看好 Meta 的三大理由

Core Viewpoint - Meta remains the undisputed leader in the social media sector, which lays a solid foundation for building its artificial intelligence moat [1] Group 1: AI Development and Data Advantage - Meta generates millions of posts and comments daily across its social applications, providing unparalleled data for training its large language models [1] - The company is developing two new large language models, codenamed "Mango" and "Avocado," expected to launch in the first half of 2026, led by the "Super Intelligence" team formed by CEO Mark Zuckerberg [4] - Meta's acquisition of Scale AI for $15 billion enhances its AI capabilities, with analysts believing the new models have outstanding potential due to Meta's strong acquisition history [4][7] - Meta's revenue for the last 12 months approached $190 billion, with Instagram contributing significantly to this figure, showcasing a remarkable return on investment from past acquisitions [5] - WhatsApp, acquired for $16 billion, has over 3 billion monthly active users, indicating substantial monetization potential, and is expected to drive revenue growth for Meta from 2026 to 2027 [6] Group 2: Competitive Edge and Market Position - Meta possesses unmatched data resources necessary for training large language models, with estimates suggesting Instagram alone generates around 100 million posts daily [10] - The daily active to monthly active user ratio for Facebook and Instagram is close to 70%, indicating a significant user engagement level [11] - Meta's data advantage lies in the rich user interaction feedback from social media, which is more detailed than data from search engines like Google [12] - The company is actively acquiring promising AI startups, such as Manus for approximately $2 billion, which has a validated market presence with annual sales exceeding $100 million [12][13] Group 3: Valuation and Future Outlook - Meta's current valuation is attractive, with a projected dynamic price-to-earnings ratio of 21.7 for the fiscal year 2026, significantly below its historical average [2][15] - Even with modest growth in earnings per share, the price-to-earnings ratio could drop below 20 in the following years [15] - Analysts believe that despite potential risks, Meta's numerous favorable factors make it a company worth watching [16]