<p>关于人工智能的讨论大多集中在其对工作场所和数字经济的影响上。围绕就业的问题仍未得到解决，而所谓的 “软件末日” 反映了软件行业在快速变化的动态中所面临的适应挑战。然而，人工智能并不仅限于工作场所。就像人类智慧本身一样，它的影响可能会扩展到日常生活的几乎每个部分。</p>
<h3>在 TipRanks 上享受 55% 的折扣</h3>
<ul>
<li>解锁对冲基金级别的数据和强大的投资工具，以做出更聪明、更精准的决策</li>
<li>发现表现优异的股票投资理念，并升级到市场领袖的投资组合，使用智能投资者精选</li>
</ul>
<p>除了释放消费者的闲暇时间，人工智能——尤其是生成式人工智能——承诺将提升娱乐内容提供商的生产力和创造力。更高的生产力、较低的成本以及消费者拥有更多的闲暇时间可能会对娱乐行业产生变革性的影响。</p>
<p>摩根士丹利分析师肖恩·迪夫利关注媒体和娱乐行业，他一直在观察人工智能作为休闲产业的影响。</p>
<p>“美国的休闲时间在过去 20 年里保持相对稳定，约为每天 4-5 小时（其中电视占据了大约一半的 ‘闲暇时间’）。人工智能有潜力在未来 3-5 年内每天增加 30-60 分钟的额外闲暇时间，想象一个我们只需每周工作 3-4 天的世界并不是疯狂的。如今，你的全自驾汽车可以在你查看电子邮件或观看 Netflix 时将你送到工作地点，生产力工具使你在完成任务时更加高效，未来机器人可能会帮你做家务。随着闲暇时间的增加，当大多数日常任务被自动化时，娱乐可能是最后一个坚守的领域，” 迪夫利表示。</p>
<p>分析师进一步推测，并挑选出两只娱乐股票供投资者在繁荣来临之前购买。我们打开了 TipRanks 数据库，以了解华尔街对这些摩根士丹利推荐的看法；以下是详细信息，以及迪夫利对他所选股票的评论。</p>
<p><strong>Liberty Formula One (FWONK)</strong></p>
<p>我们在这里关注的第一只娱乐股票是 Liberty Formula One Group，它是更大 Liberty Media Corporation 的赛车部门。Liberty Media 通过两个上市子公司运营，而 Formula One 被悄然描述为 ‘赛车运动的巅峰’。组成 Formula One Group 的赛车部门负责国际汽车联合会（FIA，负责汽车比赛的体育部门）举办的 Formula One 世界锦标赛。</p>
<p>Formula One Group 主要有两个资产。Formula 1 是全球领先且最激动人心的赛车运动之一，目前正处于其连续第 76 个赛季的锦标赛中。该公司的另一个主要资产是 MotoGP，全球顶级摩托车赛事。两个赛事合计在全球举办 46 场比赛；Formula 1 比赛在 20 多个国家安排，MotoGP 比赛在 18 个国家举行。我们应该注意到，Liberty Media 去年刚收购了 MotoGP，将这一受欢迎的摩托车赛事名称纳入其赛车投资组合。</p>
<p>该公司通过多个渠道产生收入，包括比赛推广费、赞助和合作协议、媒体版权、款待套餐以及与比赛运营相关的货运和物流服务。</p>
<p>FWONK 的股价今年已下跌超过 10%，投资者正在权衡 MotoGP 收购的财务影响，并质疑公司在交易后是否能够继续满足盈利预期。此外，中东的地缘政治紧张局势在巴林和沙特阿拉伯的重大比赛被取消后增加了另一层不确定性。</p>
<p>该公司定于周四发布第一季度业绩。在此之前，回顾该公司第四季度的表现以更好地理解其当前定位是值得的。在 2025 年第四季度，Formula One Group 报告收入为 16.1 亿美元，同比增长超过 37%，超出预期约 5870 万美元。该公司年末现金和流动资产略超过 10 亿美元，总债务为 51 亿美元。Liberty Formula One Group 定于 5 月 7 日发布 2026 年第一季度业绩。</p>
<p>摩根士丹利的迪夫利在关注 Liberty Formula One 时指出，该公司目前为投资者提供了一个良好的切入点和稳健的增长前景。</p>
<p>“Liberty Formula One 的交易价格比 F1 团队的整体价值低约 25%，尽管其自由现金流生成能力显著更强，并拥有 MotoGP。该运动拥有超过 8 亿全球粉丝，并在美国（最有利可图的体育市场）和亚洲（增长最快的市场）仍然未被充分渗透。我们认为，两个中东比赛的取消以及对最新 Concorde 协议后利润率的担忧在价格中有所反映。本周末在迈阿密恢复的比赛日程可能会重新点燃热情，并推动与苹果的更多机会，而围绕 LVGP 的 Liberty 投资者日也可能在今年晚些时候成为催化剂。虽然我们在 FY27 的调整后 EBITDA 预期约为 14 亿美元，自由现金流约为 10.8 亿美元，但我们认为这些数字的风险已降低，估值倍数过低，” 迪夫利表示。</p>
<p>量化他的立场，迪夫利将 FWONK 股票评级为超配（即买入），并设定 117 美元的目标价，意味着一年内约 34% 的收益。（要查看迪夫利的业绩记录，请点击这里）</p>
<p>总体而言，关于该股票的最新分析师评论记录中有 10 条，8 比 2 的比例支持买入而非持有，支持强烈买入的分析师共识评级。该股当前价格为 87.40 美元，平均目标价为 114.78 美元，表明未来 12 个月有 31% 的上涨空间。（见 <strong>FWONK 股票预测</strong>）</p>

FWONK

<p>摩根士丹利分析师肖恩·迪夫利强调了人工智能在娱乐行业的变革潜力，预测它可能每天增加 30 到 60 分钟的休闲时间。他推荐了两只娱乐股票，包括自由方程式一组（Liberty Formula One Group，FWONK），该公司面临挑战，但报告了 2025 年第四季度 37% 的强劲收入增长。尽管今年股价下跌了 10%，迪夫利仍将其视为一个稳健的投资机会，因其市场地位和增长前景，尤其是在美国和亚洲等渗透率较低的市场</p>

<p>Much of the discussion around AI has centered on its impact on the workplace and the digital economy. Questions surrounding jobs remain unresolved, while the so-called &#34;SaaSpocalypse&#34; has reflected the software sector's struggle to adapt to rapidly changing dynamics. Yet, AI is not limited to the workplace. Like human intelligence itself, its influence is likely to extend across nearly every part of daily life.</p>
<div class="lb-trans"><p>关于人工智能的讨论大多集中在其对工作场所和数字经济的影响上。围绕就业的问题仍未得到解决，而所谓的 “软件末日” 反映了软件行业在快速变化的动态中所面临的适应挑战。然而，人工智能并不仅限于工作场所。就像人类智慧本身一样，它的影响可能会扩展到日常生活的几乎每个部分。</p>
</div><h3>Claim 55% Off TipRanks</h3>
<div class="lb-trans"><h3>在 TipRanks 上享受 55% 的折扣</h3>
</div><ul>
<li>Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions</li>
<li>Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks</li>
</ul>
<div class="lb-trans"><ul>
<li>解锁对冲基金级别的数据和强大的投资工具，以做出更聪明、更精准的决策</li>
<li>发现表现优异的股票投资理念，并升级到市场领袖的投资组合，使用智能投资者精选</li>
</ul>
</div><p>In addition to freeing up consumer leisure time, AI – especially generative AI – promises to boost productivity and creativity for entertainment content providers. Higher productivity, lower costs, and consumers having more free time could prove transformative for the entertainment industry.</p>
<div class="lb-trans"><p>除了释放消费者的闲暇时间，人工智能——尤其是生成式人工智能——承诺将提升娱乐内容提供商的生产力和创造力。更高的生产力、较低的成本以及消费者拥有更多的闲暇时间可能会对娱乐行业产生变革性的影响。</p>
</div><p>Morgan Stanley analyst Sean Diffley covers the media and entertainment sector, and he's been watching the effects of AI as a leisure play.</p>
<div class="lb-trans"><p>摩根士丹利分析师肖恩·迪夫利关注媒体和娱乐行业，他一直在观察人工智能作为休闲产业的影响。</p>
</div><p>&#34;American leisure time has been remarkably stable for the last 20 years at ~4-5 hours/day (with TV accounting for about half of this 'free time'). AI has the potential to add 30-60 minutes of incremental leisure time a day in the next 3-5 years and it is not crazy to imagine a world where we only have to work 3-4 days a week. Today, your full self-driving car can drive you to work while you check emails or watch NFLX, productivity tools make you more efficient at getting tasks done and one day robots may do your chores. With increasing free time, Entertainment could be the last thing standing when most daily tasks are automated,&#34; Diffley opined.</p>
<div class="lb-trans"><p>“美国的休闲时间在过去 20 年里保持相对稳定，约为每天 4-5 小时（其中电视占据了大约一半的 ‘闲暇时间’）。人工智能有潜力在未来 3-5 年内每天增加 30-60 分钟的额外闲暇时间，想象一个我们只需每周工作 3-4 天的世界并不是疯狂的。如今，你的全自驾汽车可以在你查看电子邮件或观看 Netflix 时将你送到工作地点，生产力工具使你在完成任务时更加高效，未来机器人可能会帮你做家务。随着闲暇时间的增加，当大多数日常任务被自动化时，娱乐可能是最后一个坚守的领域，” 迪夫利表示。</p>
</div><p>The analyst goes on to extrapolate from that and picks out two entertainment stocks for investors to buy now, before a boom sets in. We've opened up the TipRanks database to find out what Wall Street thinks of these Morgan Stanley picks; here are the details, and Diffley's comments on his picks.</p>
<div class="lb-trans"><p>分析师进一步推测，并挑选出两只娱乐股票供投资者在繁荣来临之前购买。我们打开了 TipRanks 数据库，以了解华尔街对这些摩根士丹利推荐的看法；以下是详细信息，以及迪夫利对他所选股票的评论。</p>
</div><p><strong>Liberty Formula One (FWONK)</strong></p>
<div class="lb-trans"><p><strong>Liberty Formula One (FWONK)</strong></p>
</div><p>The first entertainment stock we're looking at here, Liberty Formula One Group, is the motor racing arm of the larger Liberty Media Corporation. Liberty Media operates through two publicly traded subsidiaries, and Formula One occupies what is quietly described as 'pinnacle of motorsports.' Taken together, the motor racing arms that make up the Formula One Group are responsible for the FIA's (the International Automobile Federation, whose sport division governs automobile racing) Formula One World Championship.</p>
<div class="lb-trans"><p>我们在这里关注的第一只娱乐股票是 Liberty Formula One Group，它是更大 Liberty Media Corporation 的赛车部门。Liberty Media 通过两个上市子公司运营，而 Formula One 被悄然描述为 ‘赛车运动的巅峰’。组成 Formula One Group 的赛车部门负责国际汽车联合会（FIA，负责汽车比赛的体育部门）举办的 Formula One 世界锦标赛。</p>
</div><p>Formula One Group has two main assets. Formula 1 is one of the leading, and most exciting, motor sports in the world, and is currently in its 76th consecutive season of championship races. The company's other leading asset is MotoGP, the world's top motorcycle racing circuit. Together, these racing circuits feature 46 races, held around the world; Formula 1 races are scheduled in over 20 countries, MotoGP heats are held in 18 countries. We should note that Liberty Media acquired MotoGP just last year, adding the popular motorcycle racing name to its motorsport portfolio.</p>
<div class="lb-trans"><p>Formula One Group 主要有两个资产。Formula 1 是全球领先且最激动人心的赛车运动之一，目前正处于其连续第 76 个赛季的锦标赛中。该公司的另一个主要资产是 MotoGP，全球顶级摩托车赛事。两个赛事合计在全球举办 46 场比赛；Formula 1 比赛在 20 多个国家安排，MotoGP 比赛在 18 个国家举行。我们应该注意到，Liberty Media 去年刚收购了 MotoGP，将这一受欢迎的摩托车赛事名称纳入其赛车投资组合。</p>
</div><p>The company generates revenue through several streams, including race promotion fees, sponsorship and partnership agreements, media rights, hospitality packages, and freight and logistics services tied to race operations.</p>
<div class="lb-trans"><p>该公司通过多个渠道产生收入，包括比赛推广费、赞助和合作协议、媒体版权、款待套餐以及与比赛运营相关的货运和物流服务。</p>
</div><p>Shares of FWONK have fallen more than 10% this year as investors weigh the financial impact of the MotoGP acquisition and question whether the company can continue meeting earnings expectations following the deal. In addition, geopolitical tensions in the Middle East have added another layer of uncertainty after major races in Bahrain and Saudi Arabia were canceled.</p>
<div class="lb-trans"><p>FWONK 的股价今年已下跌超过 10%，投资者正在权衡 MotoGP 收购的财务影响，并质疑公司在交易后是否能够继续满足盈利预期。此外，中东的地缘政治紧张局势在巴林和沙特阿拉伯的重大比赛被取消后增加了另一层不确定性。</p>
</div><p>The company is set to report first-quarter results on Thursday. Before that release, however, it is worth revisiting the company's fourth-quarter performance to better understand its current positioning. In Q4 2025, Formula One Group reported revenue of $1.61 billion, marking growth of more than 37% year over year and topping expectations by roughly $58.7 million. The company ended the year with slightly more than $1 billion in cash and liquid assets, alongside total debt of $5.1 billion. Liberty Formula One Group is scheduled to report Q1 2026 results on May 7.</p>
<div class="lb-trans"><p>该公司定于周四发布第一季度业绩。在此之前，回顾该公司第四季度的表现以更好地理解其当前定位是值得的。在 2025 年第四季度，Formula One Group 报告收入为 16.1 亿美元，同比增长超过 37%，超出预期约 5870 万美元。该公司年末现金和流动资产略超过 10 亿美元，总债务为 51 亿美元。Liberty Formula One Group 定于 5 月 7 日发布 2026 年第一季度业绩。</p>
</div><p>Morgan Stanley's Diffley, in looking at Liberty Formula One, notes that the company currently presents investors with a sound entry point and solid prospects for growth.</p>
<div class="lb-trans"><p>摩根士丹利的迪夫利在关注 Liberty Formula One 时指出，该公司目前为投资者提供了一个良好的切入点和稳健的增长前景。</p>
</div><p>&#34;Liberty Formula One trades at a ~25% discount to the aggregate value of F1 teams despite significantly greater FCF generation and ownership of MotoGP. The sport has &gt;800mn global fans and remains underpenetrated in the US (the most lucrative sports market) and Asia (the fastest growing). The cancellation of two Middle East races and concerns about margins post the latest Concorde agreement are reflected in the price, in our view. The race calendar resuming in Miami this weekend could re-ignite enthusiasm and drive further excitement around more opportunities with Apple, while the Liberty Investor Day around the LVGP in November could also serve as a catalyst later this year. While we are largely in-line with consensus for FY27 adj EBITDA at ~$1.4bn and FCF at ~$1.08bn, we believe numbers are de-risked and the multiple is too low,&#34; Diffley opined.</p>
<div class="lb-trans"><p>“Liberty Formula One 的交易价格比 F1 团队的整体价值低约 25%，尽管其自由现金流生成能力显著更强，并拥有 MotoGP。该运动拥有超过 8 亿全球粉丝，并在美国（最有利可图的体育市场）和亚洲（增长最快的市场）仍然未被充分渗透。我们认为，两个中东比赛的取消以及对最新 Concorde 协议后利润率的担忧在价格中有所反映。本周末在迈阿密恢复的比赛日程可能会重新点燃热情，并推动与苹果的更多机会，而围绕 LVGP 的 Liberty 投资者日也可能在今年晚些时候成为催化剂。虽然我们在 FY27 的调整后 EBITDA 预期约为 14 亿美元，自由现金流约为 10.8 亿美元，但我们认为这些数字的风险已降低，估值倍数过低，” 迪夫利表示。</p>
</div><p>Quantifying his stance, Diffey rates FWONK stock as Overweight (i.e., Buy), and sets a $117 price target that implies a one-year gain of ~34%. (To watch Diffley's track record, click here)</p>
<div class="lb-trans"><p>量化他的立场，迪夫利将 FWONK 股票评级为超配（即买入），并设定 117 美元的目标价，意味着一年内约 34% 的收益。（要查看迪夫利的业绩记录，请点击这里）</p>
</div><p>Overall, there are 10 recent analyst reviews on record for this stock, and the 8 to 2 split, favoring Buys over Holds, supports a Strong Buy analyst consensus rating. The shares are priced at $87.40 and have an average target price of $114.78, together indicating a 31% upside for the next 12 months. (See <strong>FWONK stock forecast</strong>)</p>
<div class="lb-trans"><p>总体而言，关于该股票的最新分析师评论记录中有 10 条，8 比 2 的比例支持买入而非持有，支持强烈买入的分析师共识评级。该股当前价格为 87.40 美元，平均目标价为 114.78 美元，表明未来 12 个月有 31% 的上涨空间。（见 <strong>FWONK 股票预测</strong>）</p>
</div>

'AI Leisure Play': Morgan Stanley Picks 2 Entertainment Stocks to Buy

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Liberty Media Corp-Liberty Formula One - C

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Liberty Media Corp-Liberty Formula One

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

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MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

‘AI 休闲游戏’：Morgan Stanley 选择了两只娱乐股票进行买入