$META · Parkev Tatevosian, CFA · 2026-11-02
Meta Platforms 股价接近 615 美元，而合理价值约 928 美元；这一差距源于 AI 支出使自由现金流转为负值，令投资者担忧。Meta 在 AI 应用上仍处领先，营收增长 26%，员工人数减少 12%；MetaMuse 下载量已突破 1000 万，但尚未产生收入，也未计入他的自由现金流估算。他持有该股，并愿意在当前价位附近加仓。
逐段跳播
我接下来要重点介绍的、现在可以买入的九大股票之一是 Meta Platforms。我对 Meta 做了同样的计算，得出的公允价值估计是928美元，而当前市场价格是615美元。
The next stock I will highlight as one of the top nine stocks you can buy right now is Meta Platforms. I performed the same calculations for Meta, and arrived at a fair value estimate of $928 compared to the current market price of $615.
你今天能以低于真实价值的价格买到 Meta 股票，原因和 Amazon 一样：它在人工智能上的巨额支出使其自由现金流变为负值，这让投资者担忧。
The reason you can get Meta shares for less than their true value today is the same reason Amazon is: its massive spending on artificial intelligence has turned its free cash flows negative, and that worries investors.
不过，Meta 仍然处于利用人工智能改善业务的公司的最前沿。在公布业绩的大型云计算公司中，它是实现了生产率提升的公司之一。它实现了26%的营收增长，同时将员工人数减少了12%。
However, Meta remains at the forefront of companies applying artificial intelligence to improve their business. It was among the top major cloud computing companies that reported results in achieving productivity benefits.
It recorded revenue growth of 26% while reducing the number of employees by 12 %
此外，我们还看到了其个人助理 MetaMuse 的成功，下载量已超过1000万次，但尚未产生利润。因此，这些业绩甚至还没有反映在我对公司未来几年自由现金流的估算中。
In addition, we saw the success of MetaMuse, her personal assistant, which has surpassed 10 million downloads, but has not yet generated profits. Therefore, those results are not even reflected in my estimates of the company's free cash flow in the coming years.
我的投资组合中持有“Meta”股票。它是我最大的持仓之一，如果价格保持在接近这些水平，我有兴趣继续加仓。
I own "Meta" shares in my investment portfolio. It's one of my largest positions , and I'm interested in adding more if prices stay around these levels.
这个频道对 $META 的历次判断
Parkev Tatevosian, CFA 在这只股票上共 17 条判断，这里只列相邻的几条。