双语阅读英语外刊精讲：金山(附音频)

2018-10-22 10:45:54来源：酷学英语

　　Together they make $100bn of profits. 这五家公司的利润总计高达1000亿美元，

　　Analysts forecast this will rise to $170bn by 2020. 分析师预计到2020年将上升至1700亿美元。

　　The rebels of Silicon Valley have evolved into slick moneymaking machines with high market shares. For investors it just doesn't get any better. 硅谷的反叛分子已经进化成了具有高市场份额的高明赚钱机器。对投资者而言，这再好不过了。

　　slick：done smoothly and quickly 熟练的，灵巧的

　　Old-economy oligopolists, such as cable, telecoms and beer companies, are confident about their ability to extract reliable rents from customers, so they finance themselves largely with debt, which is cheap but inflexible, and return most of the cash they make to shareholders.

　　cable：[U] a system of broadcasting television by using cables, paid for by the person watching it 有线电视

　　telecommunications：the sending and receiving of messages by telephone, radio, television etc 电信，电讯〔指使用电话、无线电、电视等发送和接收信息〕

　　Yet, oddly, the biggest tech firms have the opposite approach. Together they have $330bn of net cash (cash less debt), a ratio of twice their gross cashflow.

　　approach：[C] a method of doing something or dealing with a problem方法，方式

　　net：the net amount is the final amount that remains after all the other amounts have been taken away〔钱〕净得的 net profit / loss / weight / result

　　Maybe if the tax code is reformed the great cash build up will end.

　　The most mature firms, Apple and Microsoft, would make a large one-off return of cash to shareholders.

　　Amazon, Alphabet and Facebook would adopt sensible frameworks for returning cash to shareholders as their profits soar.

　　framework： a set of ideas, rules, or beliefs from which something is developed, or on which decisions are based 体系，体制；框架；准则

　　But perhaps these firms love their giant insurance policy. 但也许这些公司就是喜欢有大量现金护身。

　　Imperious on the outside, inside they may worry about obsolescence and regulation. 它们外表看起来不可一世，内里可能还是会担心遭到淘汰或遭遇监管问题。

　　imperious：giving orders and expecting to be obeyed, in a way that seems too proud专横的；飞扬跋扈的；傲慢的

　　obsolescence：when something becomes old-fashioned and no longer useful, because something newer and better has been invented过时；淘汰，废弃

　　Anti-trust authorities are getting hostile. 反垄断机构态度也越来越不友善。

　　trust：COMPANIES 公司[C] a group of companies that illegally work together to reduce competition and control prices托拉斯〔企业为减少竞争、操纵价格而非法形成的组织〕

　　Only five years ago Facebook and Google were struggling with the shift from desktops to devices.仅在五年前，脸书和谷歌还在为从台式机向移动设备转移而苦苦挣扎。

　　Both depend on advertising for over 85% of sales. Apple's health depends on its latest iPhone, Amazon has thin margins and Microsoft's profits have yet to rise.

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