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《大行》摩通:Meta(META.US)業績及指引向好 上調收入及盈利預測
阿思達克 08-01 10:53
摩根大通發表研究報告指,Meta(META.US)第二季業績及第三季指引表現強勁,由AI驅動的用戶參與度提升及廣告優化,推動收入增長加速至22%,管理層更預期第三季增速有望進一步提升。雖然Llama 4模型的推出面臨挑戰,AI團隊也經歷重大調整,但摩通相信其核心廣告業務仍將保持強勁。Meta維持2025年資本支出上限爲720億美元不變,透露2026年資本支出可能高達1,000億美元,才能實現「全民超級智能」願景。 摩通將Meta今年收入預測上調5%,2026至2027年收入預測上調7%至8%,經調整每股盈利預測上調6%及2%,將目標價由795元上調875美元,相當於預測2027財年市盈率25.5倍,評級爲「增持」。 摩根大通估計Meta於今年第三季及第四季資本支出爲195.63億及215.73億美元,按年各升1.37倍及49.6%,並估計Meta於2025年、2026年及2027年季資本支出各爲706.16億、1,050.59億及1,181.91億美元,按年分別增長89.5%、48.8%及12.5%。
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