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Lsiang

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- LsiangLsiang
  ·2023-10-28
  Good or bad time? What should we do now?
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- LsiangLsiang
  ·2023-02-25
  Good time? Bad time?
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- LsiangLsiang
  ·2023-02-21
  Thxx
  3 Singapore Stocks to Keep Your Eye on in February
  These three companies reported interesting news that may act as catalysts for their business and sha
  3 Singapore Stocks to Keep Your Eye on in February
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- LsiangLsiang
  ·2022-11-25
  Thanksss
  3 Big Reasons To Love Apple Stock
  Let’s take a step back from the news of the day: why is AAPL a great stock to own? Today, I list my
  3 Big Reasons To Love Apple Stock
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- LsiangLsiang
  ·2022-11-25
  Okiee
  Open Sesame - Alibaba, Buy The Bottom
  SummaryAlibaba stock is down around 61% over the past five years. We believe the pullback creates an
  Open Sesame - Alibaba, Buy The Bottom
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- LsiangLsiang
  ·2022-11-25
  Okieee
  Palantir: I Am Still Not Willing To Gamble
  SummaryPalantir is still not profitable but reported solid third quarter results and is still growin
  Palantir: I Am Still Not Willing To Gamble
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- LsiangLsiang
  ·2022-11-23
  Thanksss
  Apple And Taiwan Semiconductor: Let's Ask Buffett
  SummaryAs a long-time Buffett cultist, I understand (not to say I am able to anticipate) most of his
  Apple And Taiwan Semiconductor: Let's Ask Buffett
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- LsiangLsiang
  ·2022-10-30
  Okiee
  Sorry, this post has been deleted
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- LsiangLsiang
  ·2022-10-13
  Okie
  Taiwan Semiconductor Manufacturing Jumped Over 5% After Showing Its Financial Result
  Taiwan Semiconductor Manufacturing jumped over 5% after showing its financial result.It posted an 80
  Taiwan Semiconductor Manufacturing Jumped Over 5% After Showing Its Financial Result
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- LsiangLsiang
  ·2022-10-13
  Cool
  PepsiCo Tops Q3 Earnings, Raises FY2022 Earnings Outlook
  PepsiCo Inc. stock rose sharply in early premarket trading after the company posted better-than-expe
  PepsiCo Tops Q3 Earnings, Raises FY2022 Earnings Outlook
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What should we do now?&nbsp;","listText":"Good or bad time? What should we do now?&nbsp;","text":"Good or bad time? What should we do now?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/235420278960344","isVote":1,"tweetType":1,"viewCount":2748,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957271395,"gmtCreate":1677340478318,"gmtModify":1677340482557,"author":{"id":"4098789595583910","authorId":"4098789595583910","name":"Lsiang","avatar":"https://static.tigerbbs.com/62eed67ef2903480b12edb04a756fb53","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4098789595583910","authorIdStr":"4098789595583910"},"themes":[],"htmlText":"Good time? Bad time?&nbsp;","listText":"Good time? Bad time?&nbsp;","text":"Good time? Bad time?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957271395","isVote":1,"tweetType":1,"viewCount":2995,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957300731,"gmtCreate":1676964688324,"gmtModify":1676964690505,"author":{"id":"4098789595583910","authorId":"4098789595583910","name":"Lsiang","avatar":"https://static.tigerbbs.com/62eed67ef2903480b12edb04a756fb53","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4098789595583910","authorIdStr":"4098789595583910"},"themes":[],"htmlText":"Thxx","listText":"Thxx","text":"Thxx","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957300731","repostId":"1186621911","repostType":2,"repost":{"id":"1186621911","kind":"news","pubTimestamp":1675302228,"share":"https://ttm.financial/m/news/1186621911?lang=&edition=fundamental","pubTime":"2023-02-02 09:43","market":"sg","language":"en","title":"3 Singapore Stocks to Keep Your Eye on in February","url":"https://stock-news.laohu8.com/highlight/detail?id=1186621911","media":"The Smart Investor","summary":"These three companies reported interesting news that may act as catalysts for their business and sha","content":"<html><head></head><body><p>These three companies reported interesting news that may act as catalysts for their business and share prices.</p><p><img src=\"https://static.tigerbbs.com/6bf515f6847902b0dbfefe7db2e29f39\" tg-width=\"800\" tg-height=\"533\" width=\"100%\" height=\"auto\"/></p><p>It’s always useful to look out for catalysts that can propel a business to greater heights.</p><p>These catalysts can be in the form of a merger and acquisitions (M&amp;A), a spin-off, the clinching of a significant contract, or a potential buy-out offer that helps to unlock value.</p><p>Whatever the case, it pays to scrutinise the information to determine if the business will enjoy better business prospects.</p><p>These corporate moves could help you to decide if it’s worthwhile to park some money in these stocks.</p><p>Let’s take a closer look at three Singapore stocks that recently announced newsworthy corporate developments.</p><p>As February approaches, this trio of companies could make it into your buy watchlist if you decide to rejig your investment portfolio.</p><p><b>Olam Group Ltd (SGX: VC2)</b></p><p>Olam Group is a leading food and agri-business supplying food, ingredients, feed, and fibre to 20,900 customers worldwide.</p><p>The group has a presence in over 60 countries and has a sourcing network involving around five million farmers.</p><p>In early January, Olam Group announced its plan to list its agricultural division, Olam Agri, as early as the first half of 2023 (1H2023).</p><p>The primary listing will take place on <b>Singapore Exchange Limited</b> (SGX: S68), or SGX, with a potential concurrent listing in Saudi Arabia.</p><p>Olam Agri is present in more than 30 countries and employs 9,100+ employees.</p><p>For fiscal 2021 (FY2021), Olam Agri handled 41 million tonnes of agricultural products and owned more than 50 manufacturing and processing facilities.</p><p>As part of the IPO process, Olam Agri will be demerged from Olam Group via a dividend-in-specie (i.e. distribution of shares in the former) to eligible Olam Group shareholders.</p><p>Olam Agri’s operating profit has risen by 40.1% per annum from 2019 to 2021, an impressive performance against the backdrop of the pandemic, supply chain disruptions and geopolitical tensions.</p><p>Olam International’s original reorganisation plan split the group into three separate entities – Olam Group, Olam Agri, and Olam Food Ingredients (ofi).</p><p>On this note, Olam Group intends to list ofi on the premium segment of the London Stock Exchange with a concurrent listing on SGX.</p><p>No timeline has been provided for ofi’s eventual listing, but it will take place after Olam Agri’s successful IPO.</p><p><b>APAC Realty (SGX: CLN)</b></p><p>APAC Realty is a real estate services provider that holds the ERA regional master franchise rights for 17 countries in the Asia Pacific.</p><p>Through this network, the group has a significant presence in Asia with 20,600 advisors across 654 offices.</p><p>APAC Realty acquired an additional 22% stake in ERA Vietnam for S$4.9 million which comes with an earn-out incentive of S$10.5 million.</p><p>The aggregate consideration amounts to S$15.4 million but the incentive will only be paid to the sellers if they achieve the performance targets set out in the sale and purchase agreement.</p><p>For context, APAC Realty acquired an initial 38% stake in ERA Vietnam back in February 2020. Upon completion, the group’s stake in ERA Vietnam will rise to 60%, making it a subsidiary of the listed property services group.</p><p>ERA Vietnam was set up in 2017 and has grown its salesperson numbers from less than 100 at its founding to around 3,900 as of 31 December 2022.</p><p>The division has also grown its revenue significantly from around S$4.4 million in 2020 to around S$7 million in the first nine months of 2022.</p><p>Vietnam has ambitious plans to become a developed country by 2045.</p><p>The government has planned for 5,000 kilometres of expressways by 2030 along with a 1,545-kilometre high-speed railway by 2045.</p><p>These infrastructure developments should drive healthy real estate development, thus providing a bright future for ERA Vietnam.</p><p><b>Sabana Industrial REIT (SGX: M1GU)</b></p><p>Sabana Industrial REIT owns a portfolio of 18 properties in Singapore amounting to S$900 million as of 31 December 2022.</p><p>In mid-January, Volare Group AG (the “offeror”) made a voluntary conditional partial offer for 10% of the units of Sabana Industrial REIT at an offer price of S$0.465 per unit.</p><p>The offeror currently owns 5.4% of the REIT and is one of Switzerland’s leading suppliers of fossil fuels.</p><p>Volare Group AG also provides vehicle care, wood production, and construction services and owns investments in real estate and property companies.</p><p>This partial offer was made as the offeror wishes to diversify its business away from fossil fuels and believes there is inherent long-term value in Sabana Industrial REIT’s units.</p><p>The REIT had just announced its FY2022 earnings with gross revenue rising by 15.9% year on year to S$94.9 million.</p><p>Net property income inched up 2.6% year on year to S$53.3 million but distribution per unit remained unchanged at S$0.0305.</p><p>Units of the REIT offered a trailing distribution yield of 6.9%.</p></body></html>","source":"lsy1602567310727","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Singapore Stocks to Keep Your Eye on in February\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-02 09:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/3-singapore-stocks-to-keep-your-eye-on-in-february/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>These three companies reported interesting news that may act as catalysts for their business and share prices.It’s always useful to look out for catalysts that can propel a business to greater heights...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/3-singapore-stocks-to-keep-your-eye-on-in-february/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VC2.SI":"Olam Group","M1GU.SI":"胜宝工业信托","CLN.SI":"APAC 产业"},"source_url":"https://thesmartinvestor.com.sg/3-singapore-stocks-to-keep-your-eye-on-in-february/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186621911","content_text":"These three companies reported interesting news that may act as catalysts for their business and share prices.It’s always useful to look out for catalysts that can propel a business to greater heights.These catalysts can be in the form of a merger and acquisitions (M&A), a spin-off, the clinching of a significant contract, or a potential buy-out offer that helps to unlock value.Whatever the case, it pays to scrutinise the information to determine if the business will enjoy better business prospects.These corporate moves could help you to decide if it’s worthwhile to park some money in these stocks.Let’s take a closer look at three Singapore stocks that recently announced newsworthy corporate developments.As February approaches, this trio of companies could make it into your buy watchlist if you decide to rejig your investment portfolio.Olam Group Ltd (SGX: VC2)Olam Group is a leading food and agri-business supplying food, ingredients, feed, and fibre to 20,900 customers worldwide.The group has a presence in over 60 countries and has a sourcing network involving around five million farmers.In early January, Olam Group announced its plan to list its agricultural division, Olam Agri, as early as the first half of 2023 (1H2023).The primary listing will take place on Singapore Exchange Limited (SGX: S68), or SGX, with a potential concurrent listing in Saudi Arabia.Olam Agri is present in more than 30 countries and employs 9,100+ employees.For fiscal 2021 (FY2021), Olam Agri handled 41 million tonnes of agricultural products and owned more than 50 manufacturing and processing facilities.As part of the IPO process, Olam Agri will be demerged from Olam Group via a dividend-in-specie (i.e. distribution of shares in the former) to eligible Olam Group shareholders.Olam Agri’s operating profit has risen by 40.1% per annum from 2019 to 2021, an impressive performance against the backdrop of the pandemic, supply chain disruptions and geopolitical tensions.Olam International’s original reorganisation plan split the group into three separate entities – Olam Group, Olam Agri, and Olam Food Ingredients (ofi).On this note, Olam Group intends to list ofi on the premium segment of the London Stock Exchange with a concurrent listing on SGX.No timeline has been provided for ofi’s eventual listing, but it will take place after Olam Agri’s successful IPO.APAC Realty (SGX: CLN)APAC Realty is a real estate services provider that holds the ERA regional master franchise rights for 17 countries in the Asia Pacific.Through this network, the group has a significant presence in Asia with 20,600 advisors across 654 offices.APAC Realty acquired an additional 22% stake in ERA Vietnam for S$4.9 million which comes with an earn-out incentive of S$10.5 million.The aggregate consideration amounts to S$15.4 million but the incentive will only be paid to the sellers if they achieve the performance targets set out in the sale and purchase agreement.For context, APAC Realty acquired an initial 38% stake in ERA Vietnam back in February 2020. Upon completion, the group’s stake in ERA Vietnam will rise to 60%, making it a subsidiary of the listed property services group.ERA Vietnam was set up in 2017 and has grown its salesperson numbers from less than 100 at its founding to around 3,900 as of 31 December 2022.The division has also grown its revenue significantly from around S$4.4 million in 2020 to around S$7 million in the first nine months of 2022.Vietnam has ambitious plans to become a developed country by 2045.The government has planned for 5,000 kilometres of expressways by 2030 along with a 1,545-kilometre high-speed railway by 2045.These infrastructure developments should drive healthy real estate development, thus providing a bright future for ERA Vietnam.Sabana Industrial REIT (SGX: M1GU)Sabana Industrial REIT owns a portfolio of 18 properties in Singapore amounting to S$900 million as of 31 December 2022.In mid-January, Volare Group AG (the “offeror”) made a voluntary conditional partial offer for 10% of the units of Sabana Industrial REIT at an offer price of S$0.465 per unit.The offeror currently owns 5.4% of the REIT and is one of Switzerland’s leading suppliers of fossil fuels.Volare Group AG also provides vehicle care, wood production, and construction services and owns investments in real estate and property companies.This partial offer was made as the offeror wishes to diversify its business away from fossil fuels and believes there is inherent long-term value in Sabana Industrial REIT’s units.The REIT had just announced its FY2022 earnings with gross revenue rising by 15.9% year on year to S$94.9 million.Net property income inched up 2.6% year on year to S$53.3 million but distribution per unit remained unchanged at S$0.0305.Units of the REIT offered a trailing distribution yield of 6.9%.","news_type":1,"symbols_score_info":{"M1GU.SI":0.9,"CLN.SI":0.9,"VC2.SI":0.9}},"isVote":1,"tweetType":1,"viewCount":2283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968477985,"gmtCreate":1669308819547,"gmtModify":1676538181789,"author":{"id":"4098789595583910","authorId":"4098789595583910","name":"Lsiang","avatar":"https://static.tigerbbs.com/62eed67ef2903480b12edb04a756fb53","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4098789595583910","authorIdStr":"4098789595583910"},"themes":[],"htmlText":"Thanksss","listText":"Thanksss","text":"Thanksss","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968477985","repostId":"1184446148","repostType":4,"repost":{"id":"1184446148","kind":"news","pubTimestamp":1669303814,"share":"https://ttm.financial/m/news/1184446148?lang=&edition=fundamental","pubTime":"2022-11-24 23:30","market":"us","language":"en","title":"3 Big Reasons To Love Apple Stock","url":"https://stock-news.laohu8.com/highlight/detail?id=1184446148","media":"TheStreet","summary":"Let’s take a step back from the news of the day: why is AAPL a great stock to own? Today, I list my ","content":"<html><head></head><body><p>Let’s take a step back from the news of the day: why is AAPL a great stock to own? Today, I list my top 3 fundamental reasons.</p><p>When it comes to <b>Apple</b> stock, even I am sometimes to blame for focusing a bit too much on the “here and now”. What do iPhone sales in the holiday quarter look like? Is Apple pulling back production in China? Can the stock build upon recent momentum?</p><p>So now, I take one step back. More fundamentally, what are some of the main reasons why investors might want to own AAPL shares? There are probably many of them, but I will start with my own top 3 list today.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a934c8d32eb2b80a07cf98af6caf9467\" tg-width=\"1240\" tg-height=\"827\" referrerpolicy=\"no-referrer\"/><span>Figure 1: 3 Big Reasons To Love Apple Stock</span></p><h2>AAPL Reason #1: Massive ROIC</h2><p>ROIC, or return on invested capital, is a metric that many analysts and investors like to track. It contrasts a company’s earnings (numerator) against the cash raised from debt and equity investors (denominator). Think of the formula:</p><p>ROIC = NOPAT ÷ Invested Capital, in which:</p><ul><li>NOPAT is the net operating profit after tax, a similar concept to net income</li><li>Invested capital is largely equity plus debt investments minus cash</li></ul><p>The higher the ROIC, the better. It means that the company is able to “deliver more with less”: lots of profits with relatively small quantities of capital invested into the firm.</p><p>Companies in a good competitive position whose wide moat protects the business model well tend to have high ROIC. On the other hand, cut-throat competition that chips away at a company’s profits and margins tends to lead to low ROIC.</p><p>Apple’s ROIC hovered around 35% in 2010, within three years following the launch of the iPhone and the iPad. That’s really not a bad number at all, considering Apple’s weighted cost of capital that is probably short of 10%.</p><p>But since then, Apple’s ROIC has skyrocketed (see below). Today, the number is a staggering 56%. Relative to the investment that debtholders and equity holders have placed into the company, Apple is a massive profit-producing machine.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fbc66682044c0970e857a65b8974a103\" tg-width=\"1178\" tg-height=\"336\" referrerpolicy=\"no-referrer\"/><span>Figure 2: AAPL&#39;s ROIC.</span></p><p>There are two main reasons why Apple has been able to increase its ROIC, especially in the past five years. First, profits (the numerator) have increased as (1) the 5G-capable iPhone models became a hit among consumers, (2) Apple was able to maintain pricing power, and (3) margins improved with the growth of the services segment.</p><p>Second, investments in the company (the denominator) have decreased sharply, mostly due to Apple’s aggressive strategy of buying back shares since 2012(more on this below).</p><h2>AAPL Reason #2: Highly Efficient</h2><p>Although services represent a sizable 20% of total sales, Apple is still primarily a consumer products vendor. Companies like it live and die by how tightly it manages working capital – that is, receivables and inventory on the asset side, payables on the liability side.</p><p>The less cash a company ties up in receivables and inventory, and the longer it takes a company to pay its own vendors, the better. Introducing the concept of cash conversion cycle: the time it takes a company to convert cash into inventory, and then back into cash via sales.</p><p>On working capital management, Apple stands out. According to Finbox, Apple’s cash conversion cycle is -62 days – yes, a negative number. It effectively means that Apple does not tie up cash in operations at all: instead, operations are financed by Apple’s vendors.</p><p>The Cupertino giant is one of the few tech companies in the world that can pull this off.</p><h2>AAPL Reason #3: Shareholder Friendly</h2><p>One of the reasons why Apple has been able to increase its ROIC drastically (see #1 reason above) is due to share buybacks. Cash return to shareholders alone, in fact, is a great incentive to own Apple stock.</p><p>The chart below shows how Apple has been aggressive at buying its own shares since 2012 – shortly after CEO Tim Cook took over from legendary founder Steve Jobs. From 26 billion shares outstanding in 2013, the count has been cut by nearly half now.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/edc0fe435dfa3b213c100c70c5fed531\" tg-width=\"1186\" tg-height=\"339\" referrerpolicy=\"no-referrer\"/><span>Figure 3: AAPL&#39;s diluted shares.</span></p><p>The benefits have been twofold. First, fewer shares outstanding mean that net income is distributed across fewer shareholder units. As a result, earnings per share, a metric closely tracked by investors and analysts, have increased.</p><p>Second, Apple’s stock buyback program allows the company to be an ever-present bullish force in the market. Even when other investors turn sour on Apple stock, at least the Cupertino company can be there to create demand for its own shares.</p></body></html>","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>3 Big Reasons To Love Apple Stock</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Big Reasons To Love Apple Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-24 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/apple/stock/3-big-reasons-to-love-apple-stock><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Let’s take a step back from the news of the day: why is AAPL a great stock to own? Today, I list my top 3 fundamental reasons.When it comes to Apple stock, even I am sometimes to blame for focusing a ...</p>\n\n<a href=\"https://www.thestreet.com/apple/stock/3-big-reasons-to-love-apple-stock\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/stock/3-big-reasons-to-love-apple-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184446148","content_text":"Let’s take a step back from the news of the day: why is AAPL a great stock to own? Today, I list my top 3 fundamental reasons.When it comes to Apple stock, even I am sometimes to blame for focusing a bit too much on the “here and now”. What do iPhone sales in the holiday quarter look like? Is Apple pulling back production in China? Can the stock build upon recent momentum?So now, I take one step back. More fundamentally, what are some of the main reasons why investors might want to own AAPL shares? There are probably many of them, but I will start with my own top 3 list today.Figure 1: 3 Big Reasons To Love Apple StockAAPL Reason #1: Massive ROICROIC, or return on invested capital, is a metric that many analysts and investors like to track. It contrasts a company’s earnings (numerator) against the cash raised from debt and equity investors (denominator). Think of the formula:ROIC = NOPAT ÷ Invested Capital, in which:NOPAT is the net operating profit after tax, a similar concept to net incomeInvested capital is largely equity plus debt investments minus cashThe higher the ROIC, the better. It means that the company is able to “deliver more with less”: lots of profits with relatively small quantities of capital invested into the firm.Companies in a good competitive position whose wide moat protects the business model well tend to have high ROIC. On the other hand, cut-throat competition that chips away at a company’s profits and margins tends to lead to low ROIC.Apple’s ROIC hovered around 35% in 2010, within three years following the launch of the iPhone and the iPad. That’s really not a bad number at all, considering Apple’s weighted cost of capital that is probably short of 10%.But since then, Apple’s ROIC has skyrocketed (see below). Today, the number is a staggering 56%. Relative to the investment that debtholders and equity holders have placed into the company, Apple is a massive profit-producing machine.Figure 2: AAPL's ROIC.There are two main reasons why Apple has been able to increase its ROIC, especially in the past five years. First, profits (the numerator) have increased as (1) the 5G-capable iPhone models became a hit among consumers, (2) Apple was able to maintain pricing power, and (3) margins improved with the growth of the services segment.Second, investments in the company (the denominator) have decreased sharply, mostly due to Apple’s aggressive strategy of buying back shares since 2012(more on this below).AAPL Reason #2: Highly EfficientAlthough services represent a sizable 20% of total sales, Apple is still primarily a consumer products vendor. Companies like it live and die by how tightly it manages working capital – that is, receivables and inventory on the asset side, payables on the liability side.The less cash a company ties up in receivables and inventory, and the longer it takes a company to pay its own vendors, the better. Introducing the concept of cash conversion cycle: the time it takes a company to convert cash into inventory, and then back into cash via sales.On working capital management, Apple stands out. According to Finbox, Apple’s cash conversion cycle is -62 days – yes, a negative number. It effectively means that Apple does not tie up cash in operations at all: instead, operations are financed by Apple’s vendors.The Cupertino giant is one of the few tech companies in the world that can pull this off.AAPL Reason #3: Shareholder FriendlyOne of the reasons why Apple has been able to increase its ROIC drastically (see #1 reason above) is due to share buybacks. Cash return to shareholders alone, in fact, is a great incentive to own Apple stock.The chart below shows how Apple has been aggressive at buying its own shares since 2012 – shortly after CEO Tim Cook took over from legendary founder Steve Jobs. From 26 billion shares outstanding in 2013, the count has been cut by nearly half now.Figure 3: AAPL's diluted shares.The benefits have been twofold. First, fewer shares outstanding mean that net income is distributed across fewer shareholder units. As a result, earnings per share, a metric closely tracked by investors and analysts, have increased.Second, Apple’s stock buyback program allows the company to be an ever-present bullish force in the market. Even when other investors turn sour on Apple stock, at least the Cupertino company can be there to create demand for its own shares.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2019,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968474714,"gmtCreate":1669308767538,"gmtModify":1676538181784,"author":{"id":"4098789595583910","authorId":"4098789595583910","name":"Lsiang","avatar":"https://static.tigerbbs.com/62eed67ef2903480b12edb04a756fb53","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4098789595583910","authorIdStr":"4098789595583910"},"themes":[],"htmlText":"Okiee","listText":"Okiee","text":"Okiee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9968474714","repostId":"2285840582","repostType":4,"repost":{"id":"2285840582","kind":"highlight","pubTimestamp":1669294277,"share":"https://ttm.financial/m/news/2285840582?lang=&edition=fundamental","pubTime":"2022-11-24 20:51","market":"us","language":"en","title":"Open Sesame - Alibaba, Buy The Bottom","url":"https://stock-news.laohu8.com/highlight/detail?id=2285840582","media":"Seeking Alpha","summary":"SummaryAlibaba stock is down around 61% over the past five years. We believe the pullback creates an","content":"<html><head></head><body><h2>Summary</h2><ul><li>Alibaba stock is down around 61% over the past five years. We believe the pullback creates an attractive entry point to invest in the company at a discount.</li><li>We expect continuing COVID-19 lockdowns and weaker consumer spending in China to pressure the stock&#39;s main source of revenue, China e-commerce.</li><li>We&#39;re constructive on Alibaba as we believe the company&#39;s higher-spending consumers will make the stock more resilient even when total buyer numbers decline.</li><li>We like Alibaba&#39;s position in the cloud market, specifically with the Alibaba Cloud growing 4% Y/Y despite macroeconomic headwinds.</li><li>The stock is cheap, trading at 1.2x C2024 on a P/E basis compared to the peer group average of 17.7x. We recommend investors buy the pullback.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/02bc619e12091d82a2c307028adf3dd8\" tg-width=\"750\" tg-height=\"500\" referrerpolicy=\"no-referrer\"/><span>maybefalse</span></p><p>Alibaba (NYSE:BABA) stock popped around 8% after reporting 2Q23 earnings, despite missing revenue expectations. The Chinese tech and e-commerce giant has had its roughest year since going public, facing pressures from COVID-19 lockdowns, weakening consumer spending, and macroeconomic headwinds. Still, the company stays afloat. Our bullish sentiment on the stock is based on our belief that the worst of the macroeconomic headwinds and lockdown restrictions have been priced in, leaving the company&#39;s valuation too attractive to ignore.</p><p>We recommend investors buy the stock pullback because we believe Alibaba&#39;s core fundamentals remain intact. We expect the company to recover and grow meaningfully in CY2023 on the back of Alibaba Cloud and easing lockdown restrictions in China.</p><h2>Headwinds are priced in, for the most part</h2><p>Alibaba has been under significant pressure in its money-making department: China E-commerce. While Alibaba has expanded its business to integrate tech, the company remains a retailer at heart. The devaluation of the yuan currency, alongside the global weakening consumer spending, took a bite out of Alibaba&#39;s revenue this past quarter. Alibaba reported revenue of $29B, achieving a 3% Y/Y growth but falling short of expectations by $490M. Despite the 2Q23 earnings report, we believe Alibaba is well-positioned to grow in the e-commerce business in the long run. We believe Alibaba&#39;s customer base is more resilient than the market is giving it credit for. While 2Q23 reported a decline in the number of total buyers, we believe the company&#39;s Business-to-Business (B2B) model provides Alibaba with high-spending customers that will support sales even during market downtrends. We believe the company is trading cheaply for its position in the e-commerce market in China- with over 60% of the market share in 2021. We believe most of the weak consumer spending and lockdown restriction headwinds have been priced into the stock.</p><p>The following graph outlines Alibaba&#39;s annual revenue distribution between 2018-2022.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c3a7e4a20c30cfd12317dd986703610e\" tg-width=\"640\" tg-height=\"410\" referrerpolicy=\"no-referrer\"/><span>Statista</span></p><p>The stock has taken a hit- but we expect e-commerce to recover when 1) global consumer spending picks up and 2) as China eases the COVID-19 lockdown restrictions. The latter has already taken effect with China announcing restrictions are being lifted- despite China reporting that 25,353 individuals tested positive for COVID-19 on Friday. We expect China&#39;s &#39;Zero-COVID&#39; policies to remain uncertain towards the end of the year, but we believe the government is taking measures to fine-tune the restrictions so they do not disrupt business and daily life. We&#39;re more constructive on Alibaba&#39;s e-commerce business going forward and believe the stock&#39;s valuation is too attractive to ignore.</p><h2>Alibaba Cloud is the third-largest cloud provider</h2><p>Alibaba Cloud was the company&#39;s second revenue driver in its 2Q23 earnings report, growing 4% Y/Y. Alibaba is expanding its position as a cloud provider investing $1B in a &#34;global partner ecosystem upgrade.&#34; The Chinese Cloud provider is now the world&#39;s third-largest cloud provider after competitors Amazon (AMZN) and Microsoft (MSFT), with a worldwide market share of 9.5% in 2021, according to Gartner.</p><p>The following graph outlines Alibaba&#39;s position among the top cloud providers globally.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/85ba0ee67a5d0c119ce1ba60a6ae1418\" tg-width=\"640\" tg-height=\"367\" referrerpolicy=\"no-referrer\"/><span>Gartner</span></p><p>We like Alibaba&#39;s position in the cloud market forecasted to grow at a CAGR of 19.9% between 2022-2029. We expect Alibaba cloud to be at the core of advancing China&#39;s digitalization and expect the stock to benefit from the upward trend in the cloud market. The company&#39;s cloud business is already growing significantly.</p><p>The following graph outlines Alibaba Cloud&#39;s growth between 2018-2022.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4d27f0a0d647b3a6e49fac3e0ea1c8c1\" tg-width=\"640\" tg-height=\"412\" referrerpolicy=\"no-referrer\"/><span>Statista</span></p><h2>Stock Performance</h2><p>Alibaba stock is down around 63% over the past five years. YTD, the stock is down almost 35%. YTD, Alibaba is down alongside most of its peer group, with JD.com (JD)(HKG: 9618) dropping nearly 25%, Microsoft (MSFT) almost 28%, and Amazon (AMZN) around 56%. Our bullish thesis on the stock is based on our belief that the stock pullback creates an attractive entry point to invest in the company&#39;s 2023 growth.</p><p>The following graphs outline the company&#39;s stock performance over the past five years and YTD compared to the competition.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1df29074c370c73c90aa13754615bbf9\" tg-width=\"635\" tg-height=\"417\" referrerpolicy=\"no-referrer\"/><span>TechStockPros</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c524fe2940d3773117071febcbe01555\" tg-width=\"635\" tg-height=\"467\" referrerpolicy=\"no-referrer\"/><span>TechStockPros</span></p><h2>Valuation</h2><p>Alibaba is exceptionally cheap, trading at 1.2x C2024 on a P/E basis EPS $66.17 compared to the peer group average of 17.7x. The stock is trading at 0.2x EV/C2024 Sales versus 4.0x. Alibaba&#39;s valuation is central to our buy thesis. The stock is down around 44% from its 52-week high of $139, and we believe the company provides an attractive entry point into a major retail and tech company.</p><p>The following table outlines BABA&#39;s valuation compared to the peer group.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/356b527cff5c21506a4647e5929ac280\" tg-width=\"640\" tg-height=\"394\" referrerpolicy=\"no-referrer\"/><span>TechStockPros</span></p><h2>Word on Wall Street</h2><p>Wall Street is overwhelmingly buy-rated on the stock. Of 47 analysts covering the stock, 41 are buy-rated, five are hold-rated, and the remaining are sell-rated. The stock is trading at $78. The median and mean price targets are set at $136 and $134, respectively, with a major potential upside of 72-74%.</p><p>The following table outlines BABA&#39;s sell-side ratings and price targets.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c6757746d14d7da37ac3ddb3f61a19fc\" tg-width=\"544\" tg-height=\"272\" referrerpolicy=\"no-referrer\"/><span>TechStockPros</span></p><h2>What to do with the stock</h2><p>Alibaba stock dropped 75% from its high of $317.14 in October 2020. We believe the stock provides an attractive entry point into one of the world&#39;s largest e-commerce and cloud providers at a discount. We expect Alibaba to grow on two fronts: cloud and e-commerce. We believe Alibaba Cloud will benefit from the global shift to the cloud. We&#39;re also constructive on the company&#39;s e-commerce business once consumer weakness and lockdown restrictions in China ease. We recommend investors buy the stock before it rallies.</p><p><i>This article is written by Tech Stock Pros for reference only. Please note the risks.</i></p></body></html>","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>Open Sesame - Alibaba, Buy The Bottom</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOpen Sesame - Alibaba, Buy The Bottom\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-24 20:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4560094-alibaba-stock-buy-bottom><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAlibaba stock is down around 61% over the past five years. We believe the pullback creates an attractive entry point to invest in the company at a discount.We expect continuing COVID-19 ...</p>\n\n<a href=\"https://seekingalpha.com/article/4560094-alibaba-stock-buy-bottom\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://seekingalpha.com/article/4560094-alibaba-stock-buy-bottom","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2285840582","content_text":"SummaryAlibaba stock is down around 61% over the past five years. We believe the pullback creates an attractive entry point to invest in the company at a discount.We expect continuing COVID-19 lockdowns and weaker consumer spending in China to pressure the stock's main source of revenue, China e-commerce.We're constructive on Alibaba as we believe the company's higher-spending consumers will make the stock more resilient even when total buyer numbers decline.We like Alibaba's position in the cloud market, specifically with the Alibaba Cloud growing 4% Y/Y despite macroeconomic headwinds.The stock is cheap, trading at 1.2x C2024 on a P/E basis compared to the peer group average of 17.7x. We recommend investors buy the pullback.maybefalseAlibaba (NYSE:BABA) stock popped around 8% after reporting 2Q23 earnings, despite missing revenue expectations. The Chinese tech and e-commerce giant has had its roughest year since going public, facing pressures from COVID-19 lockdowns, weakening consumer spending, and macroeconomic headwinds. Still, the company stays afloat. Our bullish sentiment on the stock is based on our belief that the worst of the macroeconomic headwinds and lockdown restrictions have been priced in, leaving the company's valuation too attractive to ignore.We recommend investors buy the stock pullback because we believe Alibaba's core fundamentals remain intact. We expect the company to recover and grow meaningfully in CY2023 on the back of Alibaba Cloud and easing lockdown restrictions in China.Headwinds are priced in, for the most partAlibaba has been under significant pressure in its money-making department: China E-commerce. While Alibaba has expanded its business to integrate tech, the company remains a retailer at heart. The devaluation of the yuan currency, alongside the global weakening consumer spending, took a bite out of Alibaba's revenue this past quarter. Alibaba reported revenue of $29B, achieving a 3% Y/Y growth but falling short of expectations by $490M. Despite the 2Q23 earnings report, we believe Alibaba is well-positioned to grow in the e-commerce business in the long run. We believe Alibaba's customer base is more resilient than the market is giving it credit for. While 2Q23 reported a decline in the number of total buyers, we believe the company's Business-to-Business (B2B) model provides Alibaba with high-spending customers that will support sales even during market downtrends. We believe the company is trading cheaply for its position in the e-commerce market in China- with over 60% of the market share in 2021. We believe most of the weak consumer spending and lockdown restriction headwinds have been priced into the stock.The following graph outlines Alibaba's annual revenue distribution between 2018-2022.StatistaThe stock has taken a hit- but we expect e-commerce to recover when 1) global consumer spending picks up and 2) as China eases the COVID-19 lockdown restrictions. The latter has already taken effect with China announcing restrictions are being lifted- despite China reporting that 25,353 individuals tested positive for COVID-19 on Friday. We expect China's 'Zero-COVID' policies to remain uncertain towards the end of the year, but we believe the government is taking measures to fine-tune the restrictions so they do not disrupt business and daily life. We're more constructive on Alibaba's e-commerce business going forward and believe the stock's valuation is too attractive to ignore.Alibaba Cloud is the third-largest cloud providerAlibaba Cloud was the company's second revenue driver in its 2Q23 earnings report, growing 4% Y/Y. Alibaba is expanding its position as a cloud provider investing $1B in a \"global partner ecosystem upgrade.\" The Chinese Cloud provider is now the world's third-largest cloud provider after competitors Amazon (AMZN) and Microsoft (MSFT), with a worldwide market share of 9.5% in 2021, according to Gartner.The following graph outlines Alibaba's position among the top cloud providers globally.GartnerWe like Alibaba's position in the cloud market forecasted to grow at a CAGR of 19.9% between 2022-2029. We expect Alibaba cloud to be at the core of advancing China's digitalization and expect the stock to benefit from the upward trend in the cloud market. The company's cloud business is already growing significantly.The following graph outlines Alibaba Cloud's growth between 2018-2022.StatistaStock PerformanceAlibaba stock is down around 63% over the past five years. YTD, the stock is down almost 35%. YTD, Alibaba is down alongside most of its peer group, with JD.com (JD)(HKG: 9618) dropping nearly 25%, Microsoft (MSFT) almost 28%, and Amazon (AMZN) around 56%. Our bullish thesis on the stock is based on our belief that the stock pullback creates an attractive entry point to invest in the company's 2023 growth.The following graphs outline the company's stock performance over the past five years and YTD compared to the competition.TechStockProsTechStockProsValuationAlibaba is exceptionally cheap, trading at 1.2x C2024 on a P/E basis EPS $66.17 compared to the peer group average of 17.7x. The stock is trading at 0.2x EV/C2024 Sales versus 4.0x. Alibaba's valuation is central to our buy thesis. The stock is down around 44% from its 52-week high of $139, and we believe the company provides an attractive entry point into a major retail and tech company.The following table outlines BABA's valuation compared to the peer group.TechStockProsWord on Wall StreetWall Street is overwhelmingly buy-rated on the stock. Of 47 analysts covering the stock, 41 are buy-rated, five are hold-rated, and the remaining are sell-rated. The stock is trading at $78. The median and mean price targets are set at $136 and $134, respectively, with a major potential upside of 72-74%.The following table outlines BABA's sell-side ratings and price targets.TechStockProsWhat to do with the stockAlibaba stock dropped 75% from its high of $317.14 in October 2020. We believe the stock provides an attractive entry point into one of the world's largest e-commerce and cloud providers at a discount. We expect Alibaba to grow on two fronts: cloud and e-commerce. We believe Alibaba Cloud will benefit from the global shift to the cloud. We're also constructive on the company's e-commerce business once consumer weakness and lockdown restrictions in China ease. We recommend investors buy the stock before it rallies.This article is written by Tech Stock Pros for reference only. Please note the risks.","news_type":1,"symbols_score_info":{"BABA":0.9,"09988":0.9}},"isVote":1,"tweetType":1,"viewCount":3312,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968474496,"gmtCreate":1669308722816,"gmtModify":1676538181781,"author":{"id":"4098789595583910","authorId":"4098789595583910","name":"Lsiang","avatar":"https://static.tigerbbs.com/62eed67ef2903480b12edb04a756fb53","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4098789595583910","authorIdStr":"4098789595583910"},"themes":[],"htmlText":"Okieee","listText":"Okieee","text":"Okieee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9968474496","repostId":"1193359618","repostType":4,"repost":{"id":"1193359618","kind":"news","pubTimestamp":1669293016,"share":"https://ttm.financial/m/news/1193359618?lang=&edition=fundamental","pubTime":"2022-11-24 20:30","market":"us","language":"en","title":"Palantir: I Am Still Not Willing To Gamble","url":"https://stock-news.laohu8.com/highlight/detail?id=1193359618","media":"Seeking Alpha","summary":"SummaryPalantir is still not profitable but reported solid third quarter results and is still growin","content":"<html><head></head><body><h2>Summary</h2><ul><li>Palantir is still not profitable but reported solid third quarter results and is still growing with a healthy pace.</li><li>The company could continue to grow with a high pace in the years to come.</li><li>Stock-based compensations and the resulting dilution of outstanding shares are still discouraging for shareholders.</li><li>Although Palantir&#39;s stock has declined already 80% from its previous all-time high, the stock is still overvalued in my opinion and not a great investment.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a010feafd9264848fea7b7e30ebe25cb\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"/><span>Scott Olson</span></p><p>My first and only article about Palantir Technologies Inc. (NYSE:PLTR) was published in February 2022. At that point, the stock was trading for $14 and although the stock had already declined 67% at that point from its previous all-time highs, I stated thatPalantir was a risky bet. In the meantime, the stock has been cut almost in half again and is now trading about 80% below its previous all-time high. Nevertheless, Palantir is still not a good investment, and I will explain why I am still cautious about the stock.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7dde9d87a6c57be44bdc788e65a9bda1\" tg-width=\"635\" tg-height=\"417\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><h2>Quarterly Results</h2><p>We can start by looking at the third quarter results, which Palantir reported at the beginning of November. And for starters, we must point out that Palantir is still increasing with a solid growth rate while other technology companies are already struggling and are not able to report double-digit revenue growth anymore.</p><p>Revenue in the third quarter increased from $392.1 million in the same quarter last year to $477.9 million in this quarter – resulting in 21.9% year-over-year growth. Loss from operations declined from $91.9 million in Q3/21 to $62.2 million in Q3/22 and although Palantir could improve, the business is still not profitable. But diluted net loss per share increased from $0.05 to a loss of $0.06 in this quarter.</p><p>Additionally, the total customers for Palantir increased from 203 in the same quarter last year to 337 right now – resulting in 66% year-over-year growth. And compared to the previous quarter, Palantir added 33 net new customers.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/775a52ff7988f009fb5679e4a65341e4\" tg-width=\"640\" tg-height=\"358\" referrerpolicy=\"no-referrer\"/><span>Palantir Q3/22 Presentation</span></p><p>During the third quarter of fiscal 2022, Palantir closed 78 deals of at least $1 million with 32 of these deals being at least $5 million and 19 deals were at least $10 million.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/44937fe9eca5417fd0c51facb9d3648f\" tg-width=\"640\" tg-height=\"358\" referrerpolicy=\"no-referrer\"/><span>Palantir Q3/22 Presentation</span></p><p>And when looking at the guidance for fiscal 2022, Palantir is now expecting $1.9 billion to $1.902 billion in revenue. Palantir raised its guidance and is now expecting an adjusted income from operations to be between $384 million to $386 million.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/54098b8b48757becfeea0894faab6e65\" tg-width=\"640\" tg-height=\"359\" referrerpolicy=\"no-referrer\"/><span>Palantir Q3/22 Presentation</span></p><h2>Growth Opportunities In Challenging Times</h2><p>But despite the raised guidance, when listening to Alexander Karp during the earnings calls or in interviews, he is seeing difficult times ahead. During the last earnings call, Alexander Karp made the following statement:</p><blockquote>By the way, that&#39;s why we prepared and then that&#39;s the technical thing. Why do we have 8 quarters of free cash flow? Do you think it&#39;s a coincidence, we were preparing for this. We have -- why do we have $2.4 billion in the bank and no debt? We weren&#39;t living in the metasphere. We were living in this world in the way we thought it would be -- and we&#39;ve been essentially -- you could even look at this as a prep. We&#39;re a prepper company. We&#39;ve been preparing it&#39;s like -- preppers have their rucksack and a rifle. We have PG, GAIA, Foundry and $2.4 billion in the bank and no debt. That&#39;s our company.</blockquote><p>And when looking at the balance sheet, Palantir is positioned quite well. On September 30, 2022, the company had $2,411 million in cash and cash equivalents as well as $57 million in short-term marketable securities. And aside from having no debt on the balance sheet, the company also has no goodwill on its balance sheet. In case of Palantir, 74% of its $3,319 million in total assets are highly liquid assets (cash, cash equivalents and marketable securities), which is good in case of crisis.</p><p>But not only is Palantir prepared for challenging times due to a solid balance sheet, Alexander Karp is also expecting the company to profit from the uncertain times ahead. During an interview with CNBC at the end of September, he made the following statement:</p><blockquote>Bad times are incredibly good for Palantir... bad times really uncover the durable companies, and tech is going through bad times... interest rates are the reason.</blockquote><p>Karp also states that Palantir’s software is at war – in Europe and around the world. And he sees the software as a way for nations to impose and defend their values. And Karp sees great growth potential in the years ahead – not only because Palantir might profit from bad times:</p><blockquote>We recognize that our path to growth is not always linear, but with the opportunity that lies ahead, we continue to recruit and retain the top talent at a time when other companies in the technology sector are slashing their plans and cutting workforces.</blockquote><blockquote>We have spent the last 2 decades building our products for the world in which we actually live. The disruption and uncertainty that we&#39;re seeing around us from Ukraine, the pandemic and inflation, it&#39;s driving customers towards us and to our software.</blockquote><p>In the second quarter earnings call, Alexander Karp said his ambition was to drive the company to $4.5 billion in revenue in 2025. In the same earnings call, Karp also expected that Palantir will finally be profitable in 2025. And of course, it is not unreasonable for Palantir to expect high growth rates. In its Form S-1. Palantir wrote its total addressable market [TAM] should be approximately $119 billion with the commercial sector being around $56 billion and the government sector being around $63 billion. This TAM is excluding institutions and countries where Palantir has chosen not to sell its software.</p><p>This seems to be in line with the expectations of other studies. And not only has Palantir a market share of only around 2% right now – giving the company enough room to grow by gaining market shares. Different studies are also expecting growth rates in the double digits for the market. When looking at the advanced analytics market, some expect even a CAGR above 20% in the years to come.</p><p>And during the last earnings call, Alexander Karp also pointed out where he is seeing the huge competitive advantage of Palantir – especially compared to peers like Microsoft (MSFT) or Snowflake (SNOW):</p><blockquote>The answer is really the ontology. It&#39;s why our platforms remain far ahead of the competition. And that&#39;s because the ontology, it&#39;s the missing link in terms of what you need to realize value from all of these investments. It&#39;s the component and the architecture that&#39;s required to get data apps to actually deliver value on top of cloud data warehouses or to get AI to scale throughout the enterprise or to turn your digital twin into something that&#39;s actionable and operational within the enterprise. And we&#39;ve spent 15 years investing in a road map that&#39;s deep and built upon the ontology, and it continues to be the focus of all the core investments that we&#39;re making around product.</blockquote><h2>Reservation Against Palantir</h2><p>But despite the competitive advantage Karp sees for Palantir in the years to come, the business is also facing risks in its path toward growth. In his last letter to shareholders, Alexander Karp wrote:</p><blockquote>It has been our experience, however, that some countries, particularly in continental Europe, including Germany, have fallen behind the United States in their willingness and ability to implement enterprise software systems that challenge existing habits and modes of operation.</blockquote><blockquote>There have been repeated attempts to build replicas of Silicon Valley in continental Europe, in Germany and elsewhere, but the results have been decidedly mixed.</blockquote><blockquote>We have found that large institutions in the United States have been far more willing to investigate the most significant sources of systemic dysfunction within their organizations, which in the current moment often relate to the ability or rather inability of an institution to metabolize its own data.</blockquote><p>And this is an aspect that should certainly not be underestimated for Palantir’s ambitions to grow in the years to come. And from a German perspective I think Karp is correct in his assessment of people living here (as well as institutions) having strong reservations against Palantir.</p><h2>Stock-Based Compensation Leading To Dilution</h2><p>Not only is the business facing several risks, but shareholders are also facing risks by owning the stock right now. And one huge risk shareholders are facing is the stock-based compensation which is leading to a constant dilution of shares and in the last few quarters, the number of outstanding shares increased with a high pace. Right now, we have 2,073 million outstanding shares compared to 1,964 million one year earlier and 1,763 million after the IPO of Palantir. This is resulting in an increase of almost 18% in less than two years and in my opinion, this is not a good sign for investors. And finally, this dilution has a huge negative impact on the intrinsic value of Palantir.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ba9fe6b4274d2704f89363d89bcddb6a\" tg-width=\"635\" tg-height=\"435\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p>Of course, stock-based compensations can also have a positive side as it is a good way to get great talent for the business and employees, that are behind the company and the company’s goals (as they are also profiting from a thriving business resulting in a higher share price). And this can certainly have a positive effect on the business in the long run. However, diluted in the high single digits annually is extreme – even for a company growing with a high pace.</p><h2>Intrinsic Value Calculation</h2><p>A final risk for shareholders is simply overpaying for a stock that is not worth what it is currently trading for.</p><p>We can start by looking at simple valuation metrics – especially the price-free-cash-flow ratio as well as the price-sales ratio. Looking at the price-earnings ratio doesn’t make much sense as the metric is negative. Of course, the price-sales ratio declined over the last year, but Palantir is still trading for 9 times sales which is certainly not cheap. When looking at the S&amp;P 500 (SPY), there are only about 45 companies trading with a higher price-sales ratio. And the median P/S ratio of the S&amp;P 500 is 2.72 at the time of writing. And even when looking at technology stocks (according to Finviz; market cap above $2 billion), the median P/S ratio is 4.41. But as long as we are talking about price-sales ratios we also have to point out that Snowflake is trading for 28 times sales right now and compared to these valuation multiples, Palantir’s valuation seems to be quite reasonable.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/38f5a49a57b61fa9fbd749ed81950b1d\" tg-width=\"635\" tg-height=\"447\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p>When looking at the price-free-cash-flow ratio, Palantir is trading for a multiple of 84. Although this is below the 2021 P/FCF peak of 750 and below the average of 227, Palantir is still trading for extremely high valuation multiples (and usually even high growth rates can’t justify valuation multiples close to 100). And once again, we can point out that Snowflake is trading for a P/FCF ratio of 155 – twice as high as Palantir.</p><p>When using a discount cash flow calculation, we can take the free cash flow of the last four quarters as basis. But let’s be more optimistic and use the highest free cash flow Palantir could report so far ($320 million in free cash flow). When taking this amount as basis and assume 6% growth till perpetuity (like we always do with high quality businesses) the company must grow its free cash flow about 17% annually for the next ten years to be fairly valued (assuming 2,073 million outstanding shares and a 10% discount rate).</p><p>I would not say such growth rates are impossible for a company – we can find several examples of businesses growing with such a CAGR over 10 years or even longer. But 17% growth for 10 years would probably be one of the highest growth rates I ever used in an intrinsic value calculation just to reach fair value for a stock. And these calculations are assuming no further dilution of shares, which seems rather unlikely at this point. In the last two years, the company has been diluting in the high single digits and to set dilution off, Palantir rather must grow its free cash flow about 25% annually to be fairly valued for the next few years. And 25% growth is also not impossible but no growth rate I would use in any way (in my opinion, this would be investing based on hope).</p><h2>Conclusion</h2><p>Although the stock price is now more than 40% lower than when my last article was published, I am afraid the conclusion must be the same. The stock is still not fairly valued and not a great investment. With thousands of other stocks being available and us being able to identify at least 100 high-quality businesses with a wide economic moat, I don’t see any reason to bet on Palantir. A company where it is difficult to estimate the growth potential and where the huge stock-based compensations and resulting stock dilutions are offsetting to any investor. And the potential high growth potential Palantir could have is not enough at this point to bet on Palantir.</p><p><i>This article is written by Daniel Schönberger for reference only. Please note the risks.</i></p></body></html>","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>Palantir: I Am Still Not Willing To Gamble</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir: I Am Still Not Willing To Gamble\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-24 20:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4560037-palantir-pltr-still-overvalued><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryPalantir is still not profitable but reported solid third quarter results and is still growing with a healthy pace.The company could continue to grow with a high pace in the years to come.Stock...</p>\n\n<a href=\"https://seekingalpha.com/article/4560037-palantir-pltr-still-overvalued\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4560037-palantir-pltr-still-overvalued","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193359618","content_text":"SummaryPalantir is still not profitable but reported solid third quarter results and is still growing with a healthy pace.The company could continue to grow with a high pace in the years to come.Stock-based compensations and the resulting dilution of outstanding shares are still discouraging for shareholders.Although Palantir's stock has declined already 80% from its previous all-time high, the stock is still overvalued in my opinion and not a great investment.Scott OlsonMy first and only article about Palantir Technologies Inc. (NYSE:PLTR) was published in February 2022. At that point, the stock was trading for $14 and although the stock had already declined 67% at that point from its previous all-time highs, I stated thatPalantir was a risky bet. In the meantime, the stock has been cut almost in half again and is now trading about 80% below its previous all-time high. Nevertheless, Palantir is still not a good investment, and I will explain why I am still cautious about the stock.Data by YChartsQuarterly ResultsWe can start by looking at the third quarter results, which Palantir reported at the beginning of November. And for starters, we must point out that Palantir is still increasing with a solid growth rate while other technology companies are already struggling and are not able to report double-digit revenue growth anymore.Revenue in the third quarter increased from $392.1 million in the same quarter last year to $477.9 million in this quarter – resulting in 21.9% year-over-year growth. Loss from operations declined from $91.9 million in Q3/21 to $62.2 million in Q3/22 and although Palantir could improve, the business is still not profitable. But diluted net loss per share increased from $0.05 to a loss of $0.06 in this quarter.Additionally, the total customers for Palantir increased from 203 in the same quarter last year to 337 right now – resulting in 66% year-over-year growth. And compared to the previous quarter, Palantir added 33 net new customers.Palantir Q3/22 PresentationDuring the third quarter of fiscal 2022, Palantir closed 78 deals of at least $1 million with 32 of these deals being at least $5 million and 19 deals were at least $10 million.Palantir Q3/22 PresentationAnd when looking at the guidance for fiscal 2022, Palantir is now expecting $1.9 billion to $1.902 billion in revenue. Palantir raised its guidance and is now expecting an adjusted income from operations to be between $384 million to $386 million.Palantir Q3/22 PresentationGrowth Opportunities In Challenging TimesBut despite the raised guidance, when listening to Alexander Karp during the earnings calls or in interviews, he is seeing difficult times ahead. During the last earnings call, Alexander Karp made the following statement:By the way, that's why we prepared and then that's the technical thing. Why do we have 8 quarters of free cash flow? Do you think it's a coincidence, we were preparing for this. We have -- why do we have $2.4 billion in the bank and no debt? We weren't living in the metasphere. We were living in this world in the way we thought it would be -- and we've been essentially -- you could even look at this as a prep. We're a prepper company. We've been preparing it's like -- preppers have their rucksack and a rifle. We have PG, GAIA, Foundry and $2.4 billion in the bank and no debt. That's our company.And when looking at the balance sheet, Palantir is positioned quite well. On September 30, 2022, the company had $2,411 million in cash and cash equivalents as well as $57 million in short-term marketable securities. And aside from having no debt on the balance sheet, the company also has no goodwill on its balance sheet. In case of Palantir, 74% of its $3,319 million in total assets are highly liquid assets (cash, cash equivalents and marketable securities), which is good in case of crisis.But not only is Palantir prepared for challenging times due to a solid balance sheet, Alexander Karp is also expecting the company to profit from the uncertain times ahead. During an interview with CNBC at the end of September, he made the following statement:Bad times are incredibly good for Palantir... bad times really uncover the durable companies, and tech is going through bad times... interest rates are the reason.Karp also states that Palantir’s software is at war – in Europe and around the world. And he sees the software as a way for nations to impose and defend their values. And Karp sees great growth potential in the years ahead – not only because Palantir might profit from bad times:We recognize that our path to growth is not always linear, but with the opportunity that lies ahead, we continue to recruit and retain the top talent at a time when other companies in the technology sector are slashing their plans and cutting workforces.We have spent the last 2 decades building our products for the world in which we actually live. The disruption and uncertainty that we're seeing around us from Ukraine, the pandemic and inflation, it's driving customers towards us and to our software.In the second quarter earnings call, Alexander Karp said his ambition was to drive the company to $4.5 billion in revenue in 2025. In the same earnings call, Karp also expected that Palantir will finally be profitable in 2025. And of course, it is not unreasonable for Palantir to expect high growth rates. In its Form S-1. Palantir wrote its total addressable market [TAM] should be approximately $119 billion with the commercial sector being around $56 billion and the government sector being around $63 billion. This TAM is excluding institutions and countries where Palantir has chosen not to sell its software.This seems to be in line with the expectations of other studies. And not only has Palantir a market share of only around 2% right now – giving the company enough room to grow by gaining market shares. Different studies are also expecting growth rates in the double digits for the market. When looking at the advanced analytics market, some expect even a CAGR above 20% in the years to come.And during the last earnings call, Alexander Karp also pointed out where he is seeing the huge competitive advantage of Palantir – especially compared to peers like Microsoft (MSFT) or Snowflake (SNOW):The answer is really the ontology. It's why our platforms remain far ahead of the competition. And that's because the ontology, it's the missing link in terms of what you need to realize value from all of these investments. It's the component and the architecture that's required to get data apps to actually deliver value on top of cloud data warehouses or to get AI to scale throughout the enterprise or to turn your digital twin into something that's actionable and operational within the enterprise. And we've spent 15 years investing in a road map that's deep and built upon the ontology, and it continues to be the focus of all the core investments that we're making around product.Reservation Against PalantirBut despite the competitive advantage Karp sees for Palantir in the years to come, the business is also facing risks in its path toward growth. In his last letter to shareholders, Alexander Karp wrote:It has been our experience, however, that some countries, particularly in continental Europe, including Germany, have fallen behind the United States in their willingness and ability to implement enterprise software systems that challenge existing habits and modes of operation.There have been repeated attempts to build replicas of Silicon Valley in continental Europe, in Germany and elsewhere, but the results have been decidedly mixed.We have found that large institutions in the United States have been far more willing to investigate the most significant sources of systemic dysfunction within their organizations, which in the current moment often relate to the ability or rather inability of an institution to metabolize its own data.And this is an aspect that should certainly not be underestimated for Palantir’s ambitions to grow in the years to come. And from a German perspective I think Karp is correct in his assessment of people living here (as well as institutions) having strong reservations against Palantir.Stock-Based Compensation Leading To DilutionNot only is the business facing several risks, but shareholders are also facing risks by owning the stock right now. And one huge risk shareholders are facing is the stock-based compensation which is leading to a constant dilution of shares and in the last few quarters, the number of outstanding shares increased with a high pace. Right now, we have 2,073 million outstanding shares compared to 1,964 million one year earlier and 1,763 million after the IPO of Palantir. This is resulting in an increase of almost 18% in less than two years and in my opinion, this is not a good sign for investors. And finally, this dilution has a huge negative impact on the intrinsic value of Palantir.Data by YChartsOf course, stock-based compensations can also have a positive side as it is a good way to get great talent for the business and employees, that are behind the company and the company’s goals (as they are also profiting from a thriving business resulting in a higher share price). And this can certainly have a positive effect on the business in the long run. However, diluted in the high single digits annually is extreme – even for a company growing with a high pace.Intrinsic Value CalculationA final risk for shareholders is simply overpaying for a stock that is not worth what it is currently trading for.We can start by looking at simple valuation metrics – especially the price-free-cash-flow ratio as well as the price-sales ratio. Looking at the price-earnings ratio doesn’t make much sense as the metric is negative. Of course, the price-sales ratio declined over the last year, but Palantir is still trading for 9 times sales which is certainly not cheap. When looking at the S&P 500 (SPY), there are only about 45 companies trading with a higher price-sales ratio. And the median P/S ratio of the S&P 500 is 2.72 at the time of writing. And even when looking at technology stocks (according to Finviz; market cap above $2 billion), the median P/S ratio is 4.41. But as long as we are talking about price-sales ratios we also have to point out that Snowflake is trading for 28 times sales right now and compared to these valuation multiples, Palantir’s valuation seems to be quite reasonable.Data by YChartsWhen looking at the price-free-cash-flow ratio, Palantir is trading for a multiple of 84. Although this is below the 2021 P/FCF peak of 750 and below the average of 227, Palantir is still trading for extremely high valuation multiples (and usually even high growth rates can’t justify valuation multiples close to 100). And once again, we can point out that Snowflake is trading for a P/FCF ratio of 155 – twice as high as Palantir.When using a discount cash flow calculation, we can take the free cash flow of the last four quarters as basis. But let’s be more optimistic and use the highest free cash flow Palantir could report so far ($320 million in free cash flow). When taking this amount as basis and assume 6% growth till perpetuity (like we always do with high quality businesses) the company must grow its free cash flow about 17% annually for the next ten years to be fairly valued (assuming 2,073 million outstanding shares and a 10% discount rate).I would not say such growth rates are impossible for a company – we can find several examples of businesses growing with such a CAGR over 10 years or even longer. But 17% growth for 10 years would probably be one of the highest growth rates I ever used in an intrinsic value calculation just to reach fair value for a stock. And these calculations are assuming no further dilution of shares, which seems rather unlikely at this point. In the last two years, the company has been diluting in the high single digits and to set dilution off, Palantir rather must grow its free cash flow about 25% annually to be fairly valued for the next few years. And 25% growth is also not impossible but no growth rate I would use in any way (in my opinion, this would be investing based on hope).ConclusionAlthough the stock price is now more than 40% lower than when my last article was published, I am afraid the conclusion must be the same. The stock is still not fairly valued and not a great investment. With thousands of other stocks being available and us being able to identify at least 100 high-quality businesses with a wide economic moat, I don’t see any reason to bet on Palantir. A company where it is difficult to estimate the growth potential and where the huge stock-based compensations and resulting stock dilutions are offsetting to any investor. And the potential high growth potential Palantir could have is not enough at this point to bet on Palantir.This article is written by Daniel Schönberger for reference only. Please note the risks.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":3121,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968324182,"gmtCreate":1669139261746,"gmtModify":1676538157198,"author":{"id":"4098789595583910","authorId":"4098789595583910","name":"Lsiang","avatar":"https://static.tigerbbs.com/62eed67ef2903480b12edb04a756fb53","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4098789595583910","authorIdStr":"4098789595583910"},"themes":[],"htmlText":"Thanksss","listText":"Thanksss","text":"Thanksss","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968324182","repostId":"2285386886","repostType":4,"repost":{"id":"2285386886","kind":"news","pubTimestamp":1669104486,"share":"https://ttm.financial/m/news/2285386886?lang=&edition=fundamental","pubTime":"2022-11-22 16:08","market":"us","language":"en","title":"Apple And Taiwan Semiconductor: Let's Ask Buffett","url":"https://stock-news.laohu8.com/highlight/detail?id=2285386886","media":"Seeking Alpha","summary":"SummaryAs a long-time Buffett cultist, I understand (not to say I am able to anticipate) most of his","content":"<html><head></head><body><h2>Summary</h2><ul><li>As a long-time Buffett cultist, I understand (not to say I am able to anticipate) most of his stock choices.</li><li>But from time to time, some of his choices still come as a surprise and his recent position in Taiwan Semiconductor is a notable example.</li><li>The choice is even more puzzling when viewed under the context of his largest holding, Apple.</li><li>There are certainly positives with Taiwan Semiconductor, that is, even when compared to Apple.</li><li>However, I see these positives easily overshadowed by the developing tension between them, which produces mutual but asymmetric damage.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/511f126f81b7dac4ef1687fe1d622bbe\" tg-width=\"1080\" tg-height=\"719\" referrerpolicy=\"no-referrer\"/><span>Jamie McCarthy</span></p><h2>The investment thesis</h2><p>As a long-time Buffett cultist, I feel comfortable saying that I understand most of his investment choices. But occasionally, the grandmaster still manages to make a move that surprises me such as his recent position in TaiwanSemiconductor (NYSE:TSM). To wit, the recent 13F disclosure showed that Buffett opened a sizable position in TSM for the Berkshire Hathaway (BRK.A) (BRK.B) equity portfolio. As you can see from the following chart, his BRK portfolio now holds more than 60.06M shares of TSM with a total worth of over $4.11B. The TSM position is currently the 10thlargest position in the BRK portfolio.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79878ff126c58641fbbd5a5aa3c0b334\" tg-width=\"640\" tg-height=\"363\" referrerpolicy=\"no-referrer\"/><span>Source: Dataroma.com</span></p><p>The surprise comes in several ways. And the more obvious ways (like Buffett’s allergy to tech businesses) have already been discussed by several other SA authors and I won’t further add to it anymore. Here, I want to explore an angle that is less discussed so far. I want to explain why it feels more puzzling to me, that is besides the fact that Buffett added another tech name to his BRK portfolio, when the TSM position is viewed under the context of his largest holding, Apple (NASDAQ:AAPL). There are certainly positives with TSM, that is, even when compared to AAPL. As we will detail in the next section, it is a high-quality stock in its own right. It boasts a large technological lead in its space and an R&amp;D yield that is even better than AAPL.</p><p>However, I see these positives easily overshadowed by the developing tension between them and also the ongoing deglobalization mega-trend. According to a recentnews report, TSM’s scheduled price raises in 2023 were rejected by AAPL, by far its largest customer. AAPL currently outsources almost all of its processor manufacturing to factories in Taiwan. However, with the U.S. strategic initiatives to push to develop domestic semiconductor foundry capabilities, AAPL (and other U.S. chip players such Advanced Micro Devices (AMD) and NVIDIA (NVDA) too) would be very likely to diversify its chip manufacturing away from TSM. And the damage will be mutual but asymmetric. It is easier for AAPL to find other foundry services to manufacture its chips, and a lot harder for TSM to find such large clients as AAPL.</p><p>The full impact of such tension and diversification will take time to fully manifest. And TSM’s role as the dominating high-end chipmaker in the world won’t change in the near term. But I see these recent events (such as AAPL’s rejection of the price raises and the recent passing of the CHIPS act) as the turning point. Taking a broader view, I see these events as a logical step, or even an inevitable step, in the deglobalization process – a mega force that has been unfolding for over 10 years as shown in the chart below. The chart illustrates how globalization, measured as the percentage of total exports out of global GDP, has been in decline since its peak in 2008. The percentage has declined from 61% in 2008 to the to 51.6% in 2020. And since 2020, the China-U.S. trade tension, the COVID, and the Russian/Ukraine war have further quickened its pace.</p><p>In the remainder of this article, I will further analyze the details of these above considerations in more detail.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df9d37af226f63d9047697f699ffa010\" tg-width=\"640\" tg-height=\"527\" referrerpolicy=\"no-referrer\"/><span>Source: The World Bank</span></p><h2>TSM’s valuation advantage</h2><p>First, as mentioned above, there are definitely many positives with TSM even when compared to AAPL. And valuation is an obvious place to start with. As a global leader in the foundry space, it is for sale at a fraction of the overall market and AAPL’s valuation as seen in the chart below.</p><p>To cite a few examples, TSM’s FY1 PE of 12.8x is almost only 1/2 of AAPL’s 24.2x. Its TTM PE of 13.08x is also about only 1/2 of AAPL’s 24.2x. Considering that these stocks have different leverages and enterprise values (“EV”), let&#39;s compare their multiples with leverages adjusted too. As you can see, TSM’s discount is even more dramatic in terms of EV/EBITDA multiples. TSM’s FW EV/EBITDA ratio sits at 7.64x only, less than ½ of AAPL’s 18.18x.</p><p>Yes, as you will see in the next section, TSM is a high-quality stock in its own right. It boasts a large technological lead in its space, further bolstered by its consistent R&amp;D investments and also superb R&amp;D yield that even surpasses AAPL.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cd9101b641f06753dca5fee60c5e18ff\" tg-width=\"640\" tg-height=\"496\" referrerpolicy=\"no-referrer\"/><span>Source: Seeking Alpha data</span></p><h2>TSM’s more consistent and aggressive R&amp;D</h2><p>As detailed in our earlier articles:</p><blockquote><i>We do not invest in a given tech stock because we have high confidence in a certain product that they are developing in the pipeline. Instead, we feel more comfortable betting on A) the recurring resources available to fund new R&amp;D efforts sustainably, and B) the overall efficiency of the R&amp;D PROCESS. So correspondingly, in the long run, I feel comfortable as long as a tech business can A) sustainably support new R&amp;D expenditures, and B) has demonstrated a consistent R&amp;D yield. I do not feel the need to particularly bet on any one of the new products to be a hit (or a complete failure).</i></blockquote><p>And both TSM and AAPL can sustainably fund their new R&amp;D efforts with no problem in the long term, as illustrated in the next chart. It shows their R&amp;D expenses over the past 10 years as a percentage of their total sales. A few key observations:</p><ul><li>TSM has been investing very consistently in R&amp;D efforts, on average about 8.0% of its total sales.</li><li>AAPL&#39;s R&amp;D expenses have been climbing since Tim Cook took over the company from Jobs. Jobs believed that innovation is not about money and it &#34;has nothing to do with how much R&amp;D money” a business put in. Then Cook gradually increased the R&amp;D investments to the current level of around 6.1% since 2018.</li><li>So even at AAPL’s current R&amp;D level, TSM is still outspending AAPL by about 200 basis points. And also note TSM’s consistency: the R&amp;D expenses only fluctuated in a very narrow range over the past 10 years.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/68ba62925d409c0646d95b62223ef4b9\" tg-width=\"640\" tg-height=\"355\" referrerpolicy=\"no-referrer\"/><span>Source: Author</span></p><p>More impressively, TSM’s yield on the R&amp;D investment is also superior to AAPL, which is already at a remarkable level by itself as shown in the next chart. The chart used Buffett’s $1 test on R&amp;D expenses. More specifically, the chart quantifies the R&amp;D yield by taking the ratio between profit and R&amp;D expenditures. Thus, the results show how many dollars of profit are generated per $1 of R&amp;D expenses. In particular, in this chart, my analysis used the operating cash flow (“OPC”) as the profit and also took a 3-year moving average on the OPC to approximate a 3-year R&amp;D cycle. And the key observations are:</p><ul><li>The R&amp;D yield is also consistent for TSM, with an average of $6.75 since 2014.</li><li>AAPL’s picture is a bit more colorful. Its R&amp;D yield has been astronomical ($10+ in 2013 and $8+ in 2014 and 2015) thanks to its almost monopoly status in key market segments in those days. Its R&amp;D yield has gradually declined to around ~$4.0 in recent years. And its long-term average was about $5.3.</li><li>To provide a broader view, the FAAMG group features an average R&amp;D yield of ~$2.5 in recent years.</li><li>Thus, both AAPL and TSM boast superb R&amp;D yields even when compared to the overachievers in the FAAMG pack, and TSM’s yield is even higher than AAPL by a large gap.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/72e8c1b1427c0babf39d38ec60269d28\" tg-width=\"640\" tg-height=\"340\" referrerpolicy=\"no-referrer\"/><span>Source: Author based on Seeking Alpha data</span></p><h2>Both enjoy high ROCE too, but AAPL is in its own category</h2><p>To me, ROCE (return on capital employed) is the most fundamental profitability metric as detailed in my blog article (with differences compared to ROE and Q&amp;A on the most frequently received questions from our readers). One key reason for its fundamental importance is that the long-term growth rate is governed by ROCE and reinvestment rate (“RR”) in the following simple way:</p><p>Long-Term Growth Rate = ROCE * RR</p><p>The ROCE of TSM and AAPL are shown below for the past 10 years. As you can see, TSM has been maintaining a high ROCE with remarkable consistency here. Its average ROCE has been about 42%. And I cannot overemphasize the consistency – which is a strong indicator of its stable moat. However, AAPL certainly has the upper hand here. Its ROCE is simply a category of its own. It has been hovering around an average of 125% since 2018 after its “declines” from an astronomical (and also unsustainable level in my view) of 200%+ earlier in the decade.</p><p>In terms of RR, both companies have sustainable capital allocation flexibility thanks to their strong cash generation. All told, my analysis shows that TSM has been maintaining an RR in the range between 7.5% to 10% in recent years, and AAPL about 5% to 7.5%.</p><p>So even without the trade tensions and deglobalization process aforementioned, I would project AAPL to have a much better perpetual growth curve ahead than TSM. I projected AAPL’s LT growth rate to be up to 10% (7.5% RR * 125% ROCE ~ 10% annual growth rate). And TSM’s growth rate, on the hand, would be limited to be in the mid-single digit range (say 4% = 10% RR * 42% ROCE).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/98b3ddd710705df7ba8e09cb93f9b81a\" tg-width=\"640\" tg-height=\"334\" referrerpolicy=\"no-referrer\"/><span>Source: Author based on Seeking Alpha data</span></p><h2>Risks and final thought</h2><p>But to reiterate, I do see the developing tension between TSM and AAPL and the deglobalization process as the overarching forces here. And I only see the differences in terms of valuation, R&amp;D yields, and profitability to be secondary forces in the years to come. The deglobalization mega-trend has been unfolding since 2008. And I see a series of recent events (such as AAPL’s rejection of TSM’s price raises, the CHIPS act, the ongoing U.S.-China trade frictions, and also the Russian/Ukraine war) to further exacerbate and accelerate the trend. Under such a mega-trend, I see it as inevitable that key chip clients (such as AAPL, AMD, and NVDA) diversify their manufacturing needs away from TSM.</p><p>And the bottom line is that damage will be mutual but asymmetric the way I see things. It is easier for AAPL to find replacement foundry services but a lot harder for TSM to find replacement clients at the scale of AAPL.</p><p><i>This article is written by Envision Research for reference only. Please note the risks.</i></p></body></html>","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 And Taiwan Semiconductor: Let's Ask Buffett</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple And Taiwan Semiconductor: Let's Ask Buffett\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-22 16:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4559717-apple-and-taiwan-semiconductor-ask-buffett><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAs a long-time Buffett cultist, I understand (not to say I am able to anticipate) most of his stock choices.But from time to time, some of his choices still come as a surprise and his recent ...</p>\n\n<a href=\"https://seekingalpha.com/article/4559717-apple-and-taiwan-semiconductor-ask-buffett\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","TSM":"台积电"},"source_url":"https://seekingalpha.com/article/4559717-apple-and-taiwan-semiconductor-ask-buffett","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2285386886","content_text":"SummaryAs a long-time Buffett cultist, I understand (not to say I am able to anticipate) most of his stock choices.But from time to time, some of his choices still come as a surprise and his recent position in Taiwan Semiconductor is a notable example.The choice is even more puzzling when viewed under the context of his largest holding, Apple.There are certainly positives with Taiwan Semiconductor, that is, even when compared to Apple.However, I see these positives easily overshadowed by the developing tension between them, which produces mutual but asymmetric damage.Jamie McCarthyThe investment thesisAs a long-time Buffett cultist, I feel comfortable saying that I understand most of his investment choices. But occasionally, the grandmaster still manages to make a move that surprises me such as his recent position in TaiwanSemiconductor (NYSE:TSM). To wit, the recent 13F disclosure showed that Buffett opened a sizable position in TSM for the Berkshire Hathaway (BRK.A) (BRK.B) equity portfolio. As you can see from the following chart, his BRK portfolio now holds more than 60.06M shares of TSM with a total worth of over $4.11B. The TSM position is currently the 10thlargest position in the BRK portfolio.Source: Dataroma.comThe surprise comes in several ways. And the more obvious ways (like Buffett’s allergy to tech businesses) have already been discussed by several other SA authors and I won’t further add to it anymore. Here, I want to explore an angle that is less discussed so far. I want to explain why it feels more puzzling to me, that is besides the fact that Buffett added another tech name to his BRK portfolio, when the TSM position is viewed under the context of his largest holding, Apple (NASDAQ:AAPL). There are certainly positives with TSM, that is, even when compared to AAPL. As we will detail in the next section, it is a high-quality stock in its own right. It boasts a large technological lead in its space and an R&D yield that is even better than AAPL.However, I see these positives easily overshadowed by the developing tension between them and also the ongoing deglobalization mega-trend. According to a recentnews report, TSM’s scheduled price raises in 2023 were rejected by AAPL, by far its largest customer. AAPL currently outsources almost all of its processor manufacturing to factories in Taiwan. However, with the U.S. strategic initiatives to push to develop domestic semiconductor foundry capabilities, AAPL (and other U.S. chip players such Advanced Micro Devices (AMD) and NVIDIA (NVDA) too) would be very likely to diversify its chip manufacturing away from TSM. And the damage will be mutual but asymmetric. It is easier for AAPL to find other foundry services to manufacture its chips, and a lot harder for TSM to find such large clients as AAPL.The full impact of such tension and diversification will take time to fully manifest. And TSM’s role as the dominating high-end chipmaker in the world won’t change in the near term. But I see these recent events (such as AAPL’s rejection of the price raises and the recent passing of the CHIPS act) as the turning point. Taking a broader view, I see these events as a logical step, or even an inevitable step, in the deglobalization process – a mega force that has been unfolding for over 10 years as shown in the chart below. The chart illustrates how globalization, measured as the percentage of total exports out of global GDP, has been in decline since its peak in 2008. The percentage has declined from 61% in 2008 to the to 51.6% in 2020. And since 2020, the China-U.S. trade tension, the COVID, and the Russian/Ukraine war have further quickened its pace.In the remainder of this article, I will further analyze the details of these above considerations in more detail.Source: The World BankTSM’s valuation advantageFirst, as mentioned above, there are definitely many positives with TSM even when compared to AAPL. And valuation is an obvious place to start with. As a global leader in the foundry space, it is for sale at a fraction of the overall market and AAPL’s valuation as seen in the chart below.To cite a few examples, TSM’s FY1 PE of 12.8x is almost only 1/2 of AAPL’s 24.2x. Its TTM PE of 13.08x is also about only 1/2 of AAPL’s 24.2x. Considering that these stocks have different leverages and enterprise values (“EV”), let's compare their multiples with leverages adjusted too. As you can see, TSM’s discount is even more dramatic in terms of EV/EBITDA multiples. TSM’s FW EV/EBITDA ratio sits at 7.64x only, less than ½ of AAPL’s 18.18x.Yes, as you will see in the next section, TSM is a high-quality stock in its own right. It boasts a large technological lead in its space, further bolstered by its consistent R&D investments and also superb R&D yield that even surpasses AAPL.Source: Seeking Alpha dataTSM’s more consistent and aggressive R&DAs detailed in our earlier articles:We do not invest in a given tech stock because we have high confidence in a certain product that they are developing in the pipeline. Instead, we feel more comfortable betting on A) the recurring resources available to fund new R&D efforts sustainably, and B) the overall efficiency of the R&D PROCESS. So correspondingly, in the long run, I feel comfortable as long as a tech business can A) sustainably support new R&D expenditures, and B) has demonstrated a consistent R&D yield. I do not feel the need to particularly bet on any one of the new products to be a hit (or a complete failure).And both TSM and AAPL can sustainably fund their new R&D efforts with no problem in the long term, as illustrated in the next chart. It shows their R&D expenses over the past 10 years as a percentage of their total sales. A few key observations:TSM has been investing very consistently in R&D efforts, on average about 8.0% of its total sales.AAPL's R&D expenses have been climbing since Tim Cook took over the company from Jobs. Jobs believed that innovation is not about money and it \"has nothing to do with how much R&D money” a business put in. Then Cook gradually increased the R&D investments to the current level of around 6.1% since 2018.So even at AAPL’s current R&D level, TSM is still outspending AAPL by about 200 basis points. And also note TSM’s consistency: the R&D expenses only fluctuated in a very narrow range over the past 10 years.Source: AuthorMore impressively, TSM’s yield on the R&D investment is also superior to AAPL, which is already at a remarkable level by itself as shown in the next chart. The chart used Buffett’s $1 test on R&D expenses. More specifically, the chart quantifies the R&D yield by taking the ratio between profit and R&D expenditures. Thus, the results show how many dollars of profit are generated per $1 of R&D expenses. In particular, in this chart, my analysis used the operating cash flow (“OPC”) as the profit and also took a 3-year moving average on the OPC to approximate a 3-year R&D cycle. And the key observations are:The R&D yield is also consistent for TSM, with an average of $6.75 since 2014.AAPL’s picture is a bit more colorful. Its R&D yield has been astronomical ($10+ in 2013 and $8+ in 2014 and 2015) thanks to its almost monopoly status in key market segments in those days. Its R&D yield has gradually declined to around ~$4.0 in recent years. And its long-term average was about $5.3.To provide a broader view, the FAAMG group features an average R&D yield of ~$2.5 in recent years.Thus, both AAPL and TSM boast superb R&D yields even when compared to the overachievers in the FAAMG pack, and TSM’s yield is even higher than AAPL by a large gap.Source: Author based on Seeking Alpha dataBoth enjoy high ROCE too, but AAPL is in its own categoryTo me, ROCE (return on capital employed) is the most fundamental profitability metric as detailed in my blog article (with differences compared to ROE and Q&A on the most frequently received questions from our readers). One key reason for its fundamental importance is that the long-term growth rate is governed by ROCE and reinvestment rate (“RR”) in the following simple way:Long-Term Growth Rate = ROCE * RRThe ROCE of TSM and AAPL are shown below for the past 10 years. As you can see, TSM has been maintaining a high ROCE with remarkable consistency here. Its average ROCE has been about 42%. And I cannot overemphasize the consistency – which is a strong indicator of its stable moat. However, AAPL certainly has the upper hand here. Its ROCE is simply a category of its own. It has been hovering around an average of 125% since 2018 after its “declines” from an astronomical (and also unsustainable level in my view) of 200%+ earlier in the decade.In terms of RR, both companies have sustainable capital allocation flexibility thanks to their strong cash generation. All told, my analysis shows that TSM has been maintaining an RR in the range between 7.5% to 10% in recent years, and AAPL about 5% to 7.5%.So even without the trade tensions and deglobalization process aforementioned, I would project AAPL to have a much better perpetual growth curve ahead than TSM. I projected AAPL’s LT growth rate to be up to 10% (7.5% RR * 125% ROCE ~ 10% annual growth rate). And TSM’s growth rate, on the hand, would be limited to be in the mid-single digit range (say 4% = 10% RR * 42% ROCE).Source: Author based on Seeking Alpha dataRisks and final thoughtBut to reiterate, I do see the developing tension between TSM and AAPL and the deglobalization process as the overarching forces here. And I only see the differences in terms of valuation, R&D yields, and profitability to be secondary forces in the years to come. The deglobalization mega-trend has been unfolding since 2008. And I see a series of recent events (such as AAPL’s rejection of TSM’s price raises, the CHIPS act, the ongoing U.S.-China trade frictions, and also the Russian/Ukraine war) to further exacerbate and accelerate the trend. Under such a mega-trend, I see it as inevitable that key chip clients (such as AAPL, AMD, and NVDA) diversify their manufacturing needs away from TSM.And the bottom line is that damage will be mutual but asymmetric the way I see things. It is easier for AAPL to find replacement foundry services but a lot harder for TSM to find replacement clients at the scale of AAPL.This article is written by Envision Research for reference only. Please note the risks.","news_type":1,"symbols_score_info":{"TSM":0.9,"AAPL":1}},"isVote":1,"tweetType":1,"viewCount":2083,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9982142293,"gmtCreate":1667131109013,"gmtModify":1676537865094,"author":{"id":"4098789595583910","authorId":"4098789595583910","name":"Lsiang","avatar":"https://static.tigerbbs.com/62eed67ef2903480b12edb04a756fb53","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4098789595583910","authorIdStr":"4098789595583910"},"themes":[],"htmlText":"Okiee","listText":"Okiee","text":"Okiee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9982142293","repostId":"2278278971","repostType":2,"isVote":1,"tweetType":1,"viewCount":2648,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9980180831,"gmtCreate":1665673620123,"gmtModify":1676537647306,"author":{"id":"4098789595583910","authorId":"4098789595583910","name":"Lsiang","avatar":"https://static.tigerbbs.com/62eed67ef2903480b12edb04a756fb53","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4098789595583910","authorIdStr":"4098789595583910"},"themes":[],"htmlText":"Okie","listText":"Okie","text":"Okie","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9980180831","repostId":"1102835980","repostType":4,"repost":{"id":"1102835980","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":1665673011,"share":"https://ttm.financial/m/news/1102835980?lang=&edition=fundamental","pubTime":"2022-10-13 22:56","market":"us","language":"en","title":"Taiwan Semiconductor Manufacturing Jumped Over 5% After Showing Its Financial Result","url":"https://stock-news.laohu8.com/highlight/detail?id=1102835980","media":"Tiger Newspress","summary":"Taiwan Semiconductor Manufacturing jumped over 5% after showing its financial result.It posted an 80","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a> jumped over 5% after showing its financial result.<img src=\"https://static.tigerbbs.com/56f0969e4d003a0ca7735edfaf5b0473\" tg-width=\"668\" tg-height=\"514\" width=\"100%\" height=\"auto\"/></p><p>It posted an 80% surge in third-quarter net profit on Thursday, buoyed by strong sales of its advanced chips despite a slowdown in the global chip industry because of economic headwinds. </p></body></html>","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>Taiwan Semiconductor Manufacturing Jumped Over 5% After Showing Its Financial Result</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTaiwan Semiconductor Manufacturing Jumped Over 5% After Showing Its Financial Result\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-10-13 22:56</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a> jumped over 5% after showing its financial result.<img src=\"https://static.tigerbbs.com/56f0969e4d003a0ca7735edfaf5b0473\" tg-width=\"668\" tg-height=\"514\" width=\"100%\" height=\"auto\"/></p><p>It posted an 80% surge in third-quarter net profit on Thursday, buoyed by strong sales of its advanced chips despite a slowdown in the global chip industry because of economic headwinds. </p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSM":"台积电"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102835980","content_text":"Taiwan Semiconductor Manufacturing jumped over 5% after showing its financial result.It posted an 80% surge in third-quarter net profit on Thursday, buoyed by strong sales of its advanced chips despite a slowdown in the global chip industry because of economic headwinds.","news_type":1,"symbols_score_info":{"TSM":0.9}},"isVote":1,"tweetType":1,"viewCount":3622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9980117563,"gmtCreate":1665673483552,"gmtModify":1676537647280,"author":{"id":"4098789595583910","authorId":"4098789595583910","name":"Lsiang","avatar":"https://static.tigerbbs.com/62eed67ef2903480b12edb04a756fb53","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4098789595583910","authorIdStr":"4098789595583910"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9980117563","repostId":"1188624927","repostType":2,"repost":{"id":"1188624927","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":1665569429,"share":"https://ttm.financial/m/news/1188624927?lang=&edition=fundamental","pubTime":"2022-10-12 18:10","market":"us","language":"en","title":"PepsiCo Tops Q3 Earnings, Raises FY2022 Earnings Outlook","url":"https://stock-news.laohu8.com/highlight/detail?id=1188624927","media":"Tiger Newspress","summary":"PepsiCo Inc. stock rose sharply in early premarket trading after the company posted better-than-expe","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/PEP\">PepsiCo Inc.</a> stock rose sharply in early premarket trading after the company posted better-than-expected Q3 earnings and raised full-year guidance.</p><p>For the third quarter, the company notched $21.97B in revenue alongside $1.97 in core earnings per share. Analysts had expected $1.85 and $20.81B, respectively. A 20% jump in revenue derived from the Fito-Lay North America and a rapidly accelerating business in Latin America were cited as key drivers of the strong performance.</p><p>“Given our year-to-date performance, we now expect our full-year organic revenue to increase 12% (previously 10%) and core constant currency earnings per share to increase 10 percent (previously 8%),” CEO Ramon Laguarta said. “We are encouraged by the progress we are making on our strategic agenda, and remain committed to investing in our people, brands, supply chain, and go-to-market systems and winning in the marketplace.”</p><p>A core EPS forecast of approximately $6.73 was raised $0.10 from the previous guidance despite raising the negative impact expectation for foreign exchange. A core annual effective tax rate of 20% and slated shareholder returns of $7.7B via dividends and buybacks were maintained within the guidance.</p><p>Elsewhere, a $1.6B pre-tax impairment charge related to the company’s withdrawal from Russia was noted as impacting year-to-date profits. An $868M jump in SG&amp;A expense in the third quarter of 2022 as compared to the prior year quarter reflected &#34;higher selling and distribution costs,&#34; according to the company.</p><p>Shares of the Purchase, New York-based beverage and snack giant rose 2.55% shortly after the earnings were posted.</p><p>Shares of Pepsico jumps 2.69% on better-than-expected earnings report.<img src=\"https://static.tigerbbs.com/e33a6319292c51838b9c98d1e2e68dac\" tg-width=\"792\" tg-height=\"723\" referrerpolicy=\"no-referrer\"/></p></body></html>","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>PepsiCo Tops Q3 Earnings, Raises FY2022 Earnings Outlook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPepsiCo Tops Q3 Earnings, Raises FY2022 Earnings Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-10-12 18:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/PEP\">PepsiCo Inc.</a> stock rose sharply in early premarket trading after the company posted better-than-expected Q3 earnings and raised full-year guidance.</p><p>For the third quarter, the company notched $21.97B in revenue alongside $1.97 in core earnings per share. Analysts had expected $1.85 and $20.81B, respectively. A 20% jump in revenue derived from the Fito-Lay North America and a rapidly accelerating business in Latin America were cited as key drivers of the strong performance.</p><p>“Given our year-to-date performance, we now expect our full-year organic revenue to increase 12% (previously 10%) and core constant currency earnings per share to increase 10 percent (previously 8%),” CEO Ramon Laguarta said. “We are encouraged by the progress we are making on our strategic agenda, and remain committed to investing in our people, brands, supply chain, and go-to-market systems and winning in the marketplace.”</p><p>A core EPS forecast of approximately $6.73 was raised $0.10 from the previous guidance despite raising the negative impact expectation for foreign exchange. A core annual effective tax rate of 20% and slated shareholder returns of $7.7B via dividends and buybacks were maintained within the guidance.</p><p>Elsewhere, a $1.6B pre-tax impairment charge related to the company’s withdrawal from Russia was noted as impacting year-to-date profits. An $868M jump in SG&amp;A expense in the third quarter of 2022 as compared to the prior year quarter reflected &#34;higher selling and distribution costs,&#34; according to the company.</p><p>Shares of the Purchase, New York-based beverage and snack giant rose 2.55% shortly after the earnings were posted.</p><p>Shares of Pepsico jumps 2.69% on better-than-expected earnings report.<img src=\"https://static.tigerbbs.com/e33a6319292c51838b9c98d1e2e68dac\" tg-width=\"792\" tg-height=\"723\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PEP":"百事可乐"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188624927","content_text":"PepsiCo Inc. stock rose sharply in early premarket trading after the company posted better-than-expected Q3 earnings and raised full-year guidance.For the third quarter, the company notched $21.97B in revenue alongside $1.97 in core earnings per share. Analysts had expected $1.85 and $20.81B, respectively. A 20% jump in revenue derived from the Fito-Lay North America and a rapidly accelerating business in Latin America were cited as key drivers of the strong performance.“Given our year-to-date performance, we now expect our full-year organic revenue to increase 12% (previously 10%) and core constant currency earnings per share to increase 10 percent (previously 8%),” CEO Ramon Laguarta said. “We are encouraged by the progress we are making on our strategic agenda, and remain committed to investing in our people, brands, supply chain, and go-to-market systems and winning in the marketplace.”A core EPS forecast of approximately $6.73 was raised $0.10 from the previous guidance despite raising the negative impact expectation for foreign exchange. A core annual effective tax rate of 20% and slated shareholder returns of $7.7B via dividends and buybacks were maintained within the guidance.Elsewhere, a $1.6B pre-tax impairment charge related to the company’s withdrawal from Russia was noted as impacting year-to-date profits. An $868M jump in SG&A expense in the third quarter of 2022 as compared to the prior year quarter reflected \"higher selling and distribution costs,\" according to the company.Shares of the Purchase, New York-based beverage and snack giant rose 2.55% shortly after the earnings were posted.Shares of Pepsico jumps 2.69% on better-than-expected earnings report.","news_type":1,"symbols_score_info":{"PEP":0.9}},"isVote":1,"tweetType":1,"viewCount":3072,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"followers","isTTM":true}