夜雨聆风Major cloud computing companies in Silicon Valley see rising profits, but their cash flow keeps dropping. 1. ______ Several big tech firms will face negative cash flow this year, and one company is already in financial trouble.
The main reason is huge investment in AI. These firms spend billions on AI equipment. Such spending is not obvious in profit reports because assets depreciate slowly. 2. ______ Their total capital spending has reached a record high.
Some old opinions about these tech firms are no longer reasonable. People once thought stock buy-backs proved good cash flow. 3. ______ Others thought their low price-earnings ratio meant reasonable value. 4. ______ This figure fails to include massive AI spending, so it cannot show the real situation. Now investors watch financial data more closely. 5. ______
选项
A. Big tech companies have changed from making money to burning money.
B. Cash flow statements can show the real cost clearly.
C. Yet stock buy-backs have decreased greatly recently.
D. However, this kind of judgment is misleading.
E. They no longer blindly trust the industry’s bright future.
F. Tech giants have given up large-scale AI investment.
G. Oil industry once learned lessons from tech companies.
答案：1.A 2.B 3.C 4.D 5.E
多余项：F、G
简要解析
1.A：承接利润上涨、现金流下滑的现状，总结科技企业从盈利转向烧钱。
2.B：前文指出利润表无法体现投入，本句说明现金流量表能反映真实支出。
3.C：反驳旧观点，点明股票回购规模大幅下降，现金流压力凸显。
4.D：指出依靠市盈率判断估值的方式存在误导性，并不客观。
5.E：投资者愈发重视真实财报，不再盲目看好AI行业前景。