[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio10168d3e":3},{"user":4,"document":8,"mainDocument":26,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":22,"videoId":6,"liveVideoUrl":6,"duration":23,"price":23,"priceText":24,"priceBadgeText":24,"priceBadgeClass":25,"freeForMinGroupLevel":23,"redirectUrl":6,"readyToStream":5},"dcio10168d3e","财报爆表股价却崩了！AppLovin(APP)遭AI与竞对担忧重挫20%，分析师高喊：护城河还在","\u002Fdoc\u002Fdcio10168d3e","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp> \u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，尽管交出超预期的四季报及指引，AppLovin(APP)周四仍收跌19.68%。市场担忧人工智能赛道拥挤，且Meta(META)、谷歌(GOOGL)及CloudX加大布局游戏内广告，恐削弱其优势。但多数分析师仍持乐观态度，认为电商自助平台等增长驱动力尚待释放。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">摩根士丹利分析师马修·科斯特团队在研报中指出“关于Meta，公司强调其Audience Network一直是AppLovin广告供给侧的长期竞价方，且IDFA流量增量竞价并非新变量。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">更重要的是，AppLovin认为当前竞争格局与五年前(Meta主导时期)已截然不同——其广告效果提升与闭环数据优势已构筑起护城河。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">摩根士丹利维持“增持”评级，目标价从800美元下调至720美元。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">“我们当前关注的是电商业务在2026上半年爬坡，以及网页自助工具全面铺开。以AppLovin目前17倍2027年EBITDA的估值，电商\u002F网页广告若能突破，将成为2026年及以后估值提升与盈利上修的关键催化剂。”科斯特补充道。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">杰富瑞亦维持“买入”，目标价由860美元下调至700美元。该行指出，游戏类标的持续遭抛售，主因“AI风险被无差别定价”。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">分析师詹姆斯·希尼团队表示“自助式通用广告工具仍按计划于今年上半年推出，但APP在电商规模化上选择审慎推进而非仓促上线。新广告主30日LTV\u002FCAC回报稳健，但合格线索转化率仅57%，优化空间显著。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">当前瓶颈在于视频创意产能不足，制约广告主放量。AppLovin计划未来数月推出GenAI创意工具，管理层认为此举有望将转化率推升至70%-80%，届时全面铺开通用广告工具的时机将更成熟。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">AppLovin首席执行官兼联合创始人亚当·福鲁吉在财报会上直面竞争议题。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">“如各位过去数年所见，MAX竞价系统中多次出现新竞对。Unity(U)凭借Vector增长，Liftoff推出Cortex并快速起量，Moloco持续扩张，去年我们也将其引入竞价。谷歌转向竞价模式。每次市场都有困惑——在竞价动态体系下，竞争理应在侵蚀AppLovin的壁垒。但你们从未看到这一幕成真。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">“原因有二其一，我们体量庞大且足够专业;其二，每次曝光价值迥异。我们的模型在评估曝光真实价值上具备卓越优势。”他补充道。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">竞争对手Unity延续跌势，继周三收跌26%后，周四收跌8.2%。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">最专业的美股资讯推荐美股大数据 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]