软件股：摩根士丹利看好前台软件前景改善

英为财情

2025/07/14

Investing.com - 摩根士丹利分析师周一在一份投资者报告中表示，前台软件支出有望在2025年加速增长，这得益于周期性阻力的减弱和企业对生成式人工智能兴趣的增长。"整体软件预算保持稳定，尽管在我们2025年第二季度的首席信息官调查中，前台支出意向有所上升，"摩根士丹利写道。"周期性阻力的减弱和生成式人工智能在世代周期中的早期增长可能会改善定位。"据报道，受调查的首席信息官明确表示偏好前台...

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摩根士丹利分析师周一在一份投资者报告中表示，前台软件支出有望在2025年加速增长，这得益于周期性阻力的减弱和企业对生成式人工智能兴趣的增长。\"整体软件预算保持稳定，尽管在我们2025年第二季度的首席信息官调查中，前台支出意向有所上升，\"摩根士丹利写道。\"周期性阻力的减弱和生成式人工智能在世代周期中的早期增长可能会改善定位。\"据报道，受调查的首席信息官明确表示偏好前台...</p>\n\n<a href=\"https://cn.investing.com/news/stock-market-news/article-2884592\">网页链接</a>\n\n</div>\n","source":"investing_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>软件股：摩根士丹利看好前台软件前景改善</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n软件股：摩根士丹利看好前台软件前景改善\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-07-14 22:02 北京时间&nbsp;&nbsp;&nbsp;<a href=https://cn.investing.com/news/stock-market-news/article-2884592><strong>英为财情</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investing.com - 摩根士丹利分析师周一在一份投资者报告中表示，前台软件支出有望在2025年加速增长，这得益于周期性阻力的减弱和企业对生成式人工智能兴趣的增长。\"整体软件预算保持稳定，尽管在我们2025年第二季度的首席信息官调查中，前台支出意向有所上升，\"摩根士丹利写道。\"周期性阻力的减弱和生成式人工智能在世代周期中的早期增长可能会改善定位。\"据报道，受调查的首席信息官明确表示偏好前台...</p>\n\n<a href=\"https://cn.investing.com/news/stock-market-news/article-2884592\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0158827948.USD","symbol_name":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","start_time":0,"source_url":"https://cn.investing.com/news/stock-market-news/article-2884592","article_id":"2551187302","we_media_id":null,"thumbnails":[],"rights":{"source":"investing_news","url":"https://cn.investing.com/news/stock-market-news/article-2884592","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2551187302","pubTimestamp":1752501720,"columns":[],"sourceInfo":{"source_id":"investing_news","name":"英为财情新闻"},"weMediaInfo":null,"summary":"Investing.com - 摩根士丹利分析师周一在一份投资者报告中表示，前台软件支出有望在2025年加速增长，这得益于周期性阻力的减弱和企业对生成式人工智能兴趣的增长。\"据报道，受调查的首席信息官明确表示偏好前台软件，其中52%预计在2025年增加支出，而只有7%预计削减，根据摩根士丹利的说法，这是一个\"7.5倍的增减比率\"。摩根士丹利将此视为一个拐点。","collect":0,"end_time":0,"defaultTopTitle":"investing.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU2028103732.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AMG\" (USD) INC","LU0158827781.USD":" ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4581":"高盛持仓","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0971096721.USD":"富达环球金融服务 A","LU1548497426.USD":"安联环球人工智能AT Acc","LU0320765646.SGD":"FTIF - 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摩根士丹利分析师周一在一份投资者报告中表示，前台软件支出有望在2025年加速增长，这得益于周期性阻力的减弱和企业对生成式人工智能兴趣的增长。\"整体软件预算保持稳定，尽管在我们2025年第二季度的首席信息官调查中，前台支出意向有所上升，\"摩根士丹利写道。\"周期性阻力的减弱和生成式人工智能在世代周期中的早期增长可能会改善定位。\"据报道，受调查的首席信息官明确表示偏好前台软件，其中52%预计在2025年增加支出，而只有7%预计削减，根据摩根士丹利的说法，这是一个\"7.5倍的增减比率\"。相比之下，后台软件支出显示3.3倍的修正比率，51%预测增加但15%计划减少。该银行表示，首席信息官平均预计2025年前台SaaS支出将同比增长4.7%，而后台为3.9%。据称这标志着一个重大转变：\"前台SaaS支出意向历来大幅落后于后台支出意向（约100-250个基点）\"，他们写道。摩根士丹利将此视为一个拐点。\"2025年增长预期的拐点（比2024年第二季度增加160个基点）增强了我们的信心，认为这一消化期已基本结束，\"该公司表示，指的是后疫情时代支出优化对前台预算的压力。该银行重申了对Salesforce (NYSE:CRM)和HubSpot (NYSE:HUBS)的\"增持\"评级，理由是\"建设性的首席信息官调查数据(CRM)/积极的渠道检查(HUBS)与不苛求的估值相符。\"\n本文由人工智能协助翻译。更多信息，请参见我们的使用条款。","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}