height=\"831\" width=\"100%\" height=\"auto\"><span>Image: Forbes magazine cover, 2007</span></p>\n<p>I am familiar with cellphone manufacturers of days past. Nokia, for example, used to be the titan of industry. It was thought to be untouchable and then came the iPhone. I mean, just look at the Forbes cover above, \"can anyone catch the cell phone king?\"</p>\n<p>That cover hit news stands on November 12, 2007, a few months after the iPhone had made its debut. The straw that broke Nokia's back, and the feature which gives Apple a moat wider than Apple Park today, The App Store launched in mid-2008.</p>\n<p>The App Store, as simple as it may seem, gave Apple the keys to the kingdom. Rather than be limited to the few apps that came on your Nokia device, you could use one of the thousands of apps sold by third-party developers on the iPhone. This was the beginning of a world-beating ecosystem.</p>\n<p>Today, Apple's ecosystem has grown in a significant way. The growth of that ecosystem means that Apple \"fanboys\" would have to spend thousands of dollars, or work through significant inconveniences to switch.</p>\n<p>Consider the user that has subscriptions to several apps, Air Pods, an Apple Watch, iPhone, iPad, and perhaps a MacBook. That person is not an outlier. If they consider switching to Android they'll have to cancel those several apps, throw their Apple Watch out, replace the AirPods, and would lose lots of great tie-in messaging functionality across the iPad and MacBook.</p>\n<p>First-world problems, absolutely. The tie-in, however, is real. Apple make world-class products that users love. They get caught up in all the added accessories which deliver a great experience and then they are customers for life.</p>\n<p>Apple stock, for all intents and purposes, is a better place to keep your money than cash because of this lack of risk. Should something start to topple this house of cards, it wouldn't happen overnight, and it certainly won't happen as rapidly as it happened to Nokia because of the switching costs Apple has built up.</p>\n<p><b>Enviable Metrics</b></p>\n<p>Despite running up against the law of large numbers, Apple continues to look stellar when considering a number of different metrics.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/08f0199dd5d3c8dade8af08d884a5459\" tg-width=\"640\" tg-height=\"300\" width=\"100%\" height=\"auto\"><span>Image: Apple's debt per 10-K (Page 45)</span></p>\n<p>The worst metric, in my opinion, Apple has is a 1.7 debt-to-equity ratio. However, on that figure, my mind may be stuck in a good days of positive interest rates. Much of Apple's $109B of debt is at a negligible (0.03-2%) interest rate. Higher end servicing costs sit a hair below 5%, but this makes up a minority of Apple's debt per the company's 10-K filings.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/547e6241dab1a7aef3e649fb0f10d5ff\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p>\n<p>All of that money did not go into internal projects, however, it went to share buybacks. Perhaps no company epitomizes share buybacks like Apple has over the last decade. The company has retired hundreds of billions of dollars' worth of stock to shareholders benefit, and it continues to do so today.</p>\n<p>These share buybacks are why Berkshire Hathaway (BRK.B) now owns 5.5% of Apple. Back when many lauded Buffett for being late to the Apple train, he has proven his conviction worthwhile and helped an already massive Berkshire portfolio continue to beat the market with this high concentration investment.</p>\n<p>Buffett aside, Apple does excel in several metrics one should be looking for when investing in high-quality stocks. Return on equity here sits at an eye-popping 140% due to a pandemic induced expansion in net income.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/af2a898072faa8c46eeaa734222ff059\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p>\n<p>Given the amount of debt, return on invested capital, likely, is the better metric to take a look at here. Apple's ROIC has been consistently over the 20% mark, which is a sign of a fantastic business.</p>\n<p>Oh, and it probably goes without mentioning, but this business is cash rich. Apple, as of its last report, has $35B in cash on hand and $155B in marketable securities (a mix of current and non-current). With $190B in capital that the company can still deploy, Apple is certainly in an enviable position.</p>\n<p><b>Valuation: Rich</b></p>\n<p>Those metrics are not unknown, but they are incredible. It's no surprise that Apple will likely cross $3T market cap in the next year or so, but is the company worth buying at these high levels?</p>\n<p>As mentioned above, I view Apple as an almost cash like position. In a world of inflation, Apple has the balance sheet to carry it through, it has significant pricing power, and it has exceptionally high margins on its products to be able to weather the storm. Would you rather your money lose 5% of its buying power per year, or grow in an American titan like Apple?</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/159a160cc869ef1cc00bd4eb8db7bd93\" tg-width=\"1280\" tg-height=\"720\" width=\"100%\" height=\"auto\"><span>Image: A mockup VR headset via BGR</span></p>\n<p>A valuation of Apple also has to include the potential for an Apple Car, or the AR/VR headsets that will be with us within the next 18-months. These types of projects have been kept well under wraps, but considering the valuations of EV manufacturers like Tesla (TSLA) and Rivian (RIVN), the market will reward Apple rather richly for a well-executed product.</p>\n<p>An Apple car with deep iOS integration,as is speculated, would further drive the ecosystem flywheel. In fact, it would take that flywheel to unimaginable levels. Imagine trying to leave an ecosystem where you have to replace a $50K (and I'm probably being cheap) car, a phone, a computer... it's quite the lock in.</p>\n<p>Taking AR/VR into account, one would have to consider that AR could be a cannibalizing force for the iPhone. If one can see all they need through lenses and control those lenses through gestures or the Apple Watch, Apple could cannibalize the phone market.</p>\n<p>That, however, is a good thing. Apple could price a novel item like AR glasses with higher margins than a phone. Fans and tech enthusiasts would pay that early adopter price and others would soon follow suit if the product lives up to the hype. It gets Apple out of the \"$1,000 for a phone\" line of thinking.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/88a008b34566e3309b095ad284807d12\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p>\n<p>All this to say, Apple's rich valuation today is a worthy one. At a PE of ~29, it's hardly extortionate, but it is outside of Apple's average over the last five years.</p>\n<p>The ecosystem, one that ties its customers in for life, is where the value lies here and Apple has plans to expand that with vehicles and wearables. Even at a PE of 29, I believe this to be a secure long-term investment that will pay investors a dividend, albeit small, along the way while continuing to retire billions of dollars in stock ($315B authorized ~10%).</p>\n<p><b>Addressing The Risks</b></p>\n<p>Fear and inflation. Fear is the largest and most significant risk that Apple faces. Buyers told that bad times are coming tend to zip up their pocketbooks. Buyers who have to spend 10% more on groceries suddenly don't have enough to buy the latest iPhone.</p>\n<p>These are external concerns that Apple has little control over. The company has, over the years, introduced buy-now-pay-later and subscription programs that help buyers get the goods they want at an affordable monthly price, and, as discussed, Apple has substantial margins that it could use to overcome significant headwinds in this space.</p>\n<p>Execution is another risk Apple faces, especially as we look to these \"futuristic\" products. A self-driving car could be worth trillions of dollars in lifetime revenues, or it could be a dud upon release that never gets full approval to operate on the streets. Likewise, an AR headset that no one wants to be seen wearing, or that proves difficult to wear through the day, could be a dead-on-arrival product.</p>\n<p>Given the nature of these two products and the secrecy surrounding their development, one cannot truly assign a real risk rating to them. They're just things to be aware of. Apple does have a history of great execution (MacBook keyboard and Touch Bar aside), however, so an investor should feel at least somewhat comfortable that the company will put its best foot forward.</p>\n<p><b>Final Thoughts</b></p>\n<p>At a valuation nearing $3T one would assume there isn't much room left to run in Apple, but investors still stand to beat the overall market in this name thanks to excellent capital allocation.</p>\n<p>Apple has $315B in authorized buybacks and returns some $14.5B in dividends each year. Apple will likely buyback close to $100B in stock during its 2022 fiscal year which, alone, represents a 3.7% return on today's prices. Combined with a dividend yield of 0.6%, investors will make 4.3% on this name through shareholder friendly practices alone.</p>\n<p>Those numbers will compound too, another $100B in 2023, $100B in 2024, it all adds up. That $300B is all authorized too.</p>\n<p>Along with those buybacks and dividends, investors are buying into a company that, last year, defied laws of large numbers and grew its top-line at 33%. While unlikely this year, I still expect that the wearables and services divisions will grow at double digits which will allow Apple to see high single-digit revenue growth through the coming 3-5 years.</p>\n<p>Those with a bearish view on Apple act as though this juggernaut will vanish overnight, but that's simply not true. Sure, you're unlikely to pull down 30%+ annual returns going forward, but if you're looking for a high-quality stable business that can beat the market little-by-little, Apple is a great horse (or car) to back.</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: A True 'Never Sell' Position</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: A True 'Never Sell' Position\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-07 22:28 GMT+8 <a href=https://seekingalpha.com/article/4473801-apple-a-true-never-sell-position><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nWith $315B in authorized share buybacks and a 0.6% yield, Apple should return 4.3% on shareholder-friendly practices alone.\nIn addition, the company will still see double-digit growth in ...</p>\n\n<a href=\"https://seekingalpha.com/article/4473801-apple-a-true-never-sell-position\">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/4473801-apple-a-true-never-sell-position","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162682713","content_text":"Summary\n\nWith $315B in authorized share buybacks and a 0.6% yield, Apple should return 4.3% on shareholder-friendly practices alone.\nIn addition, the company will still see double-digit growth in wearables and services, even if iPhone slows down a little.\nThe Apple ecosystem also stands to get more intertwined with a potential Apple Car and AR/VR plays.\n\nCatLane/iStock Unreleased via Getty Images\nAt an almost $3T market cap, I am still a holder of Apple (AAPL). While I absolutely wish I would have bought more of this powerhouse in years past, I've made do with incremental gains from dividend reinvestment.\nThe news cycle would have you believe that this behemoth has head-winds galore, and that the downfall could come any day now. With limited risk and potential galore, is the company worth buying today?\nLimited Risk\nImage: Forbes magazine cover, 2007\nI am familiar with cellphone manufacturers of days past. Nokia, for example, used to be the titan of industry. It was thought to be untouchable and then came the iPhone. I mean, just look at the Forbes cover above, \"can anyone catch the cell phone king?\"\nThat cover hit news stands on November 12, 2007, a few months after the iPhone had made its debut. The straw that broke Nokia's back, and the feature which gives Apple a moat wider than Apple Park today, The App Store launched in mid-2008.\nThe App Store, as simple as it may seem, gave Apple the keys to the kingdom. Rather than be limited to the few apps that came on your Nokia device, you could use one of the thousands of apps sold by third-party developers on the iPhone. This was the beginning of a world-beating ecosystem.\nToday, Apple's ecosystem has grown in a significant way. The growth of that ecosystem means that Apple \"fanboys\" would have to spend thousands of dollars, or work through significant inconveniences to switch.\nConsider the user that has subscriptions to several apps, Air Pods, an Apple Watch, iPhone, iPad, and perhaps a MacBook. That person is not an outlier. If they consider switching to Android they'll have to cancel those several apps, throw their Apple Watch out, replace the AirPods, and would lose lots of great tie-in messaging functionality across the iPad and MacBook.\nFirst-world problems, absolutely. The tie-in, however, is real. Apple make world-class products that users love. They get caught up in all the added accessories which deliver a great experience and then they are customers for life.\nApple stock, for all intents and purposes, is a better place to keep your money than cash because of this lack of risk. Should something start to topple this house of cards, it wouldn't happen overnight, and it certainly won't happen as rapidly as it happened to Nokia because of the switching costs Apple has built up.\nEnviable Metrics\nDespite running up against the law of large numbers, Apple continues to look stellar when considering a number of different metrics.\nImage: Apple's debt per 10-K (Page 45)\nThe worst metric, in my opinion, Apple has is a 1.7 debt-to-equity ratio. However, on that figure, my mind may be stuck in a good days of positive interest rates. Much of Apple's $109B of debt is at a negligible (0.03-2%) interest rate. Higher end servicing costs sit a hair below 5%, but this makes up a minority of Apple's debt per the company's 10-K filings.\nData by YCharts\nAll of that money did not go into internal projects, however, it went to share buybacks. Perhaps no company epitomizes share buybacks like Apple has over the last decade. The company has retired hundreds of billions of dollars' worth of stock to shareholders benefit, and it continues to do so today.\nThese share buybacks are why Berkshire Hathaway (BRK.B) now owns 5.5% of Apple. Back when many lauded Buffett for being late to the Apple train, he has proven his conviction worthwhile and helped an already massive Berkshire portfolio continue to beat the market with this high concentration investment.\nBuffett aside, Apple does excel in several metrics one should be looking for when investing in high-quality stocks. Return on equity here sits at an eye-popping 140% due to a pandemic induced expansion in net income.\nData by YCharts\nGiven the amount of debt, return on invested capital, likely, is the better metric to take a look at here. Apple's ROIC has been consistently over the 20% mark, which is a sign of a fantastic business.\nOh, and it probably goes without mentioning, but this business is cash rich. Apple, as of its last report, has $35B in cash on hand and $155B in marketable securities (a mix of current and non-current). With $190B in capital that the company can still deploy, Apple is certainly in an enviable position.\nValuation: Rich\nThose metrics are not unknown, but they are incredible. It's no surprise that Apple will likely cross $3T market cap in the next year or so, but is the company worth buying at these high levels?\nAs mentioned above, I view Apple as an almost cash like position. In a world of inflation, Apple has the balance sheet to carry it through, it has significant pricing power, and it has exceptionally high margins on its products to be able to weather the storm. Would you rather your money lose 5% of its buying power per year, or grow in an American titan like Apple?\nImage: A mockup VR headset via BGR\nA valuation of Apple also has to include the potential for an Apple Car, or the AR/VR headsets that will be with us within the next 18-months. These types of projects have been kept well under wraps, but considering the valuations of EV manufacturers like Tesla (TSLA) and Rivian (RIVN), the market will reward Apple rather richly for a well-executed product.\nAn Apple car with deep iOS integration,as is speculated, would further drive the ecosystem flywheel. In fact, it would take that flywheel to unimaginable levels. Imagine trying to leave an ecosystem where you have to replace a $50K (and I'm probably being cheap) car, a phone, a computer... it's quite the lock in.\nTaking AR/VR into account, one would have to consider that AR could be a cannibalizing force for the iPhone. If one can see all they need through lenses and control those lenses through gestures or the Apple Watch, Apple could cannibalize the phone market.\nThat, however, is a good thing. Apple could price a novel item like AR glasses with higher margins than a phone. Fans and tech enthusiasts would pay that early adopter price and others would soon follow suit if the product lives up to the hype. It gets Apple out of the \"$1,000 for a phone\" line of thinking.\nData by YCharts\nAll this to say, Apple's rich valuation today is a worthy one. At a PE of ~29, it's hardly extortionate, but it is outside of Apple's average over the last five years.\nThe ecosystem, one that ties its customers in for life, is where the value lies here and Apple has plans to expand that with vehicles and wearables. Even at a PE of 29, I believe this to be a secure long-term investment that will pay investors a dividend, albeit small, along the way while continuing to retire billions of dollars in stock ($315B authorized ~10%).\nAddressing The Risks\nFear and inflation. Fear is the largest and most significant risk that Apple faces. Buyers told that bad times are coming tend to zip up their pocketbooks. Buyers who have to spend 10% more on groceries suddenly don't have enough to buy the latest iPhone.\nThese are external concerns that Apple has little control over. The company has, over the years, introduced buy-now-pay-later and subscription programs that help buyers get the goods they want at an affordable monthly price, and, as discussed, Apple has substantial margins that it could use to overcome significant headwinds in this space.\nExecution is another risk Apple faces, especially as we look to these \"futuristic\" products. A self-driving car could be worth trillions of dollars in lifetime revenues, or it could be a dud upon release that never gets full approval to operate on the streets. Likewise, an AR headset that no one wants to be seen wearing, or that proves difficult to wear through the day, could be a dead-on-arrival product.\nGiven the nature of these two products and the secrecy surrounding their development, one cannot truly assign a real risk rating to them. They're just things to be aware of. Apple does have a history of great execution (MacBook keyboard and Touch Bar aside), however, so an investor should feel at least somewhat comfortable that the company will put its best foot forward.\nFinal Thoughts\nAt a valuation nearing $3T one would assume there isn't much room left to run in Apple, but investors still stand to beat the overall market in this name thanks to excellent capital allocation.\nApple has $315B in authorized buybacks and returns some $14.5B in dividends each year. Apple will likely buyback close to $100B in stock during its 2022 fiscal year which, alone, represents a 3.7% return on today's prices. Combined with a dividend yield of 0.6%, investors will make 4.3% on this name through shareholder friendly practices alone.\nThose numbers will compound too, another $100B in 2023, $100B in 2024, it all adds up. That $300B is all authorized too.\nAlong with those buybacks and dividends, investors are buying into a company that, last year, defied laws of large numbers and grew its top-line at 33%. While unlikely this year, I still expect that the wearables and services divisions will grow at double digits which will allow Apple to see high single-digit revenue growth through the coming 3-5 years.\nThose with a bearish view on Apple act as though this juggernaut will vanish overnight, but that's simply not true. Sure, you're unlikely to pull down 30%+ annual returns going forward, but if you're looking for a high-quality stable business that can beat the market little-by-little, Apple is a great horse (or car) to back.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":608488902,"gmtCreate":1638778033613,"gmtModify":1638778917055,"author":{"id":"4101621076406760","authorId":"4101621076406760","name":"cching88","avatar":"https://static.tigerbbs.com/3d951aa6bc97a74da74a1834287a54b7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls!","listText":"Like pls!","text":"Like pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/608488902","repostId":"1107533977","repostType":4,"isVote":1,"tweetType":1,"viewCount":838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":608488902,"gmtCreate":1638778033613,"gmtModify":1638778917055,"author":{"id":"4101621076406760","authorId":"4101621076406760","name":"cching88","avatar":"https://static.tigerbbs.com/3d951aa6bc97a74da74a1834287a54b7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls!","listText":"Like pls!","text":"Like pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/608488902","repostId":"1107533977","repostType":4,"repost":{"id":"1107533977","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1638754268,"share":"https://www.laohu8.com/m/news/1107533977?lang=&edition=full","pubTime":"2021-12-06 09:31","market":"hk","language":"en","title":"Li Auto shares fell more than 14% in Hong Kong and XPeng fell nearly 9%.","url":"https://stock-news.laohu8.com/highlight/detail?id=1107533977","media":"Tiger Newspress","summary":"Li Auto shares fell more than 14% in Hong Kong and XPeng fell nearly 9%.","content":"<p>Li Auto shares fell more than 14% in Hong Kong and XPeng fell nearly 9%.<img src=\"https://static.tigerbbs.com/f4c63a9e3fe26341f23934616826c6a2\" tg-width=\"747\" tg-height=\"603\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/12cd5c05e050cc41f92f4263ac49921a\" tg-width=\"710\" tg-height=\"606\" width=\"100%\" height=\"auto\"></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>Li Auto shares fell more than 14% in Hong Kong and XPeng fell nearly 9%.</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\">\nLi Auto shares fell more than 14% in Hong Kong and XPeng fell nearly 9%.\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-12-06 09:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Li Auto shares fell more than 14% in Hong Kong and XPeng fell nearly 9%.<img src=\"https://static.tigerbbs.com/f4c63a9e3fe26341f23934616826c6a2\" tg-width=\"747\" tg-height=\"603\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/12cd5c05e050cc41f92f4263ac49921a\" tg-width=\"710\" tg-height=\"606\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车","02015":"理想汽车-W","09868":"小鹏汽车-W","LI":"理想汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107533977","content_text":"Li Auto shares fell more than 14% in Hong Kong and XPeng fell nearly 9%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606541764,"gmtCreate":1638908907316,"gmtModify":1638908907316,"author":{"id":"4101621076406760","authorId":"4101621076406760","name":"cching88","avatar":"https://static.tigerbbs.com/3d951aa6bc97a74da74a1834287a54b7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"To the moon!","listText":"To the moon!","text":"To the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/606541764","repostId":"1195364731","repostType":4,"repost":{"id":"1195364731","pubTimestamp":1638885960,"share":"https://www.laohu8.com/m/news/1195364731?lang=&edition=full","pubTime":"2021-12-07 22:06","market":"us","language":"en","title":"Tesla Stock Price Target Raised to $1,000 at UBS. Here Is Why.","url":"https://stock-news.laohu8.com/highlight/detail?id=1195364731","media":"Barrons","summary":"Shares of Tesla were rebounding Tuesday after UBS raised its price target on the stock, calling the ","content":"<p>Shares of Tesla were rebounding Tuesday after UBS raised its price target on the stock, calling the electric-vehicle company the “undisputed leader” in the market.</p>\n<p>Analyst Patrick Hummel increased his price target to $1,000 from $725, saying global demand for electric vehicles will propel the company to continue beating expectations in 2022. Hummel maintained a Neutral rating on the stock.</p>\n<p>The electric-vehicle manufacturer had a rough Monday, with the stock closing at $1,009.01, slipping dangerously close to its third bear market of the year. Tesla (ticker:TSLA) was faring better Tuesday, with shares rising 3.7% to $1,046 in premarket trading.</p>\n<p>Of the 41 analysts surveyed by FactSet, 17 rate the stock at Buy or Overweight, 12 rate it a Hold, and 12 rate it a Sell. The average price target is $851.09.</p>\n<p>Tesla’s access to chips and batteries through vertical integration sets it apart from its competitors, helping the company cement market leadership with about 20% global EV share, the analyst said.</p>\n<p>“We’ve raised estimates sharply to reflect this undisputed leadership, however, current valuation fully reflects such steep curve,” Hummel wrote in a research note Tuesday.</p>\n<p>The title of Hummel’s research note on Tesla was: “Cementing leadership as EV market takes off: New $1,000 price target (from $725) – no rival to get even close to Tesla in 2022.”</p>\n<p>Hummel is forecasting Tesla’s car sales to grow from 894,000 in 2021 to 1.4 million in 2022, and reach 2.9 million by 2025, more than competitors BMW (BMW.DE) or Mercedes-Benz.He expects EVs in general to account for 50% of global car sales by 2030.</p>\n<p>A big part of Tesla’s advantage is the software’s scalability, which can drive a big revenue pool with even higher margins well beyond 2025, Hummel said.</p>\n<p>“Software is the next battleground in the global car industry, and no other carmaker is closer to monetize fully autonomous driving for everyday use, and the scalability of Tesla’s technology creates the biggest software-driven revenue opportunity in the industry,” he wrote.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Price Target Raised to $1,000 at UBS. Here Is Why.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Price Target Raised to $1,000 at UBS. Here Is Why.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-07 22:06 GMT+8 <a href=https://www.barrons.com/articles/tesla-tsla-stock-price-target-raised-ubs-electric-vehicles-51638885474?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Tesla were rebounding Tuesday after UBS raised its price target on the stock, calling the electric-vehicle company the “undisputed leader” in the market.\nAnalyst Patrick Hummel increased his...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-tsla-stock-price-target-raised-ubs-electric-vehicles-51638885474?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-tsla-stock-price-target-raised-ubs-electric-vehicles-51638885474?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195364731","content_text":"Shares of Tesla were rebounding Tuesday after UBS raised its price target on the stock, calling the electric-vehicle company the “undisputed leader” in the market.\nAnalyst Patrick Hummel increased his price target to $1,000 from $725, saying global demand for electric vehicles will propel the company to continue beating expectations in 2022. Hummel maintained a Neutral rating on the stock.\nThe electric-vehicle manufacturer had a rough Monday, with the stock closing at $1,009.01, slipping dangerously close to its third bear market of the year. Tesla (ticker:TSLA) was faring better Tuesday, with shares rising 3.7% to $1,046 in premarket trading.\nOf the 41 analysts surveyed by FactSet, 17 rate the stock at Buy or Overweight, 12 rate it a Hold, and 12 rate it a Sell. The average price target is $851.09.\nTesla’s access to chips and batteries through vertical integration sets it apart from its competitors, helping the company cement market leadership with about 20% global EV share, the analyst said.\n“We’ve raised estimates sharply to reflect this undisputed leadership, however, current valuation fully reflects such steep curve,” Hummel wrote in a research note Tuesday.\nThe title of Hummel’s research note on Tesla was: “Cementing leadership as EV market takes off: New $1,000 price target (from $725) – no rival to get even close to Tesla in 2022.”\nHummel is forecasting Tesla’s car sales to grow from 894,000 in 2021 to 1.4 million in 2022, and reach 2.9 million by 2025, more than competitors BMW (BMW.DE) or Mercedes-Benz.He expects EVs in general to account for 50% of global car sales by 2030.\nA big part of Tesla’s advantage is the software’s scalability, which can drive a big revenue pool with even higher margins well beyond 2025, Hummel said.\n“Software is the next battleground in the global car industry, and no other carmaker is closer to monetize fully autonomous driving for everyday use, and the scalability of Tesla’s technology creates the biggest software-driven revenue opportunity in the industry,” he wrote.","news_type":1},"isVote":1,"tweetType":1,"viewCount":686,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696523759,"gmtCreate":1640737840697,"gmtModify":1640737840697,"author":{"id":"4101621076406760","authorId":"4101621076406760","name":"cching88","avatar":"https://static.tigerbbs.com/3d951aa6bc97a74da74a1834287a54b7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696523759","repostId":"1140175322","repostType":2,"repost":{"id":"1140175322","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640735905,"share":"https://www.laohu8.com/m/news/1140175322?lang=&edition=full","pubTime":"2021-12-29 07:58","market":"sh","language":"zh","title":"昨夜今晨：美股涨跌互现！福特市值再超通用汽车","url":"https://stock-news.laohu8.com/highlight/detail?id=1140175322","media":"老虎资讯综合","summary":"摘要：①美股涨跌互现涨，纳指跌0.56%，新能源汽车股集体走低，特斯拉跌0.5%；②预计新冠对经济影响有限，美油收高0.5%；③福特汽车收盘市值五年来首次超过通用汽车。\n\n海外市场\n1、美股涨跌互现！","content":"<blockquote>\n 摘要：①美股涨跌互现涨，纳指跌0.56%，新能源汽车股集体走低，<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>跌0.5%；②预计新冠对经济影响有限，美油收高0.5%；③<a href=\"https://laohu8.com/S/F\">福特汽车</a>收盘市值五年来首次超过<a href=\"https://laohu8.com/S/GM\">通用汽车</a>。\n</blockquote>\n<p>海外市场</p>\n<p>1、美股涨跌互现！道指5连涨新能源车股走低</p>\n<p>美股三大指数涨跌互现，截至收盘，道指续涨走出五连阳，但标普和纳指则终结连涨势头，双双收低。</p>\n<p>美国总统拜登正在考虑让Sarah Bloom Raskin担任美联储负责银行业监管的副主席一职，作为政府最具影响力的<a href=\"https://laohu8.com/S/BAC\">美国银行</a>业体系监管者。</p>\n<p>截至收盘，道指涨0.26%，标普500指数跌0.1%，纳指跌0.56%。</p>\n<p>大型科技股涨跌不一，按市值排列，<a href=\"https://laohu8.com/S/AAPL\">苹果</a>跌0.58%，市值降至2.941万亿美元。<a href=\"https://laohu8.com/S/MSFT\">微软</a>跌0.35%，<a href=\"https://laohu8.com/S/GOOGL\">谷歌A</a>跌1.09%，<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>涨0.58%。</p>\n<p>新能源汽车股集体走低，特斯拉跌0.5%，Rivian跌3.94%，Lucid跌4.3%。福特汽车收盘市值五年来首次超过通用汽车，福特汽车收跌0.19%，通用汽车跌0.56%。</p>\n<p>2、热门中概股周二收盘多数走低 <a href=\"https://laohu8.com/S/EBON\">亿邦国际</a>跌超10%</p>\n<p>热门中概股周二收盘多数走低，亿邦国际、一起教育等跌幅居前，新能源汽车股涨跌不一。</p>\n<p>其它中概股方面，<a href=\"https://laohu8.com/S/CPOP\">普普文化</a>涨近36%，<a href=\"https://laohu8.com/S/UCL\">优克联</a>涨超8%，<a href=\"https://laohu8.com/S/UK\">优客工场</a>涨超6%，荔涨超3%，<a href=\"https://laohu8.com/S/JOBS\">前程无忧</a>涨超2%，<a href=\"https://laohu8.com/S/BEKE\">贝壳</a>涨近1%。</p>\n<p>新能源汽车股中，<a href=\"https://laohu8.com/S/NIO\">蔚来</a>汽车、<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>跌超1%，<a href=\"https://laohu8.com/S/LI\">理想汽车</a>跌0.2%。</p>\n<p>3、欧洲两大股指28日上涨</p>\n<p>法国巴黎股市CAC40指数当天报收于7181.11点，比前一交易日上涨40.72点，涨幅为0.57%；德国法兰克福股市DAX指数报收于15963.70点，比前一交易日上涨128.45点，涨幅为0.81%。</p>\n<p>4、美国WTI原油周二收高0.5% 连续第五日上涨</p>\n<p>美国原油期货周二录得连续第五个交易日上涨，因市场预计新冠奥密克戎变异毒株对经济增长的影响有限。</p>\n<p>纽约商品交易所2月交割的西德克萨斯中质原油（WTI）期货价格上涨41美分，涨幅为0.5%，收于每桶75.98美元。周二盘中，该期货一度触及盘中高点76.92美元。</p>\n<p>5、黄金期货周二收高0.1%</p>\n<p>黄金期货周二收高，录得过去四个交易日中的第三次上涨。但美元走强使黄金期货价格受到抑制。</p>\n<p>纽约商品交易所2月交割的黄金期货价格上涨2.10美元，涨幅为0.1%，收于每盎司1810.90美元，盘中最高上涨至1821.60美元。周一黄金期货价格收跌0.2%。</p>\n<p>6、气价下跌+气温回暖，德国明年1月电力期货跌超3%</p>\n<p>由于在天然气价格持续下跌的同时，明年年初将回暖的天气或削减能源需求，德国明年1月电力期货价格跌3.3%，至每兆瓦时255欧元，而欧洲能源交易所（EEX）公布的明年基准合约价格下跌0.5%，至219.60欧元。</p>\n<p>气象公司Maxar预计，鉴于欧洲将出现气温回暖，因此能源需求仍相对疲弱。</p>\n<p>国际宏观</p>\n<p>1、纳指势将跑输标普500指数 为2016年来首次</p>\n<p>由于投资者回避科技股，纳斯达克综合指数有望自2016年以来首次跑输标普500指数。</p>\n<p>截至周一，以科技股为主的纳斯达克综合指数全年上涨23%，落后于标普500指数近28%的涨幅。标普500指数最近两次跑赢纳指发生在2016年和2011年。</p>\n<p>2、<a href=\"https://laohu8.com/NW/2195439441\" target=\"_blank\">拜登重塑美联储再进一步：华尔街监管者和两名理事人选浮出水面</a></p>\n<p>据华尔街日报援引知情人士，拜登正在考虑让Sarah Bloom Raskin担任美联储负责监管的副主席，也即美国银行系统最有影响力的监管者。</p>\n<p>Raskin是律师出身，在奥巴马政府时期担任过美联储和财政部的要职，包括2010至2014年间担任美联储理事，2014至2017年间担任财政部副部长。</p>\n<p>3、<a href=\"https://laohu8.com/NW/2195422439\" target=\"_blank\">以史为鉴：苹果市值突破万亿大关即暴跌 大盘指数也随之修正</a></p>\n<p>自新冠大流行爆发以来，苹果公司的股价就成了市场情绪一个重要的风向标。周一，苹果收涨2.30%，创2021年第24个收盘新高，总市值达到2.958万亿美元。</p>\n<p>要想达到3万亿美元的市值，苹果股价需要达到182.86美元。截至发稿，苹果股价报179.67美元，鉴于近期可能出现“圣诞老人行情”，苹果达到下一个万亿美元的门槛已经近在眼前。不过，以历史经验看来，这对大盘可能不是一件好事。</p>\n<p>4、拜登考虑让Raskin担任美联储最高银行业监管官员</p>\n<p>据报道，美国总统拜登正考虑让Sarah Bloom Raskin担任美联储负责银行业监管的副主席一职，作为政府最具影响力的美国银行业体系监管者。</p>\n<p>Raskin曾在奥巴马政府时期担任过美联储理事和美国财政部副部长。</p>\n<p>5、美国10月房价涨幅连续第三个月放缓 尽管放缓程度非常小</p>\n<p>美国10月份房价涨幅连续第三个月放缓。</p>\n<p>周二发布的指数显示，标普<a href=\"https://laohu8.com/S/CLGX\">CoreLogic</a>凯斯-席勒美国20城房价指数10月份上涨18.4%，涨幅低于9月份的19.1%。</p>\n<p>6、日本央行全年ETF购买规模料降至2012年以来最低</p>\n<p>根据媒体整理数据，截至12月27日，日本央行总计购买了8734亿日元（76亿美元）的交易所交易基金（ETF）。这只有去年为支持市场而购买的7.1万亿日元规模的一小部分，也将创出2012年以来的最低购买规模。</p>\n<p>7、<a href=\"https://laohu8.com/NW/2195630431\" target=\"_blank\">语出惊人！拜登：联邦政府能力有限，抗疫还要“仰仗地方”</a></p>\n<p>本月27日，美国总统拜登在与各州州长的视频会议中“语出惊人”，表示联邦政府能力有限，抗疫事业还是要“仰仗地方”。</p>\n<p>这番“推卸责任”的表态引发了美国舆论的广泛质疑，因为这与其竞选之初的说辞完全背离。</p>\n<p>8、卷土重来？美共和党扬言明年夺回参众两院控制权，将再现“红潮”</p>\n<p>虽然距离2022年美国国会中期选举还有大约10个月时间，但共和党人十分自信，认为明年的选举将再现“红潮”，共和党将夺回对参众两院的控制权。</p>\n<p>9、<a href=\"https://laohu8.com/NW/2194433231\" target=\"_blank\">100万桶/日！这一国家今年原油产量已翻一番</a></p>\n<p>委内瑞拉国家石油公司（PDVSA）在推特上宣布，其石油日产量已超过100万桶，为三年来首次，该国石油部长塔雷克·埃尔·艾萨米在圣诞节的一次讲话中称之为“伟大的胜利”。</p>\n<p>10、<a href=\"https://laohu8.com/NW/2194546433\" target=\"_blank\">什么情况？交易员开始大规模买入美股看跌期权</a></p>\n<p>“当通货膨胀、创纪录的高资产价格和不断上升的利率三者重叠时，人们总想获得一些额外的保护。”</p>\n<p>越来越多的美股投资者开始买入看跌期权，为可能的下跌做准备。</p>\n<p>公司新闻</p>\n<p>1、<a href=\"https://laohu8.com/NW/2195748439\" target=\"_blank\">竞争对手挖墙角太厉害 苹果以18万美元特别股票奖励慰留</a></p>\n<p>为了留住人才，苹果公司向一些工程师发放了高额特别股票奖励，以免他们跳槽去Facebook(346.22, 0.04, 0.01%)母公司<a href=\"https://laohu8.com/S/FB\">Meta Platforms</a> Inc．等竞争对手。</p>\n<p>知情人士称，苹果公司上周通知芯片设计、硬件以及部分软件和运营部门的一些工程师，将以限制性股票形式向他们发放特别奖金。这些股票分四年归属，以鼓励工程师留在这家iPhone制造商。</p>\n<p>2、<a href=\"https://laohu8.com/NW/2195392294\" target=\"_blank\">PayPal欲通过合作伙伴关系和收购在日本扩张</a></p>\n<p>PayPal首席执行官Dan Schulman在接受媒体采访时表示，该公司将合作伙伴关系和收购视为扩大其在日本业务的关键，而不仅仅是专注于其PayPal品牌。</p>\n<p>PayPal在今年9月份朝这个方向迈出了一大步，当时该公司同意以27亿美元现金形式收购日本“先买后付”平台Paidy，以加强其在日本的业务。</p>\n<p>3、<a href=\"https://laohu8.com/NW/2195362444\" target=\"_blank\">知名特斯拉多头维持1400美元目标价 强调增长关键仍是中国市场</a></p>\n<p>知名特斯拉多头、投行Wedbush认为，进入2022年后，特斯拉公司仍处于强势地位。</p>\n<p>理由是中国需求将推动业务增长，以及在美德两国的新工厂有望缓解供不应求的局面。</p>\n<p>分析师Daniel Ives在说明中写道，特斯拉的股票在未来12个月内可能上涨近30%。Ives预计明年汽车部件短缺将得到缓解，公司能够更好地满足中国日益增长的需求，而在得州奥斯汀和柏林的新工厂应能缓解全球生产瓶颈问题。</p>\n<p>4、<a href=\"https://laohu8.com/NW/2195436320\" target=\"_blank\">印尼批准波音737 MAX复飞</a></p>\n<p>在印度尼西亚狮子航空公司一架波音737 MAX客机失事三年多后，印尼交通部于12月28日解除对这一机型的禁飞令。</p>\n<p>印尼交通部在一份声明中宣布，作为监管部门，交通部民航总局完成对波音737 MAX客机系统更改的评估后，决定解除禁飞令。</p>\n<p>5、日媒：丰田、马自达等日本车企2022年将为主要车型配备自动驾驶技术</p>\n<p>包括<a href=\"https://laohu8.com/S/TM\">丰田汽车</a>和马自达在内的日本车企，到2022年左右将为其主要车型配备自动驾驶技术。这些车企将安装Level 2和以上的功能，比如在公路上仍由司机来主要操作的自动驾驶。</p>\n<p>6、<a href=\"https://laohu8.com/NW/1103341920\" target=\"_blank\">京东集团：股份回购授权由20亿美元增至30亿美元</a></p>\n<p><a href=\"https://laohu8.com/S/JD\">京东</a>集团在港交所公告，董事会已批准修改于2020年3月采纳的现有股份回购计划，据此，回购授权由20亿美元增至30亿美元，并延长至2024年3月17日。</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>昨夜今晨：美股涨跌互现！福特市值再超通用汽车</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n昨夜今晨：美股涨跌互现！福特市值再超通用汽车\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-12-29 07:58</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n 摘要：①美股涨跌互现涨，纳指跌0.56%，新能源汽车股集体走低，<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>跌0.5%；②预计新冠对经济影响有限，美油收高0.5%；③<a href=\"https://laohu8.com/S/F\">福特汽车</a>收盘市值五年来首次超过<a href=\"https://laohu8.com/S/GM\">通用汽车</a>。\n</blockquote>\n<p>海外市场</p>\n<p>1、美股涨跌互现！道指5连涨新能源车股走低</p>\n<p>美股三大指数涨跌互现，截至收盘，道指续涨走出五连阳，但标普和纳指则终结连涨势头，双双收低。</p>\n<p>美国总统拜登正在考虑让Sarah Bloom Raskin担任美联储负责银行业监管的副主席一职，作为政府最具影响力的<a href=\"https://laohu8.com/S/BAC\">美国银行</a>业体系监管者。</p>\n<p>截至收盘，道指涨0.26%，标普500指数跌0.1%，纳指跌0.56%。</p>\n<p>大型科技股涨跌不一，按市值排列，<a href=\"https://laohu8.com/S/AAPL\">苹果</a>跌0.58%，市值降至2.941万亿美元。<a href=\"https://laohu8.com/S/MSFT\">微软</a>跌0.35%，<a href=\"https://laohu8.com/S/GOOGL\">谷歌A</a>跌1.09%，<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>涨0.58%。</p>\n<p>新能源汽车股集体走低，特斯拉跌0.5%，Rivian跌3.94%，Lucid跌4.3%。福特汽车收盘市值五年来首次超过通用汽车，福特汽车收跌0.19%，通用汽车跌0.56%。</p>\n<p>2、热门中概股周二收盘多数走低 <a href=\"https://laohu8.com/S/EBON\">亿邦国际</a>跌超10%</p>\n<p>热门中概股周二收盘多数走低，亿邦国际、一起教育等跌幅居前，新能源汽车股涨跌不一。</p>\n<p>其它中概股方面，<a href=\"https://laohu8.com/S/CPOP\">普普文化</a>涨近36%，<a href=\"https://laohu8.com/S/UCL\">优克联</a>涨超8%，<a href=\"https://laohu8.com/S/UK\">优客工场</a>涨超6%，荔涨超3%，<a href=\"https://laohu8.com/S/JOBS\">前程无忧</a>涨超2%，<a href=\"https://laohu8.com/S/BEKE\">贝壳</a>涨近1%。</p>\n<p>新能源汽车股中，<a href=\"https://laohu8.com/S/NIO\">蔚来</a>汽车、<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>跌超1%，<a href=\"https://laohu8.com/S/LI\">理想汽车</a>跌0.2%。</p>\n<p>3、欧洲两大股指28日上涨</p>\n<p>法国巴黎股市CAC40指数当天报收于7181.11点，比前一交易日上涨40.72点，涨幅为0.57%；德国法兰克福股市DAX指数报收于15963.70点，比前一交易日上涨128.45点，涨幅为0.81%。</p>\n<p>4、美国WTI原油周二收高0.5% 连续第五日上涨</p>\n<p>美国原油期货周二录得连续第五个交易日上涨，因市场预计新冠奥密克戎变异毒株对经济增长的影响有限。</p>\n<p>纽约商品交易所2月交割的西德克萨斯中质原油（WTI）期货价格上涨41美分，涨幅为0.5%，收于每桶75.98美元。周二盘中，该期货一度触及盘中高点76.92美元。</p>\n<p>5、黄金期货周二收高0.1%</p>\n<p>黄金期货周二收高，录得过去四个交易日中的第三次上涨。但美元走强使黄金期货价格受到抑制。</p>\n<p>纽约商品交易所2月交割的黄金期货价格上涨2.10美元，涨幅为0.1%，收于每盎司1810.90美元，盘中最高上涨至1821.60美元。周一黄金期货价格收跌0.2%。</p>\n<p>6、气价下跌+气温回暖，德国明年1月电力期货跌超3%</p>\n<p>由于在天然气价格持续下跌的同时，明年年初将回暖的天气或削减能源需求，德国明年1月电力期货价格跌3.3%，至每兆瓦时255欧元，而欧洲能源交易所（EEX）公布的明年基准合约价格下跌0.5%，至219.60欧元。</p>\n<p>气象公司Maxar预计，鉴于欧洲将出现气温回暖，因此能源需求仍相对疲弱。</p>\n<p>国际宏观</p>\n<p>1、纳指势将跑输标普500指数 为2016年来首次</p>\n<p>由于投资者回避科技股，纳斯达克综合指数有望自2016年以来首次跑输标普500指数。</p>\n<p>截至周一，以科技股为主的纳斯达克综合指数全年上涨23%，落后于标普500指数近28%的涨幅。标普500指数最近两次跑赢纳指发生在2016年和2011年。</p>\n<p>2、<a href=\"https://laohu8.com/NW/2195439441\" target=\"_blank\">拜登重塑美联储再进一步：华尔街监管者和两名理事人选浮出水面</a></p>\n<p>据华尔街日报援引知情人士，拜登正在考虑让Sarah Bloom Raskin担任美联储负责监管的副主席，也即美国银行系统最有影响力的监管者。</p>\n<p>Raskin是律师出身，在奥巴马政府时期担任过美联储和财政部的要职，包括2010至2014年间担任美联储理事，2014至2017年间担任财政部副部长。</p>\n<p>3、<a href=\"https://laohu8.com/NW/2195422439\" target=\"_blank\">以史为鉴：苹果市值突破万亿大关即暴跌 大盘指数也随之修正</a></p>\n<p>自新冠大流行爆发以来，苹果公司的股价就成了市场情绪一个重要的风向标。周一，苹果收涨2.30%，创2021年第24个收盘新高，总市值达到2.958万亿美元。</p>\n<p>要想达到3万亿美元的市值，苹果股价需要达到182.86美元。截至发稿，苹果股价报179.67美元，鉴于近期可能出现“圣诞老人行情”，苹果达到下一个万亿美元的门槛已经近在眼前。不过，以历史经验看来，这对大盘可能不是一件好事。</p>\n<p>4、拜登考虑让Raskin担任美联储最高银行业监管官员</p>\n<p>据报道，美国总统拜登正考虑让Sarah Bloom Raskin担任美联储负责银行业监管的副主席一职，作为政府最具影响力的美国银行业体系监管者。</p>\n<p>Raskin曾在奥巴马政府时期担任过美联储理事和美国财政部副部长。</p>\n<p>5、美国10月房价涨幅连续第三个月放缓 尽管放缓程度非常小</p>\n<p>美国10月份房价涨幅连续第三个月放缓。</p>\n<p>周二发布的指数显示，标普<a href=\"https://laohu8.com/S/CLGX\">CoreLogic</a>凯斯-席勒美国20城房价指数10月份上涨18.4%，涨幅低于9月份的19.1%。</p>\n<p>6、日本央行全年ETF购买规模料降至2012年以来最低</p>\n<p>根据媒体整理数据，截至12月27日，日本央行总计购买了8734亿日元（76亿美元）的交易所交易基金（ETF）。这只有去年为支持市场而购买的7.1万亿日元规模的一小部分，也将创出2012年以来的最低购买规模。</p>\n<p>7、<a href=\"https://laohu8.com/NW/2195630431\" target=\"_blank\">语出惊人！拜登：联邦政府能力有限，抗疫还要“仰仗地方”</a></p>\n<p>本月27日，美国总统拜登在与各州州长的视频会议中“语出惊人”，表示联邦政府能力有限，抗疫事业还是要“仰仗地方”。</p>\n<p>这番“推卸责任”的表态引发了美国舆论的广泛质疑，因为这与其竞选之初的说辞完全背离。</p>\n<p>8、卷土重来？美共和党扬言明年夺回参众两院控制权，将再现“红潮”</p>\n<p>虽然距离2022年美国国会中期选举还有大约10个月时间，但共和党人十分自信，认为明年的选举将再现“红潮”，共和党将夺回对参众两院的控制权。</p>\n<p>9、<a href=\"https://laohu8.com/NW/2194433231\" target=\"_blank\">100万桶/日！这一国家今年原油产量已翻一番</a></p>\n<p>委内瑞拉国家石油公司（PDVSA）在推特上宣布，其石油日产量已超过100万桶，为三年来首次，该国石油部长塔雷克·埃尔·艾萨米在圣诞节的一次讲话中称之为“伟大的胜利”。</p>\n<p>10、<a href=\"https://laohu8.com/NW/2194546433\" target=\"_blank\">什么情况？交易员开始大规模买入美股看跌期权</a></p>\n<p>“当通货膨胀、创纪录的高资产价格和不断上升的利率三者重叠时，人们总想获得一些额外的保护。”</p>\n<p>越来越多的美股投资者开始买入看跌期权，为可能的下跌做准备。</p>\n<p>公司新闻</p>\n<p>1、<a href=\"https://laohu8.com/NW/2195748439\" target=\"_blank\">竞争对手挖墙角太厉害 苹果以18万美元特别股票奖励慰留</a></p>\n<p>为了留住人才，苹果公司向一些工程师发放了高额特别股票奖励，以免他们跳槽去Facebook(346.22, 0.04, 0.01%)母公司<a href=\"https://laohu8.com/S/FB\">Meta Platforms</a> Inc．等竞争对手。</p>\n<p>知情人士称，苹果公司上周通知芯片设计、硬件以及部分软件和运营部门的一些工程师，将以限制性股票形式向他们发放特别奖金。这些股票分四年归属，以鼓励工程师留在这家iPhone制造商。</p>\n<p>2、<a href=\"https://laohu8.com/NW/2195392294\" target=\"_blank\">PayPal欲通过合作伙伴关系和收购在日本扩张</a></p>\n<p>PayPal首席执行官Dan Schulman在接受媒体采访时表示，该公司将合作伙伴关系和收购视为扩大其在日本业务的关键，而不仅仅是专注于其PayPal品牌。</p>\n<p>PayPal在今年9月份朝这个方向迈出了一大步，当时该公司同意以27亿美元现金形式收购日本“先买后付”平台Paidy，以加强其在日本的业务。</p>\n<p>3、<a href=\"https://laohu8.com/NW/2195362444\" target=\"_blank\">知名特斯拉多头维持1400美元目标价 强调增长关键仍是中国市场</a></p>\n<p>知名特斯拉多头、投行Wedbush认为，进入2022年后，特斯拉公司仍处于强势地位。</p>\n<p>理由是中国需求将推动业务增长，以及在美德两国的新工厂有望缓解供不应求的局面。</p>\n<p>分析师Daniel Ives在说明中写道，特斯拉的股票在未来12个月内可能上涨近30%。Ives预计明年汽车部件短缺将得到缓解，公司能够更好地满足中国日益增长的需求，而在得州奥斯汀和柏林的新工厂应能缓解全球生产瓶颈问题。</p>\n<p>4、<a href=\"https://laohu8.com/NW/2195436320\" target=\"_blank\">印尼批准波音737 MAX复飞</a></p>\n<p>在印度尼西亚狮子航空公司一架波音737 MAX客机失事三年多后，印尼交通部于12月28日解除对这一机型的禁飞令。</p>\n<p>印尼交通部在一份声明中宣布，作为监管部门，交通部民航总局完成对波音737 MAX客机系统更改的评估后，决定解除禁飞令。</p>\n<p>5、日媒：丰田、马自达等日本车企2022年将为主要车型配备自动驾驶技术</p>\n<p>包括<a href=\"https://laohu8.com/S/TM\">丰田汽车</a>和马自达在内的日本车企，到2022年左右将为其主要车型配备自动驾驶技术。这些车企将安装Level 2和以上的功能，比如在公路上仍由司机来主要操作的自动驾驶。</p>\n<p>6、<a href=\"https://laohu8.com/NW/1103341920\" target=\"_blank\">京东集团：股份回购授权由20亿美元增至30亿美元</a></p>\n<p><a href=\"https://laohu8.com/S/JD\">京东</a>集团在港交所公告，董事会已批准修改于2020年3月采纳的现有股份回购计划，据此，回购授权由20亿美元增至30亿美元，并延长至2024年3月17日。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{"BK4099":"汽车制造商","F":"福特汽车","BK4561":"索罗斯持仓","BK4559":"巴菲特持仓","BK4555":"新能源车","GM":"通用汽车","BK4566":"资本集团"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140175322","content_text":"摘要：①美股涨跌互现涨，纳指跌0.56%，新能源汽车股集体走低，特斯拉跌0.5%；②预计新冠对经济影响有限，美油收高0.5%；③福特汽车收盘市值五年来首次超过通用汽车。\n\n海外市场\n1、美股涨跌互现！道指5连涨新能源车股走低\n美股三大指数涨跌互现，截至收盘，道指续涨走出五连阳，但标普和纳指则终结连涨势头，双双收低。\n美国总统拜登正在考虑让Sarah Bloom Raskin担任美联储负责银行业监管的副主席一职，作为政府最具影响力的美国银行业体系监管者。\n截至收盘，道指涨0.26%，标普500指数跌0.1%，纳指跌0.56%。\n大型科技股涨跌不一，按市值排列，苹果跌0.58%，市值降至2.941万亿美元。微软跌0.35%，谷歌A跌1.09%，亚马逊涨0.58%。\n新能源汽车股集体走低，特斯拉跌0.5%，Rivian跌3.94%，Lucid跌4.3%。福特汽车收盘市值五年来首次超过通用汽车，福特汽车收跌0.19%，通用汽车跌0.56%。\n2、热门中概股周二收盘多数走低 亿邦国际跌超10%\n热门中概股周二收盘多数走低，亿邦国际、一起教育等跌幅居前，新能源汽车股涨跌不一。\n其它中概股方面，普普文化涨近36%，优克联涨超8%，优客工场涨超6%，荔涨超3%，前程无忧涨超2%，贝壳涨近1%。\n新能源汽车股中，蔚来汽车、小鹏汽车跌超1%，理想汽车跌0.2%。\n3、欧洲两大股指28日上涨\n法国巴黎股市CAC40指数当天报收于7181.11点，比前一交易日上涨40.72点，涨幅为0.57%；德国法兰克福股市DAX指数报收于15963.70点，比前一交易日上涨128.45点，涨幅为0.81%。\n4、美国WTI原油周二收高0.5% 连续第五日上涨\n美国原油期货周二录得连续第五个交易日上涨，因市场预计新冠奥密克戎变异毒株对经济增长的影响有限。\n纽约商品交易所2月交割的西德克萨斯中质原油（WTI）期货价格上涨41美分，涨幅为0.5%，收于每桶75.98美元。周二盘中，该期货一度触及盘中高点76.92美元。\n5、黄金期货周二收高0.1%\n黄金期货周二收高，录得过去四个交易日中的第三次上涨。但美元走强使黄金期货价格受到抑制。\n纽约商品交易所2月交割的黄金期货价格上涨2.10美元，涨幅为0.1%，收于每盎司1810.90美元，盘中最高上涨至1821.60美元。周一黄金期货价格收跌0.2%。\n6、气价下跌+气温回暖，德国明年1月电力期货跌超3%\n由于在天然气价格持续下跌的同时，明年年初将回暖的天气或削减能源需求，德国明年1月电力期货价格跌3.3%，至每兆瓦时255欧元，而欧洲能源交易所（EEX）公布的明年基准合约价格下跌0.5%，至219.60欧元。\n气象公司Maxar预计，鉴于欧洲将出现气温回暖，因此能源需求仍相对疲弱。\n国际宏观\n1、纳指势将跑输标普500指数 为2016年来首次\n由于投资者回避科技股，纳斯达克综合指数有望自2016年以来首次跑输标普500指数。\n截至周一，以科技股为主的纳斯达克综合指数全年上涨23%，落后于标普500指数近28%的涨幅。标普500指数最近两次跑赢纳指发生在2016年和2011年。\n2、拜登重塑美联储再进一步：华尔街监管者和两名理事人选浮出水面\n据华尔街日报援引知情人士，拜登正在考虑让Sarah Bloom Raskin担任美联储负责监管的副主席，也即美国银行系统最有影响力的监管者。\nRaskin是律师出身，在奥巴马政府时期担任过美联储和财政部的要职，包括2010至2014年间担任美联储理事，2014至2017年间担任财政部副部长。\n3、以史为鉴：苹果市值突破万亿大关即暴跌 大盘指数也随之修正\n自新冠大流行爆发以来，苹果公司的股价就成了市场情绪一个重要的风向标。周一，苹果收涨2.30%，创2021年第24个收盘新高，总市值达到2.958万亿美元。\n要想达到3万亿美元的市值，苹果股价需要达到182.86美元。截至发稿，苹果股价报179.67美元，鉴于近期可能出现“圣诞老人行情”，苹果达到下一个万亿美元的门槛已经近在眼前。不过，以历史经验看来，这对大盘可能不是一件好事。\n4、拜登考虑让Raskin担任美联储最高银行业监管官员\n据报道，美国总统拜登正考虑让Sarah Bloom Raskin担任美联储负责银行业监管的副主席一职，作为政府最具影响力的美国银行业体系监管者。\nRaskin曾在奥巴马政府时期担任过美联储理事和美国财政部副部长。\n5、美国10月房价涨幅连续第三个月放缓 尽管放缓程度非常小\n美国10月份房价涨幅连续第三个月放缓。\n周二发布的指数显示，标普CoreLogic凯斯-席勒美国20城房价指数10月份上涨18.4%，涨幅低于9月份的19.1%。\n6、日本央行全年ETF购买规模料降至2012年以来最低\n根据媒体整理数据，截至12月27日，日本央行总计购买了8734亿日元（76亿美元）的交易所交易基金（ETF）。这只有去年为支持市场而购买的7.1万亿日元规模的一小部分，也将创出2012年以来的最低购买规模。\n7、语出惊人！拜登：联邦政府能力有限，抗疫还要“仰仗地方”\n本月27日，美国总统拜登在与各州州长的视频会议中“语出惊人”，表示联邦政府能力有限，抗疫事业还是要“仰仗地方”。\n这番“推卸责任”的表态引发了美国舆论的广泛质疑，因为这与其竞选之初的说辞完全背离。\n8、卷土重来？美共和党扬言明年夺回参众两院控制权，将再现“红潮”\n虽然距离2022年美国国会中期选举还有大约10个月时间，但共和党人十分自信，认为明年的选举将再现“红潮”，共和党将夺回对参众两院的控制权。\n9、100万桶/日！这一国家今年原油产量已翻一番\n委内瑞拉国家石油公司（PDVSA）在推特上宣布，其石油日产量已超过100万桶，为三年来首次，该国石油部长塔雷克·埃尔·艾萨米在圣诞节的一次讲话中称之为“伟大的胜利”。\n10、什么情况？交易员开始大规模买入美股看跌期权\n“当通货膨胀、创纪录的高资产价格和不断上升的利率三者重叠时，人们总想获得一些额外的保护。”\n越来越多的美股投资者开始买入看跌期权，为可能的下跌做准备。\n公司新闻\n1、竞争对手挖墙角太厉害 苹果以18万美元特别股票奖励慰留\n为了留住人才，苹果公司向一些工程师发放了高额特别股票奖励，以免他们跳槽去Facebook(346.22, 0.04, 0.01%)母公司Meta Platforms Inc．等竞争对手。\n知情人士称，苹果公司上周通知芯片设计、硬件以及部分软件和运营部门的一些工程师，将以限制性股票形式向他们发放特别奖金。这些股票分四年归属，以鼓励工程师留在这家iPhone制造商。\n2、PayPal欲通过合作伙伴关系和收购在日本扩张\nPayPal首席执行官Dan Schulman在接受媒体采访时表示，该公司将合作伙伴关系和收购视为扩大其在日本业务的关键，而不仅仅是专注于其PayPal品牌。\nPayPal在今年9月份朝这个方向迈出了一大步，当时该公司同意以27亿美元现金形式收购日本“先买后付”平台Paidy，以加强其在日本的业务。\n3、知名特斯拉多头维持1400美元目标价 强调增长关键仍是中国市场\n知名特斯拉多头、投行Wedbush认为，进入2022年后，特斯拉公司仍处于强势地位。\n理由是中国需求将推动业务增长，以及在美德两国的新工厂有望缓解供不应求的局面。\n分析师Daniel Ives在说明中写道，特斯拉的股票在未来12个月内可能上涨近30%。Ives预计明年汽车部件短缺将得到缓解，公司能够更好地满足中国日益增长的需求，而在得州奥斯汀和柏林的新工厂应能缓解全球生产瓶颈问题。\n4、印尼批准波音737 MAX复飞\n在印度尼西亚狮子航空公司一架波音737 MAX客机失事三年多后，印尼交通部于12月28日解除对这一机型的禁飞令。\n印尼交通部在一份声明中宣布，作为监管部门，交通部民航总局完成对波音737 MAX客机系统更改的评估后，决定解除禁飞令。\n5、日媒：丰田、马自达等日本车企2022年将为主要车型配备自动驾驶技术\n包括丰田汽车和马自达在内的日本车企，到2022年左右将为其主要车型配备自动驾驶技术。这些车企将安装Level 2和以上的功能，比如在公路上仍由司机来主要操作的自动驾驶。\n6、京东集团：股份回购授权由20亿美元增至30亿美元\n京东集团在港交所公告，董事会已批准修改于2020年3月采纳的现有股份回购计划，据此，回购授权由20亿美元增至30亿美元，并延长至2024年3月17日。","news_type":1},"isVote":1,"tweetType":1,"viewCount":869,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606541804,"gmtCreate":1638908755122,"gmtModify":1638908755122,"author":{"id":"4101621076406760","authorId":"4101621076406760","name":"cching88","avatar":"https://static.tigerbbs.com/3d951aa6bc97a74da74a1834287a54b7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"To the moon!","listText":"To the moon!","text":"To the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/606541804","repostId":"1162682713","repostType":4,"repost":{"id":"1162682713","pubTimestamp":1638887298,"share":"https://www.laohu8.com/m/news/1162682713?lang=&edition=full","pubTime":"2021-12-07 22:28","market":"us","language":"en","title":"Apple: A True 'Never Sell' Position","url":"https://stock-news.laohu8.com/highlight/detail?id=1162682713","media":"Seeking Alpha","summary":"Summary\n\nWith $315B in authorized share buybacks and a 0.6% yield, Apple should return 4.3% on share","content":"<p><b>Summary</b></p>\n<ul>\n <li>With $315B in authorized share buybacks and a 0.6% yield, Apple should return 4.3% on shareholder-friendly practices alone.</li>\n <li>In addition, the company will still see double-digit growth in wearables and services, even if iPhone slows down a little.</li>\n <li>The Apple ecosystem also stands to get more intertwined with a potential Apple Car and AR/VR plays.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/404c4a2883110ed556fd9700c5cffb83\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>CatLane/iStock Unreleased via Getty Images</span></p>\n<p>At an almost $3T market cap, I am still a holder of Apple (AAPL). While I absolutely wish I would have bought more of this powerhouse in years past, I've made do with incremental gains from dividend reinvestment.</p>\n<p>The news cycle would have you believe that this behemoth has head-winds galore, and that the downfall could come any day now. With limited risk and potential galore, is the company worth buying today?</p>\n<p><b>Limited Risk</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1fe4e9d4f4aca197052840240959df43\" tg-width=\"640\" tg-height=\"831\" width=\"100%\" height=\"auto\"><span>Image: Forbes magazine cover, 2007</span></p>\n<p>I am familiar with cellphone manufacturers of days past. Nokia, for example, used to be the titan of industry. It was thought to be untouchable and then came the iPhone. I mean, just look at the Forbes cover above, \"can anyone catch the cell phone king?\"</p>\n<p>That cover hit news stands on November 12, 2007, a few months after the iPhone had made its debut. The straw that broke Nokia's back, and the feature which gives Apple a moat wider than Apple Park today, The App Store launched in mid-2008.</p>\n<p>The App Store, as simple as it may seem, gave Apple the keys to the kingdom. Rather than be limited to the few apps that came on your Nokia device, you could use one of the thousands of apps sold by third-party developers on the iPhone. This was the beginning of a world-beating ecosystem.</p>\n<p>Today, Apple's ecosystem has grown in a significant way. The growth of that ecosystem means that Apple \"fanboys\" would have to spend thousands of dollars, or work through significant inconveniences to switch.</p>\n<p>Consider the user that has subscriptions to several apps, Air Pods, an Apple Watch, iPhone, iPad, and perhaps a MacBook. That person is not an outlier. If they consider switching to Android they'll have to cancel those several apps, throw their Apple Watch out, replace the AirPods, and would lose lots of great tie-in messaging functionality across the iPad and MacBook.</p>\n<p>First-world problems, absolutely. The tie-in, however, is real. Apple make world-class products that users love. They get caught up in all the added accessories which deliver a great experience and then they are customers for life.</p>\n<p>Apple stock, for all intents and purposes, is a better place to keep your money than cash because of this lack of risk. Should something start to topple this house of cards, it wouldn't happen overnight, and it certainly won't happen as rapidly as it happened to Nokia because of the switching costs Apple has built up.</p>\n<p><b>Enviable Metrics</b></p>\n<p>Despite running up against the law of large numbers, Apple continues to look stellar when considering a number of different metrics.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/08f0199dd5d3c8dade8af08d884a5459\" tg-width=\"640\" tg-height=\"300\" width=\"100%\" height=\"auto\"><span>Image: Apple's debt per 10-K (Page 45)</span></p>\n<p>The worst metric, in my opinion, Apple has is a 1.7 debt-to-equity ratio. However, on that figure, my mind may be stuck in a good days of positive interest rates. Much of Apple's $109B of debt is at a negligible (0.03-2%) interest rate. Higher end servicing costs sit a hair below 5%, but this makes up a minority of Apple's debt per the company's 10-K filings.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/547e6241dab1a7aef3e649fb0f10d5ff\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p>\n<p>All of that money did not go into internal projects, however, it went to share buybacks. Perhaps no company epitomizes share buybacks like Apple has over the last decade. The company has retired hundreds of billions of dollars' worth of stock to shareholders benefit, and it continues to do so today.</p>\n<p>These share buybacks are why Berkshire Hathaway (BRK.B) now owns 5.5% of Apple. Back when many lauded Buffett for being late to the Apple train, he has proven his conviction worthwhile and helped an already massive Berkshire portfolio continue to beat the market with this high concentration investment.</p>\n<p>Buffett aside, Apple does excel in several metrics one should be looking for when investing in high-quality stocks. Return on equity here sits at an eye-popping 140% due to a pandemic induced expansion in net income.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/af2a898072faa8c46eeaa734222ff059\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p>\n<p>Given the amount of debt, return on invested capital, likely, is the better metric to take a look at here. Apple's ROIC has been consistently over the 20% mark, which is a sign of a fantastic business.</p>\n<p>Oh, and it probably goes without mentioning, but this business is cash rich. Apple, as of its last report, has $35B in cash on hand and $155B in marketable securities (a mix of current and non-current). With $190B in capital that the company can still deploy, Apple is certainly in an enviable position.</p>\n<p><b>Valuation: Rich</b></p>\n<p>Those metrics are not unknown, but they are incredible. It's no surprise that Apple will likely cross $3T market cap in the next year or so, but is the company worth buying at these high levels?</p>\n<p>As mentioned above, I view Apple as an almost cash like position. In a world of inflation, Apple has the balance sheet to carry it through, it has significant pricing power, and it has exceptionally high margins on its products to be able to weather the storm. Would you rather your money lose 5% of its buying power per year, or grow in an American titan like Apple?</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/159a160cc869ef1cc00bd4eb8db7bd93\" tg-width=\"1280\" tg-height=\"720\" width=\"100%\" height=\"auto\"><span>Image: A mockup VR headset via BGR</span></p>\n<p>A valuation of Apple also has to include the potential for an Apple Car, or the AR/VR headsets that will be with us within the next 18-months. These types of projects have been kept well under wraps, but considering the valuations of EV manufacturers like Tesla (TSLA) and Rivian (RIVN), the market will reward Apple rather richly for a well-executed product.</p>\n<p>An Apple car with deep iOS integration,as is speculated, would further drive the ecosystem flywheel. In fact, it would take that flywheel to unimaginable levels. Imagine trying to leave an ecosystem where you have to replace a $50K (and I'm probably being cheap) car, a phone, a computer... it's quite the lock in.</p>\n<p>Taking AR/VR into account, one would have to consider that AR could be a cannibalizing force for the iPhone. If one can see all they need through lenses and control those lenses through gestures or the Apple Watch, Apple could cannibalize the phone market.</p>\n<p>That, however, is a good thing. Apple could price a novel item like AR glasses with higher margins than a phone. Fans and tech enthusiasts would pay that early adopter price and others would soon follow suit if the product lives up to the hype. It gets Apple out of the \"$1,000 for a phone\" line of thinking.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/88a008b34566e3309b095ad284807d12\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p>\n<p>All this to say, Apple's rich valuation today is a worthy one. At a PE of ~29, it's hardly extortionate, but it is outside of Apple's average over the last five years.</p>\n<p>The ecosystem, one that ties its customers in for life, is where the value lies here and Apple has plans to expand that with vehicles and wearables. Even at a PE of 29, I believe this to be a secure long-term investment that will pay investors a dividend, albeit small, along the way while continuing to retire billions of dollars in stock ($315B authorized ~10%).</p>\n<p><b>Addressing The Risks</b></p>\n<p>Fear and inflation. Fear is the largest and most significant risk that Apple faces. Buyers told that bad times are coming tend to zip up their pocketbooks. Buyers who have to spend 10% more on groceries suddenly don't have enough to buy the latest iPhone.</p>\n<p>These are external concerns that Apple has little control over. The company has, over the years, introduced buy-now-pay-later and subscription programs that help buyers get the goods they want at an affordable monthly price, and, as discussed, Apple has substantial margins that it could use to overcome significant headwinds in this space.</p>\n<p>Execution is another risk Apple faces, especially as we look to these \"futuristic\" products. A self-driving car could be worth trillions of dollars in lifetime revenues, or it could be a dud upon release that never gets full approval to operate on the streets. Likewise, an AR headset that no one wants to be seen wearing, or that proves difficult to wear through the day, could be a dead-on-arrival product.</p>\n<p>Given the nature of these two products and the secrecy surrounding their development, one cannot truly assign a real risk rating to them. They're just things to be aware of. Apple does have a history of great execution (MacBook keyboard and Touch Bar aside), however, so an investor should feel at least somewhat comfortable that the company will put its best foot forward.</p>\n<p><b>Final Thoughts</b></p>\n<p>At a valuation nearing $3T one would assume there isn't much room left to run in Apple, but investors still stand to beat the overall market in this name thanks to excellent capital allocation.</p>\n<p>Apple has $315B in authorized buybacks and returns some $14.5B in dividends each year. Apple will likely buyback close to $100B in stock during its 2022 fiscal year which, alone, represents a 3.7% return on today's prices. Combined with a dividend yield of 0.6%, investors will make 4.3% on this name through shareholder friendly practices alone.</p>\n<p>Those numbers will compound too, another $100B in 2023, $100B in 2024, it all adds up. That $300B is all authorized too.</p>\n<p>Along with those buybacks and dividends, investors are buying into a company that, last year, defied laws of large numbers and grew its top-line at 33%. While unlikely this year, I still expect that the wearables and services divisions will grow at double digits which will allow Apple to see high single-digit revenue growth through the coming 3-5 years.</p>\n<p>Those with a bearish view on Apple act as though this juggernaut will vanish overnight, but that's simply not true. Sure, you're unlikely to pull down 30%+ annual returns going forward, but if you're looking for a high-quality stable business that can beat the market little-by-little, Apple is a great horse (or car) to back.</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: A True 'Never Sell' Position</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: A True 'Never Sell' Position\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-07 22:28 GMT+8 <a href=https://seekingalpha.com/article/4473801-apple-a-true-never-sell-position><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nWith $315B in authorized share buybacks and a 0.6% yield, Apple should return 4.3% on shareholder-friendly practices alone.\nIn addition, the company will still see double-digit growth in ...</p>\n\n<a href=\"https://seekingalpha.com/article/4473801-apple-a-true-never-sell-position\">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/4473801-apple-a-true-never-sell-position","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162682713","content_text":"Summary\n\nWith $315B in authorized share buybacks and a 0.6% yield, Apple should return 4.3% on shareholder-friendly practices alone.\nIn addition, the company will still see double-digit growth in wearables and services, even if iPhone slows down a little.\nThe Apple ecosystem also stands to get more intertwined with a potential Apple Car and AR/VR plays.\n\nCatLane/iStock Unreleased via Getty Images\nAt an almost $3T market cap, I am still a holder of Apple (AAPL). While I absolutely wish I would have bought more of this powerhouse in years past, I've made do with incremental gains from dividend reinvestment.\nThe news cycle would have you believe that this behemoth has head-winds galore, and that the downfall could come any day now. With limited risk and potential galore, is the company worth buying today?\nLimited Risk\nImage: Forbes magazine cover, 2007\nI am familiar with cellphone manufacturers of days past. Nokia, for example, used to be the titan of industry. It was thought to be untouchable and then came the iPhone. I mean, just look at the Forbes cover above, \"can anyone catch the cell phone king?\"\nThat cover hit news stands on November 12, 2007, a few months after the iPhone had made its debut. The straw that broke Nokia's back, and the feature which gives Apple a moat wider than Apple Park today, The App Store launched in mid-2008.\nThe App Store, as simple as it may seem, gave Apple the keys to the kingdom. Rather than be limited to the few apps that came on your Nokia device, you could use one of the thousands of apps sold by third-party developers on the iPhone. This was the beginning of a world-beating ecosystem.\nToday, Apple's ecosystem has grown in a significant way. The growth of that ecosystem means that Apple \"fanboys\" would have to spend thousands of dollars, or work through significant inconveniences to switch.\nConsider the user that has subscriptions to several apps, Air Pods, an Apple Watch, iPhone, iPad, and perhaps a MacBook. That person is not an outlier. If they consider switching to Android they'll have to cancel those several apps, throw their Apple Watch out, replace the AirPods, and would lose lots of great tie-in messaging functionality across the iPad and MacBook.\nFirst-world problems, absolutely. The tie-in, however, is real. Apple make world-class products that users love. They get caught up in all the added accessories which deliver a great experience and then they are customers for life.\nApple stock, for all intents and purposes, is a better place to keep your money than cash because of this lack of risk. Should something start to topple this house of cards, it wouldn't happen overnight, and it certainly won't happen as rapidly as it happened to Nokia because of the switching costs Apple has built up.\nEnviable Metrics\nDespite running up against the law of large numbers, Apple continues to look stellar when considering a number of different metrics.\nImage: Apple's debt per 10-K (Page 45)\nThe worst metric, in my opinion, Apple has is a 1.7 debt-to-equity ratio. However, on that figure, my mind may be stuck in a good days of positive interest rates. Much of Apple's $109B of debt is at a negligible (0.03-2%) interest rate. Higher end servicing costs sit a hair below 5%, but this makes up a minority of Apple's debt per the company's 10-K filings.\nData by YCharts\nAll of that money did not go into internal projects, however, it went to share buybacks. Perhaps no company epitomizes share buybacks like Apple has over the last decade. The company has retired hundreds of billions of dollars' worth of stock to shareholders benefit, and it continues to do so today.\nThese share buybacks are why Berkshire Hathaway (BRK.B) now owns 5.5% of Apple. Back when many lauded Buffett for being late to the Apple train, he has proven his conviction worthwhile and helped an already massive Berkshire portfolio continue to beat the market with this high concentration investment.\nBuffett aside, Apple does excel in several metrics one should be looking for when investing in high-quality stocks. Return on equity here sits at an eye-popping 140% due to a pandemic induced expansion in net income.\nData by YCharts\nGiven the amount of debt, return on invested capital, likely, is the better metric to take a look at here. Apple's ROIC has been consistently over the 20% mark, which is a sign of a fantastic business.\nOh, and it probably goes without mentioning, but this business is cash rich. Apple, as of its last report, has $35B in cash on hand and $155B in marketable securities (a mix of current and non-current). With $190B in capital that the company can still deploy, Apple is certainly in an enviable position.\nValuation: Rich\nThose metrics are not unknown, but they are incredible. It's no surprise that Apple will likely cross $3T market cap in the next year or so, but is the company worth buying at these high levels?\nAs mentioned above, I view Apple as an almost cash like position. In a world of inflation, Apple has the balance sheet to carry it through, it has significant pricing power, and it has exceptionally high margins on its products to be able to weather the storm. Would you rather your money lose 5% of its buying power per year, or grow in an American titan like Apple?\nImage: A mockup VR headset via BGR\nA valuation of Apple also has to include the potential for an Apple Car, or the AR/VR headsets that will be with us within the next 18-months. These types of projects have been kept well under wraps, but considering the valuations of EV manufacturers like Tesla (TSLA) and Rivian (RIVN), the market will reward Apple rather richly for a well-executed product.\nAn Apple car with deep iOS integration,as is speculated, would further drive the ecosystem flywheel. In fact, it would take that flywheel to unimaginable levels. Imagine trying to leave an ecosystem where you have to replace a $50K (and I'm probably being cheap) car, a phone, a computer... it's quite the lock in.\nTaking AR/VR into account, one would have to consider that AR could be a cannibalizing force for the iPhone. If one can see all they need through lenses and control those lenses through gestures or the Apple Watch, Apple could cannibalize the phone market.\nThat, however, is a good thing. Apple could price a novel item like AR glasses with higher margins than a phone. Fans and tech enthusiasts would pay that early adopter price and others would soon follow suit if the product lives up to the hype. It gets Apple out of the \"$1,000 for a phone\" line of thinking.\nData by YCharts\nAll this to say, Apple's rich valuation today is a worthy one. At a PE of ~29, it's hardly extortionate, but it is outside of Apple's average over the last five years.\nThe ecosystem, one that ties its customers in for life, is where the value lies here and Apple has plans to expand that with vehicles and wearables. Even at a PE of 29, I believe this to be a secure long-term investment that will pay investors a dividend, albeit small, along the way while continuing to retire billions of dollars in stock ($315B authorized ~10%).\nAddressing The Risks\nFear and inflation. Fear is the largest and most significant risk that Apple faces. Buyers told that bad times are coming tend to zip up their pocketbooks. Buyers who have to spend 10% more on groceries suddenly don't have enough to buy the latest iPhone.\nThese are external concerns that Apple has little control over. The company has, over the years, introduced buy-now-pay-later and subscription programs that help buyers get the goods they want at an affordable monthly price, and, as discussed, Apple has substantial margins that it could use to overcome significant headwinds in this space.\nExecution is another risk Apple faces, especially as we look to these \"futuristic\" products. A self-driving car could be worth trillions of dollars in lifetime revenues, or it could be a dud upon release that never gets full approval to operate on the streets. Likewise, an AR headset that no one wants to be seen wearing, or that proves difficult to wear through the day, could be a dead-on-arrival product.\nGiven the nature of these two products and the secrecy surrounding their development, one cannot truly assign a real risk rating to them. They're just things to be aware of. Apple does have a history of great execution (MacBook keyboard and Touch Bar aside), however, so an investor should feel at least somewhat comfortable that the company will put its best foot forward.\nFinal Thoughts\nAt a valuation nearing $3T one would assume there isn't much room left to run in Apple, but investors still stand to beat the overall market in this name thanks to excellent capital allocation.\nApple has $315B in authorized buybacks and returns some $14.5B in dividends each year. Apple will likely buyback close to $100B in stock during its 2022 fiscal year which, alone, represents a 3.7% return on today's prices. Combined with a dividend yield of 0.6%, investors will make 4.3% on this name through shareholder friendly practices alone.\nThose numbers will compound too, another $100B in 2023, $100B in 2024, it all adds up. That $300B is all authorized too.\nAlong with those buybacks and dividends, investors are buying into a company that, last year, defied laws of large numbers and grew its top-line at 33%. While unlikely this year, I still expect that the wearables and services divisions will grow at double digits which will allow Apple to see high single-digit revenue growth through the coming 3-5 years.\nThose with a bearish view on Apple act as though this juggernaut will vanish overnight, but that's simply not true. Sure, you're unlikely to pull down 30%+ annual returns going forward, but if you're looking for a high-quality stable business that can beat the market little-by-little, Apple is a great horse (or car) to back.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}
