Meta自8月低点以来股价表现不俗，但我认为仍有进一步上涨空间。我的投资策略是趁优质公司打折时买入，而Meta符合这一思路。这家总部位于门洛帕克、旗下拥有Facebook、Instagram和WhatsApp的母公司，已触达全球数十亿用户。如今，它开始推出AI产品，可能开辟全新的盈利途径。关键点Meta的新个人AI助手Muse为未来变现创造更多机会。公司正拓展企业级AI业务，引入新领导层助推该工作。
Meta has had a nice run since its August lows, but I think there's still more upside ahead. My investment strategy is to buy quality companies when they're on sale, and Meta fits that approach. The Menlo Park-based parent company of Facebook, Instagram and WhatsApp already reaches billions of people around the world. Now it's beginning to roll out AI products that could open up entirely new ways to make money. Key points Meta's new personal AI agent, Muse, opens more opportunities for future monetization. The company is expanding into enterprise AI, bringing in new leadership to help drive the effort.
Meta在AI上的巨额投入长期来看可能获得回报，创造估值尚未反映的新机遇。
Meta's heavy spending on AI could pay off over time, creating new opportunities that aren't yet reflected in its valuation.
令我振奋的是，Meta不再仅是一只广告概念股。它正在孵化新业务，最终可能改变投资者对公司的估值方式。然而，即使从8月低点反弹后，该股过去一年仍下跌约2%，而其“美股七巨头”同行平均上涨约14%。在我看来，这一差距构成了机会。为何我选择买入Muse可能成为颠覆性产品据分析机构Sensor Tower数据，Muse上线前22天下载量超500万次，而ChatGPT用了56天、Grok用了103天、Claude用了492天。
What excites me is that Meta is no longer just an advertising play. It's developing new businesses that could eventually change how investors value the company. Yet even after rebounding from its August lows, the stock is down about 2% over the past year, compared with an average gain of roughly 14% for its Magnificent Seven peers. To me, that gap creates an opportunity. Why I'm buying Muse could be a game changer Muse reached more than 5 million downloads in its first 22 days, compared with 56 days for ChatGPT, 103 days for Grok and 492 days for Claude, according to analytics firm Sensor Tower.
它还在首月登上App Store榜首。公司旗下应用家族已拥有约40亿用户，Muse让Meta拥有庞大的内置受众群，无需完全从零开始获取用户。我也认为Muse的安全与隐私功能可能赋予其竞争优势，尤其是随着消费者越来越习惯让AI助手处理个人任务。此外还有合作伙伴关系。
It also climbed to No. 1 in the App Store during its first month. The company already has roughly 4 billion users across its family of apps. Muse gives it an enormous built-in audience for AI products without having to attract users entirely from scratch. I also think Muse's security and privacy features could give it an advantage over competitors, particularly as consumers become more comfortable allowing AI agents to handle personal tasks.
Meta 已宣布与 OpenTable、沃尔玛、百思买、Spotify 和 Ticketmaster 等公司建立合作关系，这可能使 Muse 在购物、娱乐和预订等方面都能发挥作用。Meta 正在推进企业 AI 业务。Meta 最近聘请了前 MongoDB 首席执行官 CJ Desai 担任其首席企业平台官，以领导其在企业 AI 方面的布局。Desai 此前曾担任 ServiceNow 的总裁兼首席运营官，拥有开发面向大型企业技术的经验。
Then there are the partnerships. Meta has announced relationships with companies including OpenTable, Walmart, Best Buy, Spotify and Ticketmaster, potentially making Muse useful for everything from shopping to entertainment and reservations. Meta is making a push into enterprise AI Meta recently hired former MongoDB CEO CJ Desai as its chief enterprise platform officer to lead its push into enterprise AI. Desai previously served as president and COO of ServiceNow, bringing experience developing technology for large businesses.
随着 Meta 寻求将其 AI 模型和产品转化为面向企业客户的工具，这一经验可能会非常有价值。变现之路正在变得更加清晰。Meta 预计今年在资本支出方面将花费高达 1450 亿美元，而未来几年这一数字可能攀升至 2400 亿至 2600 亿美元。这是一笔巨额支出，我当然希望看到这笔投资的回报。但我对增长轨迹以及长期变现的潜力感到更加乐观。
That expertise could be valuable as Meta looks to turn its AI models and products into tools for corporate customers. The path to monetization is becoming clearer Meta is expected to spend as much as $145 billion on capital expenditures this year, and that figure could climb to $240 billion to $260 billion over the next couple of years. That's a tremendous amount of money, and I absolutely want to see a return on that spending. But I'm feeling better about the growth trajectory and the potential for monetization over time. Meta is still in the early stages of rolling out its AI models and products, but I see several potential paths to generating returns on that investment.
Meta 仍处于推出其 AI 模型和产品的早期阶段，但我认为有几条途径可以实现对该投资的回报。为什么是现在？以大约 744 美元每股的价格，Meta 的股价仍比其 52 周高点近 780 美元低约 5%。根据我的前瞻估计，该股票的市盈率约为 20 倍，企业价值与 EBITDA 比率约为 17 倍。我认为这一估值并不过分，而且这里有很多获胜的方式。
Why now? At roughly $744 a share, Meta remains about 5% below its 52-week high of nearly $780. Based on my forward estimates, the stock trades at roughly 20 times earnings and 17 times enterprise value to EBITDA. I don't think that's a demanding valuation and there are many ways to win here. META 1Y mountain Meta, 1 year Bottom line The biggest risk is that Meta continues spending heavily on AI without generating enough incremental revenue and profits to justify those investments.
META 1Y 山形图 Meta，1 年 底线 最大的风险是 Meta 继续在 AI 上大笔投入，但未能产生足够的增量收入和利润来证明这些投资的合理性。但我相信该公司具备规模和财务资源，能够让这些投资获得回报。Stephanie Link 是 Hightower Advisors 的首席投资策略师，她所在的部门管理着 85 亿美元的资产（数据截至 2026 年 6 月 4 日）。她拥有 35 年的资金管理经验，并担任 KKR 投资委员会成员。
But I believe the company has the scale and financial resources to make those investments pay off. Stephanie Link is the Chief Investment Strategist at Hightower Advisors, where her division manages $8.5 billion in assets (as of June 4, 2026). She has 35 years of experience managing money and serves on KKR's investment council. She earned a B.S. in finance from Boston College.
她获得波士顿学院金融学学士学位。披露：Link 持有 Hightower Advisors 的股份。[CNBC Pro 投稿人] 表达的所有观点仅代表其个人观点，不代表 CNBC 或其母公司及关联公司的观点，且可能之前已通过电视、广播、互联网或其他媒体由他们传播。本内容仅作为我们编辑输出的一部分提供，仅供参考，不构成财务、投资、税务或法律建议，也不构成购买任何证券或其他金融资产的推荐。
Disclosures: Link owns in Hightower Advisors. All opinions expressed by the [CNBC Pro contributors] are solely their opinions and do not reflect the opinions of CNBC, or its parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. This content is provided as part of our editorial output for informational purposes only and does not constitute financial, investment, tax or legal advice or a recommendation to buy any security or other financial asset. The content is general in nature and does not reflect any individual's unique personal circumstances.
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