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.
The Next Trillion-Dollar Chip Company
PostGPT inference-chip contenders need to run trillion-parameter models, ship rack-scale systems, beat GPUs on one KPI and win a frontier…
Thoughts on PayPal Buyout Offer
PayPal faces a $60.50-per-share buyout offer from Stripe and Advent, with a rejection or counteroffer above $80 viewed as more likely.
Lasers for CPO/NPO: Part 1 – The InP DFB Laser
Lumentum’s InP DFB laser design for co-packaged optics traces to 2007 work and faces heat, linewidth, light-extraction and optical-damage…
Rebound Watchlist: July 2026
Rebound Capital's July 2026 watchlist puts AeroVironment and Coinbase under review after UnitedHealth rose more than 70% from its low.
Airbnb’s Cost of Market Creation and Regulatory Survival
Airbnb spent 1.1% of 2025 GBV on field operations and policy as regulatory costs persisted; New York’s short-term-rental crackdown cut…
New Position: Volatility Merchant
A digital market-infrastructure platform dominant in rates and expanding in credit trades at 22 times free cash flow, with 45%+ FCF margins…
WhatsApp's New Era
WhatsApp named CRED founder Kunal Shah to replace Will Cathcart after Meta bought a 20% CRED stake for $900 million, signaling a push to…
THE MEMORY MACHINE
Samsung, SK Hynix and Micron face an antitrust suit alleging coordinated memory supply cuts drove contract prices up 697% since late 2024…
Artificial Bloom
Bloom Energy’s AI data-center fuel-cell growth plans face scrutiny over scandium supply, with Hunterbrook alleging China dependence and…
Credo Technology Deep Dive
Credo Technology sells active copper cables for AI data centers, with revenue rising 126% then 206% as Amazon, Microsoft, Meta, Oracle and…
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