[Morgan Stanley Rates Meta: Focus on Cloud Computing Power Leasing, Target Price $775] According to Deep Tide TechFlow, based on research by Tide Research, Morgan Stanley released a report on July 1 stating that in response to Bloomberg's report about Meta planning a cloud computing business, it is more likely that Meta will choose the lighter path of leasing idle computing power rather than building a full-scale cloud service comparable to AWS. The report estimates that leasing 250 megawatts of computing power at $40 per watt per year could increase earnings per share by approximately 8% in 2028. If scaled to 1,000 megawatts, the increase could reach 33%. However, this earnings boost is considered a transitional buffer and not the core logic supporting the rating. Morgan Stanley also mentioned that Meta's self-owned computing power is expected to expand to 1.9 gigawatts and 3.4 gigawatts in 2026 and 2027, respectively, providing room for leasing calculations. Morgan Stanley maintains an Overweight rating for Meta with a target price of $775, representing an approximate 37.6% upside from the closing price of $563.29. Additionally, it has set a 2027 capital expenditure forecast at $175 billion, with the potential for upward revisions if the cloud computing business scales up.