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.
Calvin Blissett on X
$CCLD $YB $CCOI $BOC $AMR $HCC $CNR $METC $USIO $HHS $HY $ARKO $SLM https://t.co/XRRQSpa8YO
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.
Kuppy on X
Florida is the last sane place in USA. Got $JOE…?? https://t.co/RJLt2GPIFB
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
Investor Letters
All letters- Rathbones October 2026 SBGSF $143BSIEGY $237B
- FCL Capital October 2026 ANPDF $28BASML $575B
- Protean Funds October 2026 AAK $4.7BLFABF $13B
- JB Global Capital Q3 2026 BABA $262BPYPL $49B
- Pendelhaven Asset Management B.V. Q3 2026 ALM $2.5BJXN $8.8B
- Chautauqua Capital Management Q3 2026 AAIGF $103BADYEY $32B
- Rathbones Q3 2026 GOOGL $3.5T
- Night Watch Investment Management Q3 2026 AZLGF $3.3BIMCDY $6.7B
Trading Post November 5, 2026
MercadoLibre’s logistics expansion cut margins by 60 basis points, while Mercado Pago grew credit 62% with 7% NPLs.
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
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Problems at Twist Bioscience (TWST)
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VSH Earnings Review
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This Week in Special Situations: Lear, AutoNation, NexPoint, AudioCodes, Xponential Fitness
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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
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Delta Air Lines Is Worth Buying Despite Near-Term Pressure
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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…
IOND · long Ionic Digital INC
Ionic Digital (IOND) is pitched as a legacy bitcoin miner shifting into AI infrastructure, with Nscale’s Microsoft-backed, NVIDIA-linked…
Our Views on CoreWeave
CoreWeave's financial statements point to a business model familiar to the authors after a closer review of the AI infrastructure company.
One Thing I Learned: Thanks to AI, Nubank is Handing Out More Credit Per Customer
Nubank raised credit limits 30% year over year while 90-plus-day delinquencies held at 6.4% to 7.0%, citing AI-driven underwriting models.
DigitalOcean's AI Flywheel: Unleashing Massive Growth Potential For Bold Investors
DigitalOcean is pivoting toward affordable AI infrastructure and inference workloads, targeting share from AWS and Google Cloud amid…
Star Investments 9 clicks
Bloom Energy (NYSE: BE) Q3 FY12/26 Earnings - Revenue Up 138% On The Datacenter Power Race
Bloom Energy’s Q3 FY26 revenue rose 138% to $1.24 billion as datacenter power orders lifted operating margin to 18%; capex drove $181…
Philip Morris: Taking the Fight to the U.S.
Philip Morris reported Q3 growth across heated tobacco, combustibles and e-vapor in Europe while gaining U.S. nicotine-pouch share.
Amazon’s Trainium Takes a Strike at the Training King
Amazon’s Trainium3 adds native PyTorch training support, targeting CUDA-trained researchers with standard APIs, eager mode and…
Alphabet: Gemini 4 Argon Is Coming For ChatGPT's Lunch
Alphabet's Gemini 4 Argon aims to undercut rival AI models using proprietary TPUs, while Android, Siri and Google Cloud distribution…
Dustin Quasney 3 clicks
Capital Wars
CoreWeave’s $35 billion to $39 billion 2026 spending plan relies on debt as unsecured yields reach 15%, making its GPU cloud expansion a…
Spotify 3Q’26: Built for the Background
Spotify's third-quarter results met or exceeded guidance, with 306 million Premium subscribers and €672 million operating income, while…
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