Ladies and gentlemen:
Good morning. Today my presentation is focused on new-economy stocks.
So-called new-economy stocks are heavily involved in the technology sector and the more successful companies are able to build value at markedly higher growth rates. Good examples of new-economy stocks would be companies whose primary operations are involved in e-commerce or technology-based activities, such as Google, eBay and Intel. These companies generally operate in significantly different business environments than old-economy stocks and their stocks are generally more volatile. New-economy stocks tend not to pay dividends, opting to reinvest their cash into business expansion.
Valuations of new-economy stocks tend to see stronger volatility, since their business models are not as stable as old-economy stocks and are generally found in relatively new industries. When analyzing a new-economy company more focus is placed on growth expectations and earnings estimates several years down the road, which are much less easier to predict when a company does not have a lengthy track record. Also, new-economy stocks, even those which already turn consistent profits each quarter, tend not to pay out dividends to their shareholders, opting instead to reinvest earnings into business operations as they are much more likely to capitalize on high-growth opportunities than old-economy companies in mature industries.
參考答案:女士们和先生们:
早晨好。今天我将集中介绍新经济股票。所谓新经济股票就是深深被介入在技术区段并且比较成功的公司中，能够建立价值以明显比较高的增长率的股票。新经济股票好例子是主要操作在e商务或技术基于活动, 譬如Google, eBay 和英特尔公司。这些公司比老经济股票和他们的股票一般比较挥发性一般经营在显着不同的商业环境里。新经济股票倾向于不支付股息, 选择再投资他们的现金入经济高涨。新经济股票的价值倾向于比较坚强的挥发性, 因为他们的企业模型不是一样稳定象老经济股票和一般被发现在相对地新产业。当分析新经济公司更多焦点被安置在成长期望并且收入估计几岁月在路下, 较不比较容易预言什么 时候公司没有一个长历年成绩记录。并且, 新经济股票, 平衡这些已经转动一致赢利各个处所, 倾向于不支付在股息之外对他们的股东,选择反而再投资收入入经营活动因为他们比老经济公司是可能利用高成长机会在成熟产业。
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