2015考研英语阅读苹果股价合理吗_大学英语阅读

2015考研英语阅读苹果股价合理吗

　　Even if bubble talk is over the top, a higher share price is justified only if Apple continues tomeet earnings expectations. That usually gets harder. The stocks of market-leadingcompanies historically underperform once they have reached the top slot, since they are lessnimble and more vulnerable to attacks by regulators and the press. It is harder to continueimpressive earnings growth on a large base. Even a modest earnings miss could have abig effect on the share price, since more of Apple s shareholders today are fickle traders.

　　即使泡沫论夸大其词，但是苹果只有不断达到预期收益才能保证其持续上涨的股价是合理的。然而，这变得越来越难。从过去来看，一旦市场领先的企业一旦位居榜首，其股价就会表现不佳。其原因是他们对监管者和媒体的攻击反应迟钝，更加容易受到影响。总体上来看，持续保持良好的收益增长相当难。由于苹果的许多股东都相当浮躁，即使在合理范围内的收益损失都会对其股价产生较大的影响。

　　If there was a fall, it would ripple. Technology investors, which have a higher concentrationof Apple in their portfolios, are the most vulnerable. Apple makes up more than 18% ofPowerShares QQQ, an exchange-traded fund with heavy exposure to technology stocks, forexample. More unsettling are funds that have strayed into buying Apple against theirmandate, including some mutual funds that are supposed to focus on smaller companies. IfApple has a wobble, you could see it dictate broader market movements, says Alec Levineof Newedge, a broker.