They had me at the Iron Man reference.
在看到英特尔引用《钢铁侠》（Iron Man）之后，我就开始喜欢上这家公司了。
Intel stole the show at this year’s Consumer Electronics Show [Sizemore Capital is long INTC], introducing a “ smart bowl” that will wirelessly charge your phone and other gadgets, a “ smart onesie” that lets parents monitor their baby’s vital signs, and—my personal favorite— Jarvis, a smart, always-on Bluetooth earpiece that essentially does what the iPhone’s Siri does but without having the inconvenience of taking your phone out of your pocket. Jarvis is also far more proactive than Siri; rather than simply answer questions, Jarvis will offer unsolicited suggestions, will rearrange your calendar for you and will even nag you to call your wife.
英特尔在今年的国际消费电子展（CES）上出尽了风头[塞兹莫尔资本管理公司（Sizemore Capital Management）目前做多英特尔股票]，该公司推出了一款可以给手机及其他电子产品进行无线充电的“smart bowl”，一款让父母监测小孩生命体征的“智能连体衣（smart onesie）”以及我个人最喜欢的一款永远开启的智能蓝牙耳机Jarvis——它基本上具有与iPhone语音助手Siri相同的功能，但无需劳烦你从口袋里拿出手机。而且，Jarvis还远远比Siri更加主动；它不仅会回答问题，而且会主动提供一些建议，会为你重新安排日程表，甚至敦促你打电话给老婆。
Jarvis is, of course, named after the digital assistant created by Tony Stark in the Iron Man comic book and movie franchise. Alas, there was no prototype of a flying robotic suit at the CES.
当然，Jarvis这个名字取自《钢铁侠》漫画书和电影里托尼·斯塔克（Tony Stark）开发的数字化助理。很遗憾，在CES上没有飞行机器人套装的原型。
Apple. But all are fine examples of Intel’s strategy for the future: making “ everything smart” in the internet of things.
所有这些产品都是新颖小巧而价廉的产品，而且都不可能像最初的iPod和iTunes重塑苹果那样重塑英特尔。但是，所有这些产品都是英特尔未来发展战略的杰出实例：让物联网中的“一切智能化”。
What does this mean to those of us who don’t speak geek fluently?
对于我们当中那些无法流利使用科技术语的人而言，这意味着什么呢？
Think about the smart onesie I mentioned above. Your baby’s can could send a signal to the bottle warmer in your kitchen to prepare his or her midnight snack.
试想我上面提到的智能连体衣。你宝宝身上的连体衣可以向厨房里的暖奶器发出一个信号，让暖奶器准备宝宝的夜宵。
In a nutshell, rather than run as a “me too” smartphone manufacturer or mobile chip maker, Intel is taking the lead in making your appliances, gadgets and, yes, even your clothes talk to each other. And their vehicle for doing this is Edison, a Pentium-class computer the size and shape of an SD card you might put in a digital camera. Despite its small size, it has Bluetooth and WiFi connectivity.
概括而言，英特尔没有成为一家“跟风”的智能手机制造商或者移动芯片制造商，而是带头制造家用电器、电子产品以及——是的——甚至可以相互“交谈”的衣服。而他们这样做的平台是奔腾级微型电脑Edison，其大小和形状就像一张可以插入数码相机的SD卡。尽管尺寸小，但它具有蓝牙和WiFi联网功能。
Edison is that it can be used virtually everywhere. Your coffee pot could start brewing when your smart pillow detected that you were starting to stir. Your car could start itself and get the heater running on cold winter mornings when you put your breakfast plates in the smart dishwasher. The possibilities are literally endless.
Edison的迷人之处，在于它几乎可以用在任何地方。当你的智能枕头探测到你有要醒来的迹象时，你的咖啡壶可以开始煮咖啡。当你把早餐盘子放入智能洗碗机中的时候，你的汽车可以自行启动，在冬天寒冷的早晨让汽车开始预热。它能做到的事情简直没有止境。
Intel needs this. While I never subscribed to the bearish argument that the PC platform was dying and pulling Intel into the grave with it, Intel’s core PC processor design and manufacturing is a mature business with limited growth potential. The growth of mobile devices and cloud computing have been a boon to Intel’s server business. But even within servers, companies are learning to do more with less via distributed processors. If Intel wants to be a true growth stock again, it needs to create fundamentally new markets. And the Edison platform has the potential to do that.
英特尔需要这个。虽然我从来没有赞同过所谓PC平台正在消亡并且把英特尔拉入坟墓为其陪葬这种悲观的观点，但英特尔的核心业务PC芯片设计与制造已成为一项增长潜力有限的成熟业务。对于英特尔的服务器业务而言，移动设备和云计算的发展一直是个福音。不过，即使在服务器领域内，各大公司也正在学习通过分布式处理器，做到用较少的芯片完成更多的任务。如果英特尔希望再次成为一只真正的成长型股票的话，那么从根本上说，它需要创造一系列新的市场。而Edison这个平台具有实现这个目标的潜力。
Microsoft, Cisco and Intel were the winners of the PC and early internet age [Sizemore Capital is long MSFT and CSCO]. Yet each of these big technology companies suffers from the same problems today: all of their products—yes, even smartphones— are mature and their markets are quickly getting saturated.
哪家公司将会成为物联网领域中的主导者呢？目前还言之过早。苹果、谷歌和三星都是过去十年以来移动计算革命中的明显赢家，就像微软、思科和英特尔曾是PC和早期互联网时代的赢家那样（塞兹莫尔资本管理公司目前做多微软和思科股票）。然而，这些大型科技公司如今都遭受同样的问题：他们所有的产品（是的，甚至智能手机）都已经成熟，而且他们的市场正在迅速趋于饱和。
Think I’m exaggerating? Read Samsung Electronics last earnings release. Despite having a cutting-edge line of smartphones that can go head to head with Apple’s iPhone, Samsung is having a hard time maintaining profitability.
认为我言过其实了？请阅读三星电子上次发布的季度财报吧。尽管拥有可以与苹果iPhone正面交锋的最先进的智能手机，但三星很难保持盈利水平。
Returning to Intel, what might Edison and Jarvis mean for Intel stock?
回过头来再说英特尔，Edison和Jarvis对于英特尔股票而言可能意味着什么呢？
I would think of them as embedded call options. If they never get off the ground, then they expire worthless and the value of Intel is its core PC and server chip businesses. But if they are successful in spurring a “smart everything” revolution, then Intel stock could be the next Apple.
我会把它们看作为嵌入式看涨期权。如果它们永远无法取得进展的话，那么它们会在到期时变得毫无价值，而英特尔的价值就是其PC和服务器芯片这块核心业务。但是，如果它们成功推动“一切智能化”的革命的话，那么英特尔股票可能会成为下一只苹果股票。
At current prices, it’s hard to see a lot of risk here. Intel stock trades for just 13 times earnings, and its 3.5% dividends makes it one of the highest-yielding large-cap stocks on the U.S. exchanges. The market appears to be valuing Intel’s smart initiatives at pretty close to zero—implying that you’re risking next to nothing in buying Intel stock at these prices.
按照目前的股价来看，在此很难看出很多风险。英特尔股票目前价格仅相当于每股收益的13倍（即市盈率为13倍），而且其3.5％的股息收益率使之成为美国股市上股息收益率最高的大市值股票之一。市场对英特尔智能产品开发举措的评估似乎差不多接近于零，这意味着如果在目前这些价位买入英特尔股票的话，那么承担的风险几乎没有。
It may seem absurd right now to suggest that Intel is the next Apple. But then, back in 2000, Apple was a struggling also-ran in the PC wars. And then along came the iPod…
现在就预测英特尔将是下一个苹果，看上去可能有些荒谬。但是，早在2000年，苹果公司也曾经是在PC大战中举步维艰的失败者。然后苹果推出了iPod……
Charles Lewis Sizemore, CFA, is the editor of Macro Trend Investor and chief investment officer of the investment firm Sizemore Capital Management. Click here to receive his FREE weekly e-letter covering market insights, global trends, and the best stocks and ETFs to profit from today’s exciting megatrends. This article first appeared on InvestorPlace
本文作者查尔斯·李维斯·塞兹莫尔（Charles Lewis Sizemore）是一位注册金融分析师,他是投资简讯《宏观趋势投资者》（Macro Trend Investor）的编辑，而且是投资公司——塞兹莫尔资本管理公司（Sizemore Capital Management）的首席投资官。点击此处可获得他的每周免费电子版投资简讯，该简讯涉及市场洞察、全球趋势，以及从如今令人兴奋的诸多大趋势中获利的最佳股票和ETF。这篇文章最初发表在财经网站InvestorPlace上。
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