[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dciodb9827f7":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":80},{"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":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dciodb9827f7","AI-颠覆阴霾笼罩-SaaS-板块：华尔街集体唱空，-Adobe-(ADBE)与赛富时(CRM)评级降至多年冰点","\u002Fdoc\u002Fdciodb9827f7","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp> \u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网注意到，对人工智能将给软件公司带来冲击的担忧，促使越来越多的华尔街分析师建议卖出 Adobe (ADBE)和赛富时(CRM)的股票，这一看空情绪达到了多年未见的程度。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">摩根士丹利是最新对该风险发出警告的机构，该行下调了这两家公司以及该行业其他几家公司的股票评级。自 6 月初以来，已有至少 5 家机构(包括 Stifel、Evercore ISI、Wolfe Research 和辉立证券)下调了对 Adobe 的评级，而在 2026 年内，下调其评级的机构已超过十几家。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">经历这些下调后，Adobe 的综合推荐评级(衡量买入、持有和卖出评级比例的指标)已降至 3.3 分(满分 5 分)。数据显示，这是自 20 世纪 90 年代以来的最低水平。至于赛富时，在摩根士丹利和 KeyBanc Capital Markets 最近以其 Agentforce AI 产品为由相继下调评级后，这一数值降至 4.4，创下 2012 年以来的新低。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">这些举措凸显了市场对软件板块的谨慎态度。由于担心来自 AI 服务的竞争将永久削弱该行业的增长潜力、定价能力和毛利率，该板块今年遭受了沉重的抛售压力。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">摩根士丹利分析师亚当·伍德写道，“随着生成式 AI 的颠覆性争议日益加剧并遮蔽了年度可重复预订收入(ARR)重新加速的路径，Adobe 在免费增值模式、领导层换届以及再投资方面的同步转型，加剧了其执行风险。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">伍德补充道，虽然目前的估值已消化了“这一颠覆性风险中的大部分，但 Adobe 的同步转型降低了可见性——进而削弱了我们对其潜在业绩企稳回升的时机和强度的信心”。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Adobe分析师情绪下跌\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">针对赛富时，摩根士丹利的伊丽莎白·波特写道，该公司 Agentforce AI 产品的关键绩效指标“尚未推动有机增长迎来拐点，因为传统业务组合的拖累依然存在”。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">摩根士丹利还下调了软件领域的其他几家公司评级，其中包括Workday Inc.、Intuit Inc.、JFrog Ltd.、Elastic NV、PagerDuty Inc.、Rapid7 Inc.、SPS Commerce Inc.、BlackLine Inc. 以及 Vertex Inc.。不过，该行将网络安全软件公司 Fortinet Inc. 的评级上调至“与大盘持平”，认为该公司拥有“稳固的近期表现格局”。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">作为该板块广泛参考指标的 iShares 扩充科技软件板块 ETF(iShares Expanded Tech-Software Sector ETF)周二下跌 1%，使其今年以来的累计跌幅扩大至 13%。Adobe 大跌 3.7%，今年以来已累计下跌超过 35%。赛富时下跌 1.6%，2026 年内已累计下跌 36%。\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 \u003Ca href=\"https:\u002F\u002Fstockwe.com\" target=\"_blank\" rel=\"noopener\">StockWe.com\u003C\u002Fa> 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，每天处理海量股票数据：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，美股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":81,"search":82,"searchPlaceholder":82,"hotContent":83,"draft":84,"noData":85,"searchNoData":86,"edit":87,"editVideo":88,"courseContent":89,"more":90,"buyNow":91,"subscribeNow":92,"encoding":93,"paidContent":94},"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"]