苹果和谷歌运势大逆转

    换句话说，这两家公司都正在发生着一些实实在在的根本性变化，但这些变化的影响正在各自的股票表现中被显著放大。正如两年前谷歌失宠那样，苹果今天可能也是如此。正如那时那些盲目乐观的投资者极力推崇苹果那样，如果谷歌股价过快上涨到1,000美元的话，它现在就面临着股票估值偏高的风险。

    并不是说谷歌在劫难逃，也不是说苹果股价马上就会反弹。这两家公司都将在不同的时候经历无所作为的低谷时期以及盈利报告大幅超预期的高潮时期。这两家公司都将注重于长期发展策略，继续开发为投资者提供增长前景的项目。

    但现在，考虑到谷歌目前股价已达到其今年每股预期收益的18倍，是苹果的两倍。这个数字不应该有任何人会感到意外，但它同时也表明，这两家公司最近成为财经头版新闻的运势逆转已反映在这两家科技巨头的股价上。现在难以确定的是，一年左右的时间之后，这两只股票各自又会处于什么价位。（财富中文网）

    译者：iDo98

    In other words, there are real, fundamental changes going on at both of these companies, but the effects of those changes are greatly enhanced in the stock performance. Just as Google was underappreciated two years ago, so Apple could be today. Just as Apple was revered with blind bullishness then, so Google is at risk of being overvalued if it does reach $1,000 too quickly.

    That doesn't mean Google is doomed or that Apple is set to rebound quickly. Both of these companies are going to have, at different times, their fallow periods as well as their blowout earnings reports. Both are going to keep working on projects that will offer growth for investors with a long-term focus.

    But for now, consider that Google is trading at 18 times its expected earnings this year, double the ratio for Apple. That shouldn't surprise anyone, but it also suggests that the recent reversal of fortunes making financial headlines today are priced into both of these tech giants. What is much less certain is where they will both be in a year or so from now.