I would point to two sets of numbers. First, once inflation is taken into account, Apple is smaller than Microsoft Corp., General Electric Co. and two other tech giants at their peaks. Optimists argue that is because Apple has room to expand, while the pessimists counter that it underlines fears of a slowdown in growth once the products developed in Mr. Jobs's 'skunk works' run out.

让我来说的话，请看两组数字。首先，如果把通货膨胀因素算进去，苹果的市值低于微软(Microsoft Corp.)、通用电气(General Electric Co.)和另外两家科技巨头的鼎盛时期。乐观派认为这是因为苹果还有扩张的空间，悲观派认为这反映了投资者暗中的一种担忧：一旦乔布斯“臭鼬工场开发出来的产品用完，苹果的增长可能就会减速。

The other data point is the price/earnings ratio: Apple is trading at less than 13 times next year's estimated earnings, while Facebook is at around 30 times.

另一组数据是市盈率。根据未来一年预期利润计算，苹果的市盈率不到13倍，Facebook市盈率在30倍左右。

Despite its reputation for 'irrational exuberance' and short-termism, the market appears remarkably cool and long-sighted in judging the prospects of two era-defining technology giants.

尽管市场以其“非理性繁荣和短视近利闻名，但在判断两家划时代科技巨头的前途时，却显得出奇的冷静和长远。

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