（原标题：调仓风向标|易方达张坤：逢高减持互联网，增持快递旅游板块） 中国基金报 孙晓辉 编者按：四月中旬起，公募基金2025年度一季报陆续披露，明星基金经理们的调仓动作和仓位变化也成为基民们关注的焦点。而在每一份定期报 告背后，也隐藏着这些优秀管理人的"投资秘籍"。基金君将继续为大家更新人物库专题【调仓风向标】，解码明星基金产品持仓变化及其管理人 的投资理念。 曾经的"顶流"如何换股调仓？4月22日，易方达基金张坤管理的4只主动权益基金公布2025年一季报。截至今年一季度末，张坤持仓总体稳定，保 持高仓位运作。他在今年一季度对结构进行了优化，调整了消费和科技等行业的持仓结构。 一季报中，张坤表示，自下而上观察，部分行业的竞争格局正在改善，投资者与其纠结于经济，不如把着眼点放在企业上。因为股票的收益率是 由企业的收益率决定的，拉长来看大致相当于企业的ROE水平。过去几年发生的股票收益率连续低于企业ROE水平的现象，他认为不会长期持续 下去。 本期【调仓风向标】，基金君将为大家详解易方达基金经理张坤今年一季报及其调仓变化。 一季度继续维持高仓位运作 张坤目前在管基金4只，截至今年一季度末总规模重返600亿元以上 ...

Core Viewpoint - The article discusses the current state of the stock market, highlighting the positive performance of major indices due to strong earnings expectations from tech companies, while also emphasizing the importance of investing in low-leverage stocks to mitigate risks during market volatility [1][2]. Group 1: Market Overview - All three major stock indices of Wall Street ended positively on April 24, driven by better-than-expected earnings anticipation from tech giants like Alphabet and Intel [1]. - Investors remain cautious due to recent tariff announcements by U.S. President Trump, which have caused volatility in the global stock market [1][2]. Group 2: Investment Strategy - Investors are advised to focus on low-leverage stocks to minimize risks during market downturns [2][6]. - Low-leverage stocks are characterized by lower debt-to-equity ratios, which indicate improved solvency and reduced financial risk [7][9]. Group 3: Stock Selection Criteria - The article outlines specific criteria for selecting low-leverage stocks, including: - Debt/Equity less than the industry median [11]. - Current price of at least $10 [11]. - Average 20-day volume of at least 50,000 shares [11]. - Positive earnings growth compared to the industry median [11]. - VGM Score of A or B combined with a Zacks Rank of 1 or 2 [12]. - Estimated one-year EPS growth greater than 5% [12]. Group 4: Company Highlights - **Bilibili (BILI)**: Reported 104 million daily active users in 2024, with a projected 11% sales improvement for 2025 and a Zacks Rank of 2 [13][14]. - **Kingstone Companies (KINS)**: Announced a $70 million agreement to provide replacement policies in New York, with a projected 37.9% sales improvement for 2025 and a Zacks Rank of 1 [15]. - **Engie S.A. (ENGIY)**: Secured a 10-year extension for nuclear reactors, leading to a projected 19.6% earnings improvement for 2025 and a Zacks Rank of 1 [16]. - **ASML Holding (ASML)**: Achieved a 46.3% year-over-year increase in net sales and a 92.9% increase in earnings per share, with a projected 21.5% sales improvement for 2025 and a Zacks Rank of 2 [17][18]. - **Resmed (RMD)**: Reported an 8% revenue increase and a 13% surge in adjusted net income, with a projected 9% sales improvement for fiscal 2025 and a Zacks Rank of 2 [19].

ASML TodayASMLASML$671.95 +13.97 (+2.12%) 52-Week Range$578.51▼$1,110.09Dividend Yield0.97%P/E Ratio32.38Price Target$906.00Add to WatchlistASML NASDAQ: ASML may not get as much attention as the famous Magnificent Seven stocks, but it is still one of the world's most important companies. This semiconductor stock makes extreme ultraviolet (EUV) lithography machines. They play a vital role in manufacturing advanced chips, and the company has a near-monopoly in this equipment. ASML recently released earnings. ...

ASML Holding (ASML 0.92%) stock fell sharply after the company released its first-quarter 2024 results on April 16, dropping 7% in a single session as the semiconductor giant's outlook was clouded by the ongoing tariff-related turmoil. The Dutch company, which makes semiconductor manufacturing equipment used by leading chipmakers and foundries around the globe, delivered stronger-than-expected quarterly results that were ahead of Wall Street's expectations. However, ASML's revenue guidance for the current q ...

ASML discloses 2025 AGM results Veldhoven, the Netherlands, April 23, 2025 – ASML Holding N.V. (ASML) today announces the results of its Annual General Meeting (AGM) held on April 23, 2025. At the AGM, ASML’s statutory financial statements for the 2024 financial year were adopted. In addition, the following items were approved: Proposal to adopt a final dividend payment of €1.84 per ordinary share, which, together with the two interim dividends paid through the 2024 financial year and the interim dividend ...

作者 | Bay Area Ideas 编译 | 华尔街大事件 自分析师在 2 月初给予 强烈买入 评级以来，ASML(NASDAQ: ASML ) 已经下跌了约 14%。虽 然该股确实看起来被低估了，但目前已不值得买入 。在下面的分析中，技术面显示，随着看跌情 绪的回归，该股近期的反弹似乎已经结束。此外，并未就底部已经形成达成共识，因此可能会进 一步下跌。就基本面而言，最近的收益还不错，但第二季度的预期疲软，预计收入增长将大幅下 降。 尽管如此，投资者可能反应过度，因为尽管预计增长率将处于平均水平左右，但市销率已跌至多 年低点。这使得该股被低估。但是，分析师不会逢低买入，因为在这种环境下，看跌的技术面和 增长放缓的结合不太可能带来回报。 对于具有长期投资期限的投资者来说，现在可能是一个入场的好机会，但总体而言，分析师将股 票评级下调为持有，因为未来可能会有更好的切入点。 ASML 股价的下行趋势始于 2 月中旬的看跌吞没形态。目前，该股位于趋势线下方相当远的位 置，因此其阻力位目前并不十分重要。ASML 在此时间范围内没有支撑位，因此不应排除近期进 一步下跌的可能性。 ASML目前仍处于下行趋势，且在此时间 ...

Core Viewpoint - The article emphasizes the importance of identifying growth stocks with strong financial growth potential, highlighting ASML as a recommended stock due to its favorable growth metrics and Zacks Rank. Group 1: Earnings Growth - ASML has a historical EPS growth rate of 19.7%, with projected EPS growth of 29% this year, surpassing the industry average of 28.3% [4][3]. Group 2: Asset Utilization Ratio - ASML's asset utilization ratio (sales-to-total-assets ratio) is 0.69, indicating that the company generates $0.69 in sales for every dollar in assets, which is higher than the industry average of 0.66 [5]. Group 3: Sales Growth - The company's sales are expected to grow by 18.2% this year, compared to the industry average of 14% [6]. Group 4: Earnings Estimate Revisions - The current-year earnings estimates for ASML have increased by 5.8% over the past month, indicating a positive trend in earnings estimate revisions [7]. Group 5: Overall Recommendation - ASML has achieved a Growth Score of A and a Zacks Rank of 2, positioning it well for potential outperformance in the growth stock category [9].

Core Viewpoint - The article emphasizes the importance of ASML Holding N.V. in the semiconductor manufacturing sector, suggesting a strong investment opportunity in the company due to its critical products [1]. Group 1: Company Overview - ASML is recognized as a vital equipment company for semiconductor manufacturing, indicating its significant role in the tech industry [1]. Group 2: Investment Perspective - The author expresses a strong bullish sentiment towards ASML, advocating for an "all-in" investment strategy based on the company's essential contributions to the semiconductor sector [1].

This account is managed by Noah's Arc Capital Management. Our goal is provide Wall Street level insights to main street investors. Our research focus is mainly on 20th century stocks (old economy) undergoing a 21st century transformation, but occasionally we'll write on companies that help transform 20th century firms as well. We look for innovations in a business model that will cause a stock to change dramatically. Associated with SA contributor Elijah Buell.Analyst’s Disclosure: I/we have a beneficial lo ...

Shares of ASML Holding (ASML -2.84%) slipped after the company's net bookings, or orders, came in below expectations, and it warned that tariffs were creating uncertainty. The stock has fallen about 30% over the past year, as of this writing, largely due to concerns related to Chinese trade restrictions and, more recently, the impact of tariffs.ASML makes equipment that semiconductor foundries use to manufacture chips. The Dutch company has a virtual monopoly on extreme ultraviolet (EUV) lithography, which ...