Latest news with #EmmanuelRosier
Yahoo
31-03-2025
- Business
- Yahoo
Is Sea Limited (SE) The Best Gaming Stock to Invest In According to Billionaires?
We recently compiled a list of the 10 Best Gaming Stocks to Invest In According to Billionaires. In this article, we are going to take a look at where Sea Limited (NYSE:SE) stands against the other gaming stocks. The gaming industry has experienced significant changes over the past few years. During the COVID-19 pandemic, the sector saw remarkable growth as more people spent time indoors. However, this momentum did not continue after restrictions eased, which led to lower consumer spending on games and consoles. Economic uncertainties and challenges like inflation further impacted the industry, resulting in layoffs, studio closures, and project cancellations across the industry in 2024. Despite these setbacks, analysts are optimistic about a recovery supported by upcoming major releases. READ ALSO: 8 Fastest Growing AI Stocks To Buy Right Now and 20 Best Fintech Stocks to Buy According to Billionaires. According to research firm Newzoo, video game consoles are expected to be the biggest growth driver in the market until 2027. The anticipated launches of GTA VI in fall 2025 and the new Switch console in summer 2025 are seen as key factors fueling a rebound. GTA V, the predecessor to GTA VI, is one of the most profitable games ever and has sold over 210 million by December 2024. Analysts believe new releases will encourage players to spend more on consoles and games. This could potentially reverse the industry's recent slowdown. According to the report by Newzoo, console software revenue is projected to increase 7% from 2024 to 2027 and outperform PC software revenue growth of 2.6%. By 2027, console revenue is expected to account for over 56% of the total PC and console software revenue of $92.7 billion. Total playtime increased by 6% in 2024 and Q4 saw the highest quarterly playtime thanks to blockbuster releases like the new Call of Duty title. Emmanuel Rosier, director of market analysis at Newzoo, told Reuters that major console titles, such as Spider-Man and God of War, are driving engagement on consoles. He also pointed out that these AAA or AAAA releases have less impact on PC gamers, who prefer older titles. To compile our list of the 10 best gaming stocks to invest in according to billionaires, we looked for the largest gaming companies. We reviewed our own rankings, financial media reports, ETFs, and various online resources to compile a list of the best gaming stocks. Next, we focused on the top 10 gaming stocks most favored by billionaires. Data for the number of billionaire investors for each stock was taken from Insider Monkey's Q4 2024 database. Finally, the 10 best gaming stocks to invest in were ranked in ascending order based on the number of billionaires holding stakes in them as of Q4 2024. Additionally, we mentioned the hedge fund sentiment surrounding each stock, which was taken from Insider Monkey's Q4 2024 database of more than 1,000 elite hedge funds. Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A close-up view of hands holding a modern gaming device, highlighting the company's mobile games. Number of Billionaire Investors: 17 Number of Hedge Fund Holders: 86 Sea Limited (NYSE:SE) is a major technology corporation headquartered in Singapore. The company is a major player in the gaming and esports industry through Garena, its gaming division. Sea Limited (NYSE:SE) was initially founded as a game development and publishing company and it is best known for its popular Free Fire title, one of the best mobile battle royale games. The company also operates core businesses across e-commerce and digital financial services through Shopee and SeaMoney. Through its Garena segment, the company develops and publishes games and also organizes professional gaming tournaments. Sea Limited (NYSE:SE) ranks among the best gaming stocks to buy. The company is focused on scaling its user base and enhancing content offerings for its gaming division, Garena. Sea Limited (NYSE:SE) reported that 2024 was a successful year for Garena, particularly with Free Fire's remarkable comeback. The game's annual bookings increased by 34% year-over-year. Free Fire also became the world's largest mobile game by average daily active users (DAUs) and the most downloaded title, according to Sensor Tower. In 2024, Average DAUs grew 28% year-over-year and surpassed 100 million. The game delivered strong engagement and retention even in its eighth year. Sea Limited (NYSE:SE) sees Free Fire as an evergreen franchise and expects Garena to deliver double-digit growth in both its user base and bookings in 2025. Overall, SE ranks 4th on our list of the best gaming stocks to invest in according to billionaires. While we acknowledge the potential of SE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SE but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
30-03-2025
- Business
- Yahoo
Is NetEase(NTES) One of the Best Gaming Stocks to Invest In According to Billionaires?
We recently compiled a list of the 10 Best Gaming Stocks to Invest In According to Billionaires. In this article, we are going to take a look at where NetEase, Inc. (NASDAQ:NTES) stands against the other gaming stocks. The gaming industry has experienced significant changes over the past few years. During the COVID-19 pandemic, the sector saw remarkable growth as more people spent time indoors. However, this momentum did not continue after restrictions eased, which led to lower consumer spending on games and consoles. Economic uncertainties and challenges like inflation further impacted the industry, resulting in layoffs, studio closures, and project cancellations across the industry in 2024. Despite these setbacks, analysts are optimistic about a recovery supported by upcoming major releases. READ ALSO: 8 Fastest Growing AI Stocks To Buy Right Now and 20 Best Fintech Stocks to Buy According to Billionaires. According to research firm Newzoo, video game consoles are expected to be the biggest growth driver in the market until 2027. The anticipated launches of GTA VI in fall 2025 and the new Switch console in summer 2025 are seen as key factors fueling a rebound. GTA V, the predecessor to GTA VI, is one of the most profitable games ever and has sold over 210 million by December 2024. Analysts believe new releases will encourage players to spend more on consoles and games. This could potentially reverse the industry's recent slowdown. According to the report by Newzoo, console software revenue is projected to increase 7% from 2024 to 2027 and outperform PC software revenue growth of 2.6%. By 2027, console revenue is expected to account for over 56% of the total PC and console software revenue of $92.7 billion. Total playtime increased by 6% in 2024 and Q4 saw the highest quarterly playtime thanks to blockbuster releases like the new Call of Duty title. Emmanuel Rosier, director of market analysis at Newzoo, told Reuters that major console titles, such as Spider-Man and God of War, are driving engagement on consoles. He also pointed out that these AAA or AAAA releases have less impact on PC gamers, who prefer older titles. To compile our list of the 10 best gaming stocks to invest in according to billionaires, we looked for the largest gaming companies. We reviewed our own rankings, financial media reports, ETFs, and various online resources to compile a list of the best gaming stocks. Next, we focused on the top 10 gaming stocks most favored by billionaires. Data for the number of billionaire investors for each stock was taken from Insider Monkey's Q4 2024 database. Finally, the 10 best gaming stocks to invest in were ranked in ascending order based on the number of billionaires holding stakes in them as of Q4 2024. Additionally, we mentioned the hedge fund sentiment surrounding each stock, which was taken from Insider Monkey's Q4 2024 database of more than 1,000 elite hedge funds. Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). Two gamers enjoying an immersive experience playing together online via their gaming console. Number of Billionaire Investors: 11 Number of Hedge Fund Holders: 38 NetEase, Inc. (NASDAQ:NTES) is a Chinese internet technology corporation that is primarily focused on gaming, education, music, and e-commerce. The company develops and operates a diverse portfolio of popular mobile and PC games for the Chinese market and international markets. According to billionaires, NetEase, Inc. (NASDAQ:NTES) is one of the best gaming stocks to buy. On February 21, Benchmark analysts raised the firm's price target on NetEase, Inc. (NASDAQ:NTES) from $105 to $115 and maintained a 'Buy' rating. This change followed the company's Q4 2024 financial report, which showed mixed results. While the revenue fell short of expectations due to weaker mobile gaming performance, NetEase, Inc. (NASDAQ:NTES) managed to exceed profitability forecasts. The revenue miss because of the mobile games segment was partly offset by strong PC game growth, driven by the return of popular Blizzard titles like 'World of Warcraft' and 'Hearthstone,' continued success of existing games, and new releases. Benchmark analysts are optimistic about NetEase, Inc.'s (NASDAQ:NTES) future, particularly in PC gaming, with the launch of high-profile games like 'Marvel Rivals' expected to drive growth in fiscal year 2025. Although mobile games underperformed in Q4 2024, there were early signs of stabilization in deferred revenue. Benchmark analysts now forecast a 6.5% year-over-year increase for NetEase, Inc.'s (NASDAQ:NTES) games segment in FY25, up from the firm's previous 5% estimate. Overall, NTES ranks 6th on our list of the best gaming stocks to invest in according to billionaires. While we acknowledge the potential of NTES as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NTES but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
30-03-2025
- Business
- Yahoo
Unity Software Inc. (U): Among the Best Gaming Stocks to Invest In According to Billionaires
We recently compiled a list of the 10 Best Gaming Stocks to Invest In According to Billionaires. In this article, we are going to take a look at where Unity Software Inc. (NYSE:U) stands against the other best gaming stocks. The gaming industry has experienced significant changes over the past few years. During the COVID-19 pandemic, the sector saw remarkable growth as more people spent time indoors. However, this momentum did not continue after restrictions eased, which led to lower consumer spending on games and consoles. Economic uncertainties and challenges like inflation further impacted the industry, resulting in layoffs, studio closures, and project cancellations across the industry in 2024. Despite these setbacks, analysts are optimistic about a recovery supported by upcoming major releases. READ ALSO: 8 Fastest Growing AI Stocks To Buy Right Now and 20 Best Fintech Stocks to Buy According to Billionaires. According to research firm Newzoo, video game consoles are expected to be the biggest growth driver in the market until 2027. The anticipated launches of GTA VI in fall 2025 and the new Switch console in summer 2025 are seen as key factors fueling a rebound. GTA V, the predecessor to GTA VI, is one of the most profitable games ever and has sold over 210 million by December 2024. Analysts believe new releases will encourage players to spend more on consoles and games. This could potentially reverse the industry's recent slowdown. According to the report by Newzoo, console software revenue is projected to increase 7% from 2024 to 2027 and outperform PC software revenue growth of 2.6%. By 2027, console revenue is expected to account for over 56% of the total PC and console software revenue of $92.7 billion. Total playtime increased by 6% in 2024 and Q4 saw the highest quarterly playtime thanks to blockbuster releases like the new Call of Duty title. Emmanuel Rosier, director of market analysis at Newzoo, told Reuters that major console titles, such as Spider-Man and God of War, are driving engagement on consoles. He also pointed out that these AAA or AAAA releases have less impact on PC gamers, who prefer older titles. To compile our list of the 10 best gaming stocks to invest in according to billionaires, we looked for the largest gaming companies. We reviewed our own rankings, financial media reports, ETFs, and various online resources to compile a list of the best gaming stocks. Next, we focused on the top 10 gaming stocks most favored by billionaires. Data for the number of billionaire investors for each stock was taken from Insider Monkey's Q4 2024 database. Finally, the 10 best gaming stocks to invest in were ranked in ascending order based on the number of billionaires holding stakes in them as of Q4 2024. Additionally, we mentioned the hedge fund sentiment surrounding each stock, which was taken from Insider Monkey's Q4 2024 database of more than 1,000 elite hedge funds. Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A close-up of an experienced game engineer's hands typing a complex code on a laptop. Number of Billionaire Investors: 10 Number of Hedge Fund Holders: 48 Unity Software Inc. (NYSE:U) is an American video game software development company that ranks among the best gaming stocks. The company is best known for Unity, a leading game creation engine used to create video games and other applications. Unity Software Inc. (NYSE:U) offers a suite of tools that help developers create, market, and grow video games and other applications across all major platforms. In October 2024, the company launched Unity 6, the company's next-gen game development platform with new features including multiplayer workflows, improved graphics capabilities, and tools for mobile web development. The new graphics capabilities move workloads from the CPU to the GPU to improve performance. The company is focused on innovation and improving developer workflows through new technologies and updates. On March 19, Unity Software Inc. (NYSE:U) announced its plans for three major updates to Unity 6 in 2025, starting with Unity 6.1 in April. This update will enable higher frame rates, smoother gameplay, and reduced CPU/GPU load to deliver better device performance. It will also enhance debugging for easier optimization. Unity Software Inc. (NYSE:U) will expand Unity 6.1's platform support to include large and foldable Android screens, Meta Quest, Android XR profiles, and Instant Games, with WebGPU for developers on supported browsers. These features will provide developers with more capabilities to create optimized games across diverse platforms. Later updates in 2025 will help developers leverage AI-driven workflows to create games faster and more efficiently. New AI-powered tools integrated into the Unity Editor will automate repetitive tasks and streamline game creation. Developers will also benefit from the seamless integration of third-party generative AI solutions. The updates will empower developers with efficiency tools that will help improve problem diagnosis, player experience optimization, and new player acquisition. Overall, U ranks 8th on our list of the best gaming stocks to invest in according to billionaires. While we acknowledge the potential of U as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than U but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
29-03-2025
- Business
- Yahoo
Is NVIDIA (NVDA) The Best Gaming Stock to Invest In According to Billionaires?
We recently compiled a list of the 10 Best Gaming Stocks to Invest In According to Billionaires. In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against the other gaming stocks. The gaming industry has experienced significant changes over the past few years. During the COVID-19 pandemic, the sector saw remarkable growth as more people spent time indoors. However, this momentum did not continue after restrictions eased, which led to lower consumer spending on games and consoles. Economic uncertainties and challenges like inflation further impacted the industry, resulting in layoffs, studio closures, and project cancellations across the industry in 2024. Despite these setbacks, analysts are optimistic about a recovery supported by upcoming major releases. READ ALSO: 8 Fastest Growing AI Stocks To Buy Right Now and 20 Best Fintech Stocks to Buy According to Billionaires. According to research firm Newzoo, video game consoles are expected to be the biggest growth driver in the market until 2027. The anticipated launches of GTA VI in fall 2025 and the new Switch console in summer 2025 are seen as key factors fueling a rebound. GTA V, the predecessor to GTA VI, is one of the most profitable games ever and has sold over 210 million by December 2024. Analysts believe new releases will encourage players to spend more on consoles and games. This could potentially reverse the industry's recent slowdown. According to the report by Newzoo, console software revenue is projected to increase 7% from 2024 to 2027 and outperform PC software revenue growth of 2.6%. By 2027, console revenue is expected to account for over 56% of the total PC and console software revenue of $92.7 billion. Total playtime increased by 6% in 2024 and Q4 saw the highest quarterly playtime thanks to blockbuster releases like the new Call of Duty title. Emmanuel Rosier, director of market analysis at Newzoo, told Reuters that major console titles, such as Spider-Man and God of War, are driving engagement on consoles. He also pointed out that these AAA or AAAA releases have less impact on PC gamers, who prefer older titles. To compile our list of the 10 best gaming stocks to invest in according to billionaires, we looked for the largest gaming companies. We reviewed our own rankings, financial media reports, ETFs, and various online resources to compile a list of the best gaming stocks. Next, we focused on the top 10 gaming stocks most favored by billionaires. Data for the number of billionaire investors for each stock was taken from Insider Monkey's Q4 2024 database. Finally, the 10 best gaming stocks to invest in were ranked in ascending order based on the number of billionaires holding stakes in them as of Q4 2024. Additionally, we mentioned the hedge fund sentiment surrounding each stock, which was taken from Insider Monkey's Q4 2024 database of more than 1,000 elite hedge funds. Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A close-up of a colorful high-end graphics card being plugged in to a gaming computer. Number of Billionaire Investors: 29 Number of Hedge Fund Holders: 223 NVIDIA Corporation (NASDAQ:NVDA) is a leading American technology company and a major player in the gaming industry, particularly through its powerful graphics processing units (GPUs). Since inventing the GPU in 1999, the company has revolutionized computer graphics and greatly contributed to the growth of PC gaming. Its GeForce line of GPUs is well-regarded among gamers, offering high-performance graphics for immersive gaming experiences. In 2020, NVIDIA Corporation (NASDAQ:NVDA) also launched GeForce NOW, a cloud-based gaming service that allows players to stream games directly from the cloud to devices like laptops, desktops, and smartphones. This makes gaming more accessible and convenient. According to billionaires, NVDA is one of the best gaming stocks to invest in. The company is actively integrating AI into its products to enhance user experience across gaming, computing, and other industries. In January 2025, NVIDIA Corporation (NASDAQ:NVDA) released the GeForce RTX 50 Series Desktop and Laptop GPUs for gamers, creators, and developers. These new GPS are powered by Blackwell architecture, fifth-generation Tensor Cores, and fourth-generation RT to deliver breakthroughs in AI-driven rendering, including neural shaders, digital human technologies, geometry, and lighting. The GeForce RTX 5090 GPU delivers more than 3,352 trillion AI operations per second (TOPS) of computing power and is the fastest GeForce RTX GPU yet. The GeForce RTX 50 Series GPUs power autonomous game characters and NVIDIA Corporation (NASDAQ:NVDA) is launching a suite of new ACE technologies that make game characters act more human-like. With generative AI, game characters will be able to perceive, plan, and act like human players. NVIDIA Corporation (NASDAQ:NVDA) is teaming up with leading game developers to incorporate ACE autonomous game characters into titles like PUBG: BATTLEGROUNDS, inZOI, and NARAKA: BLADEPOINT MOBILE PC VERSION. Overall, NVDA ranks 2nd on our list of the best gaming stocks to invest in according to billionaires. While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
29-03-2025
- Business
- Yahoo
Microsoft (MSFT): The Best Gaming Stock to Invest In According to Billionaires
We recently compiled a list of the 10 Best Gaming Stocks to Invest In According to Billionaires. In this article, we are going to take a look at where Microsoft Corporation (NASDAQ:MSFT) stands against the other gaming stocks. The gaming industry has experienced significant changes over the past few years. During the COVID-19 pandemic, the sector saw remarkable growth as more people spent time indoors. However, this momentum did not continue after restrictions eased, which led to lower consumer spending on games and consoles. Economic uncertainties and challenges like inflation further impacted the industry, resulting in layoffs, studio closures, and project cancellations across the industry in 2024. Despite these setbacks, analysts are optimistic about a recovery supported by upcoming major releases. READ ALSO: 8 Fastest Growing AI Stocks To Buy Right Now and 20 Best Fintech Stocks to Buy According to Billionaires. According to research firm Newzoo, video game consoles are expected to be the biggest growth driver in the market until 2027. The anticipated launches of GTA VI in fall 2025 and the new Switch console in summer 2025 are seen as key factors fueling a rebound. GTA V, the predecessor to GTA VI, is one of the most profitable games ever and has sold over 210 million by December 2024. Analysts believe new releases will encourage players to spend more on consoles and games. This could potentially reverse the industry's recent slowdown. According to the report by Newzoo, console software revenue is projected to increase 7% from 2024 to 2027 and outperform PC software revenue growth of 2.6%. By 2027, console revenue is expected to account for over 56% of the total PC and console software revenue of $92.7 billion. Total playtime increased by 6% in 2024 and Q4 saw the highest quarterly playtime thanks to blockbuster releases like the new Call of Duty title. Emmanuel Rosier, director of market analysis at Newzoo, told Reuters that major console titles, such as Spider-Man and God of War, are driving engagement on consoles. He also pointed out that these AAA or AAAA releases have less impact on PC gamers, who prefer older titles. To compile our list of the 10 best gaming stocks to invest in according to billionaires, we looked for the largest gaming companies. We reviewed our own rankings, financial media reports, ETFs, and various online resources to compile a list of the best gaming stocks. Next, we focused on the top 10 gaming stocks most favored by billionaires. Data for the number of billionaire investors for each stock was taken from Insider Monkey's Q4 2024 database. Finally, the 10 best gaming stocks to invest in were ranked in ascending order based on the number of billionaires holding stakes in them as of Q4 2024. Additionally, we mentioned the hedge fund sentiment surrounding each stock, which was taken from Insider Monkey's Q4 2024 database of more than 1,000 elite hedge funds. Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A close up of a person's hands using a home console gaming device. Number of Billionaire Investors: 39 Number of Hedge Fund Holders: 317 Microsoft Corporation (NASDAQ:MSFT) is a leading technology company and a major player in the gaming industry. The company is known for its Xbox consoles and gaming services. In October 2023, Microsoft Corporation (NASDAQ:MSFT) completed its $69 billion acquisition of Activision Blizzard to grow its gaming business and bring popular franchises like Call of Duty, Warcraft, and Diablo under its umbrella. This transaction positioned Microsoft Corporation (NASDAQ:MSFT) as one of the largest gaming companies globally and opened new revenue streams across mobile, PC, console, and cloud gaming platforms. MSFT is one of the best gaming stocks to buy. In October 2024, the company launched Black Ops 6, which became the best-selling game on Xbox and PlayStation for the quarter ending December 31, 2024. This release was described by CEO Satya Nadella as the 'biggest Call of Duty release ever.' Additionally, Microsoft Corporation (NASDAQ:MSFT) released Indiana Jones and the Great Circle in December 2024, which has already attracted more than 4 million players. The company is focused on growing its gaming business through content and cloud gaming. For the second quarter of fiscal 2025, ending December 31, 2024, Xbox Cloud Gaming reached a record of 140 million hours streamed. Microsoft Corporation (NASDAQ:MSFT) reported that the Game Pass subscription service also achieved a new quarterly record for revenue and expanded its PC subscriber base by over 30%. The company plans to drive the number of paid subscribers across all platforms. Overall, MSFT ranks 1st on our list of the best gaming stocks to invest in according to billionaires. While we acknowledge the potential of MSFT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MSFT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
