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2021-11-16

Time to buy or sell?

Sell AAPL? Why This Expert Sees Apple Stock Dipping 12%<blockquote>出售苹果公司？为什么这位专家认为苹果股价下跌12%</blockquote>

2021-11-04

Go go go!

S&P 500 rises for a sixth straight day, Dow hovers near a record<blockquote>标普500连续第六天上涨道指徘徊在纪录附近</blockquote>

2021-11-04

Thank you!

Warren Buffett says this is the best type of business to own when inflation spikes — in other words, what you should buy right now<blockquote>沃伦·巴菲特表示，这是通胀飙升时拥有的最佳企业类型——换句话说，你现在应该购买什么</blockquote>

2021-11-02

Ok time to buy?

Warren Buffett says this is the best type of business to own when inflation spikes — in other words, what you should buy right now<blockquote>沃伦·巴菲特表示，这是通胀飙升时拥有的最佳企业类型——换句话说，你现在应该购买什么</blockquote>

2021-10-24

Price to increase?

Intel: Good Value Or Value Trap?<blockquote>英特尔：良好的价值还是价值陷阱？</blockquote>

2021-10-14

Time to buy Inovio?

抱歉，原内容已删除

2021-10-04

Time to buy or wait?

Top Wall Street analysts picks these 5 stocks for the fourth quarter<blockquote>华尔街顶级分析师第四季度精选这5只股票</blockquote>

2021-09-29

Phone to be made cheaper?

抱歉，原内容已删除

2021-09-27

Accurate?

抱歉，原内容已删除

2021-09-26

Time to buy?

Intel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始建设亚利桑那州两家计算机芯片工厂</blockquote>

2021-09-24

Go go go!

EngageSmart opens for trading at $37, up about 43.6% from IPO price<blockquote>EngageSmart开盘价为37美元，较IPO价格上涨约43.6%</blockquote>

2021-09-22

Go go go!

抱歉，原内容已删除

2021-09-19

Yeah WFH is great!

抱歉，原内容已删除

2021-09-18

Prices to go up?

抱歉，原内容已删除

2021-09-16

Should we buy or wait???

抱歉，原内容已删除

2021-09-13

Time to buy?

Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>

2021-09-12

Good Luck

抱歉，原内容已删除

2021-09-10

Time to buy?

抱歉，原内容已删除

2021-09-07

Buy?

抱歉，原内容已删除

2021-09-05

Oh

抱歉，原内容已删除

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to buy or sell?","listText":"Time to buy or sell?","text":"Time to buy or sell?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/871124836","repostId":"1116429379","repostType":4,"repost":{"id":"1116429379","kind":"news","pubTimestamp":1637033648,"share":"https://www.laohu8.com/m/news/1116429379?lang=zh_CN&edition=full","pubTime":"2021-11-16 11:34","market":"us","language":"en","title":"Sell AAPL? Why This Expert Sees Apple Stock Dipping 12%<blockquote>出售苹果公司？为什么这位专家认为苹果股价下跌12%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1116429379","media":"Thestreet","summary":"As Apple stock(AAPL) continues to hover around $150 apiece, one of the few skeptics on Wall Street h","content":"<p>As Apple stock(<b>AAPL</b>)&nbsp;continues to hover around $150 apiece, one of the few skeptics on Wall Street has just published his most updated report. In it, he reinforced the idea that AAPL should be worth only $132, suggesting that shares have 12% of downside risk from here.</p><p><blockquote>作为苹果股票(<b>AAPL</b>）继续徘徊在150美元左右，华尔街为数不多的怀疑论者之一刚刚发布了他的最新报告。在其中，他强化了AAPL的价值应该仅为132美元的观点，表明其股价从现在开始有12%的下行风险。</blockquote></p><p> Today, the Apple Maven revisits Bernstein’s Toni Sacconaghi’s mildly bearish case.</p><p><blockquote>今天，这位苹果专家重温了Bernstein的托尼·萨科纳吉(Toni Sacconaghi)温和悲观的观点。</blockquote></p><p> The not-so-bullish case</p><p><blockquote>不那么乐观的情况</blockquote></p><p> Mr. Sacconaghi has been cautious of AAPL since he&nbsp;downgraded&nbsp;the stock to neutral, in February 2018. The timing of his move did not prove to be the best, as Apple shares have climbed a whopping 285% in less than four years against the S&amp;P 500’s 85% gains. However, the analyst has also helped AAPL investors think of the devil’s advocate argument.</p><p><blockquote>自2018年2月将AAPL股票评级下调至中性以来，萨科纳吉先生一直对该股持谨慎态度。事实证明，他此举的时机并不是最好的，因为苹果股价在不到四年的时间里上涨了285%，而标普500的涨幅为85%。然而，这位分析师也帮助苹果公司投资者思考了魔鬼代言人的论点。</blockquote></p><p> In August, I&nbsp;reviewed Bernstein’s thesis&nbsp;in more detail. For the short term, the bank’s research team was concerned that Apple stock had climbed too fast in the first half of the year, ahead of a set of earnings seasons in which Apple would face tough comps.</p><p><blockquote>8月，我更详细地回顾了伯恩斯坦的论文。短期而言，该银行的研究团队担心苹果股价在今年上半年上涨过快，而苹果将在一系列财报季中面临严峻的竞争。</blockquote></p><p> Also, Toni has mentioned valuations as a key risk. While he believes that AAPL should be valued at a higher multiple than the S&amp;P 500, the analyst questions how much is too much. Bernstein’s target P/E of 25 times is one to two turns lower than where the multiple is today.</p><p><blockquote>此外，托尼提到估值是一个关键风险。虽然他认为苹果公司的估值应该高于标普500，但分析师质疑多少才算过高。伯恩斯坦的目标市盈率为25倍，比目前的市盈率低一到两倍。</blockquote></p><p> Add App Store to the list</p><p><blockquote>将App Store添加到列表</blockquote></p><p> Now, the analyst has&nbsp;added&nbsp;one item to the list of worries: the App Store. Sacconaghi pointed out that a recent court loss will likely mean that payments will be allowed to be made outside the App Store platform in the US, starting as early as next month.</p><p><blockquote>现在，这位分析师在担忧清单上增加了一项：应用商店。萨科纳吉指出，最近的法庭败诉可能意味着最早从下个月开始，美国将允许在App Store平台之外进行支付。</blockquote></p><p> Bernstein’s expert has done the math. He estimates that nearly one-third of App Store revenues come from the United States. If the App Store accounts for 6% and 15% of total company sales and op profits, respectively, the payment issue could impact 2% of Apple’s revenues and 5% of op profits per year.</p><p><blockquote>伯恩斯坦的专家已经计算过了。他估计，App Store近三分之一的收入来自美国。如果App Store分别占公司总销售额和op利润的6%和15%，那么支付问题可能会影响苹果每年2%的收入和5%的op利润。</blockquote></p><p> Apple Maven’s take</p><p><blockquote>苹果·梅文的看法</blockquote></p><p> Regarding Toni’s earlier concerns, I believe that the risks have decreased substantially since AAPL peaked, in early September. Since then, investors have had time to fully embrace the more challenging late 2021-to-early 2022 period of tough comps and supply chain constraints.As I mentioned not long ago, valuations have de-risked to more reasonable levels.</p><p><blockquote>关于托尼之前的担忧，我认为自AAPL于9月初见顶以来，风险已大幅降低。从那时起，投资者有时间充分迎接2021年底至2022年初更具挑战性的艰难竞争和供应链限制时期。正如我不久前提到的，估值已经降低到更合理的水平。</blockquote></p><p> Regarding the App Store, I have slowly&nbsp;shifted from more to less concerned&nbsp;about the financial impact. Morgan Stanley’s Katy Huberty has argued that App Store policy changes could shave a maximum of 1% or 2% of Apple’s EPS, which is not much at all.</p><p><blockquote>关于App Store，我已经慢慢地从更关心财务影响转向不太关心。Morgan Stanley的Katy Huberty认为，应用商店政策的变化最多可能会使苹果的每股收益减少1%或2%，这并不多。</blockquote></p><p> Even Sacconaghi’s estimates of the financial risk only represents the worst-case scenario. In reality, much less than 2% of Apple’s revenues and 5% of op profits will likely end up being cut as a result of the App Store’s payment changes, as many users will continue to choose Apple as their payment platform of choice.</p><p><blockquote>即使是萨科纳吉对金融风险的估计也只代表了最坏的情况。事实上，由于App Store的支付变化，苹果收入的2%和运营利润的5%可能最终会被削减，因为许多用户将继续选择苹果作为他们的首选支付平台。</blockquote></p><p></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>Sell AAPL? Why This Expert Sees Apple Stock Dipping 12%<blockquote>出售苹果公司？为什么这位专家认为苹果股价下跌12%</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\">\nSell AAPL? Why This Expert Sees Apple Stock Dipping 12%<blockquote>出售苹果公司？为什么这位专家认为苹果股价下跌12%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-11-16 11:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As Apple stock(<b>AAPL</b>)&nbsp;continues to hover around $150 apiece, one of the few skeptics on Wall Street has just published his most updated report. In it, he reinforced the idea that AAPL should be worth only $132, suggesting that shares have 12% of downside risk from here.</p><p><blockquote>作为苹果股票(<b>AAPL</b>）继续徘徊在150美元左右，华尔街为数不多的怀疑论者之一刚刚发布了他的最新报告。在其中，他强化了AAPL的价值应该仅为132美元的观点，表明其股价从现在开始有12%的下行风险。</blockquote></p><p> Today, the Apple Maven revisits Bernstein’s Toni Sacconaghi’s mildly bearish case.</p><p><blockquote>今天，这位苹果专家重温了Bernstein的托尼·萨科纳吉(Toni Sacconaghi)温和悲观的观点。</blockquote></p><p> The not-so-bullish case</p><p><blockquote>不那么乐观的情况</blockquote></p><p> Mr. Sacconaghi has been cautious of AAPL since he&nbsp;downgraded&nbsp;the stock to neutral, in February 2018. The timing of his move did not prove to be the best, as Apple shares have climbed a whopping 285% in less than four years against the S&amp;P 500’s 85% gains. However, the analyst has also helped AAPL investors think of the devil’s advocate argument.</p><p><blockquote>自2018年2月将AAPL股票评级下调至中性以来，萨科纳吉先生一直对该股持谨慎态度。事实证明，他此举的时机并不是最好的，因为苹果股价在不到四年的时间里上涨了285%，而标普500的涨幅为85%。然而，这位分析师也帮助苹果公司投资者思考了魔鬼代言人的论点。</blockquote></p><p> In August, I&nbsp;reviewed Bernstein’s thesis&nbsp;in more detail. For the short term, the bank’s research team was concerned that Apple stock had climbed too fast in the first half of the year, ahead of a set of earnings seasons in which Apple would face tough comps.</p><p><blockquote>8月，我更详细地回顾了伯恩斯坦的论文。短期而言，该银行的研究团队担心苹果股价在今年上半年上涨过快，而苹果将在一系列财报季中面临严峻的竞争。</blockquote></p><p> Also, Toni has mentioned valuations as a key risk. While he believes that AAPL should be valued at a higher multiple than the S&amp;P 500, the analyst questions how much is too much. Bernstein’s target P/E of 25 times is one to two turns lower than where the multiple is today.</p><p><blockquote>此外，托尼提到估值是一个关键风险。虽然他认为苹果公司的估值应该高于标普500，但分析师质疑多少才算过高。伯恩斯坦的目标市盈率为25倍，比目前的市盈率低一到两倍。</blockquote></p><p> Add App Store to the list</p><p><blockquote>将App Store添加到列表</blockquote></p><p> Now, the analyst has&nbsp;added&nbsp;one item to the list of worries: the App Store. Sacconaghi pointed out that a recent court loss will likely mean that payments will be allowed to be made outside the App Store platform in the US, starting as early as next month.</p><p><blockquote>现在，这位分析师在担忧清单上增加了一项：应用商店。萨科纳吉指出，最近的法庭败诉可能意味着最早从下个月开始，美国将允许在App Store平台之外进行支付。</blockquote></p><p> Bernstein’s expert has done the math. He estimates that nearly one-third of App Store revenues come from the United States. If the App Store accounts for 6% and 15% of total company sales and op profits, respectively, the payment issue could impact 2% of Apple’s revenues and 5% of op profits per year.</p><p><blockquote>伯恩斯坦的专家已经计算过了。他估计，App Store近三分之一的收入来自美国。如果App Store分别占公司总销售额和op利润的6%和15%，那么支付问题可能会影响苹果每年2%的收入和5%的op利润。</blockquote></p><p> Apple Maven’s take</p><p><blockquote>苹果·梅文的看法</blockquote></p><p> Regarding Toni’s earlier concerns, I believe that the risks have decreased substantially since AAPL peaked, in early September. Since then, investors have had time to fully embrace the more challenging late 2021-to-early 2022 period of tough comps and supply chain constraints.As I mentioned not long ago, valuations have de-risked to more reasonable levels.</p><p><blockquote>关于托尼之前的担忧，我认为自AAPL于9月初见顶以来，风险已大幅降低。从那时起，投资者有时间充分迎接2021年底至2022年初更具挑战性的艰难竞争和供应链限制时期。正如我不久前提到的，估值已经降低到更合理的水平。</blockquote></p><p> Regarding the App Store, I have slowly&nbsp;shifted from more to less concerned&nbsp;about the financial impact. Morgan Stanley’s Katy Huberty has argued that App Store policy changes could shave a maximum of 1% or 2% of Apple’s EPS, which is not much at all.</p><p><blockquote>关于App Store，我已经慢慢地从更关心财务影响转向不太关心。Morgan Stanley的Katy Huberty认为，应用商店政策的变化最多可能会使苹果的每股收益减少1%或2%，这并不多。</blockquote></p><p> Even Sacconaghi’s estimates of the financial risk only represents the worst-case scenario. In reality, much less than 2% of Apple’s revenues and 5% of op profits will likely end up being cut as a result of the App Store’s payment changes, as many users will continue to choose Apple as their payment platform of choice.</p><p><blockquote>即使是萨科纳吉对金融风险的估计也只代表了最坏的情况。事实上，由于App Store的支付变化，苹果收入的2%和运营利润的5%可能最终会被削减，因为许多用户将继续选择苹果作为他们的首选支付平台。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/stock/sell-aapl-why-this-expert-sees-apple-stock-dipping-12\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\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/sell-aapl-why-this-expert-sees-apple-stock-dipping-12","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116429379","content_text":"As Apple stock(AAPL) continues to hover around $150 apiece, one of the few skeptics on Wall Street has just published his most updated report. In it, he reinforced the idea that AAPL should be worth only $132, suggesting that shares have 12% of downside risk from here.\nToday, the Apple Maven revisits Bernstein’s Toni Sacconaghi’s mildly bearish case.\nThe not-so-bullish case\nMr. Sacconaghi has been cautious of AAPL since he downgraded the stock to neutral, in February 2018. The timing of his move did not prove to be the best, as Apple shares have climbed a whopping 285% in less than four years against the S&P 500’s 85% gains. However, the analyst has also helped AAPL investors think of the devil’s advocate argument.\nIn August, I reviewed Bernstein’s thesis in more detail. For the short term, the bank’s research team was concerned that Apple stock had climbed too fast in the first half of the year, ahead of a set of earnings seasons in which Apple would face tough comps.\nAlso, Toni has mentioned valuations as a key risk. While he believes that AAPL should be valued at a higher multiple than the S&P 500, the analyst questions how much is too much. Bernstein’s target P/E of 25 times is one to two turns lower than where the multiple is today.\nAdd App Store to the list\nNow, the analyst has added one item to the list of worries: the App Store. Sacconaghi pointed out that a recent court loss will likely mean that payments will be allowed to be made outside the App Store platform in the US, starting as early as next month.\nBernstein’s expert has done the math. He estimates that nearly one-third of App Store revenues come from the United States. If the App Store accounts for 6% and 15% of total company sales and op profits, respectively, the payment issue could impact 2% of Apple’s revenues and 5% of op profits per year.\nApple Maven’s take\nRegarding Toni’s earlier concerns, I believe that the risks have decreased substantially since AAPL peaked, in early September. Since then, investors have had time to fully embrace the more challenging late 2021-to-early 2022 period of tough comps and supply chain constraints.As I mentioned not long ago, valuations have de-risked to more reasonable levels.\nRegarding the App Store, I have slowly shifted from more to less concerned about the financial impact. Morgan Stanley’s Katy Huberty has argued that App Store policy changes could shave a maximum of 1% or 2% of Apple’s EPS, which is not much at all.\nEven Sacconaghi’s estimates of the financial risk only represents the worst-case scenario. In reality, much less than 2% of Apple’s revenues and 5% of op profits will likely end up being cut as a result of the App Store’s payment changes, as many users will continue to choose Apple as their payment platform of choice.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2653,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848779135,"gmtCreate":1636033215509,"gmtModify":1636033248477,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Go go go!","listText":"Go go go!","text":"Go go go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/848779135","repostId":"1103660582","repostType":4,"repost":{"id":"1103660582","kind":"news","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":1636032692,"share":"https://www.laohu8.com/m/news/1103660582?lang=zh_CN&edition=full","pubTime":"2021-11-04 21:31","market":"us","language":"en","title":"S&P 500 rises for a sixth straight day, Dow hovers near a record<blockquote>标普500连续第六天上涨道指徘徊在纪录附近</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103660582","media":"Tiger Newspress","summary":"The S&P 500 rose for a sixth day in a row on Thursday after the equity benchmark closed at a record ","content":"<p>The S&amp;P 500 rose for a sixth day in a row on Thursday after the equity benchmark closed at a record following commentary from the Federal Reserve in the prior session.</p><p><blockquote>在美联储前一交易日发表评论后，股市基准收于创纪录水平，周四标普500连续第六天上涨。</blockquote></p><p> The S&amp;P 500 gained 0.2%, while the Dow Jones Industrial Average was trading near the flatline. The tech-heavy Nasdaq Composite rose 0.2%. All three averages finished the prior session at record highs.</p><p><blockquote>标普500上涨0.2%，道琼斯工业平均指数接近持平线。以科技股为主的纳斯达克综合指数上涨0.2%。前一交易日收盘时，这三条平均线均创下历史新高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2a14d5a66f1a4044fe93913c89576ad8\" tg-width=\"1073\" tg-height=\"456\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Tesla shares rose more than 1% to a new high.</p><p><blockquote>特斯拉股价涨超1%，再创新高。</blockquote></p><p> Qualcomm led gainers on the S&amp;P 500, rallying 15% following&nbsp;an earnings beat&nbsp;propelled by a 56% surge in smartphone chip sales. The company also provide strong guidance for the fourth quarter.</p><p><blockquote>高通在标普500领涨，在智能手机芯片销量飙升56%的推动下，其盈利超出预期，股价上涨15%。该公司还为第四季度提供了强有力的指导。</blockquote></p><p> MGM shares gained nearly 5% after the casino operator announcing plans to sell the operations of its Mirage casino in Las Vegas to another operator. The company noted that no sales agreement had been reached and it did not mention any possible buyers.</p><p><blockquote>赌场运营商米高梅宣布计划将其位于拉斯维加斯的Mirage赌场的业务出售给另一家运营商后，该公司股价上涨近5%。该公司指出，尚未达成销售协议，也没有提及任何可能的买家。</blockquote></p><p> Fastly's stock rose 8%&nbsp;as&nbsp;its third quarter performance exceeded market expectations, and some lost users were observed to return.</p><p><blockquote>Fastly股价上涨8%，因其第三季度业绩超出市场预期，且观察到部分流失用户回归。</blockquote></p><p> Yet Moderna shares cratered after the drugmaker&nbsp;slashed its Covid-19 vaccine revenue outlook. The sotck was last down about 11%.</p><p><blockquote>然而，在制药商Moderna大幅下调其Covid-19疫苗收入预期后，该公司股价暴跌。sotck最近下跌了约11%。</blockquote></p><p> And Roku was under pressure, falling more than 7% after the streaming platform&nbsp;reported disappointing third-quarter revenue.</p><p><blockquote>Roku也面临压力，在该流媒体平台公布令人失望的第三季度收入后，股价下跌超过7%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 rises for a sixth straight day, Dow hovers near a record<blockquote>标普500连续第六天上涨道指徘徊在纪录附近</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\">\nS&P 500 rises for a sixth straight day, Dow hovers near a record<blockquote>标普500连续第六天上涨道指徘徊在纪录附近</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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 smaller\">2021-11-04 21:31</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The S&amp;P 500 rose for a sixth day in a row on Thursday after the equity benchmark closed at a record following commentary from the Federal Reserve in the prior session.</p><p><blockquote>在美联储前一交易日发表评论后，股市基准收于创纪录水平，周四标普500连续第六天上涨。</blockquote></p><p> The S&amp;P 500 gained 0.2%, while the Dow Jones Industrial Average was trading near the flatline. The tech-heavy Nasdaq Composite rose 0.2%. All three averages finished the prior session at record highs.</p><p><blockquote>标普500上涨0.2%，道琼斯工业平均指数接近持平线。以科技股为主的纳斯达克综合指数上涨0.2%。前一交易日收盘时，这三条平均线均创下历史新高。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2a14d5a66f1a4044fe93913c89576ad8\" tg-width=\"1073\" tg-height=\"456\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Tesla shares rose more than 1% to a new high.</p><p><blockquote>特斯拉股价涨超1%，再创新高。</blockquote></p><p> Qualcomm led gainers on the S&amp;P 500, rallying 15% following&nbsp;an earnings beat&nbsp;propelled by a 56% surge in smartphone chip sales. The company also provide strong guidance for the fourth quarter.</p><p><blockquote>高通在标普500领涨，在智能手机芯片销量飙升56%的推动下，其盈利超出预期，股价上涨15%。该公司还为第四季度提供了强有力的指导。</blockquote></p><p> MGM shares gained nearly 5% after the casino operator announcing plans to sell the operations of its Mirage casino in Las Vegas to another operator. The company noted that no sales agreement had been reached and it did not mention any possible buyers.</p><p><blockquote>赌场运营商米高梅宣布计划将其位于拉斯维加斯的Mirage赌场的业务出售给另一家运营商后，该公司股价上涨近5%。该公司指出，尚未达成销售协议，也没有提及任何可能的买家。</blockquote></p><p> Fastly's stock rose 8%&nbsp;as&nbsp;its third quarter performance exceeded market expectations, and some lost users were observed to return.</p><p><blockquote>Fastly股价上涨8%，因其第三季度业绩超出市场预期，且观察到部分流失用户回归。</blockquote></p><p> Yet Moderna shares cratered after the drugmaker&nbsp;slashed its Covid-19 vaccine revenue outlook. The sotck was last down about 11%.</p><p><blockquote>然而，在制药商Moderna大幅下调其Covid-19疫苗收入预期后，该公司股价暴跌。sotck最近下跌了约11%。</blockquote></p><p> And Roku was under pressure, falling more than 7% after the streaming platform&nbsp;reported disappointing third-quarter revenue.</p><p><blockquote>Roku也面临压力，在该流媒体平台公布令人失望的第三季度收入后，股价下跌超过7%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103660582","content_text":"The S&P 500 rose for a sixth day in a row on Thursday after the equity benchmark closed at a record following commentary from the Federal Reserve in the prior session.\nThe S&P 500 gained 0.2%, while the Dow Jones Industrial Average was trading near the flatline. The tech-heavy Nasdaq Composite rose 0.2%. All three averages finished the prior session at record highs.\n\nTesla shares rose more than 1% to a new high.\nQualcomm led gainers on the S&P 500, rallying 15% following an earnings beat propelled by a 56% surge in smartphone chip sales. The company also provide strong guidance for the fourth quarter.\nMGM shares gained nearly 5% after the casino operator announcing plans to sell the operations of its Mirage casino in Las Vegas to another operator. The company noted that no sales agreement had been reached and it did not mention any possible buyers.\nFastly's stock rose 8% as its third quarter performance exceeded market expectations, and some lost users were observed to return.\nYet Moderna shares cratered after the drugmaker slashed its Covid-19 vaccine revenue outlook. The sotck was last down about 11%.\nAnd Roku was under pressure, falling more than 7% after the streaming platform reported disappointing third-quarter revenue.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2432,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848770429,"gmtCreate":1636033191368,"gmtModify":1636033247396,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Thank you!","listText":"Thank you!","text":"Thank you!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848770429","repostId":"2180020937","repostType":2,"repost":{"id":"2180020937","kind":"news","pubTimestamp":1635846331,"share":"https://www.laohu8.com/m/news/2180020937?lang=zh_CN&edition=full","pubTime":"2021-11-02 17:45","market":"us","language":"en","title":"Warren Buffett says this is the best type of business to own when inflation spikes — in other words, what you should buy right now<blockquote>沃伦·巴菲特表示，这是通胀飙升时拥有的最佳企业类型——换句话说，你现在应该购买什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2180020937","media":"MoneyWise","summary":"Inflation is high. You might as well profit from it.High inflation rates in the country have become a serious concern on Wall Street.But fortunately for everyday investors, Berkshire Hathaway chief Warren Buffett has plenty of experience in navigating such an environment.Buffett managed a stock portfolio through periods of double-digit inflation rates in the 1970s and has plenty of advice on what to own when consumer prices spike.In a 1981 letter to Berkshire shareholders, Buffett highlighted tw","content":"<p>Inflation is high. You might as well profit from it.</p><p><blockquote>通货膨胀很高。你不妨从中获利。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/143c38befb27f09743294aafaffbe94a\" tg-width=\"1800\" tg-height=\"800\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> High inflation rates in the country have become a serious concern on Wall Street.</p><p><blockquote>该国的高通胀率已成为华尔街的严重担忧。</blockquote></p><p> But fortunately for everyday investors, Berkshire Hathaway chief Warren Buffett has plenty of experience in navigating such an environment.</p><p><blockquote>但对于普通投资者来说幸运的是，伯克希尔哈撒韦公司首席执行官沃伦·巴菲特在应对这种环境方面拥有丰富的经验。</blockquote></p><p> Buffett managed a stock portfolio through periods of double-digit inflation rates in the 1970s and has plenty of advice on what to own when consumer prices spike.</p><p><blockquote>巴菲特在20世纪70年代管理了一个股票投资组合，度过了两位数的通胀率时期，并就消费者价格飙升时持有什么股票提出了很多建议。</blockquote></p><p> In a 1981 letter to Berkshire shareholders, Buffett highlighted two characteristics that make a business well adapted to an inflationary environment: 1) an ability to increase prices easily, and 2) an ability to take on more business without having to spend too much in order to do it.</p><p><blockquote>在1981年致伯克希尔股东的一封信中，巴菲特强调了使企业能够很好地适应通货膨胀环境的两个特征：1）能够轻松提高价格，2）能够在不花费太多的情况下承接更多业务。为了做到这一点。</blockquote></p><p> In other words, aim to invest in asset-light businesses with pricing power.</p><p><blockquote>换句话说，瞄准投资有定价权的轻资产业务。</blockquote></p><p> Let’s take a quick look at three companies that fit that description. One (or all) of them might be worth purchasing with your spare pennies.</p><p><blockquote>让我们快速浏览一下符合这一描述的三家公司。其中一个（或全部）可能值得用你的闲钱购买。</blockquote></p><p> <b>Nike (NKE)</b></p><p><blockquote><b>耐克(NKE)</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0a24fd7cb9b4e01313c7bb848af6da9d\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>TY Lim/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>泰·林/Shutterstock</span></p></blockquote></p><p> Nike is a global footwear powerhouse that commands high customer loyalty.</p><p><blockquote>耐克是全球鞋类巨头，拥有很高的客户忠诚度。</blockquote></p><p> Customers are willing to pay top dollar for signature gear associated with high-profile athletes like LeBron James and Michael Jordan.</p><p><blockquote>顾客愿意花高价购买与勒布朗·詹姆斯和迈克尔·乔丹等知名运动员相关的标志性装备。</blockquote></p><p> Despite inflationary pressures, Nike continues to expand gross margins and post solid returns on equity well above 30%.</p><p><blockquote>尽管面临通胀压力，耐克仍继续扩大毛利率，并实现远高于30%的稳健股本回报率。</blockquote></p><p> The company is also capturing the full price of its products in an increasingly digital, direct-to-consumer business model.</p><p><blockquote>该公司还在日益数字化、直接面向消费者的商业模式中获取其产品的全价。</blockquote></p><p> Management believes digital sales could continue to grow from 20% of revenue currently to about 40% of the business by 2025. And price increases could kick in as early as next year.</p><p><blockquote>管理层认为，到2025年，数字销售可能会继续从目前占收入的20%增长到业务的40%左右。价格上涨最早可能在明年开始。</blockquote></p><p> Amazingly, profit margins may keep expanding, even as operating costs rise with inflation.</p><p><blockquote>令人惊讶的是，利润率可能会继续扩大，即使运营成本随着通货膨胀而上升。</blockquote></p><p> Nike shares are up about 19% so far in 2021.</p><p><blockquote>2021年迄今为止，耐克股价已上涨约19%。</blockquote></p><p> <b>Apple (AAPL)</b></p><p><blockquote><b>苹果(AAPL)</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b22460a66469a2da0380edd32d454c84\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>Vytautas Kielaitis/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>维陶塔斯·基莱蒂斯/Shutterstock</span></p></blockquote></p><p> Global demand for Apple’s premium-priced hardware is growing, as are adoption rates for its high-margin Apple services.</p><p><blockquote>全球对苹果高端硬件的需求正在增长，其高利润苹果服务的采用率也在增长。</blockquote></p><p> Strong brand identity, user friendliness, and a wide range of fully integrated products are powerful attributes that aren’t going away any time soon.</p><p><blockquote>强大的品牌形象、用户友好性和各种完全集成的产品是不会很快消失的强大属性。</blockquote></p><p> Customers just can’t afford to live outside the Apple ecosystem. That gives the tech giant more freedom to play with pricing as inflation spikes.</p><p><blockquote>客户无法生活在苹果生态系统之外。随着通胀飙升，这让这家科技巨头在定价方面有更多的自由。</blockquote></p><p> The company’s latest M1 chips, which will gradually replace Intel’s CPUs in every single Mac, underscore its commitment to constant innovation.</p><p><blockquote>该公司最新的M1芯片将逐渐取代每台Mac中的英特尔CPU，突显了其不断创新的承诺。</blockquote></p><p> Apple’s ability to pass rising costs to a global consumer base without significant loss of sales volumes is undeniable.</p><p><blockquote>不可否认，苹果有能力将不断上升的成本转嫁给全球消费者群体，而不会大幅损失销量。</blockquote></p><p> Warren Buffett has allowed Apple to grow to 40% of Berkshire Hathaway’s investments portfolio for good reason: The business just keeps growing profits through all economic cycles.</p><p><blockquote>Warren Buffett允许苹果在Berkshire Hathaway的投资组合中增长到40%，这是有充分理由的：该业务在所有经济周期中都保持利润增长。</blockquote></p><p> Apple is up about 13% year to date and trades at nearly $150 per share. But if you’re on the fence about jumping in at the current level, some apps might give you a free share of Apple just for signing up.</p><p><blockquote>苹果今年迄今已上涨约13%，交易价格接近每股150美元。但如果你对目前的水平犹豫不决，一些应用程序可能会给你一份免费的苹果，只是为了注册。</blockquote></p><p> <b>Levi Strauss &amp; Co. (LEVI)</b></p><p><blockquote><b>李维斯公司（LEVI）</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/71b31165e275a966ad050139a054c73a\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>dean bertoncelj/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>dean bertoncelj/Shutterstock</span></p></blockquote></p><p> A market leader in the denim business, Levi Strauss has been firing on all cylinders of late.</p><p><blockquote>作为牛仔布行业的市场领导者，李维斯最近一直在全力以赴。</blockquote></p><p> Specifically, its well-known brand and a flexible business model have enabled management to grow the top line without sacrificing pricing power.</p><p><blockquote>具体来说，其知名品牌和灵活的商业模式使管理层能够在不牺牲定价权的情况下增加营收。</blockquote></p><p> In the most recent quarter, revenue increased 41% while adjusted gross margin improved 390 basis points to 57.5%.</p><p><blockquote>最近一个季度，收入增长了41%，调整后毛利率提高了390个基点，达到57.5%。</blockquote></p><p> In fact, management proactively started adjusting its pricing for inflation back in 2020.</p><p><blockquote>事实上，管理层早在2020年就开始主动调整通胀定价。</blockquote></p><p> The company also sources raw materials from 24 different countries. And that kind of supply chain diversification provides Levi Strauss with plenty of flexibility during times of crisis.</p><p><blockquote>该公司还从24个不同的国家采购原材料。这种供应链多元化为李维斯在危机时期提供了足够的灵活性。</blockquote></p><p> Levi shares are up more than 30% in 2021.</p><p><blockquote>Levi股价在2021年上涨了30%以上。</blockquote></p><p> <b>The ultimate 'forever asset'?</b></p><p><blockquote><b>终极“永久资产”？</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5d520eb27cdf18f25a787cd9145eb1b\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>MNStudio/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>MNStudio/Shutterstock</span></p></blockquote></p><p> Warren Buffett once said that his favorite holding period is forever.</p><p><blockquote>沃伦·巴菲特曾经说过，他最喜欢的持有期是永远。</blockquote></p><p> But forever is a long time, and since companies rise and fall, growing your wealth by never selling a share may not be the best strategy.</p><p><blockquote>但永远是一段很长的时间，由于公司兴衰，通过从不出售股票来增加财富可能不是最好的策略。</blockquote></p><p> But there might be one inflation safe haven that's worth holding forever — U.S. farmland.</p><p><blockquote>但可能有一个通胀避风港值得永远持有——美国农田。</blockquote></p><p></p><p> No matter how high or fast consumer prices climb, people still need to eat. And it just so happens that Buffett’s good friend Bill Gates is America’s largest private owner of farmland.</p><p><blockquote>无论消费价格攀升得多高或多快，人们仍然需要吃饭。而恰好巴菲特的好朋友比尔·盖茨是美国最大的农田私人所有者。</blockquote></p><p> These days, new platforms allow you to invest in U.S. farmland by taking stake in a farm of your choice.</p><p><blockquote>如今，新平台允许你通过入股你选择的农场来投资美国农田。</blockquote></p><p> You’ll earn cash income from the leasing fees and crop sales. And of course, you’ll benefit from any long-term appreciation on top of that.</p><p><blockquote>你将从租赁费和农作物销售中获得现金收入。当然，除此之外，你还会从任何长期升值中受益。</blockquote></p><p> <i>This article provides information only and should not be construed as advice. It is provided without warranty of any kind.</i></p><p><blockquote><i>本文仅提供信息，不应被解释为建议。它没有任何形式的担保。</i></blockquote></p><p></p>","source":"lsy1621813427262","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>Warren Buffett says this is the best type of business to own when inflation spikes — in other words, what you should buy right now<blockquote>沃伦·巴菲特表示，这是通胀飙升时拥有的最佳企业类型——换句话说，你现在应该购买什么</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\">\nWarren Buffett says this is the best type of business to own when inflation spikes — in other words, what you should buy right now<blockquote>沃伦·巴菲特表示，这是通胀飙升时拥有的最佳企业类型——换句话说，你现在应该购买什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MoneyWise</strong><span class=\"h-time small\">2021-11-02 17:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Inflation is high. You might as well profit from it.</p><p><blockquote>通货膨胀很高。你不妨从中获利。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/143c38befb27f09743294aafaffbe94a\" tg-width=\"1800\" tg-height=\"800\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> High inflation rates in the country have become a serious concern on Wall Street.</p><p><blockquote>该国的高通胀率已成为华尔街的严重担忧。</blockquote></p><p> But fortunately for everyday investors, Berkshire Hathaway chief Warren Buffett has plenty of experience in navigating such an environment.</p><p><blockquote>但对于普通投资者来说幸运的是，伯克希尔哈撒韦公司首席执行官沃伦·巴菲特在应对这种环境方面拥有丰富的经验。</blockquote></p><p> Buffett managed a stock portfolio through periods of double-digit inflation rates in the 1970s and has plenty of advice on what to own when consumer prices spike.</p><p><blockquote>巴菲特在20世纪70年代管理了一个股票投资组合，度过了两位数的通胀率时期，并就消费者价格飙升时持有什么股票提出了很多建议。</blockquote></p><p> In a 1981 letter to Berkshire shareholders, Buffett highlighted two characteristics that make a business well adapted to an inflationary environment: 1) an ability to increase prices easily, and 2) an ability to take on more business without having to spend too much in order to do it.</p><p><blockquote>在1981年致伯克希尔股东的一封信中，巴菲特强调了使企业能够很好地适应通货膨胀环境的两个特征：1）能够轻松提高价格，2）能够在不花费太多的情况下承接更多业务。为了做到这一点。</blockquote></p><p> In other words, aim to invest in asset-light businesses with pricing power.</p><p><blockquote>换句话说，瞄准投资有定价权的轻资产业务。</blockquote></p><p> Let’s take a quick look at three companies that fit that description. One (or all) of them might be worth purchasing with your spare pennies.</p><p><blockquote>让我们快速浏览一下符合这一描述的三家公司。其中一个（或全部）可能值得用你的闲钱购买。</blockquote></p><p> <b>Nike (NKE)</b></p><p><blockquote><b>耐克(NKE)</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0a24fd7cb9b4e01313c7bb848af6da9d\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>TY Lim/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>泰·林/Shutterstock</span></p></blockquote></p><p> Nike is a global footwear powerhouse that commands high customer loyalty.</p><p><blockquote>耐克是全球鞋类巨头，拥有很高的客户忠诚度。</blockquote></p><p> Customers are willing to pay top dollar for signature gear associated with high-profile athletes like LeBron James and Michael Jordan.</p><p><blockquote>顾客愿意花高价购买与勒布朗·詹姆斯和迈克尔·乔丹等知名运动员相关的标志性装备。</blockquote></p><p> Despite inflationary pressures, Nike continues to expand gross margins and post solid returns on equity well above 30%.</p><p><blockquote>尽管面临通胀压力，耐克仍继续扩大毛利率，并实现远高于30%的稳健股本回报率。</blockquote></p><p> The company is also capturing the full price of its products in an increasingly digital, direct-to-consumer business model.</p><p><blockquote>该公司还在日益数字化、直接面向消费者的商业模式中获取其产品的全价。</blockquote></p><p> Management believes digital sales could continue to grow from 20% of revenue currently to about 40% of the business by 2025. And price increases could kick in as early as next year.</p><p><blockquote>管理层认为，到2025年，数字销售可能会继续从目前占收入的20%增长到业务的40%左右。价格上涨最早可能在明年开始。</blockquote></p><p> Amazingly, profit margins may keep expanding, even as operating costs rise with inflation.</p><p><blockquote>令人惊讶的是，利润率可能会继续扩大，即使运营成本随着通货膨胀而上升。</blockquote></p><p> Nike shares are up about 19% so far in 2021.</p><p><blockquote>2021年迄今为止，耐克股价已上涨约19%。</blockquote></p><p> <b>Apple (AAPL)</b></p><p><blockquote><b>苹果(AAPL)</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b22460a66469a2da0380edd32d454c84\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>Vytautas Kielaitis/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>维陶塔斯·基莱蒂斯/Shutterstock</span></p></blockquote></p><p> Global demand for Apple’s premium-priced hardware is growing, as are adoption rates for its high-margin Apple services.</p><p><blockquote>全球对苹果高端硬件的需求正在增长，其高利润苹果服务的采用率也在增长。</blockquote></p><p> Strong brand identity, user friendliness, and a wide range of fully integrated products are powerful attributes that aren’t going away any time soon.</p><p><blockquote>强大的品牌形象、用户友好性和各种完全集成的产品是不会很快消失的强大属性。</blockquote></p><p> Customers just can’t afford to live outside the Apple ecosystem. That gives the tech giant more freedom to play with pricing as inflation spikes.</p><p><blockquote>客户无法生活在苹果生态系统之外。随着通胀飙升，这让这家科技巨头在定价方面有更多的自由。</blockquote></p><p> The company’s latest M1 chips, which will gradually replace Intel’s CPUs in every single Mac, underscore its commitment to constant innovation.</p><p><blockquote>该公司最新的M1芯片将逐渐取代每台Mac中的英特尔CPU，突显了其不断创新的承诺。</blockquote></p><p> Apple’s ability to pass rising costs to a global consumer base without significant loss of sales volumes is undeniable.</p><p><blockquote>不可否认，苹果有能力将不断上升的成本转嫁给全球消费者群体，而不会大幅损失销量。</blockquote></p><p> Warren Buffett has allowed Apple to grow to 40% of Berkshire Hathaway’s investments portfolio for good reason: The business just keeps growing profits through all economic cycles.</p><p><blockquote>Warren Buffett允许苹果在Berkshire Hathaway的投资组合中增长到40%，这是有充分理由的：该业务在所有经济周期中都保持利润增长。</blockquote></p><p> Apple is up about 13% year to date and trades at nearly $150 per share. But if you’re on the fence about jumping in at the current level, some apps might give you a free share of Apple just for signing up.</p><p><blockquote>苹果今年迄今已上涨约13%，交易价格接近每股150美元。但如果你对目前的水平犹豫不决，一些应用程序可能会给你一份免费的苹果，只是为了注册。</blockquote></p><p> <b>Levi Strauss &amp; Co. (LEVI)</b></p><p><blockquote><b>李维斯公司（LEVI）</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/71b31165e275a966ad050139a054c73a\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>dean bertoncelj/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>dean bertoncelj/Shutterstock</span></p></blockquote></p><p> A market leader in the denim business, Levi Strauss has been firing on all cylinders of late.</p><p><blockquote>作为牛仔布行业的市场领导者，李维斯最近一直在全力以赴。</blockquote></p><p> Specifically, its well-known brand and a flexible business model have enabled management to grow the top line without sacrificing pricing power.</p><p><blockquote>具体来说，其知名品牌和灵活的商业模式使管理层能够在不牺牲定价权的情况下增加营收。</blockquote></p><p> In the most recent quarter, revenue increased 41% while adjusted gross margin improved 390 basis points to 57.5%.</p><p><blockquote>最近一个季度，收入增长了41%，调整后毛利率提高了390个基点，达到57.5%。</blockquote></p><p> In fact, management proactively started adjusting its pricing for inflation back in 2020.</p><p><blockquote>事实上，管理层早在2020年就开始主动调整通胀定价。</blockquote></p><p> The company also sources raw materials from 24 different countries. And that kind of supply chain diversification provides Levi Strauss with plenty of flexibility during times of crisis.</p><p><blockquote>该公司还从24个不同的国家采购原材料。这种供应链多元化为李维斯在危机时期提供了足够的灵活性。</blockquote></p><p> Levi shares are up more than 30% in 2021.</p><p><blockquote>Levi股价在2021年上涨了30%以上。</blockquote></p><p> <b>The ultimate 'forever asset'?</b></p><p><blockquote><b>终极“永久资产”？</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5d520eb27cdf18f25a787cd9145eb1b\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>MNStudio/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>MNStudio/Shutterstock</span></p></blockquote></p><p> Warren Buffett once said that his favorite holding period is forever.</p><p><blockquote>沃伦·巴菲特曾经说过，他最喜欢的持有期是永远。</blockquote></p><p> But forever is a long time, and since companies rise and fall, growing your wealth by never selling a share may not be the best strategy.</p><p><blockquote>但永远是一段很长的时间，由于公司兴衰，通过从不出售股票来增加财富可能不是最好的策略。</blockquote></p><p> But there might be one inflation safe haven that's worth holding forever — U.S. farmland.</p><p><blockquote>但可能有一个通胀避风港值得永远持有——美国农田。</blockquote></p><p></p><p> No matter how high or fast consumer prices climb, people still need to eat. And it just so happens that Buffett’s good friend Bill Gates is America’s largest private owner of farmland.</p><p><blockquote>无论消费价格攀升得多高或多快，人们仍然需要吃饭。而恰好巴菲特的好朋友比尔·盖茨是美国最大的农田私人所有者。</blockquote></p><p> These days, new platforms allow you to invest in U.S. farmland by taking stake in a farm of your choice.</p><p><blockquote>如今，新平台允许你通过入股你选择的农场来投资美国农田。</blockquote></p><p> You’ll earn cash income from the leasing fees and crop sales. And of course, you’ll benefit from any long-term appreciation on top of that.</p><p><blockquote>你将从租赁费和农作物销售中获得现金收入。当然，除此之外，你还会从任何长期升值中受益。</blockquote></p><p> <i>This article provides information only and should not be construed as advice. It is provided without warranty of any kind.</i></p><p><blockquote><i>本文仅提供信息，不应被解释为建议。它没有任何形式的担保。</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://moneywise.com/investing/stocks/warren-buffett-inflation-stocks\">MoneyWise</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LEVI":"李维斯","AAPL":"苹果","BRK.B":"伯克希尔B","INTC":"英特尔","BRK.A":"伯克希尔","NKE":"耐克"},"source_url":"https://moneywise.com/investing/stocks/warren-buffett-inflation-stocks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2180020937","content_text":"Inflation is high. You might as well profit from it.\n\nHigh inflation rates in the country have become a serious concern on Wall Street.\nBut fortunately for everyday investors, Berkshire Hathaway chief Warren Buffett has plenty of experience in navigating such an environment.\nBuffett managed a stock portfolio through periods of double-digit inflation rates in the 1970s and has plenty of advice on what to own when consumer prices spike.\nIn a 1981 letter to Berkshire shareholders, Buffett highlighted two characteristics that make a business well adapted to an inflationary environment: 1) an ability to increase prices easily, and 2) an ability to take on more business without having to spend too much in order to do it.\nIn other words, aim to invest in asset-light businesses with pricing power.\nLet’s take a quick look at three companies that fit that description. One (or all) of them might be worth purchasing with your spare pennies.\nNike (NKE)\nTY Lim/Shutterstock\nNike is a global footwear powerhouse that commands high customer loyalty.\nCustomers are willing to pay top dollar for signature gear associated with high-profile athletes like LeBron James and Michael Jordan.\nDespite inflationary pressures, Nike continues to expand gross margins and post solid returns on equity well above 30%.\nThe company is also capturing the full price of its products in an increasingly digital, direct-to-consumer business model.\nManagement believes digital sales could continue to grow from 20% of revenue currently to about 40% of the business by 2025. And price increases could kick in as early as next year.\nAmazingly, profit margins may keep expanding, even as operating costs rise with inflation.\nNike shares are up about 19% so far in 2021.\nApple (AAPL)\nVytautas Kielaitis/Shutterstock\nGlobal demand for Apple’s premium-priced hardware is growing, as are adoption rates for its high-margin Apple services.\nStrong brand identity, user friendliness, and a wide range of fully integrated products are powerful attributes that aren’t going away any time soon.\nCustomers just can’t afford to live outside the Apple ecosystem. That gives the tech giant more freedom to play with pricing as inflation spikes.\nThe company’s latest M1 chips, which will gradually replace Intel’s CPUs in every single Mac, underscore its commitment to constant innovation.\nApple’s ability to pass rising costs to a global consumer base without significant loss of sales volumes is undeniable.\nWarren Buffett has allowed Apple to grow to 40% of Berkshire Hathaway’s investments portfolio for good reason: The business just keeps growing profits through all economic cycles.\nApple is up about 13% year to date and trades at nearly $150 per share. But if you’re on the fence about jumping in at the current level, some apps might give you a free share of Apple just for signing up.\nLevi Strauss & Co. (LEVI)\ndean bertoncelj/Shutterstock\nA market leader in the denim business, Levi Strauss has been firing on all cylinders of late.\nSpecifically, its well-known brand and a flexible business model have enabled management to grow the top line without sacrificing pricing power.\nIn the most recent quarter, revenue increased 41% while adjusted gross margin improved 390 basis points to 57.5%.\nIn fact, management proactively started adjusting its pricing for inflation back in 2020.\nThe company also sources raw materials from 24 different countries. And that kind of supply chain diversification provides Levi Strauss with plenty of flexibility during times of crisis.\nLevi shares are up more than 30% in 2021.\nThe ultimate 'forever asset'?\nMNStudio/Shutterstock\nWarren Buffett once said that his favorite holding period is forever.\nBut forever is a long time, and since companies rise and fall, growing your wealth by never selling a share may not be the best strategy.\nBut there might be one inflation safe haven that's worth holding forever — U.S. farmland.\nNo matter how high or fast consumer prices climb, people still need to eat. And it just so happens that Buffett’s good friend Bill Gates is America’s largest private owner of farmland.\nThese days, new platforms allow you to invest in U.S. farmland by taking stake in a farm of your choice.\nYou’ll earn cash income from the leasing fees and crop sales. And of course, you’ll benefit from any long-term appreciation on top of that.\nThis article provides information only and should not be construed as advice. It is provided without warranty of any kind.","news_type":1,"symbols_score_info":{"BRK.B":0.9,"NKE":0.9,"BRK.A":0.9,"LEVI":0.9,"AAPL":0.9,"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":3071,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":841087981,"gmtCreate":1635863439047,"gmtModify":1635863439229,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Ok time to buy?","listText":"Ok time to buy?","text":"Ok time to buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/841087981","repostId":"2180020937","repostType":2,"repost":{"id":"2180020937","kind":"news","pubTimestamp":1635846331,"share":"https://www.laohu8.com/m/news/2180020937?lang=zh_CN&edition=full","pubTime":"2021-11-02 17:45","market":"us","language":"en","title":"Warren Buffett says this is the best type of business to own when inflation spikes — in other words, what you should buy right now<blockquote>沃伦·巴菲特表示，这是通胀飙升时拥有的最佳企业类型——换句话说，你现在应该购买什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2180020937","media":"MoneyWise","summary":"Inflation is high. You might as well profit from it.High inflation rates in the country have become a serious concern on Wall Street.But fortunately for everyday investors, Berkshire Hathaway chief Warren Buffett has plenty of experience in navigating such an environment.Buffett managed a stock portfolio through periods of double-digit inflation rates in the 1970s and has plenty of advice on what to own when consumer prices spike.In a 1981 letter to Berkshire shareholders, Buffett highlighted tw","content":"<p>Inflation is high. You might as well profit from it.</p><p><blockquote>通货膨胀很高。你不妨从中获利。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/143c38befb27f09743294aafaffbe94a\" tg-width=\"1800\" tg-height=\"800\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> High inflation rates in the country have become a serious concern on Wall Street.</p><p><blockquote>该国的高通胀率已成为华尔街的严重担忧。</blockquote></p><p> But fortunately for everyday investors, Berkshire Hathaway chief Warren Buffett has plenty of experience in navigating such an environment.</p><p><blockquote>但对于普通投资者来说幸运的是，伯克希尔哈撒韦公司首席执行官沃伦·巴菲特在应对这种环境方面拥有丰富的经验。</blockquote></p><p> Buffett managed a stock portfolio through periods of double-digit inflation rates in the 1970s and has plenty of advice on what to own when consumer prices spike.</p><p><blockquote>巴菲特在20世纪70年代管理了一个股票投资组合，度过了两位数的通胀率时期，并就消费者价格飙升时持有什么股票提出了很多建议。</blockquote></p><p> In a 1981 letter to Berkshire shareholders, Buffett highlighted two characteristics that make a business well adapted to an inflationary environment: 1) an ability to increase prices easily, and 2) an ability to take on more business without having to spend too much in order to do it.</p><p><blockquote>在1981年致伯克希尔股东的一封信中，巴菲特强调了使企业能够很好地适应通货膨胀环境的两个特征：1）能够轻松提高价格，2）能够在不花费太多的情况下承接更多业务。为了做到这一点。</blockquote></p><p> In other words, aim to invest in asset-light businesses with pricing power.</p><p><blockquote>换句话说，瞄准投资有定价权的轻资产业务。</blockquote></p><p> Let’s take a quick look at three companies that fit that description. One (or all) of them might be worth purchasing with your spare pennies.</p><p><blockquote>让我们快速浏览一下符合这一描述的三家公司。其中一个（或全部）可能值得用你的闲钱购买。</blockquote></p><p> <b>Nike (NKE)</b></p><p><blockquote><b>耐克(NKE)</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0a24fd7cb9b4e01313c7bb848af6da9d\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>TY Lim/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>泰·林/Shutterstock</span></p></blockquote></p><p> Nike is a global footwear powerhouse that commands high customer loyalty.</p><p><blockquote>耐克是全球鞋类巨头，拥有很高的客户忠诚度。</blockquote></p><p> Customers are willing to pay top dollar for signature gear associated with high-profile athletes like LeBron James and Michael Jordan.</p><p><blockquote>顾客愿意花高价购买与勒布朗·詹姆斯和迈克尔·乔丹等知名运动员相关的标志性装备。</blockquote></p><p> Despite inflationary pressures, Nike continues to expand gross margins and post solid returns on equity well above 30%.</p><p><blockquote>尽管面临通胀压力，耐克仍继续扩大毛利率，并实现远高于30%的稳健股本回报率。</blockquote></p><p> The company is also capturing the full price of its products in an increasingly digital, direct-to-consumer business model.</p><p><blockquote>该公司还在日益数字化、直接面向消费者的商业模式中获取其产品的全价。</blockquote></p><p> Management believes digital sales could continue to grow from 20% of revenue currently to about 40% of the business by 2025. And price increases could kick in as early as next year.</p><p><blockquote>管理层认为，到2025年，数字销售可能会继续从目前占收入的20%增长到业务的40%左右。价格上涨最早可能在明年开始。</blockquote></p><p> Amazingly, profit margins may keep expanding, even as operating costs rise with inflation.</p><p><blockquote>令人惊讶的是，利润率可能会继续扩大，即使运营成本随着通货膨胀而上升。</blockquote></p><p> Nike shares are up about 19% so far in 2021.</p><p><blockquote>2021年迄今为止，耐克股价已上涨约19%。</blockquote></p><p> <b>Apple (AAPL)</b></p><p><blockquote><b>苹果(AAPL)</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b22460a66469a2da0380edd32d454c84\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>Vytautas Kielaitis/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>维陶塔斯·基莱蒂斯/Shutterstock</span></p></blockquote></p><p> Global demand for Apple’s premium-priced hardware is growing, as are adoption rates for its high-margin Apple services.</p><p><blockquote>全球对苹果高端硬件的需求正在增长，其高利润苹果服务的采用率也在增长。</blockquote></p><p> Strong brand identity, user friendliness, and a wide range of fully integrated products are powerful attributes that aren’t going away any time soon.</p><p><blockquote>强大的品牌形象、用户友好性和各种完全集成的产品是不会很快消失的强大属性。</blockquote></p><p> Customers just can’t afford to live outside the Apple ecosystem. That gives the tech giant more freedom to play with pricing as inflation spikes.</p><p><blockquote>客户无法生活在苹果生态系统之外。随着通胀飙升，这让这家科技巨头在定价方面有更多的自由。</blockquote></p><p> The company’s latest M1 chips, which will gradually replace Intel’s CPUs in every single Mac, underscore its commitment to constant innovation.</p><p><blockquote>该公司最新的M1芯片将逐渐取代每台Mac中的英特尔CPU，突显了其不断创新的承诺。</blockquote></p><p> Apple’s ability to pass rising costs to a global consumer base without significant loss of sales volumes is undeniable.</p><p><blockquote>不可否认，苹果有能力将不断上升的成本转嫁给全球消费者群体，而不会大幅损失销量。</blockquote></p><p> Warren Buffett has allowed Apple to grow to 40% of Berkshire Hathaway’s investments portfolio for good reason: The business just keeps growing profits through all economic cycles.</p><p><blockquote>Warren Buffett允许苹果在Berkshire Hathaway的投资组合中增长到40%，这是有充分理由的：该业务在所有经济周期中都保持利润增长。</blockquote></p><p> Apple is up about 13% year to date and trades at nearly $150 per share. But if you’re on the fence about jumping in at the current level, some apps might give you a free share of Apple just for signing up.</p><p><blockquote>苹果今年迄今已上涨约13%，交易价格接近每股150美元。但如果你对目前的水平犹豫不决，一些应用程序可能会给你一份免费的苹果，只是为了注册。</blockquote></p><p> <b>Levi Strauss &amp; Co. (LEVI)</b></p><p><blockquote><b>李维斯公司（LEVI）</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/71b31165e275a966ad050139a054c73a\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>dean bertoncelj/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>dean bertoncelj/Shutterstock</span></p></blockquote></p><p> A market leader in the denim business, Levi Strauss has been firing on all cylinders of late.</p><p><blockquote>作为牛仔布行业的市场领导者，李维斯最近一直在全力以赴。</blockquote></p><p> Specifically, its well-known brand and a flexible business model have enabled management to grow the top line without sacrificing pricing power.</p><p><blockquote>具体来说，其知名品牌和灵活的商业模式使管理层能够在不牺牲定价权的情况下增加营收。</blockquote></p><p> In the most recent quarter, revenue increased 41% while adjusted gross margin improved 390 basis points to 57.5%.</p><p><blockquote>最近一个季度，收入增长了41%，调整后毛利率提高了390个基点，达到57.5%。</blockquote></p><p> In fact, management proactively started adjusting its pricing for inflation back in 2020.</p><p><blockquote>事实上，管理层早在2020年就开始主动调整通胀定价。</blockquote></p><p> The company also sources raw materials from 24 different countries. And that kind of supply chain diversification provides Levi Strauss with plenty of flexibility during times of crisis.</p><p><blockquote>该公司还从24个不同的国家采购原材料。这种供应链多元化为李维斯在危机时期提供了足够的灵活性。</blockquote></p><p> Levi shares are up more than 30% in 2021.</p><p><blockquote>Levi股价在2021年上涨了30%以上。</blockquote></p><p> <b>The ultimate 'forever asset'?</b></p><p><blockquote><b>终极“永久资产”？</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5d520eb27cdf18f25a787cd9145eb1b\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>MNStudio/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>MNStudio/Shutterstock</span></p></blockquote></p><p> Warren Buffett once said that his favorite holding period is forever.</p><p><blockquote>沃伦·巴菲特曾经说过，他最喜欢的持有期是永远。</blockquote></p><p> But forever is a long time, and since companies rise and fall, growing your wealth by never selling a share may not be the best strategy.</p><p><blockquote>但永远是一段很长的时间，由于公司兴衰，通过从不出售股票来增加财富可能不是最好的策略。</blockquote></p><p> But there might be one inflation safe haven that's worth holding forever — U.S. farmland.</p><p><blockquote>但可能有一个通胀避风港值得永远持有——美国农田。</blockquote></p><p></p><p> No matter how high or fast consumer prices climb, people still need to eat. And it just so happens that Buffett’s good friend Bill Gates is America’s largest private owner of farmland.</p><p><blockquote>无论消费价格攀升得多高或多快，人们仍然需要吃饭。而恰好巴菲特的好朋友比尔·盖茨是美国最大的农田私人所有者。</blockquote></p><p> These days, new platforms allow you to invest in U.S. farmland by taking stake in a farm of your choice.</p><p><blockquote>如今，新平台允许你通过入股你选择的农场来投资美国农田。</blockquote></p><p> You’ll earn cash income from the leasing fees and crop sales. And of course, you’ll benefit from any long-term appreciation on top of that.</p><p><blockquote>你将从租赁费和农作物销售中获得现金收入。当然，除此之外，你还会从任何长期升值中受益。</blockquote></p><p> <i>This article provides information only and should not be construed as advice. It is provided without warranty of any kind.</i></p><p><blockquote><i>本文仅提供信息，不应被解释为建议。它没有任何形式的担保。</i></blockquote></p><p></p>","source":"lsy1621813427262","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>Warren Buffett says this is the best type of business to own when inflation spikes — in other words, what you should buy right now<blockquote>沃伦·巴菲特表示，这是通胀飙升时拥有的最佳企业类型——换句话说，你现在应该购买什么</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\">\nWarren Buffett says this is the best type of business to own when inflation spikes — in other words, what you should buy right now<blockquote>沃伦·巴菲特表示，这是通胀飙升时拥有的最佳企业类型——换句话说，你现在应该购买什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MoneyWise</strong><span class=\"h-time small\">2021-11-02 17:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Inflation is high. You might as well profit from it.</p><p><blockquote>通货膨胀很高。你不妨从中获利。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/143c38befb27f09743294aafaffbe94a\" tg-width=\"1800\" tg-height=\"800\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> High inflation rates in the country have become a serious concern on Wall Street.</p><p><blockquote>该国的高通胀率已成为华尔街的严重担忧。</blockquote></p><p> But fortunately for everyday investors, Berkshire Hathaway chief Warren Buffett has plenty of experience in navigating such an environment.</p><p><blockquote>但对于普通投资者来说幸运的是，伯克希尔哈撒韦公司首席执行官沃伦·巴菲特在应对这种环境方面拥有丰富的经验。</blockquote></p><p> Buffett managed a stock portfolio through periods of double-digit inflation rates in the 1970s and has plenty of advice on what to own when consumer prices spike.</p><p><blockquote>巴菲特在20世纪70年代管理了一个股票投资组合，度过了两位数的通胀率时期，并就消费者价格飙升时持有什么股票提出了很多建议。</blockquote></p><p> In a 1981 letter to Berkshire shareholders, Buffett highlighted two characteristics that make a business well adapted to an inflationary environment: 1) an ability to increase prices easily, and 2) an ability to take on more business without having to spend too much in order to do it.</p><p><blockquote>在1981年致伯克希尔股东的一封信中，巴菲特强调了使企业能够很好地适应通货膨胀环境的两个特征：1）能够轻松提高价格，2）能够在不花费太多的情况下承接更多业务。为了做到这一点。</blockquote></p><p> In other words, aim to invest in asset-light businesses with pricing power.</p><p><blockquote>换句话说，瞄准投资有定价权的轻资产业务。</blockquote></p><p> Let’s take a quick look at three companies that fit that description. One (or all) of them might be worth purchasing with your spare pennies.</p><p><blockquote>让我们快速浏览一下符合这一描述的三家公司。其中一个（或全部）可能值得用你的闲钱购买。</blockquote></p><p> <b>Nike (NKE)</b></p><p><blockquote><b>耐克(NKE)</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0a24fd7cb9b4e01313c7bb848af6da9d\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>TY Lim/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>泰·林/Shutterstock</span></p></blockquote></p><p> Nike is a global footwear powerhouse that commands high customer loyalty.</p><p><blockquote>耐克是全球鞋类巨头，拥有很高的客户忠诚度。</blockquote></p><p> Customers are willing to pay top dollar for signature gear associated with high-profile athletes like LeBron James and Michael Jordan.</p><p><blockquote>顾客愿意花高价购买与勒布朗·詹姆斯和迈克尔·乔丹等知名运动员相关的标志性装备。</blockquote></p><p> Despite inflationary pressures, Nike continues to expand gross margins and post solid returns on equity well above 30%.</p><p><blockquote>尽管面临通胀压力，耐克仍继续扩大毛利率，并实现远高于30%的稳健股本回报率。</blockquote></p><p> The company is also capturing the full price of its products in an increasingly digital, direct-to-consumer business model.</p><p><blockquote>该公司还在日益数字化、直接面向消费者的商业模式中获取其产品的全价。</blockquote></p><p> Management believes digital sales could continue to grow from 20% of revenue currently to about 40% of the business by 2025. And price increases could kick in as early as next year.</p><p><blockquote>管理层认为，到2025年，数字销售可能会继续从目前占收入的20%增长到业务的40%左右。价格上涨最早可能在明年开始。</blockquote></p><p> Amazingly, profit margins may keep expanding, even as operating costs rise with inflation.</p><p><blockquote>令人惊讶的是，利润率可能会继续扩大，即使运营成本随着通货膨胀而上升。</blockquote></p><p> Nike shares are up about 19% so far in 2021.</p><p><blockquote>2021年迄今为止，耐克股价已上涨约19%。</blockquote></p><p> <b>Apple (AAPL)</b></p><p><blockquote><b>苹果(AAPL)</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b22460a66469a2da0380edd32d454c84\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>Vytautas Kielaitis/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>维陶塔斯·基莱蒂斯/Shutterstock</span></p></blockquote></p><p> Global demand for Apple’s premium-priced hardware is growing, as are adoption rates for its high-margin Apple services.</p><p><blockquote>全球对苹果高端硬件的需求正在增长，其高利润苹果服务的采用率也在增长。</blockquote></p><p> Strong brand identity, user friendliness, and a wide range of fully integrated products are powerful attributes that aren’t going away any time soon.</p><p><blockquote>强大的品牌形象、用户友好性和各种完全集成的产品是不会很快消失的强大属性。</blockquote></p><p> Customers just can’t afford to live outside the Apple ecosystem. That gives the tech giant more freedom to play with pricing as inflation spikes.</p><p><blockquote>客户无法生活在苹果生态系统之外。随着通胀飙升，这让这家科技巨头在定价方面有更多的自由。</blockquote></p><p> The company’s latest M1 chips, which will gradually replace Intel’s CPUs in every single Mac, underscore its commitment to constant innovation.</p><p><blockquote>该公司最新的M1芯片将逐渐取代每台Mac中的英特尔CPU，突显了其不断创新的承诺。</blockquote></p><p> Apple’s ability to pass rising costs to a global consumer base without significant loss of sales volumes is undeniable.</p><p><blockquote>不可否认，苹果有能力将不断上升的成本转嫁给全球消费者群体，而不会大幅损失销量。</blockquote></p><p> Warren Buffett has allowed Apple to grow to 40% of Berkshire Hathaway’s investments portfolio for good reason: The business just keeps growing profits through all economic cycles.</p><p><blockquote>Warren Buffett允许苹果在Berkshire Hathaway的投资组合中增长到40%，这是有充分理由的：该业务在所有经济周期中都保持利润增长。</blockquote></p><p> Apple is up about 13% year to date and trades at nearly $150 per share. But if you’re on the fence about jumping in at the current level, some apps might give you a free share of Apple just for signing up.</p><p><blockquote>苹果今年迄今已上涨约13%，交易价格接近每股150美元。但如果你对目前的水平犹豫不决，一些应用程序可能会给你一份免费的苹果，只是为了注册。</blockquote></p><p> <b>Levi Strauss &amp; Co. (LEVI)</b></p><p><blockquote><b>李维斯公司（LEVI）</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/71b31165e275a966ad050139a054c73a\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>dean bertoncelj/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>dean bertoncelj/Shutterstock</span></p></blockquote></p><p> A market leader in the denim business, Levi Strauss has been firing on all cylinders of late.</p><p><blockquote>作为牛仔布行业的市场领导者，李维斯最近一直在全力以赴。</blockquote></p><p> Specifically, its well-known brand and a flexible business model have enabled management to grow the top line without sacrificing pricing power.</p><p><blockquote>具体来说，其知名品牌和灵活的商业模式使管理层能够在不牺牲定价权的情况下增加营收。</blockquote></p><p> In the most recent quarter, revenue increased 41% while adjusted gross margin improved 390 basis points to 57.5%.</p><p><blockquote>最近一个季度，收入增长了41%，调整后毛利率提高了390个基点，达到57.5%。</blockquote></p><p> In fact, management proactively started adjusting its pricing for inflation back in 2020.</p><p><blockquote>事实上，管理层早在2020年就开始主动调整通胀定价。</blockquote></p><p> The company also sources raw materials from 24 different countries. And that kind of supply chain diversification provides Levi Strauss with plenty of flexibility during times of crisis.</p><p><blockquote>该公司还从24个不同的国家采购原材料。这种供应链多元化为李维斯在危机时期提供了足够的灵活性。</blockquote></p><p> Levi shares are up more than 30% in 2021.</p><p><blockquote>Levi股价在2021年上涨了30%以上。</blockquote></p><p> <b>The ultimate 'forever asset'?</b></p><p><blockquote><b>终极“永久资产”？</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5d520eb27cdf18f25a787cd9145eb1b\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>MNStudio/Shutterstock</span></p><p><blockquote><p class=\"t-img-caption\"><span>MNStudio/Shutterstock</span></p></blockquote></p><p> Warren Buffett once said that his favorite holding period is forever.</p><p><blockquote>沃伦·巴菲特曾经说过，他最喜欢的持有期是永远。</blockquote></p><p> But forever is a long time, and since companies rise and fall, growing your wealth by never selling a share may not be the best strategy.</p><p><blockquote>但永远是一段很长的时间，由于公司兴衰，通过从不出售股票来增加财富可能不是最好的策略。</blockquote></p><p> But there might be one inflation safe haven that's worth holding forever — U.S. farmland.</p><p><blockquote>但可能有一个通胀避风港值得永远持有——美国农田。</blockquote></p><p></p><p> No matter how high or fast consumer prices climb, people still need to eat. And it just so happens that Buffett’s good friend Bill Gates is America’s largest private owner of farmland.</p><p><blockquote>无论消费价格攀升得多高或多快，人们仍然需要吃饭。而恰好巴菲特的好朋友比尔·盖茨是美国最大的农田私人所有者。</blockquote></p><p> These days, new platforms allow you to invest in U.S. farmland by taking stake in a farm of your choice.</p><p><blockquote>如今，新平台允许你通过入股你选择的农场来投资美国农田。</blockquote></p><p> You’ll earn cash income from the leasing fees and crop sales. And of course, you’ll benefit from any long-term appreciation on top of that.</p><p><blockquote>你将从租赁费和农作物销售中获得现金收入。当然，除此之外，你还会从任何长期升值中受益。</blockquote></p><p> <i>This article provides information only and should not be construed as advice. It is provided without warranty of any kind.</i></p><p><blockquote><i>本文仅提供信息，不应被解释为建议。它没有任何形式的担保。</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://moneywise.com/investing/stocks/warren-buffett-inflation-stocks\">MoneyWise</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LEVI":"李维斯","AAPL":"苹果","BRK.B":"伯克希尔B","INTC":"英特尔","BRK.A":"伯克希尔","NKE":"耐克"},"source_url":"https://moneywise.com/investing/stocks/warren-buffett-inflation-stocks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2180020937","content_text":"Inflation is high. You might as well profit from it.\n\nHigh inflation rates in the country have become a serious concern on Wall Street.\nBut fortunately for everyday investors, Berkshire Hathaway chief Warren Buffett has plenty of experience in navigating such an environment.\nBuffett managed a stock portfolio through periods of double-digit inflation rates in the 1970s and has plenty of advice on what to own when consumer prices spike.\nIn a 1981 letter to Berkshire shareholders, Buffett highlighted two characteristics that make a business well adapted to an inflationary environment: 1) an ability to increase prices easily, and 2) an ability to take on more business without having to spend too much in order to do it.\nIn other words, aim to invest in asset-light businesses with pricing power.\nLet’s take a quick look at three companies that fit that description. One (or all) of them might be worth purchasing with your spare pennies.\nNike (NKE)\nTY Lim/Shutterstock\nNike is a global footwear powerhouse that commands high customer loyalty.\nCustomers are willing to pay top dollar for signature gear associated with high-profile athletes like LeBron James and Michael Jordan.\nDespite inflationary pressures, Nike continues to expand gross margins and post solid returns on equity well above 30%.\nThe company is also capturing the full price of its products in an increasingly digital, direct-to-consumer business model.\nManagement believes digital sales could continue to grow from 20% of revenue currently to about 40% of the business by 2025. And price increases could kick in as early as next year.\nAmazingly, profit margins may keep expanding, even as operating costs rise with inflation.\nNike shares are up about 19% so far in 2021.\nApple (AAPL)\nVytautas Kielaitis/Shutterstock\nGlobal demand for Apple’s premium-priced hardware is growing, as are adoption rates for its high-margin Apple services.\nStrong brand identity, user friendliness, and a wide range of fully integrated products are powerful attributes that aren’t going away any time soon.\nCustomers just can’t afford to live outside the Apple ecosystem. That gives the tech giant more freedom to play with pricing as inflation spikes.\nThe company’s latest M1 chips, which will gradually replace Intel’s CPUs in every single Mac, underscore its commitment to constant innovation.\nApple’s ability to pass rising costs to a global consumer base without significant loss of sales volumes is undeniable.\nWarren Buffett has allowed Apple to grow to 40% of Berkshire Hathaway’s investments portfolio for good reason: The business just keeps growing profits through all economic cycles.\nApple is up about 13% year to date and trades at nearly $150 per share. But if you’re on the fence about jumping in at the current level, some apps might give you a free share of Apple just for signing up.\nLevi Strauss & Co. (LEVI)\ndean bertoncelj/Shutterstock\nA market leader in the denim business, Levi Strauss has been firing on all cylinders of late.\nSpecifically, its well-known brand and a flexible business model have enabled management to grow the top line without sacrificing pricing power.\nIn the most recent quarter, revenue increased 41% while adjusted gross margin improved 390 basis points to 57.5%.\nIn fact, management proactively started adjusting its pricing for inflation back in 2020.\nThe company also sources raw materials from 24 different countries. And that kind of supply chain diversification provides Levi Strauss with plenty of flexibility during times of crisis.\nLevi shares are up more than 30% in 2021.\nThe ultimate 'forever asset'?\nMNStudio/Shutterstock\nWarren Buffett once said that his favorite holding period is forever.\nBut forever is a long time, and since companies rise and fall, growing your wealth by never selling a share may not be the best strategy.\nBut there might be one inflation safe haven that's worth holding forever — U.S. farmland.\nNo matter how high or fast consumer prices climb, people still need to eat. And it just so happens that Buffett’s good friend Bill Gates is America’s largest private owner of farmland.\nThese days, new platforms allow you to invest in U.S. farmland by taking stake in a farm of your choice.\nYou’ll earn cash income from the leasing fees and crop sales. And of course, you’ll benefit from any long-term appreciation on top of that.\nThis article provides information only and should not be construed as advice. It is provided without warranty of any kind.","news_type":1,"symbols_score_info":{"BRK.B":0.9,"NKE":0.9,"BRK.A":0.9,"LEVI":0.9,"AAPL":0.9,"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":2406,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":858555766,"gmtCreate":1635089316480,"gmtModify":1635089316781,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Price to increase?","listText":"Price to increase?","text":"Price to increase?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/858555766","repostId":"1100055241","repostType":4,"repost":{"id":"1100055241","kind":"news","pubTimestamp":1635040192,"share":"https://www.laohu8.com/m/news/1100055241?lang=zh_CN&edition=full","pubTime":"2021-10-24 09:49","market":"us","language":"en","title":"Intel: Good Value Or Value Trap?<blockquote>英特尔：良好的价值还是价值陷阱？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1100055241","media":"Seeking Alpha","summary":"Intel had a mixed earnings report that sent some investors running for the hills.The company beat earnings and actually raised guidance for 2021, but they signaled that supply chain issues remain and profitability in 2022 will be lower.After the sell-off, is Intel a good value or a value trap?The waters have been pretty rough for Intel Corp.  investors over the past few years.It seems like every time the sun comes out...there is another storm right around the corner.As highlighted on the earning","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Intel had a mixed earnings report&nbsp;that sent some investors running for the hills.</li>  <li>The company beat earnings and actually raised guidance for 2021, but they signaled that supply chain issues remain and profitability in 2022 will be lower.</li>  <li>After the sell-off, is Intel a good value or a value trap?</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c02609041d90c055d66b217f06706d28\" tg-width=\"1536\" tg-height=\"1022\" referrerpolicy=\"no-referrer\"><span>4kodiak/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>英特尔的盈利报告好坏参半，让一些投资者纷纷逃亡。</li><li>该公司的盈利超出预期，实际上提高了2021年的指引，但他们暗示供应链问题仍然存在，2022年的盈利能力将会较低。</li><li>抛售之后，英特尔是好价值还是价值陷阱？</li></ul><p class=\"t-img-caption\"><span>4kodiak/iStock未通过Getty Images发布</span></p></blockquote></p><p> The waters have been pretty rough for Intel Corp. (INTC) investors over the past few years.</p><p><blockquote>过去几年，英特尔公司(INTC)投资者的处境相当艰难。</blockquote></p><p> It seems like every time the sun comes out...there is another storm right around the corner.</p><p><blockquote>好像每次太阳出来......又有一场暴风雨即将来临。</blockquote></p><p> As highlighted on the earnings call last night, the next \"storm\" brewing for Intel is continued supply chain issues (component shortages in the PC business) and reduced near-term profitability from rising capital expenditure needs, which has sent the stock plummeting 11% this morning into the abyss.</p><p><blockquote>正如昨晚财报看涨期权所强调的那样，英特尔酝酿的下一场“风暴”是持续的供应链问题（PC业务的零部件短缺）以及资本支出需求上升导致的近期盈利能力下降，这导致该股暴跌11%今天早上坠入深渊。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5bd612f6f25b6e86d7a72b38440d513f\" tg-width=\"640\" tg-height=\"449\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> However, buying the dips has actually been pretty lucrative in the recent past...if, of course, you were lucky enough to fade the rallies.</p><p><blockquote>然而，在最近的过去，逢低买入实际上是相当有利可图的……当然，如果你足够幸运，可以淡化涨势。</blockquote></p><p> To be fair, Intel has had its fair share of challenges this year, despite general tailwinds in the industry (i.e., chip demand far outpacing supply).</p><p><blockquote>公平地说，尽管行业普遍有利（即芯片需求远远超过供应），但英特尔今年仍面临着相当多的挑战。</blockquote></p><p> Specifically, Intel has had some well-documented manufacturing blunders that have caused major delays and loss of some market share...mainly to Advanced Micro Devices (AMD).</p><p><blockquote>具体来说，英特尔犯了一些有据可查的制造错误，导致了重大延误和一些市场份额的损失……主要是超微设备公司（AMD）。</blockquote></p><p> This has triggered concern amongst investors that the stock may be a potential \"value trap\" now.</p><p><blockquote>这引发了投资者的担忧，即该股现在可能是一个潜在的“价值陷阱”。</blockquote></p><p> All that said, Intel is dedicated to spending $25 billion to $28 billion in 2022 and just broke ground on some new fabs.</p><p><blockquote>尽管如此，英特尔致力于在2022年花费250亿至280亿美元，并且刚刚破土动工建设了一些新晶圆厂。</blockquote></p><p> Personally, I don't think we are anywhere near peak demand for chips and I believe that Intel's fabrication capabilities are (and will continue to be) a huge advantage for the company for years to come.</p><p><blockquote>就我个人而言，我认为我们还没有接近芯片需求的峰值，我相信英特尔的制造能力在未来几年是（并将继续是）该公司的巨大优势。</blockquote></p><p> So how can we structure a trade to take advantage of the upside potential in the stock (after this pullback) while also protecting ourselves from more near-term downside (if any)?</p><p><blockquote>那么，我们如何构建交易来利用股票的上涨潜力（在这次回调之后），同时保护自己免受近期更多下跌（如果有的话）的影响呢？</blockquote></p><p> <b>It's a perfect situation for a \"Triple Play\" trade!</b></p><p><blockquote><b>这是一个“三网融合”交易的完美局面！</b></blockquote></p><p> Intel Corp.</p><p><blockquote>英特尔公司。</blockquote></p><p> <b>Sector/Industry:</b>Technology/Semiconductors</p><p><blockquote><b>部门/行业：</b>科技/半导体</blockquote></p><p>   Intel is the world's largest chipmaker. It designs and manufactures microprocessors for the global personal computer and data center markets. Intel pioneered the x86 architecture for microprocessors. It was the prime proponent of Moore's Law for advances in semiconductor manufacturing, though the firm has recently faced manufacturing delays. While Intel's server processor business has benefited from the shift to the cloud, the firm has also been expanding into new adjacencies as the personal computer market has stagnated. These include areas such as the Internet of Things, artificial intelligence, and automotive. Intel has been active on the merger and acquisitions front, acquiring Altera, Mobileye, and Habana Labs in order to bolster these efforts in non-PC arenas.  <i>Source: YCharts</i></p><p><blockquote>英特尔是全球最大的芯片制造商。它为全球个人电脑和数据中心市场设计和制造微处理器。英特尔开创了微处理器x86架构。它是半导体制造进步摩尔定律的主要支持者，尽管该公司最近面临制造延误。虽然英特尔的服务器处理器业务受益于向云的转变，但随着个人电脑市场停滞不前，该公司也一直在向新的领域扩张。其中包括物联网、人工智能和汽车等领域。英特尔在并购方面一直很活跃，收购了Altera、Mobileye和Habana Labs，以加强这些在非PC领域的努力。<i>资料来源：YCharts</i></blockquote></p><p> <b>Valuation/Upside Potential</b></p><p><blockquote><b>估值/上涨潜力</b></blockquote></p><p> Intel looks extremely attractive from a valuation standpoint and is currently trading at a decent discount to all of its long-term valuation metrics (hence the high Value Ranking of 10).</p><p><blockquote>从估值的角度来看，英特尔看起来极具吸引力，目前的交易价格相对于其所有长期估值指标都有相当大的折扣（因此价值排名为10）。</blockquote></p><p> Specifically, Intel is trading at a nice discount to its historical P/E multiple on a forward basis (10.6x 2021 earnings).<i>Note that the company actually just increased its guidance for fiscal 2021 earnings to $5.28 per share</i>.</p><p><blockquote>具体来说，英特尔的预期市盈率较其历史市盈率（2021年收益的10.6倍）有很大折扣。<i>请注意，该公司实际上刚刚将2021财年收益指引上调至每股5.28美元</i>.</blockquote></p><p> That said, as supply chain worries decrease over time, we definitely think there could be some room for margin expansion in the future.</p><p><blockquote>也就是说，随着供应链担忧随着时间的推移而减少，我们绝对认为未来可能有一些利润率扩张的空间。</blockquote></p><p> If you put just a 12x-14x multiple on consensus forward earnings of $5.28 per share for FYE 2021, that would equate to a $63.00- $73.00 stock price (representing 25%-45% upside from current levels).</p><p><blockquote>如果您对2021财年每股5.28美元的共识预期收益仅进行12-14倍的倍数，则相当于股价为63.00-73.00美元（较当前水平上涨25%-45%）。</blockquote></p><p> Although it probably won't get there in a straight line...</p><p><blockquote>虽然它可能不会直线到达那里...</blockquote></p><p> <b>\"Triple Play\" Trade Analysis</b></p><p><blockquote><b>“三网融合”贸易分析</b></blockquote></p><p> A \"Triple Play\" trade involves simultaneously selling a cash-secured put and a covered call on a stock that you own.</p><p><blockquote>“三网融合”交易涉及同时出售您拥有的股票的现金担保看跌期权和备兑看涨期权。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7e3af23e0208929d569a6e62a12a9607\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Option Income Advisor</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：期权收入顾问</span></p></blockquote></p><p> Note that if you don't currently own INTC stock, you will want to buy it before you write the covered call.</p><p><blockquote>请注意，如果您目前不拥有INTC股票，您会希望在撰写担保看涨期权之前购买它。</blockquote></p><p> This trade will allow you to take advantage of the upside potential in the stock while also protecting some of the near-term downside (if any).</p><p><blockquote>这种交易将使您能够利用股票的上涨潜力，同时也保护一些近期的下跌（如果有的话）。</blockquote></p><p> <b>Step 1: Sell Cash-Secured Puts (50% of position size)</b></p><p><blockquote><b>第1步：卖出现金担保看跌期权（头寸规模的50%）</b></blockquote></p><p></p><p> The first step of the Triple Play trade is to sell a cash-secured put on the stock for 50% of your target position size. For example, if you wanted to own 400 shares of INTC... you would sell 2 cash-secured put contract, which represents 200 shares of stock.</p><p><blockquote>三网融合交易的第一步是以目标头寸规模的50%出售股票的现金担保看跌期权。例如，如果您想拥有400股INTC股票...您将出售2份现金担保看跌合约，代表200股股票。</blockquote></p><p> The three main data points we look at when analyzing a cash-secured put trade are:</p><p><blockquote>在分析现金担保看跌交易时，我们会考虑三个主要数据点：</blockquote></p><p> <ul>  <li>Premium Yield % (or Average Monthly Yield %): Measure of expected return on capital assuming that the option expires worthless (out-of-the-money).<i>Assumes that the option is fully cash secured.</i></li>  <li>Margin-of-Safety %: Measure of downside protection or the percentage that the underlying stock could decline and would still allow you to break even on the option trade.</li>  <li>Delta: A good proxy for the probability that the put option will finish in-the-money.</li> </ul> <i>Note that there's always a negative correlation between Premium Yield and Margin of Safety: The higher the Premium Yield for a given strike month, the lower the Margin of Safety.</i></p><p><blockquote><ul><li>溢价收益率%（或平均月收益率%）：假设期权到期时一文不值（价外）的预期资本回报率的衡量标准。<i>假设期权完全以现金抵押。</i></li><li>安全边际%：下行保护的衡量标准或标的股票可能下跌但仍能让您在期权交易中实现收支平衡的百分比。</li><li>Delta：很好地代表看跌期权以价内结束的概率。</li></ul><i>请注意，保费收益率和安全边际之间总是呈负相关：给定执行月份的保费收益率越高，安全边际越低。</i></blockquote></p><p> <i>Investors always should be honest with themselves about their risk tolerance. Selling CSPs can be adapted to suit your needs.</i></p><p><blockquote><i>投资者应该始终对自己的风险承受能力诚实。销售CSP可以根据您的需求进行调整。</i></blockquote></p><p> As discussed in the video, we like the $45.00-$50.00 range for INTC in the near term. So we like the following cash-secured put:</p><p><blockquote>正如视频中所讨论的，我们喜欢INTC短期内的45.00美元至50.00美元的范围。因此，我们喜欢以下现金担保看跌期权：</blockquote></p><p> <i><b>INTC Nov 19th $47.50.00 Put (28 days until expiration)</b></i></p><p><blockquote><i><b>INTC 11月19日$47.50.00看跌期权（距离到期28天）</b></i></blockquote></p><p> <ul>  <li>Option Premium: ~$0.58 premium</li>  <li>Average Monthly Yield %: 1.3% (15.6% annualized)</li>  <li>Margin-of-Safety %: 4.2%</li>  <li>Delta: 28</li> </ul> <b>Step 2: Buy the Stock (50% of position size)</b></p><p><blockquote><ul><li>期权溢价：约0.58美元溢价</li><li>平均月收益率%：1.3%（年化15.6%）</li><li>安全裕度%：4.2%</li><li>德尔塔：28</li></ul><b>第二步：买入股票（头寸规模的50%）</b></blockquote></p><p> <i>Note: At the time of publication, INTC was trading at $49.60. If you already own the stock, you can skip to Step 3.</i></p><p><blockquote><i>注：截至发稿时，INTC的交易价格为49.60美元。如果您已经拥有该股票，您可以跳到第3步。</i></blockquote></p><p> The second step of the Triple Play is to buy the stock (50% of your target position size). For example, if you wanted to own 400 shares of INTC... you would buy 200 shares of stock.</p><p><blockquote>三网融合的第二步是买入股票（目标持仓规模的50%）。例如，如果您想拥有400股INTC股票...你会买200股股票。</blockquote></p><p> <b>Step 3: Sell Covered Calls On Your Stock Position (*optional*)</b></p><p><blockquote><b>第3步：出售股票头寸的备兑评级（*可选*）</b></blockquote></p><p> A covered call strategy will help generate some short-term income, maintain some upside exposure, and mitigate some downside risk.</p><p><blockquote>备兑看涨期权策略将有助于产生一些短期收入，维持一些上行风险，并减轻一些下行风险。</blockquote></p><p> With a covered call, you are agreeing to sell your stock at a higher price (your call option strike price) but you get to keep your call option premium either way.</p><p><blockquote>有了备兑看涨期权，您同意以更高的价格（您的看涨期权期权执行价格）出售您的股票，但无论如何您都可以保留您的看涨期权期权溢价。</blockquote></p><p> As discussed in the video, since we like the upside potential in the near term with INTC, you will want to give yourself some room for the stock to run.<b>So we would actually recommend waiting for the stock to trade a little higher before selling covered calls.</b></p><p><blockquote>正如视频中所讨论的，由于我们喜欢INTC近期的上涨潜力，因此您需要给自己一些股票运行的空间。<b>因此，我们实际上建议等待股票交易价格略高，然后再出售备兑评级。</b></blockquote></p><p> That said, if you wanted to execute the covered calls today, I would certainly consider taking less premium income to preserve more potential upside profit. For example, the $53.00 call would give you an extra 0.5% of income per month (6.0% annualized)...which would essentially triple your dividend yield on the stock!</p><p><blockquote>也就是说，如果您今天想执行承保的评级，我肯定会考虑减少保费收入以保留更多潜在的上行利润。例如，53.00美元的看涨期权将为您每月额外提供0.5%的收入（年化6.0%）...这基本上将使您的股票股息收益率增加两倍！</blockquote></p><p> <i><b>INTC Nov 19th $53.00 Call (28 days until expiration)</b></i></p><p><blockquote><i><b>INTC 11月19日53.00美元看涨期权（距离到期还有28天）</b></i></blockquote></p><p> <ul>  <li>Option Premium: ~$0.25 premium</li>  <li>Average Monthly Yield %: 0.5% (6.0% annualized)</li>  <li>Upside Profit %: 7.4%</li>  <li>Delta: 15</li> </ul> <b>Conclusion</b></p><p><blockquote><ul><li>期权溢价：约0.25美元溢价</li><li>平均月收益率%：0.5%（年化6.0%）</li><li>上升利润百分比：7.4%</li><li>德尔塔：15</li></ul><b>结论</b></blockquote></p><p> This Triple Play trade will allow you to take advantage of the upside potential in INTC stock while also giving you some downside cushion if shares trade lower in the near term. As the covered calls and cash-secured puts expire, you can rinse and repeat the Triple Play trade!</p><p><blockquote>这种三网融合交易将使您能够利用INTC股票的上涨潜力，同时如果股价短期走低，也可以为您提供一些下行缓冲。当备兑评级和现金担保看跌期权到期时，您可以冲洗并重复三网融合交易！</blockquote></p><p></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>Intel: Good Value Or Value Trap?<blockquote>英特尔：良好的价值还是价值陷阱？</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\">\nIntel: Good Value Or Value Trap?<blockquote>英特尔：良好的价值还是价值陷阱？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-10-24 09:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Intel had a mixed earnings report&nbsp;that sent some investors running for the hills.</li>  <li>The company beat earnings and actually raised guidance for 2021, but they signaled that supply chain issues remain and profitability in 2022 will be lower.</li>  <li>After the sell-off, is Intel a good value or a value trap?</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c02609041d90c055d66b217f06706d28\" tg-width=\"1536\" tg-height=\"1022\" referrerpolicy=\"no-referrer\"><span>4kodiak/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>英特尔的盈利报告好坏参半，让一些投资者纷纷逃亡。</li><li>该公司的盈利超出预期，实际上提高了2021年的指引，但他们暗示供应链问题仍然存在，2022年的盈利能力将会较低。</li><li>抛售之后，英特尔是好价值还是价值陷阱？</li></ul><p class=\"t-img-caption\"><span>4kodiak/iStock未通过Getty Images发布</span></p></blockquote></p><p> The waters have been pretty rough for Intel Corp. (INTC) investors over the past few years.</p><p><blockquote>过去几年，英特尔公司(INTC)投资者的处境相当艰难。</blockquote></p><p> It seems like every time the sun comes out...there is another storm right around the corner.</p><p><blockquote>好像每次太阳出来......又有一场暴风雨即将来临。</blockquote></p><p> As highlighted on the earnings call last night, the next \"storm\" brewing for Intel is continued supply chain issues (component shortages in the PC business) and reduced near-term profitability from rising capital expenditure needs, which has sent the stock plummeting 11% this morning into the abyss.</p><p><blockquote>正如昨晚财报看涨期权所强调的那样，英特尔酝酿的下一场“风暴”是持续的供应链问题（PC业务的零部件短缺）以及资本支出需求上升导致的近期盈利能力下降，这导致该股暴跌11%今天早上坠入深渊。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5bd612f6f25b6e86d7a72b38440d513f\" tg-width=\"640\" tg-height=\"449\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> However, buying the dips has actually been pretty lucrative in the recent past...if, of course, you were lucky enough to fade the rallies.</p><p><blockquote>然而，在最近的过去，逢低买入实际上是相当有利可图的……当然，如果你足够幸运，可以淡化涨势。</blockquote></p><p> To be fair, Intel has had its fair share of challenges this year, despite general tailwinds in the industry (i.e., chip demand far outpacing supply).</p><p><blockquote>公平地说，尽管行业普遍有利（即芯片需求远远超过供应），但英特尔今年仍面临着相当多的挑战。</blockquote></p><p> Specifically, Intel has had some well-documented manufacturing blunders that have caused major delays and loss of some market share...mainly to Advanced Micro Devices (AMD).</p><p><blockquote>具体来说，英特尔犯了一些有据可查的制造错误，导致了重大延误和一些市场份额的损失……主要是超微设备公司（AMD）。</blockquote></p><p> This has triggered concern amongst investors that the stock may be a potential \"value trap\" now.</p><p><blockquote>这引发了投资者的担忧，即该股现在可能是一个潜在的“价值陷阱”。</blockquote></p><p> All that said, Intel is dedicated to spending $25 billion to $28 billion in 2022 and just broke ground on some new fabs.</p><p><blockquote>尽管如此，英特尔致力于在2022年花费250亿至280亿美元，并且刚刚破土动工建设了一些新晶圆厂。</blockquote></p><p> Personally, I don't think we are anywhere near peak demand for chips and I believe that Intel's fabrication capabilities are (and will continue to be) a huge advantage for the company for years to come.</p><p><blockquote>就我个人而言，我认为我们还没有接近芯片需求的峰值，我相信英特尔的制造能力在未来几年是（并将继续是）该公司的巨大优势。</blockquote></p><p> So how can we structure a trade to take advantage of the upside potential in the stock (after this pullback) while also protecting ourselves from more near-term downside (if any)?</p><p><blockquote>那么，我们如何构建交易来利用股票的上涨潜力（在这次回调之后），同时保护自己免受近期更多下跌（如果有的话）的影响呢？</blockquote></p><p> <b>It's a perfect situation for a \"Triple Play\" trade!</b></p><p><blockquote><b>这是一个“三网融合”交易的完美局面！</b></blockquote></p><p> Intel Corp.</p><p><blockquote>英特尔公司。</blockquote></p><p> <b>Sector/Industry:</b>Technology/Semiconductors</p><p><blockquote><b>部门/行业：</b>科技/半导体</blockquote></p><p>   Intel is the world's largest chipmaker. It designs and manufactures microprocessors for the global personal computer and data center markets. Intel pioneered the x86 architecture for microprocessors. It was the prime proponent of Moore's Law for advances in semiconductor manufacturing, though the firm has recently faced manufacturing delays. While Intel's server processor business has benefited from the shift to the cloud, the firm has also been expanding into new adjacencies as the personal computer market has stagnated. These include areas such as the Internet of Things, artificial intelligence, and automotive. Intel has been active on the merger and acquisitions front, acquiring Altera, Mobileye, and Habana Labs in order to bolster these efforts in non-PC arenas.  <i>Source: YCharts</i></p><p><blockquote>英特尔是全球最大的芯片制造商。它为全球个人电脑和数据中心市场设计和制造微处理器。英特尔开创了微处理器x86架构。它是半导体制造进步摩尔定律的主要支持者，尽管该公司最近面临制造延误。虽然英特尔的服务器处理器业务受益于向云的转变，但随着个人电脑市场停滞不前，该公司也一直在向新的领域扩张。其中包括物联网、人工智能和汽车等领域。英特尔在并购方面一直很活跃，收购了Altera、Mobileye和Habana Labs，以加强这些在非PC领域的努力。<i>资料来源：YCharts</i></blockquote></p><p> <b>Valuation/Upside Potential</b></p><p><blockquote><b>估值/上涨潜力</b></blockquote></p><p> Intel looks extremely attractive from a valuation standpoint and is currently trading at a decent discount to all of its long-term valuation metrics (hence the high Value Ranking of 10).</p><p><blockquote>从估值的角度来看，英特尔看起来极具吸引力，目前的交易价格相对于其所有长期估值指标都有相当大的折扣（因此价值排名为10）。</blockquote></p><p> Specifically, Intel is trading at a nice discount to its historical P/E multiple on a forward basis (10.6x 2021 earnings).<i>Note that the company actually just increased its guidance for fiscal 2021 earnings to $5.28 per share</i>.</p><p><blockquote>具体来说，英特尔的预期市盈率较其历史市盈率（2021年收益的10.6倍）有很大折扣。<i>请注意，该公司实际上刚刚将2021财年收益指引上调至每股5.28美元</i>.</blockquote></p><p> That said, as supply chain worries decrease over time, we definitely think there could be some room for margin expansion in the future.</p><p><blockquote>也就是说，随着供应链担忧随着时间的推移而减少，我们绝对认为未来可能有一些利润率扩张的空间。</blockquote></p><p> If you put just a 12x-14x multiple on consensus forward earnings of $5.28 per share for FYE 2021, that would equate to a $63.00- $73.00 stock price (representing 25%-45% upside from current levels).</p><p><blockquote>如果您对2021财年每股5.28美元的共识预期收益仅进行12-14倍的倍数，则相当于股价为63.00-73.00美元（较当前水平上涨25%-45%）。</blockquote></p><p> Although it probably won't get there in a straight line...</p><p><blockquote>虽然它可能不会直线到达那里...</blockquote></p><p> <b>\"Triple Play\" Trade Analysis</b></p><p><blockquote><b>“三网融合”贸易分析</b></blockquote></p><p> A \"Triple Play\" trade involves simultaneously selling a cash-secured put and a covered call on a stock that you own.</p><p><blockquote>“三网融合”交易涉及同时出售您拥有的股票的现金担保看跌期权和备兑看涨期权。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7e3af23e0208929d569a6e62a12a9607\" tg-width=\"640\" tg-height=\"360\" referrerpolicy=\"no-referrer\"><span>Source: Option Income Advisor</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：期权收入顾问</span></p></blockquote></p><p> Note that if you don't currently own INTC stock, you will want to buy it before you write the covered call.</p><p><blockquote>请注意，如果您目前不拥有INTC股票，您会希望在撰写担保看涨期权之前购买它。</blockquote></p><p> This trade will allow you to take advantage of the upside potential in the stock while also protecting some of the near-term downside (if any).</p><p><blockquote>这种交易将使您能够利用股票的上涨潜力，同时也保护一些近期的下跌（如果有的话）。</blockquote></p><p> <b>Step 1: Sell Cash-Secured Puts (50% of position size)</b></p><p><blockquote><b>第1步：卖出现金担保看跌期权（头寸规模的50%）</b></blockquote></p><p></p><p> The first step of the Triple Play trade is to sell a cash-secured put on the stock for 50% of your target position size. For example, if you wanted to own 400 shares of INTC... you would sell 2 cash-secured put contract, which represents 200 shares of stock.</p><p><blockquote>三网融合交易的第一步是以目标头寸规模的50%出售股票的现金担保看跌期权。例如，如果您想拥有400股INTC股票...您将出售2份现金担保看跌合约，代表200股股票。</blockquote></p><p> The three main data points we look at when analyzing a cash-secured put trade are:</p><p><blockquote>在分析现金担保看跌交易时，我们会考虑三个主要数据点：</blockquote></p><p> <ul>  <li>Premium Yield % (or Average Monthly Yield %): Measure of expected return on capital assuming that the option expires worthless (out-of-the-money).<i>Assumes that the option is fully cash secured.</i></li>  <li>Margin-of-Safety %: Measure of downside protection or the percentage that the underlying stock could decline and would still allow you to break even on the option trade.</li>  <li>Delta: A good proxy for the probability that the put option will finish in-the-money.</li> </ul> <i>Note that there's always a negative correlation between Premium Yield and Margin of Safety: The higher the Premium Yield for a given strike month, the lower the Margin of Safety.</i></p><p><blockquote><ul><li>溢价收益率%（或平均月收益率%）：假设期权到期时一文不值（价外）的预期资本回报率的衡量标准。<i>假设期权完全以现金抵押。</i></li><li>安全边际%：下行保护的衡量标准或标的股票可能下跌但仍能让您在期权交易中实现收支平衡的百分比。</li><li>Delta：很好地代表看跌期权以价内结束的概率。</li></ul><i>请注意，保费收益率和安全边际之间总是呈负相关：给定执行月份的保费收益率越高，安全边际越低。</i></blockquote></p><p> <i>Investors always should be honest with themselves about their risk tolerance. Selling CSPs can be adapted to suit your needs.</i></p><p><blockquote><i>投资者应该始终对自己的风险承受能力诚实。销售CSP可以根据您的需求进行调整。</i></blockquote></p><p> As discussed in the video, we like the $45.00-$50.00 range for INTC in the near term. So we like the following cash-secured put:</p><p><blockquote>正如视频中所讨论的，我们喜欢INTC短期内的45.00美元至50.00美元的范围。因此，我们喜欢以下现金担保看跌期权：</blockquote></p><p> <i><b>INTC Nov 19th $47.50.00 Put (28 days until expiration)</b></i></p><p><blockquote><i><b>INTC 11月19日$47.50.00看跌期权（距离到期28天）</b></i></blockquote></p><p> <ul>  <li>Option Premium: ~$0.58 premium</li>  <li>Average Monthly Yield %: 1.3% (15.6% annualized)</li>  <li>Margin-of-Safety %: 4.2%</li>  <li>Delta: 28</li> </ul> <b>Step 2: Buy the Stock (50% of position size)</b></p><p><blockquote><ul><li>期权溢价：约0.58美元溢价</li><li>平均月收益率%：1.3%（年化15.6%）</li><li>安全裕度%：4.2%</li><li>德尔塔：28</li></ul><b>第二步：买入股票（头寸规模的50%）</b></blockquote></p><p> <i>Note: At the time of publication, INTC was trading at $49.60. If you already own the stock, you can skip to Step 3.</i></p><p><blockquote><i>注：截至发稿时，INTC的交易价格为49.60美元。如果您已经拥有该股票，您可以跳到第3步。</i></blockquote></p><p> The second step of the Triple Play is to buy the stock (50% of your target position size). For example, if you wanted to own 400 shares of INTC... you would buy 200 shares of stock.</p><p><blockquote>三网融合的第二步是买入股票（目标持仓规模的50%）。例如，如果您想拥有400股INTC股票...你会买200股股票。</blockquote></p><p> <b>Step 3: Sell Covered Calls On Your Stock Position (*optional*)</b></p><p><blockquote><b>第3步：出售股票头寸的备兑评级（*可选*）</b></blockquote></p><p> A covered call strategy will help generate some short-term income, maintain some upside exposure, and mitigate some downside risk.</p><p><blockquote>备兑看涨期权策略将有助于产生一些短期收入，维持一些上行风险，并减轻一些下行风险。</blockquote></p><p> With a covered call, you are agreeing to sell your stock at a higher price (your call option strike price) but you get to keep your call option premium either way.</p><p><blockquote>有了备兑看涨期权，您同意以更高的价格（您的看涨期权期权执行价格）出售您的股票，但无论如何您都可以保留您的看涨期权期权溢价。</blockquote></p><p> As discussed in the video, since we like the upside potential in the near term with INTC, you will want to give yourself some room for the stock to run.<b>So we would actually recommend waiting for the stock to trade a little higher before selling covered calls.</b></p><p><blockquote>正如视频中所讨论的，由于我们喜欢INTC近期的上涨潜力，因此您需要给自己一些股票运行的空间。<b>因此，我们实际上建议等待股票交易价格略高，然后再出售备兑评级。</b></blockquote></p><p> That said, if you wanted to execute the covered calls today, I would certainly consider taking less premium income to preserve more potential upside profit. For example, the $53.00 call would give you an extra 0.5% of income per month (6.0% annualized)...which would essentially triple your dividend yield on the stock!</p><p><blockquote>也就是说，如果您今天想执行承保的评级，我肯定会考虑减少保费收入以保留更多潜在的上行利润。例如，53.00美元的看涨期权将为您每月额外提供0.5%的收入（年化6.0%）...这基本上将使您的股票股息收益率增加两倍！</blockquote></p><p> <i><b>INTC Nov 19th $53.00 Call (28 days until expiration)</b></i></p><p><blockquote><i><b>INTC 11月19日53.00美元看涨期权（距离到期还有28天）</b></i></blockquote></p><p> <ul>  <li>Option Premium: ~$0.25 premium</li>  <li>Average Monthly Yield %: 0.5% (6.0% annualized)</li>  <li>Upside Profit %: 7.4%</li>  <li>Delta: 15</li> </ul> <b>Conclusion</b></p><p><blockquote><ul><li>期权溢价：约0.25美元溢价</li><li>平均月收益率%：0.5%（年化6.0%）</li><li>上升利润百分比：7.4%</li><li>德尔塔：15</li></ul><b>结论</b></blockquote></p><p> This Triple Play trade will allow you to take advantage of the upside potential in INTC stock while also giving you some downside cushion if shares trade lower in the near term. As the covered calls and cash-secured puts expire, you can rinse and repeat the Triple Play trade!</p><p><blockquote>这种三网融合交易将使您能够利用INTC股票的上涨潜力，同时如果股价短期走低，也可以为您提供一些下行缓冲。当备兑评级和现金担保看跌期权到期时，您可以冲洗并重复三网融合交易！</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4461530-intel-intc-stock-good-value-or-value-trap\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"INTC":"英特尔"},"source_url":"https://seekingalpha.com/article/4461530-intel-intc-stock-good-value-or-value-trap","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100055241","content_text":"Summary\n\nIntel had a mixed earnings report that sent some investors running for the hills.\nThe company beat earnings and actually raised guidance for 2021, but they signaled that supply chain issues remain and profitability in 2022 will be lower.\nAfter the sell-off, is Intel a good value or a value trap?\n\n4kodiak/iStock Unreleased via Getty Images\nThe waters have been pretty rough for Intel Corp. (INTC) investors over the past few years.\nIt seems like every time the sun comes out...there is another storm right around the corner.\nAs highlighted on the earnings call last night, the next \"storm\" brewing for Intel is continued supply chain issues (component shortages in the PC business) and reduced near-term profitability from rising capital expenditure needs, which has sent the stock plummeting 11% this morning into the abyss.\n\nHowever, buying the dips has actually been pretty lucrative in the recent past...if, of course, you were lucky enough to fade the rallies.\nTo be fair, Intel has had its fair share of challenges this year, despite general tailwinds in the industry (i.e., chip demand far outpacing supply).\nSpecifically, Intel has had some well-documented manufacturing blunders that have caused major delays and loss of some market share...mainly to Advanced Micro Devices (AMD).\nThis has triggered concern amongst investors that the stock may be a potential \"value trap\" now.\nAll that said, Intel is dedicated to spending $25 billion to $28 billion in 2022 and just broke ground on some new fabs.\nPersonally, I don't think we are anywhere near peak demand for chips and I believe that Intel's fabrication capabilities are (and will continue to be) a huge advantage for the company for years to come.\nSo how can we structure a trade to take advantage of the upside potential in the stock (after this pullback) while also protecting ourselves from more near-term downside (if any)?\nIt's a perfect situation for a \"Triple Play\" trade!\nIntel Corp.\nSector/Industry:Technology/Semiconductors\n\n Intel is the world's largest chipmaker. It designs and manufactures microprocessors for the global personal computer and data center markets. Intel pioneered the x86 architecture for microprocessors. It was the prime proponent of Moore's Law for advances in semiconductor manufacturing, though the firm has recently faced manufacturing delays. While Intel's server processor business has benefited from the shift to the cloud, the firm has also been expanding into new adjacencies as the personal computer market has stagnated. These include areas such as the Internet of Things, artificial intelligence, and automotive. Intel has been active on the merger and acquisitions front, acquiring Altera, Mobileye, and Habana Labs in order to bolster these efforts in non-PC arenas.\n\nSource: YCharts\nValuation/Upside Potential\nIntel looks extremely attractive from a valuation standpoint and is currently trading at a decent discount to all of its long-term valuation metrics (hence the high Value Ranking of 10).\nSpecifically, Intel is trading at a nice discount to its historical P/E multiple on a forward basis (10.6x 2021 earnings).Note that the company actually just increased its guidance for fiscal 2021 earnings to $5.28 per share.\nThat said, as supply chain worries decrease over time, we definitely think there could be some room for margin expansion in the future.\nIf you put just a 12x-14x multiple on consensus forward earnings of $5.28 per share for FYE 2021, that would equate to a $63.00- $73.00 stock price (representing 25%-45% upside from current levels).\nAlthough it probably won't get there in a straight line...\n\"Triple Play\" Trade Analysis\nA \"Triple Play\" trade involves simultaneously selling a cash-secured put and a covered call on a stock that you own.\nSource: Option Income Advisor\nNote that if you don't currently own INTC stock, you will want to buy it before you write the covered call.\nThis trade will allow you to take advantage of the upside potential in the stock while also protecting some of the near-term downside (if any).\nStep 1: Sell Cash-Secured Puts (50% of position size)\nThe first step of the Triple Play trade is to sell a cash-secured put on the stock for 50% of your target position size. For example, if you wanted to own 400 shares of INTC... you would sell 2 cash-secured put contract, which represents 200 shares of stock.\nThe three main data points we look at when analyzing a cash-secured put trade are:\n\nPremium Yield % (or Average Monthly Yield %): Measure of expected return on capital assuming that the option expires worthless (out-of-the-money).Assumes that the option is fully cash secured.\nMargin-of-Safety %: Measure of downside protection or the percentage that the underlying stock could decline and would still allow you to break even on the option trade.\nDelta: A good proxy for the probability that the put option will finish in-the-money.\n\nNote that there's always a negative correlation between Premium Yield and Margin of Safety: The higher the Premium Yield for a given strike month, the lower the Margin of Safety.\nInvestors always should be honest with themselves about their risk tolerance. Selling CSPs can be adapted to suit your needs.\nAs discussed in the video, we like the $45.00-$50.00 range for INTC in the near term. So we like the following cash-secured put:\nINTC Nov 19th $47.50.00 Put (28 days until expiration)\n\nOption Premium: ~$0.58 premium\nAverage Monthly Yield %: 1.3% (15.6% annualized)\nMargin-of-Safety %: 4.2%\nDelta: 28\n\nStep 2: Buy the Stock (50% of position size)\nNote: At the time of publication, INTC was trading at $49.60. If you already own the stock, you can skip to Step 3.\nThe second step of the Triple Play is to buy the stock (50% of your target position size). For example, if you wanted to own 400 shares of INTC... you would buy 200 shares of stock.\nStep 3: Sell Covered Calls On Your Stock Position (*optional*)\nA covered call strategy will help generate some short-term income, maintain some upside exposure, and mitigate some downside risk.\nWith a covered call, you are agreeing to sell your stock at a higher price (your call option strike price) but you get to keep your call option premium either way.\nAs discussed in the video, since we like the upside potential in the near term with INTC, you will want to give yourself some room for the stock to run.So we would actually recommend waiting for the stock to trade a little higher before selling covered calls.\nThat said, if you wanted to execute the covered calls today, I would certainly consider taking less premium income to preserve more potential upside profit. For example, the $53.00 call would give you an extra 0.5% of income per month (6.0% annualized)...which would essentially triple your dividend yield on the stock!\nINTC Nov 19th $53.00 Call (28 days until expiration)\n\nOption Premium: ~$0.25 premium\nAverage Monthly Yield %: 0.5% (6.0% annualized)\nUpside Profit %: 7.4%\nDelta: 15\n\nConclusion\nThis Triple Play trade will allow you to take advantage of the upside potential in INTC stock while also giving you some downside cushion if shares trade lower in the near term. As the covered calls and cash-secured puts expire, you can rinse and repeat the Triple Play trade!","news_type":1,"symbols_score_info":{"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":2290,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":825070481,"gmtCreate":1634182975464,"gmtModify":1634182975596,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Time to buy Inovio?","listText":"Time to buy Inovio?","text":"Time to buy Inovio?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/825070481","repostId":"2175518141","repostType":4,"isVote":1,"tweetType":1,"viewCount":2846,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":867702455,"gmtCreate":1633312056366,"gmtModify":1633312165628,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Time to buy or wait?","listText":"Time to buy or wait?","text":"Time to buy or wait?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/867702455","repostId":"1114921615","repostType":4,"repost":{"id":"1114921615","kind":"news","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":1633304045,"share":"https://www.laohu8.com/m/news/1114921615?lang=zh_CN&edition=full","pubTime":"2021-10-04 07:34","market":"us","language":"en","title":"Top Wall Street analysts picks these 5 stocks for the fourth quarter<blockquote>华尔街顶级分析师第四季度精选这5只股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1114921615","media":"Tiger Newspress","summary":"TipRanks is a financial data aggregator that uses its dynamic system like a radar, picking up what W","content":"<p>TipRanks is a financial data aggregator that uses its dynamic system like a radar, picking up what Wall Street’s analysts have to say about the current market atmosphere. The state of capital markets remains a tangled world of information for even savvy investors, but by using TipRanks’ unique tools, one can gain a clearer perspective on what the professionals are saying.</p><p><blockquote>TipRanks是一家金融数据聚合器，它像雷达一样使用其动态系统，获取华尔街分析师对当前市场氛围的看法。即使对于精明的投资者来说，资本市场的状况仍然是一个错综复杂的信息世界，但通过使用TipRanks的独特工具，人们可以更清晰地了解专业人士的言论。</blockquote></p><p> Let’s take a look at what their hypotheses are on these five stocks.</p><p><blockquote>我们来看看他们对这五只股票的假设是什么。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NKE\">耐克</a> </b></p><p><blockquote><b><a href=\"https://laohu8.com/S/NKE\">耐克</a></b></blockquote></p><p> If viewed correctly, short-term concerns have the potential to be transformed into long-term gains.</p><p><blockquote>如果正确看待，短期担忧有可能转化为长期收益。</blockquote></p><p> Nike(<b>NKE</b>) recently reported earnings, and while it showed increases in demand and strong underlying business fundamentals, the firm did admit to struggling with persisting supply chain issues. Sam Poser of Williams Trading, however, sees this as the time to open a bullish position. (SeeNike stock chartson TipRanks)</p><p><blockquote>耐克（<b>NKE</b>）最近公布了收益，虽然显示需求增加和强劲的潜在业务基本面，但该公司确实承认面临着持续存在的供应链问题。然而，Williams Trading的Sam Poser认为现在是建立看涨头寸的时候了。（参见TipRanks上的Nike股票图表）</blockquote></p><p> Poser rated the stock a Buy, and declared a price target of $196.</p><p><blockquote>Poser将该股评级为买入，并宣布目标价为196美元。</blockquote></p><p> The five-star analyst asserted that despite the supply chain challenges, “the global health of the Nike brand has never been better.” He perceives the headwinds to be of short-lived concern for investors and the company, and expects Nike to outperform its peers in both the near and distant future.</p><p><blockquote>这位五星级分析师断言，尽管面临供应链挑战，“耐克品牌的全球健康状况从未如此之好。”他认为投资者和公司对这些不利因素的担忧是短暂的，并预计耐克在不久的将来和遥远的将来都将跑赢同行。</blockquote></p><p> In its earnings call, Nike lowered its guidance expectations, but Poser calculates that the apparel retailer is on track to meet 2025 targets.</p><p><blockquote>在盈利看涨期权中，Nike降低了指导预期，但Poser计算出这家服装零售商有望实现2025年目标。</blockquote></p><p> The Covid-19 pandemic had initially dragged down brick and mortar store sales, but this metric has nearly rebounded to the status it held before the government-mandated lockdowns. In North America, in-store sales increased more than 50% quarter-over-quarter, indicating a “robust demand” for Nike merchandise.</p><p><blockquote>新冠肺炎疫情最初拖累了实体店的销售，但这一指标几乎已经反弹到政府强制封锁之前的水平。在北美，店内销售额环比增长超过50%，表明对耐克商品的“需求强劲”。</blockquote></p><p> In a pool of over 7,000 expert analysts, Poser is rated by TipRanks as No. 249. His stock ratings have earned him a success rate of 55%, and brought him an average return of 24.8%.</p><p><blockquote>在超过7,000名专家分析师中，Poser被TipRanks评为第249位。他的股票评级为他赢得了55%的成功率，并为他带来了24.8%的平均回报率。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/OTMO\">Otonomo Technologies Ltd</a> </b></p><p><blockquote><b><a href=\"https://laohu8.com/S/OTMO\">奥托诺莫科技有限公司</a></b></blockquote></p><p> For SaaS companies, big data is the name of the game.</p><p><blockquote>对于SaaS公司来说，大数据是游戏的名字。</blockquote></p><p> The power of processing billions of data points from millions of vehicles on the road has provided Otonomo Technologies (<b>OTMO</b>) with a promising business model. The data analytics firm recently went public, and analysts now see even more upside and opportunity for monetization of its product offerings. (SeeOtonomo stock analysison TipRanks)</p><p><blockquote>处理来自道路上数百万辆汽车的数十亿个数据点的能力为Otonomo Technologies（<b>奥特莫</b>）具有有前途的商业模式。这家数据分析公司最近上市，分析师现在看到了其产品货币化的更多上升空间和机会。（请参阅TipRanks上的Otonomo股票分析）</blockquote></p><p> One of those bullish analysts is Jack Andrews of Needham &amp; Co., who wrote thatOtonomooperates a “linchpin technology” that unlocks revenue for original equipment manufacturer and connected car investments.” From his calculations, the stock provides a “favorable risk/reward setup with material upside,” if it is successful in capturing its full potential.</p><p><blockquote>Needham&amp;Co.的杰克·安德鲁斯(Jack Andrews)就是这些看涨的分析师之一，他写道，自动驾驶运营着一项“关键技术”，可以为原始设备制造商和联网汽车投资带来收入。”根据他的计算，如果该股成功发挥其全部潜力，它将提供“具有实质性上涨空间的有利风险/回报设置”。</blockquote></p><p> Andrews initiated a Buy rating on the stock, and determined a 12-month price target of $10 per share.</p><p><blockquote>安德鲁斯对该股给予买入评级，并确定12个月目标价为每股10美元。</blockquote></p><p> The top analyst explained that the company has created a bridge between two promising sectors: automotive data and its analytics. As connected car prevalence increases, so do the number of possible applications for the data they generate. He noted that beyond major car manufacturers, new revenue opportunities could arise from insurance companies and concierge platforms incorporating OTMO’s data.</p><p><blockquote>这位顶级分析师解释说，该公司在两个有前途的行业之间架起了一座桥梁：汽车数据及其分析。随着联网汽车普及率的增加，其生成的数据的可能应用数量也在增加。他指出，除了主要汽车制造商之外，纳入OTMO数据的保险公司和礼宾平台也可能带来新的收入机会。</blockquote></p><p> In addition to enterprise players, Otonomo provides intelligence for municipal governments about how to design safer and more efficient urban plans.</p><p><blockquote>除了企业参与者，Otonomo还为市政府提供有关如何设计更安全、更高效的城市规划的情报。</blockquote></p><p> One concern for the firm is a potential regulatory shift toward consumer privacy of the information shared by the vehicles, which would disrupt OTMO’s standards of data.</p><p><blockquote>该公司担心的一个问题是监管机构可能会转向车辆共享信息的消费者隐私，这将破坏OTMO的数据标准。</blockquote></p><p> Out of more than 7,000 analysts on TipRanks, Andrews ranks as No.158. Of his ratings, he succeeded 63% of the time, and returned an average of 25.3% on each one.</p><p><blockquote>在TipRanks的7,000多名分析师中，安德鲁斯排名第158位。在他的收视率中，他有63%的成功率，每次平均回报率为25.3%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/VAC\">Marriott Vacations Worldwide</a> </b></p><p><blockquote><b><a href=\"https://laohu8.com/S/VAC\">万豪度假全球</a></b></blockquote></p><p> The Covid-19 pandemic has proved a formidable foe for the travel and leisure industry. After repeated government mandated shutdowns, the delta variant arrived late spring and caused more disruption. Marriot Vacations Worldwide (<b>VAC</b>) survived the storm, and is remaining relevant even in the current dynamic climate.</p><p><blockquote>事实证明，新冠肺炎疫情是旅游和休闲业的强大敌人。在政府多次强制关闭后，德尔塔变异毒株在春末到来，造成了更多的破坏。万豪度假全球（<b>真空</b>）在风暴中幸存下来，即使在当前的动态气候下仍然具有相关性。</blockquote></p><p> David Katz of Jefferies asserted that the company is poised for upside, and is one of his top stock picks for the leisure industry. (SeeMarriot Vacations insider trading activityon TipRanks)</p><p><blockquote>杰富瑞(Jefferies)的大卫·卡茨(David Katz)断言，该公司有望上涨，是他在休闲行业的首选股票之一。（查看TipRanks上的万豪度假内幕交易活动）</blockquote></p><p> Katz rated the stock a Buy, and assigned a 12-month price target of $190.</p><p><blockquote>Katz将该股评级为买入，并将12个月目标价定为190美元。</blockquote></p><p> This bullish target takes into account headwinds from Covid-19, as well as ongoing wildfires across the western U.S. He expects the built-up consumer demand for vacations and timeshares to lead the company toward recovering from its pandemic-induced losses.</p><p><blockquote>这一看涨目标考虑了来自Covid-19的不利因素以及美国西部持续的野火。他预计，消费者对度假和分时度假的需求将引导该公司从大流行造成的损失中恢复过来。</blockquote></p><p></p><p> While the entire industry is set to experience this strong demand, Katz believes thatVAC’s links to Marriot International (<b>MAR</b>) and its brand awareness set it apart from the competition. Additionally, this connection gives VAC “access to the largest loyalty program in hospitality,” providing the firm with a massive installed base.</p><p><blockquote>虽然整个行业都将经历这种强劲的需求，但Katz认为Vac与万豪国际的联系（<b>海</b>）及其品牌知名度使其在竞争中脱颖而出。此外，这种联系使VAC“能够接触到酒店业最大的忠诚度计划”，为该公司提供了庞大的安装基础。</blockquote></p><p> On TipRanks, Katz comes in at No. 418 out of more than 7,000 financial analysts. From his ratings, he was successful 62% of the time, and brought in an average return of 21% per rating.</p><p><blockquote>在TipRanks上，Katz在7,000多名金融分析师中排名第418位。从他的收视率来看，他有62%的成功率，每次收视率的平均回报率为21%。</blockquote></p><p> <b>Dell Technologies<a href=\"https://laohu8.com/S/DELL\">$(DELL)$</a> </b></p><p><blockquote><b>戴尔科技<a href=\"https://laohu8.com/S/DELL\">$（戴尔）$</a></b></blockquote></p><p> Dell Technologies(<b>DELL</b>) recently held its pivotal investor day, and laid out a clear roadmap to increasing free cash flow, market share, and general direction for the company in the long-term. Share repurchasing schemes, a focus on premium consumer products, and potential upside in infrastructure projects, all point the multinational tech firm toward an eventual higher valuation.</p><p><blockquote>戴尔科技(<b>戴尔</b>）最近举行了关键的投资者日，并制定了明确的路线图，以增加公司的自由现金流、市场份额和长期大方向。股票回购计划、对高端消费品的关注以及基础设施项目的潜在上涨空间，都表明这家跨国科技公司最终将获得更高的估值。</blockquote></p><p> Amit Daryanani of Evercore ISI reported on the conference, bullishly reiterating a Buy rating and a 12-month $114 price target.</p><p><blockquote>Evercore ISI的Amit Daryanani对会议进行了报道，乐观地重申了买入评级和114美元的12个月目标价。</blockquote></p><p> Daryanani explained that Dell announced a share repurchase program worth $5 billion in stock, as well as a quarterly dividend. In an effort to increase free cash flow, the tech company will keep its investments in mergers and acquisitions at a less significant profile. The analyst said that the conference sentiment was on-par to above his expectations. (SeeDell Technologies risk factorson TipRanks)</p><p><blockquote>Daryanani解释说，戴尔宣布了价值50亿美元股票的股票回购计划，以及季度股息。为了增加自由现金流，这家科技公司将把并购投资保持在不太重要的地位。该分析师表示，会议情绪符合或高于他的预期。（查看TipRanks上的戴尔科技风险因素）</blockquote></p><p> Dell’s infrastructure and cloud-based storage facing businesses could see “substantial opportunity” in the long-term, such as in remote access solutions and telecommunications software. The Covid-19 pandemic and the work-from-home shift bolstered trends toward PCs and gaming hardware. Dell understands this and intends to focus on more premium products for everyday consumers.</p><p><blockquote>从长远来看，戴尔的基础设施和基于云的存储面向企业可能会看到“巨大的机会”，例如在远程访问解决方案和电信软件方面。新冠肺炎疫情和在家工作的转变推动了个人电脑和游戏硬件的趋势。戴尔明白这一点，并打算专注于为日常消费者提供更多优质产品。</blockquote></p><p> Ranking No. 355 out of over 7,000 analysts on TipRanks, Daryanani maintains a 63% success rate on his ratings. His stock picks currently average out to a 16.6% return.</p><p><blockquote>Daryanani在TipRanks的7,000多名分析师中排名第355位，其评级成功率保持在63%。他选择的股票目前平均回报率为16.6%。</blockquote></p><p> <b>Activision Blizzard</b><b><a href=\"https://laohu8.com/S/ATVI\">$(ATVI)$</a> </b></p><p><blockquote><b>动视暴雪</b><b><a href=\"https://laohu8.com/S/ATVI\">$(ATVI)$</a></b></blockquote></p><p> While individuals were under pandemic-induced lockdowns, many people picked up playing video games as a way to pass the time. The companies that produce these game franchises benefitted from the trend, andActivision Blizzard(<b>ATVI</b>) was no outlier. Now, the firm has a “wave of content” headed to consumers’ consoles, and analysts are bullish on the strong pipeline.</p><p><blockquote>当个人处于疫情引发的封锁之下时，许多人开始玩电子游戏来打发时间。制作这些游戏系列的公司受益于这一趋势，动视暴雪（<b>ATVI</b>）不是异常值。现在，该公司有一波“内容浪潮”流向消费者的游戏机，分析师看好这一强大的渠道。</blockquote></p><p> Andrew Uerkwitz of Jefferies delineated his bullish hypothesis on the stock, stating that Activision has an “underappreciated portfolio of high-quality content in the fastest growing segment in entertainment.”</p><p><blockquote>杰富瑞(Jefferies)的安德鲁·乌尔克维茨(Andrew Uerkwitz)描述了他对该股的看涨假设，称动视暴雪“在增长最快的娱乐领域拥有未被充分重视的高质量内容组合”。</blockquote></p><p> Uerkwitz declared the stock a Buy, and assigned a 12-month price target of $120 per share.</p><p><blockquote>Uerkwitz宣布该股为买入，并将12个月目标价定为每股120美元。</blockquote></p><p> After running several possible scenarios regarding release dates and consumer reception for its upcoming titles, the five-star analyst still finds it hard to imagine further downside, even in bearish cases. Uerkwitz calculated a situation wherein a particular title underperformed, and Activision Blizzard still exceeded estimates for FY2021 earnings per share. (SeeActivision Blizzard’s earnings historyon TipRanks)</p><p><blockquote>在对即将推出的游戏的发布日期和消费者接受度进行了几种可能的情景后，这位五星级分析师仍然发现很难想象进一步的下行，即使是在看跌的情况下。Uerkwitz计算了一种情况，即某个特定游戏表现不佳，而动视暴雪2021财年每股收益仍超出预期。（请参阅TipRanks上动视暴雪的盈利历史）</blockquote></p><p> The company maintains strong gross margins, which are providing it with significant operating leverage. Elaborating on Activision’s options, Uerkwitz added that it has tools for growth, such as share buyback schemes and investments in content, and can explore inorganic expansion through mergers and acquisitions.</p><p><blockquote>该公司保持强劲的毛利率，这为其提供了巨大的运营杠杆。在阐述动视暴雪的选择时，Uerkwitz补充说，它拥有增长工具，例如股票回购计划和内容投资，并且可以通过并购探索无机扩张。</blockquote></p><p> Activision recently came to a settlement with the Equal Employment Opportunity Commission regarding a sexual harassment case. In his opinion, Uerkwitz sees the $18 million deal with the U.S. federal agency as a speed bump in an otherwise smooth year. The settlement removes concerns over worse regulatory penalties, although a less-than-stellar work environment could prove as downside if talent is to be driven away.</p><p><blockquote>动视暴雪最近与平等就业机会委员会就性骚扰案件达成和解。在他看来，Uerkwitz认为与美国联邦机构达成的1800万美元交易是平稳的一年中的一个减速带。该和解协议消除了人们对更严厉监管处罚的担忧，尽管如果人才被赶走，不太好的工作环境可能会带来负面影响。</blockquote></p><p> On TipRanks, Uerkwitz maintains a rank of No. 122 out of over 7,000 expert analysts. His success rate stands at 62%, and per rating he averages a return of 27.7%.</p><p><blockquote>在TipRanks上，Uerkwitz在7,000多名专家分析师中排名第122位。他的成功率为62%，根据评级，他的平均回报率为27.7%。</blockquote></p><p></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>Top Wall Street analysts picks these 5 stocks for the fourth quarter<blockquote>华尔街顶级分析师第四季度精选这5只股票</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\">\nTop Wall Street analysts picks these 5 stocks for the fourth quarter<blockquote>华尔街顶级分析师第四季度精选这5只股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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 smaller\">2021-10-04 07:34</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>TipRanks is a financial data aggregator that uses its dynamic system like a radar, picking up what Wall Street’s analysts have to say about the current market atmosphere. The state of capital markets remains a tangled world of information for even savvy investors, but by using TipRanks’ unique tools, one can gain a clearer perspective on what the professionals are saying.</p><p><blockquote>TipRanks是一家金融数据聚合器，它像雷达一样使用其动态系统，获取华尔街分析师对当前市场氛围的看法。即使对于精明的投资者来说，资本市场的状况仍然是一个错综复杂的信息世界，但通过使用TipRanks的独特工具，人们可以更清晰地了解专业人士的言论。</blockquote></p><p> Let’s take a look at what their hypotheses are on these five stocks.</p><p><blockquote>我们来看看他们对这五只股票的假设是什么。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NKE\">耐克</a> </b></p><p><blockquote><b><a href=\"https://laohu8.com/S/NKE\">耐克</a></b></blockquote></p><p> If viewed correctly, short-term concerns have the potential to be transformed into long-term gains.</p><p><blockquote>如果正确看待，短期担忧有可能转化为长期收益。</blockquote></p><p> Nike(<b>NKE</b>) recently reported earnings, and while it showed increases in demand and strong underlying business fundamentals, the firm did admit to struggling with persisting supply chain issues. Sam Poser of Williams Trading, however, sees this as the time to open a bullish position. (SeeNike stock chartson TipRanks)</p><p><blockquote>耐克（<b>NKE</b>）最近公布了收益，虽然显示需求增加和强劲的潜在业务基本面，但该公司确实承认面临着持续存在的供应链问题。然而，Williams Trading的Sam Poser认为现在是建立看涨头寸的时候了。（参见TipRanks上的Nike股票图表）</blockquote></p><p> Poser rated the stock a Buy, and declared a price target of $196.</p><p><blockquote>Poser将该股评级为买入，并宣布目标价为196美元。</blockquote></p><p> The five-star analyst asserted that despite the supply chain challenges, “the global health of the Nike brand has never been better.” He perceives the headwinds to be of short-lived concern for investors and the company, and expects Nike to outperform its peers in both the near and distant future.</p><p><blockquote>这位五星级分析师断言，尽管面临供应链挑战，“耐克品牌的全球健康状况从未如此之好。”他认为投资者和公司对这些不利因素的担忧是短暂的，并预计耐克在不久的将来和遥远的将来都将跑赢同行。</blockquote></p><p> In its earnings call, Nike lowered its guidance expectations, but Poser calculates that the apparel retailer is on track to meet 2025 targets.</p><p><blockquote>在盈利看涨期权中，Nike降低了指导预期，但Poser计算出这家服装零售商有望实现2025年目标。</blockquote></p><p> The Covid-19 pandemic had initially dragged down brick and mortar store sales, but this metric has nearly rebounded to the status it held before the government-mandated lockdowns. In North America, in-store sales increased more than 50% quarter-over-quarter, indicating a “robust demand” for Nike merchandise.</p><p><blockquote>新冠肺炎疫情最初拖累了实体店的销售，但这一指标几乎已经反弹到政府强制封锁之前的水平。在北美，店内销售额环比增长超过50%，表明对耐克商品的“需求强劲”。</blockquote></p><p> In a pool of over 7,000 expert analysts, Poser is rated by TipRanks as No. 249. His stock ratings have earned him a success rate of 55%, and brought him an average return of 24.8%.</p><p><blockquote>在超过7,000名专家分析师中，Poser被TipRanks评为第249位。他的股票评级为他赢得了55%的成功率，并为他带来了24.8%的平均回报率。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/OTMO\">Otonomo Technologies Ltd</a> </b></p><p><blockquote><b><a href=\"https://laohu8.com/S/OTMO\">奥托诺莫科技有限公司</a></b></blockquote></p><p> For SaaS companies, big data is the name of the game.</p><p><blockquote>对于SaaS公司来说，大数据是游戏的名字。</blockquote></p><p> The power of processing billions of data points from millions of vehicles on the road has provided Otonomo Technologies (<b>OTMO</b>) with a promising business model. The data analytics firm recently went public, and analysts now see even more upside and opportunity for monetization of its product offerings. (SeeOtonomo stock analysison TipRanks)</p><p><blockquote>处理来自道路上数百万辆汽车的数十亿个数据点的能力为Otonomo Technologies（<b>奥特莫</b>）具有有前途的商业模式。这家数据分析公司最近上市，分析师现在看到了其产品货币化的更多上升空间和机会。（请参阅TipRanks上的Otonomo股票分析）</blockquote></p><p> One of those bullish analysts is Jack Andrews of Needham &amp; Co., who wrote thatOtonomooperates a “linchpin technology” that unlocks revenue for original equipment manufacturer and connected car investments.” From his calculations, the stock provides a “favorable risk/reward setup with material upside,” if it is successful in capturing its full potential.</p><p><blockquote>Needham&amp;Co.的杰克·安德鲁斯(Jack Andrews)就是这些看涨的分析师之一，他写道，自动驾驶运营着一项“关键技术”，可以为原始设备制造商和联网汽车投资带来收入。”根据他的计算，如果该股成功发挥其全部潜力，它将提供“具有实质性上涨空间的有利风险/回报设置”。</blockquote></p><p> Andrews initiated a Buy rating on the stock, and determined a 12-month price target of $10 per share.</p><p><blockquote>安德鲁斯对该股给予买入评级，并确定12个月目标价为每股10美元。</blockquote></p><p> The top analyst explained that the company has created a bridge between two promising sectors: automotive data and its analytics. As connected car prevalence increases, so do the number of possible applications for the data they generate. He noted that beyond major car manufacturers, new revenue opportunities could arise from insurance companies and concierge platforms incorporating OTMO’s data.</p><p><blockquote>这位顶级分析师解释说，该公司在两个有前途的行业之间架起了一座桥梁：汽车数据及其分析。随着联网汽车普及率的增加，其生成的数据的可能应用数量也在增加。他指出，除了主要汽车制造商之外，纳入OTMO数据的保险公司和礼宾平台也可能带来新的收入机会。</blockquote></p><p> In addition to enterprise players, Otonomo provides intelligence for municipal governments about how to design safer and more efficient urban plans.</p><p><blockquote>除了企业参与者，Otonomo还为市政府提供有关如何设计更安全、更高效的城市规划的情报。</blockquote></p><p> One concern for the firm is a potential regulatory shift toward consumer privacy of the information shared by the vehicles, which would disrupt OTMO’s standards of data.</p><p><blockquote>该公司担心的一个问题是监管机构可能会转向车辆共享信息的消费者隐私，这将破坏OTMO的数据标准。</blockquote></p><p> Out of more than 7,000 analysts on TipRanks, Andrews ranks as No.158. Of his ratings, he succeeded 63% of the time, and returned an average of 25.3% on each one.</p><p><blockquote>在TipRanks的7,000多名分析师中，安德鲁斯排名第158位。在他的收视率中，他有63%的成功率，每次平均回报率为25.3%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/VAC\">Marriott Vacations Worldwide</a> </b></p><p><blockquote><b><a href=\"https://laohu8.com/S/VAC\">万豪度假全球</a></b></blockquote></p><p> The Covid-19 pandemic has proved a formidable foe for the travel and leisure industry. After repeated government mandated shutdowns, the delta variant arrived late spring and caused more disruption. Marriot Vacations Worldwide (<b>VAC</b>) survived the storm, and is remaining relevant even in the current dynamic climate.</p><p><blockquote>事实证明，新冠肺炎疫情是旅游和休闲业的强大敌人。在政府多次强制关闭后，德尔塔变异毒株在春末到来，造成了更多的破坏。万豪度假全球（<b>真空</b>）在风暴中幸存下来，即使在当前的动态气候下仍然具有相关性。</blockquote></p><p> David Katz of Jefferies asserted that the company is poised for upside, and is one of his top stock picks for the leisure industry. (SeeMarriot Vacations insider trading activityon TipRanks)</p><p><blockquote>杰富瑞(Jefferies)的大卫·卡茨(David Katz)断言，该公司有望上涨，是他在休闲行业的首选股票之一。（查看TipRanks上的万豪度假内幕交易活动）</blockquote></p><p> Katz rated the stock a Buy, and assigned a 12-month price target of $190.</p><p><blockquote>Katz将该股评级为买入，并将12个月目标价定为190美元。</blockquote></p><p> This bullish target takes into account headwinds from Covid-19, as well as ongoing wildfires across the western U.S. He expects the built-up consumer demand for vacations and timeshares to lead the company toward recovering from its pandemic-induced losses.</p><p><blockquote>这一看涨目标考虑了来自Covid-19的不利因素以及美国西部持续的野火。他预计，消费者对度假和分时度假的需求将引导该公司从大流行造成的损失中恢复过来。</blockquote></p><p></p><p> While the entire industry is set to experience this strong demand, Katz believes thatVAC’s links to Marriot International (<b>MAR</b>) and its brand awareness set it apart from the competition. Additionally, this connection gives VAC “access to the largest loyalty program in hospitality,” providing the firm with a massive installed base.</p><p><blockquote>虽然整个行业都将经历这种强劲的需求，但Katz认为Vac与万豪国际的联系（<b>海</b>）及其品牌知名度使其在竞争中脱颖而出。此外，这种联系使VAC“能够接触到酒店业最大的忠诚度计划”，为该公司提供了庞大的安装基础。</blockquote></p><p> On TipRanks, Katz comes in at No. 418 out of more than 7,000 financial analysts. From his ratings, he was successful 62% of the time, and brought in an average return of 21% per rating.</p><p><blockquote>在TipRanks上，Katz在7,000多名金融分析师中排名第418位。从他的收视率来看，他有62%的成功率，每次收视率的平均回报率为21%。</blockquote></p><p> <b>Dell Technologies<a href=\"https://laohu8.com/S/DELL\">$(DELL)$</a> </b></p><p><blockquote><b>戴尔科技<a href=\"https://laohu8.com/S/DELL\">$（戴尔）$</a></b></blockquote></p><p> Dell Technologies(<b>DELL</b>) recently held its pivotal investor day, and laid out a clear roadmap to increasing free cash flow, market share, and general direction for the company in the long-term. Share repurchasing schemes, a focus on premium consumer products, and potential upside in infrastructure projects, all point the multinational tech firm toward an eventual higher valuation.</p><p><blockquote>戴尔科技(<b>戴尔</b>）最近举行了关键的投资者日，并制定了明确的路线图，以增加公司的自由现金流、市场份额和长期大方向。股票回购计划、对高端消费品的关注以及基础设施项目的潜在上涨空间，都表明这家跨国科技公司最终将获得更高的估值。</blockquote></p><p> Amit Daryanani of Evercore ISI reported on the conference, bullishly reiterating a Buy rating and a 12-month $114 price target.</p><p><blockquote>Evercore ISI的Amit Daryanani对会议进行了报道，乐观地重申了买入评级和114美元的12个月目标价。</blockquote></p><p> Daryanani explained that Dell announced a share repurchase program worth $5 billion in stock, as well as a quarterly dividend. In an effort to increase free cash flow, the tech company will keep its investments in mergers and acquisitions at a less significant profile. The analyst said that the conference sentiment was on-par to above his expectations. (SeeDell Technologies risk factorson TipRanks)</p><p><blockquote>Daryanani解释说，戴尔宣布了价值50亿美元股票的股票回购计划，以及季度股息。为了增加自由现金流，这家科技公司将把并购投资保持在不太重要的地位。该分析师表示，会议情绪符合或高于他的预期。（查看TipRanks上的戴尔科技风险因素）</blockquote></p><p> Dell’s infrastructure and cloud-based storage facing businesses could see “substantial opportunity” in the long-term, such as in remote access solutions and telecommunications software. The Covid-19 pandemic and the work-from-home shift bolstered trends toward PCs and gaming hardware. Dell understands this and intends to focus on more premium products for everyday consumers.</p><p><blockquote>从长远来看，戴尔的基础设施和基于云的存储面向企业可能会看到“巨大的机会”，例如在远程访问解决方案和电信软件方面。新冠肺炎疫情和在家工作的转变推动了个人电脑和游戏硬件的趋势。戴尔明白这一点，并打算专注于为日常消费者提供更多优质产品。</blockquote></p><p> Ranking No. 355 out of over 7,000 analysts on TipRanks, Daryanani maintains a 63% success rate on his ratings. His stock picks currently average out to a 16.6% return.</p><p><blockquote>Daryanani在TipRanks的7,000多名分析师中排名第355位，其评级成功率保持在63%。他选择的股票目前平均回报率为16.6%。</blockquote></p><p> <b>Activision Blizzard</b><b><a href=\"https://laohu8.com/S/ATVI\">$(ATVI)$</a> </b></p><p><blockquote><b>动视暴雪</b><b><a href=\"https://laohu8.com/S/ATVI\">$(ATVI)$</a></b></blockquote></p><p> While individuals were under pandemic-induced lockdowns, many people picked up playing video games as a way to pass the time. The companies that produce these game franchises benefitted from the trend, andActivision Blizzard(<b>ATVI</b>) was no outlier. Now, the firm has a “wave of content” headed to consumers’ consoles, and analysts are bullish on the strong pipeline.</p><p><blockquote>当个人处于疫情引发的封锁之下时，许多人开始玩电子游戏来打发时间。制作这些游戏系列的公司受益于这一趋势，动视暴雪（<b>ATVI</b>）不是异常值。现在，该公司有一波“内容浪潮”流向消费者的游戏机，分析师看好这一强大的渠道。</blockquote></p><p> Andrew Uerkwitz of Jefferies delineated his bullish hypothesis on the stock, stating that Activision has an “underappreciated portfolio of high-quality content in the fastest growing segment in entertainment.”</p><p><blockquote>杰富瑞(Jefferies)的安德鲁·乌尔克维茨(Andrew Uerkwitz)描述了他对该股的看涨假设，称动视暴雪“在增长最快的娱乐领域拥有未被充分重视的高质量内容组合”。</blockquote></p><p> Uerkwitz declared the stock a Buy, and assigned a 12-month price target of $120 per share.</p><p><blockquote>Uerkwitz宣布该股为买入，并将12个月目标价定为每股120美元。</blockquote></p><p> After running several possible scenarios regarding release dates and consumer reception for its upcoming titles, the five-star analyst still finds it hard to imagine further downside, even in bearish cases. Uerkwitz calculated a situation wherein a particular title underperformed, and Activision Blizzard still exceeded estimates for FY2021 earnings per share. (SeeActivision Blizzard’s earnings historyon TipRanks)</p><p><blockquote>在对即将推出的游戏的发布日期和消费者接受度进行了几种可能的情景后，这位五星级分析师仍然发现很难想象进一步的下行，即使是在看跌的情况下。Uerkwitz计算了一种情况，即某个特定游戏表现不佳，而动视暴雪2021财年每股收益仍超出预期。（请参阅TipRanks上动视暴雪的盈利历史）</blockquote></p><p> The company maintains strong gross margins, which are providing it with significant operating leverage. Elaborating on Activision’s options, Uerkwitz added that it has tools for growth, such as share buyback schemes and investments in content, and can explore inorganic expansion through mergers and acquisitions.</p><p><blockquote>该公司保持强劲的毛利率，这为其提供了巨大的运营杠杆。在阐述动视暴雪的选择时，Uerkwitz补充说，它拥有增长工具，例如股票回购计划和内容投资，并且可以通过并购探索无机扩张。</blockquote></p><p> Activision recently came to a settlement with the Equal Employment Opportunity Commission regarding a sexual harassment case. In his opinion, Uerkwitz sees the $18 million deal with the U.S. federal agency as a speed bump in an otherwise smooth year. The settlement removes concerns over worse regulatory penalties, although a less-than-stellar work environment could prove as downside if talent is to be driven away.</p><p><blockquote>动视暴雪最近与平等就业机会委员会就性骚扰案件达成和解。在他看来，Uerkwitz认为与美国联邦机构达成的1800万美元交易是平稳的一年中的一个减速带。该和解协议消除了人们对更严厉监管处罚的担忧，尽管如果人才被赶走，不太好的工作环境可能会带来负面影响。</blockquote></p><p> On TipRanks, Uerkwitz maintains a rank of No. 122 out of over 7,000 expert analysts. His success rate stands at 62%, and per rating he averages a return of 27.7%.</p><p><blockquote>在TipRanks上，Uerkwitz在7,000多名专家分析师中排名第122位。他的成功率为62%，根据评级，他的平均回报率为27.7%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114921615","content_text":"TipRanks is a financial data aggregator that uses its dynamic system like a radar, picking up what Wall Street’s analysts have to say about the current market atmosphere. The state of capital markets remains a tangled world of information for even savvy investors, but by using TipRanks’ unique tools, one can gain a clearer perspective on what the professionals are saying.\nLet’s take a look at what their hypotheses are on these five stocks.\n耐克 \nIf viewed correctly, short-term concerns have the potential to be transformed into long-term gains.\nNike(NKE) recently reported earnings, and while it showed increases in demand and strong underlying business fundamentals, the firm did admit to struggling with persisting supply chain issues. Sam Poser of Williams Trading, however, sees this as the time to open a bullish position. (SeeNike stock chartson TipRanks)\nPoser rated the stock a Buy, and declared a price target of $196.\nThe five-star analyst asserted that despite the supply chain challenges, “the global health of the Nike brand has never been better.” He perceives the headwinds to be of short-lived concern for investors and the company, and expects Nike to outperform its peers in both the near and distant future.\nIn its earnings call, Nike lowered its guidance expectations, but Poser calculates that the apparel retailer is on track to meet 2025 targets.\nThe Covid-19 pandemic had initially dragged down brick and mortar store sales, but this metric has nearly rebounded to the status it held before the government-mandated lockdowns. In North America, in-store sales increased more than 50% quarter-over-quarter, indicating a “robust demand” for Nike merchandise.\nIn a pool of over 7,000 expert analysts, Poser is rated by TipRanks as No. 249. His stock ratings have earned him a success rate of 55%, and brought him an average return of 24.8%.\nOtonomo Technologies Ltd \nFor SaaS companies, big data is the name of the game.\nThe power of processing billions of data points from millions of vehicles on the road has provided Otonomo Technologies (OTMO) with a promising business model. The data analytics firm recently went public, and analysts now see even more upside and opportunity for monetization of its product offerings. (SeeOtonomo stock analysison TipRanks)\nOne of those bullish analysts is Jack Andrews of Needham & Co., who wrote thatOtonomooperates a “linchpin technology” that unlocks revenue for original equipment manufacturer and connected car investments.” From his calculations, the stock provides a “favorable risk/reward setup with material upside,” if it is successful in capturing its full potential.\nAndrews initiated a Buy rating on the stock, and determined a 12-month price target of $10 per share.\nThe top analyst explained that the company has created a bridge between two promising sectors: automotive data and its analytics. As connected car prevalence increases, so do the number of possible applications for the data they generate. He noted that beyond major car manufacturers, new revenue opportunities could arise from insurance companies and concierge platforms incorporating OTMO’s data.\nIn addition to enterprise players, Otonomo provides intelligence for municipal governments about how to design safer and more efficient urban plans.\nOne concern for the firm is a potential regulatory shift toward consumer privacy of the information shared by the vehicles, which would disrupt OTMO’s standards of data.\nOut of more than 7,000 analysts on TipRanks, Andrews ranks as No.158. Of his ratings, he succeeded 63% of the time, and returned an average of 25.3% on each one.\nMarriott Vacations Worldwide \nThe Covid-19 pandemic has proved a formidable foe for the travel and leisure industry. After repeated government mandated shutdowns, the delta variant arrived late spring and caused more disruption. Marriot Vacations Worldwide (VAC) survived the storm, and is remaining relevant even in the current dynamic climate.\nDavid Katz of Jefferies asserted that the company is poised for upside, and is one of his top stock picks for the leisure industry. (SeeMarriot Vacations insider trading activityon TipRanks)\nKatz rated the stock a Buy, and assigned a 12-month price target of $190.\nThis bullish target takes into account headwinds from Covid-19, as well as ongoing wildfires across the western U.S. He expects the built-up consumer demand for vacations and timeshares to lead the company toward recovering from its pandemic-induced losses.\nWhile the entire industry is set to experience this strong demand, Katz believes thatVAC’s links to Marriot International (MAR) and its brand awareness set it apart from the competition. Additionally, this connection gives VAC “access to the largest loyalty program in hospitality,” providing the firm with a massive installed base.\nOn TipRanks, Katz comes in at No. 418 out of more than 7,000 financial analysts. From his ratings, he was successful 62% of the time, and brought in an average return of 21% per rating.\nDell Technologies$(DELL)$ \nDell Technologies(DELL) recently held its pivotal investor day, and laid out a clear roadmap to increasing free cash flow, market share, and general direction for the company in the long-term. Share repurchasing schemes, a focus on premium consumer products, and potential upside in infrastructure projects, all point the multinational tech firm toward an eventual higher valuation.\nAmit Daryanani of Evercore ISI reported on the conference, bullishly reiterating a Buy rating and a 12-month $114 price target.\nDaryanani explained that Dell announced a share repurchase program worth $5 billion in stock, as well as a quarterly dividend. In an effort to increase free cash flow, the tech company will keep its investments in mergers and acquisitions at a less significant profile. The analyst said that the conference sentiment was on-par to above his expectations. (SeeDell Technologies risk factorson TipRanks)\nDell’s infrastructure and cloud-based storage facing businesses could see “substantial opportunity” in the long-term, such as in remote access solutions and telecommunications software. The Covid-19 pandemic and the work-from-home shift bolstered trends toward PCs and gaming hardware. Dell understands this and intends to focus on more premium products for everyday consumers.\nRanking No. 355 out of over 7,000 analysts on TipRanks, Daryanani maintains a 63% success rate on his ratings. His stock picks currently average out to a 16.6% return.\nActivision Blizzard$(ATVI)$ \nWhile individuals were under pandemic-induced lockdowns, many people picked up playing video games as a way to pass the time. The companies that produce these game franchises benefitted from the trend, andActivision Blizzard(ATVI) was no outlier. Now, the firm has a “wave of content” headed to consumers’ consoles, and analysts are bullish on the strong pipeline.\nAndrew Uerkwitz of Jefferies delineated his bullish hypothesis on the stock, stating that Activision has an “underappreciated portfolio of high-quality content in the fastest growing segment in entertainment.”\nUerkwitz declared the stock a Buy, and assigned a 12-month price target of $120 per share.\nAfter running several possible scenarios regarding release dates and consumer reception for its upcoming titles, the five-star analyst still finds it hard to imagine further downside, even in bearish cases. Uerkwitz calculated a situation wherein a particular title underperformed, and Activision Blizzard still exceeded estimates for FY2021 earnings per share. (SeeActivision Blizzard’s earnings historyon TipRanks)\nThe company maintains strong gross margins, which are providing it with significant operating leverage. Elaborating on Activision’s options, Uerkwitz added that it has tools for growth, such as share buyback schemes and investments in content, and can explore inorganic expansion through mergers and acquisitions.\nActivision recently came to a settlement with the Equal Employment Opportunity Commission regarding a sexual harassment case. In his opinion, Uerkwitz sees the $18 million deal with the U.S. federal agency as a speed bump in an otherwise smooth year. The settlement removes concerns over worse regulatory penalties, although a less-than-stellar work environment could prove as downside if talent is to be driven away.\nOn TipRanks, Uerkwitz maintains a rank of No. 122 out of over 7,000 expert analysts. His success rate stands at 62%, and per rating he averages a return of 27.7%.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2836,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862759747,"gmtCreate":1632917849549,"gmtModify":1632917849907,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Phone to be made cheaper?","listText":"Phone to be made cheaper?","text":"Phone to be made cheaper?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/862759747","repostId":"2171811529","repostType":4,"isVote":1,"tweetType":1,"viewCount":3205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":866831644,"gmtCreate":1632751977588,"gmtModify":1632798091712,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Accurate?","listText":"Accurate?","text":"Accurate?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/866831644","repostId":"2170238006","repostType":4,"isVote":1,"tweetType":1,"viewCount":2749,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868251535,"gmtCreate":1632660999827,"gmtModify":1632798726269,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Time to buy?","listText":"Time to buy?","text":"Time to buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/868251535","repostId":"1142057327","repostType":4,"repost":{"id":"1142057327","kind":"news","pubTimestamp":1632643246,"share":"https://www.laohu8.com/m/news/1142057327?lang=zh_CN&edition=full","pubTime":"2021-09-26 16:00","market":"hk","language":"en","title":"Intel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始建设亚利桑那州两家计算机芯片工厂</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142057327","media":"The street","summary":"Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to","content":"<p>Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.</p><p><blockquote>英特尔在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项200亿美元项目的一部分，旨在帮助满足美国对半导体的高需求。</blockquote></p><p> Intel&nbsp;(<b>INTC</b>) -Get Intel Corporation (INTC) Report&nbsp;on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help&nbsp;alleviate the severe shortage of semiconductors in the U.S.</p><p><blockquote>英特尔（<b>INTC</b>)-获取英特尔公司(INTC)报告周五在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项耗资200亿美元的项目的一部分，旨在帮助缓解美国半导体的严重短缺。</blockquote></p><p> The Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.</p><p><blockquote>这家总部位于加利福尼亚州圣克拉拉的半导体芯片制造商首席执行官帕特·基辛格(Pat Gelsinger)在该公司位于亚利桑那州钱德勒的奥科蒂洛园区主持了该项目的奠基仪式，标志着该州历史上最大的私人投资。</blockquote></p><p> Intel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.</p><p><blockquote>英特尔预计这些工厂将于2024年全面投入运营，生产该公司最先进的工艺技术。</blockquote></p><p> “Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.</p><p><blockquote>基辛格在公司声明中表示：“今天的庆祝活动标志着一个重要的里程碑，因为我们正在努力提高产能并满足对半导体的难以置信的需求：半导体是万物数字化的基础技术。我们正在开创一个创新的新时代——对英特尔、对亚利桑那州和对全世界都是如此。自40多年前开业以来，这项200亿美元的扩建将使我们在亚利桑那州的总投资超过500亿美元。”</blockquote></p><p> \"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.</p><p><blockquote>Gelsinger表示：“作为唯一一家总部位于美国的领先芯片制造商，我们致力于在这项长期投资的基础上再接再厉，帮助美国重新获得半导体领先地位。”</blockquote></p><p> Shares of Intel on Friday traded 0.18% higher to $54.32 after hours.</p><p><blockquote>周五盘后英特尔股价上涨0.18%，至54.32美元。</blockquote></p><p> Gelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.</p><p><blockquote>基辛格周四参加了与科技公司高管和商务部长吉娜·雷蒙多的虚拟会议，以解决全球半导体芯片短缺问题，该问题干扰了高科技、电子和汽车行业的生产。</blockquote></p><p> The two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.</p><p><blockquote>这两个新工厂将被命名为Fab 52和Fab 62，将容纳总共六个半导体晶圆厂。该项目将创造3,000多个高科技、高工资的英特尔工作岗位、3,000个建筑工作岗位，并为当地社区提供约15,000个额外的间接工作岗位。</blockquote></p><p> Intel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.</p><p><blockquote>英特尔的竞争对手台积电公司计划也在亚利桑那州建造其在美国的第二家芯片工厂，目标是2024年开始生产。</blockquote></p><p></p>","source":"lsy1610613172068","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Intel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始建设亚利桑那州两家计算机芯片工厂</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\">\nIntel Starts Construction of Two Arizona Computer Chip Factories<blockquote>英特尔开始建设亚利桑那州两家计算机芯片工厂</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The street</strong><span class=\"h-time small\">2021-09-26 16:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.</p><p><blockquote>英特尔在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项200亿美元项目的一部分，旨在帮助满足美国对半导体的高需求。</blockquote></p><p> Intel&nbsp;(<b>INTC</b>) -Get Intel Corporation (INTC) Report&nbsp;on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help&nbsp;alleviate the severe shortage of semiconductors in the U.S.</p><p><blockquote>英特尔（<b>INTC</b>)-获取英特尔公司(INTC)报告周五在亚利桑那州的两家新计算机芯片工厂破土动工，这是一项耗资200亿美元的项目的一部分，旨在帮助缓解美国半导体的严重短缺。</blockquote></p><p> The Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.</p><p><blockquote>这家总部位于加利福尼亚州圣克拉拉的半导体芯片制造商首席执行官帕特·基辛格(Pat Gelsinger)在该公司位于亚利桑那州钱德勒的奥科蒂洛园区主持了该项目的奠基仪式，标志着该州历史上最大的私人投资。</blockquote></p><p> Intel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.</p><p><blockquote>英特尔预计这些工厂将于2024年全面投入运营，生产该公司最先进的工艺技术。</blockquote></p><p> “Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.</p><p><blockquote>基辛格在公司声明中表示：“今天的庆祝活动标志着一个重要的里程碑，因为我们正在努力提高产能并满足对半导体的难以置信的需求：半导体是万物数字化的基础技术。我们正在开创一个创新的新时代——对英特尔、对亚利桑那州和对全世界都是如此。自40多年前开业以来，这项200亿美元的扩建将使我们在亚利桑那州的总投资超过500亿美元。”</blockquote></p><p> \"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.</p><p><blockquote>Gelsinger表示：“作为唯一一家总部位于美国的领先芯片制造商，我们致力于在这项长期投资的基础上再接再厉，帮助美国重新获得半导体领先地位。”</blockquote></p><p> Shares of Intel on Friday traded 0.18% higher to $54.32 after hours.</p><p><blockquote>周五盘后英特尔股价上涨0.18%，至54.32美元。</blockquote></p><p> Gelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.</p><p><blockquote>基辛格周四参加了与科技公司高管和商务部长吉娜·雷蒙多的虚拟会议，以解决全球半导体芯片短缺问题，该问题干扰了高科技、电子和汽车行业的生产。</blockquote></p><p> The two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.</p><p><blockquote>这两个新工厂将被命名为Fab 52和Fab 62，将容纳总共六个半导体晶圆厂。该项目将创造3,000多个高科技、高工资的英特尔工作岗位、3,000个建筑工作岗位，并为当地社区提供约15,000个额外的间接工作岗位。</blockquote></p><p> Intel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.</p><p><blockquote>英特尔的竞争对手台积电公司计划也在亚利桑那州建造其在美国的第二家芯片工厂，目标是2024年开始生产。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/intel-starts-construction-of-two-arizona-computer-chip-factories\">The street</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"INTC":"英特尔"},"source_url":"https://www.thestreet.com/investing/intel-starts-construction-of-two-arizona-computer-chip-factories","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142057327","content_text":"Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.\nIntel (INTC) -Get Intel Corporation (INTC) Report on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help alleviate the severe shortage of semiconductors in the U.S.\nThe Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.\nIntel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.\n“Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.\n\"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.\nShares of Intel on Friday traded 0.18% higher to $54.32 after hours.\nGelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.\nThe two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.\nIntel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.","news_type":1,"symbols_score_info":{"INTC":0.9}},"isVote":1,"tweetType":1,"viewCount":2718,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":863461104,"gmtCreate":1632412894108,"gmtModify":1632729682036,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Go go go!","listText":"Go go go!","text":"Go go go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/863461104","repostId":"1159478468","repostType":4,"repost":{"id":"1159478468","kind":"news","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":1632411695,"share":"https://www.laohu8.com/m/news/1159478468?lang=zh_CN&edition=full","pubTime":"2021-09-23 23:41","market":"other","language":"en","title":"EngageSmart opens for trading at $37, up about 43.6% from IPO price<blockquote>EngageSmart开盘价为37美元，较IPO价格上涨约43.6%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159478468","media":"Tiger Newspress","summary":"(Sept 23) EngageSmart Inc. opens for trading at $37, up about 43.6% from IPO price.\n\nCompany\nBraintr","content":"<p>(Sept 23)&nbsp;<a href=\"https://laohu8.com/S/ESMT\">EngageSmart Inc.</a> opens for trading at $37, up about 43.6% from IPO price.</p><p><blockquote>（9月23日）<a href=\"https://laohu8.com/S/ESMT\">EngageSmart公司。</a>开盘价为37美元，较IPO价格上涨约43.6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/835bc9b4ff09e761852f27f75743b887\" tg-width=\"898\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>Company</b></p><p><blockquote><b>公司</b></blockquote></p><p> Braintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.</p><p><blockquote>总部位于马萨诸塞州布伦特里的EngageSmart成立的目的是开发一个平台，提高针对某些垂直行业的客户参与度。</blockquote></p><p> Management is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.</p><p><blockquote>管理层由创始人兼首席执行官Robert P.Bennett领导，他自公司成立以来一直在公司工作，此前曾担任Sage Payment Solutions总裁。</blockquote></p><p> The company's primary offerings include:</p><p><blockquote>该公司的主要产品包括：</blockquote></p><p> <ul>  <li>SimplePractice - Wellness</li>  <li>InvoiceCloud - Government, Utilities and Financial Services</li>  <li>HealthPay24 - Healthcare</li>  <li>DonorDrive - Non-profit and Corporate Fundraising</li> </ul> EngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.</p><p><blockquote><ul><li>简单实践-健康</li><li>InvoiceCloud–政府、公用事业和金融服务</li><li>HealthPay24-医疗保健</li><li>DonorDrive-非营利和企业筹款</li></ul>EngageSmart已从General Atlantic和Summit Partners等投资者那里获得了至少4.51亿美元的股权投资。</blockquote></p><p> <b>Customer Acquisition</b></p><p><blockquote><b>客户获取</b></blockquote></p><p> The firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.</p><p><blockquote>该公司通过其直销队伍和在线服务追求大型企业客户和中小型企业客户。</blockquote></p><p> As of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.</p><p><blockquote>截至2021年6月30日，该公司已为中小企业市场的68,000多家客户和企业解决方案领域的3,000多家客户提供服务。</blockquote></p><p> Selling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:</p><p><blockquote>销售和营销费用占总收入的百分比随着收入的增加而下降，如下图所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Selling and Marketing</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>销售及市场推广</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Expenses vs. Revenue</b></p><p><blockquote><td><b>费用与收入</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Percentage</p><p><blockquote><td>百分比</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>32.4%</p><p><blockquote><td>32.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>33.1%</p><p><blockquote><td>33.1%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>43.1%</p><p><blockquote><td>43.1%</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:</p><p><blockquote>销售和营销效率率（定义为每美元的销售和营销支出产生多少美元的额外新收入）在最近的报告期略有下降至1.1倍，如下表所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Selling and Marketing</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>销售及市场推广</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Efficiency Rate</b></p><p><blockquote><td><b>效率率</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Multiple</p><p><blockquote><td>多个的</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>1.1</p><p><blockquote><td>1.1</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>1.3</p><p><blockquote><td>1.3</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.</p><p><blockquote>40法则是软件行业的经验法则，只要收入增长率和EBITDA百分比等于或超过40%，公司就处于可接受的增长/EBITDA轨迹上。</blockquote></p><p> ESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:</p><p><blockquote>截至2021年6月30日，ESMT的最新计算结果为64%，因此该公司在这方面表现良好，如下表所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Rule of 40</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>40法则</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Calculation</b></p><p><blockquote><td><b>计算</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Recent Rev. Growth %</p><p><blockquote><tr><td>近期收入增长%</td></tr></blockquote></p><p></td>    <td>59%</p><p><blockquote><td>59%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EBITDA %</p><p><blockquote><tr><td>EBITDA%</td></tr></blockquote></p><p></td>    <td>5%</p><p><blockquote><td>5%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Total</p><p><blockquote><tr><td>总的</td></tr></blockquote></p><p></td>    <td>64%</p><p><blockquote><td>64%</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p><p><blockquote>截至2020年12月31日，该公司以美元计算的净收入保留率为124%，这是一个强劲的业绩。</blockquote></p><p> The dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.</p><p><blockquote>基于美元的净收入保留率指标衡量随着时间的推移，每个客户群产生了多少额外收入，因此超过100%的数字意味着公司随着时间的推移从同一客户群产生了更多收入，表明良好的产品/市场契合度以及高效的销售和营销工作。</blockquote></p><p> <b>Market &amp; Competition</b></p><p><blockquote><b>市场与竞争</b></blockquote></p><p> According to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.</p><p><blockquote>根据Mordor Intelligence的2021年市场研究报告，2020年全球客户参与解决方案市场规模估计为155亿美元，预计到2026年将达到309亿美元。</blockquote></p><p> This represents a forecast CAGR of 12.65% from 2021 to 2026.</p><p><blockquote>这意味着2021年至2026年的预测复合年增长率为12.65%。</blockquote></p><p> The main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.</p><p><blockquote>这一预期增长的主要驱动力是技术解决方案的增长，以改善客户通过他们用来与企业联系的任何设备的旅程。</blockquote></p><p> Also, a desire to reduce customer churn rate results in improved business financials and growing valuation.</p><p><blockquote>此外，降低客户流失率的愿望会导致企业财务状况的改善和估值的增长。</blockquote></p><p> Below is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:</p><p><blockquote>下图显示了2018年美国不同行业客户流失率的变化：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f1066adb602d05e4e99630aacf61e1c5\" tg-width=\"1060\" tg-height=\"922\" referrerpolicy=\"no-referrer\">Major competitive or other industry participants include:</p><p><blockquote>主要竞争对手或其他行业参与者包括：</blockquote></p><p> <ul>  <li>IBM(NYSE:IBM)</p><p><blockquote><ul><li>IBM（纽约证券交易所代码：IBM）</li></ul></blockquote></p><p></li>  <li>Microsoft(NASDAQ:MSFT)</p><p><blockquote><li>微软（纳斯达克：MSFT）</li></blockquote></p><p></li>  <li>Nuance(NASDAQ:NUAN)</p><p><blockquote><li>细微差别（纳斯达克：暖）</li></blockquote></p><p></li>  <li>Oracle(NYSE:ORCL)</p><p><blockquote><li>甲骨文（纽约证券交易所代码：ORCL）</li></blockquote></p><p></li>  <li>Salesforce(NYSE:CRM)</p><p><blockquote><li>Salesforce（纽约证券交易所代码：CRM）</li></blockquote></p><p></li>  <li>Avaya(NYSE:AVYA)</p><p><blockquote><li>Avaya（纽约证券交易所代码：AVYA）</li></blockquote></p><p></li>  <li>Calabrio</p><p><blockquote><li>卡拉布里奥</li></blockquote></p><p></li>  <li>Aspect Software</p><p><blockquote><li>Aspect软件</li></blockquote></p><p></li>  <li>Genesys</p><p><blockquote><li>创世纪</li></blockquote></p><p></li>  <li>Verint Systems(NASDAQ:VRNT)</p><p><blockquote><li>Verint Systems（纳斯达克：VRNT）</li></blockquote></p><p></li>  <li>NICE Ltd.(NASDAQ:NICE)</p><p><blockquote><li>尼斯有限公司（纳斯达克：NICE）</li></blockquote></p><p></li>  <li>OpenText</p><p><blockquote><li>OpenText</li></blockquote></p><p></li>  <li>Pegasystems(NASDAQ:PEGA)</p><p><blockquote><li>飞马系统（纳斯达克：PEGA）</li></blockquote></p><p></li>  <li>Others</p><p><blockquote><li>其他</li></blockquote></p><p></p><p></li> </ul> <b>Financial Performance</b></p><p><blockquote><b>财务表现</b></blockquote></p><p> EngageSmart's recent financial results can be summarized as follows:</p><p><blockquote>EngageSmart最近的财务业绩可总结如下：</blockquote></p><p> <ul>  <li>Growing topline revenue</p><p><blockquote><ul><li>营收不断增长</li></ul></blockquote></p><p></li>  <li>Increasing gross profit and high gross margin</p><p><blockquote><li>毛利增加，毛利率高</li></blockquote></p><p></li>  <li>Growing operating profit and net income</p><p><blockquote><li>营业利润和净利润不断增长</li></blockquote></p><p></li>  <li>Increasing cash flow from operations</p><p><blockquote><li>增加经营现金流</li></blockquote></p><p></li> </ul> Below are relevant financial results derived from the firm's registration statement:</p><p><blockquote>以下是来自公司注册声明的相关财务业绩：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Total Revenue</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>收入总额</b></td></tr></tbody></table></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Total Revenue</p><p><blockquote><td>收入总额</td></blockquote></p><p></td>    <td>% Variance vs. Prior</p><p><blockquote><td>与既往相比的%差异</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 99,171,000</p><p><blockquote><td>$99,171,000</td></blockquote></p><p></td>    <td>58.6%</p><p><blockquote><td>58.6%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 146,557,000</p><p><blockquote><td>$146,557,000</td></blockquote></p><p></td>    <td>77.8%</p><p><blockquote><td>77.8%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ 82,432,000</p><p><blockquote><td>$82,432,000</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Gross Profit (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>毛利（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Gross Profit (Loss)</p><p><blockquote><td>毛利（亏损）</td></blockquote></p><p></td>    <td>% Variance vs. Prior</p><p><blockquote><td>与既往差异%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 73,673,000</p><p><blockquote><td>$73,673,000</td></blockquote></p><p></td>    <td>61.4%</p><p><blockquote><td>61.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 108,964,000</p><p><blockquote><td>$108,964,000</td></blockquote></p><p></td>    <td>89.2%</p><p><blockquote><td>89.2%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ 57,591,000</p><p><blockquote><td>$57,591,000</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Gross Margin</b></p><p><blockquote><tr></tr><tr><td><b>毛利率</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Gross Margin</p><p><blockquote><td>毛利率</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>74.29%</p><p><blockquote><td>74.29%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>74.35%</p><p><blockquote><td>74.35%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>69.86%</p><p><blockquote><td>69.86%</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Operating Profit (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>经营溢利（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Operating Profit (Loss)</p><p><blockquote><td>经营溢利（亏损）</td></blockquote></p><p></td>    <td>Operating Margin</p><p><blockquote><td>营业利润率</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 5,001,000</p><p><blockquote><td>$5,001,000</td></blockquote></p><p></td>    <td>5.0%</p><p><blockquote><td>5.0%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 648,000</p><p><blockquote><td>$648,000</td></blockquote></p><p></td>    <td>0.4%</p><p><blockquote><td>0.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (50,398,000)</p><p><blockquote><td>$(50,398,000)</td></blockquote></p><p></td>    <td>-61.1%</p><p><blockquote><td>-61.1%</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Net Income (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>净利润（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Net Income (Loss)</p><p><blockquote><td>净利润（亏损）</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 274,000</p><p><blockquote><td>$274,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ (6,678,000)</p><p><blockquote><td>$(6,678,000)</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (53,598,000)</p><p><blockquote><td>$(53,598,000)</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Cash Flow From Operations</b></p><p><blockquote><tr></tr><tr><td><b>经营所得现金流量</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Cash Flow From Operations</p><p><blockquote><td>经营所得现金流量</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 12,044,000</p><p><blockquote><td>$12,044,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 19,645,000</p><p><blockquote><td>$19,645,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (1,427,000)</p><p><blockquote><td>$(1,427,000)</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td>(Glossary Of Terms)</p><p><blockquote><tr></tr><tr><td>（术语表）</td></tr></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> As of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.</p><p><blockquote>截至2021年6月30日，EngageSmart拥有现金3180万美元，总负债1.518亿美元。</blockquote></p><p> Free cash flow during the twelve months ended June 30, 2021, was $25.2 million.</p><p><blockquote>截至2021年6月30日的12个月内的自由现金流为2520万美元。</blockquote></p><p> <b>IPO Details</b></p><p><blockquote><b>IPO详情</b></blockquote></p><p> ESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.</p><p><blockquote>ESMT打算出售1300万股股票，出售股东将以每股24.00美元的拟议中中间价发行155万股普通股，总收益约为3.49亿美元，不包括出售惯常承销商期权。</blockquote></p><p> New potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.</p><p><blockquote>新的潜在投资者Dragoneer Investment Group已表示有兴趣购买此次发行的210万股股票，即按拟议中的中点价格购买约5040万美元。</blockquote></p><p> Assuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.</p><p><blockquote>假设在拟议价格范围的中点成功IPO，该公司IPO时的企业价值（前承销商期权）将约为37亿美元。</blockquote></p><p> Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.</p><p><blockquote>排除承销商期权和私募股份或限制性股票（如有）的影响，流通股与流通股的比率约为9.04%。低于10%的数字通常被认为是“低流通量”股票，可能会受到价格大幅波动的影响。</blockquote></p><p> Per the firm's most recent regulatory filing, it plans to use the net proceeds as follows:</p><p><blockquote>根据该公司最新的监管文件，它计划使用净收益如下：</blockquote></p><p>   We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.    Source: SEC  Management's presentation of the company roadshow isavailable here.</p><p><blockquote>我们预计将使用本次发行的净收益全额偿还我们信贷安排下约1.142亿美元的未偿借款。我们目前打算将本次发行的剩余净收益用于一般公司目的，包括为我们的增长提供资金、收购互补业务、产品、服务或技术、营运资金、运营费用和资本支出。资料来源：SEC管理层对公司路演的介绍可在此处获得。</blockquote></p><p> Regarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.</p><p><blockquote>关于未决法律诉讼，截至监管备案日，管理层未披露针对该公司的任何法律索赔。</blockquote></p><p> Listed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.</p><p><blockquote>此次IPO的上市承销商包括摩根大通、高盛、美银证券和其他投资银行。</blockquote></p><p> <b>Valuation Metrics</b></p><p><blockquote><b>估值指标</b></blockquote></p><p></p><p> Below is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p><p><blockquote>下表列出了该公司IPO时的相关资本化和估值指标，不包括承销商期权的影响：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Measure [TTM]</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>测量[TTM]</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Amount</b></p><p><blockquote><td><b>数量</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Market Capitalization at IPO</p><p><blockquote><tr><td>IPO时的市值</td></tr></blockquote></p><p></td>    <td>$3,862,956,720</p><p><blockquote><td>$3,862,956,720</td></blockquote></p><p></td>   </tr>   <tr>    <td>Enterprise Value</p><p><blockquote><tr><td>企业价值</td></tr></blockquote></p><p></td>    <td>$3,656,695,720</p><p><blockquote><td>$3,656,695,720</td></blockquote></p><p></td>   </tr>   <tr>    <td>Price / Sales</p><p><blockquote><tr><td>价格/销售额</td></tr></blockquote></p><p></td>    <td>21.09</p><p><blockquote><td>21.09</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / Revenue</p><p><blockquote><tr><td>EV/收入</td></tr></blockquote></p><p></td>    <td>19.96</p><p><blockquote><td>19.96</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / EBITDA</p><p><blockquote><tr><td>EV/EBITDA</td></tr></blockquote></p><p></td>    <td>377.37</p><p><blockquote><td>377.37</td></blockquote></p><p></td>   </tr>   <tr>    <td>Earnings Per Share</p><p><blockquote><tr><td>每股盈利</td></tr></blockquote></p><p></td>    <td>$0.00</p><p><blockquote><td>$0.00</td></blockquote></p><p></td>   </tr>   <tr>    <td>Float To Outstanding Shares Ratio</p><p><blockquote><tr><td>流通股与流通股比率</td></tr></blockquote></p><p></td>    <td>9.04%</p><p><blockquote><td>9.04%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Proposed IPO Midpoint Price per Share</p><p><blockquote><tr><td>建议IPO每股中点价格</td></tr></blockquote></p><p></td>    <td>$24.00</p><p><blockquote><td>$24.00</td></blockquote></p><p></td>   </tr>   <tr>    <td>Net Free Cash Flow</p><p><blockquote><tr><td>净自由现金流</td></tr></blockquote></p><p></td>    <td>$25,236,000</p><p><blockquote><td>$25,236,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>Free Cash Flow Yield Per Share</p><p><blockquote><tr><td>每股自由现金流收益率</td></tr></blockquote></p><p></td>    <td>0.65%</p><p><blockquote><td>0.65%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Revenue Growth Rate</p><p><blockquote><tr><td>收入增长率</td></tr></blockquote></p><p></td>    <td>58.59%</p><p><blockquote><td>58.59%</td></blockquote></p><p></td>   </tr>   <tr></tr>  </tbody> </table> Source: SEC</p><p><blockquote><tr></tr>资料来源：SEC</blockquote></p><p> As a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:</p><p><blockquote>作为参考，潜在的公共可比公司是NICE Ltd.；下图是其主要估值指标的比较：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Metric</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>公制</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Nice Ltd.</b></p><p><blockquote><td><b>尼斯有限公司。</b></td></blockquote></p><p></td>    <td><b>EngageSmart</b></p><p><blockquote><td><b>参与智能</b></td></blockquote></p><p></td>    <td><b>Variance</b></p><p><blockquote><td><b>差异</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Price / Sales</p><p><blockquote><tr><td>价格/销售额</td></tr></blockquote></p><p></td>    <td>11.01</p><p><blockquote><td>11.01</td></blockquote></p><p></td>    <td>21.09</p><p><blockquote><td>21.09</td></blockquote></p><p></td>    <td>91.5%</p><p><blockquote><td>91.5%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / Revenue</p><p><blockquote><tr><td>EV/收入</td></tr></blockquote></p><p></td>    <td>10.67</p><p><blockquote><td>10.67</td></blockquote></p><p></td>    <td>19.96</p><p><blockquote><td>19.96</td></blockquote></p><p></td>    <td>87.1%</p><p><blockquote><td>87.1%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / EBITDA</p><p><blockquote><tr><td>EV/EBITDA</td></tr></blockquote></p><p></td>    <td>41.73</p><p><blockquote><td>41.73</td></blockquote></p><p></td>    <td>377.37</p><p><blockquote><td>377.37</td></blockquote></p><p></td>    <td>804.3%</p><p><blockquote><td>804.3%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Earnings Per Share</p><p><blockquote><tr><td>每股盈利</td></tr></blockquote></p><p></td>    <td>$3.05</p><p><blockquote><td>$3.05</td></blockquote></p><p></td>    <td>$0.00</p><p><blockquote><td>$0.00</td></blockquote></p><p></td>    <td>-100.0%</p><p><blockquote><td>-100.0%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Revenue Growth Rate</p><p><blockquote><tr><td>收入增长率</td></tr></blockquote></p><p></td>    <td>5.3%</p><p><blockquote><td>5.3%</td></blockquote></p><p></td>    <td>58.59%</p><p><blockquote><td>58.59%</td></blockquote></p><p></td>    <td>1003.34%</p><p><blockquote><td>1003.34%</td></blockquote></p><p></td>   </tr>   <tr></tr>  </tbody> </table> (S-1/A andSeeking Alpha)</p><p><blockquote><tr></tr>（S-1/A和Seeking Alpha）</blockquote></p><p> <b>Commentary</b></p><p><blockquote><b>评论</b></blockquote></p><p> ESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.</p><p><blockquote>ESMT正在寻求公共投资来偿还债务及其未具体说明的总体企业增长计划。</blockquote></p><p> The firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.</p><p><blockquote>该公司的财务数据显示，随着运营现金流的增长，营业利润和小幅净利润增长强劲。</blockquote></p><p> Free cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.</p><p><blockquote>截至2021年6月30日的12个月的自由现金流为2520万美元。</blockquote></p><p> Selling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.</p><p><blockquote>随着收入的增加，销售和营销费用占总收入的百分比有所下降，其销售和营销效率在最近六个月的报告期内降至1.1倍。</blockquote></p><p> The company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p><p><blockquote>该公司的40法则表现出色，截至2020年12月31日止年度以美元计算的净收入保留率为124%，这是一个强劲的业绩。</blockquote></p><p> The market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.</p><p><blockquote>为企业提供客户参与软件的市场机会很大，预计到2026年底规模将翻一番，因此该公司将受益于强劲的行业增长动力。</blockquote></p><p> JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p><p><blockquote>摩根大通是主要承销商，该公司在过去12个月内牵头的IPO自IPO以来的平均回报率为20.4%。这是期内所有主要承销商的中等表现。</blockquote></p><p> The primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.</p><p><blockquote>该公司前景的主要风险是大型公司有能力将其部分服务捆绑到现有产品中，从而导致价格下行压力和竞争加剧。</blockquote></p><p> As for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.</p><p><blockquote>至于估值，与部分竞争对手NICE相比，ESMT的收入增长速度要快得多，因此其更高的收入倍数似乎是合理的。</blockquote></p><p> Also, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.</p><p><blockquote>此外，该公司的增长速度比竞争对手Pegasystems快得多，因此似乎正在从这些公司和其他公司手中夺取客户参与市场的市场份额。</blockquote></p><p> Given the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.</p><p><blockquote>鉴于该公司相对于竞争对手的强劲增长和运营指标，虽然IPO并不便宜，但值得考虑。</blockquote></p><p></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>EngageSmart opens for trading at $37, up about 43.6% from IPO price<blockquote>EngageSmart开盘价为37美元，较IPO价格上涨约43.6%</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\">\nEngageSmart opens for trading at $37, up about 43.6% from IPO price<blockquote>EngageSmart开盘价为37美元，较IPO价格上涨约43.6%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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 smaller\">2021-09-23 23:41</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Sept 23)&nbsp;<a href=\"https://laohu8.com/S/ESMT\">EngageSmart Inc.</a> opens for trading at $37, up about 43.6% from IPO price.</p><p><blockquote>（9月23日）<a href=\"https://laohu8.com/S/ESMT\">EngageSmart公司。</a>开盘价为37美元，较IPO价格上涨约43.6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/835bc9b4ff09e761852f27f75743b887\" tg-width=\"898\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>Company</b></p><p><blockquote><b>公司</b></blockquote></p><p> Braintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.</p><p><blockquote>总部位于马萨诸塞州布伦特里的EngageSmart成立的目的是开发一个平台，提高针对某些垂直行业的客户参与度。</blockquote></p><p> Management is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.</p><p><blockquote>管理层由创始人兼首席执行官Robert P.Bennett领导，他自公司成立以来一直在公司工作，此前曾担任Sage Payment Solutions总裁。</blockquote></p><p> The company's primary offerings include:</p><p><blockquote>该公司的主要产品包括：</blockquote></p><p> <ul>  <li>SimplePractice - Wellness</li>  <li>InvoiceCloud - Government, Utilities and Financial Services</li>  <li>HealthPay24 - Healthcare</li>  <li>DonorDrive - Non-profit and Corporate Fundraising</li> </ul> EngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.</p><p><blockquote><ul><li>简单实践-健康</li><li>InvoiceCloud–政府、公用事业和金融服务</li><li>HealthPay24-医疗保健</li><li>DonorDrive-非营利和企业筹款</li></ul>EngageSmart已从General Atlantic和Summit Partners等投资者那里获得了至少4.51亿美元的股权投资。</blockquote></p><p> <b>Customer Acquisition</b></p><p><blockquote><b>客户获取</b></blockquote></p><p> The firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.</p><p><blockquote>该公司通过其直销队伍和在线服务追求大型企业客户和中小型企业客户。</blockquote></p><p> As of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.</p><p><blockquote>截至2021年6月30日，该公司已为中小企业市场的68,000多家客户和企业解决方案领域的3,000多家客户提供服务。</blockquote></p><p> Selling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:</p><p><blockquote>销售和营销费用占总收入的百分比随着收入的增加而下降，如下图所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Selling and Marketing</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>销售及市场推广</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Expenses vs. Revenue</b></p><p><blockquote><td><b>费用与收入</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Percentage</p><p><blockquote><td>百分比</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>32.4%</p><p><blockquote><td>32.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>33.1%</p><p><blockquote><td>33.1%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>43.1%</p><p><blockquote><td>43.1%</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:</p><p><blockquote>销售和营销效率率（定义为每美元的销售和营销支出产生多少美元的额外新收入）在最近的报告期略有下降至1.1倍，如下表所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Selling and Marketing</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>销售及市场推广</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Efficiency Rate</b></p><p><blockquote><td><b>效率率</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Multiple</p><p><blockquote><td>多个的</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>1.1</p><p><blockquote><td>1.1</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>1.3</p><p><blockquote><td>1.3</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.</p><p><blockquote>40法则是软件行业的经验法则，只要收入增长率和EBITDA百分比等于或超过40%，公司就处于可接受的增长/EBITDA轨迹上。</blockquote></p><p> ESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:</p><p><blockquote>截至2021年6月30日，ESMT的最新计算结果为64%，因此该公司在这方面表现良好，如下表所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Rule of 40</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>40法则</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Calculation</b></p><p><blockquote><td><b>计算</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Recent Rev. Growth %</p><p><blockquote><tr><td>近期收入增长%</td></tr></blockquote></p><p></td>    <td>59%</p><p><blockquote><td>59%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EBITDA %</p><p><blockquote><tr><td>EBITDA%</td></tr></blockquote></p><p></td>    <td>5%</p><p><blockquote><td>5%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Total</p><p><blockquote><tr><td>总的</td></tr></blockquote></p><p></td>    <td>64%</p><p><blockquote><td>64%</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p><p><blockquote>截至2020年12月31日，该公司以美元计算的净收入保留率为124%，这是一个强劲的业绩。</blockquote></p><p> The dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.</p><p><blockquote>基于美元的净收入保留率指标衡量随着时间的推移，每个客户群产生了多少额外收入，因此超过100%的数字意味着公司随着时间的推移从同一客户群产生了更多收入，表明良好的产品/市场契合度以及高效的销售和营销工作。</blockquote></p><p> <b>Market &amp; Competition</b></p><p><blockquote><b>市场与竞争</b></blockquote></p><p> According to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.</p><p><blockquote>根据Mordor Intelligence的2021年市场研究报告，2020年全球客户参与解决方案市场规模估计为155亿美元，预计到2026年将达到309亿美元。</blockquote></p><p> This represents a forecast CAGR of 12.65% from 2021 to 2026.</p><p><blockquote>这意味着2021年至2026年的预测复合年增长率为12.65%。</blockquote></p><p> The main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.</p><p><blockquote>这一预期增长的主要驱动力是技术解决方案的增长，以改善客户通过他们用来与企业联系的任何设备的旅程。</blockquote></p><p> Also, a desire to reduce customer churn rate results in improved business financials and growing valuation.</p><p><blockquote>此外，降低客户流失率的愿望会导致企业财务状况的改善和估值的增长。</blockquote></p><p> Below is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:</p><p><blockquote>下图显示了2018年美国不同行业客户流失率的变化：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f1066adb602d05e4e99630aacf61e1c5\" tg-width=\"1060\" tg-height=\"922\" referrerpolicy=\"no-referrer\">Major competitive or other industry participants include:</p><p><blockquote>主要竞争对手或其他行业参与者包括：</blockquote></p><p> <ul>  <li>IBM(NYSE:IBM)</p><p><blockquote><ul><li>IBM（纽约证券交易所代码：IBM）</li></ul></blockquote></p><p></li>  <li>Microsoft(NASDAQ:MSFT)</p><p><blockquote><li>微软（纳斯达克：MSFT）</li></blockquote></p><p></li>  <li>Nuance(NASDAQ:NUAN)</p><p><blockquote><li>细微差别（纳斯达克：暖）</li></blockquote></p><p></li>  <li>Oracle(NYSE:ORCL)</p><p><blockquote><li>甲骨文（纽约证券交易所代码：ORCL）</li></blockquote></p><p></li>  <li>Salesforce(NYSE:CRM)</p><p><blockquote><li>Salesforce（纽约证券交易所代码：CRM）</li></blockquote></p><p></li>  <li>Avaya(NYSE:AVYA)</p><p><blockquote><li>Avaya（纽约证券交易所代码：AVYA）</li></blockquote></p><p></li>  <li>Calabrio</p><p><blockquote><li>卡拉布里奥</li></blockquote></p><p></li>  <li>Aspect Software</p><p><blockquote><li>Aspect软件</li></blockquote></p><p></li>  <li>Genesys</p><p><blockquote><li>创世纪</li></blockquote></p><p></li>  <li>Verint Systems(NASDAQ:VRNT)</p><p><blockquote><li>Verint Systems（纳斯达克：VRNT）</li></blockquote></p><p></li>  <li>NICE Ltd.(NASDAQ:NICE)</p><p><blockquote><li>尼斯有限公司（纳斯达克：NICE）</li></blockquote></p><p></li>  <li>OpenText</p><p><blockquote><li>OpenText</li></blockquote></p><p></li>  <li>Pegasystems(NASDAQ:PEGA)</p><p><blockquote><li>飞马系统（纳斯达克：PEGA）</li></blockquote></p><p></li>  <li>Others</p><p><blockquote><li>其他</li></blockquote></p><p></p><p></li> </ul> <b>Financial Performance</b></p><p><blockquote><b>财务表现</b></blockquote></p><p> EngageSmart's recent financial results can be summarized as follows:</p><p><blockquote>EngageSmart最近的财务业绩可总结如下：</blockquote></p><p> <ul>  <li>Growing topline revenue</p><p><blockquote><ul><li>营收不断增长</li></ul></blockquote></p><p></li>  <li>Increasing gross profit and high gross margin</p><p><blockquote><li>毛利增加，毛利率高</li></blockquote></p><p></li>  <li>Growing operating profit and net income</p><p><blockquote><li>营业利润和净利润不断增长</li></blockquote></p><p></li>  <li>Increasing cash flow from operations</p><p><blockquote><li>增加经营现金流</li></blockquote></p><p></li> </ul> Below are relevant financial results derived from the firm's registration statement:</p><p><blockquote>以下是来自公司注册声明的相关财务业绩：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Total Revenue</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>收入总额</b></td></tr></tbody></table></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Total Revenue</p><p><blockquote><td>收入总额</td></blockquote></p><p></td>    <td>% Variance vs. Prior</p><p><blockquote><td>与既往相比的%差异</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 99,171,000</p><p><blockquote><td>$99,171,000</td></blockquote></p><p></td>    <td>58.6%</p><p><blockquote><td>58.6%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 146,557,000</p><p><blockquote><td>$146,557,000</td></blockquote></p><p></td>    <td>77.8%</p><p><blockquote><td>77.8%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ 82,432,000</p><p><blockquote><td>$82,432,000</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Gross Profit (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>毛利（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Gross Profit (Loss)</p><p><blockquote><td>毛利（亏损）</td></blockquote></p><p></td>    <td>% Variance vs. Prior</p><p><blockquote><td>与既往差异%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 73,673,000</p><p><blockquote><td>$73,673,000</td></blockquote></p><p></td>    <td>61.4%</p><p><blockquote><td>61.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 108,964,000</p><p><blockquote><td>$108,964,000</td></blockquote></p><p></td>    <td>89.2%</p><p><blockquote><td>89.2%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ 57,591,000</p><p><blockquote><td>$57,591,000</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Gross Margin</b></p><p><blockquote><tr></tr><tr><td><b>毛利率</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Gross Margin</p><p><blockquote><td>毛利率</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>74.29%</p><p><blockquote><td>74.29%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>74.35%</p><p><blockquote><td>74.35%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>69.86%</p><p><blockquote><td>69.86%</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Operating Profit (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>经营溢利（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Operating Profit (Loss)</p><p><blockquote><td>经营溢利（亏损）</td></blockquote></p><p></td>    <td>Operating Margin</p><p><blockquote><td>营业利润率</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 5,001,000</p><p><blockquote><td>$5,001,000</td></blockquote></p><p></td>    <td>5.0%</p><p><blockquote><td>5.0%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 648,000</p><p><blockquote><td>$648,000</td></blockquote></p><p></td>    <td>0.4%</p><p><blockquote><td>0.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (50,398,000)</p><p><blockquote><td>$(50,398,000)</td></blockquote></p><p></td>    <td>-61.1%</p><p><blockquote><td>-61.1%</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Net Income (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>净利润（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Net Income (Loss)</p><p><blockquote><td>净利润（亏损）</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 274,000</p><p><blockquote><td>$274,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ (6,678,000)</p><p><blockquote><td>$(6,678,000)</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (53,598,000)</p><p><blockquote><td>$(53,598,000)</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Cash Flow From Operations</b></p><p><blockquote><tr></tr><tr><td><b>经营所得现金流量</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Cash Flow From Operations</p><p><blockquote><td>经营所得现金流量</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 12,044,000</p><p><blockquote><td>$12,044,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 19,645,000</p><p><blockquote><td>$19,645,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (1,427,000)</p><p><blockquote><td>$(1,427,000)</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td>(Glossary Of Terms)</p><p><blockquote><tr></tr><tr><td>（术语表）</td></tr></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> As of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.</p><p><blockquote>截至2021年6月30日，EngageSmart拥有现金3180万美元，总负债1.518亿美元。</blockquote></p><p> Free cash flow during the twelve months ended June 30, 2021, was $25.2 million.</p><p><blockquote>截至2021年6月30日的12个月内的自由现金流为2520万美元。</blockquote></p><p> <b>IPO Details</b></p><p><blockquote><b>IPO详情</b></blockquote></p><p> ESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.</p><p><blockquote>ESMT打算出售1300万股股票，出售股东将以每股24.00美元的拟议中中间价发行155万股普通股，总收益约为3.49亿美元，不包括出售惯常承销商期权。</blockquote></p><p> New potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.</p><p><blockquote>新的潜在投资者Dragoneer Investment Group已表示有兴趣购买此次发行的210万股股票，即按拟议中的中点价格购买约5040万美元。</blockquote></p><p> Assuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.</p><p><blockquote>假设在拟议价格范围的中点成功IPO，该公司IPO时的企业价值（前承销商期权）将约为37亿美元。</blockquote></p><p> Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.</p><p><blockquote>排除承销商期权和私募股份或限制性股票（如有）的影响，流通股与流通股的比率约为9.04%。低于10%的数字通常被认为是“低流通量”股票，可能会受到价格大幅波动的影响。</blockquote></p><p> Per the firm's most recent regulatory filing, it plans to use the net proceeds as follows:</p><p><blockquote>根据该公司最新的监管文件，它计划使用净收益如下：</blockquote></p><p>   We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.    Source: SEC  Management's presentation of the company roadshow isavailable here.</p><p><blockquote>我们预计将使用本次发行的净收益全额偿还我们信贷安排下约1.142亿美元的未偿借款。我们目前打算将本次发行的剩余净收益用于一般公司目的，包括为我们的增长提供资金、收购互补业务、产品、服务或技术、营运资金、运营费用和资本支出。资料来源：SEC管理层对公司路演的介绍可在此处获得。</blockquote></p><p> Regarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.</p><p><blockquote>关于未决法律诉讼，截至监管备案日，管理层未披露针对该公司的任何法律索赔。</blockquote></p><p> Listed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.</p><p><blockquote>此次IPO的上市承销商包括摩根大通、高盛、美银证券和其他投资银行。</blockquote></p><p> <b>Valuation Metrics</b></p><p><blockquote><b>估值指标</b></blockquote></p><p></p><p> Below is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p><p><blockquote>下表列出了该公司IPO时的相关资本化和估值指标，不包括承销商期权的影响：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Measure [TTM]</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>测量[TTM]</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Amount</b></p><p><blockquote><td><b>数量</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Market Capitalization at IPO</p><p><blockquote><tr><td>IPO时的市值</td></tr></blockquote></p><p></td>    <td>$3,862,956,720</p><p><blockquote><td>$3,862,956,720</td></blockquote></p><p></td>   </tr>   <tr>    <td>Enterprise Value</p><p><blockquote><tr><td>企业价值</td></tr></blockquote></p><p></td>    <td>$3,656,695,720</p><p><blockquote><td>$3,656,695,720</td></blockquote></p><p></td>   </tr>   <tr>    <td>Price / Sales</p><p><blockquote><tr><td>价格/销售额</td></tr></blockquote></p><p></td>    <td>21.09</p><p><blockquote><td>21.09</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / Revenue</p><p><blockquote><tr><td>EV/收入</td></tr></blockquote></p><p></td>    <td>19.96</p><p><blockquote><td>19.96</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / EBITDA</p><p><blockquote><tr><td>EV/EBITDA</td></tr></blockquote></p><p></td>    <td>377.37</p><p><blockquote><td>377.37</td></blockquote></p><p></td>   </tr>   <tr>    <td>Earnings Per Share</p><p><blockquote><tr><td>每股盈利</td></tr></blockquote></p><p></td>    <td>$0.00</p><p><blockquote><td>$0.00</td></blockquote></p><p></td>   </tr>   <tr>    <td>Float To Outstanding Shares Ratio</p><p><blockquote><tr><td>流通股与流通股比率</td></tr></blockquote></p><p></td>    <td>9.04%</p><p><blockquote><td>9.04%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Proposed IPO Midpoint Price per Share</p><p><blockquote><tr><td>建议IPO每股中点价格</td></tr></blockquote></p><p></td>    <td>$24.00</p><p><blockquote><td>$24.00</td></blockquote></p><p></td>   </tr>   <tr>    <td>Net Free Cash Flow</p><p><blockquote><tr><td>净自由现金流</td></tr></blockquote></p><p></td>    <td>$25,236,000</p><p><blockquote><td>$25,236,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>Free Cash Flow Yield Per Share</p><p><blockquote><tr><td>每股自由现金流收益率</td></tr></blockquote></p><p></td>    <td>0.65%</p><p><blockquote><td>0.65%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Revenue Growth Rate</p><p><blockquote><tr><td>收入增长率</td></tr></blockquote></p><p></td>    <td>58.59%</p><p><blockquote><td>58.59%</td></blockquote></p><p></td>   </tr>   <tr></tr>  </tbody> </table> Source: SEC</p><p><blockquote><tr></tr>资料来源：SEC</blockquote></p><p> As a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:</p><p><blockquote>作为参考，潜在的公共可比公司是NICE Ltd.；下图是其主要估值指标的比较：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Metric</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>公制</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Nice Ltd.</b></p><p><blockquote><td><b>尼斯有限公司。</b></td></blockquote></p><p></td>    <td><b>EngageSmart</b></p><p><blockquote><td><b>参与智能</b></td></blockquote></p><p></td>    <td><b>Variance</b></p><p><blockquote><td><b>差异</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Price / Sales</p><p><blockquote><tr><td>价格/销售额</td></tr></blockquote></p><p></td>    <td>11.01</p><p><blockquote><td>11.01</td></blockquote></p><p></td>    <td>21.09</p><p><blockquote><td>21.09</td></blockquote></p><p></td>    <td>91.5%</p><p><blockquote><td>91.5%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / Revenue</p><p><blockquote><tr><td>EV/收入</td></tr></blockquote></p><p></td>    <td>10.67</p><p><blockquote><td>10.67</td></blockquote></p><p></td>    <td>19.96</p><p><blockquote><td>19.96</td></blockquote></p><p></td>    <td>87.1%</p><p><blockquote><td>87.1%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / EBITDA</p><p><blockquote><tr><td>EV/EBITDA</td></tr></blockquote></p><p></td>    <td>41.73</p><p><blockquote><td>41.73</td></blockquote></p><p></td>    <td>377.37</p><p><blockquote><td>377.37</td></blockquote></p><p></td>    <td>804.3%</p><p><blockquote><td>804.3%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Earnings Per Share</p><p><blockquote><tr><td>每股盈利</td></tr></blockquote></p><p></td>    <td>$3.05</p><p><blockquote><td>$3.05</td></blockquote></p><p></td>    <td>$0.00</p><p><blockquote><td>$0.00</td></blockquote></p><p></td>    <td>-100.0%</p><p><blockquote><td>-100.0%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Revenue Growth Rate</p><p><blockquote><tr><td>收入增长率</td></tr></blockquote></p><p></td>    <td>5.3%</p><p><blockquote><td>5.3%</td></blockquote></p><p></td>    <td>58.59%</p><p><blockquote><td>58.59%</td></blockquote></p><p></td>    <td>1003.34%</p><p><blockquote><td>1003.34%</td></blockquote></p><p></td>   </tr>   <tr></tr>  </tbody> </table> (S-1/A andSeeking Alpha)</p><p><blockquote><tr></tr>（S-1/A和Seeking Alpha）</blockquote></p><p> <b>Commentary</b></p><p><blockquote><b>评论</b></blockquote></p><p> ESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.</p><p><blockquote>ESMT正在寻求公共投资来偿还债务及其未具体说明的总体企业增长计划。</blockquote></p><p> The firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.</p><p><blockquote>该公司的财务数据显示，随着运营现金流的增长，营业利润和小幅净利润增长强劲。</blockquote></p><p> Free cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.</p><p><blockquote>截至2021年6月30日的12个月的自由现金流为2520万美元。</blockquote></p><p> Selling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.</p><p><blockquote>随着收入的增加，销售和营销费用占总收入的百分比有所下降，其销售和营销效率在最近六个月的报告期内降至1.1倍。</blockquote></p><p> The company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p><p><blockquote>该公司的40法则表现出色，截至2020年12月31日止年度以美元计算的净收入保留率为124%，这是一个强劲的业绩。</blockquote></p><p> The market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.</p><p><blockquote>为企业提供客户参与软件的市场机会很大，预计到2026年底规模将翻一番，因此该公司将受益于强劲的行业增长动力。</blockquote></p><p> JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p><p><blockquote>摩根大通是主要承销商，该公司在过去12个月内牵头的IPO自IPO以来的平均回报率为20.4%。这是期内所有主要承销商的中等表现。</blockquote></p><p> The primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.</p><p><blockquote>该公司前景的主要风险是大型公司有能力将其部分服务捆绑到现有产品中，从而导致价格下行压力和竞争加剧。</blockquote></p><p> As for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.</p><p><blockquote>至于估值，与部分竞争对手NICE相比，ESMT的收入增长速度要快得多，因此其更高的收入倍数似乎是合理的。</blockquote></p><p> Also, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.</p><p><blockquote>此外，该公司的增长速度比竞争对手Pegasystems快得多，因此似乎正在从这些公司和其他公司手中夺取客户参与市场的市场份额。</blockquote></p><p> Given the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.</p><p><blockquote>鉴于该公司相对于竞争对手的强劲增长和运营指标，虽然IPO并不便宜，但值得考虑。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ESMT":"EngageSmart Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159478468","content_text":"(Sept 23) EngageSmart Inc. opens for trading at $37, up about 43.6% from IPO price.\n\nCompany\nBraintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.\nManagement is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.\nThe company's primary offerings include:\n\nSimplePractice - Wellness\nInvoiceCloud - Government, Utilities and Financial Services\nHealthPay24 - Healthcare\nDonorDrive - Non-profit and Corporate Fundraising\n\nEngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.\nCustomer Acquisition\nThe firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.\nAs of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.\nSelling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:\n\n\n\n\nSelling and Marketing\nExpenses vs. Revenue\n\n\nPeriod\nPercentage\n\n\nSix Mos. Ended June 30, 2021\n32.4%\n\n\n2020\n33.1%\n\n\n2019\n43.1%\n\n\n\nSource: SEC\nThe Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:\n\n\n\n\nSelling and Marketing\nEfficiency Rate\n\n\nPeriod\nMultiple\n\n\nSix Mos. Ended June 30, 2021\n1.1\n\n\n2020\n1.3\n\n\n\nSource: SEC\nThe Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.\nESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:\n\n\n\n\nRule of 40\nCalculation\n\n\nRecent Rev. Growth %\n59%\n\n\nEBITDA %\n5%\n\n\nTotal\n64%\n\n\n\nSource: SEC\nThe firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.\nThe dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.\nMarket & Competition\nAccording to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.\nThis represents a forecast CAGR of 12.65% from 2021 to 2026.\nThe main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.\nAlso, a desire to reduce customer churn rate results in improved business financials and growing valuation.\nBelow is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:\nMajor competitive or other industry participants include:\n\nIBM(NYSE:IBM)\nMicrosoft(NASDAQ:MSFT)\nNuance(NASDAQ:NUAN)\nOracle(NYSE:ORCL)\nSalesforce(NYSE:CRM)\nAvaya(NYSE:AVYA)\nCalabrio\nAspect Software\nGenesys\nVerint Systems(NASDAQ:VRNT)\nNICE Ltd.(NASDAQ:NICE)\nOpenText\nPegasystems(NASDAQ:PEGA)\nOthers\n\nFinancial Performance\nEngageSmart's recent financial results can be summarized as follows:\n\nGrowing topline revenue\nIncreasing gross profit and high gross margin\nGrowing operating profit and net income\nIncreasing cash flow from operations\n\nBelow are relevant financial results derived from the firm's registration statement:\n\n\n\n\nTotal Revenue\n\n\nPeriod\nTotal Revenue\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 99,171,000\n58.6%\n\n\n2020\n$ 146,557,000\n77.8%\n\n\n2019\n$ 82,432,000\n\n\n\nGross Profit (Loss)\n\n\nPeriod\nGross Profit (Loss)\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 73,673,000\n61.4%\n\n\n2020\n$ 108,964,000\n89.2%\n\n\n2019\n$ 57,591,000\n\n\n\nGross Margin\n\n\nPeriod\nGross Margin\n\n\nSix Mos. Ended June 30, 2021\n74.29%\n\n\n2020\n74.35%\n\n\n2019\n69.86%\n\n\n\nOperating Profit (Loss)\n\n\nPeriod\nOperating Profit (Loss)\nOperating Margin\n\n\nSix Mos. Ended June 30, 2021\n$ 5,001,000\n5.0%\n\n\n2020\n$ 648,000\n0.4%\n\n\n2019\n$ (50,398,000)\n-61.1%\n\n\n\nNet Income (Loss)\n\n\nPeriod\nNet Income (Loss)\n\n\nSix Mos. Ended June 30, 2021\n$ 274,000\n\n\n2020\n$ (6,678,000)\n\n\n2019\n$ (53,598,000)\n\n\n\nCash Flow From Operations\n\n\nPeriod\nCash Flow From Operations\n\n\nSix Mos. Ended June 30, 2021\n$ 12,044,000\n\n\n2020\n$ 19,645,000\n\n\n2019\n$ (1,427,000)\n\n\n\n(Glossary Of Terms)\n\n\n\nSource: SEC\nAs of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.\nFree cash flow during the twelve months ended June 30, 2021, was $25.2 million.\nIPO Details\nESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.\nNew potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.\nAssuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.\nPer the firm's most recent regulatory filing, it plans to use the net proceeds as follows:\n\n We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.\n\n\n Source: SEC\n\nManagement's presentation of the company roadshow isavailable here.\nRegarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.\nListed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.\nValuation Metrics\nBelow is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:\n\n\n\n\nMeasure [TTM]\nAmount\n\n\nMarket Capitalization at IPO\n$3,862,956,720\n\n\nEnterprise Value\n$3,656,695,720\n\n\nPrice / Sales\n21.09\n\n\nEV / Revenue\n19.96\n\n\nEV / EBITDA\n377.37\n\n\nEarnings Per Share\n$0.00\n\n\nFloat To Outstanding Shares Ratio\n9.04%\n\n\nProposed IPO Midpoint Price per Share\n$24.00\n\n\nNet Free Cash Flow\n$25,236,000\n\n\nFree Cash Flow Yield Per Share\n0.65%\n\n\nRevenue Growth Rate\n58.59%\n\n\n\n\nSource: SEC\nAs a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:\n\n\n\n\nMetric\nNice Ltd.\nEngageSmart\nVariance\n\n\nPrice / Sales\n11.01\n21.09\n91.5%\n\n\nEV / Revenue\n10.67\n19.96\n87.1%\n\n\nEV / EBITDA\n41.73\n377.37\n804.3%\n\n\nEarnings Per Share\n$3.05\n$0.00\n-100.0%\n\n\nRevenue Growth Rate\n5.3%\n58.59%\n1003.34%\n\n\n\n\n(S-1/A andSeeking Alpha)\nCommentary\nESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.\nThe firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.\nFree cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.\nSelling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.\nThe company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.\nThe market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.\nJPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.\nThe primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.\nAs for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.\nAlso, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.\nGiven the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.","news_type":1,"symbols_score_info":{"ESMT":0.9}},"isVote":1,"tweetType":1,"viewCount":636,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":869427331,"gmtCreate":1632318298823,"gmtModify":1632801287812,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Go go go!","listText":"Go go go!","text":"Go go go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/869427331","repostId":"1146187405","repostType":4,"isVote":1,"tweetType":1,"viewCount":644,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887565006,"gmtCreate":1632067028805,"gmtModify":1632803046234,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Yeah WFH is great!","listText":"Yeah WFH is great!","text":"Yeah WFH is great!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/887565006","repostId":"2168152508","repostType":4,"isVote":1,"tweetType":1,"viewCount":1142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887912518,"gmtCreate":1631957258234,"gmtModify":1632805085645,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Prices to go up?","listText":"Prices to go up?","text":"Prices to go up?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/887912518","repostId":"2168574191","repostType":4,"isVote":1,"tweetType":1,"viewCount":531,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885521130,"gmtCreate":1631804332120,"gmtModify":1631888786987,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Should we buy or wait???","listText":"Should we buy or wait???","text":"Should we buy or wait???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/885521130","repostId":"2167951084","repostType":4,"isVote":1,"tweetType":1,"viewCount":604,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886032559,"gmtCreate":1631537237171,"gmtModify":1631888786999,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Time to buy?","listText":"Time to buy?","text":"Time to buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/886032559","repostId":"1129341543","repostType":4,"repost":{"id":"1129341543","kind":"news","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":1631534652,"share":"https://www.laohu8.com/m/news/1129341543?lang=zh_CN&edition=full","pubTime":"2021-09-13 20:04","market":"us","language":"en","title":"Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129341543","media":"Tiger Newspress","summary":"U.S. stock index futures rose on Monday after the S&P 500 logged its worst week in more than two mon","content":"<p>U.S. stock index futures rose on Monday after the S&amp;P 500 logged its worst week in more than two months, with investors keeping a close eye on inflation as well as monetary and tax policies.</p><p><blockquote>美国股指期货周一上涨，此前标普500录得两个多月来最糟糕的一周，投资者密切关注通胀以及货币和税收政策。</blockquote></p><p> S&amp;P 500 E-minis were up 23.25 points, or 0.52% at 08:00 am ET. Dow E-minis were up 183 points, or 0.53%, while Nasdaq 100 E-minis were up 75 points, or 0.49%.</p><p><blockquote>截至美国东部时间上午08:00，标普500 e-mini上涨23.25点，即0.52%。道琼斯电子迷你指数上涨183点，涨幅0.53%，纳斯达克100电子迷你指数上涨75点，涨幅0.49%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2d51dd22d532e1b98f0ecae05c1f7a3e\" tg-width=\"1080\" tg-height=\"416\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Apple Inc rose 0.9% in premarket trading after a mixed court ruling in Epic Games’ antitrust case against the iPhone maker knocked nearly $90 billion off its market value on Friday.</p><p><blockquote>周五，法院对Epic Games针对iPhone制造商的反垄断案做出了好坏参半的裁决，导致苹果公司市值缩水近900亿美元，该公司在盘前交易中上涨0.9%。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>Virgin Galactic(SPCE)</b> – Virgin Galactic is delaying its first commercial research space mission after a third-party supplier warned of a potential defect in a component of the flight control system. Virgin Galactic shares slid 3.3% in the premarket.</p><p><blockquote><b>维珍银河(SPCE)</b>-在第三方供应商警告飞行控制系统的一个组件存在潜在缺陷后，维珍银河推迟了其首次商业研究太空任务。维珍银河股价盘前下跌3.3%。</blockquote></p><p> <b>Dell Technologies(DELL) </b>– Dell added 1.9% in premarket action after Goldman Sachs added the computer maker’s stock to its “Conviction Buy” list. Goldman cited strong cash flow generation and debt paydown plans, among other factors.</p><p><blockquote><b>戴尔科技(DELL)</b>-高盛将戴尔的股票添加到其“坚定买入”名单后，戴尔在盘前股价上涨1.9%。高盛列举了强劲的现金流生成和债务偿还计划等因素。</blockquote></p><p> <b>TransUnion(TRU)</b> – TransUnion announced a deal to buy closely held information services company Neustar for $3.1 billion in cash. The credit reporting agency expects the deal to close during the fourth quarter.</p><p><blockquote><b>TransUnion(TRU)</b>–TransUnion宣布以31亿美元现金收购少数人持股的信息服务公司Neustar的交易。该信用报告机构预计该交易将在第四季度完成。</blockquote></p><p> <b>Viacom(VIAC) </b>– Viacom is planning a revamp of its Paramount Pictures unit, according to people familiar with the matter who spoke to The Wall Street Journal. The revamp, which would separate the TV and film operations, could be announced as soon as today. Viacom rose 1% in the premarket.</p><p><blockquote><b>维亚康姆(VIAC)</b>-据接受《华尔街日报》采访的知情人士透露，维亚康姆正计划对其派拉蒙影业部门进行重组。这项改革将把电视和电影业务分开，最早可能在今天宣布。维亚康姆盘前上涨1%。</blockquote></p><p> <b>Kansas City Southern(KSU)</b> – Kansas City Southern said&nbsp;the latest takeover bid&nbsp;from&nbsp;Canadian Pacific Railway(CP) is superior to the one it previously agreed to with&nbsp;Canadian National Railway(CNI). Canadian National now has five days to improve its offer, should it choose to do so. Canadian Pacific rallied 0.9% in premarket trading.</p><p><blockquote><b>堪萨斯城南部(KSU)</b>-堪萨斯城南方公司表示，加拿大太平洋铁路公司（CP）的最新收购要约优于此前与加拿大国家铁路公司（CNI）达成的收购要约。如果加拿大国民银行选择这样做，它现在有五天的时间来提高其报价。加拿大太平洋航空在盘前交易中上涨0.9%。</blockquote></p><p> <b>Walt Disney(DIS)</b> – Disney will show the remainder of its 2021 movie releases exclusively in theaters, rather than making them simultaneously available on its Disney+ streaming service. Disney’s “Shang-Chi and the Legend of the 10 Rings” topped the weekend box office once again following its record Labor Day weekend performance, with that movie showing exclusively in theaters.</p><p><blockquote><b>华特迪士尼(DIS)</b>-迪士尼将在影院独家放映2021年上映的剩余电影，而不是在其Disney+流媒体服务上同时播放。迪士尼的《尚气与十环传奇》继劳动节周末创纪录的表现后，再次荣登周末票房榜首，这部电影仅在影院上映。</blockquote></p><p> <b>Alibaba(BABA)</b> – Alibaba fell 1.7% in premarket action.</p><p><blockquote><b>阿里巴巴-SW（父亲）</b>-阿里巴巴-SW盘前下跌1.7%。</blockquote></p><p> <b>Apple(AAPL)</b> – Epic Games will appeal Friday’s ruling that Apple’s app store was not an illegal monopoly. Epic did win a partial victory in the case, with the judge ruling that Apple must allow developers to include external payment links.</p><p><blockquote><b>苹果(AAPL)</b>-Epic Games将对周五的裁决提出上诉，该裁决认为苹果的app store不是非法垄断。Epic在此案中确实取得了部分胜利，法官裁定苹果必须允许开发者包含外部支付链接。</blockquote></p><p> <b>Carlyle Group(CG)</b> – Carlyle is considering a $6 billion sale or initial public offering for packaging company Novolex, according to a Bloomberg report. The private-equity firm bought Novolex for an undisclosed amount in November 2016.</p><p><blockquote><b>凯雷集团(CG)</b>-据彭博社报道，凯雷正在考虑以60亿美元的价格出售或首次公开募股包装公司Novolex。这家私募股权公司于2016年11月收购了Novolex，收购金额未公开。</blockquote></p><p> <b>MGM Resorts(MGM)</b> – MGM rose 1.5% in the premarket after Bernstein upgraded the resort operator’s stock to “outperform” from “market perform,” citing its strong presence in the gaming and sports betting industry as well as moves to divest the company’s real estate portfolio.</p><p><blockquote><b>美高梅度假村(MGM)</b>-米高梅在盘前上涨1.5%，此前伯恩斯坦将这家度假村运营商的股票从“大盘表现”上调至“跑赢大盘”，理由是该公司在博彩和体育博彩行业的强大影响力以及剥离该公司房地产投资组合的举措。</blockquote></p><p> <b>Pfizer(PFE) </b>– Pfizer’s Covid-19 vaccine – developed in conjunction with German partner&nbsp;BioNTech(BNTX) – could be authorized for use in children aged 5-11 as soon as next month, according to two sources familiar with the situation who spoke to Reuters. Pfizer is expected to have enough study data by then to submit an application for emergency use authorization to the Food and Drug Administration. BioNTech added 1.1% in premarket trading.</p><p><blockquote><b>辉瑞(PFE)</b>-据两位知情人士向路透社透露，辉瑞与德国合作伙伴BioNTech(BNTX)联合开发的Covid-19疫苗最早可能于下个月被授权用于5-11岁的儿童。辉瑞预计届时将有足够的研究数据向食品药品监督管理局提交紧急使用授权申请。BioNTech在盘前交易中上涨1.1%。</blockquote></p><p></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>Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</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\">\nToplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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 smaller\">2021-09-13 20:04</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>U.S. stock index futures rose on Monday after the S&amp;P 500 logged its worst week in more than two months, with investors keeping a close eye on inflation as well as monetary and tax policies.</p><p><blockquote>美国股指期货周一上涨，此前标普500录得两个多月来最糟糕的一周，投资者密切关注通胀以及货币和税收政策。</blockquote></p><p> S&amp;P 500 E-minis were up 23.25 points, or 0.52% at 08:00 am ET. Dow E-minis were up 183 points, or 0.53%, while Nasdaq 100 E-minis were up 75 points, or 0.49%.</p><p><blockquote>截至美国东部时间上午08:00，标普500 e-mini上涨23.25点，即0.52%。道琼斯电子迷你指数上涨183点，涨幅0.53%，纳斯达克100电子迷你指数上涨75点，涨幅0.49%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2d51dd22d532e1b98f0ecae05c1f7a3e\" tg-width=\"1080\" tg-height=\"416\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Apple Inc rose 0.9% in premarket trading after a mixed court ruling in Epic Games’ antitrust case against the iPhone maker knocked nearly $90 billion off its market value on Friday.</p><p><blockquote>周五，法院对Epic Games针对iPhone制造商的反垄断案做出了好坏参半的裁决，导致苹果公司市值缩水近900亿美元，该公司在盘前交易中上涨0.9%。</blockquote></p><p> <b>Stocks making the biggest moves in the premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>Virgin Galactic(SPCE)</b> – Virgin Galactic is delaying its first commercial research space mission after a third-party supplier warned of a potential defect in a component of the flight control system. Virgin Galactic shares slid 3.3% in the premarket.</p><p><blockquote><b>维珍银河(SPCE)</b>-在第三方供应商警告飞行控制系统的一个组件存在潜在缺陷后，维珍银河推迟了其首次商业研究太空任务。维珍银河股价盘前下跌3.3%。</blockquote></p><p> <b>Dell Technologies(DELL) </b>– Dell added 1.9% in premarket action after Goldman Sachs added the computer maker’s stock to its “Conviction Buy” list. Goldman cited strong cash flow generation and debt paydown plans, among other factors.</p><p><blockquote><b>戴尔科技(DELL)</b>-高盛将戴尔的股票添加到其“坚定买入”名单后，戴尔在盘前股价上涨1.9%。高盛列举了强劲的现金流生成和债务偿还计划等因素。</blockquote></p><p> <b>TransUnion(TRU)</b> – TransUnion announced a deal to buy closely held information services company Neustar for $3.1 billion in cash. The credit reporting agency expects the deal to close during the fourth quarter.</p><p><blockquote><b>TransUnion(TRU)</b>–TransUnion宣布以31亿美元现金收购少数人持股的信息服务公司Neustar的交易。该信用报告机构预计该交易将在第四季度完成。</blockquote></p><p> <b>Viacom(VIAC) </b>– Viacom is planning a revamp of its Paramount Pictures unit, according to people familiar with the matter who spoke to The Wall Street Journal. The revamp, which would separate the TV and film operations, could be announced as soon as today. Viacom rose 1% in the premarket.</p><p><blockquote><b>维亚康姆(VIAC)</b>-据接受《华尔街日报》采访的知情人士透露，维亚康姆正计划对其派拉蒙影业部门进行重组。这项改革将把电视和电影业务分开，最早可能在今天宣布。维亚康姆盘前上涨1%。</blockquote></p><p> <b>Kansas City Southern(KSU)</b> – Kansas City Southern said&nbsp;the latest takeover bid&nbsp;from&nbsp;Canadian Pacific Railway(CP) is superior to the one it previously agreed to with&nbsp;Canadian National Railway(CNI). Canadian National now has five days to improve its offer, should it choose to do so. Canadian Pacific rallied 0.9% in premarket trading.</p><p><blockquote><b>堪萨斯城南部(KSU)</b>-堪萨斯城南方公司表示，加拿大太平洋铁路公司（CP）的最新收购要约优于此前与加拿大国家铁路公司（CNI）达成的收购要约。如果加拿大国民银行选择这样做，它现在有五天的时间来提高其报价。加拿大太平洋航空在盘前交易中上涨0.9%。</blockquote></p><p> <b>Walt Disney(DIS)</b> – Disney will show the remainder of its 2021 movie releases exclusively in theaters, rather than making them simultaneously available on its Disney+ streaming service. Disney’s “Shang-Chi and the Legend of the 10 Rings” topped the weekend box office once again following its record Labor Day weekend performance, with that movie showing exclusively in theaters.</p><p><blockquote><b>华特迪士尼(DIS)</b>-迪士尼将在影院独家放映2021年上映的剩余电影，而不是在其Disney+流媒体服务上同时播放。迪士尼的《尚气与十环传奇》继劳动节周末创纪录的表现后，再次荣登周末票房榜首，这部电影仅在影院上映。</blockquote></p><p> <b>Alibaba(BABA)</b> – Alibaba fell 1.7% in premarket action.</p><p><blockquote><b>阿里巴巴-SW（父亲）</b>-阿里巴巴-SW盘前下跌1.7%。</blockquote></p><p> <b>Apple(AAPL)</b> – Epic Games will appeal Friday’s ruling that Apple’s app store was not an illegal monopoly. Epic did win a partial victory in the case, with the judge ruling that Apple must allow developers to include external payment links.</p><p><blockquote><b>苹果(AAPL)</b>-Epic Games将对周五的裁决提出上诉，该裁决认为苹果的app store不是非法垄断。Epic在此案中确实取得了部分胜利，法官裁定苹果必须允许开发者包含外部支付链接。</blockquote></p><p> <b>Carlyle Group(CG)</b> – Carlyle is considering a $6 billion sale or initial public offering for packaging company Novolex, according to a Bloomberg report. The private-equity firm bought Novolex for an undisclosed amount in November 2016.</p><p><blockquote><b>凯雷集团(CG)</b>-据彭博社报道，凯雷正在考虑以60亿美元的价格出售或首次公开募股包装公司Novolex。这家私募股权公司于2016年11月收购了Novolex，收购金额未公开。</blockquote></p><p> <b>MGM Resorts(MGM)</b> – MGM rose 1.5% in the premarket after Bernstein upgraded the resort operator’s stock to “outperform” from “market perform,” citing its strong presence in the gaming and sports betting industry as well as moves to divest the company’s real estate portfolio.</p><p><blockquote><b>美高梅度假村(MGM)</b>-米高梅在盘前上涨1.5%，此前伯恩斯坦将这家度假村运营商的股票从“大盘表现”上调至“跑赢大盘”，理由是该公司在博彩和体育博彩行业的强大影响力以及剥离该公司房地产投资组合的举措。</blockquote></p><p> <b>Pfizer(PFE) </b>– Pfizer’s Covid-19 vaccine – developed in conjunction with German partner&nbsp;BioNTech(BNTX) – could be authorized for use in children aged 5-11 as soon as next month, according to two sources familiar with the situation who spoke to Reuters. Pfizer is expected to have enough study data by then to submit an application for emergency use authorization to the Food and Drug Administration. BioNTech added 1.1% in premarket trading.</p><p><blockquote><b>辉瑞(PFE)</b>-据两位知情人士向路透社透露，辉瑞与德国合作伙伴BioNTech(BNTX)联合开发的Covid-19疫苗最早可能于下个月被授权用于5-11岁的儿童。辉瑞预计届时将有足够的研究数据向食品药品监督管理局提交紧急使用授权申请。BioNTech在盘前交易中上涨1.1%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"KSU":"堪萨斯南方铁路","SPCE":"维珍银河","PFE":"辉瑞","DELL":"戴尔",".IXIC":"NASDAQ Composite","TRU":"TransUnion","DIS":"迪士尼","BABA":"阿里巴巴","MGM":"美高梅","CG":"凯雷",".DJI":"道琼斯","AAPL":"苹果",".SPX":"S&P 500 Index","BNTX":"BioNTech SE"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129341543","content_text":"U.S. stock index futures rose on Monday after the S&P 500 logged its worst week in more than two months, with investors keeping a close eye on inflation as well as monetary and tax policies.\nS&P 500 E-minis were up 23.25 points, or 0.52% at 08:00 am ET. Dow E-minis were up 183 points, or 0.53%, while Nasdaq 100 E-minis were up 75 points, or 0.49%.\n\nApple Inc rose 0.9% in premarket trading after a mixed court ruling in Epic Games’ antitrust case against the iPhone maker knocked nearly $90 billion off its market value on Friday.\nStocks making the biggest moves in the premarket:\nVirgin Galactic(SPCE) – Virgin Galactic is delaying its first commercial research space mission after a third-party supplier warned of a potential defect in a component of the flight control system. Virgin Galactic shares slid 3.3% in the premarket.\nDell Technologies(DELL) – Dell added 1.9% in premarket action after Goldman Sachs added the computer maker’s stock to its “Conviction Buy” list. Goldman cited strong cash flow generation and debt paydown plans, among other factors.\nTransUnion(TRU) – TransUnion announced a deal to buy closely held information services company Neustar for $3.1 billion in cash. The credit reporting agency expects the deal to close during the fourth quarter.\nViacom(VIAC) – Viacom is planning a revamp of its Paramount Pictures unit, according to people familiar with the matter who spoke to The Wall Street Journal. The revamp, which would separate the TV and film operations, could be announced as soon as today. Viacom rose 1% in the premarket.\nKansas City Southern(KSU) – Kansas City Southern said the latest takeover bid from Canadian Pacific Railway(CP) is superior to the one it previously agreed to with Canadian National Railway(CNI). Canadian National now has five days to improve its offer, should it choose to do so. Canadian Pacific rallied 0.9% in premarket trading.\nWalt Disney(DIS) – Disney will show the remainder of its 2021 movie releases exclusively in theaters, rather than making them simultaneously available on its Disney+ streaming service. Disney’s “Shang-Chi and the Legend of the 10 Rings” topped the weekend box office once again following its record Labor Day weekend performance, with that movie showing exclusively in theaters.\nAlibaba(BABA) – Alibaba fell 1.7% in premarket action.\nApple(AAPL) – Epic Games will appeal Friday’s ruling that Apple’s app store was not an illegal monopoly. Epic did win a partial victory in the case, with the judge ruling that Apple must allow developers to include external payment links.\nCarlyle Group(CG) – Carlyle is considering a $6 billion sale or initial public offering for packaging company Novolex, according to a Bloomberg report. The private-equity firm bought Novolex for an undisclosed amount in November 2016.\nMGM Resorts(MGM) – MGM rose 1.5% in the premarket after Bernstein upgraded the resort operator’s stock to “outperform” from “market perform,” citing its strong presence in the gaming and sports betting industry as well as moves to divest the company’s real estate portfolio.\nPfizer(PFE) – Pfizer’s Covid-19 vaccine – developed in conjunction with German partner BioNTech(BNTX) – could be authorized for use in children aged 5-11 as soon as next month, according to two sources familiar with the situation who spoke to Reuters. Pfizer is expected to have enough study data by then to submit an application for emergency use authorization to the Food and Drug Administration. BioNTech added 1.1% in premarket trading.","news_type":1,"symbols_score_info":{"BABA":0.9,".DJI":0.9,"PFE":0.9,"TRU":0.9,"DELL":0.9,"NQmain":0.9,"KSU":0.9,"VIAC":0.9,"YMmain":0.9,"MGM":0.9,".IXIC":0.9,"BNTX":0.9,"CG":0.9,"AAPL":0.9,".SPX":0.9,"SPCE":0.9,"DIS":0.9,"ESmain":0.9}},"isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888140587,"gmtCreate":1631462334649,"gmtModify":1631888787016,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Good Luck","listText":"Good Luck","text":"Good Luck","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/888140587","repostId":"1160482100","repostType":4,"isVote":1,"tweetType":1,"viewCount":725,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":883587480,"gmtCreate":1631255617140,"gmtModify":1631888787026,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Time to buy?","listText":"Time to buy?","text":"Time to buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/883587480","repostId":"2166120346","repostType":4,"isVote":1,"tweetType":1,"viewCount":681,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":880171526,"gmtCreate":1631027756865,"gmtModify":1631888787038,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Buy?","listText":"Buy?","text":"Buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/880171526","repostId":"1139582863","repostType":4,"isVote":1,"tweetType":1,"viewCount":1084,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814374037,"gmtCreate":1630773915129,"gmtModify":1631888787077,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Oh","listText":"Oh","text":"Oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/814374037","repostId":"1186003479","repostType":4,"isVote":1,"tweetType":1,"viewCount":441,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":374953449,"gmtCreate":1619411634181,"gmtModify":1634273678384,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/374953449","repostId":"1184404050","repostType":4,"isVote":1,"tweetType":1,"viewCount":557,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185329646,"gmtCreate":1623634048585,"gmtModify":1631884324970,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Hope the price will go up! Please like and comment","listText":"Hope the price will go up! Please like and comment","text":"Hope the price will go up! Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/185329646","repostId":"2143857187","repostType":4,"isVote":1,"tweetType":1,"viewCount":505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137864887,"gmtCreate":1622337833249,"gmtModify":1631885485944,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Time to buy?","listText":"Time to buy?","text":"Time to buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/137864887","repostId":"2138765488","repostType":4,"isVote":1,"tweetType":1,"viewCount":656,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379834195,"gmtCreate":1618714125117,"gmtModify":1634291307683,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Like n comment too","listText":"Like n comment too","text":"Like n comment too","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/379834195","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","kind":"news","pubTimestamp":1618582708,"share":"https://www.laohu8.com/m/news/1175692875?lang=zh_CN&edition=full","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440亿美元期权今天到期：以下是将发生的变化</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然这不是四（甚至三）巫术日，但今天的大量每周期权将到期，其中可能一文不值，其他期权将为基础价格提供支持“引脚”。这就是为什么，尽管我们正在享受一个美丽的春季周，高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4月份每日期权交易量增长了70%，高于3月30日年初至今24亿美元的低点。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总体而言，单个股票中有5440亿美元的期权将于今天到期，其中包括3050亿美元的评级。</b>因此，今天的到期对于平值（ATM）期权持有大量未平仓合约的股票可能很重要，因为做市商对其异常大的期权投资组合进行delta对冲将会很活跃。这种流动可能会抑制某些股票的波动，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的维沙尔·维韦克（Vishal Vivek）所写，在重大到期时，期权交易者会跟踪以下情况：<b>大量未平仓合约即将到期。</b>在平价执行（执行价格等于或非常接近当前股价）中存在大量到期未平仓合约的情况下，delta对冲活动可能会影响标的股票当天的交易。如果做市商或其他对其头寸进行delta对冲的期权交易者是净多头ATM期权，则与到期相关的流量可能会产生抑制股价走势的效果，导致股价以大量未平仓合约在行权附近结算。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大型投资者来说是理想的情况。或者，如果delta对冲者是ATM期权的净空头（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致具有大量ATM未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助寻求日内交易机会的交易者，这里有一个表格，列出了今天到期的ATM未平仓合约较大的可能焦点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约占股票交易量的很大一部分，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在SpotGamma的朋友写道，这是一个相当奇怪的运营支出周期，“持续的几乎机械的出价推动市场走高。我们以前从未见过看涨期权墙“突破”过很多次，但我们在之前的笔记中提到过其他异常现象，例如净看跌期权销售。我们对此有一些理论，我们将在一篇更长的文章中发布。”</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动率现在已经压缩（即VIX处于新低），现在“长期”波动的潜力更大。回想一下最近市场的任何剧烈下跌都是如何被如此迅速地买入的（见下图）。<b>这些大幅走低与创纪录的VIX飙升同时发生，但随着VIX（即隐含波动率）的逆转，反射性的snap回调将带来同等力度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma的另一个奇怪观察：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动率非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或抓住支撑位，隐含波动率就会迅速反转走低。<b>我们经常想到这样一个类比，如果鲨鱼停止游泳，它就会下沉（部分正确！）.如果市场停止下跌，那么隐含波动率就会下降。</b>正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购空头对冲，从而推动反弹。SG的结论是：目前较低的隐含波动率水平给了市场更多的下行火力。从较低的隐含波动率开始会“减缓”反应性的“snap回”购买机制。此外，当IV较低时，伽马较高，因此伽马翻转可能有更多的果汁。</blockquote></p><p></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>$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440亿美元期权今天到期：以下是将发生的变化</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\">\n$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440亿美元期权今天到期：以下是将发生的变化</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-04-16 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然这不是四（甚至三）巫术日，但今天的大量每周期权将到期，其中可能一文不值，其他期权将为基础价格提供支持“引脚”。这就是为什么，尽管我们正在享受一个美丽的春季周，高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4月份每日期权交易量增长了70%，高于3月30日年初至今24亿美元的低点。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总体而言，单个股票中有5440亿美元的期权将于今天到期，其中包括3050亿美元的评级。</b>因此，今天的到期对于平值（ATM）期权持有大量未平仓合约的股票可能很重要，因为做市商对其异常大的期权投资组合进行delta对冲将会很活跃。这种流动可能会抑制某些股票的波动，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的维沙尔·维韦克（Vishal Vivek）所写，在重大到期时，期权交易者会跟踪以下情况：<b>大量未平仓合约即将到期。</b>在平价执行（执行价格等于或非常接近当前股价）中存在大量到期未平仓合约的情况下，delta对冲活动可能会影响标的股票当天的交易。如果做市商或其他对其头寸进行delta对冲的期权交易者是净多头ATM期权，则与到期相关的流量可能会产生抑制股价走势的效果，导致股价以大量未平仓合约在行权附近结算。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大型投资者来说是理想的情况。或者，如果delta对冲者是ATM期权的净空头（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致具有大量ATM未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助寻求日内交易机会的交易者，这里有一个表格，列出了今天到期的ATM未平仓合约较大的可能焦点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约占股票交易量的很大一部分，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在SpotGamma的朋友写道，这是一个相当奇怪的运营支出周期，“持续的几乎机械的出价推动市场走高。我们以前从未见过看涨期权墙“突破”过很多次，但我们在之前的笔记中提到过其他异常现象，例如净看跌期权销售。我们对此有一些理论，我们将在一篇更长的文章中发布。”</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动率现在已经压缩（即VIX处于新低），现在“长期”波动的潜力更大。回想一下最近市场的任何剧烈下跌都是如何被如此迅速地买入的（见下图）。<b>这些大幅走低与创纪录的VIX飙升同时发生，但随着VIX（即隐含波动率）的逆转，反射性的snap回调将带来同等力度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma的另一个奇怪观察：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动率非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或抓住支撑位，隐含波动率就会迅速反转走低。<b>我们经常想到这样一个类比，如果鲨鱼停止游泳，它就会下沉（部分正确！）.如果市场停止下跌，那么隐含波动率就会下降。</b>正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购空头对冲，从而推动反弹。SG的结论是：目前较低的隐含波动率水平给了市场更多的下行火力。从较低的隐含波动率开始会“减缓”反应性的“snap回”购买机制。此外，当IV较低时，伽马较高，因此伽马翻转可能有更多的果汁。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1,"symbols_score_info":{"SPY":0.9,".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184452201,"gmtCreate":1623722637603,"gmtModify":1634029562008,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Go Singapore!","listText":"Go Singapore!","text":"Go Singapore!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/184452201","repostId":"2143473928","repostType":4,"isVote":1,"tweetType":1,"viewCount":596,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834317652,"gmtCreate":1629771797076,"gmtModify":1631891302658,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Go go go! Thanks&nbsp;","listText":"Go go go! Thanks&nbsp;","text":"Go go go! Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/834317652","repostId":"2161777891","repostType":4,"isVote":1,"tweetType":1,"viewCount":591,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139489264,"gmtCreate":1621650029758,"gmtModify":1634187398401,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"High risk with Crypto","listText":"High risk with Crypto","text":"High risk with Crypto","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/139489264","repostId":"1174075999","repostType":4,"isVote":1,"tweetType":1,"viewCount":537,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107768983,"gmtCreate":1620540503042,"gmtModify":1634198136495,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"&nbsp;Like n comment&nbsp;","listText":"&nbsp;Like n comment&nbsp;","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/107768983","repostId":"1106882084","repostType":4,"isVote":1,"tweetType":1,"viewCount":417,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349560200,"gmtCreate":1617626259400,"gmtModify":1634297487682,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/349560200","repostId":"2125763974","repostType":4,"isVote":1,"tweetType":1,"viewCount":401,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340386218,"gmtCreate":1617339658034,"gmtModify":1634521320022,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Like n comment&nbsp;","listText":"Like n comment&nbsp;","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/340386218","repostId":"1119793308","repostType":4,"isVote":1,"tweetType":1,"viewCount":644,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":863461104,"gmtCreate":1632412894108,"gmtModify":1632729682036,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Go go go!","listText":"Go go go!","text":"Go go go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/863461104","repostId":"1159478468","repostType":4,"repost":{"id":"1159478468","kind":"news","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":1632411695,"share":"https://www.laohu8.com/m/news/1159478468?lang=zh_CN&edition=full","pubTime":"2021-09-23 23:41","market":"other","language":"en","title":"EngageSmart opens for trading at $37, up about 43.6% from IPO price<blockquote>EngageSmart开盘价为37美元，较IPO价格上涨约43.6%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159478468","media":"Tiger Newspress","summary":"(Sept 23) EngageSmart Inc. opens for trading at $37, up about 43.6% from IPO price.\n\nCompany\nBraintr","content":"<p>(Sept 23)&nbsp;<a href=\"https://laohu8.com/S/ESMT\">EngageSmart Inc.</a> opens for trading at $37, up about 43.6% from IPO price.</p><p><blockquote>（9月23日）<a href=\"https://laohu8.com/S/ESMT\">EngageSmart公司。</a>开盘价为37美元，较IPO价格上涨约43.6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/835bc9b4ff09e761852f27f75743b887\" tg-width=\"898\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>Company</b></p><p><blockquote><b>公司</b></blockquote></p><p> Braintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.</p><p><blockquote>总部位于马萨诸塞州布伦特里的EngageSmart成立的目的是开发一个平台，提高针对某些垂直行业的客户参与度。</blockquote></p><p> Management is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.</p><p><blockquote>管理层由创始人兼首席执行官Robert P.Bennett领导，他自公司成立以来一直在公司工作，此前曾担任Sage Payment Solutions总裁。</blockquote></p><p> The company's primary offerings include:</p><p><blockquote>该公司的主要产品包括：</blockquote></p><p> <ul>  <li>SimplePractice - Wellness</li>  <li>InvoiceCloud - Government, Utilities and Financial Services</li>  <li>HealthPay24 - Healthcare</li>  <li>DonorDrive - Non-profit and Corporate Fundraising</li> </ul> EngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.</p><p><blockquote><ul><li>简单实践-健康</li><li>InvoiceCloud–政府、公用事业和金融服务</li><li>HealthPay24-医疗保健</li><li>DonorDrive-非营利和企业筹款</li></ul>EngageSmart已从General Atlantic和Summit Partners等投资者那里获得了至少4.51亿美元的股权投资。</blockquote></p><p> <b>Customer Acquisition</b></p><p><blockquote><b>客户获取</b></blockquote></p><p> The firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.</p><p><blockquote>该公司通过其直销队伍和在线服务追求大型企业客户和中小型企业客户。</blockquote></p><p> As of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.</p><p><blockquote>截至2021年6月30日，该公司已为中小企业市场的68,000多家客户和企业解决方案领域的3,000多家客户提供服务。</blockquote></p><p> Selling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:</p><p><blockquote>销售和营销费用占总收入的百分比随着收入的增加而下降，如下图所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Selling and Marketing</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>销售及市场推广</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Expenses vs. Revenue</b></p><p><blockquote><td><b>费用与收入</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Percentage</p><p><blockquote><td>百分比</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>32.4%</p><p><blockquote><td>32.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>33.1%</p><p><blockquote><td>33.1%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>43.1%</p><p><blockquote><td>43.1%</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:</p><p><blockquote>销售和营销效率率（定义为每美元的销售和营销支出产生多少美元的额外新收入）在最近的报告期略有下降至1.1倍，如下表所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Selling and Marketing</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>销售及市场推广</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Efficiency Rate</b></p><p><blockquote><td><b>效率率</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Multiple</p><p><blockquote><td>多个的</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>1.1</p><p><blockquote><td>1.1</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>1.3</p><p><blockquote><td>1.3</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.</p><p><blockquote>40法则是软件行业的经验法则，只要收入增长率和EBITDA百分比等于或超过40%，公司就处于可接受的增长/EBITDA轨迹上。</blockquote></p><p> ESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:</p><p><blockquote>截至2021年6月30日，ESMT的最新计算结果为64%，因此该公司在这方面表现良好，如下表所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Rule of 40</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>40法则</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Calculation</b></p><p><blockquote><td><b>计算</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Recent Rev. Growth %</p><p><blockquote><tr><td>近期收入增长%</td></tr></blockquote></p><p></td>    <td>59%</p><p><blockquote><td>59%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EBITDA %</p><p><blockquote><tr><td>EBITDA%</td></tr></blockquote></p><p></td>    <td>5%</p><p><blockquote><td>5%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Total</p><p><blockquote><tr><td>总的</td></tr></blockquote></p><p></td>    <td>64%</p><p><blockquote><td>64%</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p><p><blockquote>截至2020年12月31日，该公司以美元计算的净收入保留率为124%，这是一个强劲的业绩。</blockquote></p><p> The dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.</p><p><blockquote>基于美元的净收入保留率指标衡量随着时间的推移，每个客户群产生了多少额外收入，因此超过100%的数字意味着公司随着时间的推移从同一客户群产生了更多收入，表明良好的产品/市场契合度以及高效的销售和营销工作。</blockquote></p><p> <b>Market &amp; Competition</b></p><p><blockquote><b>市场与竞争</b></blockquote></p><p> According to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.</p><p><blockquote>根据Mordor Intelligence的2021年市场研究报告，2020年全球客户参与解决方案市场规模估计为155亿美元，预计到2026年将达到309亿美元。</blockquote></p><p> This represents a forecast CAGR of 12.65% from 2021 to 2026.</p><p><blockquote>这意味着2021年至2026年的预测复合年增长率为12.65%。</blockquote></p><p> The main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.</p><p><blockquote>这一预期增长的主要驱动力是技术解决方案的增长，以改善客户通过他们用来与企业联系的任何设备的旅程。</blockquote></p><p> Also, a desire to reduce customer churn rate results in improved business financials and growing valuation.</p><p><blockquote>此外，降低客户流失率的愿望会导致企业财务状况的改善和估值的增长。</blockquote></p><p> Below is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:</p><p><blockquote>下图显示了2018年美国不同行业客户流失率的变化：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f1066adb602d05e4e99630aacf61e1c5\" tg-width=\"1060\" tg-height=\"922\" referrerpolicy=\"no-referrer\">Major competitive or other industry participants include:</p><p><blockquote>主要竞争对手或其他行业参与者包括：</blockquote></p><p> <ul>  <li>IBM(NYSE:IBM)</p><p><blockquote><ul><li>IBM（纽约证券交易所代码：IBM）</li></ul></blockquote></p><p></li>  <li>Microsoft(NASDAQ:MSFT)</p><p><blockquote><li>微软（纳斯达克：MSFT）</li></blockquote></p><p></li>  <li>Nuance(NASDAQ:NUAN)</p><p><blockquote><li>细微差别（纳斯达克：暖）</li></blockquote></p><p></li>  <li>Oracle(NYSE:ORCL)</p><p><blockquote><li>甲骨文（纽约证券交易所代码：ORCL）</li></blockquote></p><p></li>  <li>Salesforce(NYSE:CRM)</p><p><blockquote><li>Salesforce（纽约证券交易所代码：CRM）</li></blockquote></p><p></li>  <li>Avaya(NYSE:AVYA)</p><p><blockquote><li>Avaya（纽约证券交易所代码：AVYA）</li></blockquote></p><p></li>  <li>Calabrio</p><p><blockquote><li>卡拉布里奥</li></blockquote></p><p></li>  <li>Aspect Software</p><p><blockquote><li>Aspect软件</li></blockquote></p><p></li>  <li>Genesys</p><p><blockquote><li>创世纪</li></blockquote></p><p></li>  <li>Verint Systems(NASDAQ:VRNT)</p><p><blockquote><li>Verint Systems（纳斯达克：VRNT）</li></blockquote></p><p></li>  <li>NICE Ltd.(NASDAQ:NICE)</p><p><blockquote><li>尼斯有限公司（纳斯达克：NICE）</li></blockquote></p><p></li>  <li>OpenText</p><p><blockquote><li>OpenText</li></blockquote></p><p></li>  <li>Pegasystems(NASDAQ:PEGA)</p><p><blockquote><li>飞马系统（纳斯达克：PEGA）</li></blockquote></p><p></li>  <li>Others</p><p><blockquote><li>其他</li></blockquote></p><p></p><p></li> </ul> <b>Financial Performance</b></p><p><blockquote><b>财务表现</b></blockquote></p><p> EngageSmart's recent financial results can be summarized as follows:</p><p><blockquote>EngageSmart最近的财务业绩可总结如下：</blockquote></p><p> <ul>  <li>Growing topline revenue</p><p><blockquote><ul><li>营收不断增长</li></ul></blockquote></p><p></li>  <li>Increasing gross profit and high gross margin</p><p><blockquote><li>毛利增加，毛利率高</li></blockquote></p><p></li>  <li>Growing operating profit and net income</p><p><blockquote><li>营业利润和净利润不断增长</li></blockquote></p><p></li>  <li>Increasing cash flow from operations</p><p><blockquote><li>增加经营现金流</li></blockquote></p><p></li> </ul> Below are relevant financial results derived from the firm's registration statement:</p><p><blockquote>以下是来自公司注册声明的相关财务业绩：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Total Revenue</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>收入总额</b></td></tr></tbody></table></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Total Revenue</p><p><blockquote><td>收入总额</td></blockquote></p><p></td>    <td>% Variance vs. Prior</p><p><blockquote><td>与既往相比的%差异</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 99,171,000</p><p><blockquote><td>$99,171,000</td></blockquote></p><p></td>    <td>58.6%</p><p><blockquote><td>58.6%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 146,557,000</p><p><blockquote><td>$146,557,000</td></blockquote></p><p></td>    <td>77.8%</p><p><blockquote><td>77.8%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ 82,432,000</p><p><blockquote><td>$82,432,000</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Gross Profit (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>毛利（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Gross Profit (Loss)</p><p><blockquote><td>毛利（亏损）</td></blockquote></p><p></td>    <td>% Variance vs. Prior</p><p><blockquote><td>与既往差异%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 73,673,000</p><p><blockquote><td>$73,673,000</td></blockquote></p><p></td>    <td>61.4%</p><p><blockquote><td>61.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 108,964,000</p><p><blockquote><td>$108,964,000</td></blockquote></p><p></td>    <td>89.2%</p><p><blockquote><td>89.2%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ 57,591,000</p><p><blockquote><td>$57,591,000</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Gross Margin</b></p><p><blockquote><tr></tr><tr><td><b>毛利率</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Gross Margin</p><p><blockquote><td>毛利率</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>74.29%</p><p><blockquote><td>74.29%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>74.35%</p><p><blockquote><td>74.35%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>69.86%</p><p><blockquote><td>69.86%</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Operating Profit (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>经营溢利（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Operating Profit (Loss)</p><p><blockquote><td>经营溢利（亏损）</td></blockquote></p><p></td>    <td>Operating Margin</p><p><blockquote><td>营业利润率</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 5,001,000</p><p><blockquote><td>$5,001,000</td></blockquote></p><p></td>    <td>5.0%</p><p><blockquote><td>5.0%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 648,000</p><p><blockquote><td>$648,000</td></blockquote></p><p></td>    <td>0.4%</p><p><blockquote><td>0.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (50,398,000)</p><p><blockquote><td>$(50,398,000)</td></blockquote></p><p></td>    <td>-61.1%</p><p><blockquote><td>-61.1%</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Net Income (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>净利润（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Net Income (Loss)</p><p><blockquote><td>净利润（亏损）</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 274,000</p><p><blockquote><td>$274,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ (6,678,000)</p><p><blockquote><td>$(6,678,000)</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (53,598,000)</p><p><blockquote><td>$(53,598,000)</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Cash Flow From Operations</b></p><p><blockquote><tr></tr><tr><td><b>经营所得现金流量</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Cash Flow From Operations</p><p><blockquote><td>经营所得现金流量</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 12,044,000</p><p><blockquote><td>$12,044,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 19,645,000</p><p><blockquote><td>$19,645,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (1,427,000)</p><p><blockquote><td>$(1,427,000)</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td>(Glossary Of Terms)</p><p><blockquote><tr></tr><tr><td>（术语表）</td></tr></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> As of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.</p><p><blockquote>截至2021年6月30日，EngageSmart拥有现金3180万美元，总负债1.518亿美元。</blockquote></p><p> Free cash flow during the twelve months ended June 30, 2021, was $25.2 million.</p><p><blockquote>截至2021年6月30日的12个月内的自由现金流为2520万美元。</blockquote></p><p> <b>IPO Details</b></p><p><blockquote><b>IPO详情</b></blockquote></p><p> ESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.</p><p><blockquote>ESMT打算出售1300万股股票，出售股东将以每股24.00美元的拟议中中间价发行155万股普通股，总收益约为3.49亿美元，不包括出售惯常承销商期权。</blockquote></p><p> New potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.</p><p><blockquote>新的潜在投资者Dragoneer Investment Group已表示有兴趣购买此次发行的210万股股票，即按拟议中的中点价格购买约5040万美元。</blockquote></p><p> Assuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.</p><p><blockquote>假设在拟议价格范围的中点成功IPO，该公司IPO时的企业价值（前承销商期权）将约为37亿美元。</blockquote></p><p> Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.</p><p><blockquote>排除承销商期权和私募股份或限制性股票（如有）的影响，流通股与流通股的比率约为9.04%。低于10%的数字通常被认为是“低流通量”股票，可能会受到价格大幅波动的影响。</blockquote></p><p> Per the firm's most recent regulatory filing, it plans to use the net proceeds as follows:</p><p><blockquote>根据该公司最新的监管文件，它计划使用净收益如下：</blockquote></p><p>   We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.    Source: SEC  Management's presentation of the company roadshow isavailable here.</p><p><blockquote>我们预计将使用本次发行的净收益全额偿还我们信贷安排下约1.142亿美元的未偿借款。我们目前打算将本次发行的剩余净收益用于一般公司目的，包括为我们的增长提供资金、收购互补业务、产品、服务或技术、营运资金、运营费用和资本支出。资料来源：SEC管理层对公司路演的介绍可在此处获得。</blockquote></p><p> Regarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.</p><p><blockquote>关于未决法律诉讼，截至监管备案日，管理层未披露针对该公司的任何法律索赔。</blockquote></p><p> Listed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.</p><p><blockquote>此次IPO的上市承销商包括摩根大通、高盛、美银证券和其他投资银行。</blockquote></p><p> <b>Valuation Metrics</b></p><p><blockquote><b>估值指标</b></blockquote></p><p></p><p> Below is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p><p><blockquote>下表列出了该公司IPO时的相关资本化和估值指标，不包括承销商期权的影响：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Measure [TTM]</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>测量[TTM]</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Amount</b></p><p><blockquote><td><b>数量</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Market Capitalization at IPO</p><p><blockquote><tr><td>IPO时的市值</td></tr></blockquote></p><p></td>    <td>$3,862,956,720</p><p><blockquote><td>$3,862,956,720</td></blockquote></p><p></td>   </tr>   <tr>    <td>Enterprise Value</p><p><blockquote><tr><td>企业价值</td></tr></blockquote></p><p></td>    <td>$3,656,695,720</p><p><blockquote><td>$3,656,695,720</td></blockquote></p><p></td>   </tr>   <tr>    <td>Price / Sales</p><p><blockquote><tr><td>价格/销售额</td></tr></blockquote></p><p></td>    <td>21.09</p><p><blockquote><td>21.09</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / Revenue</p><p><blockquote><tr><td>EV/收入</td></tr></blockquote></p><p></td>    <td>19.96</p><p><blockquote><td>19.96</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / EBITDA</p><p><blockquote><tr><td>EV/EBITDA</td></tr></blockquote></p><p></td>    <td>377.37</p><p><blockquote><td>377.37</td></blockquote></p><p></td>   </tr>   <tr>    <td>Earnings Per Share</p><p><blockquote><tr><td>每股盈利</td></tr></blockquote></p><p></td>    <td>$0.00</p><p><blockquote><td>$0.00</td></blockquote></p><p></td>   </tr>   <tr>    <td>Float To Outstanding Shares Ratio</p><p><blockquote><tr><td>流通股与流通股比率</td></tr></blockquote></p><p></td>    <td>9.04%</p><p><blockquote><td>9.04%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Proposed IPO Midpoint Price per Share</p><p><blockquote><tr><td>建议IPO每股中点价格</td></tr></blockquote></p><p></td>    <td>$24.00</p><p><blockquote><td>$24.00</td></blockquote></p><p></td>   </tr>   <tr>    <td>Net Free Cash Flow</p><p><blockquote><tr><td>净自由现金流</td></tr></blockquote></p><p></td>    <td>$25,236,000</p><p><blockquote><td>$25,236,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>Free Cash Flow Yield Per Share</p><p><blockquote><tr><td>每股自由现金流收益率</td></tr></blockquote></p><p></td>    <td>0.65%</p><p><blockquote><td>0.65%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Revenue Growth Rate</p><p><blockquote><tr><td>收入增长率</td></tr></blockquote></p><p></td>    <td>58.59%</p><p><blockquote><td>58.59%</td></blockquote></p><p></td>   </tr>   <tr></tr>  </tbody> </table> Source: SEC</p><p><blockquote><tr></tr>资料来源：SEC</blockquote></p><p> As a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:</p><p><blockquote>作为参考，潜在的公共可比公司是NICE Ltd.；下图是其主要估值指标的比较：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Metric</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>公制</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Nice Ltd.</b></p><p><blockquote><td><b>尼斯有限公司。</b></td></blockquote></p><p></td>    <td><b>EngageSmart</b></p><p><blockquote><td><b>参与智能</b></td></blockquote></p><p></td>    <td><b>Variance</b></p><p><blockquote><td><b>差异</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Price / Sales</p><p><blockquote><tr><td>价格/销售额</td></tr></blockquote></p><p></td>    <td>11.01</p><p><blockquote><td>11.01</td></blockquote></p><p></td>    <td>21.09</p><p><blockquote><td>21.09</td></blockquote></p><p></td>    <td>91.5%</p><p><blockquote><td>91.5%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / Revenue</p><p><blockquote><tr><td>EV/收入</td></tr></blockquote></p><p></td>    <td>10.67</p><p><blockquote><td>10.67</td></blockquote></p><p></td>    <td>19.96</p><p><blockquote><td>19.96</td></blockquote></p><p></td>    <td>87.1%</p><p><blockquote><td>87.1%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / EBITDA</p><p><blockquote><tr><td>EV/EBITDA</td></tr></blockquote></p><p></td>    <td>41.73</p><p><blockquote><td>41.73</td></blockquote></p><p></td>    <td>377.37</p><p><blockquote><td>377.37</td></blockquote></p><p></td>    <td>804.3%</p><p><blockquote><td>804.3%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Earnings Per Share</p><p><blockquote><tr><td>每股盈利</td></tr></blockquote></p><p></td>    <td>$3.05</p><p><blockquote><td>$3.05</td></blockquote></p><p></td>    <td>$0.00</p><p><blockquote><td>$0.00</td></blockquote></p><p></td>    <td>-100.0%</p><p><blockquote><td>-100.0%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Revenue Growth Rate</p><p><blockquote><tr><td>收入增长率</td></tr></blockquote></p><p></td>    <td>5.3%</p><p><blockquote><td>5.3%</td></blockquote></p><p></td>    <td>58.59%</p><p><blockquote><td>58.59%</td></blockquote></p><p></td>    <td>1003.34%</p><p><blockquote><td>1003.34%</td></blockquote></p><p></td>   </tr>   <tr></tr>  </tbody> </table> (S-1/A andSeeking Alpha)</p><p><blockquote><tr></tr>（S-1/A和Seeking Alpha）</blockquote></p><p> <b>Commentary</b></p><p><blockquote><b>评论</b></blockquote></p><p> ESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.</p><p><blockquote>ESMT正在寻求公共投资来偿还债务及其未具体说明的总体企业增长计划。</blockquote></p><p> The firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.</p><p><blockquote>该公司的财务数据显示，随着运营现金流的增长，营业利润和小幅净利润增长强劲。</blockquote></p><p> Free cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.</p><p><blockquote>截至2021年6月30日的12个月的自由现金流为2520万美元。</blockquote></p><p> Selling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.</p><p><blockquote>随着收入的增加，销售和营销费用占总收入的百分比有所下降，其销售和营销效率在最近六个月的报告期内降至1.1倍。</blockquote></p><p> The company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p><p><blockquote>该公司的40法则表现出色，截至2020年12月31日止年度以美元计算的净收入保留率为124%，这是一个强劲的业绩。</blockquote></p><p> The market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.</p><p><blockquote>为企业提供客户参与软件的市场机会很大，预计到2026年底规模将翻一番，因此该公司将受益于强劲的行业增长动力。</blockquote></p><p> JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p><p><blockquote>摩根大通是主要承销商，该公司在过去12个月内牵头的IPO自IPO以来的平均回报率为20.4%。这是期内所有主要承销商的中等表现。</blockquote></p><p> The primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.</p><p><blockquote>该公司前景的主要风险是大型公司有能力将其部分服务捆绑到现有产品中，从而导致价格下行压力和竞争加剧。</blockquote></p><p> As for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.</p><p><blockquote>至于估值，与部分竞争对手NICE相比，ESMT的收入增长速度要快得多，因此其更高的收入倍数似乎是合理的。</blockquote></p><p> Also, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.</p><p><blockquote>此外，该公司的增长速度比竞争对手Pegasystems快得多，因此似乎正在从这些公司和其他公司手中夺取客户参与市场的市场份额。</blockquote></p><p> Given the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.</p><p><blockquote>鉴于该公司相对于竞争对手的强劲增长和运营指标，虽然IPO并不便宜，但值得考虑。</blockquote></p><p></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>EngageSmart opens for trading at $37, up about 43.6% from IPO price<blockquote>EngageSmart开盘价为37美元，较IPO价格上涨约43.6%</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\">\nEngageSmart opens for trading at $37, up about 43.6% from IPO price<blockquote>EngageSmart开盘价为37美元，较IPO价格上涨约43.6%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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 smaller\">2021-09-23 23:41</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Sept 23)&nbsp;<a href=\"https://laohu8.com/S/ESMT\">EngageSmart Inc.</a> opens for trading at $37, up about 43.6% from IPO price.</p><p><blockquote>（9月23日）<a href=\"https://laohu8.com/S/ESMT\">EngageSmart公司。</a>开盘价为37美元，较IPO价格上涨约43.6%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/835bc9b4ff09e761852f27f75743b887\" tg-width=\"898\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>Company</b></p><p><blockquote><b>公司</b></blockquote></p><p> Braintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.</p><p><blockquote>总部位于马萨诸塞州布伦特里的EngageSmart成立的目的是开发一个平台，提高针对某些垂直行业的客户参与度。</blockquote></p><p> Management is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.</p><p><blockquote>管理层由创始人兼首席执行官Robert P.Bennett领导，他自公司成立以来一直在公司工作，此前曾担任Sage Payment Solutions总裁。</blockquote></p><p> The company's primary offerings include:</p><p><blockquote>该公司的主要产品包括：</blockquote></p><p> <ul>  <li>SimplePractice - Wellness</li>  <li>InvoiceCloud - Government, Utilities and Financial Services</li>  <li>HealthPay24 - Healthcare</li>  <li>DonorDrive - Non-profit and Corporate Fundraising</li> </ul> EngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.</p><p><blockquote><ul><li>简单实践-健康</li><li>InvoiceCloud–政府、公用事业和金融服务</li><li>HealthPay24-医疗保健</li><li>DonorDrive-非营利和企业筹款</li></ul>EngageSmart已从General Atlantic和Summit Partners等投资者那里获得了至少4.51亿美元的股权投资。</blockquote></p><p> <b>Customer Acquisition</b></p><p><blockquote><b>客户获取</b></blockquote></p><p> The firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.</p><p><blockquote>该公司通过其直销队伍和在线服务追求大型企业客户和中小型企业客户。</blockquote></p><p> As of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.</p><p><blockquote>截至2021年6月30日，该公司已为中小企业市场的68,000多家客户和企业解决方案领域的3,000多家客户提供服务。</blockquote></p><p> Selling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:</p><p><blockquote>销售和营销费用占总收入的百分比随着收入的增加而下降，如下图所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Selling and Marketing</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>销售及市场推广</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Expenses vs. Revenue</b></p><p><blockquote><td><b>费用与收入</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Percentage</p><p><blockquote><td>百分比</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>32.4%</p><p><blockquote><td>32.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>33.1%</p><p><blockquote><td>33.1%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>43.1%</p><p><blockquote><td>43.1%</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:</p><p><blockquote>销售和营销效率率（定义为每美元的销售和营销支出产生多少美元的额外新收入）在最近的报告期略有下降至1.1倍，如下表所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Selling and Marketing</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>销售及市场推广</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Efficiency Rate</b></p><p><blockquote><td><b>效率率</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Multiple</p><p><blockquote><td>多个的</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>1.1</p><p><blockquote><td>1.1</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>1.3</p><p><blockquote><td>1.3</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.</p><p><blockquote>40法则是软件行业的经验法则，只要收入增长率和EBITDA百分比等于或超过40%，公司就处于可接受的增长/EBITDA轨迹上。</blockquote></p><p> ESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:</p><p><blockquote>截至2021年6月30日，ESMT的最新计算结果为64%，因此该公司在这方面表现良好，如下表所示：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Rule of 40</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>40法则</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Calculation</b></p><p><blockquote><td><b>计算</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Recent Rev. Growth %</p><p><blockquote><tr><td>近期收入增长%</td></tr></blockquote></p><p></td>    <td>59%</p><p><blockquote><td>59%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EBITDA %</p><p><blockquote><tr><td>EBITDA%</td></tr></blockquote></p><p></td>    <td>5%</p><p><blockquote><td>5%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Total</p><p><blockquote><tr><td>总的</td></tr></blockquote></p><p></td>    <td>64%</p><p><blockquote><td>64%</td></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> The firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p><p><blockquote>截至2020年12月31日，该公司以美元计算的净收入保留率为124%，这是一个强劲的业绩。</blockquote></p><p> The dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.</p><p><blockquote>基于美元的净收入保留率指标衡量随着时间的推移，每个客户群产生了多少额外收入，因此超过100%的数字意味着公司随着时间的推移从同一客户群产生了更多收入，表明良好的产品/市场契合度以及高效的销售和营销工作。</blockquote></p><p> <b>Market &amp; Competition</b></p><p><blockquote><b>市场与竞争</b></blockquote></p><p> According to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.</p><p><blockquote>根据Mordor Intelligence的2021年市场研究报告，2020年全球客户参与解决方案市场规模估计为155亿美元，预计到2026年将达到309亿美元。</blockquote></p><p> This represents a forecast CAGR of 12.65% from 2021 to 2026.</p><p><blockquote>这意味着2021年至2026年的预测复合年增长率为12.65%。</blockquote></p><p> The main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.</p><p><blockquote>这一预期增长的主要驱动力是技术解决方案的增长，以改善客户通过他们用来与企业联系的任何设备的旅程。</blockquote></p><p> Also, a desire to reduce customer churn rate results in improved business financials and growing valuation.</p><p><blockquote>此外，降低客户流失率的愿望会导致企业财务状况的改善和估值的增长。</blockquote></p><p> Below is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:</p><p><blockquote>下图显示了2018年美国不同行业客户流失率的变化：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f1066adb602d05e4e99630aacf61e1c5\" tg-width=\"1060\" tg-height=\"922\" referrerpolicy=\"no-referrer\">Major competitive or other industry participants include:</p><p><blockquote>主要竞争对手或其他行业参与者包括：</blockquote></p><p> <ul>  <li>IBM(NYSE:IBM)</p><p><blockquote><ul><li>IBM（纽约证券交易所代码：IBM）</li></ul></blockquote></p><p></li>  <li>Microsoft(NASDAQ:MSFT)</p><p><blockquote><li>微软（纳斯达克：MSFT）</li></blockquote></p><p></li>  <li>Nuance(NASDAQ:NUAN)</p><p><blockquote><li>细微差别（纳斯达克：暖）</li></blockquote></p><p></li>  <li>Oracle(NYSE:ORCL)</p><p><blockquote><li>甲骨文（纽约证券交易所代码：ORCL）</li></blockquote></p><p></li>  <li>Salesforce(NYSE:CRM)</p><p><blockquote><li>Salesforce（纽约证券交易所代码：CRM）</li></blockquote></p><p></li>  <li>Avaya(NYSE:AVYA)</p><p><blockquote><li>Avaya（纽约证券交易所代码：AVYA）</li></blockquote></p><p></li>  <li>Calabrio</p><p><blockquote><li>卡拉布里奥</li></blockquote></p><p></li>  <li>Aspect Software</p><p><blockquote><li>Aspect软件</li></blockquote></p><p></li>  <li>Genesys</p><p><blockquote><li>创世纪</li></blockquote></p><p></li>  <li>Verint Systems(NASDAQ:VRNT)</p><p><blockquote><li>Verint Systems（纳斯达克：VRNT）</li></blockquote></p><p></li>  <li>NICE Ltd.(NASDAQ:NICE)</p><p><blockquote><li>尼斯有限公司（纳斯达克：NICE）</li></blockquote></p><p></li>  <li>OpenText</p><p><blockquote><li>OpenText</li></blockquote></p><p></li>  <li>Pegasystems(NASDAQ:PEGA)</p><p><blockquote><li>飞马系统（纳斯达克：PEGA）</li></blockquote></p><p></li>  <li>Others</p><p><blockquote><li>其他</li></blockquote></p><p></p><p></li> </ul> <b>Financial Performance</b></p><p><blockquote><b>财务表现</b></blockquote></p><p> EngageSmart's recent financial results can be summarized as follows:</p><p><blockquote>EngageSmart最近的财务业绩可总结如下：</blockquote></p><p> <ul>  <li>Growing topline revenue</p><p><blockquote><ul><li>营收不断增长</li></ul></blockquote></p><p></li>  <li>Increasing gross profit and high gross margin</p><p><blockquote><li>毛利增加，毛利率高</li></blockquote></p><p></li>  <li>Growing operating profit and net income</p><p><blockquote><li>营业利润和净利润不断增长</li></blockquote></p><p></li>  <li>Increasing cash flow from operations</p><p><blockquote><li>增加经营现金流</li></blockquote></p><p></li> </ul> Below are relevant financial results derived from the firm's registration statement:</p><p><blockquote>以下是来自公司注册声明的相关财务业绩：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Total Revenue</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>收入总额</b></td></tr></tbody></table></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Total Revenue</p><p><blockquote><td>收入总额</td></blockquote></p><p></td>    <td>% Variance vs. Prior</p><p><blockquote><td>与既往相比的%差异</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 99,171,000</p><p><blockquote><td>$99,171,000</td></blockquote></p><p></td>    <td>58.6%</p><p><blockquote><td>58.6%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 146,557,000</p><p><blockquote><td>$146,557,000</td></blockquote></p><p></td>    <td>77.8%</p><p><blockquote><td>77.8%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ 82,432,000</p><p><blockquote><td>$82,432,000</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Gross Profit (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>毛利（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Gross Profit (Loss)</p><p><blockquote><td>毛利（亏损）</td></blockquote></p><p></td>    <td>% Variance vs. Prior</p><p><blockquote><td>与既往差异%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 73,673,000</p><p><blockquote><td>$73,673,000</td></blockquote></p><p></td>    <td>61.4%</p><p><blockquote><td>61.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 108,964,000</p><p><blockquote><td>$108,964,000</td></blockquote></p><p></td>    <td>89.2%</p><p><blockquote><td>89.2%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ 57,591,000</p><p><blockquote><td>$57,591,000</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Gross Margin</b></p><p><blockquote><tr></tr><tr><td><b>毛利率</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Gross Margin</p><p><blockquote><td>毛利率</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>74.29%</p><p><blockquote><td>74.29%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>74.35%</p><p><blockquote><td>74.35%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>69.86%</p><p><blockquote><td>69.86%</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Operating Profit (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>经营溢利（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Operating Profit (Loss)</p><p><blockquote><td>经营溢利（亏损）</td></blockquote></p><p></td>    <td>Operating Margin</p><p><blockquote><td>营业利润率</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 5,001,000</p><p><blockquote><td>$5,001,000</td></blockquote></p><p></td>    <td>5.0%</p><p><blockquote><td>5.0%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 648,000</p><p><blockquote><td>$648,000</td></blockquote></p><p></td>    <td>0.4%</p><p><blockquote><td>0.4%</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (50,398,000)</p><p><blockquote><td>$(50,398,000)</td></blockquote></p><p></td>    <td>-61.1%</p><p><blockquote><td>-61.1%</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Net Income (Loss)</b></p><p><blockquote><tr></tr><tr><td><b>净利润（亏损）</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Net Income (Loss)</p><p><blockquote><td>净利润（亏损）</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 274,000</p><p><blockquote><td>$274,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ (6,678,000)</p><p><blockquote><td>$(6,678,000)</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (53,598,000)</p><p><blockquote><td>$(53,598,000)</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td><b>Cash Flow From Operations</b></p><p><blockquote><tr></tr><tr><td><b>经营所得现金流量</b></td></tr></blockquote></p><p></td>   </tr>   <tr>    <td>Period</p><p><blockquote><tr><td>周期</td></tr></blockquote></p><p></td>    <td>Cash Flow From Operations</p><p><blockquote><td>经营所得现金流量</td></blockquote></p><p></td>   </tr>   <tr>    <td>Six Mos. Ended June 30, 2021</p><p><blockquote><tr><td>六个月。截至2021年6月30日止</td></tr></blockquote></p><p></td>    <td>$ 12,044,000</p><p><blockquote><td>$12,044,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2020</p><p><blockquote><tr><td>2020</td></tr></blockquote></p><p></td>    <td>$ 19,645,000</p><p><blockquote><td>$19,645,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>2019</p><p><blockquote><tr><td>2019</td></tr></blockquote></p><p></td>    <td>$ (1,427,000)</p><p><blockquote><td>$(1,427,000)</td></blockquote></p><p></td>   </tr>   <tr></tr>   <tr>    <td>(Glossary Of Terms)</p><p><blockquote><tr></tr><tr><td>（术语表）</td></tr></blockquote></p><p></td>   </tr>  </tbody> </table> Source: SEC</p><p><blockquote>资料来源：SEC</blockquote></p><p> As of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.</p><p><blockquote>截至2021年6月30日，EngageSmart拥有现金3180万美元，总负债1.518亿美元。</blockquote></p><p> Free cash flow during the twelve months ended June 30, 2021, was $25.2 million.</p><p><blockquote>截至2021年6月30日的12个月内的自由现金流为2520万美元。</blockquote></p><p> <b>IPO Details</b></p><p><blockquote><b>IPO详情</b></blockquote></p><p> ESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.</p><p><blockquote>ESMT打算出售1300万股股票，出售股东将以每股24.00美元的拟议中中间价发行155万股普通股，总收益约为3.49亿美元，不包括出售惯常承销商期权。</blockquote></p><p> New potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.</p><p><blockquote>新的潜在投资者Dragoneer Investment Group已表示有兴趣购买此次发行的210万股股票，即按拟议中的中点价格购买约5040万美元。</blockquote></p><p> Assuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.</p><p><blockquote>假设在拟议价格范围的中点成功IPO，该公司IPO时的企业价值（前承销商期权）将约为37亿美元。</blockquote></p><p> Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.</p><p><blockquote>排除承销商期权和私募股份或限制性股票（如有）的影响，流通股与流通股的比率约为9.04%。低于10%的数字通常被认为是“低流通量”股票，可能会受到价格大幅波动的影响。</blockquote></p><p> Per the firm's most recent regulatory filing, it plans to use the net proceeds as follows:</p><p><blockquote>根据该公司最新的监管文件，它计划使用净收益如下：</blockquote></p><p>   We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.    Source: SEC  Management's presentation of the company roadshow isavailable here.</p><p><blockquote>我们预计将使用本次发行的净收益全额偿还我们信贷安排下约1.142亿美元的未偿借款。我们目前打算将本次发行的剩余净收益用于一般公司目的，包括为我们的增长提供资金、收购互补业务、产品、服务或技术、营运资金、运营费用和资本支出。资料来源：SEC管理层对公司路演的介绍可在此处获得。</blockquote></p><p> Regarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.</p><p><blockquote>关于未决法律诉讼，截至监管备案日，管理层未披露针对该公司的任何法律索赔。</blockquote></p><p> Listed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.</p><p><blockquote>此次IPO的上市承销商包括摩根大通、高盛、美银证券和其他投资银行。</blockquote></p><p> <b>Valuation Metrics</b></p><p><blockquote><b>估值指标</b></blockquote></p><p></p><p> Below is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p><p><blockquote>下表列出了该公司IPO时的相关资本化和估值指标，不包括承销商期权的影响：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Measure [TTM]</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>测量[TTM]</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Amount</b></p><p><blockquote><td><b>数量</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Market Capitalization at IPO</p><p><blockquote><tr><td>IPO时的市值</td></tr></blockquote></p><p></td>    <td>$3,862,956,720</p><p><blockquote><td>$3,862,956,720</td></blockquote></p><p></td>   </tr>   <tr>    <td>Enterprise Value</p><p><blockquote><tr><td>企业价值</td></tr></blockquote></p><p></td>    <td>$3,656,695,720</p><p><blockquote><td>$3,656,695,720</td></blockquote></p><p></td>   </tr>   <tr>    <td>Price / Sales</p><p><blockquote><tr><td>价格/销售额</td></tr></blockquote></p><p></td>    <td>21.09</p><p><blockquote><td>21.09</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / Revenue</p><p><blockquote><tr><td>EV/收入</td></tr></blockquote></p><p></td>    <td>19.96</p><p><blockquote><td>19.96</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / EBITDA</p><p><blockquote><tr><td>EV/EBITDA</td></tr></blockquote></p><p></td>    <td>377.37</p><p><blockquote><td>377.37</td></blockquote></p><p></td>   </tr>   <tr>    <td>Earnings Per Share</p><p><blockquote><tr><td>每股盈利</td></tr></blockquote></p><p></td>    <td>$0.00</p><p><blockquote><td>$0.00</td></blockquote></p><p></td>   </tr>   <tr>    <td>Float To Outstanding Shares Ratio</p><p><blockquote><tr><td>流通股与流通股比率</td></tr></blockquote></p><p></td>    <td>9.04%</p><p><blockquote><td>9.04%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Proposed IPO Midpoint Price per Share</p><p><blockquote><tr><td>建议IPO每股中点价格</td></tr></blockquote></p><p></td>    <td>$24.00</p><p><blockquote><td>$24.00</td></blockquote></p><p></td>   </tr>   <tr>    <td>Net Free Cash Flow</p><p><blockquote><tr><td>净自由现金流</td></tr></blockquote></p><p></td>    <td>$25,236,000</p><p><blockquote><td>$25,236,000</td></blockquote></p><p></td>   </tr>   <tr>    <td>Free Cash Flow Yield Per Share</p><p><blockquote><tr><td>每股自由现金流收益率</td></tr></blockquote></p><p></td>    <td>0.65%</p><p><blockquote><td>0.65%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Revenue Growth Rate</p><p><blockquote><tr><td>收入增长率</td></tr></blockquote></p><p></td>    <td>58.59%</p><p><blockquote><td>58.59%</td></blockquote></p><p></td>   </tr>   <tr></tr>  </tbody> </table> Source: SEC</p><p><blockquote><tr></tr>资料来源：SEC</blockquote></p><p> As a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:</p><p><blockquote>作为参考，潜在的公共可比公司是NICE Ltd.；下图是其主要估值指标的比较：</blockquote></p><p> <table>  <colgroup></colgroup>  <tbody>   <tr>    <td><b>Metric</b></p><p><blockquote><table><colgroup></colgroup><tbody><tr><td><b>公制</b></td></tr></tbody></table></blockquote></p><p></td>    <td><b>Nice Ltd.</b></p><p><blockquote><td><b>尼斯有限公司。</b></td></blockquote></p><p></td>    <td><b>EngageSmart</b></p><p><blockquote><td><b>参与智能</b></td></blockquote></p><p></td>    <td><b>Variance</b></p><p><blockquote><td><b>差异</b></td></blockquote></p><p></td>   </tr>   <tr>    <td>Price / Sales</p><p><blockquote><tr><td>价格/销售额</td></tr></blockquote></p><p></td>    <td>11.01</p><p><blockquote><td>11.01</td></blockquote></p><p></td>    <td>21.09</p><p><blockquote><td>21.09</td></blockquote></p><p></td>    <td>91.5%</p><p><blockquote><td>91.5%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / Revenue</p><p><blockquote><tr><td>EV/收入</td></tr></blockquote></p><p></td>    <td>10.67</p><p><blockquote><td>10.67</td></blockquote></p><p></td>    <td>19.96</p><p><blockquote><td>19.96</td></blockquote></p><p></td>    <td>87.1%</p><p><blockquote><td>87.1%</td></blockquote></p><p></td>   </tr>   <tr>    <td>EV / EBITDA</p><p><blockquote><tr><td>EV/EBITDA</td></tr></blockquote></p><p></td>    <td>41.73</p><p><blockquote><td>41.73</td></blockquote></p><p></td>    <td>377.37</p><p><blockquote><td>377.37</td></blockquote></p><p></td>    <td>804.3%</p><p><blockquote><td>804.3%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Earnings Per Share</p><p><blockquote><tr><td>每股盈利</td></tr></blockquote></p><p></td>    <td>$3.05</p><p><blockquote><td>$3.05</td></blockquote></p><p></td>    <td>$0.00</p><p><blockquote><td>$0.00</td></blockquote></p><p></td>    <td>-100.0%</p><p><blockquote><td>-100.0%</td></blockquote></p><p></td>   </tr>   <tr>    <td>Revenue Growth Rate</p><p><blockquote><tr><td>收入增长率</td></tr></blockquote></p><p></td>    <td>5.3%</p><p><blockquote><td>5.3%</td></blockquote></p><p></td>    <td>58.59%</p><p><blockquote><td>58.59%</td></blockquote></p><p></td>    <td>1003.34%</p><p><blockquote><td>1003.34%</td></blockquote></p><p></td>   </tr>   <tr></tr>  </tbody> </table> (S-1/A andSeeking Alpha)</p><p><blockquote><tr></tr>（S-1/A和Seeking Alpha）</blockquote></p><p> <b>Commentary</b></p><p><blockquote><b>评论</b></blockquote></p><p> ESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.</p><p><blockquote>ESMT正在寻求公共投资来偿还债务及其未具体说明的总体企业增长计划。</blockquote></p><p> The firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.</p><p><blockquote>该公司的财务数据显示，随着运营现金流的增长，营业利润和小幅净利润增长强劲。</blockquote></p><p> Free cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.</p><p><blockquote>截至2021年6月30日的12个月的自由现金流为2520万美元。</blockquote></p><p> Selling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.</p><p><blockquote>随着收入的增加，销售和营销费用占总收入的百分比有所下降，其销售和营销效率在最近六个月的报告期内降至1.1倍。</blockquote></p><p> The company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p><p><blockquote>该公司的40法则表现出色，截至2020年12月31日止年度以美元计算的净收入保留率为124%，这是一个强劲的业绩。</blockquote></p><p> The market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.</p><p><blockquote>为企业提供客户参与软件的市场机会很大，预计到2026年底规模将翻一番，因此该公司将受益于强劲的行业增长动力。</blockquote></p><p> JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p><p><blockquote>摩根大通是主要承销商，该公司在过去12个月内牵头的IPO自IPO以来的平均回报率为20.4%。这是期内所有主要承销商的中等表现。</blockquote></p><p> The primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.</p><p><blockquote>该公司前景的主要风险是大型公司有能力将其部分服务捆绑到现有产品中，从而导致价格下行压力和竞争加剧。</blockquote></p><p> As for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.</p><p><blockquote>至于估值，与部分竞争对手NICE相比，ESMT的收入增长速度要快得多，因此其更高的收入倍数似乎是合理的。</blockquote></p><p> Also, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.</p><p><blockquote>此外，该公司的增长速度比竞争对手Pegasystems快得多，因此似乎正在从这些公司和其他公司手中夺取客户参与市场的市场份额。</blockquote></p><p> Given the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.</p><p><blockquote>鉴于该公司相对于竞争对手的强劲增长和运营指标，虽然IPO并不便宜，但值得考虑。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ESMT":"EngageSmart Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159478468","content_text":"(Sept 23) EngageSmart Inc. opens for trading at $37, up about 43.6% from IPO price.\n\nCompany\nBraintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.\nManagement is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.\nThe company's primary offerings include:\n\nSimplePractice - Wellness\nInvoiceCloud - Government, Utilities and Financial Services\nHealthPay24 - Healthcare\nDonorDrive - Non-profit and Corporate Fundraising\n\nEngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.\nCustomer Acquisition\nThe firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.\nAs of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.\nSelling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:\n\n\n\n\nSelling and Marketing\nExpenses vs. Revenue\n\n\nPeriod\nPercentage\n\n\nSix Mos. Ended June 30, 2021\n32.4%\n\n\n2020\n33.1%\n\n\n2019\n43.1%\n\n\n\nSource: SEC\nThe Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:\n\n\n\n\nSelling and Marketing\nEfficiency Rate\n\n\nPeriod\nMultiple\n\n\nSix Mos. Ended June 30, 2021\n1.1\n\n\n2020\n1.3\n\n\n\nSource: SEC\nThe Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.\nESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:\n\n\n\n\nRule of 40\nCalculation\n\n\nRecent Rev. Growth %\n59%\n\n\nEBITDA %\n5%\n\n\nTotal\n64%\n\n\n\nSource: SEC\nThe firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.\nThe dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.\nMarket & Competition\nAccording to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.\nThis represents a forecast CAGR of 12.65% from 2021 to 2026.\nThe main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.\nAlso, a desire to reduce customer churn rate results in improved business financials and growing valuation.\nBelow is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:\nMajor competitive or other industry participants include:\n\nIBM(NYSE:IBM)\nMicrosoft(NASDAQ:MSFT)\nNuance(NASDAQ:NUAN)\nOracle(NYSE:ORCL)\nSalesforce(NYSE:CRM)\nAvaya(NYSE:AVYA)\nCalabrio\nAspect Software\nGenesys\nVerint Systems(NASDAQ:VRNT)\nNICE Ltd.(NASDAQ:NICE)\nOpenText\nPegasystems(NASDAQ:PEGA)\nOthers\n\nFinancial Performance\nEngageSmart's recent financial results can be summarized as follows:\n\nGrowing topline revenue\nIncreasing gross profit and high gross margin\nGrowing operating profit and net income\nIncreasing cash flow from operations\n\nBelow are relevant financial results derived from the firm's registration statement:\n\n\n\n\nTotal Revenue\n\n\nPeriod\nTotal Revenue\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 99,171,000\n58.6%\n\n\n2020\n$ 146,557,000\n77.8%\n\n\n2019\n$ 82,432,000\n\n\n\nGross Profit (Loss)\n\n\nPeriod\nGross Profit (Loss)\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 73,673,000\n61.4%\n\n\n2020\n$ 108,964,000\n89.2%\n\n\n2019\n$ 57,591,000\n\n\n\nGross Margin\n\n\nPeriod\nGross Margin\n\n\nSix Mos. Ended June 30, 2021\n74.29%\n\n\n2020\n74.35%\n\n\n2019\n69.86%\n\n\n\nOperating Profit (Loss)\n\n\nPeriod\nOperating Profit (Loss)\nOperating Margin\n\n\nSix Mos. Ended June 30, 2021\n$ 5,001,000\n5.0%\n\n\n2020\n$ 648,000\n0.4%\n\n\n2019\n$ (50,398,000)\n-61.1%\n\n\n\nNet Income (Loss)\n\n\nPeriod\nNet Income (Loss)\n\n\nSix Mos. Ended June 30, 2021\n$ 274,000\n\n\n2020\n$ (6,678,000)\n\n\n2019\n$ (53,598,000)\n\n\n\nCash Flow From Operations\n\n\nPeriod\nCash Flow From Operations\n\n\nSix Mos. Ended June 30, 2021\n$ 12,044,000\n\n\n2020\n$ 19,645,000\n\n\n2019\n$ (1,427,000)\n\n\n\n(Glossary Of Terms)\n\n\n\nSource: SEC\nAs of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.\nFree cash flow during the twelve months ended June 30, 2021, was $25.2 million.\nIPO Details\nESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.\nNew potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.\nAssuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.\nPer the firm's most recent regulatory filing, it plans to use the net proceeds as follows:\n\n We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.\n\n\n Source: SEC\n\nManagement's presentation of the company roadshow isavailable here.\nRegarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.\nListed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.\nValuation Metrics\nBelow is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:\n\n\n\n\nMeasure [TTM]\nAmount\n\n\nMarket Capitalization at IPO\n$3,862,956,720\n\n\nEnterprise Value\n$3,656,695,720\n\n\nPrice / Sales\n21.09\n\n\nEV / Revenue\n19.96\n\n\nEV / EBITDA\n377.37\n\n\nEarnings Per Share\n$0.00\n\n\nFloat To Outstanding Shares Ratio\n9.04%\n\n\nProposed IPO Midpoint Price per Share\n$24.00\n\n\nNet Free Cash Flow\n$25,236,000\n\n\nFree Cash Flow Yield Per Share\n0.65%\n\n\nRevenue Growth Rate\n58.59%\n\n\n\n\nSource: SEC\nAs a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:\n\n\n\n\nMetric\nNice Ltd.\nEngageSmart\nVariance\n\n\nPrice / Sales\n11.01\n21.09\n91.5%\n\n\nEV / Revenue\n10.67\n19.96\n87.1%\n\n\nEV / EBITDA\n41.73\n377.37\n804.3%\n\n\nEarnings Per Share\n$3.05\n$0.00\n-100.0%\n\n\nRevenue Growth Rate\n5.3%\n58.59%\n1003.34%\n\n\n\n\n(S-1/A andSeeking Alpha)\nCommentary\nESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.\nThe firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.\nFree cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.\nSelling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.\nThe company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.\nThe market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.\nJPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.\nThe primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.\nAs for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.\nAlso, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.\nGiven the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.","news_type":1,"symbols_score_info":{"ESMT":0.9}},"isVote":1,"tweetType":1,"viewCount":636,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815230438,"gmtCreate":1630679494724,"gmtModify":1631888787083,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Amazing!","listText":"Amazing!","text":"Amazing!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/815230438","repostId":"2164879370","repostType":4,"isVote":1,"tweetType":1,"viewCount":454,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811465365,"gmtCreate":1630337308757,"gmtModify":1704958781990,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Signal of price increase!","listText":"Signal of price increase!","text":"Signal of price increase!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/811465365","repostId":"1182034389","repostType":4,"isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174796988,"gmtCreate":1627136343444,"gmtModify":1631892989134,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Buy?","listText":"Buy?","text":"Buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/174796988","repostId":"1191636755","repostType":4,"repost":{"id":"1191636755","kind":"news","pubTimestamp":1627084309,"share":"https://www.laohu8.com/m/news/1191636755?lang=zh_CN&edition=full","pubTime":"2021-07-24 07:51","market":"us","language":"en","title":"Tesla Earnings Are Coming. Here’s the One Number That Matters.<blockquote>特斯拉财报即将发布。这是一个重要的数字。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1191636755","media":"Barrons","summary":"Tesla’s second-quarter earnings are just around the corner, and investors should gear up for a likel","content":"<p>Tesla’s second-quarter earnings are just around the corner, and investors should gear up for a likely very complicated report.</p><p><blockquote>特斯拉第二季度财报即将公布，投资者应该为一份可能非常复杂的报告做好准备。</blockquote></p><p> There are a lot of moving parts, even more than usual for the world’s most valuable car company and its iconoclast CEO Elon Musk. Figuring out if the stock will go up or down, however, shouldn’t be all that difficult.</p><p><blockquote>对于这家世界上最有价值的汽车公司及其打破传统的首席执行官埃隆·马斯克来说，有很多活动部件，甚至比平时还要多。然而，弄清楚股票是上涨还是下跌应该并不那么困难。</blockquote></p><p> The EV pioneer will report after the close of trading on Monday,July 26. Wall Street is looking for&nbsp;Tesla to report about 94 cents in per-share earnings from $11.5 billion in sales, according to FactSet. Beating analyst estimates is important, almost required, for any stock to remain stable in post-earnings trading. That’s true for Tesla as well.</p><p><blockquote>这家电动汽车先驱将于7月26日星期一收盘后发布报告。FactSet的数据显示，华尔街预计特斯拉的销售额为115亿美元，每股收益约为94美分。对于任何股票在财报后交易中保持稳定来说，超出分析师预期非常重要，几乎是必需的。特斯拉也是如此。</blockquote></p><p> There are plenty of factors that will contribute to bottom-line earnings—the global&nbsp;semiconductor&nbsp;shortage,vehicle pricing, vehicle gross profit margins, and the level of profitability in Tesla’s battery storage business. In the end, however, investors will want to see a record in operating profits—no matter how it happens. That’s what could break shares out of their recent range.</p><p><blockquote>有很多因素将影响底线收益——全球半导体短缺、汽车定价、汽车毛利率以及特斯拉电池存储业务的盈利水平。然而，最终，投资者将希望看到营业利润创纪录——无论它如何发生。这可能会使股价突破近期区间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/eb9cfd5cbe6d36d06167f82af45447d1\" tg-width=\"869\" tg-height=\"580\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Tesla reported more than $800 million in operating profits in the 2020 third quarter, and the stock more than doubled to around $860 in the three-month span that followed. But since operating profit growth largely paused in the subsequent quarters, shares have traded down from roughly $860 to around $640 recently. Profit stagnation has meant stock stagnation, too.</p><p><blockquote>特斯拉公布2020年第三季度营业利润超过8亿美元，该股在随后的三个月内上涨了一倍多，达到860美元左右。但由于随后几个季度营业利润增长基本暂停，股价最近已从约860美元跌至约640美元。利润停滞也意味着股票停滞。</blockquote></p><p> The good news for Tesla bulls is Wall Street is projecting a fresh record: Operating profit is expected to be $835 million for the second quarter, driven by strong deliveries. The 2021 second quarter marked the first time Tesla delivered&nbsp;more than 200,000&nbsp;vehicles in a single quarter.</p><p><blockquote>对于特斯拉多头来说，好消息是华尔街预计将创下新纪录：在强劲交付的推动下，第二季度营业利润预计为8.35亿美元。2021年第二季度是特斯拉单季度交付量首次超过20万辆。</blockquote></p><p> After earnings are digested, there should be endless arguments among bulls and bears about the quality of earnings. For instance, one way Tesla generates sales is by selling regulatory credits—which it earns by producing more than its fair share of electric vehicles. The company generated $518 million in first-quarter credit sales, which helped Tesla&nbsp;beat earnings&nbsp;estimates. There is always debate about what is the “normal” amount of credit sales and when will those sales dry up. Eventually, both the bulls and bears expect other auto makers to sell their own EVs, cutting off that source of revenue for Tesla.</p><p><blockquote>在盈利被消化后，多头和空头之间应该会对盈利质量争论不休。例如，特斯拉创造销售的一种方式是出售监管信用——它通过生产超过其公平份额的电动汽车来赚取监管信用。该公司第一季度信贷销售额为5.18亿美元，这帮助特斯拉超出了盈利预期。关于什么是“正常”的信贷销售金额以及这些销售何时会枯竭，一直存在争议。最终，多头和空头都预计其他汽车制造商将销售自己的电动汽车，从而切断特斯拉的收入来源。</blockquote></p><p> There is also the issue&nbsp;of Bitcoin. Tesla recognized a small gain on its Bitcoin holdings in the first quarter, but the cryptocurrency’s prices have fallen by roughly half since their April peak. That means there is a chance of a small loss. How investors react is anyone’s guess, but don’t expect Tesla to sell out of its Bitcoin position. Musk continues to indicate his company will transact in the cryptocurrency when Bitcoin mining uses more sustainable power.</p><p><blockquote>还有比特币的问题。特斯拉第一季度比特币持有量小幅增长，但该加密货币的价格自4月份的峰值以来已下跌约一半。这意味着有可能会有一点损失。投资者的反应谁也说不准，但不要指望特斯拉会抛售其比特币头寸。马斯克继续表示，当比特币矿业使用更可持续的电力时，他的公司将以加密货币进行交易。</blockquote></p><p> Investors will also want to know when Tesla’s new Germany plant and Austin, Texas facility will start delivering cars. The Austin plant will build Tesla’s&nbsp;Cybertruck. There will also likely be questions about advances in Tesla’s driver-assistance functions—the company recently started selling its driver-assistance software&nbsp;as a subscription—and how much money the company could make from its charging network. Musk tweeted this week Tesla would open its&nbsp;charging network&nbsp;to other EVs down the road.</p><p><blockquote>投资者还想知道特斯拉的新德国工厂和德克萨斯奥斯丁工厂何时开始交付汽车。奥斯丁工厂将生产特斯拉的Cybertruck。人们还可能会对特斯拉驾驶辅助功能的进步产生疑问——该公司最近开始以订阅形式销售其驾驶辅助软件——以及该公司可以从其充电网络中赚多少钱。马斯克本周在推特上表示，特斯拉将向其他电动汽车开放其充电网络。</blockquote></p><p> All those topics and more should come up on the earningsconference callscheduled for 5:30 p.m. ET on Monday. Year to date, Tesla stock is down roughly 9%, trailing behind comparable 17% and 15% respective gains of theS&amp;P 500andDow Jones Industrial Average.Still, Tesla shares have had a strong run, up about 112% over the past 12 months.</p><p><blockquote>所有这些话题以及更多话题都应该出现在定于下午5:30举行的财报电话会议上。美国东部时间周一。今年迄今为止，特斯拉股价已下跌约9%，落后于标准普尔500指数和道琼斯工业平均指数分别17%和15%的涨幅。尽管如此，特斯拉股价仍表现强劲，在过去12个月内上涨了约112%。</blockquote></p><p></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 Earnings Are Coming. Here’s the One Number That Matters.<blockquote>特斯拉财报即将发布。这是一个重要的数字。</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\">\nTesla Earnings Are Coming. Here’s the One Number That Matters.<blockquote>特斯拉财报即将发布。这是一个重要的数字。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-07-24 07:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tesla’s second-quarter earnings are just around the corner, and investors should gear up for a likely very complicated report.</p><p><blockquote>特斯拉第二季度财报即将公布，投资者应该为一份可能非常复杂的报告做好准备。</blockquote></p><p> There are a lot of moving parts, even more than usual for the world’s most valuable car company and its iconoclast CEO Elon Musk. Figuring out if the stock will go up or down, however, shouldn’t be all that difficult.</p><p><blockquote>对于这家世界上最有价值的汽车公司及其打破传统的首席执行官埃隆·马斯克来说，有很多活动部件，甚至比平时还要多。然而，弄清楚股票是上涨还是下跌应该并不那么困难。</blockquote></p><p> The EV pioneer will report after the close of trading on Monday,July 26. Wall Street is looking for&nbsp;Tesla to report about 94 cents in per-share earnings from $11.5 billion in sales, according to FactSet. Beating analyst estimates is important, almost required, for any stock to remain stable in post-earnings trading. That’s true for Tesla as well.</p><p><blockquote>这家电动汽车先驱将于7月26日星期一收盘后发布报告。FactSet的数据显示，华尔街预计特斯拉的销售额为115亿美元，每股收益约为94美分。对于任何股票在财报后交易中保持稳定来说，超出分析师预期非常重要，几乎是必需的。特斯拉也是如此。</blockquote></p><p> There are plenty of factors that will contribute to bottom-line earnings—the global&nbsp;semiconductor&nbsp;shortage,vehicle pricing, vehicle gross profit margins, and the level of profitability in Tesla’s battery storage business. In the end, however, investors will want to see a record in operating profits—no matter how it happens. That’s what could break shares out of their recent range.</p><p><blockquote>有很多因素将影响底线收益——全球半导体短缺、汽车定价、汽车毛利率以及特斯拉电池存储业务的盈利水平。然而，最终，投资者将希望看到营业利润创纪录——无论它如何发生。这可能会使股价突破近期区间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/eb9cfd5cbe6d36d06167f82af45447d1\" tg-width=\"869\" tg-height=\"580\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Tesla reported more than $800 million in operating profits in the 2020 third quarter, and the stock more than doubled to around $860 in the three-month span that followed. But since operating profit growth largely paused in the subsequent quarters, shares have traded down from roughly $860 to around $640 recently. Profit stagnation has meant stock stagnation, too.</p><p><blockquote>特斯拉公布2020年第三季度营业利润超过8亿美元，该股在随后的三个月内上涨了一倍多，达到860美元左右。但由于随后几个季度营业利润增长基本暂停，股价最近已从约860美元跌至约640美元。利润停滞也意味着股票停滞。</blockquote></p><p> The good news for Tesla bulls is Wall Street is projecting a fresh record: Operating profit is expected to be $835 million for the second quarter, driven by strong deliveries. The 2021 second quarter marked the first time Tesla delivered&nbsp;more than 200,000&nbsp;vehicles in a single quarter.</p><p><blockquote>对于特斯拉多头来说，好消息是华尔街预计将创下新纪录：在强劲交付的推动下，第二季度营业利润预计为8.35亿美元。2021年第二季度是特斯拉单季度交付量首次超过20万辆。</blockquote></p><p> After earnings are digested, there should be endless arguments among bulls and bears about the quality of earnings. For instance, one way Tesla generates sales is by selling regulatory credits—which it earns by producing more than its fair share of electric vehicles. The company generated $518 million in first-quarter credit sales, which helped Tesla&nbsp;beat earnings&nbsp;estimates. There is always debate about what is the “normal” amount of credit sales and when will those sales dry up. Eventually, both the bulls and bears expect other auto makers to sell their own EVs, cutting off that source of revenue for Tesla.</p><p><blockquote>在盈利被消化后，多头和空头之间应该会对盈利质量争论不休。例如，特斯拉创造销售的一种方式是出售监管信用——它通过生产超过其公平份额的电动汽车来赚取监管信用。该公司第一季度信贷销售额为5.18亿美元，这帮助特斯拉超出了盈利预期。关于什么是“正常”的信贷销售金额以及这些销售何时会枯竭，一直存在争议。最终，多头和空头都预计其他汽车制造商将销售自己的电动汽车，从而切断特斯拉的收入来源。</blockquote></p><p> There is also the issue&nbsp;of Bitcoin. Tesla recognized a small gain on its Bitcoin holdings in the first quarter, but the cryptocurrency’s prices have fallen by roughly half since their April peak. That means there is a chance of a small loss. How investors react is anyone’s guess, but don’t expect Tesla to sell out of its Bitcoin position. Musk continues to indicate his company will transact in the cryptocurrency when Bitcoin mining uses more sustainable power.</p><p><blockquote>还有比特币的问题。特斯拉第一季度比特币持有量小幅增长，但该加密货币的价格自4月份的峰值以来已下跌约一半。这意味着有可能会有一点损失。投资者的反应谁也说不准，但不要指望特斯拉会抛售其比特币头寸。马斯克继续表示，当比特币矿业使用更可持续的电力时，他的公司将以加密货币进行交易。</blockquote></p><p> Investors will also want to know when Tesla’s new Germany plant and Austin, Texas facility will start delivering cars. The Austin plant will build Tesla’s&nbsp;Cybertruck. There will also likely be questions about advances in Tesla’s driver-assistance functions—the company recently started selling its driver-assistance software&nbsp;as a subscription—and how much money the company could make from its charging network. Musk tweeted this week Tesla would open its&nbsp;charging network&nbsp;to other EVs down the road.</p><p><blockquote>投资者还想知道特斯拉的新德国工厂和德克萨斯奥斯丁工厂何时开始交付汽车。奥斯丁工厂将生产特斯拉的Cybertruck。人们还可能会对特斯拉驾驶辅助功能的进步产生疑问——该公司最近开始以订阅形式销售其驾驶辅助软件——以及该公司可以从其充电网络中赚多少钱。马斯克本周在推特上表示，特斯拉将向其他电动汽车开放其充电网络。</blockquote></p><p> All those topics and more should come up on the earningsconference callscheduled for 5:30 p.m. ET on Monday. Year to date, Tesla stock is down roughly 9%, trailing behind comparable 17% and 15% respective gains of theS&amp;P 500andDow Jones Industrial Average.Still, Tesla shares have had a strong run, up about 112% over the past 12 months.</p><p><blockquote>所有这些话题以及更多话题都应该出现在定于下午5:30举行的财报电话会议上。美国东部时间周一。今年迄今为止，特斯拉股价已下跌约9%，落后于标准普尔500指数和道琼斯工业平均指数分别17%和15%的涨幅。尽管如此，特斯拉股价仍表现强劲，在过去12个月内上涨了约112%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-earnings-preview-51627061822?mod=hp_DAY_Theme_2_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\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-stock-earnings-preview-51627061822?mod=hp_DAY_Theme_2_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191636755","content_text":"Tesla’s second-quarter earnings are just around the corner, and investors should gear up for a likely very complicated report.\nThere are a lot of moving parts, even more than usual for the world’s most valuable car company and its iconoclast CEO Elon Musk. Figuring out if the stock will go up or down, however, shouldn’t be all that difficult.\nThe EV pioneer will report after the close of trading on Monday,July 26. Wall Street is looking for Tesla to report about 94 cents in per-share earnings from $11.5 billion in sales, according to FactSet. Beating analyst estimates is important, almost required, for any stock to remain stable in post-earnings trading. That’s true for Tesla as well.\nThere are plenty of factors that will contribute to bottom-line earnings—the global semiconductor shortage,vehicle pricing, vehicle gross profit margins, and the level of profitability in Tesla’s battery storage business. In the end, however, investors will want to see a record in operating profits—no matter how it happens. That’s what could break shares out of their recent range.\n\nTesla reported more than $800 million in operating profits in the 2020 third quarter, and the stock more than doubled to around $860 in the three-month span that followed. But since operating profit growth largely paused in the subsequent quarters, shares have traded down from roughly $860 to around $640 recently. Profit stagnation has meant stock stagnation, too.\nThe good news for Tesla bulls is Wall Street is projecting a fresh record: Operating profit is expected to be $835 million for the second quarter, driven by strong deliveries. The 2021 second quarter marked the first time Tesla delivered more than 200,000 vehicles in a single quarter.\nAfter earnings are digested, there should be endless arguments among bulls and bears about the quality of earnings. For instance, one way Tesla generates sales is by selling regulatory credits—which it earns by producing more than its fair share of electric vehicles. The company generated $518 million in first-quarter credit sales, which helped Tesla beat earnings estimates. There is always debate about what is the “normal” amount of credit sales and when will those sales dry up. Eventually, both the bulls and bears expect other auto makers to sell their own EVs, cutting off that source of revenue for Tesla.\nThere is also the issue of Bitcoin. Tesla recognized a small gain on its Bitcoin holdings in the first quarter, but the cryptocurrency’s prices have fallen by roughly half since their April peak. That means there is a chance of a small loss. How investors react is anyone’s guess, but don’t expect Tesla to sell out of its Bitcoin position. Musk continues to indicate his company will transact in the cryptocurrency when Bitcoin mining uses more sustainable power.\nInvestors will also want to know when Tesla’s new Germany plant and Austin, Texas facility will start delivering cars. The Austin plant will build Tesla’s Cybertruck. There will also likely be questions about advances in Tesla’s driver-assistance functions—the company recently started selling its driver-assistance software as a subscription—and how much money the company could make from its charging network. Musk tweeted this week Tesla would open its charging network to other EVs down the road.\nAll those topics and more should come up on the earningsconference callscheduled for 5:30 p.m. ET on Monday. Year to date, Tesla stock is down roughly 9%, trailing behind comparable 17% and 15% respective gains of theS&P 500andDow Jones Industrial Average.Still, Tesla shares have had a strong run, up about 112% over the past 12 months.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":333,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109989373,"gmtCreate":1619658978592,"gmtModify":1634210955720,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Excellent","listText":"Excellent","text":"Excellent","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/109989373","repostId":"1137964402","repostType":4,"repost":{"id":"1137964402","kind":"news","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":1619651546,"share":"https://www.laohu8.com/m/news/1137964402?lang=zh_CN&edition=full","pubTime":"2021-04-29 07:12","market":"us","language":"en","title":"Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks<blockquote>苹果报告又一个井喷季度销售额增长54%，授权900亿美元股票回购</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137964402","media":"Tiger Newspress","summary":"Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple did not issue official guidance for what it expects in the quarter ending in June.Apple authorized $90 billion in share buybacks.Apple stock rose over 4% at one point in extended trading.Apple reported double-digit growth in every single one of its product categories, and its most important product line, the iPhone, was up 65","content":"<p><b>KEY POINTS</b></p><p><blockquote><b>要点</b></blockquote></p><p><ul><li>Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</li><li>Apple did not issue official guidance for what it expects in the quarter ending in June.</li><li>Apple authorized $90 billion in share buybacks.</li></ul>Apple&nbsp;reported&nbsp;a blowout quarter&nbsp;on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</p><p><blockquote><ul><li>苹果周三公布了井喷季度业绩，宣布全公司销售额比去年增长54%，利润明显强于华尔街预期。</li><li>苹果没有就截至6月份的季度的预期发布官方指引。</li><li>苹果授权900亿美元的股票回购。</li></ul>苹果周三公布了井喷季度业绩，宣布全公司销售额比去年增长54%，利润明显强于华尔街预期。</blockquote></p><p>Apple stock rose over 4% at one point in extended trading.</p><p><blockquote>苹果股价在盘后交易中一度上涨超过4%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4e791f63f460807906f1793c2d58933e\" tg-width=\"1302\" tg-height=\"833\"></p><p><blockquote></blockquote></p><p>Apple reported double-digit growth in every single one of its product categories, and its&nbsp;most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales&nbsp;did&nbsp;better, with its computers up 70.1% and iPad&nbsp;sales&nbsp;growing nearly 79% on an annual basis.</p><p><blockquote>苹果报告称，其每个产品类别都实现了两位数的增长，其最重要的产品线iPhone比去年增长了65.5%。其Mac和iPad销量表现更好，电脑销量同比增长70.1%，iPad销量同比增长近79%。</blockquote></p><p>Apple said it would increase its dividend by 7%&nbsp;to $0.22 per share&nbsp;and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay&nbsp;and 2019′s $75 billion.</p><p><blockquote>苹果表示，将把股息提高7%至每股0.22美元，并授权900亿美元的股票回购，这明显高于去年的500亿美元支出和2019年的750亿美元。</blockquote></p><p>Here’s how Apple did versus Refinitiv estimates:</p><p><blockquote>以下是苹果与Refinitiv估计的表现：</blockquote></p><p><ul><li><b>EPS</b>:&nbsp;$1.40&nbsp;vs. $0.99 estimated</li><li><b>Revenue</b>:&nbsp;$89.58&nbsp;billion&nbsp;vs. $77.36&nbsp;billion&nbsp;estimated, up 53.7% year-over-year</li><li><b>iPhone revenue</b>:&nbsp;$47.94 billion&nbsp;vs. $41.43&nbsp;billion&nbsp;estimated, up&nbsp;65.5% year-over-year</li><li><b>Services revenue</b>:&nbsp;$16.90 billion&nbsp;vs. $15.57&nbsp;billion&nbsp;estimated, up 26.7% year over&nbsp;year</li><li><b>Other Products revenue</b>:&nbsp;$7.83&nbsp;billion&nbsp;vs. $7.79&nbsp;billion&nbsp;estimated,&nbsp;up 24%&nbsp;year-over-year</li><li><b>Mac revenue</b>:&nbsp;$9.10&nbsp;billion&nbsp;vs. $6.86&nbsp;billion&nbsp;estimated, up 70.1% year-over-year</li><li><b>iPad revenue</b>:&nbsp;$7.80 billion&nbsp;vs. $5.58&nbsp;billion&nbsp;estimated, up 78.9% year-over-year</li><li><b>Gross margin</b>:&nbsp;42.5% vs. 39.8%&nbsp;estimated</li></ul>Apple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue&nbsp;guidance since the start of the pandemic, citing uncertainty.&nbsp;This is Apple’s second quarter in a row with double-digit growth in all product categories.&nbsp;Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.</p><p><blockquote><ul><li><b>EPS</b>：1.40美元对比。估计0.99美元</li><li><b>收入</b>：895.8亿美元对比。预计773.6亿美元，同比增长53.7%</li><li><b>iPhone收入</b>：479.4亿美元对比。预计为414.3亿美元，同比增长65.5%</li><li><b>服务收入</b>：169亿美元vs.预计155.7亿美元，同比增长26.7%</li><li><b>其他产品收益</b>：78.3亿美元对比。预计77.9亿美元，同比增长24%</li><li><b>Mac收入</b>：91亿美元vs.预计68.6亿美元，同比增长70.1%</li><li><b>iPad收入</b>：78亿美元vs.预计55.8亿美元，同比增长78.9%</li><li><b>毛利率</b>：42.5%vs.估计值39.8%</li></ul>苹果没有就截至6月份的季度的预期发布官方指引。自疫情开始以来，该公司一直没有提供收入指引，理由是存在不确定性。这是苹果连续第二个季度在所有产品类别中实现两位数增长。苹果首席财务官Luca Maestri告诉分析师，该公司预计6月份季度的收入将同比增长两位数，尽管由于全球芯片短缺，该公司面临一些供应短缺。</blockquote></p><p>Apple has said in the past months that its business has been boosted by the pandemic as consumers&nbsp;and businesses&nbsp;bought&nbsp;computers&nbsp;to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies&nbsp;open up.</p><p><blockquote>苹果在过去几个月表示，随着消费者和企业购买电脑在家工作和娱乐，其业务受到了疫情的提振。但苹果本季度的强劲业绩表明，随着更多经济体的开放，这一趋势可能会持续下去。</blockquote></p><p>Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this&nbsp;moment in their own lives, as well as the optimism consumers seem to feel about better days&nbsp;ahead for all of us.”</p><p><blockquote>或者，正如苹果首席执行官蒂姆·库克(Tim Cook)在一份声明中所说：“本季度既反映了我们的产品帮助用户在自己的生活中迎接这一时刻的持久方式，也反映了消费者似乎对所有人未来更好的日子感到乐观。我们。”</blockquote></p><p>Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac&nbsp;laptops&nbsp;that used its own M1 chips&nbsp;for longer battery life, instead of processors sold by&nbsp;Intel.&nbsp;iPad sales were up&nbsp;nearly 79% year-over-year.</p><p><blockquote>Mac的销量增长了70%，库克表示，这一结果是由该公司推出的Mac笔记本电脑“推动”的，这些笔记本电脑使用了自己的M1芯片，电池寿命更长，而不是英特尔销售的处理器，iPad的销量同比增长了近79%。</blockquote></p><p>Neither of those&nbsp;results&nbsp;include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.</p><p><blockquote>这两个结果都不包括该公司3月份宣布的iPad Pro或iMac型号，预计这些型号将推动额外需求。</blockquote></p><p>“We’re seeing strong first-time buyers on the Mac&nbsp;…&nbsp;it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that&nbsp;…&nbsp;it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”</p><p><blockquote>库克对CNBC的乔什·利普顿(Josh Lipton)表示：“我们看到Mac的首次购买者数量强劲……这一比例继续略低于50%。”“而且，在中国，这个数字甚至更高……大约是三分之二。这表明人们更喜欢在Mac上工作。”</blockquote></p><p>Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.</p><p><blockquote>苹果的iPhone本季度也公布了强劲的业绩，平息了人们对当前年度周期可能放缓的担忧。去年，苹果发布了具有新外观设计和5G支持的iPhone，许多投资者认为这可能会引发一个重大升级周期，本季度的业绩表明了这一点。</blockquote></p><p>In greater China, which includes the mainland, Hong Kong, and Taiwan,&nbsp;Apple’s revenue increased over&nbsp;87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic.&nbsp;Every other geographical category, including the Americas and Europe, were also up on an annual basis.</p><p><blockquote>在包括大陆、香港和台湾在内的大中华区，苹果的收入同比增长超过87%，达到177.3亿美元，尽管相比之下，去年中国在疫情初期基本上处于关闭状态。其他所有地理类别，包括美洲和欧洲，也同比增长。</blockquote></p><p><img src=\"https://static.tigerbbs.com/37a8b45c92174e3c9ab224d9a85f5e2d\" tg-width=\"1910\" tg-height=\"1114\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Apple’s&nbsp;high-margin&nbsp;services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.</p><p><blockquote>苹果的高利润服务业务，包括iCloud、App Store和苹果音乐等订阅业务，也实现了26.7%的增长。</blockquote></p><p></p><p>One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.</p><p><blockquote>苹果用来显示服务增长的一个指标是其订阅数量，其中不仅包括苹果One等自有订阅，还包括通过其App Store进行的订阅。</blockquote></p><p>“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.</p><p><blockquote>库克对CNBC表示：“我们平台上的服务现在有超过6.6亿付费订阅，比上一季度增加了4000万，比3500万有所增长。”</blockquote></p><p>However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.</p><p><blockquote>然而，苹果的应用商店受到了立法者和公司的挑战，他们说它成本太高，权力太大。堡垒之夜制造商Epic Games就App Store政策进行的备受关注的审判将于下周开始。</blockquote></p><p>“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.</p><p><blockquote>“App Store是一个经济奇迹。据估计，去年有超过5000亿美元的经济活动因为应用商店。因此，这不仅是美国的经济游戏规则改变者，也是世界上几个国家的经济规则改变者。我们将走进去讲述我们的故事。我们会看到它会走向何方。但是，我们有信心，”库克告诉CNBC。</blockquote></p><p>Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.</p><p><blockquote>苹果的毛利率也异常高。大多数季度，利润率往往在38%至39%之间，但在截至3月份的季度，苹果报告利润率为42.5%。</blockquote></p><p></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 reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks<blockquote>苹果报告又一个井喷季度销售额增长54%，授权900亿美元股票回购</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; 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}\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 reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks<blockquote>苹果报告又一个井喷季度销售额增长54%，授权900亿美元股票回购</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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 smaller\">2021-04-29 07:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>KEY POINTS</b></p><p><blockquote><b>要点</b></blockquote></p><p><ul><li>Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</li><li>Apple did not issue official guidance for what it expects in the quarter ending in June.</li><li>Apple authorized $90 billion in share buybacks.</li></ul>Apple&nbsp;reported&nbsp;a blowout quarter&nbsp;on Wednesday, announcing companywide sales up 54% higher than last year, and&nbsp;significantly stronger profits than Wall Street expected.</p><p><blockquote><ul><li>苹果周三公布了井喷季度业绩，宣布全公司销售额比去年增长54%，利润明显强于华尔街预期。</li><li>苹果没有就截至6月份的季度的预期发布官方指引。</li><li>苹果授权900亿美元的股票回购。</li></ul>苹果周三公布了井喷季度业绩，宣布全公司销售额比去年增长54%，利润明显强于华尔街预期。</blockquote></p><p>Apple stock rose over 4% at one point in extended trading.</p><p><blockquote>苹果股价在盘后交易中一度上涨超过4%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4e791f63f460807906f1793c2d58933e\" tg-width=\"1302\" tg-height=\"833\"></p><p><blockquote></blockquote></p><p>Apple reported double-digit growth in every single one of its product categories, and its&nbsp;most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales&nbsp;did&nbsp;better, with its computers up 70.1% and iPad&nbsp;sales&nbsp;growing nearly 79% on an annual basis.</p><p><blockquote>苹果报告称，其每个产品类别都实现了两位数的增长，其最重要的产品线iPhone比去年增长了65.5%。其Mac和iPad销量表现更好，电脑销量同比增长70.1%，iPad销量同比增长近79%。</blockquote></p><p>Apple said it would increase its dividend by 7%&nbsp;to $0.22 per share&nbsp;and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay&nbsp;and 2019′s $75 billion.</p><p><blockquote>苹果表示，将把股息提高7%至每股0.22美元，并授权900亿美元的股票回购，这明显高于去年的500亿美元支出和2019年的750亿美元。</blockquote></p><p>Here’s how Apple did versus Refinitiv estimates:</p><p><blockquote>以下是苹果与Refinitiv估计的表现：</blockquote></p><p><ul><li><b>EPS</b>:&nbsp;$1.40&nbsp;vs. $0.99 estimated</li><li><b>Revenue</b>:&nbsp;$89.58&nbsp;billion&nbsp;vs. $77.36&nbsp;billion&nbsp;estimated, up 53.7% year-over-year</li><li><b>iPhone revenue</b>:&nbsp;$47.94 billion&nbsp;vs. $41.43&nbsp;billion&nbsp;estimated, up&nbsp;65.5% year-over-year</li><li><b>Services revenue</b>:&nbsp;$16.90 billion&nbsp;vs. $15.57&nbsp;billion&nbsp;estimated, up 26.7% year over&nbsp;year</li><li><b>Other Products revenue</b>:&nbsp;$7.83&nbsp;billion&nbsp;vs. $7.79&nbsp;billion&nbsp;estimated,&nbsp;up 24%&nbsp;year-over-year</li><li><b>Mac revenue</b>:&nbsp;$9.10&nbsp;billion&nbsp;vs. $6.86&nbsp;billion&nbsp;estimated, up 70.1% year-over-year</li><li><b>iPad revenue</b>:&nbsp;$7.80 billion&nbsp;vs. $5.58&nbsp;billion&nbsp;estimated, up 78.9% year-over-year</li><li><b>Gross margin</b>:&nbsp;42.5% vs. 39.8%&nbsp;estimated</li></ul>Apple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue&nbsp;guidance since the start of the pandemic, citing uncertainty.&nbsp;This is Apple’s second quarter in a row with double-digit growth in all product categories.&nbsp;Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.</p><p><blockquote><ul><li><b>EPS</b>：1.40美元对比。估计0.99美元</li><li><b>收入</b>：895.8亿美元对比。预计773.6亿美元，同比增长53.7%</li><li><b>iPhone收入</b>：479.4亿美元对比。预计为414.3亿美元，同比增长65.5%</li><li><b>服务收入</b>：169亿美元vs.预计155.7亿美元，同比增长26.7%</li><li><b>其他产品收益</b>：78.3亿美元对比。预计77.9亿美元，同比增长24%</li><li><b>Mac收入</b>：91亿美元vs.预计68.6亿美元，同比增长70.1%</li><li><b>iPad收入</b>：78亿美元vs.预计55.8亿美元，同比增长78.9%</li><li><b>毛利率</b>：42.5%vs.估计值39.8%</li></ul>苹果没有就截至6月份的季度的预期发布官方指引。自疫情开始以来，该公司一直没有提供收入指引，理由是存在不确定性。这是苹果连续第二个季度在所有产品类别中实现两位数增长。苹果首席财务官Luca Maestri告诉分析师，该公司预计6月份季度的收入将同比增长两位数，尽管由于全球芯片短缺，该公司面临一些供应短缺。</blockquote></p><p>Apple has said in the past months that its business has been boosted by the pandemic as consumers&nbsp;and businesses&nbsp;bought&nbsp;computers&nbsp;to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies&nbsp;open up.</p><p><blockquote>苹果在过去几个月表示，随着消费者和企业购买电脑在家工作和娱乐，其业务受到了疫情的提振。但苹果本季度的强劲业绩表明，随着更多经济体的开放，这一趋势可能会持续下去。</blockquote></p><p>Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this&nbsp;moment in their own lives, as well as the optimism consumers seem to feel about better days&nbsp;ahead for all of us.”</p><p><blockquote>或者，正如苹果首席执行官蒂姆·库克(Tim Cook)在一份声明中所说：“本季度既反映了我们的产品帮助用户在自己的生活中迎接这一时刻的持久方式，也反映了消费者似乎对所有人未来更好的日子感到乐观。我们。”</blockquote></p><p>Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac&nbsp;laptops&nbsp;that used its own M1 chips&nbsp;for longer battery life, instead of processors sold by&nbsp;Intel.&nbsp;iPad sales were up&nbsp;nearly 79% year-over-year.</p><p><blockquote>Mac的销量增长了70%，库克表示，这一结果是由该公司推出的Mac笔记本电脑“推动”的，这些笔记本电脑使用了自己的M1芯片，电池寿命更长，而不是英特尔销售的处理器，iPad的销量同比增长了近79%。</blockquote></p><p>Neither of those&nbsp;results&nbsp;include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.</p><p><blockquote>这两个结果都不包括该公司3月份宣布的iPad Pro或iMac型号，预计这些型号将推动额外需求。</blockquote></p><p>“We’re seeing strong first-time buyers on the Mac&nbsp;…&nbsp;it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that&nbsp;…&nbsp;it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”</p><p><blockquote>库克对CNBC的乔什·利普顿(Josh Lipton)表示：“我们看到Mac的首次购买者数量强劲……这一比例继续略低于50%。”“而且，在中国，这个数字甚至更高……大约是三分之二。这表明人们更喜欢在Mac上工作。”</blockquote></p><p>Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.</p><p><blockquote>苹果的iPhone本季度也公布了强劲的业绩，平息了人们对当前年度周期可能放缓的担忧。去年，苹果发布了具有新外观设计和5G支持的iPhone，许多投资者认为这可能会引发一个重大升级周期，本季度的业绩表明了这一点。</blockquote></p><p>In greater China, which includes the mainland, Hong Kong, and Taiwan,&nbsp;Apple’s revenue increased over&nbsp;87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic.&nbsp;Every other geographical category, including the Americas and Europe, were also up on an annual basis.</p><p><blockquote>在包括大陆、香港和台湾在内的大中华区，苹果的收入同比增长超过87%，达到177.3亿美元，尽管相比之下，去年中国在疫情初期基本上处于关闭状态。其他所有地理类别，包括美洲和欧洲，也同比增长。</blockquote></p><p><img src=\"https://static.tigerbbs.com/37a8b45c92174e3c9ab224d9a85f5e2d\" tg-width=\"1910\" tg-height=\"1114\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Apple’s&nbsp;high-margin&nbsp;services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.</p><p><blockquote>苹果的高利润服务业务，包括iCloud、App Store和苹果音乐等订阅业务，也实现了26.7%的增长。</blockquote></p><p></p><p>One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.</p><p><blockquote>苹果用来显示服务增长的一个指标是其订阅数量，其中不仅包括苹果One等自有订阅，还包括通过其App Store进行的订阅。</blockquote></p><p>“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.</p><p><blockquote>库克对CNBC表示：“我们平台上的服务现在有超过6.6亿付费订阅，比上一季度增加了4000万，比3500万有所增长。”</blockquote></p><p>However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.</p><p><blockquote>然而，苹果的应用商店受到了立法者和公司的挑战，他们说它成本太高，权力太大。堡垒之夜制造商Epic Games就App Store政策进行的备受关注的审判将于下周开始。</blockquote></p><p>“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.</p><p><blockquote>“App Store是一个经济奇迹。据估计，去年有超过5000亿美元的经济活动因为应用商店。因此，这不仅是美国的经济游戏规则改变者，也是世界上几个国家的经济规则改变者。我们将走进去讲述我们的故事。我们会看到它会走向何方。但是，我们有信心，”库克告诉CNBC。</blockquote></p><p>Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.</p><p><blockquote>苹果的毛利率也异常高。大多数季度，利润率往往在38%至39%之间，但在截至3月份的季度，苹果报告利润率为42.5%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137964402","content_text":"KEY POINTSApple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple did not issue official guidance for what it expects in the quarter ending in June.Apple authorized $90 billion in share buybacks.Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.Apple stock rose over 4% at one point in extended trading.Apple reported double-digit growth in every single one of its product categories, and its most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales did better, with its computers up 70.1% and iPad sales growing nearly 79% on an annual basis.Apple said it would increase its dividend by 7% to $0.22 per share and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay and 2019′s $75 billion.Here’s how Apple did versus Refinitiv estimates:EPS: $1.40 vs. $0.99 estimatedRevenue: $89.58 billion vs. $77.36 billion estimated, up 53.7% year-over-yeariPhone revenue: $47.94 billion vs. $41.43 billion estimated, up 65.5% year-over-yearServices revenue: $16.90 billion vs. $15.57 billion estimated, up 26.7% year over yearOther Products revenue: $7.83 billion vs. $7.79 billion estimated, up 24% year-over-yearMac revenue: $9.10 billion vs. $6.86 billion estimated, up 70.1% year-over-yeariPad revenue: $7.80 billion vs. $5.58 billion estimated, up 78.9% year-over-yearGross margin: 42.5% vs. 39.8% estimatedApple did not issue official guidance for what it expects in the quarter ending in June. It hasn’t provided revenue guidance since the start of the pandemic, citing uncertainty. This is Apple’s second quarter in a row with double-digit growth in all product categories. Apple CFO Luca Maestri told analysts that the company expects June quarter revenue to rise by double digits year-over-year, although it faces some supply shortages due to the worldwide chip shortage.Apple has said in the past months that its business has been boosted by the pandemic as consumers and businesses bought computers to work and entertain themselves while at home. But Apple’s strong results in the quarter suggest that the trend may persist as more economies open up.Or, as Apple CEO Tim Cook said in a statement: “This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us.”Mac sales were up 70%, and Cook said that the result was “fueled by” the company’s introduction of its Mac laptops that used its own M1 chips for longer battery life, instead of processors sold by Intel. iPad sales were up nearly 79% year-over-year.Neither of those results include iPad Pro or iMac models the company announced in March, which are expected to drive additional demand.“We’re seeing strong first-time buyers on the Mac … it continues to run just south of 50%,” Cook told CNBC’s Josh Lipton. “And, in China, it’s even higher than that … it’s more around two-thirds. And that speaks to people preferring to work on the Mac.”Apple’s iPhone also reported strong results this quarter, quelling fears that the current annual cycle could slow down. Last year, Apple released iPhones with a new exterior design and 5G support, which many investors believed could prompt a major upgrade cycle, which this quarter’s results indicate.In greater China, which includes the mainland, Hong Kong, and Taiwan, Apple’s revenue increased over 87% year-over-year to $17.73 billion, although the comparison is to a quarter last year in which China was largely shut down in the early days of the pandemic. Every other geographical category, including the Americas and Europe, were also up on an annual basis.Apple’s high-margin services business, including iCloud, App Store, and subscriptions like Apple Music, also showed 26.7% growth.One metric that Apple uses to show the growth in services is the number of subscriptions it has, which not only include its own subscriptions like Apple One, but also subscriptions through its App Store.“We now have over 660 million paid subscriptions across the services on the platform, and that’s up 40 million from the previous quarter, which is an acceleration from 35 million,” Cook told CNBC.However, Apple’s App Store has been challenged by lawmakers and companies that say it costs too much and has too much power. A closely-watched trial with Fortnite maker Epic Games over App Store policies kicks off next week.“The App Store has been an economic miracle. Last year, the estimates are that there was over a half a trillion dollars of economic activity because of the store. And, so, this has been just an economic gamechanger for not only the United States, but several countries around the world. And, we’re going to go in and tell our story. And we’ll see where it goes. But, we’re confident,” Cook told CNBC.Apple’s gross margin was also unusually elevated for the company. Most quarters, it tends to be in the 38% to 39% range, but in the quarter ending in March, Apple reported 42.5% margins.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":401,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":357891317,"gmtCreate":1617254029639,"gmtModify":1634521778930,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/357891317","repostId":"2124820988","repostType":4,"isVote":1,"tweetType":1,"viewCount":552,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351717482,"gmtCreate":1616633251946,"gmtModify":1634524835131,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"&nbsp;Pls like","listText":"&nbsp;Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/351717482","repostId":"1136014645","repostType":4,"repost":{"id":"1136014645","kind":"news","pubTimestamp":1616632845,"share":"https://www.laohu8.com/m/news/1136014645?lang=zh_CN&edition=full","pubTime":"2021-03-25 08:40","market":"us","language":"en","title":"Apollo-backed SPAC looks to raise $400 million through U.S. IPO<blockquote>Apollo支持的SPAC希望通过美国IPO筹集4亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1136014645","media":"reuters","summary":"(Reuters) - An affiliate of private equity firm Apollo Global Management Inc is looking to raise $40","content":"<p>(Reuters) - An affiliate of private equity firm Apollo Global Management Inc is looking to raise $400 million for a blank-check company through a U.S. initial public offering (IPO), a regulatory filing showed on Wednesday.</p><p><blockquote>（路透社）-周三的一份监管文件显示，私募股权公司阿波罗全球管理公司（Apollo Global Management Inc）的一家附属公司正寻求通过美国首次公开募股（IPO）为一家空白支票公司筹集4亿美元。</blockquote></p><p> Spartan Acquisition Corp IV, a special purpose acquisition company (SPAC), said it planned to sell 40 million units, composed of shares and warrants, priced at $10 per unit on the Nasdaq Capital Market.</p><p><blockquote>特殊目的收购公司（SPAC）Spartan Acquisition Corp IV表示，计划在纳斯达克资本市场出售4000万股股票，由股票和认股权证组成，每股定价10美元。</blockquote></p><p> SPACs are shell companies that raise money with the purpose of merging with an operating company to take it public.</p><p><blockquote>SPAC是空壳公司，筹集资金的目的是与运营公司合并以使其上市。</blockquote></p><p> Once confined to obscurity in the capital markets, SPACs have surged in popularity over the past year as they allow companies to sidestep a traditional IPO and the hassles and scrutiny associated with it.</p><p><blockquote>SPAC曾经在资本市场上默默无闻，但在过去一年中变得越来越受欢迎，因为它们允许公司避开传统的IPO以及与之相关的麻烦和审查。</blockquote></p><p> In less than three months since the start of 2021, SPACs have already raised more capital through IPOs than the entire haul of 2020, which was itself a record year, according to data from SPAC Research.</p><p><blockquote>SPAC Research的数据显示，自2021年初以来不到三个月的时间里，SPAC通过IPO筹集的资金已经超过了2020年全年，而2020年本身就是创纪录的一年。</blockquote></p><p> Apollo, a global alternative asset management firm, has raised hundreds of millions of dollars through multiple blank-check companies to date, with some of its SPACs already landing deals.</p><p><blockquote>全球另类资产管理公司Apollo迄今为止已通过多家空白支票公司筹集了数亿美元，其中一些SPAC已经达成交易。</blockquote></p><p> Spartan Energy Acquisition Corp, an Apollo-backed SPAC, took electric vehicle maker Fisker Inc public last year for $2.9 billion.</p><p><blockquote>Apollo支持的SPAC Spartan Energy Acquisition Corp去年以29亿美元的价格将电动汽车制造商Fisker Inc上市。</blockquote></p><p> Goldman Sachs, Citigroup, Credit Suisse, J.P. Morgan, Barclays and RBC Capital Markets are the book-running managers for the latest offering.</p><p><blockquote>高盛、花旗集团、瑞士信贷、摩根大通、巴克莱和加拿大皇家银行资本市场是最新发行的账簿管理人。</blockquote></p><p></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>Apollo-backed SPAC looks to raise $400 million through U.S. IPO<blockquote>Apollo支持的SPAC希望通过美国IPO筹集4亿美元</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\">\nApollo-backed SPAC looks to raise $400 million through U.S. IPO<blockquote>Apollo支持的SPAC希望通过美国IPO筹集4亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">reuters</strong><span class=\"h-time small\">2021-03-25 08:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Reuters) - An affiliate of private equity firm Apollo Global Management Inc is looking to raise $400 million for a blank-check company through a U.S. initial public offering (IPO), a regulatory filing showed on Wednesday.</p><p><blockquote>（路透社）-周三的一份监管文件显示，私募股权公司阿波罗全球管理公司（Apollo Global Management Inc）的一家附属公司正寻求通过美国首次公开募股（IPO）为一家空白支票公司筹集4亿美元。</blockquote></p><p> Spartan Acquisition Corp IV, a special purpose acquisition company (SPAC), said it planned to sell 40 million units, composed of shares and warrants, priced at $10 per unit on the Nasdaq Capital Market.</p><p><blockquote>特殊目的收购公司（SPAC）Spartan Acquisition Corp IV表示，计划在纳斯达克资本市场出售4000万股股票，由股票和认股权证组成，每股定价10美元。</blockquote></p><p> SPACs are shell companies that raise money with the purpose of merging with an operating company to take it public.</p><p><blockquote>SPAC是空壳公司，筹集资金的目的是与运营公司合并以使其上市。</blockquote></p><p> Once confined to obscurity in the capital markets, SPACs have surged in popularity over the past year as they allow companies to sidestep a traditional IPO and the hassles and scrutiny associated with it.</p><p><blockquote>SPAC曾经在资本市场上默默无闻，但在过去一年中变得越来越受欢迎，因为它们允许公司避开传统的IPO以及与之相关的麻烦和审查。</blockquote></p><p> In less than three months since the start of 2021, SPACs have already raised more capital through IPOs than the entire haul of 2020, which was itself a record year, according to data from SPAC Research.</p><p><blockquote>SPAC Research的数据显示，自2021年初以来不到三个月的时间里，SPAC通过IPO筹集的资金已经超过了2020年全年，而2020年本身就是创纪录的一年。</blockquote></p><p> Apollo, a global alternative asset management firm, has raised hundreds of millions of dollars through multiple blank-check companies to date, with some of its SPACs already landing deals.</p><p><blockquote>全球另类资产管理公司Apollo迄今为止已通过多家空白支票公司筹集了数亿美元，其中一些SPAC已经达成交易。</blockquote></p><p> Spartan Energy Acquisition Corp, an Apollo-backed SPAC, took electric vehicle maker Fisker Inc public last year for $2.9 billion.</p><p><blockquote>Apollo支持的SPAC Spartan Energy Acquisition Corp去年以29亿美元的价格将电动汽车制造商Fisker Inc上市。</blockquote></p><p> Goldman Sachs, Citigroup, Credit Suisse, J.P. Morgan, Barclays and RBC Capital Markets are the book-running managers for the latest offering.</p><p><blockquote>高盛、花旗集团、瑞士信贷、摩根大通、巴克莱和加拿大皇家银行资本市场是最新发行的账簿管理人。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/us-spartan-acquisition-copr-iv-ipo/apollo-backed-spac-looks-to-raise-400-million-through-u-s-ipo-idUSKBN2BG39P\">reuters</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.reuters.com/article/us-spartan-acquisition-copr-iv-ipo/apollo-backed-spac-looks-to-raise-400-million-through-u-s-ipo-idUSKBN2BG39P","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136014645","content_text":"(Reuters) - An affiliate of private equity firm Apollo Global Management Inc is looking to raise $400 million for a blank-check company through a U.S. initial public offering (IPO), a regulatory filing showed on Wednesday.\nSpartan Acquisition Corp IV, a special purpose acquisition company (SPAC), said it planned to sell 40 million units, composed of shares and warrants, priced at $10 per unit on the Nasdaq Capital Market.\nSPACs are shell companies that raise money with the purpose of merging with an operating company to take it public.\nOnce confined to obscurity in the capital markets, SPACs have surged in popularity over the past year as they allow companies to sidestep a traditional IPO and the hassles and scrutiny associated with it.\nIn less than three months since the start of 2021, SPACs have already raised more capital through IPOs than the entire haul of 2020, which was itself a record year, according to data from SPAC Research.\nApollo, a global alternative asset management firm, has raised hundreds of millions of dollars through multiple blank-check companies to date, with some of its SPACs already landing deals.\nSpartan Energy Acquisition Corp, an Apollo-backed SPAC, took electric vehicle maker Fisker Inc public last year for $2.9 billion.\nGoldman Sachs, Citigroup, Credit Suisse, J.P. Morgan, Barclays and RBC Capital Markets are the book-running managers for the latest offering.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":260,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806964102,"gmtCreate":1627625996706,"gmtModify":1631892989131,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Your thoughts?","listText":"Your thoughts?","text":"Your thoughts?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/806964102","repostId":"1195043582","repostType":4,"repost":{"id":"1195043582","kind":"news","pubTimestamp":1627625501,"share":"https://www.laohu8.com/m/news/1195043582?lang=zh_CN&edition=full","pubTime":"2021-07-30 14:11","market":"us","language":"en","title":"Goldman Sachs draws a line in the sand on employee vaccination<blockquote>高盛对员工疫苗接种划清界限</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1195043582","media":"CNN","summary":"New York (CNN)All eyes are on Wall Street as the Covid-19 Delta variant continues to spread and Corp","content":"<p>New York (CNN)All eyes are on Wall Street as the Covid-19 Delta variant continues to spread and Corporate America starts rolling out vaccination policies.</p><p><blockquote>纽约（CNN）随着新冠肺炎德尔塔变异毒株继续蔓延，美国企业界开始推出疫苗接种政策，所有的目光都集中在华尔街。</blockquote></p><p> And although there's talk of banks requiring employees to show proof of vaccination, Goldman Sachs has drawn its line in the sand. The investment bank is barring employees from using their ID cards to enter the office building if they haven't submitted proof of their vaccination status, a spokesperson for the company told CNN Business.</p><p><blockquote>尽管有传言称银行要求员工出示疫苗接种证明，但高盛已经划清界限。该公司发言人告诉CNN Business，如果员工没有提交疫苗接种状况证明，该投资银行将禁止他们使用身份证进入办公楼。</blockquote></p><p> Goldman's plan</p><p><blockquote>高盛的计划</blockquote></p><p> Goldman Sachs employees are currently required to report their vaccine status to the company, a policy that was instituted on June 10. Failure to do so comes with specific consequences.</p><p><blockquote>高盛员工目前被要求向公司报告他们的疫苗状况，这是6月10日制定的政策。不这样做会带来特定的后果。</blockquote></p><p> \"If you do not report your vaccine status to Goldman, your ID card will not work to enter the building,\" a spokesperson for the company told CNN Business. \"The entrance of the building is contingent on you reporting your vaccine status,\" the spokesperson added.</p><p><blockquote>该公司发言人告诉CNN Business：“如果你不向高盛报告你的疫苗状况，你的身份证将无法进入大楼。”发言人补充说：“大楼的入口取决于你报告你的疫苗状况。”</blockquote></p><p> Unvaccinated employees are required to get a rapid Covid-19 test on site at the Goldman Sachs office and will be tested regularly, the spokesperson said. Employees who test positive will immediately be asked to leave the building.</p><p><blockquote>该发言人表示，未接种疫苗的员工需要在高盛办公室现场接受快速Covid-19检测，并将定期接受检测。检测呈阳性的员工将被立即要求离开大楼。</blockquote></p><p> How other banks are handling the return to work</p><p><blockquote>其他银行如何应对复工</blockquote></p><p> Morgan Stanley (MS)'s New York office is banning all unvaccinated staff and clients from entering its headquarters. All employees who work in buildings with a \"large employee presence\" were required to confirm their vaccination status by July 1, according to a memo to employees.</p><p><blockquote>摩根士丹利（MS）纽约办事处禁止所有未接种疫苗的员工和客户进入其总部。根据一份给员工的备忘录，所有在“大量员工”的建筑物中工作的员工都必须在7月1日之前确认他们的疫苗接种状态。</blockquote></p><p> At Deutsche Bank (DB), there are no restrictions on employees who are vaccinated and have shared their vaccine status with the company, a spokesperson for the bank told CNN Business. Unvaccinated employees and employees who don't share their vaccination status, however, are required to answer a set of questions about any symptoms and travel, and must wear masks and get tested several times per week at the office.</p><p><blockquote>德意志银行(DB)发言人告诉CNN Business，该银行对接种疫苗并与公司分享疫苗状态的员工没有任何限制。然而，未接种疫苗的员工和不分享其疫苗接种状况的员工需要回答一系列有关任何症状和旅行的问题，并且必须戴口罩并每周在办公室接受几次检测。</blockquote></p><p> Citibank employees who are vaccinated can submit their vaccine cards, and employees who are not vaccinated are required to test three times per week with an at-home rapid test. After taking the test, the employees upload their results to the test's app for their employer to see.</p><p><blockquote>接种疫苗的花旗银行员工可以提交疫苗卡，未接种疫苗的员工需要每周进行三次家庭快速检测。参加测试后，员工将他们的结果上传到测试的应用程序，供雇主查看。</blockquote></p><p> Bank of America (BAC) was more vague when asked for specifics on how their vaccine policy will be implemented. \"We are pulling folks back who have shared their vaccination status,\" a spokesperson for the company told CNN Business. \"We are prioritizing the vaccinated coming back,\" the spokesperson added.</p><p><blockquote>当被问及如何实施疫苗政策的具体细节时，美国银行（BAC）的态度更加模糊。该公司发言人告诉CNN Business：“我们正在撤回那些分享疫苗接种状况的人。”该发言人补充说：“我们正在优先考虑接种疫苗的人返回。”</blockquote></p><p> Wells Fargo (CBEAX) is \"collecting vaccination status from our employees to better enable our focus on health and safety in the workplace,\" a spokesperson for the company told CNN Business.</p><p><blockquote>富国银行(CBEAX)发言人告诉CNN Business，该公司正在“收集员工的疫苗接种状况，以更好地关注工作场所的健康和安全”。</blockquote></p><p> Jefferies (JEF) is only allowing vaccinated employees into the office according to a memo that the company's CEO and president sent to employees, and only after they're past the appropriate waiting period for full vaccine efficacy. \"We require that, after Labor Day, anyone who is not fully vaccinated should continue to work from home,\" the memo said.</p><p><blockquote>根据该公司首席执行官和总裁发给员工的备忘录，杰富瑞(JEF)只允许接种疫苗的员工进入办公室，并且只有在他们过了疫苗完全生效的适当等待期之后。备忘录称：“我们要求，劳动节过后，任何未完全接种疫苗的人都应继续在家工作。”</blockquote></p><p> Barclays declined to comment on its vaccine policy.</p><p><blockquote>巴克莱拒绝就其疫苗政策发表评论。</blockquote></p><p> JP Morgan Chase, UBS, HSBC did not respond to CNN's request for comment.</p><p><blockquote>摩根大通、瑞银、汇丰银行没有回应CNN的置评请求。</blockquote></p><p> Wall Street's push for the office</p><p><blockquote>华尔街对办公室的推动</blockquote></p><p> For months, Wall Street has pushed for employees to come back to the office as more Americans get vaccinated against Covid-19.</p><p><blockquote>几个月来，随着越来越多的美国人接种新冠肺炎疫苗，华尔街一直在推动员工回到办公室。</blockquote></p><p> Morgan Stanley CEO James Gorman and Bank of America CEO Brian Moynihan, for example, both made it clear that they're expecting their employees to return by Labor Day — a date that is quickly approaching yet might become a moving target as the Delta variant continues to spread.</p><p><blockquote>例如，Morgan Stanley首席执行官James Gorman和Bank of America首席执行官Brian Moynihan都明确表示，他们预计员工将在劳动节之前返回——这个日期很快就会临近，但随着德尔塔变异毒株的继续蔓延，可能会成为一个移动的目标。</blockquote></p><p> Gorman previously warned that he'll be \"very disappointed\" if workers aren't back by Labor Day. And for those who are not, \"we'll have a different kind of conversation,\" he said. As for Moynihan, he recently said, \"Our view is all the vaccinated teammates will be back\" after Labor Day.</p><p><blockquote>戈尔曼此前警告说，如果工人们在劳动节之前没有回来，他将“非常失望”。对于那些不是的人，“我们将进行不同类型的对话，”他说。至于莫伊尼汉，他最近表示，“我们的观点是所有接种疫苗的队友都会在劳动节后回来”。</blockquote></p><p> The rush to get back to the office is due, in part, to work cultural concerns, as Zoom calls and Slack messages are no substitute for in-person meetings and training. Others worries center on cybersecurity and risk management vulnerabilities inherent in businesses that conduct billions of dollars of transactions every day.</p><p><blockquote>急于回到办公室的部分原因是工作文化问题，因为Zoom评级和Slack消息无法替代面对面的会议和培训。其他人担心的是每天进行数十亿美元交易的企业固有的网络安全和风险管理漏洞。</blockquote></p><p> At its core, banking is a highly interactive business — and no one on hyper-competitive Wall Street wants to lose a deal because of a slow WiFi connection.</p><p><blockquote>银行业的核心是一项高度互动的业务，在竞争异常激烈的华尔街，没有人愿意因为WiFi连接速度慢而失去交易。</blockquote></p><p></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>Goldman Sachs draws a line in the sand on employee vaccination<blockquote>高盛对员工疫苗接种划清界限</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\">\nGoldman Sachs draws a line in the sand on employee vaccination<blockquote>高盛对员工疫苗接种划清界限</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN</strong><span class=\"h-time small\">2021-07-30 14:11</span>\n</p>\n</h4>\n</header>\n<article>\n<p>New York (CNN)All eyes are on Wall Street as the Covid-19 Delta variant continues to spread and Corporate America starts rolling out vaccination policies.</p><p><blockquote>纽约（CNN）随着新冠肺炎德尔塔变异毒株继续蔓延，美国企业界开始推出疫苗接种政策，所有的目光都集中在华尔街。</blockquote></p><p> And although there's talk of banks requiring employees to show proof of vaccination, Goldman Sachs has drawn its line in the sand. The investment bank is barring employees from using their ID cards to enter the office building if they haven't submitted proof of their vaccination status, a spokesperson for the company told CNN Business.</p><p><blockquote>尽管有传言称银行要求员工出示疫苗接种证明，但高盛已经划清界限。该公司发言人告诉CNN Business，如果员工没有提交疫苗接种状况证明，该投资银行将禁止他们使用身份证进入办公楼。</blockquote></p><p> Goldman's plan</p><p><blockquote>高盛的计划</blockquote></p><p> Goldman Sachs employees are currently required to report their vaccine status to the company, a policy that was instituted on June 10. Failure to do so comes with specific consequences.</p><p><blockquote>高盛员工目前被要求向公司报告他们的疫苗状况，这是6月10日制定的政策。不这样做会带来特定的后果。</blockquote></p><p> \"If you do not report your vaccine status to Goldman, your ID card will not work to enter the building,\" a spokesperson for the company told CNN Business. \"The entrance of the building is contingent on you reporting your vaccine status,\" the spokesperson added.</p><p><blockquote>该公司发言人告诉CNN Business：“如果你不向高盛报告你的疫苗状况，你的身份证将无法进入大楼。”发言人补充说：“大楼的入口取决于你报告你的疫苗状况。”</blockquote></p><p> Unvaccinated employees are required to get a rapid Covid-19 test on site at the Goldman Sachs office and will be tested regularly, the spokesperson said. Employees who test positive will immediately be asked to leave the building.</p><p><blockquote>该发言人表示，未接种疫苗的员工需要在高盛办公室现场接受快速Covid-19检测，并将定期接受检测。检测呈阳性的员工将被立即要求离开大楼。</blockquote></p><p> How other banks are handling the return to work</p><p><blockquote>其他银行如何应对复工</blockquote></p><p> Morgan Stanley (MS)'s New York office is banning all unvaccinated staff and clients from entering its headquarters. All employees who work in buildings with a \"large employee presence\" were required to confirm their vaccination status by July 1, according to a memo to employees.</p><p><blockquote>摩根士丹利（MS）纽约办事处禁止所有未接种疫苗的员工和客户进入其总部。根据一份给员工的备忘录，所有在“大量员工”的建筑物中工作的员工都必须在7月1日之前确认他们的疫苗接种状态。</blockquote></p><p> At Deutsche Bank (DB), there are no restrictions on employees who are vaccinated and have shared their vaccine status with the company, a spokesperson for the bank told CNN Business. Unvaccinated employees and employees who don't share their vaccination status, however, are required to answer a set of questions about any symptoms and travel, and must wear masks and get tested several times per week at the office.</p><p><blockquote>德意志银行(DB)发言人告诉CNN Business，该银行对接种疫苗并与公司分享疫苗状态的员工没有任何限制。然而，未接种疫苗的员工和不分享其疫苗接种状况的员工需要回答一系列有关任何症状和旅行的问题，并且必须戴口罩并每周在办公室接受几次检测。</blockquote></p><p> Citibank employees who are vaccinated can submit their vaccine cards, and employees who are not vaccinated are required to test three times per week with an at-home rapid test. After taking the test, the employees upload their results to the test's app for their employer to see.</p><p><blockquote>接种疫苗的花旗银行员工可以提交疫苗卡，未接种疫苗的员工需要每周进行三次家庭快速检测。参加测试后，员工将他们的结果上传到测试的应用程序，供雇主查看。</blockquote></p><p> Bank of America (BAC) was more vague when asked for specifics on how their vaccine policy will be implemented. \"We are pulling folks back who have shared their vaccination status,\" a spokesperson for the company told CNN Business. \"We are prioritizing the vaccinated coming back,\" the spokesperson added.</p><p><blockquote>当被问及如何实施疫苗政策的具体细节时，美国银行（BAC）的态度更加模糊。该公司发言人告诉CNN Business：“我们正在撤回那些分享疫苗接种状况的人。”该发言人补充说：“我们正在优先考虑接种疫苗的人返回。”</blockquote></p><p> Wells Fargo (CBEAX) is \"collecting vaccination status from our employees to better enable our focus on health and safety in the workplace,\" a spokesperson for the company told CNN Business.</p><p><blockquote>富国银行(CBEAX)发言人告诉CNN Business，该公司正在“收集员工的疫苗接种状况，以更好地关注工作场所的健康和安全”。</blockquote></p><p> Jefferies (JEF) is only allowing vaccinated employees into the office according to a memo that the company's CEO and president sent to employees, and only after they're past the appropriate waiting period for full vaccine efficacy. \"We require that, after Labor Day, anyone who is not fully vaccinated should continue to work from home,\" the memo said.</p><p><blockquote>根据该公司首席执行官和总裁发给员工的备忘录，杰富瑞(JEF)只允许接种疫苗的员工进入办公室，并且只有在他们过了疫苗完全生效的适当等待期之后。备忘录称：“我们要求，劳动节过后，任何未完全接种疫苗的人都应继续在家工作。”</blockquote></p><p> Barclays declined to comment on its vaccine policy.</p><p><blockquote>巴克莱拒绝就其疫苗政策发表评论。</blockquote></p><p> JP Morgan Chase, UBS, HSBC did not respond to CNN's request for comment.</p><p><blockquote>摩根大通、瑞银、汇丰银行没有回应CNN的置评请求。</blockquote></p><p> Wall Street's push for the office</p><p><blockquote>华尔街对办公室的推动</blockquote></p><p> For months, Wall Street has pushed for employees to come back to the office as more Americans get vaccinated against Covid-19.</p><p><blockquote>几个月来，随着越来越多的美国人接种新冠肺炎疫苗，华尔街一直在推动员工回到办公室。</blockquote></p><p> Morgan Stanley CEO James Gorman and Bank of America CEO Brian Moynihan, for example, both made it clear that they're expecting their employees to return by Labor Day — a date that is quickly approaching yet might become a moving target as the Delta variant continues to spread.</p><p><blockquote>例如，Morgan Stanley首席执行官James Gorman和Bank of America首席执行官Brian Moynihan都明确表示，他们预计员工将在劳动节之前返回——这个日期很快就会临近，但随着德尔塔变异毒株的继续蔓延，可能会成为一个移动的目标。</blockquote></p><p> Gorman previously warned that he'll be \"very disappointed\" if workers aren't back by Labor Day. And for those who are not, \"we'll have a different kind of conversation,\" he said. As for Moynihan, he recently said, \"Our view is all the vaccinated teammates will be back\" after Labor Day.</p><p><blockquote>戈尔曼此前警告说，如果工人们在劳动节之前没有回来，他将“非常失望”。对于那些不是的人，“我们将进行不同类型的对话，”他说。至于莫伊尼汉，他最近表示，“我们的观点是所有接种疫苗的队友都会在劳动节后回来”。</blockquote></p><p> The rush to get back to the office is due, in part, to work cultural concerns, as Zoom calls and Slack messages are no substitute for in-person meetings and training. Others worries center on cybersecurity and risk management vulnerabilities inherent in businesses that conduct billions of dollars of transactions every day.</p><p><blockquote>急于回到办公室的部分原因是工作文化问题，因为Zoom评级和Slack消息无法替代面对面的会议和培训。其他人担心的是每天进行数十亿美元交易的企业固有的网络安全和风险管理漏洞。</blockquote></p><p> At its core, banking is a highly interactive business — and no one on hyper-competitive Wall Street wants to lose a deal because of a slow WiFi connection.</p><p><blockquote>银行业的核心是一项高度互动的业务，在竞争异常激烈的华尔街，没有人愿意因为WiFi连接速度慢而失去交易。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/07/29/business/goldman-sachs-vaccine-building/index.html\">CNN</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GS":"高盛"},"source_url":"https://edition.cnn.com/2021/07/29/business/goldman-sachs-vaccine-building/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195043582","content_text":"New York (CNN)All eyes are on Wall Street as the Covid-19 Delta variant continues to spread and Corporate America starts rolling out vaccination policies.\nAnd although there's talk of banks requiring employees to show proof of vaccination, Goldman Sachs has drawn its line in the sand. The investment bank is barring employees from using their ID cards to enter the office building if they haven't submitted proof of their vaccination status, a spokesperson for the company told CNN Business.\nGoldman's plan\nGoldman Sachs employees are currently required to report their vaccine status to the company, a policy that was instituted on June 10. Failure to do so comes with specific consequences.\n\"If you do not report your vaccine status to Goldman, your ID card will not work to enter the building,\" a spokesperson for the company told CNN Business. \"The entrance of the building is contingent on you reporting your vaccine status,\" the spokesperson added.\nUnvaccinated employees are required to get a rapid Covid-19 test on site at the Goldman Sachs office and will be tested regularly, the spokesperson said. Employees who test positive will immediately be asked to leave the building.\nHow other banks are handling the return to work\nMorgan Stanley (MS)'s New York office is banning all unvaccinated staff and clients from entering its headquarters. All employees who work in buildings with a \"large employee presence\" were required to confirm their vaccination status by July 1, according to a memo to employees.\nAt Deutsche Bank (DB), there are no restrictions on employees who are vaccinated and have shared their vaccine status with the company, a spokesperson for the bank told CNN Business. Unvaccinated employees and employees who don't share their vaccination status, however, are required to answer a set of questions about any symptoms and travel, and must wear masks and get tested several times per week at the office.\nCitibank employees who are vaccinated can submit their vaccine cards, and employees who are not vaccinated are required to test three times per week with an at-home rapid test. After taking the test, the employees upload their results to the test's app for their employer to see.\nBank of America (BAC) was more vague when asked for specifics on how their vaccine policy will be implemented. \"We are pulling folks back who have shared their vaccination status,\" a spokesperson for the company told CNN Business. \"We are prioritizing the vaccinated coming back,\" the spokesperson added.\nWells Fargo (CBEAX) is \"collecting vaccination status from our employees to better enable our focus on health and safety in the workplace,\" a spokesperson for the company told CNN Business.\nJefferies (JEF) is only allowing vaccinated employees into the office according to a memo that the company's CEO and president sent to employees, and only after they're past the appropriate waiting period for full vaccine efficacy. \"We require that, after Labor Day, anyone who is not fully vaccinated should continue to work from home,\" the memo said.\nBarclays declined to comment on its vaccine policy.\nJP Morgan Chase, UBS, HSBC did not respond to CNN's request for comment.\nWall Street's push for the office\nFor months, Wall Street has pushed for employees to come back to the office as more Americans get vaccinated against Covid-19.\nMorgan Stanley CEO James Gorman and Bank of America CEO Brian Moynihan, for example, both made it clear that they're expecting their employees to return by Labor Day — a date that is quickly approaching yet might become a moving target as the Delta variant continues to spread.\nGorman previously warned that he'll be \"very disappointed\" if workers aren't back by Labor Day. And for those who are not, \"we'll have a different kind of conversation,\" he said. As for Moynihan, he recently said, \"Our view is all the vaccinated teammates will be back\" after Labor Day.\nThe rush to get back to the office is due, in part, to work cultural concerns, as Zoom calls and Slack messages are no substitute for in-person meetings and training. Others worries center on cybersecurity and risk management vulnerabilities inherent in businesses that conduct billions of dollars of transactions every day.\nAt its core, banking is a highly interactive business — and no one on hyper-competitive Wall Street wants to lose a deal because of a slow WiFi connection.","news_type":1,"symbols_score_info":{"GS":0.9}},"isVote":1,"tweetType":1,"viewCount":560,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110135143,"gmtCreate":1622429466982,"gmtModify":1634101541196,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Oh time to sell!","listText":"Oh time to sell!","text":"Oh time to sell!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/110135143","repostId":"2139438981","repostType":4,"isVote":1,"tweetType":1,"viewCount":282,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":101765215,"gmtCreate":1619945234437,"gmtModify":1634208930647,"author":{"id":"3575238340277690","authorId":"3575238340277690","name":"Unicorn82","avatar":"https://static.tigerbbs.com/bdb8d97fb98bd68d1bf5ab48f6170acb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575238340277690","idStr":"3575238340277690"},"themes":[],"htmlText":"Good Luck To All who holds the stock!","listText":"Good Luck To All who holds the stock!","text":"Good Luck To All who holds the stock!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/101765215","repostId":"1103106179","repostType":4,"isVote":1,"tweetType":1,"viewCount":632,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}