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RoaringDoggo
RoaringDoggo
·
2021-09-25
Rip
China Declares Cryptocurrency-Related Activities Illegal<blockquote>中国宣布加密货币相关活动非法</blockquote>
BEIJING, September 23 (TMTPOST) — The People's Bank of China, the country’s central bank, has releas
China Declares Cryptocurrency-Related Activities Illegal<blockquote>中国宣布加密货币相关活动非法</blockquote>
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RoaringDoggo
RoaringDoggo
·
2021-06-16
Noice
Why Goldman Sachs Changed Its Mind On Apple Stock<blockquote>高盛为何改变对苹果股票的看法</blockquote>
After being on the spotlight for latching on to his pessimism over Apple stock, even following stron
Why Goldman Sachs Changed Its Mind On Apple Stock<blockquote>高盛为何改变对苹果股票的看法</blockquote>
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RoaringDoggo
RoaringDoggo
·
2021-04-28
To the moon! 🚀
Apple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.<blockquote>苹果可能会再次夸大盈利。这对股票意味着什么。</blockquote>
Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech g
Apple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.<blockquote>苹果可能会再次夸大盈利。这对股票意味着什么。</blockquote>
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RoaringDoggo
RoaringDoggo
·
2021-04-21
AAPL pls print
非常抱歉,此主贴已删除
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Cryptocurrencies are decentralized digital money based on blockchain technology. They are not issued by the authority and therefore do not enjoy the legal recognition that fiat money has. Cryptocurrencies should not be used as money in the market and enter circulation. Financial activities that involve cryptocurrencies are all illegal activities, the central bank stated in the notice. Financial services that facilitate the exchange between cryptocurrency and fiat money, exchange of information on cryptocurrency trading, pricing of cryptocurrency, trading of cryptocurrency derivatives, and financing through cryptocurrency are forbidden and considered illegal. Criminal liabilities can be imposed if relevant violations constitute a criminal offense.</p><p><blockquote>根据通知,加密货币不享有法定货币的法律地位。加密货币是基于区块链技术的去中心化数字货币。它们不是由当局发行的,因此不享有法定货币的法律承认。加密货币不应作为货币在市场上使用并进入流通。央行在通知中表示,涉及加密货币的金融活动都是非法活动。促进加密货币和法定货币之间交换、加密货币交易信息交换、加密货币定价、加密货币衍生品交易以及通过加密货币融资的金融服务是被禁止的,并被视为非法。如果相关违法行为构成刑事犯罪,可以追究刑事责任。</blockquote></p><p> The notice also states that it is also considered an illegal financial activity for overseas cryptocurrency exchange organizations to provide exchange services through the Internet for residents within China. Employees of such overseas exchange organizations who knowingly engage in cryptocurrency services and provide services on the marketing of cryptocurrency, payment, and technical support are punishable by law.</p><p><blockquote>通知还称,境外加密货币兑换机构通过互联网为中国境内居民提供兑换服务,也被视为非法金融活动。此类境外交易所机构的员工明知从事加密货币服务,并提供加密货币营销、支付和技术支持等服务,将受到法律制裁。</blockquote></p><p> The notice calls for more efforts in establishing a working mechanism in response to cryptocurrency trading as well. The notice states that it is important to establish coordination between government departments, and between the central government and local governments to monitor cryptocurrency activities.</p><p><blockquote>通知评级在建立应对加密货币交易的工作机制方面做出更多努力。通知指出,重要的是在政府部门之间以及中央政府和地方政府之间建立协调,以监控加密货币活动。</blockquote></p><p> In addition, a risk forecast on cryptocurrency trading should be built, according to the notice. The central bank and the Cyberspace Administration of China should optimize their monitoring technology that targets cryptocurrency activities. Financial institutions and non-bank payment organizations should also enhance their efforts in monitoring cryptocurrency activities.</p><p><blockquote>此外,根据通知,应建立加密货币交易的风险预测。中国央行和网信办应优化针对加密货币活动的监控技术。金融机构和非银行支付组织也应加大对加密货币活动的监控力度。</blockquote></p><p> Lastly, the notice calls for the development of a multi-level mechanism to prevent cryptocurrency trading and enforce relevant laws and regulations. The multi-level mechanism should involve financial management departments, telecom departments, law enforcement, and market regulators, etc.</p><p><blockquote>最后,评级关于制定多层次机制以防止加密货币交易并执行相关法律法规的通知。多层次的机制应该包括金融管理部门、电信部门、执法部门、市场监管机构等。</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>China Declares Cryptocurrency-Related Activities Illegal<blockquote>中国宣布加密货币相关活动非法</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\">\nChina Declares Cryptocurrency-Related Activities Illegal<blockquote>中国宣布加密货币相关活动非法</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1065587721\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/72948639b39fd795a430fcaa2772851c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">TMTPost </p>\n<p class=\"h-time smaller\">2021-09-25 07:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>BEIJING, September 23 (TMTPOST) — The People's Bank of China, the country’s central bank, has released the Notice on Further Regulating and Preventing Risks Posed by Cryptocurrency Transactions, which stresses that cryptocurrency-related activities are illegal financial activities.</p><p><blockquote>钛媒体北京9月23日电(钛媒体)中国人民银行发布了《关于进一步规范和防范加密货币交易风险的通知》,强调加密货币相关活动属于非法金融活动。</blockquote></p><p> According to the notice, cryptocurrency does not enjoy the legal status that fiat money has. Cryptocurrencies are decentralized digital money based on blockchain technology. They are not issued by the authority and therefore do not enjoy the legal recognition that fiat money has. Cryptocurrencies should not be used as money in the market and enter circulation. Financial activities that involve cryptocurrencies are all illegal activities, the central bank stated in the notice. Financial services that facilitate the exchange between cryptocurrency and fiat money, exchange of information on cryptocurrency trading, pricing of cryptocurrency, trading of cryptocurrency derivatives, and financing through cryptocurrency are forbidden and considered illegal. Criminal liabilities can be imposed if relevant violations constitute a criminal offense.</p><p><blockquote>根据通知,加密货币不享有法定货币的法律地位。加密货币是基于区块链技术的去中心化数字货币。它们不是由当局发行的,因此不享有法定货币的法律承认。加密货币不应作为货币在市场上使用并进入流通。央行在通知中表示,涉及加密货币的金融活动都是非法活动。促进加密货币和法定货币之间交换、加密货币交易信息交换、加密货币定价、加密货币衍生品交易以及通过加密货币融资的金融服务是被禁止的,并被视为非法。如果相关违法行为构成刑事犯罪,可以追究刑事责任。</blockquote></p><p> The notice also states that it is also considered an illegal financial activity for overseas cryptocurrency exchange organizations to provide exchange services through the Internet for residents within China. Employees of such overseas exchange organizations who knowingly engage in cryptocurrency services and provide services on the marketing of cryptocurrency, payment, and technical support are punishable by law.</p><p><blockquote>通知还称,境外加密货币兑换机构通过互联网为中国境内居民提供兑换服务,也被视为非法金融活动。此类境外交易所机构的员工明知从事加密货币服务,并提供加密货币营销、支付和技术支持等服务,将受到法律制裁。</blockquote></p><p> The notice calls for more efforts in establishing a working mechanism in response to cryptocurrency trading as well. The notice states that it is important to establish coordination between government departments, and between the central government and local governments to monitor cryptocurrency activities.</p><p><blockquote>通知评级在建立应对加密货币交易的工作机制方面做出更多努力。通知指出,重要的是在政府部门之间以及中央政府和地方政府之间建立协调,以监控加密货币活动。</blockquote></p><p> In addition, a risk forecast on cryptocurrency trading should be built, according to the notice. The central bank and the Cyberspace Administration of China should optimize their monitoring technology that targets cryptocurrency activities. Financial institutions and non-bank payment organizations should also enhance their efforts in monitoring cryptocurrency activities.</p><p><blockquote>此外,根据通知,应建立加密货币交易的风险预测。中国央行和网信办应优化针对加密货币活动的监控技术。金融机构和非银行支付组织也应加大对加密货币活动的监控力度。</blockquote></p><p> Lastly, the notice calls for the development of a multi-level mechanism to prevent cryptocurrency trading and enforce relevant laws and regulations. The multi-level mechanism should involve financial management departments, telecom departments, law enforcement, and market regulators, etc.</p><p><blockquote>最后,评级关于制定多层次机制以防止加密货币交易并执行相关法律法规的通知。多层次的机制应该包括金融管理部门、电信部门、执法部门、市场监管机构等。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAAS":"中汽系统"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2170611891","content_text":"BEIJING, September 23 (TMTPOST) — The People's Bank of China, the country’s central bank, has released the Notice on Further Regulating and Preventing Risks Posed by Cryptocurrency Transactions, which stresses that cryptocurrency-related activities are illegal financial activities.\nAccording to the notice, cryptocurrency does not enjoy the legal status that fiat money has. Cryptocurrencies are decentralized digital money based on blockchain technology. They are not issued by the authority and therefore do not enjoy the legal recognition that fiat money has. Cryptocurrencies should not be used as money in the market and enter circulation. Financial activities that involve cryptocurrencies are all illegal activities, the central bank stated in the notice. Financial services that facilitate the exchange between cryptocurrency and fiat money, exchange of information on cryptocurrency trading, pricing of cryptocurrency, trading of cryptocurrency derivatives, and financing through cryptocurrency are forbidden and considered illegal. Criminal liabilities can be imposed if relevant violations constitute a criminal offense.\nThe notice also states that it is also considered an illegal financial activity for overseas cryptocurrency exchange organizations to provide exchange services through the Internet for residents within China. Employees of such overseas exchange organizations who knowingly engage in cryptocurrency services and provide services on the marketing of cryptocurrency, payment, and technical support are punishable by law.\nThe notice calls for more efforts in establishing a working mechanism in response to cryptocurrency trading as well. The notice states that it is important to establish coordination between government departments, and between the central government and local governments to monitor cryptocurrency activities.\nIn addition, a risk forecast on cryptocurrency trading should be built, according to the notice. The central bank and the Cyberspace Administration of China should optimize their monitoring technology that targets cryptocurrency activities. Financial institutions and non-bank payment organizations should also enhance their efforts in monitoring cryptocurrency activities.\nLastly, the notice calls for the development of a multi-level mechanism to prevent cryptocurrency trading and enforce relevant laws and regulations. The multi-level mechanism should involve financial management departments, telecom departments, law enforcement, and market regulators, etc.","news_type":1,"symbols_score_info":{"CAAS":0.9}},"isVote":1,"tweetType":1,"viewCount":1190,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":169059817,"gmtCreate":1623809934939,"gmtModify":1634027770968,"author":{"id":"3569202984055620","authorId":"3569202984055620","name":"RoaringDoggo","avatar":"https://static.tigerbbs.com/928555cc01c0081376fe67f38b3a9706","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569202984055620","idStr":"3569202984055620"},"themes":[],"title":"","htmlText":"Noice","listText":"Noice","text":"Noice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169059817","repostId":"1109582645","repostType":4,"repost":{"id":"1109582645","kind":"news","pubTimestamp":1623808952,"share":"https://www.laohunote.com/m/news/1109582645?lang=zh_CN&edition=full","pubTime":"2021-06-16 10:02","market":"us","language":"en","title":"Why Goldman Sachs Changed Its Mind On Apple Stock<blockquote>高盛为何改变对苹果股票的看法</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109582645","media":"TheStreet","summary":"After being on the spotlight for latching on to his pessimism over Apple stock, even following stron","content":"<p>After being on the spotlight for latching on to his pessimism over Apple stock, even following strong quarterly results, famed bear Rod Hall at Goldman Sachs threw in the towel and changed his position on AAPLfrom sell to neutral. Last week, he gave an interview to CNBC and further elaborated on his decision.</p><p><blockquote>即使在强劲的季度业绩之后,高盛著名的熊市罗德·霍尔 (bear Rod Hall) 仍因坚持对苹果股票的悲观情绪而成为人们关注的焦点,但他认输了,并将他对 AAPL 的立场从卖出改为中性。上周,他接受了 CNBC 的采访,并进一步阐述了他的决定。</blockquote></p><p> The Apple Maven takes a closer look at this bear’s journey from highly skeptical to timidly optimistic about Apple shares.</p><p><blockquote>这位苹果专家仔细研究了这位熊市对苹果股票从高度怀疑到胆怯乐观的历程。</blockquote></p><p> <b>iPhone at the center of the bear case</b></p><p><blockquote><b>熊壳中心的iPhone</b></blockquote></p><p> At the core of Goldman Sachs’ sell rating on Apple stock was the Cupertino company's challenges at meeting iPhone sales growth metrics going forward. Rod Hall explained it:</p><p><blockquote>高盛给予苹果股票卖出评级的核心是这家库比蒂诺公司在未来实现 iPhone 销售增长指标方面面临的挑战。罗德·霍尔解释道:</blockquote></p><p> “Apple continues to show strong execution, but we see fundamentals more likely to disappoint in 2021 as the long-anticipated 5G iPhone fails to meet optimistic consensus expectations and services revenue growth slows.” To be fair, Apple’s most recent financial results had been far from exhilarating ahead of Goldman’s stock rating upgrade. The Cupertino company's main revenue generator, the iPhone, had produced timid results in 2020, making some wonder if smartphone sales would disappoint at the start of the 5G cycle.</p><p><blockquote>“苹果继续表现出强劲的执行力,但我们认为,由于期待已久的 5G iPhone 未能达到乐观的共识预期,服务收入增长放缓,2021 年的基本面更有可能令人失望。”平心而论,在高盛上调股票评级之前,苹果最近的财务业绩远非令人鼓舞。这家库比蒂诺公司的主要收入来源iPhone在2020年的业绩表现不佳,这让一些人怀疑智能手机销售是否会在5G周期开始时令人失望。</blockquote></p><p> The plateauing in smartphone sales preceded the pandemic year. Based on data from third party-research companies Gartner and Strategy Analytics, 187 million iPhones were sold in 2019, fewer than the 217 million of 2018. And from 2019 to 2020, there was an unprecedented decrease in iPhone revenues: from $142 billion to $138 billion last year.</p><p><blockquote>智能手机销量在疫情年之前就已趋于稳定。根据第三方研究公司Gartner和Strategy Analytics的数据,2019年iPhone的销量为1.87亿部,低于2018年的2.17亿部。而从2019年到2020年,iPhone的收入出现了前所未有的下降:从去年的1420亿美元降至1380亿美元。</blockquote></p><p> Therefore, and based on recent trends, Rod Hall’s bearishness towards the iPhone seemed reasonably justifiable. What had been missing to tip Apple stock over, in the analyst’s view, was a negative catalyst. He believed that the COVID-19 pandemic could be it.</p><p><blockquote>因此,从最近的趋势来看,罗德-霍尔对 iPhone 的看跌似乎是有道理的。在这位分析师看来,苹果股市上涨所缺少的是一个负面催化剂。他认为新冠肺炎疫情可能就是它。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/89631d8083d43e0daee7828d45e7a67a\" tg-width=\"627\" tg-height=\"453\"><span>Figure 1: iPhone quarterly revenue ($bn).</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1:iPhone季度收入(十亿美元)。</span></p></blockquote></p><p> <b>When Goldman Sachs fell off the horse</b></p><p><blockquote><b>当高盛从马背上摔下来</b></blockquote></p><p> Goldman’s rating change on AAPL came in April, after the Cupertino company crushed expectations and released a blowout earnings report. Fiscal second quarter 2021 marked a turning point in iPhone 12 sales, after Apple faced delays in the launch of the new device.</p><p><blockquote>高盛在 4 月份改变了对 AAPL 的评级,此前这家库比蒂诺公司超出了预期,发布了一份井喷的财报。在苹果面临新设备推出延迟后,2021 财年第二财季标志着 iPhone 12 销售的转折点。</blockquote></p><p> Apple reported iPhone revenues of $47.9 billion versus Wall Street’s consensus $41.5 billion. Year-over-year, the top-line increase was a staggering $19 billion, representing growth of 65%.</p><p><blockquote>苹果公布的 iPhone 营收为 479 亿美元,而华尔街普遍预期为 415 亿美元。与去年同期相比,营收增长了惊人的 190 亿美元,增长了 65%。</blockquote></p><p> These numbers probably caught Goldman’s Rod Hall flat-footed.</p><p><blockquote>这些数字可能让高盛的罗德-霍尔措手不及。</blockquote></p><p> <b>How Goldman Sachs sees Apple going forward</b></p><p><blockquote><b>高盛如何看待苹果的未来</b></blockquote></p><p> According to Goldman, the neutral position on AAPL is justified by one key metric: revenues per user. The analyst believes that growth in this metric should be in line with U.S. GDP. He points out that Apple's revenues per user have remained static in recent years, only rising during the pandemic due to stay-at-home trends.</p><p><blockquote>高盛表示,对 AAPL 的中立立场有一个关键指标是合理的:每用户收入。该分析师认为,这一指标的增长应该与美国GDP保持一致。他指出,苹果的每用户收入近年来一直保持不变,只是在疫情期间由于居家趋势而有所上升。</blockquote></p><p> On the bullish side of the argument, Rod Hall sees the importance of privacy, and thinks that Apple could benefit from increased demand for being an advocate of user data protection. On the bearish side, the analyst remains skeptical that the services segment will grow as much as expected, and that only about 20% to 25% of active users will pay for Apple services.</p><p><blockquote>从乐观的角度来看,Rod Hall看到了隐私的重要性,并认为苹果可以从成为用户数据保护倡导者的日益增长的需求中受益。从悲观的角度来看,分析师仍然怀疑服务领域能否像预期那样增长,并且只有大约 20% 至 25% 的活跃用户会为苹果服务付费。</blockquote></p><p> <b>The Apple Maven's take</b></p><p><blockquote><b>苹果专家的看法</b></blockquote></p><p> Rod Hall has not been the first and will not be the last on Wall Street to be proven wrong on a stock rating. Goldman Sachs' position was contrarian, and bold for the same reason. Yet, the Apple Maven believes that Rod Hall’s cautious stance could still be a bit too conservative.</p><p><blockquote>罗德·霍尔并不是华尔街第一个也不会是最后一个在股票评级上被证明是错误的人。出于同样的原因,高盛的立场是逆向的,而且大胆。然而,这位苹果专家认为,罗德-霍尔的谨慎立场可能仍然有点过于保守。</blockquote></p><p> While stay-at-home trends may have distorted fiscal 2020 and early 2021 results, the 5G cycle, the M1 architecture, the expansion of the services portfolio and resilient consumer spending in general may still help to boost Apple's revenue-per-user metric – Goldman’s key concern.</p><p><blockquote>虽然居家办公的趋势可能会扭曲 2020 财年和 2021 年初的业绩,但 5G 周期、M1 架构、服务组合的扩张以及总体有弹性的消费者支出仍可能有助于提升苹果的每用户收入指标--高盛的主要关注点。</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>Why Goldman Sachs Changed Its Mind On Apple Stock<blockquote>高盛为何改变对苹果股票的看法</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\">\nWhy Goldman Sachs Changed Its Mind On Apple Stock<blockquote>高盛为何改变对苹果股票的看法</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-06-16 10:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>After being on the spotlight for latching on to his pessimism over Apple stock, even following strong quarterly results, famed bear Rod Hall at Goldman Sachs threw in the towel and changed his position on AAPLfrom sell to neutral. Last week, he gave an interview to CNBC and further elaborated on his decision.</p><p><blockquote>即使在强劲的季度业绩之后,高盛著名的熊市罗德·霍尔 (bear Rod Hall) 仍因坚持对苹果股票的悲观情绪而成为人们关注的焦点,但他认输了,并将他对 AAPL 的立场从卖出改为中性。上周,他接受了 CNBC 的采访,并进一步阐述了他的决定。</blockquote></p><p> The Apple Maven takes a closer look at this bear’s journey from highly skeptical to timidly optimistic about Apple shares.</p><p><blockquote>这位苹果专家仔细研究了这位熊市对苹果股票从高度怀疑到胆怯乐观的历程。</blockquote></p><p> <b>iPhone at the center of the bear case</b></p><p><blockquote><b>熊壳中心的iPhone</b></blockquote></p><p> At the core of Goldman Sachs’ sell rating on Apple stock was the Cupertino company's challenges at meeting iPhone sales growth metrics going forward. Rod Hall explained it:</p><p><blockquote>高盛给予苹果股票卖出评级的核心是这家库比蒂诺公司在未来实现 iPhone 销售增长指标方面面临的挑战。罗德·霍尔解释道:</blockquote></p><p> “Apple continues to show strong execution, but we see fundamentals more likely to disappoint in 2021 as the long-anticipated 5G iPhone fails to meet optimistic consensus expectations and services revenue growth slows.” To be fair, Apple’s most recent financial results had been far from exhilarating ahead of Goldman’s stock rating upgrade. The Cupertino company's main revenue generator, the iPhone, had produced timid results in 2020, making some wonder if smartphone sales would disappoint at the start of the 5G cycle.</p><p><blockquote>“苹果继续表现出强劲的执行力,但我们认为,由于期待已久的 5G iPhone 未能达到乐观的共识预期,服务收入增长放缓,2021 年的基本面更有可能令人失望。”平心而论,在高盛上调股票评级之前,苹果最近的财务业绩远非令人鼓舞。这家库比蒂诺公司的主要收入来源iPhone在2020年的业绩表现不佳,这让一些人怀疑智能手机销售是否会在5G周期开始时令人失望。</blockquote></p><p> The plateauing in smartphone sales preceded the pandemic year. Based on data from third party-research companies Gartner and Strategy Analytics, 187 million iPhones were sold in 2019, fewer than the 217 million of 2018. And from 2019 to 2020, there was an unprecedented decrease in iPhone revenues: from $142 billion to $138 billion last year.</p><p><blockquote>智能手机销量在疫情年之前就已趋于稳定。根据第三方研究公司Gartner和Strategy Analytics的数据,2019年iPhone的销量为1.87亿部,低于2018年的2.17亿部。而从2019年到2020年,iPhone的收入出现了前所未有的下降:从去年的1420亿美元降至1380亿美元。</blockquote></p><p> Therefore, and based on recent trends, Rod Hall’s bearishness towards the iPhone seemed reasonably justifiable. What had been missing to tip Apple stock over, in the analyst’s view, was a negative catalyst. He believed that the COVID-19 pandemic could be it.</p><p><blockquote>因此,从最近的趋势来看,罗德-霍尔对 iPhone 的看跌似乎是有道理的。在这位分析师看来,苹果股市上涨所缺少的是一个负面催化剂。他认为新冠肺炎疫情可能就是它。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/89631d8083d43e0daee7828d45e7a67a\" tg-width=\"627\" tg-height=\"453\"><span>Figure 1: iPhone quarterly revenue ($bn).</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1:iPhone季度收入(十亿美元)。</span></p></blockquote></p><p> <b>When Goldman Sachs fell off the horse</b></p><p><blockquote><b>当高盛从马背上摔下来</b></blockquote></p><p> Goldman’s rating change on AAPL came in April, after the Cupertino company crushed expectations and released a blowout earnings report. Fiscal second quarter 2021 marked a turning point in iPhone 12 sales, after Apple faced delays in the launch of the new device.</p><p><blockquote>高盛在 4 月份改变了对 AAPL 的评级,此前这家库比蒂诺公司超出了预期,发布了一份井喷的财报。在苹果面临新设备推出延迟后,2021 财年第二财季标志着 iPhone 12 销售的转折点。</blockquote></p><p> Apple reported iPhone revenues of $47.9 billion versus Wall Street’s consensus $41.5 billion. Year-over-year, the top-line increase was a staggering $19 billion, representing growth of 65%.</p><p><blockquote>苹果公布的 iPhone 营收为 479 亿美元,而华尔街普遍预期为 415 亿美元。与去年同期相比,营收增长了惊人的 190 亿美元,增长了 65%。</blockquote></p><p> These numbers probably caught Goldman’s Rod Hall flat-footed.</p><p><blockquote>这些数字可能让高盛的罗德-霍尔措手不及。</blockquote></p><p> <b>How Goldman Sachs sees Apple going forward</b></p><p><blockquote><b>高盛如何看待苹果的未来</b></blockquote></p><p> According to Goldman, the neutral position on AAPL is justified by one key metric: revenues per user. The analyst believes that growth in this metric should be in line with U.S. GDP. He points out that Apple's revenues per user have remained static in recent years, only rising during the pandemic due to stay-at-home trends.</p><p><blockquote>高盛表示,对 AAPL 的中立立场有一个关键指标是合理的:每用户收入。该分析师认为,这一指标的增长应该与美国GDP保持一致。他指出,苹果的每用户收入近年来一直保持不变,只是在疫情期间由于居家趋势而有所上升。</blockquote></p><p> On the bullish side of the argument, Rod Hall sees the importance of privacy, and thinks that Apple could benefit from increased demand for being an advocate of user data protection. On the bearish side, the analyst remains skeptical that the services segment will grow as much as expected, and that only about 20% to 25% of active users will pay for Apple services.</p><p><blockquote>从乐观的角度来看,Rod Hall看到了隐私的重要性,并认为苹果可以从成为用户数据保护倡导者的日益增长的需求中受益。从悲观的角度来看,分析师仍然怀疑服务领域能否像预期那样增长,并且只有大约 20% 至 25% 的活跃用户会为苹果服务付费。</blockquote></p><p> <b>The Apple Maven's take</b></p><p><blockquote><b>苹果专家的看法</b></blockquote></p><p> Rod Hall has not been the first and will not be the last on Wall Street to be proven wrong on a stock rating. Goldman Sachs' position was contrarian, and bold for the same reason. Yet, the Apple Maven believes that Rod Hall’s cautious stance could still be a bit too conservative.</p><p><blockquote>罗德·霍尔并不是华尔街第一个也不会是最后一个在股票评级上被证明是错误的人。出于同样的原因,高盛的立场是逆向的,而且大胆。然而,这位苹果专家认为,罗德-霍尔的谨慎立场可能仍然有点过于保守。</blockquote></p><p> While stay-at-home trends may have distorted fiscal 2020 and early 2021 results, the 5G cycle, the M1 architecture, the expansion of the services portfolio and resilient consumer spending in general may still help to boost Apple's revenue-per-user metric – Goldman’s key concern.</p><p><blockquote>虽然居家办公的趋势可能会扭曲 2020 财年和 2021 年初的业绩,但 5G 周期、M1 架构、服务组合的扩张以及总体有弹性的消费者支出仍可能有助于提升苹果的每用户收入指标--高盛的主要关注点。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.thestreet.com/apple/news/why-goldman-sachs-changed-its-mind-on-apple-stock\">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/news/why-goldman-sachs-changed-its-mind-on-apple-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109582645","content_text":"After being on the spotlight for latching on to his pessimism over Apple stock, even following strong quarterly results, famed bear Rod Hall at Goldman Sachs threw in the towel and changed his position on AAPLfrom sell to neutral. Last week, he gave an interview to CNBC and further elaborated on his decision.\nThe Apple Maven takes a closer look at this bear’s journey from highly skeptical to timidly optimistic about Apple shares.\niPhone at the center of the bear case\nAt the core of Goldman Sachs’ sell rating on Apple stock was the Cupertino company's challenges at meeting iPhone sales growth metrics going forward. Rod Hall explained it:\n\n “Apple continues to show strong execution, but we see fundamentals more likely to disappoint in 2021 as the long-anticipated 5G iPhone fails to meet optimistic consensus expectations and services revenue growth slows.”\n\nTo be fair, Apple’s most recent financial results had been far from exhilarating ahead of Goldman’s stock rating upgrade. The Cupertino company's main revenue generator, the iPhone, had produced timid results in 2020, making some wonder if smartphone sales would disappoint at the start of the 5G cycle.\nThe plateauing in smartphone sales preceded the pandemic year. Based on data from third party-research companies Gartner and Strategy Analytics, 187 million iPhones were sold in 2019, fewer than the 217 million of 2018. And from 2019 to 2020, there was an unprecedented decrease in iPhone revenues: from $142 billion to $138 billion last year.\nTherefore, and based on recent trends, Rod Hall’s bearishness towards the iPhone seemed reasonably justifiable. What had been missing to tip Apple stock over, in the analyst’s view, was a negative catalyst. He believed that the COVID-19 pandemic could be it.\nFigure 1: iPhone quarterly revenue ($bn).\nWhen Goldman Sachs fell off the horse\nGoldman’s rating change on AAPL came in April, after the Cupertino company crushed expectations and released a blowout earnings report. Fiscal second quarter 2021 marked a turning point in iPhone 12 sales, after Apple faced delays in the launch of the new device.\nApple reported iPhone revenues of $47.9 billion versus Wall Street’s consensus $41.5 billion. Year-over-year, the top-line increase was a staggering $19 billion, representing growth of 65%.\nThese numbers probably caught Goldman’s Rod Hall flat-footed.\nHow Goldman Sachs sees Apple going forward\nAccording to Goldman, the neutral position on AAPL is justified by one key metric: revenues per user. The analyst believes that growth in this metric should be in line with U.S. GDP. He points out that Apple's revenues per user have remained static in recent years, only rising during the pandemic due to stay-at-home trends.\nOn the bullish side of the argument, Rod Hall sees the importance of privacy, and thinks that Apple could benefit from increased demand for being an advocate of user data protection. On the bearish side, the analyst remains skeptical that the services segment will grow as much as expected, and that only about 20% to 25% of active users will pay for Apple services.\nThe Apple Maven's take\nRod Hall has not been the first and will not be the last on Wall Street to be proven wrong on a stock rating. Goldman Sachs' position was contrarian, and bold for the same reason. Yet, the Apple Maven believes that Rod Hall’s cautious stance could still be a bit too conservative.\nWhile stay-at-home trends may have distorted fiscal 2020 and early 2021 results, the 5G cycle, the M1 architecture, the expansion of the services portfolio and resilient consumer spending in general may still help to boost Apple's revenue-per-user metric – Goldman’s key concern.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100165175,"gmtCreate":1619590679697,"gmtModify":1634211498003,"author":{"id":"3569202984055620","authorId":"3569202984055620","name":"RoaringDoggo","avatar":"https://static.tigerbbs.com/928555cc01c0081376fe67f38b3a9706","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569202984055620","idStr":"3569202984055620"},"themes":[],"title":"","htmlText":"To the moon! 🚀","listText":"To the moon! 🚀","text":"To the moon! 🚀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/100165175","repostId":"1179396069","repostType":4,"repost":{"id":"1179396069","kind":"news","pubTimestamp":1619573853,"share":"https://www.laohunote.com/m/news/1179396069?lang=zh_CN&edition=full","pubTime":"2021-04-28 09:37","market":"us","language":"en","title":"Apple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.<blockquote>苹果可能会再次夸大盈利。这对股票意味着什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1179396069","media":"Barrons","summary":"Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech g","content":"<p>Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech giant just might be able to pull it off.</p><p><blockquote>苹果要超越 2020 年的井喷结果,还有很多工作要做。问题是,这家科技巨头或许能够实现这一目标。</blockquote></p><p> The buzz around Apple last year was off the charts, even for what is the buzziest of technology companies. Anticipation of the fall launch of the company’s first 5G phones, surging demand for both Macs and iPads as the pandemic rolled on, and strength in both wearables and services fed off each other. The pieces all came together in the December quarter, when Apple (ticker: AAPL) posted its biggest quarter ever. Sales soared 21% to $111.4 billion, more than $8 billion over the Street consensus. Every product category—iPhone, iPad, Macs, wearables, and services—notched double-digit growth. Apple stock finished the year up 81%, adding nearly $1 trillion to its market cap.</p><p><blockquote>去年围绕苹果的热议是出乎意料的,即使对于最热门的科技公司来说也是如此。预计该公司将于秋季推出首款 5G 手机,随着大流行病的持续,对 Mac 和 iPad 的需求激增,以及可穿戴设备和服务的实力相互促进。所有这些都是在 12 月季度汇集在一起的,当时苹果(股票代码:AAPL)公布了有史以来最大的季度业绩。销售额飙升 21%,达到 1114 亿美元,比华尔街共识高出 80 多亿美元。每个产品类别——iPhone、iPad、Mac、可穿戴设备和服务——都实现了两位数的增长。苹果股价年底上涨 81%,市值增加近 1 万亿美元。</blockquote></p><p> That’s a tough act to follow, particularly with the March quarter, which always slows from the holiday-boosted December quarter. But Apple could pull off the quintuple double again when its results come out after the bell Wednesday. The Street certainly thinks so, even if the market, which has pushed Apple shares up less than 2% in 2021, has been more cautious. Consensus estimates call for double-digit increases from last year across the board: iPhones sales up 43%, to $41.4 billion; iPad sales up 29%, to $5.6 billion; Mac sales of $6.8 billion, up 27%; wearables sales (mostly Apple Watch and AirPods) of $7.4 billion, up 18%; and a 16% bump in services, to $15.5 billion.</p><p><blockquote>这是一个很难跟上的动作,尤其是三月份的季度,与假期提振的十二月份相比,三月份的季度总是放缓。但是当苹果的结果在周三下午公布时,它可能会再次实现五双。华尔街当然这么认为,即使市场更加谨慎,这使得苹果股价在 2021 年上涨了不到 2%。普遍估计看涨期权将比去年全面增长两位数:iPhone 销量增长 43%,达到 414 亿美元;iPad销售额增长29%,达到56亿美元;Mac销售额为68亿美元,增长27%;可穿戴设备(主要是苹果手表和AirPods)销售额74亿美元,增长18%;服务业增长 16%,达到 155 亿美元。</blockquote></p><p> Overall, the Street consensus expects sales of $77 billion, up 32% from a year ago, with profits of 98 cents a share. That would be the fastest top-line growth rate for any Apple quarter since March 2012, when revenues were about half what they are now. And most bullish Apple analysts seem to think their own estimates are too low—a print at $77 billion would likely trigger a selloff in the stock.</p><p><blockquote>总体而言,华尔街共识预计销售额为 770 亿美元,同比增长 32%,每股利润为 98 美分。这将是苹果自 2012 年 3 月以来最快的营收增长率,当时的收入约为现在的一半。大多数看涨的苹果分析师似乎认为他们自己的估计太低了——770亿美元的印刷可能会引发该股的抛售。</blockquote></p><p> Apple is also expected to provide an update on its capital-allocation strategy. A year ago,the company announced a 6% dividend increase, and boosted its stock repurchase plan by $50 billion. Apple has said repeatedly that it is pushing to get to a cash neutral position, but its remarkably big cash flow has slowed progress toward that goal.</p><p><blockquote>预计苹果还将提供其资本配置策略的最新情况。一年前,该公司宣布将股息增加6%,并将股票回购计划增加500亿美元。苹果一再表示,它正在努力实现现金中性立场,但其巨大的现金流减缓了实现这一目标的进展。</blockquote></p><p> As always, the quarter is about more than just earnings.</p><p><blockquote>与往常一样,本季度不仅仅是收益。</blockquote></p><p> For one, the Street will be looking for signs that the sales surge for Macs and iPads is sustainable—and that the company is keeping up with demand despite widespread chip and display shortages. Some investors worry that the spike in PC demand could ebb as more people return to schools and offices. They’ll be looking for company guidance on that point.</p><p><blockquote>首先,华尔街将寻找 Mac 和 iPad 销量激增是可持续的迹象,以及尽管芯片和显示器普遍短缺,但该公司仍在满足需求。一些投资者担心,随着越来越多的人重返学校和办公室,个人电脑需求的激增可能会消退。他们将寻求公司在这方面的指导。</blockquote></p><p> Another is the sustainability of the resurgence in iPhone growth. There were high hopes among bulls that the iPhone 12 would drive a “supercycle” with an accelerated replacement cycle. Several analysts have noted that a clear consumer preference for the high end of the iPhone 12 line is driving up average selling prices, which should support a strong revenue quarter for the segment.</p><p><blockquote>另一个是iPhone增长复苏的可持续性。看涨者对 iPhone 12 寄予厚望,认为它将推动一个 “超级周期”,加速更换周期。几位分析师指出,消费者对 iPhone 12 系列高端产品的明显偏好正在推高平均售价,这应该会支撑该细分市场季度的强劲收入。</blockquote></p><p> “Given the later-than-seasonal launch of new iPhones in the fall of 2020, we believe iPhone demand will experience more favorable year-over-year comparisons this March quarter compared to past years,” writes Monness Crespi Hardt’s Brian White, who sees 47% iPhone revenue growth during the quarter.</p><p><blockquote>Monness Crespi Hardt 的 Brian White 写道:“鉴于 2020 年秋季新款 iPhone 的上市时间晚于季节性,我们相信,与往年相比,今年 3 月季度 iPhone 的需求将出现更有利的同比增长。”他预计本季度 iPhone 的收入将增长 47%。</blockquote></p><p> And if Apple pulls it all together? Apple could crush Street estimates, writes Morgan Stanley analyst Katy Huberty, who has an Overweight rating and a $158 price target on the stock, up 17% from Monday’s close of $134.72. She sees the top line above $80 billion, with all segments growing at least 19% year over year. She is especially bullish on Mac and iPad sales, with estimates far above consensus—53% for Macs and 52% for iPads. She also expects Apple to increase its dividend by 10% and expand its stock repurchase program by $60 billion.</p><p><blockquote>如果苹果把这一切都拉在一起呢?摩根士丹利(Morgan Stanley)分析师凯蒂-休伯蒂(Katy Huberty)写道,苹果可能会打破华尔街的预期。她预计营收将超过 800 亿美元,所有细分市场同比增长至少 19%。她尤其看好 Mac 和 iPad 的销量,预计 Mac 为 53%,iPad 为 52%。她还预计苹果将把股息增加 10%,并将股票回购计划扩大 600 亿美元。</blockquote></p><p> That would certainly qualify as a job well done.</p><p><blockquote>这当然是一项出色的工作。</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>Apple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.<blockquote>苹果可能会再次夸大盈利。这对股票意味着什么。</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\">\nApple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.<blockquote>苹果可能会再次夸大盈利。这对股票意味着什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-04-28 09:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech giant just might be able to pull it off.</p><p><blockquote>苹果要超越 2020 年的井喷结果,还有很多工作要做。问题是,这家科技巨头或许能够实现这一目标。</blockquote></p><p> The buzz around Apple last year was off the charts, even for what is the buzziest of technology companies. Anticipation of the fall launch of the company’s first 5G phones, surging demand for both Macs and iPads as the pandemic rolled on, and strength in both wearables and services fed off each other. The pieces all came together in the December quarter, when Apple (ticker: AAPL) posted its biggest quarter ever. Sales soared 21% to $111.4 billion, more than $8 billion over the Street consensus. Every product category—iPhone, iPad, Macs, wearables, and services—notched double-digit growth. Apple stock finished the year up 81%, adding nearly $1 trillion to its market cap.</p><p><blockquote>去年围绕苹果的热议是出乎意料的,即使对于最热门的科技公司来说也是如此。预计该公司将于秋季推出首款 5G 手机,随着大流行病的持续,对 Mac 和 iPad 的需求激增,以及可穿戴设备和服务的实力相互促进。所有这些都是在 12 月季度汇集在一起的,当时苹果(股票代码:AAPL)公布了有史以来最大的季度业绩。销售额飙升 21%,达到 1114 亿美元,比华尔街共识高出 80 多亿美元。每个产品类别——iPhone、iPad、Mac、可穿戴设备和服务——都实现了两位数的增长。苹果股价年底上涨 81%,市值增加近 1 万亿美元。</blockquote></p><p> That’s a tough act to follow, particularly with the March quarter, which always slows from the holiday-boosted December quarter. But Apple could pull off the quintuple double again when its results come out after the bell Wednesday. The Street certainly thinks so, even if the market, which has pushed Apple shares up less than 2% in 2021, has been more cautious. Consensus estimates call for double-digit increases from last year across the board: iPhones sales up 43%, to $41.4 billion; iPad sales up 29%, to $5.6 billion; Mac sales of $6.8 billion, up 27%; wearables sales (mostly Apple Watch and AirPods) of $7.4 billion, up 18%; and a 16% bump in services, to $15.5 billion.</p><p><blockquote>这是一个很难跟上的动作,尤其是三月份的季度,与假期提振的十二月份相比,三月份的季度总是放缓。但是当苹果的结果在周三下午公布时,它可能会再次实现五双。华尔街当然这么认为,即使市场更加谨慎,这使得苹果股价在 2021 年上涨了不到 2%。普遍估计看涨期权将比去年全面增长两位数:iPhone 销量增长 43%,达到 414 亿美元;iPad销售额增长29%,达到56亿美元;Mac销售额为68亿美元,增长27%;可穿戴设备(主要是苹果手表和AirPods)销售额74亿美元,增长18%;服务业增长 16%,达到 155 亿美元。</blockquote></p><p> Overall, the Street consensus expects sales of $77 billion, up 32% from a year ago, with profits of 98 cents a share. That would be the fastest top-line growth rate for any Apple quarter since March 2012, when revenues were about half what they are now. And most bullish Apple analysts seem to think their own estimates are too low—a print at $77 billion would likely trigger a selloff in the stock.</p><p><blockquote>总体而言,华尔街共识预计销售额为 770 亿美元,同比增长 32%,每股利润为 98 美分。这将是苹果自 2012 年 3 月以来最快的营收增长率,当时的收入约为现在的一半。大多数看涨的苹果分析师似乎认为他们自己的估计太低了——770亿美元的印刷可能会引发该股的抛售。</blockquote></p><p> Apple is also expected to provide an update on its capital-allocation strategy. A year ago,the company announced a 6% dividend increase, and boosted its stock repurchase plan by $50 billion. Apple has said repeatedly that it is pushing to get to a cash neutral position, but its remarkably big cash flow has slowed progress toward that goal.</p><p><blockquote>预计苹果还将提供其资本配置策略的最新情况。一年前,该公司宣布将股息增加6%,并将股票回购计划增加500亿美元。苹果一再表示,它正在努力实现现金中性立场,但其巨大的现金流减缓了实现这一目标的进展。</blockquote></p><p> As always, the quarter is about more than just earnings.</p><p><blockquote>与往常一样,本季度不仅仅是收益。</blockquote></p><p> For one, the Street will be looking for signs that the sales surge for Macs and iPads is sustainable—and that the company is keeping up with demand despite widespread chip and display shortages. Some investors worry that the spike in PC demand could ebb as more people return to schools and offices. They’ll be looking for company guidance on that point.</p><p><blockquote>首先,华尔街将寻找 Mac 和 iPad 销量激增是可持续的迹象,以及尽管芯片和显示器普遍短缺,但该公司仍在满足需求。一些投资者担心,随着越来越多的人重返学校和办公室,个人电脑需求的激增可能会消退。他们将寻求公司在这方面的指导。</blockquote></p><p> Another is the sustainability of the resurgence in iPhone growth. There were high hopes among bulls that the iPhone 12 would drive a “supercycle” with an accelerated replacement cycle. Several analysts have noted that a clear consumer preference for the high end of the iPhone 12 line is driving up average selling prices, which should support a strong revenue quarter for the segment.</p><p><blockquote>另一个是iPhone增长复苏的可持续性。看涨者对 iPhone 12 寄予厚望,认为它将推动一个 “超级周期”,加速更换周期。几位分析师指出,消费者对 iPhone 12 系列高端产品的明显偏好正在推高平均售价,这应该会支撑该细分市场季度的强劲收入。</blockquote></p><p> “Given the later-than-seasonal launch of new iPhones in the fall of 2020, we believe iPhone demand will experience more favorable year-over-year comparisons this March quarter compared to past years,” writes Monness Crespi Hardt’s Brian White, who sees 47% iPhone revenue growth during the quarter.</p><p><blockquote>Monness Crespi Hardt 的 Brian White 写道:“鉴于 2020 年秋季新款 iPhone 的上市时间晚于季节性,我们相信,与往年相比,今年 3 月季度 iPhone 的需求将出现更有利的同比增长。”他预计本季度 iPhone 的收入将增长 47%。</blockquote></p><p> And if Apple pulls it all together? Apple could crush Street estimates, writes Morgan Stanley analyst Katy Huberty, who has an Overweight rating and a $158 price target on the stock, up 17% from Monday’s close of $134.72. She sees the top line above $80 billion, with all segments growing at least 19% year over year. She is especially bullish on Mac and iPad sales, with estimates far above consensus—53% for Macs and 52% for iPads. She also expects Apple to increase its dividend by 10% and expand its stock repurchase program by $60 billion.</p><p><blockquote>如果苹果把这一切都拉在一起呢?摩根士丹利(Morgan Stanley)分析师凯蒂-休伯蒂(Katy Huberty)写道,苹果可能会打破华尔街的预期。她预计营收将超过 800 亿美元,所有细分市场同比增长至少 19%。她尤其看好 Mac 和 iPad 的销量,预计 Mac 为 53%,iPad 为 52%。她还预计苹果将把股息增加 10%,并将股票回购计划扩大 600 亿美元。</blockquote></p><p> That would certainly qualify as a job well done.</p><p><blockquote>这当然是一项出色的工作。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.barrons.com/articles/apple-could-blow-the-top-off-earningsagain-what-that-would-mean-for-the-stock-51619495288?mod=hp_DAY_Theme_1_2\">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":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/apple-could-blow-the-top-off-earningsagain-what-that-would-mean-for-the-stock-51619495288?mod=hp_DAY_Theme_1_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179396069","content_text":"Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech giant just might be able to pull it off.\nThe buzz around Apple last year was off the charts, even for what is the buzziest of technology companies. Anticipation of the fall launch of the company’s first 5G phones, surging demand for both Macs and iPads as the pandemic rolled on, and strength in both wearables and services fed off each other. The pieces all came together in the December quarter, when Apple (ticker: AAPL) posted its biggest quarter ever. Sales soared 21% to $111.4 billion, more than $8 billion over the Street consensus. Every product category—iPhone, iPad, Macs, wearables, and services—notched double-digit growth. Apple stock finished the year up 81%, adding nearly $1 trillion to its market cap.\nThat’s a tough act to follow, particularly with the March quarter, which always slows from the holiday-boosted December quarter. But Apple could pull off the quintuple double again when its results come out after the bell Wednesday. The Street certainly thinks so, even if the market, which has pushed Apple shares up less than 2% in 2021, has been more cautious. Consensus estimates call for double-digit increases from last year across the board: iPhones sales up 43%, to $41.4 billion; iPad sales up 29%, to $5.6 billion; Mac sales of $6.8 billion, up 27%; wearables sales (mostly Apple Watch and AirPods) of $7.4 billion, up 18%; and a 16% bump in services, to $15.5 billion.\nOverall, the Street consensus expects sales of $77 billion, up 32% from a year ago, with profits of 98 cents a share. That would be the fastest top-line growth rate for any Apple quarter since March 2012, when revenues were about half what they are now. And most bullish Apple analysts seem to think their own estimates are too low—a print at $77 billion would likely trigger a selloff in the stock.\nApple is also expected to provide an update on its capital-allocation strategy. A year ago,the company announced a 6% dividend increase, and boosted its stock repurchase plan by $50 billion. Apple has said repeatedly that it is pushing to get to a cash neutral position, but its remarkably big cash flow has slowed progress toward that goal.\nAs always, the quarter is about more than just earnings.\nFor one, the Street will be looking for signs that the sales surge for Macs and iPads is sustainable—and that the company is keeping up with demand despite widespread chip and display shortages. Some investors worry that the spike in PC demand could ebb as more people return to schools and offices. They’ll be looking for company guidance on that point.\nAnother is the sustainability of the resurgence in iPhone growth. There were high hopes among bulls that the iPhone 12 would drive a “supercycle” with an accelerated replacement cycle. Several analysts have noted that a clear consumer preference for the high end of the iPhone 12 line is driving up average selling prices, which should support a strong revenue quarter for the segment.\n“Given the later-than-seasonal launch of new iPhones in the fall of 2020, we believe iPhone demand will experience more favorable year-over-year comparisons this March quarter compared to past years,” writes Monness Crespi Hardt’s Brian White, who sees 47% iPhone revenue growth during the quarter.\nAnd if Apple pulls it all together? Apple could crush Street estimates, writes Morgan Stanley analyst Katy Huberty, who has an Overweight rating and a $158 price target on the stock, up 17% from Monday’s close of $134.72. She sees the top line above $80 billion, with all segments growing at least 19% year over year. She is especially bullish on Mac and iPad sales, with estimates far above consensus—53% for Macs and 52% for iPads. She also expects Apple to increase its dividend by 10% and expand its stock repurchase program by $60 billion.\nThat would certainly qualify as a job well done.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1654,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371753635,"gmtCreate":1618974197727,"gmtModify":1634289485155,"author":{"id":"3569202984055620","authorId":"3569202984055620","name":"RoaringDoggo","avatar":"https://static.tigerbbs.com/928555cc01c0081376fe67f38b3a9706","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3569202984055620","idStr":"3569202984055620"},"themes":[],"title":"","htmlText":"AAPL pls print","listText":"AAPL pls print","text":"AAPL pls print","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/371753635","repostId":"1193736432","repostType":4,"isVote":1,"tweetType":1,"viewCount":1556,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":false}