谷歌Vs.蘋果:股民該買誰?
????關于谷歌(Google)和蘋果(Apple)之間的論戰從未如此激烈過。自從兩家公司2007年占據了統治地位之后,我們已經看到不計其數的投資者、記者和分析師分立兩派,對這兩家科技巨頭進行了幾乎全方位的比較。 ????不過說到投資,難道還有爭論的必要嗎?答案很簡單:讓數字來說話。財務狀況、公司基礎、估值……蘋果在這些方面占盡上風。任何頭腦冷靜的投資者在選擇目標時都會更傾向于蘋果,而不是谷歌。尤其是谷歌的股價曾經飆升至770美元,結果隨之發布的財報卻遠低預期,讓人大跌眼鏡。 ????不論是公司業績,還是股市表現,蘋果都要優于谷歌,而且這種優勢還將繼續保持下去。究其緣由是因為蘋果的市場規模大于谷歌。智能手機市場的規模遠大于網絡廣告市場,而蘋果已經逐漸成為智能手機領域毫無爭議的領頭羊。相較之下,谷歌的主要收入依然來自于網絡廣告,那僅僅是個不足十億美元的市場;而蘋果運作的市場,其價值高達萬億美元。因此,谷歌的上升潛力最多也不過是蘋果的一個零頭。 ????想要知道蘋果的核心運作市場究竟有多大,不妨看看這組數據:蘋果2007年推出iPhone之前,谷歌的凈收益是42億美元,高于蘋果的35億美元。不過隨著iPhone的火爆問世,蘋果不僅在收入和凈收益上超越谷歌,實際上,在整個股市中,已經沒有任何一個公司的納斯達克100指數能與它媲美了。 |
????The Google versus Apple debate has never been more vibrant. Ever since both companies rose to dominance in 2007, we've seen countless investors, journalists and analysts take opposing sides on virtually every aspect of this war between the tech titans. ????But is there really a debate when it comes to investing? The short answer: Not based on the numbers there isn't. The financials, fundamentals, and valuation continue to fall squarely in Apple's corner. Any level-headed investor would buy Apple over Google today, especially in light of Google's recent unjustified parabolic rally to $770 a share just before it reported an epic miss on earnings. ????The reason Apple has outperformed and will continue to outperform Google both on the earnings frontand in terms of the stock performance comes down to the simple fact that Apple operates in a substantially larger market than Google. The smartphone industry is a much larger beast than the online ad market, and Apple is becoming an increasingly dominant player within that space. Google, which continues to derive a large majority of its revenues from online ads, operates in a low billion-dollar market while Apple operates in a trillion-dollar market. Google's maximum upside potential is only a mere fraction of Apple's maximum upside potential. ????Just to get a sense of how much larger Apple's core operating market is consider that before the inaugural launch of the iPhone in 2007, Google reported $4.2 billion in net income, more than the $3.5 billion Apple (AAPL) reported that year. However, as the iPhone exploded in popularity, Apple not only surpassed Google (GOOG) in both revenue and net income, it actually surpassed every single company on the entire NASDAQ-100. |