交银国际发表研究报告指，百度-SW(09888.HK) (BIDU.US) AI变现探索拖累广告收入，料其今年的百度核心收入基本持平，营运利润按年下降29%，另外其广告收入仍有压力，将持续关注商业化进展。该行指出，百度的云端业务受惠于AI和大模型需求拉动，预计全年收入按年增25%。而利润端受广告影响同步承压，自动驾驶UE持续改善，并与Uber(UBER.US) 达成合作计划，部署数千辆萝卜快跑无人驾驶。
该行维持百度美股及H股目标价分别99美元及96港元。由于广告收入不确定性较大，AI变现探索仍是整个产业的核心目标。该行关注公司的云端收入增长持续性及Robotaxi全球化推广进程，维持“买入”评级。(sl/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-07-24 16:25。) (美股为即时串流报价； OTC市场股票除外，资料延迟最少15分钟。)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.