Happylam

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- HappylamHappylam
  ·10-30 13:56
  They are smarter than us many times yet cannot stop on capex, that means those who don't spend will have big problems.
  The logic behind Google's sharp drop: AI burned through cash flow, burned through share buybacks, and burned through search.
  谷歌搜索查询量创五年新高，收入增速却跌至年内最低，目前AI模式货币化水平较低；云业务利润被77亿美元AI研发亏损半数吞噬；自由现金流消耗是预期三倍，回购归零转而发股卖债。这一表现放大了市场对大型科技公司AI资本开支回报的焦虑，摩根大通直言这是"AI交易重新点火的一次挫折"，高盛表示市场的耐心正在从奖励烧钱转向索要回报。
  The logic behind Google's sharp drop: AI burned through cash flow, burned through share buybacks, and burned through search.
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- HappylamHappylam
  ·08-20
  I thought Iran said they never want nuclear. Still use that as excuse?
  Trump announces the toughest economic sanctions in history against Iran
  8月20日，美国总统特朗普表示，我给伊朗达成协议的机会比任何人都多。因此，今天，我宣布对伊朗采取史上最严厉的经济制裁措施，这将是前所未有的经济战争和孤立。伊朗的海军已经消失，空军已被摧毁，军事工厂如今已沦为废墟，本国货币已经一文不值，而整个国家正处于岌岌可危的境地。任何允许其金融机构、企业、机场或政府实体以任何形式向伊朗提供救助的国家，都将面临巨大的经济后果。伊朗永远不会拥有核武器。
  Trump announces the toughest economic sanctions in history against Iran
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- HappylamHappylam
  ·04-15
  So oil price up or down?
  Iranian military responds to US naval blockade: It will not allow import and export activities in the Persian Gulf, Gulf of Oman, and Red Sea.
  将不会允许波斯湾、阿曼湾和红海的活动。
  Iranian military responds to US naval blockade: It will not allow import and export activities in the Persian Gulf, Gulf of Oman, and Red Sea.
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A \"death cross\" occurred during the session—the 50-day moving average fell below the 200-day moving average, which also affected the broader technology sector, putting downward pressure on the Nasdaq.</p><p><p style=\"text-align: left;\">Alphabet's latest financial report has struck a nerve with the market: AI investments continue to eat into cash flow, stock buybacks have been reduced to zero, and the pricing power of its core search business has begun to come under pressure. According to Bloomberg's consensus forecast, Google Search, YouTube, Subscriptions, and Google Services all fell short of expectations, and the group's operating profit was $40.6 billion, lower than the market expectation of $43.2 billion and below the buyer's threshold of approximately $45 billion.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/cafb76f2d316a232bd735316489807ae\" data-align=\"center\" tg-width=\"901\" tg-height=\"579\"/><span></span></p><p><p style=\"text-align: left;\">This is not just a financial setback, but more like a repricing of AI trading logic. Comments from JPMorgan Chase, Goldman Sachs, and Morgan Stanley all point to the same conclusion: this earnings report has put renewed pressure on risk appetite in the AI sector, which had just rebounded recently, and amplified market anxiety about the return on AI capital expenditures by large technology companies. JPMorgan Chase bluntly stated that this is \"a setback in the reignition of AI/technology trading.\" Goldman Sachs trader Thales Arruda noted that the market is shifting from \"rewarding capital expenditure growth\" to \"demanding evidence of returns.\"</p><p><p style=\"text-align: left;\">Alphabet's answer was exactly the opposite. The company's free cash flow depletion far exceeded expectations, with share buybacks falling to zero in the first nine months of 2026, while raising funds through stock sales and bond issuances. Meanwhile, Sundar Pichai emphasized that while search query growth reached its highest year-on-year rate in five years, search revenue growth slowed down, with AI Mode's low monetization rate becoming the market's biggest concern.</p><p><h2 style=\"text-align: left;\">Search volume hit a five-year high, but search revenue saw its lowest growth rate this year.</h2><p style=\"text-align: left;\">The most unsettling contradiction in this financial report lies in a comparison of numbers.</p><p><p style=\"text-align: left;\">In his earnings report, Alphabet CEO Sundar Pichai declared that Google Search's year-over-year query growth was \"the highest in the past five years.\" However, search and other business revenue grew by only 12% to $63.35 billion, a significant drop from 16.8% in the second quarter and 19.1% in the first quarter, and also significantly below the buyer's expected threshold of about 14%.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d9958abcf723f785bcc38382aa8d7005\" data-align=\"center\" tg-width=\"1280\" tg-height=\"720\"/><span></span></p><p><p style=\"text-align: left;\">In the words of Mark Schilsky of JPMorgan Chase's trading desk, this means that \"Google is answering more questions than ever before, but getting paid less and less for each question.\"</p><p><p style=\"text-align: left;\">Management offered multiple explanations. Chief Commercial Officer Philipp Schindler listed exchange rates as \"the single biggest drag on search business in the second quarter,\" while Goldman Sachs' TMT team added two vertical industry factors: the EU's removal of the minimum exemption policy impacting retailer advertising spending in the Asia-Pacific region, and the normalization of media entertainment advertising spending after the FIFA World Cup.</p><p><p style=\"text-align: left;\"><strong>However, what the market is truly concerned about is the erosion of search monetization by AI Mode. Schindler acknowledged that AI models have a \"low level of monetization,\" while insisting that \"most AI model queries are incremental and will create more monetization opportunities over time.\"</strong>Barclays analyst Ross Sandler pointed out that management is \"prioritizing user experience over monetization,\" with blue link queries growing slower than total queries, and a more aggressive agent-based search process next year could widen this gap further. He characterized this as a \"yellow alert\" for investors.</p><p><p style=\"text-align: left;\">Morgan Stanley pointed out that the gap between Alphabet's search growth rate and Meta's advertising growth rate has widened to a recent peak of about 13 percentage points, which has reinforced market concerns about advertising share migration and AI diversion.</p><p><p style=\"text-align: left;\">YouTube also failed to provide a buffer, with its revenue growing by 9.2%, falling below the 10% observation line previously mentioned by JPMorgan Chase's Mark Schilsky.</p><p><p style=\"text-align: left;\">Looking ahead to the fourth quarter, CFO Anat Ashkenazi warned that currency headwinds will widen further, while the search business will also face high base pressure from accelerated growth in the third quarter of 2025.</p><p><h2 style=\"text-align: left;\">Cloud business is impressive, but profits are being swallowed up by AI research and development black holes.</h2><p style=\"text-align: left;\">The only highlight in the financial report that exceeded expectations came from Google Cloud.</p><p><p style=\"text-align: left;\">Cloud business revenue doubled to $30.7 billion year-over-year, segment profit margin jumped from 23.7% to 36.2%, far exceeding market expectations of about 33%, and nearly 100 customers are already using TPU. The backlog of cloud business orders reached $561 billion, a year-over-year increase of 256%, and the company said about 55% will be converted into revenue in the next 24 months. Nearly 100 customers are using TPU.</p><p><p style=\"text-align: left;\">However, the problem is that the strong growth of the cloud business has not been fully transmitted to the group's profits.</p><p><p style=\"text-align: left;\">Alphabet's shared AI R&D losses widened from $4.5 billion a year ago to $7.7 billion, while Other Bets lost another $2 billion. Roughly estimated, about half of the incremental profits from the cloud business have been consumed before reaching the consolidated income statement.</p><p><p style=\"text-align: left;\">In his quarterly report commentary, Goldman Sachs analyst Eric Sheridan summarized this phenomenon as \"a slowdown in search business and continued investment in computing power.\" He pointed out that management continues to emphasize leadership in cutting-edge models, including the release of Genie 4 and Gemini C4 Carbon, while also acknowledging that available computing power remains a limiting factor for the further acceleration of cloud business.</p><p><p style=\"text-align: left;\">This is also a core concern for the market: strong demand for cloud services and even stronger demand for AI capital expenditures. Growth appears to exist, but cash returns still need to be awaited.</p><p><h2 style=\"text-align: left;\">Running out of free cash flow, share buybacks were reduced to zero, leading to bond issuance and stock sales.</h2><p style=\"text-align: left;\">The most impactful information in this financial report may not come from the income statement, but from the disclosure of financing activities.</p><p><p style=\"text-align: left;\">The market had originally expected Alphabet to deplete approximately $3.5 billion in free cash flow this quarter.<strong>The actual figure is close to three times that expected.</strong>Capital expenditures were $51.4 billion, lower than the market expectation of $55.8 billion, but operating cash flow fell 13% year-over-year to $42.3 billion, far below the market expectation of $53.9 billion. Capital expenditures doubled within a year, and operating cash flow declined.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/fe893886c3fd90af33d589f9ab3d9717\" data-align=\"center\" tg-width=\"1280\" tg-height=\"742\"/><span></span></p><p><p style=\"text-align: left;\"><strong>What is even more striking is the fundamental shift in the financing structure.</strong>In the first three quarters of 2026, Alphabet had zero share buybacks—compared to $39.8 billion in the same period of 2025. At the same time, the company sold 12 million Class A shares (cashing out $4.3 billion) and 24 million Class C shares (cashing out $8.1 billion) through an ATM program, issuing a total of $12.4 billion in new shares, leaving $27.6 billion remaining in the ATM program. In addition, the company issued $28.7 billion in senior unsecured bonds, and quarterly interest expenses soared to $967 million from $143 million a year ago.</p><p><p style=\"text-align: left;\">In comparison, in the first three quarters of 2025, Alphabet returned $44.4 billion to investors through financing activities; In the first three quarters of 2026, the company raised a net $115.8 billion, including $42.9 billion in common stock (of which $10 billion came from...).<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway), $19.1 billion in mandatory convertible preferred shares, and $76.3 billion in net new debt.</p><p><p style=\"text-align: left;\">Management stated that it expects the return on investment to be \"significantly higher than the cost of capital\". However, the cost of capital itself is already rising: Alphabet sold its shares at an average price of about $358 for Class A shares and $338 for Class C shares, compared to a pre-market price of about $290, meaning the company completed the financing at a price 15% to 20% above the current market price—perhaps the best deal it made this quarter.</p><p><h2 style=\"text-align: left;\">The market narrative is shifting, and the AI sector is facing a new test of \"proving returns\".</h2><p style=\"text-align: left;\">The market impact of this financial report goes beyond Alphabet itself, directly targeting the core of the entire AI investment logic.</p><p><p style=\"text-align: left;\">Goldman Sachs trader Thales Arruda pointed out in his morning report,<strong>The market is undergoing a shift from \"rewarding capital expenditure growth\" to \"demanding evidence of returns,\" and the current \"painful trading\" is being described as hyperscale cloud vendors underperforming the market, while de-risking \"shovel and pickaxe\" stocks are beginning to gain momentum.</strong>He also pointed out that improved credit market stability and Oracle's financial reports may be more decisive for the highly leveraged infrastructure complex than the financial reports of any hyperscale cloud vendor.</p><p><p style=\"text-align: left;\">JPMorgan Chase's market intelligence team characterized the earnings report as \"a setback in the reignition of AI/technology trading,\" and pointed out that pre-market price movements indicate that the broad-based rotation trend will continue. The bank cited precedents from the beginning of the year: between January and February 20 this year, the energy sector rose 22%, the materials sector rose 16%, the industrial sector rose 14%, while the technology sector fell 3.5%.<a href=\"https://laohu8.com/S/161125\">S&P 500</a>The overall increase was less than 1%. JPMorgan Chase maintained its \"tactical bullish\" stance, believing that the main risk comes from the escalation of geopolitical conflicts in the Middle East rather than the earnings report itself, and said it would buy on dips.</p><p><p style=\"text-align: left;\">Regarding analyst price targets, several institutions lowered their price targets while maintaining their ratings: Bernstein lowered them from $385 to $325, Bank of America from $430 to $380, JPMorgan Chase from $425 to $375, Morgan Stanley from $400 to $375, Barclays from $425 to $405, and Susquehanna from $460 to $400. Citizens is the only institution to downgrade to \"market performance\". Even after the downward revision, the median analyst target price is still about 30% higher than the pre-market price.</p><p><p style=\"text-align: left;\">Bank of America points out that, based on approximately $291, Alphabet stock corresponds to approximately 19 times P/E in 2027 and approximately 16 times P/E in 2028, while its core search business is valued at only about 10 times. This could be a buy signal, provided the market believes the 2028 earnings forecast is credible and no other competitors take the lead. Just as Alphabet was struggling with monetization difficulties, Microsoft Azure exceeded expectations and guided constant exchange rate growth of 49% to 50% next quarter. This comparison makes the logic of winner differentiation in AI infrastructure investment increasingly clear.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The logic behind Google's sharp drop: AI burned through cash flow, burned through share buybacks, and burned through search.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe logic behind Google's sharp drop: AI burned through cash flow, burned through share buybacks, and burned through search.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2026-10-30 11:24</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><p style=\"text-align: left;\"><a href=\"https://laohu8.com/S/GOOGL\">Google A</a>/<a href=\"https://laohu8.com/S/GOOG\">Google</a>Thursday suffered its worst single-day plunge in history, with stock prices plummeting by more than 11% and market capitalization evaporating by approximately $500 billion. A \"death cross\" occurred during the session—the 50-day moving average fell below the 200-day moving average, which also affected the broader technology sector, putting downward pressure on the Nasdaq.</p><p><p style=\"text-align: left;\">Alphabet's latest financial report has struck a nerve with the market: AI investments continue to eat into cash flow, stock buybacks have been reduced to zero, and the pricing power of its core search business has begun to come under pressure. According to Bloomberg's consensus forecast, Google Search, YouTube, Subscriptions, and Google Services all fell short of expectations, and the group's operating profit was $40.6 billion, lower than the market expectation of $43.2 billion and below the buyer's threshold of approximately $45 billion.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/cafb76f2d316a232bd735316489807ae\" data-align=\"center\" tg-width=\"901\" tg-height=\"579\"/><span></span></p><p><p style=\"text-align: left;\">This is not just a financial setback, but more like a repricing of AI trading logic. Comments from JPMorgan Chase, Goldman Sachs, and Morgan Stanley all point to the same conclusion: this earnings report has put renewed pressure on risk appetite in the AI sector, which had just rebounded recently, and amplified market anxiety about the return on AI capital expenditures by large technology companies. JPMorgan Chase bluntly stated that this is \"a setback in the reignition of AI/technology trading.\" Goldman Sachs trader Thales Arruda noted that the market is shifting from \"rewarding capital expenditure growth\" to \"demanding evidence of returns.\"</p><p><p style=\"text-align: left;\">Alphabet's answer was exactly the opposite. The company's free cash flow depletion far exceeded expectations, with share buybacks falling to zero in the first nine months of 2026, while raising funds through stock sales and bond issuances. Meanwhile, Sundar Pichai emphasized that while search query growth reached its highest year-on-year rate in five years, search revenue growth slowed down, with AI Mode's low monetization rate becoming the market's biggest concern.</p><p><h2 style=\"text-align: left;\">Search volume hit a five-year high, but search revenue saw its lowest growth rate this year.</h2><p style=\"text-align: left;\">The most unsettling contradiction in this financial report lies in a comparison of numbers.</p><p><p style=\"text-align: left;\">In his earnings report, Alphabet CEO Sundar Pichai declared that Google Search's year-over-year query growth was \"the highest in the past five years.\" However, search and other business revenue grew by only 12% to $63.35 billion, a significant drop from 16.8% in the second quarter and 19.1% in the first quarter, and also significantly below the buyer's expected threshold of about 14%.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d9958abcf723f785bcc38382aa8d7005\" data-align=\"center\" tg-width=\"1280\" tg-height=\"720\"/><span></span></p><p><p style=\"text-align: left;\">In the words of Mark Schilsky of JPMorgan Chase's trading desk, this means that \"Google is answering more questions than ever before, but getting paid less and less for each question.\"</p><p><p style=\"text-align: left;\">Management offered multiple explanations. Chief Commercial Officer Philipp Schindler listed exchange rates as \"the single biggest drag on search business in the second quarter,\" while Goldman Sachs' TMT team added two vertical industry factors: the EU's removal of the minimum exemption policy impacting retailer advertising spending in the Asia-Pacific region, and the normalization of media entertainment advertising spending after the FIFA World Cup.</p><p><p style=\"text-align: left;\"><strong>However, what the market is truly concerned about is the erosion of search monetization by AI Mode. Schindler acknowledged that AI models have a \"low level of monetization,\" while insisting that \"most AI model queries are incremental and will create more monetization opportunities over time.\"</strong>Barclays analyst Ross Sandler pointed out that management is \"prioritizing user experience over monetization,\" with blue link queries growing slower than total queries, and a more aggressive agent-based search process next year could widen this gap further. He characterized this as a \"yellow alert\" for investors.</p><p><p style=\"text-align: left;\">Morgan Stanley pointed out that the gap between Alphabet's search growth rate and Meta's advertising growth rate has widened to a recent peak of about 13 percentage points, which has reinforced market concerns about advertising share migration and AI diversion.</p><p><p style=\"text-align: left;\">YouTube also failed to provide a buffer, with its revenue growing by 9.2%, falling below the 10% observation line previously mentioned by JPMorgan Chase's Mark Schilsky.</p><p><p style=\"text-align: left;\">Looking ahead to the fourth quarter, CFO Anat Ashkenazi warned that currency headwinds will widen further, while the search business will also face high base pressure from accelerated growth in the third quarter of 2025.</p><p><h2 style=\"text-align: left;\">Cloud business is impressive, but profits are being swallowed up by AI research and development black holes.</h2><p style=\"text-align: left;\">The only highlight in the financial report that exceeded expectations came from Google Cloud.</p><p><p style=\"text-align: left;\">Cloud business revenue doubled to $30.7 billion year-over-year, segment profit margin jumped from 23.7% to 36.2%, far exceeding market expectations of about 33%, and nearly 100 customers are already using TPU. The backlog of cloud business orders reached $561 billion, a year-over-year increase of 256%, and the company said about 55% will be converted into revenue in the next 24 months. Nearly 100 customers are using TPU.</p><p><p style=\"text-align: left;\">However, the problem is that the strong growth of the cloud business has not been fully transmitted to the group's profits.</p><p><p style=\"text-align: left;\">Alphabet's shared AI R&D losses widened from $4.5 billion a year ago to $7.7 billion, while Other Bets lost another $2 billion. Roughly estimated, about half of the incremental profits from the cloud business have been consumed before reaching the consolidated income statement.</p><p><p style=\"text-align: left;\">In his quarterly report commentary, Goldman Sachs analyst Eric Sheridan summarized this phenomenon as \"a slowdown in search business and continued investment in computing power.\" He pointed out that management continues to emphasize leadership in cutting-edge models, including the release of Genie 4 and Gemini C4 Carbon, while also acknowledging that available computing power remains a limiting factor for the further acceleration of cloud business.</p><p><p style=\"text-align: left;\">This is also a core concern for the market: strong demand for cloud services and even stronger demand for AI capital expenditures. Growth appears to exist, but cash returns still need to be awaited.</p><p><h2 style=\"text-align: left;\">Running out of free cash flow, share buybacks were reduced to zero, leading to bond issuance and stock sales.</h2><p style=\"text-align: left;\">The most impactful information in this financial report may not come from the income statement, but from the disclosure of financing activities.</p><p><p style=\"text-align: left;\">The market had originally expected Alphabet to deplete approximately $3.5 billion in free cash flow this quarter.<strong>The actual figure is close to three times that expected.</strong>Capital expenditures were $51.4 billion, lower than the market expectation of $55.8 billion, but operating cash flow fell 13% year-over-year to $42.3 billion, far below the market expectation of $53.9 billion. Capital expenditures doubled within a year, and operating cash flow declined.</p><p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/fe893886c3fd90af33d589f9ab3d9717\" data-align=\"center\" tg-width=\"1280\" tg-height=\"742\"/><span></span></p><p><p style=\"text-align: left;\"><strong>What is even more striking is the fundamental shift in the financing structure.</strong>In the first three quarters of 2026, Alphabet had zero share buybacks—compared to $39.8 billion in the same period of 2025. At the same time, the company sold 12 million Class A shares (cashing out $4.3 billion) and 24 million Class C shares (cashing out $8.1 billion) through an ATM program, issuing a total of $12.4 billion in new shares, leaving $27.6 billion remaining in the ATM program. In addition, the company issued $28.7 billion in senior unsecured bonds, and quarterly interest expenses soared to $967 million from $143 million a year ago.</p><p><p style=\"text-align: left;\">In comparison, in the first three quarters of 2025, Alphabet returned $44.4 billion to investors through financing activities; In the first three quarters of 2026, the company raised a net $115.8 billion, including $42.9 billion in common stock (of which $10 billion came from...).<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway), $19.1 billion in mandatory convertible preferred shares, and $76.3 billion in net new debt.</p><p><p style=\"text-align: left;\">Management stated that it expects the return on investment to be \"significantly higher than the cost of capital\". However, the cost of capital itself is already rising: Alphabet sold its shares at an average price of about $358 for Class A shares and $338 for Class C shares, compared to a pre-market price of about $290, meaning the company completed the financing at a price 15% to 20% above the current market price—perhaps the best deal it made this quarter.</p><p><h2 style=\"text-align: left;\">The market narrative is shifting, and the AI sector is facing a new test of \"proving returns\".</h2><p style=\"text-align: left;\">The market impact of this financial report goes beyond Alphabet itself, directly targeting the core of the entire AI investment logic.</p><p><p style=\"text-align: left;\">Goldman Sachs trader Thales Arruda pointed out in his morning report,<strong>The market is undergoing a shift from \"rewarding capital expenditure growth\" to \"demanding evidence of returns,\" and the current \"painful trading\" is being described as hyperscale cloud vendors underperforming the market, while de-risking \"shovel and pickaxe\" stocks are beginning to gain momentum.</strong>He also pointed out that improved credit market stability and Oracle's financial reports may be more decisive for the highly leveraged infrastructure complex than the financial reports of any hyperscale cloud vendor.</p><p><p style=\"text-align: left;\">JPMorgan Chase's market intelligence team characterized the earnings report as \"a setback in the reignition of AI/technology trading,\" and pointed out that pre-market price movements indicate that the broad-based rotation trend will continue. The bank cited precedents from the beginning of the year: between January and February 20 this year, the energy sector rose 22%, the materials sector rose 16%, the industrial sector rose 14%, while the technology sector fell 3.5%.<a href=\"https://laohu8.com/S/161125\">S&P 500</a>The overall increase was less than 1%. JPMorgan Chase maintained its \"tactical bullish\" stance, believing that the main risk comes from the escalation of geopolitical conflicts in the Middle East rather than the earnings report itself, and said it would buy on dips.</p><p><p style=\"text-align: left;\">Regarding analyst price targets, several institutions lowered their price targets while maintaining their ratings: Bernstein lowered them from $385 to $325, Bank of America from $430 to $380, JPMorgan Chase from $425 to $375, Morgan Stanley from $400 to $375, Barclays from $425 to $405, and Susquehanna from $460 to $400. Citizens is the only institution to downgrade to \"market performance\". Even after the downward revision, the median analyst target price is still about 30% higher than the pre-market price.</p><p><p style=\"text-align: left;\">Bank of America points out that, based on approximately $291, Alphabet stock corresponds to approximately 19 times P/E in 2027 and approximately 16 times P/E in 2028, while its core search business is valued at only about 10 times. This could be a buy signal, provided the market believes the 2028 earnings forecast is credible and no other competitors take the lead. Just as Alphabet was struggling with monetization difficulties, Microsoft Azure exceeded expectations and guided constant exchange rate growth of 49% to 50% next quarter. This comparison makes the logic of winner differentiation in AI infrastructure investment increasingly clear.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a841b27947b601d240cdab31ff2a548b","relate_stocks":{"GOOX":"2倍做多GOOG ETF-T-REX","GOOG":"谷歌","GOOP":"KURV YIELD PREMIUM STRATEGY GOOGLE (GOOGL) ETF","GOOGL":"谷歌A","AMZN":"亚马逊"},"source_url":"https://wallstreetcn.com/articles/3784823","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2679257740","content_text":"谷歌A/ 谷歌周四遭遇有史以来最惨烈的单日重挫，股价暴跌超11%，市值蒸发约5000亿美元，盘中出现\"死亡交叉\"——即50日移动均线跌破200日移动均线，同时波及更广泛的科技股板块，纳指随之承压下行。Alphabet最新财报击中了市场最敏感的神经：AI投入继续吞噬现金流，股票回购归零，核心搜索业务的定价能力也开始承压。根据彭博一致预期，谷歌搜索、YouTube、订阅以及Google Services均低于预期，集团经营利润为406亿美元，低于市场预期的432亿美元，也低于买方约450亿美元的门槛。这不仅是一次财报层面的失利，更像是AI交易逻辑的一次重新定价。摩根大通、高盛以及Morgan Stanley的评论共同指向同一结论：这份财报令近期刚刚回暖的AI板块风险偏好再度承压，放大了市场对大型科技公司AI资本开支回报的焦虑，摩根大通直言这是“AI/科技交易重新点火的一次挫折”。高盛交易员Thales Arruda则提到，市场正在从“奖励资本开支增长”，转向“要求拿出回报证据”。Alphabet交出的答卷恰好相反。公司自由现金流消耗远超预期，回购在2026年前九个月降至零，同时通过出售股票和发行债券筹资。与此同时，Sundar Pichai强调搜索查询同比增速达到五年来最高，但搜索收入增速却放缓，AI Mode的较低货币化率成为市场最担心的信号。查询量五年新高，搜索收入却创年内最低增速此次财报最令多头不安的矛盾，藏在一组数字的对比之中。Alphabet首席执行官Sundar Pichai在财报中宣称，谷歌搜索的同比查询量增速\"是过去五年来最高的\"。然而，搜索及其他业务收入仅增长12%至633.5亿美元，较第二季度的16.8%和第一季度的19.1%大幅回落，也明显低于买方约14%的预期门槛。用摩根大通交易台Mark Schilsky的话说，这意味着\"谷歌回答的问题比以往任何时候都多，但每个问题获得的报酬却越来越少\"。管理层给出了多重解释。首席商务官Philipp Schindler将汇率列为\"相对于第二季度搜索业务最大的单一拖累因素\"，高盛TMT团队则补充了两项垂直行业因素：欧盟取消最低限额豁免政策冲击亚太地区零售商广告投放，以及FIFA世界杯结束后媒体娱乐广告支出的正常化回落。但市场真正担忧的，是AI模式（AI Mode）对搜索货币化的侵蚀。Schindler承认AI模式存在\"较低的货币化水平\"，同时坚称\"AI模式查询中的大多数是增量性的，随着时间推移将创造更多货币化机会\"。巴克莱分析师Ross Sandler指出，管理层\"优先考虑用户体验而非货币化\"，蓝色链接查询的增速慢于总查询增速，而明年更激进的代理式搜索流程可能令这一差距进一步扩大。他将此定性为投资者\"黄色预警\"。摩根士丹利则指出，Alphabet搜索增速与Meta广告增速之间的差距已扩大至约13个百分点的近期峰值，这强化了市场对广告份额迁移和AI分流的担忧。YouTube同样未能提供缓冲，该业务收入增长9.2%，跌破摩根大通Mark Schilsky此前提到的10%观察线。展望第四季度，CFO Anat Ashkenazi警告汇率逆风将进一步扩大，同时搜索业务还将面临2025年第三季度加速增长带来的高基数压力。云业务亮眼，但利润被AI研发黑洞吞噬财报中唯一超出预期的亮点来自谷歌云。云业务收入同比翻倍至307亿美元，部门利润率从23.7%跃升至36.2%，远超市场约33%的预期，近百家客户已在使用TPU。云业务积压订单达到5610亿美元，同比增长256%，公司称约55%将在未来24个月转化为收入。近100家客户正在使用TPU。但问题在于，云业务的强劲增长未能充分传导至集团利润。Alphabet层面的共享AI研发亏损从一年前的45亿美元扩大至77亿美元，Other Bets再亏损20亿美元。粗略估算，云业务利润增量的约一半，在到达合并利润表之前便已被消耗殆尽。高盛分析师Eric Sheridan在其季报点评中将这一现象概括为\"搜索业务放缓，算力持续需要投入\"。他指出，管理层继续强调前沿模型领导地位，包括Genie 4和Gemini C4 Carbon的发布，同时也承认可用算力仍是云业务进一步加速的限制因素。这也是市场的核心担忧：云业务需求强劲，AI资本开支需求更强。增长看起来存在，现金回报仍需等待。自由现金流告急，回购归零，转而发债卖股此次财报最具冲击性的信息，或许并非来自利润表，而是来自融资活动披露。市场原本预期Alphabet本季度将消耗约35亿美元自由现金流。实际数字接近这一预期的三倍。资本开支为514亿美元，低于市场预期的558亿美元，但经营性现金流同比下降13%至423亿美元，远低于市场预期的539亿美元。资本开支在一年内翻倍，经营性现金流在倒退。更引人注目的是融资结构的根本性转变。在2026年前三季度，Alphabet股票回购金额为零——而2025年同期为398亿美元。与此同时，公司通过按市价发行（ATM）计划出售了1200万股A类股（套现43亿美元）和2400万股C类股（套现81亿美元），合计发行新股124亿美元，ATM计划尚余276亿美元额度。此外，公司还发行了287亿美元优先无担保债券，季度利息支出从一年前的1.43亿美元飙升至9.67亿美元。对比来看，2025年前三季度，Alphabet通过融资活动向投资者返还了444亿美元；而2026年前三季度，公司净融资1158亿美元，包括429亿美元普通股（其中100亿美元来自伯克希尔哈撒韦）、191亿美元强制可转换优先股以及763亿美元净新增债务。管理层表示，预期投资回报率将\"显著高于资本成本\"。但资本成本本身已在上升：Alphabet出售股票的均价约为A类股358美元、C类股338美元，而盘前股价约为290美元，意味着公司以高出当前市价15%至20%的价格完成了融资——这或许是本季度它做出的最划算的一笔交易。市场叙事转向，AI板块面临\"证明回报\"的新考验此次财报的市场影响已超出Alphabet本身，直指整个AI投资逻辑的核心。高盛交易员Thales Arruda在其晨报中指出，市场正在经历从\"奖励资本开支增长\"到\"要求拿出回报证据\"的转变，并将当前的\"痛苦交易\"描述为超大规模云厂商跑输大盘，而去风险化的\"铲子与镐头\"类标的开始发力。他同时指出，信用市场稳定性的改善以及Oracle的财报，对于高杠杆基础设施复合体而言，可能比任何一家超大规模云厂商的财报更具决定性意义。摩根大通市场情报团队则将此次财报定性为\"AI/科技交易重新点火的一次挫折\"，并指出盘前价格走势显示宽基化轮动趋势将延续。该行援引年初先例：今年1月至2月20日期间，能源板块上涨22%，材料板块上涨16%，工业板块上涨14%，而科技板块下跌3.5%，标普500整体涨幅不足1%。摩根大通维持\"战术性看多\"立场，认为主要风险来自中东地缘冲突升级而非财报本身，并表示将逢低买入。在分析师目标价方面，多家机构在维持评级的同时下调目标价：Bernstein从385美元下调至325美元，美银从430美元下调至380美元，摩根大通从425美元下调至375美元，摩根士丹利从400美元下调至375美元，巴克莱从425美元下调至405美元，Susquehanna从460美元下调至400美元。Citizens是唯一一家下调评级至\"市场表现\"的机构。即便经过下调，分析师目标价中位数仍较盘前价格高出约30%。美银指出，以约291美元计算，Alphabet股票对应2027年约19倍市盈率、2028年约16倍市盈率，核心搜索业务估值仅约10倍。这或许是一个买入信号，前提是市场相信2028年的盈利预测是可信的，且没有其他竞争者率先蚕食这块蛋糕。而就在Alphabet挣扎于货币化困境之际，微软Azure超预期增长，并指引下季度固定汇率增速达49%至50%。这一对比，令AI基础设施投资的赢家分化逻辑愈发清晰。","news_type":1,"symbols_score_info":{"SAMZNmain":0.6,"GOOX":0.6,"GOOG":2,"GOOP":0.6,"AMZN":1.54,"GOOGL":1.98}},"isVote":1,"tweetType":1,"viewCount":22,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":598619765088464,"gmtCreate":1787189130941,"gmtModify":1787192675097,"author":{"id":"4219378003326582","authorId":"4219378003326582","name":"Happylam","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4219378003326582","authorIdStr":"4219378003326582"},"themes":[],"title":"","htmlText":"I thought Iran said they never want nuclear. Still use that as excuse?&nbsp;","listText":"I thought Iran said they never want nuclear. Still use that as excuse?&nbsp;","text":"I thought Iran said they never want nuclear. Still use that as excuse?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/598619765088464","repostId":"1102091148","repostType":2,"repost":{"id":"1102091148","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1787180803,"share":"https://ttm.financial/m/news/1102091148?lang=en_US&edition=fundamental","pubTime":"2026-08-20 07:06","market":"fut","language":"zh","title":"Trump announces the toughest economic sanctions in history against Iran","url":"https://stock-news.laohu8.com/highlight/detail?id=1102091148","media":"老虎资讯综合","summary":"8月20日，美国总统特朗普表示，我给伊朗达成协议的机会比任何人都多。因此，今天，我宣布对伊朗采取史上最严厉的经济制裁措施，这将是前所未有的经济战争和孤立。伊朗的海军已经消失，空军已被摧毁，军事工厂如今已沦为废墟，本国货币已经一文不值，而整个国家正处于岌岌可危的境地。任何允许其金融机构、企业、机场或政府实体以任何形式向伊朗提供救助的国家，都将面临巨大的经济后果。伊朗永远不会拥有核武器。","content":"<p><html><head></head><body>On August 20, US President Trump said that he had more opportunities to reach an agreement with Iran than anyone else. Unfortunately, they missed this opportunity. Therefore, today I announce the toughest economic sanctions in history against Iran, which will be an unprecedented economic war and isolation. Iran's navy has disappeared, its air force has been destroyed, its military factories are now in ruins, its currency is worthless, and the entire country is in a precarious situation. Any country that allows its financial institutions, businesses, airports, or government entities to provide aid to Iran in any form will face significant economic consequences. Oil smuggling, swap lines, cash transfers, currency exchange agencies, ship registrations, shell companies—all of these must stop immediately. This will be an Economic D-Day, and we need all allies to stand with the United States in isolating and defeating the threat of Iran. Iran will never have nuclear weapons.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/827bd6a208d1f6fc0942a76f81e10adc\" tg-width=\"582\" tg-height=\"693\"/></p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trump announces the toughest economic sanctions in history against Iran</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrump announces the toughest economic sanctions in history against Iran\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2026-08-20 07:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On August 20, US President Trump said that he had more opportunities to reach an agreement with Iran than anyone else. Unfortunately, they missed this opportunity. Therefore, today I announce the toughest economic sanctions in history against Iran, which will be an unprecedented economic war and isolation. Iran's navy has disappeared, its air force has been destroyed, its military factories are now in ruins, its currency is worthless, and the entire country is in a precarious situation. Any country that allows its financial institutions, businesses, airports, or government entities to provide aid to Iran in any form will face significant economic consequences. Oil smuggling, swap lines, cash transfers, currency exchange agencies, ship registrations, shell companies—all of these must stop immediately. This will be an Economic D-Day, and we need all allies to stand with the United States in isolating and defeating the threat of Iran. Iran will never have nuclear weapons.</p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/827bd6a208d1f6fc0942a76f81e10adc\" tg-width=\"582\" tg-height=\"693\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cf8deb964fe83a788e7ae02a962af884","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102091148","content_text":"8月20日，美国总统特朗普表示，我给伊朗达成协议的机会比任何人都多。遗憾的是，他们错过了这个机会。因此，今天，我宣布对伊朗采取史上最严厉的经济制裁措施，这将是前所未有的经济战争和孤立。伊朗的海军已经消失，空军已被摧毁，军事工厂如今已沦为废墟，本国货币已经一文不值，而整个国家正处于岌岌可危的境地。任何允许其金融机构、企业、机场或政府实体以任何形式向伊朗提供救助的国家，都将面临巨大的经济后果。石油走私、互换额度、现金转账、货币兑换机构、船舶注册、空壳公司——所有这些都必须立即停止。这将是经济层面的“诺曼底登陆日”（Economic D-Day），我们需要所有盟友与美国站在一起，孤立并击败伊朗这一威胁。伊朗永远不会拥有核武器。","news_type":1,"symbols_score_info":{"BZmain":2,"CLmain":2}},"isVote":1,"tweetType":1,"viewCount":1030,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":553935890834032,"gmtCreate":1776249259833,"gmtModify":1776249263307,"author":{"id":"4219378003326582","authorId":"4219378003326582","name":"Happylam","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4219378003326582","authorIdStr":"4219378003326582"},"themes":[],"title":"","htmlText":"So oil price up or down?&nbsp;","listText":"So oil price up or down?&nbsp;","text":"So oil price up or down?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/553935890834032","repostId":"1100881626","repostType":2,"repost":{"id":"1100881626","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1776249040,"share":"https://ttm.financial/m/news/1100881626?lang=en_US&edition=fundamental","pubTime":"2026-04-15 18:30","market":"us","language":"zh","title":"Iranian military responds to US naval blockade: It will not allow import and export activities in the Persian Gulf, Gulf of Oman, and Red Sea.","url":"https://stock-news.laohu8.com/highlight/detail?id=1100881626","media":"老虎资讯综合","summary":"将不会允许波斯湾、阿曼湾和红海的活动。","content":"<p><html><head></head><body>spokesman for the Iranian Armed Forces' Central Headquarters, Khatam Ambia, said on the 15th that if the United States continues to impose a naval blockade, causing insecurity for Iranian merchant ships and oil tankers, the Iranian armed forces will not allow any import or export activities to continue in the Persian Gulf, the Gulf of Oman, and the Red Sea. (Xinhua)</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Iranian military responds to US naval blockade: It will not allow import and export activities in the Persian Gulf, Gulf of Oman, and Red Sea.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIranian military responds to US naval blockade: It will not allow import and export activities in the Persian Gulf, Gulf of Oman, and Red Sea.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2026-04-15 18:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>spokesman for the Iranian Armed Forces' Central Headquarters, Khatam Ambia, said on the 15th that if the United States continues to impose a naval blockade, causing insecurity for Iranian merchant ships and oil tankers, the Iranian armed forces will not allow any import or export activities to continue in the Persian Gulf, the Gulf of Oman, and the Red Sea. (Xinhua)</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/38cfb2441cfaaf2a4102f2352eb89787","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100881626","content_text":"伊朗武装部队哈塔姆安比亚中央总部发言人15日表示，如果美国继续实施海上封锁，造成伊朗商船和油轮的不安全，那么伊朗武装力量将不会允许在波斯湾、阿曼湾和红海继续进行任何进出口活动。(新华社)","news_type":1,"symbols_score_info":{"BZmain":2,"CLmain":2}},"isVote":1,"tweetType":1,"viewCount":2514,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":true}