AppLovin 3Q26 Business Update: No Notes
AppLovin’s Q3 revenue rose 55% year over year as AXON model gains expanded margins, while ad take-rate compression remains the key competitive risk.
Thursday, November 5, 2026
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From X
Maj Soueidan on X
Not saying $MCHP is cheap, but so far, their Q3 earnings narrative is exactly what most AI beneficiaries are saying about their AI and data center related growth. Political posturing might impact near-term investor sentiment, but it shouldn’t impact overall growth trajectories of a good deal of these companies. Valuation is another story.
Barbarian Capital on X
General Mills Considering Separation of Haagen-Dazs Business Outside North America $GIS https://t.co/wtqQjtZKGO
Barbarian Capital on X
DraftKings Cuts Outlook as It Pours More Money Into Prediction Markets $DKNG https://t.co/lGrshk7yNl
Myles on X
@0pportunist @Tulipspeculator @SwCap30 Agree to disagree, I guess we'll see. I think $SPY is higher in 6 months.
Mr Neutral Man aka "Howard Marks of REITs” on X
This is the main reason why we own 3 to 4 times as much of $CPT vs $MAA and $NXRT Blended leases up 1.0% in Q3 with new lease down 2% YOY vs new leases down 6% for MAA and down 4.5% for NXRT The renewal - new lease is too high for MAA for my liking. Much healthier for Camden Same store NOI -0.2% in Q3 vs -1.8% for MAA and -8.2% for NXRT (large chunky expenses that is not run rate for NXRT) @jayparsons
Edwin Dorsey on X
$DKNG short thesis https://t.co/1wodysWN3L
Edwin Dorsey on X
So much for the ridiculous idea $DKNG would be unaffected by the growth of Kalshi I'm still short $DKNG and think it is severely impaired long-term https://t.co/6R4qlYumPX https://t.co/7CrhmRdCa2
Investor Letters
All letters- Rathbones October 2026 SBGSF $143BSIEGY $237B
- FCL Capital October 2026 ANPDF $28BASML $575B
- Protean Funds October 2026 LFABF $13BNSIS-B $30B
- JB Global Capital Q3 2026 BABA $262BPYPL $49B
- Pendelhaven Asset Management B.V. Q3 2026 SKHY $729B
- Chautauqua Capital Management Q3 2026 AAIGF $103BADYEY $32B
- Rathbones Q3 2026 GOOGL $3.5T
- Impax Asset Management third quarter of 2026 AMAT $260BIT $13B
Uber: The Robotaxi Discount Has Truly Gone Too Far (Earnings Review)
Luca Socci 4 clicks
The hyperscalers (almost) always win
Amazon’s AWS grew 39.3% with roughly 39% margins, while retail unit growth and lower cost to serve expand its delivery network’s reach.
Intel: The CPU Comeback, Discounted
Intel's Q3 2026 results were hit by memory costs and an Israel shutdown, but enterprise AI inference could lift CPU demand as server…
Telkom Indonesia (TLKM/TLK): 9x P/E, 11% dividend, separable assets ≈80–95% of market cap, stub at ~2x EBITDA. Industry went from 11 operators to 3, a new rule kills the price war, and MSCI is forcing the sellers.
Telkom Indonesia trades at 9x earnings and an 11% yield as MSCI-driven selling obscures telecom consolidation, price increases and…
Thursday Tailwinds #13: Nov 5, 2026
Florida marinas are 92% full as boat counts rise and permits constrain new supply, creating pricing power for existing operators such as…
Delta Air Lines Is Worth Buying Despite Near-Term Pressure
Delta Air Lines' premium, loyalty and ancillary businesses generate 61% of revenue as cash flow supports debt reduction despite fuel and…
Motti Sapir 
Microsoft: A “Blue Chip” Again, New All-Time High >$550
Microsoft rose 6.7% to a $555.80 record after Q1 FY27, with profitable growth and free cash flow reinforcing investor confidence in its AI…
Moderna Earnings Preview: The Melanoma Breakthrough Is Real, But $221 Is Way Too Much
Lee Bailey 1 click
GPC Q3 2026: a quick North America Automotive update
GPC’s NAPA commercial sales grew 4% in Q3, trailing AutoZone and O’Reilly as freight, fuel and rent cut North American Automotive margins…
AMSC, Datadog will be fine, SiTime is worth a look
AMSC and Datadog will be fine, while SiTime is worth a closer look.
Adobe 3Q26 Update: Nothing Broken, Nothing Explained
Adobe’s fiscal 3Q26 revenue grew 13%, while ARR growth was about 9.3% excluding Semrush.
A letter to founding members
Cannibal Stocks favors cash-generative companies that retire shares at low valuations, citing Dillard’s 80% share reduction and…
[Market Memo] Qualcomm/Amazon, Apple C2 Modem, Credo uLED 30M Claim, Cerebras I/O Conspiracy Theory
Qualcomm's Amazon coherent-lite DSP work may carry lower margins as Apple’s C2 modem cuts Qualcomm’s iPhone share; Credo’s 30-meter uLED…
TYL · long Tyler Technologies INC
Tyler Technologies, TYL, is positioned as a resilient govtech software provider if AI disrupts enterprise SaaS.
Preview of the Week Ahead: W/C September 14, 2026
The week of September 14 features the FOMC decision, retail sales and housing data after the S&P 500 fell 0.8%.
Owning the Seven PM Slot
Netflix is using AI visual effects and dubbing to cut production costs, expand global distribution and reinforce its recommendation-driven…
Long Live the Short King: Why 4-hi HBM Wins
Nvidia’s Rubin Ultra cuts HBM capacity to 192GB per GPU as 8-hi and future 4-hi stacks improve bandwidth economics and ease wafer…
Booking Holdings Deep Dive: An Attractive Setup
Booking Holdings trades at 19x earnings, its lowest since 2022, after a 20% annual decline, with the thesis resting on durable online…
Nintendo: The Software Payoff Is Still Ahead
Nintendo expects software, digital sales and character licensing to drive growth, with FY2027 revenue forecast at ¥2.05 trillion and…
LL Insights 
Adobe, Oracle, and Druckenmiller (NOTW#107)
Adobe’s RPO and ARR growth continue to decelerate, while Oracle’s AI cloud capex economics face a supply-normalization test.
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Sectors
Ordered by how often our editor reaches for them.
