<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/02/midnight-side-profile-on-tarmac-1.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/02/midnight-side-profile-on-tarmac-1.jpg"/></p>
<p>Archer Aviation（纽约证券交易所：ACHR）股价今年持续低迷，继续表现不佳，跌幅超过 34%。与此同时，纳斯达克 100 指数和标普 500 指数上涨超过 17%。其他飞行汽车股票如 Joby Aviation 今年也出现回落。</p>
<h2>Archer Aviation 取得进展</h2>
<p>作为最大的 eVTOL 或飞行汽车公司之一，Archer Aviation 在 2026 年推出和商业化其项目方面取得了很大进展。</p>
<p>除了进行重要测试外，该公司还获得了美国监管机构的重要认证。第一项认证确保公司可以在美国开展空中出租车业务。此外，美国联邦航空局已经确定了 Midnight 的适航标准，使其能够进入下一阶段的认证。</p>
<p>最重要的是，得到美国联合航空公司和斯泰利斯集团支持的 Archer Aviation 已经获得大量订单。其订单积压额接近 60 亿美元。最近的订单来自 Future Flight Global，订购了 116 架飞机。</p>
<p>Archer 还在努力完善其工厂，以确保在认证过程结束后立即开始生产 eVTOL。公司希望年产 615 架 eVTOL。</p>
<p>尽管 Midnight 的最终价格尚未公开，但据估计，飞机价格约为 500 万美元，这意味着公司每年将获得超过 30.7 亿美元的收入。</p>
<p>Archer Aviation 在其他领域也取得了进展。例如，它已经收到了美国军方的订单，并与西南航空达成协议。</p>
<h2>仍然存在多重挑战</h2>
<p>Archer Aviation 和其他 eVTOL 公司面临着几个挑战。首先，尚不清楚该行业在推出时是否会受到用户的青睐。像麦肯锡这样的公司的报告描绘了他们未来的美好前景。</p>
<p>在 2021 年的一份报告中，顾问预测该行业的价值将超过 3000 亿美元，甚至可能达到 10 万亿美元，并且将由约 5 家公司主导。如果情况如此，一些最先进的公司将是值得关注的，包括 Archer、Lilium、Volocopter 和 Joby Aviation。</p>
<p>随着城市变得更加拥挤，许多人花费数小时在交通拥堵中，现在存在对 eVTOL 的需求。</p>
<p>然而，作为一个新兴行业，这些报告是基于假设的。过去，许多类似的预测并未实现。一个很好的例子是在 3D 打印行业，麦肯锡估计该行业在 2022 年的价值将达到 140 亿美元。如今，大多数 3D 打印股票如 3D Systems、Desktop Metal 和 Stratasys 都遭遇了重挫。</p>
<p>Archer Aviation 投资者面临的另一个重大挑战是股权稀释。TradingView 的数据显示，该公司最初以 5000 万股开始交易，这一数字已飙升至超过 2.98 亿股。</p>
<p>由于需要资金以及与其最大投资者斯泰利斯的安排，这种股权稀释将继续。</p>
<p>斯泰利斯已向该公司投资 3 亿美元。最近刚刚提供了 5,000 万美元。根据协议，斯泰利斯将通过 2030 年几乎花费 4 亿美元来资助其制造。作为回报，Archer Aviation 将根据斯泰利斯的支出每个季度向其发行新股。</p>
<p>这是一个很好的安排，因为它表明斯泰利斯对 Archer 的未来充满信心。然而，现有投资者应为可预见的未来股权稀释做好准备。</p>
<p>此外，与该行业的许多公司一样，Archer 在一段时间内不会盈利，这意味着它将需要不断筹集资金。就在本月，该公司从机构投资者、斯泰利斯和联合航空公司筹集了 2.6 亿美元现金。</p>
<p>这些资金将不足以支撑很长时间，因为预计本季度的非 GAAP 运营支出将在 9000 万至 1 亿美元之间。</p>
<h2>Archer Aviation 股票：风险与回报</h2>
<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/08/Archer-Aviation-stock-1024x568.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/08/Archer-Aviation-stock-1024x568.png"/></p>
<p>那么，Archer Aviation 股票是一个好的投资吗？从积极的一面来看，我们认为公司在发展和订单簿方面处于一个良好的位置。它还拥有一群在航空和制造行业有多年经验的强大投资者。</p>
<p>最重要的是，如果分析师的乐观估计成真，Archer Aviation 将成为 eVTOL 行业的主要参与者。此外，其 Midnight 飞机将成为该领域最大的飞机。此外，由于其股价从 18 美元暴跌至 3.82 美元，股票看起来便宜。</p>
<p>然而，我认为目前它是一个风险投资，因为股权稀释和其行业尚未经过检验。尽管它从美国和其他国家获得了大量订单，但尚不清楚客户是否会看到购买这些产品的巨大好处。</p>
<p>一个很好的例子是它与联合航空的关系，后者将在芝加哥奥黑尔机场开展空中出租车服务。理想情况下，联合航空将使用出租车服务将乘客从机场运送到市中心。尽管这个概念很好，但尚不清楚它是否会取得成功。</p>
<p>文章来源：Invezz</p>

ACHR

<p>Archer Aviation（NYSE: ACHR）面临着巨大的股价压力，在 2024 年下跌超过 34%，表现不及纳斯达克 100 和标普 500。尽管面临挑战，该公司在其 eVTOL 空中出租车的认证方面取得了进展，并且订单积压量接近 10 亿美元。然而，投资者担忧行业吸引力、潜在的股票稀释以及持续的资本需求。分析师认为，如果 eVTOL 市场蓬勃发展，可能会带来潜在回报，但也警告投资者要警惕由于财务不稳定和竞争而带来的风险</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/02/midnight-side-profile-on-tarmac-1.jpg" alt="" original-src="https://invezz.com/wp-content/uploads/2024/02/midnight-side-profile-on-tarmac-1.jpg"/></p>
<p>Archer Aviation (NYSE: ACHR) stock price has remained under pressure this year as it continued to underperform the broader market. It has slipped by over 34% in 2024 while the Nasdaq 100 and S&amp;P 500 indices have risen by over 17%. Other flying car stocks like Joby Aviation have also retreated this year.</p>
<div class="lb-trans"><p>Archer Aviation（纽约证券交易所：ACHR）股价今年持续低迷，继续表现不佳，跌幅超过 34%。与此同时，纳斯达克 100 指数和标普 500 指数上涨超过 17%。其他飞行汽车股票如 Joby Aviation 今年也出现回落。</p>
</div><h2>Archer Aviation has made progress</h2>
<div class="lb-trans"><h2>Archer Aviation 取得进展</h2>
</div><p>Archer Aviation, one of the biggest eVTOL or flying car companies, has made a lot of progress as it works to launch and commercialize its projects in 2026.</p>
<div class="lb-trans"><p>作为最大的 eVTOL 或飞行汽车公司之一，Archer Aviation 在 2026 年推出和商业化其项目方面取得了很大进展。</p>
</div><p>In addition to significant testing, the firm has received important certification by US regulators. The first certification ensures that the company can run its air taxi business in the United States. Also, the FAA has finalized Midnight’s airworthiness criteria as it moves to the next phases of certification.</p>
<div class="lb-trans"><p>除了进行重要测试外，该公司还获得了美国监管机构的重要认证。第一项认证确保公司可以在美国开展空中出租车业务。此外，美国联邦航空局已经确定了 Midnight 的适航标准，使其能够进入下一阶段的认证。</p>
</div><p>Most importantly, Archer Aviation, which is backed by United Airlines and Stellantis, has received substantial orders. Its order backlog stands at almost $6 billion. The most recent order came from Future Flight Global, which ordered 116 aircraft.</p>
<div class="lb-trans"><p>最重要的是，得到美国联合航空公司和斯泰利斯集团支持的 Archer Aviation 已经获得大量订单。其订单积压额接近 60 亿美元。最近的订单来自 Future Flight Global，订购了 116 架飞机。</p>
</div><p>Archer has also been working on its factory to ensure that it start manufacturing the eVTOLs immediately the certification process ends. It hopes to have a manufacturing capacity of 615 eVTOL’s annually.</p>
<div class="lb-trans"><p>Archer 还在努力完善其工厂，以确保在认证过程结束后立即开始生产 eVTOL。公司希望年产 615 架 eVTOL。</p>
</div><p>While the final price of midnight is not yet public, it is estimated that the aircraft will cost about $5 million, meaning that the company will be making over $3.07 billion annually.</p>
<div class="lb-trans"><p>尽管 Midnight 的最终价格尚未公开，但据估计，飞机价格约为 500 万美元，这意味着公司每年将获得超过 30.7 亿美元的收入。</p>
</div><p>Archer Aviation has made progress in other areas. For example, it has already received an order by the US Army and reached a deal with Southwest Airlines.</p>
<div class="lb-trans"><p>Archer Aviation 在其他领域也取得了进展。例如，它已经收到了美国军方的订单，并与西南航空达成协议。</p>
</div><h2>Multiple challenges remain</h2>
<div class="lb-trans"><h2>仍然存在多重挑战</h2>
</div><p>Archer Aviation and other eVTOL companies are facing several challenges. First, it is unclear whether the industry will gain traction among users when it launches. Reports by companies like McKinsey have painted a good picture about their future.</p>
<div class="lb-trans"><p>Archer Aviation 和其他 eVTOL 公司面临着几个挑战。首先，尚不清楚该行业在推出时是否会受到用户的青睐。像麦肯锡这样的公司的报告描绘了他们未来的美好前景。</p>
</div><p>In a 2021 report, the consultants predicted that the industry would be worth over $300 billion or even $10 trillion and that it would be dominated by about 5 companies. If this is the case, some of the most advanced companies to watch will be Archer, Lilium, Volocopter, and Joby Aviation.</p>
<div class="lb-trans"><p>在 2021 年的一份报告中，顾问预测该行业的价值将超过 3000 亿美元，甚至可能达到 10 万亿美元，并且将由约 5 家公司主导。如果情况如此，一些最先进的公司将是值得关注的，包括 Archer、Lilium、Volocopter 和 Joby Aviation。</p>
</div><p>A need for eVTOLs exists now that cities have gotten more crowded and many people are spending hours in traffic.</p>
<div class="lb-trans"><p>随着城市变得更加拥挤，许多人花费数小时在交通拥堵中，现在存在对 eVTOL 的需求。</p>
</div><p>However, as a new industry, these reports are based on assumptions. In the past, many similar predictions have not worked out. A good example of this is in the 3D printing industry, which McKinsey estimated would be worth $14 billion in 2022. Today, most 3D printing stocks like 3D Systems, Desktop Metal, and Stratasys have crashed.</p>
<div class="lb-trans"><p>然而，作为一个新兴行业，这些报告是基于假设的。过去，许多类似的预测并未实现。一个很好的例子是在 3D 打印行业，麦肯锡估计该行业在 2022 年的价值将达到 140 亿美元。如今，大多数 3D 打印股票如 3D Systems、Desktop Metal 和 Stratasys 都遭遇了重挫。</p>
</div><p>The other big challenge for Archer Aviation investors is that of dilution. Data by TradingView shows that the company started trading with 50 million shares, a figure that has soared to over 298 million.</p>
<div class="lb-trans"><p>Archer Aviation 投资者面临的另一个重大挑战是股权稀释。TradingView 的数据显示，该公司最初以 5000 万股开始交易，这一数字已飙升至超过 2.98 亿股。</p>
</div><p>This dilution will continue because of the need for capital and its arrangement with Stellantis, its biggest investor.</p>
<div class="lb-trans"><p>由于需要资金以及与其最大投资者斯泰利斯的安排，这种股权稀释将继续。</p>
</div><p>Stellantis has invested $300 million in the company. It just handed it $50 million recently. According to the arrangement, Stellantis will fund its manufacturing by spending almost $400 million by 2030. In return, Archer Aviation will issue new shares to Stellants each quarter based on the amount spent.</p>
<div class="lb-trans"><p>斯泰利斯已向该公司投资 3 亿美元。最近刚刚提供了 5,000 万美元。根据协议，斯泰利斯将通过 2030 年几乎花费 4 亿美元来资助其制造。作为回报，Archer Aviation 将根据斯泰利斯的支出每个季度向其发行新股。</p>
</div><p>This is a good arrangement because it shows that Stellantis is highly confident in Archer’s future. However, existing investors should be prepared for more dilution for the foreseeable future.</p>
<div class="lb-trans"><p>这是一个很好的安排，因为它表明斯泰利斯对 Archer 的未来充满信心。然而，现有投资者应为可预见的未来股权稀释做好准备。</p>
</div><p>Besides, Archer, like many companies in the industry, will not be profitable for a while, meaning that it will need to keep raising money. Just this month, the company raised $260 million in cash from institutional investors, Stellantis, and United.</p>
<div class="lb-trans"><p>此外，与该行业的许多公司一样，Archer 在一段时间内不会盈利，这意味着它将需要不断筹集资金。就在本月，该公司从机构投资者、斯泰利斯和联合航空公司筹集了 2.6 亿美元现金。</p>
</div><p>These funds will not be enough to push it for a long time since it expects that non-GAAP operating expenses of between $90 million to $100 million in the current quarter.</p>
<div class="lb-trans"><p>这些资金将不足以支撑很长时间，因为预计本季度的非 GAAP 运营支出将在 9000 万至 1 亿美元之间。</p>
</div><h2>Archer Aviation stock: risk vs reward</h2>
<div class="lb-trans"><h2>Archer Aviation 股票：风险与回报</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/08/Archer-Aviation-stock-1024x568.png" alt="" original-src="https://invezz.com/wp-content/uploads/2024/08/Archer-Aviation-stock-1024x568.png"/></p>
<p>So, is Archer Aviation stock a good investment? On the positive side, we believe that the company is in a good place in terms of its development and orderbook. It also has a group of strong investors who have many years in the aviation and manufacturing industries.</p>
<div class="lb-trans"><p>那么，Archer Aviation 股票是一个好的投资吗？从积极的一面来看，我们认为公司在发展和订单簿方面处于一个良好的位置。它还拥有一群在航空和制造行业有多年经验的强大投资者。</p>
</div><p>Most importantly, Archer Aviation will become a major player in the eVTOL industry if the rosey estimates by analysts work out well. Besides, its Midnight plane would be the biggest one in the sector. Also, the stock seems cheap since it has crashed from a record high of $18 to $3.82.</p>
<div class="lb-trans"><p>最重要的是，如果分析师的乐观估计成真，Archer Aviation 将成为 eVTOL 行业的主要参与者。此外，其 Midnight 飞机将成为该领域最大的飞机。此外，由于其股价从 18 美元暴跌至 3.82 美元，股票看起来便宜。</p>
</div><p>However, I believe that it is a risky investment for now because of the dilution aspect and the fact that its industry has not been tested. While it has a huge order book from the US and other countries, it is still unclear whether the customers will see a big benefit of buying these products.</p>
<div class="lb-trans"><p>然而，我认为目前它是一个风险投资，因为股权稀释和其行业尚未经过检验。尽管它从美国和其他国家获得了大量订单，但尚不清楚客户是否会看到购买这些产品的巨大好处。</p>
</div><p>A good example of this is its relationship with United, which will start an air taxi service in Chicago’s O’Hare Airport. Ideally, United would use the taxi service to transport people from the airport to the city center. While the concept is a good one, it is unclear whether it will be successful.</p>
<div class="lb-trans"><p>一个很好的例子是它与联合航空的关系，后者将在芝加哥奥黑尔机场开展空中出租车服务。理想情况下，联合航空将使用出租车服务将乘客从机场运送到市中心。尽管这个概念很好，但尚不清楚它是否会取得成功。</p>
</div><p>The post Archer Aviation: risk/reward analysis for this flying car stock appeared first on Invezz</p>
<div class="lb-trans"><p>文章来源：Invezz</p>
</div>

Archer Aviation：这只飞行汽车股票的风险与回报分析