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2021-09-27

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Apple Stock: The “Trick” That Can Push Share Price Higher<blockquote>苹果股票：推高股价的 “诀窍”</blockquote>

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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":866844020,"tweetId":"866844020","gmtCreate":1632756342060,"gmtModify":1632798044004,"author":{"id":3582948757581957,"idStr":"3582948757581957","authorId":3582948757581957,"authorIdStr":"3582948757581957","name":"GrowGrowGrow","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":18,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","extraTitle":"","html":"<html><head></head><body>Grow Grow Grow&nbsp;</body></html>","htmlText":"<html><head></head><body>Grow Grow Grow&nbsp;</body></html>","text":"Grow Grow Grow","highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/866844020","repostId":1143344359,"repostType":4,"repost":{"id":"1143344359","kind":"news","pubTimestamp":1632727246,"share":"https://www.laohunote.com/m/news/1143344359?lang=zh_CN&edition=full","pubTime":"2021-09-27 15:20","market":"us","language":"en","title":"Apple Stock: The “Trick” That Can Push Share Price Higher<blockquote>苹果股票： 推高股价的 “诀窍”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143344359","media":"TheStreet","summary":"Corporate America continues to aggressively buy their own shares, following a pullback in activity d","content":"Corporate America continues to aggressively buy their own shares, following a pullback in activity during the pandemic. This is how Apple stock investors should benefit.<blockquote>在疫情期间活动减少后，美国企业界继续积极购买自己的股票。这就是苹果股票投资者应该受益的方式。</blockquote> S&amp;P Dow Jones Indices has&nbsp;reported&nbsp;that US-based companies continue to invest heavily in… their own stock. Share buybacks in Q2 has risen nearly 12% sequentially and 124% YOY. This is a strong rebound from the post-COVID period of uncertainty that led to a temporary reduction in repurchase activity.<blockquote>标准普尔道琼斯指数报告称，美国公司继续大力投资……他们自己的股票。第二季度股票回购环比增长近 12%，同比增长 124%。这是从新冠疫情后的不确定性时期强劲反弹，导致回购活动暂时减少。</blockquote> This is a reminder for Apple stock&nbsp;investors that the Cupertino company’s share price can continue to benefit from stock buybacks. The Apple Maven recaps why this might be the case.<blockquote>这提醒苹果股票投资者，这家库比蒂诺公司的股价可以继续受益于股票回购。苹果专家概述了为什么会出现这种情况。</blockquote> <img src=\"https://static.tigerbbs.com/b3facec59ae76a6c28f4c5847600b4de\" tg-width=\"1240\" tg-height=\"886\" width=\"100%\" height=\"auto\">Figure 1: Apple store in New York, NY.<blockquote>图1：纽约州纽约市的苹果商店。</blockquote> Apple’s “secret sauce”<blockquote>苹果的“秘制酱”</blockquote> A bit over a year ago,I talked about one of Apple’s tricks&nbsp;to driving share price higher in the past decade. “Tenfold in ten years” was possible not merely because of robust business fundamentals. Sure, the popularity of the iPhone and success of iPad contributed greatly to compelling stock performance. But share repurchase was also an important piece of the puzzle.<blockquote>一年多前，我谈到了苹果在过去十年中推高股价的一个伎俩。“十年增长十倍”之所以成为可能，不仅仅是因为强劲的商业基本面。当然，iPhone 的流行和 iPad 的成功极大地促进了引人注目的股票表现。但股票回购也是难题的重要组成部分。</blockquote> Think about it: since 2011, Apple’s net income grew an impressive 190%. But at the same time, EPS (earnings per share) shot up by 325% over the same period. This “net income leverage” effect was only possible because share count was slashed by around 30% between 2013 and 2020. See chart below, which was published in June 2020 and not adjusted&nbsp;for the most recent stock split.<blockquote>想想看： 自 2011 年以来，苹果的净利润增长了 190%，令人印象深刻。但与此同时，每股收益（每股收益）同期飙升了325%。这种 “净利润杠杆 ”效应之所以成为可能，是因为 2013 年至 2020 年间，股票数量减少了约 30%。请参阅下图，该图表发布于 2020 年 6 月，未根据最近的股票分割进行调整。</blockquote> <img src=\"https://static.tigerbbs.com/10126c1a8a7f21648f44ba54c038c518\" tg-width=\"656\" tg-height=\"352\" width=\"100%\" height=\"auto\">Figure 2: Apple's net cash &amp; shares outstanding since 2011.<blockquote>图 2：自 2011 年以来苹果的净现金和流通股。</blockquote> In the S&amp;P’s most recent report, Apple was cited as the leader of the pack in stock buybacks by “not only spending the most of any [company], but its Q2 expenditure ranked second highest in S&amp;P history”. The Cupertino company seems highly committed to supporting its stock, which should be a bullish sign.<blockquote>在标准普尔的最新报告中，苹果被认为是股票回购的领导者，因为 “不仅花费了所有[公司]中最多的，而且其第二季度的支出在标准普尔历史上排名第二”。这家库比蒂诺公司似乎高度致力于支持其股票，这应该是一个看涨的迹象。</blockquote> Apple Maven’s take: quick math<blockquote>苹果专家的观点： 快速数学</blockquote> Continuing to retire shares is, in my view, a crucial tenet of the investment thesis on AAPL stock – and Apple’s management team seems to agree. Year-to-date, the Cupertino company has&nbsp;spent&nbsp;$66.2 billion on repurchases, 20% more than in fiscal 2020. The figure is massive, as it has represented nearly 90% of the free cash flow that Apple has produced in fiscal 2021 so far.<blockquote>在我看来，继续退出股票是苹果公司股票投资理论的一个重要原则--苹果的管理团队似乎也同意这一点。今年迄今为止，这家库比蒂诺公司已在回购上花费了 662 亿美元，比 2020 财年增加了 20%。这个数字是巨大的，因为它代表了苹果在2021财年迄今为止产生的自由现金流的近90%。</blockquote> At this pace, and assuming a share price of $150 apiece, Apple can retire around 600 million shares per year going forward, or just short of 4% of the total number of shares outstanding annually. Give it five years, and Apple’s share count could drop by almost 20%.<blockquote>按照这个速度，假设股价为每股 150 美元，苹果未来每年可以退役约 6 亿股股票，略低于每年流通股总数的 4%。再过五年，苹果的股价可能会下降近 20%。</blockquote> Think of the EPS calculation, which is net income divided by shares outstanding. Repurchases alone can boost Apple’s bottom line quite substantially. Assuming the stock’s P/E valuation does not change, it is fair to say, roughly, that AAPL stock can rise some 20% by 2026 due to buybacks alone.<blockquote>想想每股收益的计算，它是净利润除以流通股。仅回购一项就能大幅提高苹果的利润。假设股票的市盈率估值不变，那么粗略地说，到 2026 年，仅由于回购，苹果公司的股价就能上涨约 20%。</blockquote> For this reason and given the recent reports of a pickup in share repurchase activity across Corporate America, Apple investors have good reasons to be optimistic about share price performance.<blockquote>因此，鉴于最近有报道称美国企业界的股票回购活动有所增加，苹果投资者有充分的理由对股价表现持乐观态度。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Stock: The “Trick” That Can Push Share Price Higher<blockquote>苹果股票： 推高股价的 “诀窍”</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\">\nApple Stock: The “Trick” That Can Push Share Price Higher<blockquote>苹果股票： 推高股价的 “诀窍”</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nTheStreet2021-09-27 15:20\n\n</h4>\n</header>\n<article>\nCorporate America continues to aggressively buy their own shares, following a pullback in activity during the pandemic. This is how Apple stock investors should benefit.<blockquote>在疫情期间活动减少后，美国企业界继续积极购买自己的股票。这就是苹果股票投资者应该受益的方式。</blockquote> S&amp;P Dow Jones Indices has&nbsp;reported&nbsp;that US-based companies continue to invest heavily in… their own stock. Share buybacks in Q2 has risen nearly 12% sequentially and 124% YOY. This is a strong rebound from the post-COVID period of uncertainty that led to a temporary reduction in repurchase activity.<blockquote>标准普尔道琼斯指数报告称，美国公司继续大力投资……他们自己的股票。第二季度股票回购环比增长近 12%，同比增长 124%。这是从新冠疫情后的不确定性时期强劲反弹，导致回购活动暂时减少。</blockquote> This is a reminder for Apple stock&nbsp;investors that the Cupertino company’s share price can continue to benefit from stock buybacks. The Apple Maven recaps why this might be the case.<blockquote>这提醒苹果股票投资者，这家库比蒂诺公司的股价可以继续受益于股票回购。苹果专家概述了为什么会出现这种情况。</blockquote> <img src=\"https://static.tigerbbs.com/b3facec59ae76a6c28f4c5847600b4de\" tg-width=\"1240\" tg-height=\"886\" width=\"100%\" height=\"auto\">Figure 1: Apple store in New York, NY.<blockquote>图1：纽约州纽约市的苹果商店。</blockquote> Apple’s “secret sauce”<blockquote>苹果的“秘制酱”</blockquote> A bit over a year ago,I talked about one of Apple’s tricks&nbsp;to driving share price higher in the past decade. “Tenfold in ten years” was possible not merely because of robust business fundamentals. Sure, the popularity of the iPhone and success of iPad contributed greatly to compelling stock performance. But share repurchase was also an important piece of the puzzle.<blockquote>一年多前，我谈到了苹果在过去十年中推高股价的一个伎俩。“十年增长十倍”之所以成为可能，不仅仅是因为强劲的商业基本面。当然，iPhone 的流行和 iPad 的成功极大地促进了引人注目的股票表现。但股票回购也是难题的重要组成部分。</blockquote> Think about it: since 2011, Apple’s net income grew an impressive 190%. But at the same time, EPS (earnings per share) shot up by 325% over the same period. This “net income leverage” effect was only possible because share count was slashed by around 30% between 2013 and 2020. See chart below, which was published in June 2020 and not adjusted&nbsp;for the most recent stock split.<blockquote>想想看： 自 2011 年以来，苹果的净利润增长了 190%，令人印象深刻。但与此同时，每股收益（每股收益）同期飙升了325%。这种 “净利润杠杆 ”效应之所以成为可能，是因为 2013 年至 2020 年间，股票数量减少了约 30%。请参阅下图，该图表发布于 2020 年 6 月，未根据最近的股票分割进行调整。</blockquote> <img src=\"https://static.tigerbbs.com/10126c1a8a7f21648f44ba54c038c518\" tg-width=\"656\" tg-height=\"352\" width=\"100%\" height=\"auto\">Figure 2: Apple's net cash &amp; shares outstanding since 2011.<blockquote>图 2：自 2011 年以来苹果的净现金和流通股。</blockquote> In the S&amp;P’s most recent report, Apple was cited as the leader of the pack in stock buybacks by “not only spending the most of any [company], but its Q2 expenditure ranked second highest in S&amp;P history”. The Cupertino company seems highly committed to supporting its stock, which should be a bullish sign.<blockquote>在标准普尔的最新报告中，苹果被认为是股票回购的领导者，因为 “不仅花费了所有[公司]中最多的，而且其第二季度的支出在标准普尔历史上排名第二”。这家库比蒂诺公司似乎高度致力于支持其股票，这应该是一个看涨的迹象。</blockquote> Apple Maven’s take: quick math<blockquote>苹果专家的观点： 快速数学</blockquote> Continuing to retire shares is, in my view, a crucial tenet of the investment thesis on AAPL stock – and Apple’s management team seems to agree. Year-to-date, the Cupertino company has&nbsp;spent&nbsp;$66.2 billion on repurchases, 20% more than in fiscal 2020. The figure is massive, as it has represented nearly 90% of the free cash flow that Apple has produced in fiscal 2021 so far.<blockquote>在我看来，继续退出股票是苹果公司股票投资理论的一个重要原则--苹果的管理团队似乎也同意这一点。今年迄今为止，这家库比蒂诺公司已在回购上花费了 662 亿美元，比 2020 财年增加了 20%。这个数字是巨大的，因为它代表了苹果在2021财年迄今为止产生的自由现金流的近90%。</blockquote> At this pace, and assuming a share price of $150 apiece, Apple can retire around 600 million shares per year going forward, or just short of 4% of the total number of shares outstanding annually. Give it five years, and Apple’s share count could drop by almost 20%.<blockquote>按照这个速度，假设股价为每股 150 美元，苹果未来每年可以退役约 6 亿股股票，略低于每年流通股总数的 4%。再过五年，苹果的股价可能会下降近 20%。</blockquote> Think of the EPS calculation, which is net income divided by shares outstanding. Repurchases alone can boost Apple’s bottom line quite substantially. Assuming the stock’s P/E valuation does not change, it is fair to say, roughly, that AAPL stock can rise some 20% by 2026 due to buybacks alone.<blockquote>想想每股收益的计算，它是净利润除以流通股。仅回购一项就能大幅提高苹果的利润。假设股票的市盈率估值不变，那么粗略地说，到 2026 年，仅由于回购，苹果公司的股价就能上涨约 20%。</blockquote> For this reason and given the recent reports of a pickup in share repurchase activity across Corporate America, Apple investors have good reasons to be optimistic about share price performance.<blockquote>因此，鉴于最近有报道称美国企业界的股票回购活动有所增加，苹果投资者有充分的理由对股价表现持乐观态度。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.thestreet.com/apple/stock/apple-stock-the-trick-that-can-push-share-price-higher\">TheStreet</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.thestreet.com/apple/stock/apple-stock-the-trick-that-can-push-share-price-higher","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143344359","content_text":"Corporate America continues to aggressively buy their own shares, following a pullback in activity during the pandemic. This is how Apple stock investors should benefit.\nS&P Dow Jones Indices has reported that US-based companies continue to invest heavily in… their own stock. Share buybacks in Q2 has risen nearly 12% sequentially and 124% YOY. This is a strong rebound from the post-COVID period of uncertainty that led to a temporary reduction in repurchase activity.\nThis is a reminder for Apple stock investors that the Cupertino company’s share price can continue to benefit from stock buybacks. The Apple Maven recaps why this might be the case.\nFigure 1: Apple store in New York, NY.\nApple’s “secret sauce”\nA bit over a year ago,I talked about one of Apple’s tricks to driving share price higher in the past decade. “Tenfold in ten years” was possible not merely because of robust business fundamentals. Sure, the popularity of the iPhone and success of iPad contributed greatly to compelling stock performance. But share repurchase was also an important piece of the puzzle.\nThink about it: since 2011, Apple’s net income grew an impressive 190%. But at the same time, EPS (earnings per share) shot up by 325% over the same period. This “net income leverage” effect was only possible because share count was slashed by around 30% between 2013 and 2020. See chart below, which was published in June 2020 and not adjusted for the most recent stock split.\nFigure 2: Apple's net cash & shares outstanding since 2011.\nIn the S&P’s most recent report, Apple was cited as the leader of the pack in stock buybacks by “not only spending the most of any [company], but its Q2 expenditure ranked second highest in S&P history”. The Cupertino company seems highly committed to supporting its stock, which should be a bullish sign.\nApple Maven’s take: quick math\nContinuing to retire shares is, in my view, a crucial tenet of the investment thesis on AAPL stock – and Apple’s management team seems to agree. Year-to-date, the Cupertino company has spent $66.2 billion on repurchases, 20% more than in fiscal 2020. The figure is massive, as it has represented nearly 90% of the free cash flow that Apple has produced in fiscal 2021 so far.\nAt this pace, and assuming a share price of $150 apiece, Apple can retire around 600 million shares per year going forward, or just short of 4% of the total number of shares outstanding annually. Give it five years, and Apple’s share count could drop by almost 20%.\nThink of the EPS calculation, which is net income divided by shares outstanding. Repurchases alone can boost Apple’s bottom line quite substantially. Assuming the stock’s P/E valuation does not change, it is fair to say, roughly, that AAPL stock can rise some 20% by 2026 due to buybacks alone.\nFor this reason and given the recent reports of a pickup in share repurchase activity across Corporate America, Apple investors have good reasons to be optimistic about share price performance.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":897,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":12,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/866844020"}