<p>人工智能（AI）股票无疑是过去两年股市上涨的最大推动力之一。投资者纷纷涌入这一行业的公司——从 AI 芯片设计商到云基础设施建设者。今年年初，这一势头有所暂停，因为投资者将注意力转向经济形势以及唐纳德·特朗普总统的进口关税可能带来的影响。</p>
<p>但好消息是，AI 领域公司的情况开始再次好转。特朗普最近与中国达成了一项低于预期的关税协议，这为市场带来了两方面的乐观情绪。首先，贸易紧张局势可能不会将经济推入衰退，其次，任何对电子产品进口的潜在关税可能会设定在可控水平。</p>
<p>因此，AI 股票已经开始从最近几周的低点反弹。但它们仍然处于有趣的价格水平，使得现在是投资的好时机。</p>
<p>华尔街对 <strong>Meta Platforms</strong>（META -0.22%）和 <strong>Microsoft</strong>（MSFT -1.08%）在未来几个月可能成为股市赢家持乐观态度。不过，哪一个更值得购买呢？让我们来看看。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTkwMjcvZ2V0dHlpbWFnZXMtOTA0ODgwMTcwLmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTkwMjcvZ2V0dHlpbWFnZXMtOTA0ODgwMTcwLmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>支持 Meta Platforms 的理由</h2>
<p>你可能主要将 Meta 与其社交媒体平台联系在一起。毕竟，该公司拥有该领域最知名的名称，从 Facebook 和 Messenger 到 WhatsApp 和 Instagram——全球有超过 34 亿人每天至少使用其中一个应用。事实上，这些应用是 Meta 的收入来源，因为广告商在这些应用上花费，导致 Meta 每季度产生数十亿美元的收入。</p>
<p>但 Meta 并不仅仅专注于社交媒体。该公司还致力于在 AI 领域建立其存在，这一举措应有助于增强其 AI 平台并推动更多收入——并可能为新产品和服务开辟道路。</p>
<p>Meta 创建了大型语言模型 Llama，这是一个支持其 AI 产品的工具，如 Meta AI，全球使用最广泛的 AI 助手。该公司已将 Llama 开源，以便其他人可以参与其开发——这一举措可能有助于 Meta 的项目更快成长，并使公司在 AI 领域占据领导地位。</p>
<p>值得注意的是，Meta 拥有实现这一目标的资源，因为它建立了强大的盈利记录，甚至向投资者支付股息以分享财富。这意味着它可以承诺实施计划，例如其目标是在今年单独花费高达 720 亿美元用于基础设施。</p>
<h2>支持 Microsoft 的理由</h2>
<p>如你所知，Microsoft 是一家软件巨头，可能在你日常使用的计算机工作中提供了大部分支持。这帮助 Microsoft 随着时间的推移增加了收益，并成为全球最有价值的公司，市值达到 3.4 万亿美元。</p>
<p>但 Microsoft 也是 AI 领域的早期赢家之一，得益于其在运营中使用 AI。该公司在个人和企业的软件中使用 AI 以提高性能和分析，投资了 ChatGPT 创始人 OpenAI 作为关键合作伙伴，Microsoft 的云业务为客户提供 AI 工具和服务。</p>
<p>“从 AI 基础设施和平台到应用程序，我们正在整个技术栈中创新，以满足客户的需求，” 首席执行官萨提亚·纳德拉在最近的财报中表示。</p>
<p>Microsoft 已经从其 AI 投资中受益。今年 1 月，该公司表示其 AI 业务的年收入跑率已超过 130 亿美元，同比增长 175%。因此，Microsoft 凭借 AI 实现了显著增长，考虑到 AI 热潮还有很长的路要走，这位领导者可能会继续沿着这一积极的道路前进。</p>
<p>同样重要的是，Microsoft 是全球最大的云服务提供商之一，使得这些客户在选择 AI 项目时更容易选择 Microsoft。</p>
<h2>你应该购买 Meta 还是 Microsoft？</h2>
<p>华尔街分析师预测，在未来 12 个月内，这两只顶级 AI 股票的涨幅约为 11%，从 5 月 20 日的水平来看。如前所述，显然它们都有能力从 AI 热潮中受益。因此，这是一个困难的选择，因为 Meta 和 Microsoft 都是稳健且盈利的公司，并且在这一热门技术发展中处于良好位置。</p>
<p>让我们看看估值来帮助做出决定。在这里我们可以看到，可能有一只股票现在代表了更便宜的购买。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/77964926167fdb31822a74a0cf1d540a.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/77964926167fdb31822a74a0cf1d540a.png"/></p>
<p>META 市盈率（前瞻性）数据来源于 YCharts</p>
<p>这两只股票都已从几周前的低点反弹，但 Microsoft 的价格已经比年初时更高——而 Meta 则没有。</p>
<p>虽然这两只股票都是优秀的 AI 公司，但如果我只能选择一只，我今天会选择 Meta，因为考虑到其长期的 AI 前景，它仍然看起来便宜。</p>

微软

<p>随着贸易紧张局势的缓解，人工智能股票反弹，华尔街对 Meta Platforms 和微软作为潜在赢家持乐观态度。Meta 以其社交媒体平台而闻名，正在大力投资人工智能，包括其开源的 Llama 模型。微软作为软件巨头，已将人工智能整合到其运营中，并投资于 OpenAI，报告了其人工智能业务的显著增长。分析师预测这两只股票在未来一年将各自上涨约 11%，这使得在它们之间做出选择变得具有挑战性，尽管估值可能表明其中一只股票更便宜</p>

<p>Artificial intelligence (AI) stocks were without argument one of the biggest drivers of stock market gains over the past two years. Investors piled into companies across the industry -- from designers of AI chips to builders of cloud infrastructure. This momentum paused in the early part of this year as investors turned their attention to the economic situation -- and the potential impact of President Donald Trump's import tariffs.</p>
<div class="lb-trans"><p>人工智能（AI）股票无疑是过去两年股市上涨的最大推动力之一。投资者纷纷涌入这一行业的公司——从 AI 芯片设计商到云基础设施建设者。今年年初，这一势头有所暂停，因为投资者将注意力转向经济形势以及唐纳德·特朗普总统的进口关税可能带来的影响。</p>
</div><p>But the good news is, the situation is starting to brighten once again for companies in the AI space. Trump recently struck a deal with China at a tariff level that was lower than expected, which has offered the market optimism on two points. First, trade tensions may not push the economy into a recession, and second, any potential tariffs on electronics imports likely will be set at a manageable level.</p>
<div class="lb-trans"><p>但好消息是，AI 领域公司的情况开始再次好转。特朗普最近与中国达成了一项低于预期的关税协议，这为市场带来了两方面的乐观情绪。首先，贸易紧张局势可能不会将经济推入衰退，其次，任何对电子产品进口的潜在关税可能会设定在可控水平。</p>
</div><p>As a result, AI stocks have started to rebound from lows reached in recent weeks. But they still remain at interesting price levels, making now a great time to get in on them.</p>
<div class="lb-trans"><p>因此，AI 股票已经开始从最近几周的低点反弹。但它们仍然处于有趣的价格水平，使得现在是投资的好时机。</p>
</div><p>Wall Street is optimistic that both <strong>Meta Platforms</strong>(META -0.22%) and <strong>Microsoft</strong>(MSFT -1.08%) could be stock market winners in the months to come. Which one makes the better buy, though? Let's find out.</p>
<div class="lb-trans"><p>华尔街对 <strong>Meta Platforms</strong>（META -0.22%）和 <strong>Microsoft</strong>（MSFT -1.08%）在未来几个月可能成为股市赢家持乐观态度。不过，哪一个更值得购买呢？让我们来看看。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTkwMjcvZ2V0dHlpbWFnZXMtOTA0ODgwMTcwLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F819027%2Fgettyimages-904880170.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>The case for Meta Platforms</h2>
<div class="lb-trans"><h2>支持 Meta Platforms 的理由</h2>
</div><p>You may mainly associate Meta with its social media platforms. After all, the company owns the most recognized names in the space, from Facebook and Messenger to WhatsApp and Instagram -- and more than 3.4 billion people globally use at least one of these daily. In fact, these apps are Meta's ticket to revenue, as advertisers spend to reach us across the apps, resulting in billions of dollars in quarterly revenue for Meta.</p>
<div class="lb-trans"><p>你可能主要将 Meta 与其社交媒体平台联系在一起。毕竟，该公司拥有该领域最知名的名称，从 Facebook 和 Messenger 到 WhatsApp 和 Instagram——全球有超过 34 亿人每天至少使用其中一个应用。事实上，这些应用是 Meta 的收入来源，因为广告商在这些应用上花费，导致 Meta 每季度产生数十亿美元的收入。</p>
</div><p>But Meta doesn't focus only on social media. The company also has committed to building its presence in AI, a move that should help strengthen its AI platform and drive more revenue there -- and potentially open up the route to new products and services.</p>
<div class="lb-trans"><p>但 Meta 并不仅仅专注于社交媒体。该公司还致力于在 AI 领域建立其存在，这一举措应有助于增强其 AI 平台并推动更多收入——并可能为新产品和服务开辟道路。</p>
</div><p>Meta has created large language model Llama, a tool that powers its AI offerings such as Meta AI, the world's most-used AI assistant. The company has made Llama open source, so that others can contribute to its development -- a move that could help Meta's program grow more quickly and set the company up for leadership in AI.</p>
<div class="lb-trans"><p>Meta 创建了大型语言模型 Llama，这是一个支持其 AI 产品的工具，如 Meta AI，全球使用最广泛的 AI 助手。该公司已将 Llama 开源，以便其他人可以参与其开发——这一举措可能有助于 Meta 的项目更快成长，并使公司在 AI 领域占据领导地位。</p>
</div><p>It's important to note that Meta has the resources to do this, as it's built a strong earnings track record, and even pays a dividend to share the wealth with investors. This means it can commit to plans, such as its goal to spend as much as $72 billion on infrastructure this year alone.</p>
<div class="lb-trans"><p>值得注意的是，Meta 拥有实现这一目标的资源，因为它建立了强大的盈利记录，甚至向投资者支付股息以分享财富。这意味着它可以承诺实施计划，例如其目标是在今年单独花费高达 720 亿美元用于基础设施。</p>
</div><h2>The case for Microsoft</h2>
<div class="lb-trans"><h2>支持 Microsoft 的理由</h2>
</div><p>As you probably know, Microsoft is a software giant, most likely powering much of the work you do on your computer on a daily basis. This has helped Microsoft increase earnings over time and become the world's most valuable company, with a market value of $3.4 trillion.</p>
<div class="lb-trans"><p>如你所知，Microsoft 是一家软件巨头，可能在你日常使用的计算机工作中提供了大部分支持。这帮助 Microsoft 随着时间的推移增加了收益，并成为全球最有价值的公司，市值达到 3.4 万亿美元。</p>
</div><p>But Microsoft also has been one of the early winners in the AI space thanks to its use of AI across its operations. The company uses AI in its software for individuals and businesses to improve performance and analytics, it's invested in ChatGPT founder OpenAI as a key partner, and Microsoft's cloud business offers AI tools and services to customers.</p>
<div class="lb-trans"><p>但 Microsoft 也是 AI 领域的早期赢家之一，得益于其在运营中使用 AI。该公司在个人和企业的软件中使用 AI 以提高性能和分析，投资了 ChatGPT 创始人 OpenAI 作为关键合作伙伴，Microsoft 的云业务为客户提供 AI 工具和服务。</p>
</div><p>&#34;From AI infra and platforms to apps, we are innovating across the stack to deliver for our customers,&#34; CEO Satya Nadella said in the recent earnings report.</p>
<div class="lb-trans"><p>“从 AI 基础设施和平台到应用程序，我们正在整个技术栈中创新，以满足客户的需求，” 首席执行官萨提亚·纳德拉在最近的财报中表示。</p>
</div><p>Microsoft is already benefiting from its AI investment. In January, the company said its AI business had surpassed an annual revenue run rate of $13 billion, representing a 175% year-over-year gain. So, Microsoft has been generating significant growth thanks to AI, and considering the AI boom has much farther to go, this leader could continue along this positive path.</p>
<div class="lb-trans"><p>Microsoft 已经从其 AI 投资中受益。今年 1 月，该公司表示其 AI 业务的年收入跑率已超过 130 亿美元，同比增长 175%。因此，Microsoft 凭借 AI 实现了显著增长，考虑到 AI 热潮还有很长的路要走，这位领导者可能会继续沿着这一积极的道路前进。</p>
</div><p>It's also important to note that Microsoft is one of the world's biggest cloud providers, making it easy for these customers to choose Microsoft for their AI projects.</p>
<div class="lb-trans"><p>同样重要的是，Microsoft 是全球最大的云服务提供商之一，使得这些客户在选择 AI 项目时更容易选择 Microsoft。</p>
</div><h2>Should you buy Meta or Microsoft?</h2>
<div class="lb-trans"><h2>你应该购买 Meta 还是 Microsoft？</h2>
</div><p>Wall Street analysts predict about 11% gains in the coming 12 months for each of these top AI stocks from their levels as of May 20. And, as mentioned, it's clear they both have what it takes to benefit from the AI boom. So this is a difficult choice, as both Meta and Microsoft are solid, profitable companies, and they are well positioned to gain as this hot technology advances.</p>
<div class="lb-trans"><p>华尔街分析师预测，在未来 12 个月内，这两只顶级 AI 股票的涨幅约为 11%，从 5 月 20 日的水平来看。如前所述，显然它们都有能力从 AI 热潮中受益。因此，这是一个困难的选择，因为 Meta 和 Microsoft 都是稳健且盈利的公司，并且在这一热门技术发展中处于良好位置。</p>
</div><p>Let's look to valuation for some help. And here we can see that one may represent a cheaper buy right now.</p>
<div class="lb-trans"><p>让我们看看估值来帮助做出决定。在这里我们可以看到，可能有一只股票现在代表了更便宜的购买。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/77964926167fdb31822a74a0cf1d540a.png" alt="" original-src="https://media.ycharts.com/charts/77964926167fdb31822a74a0cf1d540a.png"/></p>
<p>META PE Ratio (Forward) data by YCharts</p>
<div class="lb-trans"><p>META 市盈率（前瞻性）数据来源于 YCharts</p>
</div><p>Both stocks have recovered from lows reached a few weeks ago, but Microsoft already has become more expensive than it was earlier in the year -- Meta hasn't.</p>
<div class="lb-trans"><p>这两只股票都已从几周前的低点反弹，但 Microsoft 的价格已经比年初时更高——而 Meta 则没有。</p>
</div><p>While both stocks are great AI companies to own, if I could only choose one, I would go for Meta today, as it still looks cheap, considering its long-term AI prospects.</p>
<div class="lb-trans"><p>虽然这两只股票都是优秀的 AI 公司，但如果我只能选择一只，我今天会选择 Meta，因为考虑到其长期的 AI 前景，它仍然看起来便宜。</p>
</div>

Better Wall Street AI Favorite to Buy Now: Meta Platforms vs. Microsoft

- 人工智能股票在过去两年推动了股市上涨。  
- 特朗普与中国达成低于预期的关税协议，市场乐观情绪回升。  
- 分析师预测 Meta 和微软未来 12 个月各自将上涨约 11%。

华尔街更青睐的 AI 投资对象：Meta Platforms 与微软