首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
As Apple prepares to report what (analysts project) may be the company’s first year-over-year quarterly earnings decline in a de
As Apple prepares to report what (analysts project) may be the company’s first year-over-year quarterly earnings decline in a de
admin
2019-08-27
48
问题
As Apple prepares to report what (analysts project) may be the company’s first year-over-year quarterly earnings decline in a decade on Tuesday, it is also grappling with jittery investors and a recent share-price plunge that has wiped about $280 billion off its market capitalization since its stock reached a high of $702.10 last September.
【T1】
Much of the investor nervousness is rooted in how Wall Street is treating and valuing the Cupertino, Calif., company as a traditional hardware maker.
One camp of analysts and some investors said there is strong evidence that Apple should be viewed in a different light: as a software-hardware hybrid.
The distinction matters. If it continues to be seen as a hardware business, Apple’s streak — driven by products like the iPhone and iPad — could run out quickly as smart phones and tablets get commoditized and consumer tastes change. 【T2】
It is a lesson learned by companies like BlackBerry-maker Research In Motion Ltd., whose tech hardware was quickly eclipsed by products from Apple itself.
If Apple is classified as a software-hardware hybrid, the company could be valued more like Internet and software makers that have recurring revenue streams and that often trade at higher price-to-earnings ratios than hardware firms.
"The market views Apple as a consumer hardware company tied to product cycles that drive volatile revenue and earnings streams, " says Morgan Stanley analyst Katy Huberty. 【T3】
But that view isn’t complete, she says, since "Apple customers buy into a brand that offers ease of use similar to companies like Amazon.com or enterprise companies like NetApp."
An Apple spokesman declined to comment ahead of Tuesday’s earning report. With Wall Street categorizing Apple as a hardware maker, investors value the company — which made an astounding $13 billion in profits in the quarter ended in December — at 8.6 times expected earnings per share for the next 12 months. Investors are currently valuing Hewlett-Packard Co., which made $1.2 billion in profits during its most recent quarter, at a price-to-earnings ratio of 5.6. Troubled PC maker Dell Inc., whose stock price inflated after signing a buyout deal earlier this year, trades at a P/ E ratio of 8.5.
Apple’s gross margins are around 40%, an important-measure of the company’s efficiency at making money. That is roughly twice as high as H-P’s and Dell’s.
Apple has characteristics that differ from many other hardware businesses. 【T4】
Its customers often upgrade their Apple products annually, far more frequently than the four-year PC upgrade cycles typically found at tech hardware businesses including Hewlett-Packard or Dell.
While H-P and Dell have tried beefing up the enterprise software side of their business, Apple’s operating system and iTunes software is already ubiquitous. 【T5】
Apple also has more than 500 million accounts for its App Store tied to credit cards — and a customer base to sell new services to — giving it a recurring software and services revenue stream.
Apple took in revenue of $3.7 billion from iTunes and other software and services in its last quarter, or 7% of its total revenue.
【T4】
选项
答案
该公司的客户通常会每年升级他们的苹果产品,远远超过了包括惠普或戴尔在内的技术硬件企业普遍的四年PC升级周期频率。
解析
转载请注明原文地址:https://kaotiyun.com/show/AOUO777K
0
考博英语
相关试题推荐
Graphenemustsurelybeoneofthemostexcitingdevelopmentsinmodernscience.Indeed,thesubstanceissoextraordinarythat
Justfourbitsofinformationcollectedfromashopper’screditcardcanbeusedtoidentifyalmostanyone,researchershavefou
Mostpeopleseeksomedegreeofinnerpeaceatwork,anditcanbedifficulttoobtain.Workisstressful,andmostofustendt
Sleepisanimportantpartofourlives.Wespendaboutone-thirdofourlivessleeping.Formillionsofpeople,【C1】______,gett
Althoughshewasstillill,she______herselffromthehospital.
Intheprivacyofourminds,wealltalktoourselves—aninnermonologuethatseemratherpointless.Asonescientificpaperon
通过过去30年的经济改革,中国进入了一个社会和经济发展的新阶段,随着中国更加蓬勃地发展,许多问题和挑战也出现了。
消除贫困是当代世界的重大课题。发达国家应该从提供资金、减免债务、转让技术、平等贸易等方面,支持和帮助发展中国家振兴经济、提高人民的生活水平,这也符合发达国家的长远利益,各国经济共同增长和普遍繁荣是人类努力的方向。
Americansarehighly______,andthereforemayfinditdifficulttobecomedeeplyinvolvedwithothers.(2003年上海交通大学考博试题)
We______ourvoicedependingonthecircumstances,particularlyinrelationshiptobackgroundnoise.
随机试题
下列有关股份有限公司的股份转让的表述哪些是正确的:()
甲公司与乙公司订立一书面合同,甲公司签字盖章后邮寄给乙公司签字盖章,该合同的成立时间为()
某医生因技术过失致患者组织器官损伤造成功能障碍。在调查中发现其涂改、伪造病案和有关资料,给调查带来极大的困难,情节较为严重。其所在单位采取的措施的是()
患者男,63岁,慢性胃炎,幽门螺杆菌(+),需要采用抗菌药物治疗,其用药原则是()
关于适用简易程序审理刑事案件变更为适用普通程序,下列哪些说法是正确的?(2011年卷二71题,多选)
关于采光可节省的年照明用电量的计算式中,与下列参数无关的是()。
按基金的投资标的划分,证券投资基金可分为()。Ⅰ.债券基金Ⅱ.股票基金Ⅲ.货币市场基金Ⅳ.契约型基金
税收司法行为应当遵循的基本原则有()。
甲公司2009年3月5日向乙公司购买了一处位于郊区的厂房,随后出租给丙公司。甲公司以自有资金向乙公司支付总价款的30%,同时甲公司以该厂房作为抵押向丁银行借入余下的70%价款。这种租赁方式是()。
MenorcaorMajorca?Itisthattimeoftheyearagain.Thebrochuresarepilingupintravelagentswhilenewspapersandmagazin
最新回复
(
0
)