我们认为市场对于AI叙事的部分合理担忧,但科技股估值和业绩增速整体匹配,同时短期内难以证伪AI资本开支可持续性,AI泡沫破裂的极端情景短期内预计难以出现。当前算法仍在持续迭代过程,AI产品化、货币化仍在迭代,后续有望逐步带来收入。从中长期角度看,商用软件等领域的商业化、宏观波动、大型科技巨头的业绩等是后续的关注变量。我们依然看好美股科技股2026年的配置价值,建议投资人持续关注互联网、软件、云...
Source Link我们认为市场对于AI叙事的部分合理担忧,但科技股估值和业绩增速整体匹配,同时短期内难以证伪AI资本开支可持续性,AI泡沫破裂的极端情景短期内预计难以出现。当前算法仍在持续迭代过程,AI产品化、货币化仍在迭代,后续有望逐步带来收入。从中长期角度看,商用软件等领域的商业化、宏观波动、大型科技巨头的业绩等是后续的关注变量。我们依然看好美股科技股2026年的配置价值,建议投资人持续关注互联网、软件、云...
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