<p>在过去三年中，华尔街的牛市一直牢牢掌控着市场。虽然包括人工智能（AI）的崛起和量子计算的出现等几个不可错过的趋势为整体市场提供了助力，但 “七大巨头” 才是推动市场的主要力量。</p>
<p>七大巨头 代表了华尔街七家最具影响力的公司，超过一半的公开交易股票曾达到万亿美元市值的高峰。在过去十年中，这七家行业领袖的累计回报率至少超过了标准普尔 500 指数 258% 的回报率。</p>
<p><strong>Meta Platforms</strong>（META 3.28%）是这七家公司中表现 “最差” 的，过去十年的总回报率为 539%。然而，这家社交媒体巨头在过去三年中一直在超越基准的标准普尔 500 指数，并且在发布第四季度运营结果后，成为今年截至一月底表现最佳的七大巨头股票。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg1NDE1MS9zdG9jay1zcGxpdC11cy1kb2xsYXItY29pbi1jZXJ0aWZpY2F0ZS1mb3J3YXJkLXJldmVyc2UtZ2V0dHkuanBnFnc9Mzg0MBZvcD1yZXNpemU?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg1NDE1MS9zdG9jay1zcGxpdC11cy1kb2xsYXItY29pbi1jZXJ0aWZpY2F0ZS1mb3J3YXJkLXJldmVyc2UtZ2V0dHkuanBnFnc9Mzg0MBZvcD1yZXNpemU"/></p>
<p>图片来源：Getty Images。</p>
<p>虽然 Meta 最新的运营结果突显了它作为长期投资的多个理由，但需要注意的是，该公司的董事会 错过了进一步激发零售投资者对其股票兴趣的绝佳机会。</p>
<h2>可持续的护城河和优质的资产负债表是 Meta Platforms 的奢侈品</h2>
<p>尽管人工智能是华尔街的热门话题，Meta 的基础运营部门 仍然是其社交媒体平台，包括 Facebook、WhatsApp、Instagram、Threads 和 Facebook Messenger 等。在 12 月，其应用程序家族每天吸引了平均 3.58 亿用户。</p>
<p>没有其他社交媒体驱动的公司能像 Meta 一样每天吸引如此多的人访问其平台。这使得 Meta 成为企业寻求广告的合乎逻辑的选择，并赋予其相当大的广告定价权。</p>
<p>到 2025 年，近 98% 的 2010 亿美元净销售额来自广告，该公司也与美国和全球经济的健康状况密切相关。广告是周期性的，经济扩张期通常持续时间显著长于衰退期。随着时间的推移，Meta 的核心业务应该会扩展。</p>
<p>但正如大多数投资者可能意识到的那样，首席执行官马克·扎克伯格在投资 人工智能 的演变上毫不吝啬。虽然这些投资中的一些不会立即为公司带来收益，但 Meta 已经从将生成性 AI 解决方案融入其社交媒体广告平台中受益。让企业能够访问生成性 AI 解决方案，使他们能够 为个别用户创建静态和视频消息。这可以提高点击率并增强 Meta 的广告定价权。</p>
<p>Meta Platforms 为其投资者带来的另一个优势是 现金充裕的资产负债表。扎克伯格的公司在 2025 年结束时拥有 816 亿美元的现金、现金等价物和可交易证券。它还从经营活动中产生了 1158 亿美元的净现金。Meta 有能力在不期待立即回报的情况下，积极投资于改变游戏规则的技术和增长计划。</p>
<p>Meta 的可持续社交媒体护城河和优质资产负债表 使其成为顶级投资。尽管该公司持续实现两位数的销售增长，扎克伯格和 Meta Platforms 的其他董事会成员却错过了一个必然的机会。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg1NDE1MS9pbnZlc3Rvci1zdG9jay1xdW90ZS10cmFkaW5nLXNtYXJ0cGhvbmUtbGFwdG9wLXJvYmluaG9vZC1pbnZlc3QtZ2V0dHkuanBnFnc9Mzg0MBZvcD1yZXNpemU?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg1NDE1MS9pbnZlc3Rvci1zdG9jay1xdW90ZS10cmFkaW5nLXNtYXJ0cGhvbmUtbGFwdG9wLXJvYmluaG9vZC1pbnZlc3QtZ2V0dHkuanBnFnc9Mzg0MBZvcD1yZXNpemU"/></p>
<p>图片来源：Getty Images。</p>
<h2>马克·扎克伯格和 Meta 的董事会刚刚错过了一个显而易见的机会</h2>
<p>自 2012 年 5 月中旬 Meta Platforms 首次公开募股以来，其股价已上涨近 1800%。虽然这在七大巨头股票中算是正常，但 Meta 却 独特地成为唯一一家从未进行过股票拆分的公司。</p>
<p>股票拆分是一种事件，使公开交易的公司能够以相同的幅度表面上调整其股价和流通股数量。这些变化是表面的，因为它们不会改变公司的市值或其基础运营表现。在 Meta 的情况下，似乎早该进行一次向前的股票拆分——一种降低其股价并增加其流通股数量的拆分。</p>
<p>通常，需要两个标准来促进前分拆。第一个也是最为人所知的标准是名义上的高股价。零售投资者如果无法通过经纪商购买零股，可能无法开立新头寸或增加现有持仓，如果股价上涨过高。Meta 在一月底的股价为 716.50 美元，这无疑已经进入了对无法购买零股的普通投资者来说的限制区域。</p>
<p>另一个必要因素是足够大的零售投资者持股基础。如果只有很小比例的流通股由非机构投资者持有，董事会通常没有动力推动股票分拆。在 Meta 的案例中，29.3% 的流通股由非机构投资者持有——也就是说，足以激励进行前分拆。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL01FVEEucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Meta Platforms 股票报价" width="80" height="80" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL01FVEEucG5nJnc9MTI4"/></p>
<h2>NASDAQ: META</h2>
<p>Meta Platforms</p>
<p>今日变动</p>
<p>(-3.28%) $-22.71</p>
<p>当前价格</p>
<p>$668.99</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$1.7 万亿</p>
<p>日内区间</p>
<p>$667.46 - $688.83</p>
<p>52 周区间</p>
<p>$479.80 - $796.25</p>
<p>成交量</p>
<p>1700 万</p>
<p>平均成交量</p>
<p>1800 万</p>
<p>毛利率</p>
<p>82.00%</p>
<p>股息收益率</p>
<p>0.31%</p>
<p>尽管 Meta Platforms 的运营结果继续自我证明，但不宣布首次股票分拆是一个错失的机会，原因有两个。</p>
<p>首先，股市历史上价格昂贵。我们在 2026 年进入了自 1871 年开始以来第二昂贵的市场。如果 “七大奇迹” 的成员想要进一步上涨，他们将需要零售投资者的支持，后者在华尔街的角色逐渐增大，占总股票交易量的比例。如果 Meta 不让其股票对普通投资者更具可及性，推动其市值超过 2 万亿美元可能会面临挑战（至少在短期内）。</p>
<p>另一个股票分拆完全合理的原因与马克·扎克伯格希望在人工智能上花费一小笔巨款的愿望有关。在 2026 年，公司计划 在资本支出上花费 1150 亿到 1350 亿美元，其中大部分将支持其 Meta 超级智能实验室和核心业务。</p>
<p>使 Meta 的股票在名义上对普通投资者更具可及性的股票分拆，可能使他们能够忽视扎克伯格的消费狂潮。</p>
<p>虽然我完全预期 Meta 的股票在长期内会走高，但扎克伯格和他的董事会似乎错失了一个将其公司股票置于华尔街舞台中心的黄金机会。</p>

2 倍做多 META ETF - GraniteShares

2 倍做多 Meta ETF - Direxion

<p>尽管 Meta Platforms 的市值接近 2 万亿美元，但未能通过实施股票拆分来抓住一个重要机会。该公司表现强劲，过去十年回报率达到 539%，并且在今年的 “七大巨头” 股票中表现最佳。Meta 的社交媒体平台每天吸引 3.58 亿用户，带来了可观的广告收入。然而，其 716.50 美元的高股价可能限制散户投资者的参与，而散户投资者仅持有 29.3% 的股份，董事会拒绝进行股票拆分的决定可能会阻碍更广泛的投资兴趣</p>

<p>Over the last three years, the bulls have been in firm control on Wall Street. While several can't-miss trends have provided a boost for the broader market, including the rise of artificial intelligence (AI) and the advent of quantum computing, it's the &#34;Magnificent Seven&#34; that have done most of the heavy lifting.</p>
<div class="lb-trans"><p>在过去三年中，华尔街的牛市一直牢牢掌控着市场。虽然包括人工智能（AI）的崛起和量子计算的出现等几个不可错过的趋势为整体市场提供了助力，但 “七大巨头” 才是推动市场的主要力量。</p>
</div><p>The Magnificent Seven represent seven of the most influential companies on Wall Street and account for more than half of all publicly traded stocks to have ever reached the trillion-dollar market cap plateau. Over the trailing decade, all seven of these industry leaders have, at a minimum, more than doubled the 258% cumulative return of the <strong>S&amp;P 500</strong>.</p>
<div class="lb-trans"><p>七大巨头 代表了华尔街七家最具影响力的公司，超过一半的公开交易股票曾达到万亿美元市值的高峰。在过去十年中，这七家行业领袖的累计回报率至少超过了标准普尔 500 指数 258% 的回报率。</p>
</div><p><strong>Meta Platforms</strong>( META 3.28%) is the &#34;worst&#34; performer of the bunch, with an aggregate trailing 10-year return of 539%. However, this social media titan has been crushing the benchmark S&amp;P 500 over the last three years and, following the release of its fourth-quarter operating results, is the top-performing Magnificent Seven stock this year, through the end of January.</p>
<div class="lb-trans"><p><strong>Meta Platforms</strong>（META 3.28%）是这七家公司中表现 “最差” 的，过去十年的总回报率为 539%。然而，这家社交媒体巨头在过去三年中一直在超越基准的标准普尔 500 指数，并且在发布第四季度运营结果后，成为今年截至一月底表现最佳的七大巨头股票。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NTQxNTEvc3RvY2stc3BsaXQtdXMtZG9sbGFyLWNvaW4tY2VydGlmaWNhdGUtZm9yd2FyZC1yZXZlcnNlLWdldHR5LmpwZyZ3PTM4NDA" alt="A U.S. dollar coin split in half that's been placed on a paper stock certificate for shares of a public company." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F854151%2Fstock-split-us-dollar-coin-certificate-forward-reverse-getty.jpg&amp;w=3840&amp;op=resize"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><p>While Meta's latest operating results highlight several reasons why it makes for a phenomenal long-term investment, it should be noted that the company's board missed a golden opportunity to further ignite retail investor interest in its stock.</p>
<div class="lb-trans"><p>虽然 Meta 最新的运营结果突显了它作为长期投资的多个理由，但需要注意的是，该公司的董事会 错过了进一步激发零售投资者对其股票兴趣的绝佳机会。</p>
</div><h2>A sustainable moat and pristine balance sheet are luxuries for Meta Platforms</h2>
<div class="lb-trans"><h2>可持续的护城河和优质的资产负债表是 Meta Platforms 的奢侈品</h2>
</div><p>Although AI is the talk of Wall Street, Meta's foundational operating segment continues to be its social media platforms, including Facebook, WhatsApp, Instagram, Threads, and Facebook Messenger, among others. In December, its family of apps attracted an average of 3.58 billion users daily.</p>
<div class="lb-trans"><p>尽管人工智能是华尔街的热门话题，Meta 的基础运营部门 仍然是其社交媒体平台，包括 Facebook、WhatsApp、Instagram、Threads 和 Facebook Messenger 等。在 12 月，其应用程序家族每天吸引了平均 3.58 亿用户。</p>
</div><p>No other social media-driven company comes close to luring as many people to its platforms daily as Meta. This makes it a logical choice for businesses looking to advertise and affords Meta a substantial degree of ad-pricing power.</p>
<div class="lb-trans"><p>没有其他社交媒体驱动的公司能像 Meta 一样每天吸引如此多的人访问其平台。这使得 Meta 成为企业寻求广告的合乎逻辑的选择，并赋予其相当大的广告定价权。</p>
</div><p>With nearly 98% of its $201 billion in net sales coming from advertising in 2025, the company is also intricately tied to the health of the U.S. and global economy. Advertising is cyclical, and periods of economic expansion last significantly longer than recessions. Over time, Meta's core business should expand.</p>
<div class="lb-trans"><p>到 2025 年，近 98% 的 2010 亿美元净销售额来自广告，该公司也与美国和全球经济的健康状况密切相关。广告是周期性的，经济扩张期通常持续时间显著长于衰退期。随着时间的推移，Meta 的核心业务应该会扩展。</p>
</div><p>But as most investors are likely aware, CEO Mark Zuckerberg is sparing no expense when it comes to investing in the evolution of artificial intelligence. While some of these investments aren't going to bear immediate fruit for the company, Meta is already enjoying benefits from incorporating generative AI solutions into its social media advertising platforms. Giving businesses access to Gen-AI solutions enables them to create static and video messages for individual users. This can improve click-through rates and enhance Meta's ad-pricing power.</p>
<div class="lb-trans"><p>但正如大多数投资者可能意识到的那样，首席执行官马克·扎克伯格在投资 人工智能 的演变上毫不吝啬。虽然这些投资中的一些不会立即为公司带来收益，但 Meta 已经从将生成性 AI 解决方案融入其社交媒体广告平台中受益。让企业能够访问生成性 AI 解决方案，使他们能够 为个别用户创建静态和视频消息。这可以提高点击率并增强 Meta 的广告定价权。</p>
</div><p>Something else Meta Platforms brings to the table for its investors is a cash-rich balance sheet. Zuckerberg's company closed out 2025 with $81.6 billion in cash, cash equivalents, and marketable securities. It also generated $115.8 billion in net cash from operating activities. Meta has the luxury of aggressively investing in game-changing technologies and growth initiatives without expecting an immediate return.</p>
<div class="lb-trans"><p>Meta Platforms 为其投资者带来的另一个优势是 现金充裕的资产负债表。扎克伯格的公司在 2025 年结束时拥有 816 亿美元的现金、现金等价物和可交易证券。它还从经营活动中产生了 1158 亿美元的净现金。Meta 有能力在不期待立即回报的情况下，积极投资于改变游戏规则的技术和增长计划。</p>
</div><p>Meta's sustainable social media moat and its pristine balance sheet have made it a top-tier investment. But in spite of the company's consistent double-digit sales growth, Zuckerberg and Meta Platforms' other board members missed a surefire opportunity.</p>
<div class="lb-trans"><p>Meta 的可持续社交媒体护城河和优质资产负债表 使其成为顶级投资。尽管该公司持续实现两位数的销售增长，扎克伯格和 Meta Platforms 的其他董事会成员却错过了一个必然的机会。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NTQxNTEvaW52ZXN0b3Itc3RvY2stcXVvdGUtdHJhZGluZy1zbWFydHBob25lLWxhcHRvcC1yb2Jpbmhvb2QtaW52ZXN0LWdldHR5LmpwZyZ3PTM4NDA" alt="A retail investor looking at a rapidly rising stock chart on their smartphone. " original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F854151%2Finvestor-stock-quote-trading-smartphone-laptop-robinhood-invest-getty.jpg&amp;w=3840&amp;op=resize"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Mark Zuckerberg and Meta's board just missed a no-brainer opportunity</h2>
<div class="lb-trans"><h2>马克·扎克伯格和 Meta 的董事会刚刚错过了一个显而易见的机会</h2>
</div><p>Since Meta Platforms' initial public offering in mid-May 2012, its shares have climbed by almost 1,800%. While this is somewhat par for the course for Magnificent Seven stocks, Meta holds the unique distinction of being the only member to have never completed a stock split.</p>
<div class="lb-trans"><p>自 2012 年 5 月中旬 Meta Platforms 首次公开募股以来，其股价已上涨近 1800%。虽然这在七大巨头股票中算是正常，但 Meta 却 独特地成为唯一一家从未进行过股票拆分的公司。</p>
</div><p>A stock split is an event that enables a publicly traded company to cosmetically adjust its share price and outstanding share count by the same magnitude. These changes are superficial in the sense that they don't alter a company's market cap or its underlying operating performance. In Meta's case, it appears to be long overdue for a forward stock split -- one that lowers its share price and increases its outstanding share count.</p>
<div class="lb-trans"><p>股票拆分是一种事件，使公开交易的公司能够以相同的幅度表面上调整其股价和流通股数量。这些变化是表面的，因为它们不会改变公司的市值或其基础运营表现。在 Meta 的情况下，似乎早该进行一次向前的股票拆分——一种降低其股价并增加其流通股数量的拆分。</p>
</div><p>Typically, two criteria are needed to facilitate a forward split. The first and most well-known of the two is a nominally high share price. Retail investors who can't purchase fractional shares through their broker may not be able to open a position or add to an existing holding if the share price rises too high. Meta ended January at $716.50 per share, which has arguably entered the territory of being restrictive for everyday investors who can't buy fractional shares.</p>
<div class="lb-trans"><p>通常，需要两个标准来促进前分拆。第一个也是最为人所知的标准是名义上的高股价。零售投资者如果无法通过经纪商购买零股，可能无法开立新头寸或增加现有持仓，如果股价上涨过高。Meta 在一月底的股价为 716.50 美元，这无疑已经进入了对无法购买零股的普通投资者来说的限制区域。</p>
</div><p>The other necessary factor is a large enough base of retail investor ownership. If only a small percentage of outstanding shares are held by non-institutional investors, there's rarely an incentive for a board of directors to push for a stock split. In Meta's case, 29.3% of its outstanding shares are held by non-institutional investors -- i.e., more than enough to incentivize a forward split.</p>
<div class="lb-trans"><p>另一个必要因素是足够大的零售投资者持股基础。如果只有很小比例的流通股由非机构投资者持有，董事会通常没有动力推动股票分拆。在 Meta 的案例中，29.3% 的流通股由非机构投资者持有——也就是说，足以激励进行前分拆。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展开</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL01FVEEucG5nJnc9MTI4" alt="Meta Platforms Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FMETA.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: META</h2>
<div class="lb-trans"><h2>NASDAQ: META</h2>
</div><p>Meta Platforms</p>
<div class="lb-trans"><p>Meta Platforms</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(-3.28%) $-22.71</p>
<div class="lb-trans"><p>(-3.28%) $-22.71</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$668.99</p>
<div class="lb-trans"><p>$668.99</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>关键数据点</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$1.7T</p>
<div class="lb-trans"><p>$1.7 万亿</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$667.46 - $688.83</p>
<div class="lb-trans"><p>$667.46 - $688.83</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$479.80 - $796.25</p>
<div class="lb-trans"><p>$479.80 - $796.25</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>17M</p>
<div class="lb-trans"><p>1700 万</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>18M</p>
<div class="lb-trans"><p>1800 万</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>82.00%</p>
<div class="lb-trans"><p>82.00%</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>0.31%</p>
<div class="lb-trans"><p>0.31%</p>
</div><p>Although Meta Platforms' operating results continue to speak for themselves, not declaring a first-ever stock split is a missed opportunity for two reasons.</p>
<div class="lb-trans"><p>尽管 Meta Platforms 的运营结果继续自我证明，但不宣布首次股票分拆是一个错失的机会，原因有两个。</p>
</div><p>To begin with, the stock market is historically pricey. We entered 2026 with the second-priciest market, dating back to the start of 1871. If the members of the Magnificent Seven are to push even higher, they're going to need the assistance of retail investors, who've progressively taken on a bigger role on Wall Street, as a percentage of total equities trading volume. If Meta doesn't make its shares more accessible to everyday investors, pushing its market cap past $2 trillion could prove challenging (at least in the short run).</p>
<div class="lb-trans"><p>首先，股市历史上价格昂贵。我们在 2026 年进入了自 1871 年开始以来第二昂贵的市场。如果 “七大奇迹” 的成员想要进一步上涨，他们将需要零售投资者的支持，后者在华尔街的角色逐渐增大，占总股票交易量的比例。如果 Meta 不让其股票对普通投资者更具可及性，推动其市值超过 2 万亿美元可能会面临挑战（至少在短期内）。</p>
</div><p>The other reason a stock split would make perfect sense has to do with Mark Zuckerberg's desire to spend nothing short of a small fortune on AI. In 2026, the company intends to spend between $115 billion and $135 billion on capital expenditures, much of which will support its Meta Superintelligence Labs and core operations.</p>
<div class="lb-trans"><p>另一个股票分拆完全合理的原因与马克·扎克伯格希望在人工智能上花费一小笔巨款的愿望有关。在 2026 年，公司计划 在资本支出上花费 1150 亿到 1350 亿美元，其中大部分将支持其 Meta 超级智能实验室和核心业务。</p>
</div><p>A stock split that makes shares of Meta more nominally accessible to everyday investors may enable them to look past Zuckerberg's spending spree.</p>
<div class="lb-trans"><p>使 Meta 的股票在名义上对普通投资者更具可及性的股票分拆，可能使他们能够忽视扎克伯格的消费狂潮。</p>
</div><p>While I fully expect Meta stock to head higher over the long term, Zuckerberg and his board look to have whiffed on a golden opportunity to put their company's stock at the center of Wall Street's stage.</p>
<div class="lb-trans"><p>虽然我完全预期 Meta 的股票在长期内会走高，但扎克伯格和他的董事会似乎错失了一个将其公司股票置于华尔街舞台中心的黄金机会。</p>
</div>

Despite Nearing a $2 Trillion Market Cap, Meta Platforms Just Missed a Golden Opportunity

- Meta Platforms 是 “七大巨头” 中表现最强的公司，十年回报达 539%。  
- 公司现金充足，吸引大量广告客户，并具备强大的市场影响力。  
- 不进行股票拆分错失重大机会，可能影响普通投资者的参与。

尽管市值接近 2 万亿美元，Meta Platforms 却刚刚错失了一个绝佳的机会