<p><strong>字母表</strong> 是全球第五大公司，市值达到 2 万亿美元，这一地位得益于其在全球搜索引擎市场的主导地位、快速增长的云计算业务以及在数字广告市场的强大份额。</p>
<p>这家科技巨头现在正在其关键业务中部署人工智能（AI）工具，以确保能够在长期内维持健康的增长水平。字母表的 AI 投资似乎正在取得成效。</p>
<p>该公司的谷歌云收入在第一季度同比增长 28%，其他业务板块也表现出强劲增长。字母表的新 AI 驱动搜索和广告工具也在获得动力，这表明公司可能正处于强劲增长曲线的开端。</p>
<p>然而，还有另一家科技巨头在过去三年中提供了比字母表更强的回报，并且正在充分利用数字广告领域中快速增长的 AI 采用。让我们仔细看看这个名字，看看为什么它可能在未来三年内超越字母表的市值。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcxMzkvcGVyc29uLWNvbXB1dGVyLXN0b2NrY2hhcnQuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcxMzkvcGVyc29uLWNvbXB1dGVyLXN0b2NrY2hhcnQuanBnJnc9NzAw"/></p>
<p>来源：Getty Images</p>
<h2>Meta Platforms 的表现超过字母表，这一趋势可能会持续</h2>
<p><strong>Meta Platforms</strong>（META 1.68%）的股票在过去三年中实现了 181% 的显著增长，轻松超过了字母表同期 40% 的涨幅。Meta 股票的强劲上涨可归因于公司营收和净利润的更快增长。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/4597c6b83e5a6e3a67a5dedc18eaf4e8.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/4597c6b83e5a6e3a67a5dedc18eaf4e8.png"/></p>
<p>META 收入（TTM）数据来源于 YCharts；TTM = 最近 12 个月。</p>
<p>其最新结果表明，未来三年它可能仍会比字母表增长更快。这家社交媒体巨头的收入在第一季度同比增长 16%，比字母表同期快了 4 个百分点。Meta 的调整后每股收益在第一季度同比跃升 37%，达到 6.43 美元，超过了字母表 20% 的增长（不包括来自一家非上市公司股权投资的 80 亿美元未实现收益）。</p>
<p>Meta Platforms 受益于用户基础的增加、广告展示次数的激增以及每个广告的平均价格的强劲增长。具体而言，该公司在其应用家族中结束了本季度，日活跃用户达 34.3 亿。</p>
<p>与此同时，AI 驱动的广告工具的整合帮助其实现了广告展示次数增加 5% 和每个广告平均价格上涨 10% 的成绩。去年同期每个广告的平均价格上涨了 6%。</p>
<p>首席执行官马克·扎克伯格在公司最新的财报电话会议上表示，其 AI 驱动的广告工具因能够提高广告支出的回报而在广告商中获得了关注。公司的 AI 驱动内容推荐正在推动其 Facebook、Instagram 和 Threads 平台的参与度提升。</p>
<p>根据扎克伯格的说法：</p>
<blockquote>
<p>AI 已经使我们在定位和找到对其产品感兴趣的受众方面比许多企业自己做得更好，并且这一点还在不断改善。现在，AI 也为许多企业生成了更好的创意选项。我认为这实际上正在重新定义广告，将其转变为一个能够大规模交付可衡量商业成果的 AI 代理。</p>
</blockquote>
<p>他表示，他相信广告在长期内可能会对全球经济贡献更大份额，这得益于 AI 带来的生产力提升。事实证明，他的公司认为到 2035 年可以从生成性 AI 中获得 4600 亿到 1.4 万亿美元的收入。这将是 Meta 预计在 2025 年从其生成性 AI 产品中获得的 20 亿到 30 亿美元收入的显著增长。</p>
<p>分析师预计 Meta 在 2025 年将产生 1865 亿美元的收入，这意味着在未来十年内，其营收还有很大的增长空间，得益于 AI。因此，公司决定在今年增加对 AI 基础设施的投资。它将 2025 年的资本支出（capex）指导提高到 640 亿到 720 亿美元的范围，高于之前的 600 亿到 650 亿美元的估计。</p>
<p>扎克伯格表示，2025 年增加的资本支出将用于支持 “生成性 AI 和核心业务需求”。从长期来看，这是一项明智的举措，因为 Meta 在未来十年内看到了 AI 带来的巨大市场收入机会。</p>
<h2>更强的盈利增长可能帮助 Meta 成为比字母表更大的公司</h2>
<p>Meta 是全球第七大公司，市值为 1.5 万亿美元。这使其落后于字母表，后者目前的市值大约大 33%。然而，Meta 可以在未来三年内通过实现更强的盈利增长来弥补这一差距，这一点从下面的图表中可以看出。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/b62c556852cd9d53c3b3c7d690367f3e.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/b62c556852cd9d53c3b3c7d690367f3e.png"/></p>
<p>META 当前财政年度每股收益预估数据来源于 YCharts；EPS = 每股收益。</p>
<p>作为比较，预计字母表的收益明年将增长近 7%，2027 年将增长 14%。假设 Meta 的收益在 2027 年增加到每股 32.90 美元，并且在那时以 28 倍的收益交易，符合 <strong>纳斯达克 100</strong> 的收益倍数（使用该指数作为科技股的代理），其股价可能跃升至 954 美元。这将比当前水平上涨 60%。</p>
<p>因此，Meta 稳健的盈利增长很可能在未来三年内转化为市场上的健康收益。该股票目前的市盈率为 23 倍，因此与更广泛的指数相比，投资者可以以折扣价购买。此外，Meta 盈利的更快增长可能会导致市场给予其溢价估值，这可能足以帮助这只 &#34;七大奇迹&#34; 股票成为比 Alphabet 更大的公司。</p>

META

<p>Meta Platforms 在股票表现上超过了 Alphabet，过去三年增长了 181%，而 Alphabet 则增长了 40%。Meta 的收入增长归因于用户基础的增加和有效的人工智能广告工具，使得第一季度的收入增长了 16%。首席执行官马克·扎克伯格预计生成性人工智能将带来显著的收入增长，预计到 2035 年将达到 4600 亿到 1.4 万亿美元。Meta 在人工智能基础设施上的资本支出将会增加，为其在未来三年内可能超过 Alphabet 2 万亿美元估值的市场资本增长做好准备</p>

<p><strong>Alphabet</strong> is the fifth-largest company in the world with a market cap of $2 trillion, and it has reached this position thanks to its dominance in the global search engine market, a fast-growing cloud computing business, and its strong share in the digital advertising market.</p>
<div class="lb-trans"><p><strong>字母表</strong> 是全球第五大公司，市值达到 2 万亿美元，这一地位得益于其在全球搜索引擎市场的主导地位、快速增长的云计算业务以及在数字广告市场的强大份额。</p>
</div><p>The tech giant is now deploying artificial intelligence (AI) tools across its key businesses to ensure that it can maintain healthy levels of growth in the long run. Alphabet's AI investments seem to be bearing fruit.</p>
<div class="lb-trans"><p>这家科技巨头现在正在其关键业务中部署人工智能（AI）工具，以确保能够在长期内维持健康的增长水平。字母表的 AI 投资似乎正在取得成效。</p>
</div><p>The company's Google Cloud revenue increased 28% year over year in the first quarter, along with robust growth in other segments. Alphabet's new AI-powered search and advertising tools are also gaining momentum, suggesting that the company could be at the beginning of a strong growth curve.</p>
<div class="lb-trans"><p>该公司的谷歌云收入在第一季度同比增长 28%，其他业务板块也表现出强劲增长。字母表的新 AI 驱动搜索和广告工具也在获得动力，这表明公司可能正处于强劲增长曲线的开端。</p>
</div><p>However, there's another tech giant that has delivered stronger returns than Alphabet over the past three years and is making the most of the fast-growing adoption of AI within the digital ad space. Let's take a closer look at this name and check why it could overtake Alphabet's market cap over the next three years.</p>
<div class="lb-trans"><p>然而，还有另一家科技巨头在过去三年中提供了比字母表更强的回报，并且正在充分利用数字广告领域中快速增长的 AI 采用。让我们仔细看看这个名字，看看为什么它可能在未来三年内超越字母表的市值。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcxMzkvcGVyc29uLWNvbXB1dGVyLXN0b2NrY2hhcnQuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F817139%2Fperson-computer-stockchart.jpg&amp;op=resize&amp;w=700"/></p>
<p>Source: Getty Images</p>
<div class="lb-trans"><p>来源：Getty Images</p>
</div><h2>Meta Platforms has outperformed Alphabet, and that trend could continue</h2>
<div class="lb-trans"><h2>Meta Platforms 的表现超过字母表，这一趋势可能会持续</h2>
</div><p><strong>Meta Platforms</strong>(META 1.68%) stock has delivered impressive gains of 181% in the past three years, easily outpacing the 40% jump in Alphabet during this period. Meta stock's stronger jump can be attributed to the faster growth in the company's top and bottom lines.</p>
<div class="lb-trans"><p><strong>Meta Platforms</strong>（META 1.68%）的股票在过去三年中实现了 181% 的显著增长，轻松超过了字母表同期 40% 的涨幅。Meta 股票的强劲上涨可归因于公司营收和净利润的更快增长。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/4597c6b83e5a6e3a67a5dedc18eaf4e8.png" alt="" original-src="https://media.ycharts.com/charts/4597c6b83e5a6e3a67a5dedc18eaf4e8.png"/></p>
<p>META Revenue (TTM) data by YCharts; TTM = trailing 12 months.</p>
<div class="lb-trans"><p>META 收入（TTM）数据来源于 YCharts；TTM = 最近 12 个月。</p>
</div><p>Its latest results indicate that it could keep growing faster than Alphabet over the next three years as well. The social media giant's revenue increased 16% year over year in the first quarter, 4 percentage points faster than Alphabet during the same quarter. Meta's adjusted earnings jumped 37% year over year in the first quarter to $6.43 per share, exceeding the 20% increase for Alphabet (after excluding $8 billion in unrealized gains from a nonmarketable equity investment in a private company).</p>
<div class="lb-trans"><p>其最新结果表明，未来三年它可能仍会比字母表增长更快。这家社交媒体巨头的收入在第一季度同比增长 16%，比字母表同期快了 4 个百分点。Meta 的调整后每股收益在第一季度同比跃升 37%，达到 6.43 美元，超过了字母表 20% 的增长（不包括来自一家非上市公司股权投资的 80 亿美元未实现收益）。</p>
</div><p>Meta Platforms benefited from an increase in its user base, a jump in the number of ad impressions delivered, and strong growth in the average price per ad. Specifically, the company ended the quarter with 3.43 billion daily active users across its family of apps.</p>
<div class="lb-trans"><p>Meta Platforms 受益于用户基础的增加、广告展示次数的激增以及每个广告的平均价格的强劲增长。具体而言，该公司在其应用家族中结束了本季度，日活跃用户达 34.3 亿。</p>
</div><p>Meanwhile, the integration of AI-powered ad tools helped it record a 5% increase in the number of ad impressions delivered and a 10% jump in the average price per ad. The average price per ad was up by 6% in the same quarter last year.</p>
<div class="lb-trans"><p>与此同时，AI 驱动的广告工具的整合帮助其实现了广告展示次数增加 5% 和每个广告平均价格上涨 10% 的成绩。去年同期每个广告的平均价格上涨了 6%。</p>
</div><p>CEO Mark Zuckerberg said on the company's latest earnings conference call that its AI-enabled ad tools are gaining traction among advertisers because of their ability to increase returns on ad dollars spent. The company's AI-powered content recommendation is driving an increase in engagement on its Facebook, Instagram, and Threads platforms.</p>
<div class="lb-trans"><p>首席执行官马克·扎克伯格在公司最新的财报电话会议上表示，其 AI 驱动的广告工具因能够提高广告支出的回报而在广告商中获得了关注。公司的 AI 驱动内容推荐正在推动其 Facebook、Instagram 和 Threads 平台的参与度提升。</p>
</div><p>According to Zuckerberg:</p>
<div class="lb-trans"><p>根据扎克伯格的说法：</p>
</div><blockquote>
<p>AI has already made us better at targeting and finding the audiences that will be interested in their product than many businesses are themselves, and that keeps improving. And now, AI is generating better creative options for many businesses as well. I think that this is really redefining what advertising is into an AI agent that delivers measurable business results at scale.</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>AI 已经使我们在定位和找到对其产品感兴趣的受众方面比许多企业自己做得更好，并且这一点还在不断改善。现在，AI 也为许多企业生成了更好的创意选项。我认为这实际上正在重新定义广告，将其转变为一个能够大规模交付可衡量商业成果的 AI 代理。</p>
</blockquote>
</div><p>He said he believes that advertising could contribute a bigger share to the global economy in the long run thanks to improved productivity enabled by AI. As it turns out, his company thinks that it can rake in somewhere between $460 billion to $1.4 trillion in revenue from generative AI by 2035. That's going to be a significant jump over the $2 billion to $3 billion in revenue that Meta expects to pull in from its generative AI products in 2025.</p>
<div class="lb-trans"><p>他表示，他相信广告在长期内可能会对全球经济贡献更大份额，这得益于 AI 带来的生产力提升。事实证明，他的公司认为到 2035 年可以从生成性 AI 中获得 4600 亿到 1.4 万亿美元的收入。这将是 Meta 预计在 2025 年从其生成性 AI 产品中获得的 20 亿到 30 亿美元收入的显著增长。</p>
</div><p>Analysts are expecting Meta to generate $186.5 billion in revenue in 2025, which means that there is a lot of room for growth in its top line over the next decade thanks to AI. So the company has decided to increase its investments in AI infrastructure this year. It has bumped up its 2025 capital expenditure (capex) guidance to a range of $64 billion to $72 billion, up from the earlier estimate of $60 billion to $65 billion.</p>
<div class="lb-trans"><p>分析师预计 Meta 在 2025 年将产生 1865 亿美元的收入，这意味着在未来十年内，其营收还有很大的增长空间，得益于 AI。因此，公司决定在今年增加对 AI 基础设施的投资。它将 2025 年的资本支出（capex）指导提高到 640 亿到 720 亿美元的范围，高于之前的 600 亿到 650 亿美元的估计。</p>
</div><p>Zuckerberg says that its increased capex in 2025 will go toward supporting &#34;both generative AI and core business needs.&#34; This is a smart move from a long-term perspective considering the huge end-market revenue opportunity that Meta sees in AI over the next decade.</p>
<div class="lb-trans"><p>扎克伯格表示，2025 年增加的资本支出将用于支持 “生成性 AI 和核心业务需求”。从长期来看，这是一项明智的举措，因为 Meta 在未来十年内看到了 AI 带来的巨大市场收入机会。</p>
</div><h2>Stronger earnings growth could help Meta become a bigger company than Alphabet</h2>
<div class="lb-trans"><h2>更强的盈利增长可能帮助 Meta 成为比字母表更大的公司</h2>
</div><p>Meta is the seventh-largest company in the world with a market cap of $1.5 trillion. This puts it behind Alphabet, which currently has a 33% bigger market cap right now. However, Meta can bridge that gap in the next three years by delivering a stronger jump in earnings, which is evident from the chart below.</p>
<div class="lb-trans"><p>Meta 是全球第七大公司，市值为 1.5 万亿美元。这使其落后于字母表，后者目前的市值大约大 33%。然而，Meta 可以在未来三年内通过实现更强的盈利增长来弥补这一差距，这一点从下面的图表中可以看出。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/b62c556852cd9d53c3b3c7d690367f3e.png" alt="" original-src="https://media.ycharts.com/charts/b62c556852cd9d53c3b3c7d690367f3e.png"/></p>
<p>META EPS Estimates for Current Fiscal Year, data by YCharts; EPS = earnings per share.</p>
<div class="lb-trans"><p>META 当前财政年度每股收益预估数据来源于 YCharts；EPS = 每股收益。</p>
</div><p>For comparison, Alphabet's earnings are expected to jump almost 7% next year followed by a 14% increase in 2027. Assuming Meta's earnings increase to $32.90 per share in 2027 and it trades at 28 times earnings at that time, in line with the <strong>Nasdaq-100</strong>'s earnings multiple (using the index as a proxy for tech stocks), its stock price could jump to $954. That would be a 60% increase from current levels.</p>
<div class="lb-trans"><p>作为比较，预计字母表的收益明年将增长近 7%，2027 年将增长 14%。假设 Meta 的收益在 2027 年增加到每股 32.90 美元，并且在那时以 28 倍的收益交易，符合 <strong>纳斯达克 100</strong> 的收益倍数（使用该指数作为科技股的代理），其股价可能跃升至 954 美元。这将比当前水平上涨 60%。</p>
</div><p>So, there is a good chance that Meta's solid earnings growth could translate into healthy gains on the market over the next three years. The stock is currently trading at 23 times earnings, so investors can buy it at a discount when compared to the broader index. Moreover, the faster growth in Meta's earnings could lead the market to reward it with a premium valuation, which could be enough to help this &#34;Magnificent Seven&#34; stock become a bigger company than Alphabet.</p>
<div class="lb-trans"><p>因此，Meta 稳健的盈利增长很可能在未来三年内转化为市场上的健康收益。该股票目前的市盈率为 23 倍，因此与更广泛的指数相比，投资者可以以折扣价购买。此外，Meta 盈利的更快增长可能会导致市场给予其溢价估值，这可能足以帮助这只 &#34;七大奇迹&#34; 股票成为比 Alphabet 更大的公司。</p>
</div>

Prediction: 1 Stock That Will Be Worth More Than Alphabet 3 Years From Now

- Alphabet 市值达 2 万亿美元，全球搜索引擎市场占有率高。  
- Meta 在过去三年股价上涨 181%，超越 Alphabet 的 40%。  
- Meta 预计 2025 年收入将达 1865 亿美元，未来增长潜力巨大。

预测：三年后有一只股票的价值将超过 Alphabet