Equity Research Analyst at DM Martins Research.The best opportunities often don’t scream for attention. I cover stocks that are often undercovered, focusing primarily on Brazil and Latin America — but I also occasionally write about global large caps. My work can also be found on TipRanks, where I contribute regularly, and on TheStreet, where I was a frequent contributor in the past.- Disclaimer: All views expressed here are my own and do not necessarily reflect the views or official positions of DM Martins ...

RBC Capital上调爱彼迎目标价至170美元 Truist上调爱彼迎目标价至107美元 RBC Capital将爱彼迎的目标价从145美元上调至170美元，评级上调至"跑赢大市"。(格隆汇) 相关事件 ...

布斯廷杜伊说："成千上万家庭因住房问题濒临崩溃，少数人却通过将民众逐出家园的商业模式致富。" 新华财经北京12月16日电 西班牙消费者事务部15日宣布，对国际短租房平台美国爱彼迎公司处以逾 6400万欧元罚款，因其发布大量违反西班牙租房市场规范的房源广告。西班牙此举旨在遏制过度旅游给 相关地区居民带来的住房成本上涨等问题。 西班牙政府联合部分地方行政当局，着手严厉打击通过爱彼迎、缤客等平台面向游客发布不合规短租房 广告的行为。许多西班牙民众认为这些平台导致供应居民的租房房源不足，加剧了过度旅游、住房成本 上涨等问题。 爱彼迎今年7月已撤下逾6.5万条违规房源广告，这些广告涉及没有许可证、许可证信息不符等多种情 形。 消费者事务部在声明中说，罚金相当于爱彼迎收到违规广告警告至广告下架期间所获非法利润的6倍。 依照消费者事务大臣巴勃罗·布斯廷杜伊说法，这是该部针对企业侵犯消费者权益开出的第二大罚单。 该公司说，西班牙7月修订关于短租房的法规，爱彼迎随后与西班牙相关部门展开合作，推行新的房源 登记制度。依照该公司说法，自今年以来，爱彼迎已有超过7万条房源信息添加了登记编号。 据法新社报道，西班牙是全球最受欢迎的第二 ...

Summary of Key Points from J.P. Morgan's US Internet 2026 Outlook Industry Overview - The report focuses on the **US Internet** sector, providing insights into market performance, macroeconomic factors, and company-specific forecasts for 2026. Core Insights and Arguments 1. **2025 Performance Recap**: - The internet sector outperformed the S&P 500 by 17% in 2025, with average performance across market caps showing significant variation: - Large Cap: +19% - Mid-Cap: +42% - Small Cap: +21% - Smaller Cap (<$2B): -16% [12][13] 2. **2026 Macro Outlook**: - J.P. Morgan economists estimate a **35% risk of recession** in 2026, with expectations of resilient global growth driven by fiscal stimulus and capital expenditure [19][23]. - Key economic indicators include: - GDP Growth: 1.8% in 2026 - Inflation: Expected to remain above 3% CPI - Unemployment: Projected to peak at 4.5% in Q1 2026 [21][19]. 3. **Investment Recommendations**: - **Top Picks for 2026** include: - Alphabet (Overweight, $385 PT): Growth driven by AI and cloud services [46]. - Amazon (Overweight, $305 PT): Expected growth in AWS and retail segments [51]. - DoorDash (Overweight, $300 PT): Anticipated GOV growth of 18% CAGR from 2025-2028 [57]. - Spotify (Overweight, $805 PT): Projected revenue growth driven by premium subscriptions [66]. 4. **AI and Cloud Growth**: - AI is expected to significantly drive cloud growth, with Google Cloud projected to grow in the mid-40% range and AWS adding the highest estimated revenue in 2026 [101][102]. - The report highlights the importance of AI in enhancing operational efficiencies and driving revenue growth across various sectors [78]. 5. **Valuation Metrics**: - The S&P 500 is projected to have a price target of **$7,500** by the end of 2026, suggesting a 9% upside [26]. - Internet companies are trading at an average of **10.2x 2027E EV/EBITDA**, with expected revenue growth of approximately **13% CAGR** from 2025 to 2027 [40]. Additional Important Insights 1. **Market Dynamics**: - The report discusses the competitive landscape in the AI space, noting that leading model developers like Google and OpenAI are pushing the frontier, but competition remains intense [89][94]. - The potential for AI-driven advertising and e-commerce growth is highlighted, with expectations for significant market share shifts in the online ad market [112]. 2. **Company-Specific Catalysts**: - Alphabet's AI tools are expected to enhance productivity and revenue, while Amazon's AWS is set to double its capacity by 2027 [56][88]. - DoorDash is focusing on expanding its marketplace and improving unit economics, while Spotify is ramping up its free cash flow and operating margins [60][68]. 3. **Key Questions for 2026**: - The report raises critical questions regarding AI monetization, the impact of AI on cloud growth, and the potential for disruption in various sectors, including travel and e-commerce [76][124]. This summary encapsulates the essential insights and projections for the US Internet sector as outlined in the J.P. Morgan report, providing a comprehensive overview of the anticipated trends and investment opportunities for 2026.

（原标题：哥伦比亚或出台新规迫使爱彼迎退出市场） 据哥伦比亚《时代报》12月11日报道，哥贸易、工业和旅游部拟公布一项法案，被业界指可能令爱 彼迎（Airbnb）等短租平台在哥面临停摆，法案预计于12月18日生效。 哥信息通信商会表示，新规设置了技术和法律上几乎无法满足的条件，相当于对非酒店类民宿施加 事实审批，并改变《全国旅游登记》的制度框架。商会称，新规将冲击创造超21.5万个就业、贡献逾5.5 亿美元的短租经济，并影响600多个市镇的旅游流量。大量依赖短租收入的中产家庭、女性和老年房东 可能被迫退出正规市场，从而增加行业的非正规化风险。业界呼吁政府尽快展开技术性对话，避免年底 出现数字化旅游平台断流。 ...

Vladimir Dimitrov, CFA is a former strategy consultant within the field of brand and intangible assets valuation. During his career in the City of London he has been working with some of the largest global brands within the technology, telecom and banking sectors. He graduated from the London School of Economics and is interested in finding reasonably priced businesses with sustainable long-term competitive advantages.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of t ...

The Airbnb logo displayed Dec. 2020 outside at the Nasdaq Exchange before the opening bell and the Airbnb IPO in Times Square in New York City, N.Y. Last year in November, official figures showed that approximately 321,000 Spanish homes held a holiday rental license in Spain, which was a 15% increase compared to 2020. File Photo by John Angelillo/UPI | License Photo Dec. 15 (UPI) -- Spain imposed a fine on Airbnb for tens of millions for allegedly listing properties that were either prohibited or did not ho ...

Airbnb may finally pay the price of long-simmering tensions about overtourism in Spain. The Spanish government announced on Monday that it has fined the online rentals giant 64 million euros ($75 million) for advertising unlicensed rental listings in the country. This decision is the latest in several months of back-and-forths, as the government previously ordered Airbnb to remove more than 120,000 listings it identified as unlicensed. While Spain's Consumer Affairs Ministry said the fine was a final decisi ...

Airbnb ( ABNB ) has become such a well-known brand that when people hear Airbnb, most of them don't think about the company. Their mind immediately thinks about vacation, staying somewhere unfamiliar, unique, and authentic, and a trustworthy travel experience without a hotel experience.I aim to invest in companies with perfect qualitative attributes, buy them at an attractive price based on fundamentals, and hold them forever. I hope to publish articles covering such companies approximately 3 times per week ...

Spain has intensified its campaign against short-term holiday rentals by fining Airbnb €64 million for advertising unlicensed tourist homes. The penalty, announced by the Consumer Rights Ministry on M... ...