核心观点我们看好AI 云、自动驾驶在2025 年的积极扩展机会,算力需求扩张叠加推理成本优化利好云厂商,云厂商从低增长、低回报调整为高增长、中等回报,存在较大的重估机会。智能驾驶业务方面预计25 年看到大幅减亏空间,25 年拓展可能带动无人驾驶中长期叙事展开,存在较大的估值空间。广告业务预计仍然受宏观经济复苏的挑战,叠加内部主动求变改造搜索带来商业化流量占比下降,AI+搜索参照Google 早期...
Source LinkDisclaimer: 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.