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2024-12-02

This article is damn long unproductive.

It's Black Friday! Let's Talk About Fast Fashion.

2024-10-21

"ASML's constant price target changes reek of manipulation. Lack of transparency serves personal interests."[Thinking]

ASML Holding: Share Price Is Still Lofty Despite The Most Recent 16% Plunge

2024-10-11

Shouldn't we consider the social implications of destruction of taxi industry.How will Tesla support driver affected by this technological shift.

Tesla's Robotaxi Event Disappoints Investors

2024-08-30

"Market manipulation persists as some exploit pump and dump schemes, preying on unsuspecting investors. Transparency and accountability are crucial to protecting retail investors and maintaining a fair market."[Allin]

Nasdaq, S&P, Dow futures in green ahead of inflation report

Go to Tiger App to see more news

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article is damn long unproductive.","listText":"This article is damn long unproductive.","text":"This article is damn long unproductive.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/377272483324216","repostId":"2487055212","repostType":2,"repost":{"id":"2487055212","kind":"highlight","pubTimestamp":1732885380,"share":"https://ttm.financial/m/news/2487055212?lang=&edition=fundamental","pubTime":"2024-11-29 21:03","market":"fut","language":"en","title":"It's Black Friday! Let's Talk About Fast Fashion.","url":"https://stock-news.laohu8.com/highlight/detail?id=2487055212","media":"Motley Fool","summary":"Even if you don't shop on Shein or Temu, you've felt their impact.","content":"<html><body><div><p>Timothy McLaughlin is a contributing writer for <em>The Atlantic</em>, with a recent article titled \"The Mysterious, Meteoric Rise of Shein.\" Read the article here (sign-in required).</p><p>In this podcast, Motley Fool host Mary Long caught up with Timothy to discuss:</p><ul><li aria-level=\"1\">How fast fashion became ultra-fast fashion.</li><li aria-level=\"1\">Why Shein's leaders may be staying quiet.</li><li aria-level=\"1\">How an export and tax loophole is driving business for Shein and Temu, and why that could change.</li></ul><p>Go to breakfast.fool.com to sign up to wake up daily to the latest market news, company insights, and a bit of Foolish fun -- all wrapped up in one quick, easy-to-read email called Breakfast News.</p><p>To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our beginner's guide to investing in stocks. A full transcript follows the video.</p><div><video-js controls=\"\"></video-js></div><p><em>This video was recorded on Nov. 24, 2024.</em></p><p><strong>Timothy McLaughlin:</strong> There's certainly people who say, I never use that website or I'm not downloading that app. I stay off it. I think people don't realize or maybe unaware that even if you're not using Shein or Temu, they probably changed the way that you're shopping.</p><div><div><div></div></div></div><p><strong>Ricky Mulvey:</strong> I'm Ricky Mulvey, and that's Timothy McLaughlin, a contributing writer for the Atlantic who's got a story titled The mysterious Meteoric Rise of Shein. Shein is a fast fashion company that's taken off in the US, selling long-sleeved T-shirts for $7 and jeans for under 20 bucks. The website is packed with flash sales and offers that almost sound too good to be true. Even if you haven't shopped there, Shein has changed the landscape for online commerce. Even <strong>Amazon</strong> has launched a competitive offering. My colleague Mary Long caught up with McLaughlin to talk about his reporting and the questions surrounding this mysterious company.</p><p><strong>Mary Long:</strong> You wrote an article that was published in the Atlantic a couple months ago about the mysterious and meteoric rise of Shein. This company started in 2012, though there are some sources that cite actually 2008 as the founding date. Today, over a decade later, little is still known about the company, especially its financials. It is privately held but it's estimated that, this is a company that brings in over $30 billion in revenue, over $2 billion in profits, its latest valuation so that the company was worth more than $60 billion. Tell us about this meteoric rise. How did Shein get it start and how did it get to be the behemoth that it is today?</p><div></div><p><strong>Timothy McLaughlin:</strong> What we do know from the reporting that I did that many other people have done on the company, Chinese language media about its early start is that Chris Shu, the founder who also goes by a few other names, originally worked in search engine optimization and used those skills that he had after graduating from university to start some smalish e-commerce websites. Now, there was two other founders at the time in this part of the history, I think, is a bit fuzzy because two of the other founders who used to speak to the media have now stopped talking to the media.</p><p>There is some of their telling of what happened out there but in short, they said that Chris took the company that they built together that was selling products online and seized the company that they had worked to build up. He took control of the company accounts, locked them out of the office, and then continued on and ended up building the company into what it is today. I think one of the key things is that at first, this was essentially drop shipping. They were just selling products from other companies. Only later on did she and Chris Shu start making their own products under their own brand and selling them. There are a few still spots where it's unclear exactly what happened. That's because the founder has, to my knowledge, never given an interview about how this started. Now they cite the company as having three other founders. We do know that the three other \"founders\" are the four people make up the core members of the team that they all handle different aspects of the company. One of them has talked a little bit to the media.</p><div><div><div></div></div></div><p>The other three remain a bit of a mystery. I think Chris Shu, there are, as I pointed out in my story, photos that purport to be him out there. They're not him. They're a photo from a professor at Cornell University who told me that he regularly gets emails from people complaining about products, want to talk to him about the website. He's actually an extremely accomplished professor at Cornell. I think he works in bio-mechanical engineering. He's won a heap of awards. He has nothing to do with the website. You can if listeners are interested, you can look at the Wall Street Journal story that calls him the most anonymous CEO in the world and notice that there's no photo picture with that story.</p><p>It's illustrated. I spoke to the illustrator in Brazil, and he was provided photos from the newspaper of Chris Shu to base those drawings off of, but there's no actual photo of him that ran with the story. I think they go to great lengths to keep him, I guess, out of the spotlight, under wraps. There's a huge debate or there was a huge debate on the Internet in China of whether where he went to university is where he really said he went to university because there are photos of him at graduation. Some people think he's standing in front of buildings at a different university rather than one that he said. There's a huge amount of speculation, of intrigue, of rumors floating around about him. I think a lot of that is because he's just exceedingly low key and under the radar. Like I said, there's not even really a good photo of him out there on the Internet at the moment.</p><p><strong>Mary Long:</strong> There's this obvious juxtaposition to be made because at least in the US, but elsewhere as well, we can venerate tech CEOs. Why especially with that in mind, why is it that, do you think that Shu chooses to keep such a low profile? To call it a low profile is also a bit of an understatement like to remain so deeply anonymous.</p><p><strong>Timothy McLaughlin:</strong> I think part of it is the political climate in China right now. We've seen financiers, tech entrepreneurs, high-flying individuals in the business world in China been slapped down pretty hard by the government. Jack Ma, I think, is probably the one that most people know vanished from the scene for a while during the crackdown on the tech sector in China a couple of years back. That's not, I guess, uncommon that these people go off the radar for a while, whether what the state's involvement in that is, I think, is difficult to know. But I think there is now a desire to stay pretty low-key.</p><div><div><div></div></div></div><p>I think, you know, the age of wanting to be the high-flying Chinese executive, wanting to be on the billionaire list or things like that, I think people would much rather avoid all of that because there is a lot of attention that comes with that. We do know from other reporting on the company that the Chinese government is interested in what they're doing, that they do keep tabs. I don't want to say, keep tabs, but they're certainly watching what the company does, given its size and the attention that's attracted, especially, again, because of the geopolitical climate. I think that probably there is a desire to stay very low-key. I think that's also that leads into the reason people might ask, why is the company in Singapore? They go to great lengths to present themselves as a Singaporean company. Even though we know most of the productions in China, most of the sales are happening outside of China. Again, something that has become a trend in the past couple of years. Probably, again, people mostly know Bite Dance and TikTok, moving their headquarters here and talking about being a Singaporean company. Singapore washing a term that some of the more hawkish people in DC use for the practice now. I think all of that is wanting to stay off the political radar, continue business as usual without stepping on the toes of the state.</p><p><strong>Mary Long:</strong> Shein is certainly sits at the intersection of lots of different geopolitical issues, and I want to touch more on those a bit down the line. But it also sits at the intersection of the conversation about fast fashion. That said, it is not the world's first fast fashion company. Before Shein came onto the scene, when did fashion first become fast?</p><p><strong>Timothy McLaughlin:</strong> Certainly, the brands that people would be aware of that get mentioned as the first generation of this would be like <strong>H&amp;M</strong>, I think, would come to mind, Prime Mark for British consumers, Zara, that first wave, I think that people are aware of. I think what Shein did is obviously the difference or one of the major differences: they don't have brick-and-mortar operations. It's all online, which is hugely beneficial during the pandemic. They were not shuttering places, paying rent, laying off employees because they were all online. In that moment, it was very helpful to their business.</p><p>I think those are the first not first, but maybe the ones that people are familiar with. I think the argument that people will make is that Shein of when from fast fashion to hyper-fast fashion or ultra-fast fashion is something that some people use to describe it. I don't think people have settled on a term just quite yet. But certainly something, I guess, new and faster. As you mentioned in the intro there, the number of products that they're brucing of designs that they're putting out hugely exceeds those more traditional fast fashion brands that people might be aware of.</p><div><div><div></div></div></div><p><strong>Mary Long:</strong> How exactly is Shein able to take fast fashion from fast to hyper-fast and beat even Zara and H&amp;M at this fast fashion game?</p><p><strong>Timothy McLaughlin:</strong> I guess I touched on this a little bit of the intro. A bit of it is still unknown. They talk about, and they have offered or begin to offer up their technology to other companies. They announced that a few months back. It is still, I think, a challenge to know exactly what's going on, but we do know the basics, and I think the basics are that they are producing much smaller batches of products than traditional fast fashion. They don't do runs of 10,000 items.</p><p>They're producing a couple hundred of items spread across dozens and dozens of really small producers, primarily in Shenzhen in China. What that does is it allows them to keep down their overhead and their warehousing fees. I think those are two things that are very important in the fashion industry. When you have an excess of clothes, two things happen. Not only, say you make a T shirt, it's terrible. The style doesn't really catch on. You have 10,000 pieces of clothing, you have the issue of one, you have to pay to store it, takes up space where you could be storing other stuff. Two, you might end up selling that at an end-of-year sale at a huge discount.</p><p>What Shein argument is is that they produce smaller batches, and they can do this because of, again, a unknown tech advances that they've made that allow them to predict or guess a little bit of what people's styles or trends might be based on shopping data and things like that. Then they can make smaller runs, which saves them money, ultimately saves the consumer money and gets the products out to the market faster. There are certainly questions around where a lot of the artwork and designs are coming from. The company is facing I mean, I haven't checked recently, but at any given time, dozens and dozens of lawsuits over copyright issues taking artists drawings or designs, slapping them on t shirts, on phone cases, on things like that. Generally, what happens in those situations is that the company settles them, pays out the artists and moves along.</p><div><div><div></div></div></div><p>We do know from reporting from Wired magazine that I cited in my piece that this cost them quite a bit of money and that they are certainly concerned from a monetary standpoint about it. There are, again, questions on how far they're going to regulate it. There are, like I said, a lot of cases playing out now. I should say these are not just, independent artists. They've been involved in lawsuits with tons of brands that people probably know Oakley, Stoic. The list Doc Martin, the list goes on and on. That is also, I think a big issue with the company that people have been looking at.</p><p><strong>Mary Long:</strong> I want to focus on this technology piece because it sounds like that is in some ways, Shein's secret sauce. The Wall Street Journal reported earlier this year that Shein would start selling its supply chain technology to other brands. If that is a part of Shein secret sauce, why sell it out to potential competitors or existing competitors?</p><p><strong>Timothy McLaughlin:</strong> A couple of things. We do know there are Chinese security companies and other companies in China that have gotten a better look, I think, what's going on here and there's some interesting pieces in Chinese language media about how this all works. We do know that they're hoovering up like a huge amount of data when you're on the website, what you're clicking on, how long you're hovering above items. This goes for the app as well, because the app, I think, is really important to mention because that's where this all started.</p><p>I think the app is if we're talking about the tech, not the production side, but the consumer side, I do think, the app is an interesting one to look at because it is really gamephy the shopping experience. There is a lot of interactive stuff. It is keeping you on the app for a while, and it's part social media, part shopping, part community discussion on fashion. It is, I think a very interesting product that they have there on the phone. In terms of the production side, yes, the technology and the design center and how they go about producing the stuff, they have started, according to the journal report that you mentioned, though we haven't seen any, I guess, more news on who's taking them up on that. I think there are looking for ways to diversify, and they're looking for new ways to make money off what they have besides just selling the clothes.</p><div><div><div></div></div></div><p>I think that offers a good opportunity to them. I think that story, and I asked questions about this, again murky on the extent of what it would be, what exactly it would look like, what companies would have access to if any of the companies have taken them up on that. I think it's an interesting story. I'm interested to see if there's follow-up or further reporting on what this all means because that story was out there, then we haven't seen much about it since then.</p><p><strong>Mary Long:</strong> When we think about these hyper-fast fashion retailers, Shein plays in the same space as Temu, and now Amazon is breaking into this space as well. They recently launched Amazon Hall. All three of these sites offer the same idea. Anything you want for what's effectively pennies or something close to it. Interestingly, the sitewide strategy also seems pretty similar. You bombard people with options, emojis, offerings, all these glittery sparkly things, so they can't really process what's going on. Obviously, price is something that brings a person to any of these sites but what if all three of these are playing the same game and trying to beat each other out in a game of pennies, and there's so much stuff to choose from, why is one consumer going to one site over another? Do any of these actually have a mote or a differentiator that distinguishes them from the others in the game?</p><p><strong>Timothy McLaughlin:</strong> I think you pointed out something good there. You're very interesting with Amazon and the halls. When I was writing this story, there's certainly people who say, I never used that website or I'm not downloading that app. I stay off it. I think people don't realize or maybe unaware that even if you're not using Shein or Temu, they probably changed the way that you're shopping because they are forcing competitors like Amazon to change the way that they're presenting products and bringing them to the market and selling them to consumers.</p><p>People could say, I don't use that or this or that. It 100% is impacting the way people shop and the way websites work, e-commerce, even if you're not using it, because they have become so successful and they've done so well that they are forcing the traditional big players like Amazon to adapt and change the way that they're serving customers and also the way that they're dealing with their sellers on their own platforms. In terms of what's different, there isn't a huge amount of difference at this point. I think we see for many shoppers the disappearance of brand loyalty. That doesn't seem to matter that much anymore. Is the cheapest price, whether it's from Amazon Basics or an unbranded Shein or just a Shein brand or Temu brand, it doesn't on certain items, people simply seem to no longer care if it's from a brand that they've heard of or, a pair like a pack of white T-shirts, whether it's just the cheapest price point possible.</p><div><div><div></div></div></div><p>I think that what Amazon is likely going for is familiarity, people obviously in the United States very familiar with it. People certainly younger generation, more familiar with, Shein and Temu it's growing but I think that they are hoping Amazon's certainly hoping that people who are already on the website that are using it for groceries or prime deliveries or streaming, that they can then reel those people in with the same cheap options on clothing and other items that are available on the other websites already. I think it's an interesting space to watch to see how the competition continues. Shein obviously exploded huge, but also seems to be struggling in terms of we see its valuation that has dropped from around 100 million down to 66, down to 50 billion not million. There's been a slide there, there's questions over there listing when or if that's going to happen. I think interesting to watch how the three of them compete into space going forward.</p><p><strong>Mary Long:</strong> Once upon a time, Shein was eyeing an IPO in the US. That idea has died. What happened to that plan?</p><p><strong>Timothy McLaughlin:</strong> For the past at least I think three years there has been stories that have been leaked or floated, that the IPO is coming really soon. It's right around the corner. Now where you are definitely in the back half of 2024, we do know that the latest target would be in the UK for London listing yes, the US was certainly originally the intended location from the reporting that's out there. That didn't happen, I think for a number of reasons, there's just a huge amount of scrutiny on the company in the US. Also, there's scrutiny in the company from the company in China and whether and from authorities there because the production and their most employment continues to happen there, that gives the Chinese government a level of control over the company and where it can go. Now, for the past year-ish or half year, at least, the reporting and the talk has been the listing in London. Like I said obviously, we're almost into December here, and that hasn't happened yet. I think people are watching that.</p><p>They're always also been floated by people in the financial journalism world that they could always return closer to home and head to Hong Kong, certainly a city that is looking for big listings at the moment, that's looking for some good financial, economic news. That would be a splash you get for Hong Kong. It would certainly play into Hong Kong's current plan of trying to integrate itself more with the mainland and with the mainland market.</p><div><div><div></div></div></div><p>That one is just speculation. London seems to be the spot for now but, I think a lot of waiting and seeing if and when this thing is going to happen, the company did take on a lot of funding from some big firms who one would assume at some point would like to see returns on the investment that they made, some of them as early as almost ten years ago now. Definitely, a lot of eyes watching where they go. For London, some people have asked why there. I think the stock market there is in pretty bad shape. It would be a big boom for the UK to get a big listing like this.</p><p>The IPO would probably be very large. It would also maybe help the new government of the UK show that they are willing to do business with China and be a little bit more accommodating on the geopolitical front there. We talked about how Shein sits at the intersection of not just the fast fashion world, but also in the middle of a lot of hot geopolitical issues. One of those issues that I didn't fully realize until reading your story is about this loophole in import taxes and import duties that Shein gets to pay. Maybe you can walk us through this a bit. What is the de-minimis clause, and how is that relevant to the Shein story?</p><p><strong>Timothy McLaughlin:</strong> Yes, I should have mentioned de-minimis earlier. It is a piece of legislation or law, rather, in the United States that I think very few people really paid attention to except trade wanks and maybe some people in the freight import, export business until very recently because of the connections to China. What it allows for is for small packages to come into the United States if their value is below $800 is the threshold right now. They are subject to very little inspection entering the United States, and they are free from paying taxes and tariffs on those packages. With a website like Shein, where many of the items, as you said earlier, cost a few cents or a couple of dollars, you can obviously order a lot of stuff, and the company can ship it into the United States with very limited oversight and also avoiding paying taxes and tariffs on the items that are coming in. Critics call it a loophole.</p><p>It was much lower until the Obama administration. It was part of a larger trade package that went through, Congress was signed into law by Barack Obama that raised the threshold. It used to be $200. It raised it up to 800. The feeling at the time was that the countries on the US border, Mexico and Canada would also do this. It would facilitate easier trade, and it would also allow Americans to travel abroad and bring back gifts and things like that without declaring them and going through paperwork. I should also say there was a huge amount of lobbying to get the number raised to 800 and even higher in some cases, by shipping companies like FedEx, who obviously benefit from the increased volume of packages that would be moving into the United States. It's sat at $800 for a long time. I don't think a lot of people really like I said, I think, you know, trade wonks and some other people were kind of interested in it became a massive issue really during the pandemic when people were at home, shopping online a lot, and we see this just huge uptick in packages that are coming into the United States using the de-minimis law.</p><div><div><div></div></div></div><p>They're coming in this year, probably over 1 billion packages entering the United States. That caught the attention of a lot of lawmakers, again, given the tensions and the situation with China, asking, are these companies paying their fair share? I think that bit of it has been going on for a while now. There's been a lot of legislation that's been introduced. Not a lot of it really moved for various reasons. There are big business groups, again, express shippers who would like to see this stay. Now, I think what happened and why we're all of a sudden seeing a lot more movement on it.</p><p>We saw the White House address it. Yesterday, the US economic insecurities on China, the Commission talked about it, as well. I think what has happened is lawmakers and people who are critics of this have started linking it to the fentanyl trade and saying that, hey, this is how fentanyl is getting into United States from China. They're bringing in either the product itself or the chemicals to make it is coming in through this means. When you link it to that and then you start having victims' families come and testify and talk to Congress and stuff, now suddenly there's a huge amount of interest in what is this and how can we change it? I think for the past couple of years it's been sitting there, there's been a lot of talk about it. It's gotten a lot of attention.</p><p>It hasn't really moved. Now, all of a sudden, I think we're going to start seeing some changes because of, again, the geopolitical climate and linking this to something that's very serious. By the way, this is by no means saying that Temu, Shein, that anyone of these companies are involved in any way in the drug trade. I'm just saying that this is, I think, how lawmakers who are against this and critics of it have found a much more emotional emotive way to lobby on changing it, and that's gotten a lot more attention. I think that we already saw Biden announced some changes to it, who knows with the Trump administration, how that will go. But certainly seems to be a ton of cross-party support for doing something to change this.</p><p>That would be a big blow for Shein and Temu although they're already pivoting. I would point people if they hadn't read it to the rest of the world story that came out I think this week or last week about using family warehouses, which are essentially houses of Chinese immigrants living in the United States and housing the packages there before they go out to shipment. The other issue here is that a lot of companies are shipping the products from China to Mexico or Canada, where they break the packages up into smaller pieces, then bring them into the United States. We see, again, lawmakers calling for some regulation on that, on other sides of the border. Certainly, an issue that I don't think is going away. Again, because it's being linked to fentanyl and the drug trade with China, I think it's going to see some changes coming up at some point.</p><div><div><div></div></div></div><p><strong>Mary Long:</strong> You've got this newer emotional side to it being brought up, but also in June 2023, just to put some numbers behind it and you cite these numbers in your reporting, the House Select Committee on the CCP found that in 2022, <strong>GAP</strong> paid $700 million in import duties. H&amp;M paid $205 million. Shein and Temu paid nothing. We've already heard you mentioned, I don't know what the Trump administration is going to do. We've heard a lot about tariffs recently. I can't imagine that certainly being a sticking point moving forward. Tim McLaughlin, thanks so much for the time. Thanks so much for your reporting on this company. Though I'm sure parts of it were frustrating because it is indeed so mysterious but thanks for coming on and spending some time with us on Motley Fool Money. Really appreciate having you here.</p><p><strong>Timothy McLaughlin:</strong> Thanks so much. I appreciate it.</p><p><strong>Ricky Mulvey:</strong> We've got a link to Tim's story in the show notes if you want to check it out. As always, people on the program may have interests in stocks they talk about the Motley Fool may have formal recommendations for or against. Don't buy or sell stocks based solely on what you hear. All personal finance content follows Motley Fool editorial standards and are not approved by advertisers. The Motley Fool only picks products that it would personally recommend to friends like you. I'm Ricky Mulvey. Thanks for listening. We'll be back tomorrow.</p></div></body></html>","source":"fool_stock","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>It's Black Friday! 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Let's Talk About Fast Fashion.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-29 21:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2024/11/29/its-black-friday-lets-talk-about-fast-fashion/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Timothy McLaughlin is a contributing writer for The Atlantic, with a recent article titled \"The Mysterious, Meteoric Rise of Shein.\" Read the article here (sign-in required).In this podcast, Motley ...</p>\n\n<a href=\"https://www.fool.com/investing/2024/11/29/its-black-friday-lets-talk-about-fast-fashion/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F799331%2Fmfm_24.jpg&op=resize&w=165&h=104","relate_stocks":{"FAST":"快扣","BK4104":"贸易公司与经销商","BK4585":"ETF&股票定投概念","BK4567":"ESG概念","BK4588":"碎股"},"source_url":"https://www.fool.com/investing/2024/11/29/its-black-friday-lets-talk-about-fast-fashion/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2487055212","content_text":"Timothy McLaughlin is a contributing writer for The Atlantic, with a recent article titled \"The Mysterious, Meteoric Rise of Shein.\" Read the article here (sign-in required).In this podcast, Motley Fool host Mary Long caught up with Timothy to discuss:How fast fashion became ultra-fast fashion.Why Shein's leaders may be staying quiet.How an export and tax loophole is driving business for Shein and Temu, and why that could change.Go to breakfast.fool.com to sign up to wake up daily to the latest market news, company insights, and a bit of Foolish fun -- all wrapped up in one quick, easy-to-read email called Breakfast News.To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our beginner's guide to investing in stocks. A full transcript follows the video.This video was recorded on Nov. 24, 2024.Timothy McLaughlin: There's certainly people who say, I never use that website or I'm not downloading that app. I stay off it. I think people don't realize or maybe unaware that even if you're not using Shein or Temu, they probably changed the way that you're shopping.Ricky Mulvey: I'm Ricky Mulvey, and that's Timothy McLaughlin, a contributing writer for the Atlantic who's got a story titled The mysterious Meteoric Rise of Shein. Shein is a fast fashion company that's taken off in the US, selling long-sleeved T-shirts for $7 and jeans for under 20 bucks. The website is packed with flash sales and offers that almost sound too good to be true. Even if you haven't shopped there, Shein has changed the landscape for online commerce. Even Amazon has launched a competitive offering. My colleague Mary Long caught up with McLaughlin to talk about his reporting and the questions surrounding this mysterious company.Mary Long: You wrote an article that was published in the Atlantic a couple months ago about the mysterious and meteoric rise of Shein. This company started in 2012, though there are some sources that cite actually 2008 as the founding date. Today, over a decade later, little is still known about the company, especially its financials. It is privately held but it's estimated that, this is a company that brings in over $30 billion in revenue, over $2 billion in profits, its latest valuation so that the company was worth more than $60 billion. Tell us about this meteoric rise. How did Shein get it start and how did it get to be the behemoth that it is today?Timothy McLaughlin: What we do know from the reporting that I did that many other people have done on the company, Chinese language media about its early start is that Chris Shu, the founder who also goes by a few other names, originally worked in search engine optimization and used those skills that he had after graduating from university to start some smalish e-commerce websites. Now, there was two other founders at the time in this part of the history, I think, is a bit fuzzy because two of the other founders who used to speak to the media have now stopped talking to the media.There is some of their telling of what happened out there but in short, they said that Chris took the company that they built together that was selling products online and seized the company that they had worked to build up. He took control of the company accounts, locked them out of the office, and then continued on and ended up building the company into what it is today. I think one of the key things is that at first, this was essentially drop shipping. They were just selling products from other companies. Only later on did she and Chris Shu start making their own products under their own brand and selling them. There are a few still spots where it's unclear exactly what happened. That's because the founder has, to my knowledge, never given an interview about how this started. Now they cite the company as having three other founders. We do know that the three other \"founders\" are the four people make up the core members of the team that they all handle different aspects of the company. One of them has talked a little bit to the media.The other three remain a bit of a mystery. I think Chris Shu, there are, as I pointed out in my story, photos that purport to be him out there. They're not him. They're a photo from a professor at Cornell University who told me that he regularly gets emails from people complaining about products, want to talk to him about the website. He's actually an extremely accomplished professor at Cornell. I think he works in bio-mechanical engineering. He's won a heap of awards. He has nothing to do with the website. You can if listeners are interested, you can look at the Wall Street Journal story that calls him the most anonymous CEO in the world and notice that there's no photo picture with that story.It's illustrated. I spoke to the illustrator in Brazil, and he was provided photos from the newspaper of Chris Shu to base those drawings off of, but there's no actual photo of him that ran with the story. I think they go to great lengths to keep him, I guess, out of the spotlight, under wraps. There's a huge debate or there was a huge debate on the Internet in China of whether where he went to university is where he really said he went to university because there are photos of him at graduation. Some people think he's standing in front of buildings at a different university rather than one that he said. There's a huge amount of speculation, of intrigue, of rumors floating around about him. I think a lot of that is because he's just exceedingly low key and under the radar. Like I said, there's not even really a good photo of him out there on the Internet at the moment.Mary Long: There's this obvious juxtaposition to be made because at least in the US, but elsewhere as well, we can venerate tech CEOs. Why especially with that in mind, why is it that, do you think that Shu chooses to keep such a low profile? To call it a low profile is also a bit of an understatement like to remain so deeply anonymous.Timothy McLaughlin: I think part of it is the political climate in China right now. We've seen financiers, tech entrepreneurs, high-flying individuals in the business world in China been slapped down pretty hard by the government. Jack Ma, I think, is probably the one that most people know vanished from the scene for a while during the crackdown on the tech sector in China a couple of years back. That's not, I guess, uncommon that these people go off the radar for a while, whether what the state's involvement in that is, I think, is difficult to know. But I think there is now a desire to stay pretty low-key.I think, you know, the age of wanting to be the high-flying Chinese executive, wanting to be on the billionaire list or things like that, I think people would much rather avoid all of that because there is a lot of attention that comes with that. We do know from other reporting on the company that the Chinese government is interested in what they're doing, that they do keep tabs. I don't want to say, keep tabs, but they're certainly watching what the company does, given its size and the attention that's attracted, especially, again, because of the geopolitical climate. I think that probably there is a desire to stay very low-key. I think that's also that leads into the reason people might ask, why is the company in Singapore? They go to great lengths to present themselves as a Singaporean company. Even though we know most of the productions in China, most of the sales are happening outside of China. Again, something that has become a trend in the past couple of years. Probably, again, people mostly know Bite Dance and TikTok, moving their headquarters here and talking about being a Singaporean company. Singapore washing a term that some of the more hawkish people in DC use for the practice now. I think all of that is wanting to stay off the political radar, continue business as usual without stepping on the toes of the state.Mary Long: Shein is certainly sits at the intersection of lots of different geopolitical issues, and I want to touch more on those a bit down the line. But it also sits at the intersection of the conversation about fast fashion. That said, it is not the world's first fast fashion company. Before Shein came onto the scene, when did fashion first become fast?Timothy McLaughlin: Certainly, the brands that people would be aware of that get mentioned as the first generation of this would be like H&M, I think, would come to mind, Prime Mark for British consumers, Zara, that first wave, I think that people are aware of. I think what Shein did is obviously the difference or one of the major differences: they don't have brick-and-mortar operations. It's all online, which is hugely beneficial during the pandemic. They were not shuttering places, paying rent, laying off employees because they were all online. In that moment, it was very helpful to their business.I think those are the first not first, but maybe the ones that people are familiar with. I think the argument that people will make is that Shein of when from fast fashion to hyper-fast fashion or ultra-fast fashion is something that some people use to describe it. I don't think people have settled on a term just quite yet. But certainly something, I guess, new and faster. As you mentioned in the intro there, the number of products that they're brucing of designs that they're putting out hugely exceeds those more traditional fast fashion brands that people might be aware of.Mary Long: How exactly is Shein able to take fast fashion from fast to hyper-fast and beat even Zara and H&M at this fast fashion game?Timothy McLaughlin: I guess I touched on this a little bit of the intro. A bit of it is still unknown. They talk about, and they have offered or begin to offer up their technology to other companies. They announced that a few months back. It is still, I think, a challenge to know exactly what's going on, but we do know the basics, and I think the basics are that they are producing much smaller batches of products than traditional fast fashion. They don't do runs of 10,000 items.They're producing a couple hundred of items spread across dozens and dozens of really small producers, primarily in Shenzhen in China. What that does is it allows them to keep down their overhead and their warehousing fees. I think those are two things that are very important in the fashion industry. When you have an excess of clothes, two things happen. Not only, say you make a T shirt, it's terrible. The style doesn't really catch on. You have 10,000 pieces of clothing, you have the issue of one, you have to pay to store it, takes up space where you could be storing other stuff. Two, you might end up selling that at an end-of-year sale at a huge discount.What Shein argument is is that they produce smaller batches, and they can do this because of, again, a unknown tech advances that they've made that allow them to predict or guess a little bit of what people's styles or trends might be based on shopping data and things like that. Then they can make smaller runs, which saves them money, ultimately saves the consumer money and gets the products out to the market faster. There are certainly questions around where a lot of the artwork and designs are coming from. The company is facing I mean, I haven't checked recently, but at any given time, dozens and dozens of lawsuits over copyright issues taking artists drawings or designs, slapping them on t shirts, on phone cases, on things like that. Generally, what happens in those situations is that the company settles them, pays out the artists and moves along.We do know from reporting from Wired magazine that I cited in my piece that this cost them quite a bit of money and that they are certainly concerned from a monetary standpoint about it. There are, again, questions on how far they're going to regulate it. There are, like I said, a lot of cases playing out now. I should say these are not just, independent artists. They've been involved in lawsuits with tons of brands that people probably know Oakley, Stoic. The list Doc Martin, the list goes on and on. That is also, I think a big issue with the company that people have been looking at.Mary Long: I want to focus on this technology piece because it sounds like that is in some ways, Shein's secret sauce. The Wall Street Journal reported earlier this year that Shein would start selling its supply chain technology to other brands. If that is a part of Shein secret sauce, why sell it out to potential competitors or existing competitors?Timothy McLaughlin: A couple of things. We do know there are Chinese security companies and other companies in China that have gotten a better look, I think, what's going on here and there's some interesting pieces in Chinese language media about how this all works. We do know that they're hoovering up like a huge amount of data when you're on the website, what you're clicking on, how long you're hovering above items. This goes for the app as well, because the app, I think, is really important to mention because that's where this all started.I think the app is if we're talking about the tech, not the production side, but the consumer side, I do think, the app is an interesting one to look at because it is really gamephy the shopping experience. There is a lot of interactive stuff. It is keeping you on the app for a while, and it's part social media, part shopping, part community discussion on fashion. It is, I think a very interesting product that they have there on the phone. In terms of the production side, yes, the technology and the design center and how they go about producing the stuff, they have started, according to the journal report that you mentioned, though we haven't seen any, I guess, more news on who's taking them up on that. I think there are looking for ways to diversify, and they're looking for new ways to make money off what they have besides just selling the clothes.I think that offers a good opportunity to them. I think that story, and I asked questions about this, again murky on the extent of what it would be, what exactly it would look like, what companies would have access to if any of the companies have taken them up on that. I think it's an interesting story. I'm interested to see if there's follow-up or further reporting on what this all means because that story was out there, then we haven't seen much about it since then.Mary Long: When we think about these hyper-fast fashion retailers, Shein plays in the same space as Temu, and now Amazon is breaking into this space as well. They recently launched Amazon Hall. All three of these sites offer the same idea. Anything you want for what's effectively pennies or something close to it. Interestingly, the sitewide strategy also seems pretty similar. You bombard people with options, emojis, offerings, all these glittery sparkly things, so they can't really process what's going on. Obviously, price is something that brings a person to any of these sites but what if all three of these are playing the same game and trying to beat each other out in a game of pennies, and there's so much stuff to choose from, why is one consumer going to one site over another? Do any of these actually have a mote or a differentiator that distinguishes them from the others in the game?Timothy McLaughlin: I think you pointed out something good there. You're very interesting with Amazon and the halls. When I was writing this story, there's certainly people who say, I never used that website or I'm not downloading that app. I stay off it. I think people don't realize or maybe unaware that even if you're not using Shein or Temu, they probably changed the way that you're shopping because they are forcing competitors like Amazon to change the way that they're presenting products and bringing them to the market and selling them to consumers.People could say, I don't use that or this or that. It 100% is impacting the way people shop and the way websites work, e-commerce, even if you're not using it, because they have become so successful and they've done so well that they are forcing the traditional big players like Amazon to adapt and change the way that they're serving customers and also the way that they're dealing with their sellers on their own platforms. In terms of what's different, there isn't a huge amount of difference at this point. I think we see for many shoppers the disappearance of brand loyalty. That doesn't seem to matter that much anymore. Is the cheapest price, whether it's from Amazon Basics or an unbranded Shein or just a Shein brand or Temu brand, it doesn't on certain items, people simply seem to no longer care if it's from a brand that they've heard of or, a pair like a pack of white T-shirts, whether it's just the cheapest price point possible.I think that what Amazon is likely going for is familiarity, people obviously in the United States very familiar with it. People certainly younger generation, more familiar with, Shein and Temu it's growing but I think that they are hoping Amazon's certainly hoping that people who are already on the website that are using it for groceries or prime deliveries or streaming, that they can then reel those people in with the same cheap options on clothing and other items that are available on the other websites already. I think it's an interesting space to watch to see how the competition continues. Shein obviously exploded huge, but also seems to be struggling in terms of we see its valuation that has dropped from around 100 million down to 66, down to 50 billion not million. There's been a slide there, there's questions over there listing when or if that's going to happen. I think interesting to watch how the three of them compete into space going forward.Mary Long: Once upon a time, Shein was eyeing an IPO in the US. That idea has died. What happened to that plan?Timothy McLaughlin: For the past at least I think three years there has been stories that have been leaked or floated, that the IPO is coming really soon. It's right around the corner. Now where you are definitely in the back half of 2024, we do know that the latest target would be in the UK for London listing yes, the US was certainly originally the intended location from the reporting that's out there. That didn't happen, I think for a number of reasons, there's just a huge amount of scrutiny on the company in the US. Also, there's scrutiny in the company from the company in China and whether and from authorities there because the production and their most employment continues to happen there, that gives the Chinese government a level of control over the company and where it can go. Now, for the past year-ish or half year, at least, the reporting and the talk has been the listing in London. Like I said obviously, we're almost into December here, and that hasn't happened yet. I think people are watching that.They're always also been floated by people in the financial journalism world that they could always return closer to home and head to Hong Kong, certainly a city that is looking for big listings at the moment, that's looking for some good financial, economic news. That would be a splash you get for Hong Kong. It would certainly play into Hong Kong's current plan of trying to integrate itself more with the mainland and with the mainland market.That one is just speculation. London seems to be the spot for now but, I think a lot of waiting and seeing if and when this thing is going to happen, the company did take on a lot of funding from some big firms who one would assume at some point would like to see returns on the investment that they made, some of them as early as almost ten years ago now. Definitely, a lot of eyes watching where they go. For London, some people have asked why there. I think the stock market there is in pretty bad shape. It would be a big boom for the UK to get a big listing like this.The IPO would probably be very large. It would also maybe help the new government of the UK show that they are willing to do business with China and be a little bit more accommodating on the geopolitical front there. We talked about how Shein sits at the intersection of not just the fast fashion world, but also in the middle of a lot of hot geopolitical issues. One of those issues that I didn't fully realize until reading your story is about this loophole in import taxes and import duties that Shein gets to pay. Maybe you can walk us through this a bit. What is the de-minimis clause, and how is that relevant to the Shein story?Timothy McLaughlin: Yes, I should have mentioned de-minimis earlier. It is a piece of legislation or law, rather, in the United States that I think very few people really paid attention to except trade wanks and maybe some people in the freight import, export business until very recently because of the connections to China. What it allows for is for small packages to come into the United States if their value is below $800 is the threshold right now. They are subject to very little inspection entering the United States, and they are free from paying taxes and tariffs on those packages. With a website like Shein, where many of the items, as you said earlier, cost a few cents or a couple of dollars, you can obviously order a lot of stuff, and the company can ship it into the United States with very limited oversight and also avoiding paying taxes and tariffs on the items that are coming in. Critics call it a loophole.It was much lower until the Obama administration. It was part of a larger trade package that went through, Congress was signed into law by Barack Obama that raised the threshold. It used to be $200. It raised it up to 800. The feeling at the time was that the countries on the US border, Mexico and Canada would also do this. It would facilitate easier trade, and it would also allow Americans to travel abroad and bring back gifts and things like that without declaring them and going through paperwork. I should also say there was a huge amount of lobbying to get the number raised to 800 and even higher in some cases, by shipping companies like FedEx, who obviously benefit from the increased volume of packages that would be moving into the United States. It's sat at $800 for a long time. I don't think a lot of people really like I said, I think, you know, trade wonks and some other people were kind of interested in it became a massive issue really during the pandemic when people were at home, shopping online a lot, and we see this just huge uptick in packages that are coming into the United States using the de-minimis law.They're coming in this year, probably over 1 billion packages entering the United States. That caught the attention of a lot of lawmakers, again, given the tensions and the situation with China, asking, are these companies paying their fair share? I think that bit of it has been going on for a while now. There's been a lot of legislation that's been introduced. Not a lot of it really moved for various reasons. There are big business groups, again, express shippers who would like to see this stay. Now, I think what happened and why we're all of a sudden seeing a lot more movement on it.We saw the White House address it. Yesterday, the US economic insecurities on China, the Commission talked about it, as well. I think what has happened is lawmakers and people who are critics of this have started linking it to the fentanyl trade and saying that, hey, this is how fentanyl is getting into United States from China. They're bringing in either the product itself or the chemicals to make it is coming in through this means. When you link it to that and then you start having victims' families come and testify and talk to Congress and stuff, now suddenly there's a huge amount of interest in what is this and how can we change it? I think for the past couple of years it's been sitting there, there's been a lot of talk about it. It's gotten a lot of attention.It hasn't really moved. Now, all of a sudden, I think we're going to start seeing some changes because of, again, the geopolitical climate and linking this to something that's very serious. By the way, this is by no means saying that Temu, Shein, that anyone of these companies are involved in any way in the drug trade. I'm just saying that this is, I think, how lawmakers who are against this and critics of it have found a much more emotional emotive way to lobby on changing it, and that's gotten a lot more attention. I think that we already saw Biden announced some changes to it, who knows with the Trump administration, how that will go. But certainly seems to be a ton of cross-party support for doing something to change this.That would be a big blow for Shein and Temu although they're already pivoting. I would point people if they hadn't read it to the rest of the world story that came out I think this week or last week about using family warehouses, which are essentially houses of Chinese immigrants living in the United States and housing the packages there before they go out to shipment. The other issue here is that a lot of companies are shipping the products from China to Mexico or Canada, where they break the packages up into smaller pieces, then bring them into the United States. We see, again, lawmakers calling for some regulation on that, on other sides of the border. Certainly, an issue that I don't think is going away. Again, because it's being linked to fentanyl and the drug trade with China, I think it's going to see some changes coming up at some point.Mary Long: You've got this newer emotional side to it being brought up, but also in June 2023, just to put some numbers behind it and you cite these numbers in your reporting, the House Select Committee on the CCP found that in 2022, GAP paid $700 million in import duties. H&M paid $205 million. Shein and Temu paid nothing. We've already heard you mentioned, I don't know what the Trump administration is going to do. We've heard a lot about tariffs recently. I can't imagine that certainly being a sticking point moving forward. Tim McLaughlin, thanks so much for the time. Thanks so much for your reporting on this company. Though I'm sure parts of it were frustrating because it is indeed so mysterious but thanks for coming on and spending some time with us on Motley Fool Money. Really appreciate having you here.Timothy McLaughlin: Thanks so much. I appreciate it.Ricky Mulvey: We've got a link to Tim's story in the show notes if you want to check it out. As always, people on the program may have interests in stocks they talk about the Motley Fool may have formal recommendations for or against. Don't buy or sell stocks based solely on what you hear. All personal finance content follows Motley Fool editorial standards and are not approved by advertisers. The Motley Fool only picks products that it would personally recommend to friends like you. I'm Ricky Mulvey. Thanks for listening. We'll be back tomorrow.","news_type":1},"isVote":1,"tweetType":1,"viewCount":114,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362400193802248,"gmtCreate":1729512521478,"gmtModify":1729513007774,"author":{"id":"4141547829789112","authorId":"4141547829789112","name":"Roksnana","avatar":"https://community-static.tradeup.com/news/8d45ec43d9d33b5d6cde51ffb3f2f349","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4141547829789112","authorIdStr":"4141547829789112"},"themes":[],"htmlText":"\"ASML's constant price target changes reek of manipulation. Lack of transparency serves personal interests.\"[Thinking]&nbsp;&nbsp;","listText":"\"ASML's constant price target changes reek of manipulation. Lack of transparency serves personal interests.\"[Thinking]&nbsp;&nbsp;","text":"\"ASML's constant price target changes reek of manipulation. Lack of transparency serves personal interests.\"[Thinking]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/362400193802248","repostId":"2477058250","repostType":2,"repost":{"id":"2477058250","kind":"highlight","pubTimestamp":1729484876,"share":"https://ttm.financial/m/news/2477058250?lang=&edition=fundamental","pubTime":"2024-10-21 12:27","market":"fut","language":"en","title":"ASML Holding: Share Price Is Still Lofty Despite The Most Recent 16% Plunge","url":"https://stock-news.laohu8.com/highlight/detail?id=2477058250","media":"seekingalpha","summary":"ASML Holding's share price dropped 16% on 15 October 2024, losing 49.2 billion in market cap; investors should wait for further price corrections before buying.Despite a revenue surge in 3Q24, net boo","content":"<html><body><ul><li>ASML Holding's share price dropped 16% on 15 October 2024, losing €49.2 billion in market cap; investors should wait for further price corrections before buying.</li><li>Despite a revenue surge in 3Q24, net bookings fell by 52%, and future growth is expected to slow, with 2024 revenue growth projected at only 2.33%.</li><li>ASML is still highly dependent on China and will continue to face challenges due to stricter export controls, potentially affecting the company's sales.</li><li>Valuation analysis based on management's guidance suggests that, current share price is still lofty and there is a potential downside of 13.84%.</li></ul><p><figure><picture> <img fetchpriority=\"high\" height=\"3885px\" sizes=\"(max-width: 768px) calc(100vw - 36px), (max-width: 1024px) calc(100vw - 132px), (max-width: 1200px) calc(66.6vw - 72px), 600px\" src=\"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w750\" srcset=\"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w1536 1536w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w1280 1280w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w1080 1080w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w750 750w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w640 640w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w480 480w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w320 320w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w240 240w\" width=\"5825px\"/> </picture><figcaption> <p>Sundry Photography</p></figcaption></figure></p> <h2>Introduction</h2> <p>On 15 October 2024, the share price of ASML Holding (<span>NASDAQ:ASML</span>) (OTCPK:ASMLF) plunged by 16% after information related to the company's 3Q24 results was published earlier due to a technical error<span>. During this period, the company has lost about €49.2 billion in market capitalization.</span></p> <p>Given that most of the world's semiconductor foundries are dependent on ASML, this may represent a good opportunity for investors to accumulate shares. However, based on my analysis, I believe that investors should hold their horses and not be overly excited. In this report, I will demonstrate why we should wait for the prices to further correct before starting to accumulate shares of ASML.</p> <h2>Latest Developments</h2> <p><figure contenteditable=\"false\"><span><img contenteditable=\"false\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/20/59780092-17294098969644122.png\"/></span><figcaption><p>ASML Performance 4Q24 <span>(Earnings Presentation)</span></p></figcaption></figure></p> <p>In 3Q24, total revenues surged from €6.24 billion to €7.47 billion, representing a growth of 11.90% year-on-year. During this period, the company has sold 17 more lithography systems as compared to the same period last year. However, total net bookings plunged by 52% to €2.63 billion from €5.57 billion the same period last year. Gross margin declined from 51.87% the same period last year to 50.80% but was offset declines in operating expenses; total operating income margin remain at 32.70%.</p> <p>Looking forward, the company expects 4Q24 sales to range between €8.8 billion to €9.2 billion and gross margin to deteriorate further to between 49% and 50%. Despite lower gross margin, the company expects to spend lower on R&amp;D and SG&amp;A costs, offsetting deteriorations in gross margin.</p> <h2>ASML's Growth Rate To Continue Deteriorating</h2> <p>Although developments in artificial intelligence is likely to continue providing tailwinds for demand, it seems clear that the company's growth has peaked. ASML's 4Q24 sales guidance suggests that the company will likely post a revenue of €28.2 billion, representing a growth of only 2.33% this year. The slowdown in growth is primarily due to a slower recovery in the traditional non-AI related markets.</p> <p><figure contenteditable=\"false\"><picture> <img contenteditable=\"false\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/20/59780092-17294176757650776.png\"/> </picture><figcaption><p>ASML Historical Revenue Growth <span>(Company Filings)</span></p></figcaption></figure></p> <p>Over the past three years, we have seen an average growth of around 25% per annum. Moreover, the company expects to generate between €44 billion and €60 billion in sales by FY2030, representing an average growth of 13% per annum. It is clear that the company's growth has declined, and it is unlikely that we will continue to see an elevated growth rate of about 25%. After all, in the latest earnings call, Christophe Fouquet, Chief Executive of ASML, had said, \"without AI, the market would be very sad\".</p> <h2>'China Issue' To Continue Weighing On ASML</h2> <p>Apart from ASML's latest revenue woes, the company is also facing a lot of challenges due to export controls. The Dutch government has aligned with the United States and will prevent ASML from selling the company's more advanced machines to China; even older machines will be subjected to this regulation. The Dutch's Prime Minister, Dick Schoof, will also not allow ASML to service China's equipment when the company's license expires this year.</p> <p><figure contenteditable=\"false\"><span><img contenteditable=\"false\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/20/59780092-1729419452676056.png\"/></span><figcaption><p>ASML's Geographical Exposure <span>(Company Filings)</span></p></figcaption></figure></p> <p>More importantly, ASML's remains highly exposed to China. In 2024, close to half of the company's revenue is attributable to China. Despite stringent export controls and a slew of new regulations, the company's biggest market is still in China. Roger Dassen, ASML's Chief Financial Officer have stated that sales in China will normalize to 20% of total revenue from about 49%.</p> <p>It is important to highlight that this is based on the current regulatory environment. If regulations further tighten, there is a strong likelihood that sales will further deteriorate, falling short of the company's projections.</p> <h2>Markets Are Still Pricing In A Premium</h2> <p><figure contenteditable=\"false\"><span><img contenteditable=\"false\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/20/59780092-1729418423681526.png\"/></span><figcaption><p>Valuation Analysis <span>(Author's Projections)</span></p></figcaption></figure></p> <p>Even though the company has plunged by close to 16% since Tuesday, the current share price of €664.50 implies that the markets are extremely optimistic about the company's growth rate.</p> <p>If we assume: (1) the company's gross margin eventually reaches its target of 60% by FY2030, (2) current share price of €664.50, and (3) all other margins (e.g. SG&amp;A and R&amp;D) to maintain at its current level, a reverse valuation analysis will suggest that the market is pricing in a revenue growth of 16% per annum between FY2025 and FY2030. In other words, markets are pricing in a premium and expects the company to beat its revenue growth rate by 3% per annum for the next six years. To put it into context, markets are expecting ASML to generate €70 billion in revenues as compared to the company's guidance of €60 billion.</p> <h2>ASML Is A Cash Generator And Has A History Of Giving Back To Its Shareholders</h2> <p>Do not get me wrong, ASML has been an exceptional company that has a strong balance sheet and strong liquidity profile. Moreover, the company has stable margins and has proved to be able to effectively generate sustainable cashflows over the years. Over the past 10 years, the company has generated €35 billion in free cash flow.</p> <p><figure contenteditable=\"false\"><picture> <img contenteditable=\"false\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/20/59780092-1729421353363598.png\"/> </picture><figcaption><p>ASML's Historical Free Cash Flow <span>(Company Filings)</span></p></figcaption></figure></p> <p>Moreover, the company has a strong history of giving back to its shareholders. Over the past five years, the company's share buyback plan has reached a cumulative share buyback of €22.80 billion. ASML has also given back about a total of 10 billion in dividends over the past five years.</p> <h2>Valuation Based On Management's Guidance Suggests Share Price Is Lofty</h2> <p>Given that the management has provided so much color, I have utilized these inputs to conduct a valuation analysis of ASML's share price. My valuation model will be based on the following inputs: (1) revenue growth of 2.33% in FY2024 and 13.41% between FY2025 to FY2030, (2) gross margins to improve from 51.29% in FY2023 to 60% by FY30, (3) other margins such as SG&amp;A and R&amp;D to maintain at current levels, and (4) WACC of 8.57% and terminal growth rate of 5%.</p> <p><figure contenteditable=\"false\"><span><img contenteditable=\"false\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/20/59780092-17294223372009742.png\"/></span><figcaption><p>Valuation Analysis <span>(Author's Projections)</span></p></figcaption></figure></p> <p>Based on these assumptions, which are fairly generous with a terminal growth rate of 5%, the valuation model based on discounted cashflows suggests that the company's implied share price of €572.52. Based on the current share price of €664.50, it does seem that the price of ASML is still quite lofty.</p> <h2>Closing Remarks</h2> <p>ASML's share price has declined by about 16% in the most recent sell off, indicating a 33% of decrease from the company's peak in July 2024. Given the current artificial intelligence hype train and investors' interest in semiconductor related stocks, it is not surprising that many are using this opportunity to accumulate shares.</p> <p>However, I believe that market participants are still pricing in a strong premium in ASML's shares. Using inputs from the company's management, the implied share price is 572.52, representing a potential further downside of 13.84%. Given the lack of any margin of safety, investors should not get overly excited; I believe that it will be wise for us to hold out longer before we see the value that we want to capitalize.</p> <div></div> <p>Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.</p></body></html>","source":"seekingalpha","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>ASML Holding: Share Price Is Still Lofty Despite The Most Recent 16% Plunge</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nASML Holding: Share Price Is Still Lofty Despite The Most Recent 16% Plunge\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-21 12:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4727941-asml-q3-earnings-share-price-still-lofty-despite-most-recent-16-percent-plunge><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ASML Holding's share price dropped 16% on 15 October 2024, losing €49.2 billion in market cap; investors should wait for further price corrections before buying.Despite a revenue surge in 3Q24, net ...</p>\n\n<a href=\"https://seekingalpha.com/article/4727941-asml-q3-earnings-share-price-still-lofty-despite-most-recent-16-percent-plunge\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg","relate_stocks":{"IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU1734074674.USD":"NINETY ONE GSF ASIA PACIFIC FRANCHISE \"A\"(USD) ACC","03165":"华夏欧优股对冲","BK4585":"ETF&股票定投概念","BK4147":"半导体设备","ASML":"阿斯麦","BK4588":"碎股","ASMLF":"ASML Holding N.V.","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU2063271972.USD":"富兰克林创新领域基金"},"source_url":"https://seekingalpha.com/article/4727941-asml-q3-earnings-share-price-still-lofty-despite-most-recent-16-percent-plunge","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2477058250","content_text":"ASML Holding's share price dropped 16% on 15 October 2024, losing €49.2 billion in market cap; investors should wait for further price corrections before buying.Despite a revenue surge in 3Q24, net bookings fell by 52%, and future growth is expected to slow, with 2024 revenue growth projected at only 2.33%.ASML is still highly dependent on China and will continue to face challenges due to stricter export controls, potentially affecting the company's sales.Valuation analysis based on management's guidance suggests that, current share price is still lofty and there is a potential downside of 13.84%.   Sundry Photography Introduction On 15 October 2024, the share price of ASML Holding (NASDAQ:ASML) (OTCPK:ASMLF) plunged by 16% after information related to the company's 3Q24 results was published earlier due to a technical error. During this period, the company has lost about €49.2 billion in market capitalization. Given that most of the world's semiconductor foundries are dependent on ASML, this may represent a good opportunity for investors to accumulate shares. However, based on my analysis, I believe that investors should hold their horses and not be overly excited. In this report, I will demonstrate why we should wait for the prices to further correct before starting to accumulate shares of ASML. Latest Developments ASML Performance 4Q24 (Earnings Presentation) In 3Q24, total revenues surged from €6.24 billion to €7.47 billion, representing a growth of 11.90% year-on-year. During this period, the company has sold 17 more lithography systems as compared to the same period last year. However, total net bookings plunged by 52% to €2.63 billion from €5.57 billion the same period last year. Gross margin declined from 51.87% the same period last year to 50.80% but was offset declines in operating expenses; total operating income margin remain at 32.70%. Looking forward, the company expects 4Q24 sales to range between €8.8 billion to €9.2 billion and gross margin to deteriorate further to between 49% and 50%. Despite lower gross margin, the company expects to spend lower on R&D and SG&A costs, offsetting deteriorations in gross margin. ASML's Growth Rate To Continue Deteriorating Although developments in artificial intelligence is likely to continue providing tailwinds for demand, it seems clear that the company's growth has peaked. ASML's 4Q24 sales guidance suggests that the company will likely post a revenue of €28.2 billion, representing a growth of only 2.33% this year. The slowdown in growth is primarily due to a slower recovery in the traditional non-AI related markets.   ASML Historical Revenue Growth (Company Filings) Over the past three years, we have seen an average growth of around 25% per annum. Moreover, the company expects to generate between €44 billion and €60 billion in sales by FY2030, representing an average growth of 13% per annum. It is clear that the company's growth has declined, and it is unlikely that we will continue to see an elevated growth rate of about 25%. After all, in the latest earnings call, Christophe Fouquet, Chief Executive of ASML, had said, \"without AI, the market would be very sad\". 'China Issue' To Continue Weighing On ASML Apart from ASML's latest revenue woes, the company is also facing a lot of challenges due to export controls. The Dutch government has aligned with the United States and will prevent ASML from selling the company's more advanced machines to China; even older machines will be subjected to this regulation. The Dutch's Prime Minister, Dick Schoof, will also not allow ASML to service China's equipment when the company's license expires this year. ASML's Geographical Exposure (Company Filings) More importantly, ASML's remains highly exposed to China. In 2024, close to half of the company's revenue is attributable to China. Despite stringent export controls and a slew of new regulations, the company's biggest market is still in China. Roger Dassen, ASML's Chief Financial Officer have stated that sales in China will normalize to 20% of total revenue from about 49%. It is important to highlight that this is based on the current regulatory environment. If regulations further tighten, there is a strong likelihood that sales will further deteriorate, falling short of the company's projections. Markets Are Still Pricing In A Premium Valuation Analysis (Author's Projections) Even though the company has plunged by close to 16% since Tuesday, the current share price of €664.50 implies that the markets are extremely optimistic about the company's growth rate. If we assume: (1) the company's gross margin eventually reaches its target of 60% by FY2030, (2) current share price of €664.50, and (3) all other margins (e.g. SG&A and R&D) to maintain at its current level, a reverse valuation analysis will suggest that the market is pricing in a revenue growth of 16% per annum between FY2025 and FY2030. In other words, markets are pricing in a premium and expects the company to beat its revenue growth rate by 3% per annum for the next six years. To put it into context, markets are expecting ASML to generate €70 billion in revenues as compared to the company's guidance of €60 billion. ASML Is A Cash Generator And Has A History Of Giving Back To Its Shareholders Do not get me wrong, ASML has been an exceptional company that has a strong balance sheet and strong liquidity profile. Moreover, the company has stable margins and has proved to be able to effectively generate sustainable cashflows over the years. Over the past 10 years, the company has generated €35 billion in free cash flow.   ASML's Historical Free Cash Flow (Company Filings) Moreover, the company has a strong history of giving back to its shareholders. Over the past five years, the company's share buyback plan has reached a cumulative share buyback of €22.80 billion. ASML has also given back about a total of 10 billion in dividends over the past five years. Valuation Based On Management's Guidance Suggests Share Price Is Lofty Given that the management has provided so much color, I have utilized these inputs to conduct a valuation analysis of ASML's share price. My valuation model will be based on the following inputs: (1) revenue growth of 2.33% in FY2024 and 13.41% between FY2025 to FY2030, (2) gross margins to improve from 51.29% in FY2023 to 60% by FY30, (3) other margins such as SG&A and R&D to maintain at current levels, and (4) WACC of 8.57% and terminal growth rate of 5%. Valuation Analysis (Author's Projections) Based on these assumptions, which are fairly generous with a terminal growth rate of 5%, the valuation model based on discounted cashflows suggests that the company's implied share price of €572.52. Based on the current share price of €664.50, it does seem that the price of ASML is still quite lofty. Closing Remarks ASML's share price has declined by about 16% in the most recent sell off, indicating a 33% of decrease from the company's peak in July 2024. Given the current artificial intelligence hype train and investors' interest in semiconductor related stocks, it is not surprising that many are using this opportunity to accumulate shares. However, I believe that market participants are still pricing in a strong premium in ASML's shares. Using inputs from the company's management, the implied share price is 572.52, representing a potential further downside of 13.84%. Given the lack of any margin of safety, investors should not get overly excited; I believe that it will be wise for us to hold out longer before we see the value that we want to capitalize.  Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":353,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358986863136944,"gmtCreate":1728651276427,"gmtModify":1728651877360,"author":{"id":"4141547829789112","authorId":"4141547829789112","name":"Roksnana","avatar":"https://community-static.tradeup.com/news/8d45ec43d9d33b5d6cde51ffb3f2f349","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4141547829789112","authorIdStr":"4141547829789112"},"themes":[],"htmlText":"Shouldn't we consider the social implications of&nbsp; destruction of taxi industry.How will Tesla support driver affected&nbsp;by this technological shift.","listText":"Shouldn't we consider the social implications of&nbsp; destruction of taxi industry.How will Tesla support driver affected&nbsp;by this technological shift.","text":"Shouldn't we consider the social implications of destruction of taxi industry.How will Tesla support driver affected by this technological shift.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/358986863136944","repostId":"2474067566","repostType":2,"repost":{"id":"2474067566","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1728645840,"share":"https://ttm.financial/m/news/2474067566?lang=&edition=fundamental","pubTime":"2024-10-11 19:24","market":"other","language":"en","title":"Tesla's Robotaxi Event Disappoints Investors","url":"https://stock-news.laohu8.com/highlight/detail?id=2474067566","media":"Dow Jones","summary":"Wall Street's early reaction to Elon Musk's  robotaxi reveal?Shares in Tesla fell roughly 6% in premarket trading Friday following an event that was heavier on showbiz but lighter on business than investors had hoped after months of buildup. The overnight stock drop points to about a $40 billion slump in the electric-car maker's valuation at the open.Tesla on Thursday evening revealed a two-seat vehicle without a steering wheel or pedals at a tightly choreographed product launch in Los Angeles.Following a strategic pivot toward robotics and autonomy this year, Musk had billed the event as Tesla's most significant since the launch of its benchmark-setting Model 3 in 2017. For investors, a move into robotaxis offers one way to justify Tesla's $763 billion market value. After a rally in the stock in anticipation of the event, Musk's company is worth almost three times as much as Toyota, the world's best-selling car maker.\"We were disappointed by the lack of detail regarding Tesla's near-t","content":"<html><head></head><body><p>Wall Street&#39;s early reaction to Elon Musk&#39;s robotaxi reveal? Disappointment.</p><p>Shares in Tesla fell roughly 6% in premarket trading Friday following an event that was heavier on showbiz but lighter on business than investors had hoped after months of buildup. The overnight stock drop points to about a $40 billion slump in the electric-car maker&#39;s valuation at the open.</p><p>Tesla on Thursday evening revealed a two-seat vehicle without a steering wheel or pedals at a tightly choreographed product launch in Los Angeles.</p><p>Following a strategic pivot toward robotics and autonomy this year, Musk had billed the event as Tesla&#39;s most significant since the launch of its benchmark-setting Model 3 in 2017. For investors, a move into robotaxis offers one way to justify Tesla&#39;s $763 billion market value. After a rally in the stock in anticipation of the event, Musk&#39;s company is worth almost three times as much as Toyota, the world&#39;s best-selling car maker.</p><p>&#34;Investors we spoke to at the event thought the event was light of real numbers and timelines. These typically come at Tesla events. This one seemed focused on branding and marketing Tesla&#39;s vision,&#34; said Tom Narayan, an analyst at Royal Bank of Canada.</p><p>In a roughly half-hour presentation, Musk painted a picture of a green, sunny future in which autonomous vehicles eliminate parking lots and rush-hour traffic. Among the few concrete details were that Tesla&#39;s Cybercab would enter production in 2026 and sell for less than $30,000.</p><p>To achieve those goals, Tesla will have to master two formidable technical challenges: cutting the production cost of electric vehicles, and making them drive themselves without human intervention to a safety level capable of satisfying risk-averse regulators. Musk didn&#39;t give his guests at the robotaxi event evidence of progress on either score.</p><p>The most advanced version of Tesla&#39;s current driver-automation software, which it calls &#34;full-self driving (supervised),&#34; requires the attention of a human driver as a backup. Musk said Thursday that an unsupervised version of FSD would be released in California and Texas next year. The Tesla chief executive has a decadelong record of missing such deadlines, leading to skepticism from analysts.</p><p>&#34;Making the leap from where we are today to full autonomy (particularly through unsupervised vehicles with zero steering or pedals) is so gargantuan, technology-wise, that it feels overly ambitious in such a short period of time,&#34; wrote Jessica Caldwell, head of insights at car-shopping site Edmunds.</p><p>Those expecting hints about the progress of a lower-cost Tesla that does include a driving wheel and pedals were also left frustrated. The company still hasn&#39;t previewed the model, which Musk in July said would come out next year.</p><p>&#34;We were disappointed by the lack of detail regarding Tesla&#39;s near-term product road map,&#34; wrote CFRA analyst Garrett Nelson.</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>Tesla's Robotaxi Event Disappoints Investors</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\">\nTesla's Robotaxi Event Disappoints Investors\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-10-11 19:24</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Wall Street&#39;s early reaction to Elon Musk&#39;s robotaxi reveal? Disappointment.</p><p>Shares in Tesla fell roughly 6% in premarket trading Friday following an event that was heavier on showbiz but lighter on business than investors had hoped after months of buildup. The overnight stock drop points to about a $40 billion slump in the electric-car maker&#39;s valuation at the open.</p><p>Tesla on Thursday evening revealed a two-seat vehicle without a steering wheel or pedals at a tightly choreographed product launch in Los Angeles.</p><p>Following a strategic pivot toward robotics and autonomy this year, Musk had billed the event as Tesla&#39;s most significant since the launch of its benchmark-setting Model 3 in 2017. For investors, a move into robotaxis offers one way to justify Tesla&#39;s $763 billion market value. After a rally in the stock in anticipation of the event, Musk&#39;s company is worth almost three times as much as Toyota, the world&#39;s best-selling car maker.</p><p>&#34;Investors we spoke to at the event thought the event was light of real numbers and timelines. These typically come at Tesla events. This one seemed focused on branding and marketing Tesla&#39;s vision,&#34; said Tom Narayan, an analyst at Royal Bank of Canada.</p><p>In a roughly half-hour presentation, Musk painted a picture of a green, sunny future in which autonomous vehicles eliminate parking lots and rush-hour traffic. Among the few concrete details were that Tesla&#39;s Cybercab would enter production in 2026 and sell for less than $30,000.</p><p>To achieve those goals, Tesla will have to master two formidable technical challenges: cutting the production cost of electric vehicles, and making them drive themselves without human intervention to a safety level capable of satisfying risk-averse regulators. Musk didn&#39;t give his guests at the robotaxi event evidence of progress on either score.</p><p>The most advanced version of Tesla&#39;s current driver-automation software, which it calls &#34;full-self driving (supervised),&#34; requires the attention of a human driver as a backup. Musk said Thursday that an unsupervised version of FSD would be released in California and Texas next year. The Tesla chief executive has a decadelong record of missing such deadlines, leading to skepticism from analysts.</p><p>&#34;Making the leap from where we are today to full autonomy (particularly through unsupervised vehicles with zero steering or pedals) is so gargantuan, technology-wise, that it feels overly ambitious in such a short period of time,&#34; wrote Jessica Caldwell, head of insights at car-shopping site Edmunds.</p><p>Those expecting hints about the progress of a lower-cost Tesla that does include a driving wheel and pedals were also left frustrated. The company still hasn&#39;t previewed the model, which Musk in July said would come out next year.</p><p>&#34;We were disappointed by the lack of detail regarding Tesla&#39;s near-term product road map,&#34; wrote CFRA analyst Garrett Nelson.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4581":"高盛持仓","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2063271972.USD":"富兰克林创新领域基金","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","BK4592":"伊斯兰概念","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","BK4211":"区域性银行","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4527":"明星科技股","BK4588":"碎股","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4574":"无人驾驶","LU0056508442.USD":"贝莱德世界科技基金A2"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2474067566","content_text":"Wall Street's early reaction to Elon Musk's robotaxi reveal? Disappointment.Shares in Tesla fell roughly 6% in premarket trading Friday following an event that was heavier on showbiz but lighter on business than investors had hoped after months of buildup. The overnight stock drop points to about a $40 billion slump in the electric-car maker's valuation at the open.Tesla on Thursday evening revealed a two-seat vehicle without a steering wheel or pedals at a tightly choreographed product launch in Los Angeles.Following a strategic pivot toward robotics and autonomy this year, Musk had billed the event as Tesla's most significant since the launch of its benchmark-setting Model 3 in 2017. For investors, a move into robotaxis offers one way to justify Tesla's $763 billion market value. After a rally in the stock in anticipation of the event, Musk's company is worth almost three times as much as Toyota, the world's best-selling car maker.\"Investors we spoke to at the event thought the event was light of real numbers and timelines. These typically come at Tesla events. This one seemed focused on branding and marketing Tesla's vision,\" said Tom Narayan, an analyst at Royal Bank of Canada.In a roughly half-hour presentation, Musk painted a picture of a green, sunny future in which autonomous vehicles eliminate parking lots and rush-hour traffic. Among the few concrete details were that Tesla's Cybercab would enter production in 2026 and sell for less than $30,000.To achieve those goals, Tesla will have to master two formidable technical challenges: cutting the production cost of electric vehicles, and making them drive themselves without human intervention to a safety level capable of satisfying risk-averse regulators. Musk didn't give his guests at the robotaxi event evidence of progress on either score.The most advanced version of Tesla's current driver-automation software, which it calls \"full-self driving (supervised),\" requires the attention of a human driver as a backup. Musk said Thursday that an unsupervised version of FSD would be released in California and Texas next year. The Tesla chief executive has a decadelong record of missing such deadlines, leading to skepticism from analysts.\"Making the leap from where we are today to full autonomy (particularly through unsupervised vehicles with zero steering or pedals) is so gargantuan, technology-wise, that it feels overly ambitious in such a short period of time,\" wrote Jessica Caldwell, head of insights at car-shopping site Edmunds.Those expecting hints about the progress of a lower-cost Tesla that does include a driving wheel and pedals were also left frustrated. The company still hasn't previewed the model, which Musk in July said would come out next year.\"We were disappointed by the lack of detail regarding Tesla's near-term product road map,\" wrote CFRA analyst Garrett Nelson.","news_type":1},"isVote":1,"tweetType":1,"viewCount":187,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576140222331577","authorId":"3576140222331577","name":"Guavaxf30","avatar":"https://static.tigerbbs.com/1ff15ff6aa254c9130f9af922f7e2447","crmLevel":9,"crmLevelSwitch":1,"idStr":"3576140222331577","authorIdStr":"3576140222331577"},"content":"Elon Musk does not care about them. Look at what he did to Twitter staff. Also how his existing Tesla staff are treated.","text":"Elon Musk does not care about them. Look at what he did to Twitter staff. Also how his existing Tesla staff are treated.","html":"Elon Musk does not care about them. Look at what he did to Twitter staff. Also how his existing Tesla staff are treated."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344031033483312,"gmtCreate":1725016494547,"gmtModify":1725017982183,"author":{"id":"4141547829789112","authorId":"4141547829789112","name":"Roksnana","avatar":"https://community-static.tradeup.com/news/8d45ec43d9d33b5d6cde51ffb3f2f349","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4141547829789112","authorIdStr":"4141547829789112"},"themes":[],"htmlText":"\"Market manipulation persists as some exploit pump and dump schemes, preying on unsuspecting investors. Transparency and accountability are crucial to protecting retail investors and maintaining a fair market.\"[Allin]&nbsp;&nbsp;","listText":"\"Market manipulation persists as some exploit pump and dump schemes, preying on unsuspecting investors. Transparency and accountability are crucial to protecting retail investors and maintaining a fair market.\"[Allin]&nbsp;&nbsp;","text":"\"Market manipulation persists as some exploit pump and dump schemes, preying on unsuspecting investors. Transparency and accountability are crucial to protecting retail investors and maintaining a fair market.\"[Allin]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/344031033483312","repostId":"2463990784","repostType":2,"repost":{"id":"2463990784","kind":"highlight","pubTimestamp":1725012738,"share":"https://ttm.financial/m/news/2463990784?lang=&edition=fundamental","pubTime":"2024-08-30 18:12","market":"hk","language":"en","title":"Nasdaq, S&P, Dow futures in green ahead of inflation report","url":"https://stock-news.laohu8.com/highlight/detail?id=2463990784","media":"seekingalpha","summary":"Stock index futures were higher on Friday, as traders look forward to the key inflation data slated to come later in the day. S&P 500 futures (SPX) +0.5%, Nasdaq 100 futures (US100:IND) +0.7% and Dow ","content":"<html><body><p>Stock index futures were higher on Friday, as traders look forward to the key inflation data slated to come later in the day.</p> <p>S&amp;P 500 futures (<span>SPX</span>) <span>+0.5%</span>, Nasdaq 100 futures (US100:IND) <span>+0.7%</span> and Dow futures (<span>INDU</span>) <span>+0.2%</span>.</p> <p>The 10-year Treasury yield (US10Y<span>) was unchanged at 3.86%. The 2-year yield (</span>US2Y<span>) was flat at 3.91%.</span></p> <p>U.S. stocks on Thursday ended mixed, as an afternoon bout of selling ate into strong gains earlier, after a post-earnings drop in chip giant Nvidia (NVDA) intensified through the session and offset a boost to sentiment from data that showed a more robust expansion in the economy in the second quarter than previously estimated.</p> <p>\"Risk assets put in a decent performance over the last 24 hours, as solid US data outweighed investors’ disappointment about Nvidia’s latest results,\" Deutsche Bank's Henry Allen said.</p> <p>\"With all that data in hand, the general perception was that the economy was doing better than thought, and that a larger 50bp cut from the Federal Reserve was now less likely,\" Allen said.</p> <p>Investors are now bracing for the July core personal consumption expenditure price index report, which will land before the bell. </p> <p>The Fed's favored inflation gauge is expected to show a 0.2% M/M increase in July, the same growth rate as in June. On a Y/Y basis, that's expected to be 2.7%, up a tick from 2.6% in June. Core PCE strips out food and energy prices, which can swing significantly from month to month.</p> <p>Including food and energy, the PCE price index is expected to rise 0.2% in July, up from 0.1% in June, and 2.5% Y/Y, unchanged from the prior month.</p> <p>\"Disinflation data continues today. The July personal consumer expenditure deflator is expected to show fairly stable inflation rates. It is worth remembering that if inflation falls because of owners’ equivalent rent, this does not change the spending power of any U.S. household,\" UBS' Paul Donovan said.</p> <p>Other economic reports for today include the August Chicago PMI and the August consumer sentiment. The former is expected to come in at 45, while the latter is anticipated at 67.8.</p> </body></html>","source":"seekingalpha","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>Nasdaq, S&P, Dow futures in green ahead of inflation report</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\">\nNasdaq, S&P, Dow futures in green ahead of inflation report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-30 18:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4145384-sp500-nasdaq-dow-jones-outlook-stock-market-pce><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stock index futures were higher on Friday, as traders look forward to the key inflation data slated to come later in the day. S&P 500 futures (SPX) +0.5%, Nasdaq 100 futures (US100:IND) +0.7% and Dow ...</p>\n\n<a href=\"https://seekingalpha.com/news/4145384-sp500-nasdaq-dow-jones-outlook-stock-market-pce\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/668600179/image_668600179.jpg","relate_stocks":{"BK4534":"瑞士信贷持仓","QLD":"纳指两倍做多ETF","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","LU0079474960.USD":"联博美国增长基金A","BK4527":"明星科技股","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4141":"半导体产品","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","IE00BYXW3230.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"AA\" (USD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","NDAQ":"纳斯达克OMX交易所","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","QID":"纳指两倍做空ETF","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","TQQQ":"纳指三倍做多ETF","NDX":"纳斯达克100指数","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0057025933.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","PSQ":"纳指反向ETF","NVDA":"英伟达",".IXIC":"NASDAQ Composite","SQQQ":"纳指三倍做空ETF"},"source_url":"https://seekingalpha.com/news/4145384-sp500-nasdaq-dow-jones-outlook-stock-market-pce","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2463990784","content_text":"Stock index futures were higher on Friday, as traders look forward to the key inflation data slated to come later in the day. S&P 500 futures (SPX) +0.5%, Nasdaq 100 futures (US100:IND) +0.7% and Dow futures (INDU) +0.2%. The 10-year Treasury yield (US10Y) was unchanged at 3.86%. The 2-year yield (US2Y) was flat at 3.91%. U.S. stocks on Thursday ended mixed, as an afternoon bout of selling ate into strong gains earlier, after a post-earnings drop in chip giant Nvidia (NVDA) intensified through the session and offset a boost to sentiment from data that showed a more robust expansion in the economy in the second quarter than previously estimated. \"Risk assets put in a decent performance over the last 24 hours, as solid US data outweighed investors’ disappointment about Nvidia’s latest results,\" Deutsche Bank's Henry Allen said. \"With all that data in hand, the general perception was that the economy was doing better than thought, and that a larger 50bp cut from the Federal Reserve was now less likely,\" Allen said. Investors are now bracing for the July core personal consumption expenditure price index report, which will land before the bell.  The Fed's favored inflation gauge is expected to show a 0.2% M/M increase in July, the same growth rate as in June. On a Y/Y basis, that's expected to be 2.7%, up a tick from 2.6% in June. Core PCE strips out food and energy prices, which can swing significantly from month to month. Including food and energy, the PCE price index is expected to rise 0.2% in July, up from 0.1% in June, and 2.5% Y/Y, unchanged from the prior month. \"Disinflation data continues today. The July personal consumer expenditure deflator is expected to show fairly stable inflation rates. It is worth remembering that if inflation falls because of owners’ equivalent rent, this does not change the spending power of any U.S. household,\" UBS' Paul Donovan said. Other economic reports for today include the August Chicago PMI and the August consumer sentiment. The former is expected to come in at 45, while the latter is anticipated at 67.8.","news_type":1},"isVote":1,"tweetType":1,"viewCount":316,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":358986863136944,"gmtCreate":1728651276427,"gmtModify":1728651877360,"author":{"id":"4141547829789112","authorId":"4141547829789112","name":"Roksnana","avatar":"https://community-static.tradeup.com/news/8d45ec43d9d33b5d6cde51ffb3f2f349","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4141547829789112","authorIdStr":"4141547829789112"},"themes":[],"htmlText":"Shouldn't we consider the social implications of&nbsp; destruction of taxi industry.How will Tesla support driver affected&nbsp;by this technological shift.","listText":"Shouldn't we consider the social implications of&nbsp; destruction of taxi industry.How will Tesla support driver affected&nbsp;by this technological shift.","text":"Shouldn't we consider the social implications of destruction of taxi industry.How will Tesla support driver affected by this technological shift.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/358986863136944","repostId":"2474067566","repostType":2,"repost":{"id":"2474067566","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1728645840,"share":"https://ttm.financial/m/news/2474067566?lang=&edition=fundamental","pubTime":"2024-10-11 19:24","market":"other","language":"en","title":"Tesla's Robotaxi Event Disappoints Investors","url":"https://stock-news.laohu8.com/highlight/detail?id=2474067566","media":"Dow Jones","summary":"Wall Street's early reaction to Elon Musk's  robotaxi reveal?Shares in Tesla fell roughly 6% in premarket trading Friday following an event that was heavier on showbiz but lighter on business than investors had hoped after months of buildup. The overnight stock drop points to about a $40 billion slump in the electric-car maker's valuation at the open.Tesla on Thursday evening revealed a two-seat vehicle without a steering wheel or pedals at a tightly choreographed product launch in Los Angeles.Following a strategic pivot toward robotics and autonomy this year, Musk had billed the event as Tesla's most significant since the launch of its benchmark-setting Model 3 in 2017. For investors, a move into robotaxis offers one way to justify Tesla's $763 billion market value. After a rally in the stock in anticipation of the event, Musk's company is worth almost three times as much as Toyota, the world's best-selling car maker.\"We were disappointed by the lack of detail regarding Tesla's near-t","content":"<html><head></head><body><p>Wall Street&#39;s early reaction to Elon Musk&#39;s robotaxi reveal? Disappointment.</p><p>Shares in Tesla fell roughly 6% in premarket trading Friday following an event that was heavier on showbiz but lighter on business than investors had hoped after months of buildup. The overnight stock drop points to about a $40 billion slump in the electric-car maker&#39;s valuation at the open.</p><p>Tesla on Thursday evening revealed a two-seat vehicle without a steering wheel or pedals at a tightly choreographed product launch in Los Angeles.</p><p>Following a strategic pivot toward robotics and autonomy this year, Musk had billed the event as Tesla&#39;s most significant since the launch of its benchmark-setting Model 3 in 2017. For investors, a move into robotaxis offers one way to justify Tesla&#39;s $763 billion market value. After a rally in the stock in anticipation of the event, Musk&#39;s company is worth almost three times as much as Toyota, the world&#39;s best-selling car maker.</p><p>&#34;Investors we spoke to at the event thought the event was light of real numbers and timelines. These typically come at Tesla events. This one seemed focused on branding and marketing Tesla&#39;s vision,&#34; said Tom Narayan, an analyst at Royal Bank of Canada.</p><p>In a roughly half-hour presentation, Musk painted a picture of a green, sunny future in which autonomous vehicles eliminate parking lots and rush-hour traffic. Among the few concrete details were that Tesla&#39;s Cybercab would enter production in 2026 and sell for less than $30,000.</p><p>To achieve those goals, Tesla will have to master two formidable technical challenges: cutting the production cost of electric vehicles, and making them drive themselves without human intervention to a safety level capable of satisfying risk-averse regulators. Musk didn&#39;t give his guests at the robotaxi event evidence of progress on either score.</p><p>The most advanced version of Tesla&#39;s current driver-automation software, which it calls &#34;full-self driving (supervised),&#34; requires the attention of a human driver as a backup. Musk said Thursday that an unsupervised version of FSD would be released in California and Texas next year. The Tesla chief executive has a decadelong record of missing such deadlines, leading to skepticism from analysts.</p><p>&#34;Making the leap from where we are today to full autonomy (particularly through unsupervised vehicles with zero steering or pedals) is so gargantuan, technology-wise, that it feels overly ambitious in such a short period of time,&#34; wrote Jessica Caldwell, head of insights at car-shopping site Edmunds.</p><p>Those expecting hints about the progress of a lower-cost Tesla that does include a driving wheel and pedals were also left frustrated. The company still hasn&#39;t previewed the model, which Musk in July said would come out next year.</p><p>&#34;We were disappointed by the lack of detail regarding Tesla&#39;s near-term product road map,&#34; wrote CFRA analyst Garrett Nelson.</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>Tesla's Robotaxi Event Disappoints Investors</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\">\nTesla's Robotaxi Event Disappoints Investors\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-10-11 19:24</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Wall Street&#39;s early reaction to Elon Musk&#39;s robotaxi reveal? Disappointment.</p><p>Shares in Tesla fell roughly 6% in premarket trading Friday following an event that was heavier on showbiz but lighter on business than investors had hoped after months of buildup. The overnight stock drop points to about a $40 billion slump in the electric-car maker&#39;s valuation at the open.</p><p>Tesla on Thursday evening revealed a two-seat vehicle without a steering wheel or pedals at a tightly choreographed product launch in Los Angeles.</p><p>Following a strategic pivot toward robotics and autonomy this year, Musk had billed the event as Tesla&#39;s most significant since the launch of its benchmark-setting Model 3 in 2017. For investors, a move into robotaxis offers one way to justify Tesla&#39;s $763 billion market value. After a rally in the stock in anticipation of the event, Musk&#39;s company is worth almost three times as much as Toyota, the world&#39;s best-selling car maker.</p><p>&#34;Investors we spoke to at the event thought the event was light of real numbers and timelines. These typically come at Tesla events. This one seemed focused on branding and marketing Tesla&#39;s vision,&#34; said Tom Narayan, an analyst at Royal Bank of Canada.</p><p>In a roughly half-hour presentation, Musk painted a picture of a green, sunny future in which autonomous vehicles eliminate parking lots and rush-hour traffic. Among the few concrete details were that Tesla&#39;s Cybercab would enter production in 2026 and sell for less than $30,000.</p><p>To achieve those goals, Tesla will have to master two formidable technical challenges: cutting the production cost of electric vehicles, and making them drive themselves without human intervention to a safety level capable of satisfying risk-averse regulators. Musk didn&#39;t give his guests at the robotaxi event evidence of progress on either score.</p><p>The most advanced version of Tesla&#39;s current driver-automation software, which it calls &#34;full-self driving (supervised),&#34; requires the attention of a human driver as a backup. Musk said Thursday that an unsupervised version of FSD would be released in California and Texas next year. The Tesla chief executive has a decadelong record of missing such deadlines, leading to skepticism from analysts.</p><p>&#34;Making the leap from where we are today to full autonomy (particularly through unsupervised vehicles with zero steering or pedals) is so gargantuan, technology-wise, that it feels overly ambitious in such a short period of time,&#34; wrote Jessica Caldwell, head of insights at car-shopping site Edmunds.</p><p>Those expecting hints about the progress of a lower-cost Tesla that does include a driving wheel and pedals were also left frustrated. The company still hasn&#39;t previewed the model, which Musk in July said would come out next year.</p><p>&#34;We were disappointed by the lack of detail regarding Tesla&#39;s near-term product road map,&#34; wrote CFRA analyst Garrett Nelson.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4581":"高盛持仓","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU2063271972.USD":"富兰克林创新领域基金","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","BK4592":"伊斯兰概念","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","BK4211":"区域性银行","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4527":"明星科技股","BK4588":"碎股","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4574":"无人驾驶","LU0056508442.USD":"贝莱德世界科技基金A2"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2474067566","content_text":"Wall Street's early reaction to Elon Musk's robotaxi reveal? Disappointment.Shares in Tesla fell roughly 6% in premarket trading Friday following an event that was heavier on showbiz but lighter on business than investors had hoped after months of buildup. The overnight stock drop points to about a $40 billion slump in the electric-car maker's valuation at the open.Tesla on Thursday evening revealed a two-seat vehicle without a steering wheel or pedals at a tightly choreographed product launch in Los Angeles.Following a strategic pivot toward robotics and autonomy this year, Musk had billed the event as Tesla's most significant since the launch of its benchmark-setting Model 3 in 2017. For investors, a move into robotaxis offers one way to justify Tesla's $763 billion market value. After a rally in the stock in anticipation of the event, Musk's company is worth almost three times as much as Toyota, the world's best-selling car maker.\"Investors we spoke to at the event thought the event was light of real numbers and timelines. These typically come at Tesla events. This one seemed focused on branding and marketing Tesla's vision,\" said Tom Narayan, an analyst at Royal Bank of Canada.In a roughly half-hour presentation, Musk painted a picture of a green, sunny future in which autonomous vehicles eliminate parking lots and rush-hour traffic. Among the few concrete details were that Tesla's Cybercab would enter production in 2026 and sell for less than $30,000.To achieve those goals, Tesla will have to master two formidable technical challenges: cutting the production cost of electric vehicles, and making them drive themselves without human intervention to a safety level capable of satisfying risk-averse regulators. Musk didn't give his guests at the robotaxi event evidence of progress on either score.The most advanced version of Tesla's current driver-automation software, which it calls \"full-self driving (supervised),\" requires the attention of a human driver as a backup. Musk said Thursday that an unsupervised version of FSD would be released in California and Texas next year. The Tesla chief executive has a decadelong record of missing such deadlines, leading to skepticism from analysts.\"Making the leap from where we are today to full autonomy (particularly through unsupervised vehicles with zero steering or pedals) is so gargantuan, technology-wise, that it feels overly ambitious in such a short period of time,\" wrote Jessica Caldwell, head of insights at car-shopping site Edmunds.Those expecting hints about the progress of a lower-cost Tesla that does include a driving wheel and pedals were also left frustrated. The company still hasn't previewed the model, which Musk in July said would come out next year.\"We were disappointed by the lack of detail regarding Tesla's near-term product road map,\" wrote CFRA analyst Garrett Nelson.","news_type":1},"isVote":1,"tweetType":1,"viewCount":187,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576140222331577","authorId":"3576140222331577","name":"Guavaxf30","avatar":"https://static.tigerbbs.com/1ff15ff6aa254c9130f9af922f7e2447","crmLevel":9,"crmLevelSwitch":1,"idStr":"3576140222331577","authorIdStr":"3576140222331577"},"content":"Elon Musk does not care about them. Look at what he did to Twitter staff. Also how his existing Tesla staff are treated.","text":"Elon Musk does not care about them. Look at what he did to Twitter staff. Also how his existing Tesla staff are treated.","html":"Elon Musk does not care about them. Look at what he did to Twitter staff. Also how his existing Tesla staff are treated."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377272483324216,"gmtCreate":1733135875468,"gmtModify":1733144415707,"author":{"id":"4141547829789112","authorId":"4141547829789112","name":"Roksnana","avatar":"https://community-static.tradeup.com/news/8d45ec43d9d33b5d6cde51ffb3f2f349","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4141547829789112","authorIdStr":"4141547829789112"},"themes":[],"htmlText":"This article is damn long unproductive.","listText":"This article is damn long unproductive.","text":"This article is damn long unproductive.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/377272483324216","repostId":"2487055212","repostType":2,"repost":{"id":"2487055212","kind":"highlight","pubTimestamp":1732885380,"share":"https://ttm.financial/m/news/2487055212?lang=&edition=fundamental","pubTime":"2024-11-29 21:03","market":"fut","language":"en","title":"It's Black Friday! Let's Talk About Fast Fashion.","url":"https://stock-news.laohu8.com/highlight/detail?id=2487055212","media":"Motley Fool","summary":"Even if you don't shop on Shein or Temu, you've felt their impact.","content":"<html><body><div><p>Timothy McLaughlin is a contributing writer for <em>The Atlantic</em>, with a recent article titled \"The Mysterious, Meteoric Rise of Shein.\" Read the article here (sign-in required).</p><p>In this podcast, Motley Fool host Mary Long caught up with Timothy to discuss:</p><ul><li aria-level=\"1\">How fast fashion became ultra-fast fashion.</li><li aria-level=\"1\">Why Shein's leaders may be staying quiet.</li><li aria-level=\"1\">How an export and tax loophole is driving business for Shein and Temu, and why that could change.</li></ul><p>Go to breakfast.fool.com to sign up to wake up daily to the latest market news, company insights, and a bit of Foolish fun -- all wrapped up in one quick, easy-to-read email called Breakfast News.</p><p>To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our beginner's guide to investing in stocks. A full transcript follows the video.</p><div><video-js controls=\"\"></video-js></div><p><em>This video was recorded on Nov. 24, 2024.</em></p><p><strong>Timothy McLaughlin:</strong> There's certainly people who say, I never use that website or I'm not downloading that app. I stay off it. I think people don't realize or maybe unaware that even if you're not using Shein or Temu, they probably changed the way that you're shopping.</p><div><div><div></div></div></div><p><strong>Ricky Mulvey:</strong> I'm Ricky Mulvey, and that's Timothy McLaughlin, a contributing writer for the Atlantic who's got a story titled The mysterious Meteoric Rise of Shein. Shein is a fast fashion company that's taken off in the US, selling long-sleeved T-shirts for $7 and jeans for under 20 bucks. The website is packed with flash sales and offers that almost sound too good to be true. Even if you haven't shopped there, Shein has changed the landscape for online commerce. Even <strong>Amazon</strong> has launched a competitive offering. My colleague Mary Long caught up with McLaughlin to talk about his reporting and the questions surrounding this mysterious company.</p><p><strong>Mary Long:</strong> You wrote an article that was published in the Atlantic a couple months ago about the mysterious and meteoric rise of Shein. This company started in 2012, though there are some sources that cite actually 2008 as the founding date. Today, over a decade later, little is still known about the company, especially its financials. It is privately held but it's estimated that, this is a company that brings in over $30 billion in revenue, over $2 billion in profits, its latest valuation so that the company was worth more than $60 billion. Tell us about this meteoric rise. How did Shein get it start and how did it get to be the behemoth that it is today?</p><div></div><p><strong>Timothy McLaughlin:</strong> What we do know from the reporting that I did that many other people have done on the company, Chinese language media about its early start is that Chris Shu, the founder who also goes by a few other names, originally worked in search engine optimization and used those skills that he had after graduating from university to start some smalish e-commerce websites. Now, there was two other founders at the time in this part of the history, I think, is a bit fuzzy because two of the other founders who used to speak to the media have now stopped talking to the media.</p><p>There is some of their telling of what happened out there but in short, they said that Chris took the company that they built together that was selling products online and seized the company that they had worked to build up. He took control of the company accounts, locked them out of the office, and then continued on and ended up building the company into what it is today. I think one of the key things is that at first, this was essentially drop shipping. They were just selling products from other companies. Only later on did she and Chris Shu start making their own products under their own brand and selling them. There are a few still spots where it's unclear exactly what happened. That's because the founder has, to my knowledge, never given an interview about how this started. Now they cite the company as having three other founders. We do know that the three other \"founders\" are the four people make up the core members of the team that they all handle different aspects of the company. One of them has talked a little bit to the media.</p><div><div><div></div></div></div><p>The other three remain a bit of a mystery. I think Chris Shu, there are, as I pointed out in my story, photos that purport to be him out there. They're not him. They're a photo from a professor at Cornell University who told me that he regularly gets emails from people complaining about products, want to talk to him about the website. He's actually an extremely accomplished professor at Cornell. I think he works in bio-mechanical engineering. He's won a heap of awards. He has nothing to do with the website. You can if listeners are interested, you can look at the Wall Street Journal story that calls him the most anonymous CEO in the world and notice that there's no photo picture with that story.</p><p>It's illustrated. I spoke to the illustrator in Brazil, and he was provided photos from the newspaper of Chris Shu to base those drawings off of, but there's no actual photo of him that ran with the story. I think they go to great lengths to keep him, I guess, out of the spotlight, under wraps. There's a huge debate or there was a huge debate on the Internet in China of whether where he went to university is where he really said he went to university because there are photos of him at graduation. Some people think he's standing in front of buildings at a different university rather than one that he said. There's a huge amount of speculation, of intrigue, of rumors floating around about him. I think a lot of that is because he's just exceedingly low key and under the radar. Like I said, there's not even really a good photo of him out there on the Internet at the moment.</p><p><strong>Mary Long:</strong> There's this obvious juxtaposition to be made because at least in the US, but elsewhere as well, we can venerate tech CEOs. Why especially with that in mind, why is it that, do you think that Shu chooses to keep such a low profile? To call it a low profile is also a bit of an understatement like to remain so deeply anonymous.</p><p><strong>Timothy McLaughlin:</strong> I think part of it is the political climate in China right now. We've seen financiers, tech entrepreneurs, high-flying individuals in the business world in China been slapped down pretty hard by the government. Jack Ma, I think, is probably the one that most people know vanished from the scene for a while during the crackdown on the tech sector in China a couple of years back. That's not, I guess, uncommon that these people go off the radar for a while, whether what the state's involvement in that is, I think, is difficult to know. But I think there is now a desire to stay pretty low-key.</p><div><div><div></div></div></div><p>I think, you know, the age of wanting to be the high-flying Chinese executive, wanting to be on the billionaire list or things like that, I think people would much rather avoid all of that because there is a lot of attention that comes with that. We do know from other reporting on the company that the Chinese government is interested in what they're doing, that they do keep tabs. I don't want to say, keep tabs, but they're certainly watching what the company does, given its size and the attention that's attracted, especially, again, because of the geopolitical climate. I think that probably there is a desire to stay very low-key. I think that's also that leads into the reason people might ask, why is the company in Singapore? They go to great lengths to present themselves as a Singaporean company. Even though we know most of the productions in China, most of the sales are happening outside of China. Again, something that has become a trend in the past couple of years. Probably, again, people mostly know Bite Dance and TikTok, moving their headquarters here and talking about being a Singaporean company. Singapore washing a term that some of the more hawkish people in DC use for the practice now. I think all of that is wanting to stay off the political radar, continue business as usual without stepping on the toes of the state.</p><p><strong>Mary Long:</strong> Shein is certainly sits at the intersection of lots of different geopolitical issues, and I want to touch more on those a bit down the line. But it also sits at the intersection of the conversation about fast fashion. That said, it is not the world's first fast fashion company. Before Shein came onto the scene, when did fashion first become fast?</p><p><strong>Timothy McLaughlin:</strong> Certainly, the brands that people would be aware of that get mentioned as the first generation of this would be like <strong>H&amp;M</strong>, I think, would come to mind, Prime Mark for British consumers, Zara, that first wave, I think that people are aware of. I think what Shein did is obviously the difference or one of the major differences: they don't have brick-and-mortar operations. It's all online, which is hugely beneficial during the pandemic. They were not shuttering places, paying rent, laying off employees because they were all online. In that moment, it was very helpful to their business.</p><p>I think those are the first not first, but maybe the ones that people are familiar with. I think the argument that people will make is that Shein of when from fast fashion to hyper-fast fashion or ultra-fast fashion is something that some people use to describe it. I don't think people have settled on a term just quite yet. But certainly something, I guess, new and faster. As you mentioned in the intro there, the number of products that they're brucing of designs that they're putting out hugely exceeds those more traditional fast fashion brands that people might be aware of.</p><div><div><div></div></div></div><p><strong>Mary Long:</strong> How exactly is Shein able to take fast fashion from fast to hyper-fast and beat even Zara and H&amp;M at this fast fashion game?</p><p><strong>Timothy McLaughlin:</strong> I guess I touched on this a little bit of the intro. A bit of it is still unknown. They talk about, and they have offered or begin to offer up their technology to other companies. They announced that a few months back. It is still, I think, a challenge to know exactly what's going on, but we do know the basics, and I think the basics are that they are producing much smaller batches of products than traditional fast fashion. They don't do runs of 10,000 items.</p><p>They're producing a couple hundred of items spread across dozens and dozens of really small producers, primarily in Shenzhen in China. What that does is it allows them to keep down their overhead and their warehousing fees. I think those are two things that are very important in the fashion industry. When you have an excess of clothes, two things happen. Not only, say you make a T shirt, it's terrible. The style doesn't really catch on. You have 10,000 pieces of clothing, you have the issue of one, you have to pay to store it, takes up space where you could be storing other stuff. Two, you might end up selling that at an end-of-year sale at a huge discount.</p><p>What Shein argument is is that they produce smaller batches, and they can do this because of, again, a unknown tech advances that they've made that allow them to predict or guess a little bit of what people's styles or trends might be based on shopping data and things like that. Then they can make smaller runs, which saves them money, ultimately saves the consumer money and gets the products out to the market faster. There are certainly questions around where a lot of the artwork and designs are coming from. The company is facing I mean, I haven't checked recently, but at any given time, dozens and dozens of lawsuits over copyright issues taking artists drawings or designs, slapping them on t shirts, on phone cases, on things like that. Generally, what happens in those situations is that the company settles them, pays out the artists and moves along.</p><div><div><div></div></div></div><p>We do know from reporting from Wired magazine that I cited in my piece that this cost them quite a bit of money and that they are certainly concerned from a monetary standpoint about it. There are, again, questions on how far they're going to regulate it. There are, like I said, a lot of cases playing out now. I should say these are not just, independent artists. They've been involved in lawsuits with tons of brands that people probably know Oakley, Stoic. The list Doc Martin, the list goes on and on. That is also, I think a big issue with the company that people have been looking at.</p><p><strong>Mary Long:</strong> I want to focus on this technology piece because it sounds like that is in some ways, Shein's secret sauce. The Wall Street Journal reported earlier this year that Shein would start selling its supply chain technology to other brands. If that is a part of Shein secret sauce, why sell it out to potential competitors or existing competitors?</p><p><strong>Timothy McLaughlin:</strong> A couple of things. We do know there are Chinese security companies and other companies in China that have gotten a better look, I think, what's going on here and there's some interesting pieces in Chinese language media about how this all works. We do know that they're hoovering up like a huge amount of data when you're on the website, what you're clicking on, how long you're hovering above items. This goes for the app as well, because the app, I think, is really important to mention because that's where this all started.</p><p>I think the app is if we're talking about the tech, not the production side, but the consumer side, I do think, the app is an interesting one to look at because it is really gamephy the shopping experience. There is a lot of interactive stuff. It is keeping you on the app for a while, and it's part social media, part shopping, part community discussion on fashion. It is, I think a very interesting product that they have there on the phone. In terms of the production side, yes, the technology and the design center and how they go about producing the stuff, they have started, according to the journal report that you mentioned, though we haven't seen any, I guess, more news on who's taking them up on that. I think there are looking for ways to diversify, and they're looking for new ways to make money off what they have besides just selling the clothes.</p><div><div><div></div></div></div><p>I think that offers a good opportunity to them. I think that story, and I asked questions about this, again murky on the extent of what it would be, what exactly it would look like, what companies would have access to if any of the companies have taken them up on that. I think it's an interesting story. I'm interested to see if there's follow-up or further reporting on what this all means because that story was out there, then we haven't seen much about it since then.</p><p><strong>Mary Long:</strong> When we think about these hyper-fast fashion retailers, Shein plays in the same space as Temu, and now Amazon is breaking into this space as well. They recently launched Amazon Hall. All three of these sites offer the same idea. Anything you want for what's effectively pennies or something close to it. Interestingly, the sitewide strategy also seems pretty similar. You bombard people with options, emojis, offerings, all these glittery sparkly things, so they can't really process what's going on. Obviously, price is something that brings a person to any of these sites but what if all three of these are playing the same game and trying to beat each other out in a game of pennies, and there's so much stuff to choose from, why is one consumer going to one site over another? Do any of these actually have a mote or a differentiator that distinguishes them from the others in the game?</p><p><strong>Timothy McLaughlin:</strong> I think you pointed out something good there. You're very interesting with Amazon and the halls. When I was writing this story, there's certainly people who say, I never used that website or I'm not downloading that app. I stay off it. I think people don't realize or maybe unaware that even if you're not using Shein or Temu, they probably changed the way that you're shopping because they are forcing competitors like Amazon to change the way that they're presenting products and bringing them to the market and selling them to consumers.</p><p>People could say, I don't use that or this or that. It 100% is impacting the way people shop and the way websites work, e-commerce, even if you're not using it, because they have become so successful and they've done so well that they are forcing the traditional big players like Amazon to adapt and change the way that they're serving customers and also the way that they're dealing with their sellers on their own platforms. In terms of what's different, there isn't a huge amount of difference at this point. I think we see for many shoppers the disappearance of brand loyalty. That doesn't seem to matter that much anymore. Is the cheapest price, whether it's from Amazon Basics or an unbranded Shein or just a Shein brand or Temu brand, it doesn't on certain items, people simply seem to no longer care if it's from a brand that they've heard of or, a pair like a pack of white T-shirts, whether it's just the cheapest price point possible.</p><div><div><div></div></div></div><p>I think that what Amazon is likely going for is familiarity, people obviously in the United States very familiar with it. People certainly younger generation, more familiar with, Shein and Temu it's growing but I think that they are hoping Amazon's certainly hoping that people who are already on the website that are using it for groceries or prime deliveries or streaming, that they can then reel those people in with the same cheap options on clothing and other items that are available on the other websites already. I think it's an interesting space to watch to see how the competition continues. Shein obviously exploded huge, but also seems to be struggling in terms of we see its valuation that has dropped from around 100 million down to 66, down to 50 billion not million. There's been a slide there, there's questions over there listing when or if that's going to happen. I think interesting to watch how the three of them compete into space going forward.</p><p><strong>Mary Long:</strong> Once upon a time, Shein was eyeing an IPO in the US. That idea has died. What happened to that plan?</p><p><strong>Timothy McLaughlin:</strong> For the past at least I think three years there has been stories that have been leaked or floated, that the IPO is coming really soon. It's right around the corner. Now where you are definitely in the back half of 2024, we do know that the latest target would be in the UK for London listing yes, the US was certainly originally the intended location from the reporting that's out there. That didn't happen, I think for a number of reasons, there's just a huge amount of scrutiny on the company in the US. Also, there's scrutiny in the company from the company in China and whether and from authorities there because the production and their most employment continues to happen there, that gives the Chinese government a level of control over the company and where it can go. Now, for the past year-ish or half year, at least, the reporting and the talk has been the listing in London. Like I said obviously, we're almost into December here, and that hasn't happened yet. I think people are watching that.</p><p>They're always also been floated by people in the financial journalism world that they could always return closer to home and head to Hong Kong, certainly a city that is looking for big listings at the moment, that's looking for some good financial, economic news. That would be a splash you get for Hong Kong. It would certainly play into Hong Kong's current plan of trying to integrate itself more with the mainland and with the mainland market.</p><div><div><div></div></div></div><p>That one is just speculation. London seems to be the spot for now but, I think a lot of waiting and seeing if and when this thing is going to happen, the company did take on a lot of funding from some big firms who one would assume at some point would like to see returns on the investment that they made, some of them as early as almost ten years ago now. Definitely, a lot of eyes watching where they go. For London, some people have asked why there. I think the stock market there is in pretty bad shape. It would be a big boom for the UK to get a big listing like this.</p><p>The IPO would probably be very large. It would also maybe help the new government of the UK show that they are willing to do business with China and be a little bit more accommodating on the geopolitical front there. We talked about how Shein sits at the intersection of not just the fast fashion world, but also in the middle of a lot of hot geopolitical issues. One of those issues that I didn't fully realize until reading your story is about this loophole in import taxes and import duties that Shein gets to pay. Maybe you can walk us through this a bit. What is the de-minimis clause, and how is that relevant to the Shein story?</p><p><strong>Timothy McLaughlin:</strong> Yes, I should have mentioned de-minimis earlier. It is a piece of legislation or law, rather, in the United States that I think very few people really paid attention to except trade wanks and maybe some people in the freight import, export business until very recently because of the connections to China. What it allows for is for small packages to come into the United States if their value is below $800 is the threshold right now. They are subject to very little inspection entering the United States, and they are free from paying taxes and tariffs on those packages. With a website like Shein, where many of the items, as you said earlier, cost a few cents or a couple of dollars, you can obviously order a lot of stuff, and the company can ship it into the United States with very limited oversight and also avoiding paying taxes and tariffs on the items that are coming in. Critics call it a loophole.</p><p>It was much lower until the Obama administration. It was part of a larger trade package that went through, Congress was signed into law by Barack Obama that raised the threshold. It used to be $200. It raised it up to 800. The feeling at the time was that the countries on the US border, Mexico and Canada would also do this. It would facilitate easier trade, and it would also allow Americans to travel abroad and bring back gifts and things like that without declaring them and going through paperwork. I should also say there was a huge amount of lobbying to get the number raised to 800 and even higher in some cases, by shipping companies like FedEx, who obviously benefit from the increased volume of packages that would be moving into the United States. It's sat at $800 for a long time. I don't think a lot of people really like I said, I think, you know, trade wonks and some other people were kind of interested in it became a massive issue really during the pandemic when people were at home, shopping online a lot, and we see this just huge uptick in packages that are coming into the United States using the de-minimis law.</p><div><div><div></div></div></div><p>They're coming in this year, probably over 1 billion packages entering the United States. That caught the attention of a lot of lawmakers, again, given the tensions and the situation with China, asking, are these companies paying their fair share? I think that bit of it has been going on for a while now. There's been a lot of legislation that's been introduced. Not a lot of it really moved for various reasons. There are big business groups, again, express shippers who would like to see this stay. Now, I think what happened and why we're all of a sudden seeing a lot more movement on it.</p><p>We saw the White House address it. Yesterday, the US economic insecurities on China, the Commission talked about it, as well. I think what has happened is lawmakers and people who are critics of this have started linking it to the fentanyl trade and saying that, hey, this is how fentanyl is getting into United States from China. They're bringing in either the product itself or the chemicals to make it is coming in through this means. When you link it to that and then you start having victims' families come and testify and talk to Congress and stuff, now suddenly there's a huge amount of interest in what is this and how can we change it? I think for the past couple of years it's been sitting there, there's been a lot of talk about it. It's gotten a lot of attention.</p><p>It hasn't really moved. Now, all of a sudden, I think we're going to start seeing some changes because of, again, the geopolitical climate and linking this to something that's very serious. By the way, this is by no means saying that Temu, Shein, that anyone of these companies are involved in any way in the drug trade. I'm just saying that this is, I think, how lawmakers who are against this and critics of it have found a much more emotional emotive way to lobby on changing it, and that's gotten a lot more attention. I think that we already saw Biden announced some changes to it, who knows with the Trump administration, how that will go. But certainly seems to be a ton of cross-party support for doing something to change this.</p><p>That would be a big blow for Shein and Temu although they're already pivoting. I would point people if they hadn't read it to the rest of the world story that came out I think this week or last week about using family warehouses, which are essentially houses of Chinese immigrants living in the United States and housing the packages there before they go out to shipment. The other issue here is that a lot of companies are shipping the products from China to Mexico or Canada, where they break the packages up into smaller pieces, then bring them into the United States. We see, again, lawmakers calling for some regulation on that, on other sides of the border. Certainly, an issue that I don't think is going away. Again, because it's being linked to fentanyl and the drug trade with China, I think it's going to see some changes coming up at some point.</p><div><div><div></div></div></div><p><strong>Mary Long:</strong> You've got this newer emotional side to it being brought up, but also in June 2023, just to put some numbers behind it and you cite these numbers in your reporting, the House Select Committee on the CCP found that in 2022, <strong>GAP</strong> paid $700 million in import duties. H&amp;M paid $205 million. Shein and Temu paid nothing. We've already heard you mentioned, I don't know what the Trump administration is going to do. We've heard a lot about tariffs recently. I can't imagine that certainly being a sticking point moving forward. Tim McLaughlin, thanks so much for the time. Thanks so much for your reporting on this company. Though I'm sure parts of it were frustrating because it is indeed so mysterious but thanks for coming on and spending some time with us on Motley Fool Money. Really appreciate having you here.</p><p><strong>Timothy McLaughlin:</strong> Thanks so much. I appreciate it.</p><p><strong>Ricky Mulvey:</strong> We've got a link to Tim's story in the show notes if you want to check it out. As always, people on the program may have interests in stocks they talk about the Motley Fool may have formal recommendations for or against. Don't buy or sell stocks based solely on what you hear. All personal finance content follows Motley Fool editorial standards and are not approved by advertisers. The Motley Fool only picks products that it would personally recommend to friends like you. I'm Ricky Mulvey. Thanks for listening. We'll be back tomorrow.</p></div></body></html>","source":"fool_stock","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>It's Black Friday! Let's Talk About Fast Fashion.</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\">\nIt's Black Friday! Let's Talk About Fast Fashion.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-29 21:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2024/11/29/its-black-friday-lets-talk-about-fast-fashion/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Timothy McLaughlin is a contributing writer for The Atlantic, with a recent article titled \"The Mysterious, Meteoric Rise of Shein.\" Read the article here (sign-in required).In this podcast, Motley ...</p>\n\n<a href=\"https://www.fool.com/investing/2024/11/29/its-black-friday-lets-talk-about-fast-fashion/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F799331%2Fmfm_24.jpg&op=resize&w=165&h=104","relate_stocks":{"FAST":"快扣","BK4104":"贸易公司与经销商","BK4585":"ETF&股票定投概念","BK4567":"ESG概念","BK4588":"碎股"},"source_url":"https://www.fool.com/investing/2024/11/29/its-black-friday-lets-talk-about-fast-fashion/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2487055212","content_text":"Timothy McLaughlin is a contributing writer for The Atlantic, with a recent article titled \"The Mysterious, Meteoric Rise of Shein.\" Read the article here (sign-in required).In this podcast, Motley Fool host Mary Long caught up with Timothy to discuss:How fast fashion became ultra-fast fashion.Why Shein's leaders may be staying quiet.How an export and tax loophole is driving business for Shein and Temu, and why that could change.Go to breakfast.fool.com to sign up to wake up daily to the latest market news, company insights, and a bit of Foolish fun -- all wrapped up in one quick, easy-to-read email called Breakfast News.To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our beginner's guide to investing in stocks. A full transcript follows the video.This video was recorded on Nov. 24, 2024.Timothy McLaughlin: There's certainly people who say, I never use that website or I'm not downloading that app. I stay off it. I think people don't realize or maybe unaware that even if you're not using Shein or Temu, they probably changed the way that you're shopping.Ricky Mulvey: I'm Ricky Mulvey, and that's Timothy McLaughlin, a contributing writer for the Atlantic who's got a story titled The mysterious Meteoric Rise of Shein. Shein is a fast fashion company that's taken off in the US, selling long-sleeved T-shirts for $7 and jeans for under 20 bucks. The website is packed with flash sales and offers that almost sound too good to be true. Even if you haven't shopped there, Shein has changed the landscape for online commerce. Even Amazon has launched a competitive offering. My colleague Mary Long caught up with McLaughlin to talk about his reporting and the questions surrounding this mysterious company.Mary Long: You wrote an article that was published in the Atlantic a couple months ago about the mysterious and meteoric rise of Shein. This company started in 2012, though there are some sources that cite actually 2008 as the founding date. Today, over a decade later, little is still known about the company, especially its financials. It is privately held but it's estimated that, this is a company that brings in over $30 billion in revenue, over $2 billion in profits, its latest valuation so that the company was worth more than $60 billion. Tell us about this meteoric rise. How did Shein get it start and how did it get to be the behemoth that it is today?Timothy McLaughlin: What we do know from the reporting that I did that many other people have done on the company, Chinese language media about its early start is that Chris Shu, the founder who also goes by a few other names, originally worked in search engine optimization and used those skills that he had after graduating from university to start some smalish e-commerce websites. Now, there was two other founders at the time in this part of the history, I think, is a bit fuzzy because two of the other founders who used to speak to the media have now stopped talking to the media.There is some of their telling of what happened out there but in short, they said that Chris took the company that they built together that was selling products online and seized the company that they had worked to build up. He took control of the company accounts, locked them out of the office, and then continued on and ended up building the company into what it is today. I think one of the key things is that at first, this was essentially drop shipping. They were just selling products from other companies. Only later on did she and Chris Shu start making their own products under their own brand and selling them. There are a few still spots where it's unclear exactly what happened. That's because the founder has, to my knowledge, never given an interview about how this started. Now they cite the company as having three other founders. We do know that the three other \"founders\" are the four people make up the core members of the team that they all handle different aspects of the company. One of them has talked a little bit to the media.The other three remain a bit of a mystery. I think Chris Shu, there are, as I pointed out in my story, photos that purport to be him out there. They're not him. They're a photo from a professor at Cornell University who told me that he regularly gets emails from people complaining about products, want to talk to him about the website. He's actually an extremely accomplished professor at Cornell. I think he works in bio-mechanical engineering. He's won a heap of awards. He has nothing to do with the website. You can if listeners are interested, you can look at the Wall Street Journal story that calls him the most anonymous CEO in the world and notice that there's no photo picture with that story.It's illustrated. I spoke to the illustrator in Brazil, and he was provided photos from the newspaper of Chris Shu to base those drawings off of, but there's no actual photo of him that ran with the story. I think they go to great lengths to keep him, I guess, out of the spotlight, under wraps. There's a huge debate or there was a huge debate on the Internet in China of whether where he went to university is where he really said he went to university because there are photos of him at graduation. Some people think he's standing in front of buildings at a different university rather than one that he said. There's a huge amount of speculation, of intrigue, of rumors floating around about him. I think a lot of that is because he's just exceedingly low key and under the radar. Like I said, there's not even really a good photo of him out there on the Internet at the moment.Mary Long: There's this obvious juxtaposition to be made because at least in the US, but elsewhere as well, we can venerate tech CEOs. Why especially with that in mind, why is it that, do you think that Shu chooses to keep such a low profile? To call it a low profile is also a bit of an understatement like to remain so deeply anonymous.Timothy McLaughlin: I think part of it is the political climate in China right now. We've seen financiers, tech entrepreneurs, high-flying individuals in the business world in China been slapped down pretty hard by the government. Jack Ma, I think, is probably the one that most people know vanished from the scene for a while during the crackdown on the tech sector in China a couple of years back. That's not, I guess, uncommon that these people go off the radar for a while, whether what the state's involvement in that is, I think, is difficult to know. But I think there is now a desire to stay pretty low-key.I think, you know, the age of wanting to be the high-flying Chinese executive, wanting to be on the billionaire list or things like that, I think people would much rather avoid all of that because there is a lot of attention that comes with that. We do know from other reporting on the company that the Chinese government is interested in what they're doing, that they do keep tabs. I don't want to say, keep tabs, but they're certainly watching what the company does, given its size and the attention that's attracted, especially, again, because of the geopolitical climate. I think that probably there is a desire to stay very low-key. I think that's also that leads into the reason people might ask, why is the company in Singapore? They go to great lengths to present themselves as a Singaporean company. Even though we know most of the productions in China, most of the sales are happening outside of China. Again, something that has become a trend in the past couple of years. Probably, again, people mostly know Bite Dance and TikTok, moving their headquarters here and talking about being a Singaporean company. Singapore washing a term that some of the more hawkish people in DC use for the practice now. I think all of that is wanting to stay off the political radar, continue business as usual without stepping on the toes of the state.Mary Long: Shein is certainly sits at the intersection of lots of different geopolitical issues, and I want to touch more on those a bit down the line. But it also sits at the intersection of the conversation about fast fashion. That said, it is not the world's first fast fashion company. Before Shein came onto the scene, when did fashion first become fast?Timothy McLaughlin: Certainly, the brands that people would be aware of that get mentioned as the first generation of this would be like H&M, I think, would come to mind, Prime Mark for British consumers, Zara, that first wave, I think that people are aware of. I think what Shein did is obviously the difference or one of the major differences: they don't have brick-and-mortar operations. It's all online, which is hugely beneficial during the pandemic. They were not shuttering places, paying rent, laying off employees because they were all online. In that moment, it was very helpful to their business.I think those are the first not first, but maybe the ones that people are familiar with. I think the argument that people will make is that Shein of when from fast fashion to hyper-fast fashion or ultra-fast fashion is something that some people use to describe it. I don't think people have settled on a term just quite yet. But certainly something, I guess, new and faster. As you mentioned in the intro there, the number of products that they're brucing of designs that they're putting out hugely exceeds those more traditional fast fashion brands that people might be aware of.Mary Long: How exactly is Shein able to take fast fashion from fast to hyper-fast and beat even Zara and H&M at this fast fashion game?Timothy McLaughlin: I guess I touched on this a little bit of the intro. A bit of it is still unknown. They talk about, and they have offered or begin to offer up their technology to other companies. They announced that a few months back. It is still, I think, a challenge to know exactly what's going on, but we do know the basics, and I think the basics are that they are producing much smaller batches of products than traditional fast fashion. They don't do runs of 10,000 items.They're producing a couple hundred of items spread across dozens and dozens of really small producers, primarily in Shenzhen in China. What that does is it allows them to keep down their overhead and their warehousing fees. I think those are two things that are very important in the fashion industry. When you have an excess of clothes, two things happen. Not only, say you make a T shirt, it's terrible. The style doesn't really catch on. You have 10,000 pieces of clothing, you have the issue of one, you have to pay to store it, takes up space where you could be storing other stuff. Two, you might end up selling that at an end-of-year sale at a huge discount.What Shein argument is is that they produce smaller batches, and they can do this because of, again, a unknown tech advances that they've made that allow them to predict or guess a little bit of what people's styles or trends might be based on shopping data and things like that. Then they can make smaller runs, which saves them money, ultimately saves the consumer money and gets the products out to the market faster. There are certainly questions around where a lot of the artwork and designs are coming from. The company is facing I mean, I haven't checked recently, but at any given time, dozens and dozens of lawsuits over copyright issues taking artists drawings or designs, slapping them on t shirts, on phone cases, on things like that. Generally, what happens in those situations is that the company settles them, pays out the artists and moves along.We do know from reporting from Wired magazine that I cited in my piece that this cost them quite a bit of money and that they are certainly concerned from a monetary standpoint about it. There are, again, questions on how far they're going to regulate it. There are, like I said, a lot of cases playing out now. I should say these are not just, independent artists. They've been involved in lawsuits with tons of brands that people probably know Oakley, Stoic. The list Doc Martin, the list goes on and on. That is also, I think a big issue with the company that people have been looking at.Mary Long: I want to focus on this technology piece because it sounds like that is in some ways, Shein's secret sauce. The Wall Street Journal reported earlier this year that Shein would start selling its supply chain technology to other brands. If that is a part of Shein secret sauce, why sell it out to potential competitors or existing competitors?Timothy McLaughlin: A couple of things. We do know there are Chinese security companies and other companies in China that have gotten a better look, I think, what's going on here and there's some interesting pieces in Chinese language media about how this all works. We do know that they're hoovering up like a huge amount of data when you're on the website, what you're clicking on, how long you're hovering above items. This goes for the app as well, because the app, I think, is really important to mention because that's where this all started.I think the app is if we're talking about the tech, not the production side, but the consumer side, I do think, the app is an interesting one to look at because it is really gamephy the shopping experience. There is a lot of interactive stuff. It is keeping you on the app for a while, and it's part social media, part shopping, part community discussion on fashion. It is, I think a very interesting product that they have there on the phone. In terms of the production side, yes, the technology and the design center and how they go about producing the stuff, they have started, according to the journal report that you mentioned, though we haven't seen any, I guess, more news on who's taking them up on that. I think there are looking for ways to diversify, and they're looking for new ways to make money off what they have besides just selling the clothes.I think that offers a good opportunity to them. I think that story, and I asked questions about this, again murky on the extent of what it would be, what exactly it would look like, what companies would have access to if any of the companies have taken them up on that. I think it's an interesting story. I'm interested to see if there's follow-up or further reporting on what this all means because that story was out there, then we haven't seen much about it since then.Mary Long: When we think about these hyper-fast fashion retailers, Shein plays in the same space as Temu, and now Amazon is breaking into this space as well. They recently launched Amazon Hall. All three of these sites offer the same idea. Anything you want for what's effectively pennies or something close to it. Interestingly, the sitewide strategy also seems pretty similar. You bombard people with options, emojis, offerings, all these glittery sparkly things, so they can't really process what's going on. Obviously, price is something that brings a person to any of these sites but what if all three of these are playing the same game and trying to beat each other out in a game of pennies, and there's so much stuff to choose from, why is one consumer going to one site over another? Do any of these actually have a mote or a differentiator that distinguishes them from the others in the game?Timothy McLaughlin: I think you pointed out something good there. You're very interesting with Amazon and the halls. When I was writing this story, there's certainly people who say, I never used that website or I'm not downloading that app. I stay off it. I think people don't realize or maybe unaware that even if you're not using Shein or Temu, they probably changed the way that you're shopping because they are forcing competitors like Amazon to change the way that they're presenting products and bringing them to the market and selling them to consumers.People could say, I don't use that or this or that. It 100% is impacting the way people shop and the way websites work, e-commerce, even if you're not using it, because they have become so successful and they've done so well that they are forcing the traditional big players like Amazon to adapt and change the way that they're serving customers and also the way that they're dealing with their sellers on their own platforms. In terms of what's different, there isn't a huge amount of difference at this point. I think we see for many shoppers the disappearance of brand loyalty. That doesn't seem to matter that much anymore. Is the cheapest price, whether it's from Amazon Basics or an unbranded Shein or just a Shein brand or Temu brand, it doesn't on certain items, people simply seem to no longer care if it's from a brand that they've heard of or, a pair like a pack of white T-shirts, whether it's just the cheapest price point possible.I think that what Amazon is likely going for is familiarity, people obviously in the United States very familiar with it. People certainly younger generation, more familiar with, Shein and Temu it's growing but I think that they are hoping Amazon's certainly hoping that people who are already on the website that are using it for groceries or prime deliveries or streaming, that they can then reel those people in with the same cheap options on clothing and other items that are available on the other websites already. I think it's an interesting space to watch to see how the competition continues. Shein obviously exploded huge, but also seems to be struggling in terms of we see its valuation that has dropped from around 100 million down to 66, down to 50 billion not million. There's been a slide there, there's questions over there listing when or if that's going to happen. I think interesting to watch how the three of them compete into space going forward.Mary Long: Once upon a time, Shein was eyeing an IPO in the US. That idea has died. What happened to that plan?Timothy McLaughlin: For the past at least I think three years there has been stories that have been leaked or floated, that the IPO is coming really soon. It's right around the corner. Now where you are definitely in the back half of 2024, we do know that the latest target would be in the UK for London listing yes, the US was certainly originally the intended location from the reporting that's out there. That didn't happen, I think for a number of reasons, there's just a huge amount of scrutiny on the company in the US. Also, there's scrutiny in the company from the company in China and whether and from authorities there because the production and their most employment continues to happen there, that gives the Chinese government a level of control over the company and where it can go. Now, for the past year-ish or half year, at least, the reporting and the talk has been the listing in London. Like I said obviously, we're almost into December here, and that hasn't happened yet. I think people are watching that.They're always also been floated by people in the financial journalism world that they could always return closer to home and head to Hong Kong, certainly a city that is looking for big listings at the moment, that's looking for some good financial, economic news. That would be a splash you get for Hong Kong. It would certainly play into Hong Kong's current plan of trying to integrate itself more with the mainland and with the mainland market.That one is just speculation. London seems to be the spot for now but, I think a lot of waiting and seeing if and when this thing is going to happen, the company did take on a lot of funding from some big firms who one would assume at some point would like to see returns on the investment that they made, some of them as early as almost ten years ago now. Definitely, a lot of eyes watching where they go. For London, some people have asked why there. I think the stock market there is in pretty bad shape. It would be a big boom for the UK to get a big listing like this.The IPO would probably be very large. It would also maybe help the new government of the UK show that they are willing to do business with China and be a little bit more accommodating on the geopolitical front there. We talked about how Shein sits at the intersection of not just the fast fashion world, but also in the middle of a lot of hot geopolitical issues. One of those issues that I didn't fully realize until reading your story is about this loophole in import taxes and import duties that Shein gets to pay. Maybe you can walk us through this a bit. What is the de-minimis clause, and how is that relevant to the Shein story?Timothy McLaughlin: Yes, I should have mentioned de-minimis earlier. It is a piece of legislation or law, rather, in the United States that I think very few people really paid attention to except trade wanks and maybe some people in the freight import, export business until very recently because of the connections to China. What it allows for is for small packages to come into the United States if their value is below $800 is the threshold right now. They are subject to very little inspection entering the United States, and they are free from paying taxes and tariffs on those packages. With a website like Shein, where many of the items, as you said earlier, cost a few cents or a couple of dollars, you can obviously order a lot of stuff, and the company can ship it into the United States with very limited oversight and also avoiding paying taxes and tariffs on the items that are coming in. Critics call it a loophole.It was much lower until the Obama administration. It was part of a larger trade package that went through, Congress was signed into law by Barack Obama that raised the threshold. It used to be $200. It raised it up to 800. The feeling at the time was that the countries on the US border, Mexico and Canada would also do this. It would facilitate easier trade, and it would also allow Americans to travel abroad and bring back gifts and things like that without declaring them and going through paperwork. I should also say there was a huge amount of lobbying to get the number raised to 800 and even higher in some cases, by shipping companies like FedEx, who obviously benefit from the increased volume of packages that would be moving into the United States. It's sat at $800 for a long time. I don't think a lot of people really like I said, I think, you know, trade wonks and some other people were kind of interested in it became a massive issue really during the pandemic when people were at home, shopping online a lot, and we see this just huge uptick in packages that are coming into the United States using the de-minimis law.They're coming in this year, probably over 1 billion packages entering the United States. That caught the attention of a lot of lawmakers, again, given the tensions and the situation with China, asking, are these companies paying their fair share? I think that bit of it has been going on for a while now. There's been a lot of legislation that's been introduced. Not a lot of it really moved for various reasons. There are big business groups, again, express shippers who would like to see this stay. Now, I think what happened and why we're all of a sudden seeing a lot more movement on it.We saw the White House address it. Yesterday, the US economic insecurities on China, the Commission talked about it, as well. I think what has happened is lawmakers and people who are critics of this have started linking it to the fentanyl trade and saying that, hey, this is how fentanyl is getting into United States from China. They're bringing in either the product itself or the chemicals to make it is coming in through this means. When you link it to that and then you start having victims' families come and testify and talk to Congress and stuff, now suddenly there's a huge amount of interest in what is this and how can we change it? I think for the past couple of years it's been sitting there, there's been a lot of talk about it. It's gotten a lot of attention.It hasn't really moved. Now, all of a sudden, I think we're going to start seeing some changes because of, again, the geopolitical climate and linking this to something that's very serious. By the way, this is by no means saying that Temu, Shein, that anyone of these companies are involved in any way in the drug trade. I'm just saying that this is, I think, how lawmakers who are against this and critics of it have found a much more emotional emotive way to lobby on changing it, and that's gotten a lot more attention. I think that we already saw Biden announced some changes to it, who knows with the Trump administration, how that will go. But certainly seems to be a ton of cross-party support for doing something to change this.That would be a big blow for Shein and Temu although they're already pivoting. I would point people if they hadn't read it to the rest of the world story that came out I think this week or last week about using family warehouses, which are essentially houses of Chinese immigrants living in the United States and housing the packages there before they go out to shipment. The other issue here is that a lot of companies are shipping the products from China to Mexico or Canada, where they break the packages up into smaller pieces, then bring them into the United States. We see, again, lawmakers calling for some regulation on that, on other sides of the border. Certainly, an issue that I don't think is going away. Again, because it's being linked to fentanyl and the drug trade with China, I think it's going to see some changes coming up at some point.Mary Long: You've got this newer emotional side to it being brought up, but also in June 2023, just to put some numbers behind it and you cite these numbers in your reporting, the House Select Committee on the CCP found that in 2022, GAP paid $700 million in import duties. H&M paid $205 million. Shein and Temu paid nothing. We've already heard you mentioned, I don't know what the Trump administration is going to do. We've heard a lot about tariffs recently. I can't imagine that certainly being a sticking point moving forward. Tim McLaughlin, thanks so much for the time. Thanks so much for your reporting on this company. Though I'm sure parts of it were frustrating because it is indeed so mysterious but thanks for coming on and spending some time with us on Motley Fool Money. Really appreciate having you here.Timothy McLaughlin: Thanks so much. I appreciate it.Ricky Mulvey: We've got a link to Tim's story in the show notes if you want to check it out. As always, people on the program may have interests in stocks they talk about the Motley Fool may have formal recommendations for or against. Don't buy or sell stocks based solely on what you hear. All personal finance content follows Motley Fool editorial standards and are not approved by advertisers. The Motley Fool only picks products that it would personally recommend to friends like you. I'm Ricky Mulvey. Thanks for listening. We'll be back tomorrow.","news_type":1},"isVote":1,"tweetType":1,"viewCount":114,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362400193802248,"gmtCreate":1729512521478,"gmtModify":1729513007774,"author":{"id":"4141547829789112","authorId":"4141547829789112","name":"Roksnana","avatar":"https://community-static.tradeup.com/news/8d45ec43d9d33b5d6cde51ffb3f2f349","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4141547829789112","authorIdStr":"4141547829789112"},"themes":[],"htmlText":"\"ASML's constant price target changes reek of manipulation. Lack of transparency serves personal interests.\"[Thinking]&nbsp;&nbsp;","listText":"\"ASML's constant price target changes reek of manipulation. Lack of transparency serves personal interests.\"[Thinking]&nbsp;&nbsp;","text":"\"ASML's constant price target changes reek of manipulation. Lack of transparency serves personal interests.\"[Thinking]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/362400193802248","repostId":"2477058250","repostType":2,"repost":{"id":"2477058250","kind":"highlight","pubTimestamp":1729484876,"share":"https://ttm.financial/m/news/2477058250?lang=&edition=fundamental","pubTime":"2024-10-21 12:27","market":"fut","language":"en","title":"ASML Holding: Share Price Is Still Lofty Despite The Most Recent 16% Plunge","url":"https://stock-news.laohu8.com/highlight/detail?id=2477058250","media":"seekingalpha","summary":"ASML Holding's share price dropped 16% on 15 October 2024, losing 49.2 billion in market cap; investors should wait for further price corrections before buying.Despite a revenue surge in 3Q24, net boo","content":"<html><body><ul><li>ASML Holding's share price dropped 16% on 15 October 2024, losing €49.2 billion in market cap; investors should wait for further price corrections before buying.</li><li>Despite a revenue surge in 3Q24, net bookings fell by 52%, and future growth is expected to slow, with 2024 revenue growth projected at only 2.33%.</li><li>ASML is still highly dependent on China and will continue to face challenges due to stricter export controls, potentially affecting the company's sales.</li><li>Valuation analysis based on management's guidance suggests that, current share price is still lofty and there is a potential downside of 13.84%.</li></ul><p><figure><picture> <img fetchpriority=\"high\" height=\"3885px\" sizes=\"(max-width: 768px) calc(100vw - 36px), (max-width: 1024px) calc(100vw - 132px), (max-width: 1200px) calc(66.6vw - 72px), 600px\" src=\"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w750\" srcset=\"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w1536 1536w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w1280 1280w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w1080 1080w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w750 750w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w640 640w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w480 480w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w320 320w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg?io=getty-c-w240 240w\" width=\"5825px\"/> </picture><figcaption> <p>Sundry Photography</p></figcaption></figure></p> <h2>Introduction</h2> <p>On 15 October 2024, the share price of ASML Holding (<span>NASDAQ:ASML</span>) (OTCPK:ASMLF) plunged by 16% after information related to the company's 3Q24 results was published earlier due to a technical error<span>. During this period, the company has lost about €49.2 billion in market capitalization.</span></p> <p>Given that most of the world's semiconductor foundries are dependent on ASML, this may represent a good opportunity for investors to accumulate shares. However, based on my analysis, I believe that investors should hold their horses and not be overly excited. In this report, I will demonstrate why we should wait for the prices to further correct before starting to accumulate shares of ASML.</p> <h2>Latest Developments</h2> <p><figure contenteditable=\"false\"><span><img contenteditable=\"false\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/20/59780092-17294098969644122.png\"/></span><figcaption><p>ASML Performance 4Q24 <span>(Earnings Presentation)</span></p></figcaption></figure></p> <p>In 3Q24, total revenues surged from €6.24 billion to €7.47 billion, representing a growth of 11.90% year-on-year. During this period, the company has sold 17 more lithography systems as compared to the same period last year. However, total net bookings plunged by 52% to €2.63 billion from €5.57 billion the same period last year. Gross margin declined from 51.87% the same period last year to 50.80% but was offset declines in operating expenses; total operating income margin remain at 32.70%.</p> <p>Looking forward, the company expects 4Q24 sales to range between €8.8 billion to €9.2 billion and gross margin to deteriorate further to between 49% and 50%. Despite lower gross margin, the company expects to spend lower on R&amp;D and SG&amp;A costs, offsetting deteriorations in gross margin.</p> <h2>ASML's Growth Rate To Continue Deteriorating</h2> <p>Although developments in artificial intelligence is likely to continue providing tailwinds for demand, it seems clear that the company's growth has peaked. ASML's 4Q24 sales guidance suggests that the company will likely post a revenue of €28.2 billion, representing a growth of only 2.33% this year. The slowdown in growth is primarily due to a slower recovery in the traditional non-AI related markets.</p> <p><figure contenteditable=\"false\"><picture> <img contenteditable=\"false\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/20/59780092-17294176757650776.png\"/> </picture><figcaption><p>ASML Historical Revenue Growth <span>(Company Filings)</span></p></figcaption></figure></p> <p>Over the past three years, we have seen an average growth of around 25% per annum. Moreover, the company expects to generate between €44 billion and €60 billion in sales by FY2030, representing an average growth of 13% per annum. It is clear that the company's growth has declined, and it is unlikely that we will continue to see an elevated growth rate of about 25%. After all, in the latest earnings call, Christophe Fouquet, Chief Executive of ASML, had said, \"without AI, the market would be very sad\".</p> <h2>'China Issue' To Continue Weighing On ASML</h2> <p>Apart from ASML's latest revenue woes, the company is also facing a lot of challenges due to export controls. The Dutch government has aligned with the United States and will prevent ASML from selling the company's more advanced machines to China; even older machines will be subjected to this regulation. The Dutch's Prime Minister, Dick Schoof, will also not allow ASML to service China's equipment when the company's license expires this year.</p> <p><figure contenteditable=\"false\"><span><img contenteditable=\"false\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/20/59780092-1729419452676056.png\"/></span><figcaption><p>ASML's Geographical Exposure <span>(Company Filings)</span></p></figcaption></figure></p> <p>More importantly, ASML's remains highly exposed to China. In 2024, close to half of the company's revenue is attributable to China. Despite stringent export controls and a slew of new regulations, the company's biggest market is still in China. Roger Dassen, ASML's Chief Financial Officer have stated that sales in China will normalize to 20% of total revenue from about 49%.</p> <p>It is important to highlight that this is based on the current regulatory environment. If regulations further tighten, there is a strong likelihood that sales will further deteriorate, falling short of the company's projections.</p> <h2>Markets Are Still Pricing In A Premium</h2> <p><figure contenteditable=\"false\"><span><img contenteditable=\"false\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/20/59780092-1729418423681526.png\"/></span><figcaption><p>Valuation Analysis <span>(Author's Projections)</span></p></figcaption></figure></p> <p>Even though the company has plunged by close to 16% since Tuesday, the current share price of €664.50 implies that the markets are extremely optimistic about the company's growth rate.</p> <p>If we assume: (1) the company's gross margin eventually reaches its target of 60% by FY2030, (2) current share price of €664.50, and (3) all other margins (e.g. SG&amp;A and R&amp;D) to maintain at its current level, a reverse valuation analysis will suggest that the market is pricing in a revenue growth of 16% per annum between FY2025 and FY2030. In other words, markets are pricing in a premium and expects the company to beat its revenue growth rate by 3% per annum for the next six years. To put it into context, markets are expecting ASML to generate €70 billion in revenues as compared to the company's guidance of €60 billion.</p> <h2>ASML Is A Cash Generator And Has A History Of Giving Back To Its Shareholders</h2> <p>Do not get me wrong, ASML has been an exceptional company that has a strong balance sheet and strong liquidity profile. Moreover, the company has stable margins and has proved to be able to effectively generate sustainable cashflows over the years. Over the past 10 years, the company has generated €35 billion in free cash flow.</p> <p><figure contenteditable=\"false\"><picture> <img contenteditable=\"false\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/20/59780092-1729421353363598.png\"/> </picture><figcaption><p>ASML's Historical Free Cash Flow <span>(Company Filings)</span></p></figcaption></figure></p> <p>Moreover, the company has a strong history of giving back to its shareholders. Over the past five years, the company's share buyback plan has reached a cumulative share buyback of €22.80 billion. ASML has also given back about a total of 10 billion in dividends over the past five years.</p> <h2>Valuation Based On Management's Guidance Suggests Share Price Is Lofty</h2> <p>Given that the management has provided so much color, I have utilized these inputs to conduct a valuation analysis of ASML's share price. My valuation model will be based on the following inputs: (1) revenue growth of 2.33% in FY2024 and 13.41% between FY2025 to FY2030, (2) gross margins to improve from 51.29% in FY2023 to 60% by FY30, (3) other margins such as SG&amp;A and R&amp;D to maintain at current levels, and (4) WACC of 8.57% and terminal growth rate of 5%.</p> <p><figure contenteditable=\"false\"><span><img contenteditable=\"false\" loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2024/10/20/59780092-17294223372009742.png\"/></span><figcaption><p>Valuation Analysis <span>(Author's Projections)</span></p></figcaption></figure></p> <p>Based on these assumptions, which are fairly generous with a terminal growth rate of 5%, the valuation model based on discounted cashflows suggests that the company's implied share price of €572.52. Based on the current share price of €664.50, it does seem that the price of ASML is still quite lofty.</p> <h2>Closing Remarks</h2> <p>ASML's share price has declined by about 16% in the most recent sell off, indicating a 33% of decrease from the company's peak in July 2024. Given the current artificial intelligence hype train and investors' interest in semiconductor related stocks, it is not surprising that many are using this opportunity to accumulate shares.</p> <p>However, I believe that market participants are still pricing in a strong premium in ASML's shares. Using inputs from the company's management, the implied share price is 572.52, representing a potential further downside of 13.84%. Given the lack of any margin of safety, investors should not get overly excited; I believe that it will be wise for us to hold out longer before we see the value that we want to capitalize.</p> <div></div> <p>Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.</p></body></html>","source":"seekingalpha","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>ASML Holding: Share Price Is Still Lofty Despite The Most Recent 16% Plunge</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nASML Holding: Share Price Is Still Lofty Despite The Most Recent 16% Plunge\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-21 12:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4727941-asml-q3-earnings-share-price-still-lofty-despite-most-recent-16-percent-plunge><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ASML Holding's share price dropped 16% on 15 October 2024, losing €49.2 billion in market cap; investors should wait for further price corrections before buying.Despite a revenue surge in 3Q24, net ...</p>\n\n<a href=\"https://seekingalpha.com/article/4727941-asml-q3-earnings-share-price-still-lofty-despite-most-recent-16-percent-plunge\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1200829368/image_1200829368.jpg","relate_stocks":{"IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU1734074674.USD":"NINETY ONE GSF ASIA PACIFIC FRANCHISE \"A\"(USD) ACC","03165":"华夏欧优股对冲","BK4585":"ETF&股票定投概念","BK4147":"半导体设备","ASML":"阿斯麦","BK4588":"碎股","ASMLF":"ASML Holding N.V.","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU2063271972.USD":"富兰克林创新领域基金"},"source_url":"https://seekingalpha.com/article/4727941-asml-q3-earnings-share-price-still-lofty-despite-most-recent-16-percent-plunge","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2477058250","content_text":"ASML Holding's share price dropped 16% on 15 October 2024, losing €49.2 billion in market cap; investors should wait for further price corrections before buying.Despite a revenue surge in 3Q24, net bookings fell by 52%, and future growth is expected to slow, with 2024 revenue growth projected at only 2.33%.ASML is still highly dependent on China and will continue to face challenges due to stricter export controls, potentially affecting the company's sales.Valuation analysis based on management's guidance suggests that, current share price is still lofty and there is a potential downside of 13.84%.   Sundry Photography Introduction On 15 October 2024, the share price of ASML Holding (NASDAQ:ASML) (OTCPK:ASMLF) plunged by 16% after information related to the company's 3Q24 results was published earlier due to a technical error. During this period, the company has lost about €49.2 billion in market capitalization. Given that most of the world's semiconductor foundries are dependent on ASML, this may represent a good opportunity for investors to accumulate shares. However, based on my analysis, I believe that investors should hold their horses and not be overly excited. In this report, I will demonstrate why we should wait for the prices to further correct before starting to accumulate shares of ASML. Latest Developments ASML Performance 4Q24 (Earnings Presentation) In 3Q24, total revenues surged from €6.24 billion to €7.47 billion, representing a growth of 11.90% year-on-year. During this period, the company has sold 17 more lithography systems as compared to the same period last year. However, total net bookings plunged by 52% to €2.63 billion from €5.57 billion the same period last year. Gross margin declined from 51.87% the same period last year to 50.80% but was offset declines in operating expenses; total operating income margin remain at 32.70%. Looking forward, the company expects 4Q24 sales to range between €8.8 billion to €9.2 billion and gross margin to deteriorate further to between 49% and 50%. Despite lower gross margin, the company expects to spend lower on R&D and SG&A costs, offsetting deteriorations in gross margin. ASML's Growth Rate To Continue Deteriorating Although developments in artificial intelligence is likely to continue providing tailwinds for demand, it seems clear that the company's growth has peaked. ASML's 4Q24 sales guidance suggests that the company will likely post a revenue of €28.2 billion, representing a growth of only 2.33% this year. The slowdown in growth is primarily due to a slower recovery in the traditional non-AI related markets.   ASML Historical Revenue Growth (Company Filings) Over the past three years, we have seen an average growth of around 25% per annum. Moreover, the company expects to generate between €44 billion and €60 billion in sales by FY2030, representing an average growth of 13% per annum. It is clear that the company's growth has declined, and it is unlikely that we will continue to see an elevated growth rate of about 25%. After all, in the latest earnings call, Christophe Fouquet, Chief Executive of ASML, had said, \"without AI, the market would be very sad\". 'China Issue' To Continue Weighing On ASML Apart from ASML's latest revenue woes, the company is also facing a lot of challenges due to export controls. The Dutch government has aligned with the United States and will prevent ASML from selling the company's more advanced machines to China; even older machines will be subjected to this regulation. The Dutch's Prime Minister, Dick Schoof, will also not allow ASML to service China's equipment when the company's license expires this year. ASML's Geographical Exposure (Company Filings) More importantly, ASML's remains highly exposed to China. In 2024, close to half of the company's revenue is attributable to China. Despite stringent export controls and a slew of new regulations, the company's biggest market is still in China. Roger Dassen, ASML's Chief Financial Officer have stated that sales in China will normalize to 20% of total revenue from about 49%. It is important to highlight that this is based on the current regulatory environment. If regulations further tighten, there is a strong likelihood that sales will further deteriorate, falling short of the company's projections. Markets Are Still Pricing In A Premium Valuation Analysis (Author's Projections) Even though the company has plunged by close to 16% since Tuesday, the current share price of €664.50 implies that the markets are extremely optimistic about the company's growth rate. If we assume: (1) the company's gross margin eventually reaches its target of 60% by FY2030, (2) current share price of €664.50, and (3) all other margins (e.g. SG&A and R&D) to maintain at its current level, a reverse valuation analysis will suggest that the market is pricing in a revenue growth of 16% per annum between FY2025 and FY2030. In other words, markets are pricing in a premium and expects the company to beat its revenue growth rate by 3% per annum for the next six years. To put it into context, markets are expecting ASML to generate €70 billion in revenues as compared to the company's guidance of €60 billion. ASML Is A Cash Generator And Has A History Of Giving Back To Its Shareholders Do not get me wrong, ASML has been an exceptional company that has a strong balance sheet and strong liquidity profile. Moreover, the company has stable margins and has proved to be able to effectively generate sustainable cashflows over the years. Over the past 10 years, the company has generated €35 billion in free cash flow.   ASML's Historical Free Cash Flow (Company Filings) Moreover, the company has a strong history of giving back to its shareholders. Over the past five years, the company's share buyback plan has reached a cumulative share buyback of €22.80 billion. ASML has also given back about a total of 10 billion in dividends over the past five years. Valuation Based On Management's Guidance Suggests Share Price Is Lofty Given that the management has provided so much color, I have utilized these inputs to conduct a valuation analysis of ASML's share price. My valuation model will be based on the following inputs: (1) revenue growth of 2.33% in FY2024 and 13.41% between FY2025 to FY2030, (2) gross margins to improve from 51.29% in FY2023 to 60% by FY30, (3) other margins such as SG&A and R&D to maintain at current levels, and (4) WACC of 8.57% and terminal growth rate of 5%. Valuation Analysis (Author's Projections) Based on these assumptions, which are fairly generous with a terminal growth rate of 5%, the valuation model based on discounted cashflows suggests that the company's implied share price of €572.52. Based on the current share price of €664.50, it does seem that the price of ASML is still quite lofty. Closing Remarks ASML's share price has declined by about 16% in the most recent sell off, indicating a 33% of decrease from the company's peak in July 2024. Given the current artificial intelligence hype train and investors' interest in semiconductor related stocks, it is not surprising that many are using this opportunity to accumulate shares. However, I believe that market participants are still pricing in a strong premium in ASML's shares. Using inputs from the company's management, the implied share price is 572.52, representing a potential further downside of 13.84%. Given the lack of any margin of safety, investors should not get overly excited; I believe that it will be wise for us to hold out longer before we see the value that we want to capitalize.  Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":353,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344031033483312,"gmtCreate":1725016494547,"gmtModify":1725017982183,"author":{"id":"4141547829789112","authorId":"4141547829789112","name":"Roksnana","avatar":"https://community-static.tradeup.com/news/8d45ec43d9d33b5d6cde51ffb3f2f349","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4141547829789112","authorIdStr":"4141547829789112"},"themes":[],"htmlText":"\"Market manipulation persists as some exploit pump and dump schemes, preying on unsuspecting investors. Transparency and accountability are crucial to protecting retail investors and maintaining a fair market.\"[Allin]&nbsp;&nbsp;","listText":"\"Market manipulation persists as some exploit pump and dump schemes, preying on unsuspecting investors. Transparency and accountability are crucial to protecting retail investors and maintaining a fair market.\"[Allin]&nbsp;&nbsp;","text":"\"Market manipulation persists as some exploit pump and dump schemes, preying on unsuspecting investors. Transparency and accountability are crucial to protecting retail investors and maintaining a fair market.\"[Allin]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/344031033483312","repostId":"2463990784","repostType":2,"repost":{"id":"2463990784","kind":"highlight","pubTimestamp":1725012738,"share":"https://ttm.financial/m/news/2463990784?lang=&edition=fundamental","pubTime":"2024-08-30 18:12","market":"hk","language":"en","title":"Nasdaq, S&P, Dow futures in green ahead of inflation report","url":"https://stock-news.laohu8.com/highlight/detail?id=2463990784","media":"seekingalpha","summary":"Stock index futures were higher on Friday, as traders look forward to the key inflation data slated to come later in the day. S&P 500 futures (SPX) +0.5%, Nasdaq 100 futures (US100:IND) +0.7% and Dow ","content":"<html><body><p>Stock index futures were higher on Friday, as traders look forward to the key inflation data slated to come later in the day.</p> <p>S&amp;P 500 futures (<span>SPX</span>) <span>+0.5%</span>, Nasdaq 100 futures (US100:IND) <span>+0.7%</span> and Dow futures (<span>INDU</span>) <span>+0.2%</span>.</p> <p>The 10-year Treasury yield (US10Y<span>) was unchanged at 3.86%. The 2-year yield (</span>US2Y<span>) was flat at 3.91%.</span></p> <p>U.S. stocks on Thursday ended mixed, as an afternoon bout of selling ate into strong gains earlier, after a post-earnings drop in chip giant Nvidia (NVDA) intensified through the session and offset a boost to sentiment from data that showed a more robust expansion in the economy in the second quarter than previously estimated.</p> <p>\"Risk assets put in a decent performance over the last 24 hours, as solid US data outweighed investors’ disappointment about Nvidia’s latest results,\" Deutsche Bank's Henry Allen said.</p> <p>\"With all that data in hand, the general perception was that the economy was doing better than thought, and that a larger 50bp cut from the Federal Reserve was now less likely,\" Allen said.</p> <p>Investors are now bracing for the July core personal consumption expenditure price index report, which will land before the bell. </p> <p>The Fed's favored inflation gauge is expected to show a 0.2% M/M increase in July, the same growth rate as in June. On a Y/Y basis, that's expected to be 2.7%, up a tick from 2.6% in June. Core PCE strips out food and energy prices, which can swing significantly from month to month.</p> <p>Including food and energy, the PCE price index is expected to rise 0.2% in July, up from 0.1% in June, and 2.5% Y/Y, unchanged from the prior month.</p> <p>\"Disinflation data continues today. The July personal consumer expenditure deflator is expected to show fairly stable inflation rates. It is worth remembering that if inflation falls because of owners’ equivalent rent, this does not change the spending power of any U.S. household,\" UBS' Paul Donovan said.</p> <p>Other economic reports for today include the August Chicago PMI and the August consumer sentiment. The former is expected to come in at 45, while the latter is anticipated at 67.8.</p> </body></html>","source":"seekingalpha","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>Nasdaq, S&P, Dow futures in green ahead of inflation report</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\">\nNasdaq, S&P, Dow futures in green ahead of inflation report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-30 18:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4145384-sp500-nasdaq-dow-jones-outlook-stock-market-pce><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stock index futures were higher on Friday, as traders look forward to the key inflation data slated to come later in the day. S&P 500 futures (SPX) +0.5%, Nasdaq 100 futures (US100:IND) +0.7% and Dow ...</p>\n\n<a href=\"https://seekingalpha.com/news/4145384-sp500-nasdaq-dow-jones-outlook-stock-market-pce\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/668600179/image_668600179.jpg","relate_stocks":{"BK4534":"瑞士信贷持仓","QLD":"纳指两倍做多ETF","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","LU0079474960.USD":"联博美国增长基金A","BK4527":"明星科技股","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4141":"半导体产品","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","IE00B3M56506.USD":"NEUBERGER BERMAN EMERGING MARKETS EQUITY \"A\" (USD) ACC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","IE00BYXW3230.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"AA\" (USD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","IE0034235295.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"A\" (USD) ACC","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","NDAQ":"纳斯达克OMX交易所","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","QID":"纳指两倍做空ETF","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","TQQQ":"纳指三倍做多ETF","NDX":"纳斯达克100指数","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0057025933.USD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","PSQ":"纳指反向ETF","NVDA":"英伟达",".IXIC":"NASDAQ Composite","SQQQ":"纳指三倍做空ETF"},"source_url":"https://seekingalpha.com/news/4145384-sp500-nasdaq-dow-jones-outlook-stock-market-pce","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2463990784","content_text":"Stock index futures were higher on Friday, as traders look forward to the key inflation data slated to come later in the day. S&P 500 futures (SPX) +0.5%, Nasdaq 100 futures (US100:IND) +0.7% and Dow futures (INDU) +0.2%. The 10-year Treasury yield (US10Y) was unchanged at 3.86%. The 2-year yield (US2Y) was flat at 3.91%. U.S. stocks on Thursday ended mixed, as an afternoon bout of selling ate into strong gains earlier, after a post-earnings drop in chip giant Nvidia (NVDA) intensified through the session and offset a boost to sentiment from data that showed a more robust expansion in the economy in the second quarter than previously estimated. \"Risk assets put in a decent performance over the last 24 hours, as solid US data outweighed investors’ disappointment about Nvidia’s latest results,\" Deutsche Bank's Henry Allen said. \"With all that data in hand, the general perception was that the economy was doing better than thought, and that a larger 50bp cut from the Federal Reserve was now less likely,\" Allen said. Investors are now bracing for the July core personal consumption expenditure price index report, which will land before the bell.  The Fed's favored inflation gauge is expected to show a 0.2% M/M increase in July, the same growth rate as in June. On a Y/Y basis, that's expected to be 2.7%, up a tick from 2.6% in June. Core PCE strips out food and energy prices, which can swing significantly from month to month. Including food and energy, the PCE price index is expected to rise 0.2% in July, up from 0.1% in June, and 2.5% Y/Y, unchanged from the prior month. \"Disinflation data continues today. The July personal consumer expenditure deflator is expected to show fairly stable inflation rates. It is worth remembering that if inflation falls because of owners’ equivalent rent, this does not change the spending power of any U.S. household,\" UBS' Paul Donovan said. Other economic reports for today include the August Chicago PMI and the August consumer sentiment. The former is expected to come in at 45, while the latter is anticipated at 67.8.","news_type":1},"isVote":1,"tweetType":1,"viewCount":316,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}