雅思阅读：读廉价版iPhone会提振苹果股价吗?

 
　　小编为大家带来雅思阅读：读廉价版iPhone会提振苹果股价吗?考生可以借鉴参考一下，以下是具体内容：
　　Apple Inc. is widely expected to unveil its next-generation iPhones at an event Tuesday, including a cheaper version that one analyst says could give a boost to the struggling stock price.
　　WSJ has reported Apple is expected to unveil a cheaper model that could come in a variety of colors as well as a new high-end phone. Both those phones are expected to begin shipping from manufacturers in early September.
　　The low-priced version could be especially crucial to the company's top and bottom lines. Toni Sacconaghi, senior analyst at Sanford C. Bernstein, forecasts the low-end smartphone market will grow to about 900 million units by 2015. His back-of-the-envelop math suggests if Apple could capture 10% of that market share (compared to the 45% share it commands of the high-end market), the company could generate another $30 billion in incremental revenue. And a cheaper iPhone could lead to 'mid-to high-single digit percent' earnings growth in fiscal 2015, he added.
　　'Our positive investment opinion on Apple is predicated on our belief that innovation continues to persist at the company,' Mr. Sacconaghi said in a note to clients on Monday, 'and that new products can ultimately drive upward revisions and an improved multiple.
　　'Chief among these new product opportunities is a lower-priced iPhone.'
　　He expects the cheaper iPhone to be priced around $400, roughly in-line with many of the media reports over the past several risks. 'The higher [average selling price] will lower demand, but also blunts some of the negative gross profit [margin] impact.'
　　So how does all of that impact Apple's stock price, which despite the recent leg up is still underperforming the broad market for the year. Here's Mr. Sacconaghi's take:
　　'Apple's stock has historically moved in tandem with earnings revisions. We believe Q4 and FY14 earnings estimates are now at reasonable levels, and note that we (and likely consensus) estimates do not appear to include a lower priced iPhone. Give a favorable estimate outlook backdrop and an attractive valuation...we believe the risk/reward for owning Apple is currently favorable, and rate the stock outperform with a $600 price target.'
　　Apple shares recently rose 1.6% to $506.32 and are up 28% since the end of June. Even amid the recent rally, the stock remains down 4.9% for the year, compared to a 16% year-to-date rally for the S&P 500.
　　外界普遍预期苹果(Apple Inc.)将在周二的发布会上推出下一代iPhone，其中包括一款较便宜的机型。一位分析师说，廉价版iPhone可能会给正在挣扎的苹果股价带来提振。
　　《华尔街日报》此前报道，预计苹果将发布一款较便宜的iPhone，并且有多种颜色可以选择，同时还将发布一款新高端手机。预计这两款手机的制造商将从9月份开始发货。
　　廉价版iPhone对苹果的收入和利润的表现可能尤其重要。Sanford C. Bernstein的高级分析师萨科纳吉(Toni Sacconaghi)预计，低端智能手机市场发货量到2015年将增至9亿部。他的这一粗略预期预示，如果苹果能够获得10%的市场份额(苹果在高端智能手机市场的市场份额为45%)，该公司有望获得额外300亿美元的增量收入。他还说，廉价版iPhone可能推动苹果2015财年利润增长4%-9%。
　　萨科纳吉周一在写给客户的一份报告中说，我们之所以对苹果持乐观投资看法，是因为我们相信这家公司将继续创新，而且新产品最终可能推动预期上调并使市盈率情况改善。
　　他说，在这些新产品机遇中最重要的就是廉价版iPhone。
　　他预计，廉价版iPhone定价将在400美元左右，这与过去几周许多媒体的预期基本一致。他说，较高的(平均售价)将使需求下降，但也会降低部分负面的毛利率影响。
　　那么苹果股价会受到怎样的影响?尽管近期走高，但苹果股价今年以来的表现仍不及大盘。以下是萨科纳吉的分析：
　　苹果股价过去一直与利润预期调整联动。我们认为该公司第四财季和2014财年利润预期目前位于合理水平，我们的预期(可能普遍预期也是如此)似乎没有包含廉价版iPhone的影响。考虑到业绩预期乐观而且估值具有吸引力，我们认为目前苹果股票的风险回报良好，并将该股评级定为强于大盘，目标价600美元。
　　苹果股价近期上涨1.6%，至每股506.32美元，自6月份以来已累计上涨28%。尽管最近上涨，该股今年以来仍累计下跌4.9%，而标准普尔500指数年初迄今累计上涨16%。