Meta的股票在四天内暴跌了17%, 投资者担心其巨大的AI支出和不确定的回报。 Meta’s stock plunged 17% in four days amid investor fears over its massive AI spending and uncertain returns.

Meta的股票在2025年11月的四天内下跌了近17%, 损失了3,070亿美元, Meta’s stock dropped nearly 17% in four days in November 2025, losing $307 billion, amid investor concerns over its projected $72 billion in 2025 capital spending for AI initiatives. 尽管收入和收入增长预测强劲,但抛售的动力是担心投资回报、资本回报下降、缺乏企业AI收入以及与资产负债表外债务有关的收益质量问题。 Despite strong earnings and revenue growth forecasts, the selloff was driven by worries about return on investment, declining return on capital, lack of enterprise AI revenue, and earnings quality issues tied to off-balance-sheet debt. 有些分析家警告说,风险类似于失败的逆向下注,而其他分析家则认为这一下降是一种过度反应,注意到Meta的低估、稳健的增长前景以及比过去的技术赌注更清晰的AI战略。 While some analysts warn of risks similar to the failed metaverse bet, others see the dip as an overreaction, noting Meta’s undervaluation, solid growth outlook, and clearer AI strategy compared to past tech bets.