G\u00fcmr\u00fck vergileri olmasa bile dolar\u0131n g\u00fc\u00e7lenmesi bu \u015firketlere zarar verebilir<\/strong><\/p>\nRose Advisors portf\u00f6y y\u00f6neticisi Patrick Fruzzetti, \u201cG\u00fcmr\u00fck vergileri olmasa bile dolar\u0131n g\u00fc\u00e7lenmesi bu \u015firketlere zarar verebilir ve baz\u0131 i\u015f kollar\u0131n\u0131 olumsuz etkileyebilir,\u201d diyor.<\/p>\n
2014 ortalar\u0131nda dolar\u0131n %25\u2019ten fazla de\u011fer kazand\u0131\u011f\u0131 d\u00f6nemde ve 2021-2022 aras\u0131nda ayn\u0131 \u00f6l\u00e7\u00fcde y\u00fckseldi\u011finde, S&P 500 \u015firketleri k\u00e2r durgunlu\u011fu (earnings recession) ya\u015fam\u0131\u015ft\u0131. 2018 ba\u015flar\u0131nda Trump y\u00f6netiminin uygulamaya koydu\u011fu g\u00fcmr\u00fck vergileri ve dolar\u0131n %10\u2019a varan art\u0131\u015f\u0131 da k\u00e2rlar\u0131 geriletmi\u015f, bu s\u00fcre\u00e7te S&P 500 yakla\u015f\u0131k %20\u2019ye yak\u0131n de\u011fer kaybetmi\u015fti.<\/p>\n
U.S. Bancorp\u2019un d\u00f6viz sat\u0131\u015f b\u00f6l\u00fcm\u00fcn\u00fcn ba\u015fkan\u0131 Paula Comings, \u201cGenel beklenti, dolar\u0131n g\u00fc\u00e7l\u00fc kalmaya devam edece\u011fi ve bu durumun 2025\u2019e kadar s\u00fcrebilece\u011fi y\u00f6n\u00fcnde,\u201d diyor.<\/p>\n
Hisse senedi yat\u0131r\u0131mc\u0131lar\u0131, her ne kadar g\u00fc\u00e7l\u00fc dolar\u0131n k\u00e2rlara olumsuz etkisini kimi zaman g\u00f6z ard\u0131 etme e\u011filiminde olsa da, \u015firket de\u011ferlemelerinin tarih\u00ee zirvelere yak\u0131n oldu\u011fu bu ortamda durumu yak\u0131ndan takip ediyor. Bloomberg\u2019in \u201cMuhte\u015fem Yedili\u201d\u00a0 diye adland\u0131rd\u0131\u011f\u0131 teknoloji devlerini izleyen endeks, \u00f6n\u00fcm\u00fczdeki 12 ay i\u00e7in tahmin edilen k\u00e2rlar\u0131n 30 kat\u0131 fiyat-kazan\u00e7 oran\u0131yla i\u015flem g\u00f6r\u00fcyor. Bu oran 2022 sonunda 20 seviyesindeydi. Kar\u015f\u0131la\u015ft\u0131rma i\u00e7in, ayn\u0131 d\u00f6nemde S&P 500 ortalamas\u0131 22 kat civar\u0131nda.<\/p>\n
ABD\u2019nin, \u00c7in\u2019den gelen t\u00fcm \u00fcr\u00fcnlere %10 g\u00fcmr\u00fck vergisi uygulamas\u0131 da bu \u015firketleri zora sokabilir. Strategas yat\u0131r\u0131m stratejisi direkt\u00f6r\u00fc Ryan Grabinski\u2019ye g\u00f6re, gelirlerinin %20\u2019den fazlas\u0131n\u0131 \u00c7in\u2019den elde eden Tesla Inc. en \u00e7ok etkilenecek \u015firketlerin ba\u015f\u0131nda geliyor; onu yakla\u015f\u0131k %16 ile Nvidia Corp. ve Apple takip ediyor. Meta Platforms Inc.\u2019in Kanada\u2019dan elde etti\u011fi gelir oran\u0131 sadece %2,1. Muhte\u015fem Yedili\u2019nin geri kalan\u0131n\u0131n Meksika ile kayda de\u011fer bir gelir ba\u011f\u0131 yok.<\/p>\n
Grabinski, \u201c\u00c7in\u2019e y\u00f6nelik g\u00fcmr\u00fck vergileri ve \u00c7in\u2019in buna misillemesi, gelirler a\u00e7\u0131s\u0131ndan piyasay\u0131 en \u00e7ok endi\u015felendiren konu,\u201d diyor.<\/p>\n
Bloomberg Intelligence\u2019tan ba\u015f hisse senedi stratejisti Gina Martin Adams, g\u00fcmr\u00fck vergilerinin \u00f6nemli bir risk oldu\u011funa dikkat \u00e7ekiyor. \u00c7\u00fcnk\u00fc \u00e7ok uluslu \u015firketler, Trump\u2019\u0131n ilk g\u00fcmr\u00fck vergisi uygulad\u0131\u011f\u0131 d\u00f6neme k\u0131yasla art\u0131k ABD pazar\u0131na daha da ba\u011f\u0131ml\u0131 hale geldi.<\/p>\n
Martin Adams, \u201c\u00c7ok uluslu \u015firketler ya ABD\u2019ye geri ta\u015f\u0131nmay\u0131 se\u00e7ecek ya da ba\u015fka ticaret ortaklar\u0131 ve gelir kaynaklar\u0131 arayacak. Burada b\u00fcy\u00fck bir ikilem ya\u015fan\u0131yor,\u201d diyor.<\/p>\n
Ayr\u0131ca Martin Adams, pandemi sonras\u0131 d\u00f6nemde dolar, hisseler ve \u015firket kazan\u00e7lar\u0131n\u0131n al\u0131\u015f\u0131lmad\u0131k bi\u00e7imde ayn\u0131 y\u00f6nde hareket etti\u011fini s\u00f6yl\u00fcyor. Dolar y\u00fckselmeye devam ederse, i\u015fler \u00f6nceki \u2018normal\u2019e d\u00f6nebilir ve bu durum Nvidia, Alphabet (Google), Amazon, Tesla ve Broadcom gibi k\u00e2r art\u0131\u015f\u0131n\u0131 b\u00fcy\u00fck \u00f6l\u00e7\u00fcde s\u0131rtlayan \u015firketleri zorlayabilir. Zira bu \u015firketler, dolar hareketlerine kar\u015f\u0131 genel piyasadan daha hassas.<\/p>\n
Buna kar\u015f\u0131n Washington\u2019da g\u00fcndeme gelen yeni vergi indirimlerinin, S&P 500 \u015firketlerinin vergi y\u00fck\u00fcn\u00fc 2017\u2019deki vergi paketine k\u0131yasla ancak yar\u0131 yar\u0131ya azaltaca\u011f\u0131 \u00f6ng\u00f6r\u00fcl\u00fcyor. Bloomberg Intelligence\u2019a g\u00f6re bu durum, \u00f6n\u00fcm\u00fczdeki 12 ay i\u00e7in tahmin edilen ve \u201c%20\u2019nin \u00fczerinde\u201d beklenen hisse ba\u015f\u0131na k\u00e2r (EPS) art\u0131\u015f\u0131na ula\u015fmay\u0131 daha da zorla\u015ft\u0131rabilir.<\/p>\n<\/div>\n
\n
<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"ABD dolar\u0131n\u0131n y\u00fckseli\u015fi, Amazon.com\u2019dan Apple\u2019a kadar \u00e7ok uluslu Amerikan \u015firketlerinin k\u00e2r beklentilerini zora sokuyor. ABD dolar\u0131n\u0131n y\u00fckseli\u015fi, Amazon.com\u2019dan Apple\u2019a kadar \u00e7ok uluslu Amerikan \u015firketlerinin k\u00e2r beklentilerini zora sokuyor. Yat\u0131r\u0131mc\u0131lar, iki y\u0131ld\u0131r devam eden ve b\u00fcy\u00fck \u00f6l\u00e7\u00fcde teknoloji \u015firketlerinin g\u00fc\u00e7l\u00fc k\u00e2r art\u0131\u015flar\u0131yla desteklenen hisse senedi rallisinin, bu g\u00fc\u00e7l\u00fc dolar\u0131n bask\u0131s\u0131na ne kadar dayanaca\u011f\u0131n\u0131 sorguluyor. Dolar, Kas\u0131m […]<\/p>\n","protected":false},"author":908,"featured_media":16992,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12],"tags":[],"class_list":["post-16991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-teknoloji"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/kibrisayna.com\/wp-content\/uploads\/2025\/02\/9by7ggnt6E6U2gSV_NPO2g.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/kibrisayna.com\/index.php\/wp-json\/wp\/v2\/posts\/16991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kibrisayna.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kibrisayna.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kibrisayna.com\/index.php\/wp-json\/wp\/v2\/users\/908"}],"replies":[{"embeddable":true,"href":"https:\/\/kibrisayna.com\/index.php\/wp-json\/wp\/v2\/comments?post=16991"}],"version-history":[{"count":0,"href":"https:\/\/kibrisayna.com\/index.php\/wp-json\/wp\/v2\/posts\/16991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kibrisayna.com\/index.php\/wp-json\/wp\/v2\/media\/16992"}],"wp:attachment":[{"href":"https:\/\/kibrisayna.com\/index.php\/wp-json\/wp\/v2\/media?parent=16991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kibrisayna.com\/index.php\/wp-json\/wp\/v2\/categories?post=16991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kibrisayna.com\/index.php\/wp-json\/wp\/v2\/tags?post=16991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}