Since the subsequent clauses refer to a parabolic, imaginary situation, the adjurative particle wa is more suitably rendered here as "Oh", instead of the rendering "Consider" usually adopted by me, or the adjuration "By" appearing in most other translations.
Malik Quran Translation
By the snorting steeds (horses that are used in wars),
Yusuf Ali Quran Translation
By the (Steeds) that run with panting (breath) 6241
Yusuf Ali Translation Note Number :
The substantive proposition is in verses 6-8 below, and the metaphors enforcing the lesson are in verses 1-5 here. They have at least three layers of meaning: (1) Look at the chargers (mares or swift camels) panting for war on behalf of their masters. Off they go, striking fire with their hoofs by night at the behest of their riders; they push home the charge in the moming, chivalrously giving the enemy the benefit of daylight; and regardless of flashing steel or the weapons of their enemies they boldly penetrate into the midst of their foe, risking their lives for the Cause. Does unregenerate man show that fidelity to his Lord Allah? On the contrary he is ungrateful to Allah; he shows that by his deeds; he is violently in love with wealth and gain and things that perish. (2) By the figure of metonymy the brave fidelity of the war-horse may stand for that of the brave men and true who rally to the standard of Allah and carry it to victory, contrasted with the poltroonery and pettiness of unregenerate man. (3) The whole conflict, fighting, and victory, may be applied to spiritual warfare against those who are caught and overwhelmed in the camp of Evil.