《大行》大摩:美圖(01357.HK)增長軌跡不受谷歌Nano Banana模型走紅影響
摩根士丹利報告指,美圖(01357.HK)股價昨日(1日)下跌14%,原因是谷歌Nano Banana在社交媒體上迅速走紅,引發市場對人工智能侵蝕軟件價值的擔憂。然而,今年以來,美圖已因GPT-4o和谷歌Veo3等AI模型的更新而多次下跌。
該行認爲,在人工智能時代,應用程式的價值在於提供「最後一哩」的解決方案,以增強通用人工智能模型無法完全實現的效果。美圖憑其高度專業化專有數據和場景導向產品,提供高品質「最後一哩」解決方案。美圖亦已把谷歌Nano Banana無縫融入其國際產品中,對全球所有人工智能模型保持中立和開放的態度。
該行認爲,儘管Nano Banana或其他AI模型的出現,美圖增長軌跡依然完好,相信模型能力的每次進化都將有助美圖提升其人工智能功能。該行重申對美圖「增持」評級,目標價15.7元。
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