UBER(#UBER) weekly special report based On 1.00 Lot Calculation:
GLOBAL TECHNOLOGY INDUSTRY:
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THE TECHNOLOGY INDUSTRY IS CURRENTLY WORTH ~$11.5t: According to the most recent reports, the global technology industry is worth approximately $11.5t as of May 2022.
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MARKET POTENTIAL: THE TECHNOLOGY INDUSTRY IS EXPECTED TO GROW AT 10.3% PER YEAR UNTIL 2026: Analysts are forecasting that at the current rate of growth, the Global Technology industry is expected to reach $13.8trillion in value. This represents an industry growth of ~10.3% per year.
US TECHNOLOGY SECTOR:
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THE US TECHNOLOGY SECTOR HAS SHOWN ROBUST GROWTH: The U.S technology sector has shown strong growth. The sector’s Market Cap grew from ~$6.0t to ~$10.0t. This represents a total growth of 66%.
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SECTOR GROWTH TO CONTINUE: According to analysts, the technology sector earnings are expected to grow. Currently, average sector earnings sit at ~$358.6b and are forecasted to grow on average 14% per year over the next three years according to analysts.
UBER (ANALYSIS AND EVENTS)
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THE COMPANY: Uber technologies provide ride hailing services. However, the company also develops applications for road transportation, navigation, ride sharing and payment solutions. It also provides food, meal and grocery delivery services.
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EVENT: Q4 2022 EARNINGS (CONFIRMED FEBRUARY 8, 2023) UBER EXPECTED TO REPORT LARGEST EVER ANNUAL REVENUE IN THE COMPANY’S HISTORY ($31.69b): Uber is expected to report its Q4 2022 earnings report on Feb 8, 2022. Revenue has beaten 7 out of the last 8 reports. Since 2019, Uber has grown its revenue from $13B to $17.5B in 2021, with 2022 annual revenue is set to print $31.69B. This would represent a growth of 81% year-on-year, and a 143% growth on its 2019 annual revenue.
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UBER HAS GROWN ITS MONTHLY USER BASE FROM 68 MILLION IN 2017 TO 122 MILLION IN 2022: Uber has grown its monthly active users significantly, growing from 68 million in 2017 to 122 million in 2022 according to reports. This represents a growth of 79.4%, with the trend expected to continue.
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AS OF Q3 2022, UBER HAD ~71% OF ALL RIDESHARE SALES IN THE UNITED STATES: According to statistics, Uber had about 71% of rideshare sales in the United States, with only Lyft competing seriously having 29%.
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THE GLOBAL RIDE SHARE MARKET IS EXPECTED TO GROW FROM $85.8B TO $185.1B BY 2026: The ride share market is expected to grow at a compounded annual growth rate of 16.6%, to $185.1B by 2026.
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ANALYST OPINION: Morningstar’s price target is $73. MorganStanley is targeting $54.00. Citi is targeting $48. The Consensus Bloomberg price target is at $45.81.
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STOCK PRICE ACTION: THE STOCK HAS HAD A DOWNWARD CORRECTION OF AROUND 68.93% FROM IT'S ALL- TIME HIGH OF $64.05. The stock has fallen to its lowest rate since June, 2022, to $19.90 (June 30, 2022). Uber was last trading at around $29 and If a full recovery follows recent all- time highs, the stock could see an upside of around ~120%. However, it could go lower.
Uber, January 31, 2023
Current Price: 29.00
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Uber |
Weekly |
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Trend direction |
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50.00 |
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|
42.00 |
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36.00 |
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|
24.00 |
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|
20.00 |
|
|
18.00 |
Example of calculation based on weekly trend direction for 1.00 Lot1
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Uber |
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Pivot Points |
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Profit or loss in $ |
21,000.00 |
13,000.00 |
7,000.00 |
-5,000.00 |
-9,000.00 |
-11,000.00 |
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Profit or loss in €2 |
19,406.89 |
12,013.79 |
6,468.96 |
-4,620.69 |
-8,317.24 |
-10,165.51 |
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Profit or loss in £2 |
17,045.45 |
10,551.95 |
5,681.82 |
-4,058.44 |
-7,305.19 |
-8,928.57 |
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Profit or loss in C$2 |
28,691.46 |
17,761.38 |
9,563.82 |
-6,831.30 |
-12,296.34 |
-15,028.86 |
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1.00 lot is equivalent of 1000 units
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Calculations for exchange rate used as of 11:45(GMT) 31/01/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.
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You may wish to consider closing your position in profit, even if it is lower than suggested one
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Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more detail