[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio881d3ff0":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},"dcio881d3ff0","亿万对冲基金Bill Ackman 目前最大持仓不是 AI 芯片股，而是 Uber","\u002Fdoc\u002Fdcio881d3ff0","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\n\u003C\u002Fp>\u003Cp>\u003Cspan>Uber \u003Cspan>去年的自由现金流（\u003C\u002Fspan>FCF\u003Cspan>）接近\u003C\u002Fspan> 98\u003Cspan>亿美元，预计到\u003C\u002Fspan> 2027 \u003Cspan>年将进一步增长至\u003C\u002Fspan> 130\u003Cspan>亿美元。按照目前约\u003C\u002Fspan> 76\u003Cspan>美元的股价计算，相当于市场给予\u003C\u002Fspan> Uber \u003Cspan>未来自由现金流约\u003C\u002Fspan> 12 \u003Cspan>倍的估值。而\u003C\u002Fspan> Uber \u003Cspan>目前拥有约\u003C\u002Fspan> 2\u003Cspan>亿月活跃用户，每天完成约\u003C\u002Fspan> 4000\u003Cspan>万次出行订单。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>华尔街分析师对\u003C\u002Fspan> Uber \u003Cspan>的平均目标价约为\u003C\u002Fspan> 104\u003Cspan>美元。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>为什么\u003C\u002Fspan> Uber \u003Cspan>的估值会这么便宜？核心原因只有一个：市场正在提前定价一个极端情景——特斯拉\u003C\u002Fspan> Robotaxi\u003Cspan>、\u003C\u002Fspan>Waymo \u003Cspan>以及更广泛的自动驾驶浪潮，最终会彻底消灭\u003C\u002Fspan> Uber \u003Cspan>的需求。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>但\u003C\u002Fspan> Ackman \u003Cspan>显然并不认同这一逻辑。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>他的核心观点是：\u003C\u002Fspan>Uber \u003Cspan>本质上既不是一家汽车公司，也不是一家司机公司，而是一家“聚合平台”（\u003C\u002Fspan>aggregation platform\u003Cspan>）。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>消费者打开\u003C\u002Fspan> Uber App\u003Cspan>，并不是因为他们特别在意到底是哪一辆车、哪个司机提供服务，而是希望通过这个平台，以最快的速度、最低的价格找到合适的出行方式。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>因此，\u003C\u002Fspan>Ackman \u003Cspan>认为，当未来自动驾驶汽车大量普及之后，消费者并不会为了打车而分别下载\u003C\u002Fspan> Tesla\u003Cspan>、\u003C\u002Fspan>Waymo \u003Cspan>以及其他自动驾驶车队的\u003C\u002Fspan> App\u003Cspan>，然后在不同\u003C\u002Fspan> App \u003Cspan>之间来回切换、比较价格。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>相反，他们更可能继续打开自己已经信任的\u003C\u002Fspan> Uber App\u003Cspan>，然后直接通过\u003C\u002Fspan> Uber \u003Cspan>完成整个出行需求。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>如果这个逻辑成立，那么未来的\u003C\u002Fspan> Uber \u003Cspan>可能会发生一个非常重要的身份转变：\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>Waymo \u003Cspan>和\u003C\u002Fspan> Tesla \u003Cspan>等自动驾驶公司，反而更像是\u003C\u002Fspan> Uber \u003Cspan>的“车辆设备供应商”，而\u003C\u002Fspan> Uber \u003Cspan>则成为连接消费者与各种自动驾驶车队的流量入口和聚合平台。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>换句话说，自动驾驶未必会消灭\u003C\u002Fspan> Uber\u003Cspan>，反而可能成为\u003C\u002Fspan> Uber \u003Cspan>降低成本、扩大规模和提升利润率的重要基础设施。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>与此同时，\u003C\u002Fspan>Uber \u003Cspan>目前正在推进一笔约\u003C\u002Fspan> 148\u003Cspan>亿美元的\u003C\u002Fspan> Delivery Hero \u003Cspan>收购交易。如果监管机构最终批准，这笔交易将使\u003C\u002Fspan> Uber \u003Cspan>的全球业务版图几乎扩大一倍，覆盖市场数量有望接近\u003C\u002Fspan> 100\u003Cspan>个。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>因此，美股投资网观点认为，\u003C\u002Fspan>UBER \u003Cspan>目前作为一家企业的内在价值被市场严重低估。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FU\u002FUBER\u002FUBER.jpg","2026-08-19T18:22:01","2026.08.19","2026\u002F08\u002F19",32773,[22],"UBER","Article",0,"免费","success",{"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":28,"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},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\" rel=\"noopener noreferrer\">\u003Cimg src=\"\u002Fimg\u002Fstockwewebfiles\u002Fweb-202408-stk\u002F1586109431mceclip0.jpg\">\u003C\u002Fa>\u003C\u002Ffigure>\u003Cdiv class=\"text-center\">\u003Ch2 class=\"card-title mx-auto\">\u003Cbr>\u003Ca rel=\"noopener noreferrer\" href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\">案例介绍：英伟达深度研究报告\u003C\u002Fa>\u003C\u002Fh2>\u003C\u002Fdiv>",[33,37],{"productId":34,"serviceName":35,"priceText":36},"prod_PPxdDdK87QaiLv","月付","$12.95美元",{"productId":38,"serviceName":39,"priceText":40},"prod_PPxeMs3bix1da5","年付","$149.00美元",[],{"links":43,"images":71,"summaryHtml":76,"aboutTitle":77,"aboutHtml":78,"copyrightHtml":79},[44,47,50,53,56,59,62,65,68],{"label":45,"url":46},"深度报告","\u002Fcol\u002FdepthReport",{"label":48,"url":49},"VIP会员","\u002Fvip",{"label":51,"url":52},"期权推荐","\u002FOption",{"label":54,"url":55},"低价暴涨股","\u002FPenny",{"label":57,"url":58},"AI智能体","\u002FAiAgent",{"label":60,"url":61},"常见问题","https:\u002F\u002Fstockwe.com\u002FFAQ",{"label":63,"url":64},"美股课程","\u002Fcol\u002Fvideos",{"label":66,"url":67},"免责声明","\u002Fdisclaimer",{"label":69,"url":70},"联系我们","\u002FContactUs",[72,73,74,75],"\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploaderzic2tuwsol2_2025_09_11_18_21_07.gif","\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploadercakzdvydksw_2025_09_03_09_00_56.png","\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploadergtjyagwvoyk_2025_09_14_08_32_05.png","\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploader3u0tt4jhlqh_2025_09_23_22_30_48.png","邮箱: 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\" 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,"courseContent":87,"more":88,"buyNow":89,"subscribeNow":90,"encoding":91,"paidContent":92},"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","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"]