<p>在過去三年中，華爾街的牛市一直牢牢掌控着市場。雖然包括人工智能（AI）的崛起和量子計算的出現等幾個不可錯過的趨勢為整體市場提供了助力，但 “七大巨頭” 才是推動市場的主要力量。</p>
<p>七大巨頭 代表了華爾街七家最具影響力的公司，超過一半的公開交易股票曾達到萬億美元市值的高峰。在過去十年中，這七家行業領袖的累計回報率至少超過了標準普爾 500 指數 258% 的回報率。</p>
<p><strong>Meta Platforms</strong>（META 3.28%）是這七家公司中表現 “最差” 的，過去十年的總回報率為 539%。然而，這家社交媒體巨頭在過去三年中一直在超越基準的標準普爾 500 指數，並且在發佈第四季度運營結果後，成為今年截至一月底表現最佳的七大巨頭股票。</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>圖片來源：Getty Images。</p>
<p>雖然 Meta 最新的運營結果突顯了它作為長期投資的多個理由，但需要注意的是，該公司的董事會 錯過了進一步激發零售投資者對其股票興趣的絕佳機會。</p>
<h2>可持續的護城河和優質的資產負債表是 Meta Platforms 的奢侈品</h2>
<p>儘管人工智能是華爾街的熱門話題，Meta 的基礎運營部門 仍然是其社交媒體平台，包括 Facebook、WhatsApp、Instagram、Threads 和 Facebook Messenger 等。在 12 月，其應用程序家族每天吸引了平均 3.58 億用户。</p>
<p>沒有其他社交媒體驅動的公司能像 Meta 一樣每天吸引如此多的人訪問其平台。這使得 Meta 成為企業尋求廣告的合乎邏輯的選擇，並賦予其相當大的廣告定價權。</p>
<p>到 2025 年，近 98% 的 2010 億美元淨銷售額來自廣告，該公司也與美國和全球經濟的健康狀況密切相關。廣告是週期性的，經濟擴張期通常持續時間顯著長於衰退期。隨着時間的推移，Meta 的核心業務應該會擴展。</p>
<p>但正如大多數投資者可能意識到的那樣，首席執行官馬克·扎克伯格在投資 人工智能 的演變上毫不吝嗇。雖然這些投資中的一些不會立即為公司帶來收益，但 Meta 已經從將生成性 AI 解決方案融入其社交媒體廣告平台中受益。讓企業能夠訪問生成性 AI 解決方案，使他們能夠 為個別用户創建靜態和視頻消息。這可以提高點擊率並增強 Meta 的廣告定價權。</p>
<p>Meta Platforms 為其投資者帶來的另一個優勢是 現金充裕的資產負債表。扎克伯格的公司在 2025 年結束時擁有 816 億美元的現金、現金等價物和可交易證券。它還從經營活動中產生了 1158 億美元的淨現金。Meta 有能力在不期待立即回報的情況下，積極投資於改變遊戲規則的技術和增長計劃。</p>
<p>Meta 的可持續社交媒體護城河和優質資產負債表 使其成為頂級投資。儘管該公司持續實現兩位數的銷售增長，扎克伯格和 Meta Platforms 的其他董事會成員卻錯過了一個必然的機會。</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>圖片來源：Getty Images。</p>
<h2>馬克·扎克伯格和 Meta 的董事會剛剛錯過了一個顯而易見的機會</h2>
<p>自 2012 年 5 月中旬 Meta Platforms 首次公開募股以來，其股價已上漲近 1800%。雖然這在七大巨頭股票中算是正常，但 Meta 卻 獨特地成為唯一一家從未進行過股票拆分的公司。</p>
<p>股票拆分是一種事件，使公開交易的公司能夠以相同的幅度表面上調整其股價和流通股數量。這些變化是表面的，因為它們不會改變公司的市值或其基礎運營表現。在 Meta 的情況下，似乎早該進行一次向前的股票拆分——一種降低其股價並增加其流通股數量的拆分。</p>
<p>通常，需要兩個標準來促進前分拆。第一個也是最為人所知的標準是名義上的高股價。零售投資者如果無法通過經紀商購買零股，可能無法開立新頭寸或增加現有持倉，如果股價上漲過高。Meta 在一月底的股價為 716.50 美元，這無疑已經進入了對無法購買零股的普通投資者來説的限制區域。</p>
<p>另一個必要因素是足夠大的零售投資者持股基礎。如果只有很小比例的流通股由非機構投資者持有，董事會通常沒有動力推動股票分拆。在 Meta 的案例中，29.3% 的流通股由非機構投資者持有——也就是説，足以激勵進行前分拆。</p>
<p>展開</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 股票報價" 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>今日變動</p>
<p>(-3.28%) $-22.71</p>
<p>當前價格</p>
<p>$668.99</p>
<h3>關鍵數據點</h3>
<p>市值</p>
<p>$1.7 萬億</p>
<p>日內區間</p>
<p>$667.46 - $688.83</p>
<p>52 周區間</p>
<p>$479.80 - $796.25</p>
<p>成交量</p>
<p>1700 萬</p>
<p>平均成交量</p>
<p>1800 萬</p>
<p>毛利率</p>
<p>82.00%</p>
<p>股息收益率</p>
<p>0.31%</p>
<p>儘管 Meta Platforms 的運營結果繼續自我證明，但不宣佈首次股票分拆是一個錯失的機會，原因有兩個。</p>
<p>首先，股市歷史上價格昂貴。我們在 2026 年進入了自 1871 年開始以來第二昂貴的市場。如果 “七大奇蹟” 的成員想要進一步上漲，他們將需要零售投資者的支持，後者在華爾街的角色逐漸增大，佔總股票交易量的比例。如果 Meta 不讓其股票對普通投資者更具可及性，推動其市值超過 2 萬億美元可能會面臨挑戰（至少在短期內）。</p>
<p>另一個股票分拆完全合理的原因與馬克·扎克伯格希望在人工智能上花費一小筆鉅款的願望有關。在 2026 年，公司計劃 在資本支出上花費 1150 億到 1350 億美元，其中大部分將支持其 Meta 超級智能實驗室和核心業務。</p>
<p>使 Meta 的股票在名義上對普通投資者更具可及性的股票分拆，可能使他們能夠忽視扎克伯格的消費狂潮。</p>
<p>雖然我完全預期 Meta 的股票在長期內會走高，但扎克伯格和他的董事會似乎錯失了一個將其公司股票置於華爾街舞台中心的黃金機會。</p>

2 倍做多 META ETF - GraniteShares

2 倍做多 Meta ETF - Direxion

<p>儘管 Meta Platforms 的市值接近 2 萬億美元，但未能通過實施股票拆分來抓住一個重要機會。該公司表現強勁，過去十年回報率達到 539%，並且在今年的 “七大巨頭” 股票中表現最佳。Meta 的社交媒體平台每天吸引 3.58 億用户，帶來了可觀的廣告收入。然而，其 716.50 美元的高股價可能限制散户投資者的參與，而散户投資者僅持有 29.3% 的股份，董事會拒絕進行股票拆分的決定可能會阻礙更廣泛的投資興趣</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>在過去三年中，華爾街的牛市一直牢牢掌控着市場。雖然包括人工智能（AI）的崛起和量子計算的出現等幾個不可錯過的趨勢為整體市場提供了助力，但 “七大巨頭” 才是推動市場的主要力量。</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>七大巨頭 代表了華爾街七家最具影響力的公司，超過一半的公開交易股票曾達到萬億美元市值的高峰。在過去十年中，這七家行業領袖的累計回報率至少超過了標準普爾 500 指數 258% 的回報率。</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%）是這七家公司中表現 “最差” 的，過去十年的總回報率為 539%。然而，這家社交媒體巨頭在過去三年中一直在超越基準的標準普爾 500 指數，並且在發佈第四季度運營結果後，成為今年截至一月底表現最佳的七大巨頭股票。</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>圖片來源：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>雖然 Meta 最新的運營結果突顯了它作為長期投資的多個理由，但需要注意的是，該公司的董事會 錯過了進一步激發零售投資者對其股票興趣的絕佳機會。</p>
</div><h2>A sustainable moat and pristine balance sheet are luxuries for Meta Platforms</h2>
<div class="lb-trans"><h2>可持續的護城河和優質的資產負債表是 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>儘管人工智能是華爾街的熱門話題，Meta 的基礎運營部門 仍然是其社交媒體平台，包括 Facebook、WhatsApp、Instagram、Threads 和 Facebook Messenger 等。在 12 月，其應用程序家族每天吸引了平均 3.58 億用户。</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>沒有其他社交媒體驅動的公司能像 Meta 一樣每天吸引如此多的人訪問其平台。這使得 Meta 成為企業尋求廣告的合乎邏輯的選擇，並賦予其相當大的廣告定價權。</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 億美元淨銷售額來自廣告，該公司也與美國和全球經濟的健康狀況密切相關。廣告是週期性的，經濟擴張期通常持續時間顯著長於衰退期。隨着時間的推移，Meta 的核心業務應該會擴展。</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>但正如大多數投資者可能意識到的那樣，首席執行官馬克·扎克伯格在投資 人工智能 的演變上毫不吝嗇。雖然這些投資中的一些不會立即為公司帶來收益，但 Meta 已經從將生成性 AI 解決方案融入其社交媒體廣告平台中受益。讓企業能夠訪問生成性 AI 解決方案，使他們能夠 為個別用户創建靜態和視頻消息。這可以提高點擊率並增強 Meta 的廣告定價權。</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 為其投資者帶來的另一個優勢是 現金充裕的資產負債表。扎克伯格的公司在 2025 年結束時擁有 816 億美元的現金、現金等價物和可交易證券。它還從經營活動中產生了 1158 億美元的淨現金。Meta 有能力在不期待立即回報的情況下，積極投資於改變遊戲規則的技術和增長計劃。</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 的可持續社交媒體護城河和優質資產負債表 使其成為頂級投資。儘管該公司持續實現兩位數的銷售增長，扎克伯格和 Meta Platforms 的其他董事會成員卻錯過了一個必然的機會。</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>圖片來源：Getty Images。</p>
</div><h2>Mark Zuckerberg and Meta's board just missed a no-brainer opportunity</h2>
<div class="lb-trans"><h2>馬克·扎克伯格和 Meta 的董事會剛剛錯過了一個顯而易見的機會</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 首次公開募股以來，其股價已上漲近 1800%。雖然這在七大巨頭股票中算是正常，但 Meta 卻 獨特地成為唯一一家從未進行過股票拆分的公司。</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>股票拆分是一種事件，使公開交易的公司能夠以相同的幅度表面上調整其股價和流通股數量。這些變化是表面的，因為它們不會改變公司的市值或其基礎運營表現。在 Meta 的情況下，似乎早該進行一次向前的股票拆分——一種降低其股價並增加其流通股數量的拆分。</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，需要兩個標準來促進前分拆。第一個也是最為人所知的標準是名義上的高股價。零售投資者如果無法通過經紀商購買零股，可能無法開立新頭寸或增加現有持倉，如果股價上漲過高。Meta 在一月底的股價為 716.50 美元，這無疑已經進入了對無法購買零股的普通投資者來説的限制區域。</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>另一個必要因素是足夠大的零售投資者持股基礎。如果只有很小比例的流通股由非機構投資者持有，董事會通常沒有動力推動股票分拆。在 Meta 的案例中，29.3% 的流通股由非機構投資者持有——也就是説，足以激勵進行前分拆。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展開</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>今日變動</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>當前價格</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>關鍵數據點</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 萬億</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日內區間</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 周區間</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 萬</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 萬</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>儘管 Meta Platforms 的運營結果繼續自我證明，但不宣佈首次股票分拆是一個錯失的機會，原因有兩個。</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，股市歷史上價格昂貴。我們在 2026 年進入了自 1871 年開始以來第二昂貴的市場。如果 “七大奇蹟” 的成員想要進一步上漲，他們將需要零售投資者的支持，後者在華爾街的角色逐漸增大，佔總股票交易量的比例。如果 Meta 不讓其股票對普通投資者更具可及性，推動其市值超過 2 萬億美元可能會面臨挑戰（至少在短期內）。</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>另一個股票分拆完全合理的原因與馬克·扎克伯格希望在人工智能上花費一小筆鉅款的願望有關。在 2026 年，公司計劃 在資本支出上花費 1150 億到 1350 億美元，其中大部分將支持其 Meta 超級智能實驗室和核心業務。</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 的股票在名義上對普通投資者更具可及性的股票分拆，可能使他們能夠忽視扎克伯格的消費狂潮。</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>雖然我完全預期 Meta 的股票在長期內會走高，但扎克伯格和他的董事會似乎錯失了一個將其公司股票置於華爾街舞台中心的黃金機會。</p>
</div>

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

- Meta Platforms 是 “七大巨頭” 中表現最強的公司，十年回報達 539%。  
- 公司現金充足，吸引大量廣告客户，並具備強大的市場影響力。  
- 不進行股票拆分錯失重大機會，可能影響普通投資者的參與。

儘管市值接近 2 萬億美元，Meta Platforms 卻剛剛錯失了一個絕佳的機會