UBS published a research report stating that the surprise of Meta's quarterly results lies in the continued progress in cost efficiency, including depreciation, infrastructure costs and employee costs, which can continue to invest in artificial intelligence growth while cutting costs. Management has flexibly responded to the macro environment and established leverage buffers to mitigate any potential short-term revenue shocks, providing investors with ample room to refocus on long-term new revenue sources, namely commercial AI chatbots and Meta AI search ads. The bank pointed out that despite the continued accumulation of signs of overall macroeconomic weakness, the bank basically maintained its revenue forecast for the company. Due to improved operating expense forecasts, the company's earnings per share forecast for this year and next year was raised by 4% and 6%, and the target price was raised from US$650 to US$683. Given that Meta's path to developing multiple new revenue sources remains clear, its "buy" rating is maintained.