NEW YORK, NEW YORK - NOVEMBER 30: Andy Jassy on stage at the 2022 New York Times DealBook on November 30, 2022 in New York City. (Photo by Thos Robinson/Getty Images for The New York Times)Getty Images for The New York TimesAmazon announced another round of layoffs as part of what CEO Andy Jassy described as an ongoing cultural reset. Tens of thousands of roles have been eliminated over the past two years as the company restructures around cloud infrastructure, AI services, and operational efficiency. Many ...

该行重申对Meta的"买入"评级，将其目标价从815美元上调至835美元；在过去一个月内第二次上调2026 财年收入预测，预计达到约2510亿美元(按年增长25%，或扣除汇率影响后按年增长21%)。 高盛发表研究报告，Meta在2025年第四季的财报显示两大核心主题，包括核心广告业务(用户增长/参与 和变现)继续增长势头，并随着业务开始展现AI在内容推荐及广告行业的规模化影响而显著加速；持续 增加的前瞻性投资，高盛预测2026财年的GAAP总支出约为1660亿美元，总资本支出约为1320亿美元， 随着AI持续扩展，管理层的评论集中于优化内部成本，但对2027年及以后的投资规划仍缺乏明确性。 ...

TrendForce集邦咨询供应链调查结果显示，Meta初期对AR眼镜市场需求采取相对保守的态度，除了考量过往VR装置销售的表现，也因关键光学零部件的 供应仍受限。以Lumus阵列光波导为例，由于制程相对复杂与精密，Meta最初的订单仅约8万台，属于测试市场水温的规模；产品上市半年内，拉货节奏 迅速调整，近期已扩大至15万台，增幅高达87.5%。其余如OmniVision的Liquid Crystal on Silicon(LCoS)、Goeroptics光引擎组装，以及SCHOTT的光波导关 键光学零部件订单，也呈阶梯式成长。 TrendForce集邦咨询表示，此一情况反映产品在渠道端去化速度极快，也显示消费者仍高度好奇带有显示的AI智能眼镜，更象征Meta在穿戴式装置策略的 调整，已一定程度扭转过去VR装置销售疲弱引发的市场疑虑。 短期内，Meta的成功势必加速其他品牌及生态系伙伴对AR眼镜的硬件规格升级，以及AI应用情境深化与软件生态整合发展。然而，在Meta发布下一代产 品前，Samsung(三星)、Google(谷歌)等大厂亦会推出自有品牌的AR眼镜。现有供应链在光学、显示与组装等关键环节的产能与良 ...

Jan. 30, 2026 Tr e n dFo r c e 集 邦 咨 询 供 应 链 调 查 结 果 显 示 ， Me t a 初 期 对 AR 眼 镜 市 场 需 求 采 取 相 对 保 守 的 态 度，除了考量过往VR装置销售的表现，也因关键光学零部件的供应仍受限。以Lumu s阵列光波 导为例，由于制程相对复杂与精密，Me t a最初的订单仅约8万台，属于测试市场水温的规模； 产 品 上 市 半 年 内 ， 拉 货 节 奏 迅 速 调 整 ， 近 期 已 扩 大 至 1 5 万 台 ， 增 幅 高 达 8 7 . 5% 。 其 余 如 Omn iVisi o n 的 Li q u i d Cr y st a l o n Sili c o n (LCoS) 、 Go e r o p ti c s 光 引 擎 组 装 ， 以 及 SCHOTT 的 光波导关键光学零部件订单，也呈阶梯式成长。 为应对逐步升温的拉货力道，上游显示与组装相关的代工体系正同步优化产线并提升良率，以 协助Me t a达成未来两年内累积5 0万台出货量的阶段性目标。 产业洞察 Tr e n dFo r c e集邦咨询表示，此一情况反 ...

We recently published 10 Big Names With Explosive Gains.  Meta Platforms Inc. (NASDAQ:META) was one of the top performers on Thursday. Facebook operator Meta Platforms jumped by 10.40 percent on Thursday to close at $738.31 apiece as investors took heart from an investment firm’s 9 percent price target upgrade for its stock despite reporting lower profits in full-year 2025. In its market report, BofA Securities raised its price target for the stock to $885 from $810 previously, while reaffirming its “buy ...

Core Insights - Meta Platforms reported strong earnings, exceeding estimates with a revenue increase of 24% to $59.9 billion for the quarter and over $200 billion for the full year, marking a 22% year-over-year growth [2][4] - The company forecasted capital expenditures (capex) for 2026 to reach between $115 billion and $135 billion, indicating a significant investment in AI and its core business [3][4] - This capex forecast represents a 73% increase from the previous year, with infrastructure spending expected to triple over two years, signaling a robust acceleration in AI investments [4] Industry Implications - Meta's substantial capex forecast is expected to benefit various sectors within the AI industry, particularly companies involved in data center operations [6] - CoreWeave, a key player in the AI sector, is likely to gain significantly from Meta's spending, having established a $14 billion agreement with Meta for cloud computing capacity through 2031 [7][8] - The partnership with CoreWeave positions it to capitalize on Meta's investments in AI infrastructure, potentially enhancing its market performance [6][7]

Group 1 - The core viewpoint of the article is that Meta's performance in Q4 2025 and guidance for Q1 2023 exceeded expectations due to growth in AI and user engagement [1] - The report from China Merchants Securities indicates a positive outlook for Meta, highlighting its leading position in social media and AI, along with attractive valuation compared to other large tech companies [1] - Capital expenditures for Q4 2025 and the full year are projected to be $22.1 billion and $72.2 billion respectively, showing a continuous increase that raises concerns about insufficient AI progress in the second half of 2025 [1] Group 2 - Despite concerns over high capital expenditures, Meta's stock rebound and strong performance reflect its dominant position in the social media sector [1] - The combination of high Daily Active Users (DAP) with AI recommendations and content optimization is expected to support revenue growth, which will be sufficient to cover high capital expenditures and achieve recovery [1]

Summary of Meta Platforms Inc. Earnings Call Company Overview - **Company**: Meta Platforms Inc - **Industry**: Internet - Large Cap / Mid & Small Cap Key Points and Arguments Revenue Growth and Financial Guidance - Meta aims for 2026 revenue growth in the 20% range, with 1Q26 revenue growth projected to be in the 30% range, indicating strong momentum [1][9] - Total expenses for 2026 are expected to be between $162 billion and $169 billion, which is higher than previous expectations [1][14] - Capital expenditures (capex) for 2026 are projected to be between $115 billion and $135 billion, also above prior estimates [1][14] AI and Advertising Improvements - Significant AI-driven ad improvements are expected to enhance engagement and monetization, with Instagram Reels watch time up over 30% year-over-year in the US [2][14] - Meta is seeing a 7% lift in organic feed and video posts on Facebook, contributing to the largest quarterly revenue impact from product launches in the past two years [2][14] - AI productivity improvements have led to a 30% increase in output per engineer, with power users of AI coding tools seeing an 80% year-over-year increase in output [14] Operating Income and EPS - Meta has established bottom-line guardrails with operating income growth projected for 2026, while Reality Labs operating losses are expected to remain similar to the previous year [1][9] - GAAP EPS for 2026 is projected to be $31.51, with a decrease of 3-4% in EPS estimates for 2026/2027 due to the removal of share repurchases [1][9] Frontier Model Development - Expectations for a frontier large language model (LLM) have been tempered, with emphasis on developing initial models that will be "good" rather than frontier-level in the first half of 2026 [1][9] - The timing for a frontier model may be pushed out, but the industry is rapidly innovating, with anticipation for new models in the coming months [1][9] Market Reaction and Valuation - Meta shares rose 7% in after-market trading following the earnings report, although some pushback is expected [1][9] - The price target for December 2026 has been raised from $800 to $825, based on a valuation of approximately 26 times the estimated GAAP EPS for 2027 [1][9] Financial Estimates - **2026 Revenue**: $252.26 billion, with a year-over-year growth of 25.5% [4][19] - **2027 Revenue**: $294.27 billion, with a year-over-year growth of 16.7% [4][19] - **Adjusted EBITDA for 2026**: $142.24 billion, with a margin of 56.4% [4][19] - **Free Cash Flow (FCF)**: Projected to be modestly positive at $5 billion for 2026 [1][9] Other Notable Insights - Meta's focus on AI and the Metaverse is expected to drive significant infrastructure investments, but the company has a strong track record of generating returns on increased spending [9] - The company is expected to self-finance its infrastructure investments in 2026 while also considering cost-efficient external financing [14] Conclusion Meta Platforms Inc. is positioned for strong revenue growth driven by AI advancements and advertising improvements, despite rising expenses and tempered expectations for frontier model development. The company maintains a positive outlook for 2026 and beyond, supported by a robust valuation and strategic investments in technology.

权益类与FOF基金齐发力 新发基金规模突破千亿元 今年以来，新基金发行速度加快，总规模已超千亿元。权益类基金与FOF产品频现爆款，多只基金发行 规模超30亿元，部分基金一日售罄。截至1月29日，年内新成立110只基金，发行规模合计1105.4亿元， 其中85只为权益类基金，合计768.1亿元。广发研究智选混合基金等多只基金发行规模居前。FOF产品 也保持高热度，2025年发行规模已突破800亿元。此外，市场上仍有逾百只基金正在或即将发行，权益 类基金和FOF产品成为主力。业内人士对A股市场持乐观态度，重点关注科技成长行业。(上海证券报) 科创板超260份业绩预告出炉 订单增长彰显发展潜力 随着上市公司2025年业绩预告进入密集披露期，多家科创板企业年度业绩"答卷"也提前揭晓。数据显 示，截至1月29日19时30分，超260家科创板公司公布2025年业绩预告，从披露情况来看，报喜公司（包 括预增、扭亏、略增）数量达105家，占比约四成，还有超50家公司预计同比减亏。业内人士认为，科 创板紧密连接国家科技创新战略，聚焦人工智能、生物医药等前沿领域，其制度创新吸引优质企业上 市，并不断吸引"耐心资本"入场。目前随着 ...

"Microsoft disappointed and there are some ‌genuine concerns that AI investments will eat the software companies' lunches," said John Praveen, managing director & Co-CIO, Paleo Leon in Princeton, New Jersey. Investors are trying to "reduce exposure to stocks and play it safe" against a backdrop of broader uncertainties including who the Federal Reserve's next chair will be and how many interest rate cuts it will make, according to Praveen who also cited political uncertainties around Washington's stance in ...