蘋(píng)果公司周二公布第二季度業(yè)績(jī)后,，許多投資者和分析師都在問(wèn)，如果蘋(píng)果為提振不斷下滑的銷(xiāo)售額開(kāi)始收購(gòu),，會(huì)買(mǎi)下哪家公司呢,？

在周二的業(yè)績(jī)發(fā)布會(huì)上，就連首席執(zhí)行官蒂姆?庫(kù)克都表示,，蘋(píng)果在收購(gòu)方面“非常積極”,，對(duì)更大規(guī)模的收購(gòu)持開(kāi)放態(tài)度。到目前為止,，蘋(píng)果最大筆收購(gòu)是斥資30億美元買(mǎi)下從事耳機(jī)制造和提供音樂(lè)流服務(wù)的Beats,。

投資銀行派杰公司董事總經(jīng)理吉恩?蒙斯特指出，蘋(píng)果可能會(huì)在三個(gè)關(guān)鍵領(lǐng)域收購(gòu),，分別是汽車(chē),、虛擬現(xiàn)實(shí)以及混合現(xiàn)實(shí)。派杰公司維持蘋(píng)果的“超配”,，也就是“買(mǎi)入”評(píng)級(jí),，并將其目標(biāo)股價(jià)定為104.35美元。

蒙斯特首先分析稱(chēng),，蘋(píng)果收購(gòu)特斯拉或者雙方合并的可能性非常小,。今年2月，彭博曾報(bào)道稱(chēng),，蘋(píng)果負(fù)責(zé)并購(gòu)事務(wù)的主管和特斯拉CEO埃隆?穆斯克見(jiàn)了面,，但未披露任何細(xì)節(jié),。

蒙斯特寫(xiě)道：“如果收購(gòu)特斯拉之類(lèi)已有成熟品牌的公司，就沒(méi)法在汽車(chē)領(lǐng)域拓展蘋(píng)果的品牌,?！彼€說(shuō)，蘋(píng)果更想設(shè)計(jì)汽車(chē),，對(duì)制造興趣不大,，“我們認(rèn)為，正在研發(fā)無(wú)人駕駛汽車(chē)的公司可能更適合蘋(píng)果,?！?/p>

據(jù)蒙斯特介紹，蘋(píng)果也可能在虛擬現(xiàn)實(shí)領(lǐng)域收購(gòu),，而且有可能出手兼并技術(shù)團(tuán)隊(duì)和相關(guān)產(chǎn)品,，“包括頭戴式混合現(xiàn)實(shí)顯示、光場(chǎng)技術(shù),，或者能把手勢(shì)等人類(lèi)輸入方式整合到計(jì)算機(jī)之中的技術(shù)等,。”

混合現(xiàn)實(shí)領(lǐng)域也有可能成為蘋(píng)果實(shí)現(xiàn)增長(zhǎng)的關(guān)鍵,，因?yàn)檫@種平臺(tái)“就是我們能想象到的未來(lái)屏幕”,，目前微軟的Hololens全息眼鏡等已經(jīng)進(jìn)入該領(lǐng)域試水。蒙斯特此前也曾預(yù)測(cè),，大約15年或者更久之后蘋(píng)果會(huì)推出一款頭戴式混合現(xiàn)實(shí)產(chǎn)品取代iPhone,。

但他認(rèn)為，有一個(gè)領(lǐng)域蘋(píng)果不太可能追隨另一巨頭亞馬遜的腳步,，就是流媒體,。

為了向消費(fèi)者提供品類(lèi)齊全的內(nèi)容，蘋(píng)果更有可能跟內(nèi)容制作商合作,，而不會(huì)收購(gòu)電影公司,。蒙斯特指出，“如果收購(gòu)內(nèi)容制作商,，蘋(píng)果跟不在旗下的內(nèi)容提供商之間就會(huì)發(fā)生沖突,。”

但蒙斯特也寫(xiě)道,，為了進(jìn)一步增長(zhǎng)而收購(gòu)乍看起來(lái)有吸引力,，但不太可能讓投資者滿(mǎn)意，至少中期內(nèi),，或者說(shuō)今后1-2年內(nèi)不能投資者都不會(huì)高興,。因?yàn)橥顿Y者迫切希望在一兩年內(nèi)看到成效。

蒙斯特稱(chēng)：“投資者希望蘋(píng)果收購(gòu)個(gè)公司,，然后像吃了仙丹一樣中短期業(yè)績(jī)立刻大振,，但在我們看來(lái),，問(wèn)題在于能明顯推動(dòng)蘋(píng)果今后1-2年增長(zhǎng)的公司很可能都太大了，收購(gòu)不了,。雖然庫(kù)克在大規(guī)模收購(gòu)方面留有余地,，但我們認(rèn)為，值得蘋(píng)果收購(gòu)的大公司寥寥無(wú)幾,?！保ㄘ?cái)富中文網(wǎng)）

譯者：Charlie

審校：夏林

Following Apple’s second quarter earnings yesterday, many investors and analysts were asking, if Apple does indeed enter an era of acquisitions in order to boost flagging sales—who will they buy?

After all, during the earnings call Tuesday, even CEO Tim Cook noted that the company was “very active” in the acquisition space, and he would be open to making acquisitions larger than the ones made so far. Apple largest acquisition to date was Beats for $3 billion.

So Piper Jaffray Managing Director Gene Munster noted the three key areas he sees Apple making acquisitions: The company’s automotive, virtual reality and mixed reality sectors. Piper Jaffray maintained an overweight rating on the stock, another way of saying buy, and set a price target of $104.35.

Munster started by saying that a potential Apple and Tesla merger or acquisition was highly unlikely. Back in February, Bloomberg reported that Apple’s acquisition chief and Tesla’s CEO Elon Musk met, though no details were leaked.

“We note that buying an established brand with significant brand equity like Tesla defeats the purpose of leveraging Apple’s brand on a car,” Munster wrote, adding that Apple wanted to design, not manufacture cars. “We believe companies developing autonomous vehicle capabilities could make sense for Apple.”

According to Munster, Apple is also likely to make acquisitions in the virtual reality space, and the company could gobble up “teams and products including head-mounted mixed reality displays, light-field technologies, and incorporating human input including hands into computers. ”

Mixed reality, a category that includes Microsoft’s Hololens, would also provide a key area of growth for Apple, since the platform is “the future of screens as we know them.” Munster has also previously predicted that Apple will release a mixed reality headsets to replace the cellphone in about 15 or more years.

But Munster noted one other area where Apple is unlikely to follow in the footsteps of its fellow giant, Amazon: Content streaming.

In order to offer its customers a full selection of content, Apple is more likely to form partnerships with content creators rather than acquire a studio. Munster noted that “if Apple were to acquire content creators, it would put it in conflict with those content owners that Apple did not own.”

But Munster also wrote that while acquisitions seem like an attractive option for further growth, the move is unlikely to please investors—at least not in the medium-term, or within the next one to two years. That’s because investors are thirsty for results within the next one or two years.

“Investors want Apple to buy companies as apanacea for growth in the near to medium term, but in our view the issue is that any companies that could meaningfully change Apple’s growth picture over the next one to two years are probably too large to acquire,” he wrote. “While Cook left the door open for larger deals, we believe there few large companies that make sense for Apple to buy.“