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2020-12-27

Interesting ventures

What Apple Would Want From the Auto Market?<blockquote>苹果希望从汽车市场得到什么？</blockquote>

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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":339436127,"tweetId":"339436127","gmtCreate":1609001822969,"gmtModify":1703737477084,"author":{"id":3571957013350377,"idStr":"3571957013350377","authorId":3571957013350377,"authorIdStr":"3571957013350377","name":"Ratman","avatar":"https://static.tigerbbs.com/8deb45bfcb9af1dff93123ad083df245","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":0,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","extraTitle":"","html":"<html><head></head><body>Interesting ventures</body></html>","htmlText":"<html><head></head><body>Interesting ventures</body></html>","text":"Interesting ventures","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/339436127","repostId":1124510560,"repostType":4,"repost":{"id":"1124510560","kind":"news","pubTimestamp":1608866332,"share":"https://www.laohunote.com/m/news/1124510560?lang=zh_CN&edition=full","pubTime":"2020-12-25 11:18","market":"us","language":"en","title":"What Apple Would Want From the Auto Market?<blockquote>苹果希望从汽车市场得到什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1124510560","media":"Barrons","summary":"Talk that Apple could launch an autonomous car as soon as 2024 had the market abuzz this past week.\n","content":"Talk that&nbsp;Apple&nbsp;could launch an autonomous car as soon as 2024 had the market abuzz this past week.<blockquote>上周，有关苹果最早可能在 2024 年推出自动驾驶汽车的传言引起了市场的热议。</blockquote> The iCar chatter started witha Reuters report, and investors responded by bidding up the market cap of Apple (ticker: AAPL) by about $145 billion from Monday’s low to Tuesday’s close. That’s more than the market values ofFord Motor(F),General Motors(GM), andFiat Chrysler(FCAU) combined. Imagine if Apple had actually announced something.<blockquote>路透社的报道引发了 iCar 的讨论，投资者的回应是将苹果（股票代码：AAPL）的市值从周一的低点到周二的收盘价上调了约 1,450 亿美元。这比福特汽车（F）、通用汽车（GM）和菲亚特克莱斯勒（FCAU）的市值总和还要高。想象一下，如果苹果真的宣布了什么。</blockquote> Stories about Apple’s ambitions in the automobile market have swirled for at least a decade. “Steve Jobs, if he’d lived, was going to design an iCar,” Mickey Drexler, a former Apple board member,said in a 2014 interviewat the Parsons School of Design in New York. Over the years, there have been reports that Apple has hired hundreds of engineers for what is supposedly known as Project Titan. The Reuters report says that Apple has new battery technology that will provide longer range and lower costs than existing batteries used byTesla(TSLA) and others. Apple isn’t saying anything—it never talks about unannounced products—but I doubt that we will see iCar dealerships anytime soon.<blockquote>关于苹果在汽车市场的野心的故事至少已经流传了十年。“苹果前董事会成员米基-德雷克斯勒（Mickey Drexler）在 2014 年接受纽约帕森斯设计学院采访时说：”如果乔布斯还活着，他一定会设计一辆 iCar。多年来，有报道称苹果已经为所谓的泰坦计划雇佣了数百名工程师。路透社报道称，苹果拥有新的电池技术，将比特斯拉（TSLA）和其他公司使用的现有电池提供更长的续航里程和更低的成本。苹果什么也没说--它从不谈论未公布的产品--但我怀疑我们很快就会看到 iCar 经销商。</blockquote> To be clear, the appeal of this idea is obvious. Apple’s sales are enormous—Wall Street expects $330 billion in the September 2022 fiscal year. To drive meaningful growth, it must aim at large markets. And as my colleague Al Root has calculated,the world’s 26 largest auto makers last year had sales of more than $2 trillion combined.<blockquote>需要明确的是，这个想法的吸引力是显而易见的。苹果的销售额巨大--华尔街预计 2022 年 9 月财年的销售额将达到 3300 亿美元。为了推动有意义的增长，它必须瞄准大市场。正如我的同事阿尔-鲁特（Al Root）所计算的那样，全球 26 家最大的汽车制造商去年的销售额总和超过 2 万亿美元。</blockquote> But I find the notion of Apple becoming a full-fledged car company far-fetched. Sure, Apple has long been nibbling around the edges of the auto market with its CarPlay service for in-cabin entertainment and maps. Yet Apple’s expertise is in design, engineering, logistics, and marketing. It doesn’t manufacture anything, relying on contractors to make phones, Macs, and other wares. As Citigroup analyst Jim Suva notes, making cars would compress Apple’s margins, making it an unlikely strategy.<blockquote>但我觉得苹果成为一家成熟的汽车公司的想法有些牵强。当然，苹果长期以来一直凭借其用于机舱内娱乐和地图的 CarPlay 服务在汽车市场的边缘徘徊。然而，苹果的专长在于设计、工程、物流和营销。它不生产任何东西，依靠承包商生产手机、苹果电脑和其他商品。正如花旗集团（Citigroup）分析师吉姆-苏瓦（Jim Suva）所指出的，制造汽车会压缩苹果的利润率，因此不太可能成为一项战略。</blockquote> At the same time, Apple is not just going to ignore a $2 trillion market. Morgan Stanley auto analyst Adam Jonas wrote last week that he and his tech analyst colleagues have long thought that Apple would one day design and engineer a car.<blockquote>与此同时，苹果也不会忽视一个2万亿美元的市场。摩根士丹利汽车分析师 Adam Jonas 上周写道，他和他的科技分析师同事长期以来一直认为苹果有一天会设计和制造一款汽车。</blockquote> “It’s not that we believe Apple wants to get into the auto industry as conceived by today’s auto companies, but that Apple may have an interest in enhancing the driving experience with vertical integration of hardware, software, and services,” he said in a research note.<blockquote>“他在一份研究报告中说：”这并不是说我们认为苹果想要进入当今汽车公司所设想的汽车行业，而是苹果可能有兴趣通过硬件、软件和服务的垂直整合来提升驾驶体验。</blockquote> Jonas thinks that the value of services in the “internet of cars”—multiply monthly active users (drivers) by average revenue per driver—could dwarf sales from simply selling cars. “The world’s 1.2 billion light vehicles travel in excess of 10 trillion miles per year, and humanity spends over 600 billion hours of time inside automobiles annually...the equivalent of 68 million years,” he said.<blockquote>乔纳斯认为，“汽车互联网 ”中的服务价值--每月活跃用户（司机）乘以每位司机的平均收入--可能会使单纯销售汽车的销售额相形见绌。“他说：”世界上有 12 亿辆轻型汽车每年行驶超过 10 万亿英里，人类每年在汽车内度过的时间超过 6000 亿小时......相当于 6800 万年。</blockquote> Now, imagine those were autonomous cars. That would free up a lot of consumer time to watch Apple TV+, listen to Apple Music, read Apple News, and play in Apple Arcade on iPhones, iPads, or MacBooks.<blockquote>现在，想象一下这些是自动驾驶汽车。这将释放大量消费者时间，让他们在iPhone、iPad或MacBook上观看苹果电视+、听苹果音乐、阅读苹果新闻和玩苹果街机游戏。</blockquote> Tesla CEO Elon Musk entered the iCar discussion on Tuesday.In a tweet, he said that during a difficult moment for his company, he reached out to Apple CEO Tim Cook to discuss selling Tesla to Apple for a 10th of the recent price (let’s call it $60 billion). Cook “refused to take the meeting,” Musk wrote.<blockquote>特斯拉首席执行官埃隆·马斯克周二加入了 iCar 讨论。他在一条推文中说，在公司陷入困境的时候，他联系了苹果首席执行官蒂姆-库克（Tim Cook），讨论以最近价格的十分之一（苹果为 600 亿美元）将特斯拉出售给看涨期权。马斯克写道，库克 “拒绝参加会议”。</blockquote> Whether an Apple/Tesla combination would have worked, we’ll never know.<blockquote>苹果和特斯拉的组合是否会奏效，我们永远不会知道。</blockquote> Let’s get small: The huge 2002 tech rally has stripped the landscape clean of obvious bargains. (Though I think I found one inYelp[YELP]; see“Yelp Stock Deserves a Positive Review. Expect a Reopening Rebound.”.) In search of cheap merchandise, I chatted recently with Jeffrey Meyers, proprietor of Cobia Capital, a New York–based hedge fund. His preference is for unloved and unknown tech companies with market caps under $3 billion that trade at modest multiples. Here are two examples.<blockquote>让我们从小处着手： 2002 年的科技股大涨已经把明显的便宜货一扫而空。（不过我想我在 Yelp[Yelp] 上找到了一个；请参阅“Yelp 股票值得好评。预计开盘反弹。”）为了寻找廉价商品，我最近与纽约对冲基金 Cobia Capital 的所有者杰弗里·迈耶斯 (Jeffrey Meyers) 聊了聊。他更喜欢市值低于 30 亿美元、市值适中的不受欢迎和不知名的科技公司。这里有两个例子。</blockquote> Meyers is keen onAirGain(AIRG), which makes antennae for fixed and mobile wireless applications. He’s especially jazzed about the prospects for a new AirGain antenna for first-responder vehicles that allows them greater range so radio signals can penetrate farther into buildings. AirGain is up about 40% this year, but he sees higher highs. Now trading for about $15, it could be a $75 stock a few years from now, he thinks.<blockquote>Meyers 热衷于 onAirGain (AIRG)，该公司生产用于固定和移动无线应用的天线。他尤其对为急救车辆安装新型 AirGain 天线的前景赞不绝口，这种天线将使急救车辆的射程更远，使无线电信号能够穿透更远的建筑物。AirGain 今年上涨了约 40%，但他认为高点会更高。他认为，现在交易价格约为 15 美元，几年后可能会成为 75 美元的股票。</blockquote> He is also enthusiastic aboutNordic Semiconductor(NOD.Norway), a Norwegian company that makes Bluetooth chips for things other than smartphones: headsets, keyboards, mice, and other applications. Meyers notes that the chips are found, for instance, in Tile tracking devices, which can be attached to almost anything that you wouldn’t want to lose—your dog, say, or your keys. Apple is rumored to be working on a similar product, which he thinks also could include Nordic’s chips.<blockquote>他还对北欧半导体（NOD.Norway）充满热情，这是一家挪威公司，生产智能手机以外的蓝牙芯片：耳机、键盘、鼠标和其他应用程序。迈耶斯指出，芯片可以在瓷砖跟踪设备中找到，这种设备几乎可以附着在任何你不想丢失的东西上--比如你的狗或你的钥匙。有传言称，苹果正在研发一款类似的产品，他认为其中也可能包括 Nordic 的芯片。</blockquote> Nordic shares aren’t as cheap as those of other Meyers picks, but the company is seeing accelerating growth—revenue was up 45%, year over year, in the September quarter and 34% sequentially—in a growing niche. Nordic, meanwhile, is gaining some early traction in chips used in cellular-based Internet of Things applications.<blockquote>Nordic 的股票价格不如 Meyers 的其他公司便宜，但该公司正在加速增长--9 月份季度的收入同比增长 45%，环比增长 34%--这是一个不断增长的利基市场。与此同时，Nordic 在基于蜂窝的物联网应用中使用的芯片方面正在获得一些早期牵引力。</blockquote> Wall Street is looking for…well, there aren’t any U.S. analysts. Just the kind of stock Meyers loves. Nordic could be acquisition bait for many potential buyers, he says, as the chip sector continues to consolidate.<blockquote>华尔街正在寻找.嗯，没有美国分析师。正是迈耶斯喜欢的那种股票。他表示，随着芯片行业的持续整合，Nordic 可能会成为许多潜在买家的收购诱饵。</blockquote>","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>What Apple Would Want From the Auto Market?<blockquote>苹果希望从汽车市场得到什么？</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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\">\nWhat Apple Would Want From the Auto Market?<blockquote>苹果希望从汽车市场得到什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2020-12-25 11:18\n\n</h4>\n</header>\n<article>\nTalk that&nbsp;Apple&nbsp;could launch an autonomous car as soon as 2024 had the market abuzz this past week.<blockquote>上周，有关苹果最早可能在 2024 年推出自动驾驶汽车的传言引起了市场的热议。</blockquote> The iCar chatter started witha Reuters report, and investors responded by bidding up the market cap of Apple (ticker: AAPL) by about $145 billion from Monday’s low to Tuesday’s close. That’s more than the market values ofFord Motor(F),General Motors(GM), andFiat Chrysler(FCAU) combined. Imagine if Apple had actually announced something.<blockquote>路透社的报道引发了 iCar 的讨论，投资者的回应是将苹果（股票代码：AAPL）的市值从周一的低点到周二的收盘价上调了约 1,450 亿美元。这比福特汽车（F）、通用汽车（GM）和菲亚特克莱斯勒（FCAU）的市值总和还要高。想象一下，如果苹果真的宣布了什么。</blockquote> Stories about Apple’s ambitions in the automobile market have swirled for at least a decade. “Steve Jobs, if he’d lived, was going to design an iCar,” Mickey Drexler, a former Apple board member,said in a 2014 interviewat the Parsons School of Design in New York. Over the years, there have been reports that Apple has hired hundreds of engineers for what is supposedly known as Project Titan. The Reuters report says that Apple has new battery technology that will provide longer range and lower costs than existing batteries used byTesla(TSLA) and others. Apple isn’t saying anything—it never talks about unannounced products—but I doubt that we will see iCar dealerships anytime soon.<blockquote>关于苹果在汽车市场的野心的故事至少已经流传了十年。“苹果前董事会成员米基-德雷克斯勒（Mickey Drexler）在 2014 年接受纽约帕森斯设计学院采访时说：”如果乔布斯还活着，他一定会设计一辆 iCar。多年来，有报道称苹果已经为所谓的泰坦计划雇佣了数百名工程师。路透社报道称，苹果拥有新的电池技术，将比特斯拉（TSLA）和其他公司使用的现有电池提供更长的续航里程和更低的成本。苹果什么也没说--它从不谈论未公布的产品--但我怀疑我们很快就会看到 iCar 经销商。</blockquote> To be clear, the appeal of this idea is obvious. Apple’s sales are enormous—Wall Street expects $330 billion in the September 2022 fiscal year. To drive meaningful growth, it must aim at large markets. And as my colleague Al Root has calculated,the world’s 26 largest auto makers last year had sales of more than $2 trillion combined.<blockquote>需要明确的是，这个想法的吸引力是显而易见的。苹果的销售额巨大--华尔街预计 2022 年 9 月财年的销售额将达到 3300 亿美元。为了推动有意义的增长，它必须瞄准大市场。正如我的同事阿尔-鲁特（Al Root）所计算的那样，全球 26 家最大的汽车制造商去年的销售额总和超过 2 万亿美元。</blockquote> But I find the notion of Apple becoming a full-fledged car company far-fetched. Sure, Apple has long been nibbling around the edges of the auto market with its CarPlay service for in-cabin entertainment and maps. Yet Apple’s expertise is in design, engineering, logistics, and marketing. It doesn’t manufacture anything, relying on contractors to make phones, Macs, and other wares. As Citigroup analyst Jim Suva notes, making cars would compress Apple’s margins, making it an unlikely strategy.<blockquote>但我觉得苹果成为一家成熟的汽车公司的想法有些牵强。当然，苹果长期以来一直凭借其用于机舱内娱乐和地图的 CarPlay 服务在汽车市场的边缘徘徊。然而，苹果的专长在于设计、工程、物流和营销。它不生产任何东西，依靠承包商生产手机、苹果电脑和其他商品。正如花旗集团（Citigroup）分析师吉姆-苏瓦（Jim Suva）所指出的，制造汽车会压缩苹果的利润率，因此不太可能成为一项战略。</blockquote> At the same time, Apple is not just going to ignore a $2 trillion market. Morgan Stanley auto analyst Adam Jonas wrote last week that he and his tech analyst colleagues have long thought that Apple would one day design and engineer a car.<blockquote>与此同时，苹果也不会忽视一个2万亿美元的市场。摩根士丹利汽车分析师 Adam Jonas 上周写道，他和他的科技分析师同事长期以来一直认为苹果有一天会设计和制造一款汽车。</blockquote> “It’s not that we believe Apple wants to get into the auto industry as conceived by today’s auto companies, but that Apple may have an interest in enhancing the driving experience with vertical integration of hardware, software, and services,” he said in a research note.<blockquote>“他在一份研究报告中说：”这并不是说我们认为苹果想要进入当今汽车公司所设想的汽车行业，而是苹果可能有兴趣通过硬件、软件和服务的垂直整合来提升驾驶体验。</blockquote> Jonas thinks that the value of services in the “internet of cars”—multiply monthly active users (drivers) by average revenue per driver—could dwarf sales from simply selling cars. “The world’s 1.2 billion light vehicles travel in excess of 10 trillion miles per year, and humanity spends over 600 billion hours of time inside automobiles annually...the equivalent of 68 million years,” he said.<blockquote>乔纳斯认为，“汽车互联网 ”中的服务价值--每月活跃用户（司机）乘以每位司机的平均收入--可能会使单纯销售汽车的销售额相形见绌。“他说：”世界上有 12 亿辆轻型汽车每年行驶超过 10 万亿英里，人类每年在汽车内度过的时间超过 6000 亿小时......相当于 6800 万年。</blockquote> Now, imagine those were autonomous cars. That would free up a lot of consumer time to watch Apple TV+, listen to Apple Music, read Apple News, and play in Apple Arcade on iPhones, iPads, or MacBooks.<blockquote>现在，想象一下这些是自动驾驶汽车。这将释放大量消费者时间，让他们在iPhone、iPad或MacBook上观看苹果电视+、听苹果音乐、阅读苹果新闻和玩苹果街机游戏。</blockquote> Tesla CEO Elon Musk entered the iCar discussion on Tuesday.In a tweet, he said that during a difficult moment for his company, he reached out to Apple CEO Tim Cook to discuss selling Tesla to Apple for a 10th of the recent price (let’s call it $60 billion). Cook “refused to take the meeting,” Musk wrote.<blockquote>特斯拉首席执行官埃隆·马斯克周二加入了 iCar 讨论。他在一条推文中说，在公司陷入困境的时候，他联系了苹果首席执行官蒂姆-库克（Tim Cook），讨论以最近价格的十分之一（苹果为 600 亿美元）将特斯拉出售给看涨期权。马斯克写道，库克 “拒绝参加会议”。</blockquote> Whether an Apple/Tesla combination would have worked, we’ll never know.<blockquote>苹果和特斯拉的组合是否会奏效，我们永远不会知道。</blockquote> Let’s get small: The huge 2002 tech rally has stripped the landscape clean of obvious bargains. (Though I think I found one inYelp[YELP]; see“Yelp Stock Deserves a Positive Review. Expect a Reopening Rebound.”.) In search of cheap merchandise, I chatted recently with Jeffrey Meyers, proprietor of Cobia Capital, a New York–based hedge fund. His preference is for unloved and unknown tech companies with market caps under $3 billion that trade at modest multiples. Here are two examples.<blockquote>让我们从小处着手： 2002 年的科技股大涨已经把明显的便宜货一扫而空。（不过我想我在 Yelp[Yelp] 上找到了一个；请参阅“Yelp 股票值得好评。预计开盘反弹。”）为了寻找廉价商品，我最近与纽约对冲基金 Cobia Capital 的所有者杰弗里·迈耶斯 (Jeffrey Meyers) 聊了聊。他更喜欢市值低于 30 亿美元、市值适中的不受欢迎和不知名的科技公司。这里有两个例子。</blockquote> Meyers is keen onAirGain(AIRG), which makes antennae for fixed and mobile wireless applications. He’s especially jazzed about the prospects for a new AirGain antenna for first-responder vehicles that allows them greater range so radio signals can penetrate farther into buildings. AirGain is up about 40% this year, but he sees higher highs. Now trading for about $15, it could be a $75 stock a few years from now, he thinks.<blockquote>Meyers 热衷于 onAirGain (AIRG)，该公司生产用于固定和移动无线应用的天线。他尤其对为急救车辆安装新型 AirGain 天线的前景赞不绝口，这种天线将使急救车辆的射程更远，使无线电信号能够穿透更远的建筑物。AirGain 今年上涨了约 40%，但他认为高点会更高。他认为，现在交易价格约为 15 美元，几年后可能会成为 75 美元的股票。</blockquote> He is also enthusiastic aboutNordic Semiconductor(NOD.Norway), a Norwegian company that makes Bluetooth chips for things other than smartphones: headsets, keyboards, mice, and other applications. Meyers notes that the chips are found, for instance, in Tile tracking devices, which can be attached to almost anything that you wouldn’t want to lose—your dog, say, or your keys. Apple is rumored to be working on a similar product, which he thinks also could include Nordic’s chips.<blockquote>他还对北欧半导体（NOD.Norway）充满热情，这是一家挪威公司，生产智能手机以外的蓝牙芯片：耳机、键盘、鼠标和其他应用程序。迈耶斯指出，芯片可以在瓷砖跟踪设备中找到，这种设备几乎可以附着在任何你不想丢失的东西上--比如你的狗或你的钥匙。有传言称，苹果正在研发一款类似的产品，他认为其中也可能包括 Nordic 的芯片。</blockquote> Nordic shares aren’t as cheap as those of other Meyers picks, but the company is seeing accelerating growth—revenue was up 45%, year over year, in the September quarter and 34% sequentially—in a growing niche. Nordic, meanwhile, is gaining some early traction in chips used in cellular-based Internet of Things applications.<blockquote>Nordic 的股票价格不如 Meyers 的其他公司便宜，但该公司正在加速增长--9 月份季度的收入同比增长 45%，环比增长 34%--这是一个不断增长的利基市场。与此同时，Nordic 在基于蜂窝的物联网应用中使用的芯片方面正在获得一些早期牵引力。</blockquote> Wall Street is looking for…well, there aren’t any U.S. analysts. Just the kind of stock Meyers loves. Nordic could be acquisition bait for many potential buyers, he says, as the chip sector continues to consolidate.<blockquote>华尔街正在寻找.嗯，没有美国分析师。正是迈耶斯喜欢的那种股票。他表示，随着芯片行业的持续整合，Nordic 可能会成为许多潜在买家的收购诱饵。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/what-apple-would-want-from-the-auto-market-its-not-about-making-cars-51608831016?mod=RTA\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/what-apple-would-want-from-the-auto-market-its-not-about-making-cars-51608831016?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124510560","content_text":"Talk that Apple could launch an autonomous car as soon as 2024 had the market abuzz this past week.\nThe iCar chatter started witha Reuters report, and investors responded by bidding up the market cap of Apple (ticker: AAPL) by about $145 billion from Monday’s low to Tuesday’s close. That’s more than the market values ofFord Motor(F),General Motors(GM), andFiat Chrysler(FCAU) combined. Imagine if Apple had actually announced something.\nStories about Apple’s ambitions in the automobile market have swirled for at least a decade. “Steve Jobs, if he’d lived, was going to design an iCar,” Mickey Drexler, a former Apple board member,said in a 2014 interviewat the Parsons School of Design in New York. Over the years, there have been reports that Apple has hired hundreds of engineers for what is supposedly known as Project Titan. The Reuters report says that Apple has new battery technology that will provide longer range and lower costs than existing batteries used byTesla(TSLA) and others. Apple isn’t saying anything—it never talks about unannounced products—but I doubt that we will see iCar dealerships anytime soon.\nTo be clear, the appeal of this idea is obvious. Apple’s sales are enormous—Wall Street expects $330 billion in the September 2022 fiscal year. To drive meaningful growth, it must aim at large markets. And as my colleague Al Root has calculated,the world’s 26 largest auto makers last year had sales of more than $2 trillion combined.\nBut I find the notion of Apple becoming a full-fledged car company far-fetched. Sure, Apple has long been nibbling around the edges of the auto market with its CarPlay service for in-cabin entertainment and maps. Yet Apple’s expertise is in design, engineering, logistics, and marketing. It doesn’t manufacture anything, relying on contractors to make phones, Macs, and other wares. As Citigroup analyst Jim Suva notes, making cars would compress Apple’s margins, making it an unlikely strategy.\nAt the same time, Apple is not just going to ignore a $2 trillion market. Morgan Stanley auto analyst Adam Jonas wrote last week that he and his tech analyst colleagues have long thought that Apple would one day design and engineer a car.\n“It’s not that we believe Apple wants to get into the auto industry as conceived by today’s auto companies, but that Apple may have an interest in enhancing the driving experience with vertical integration of hardware, software, and services,” he said in a research note.\nJonas thinks that the value of services in the “internet of cars”—multiply monthly active users (drivers) by average revenue per driver—could dwarf sales from simply selling cars. “The world’s 1.2 billion light vehicles travel in excess of 10 trillion miles per year, and humanity spends over 600 billion hours of time inside automobiles annually...the equivalent of 68 million years,” he said.\nNow, imagine those were autonomous cars. That would free up a lot of consumer time to watch Apple TV+, listen to Apple Music, read Apple News, and play in Apple Arcade on iPhones, iPads, or MacBooks.\nTesla CEO Elon Musk entered the iCar discussion on Tuesday.In a tweet, he said that during a difficult moment for his company, he reached out to Apple CEO Tim Cook to discuss selling Tesla to Apple for a 10th of the recent price (let’s call it $60 billion). Cook “refused to take the meeting,” Musk wrote.\nWhether an Apple/Tesla combination would have worked, we’ll never know.\nLet’s get small: The huge 2002 tech rally has stripped the landscape clean of obvious bargains. (Though I think I found one inYelp[YELP]; see“Yelp Stock Deserves a Positive Review. Expect a Reopening Rebound.”.) In search of cheap merchandise, I chatted recently with Jeffrey Meyers, proprietor of Cobia Capital, a New York–based hedge fund. His preference is for unloved and unknown tech companies with market caps under $3 billion that trade at modest multiples. Here are two examples.\nMeyers is keen onAirGain(AIRG), which makes antennae for fixed and mobile wireless applications. He’s especially jazzed about the prospects for a new AirGain antenna for first-responder vehicles that allows them greater range so radio signals can penetrate farther into buildings. AirGain is up about 40% this year, but he sees higher highs. Now trading for about $15, it could be a $75 stock a few years from now, he thinks.\nHe is also enthusiastic aboutNordic Semiconductor(NOD.Norway), a Norwegian company that makes Bluetooth chips for things other than smartphones: headsets, keyboards, mice, and other applications. Meyers notes that the chips are found, for instance, in Tile tracking devices, which can be attached to almost anything that you wouldn’t want to lose—your dog, say, or your keys. Apple is rumored to be working on a similar product, which he thinks also could include Nordic’s chips.\nNordic shares aren’t as cheap as those of other Meyers picks, but the company is seeing accelerating growth—revenue was up 45%, year over year, in the September quarter and 34% sequentially—in a growing niche. Nordic, meanwhile, is gaining some early traction in chips used in cellular-based Internet of Things applications.\nWall Street is looking for…well, there aren’t any U.S. analysts. Just the kind of stock Meyers loves. Nordic could be acquisition bait for many potential buyers, he says, as the chip sector continues to consolidate.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1490,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":19,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/339436127"}