App Economy Insights
Amazon just flipped the AI script.

Let’s break it down:

💰 Still capacity-constrained.
☁️ AWS reaccelerates to 20% Y/Y.
📢 $AMZN Ads now a $17B engine.

Now what to make of the OpenAI deal?👇
https://t.co/Z1MO4eeoJV
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App Economy Insights
$SPOT Spotify Q3 FY25:

• MAU +11% to 713M.
• Premium Subs +12% to 281M.
• Revenue +7% Y/Y to €4.3B (€40M beat).
• Operating margin (14%) (+2pp Y/Y).

Q4 FY25 Guidance:
• MAU +10% Y/Y to 745M.
• Revenue +6% Y/Y to €4.5B (6pp fx headwind). https://t.co/6XYxYSMKI0
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Quiver Quantitative
JUST IN: A Polymarket trader just bet $32K that Mikie Sherrill will lose the New Jersey governor election today.

They also bet $34K against Zohran Mamdani.

They could win up to $610K, but the odds are low. https://t.co/ElOJXBV0u0
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App Economy Insights
$UBER Uber Q3 FY25:

• Gross bookings +21% Y/Y to $49.7B.
• Revenue +20% Y/Y to $13.5B ($240M beat).
• Adj. EBITDA +33% Y/Y to $2.3B.

Q4 FY25 guidance:
• Gross bookings +19% Y/Y to ~$53B.
• Adj. EBITDA +31% to +36% Y/Y. https://t.co/DW9Q8IW2bW
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App Economy Insights
$SHOP over the last 5 years.

Revenue nearly quadrupled.

~30% growth. Every year.

That’s what durable growth looks like. https://t.co/WW4G3APQGn
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AkhenOsiris
$ORCL

Just $10 away from filling the massive gap now

$ORCL new lows since the massive earns gap up 👀 - AkhenOsiris
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AkhenOsiris
Late to the game $AMZN may have went with the right horse if Anthropic projections pan out.

AWS can also be a multi-yr mid 20s grower
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Quiver Quantitative
JUST IN: President Trump just said that Democrats are far more likely to win the midterms if the GOP doesn't get rid of the filibuster.

Republican Senators have been very hesitant to use this "nuclear option".
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Dimitry Nakhla | Babylon Capital®
There are several respected investors who have long stayed away from companies like $GOOG, $AMZN, $MSFT & $META — skeptical of the returns on the enormous capital expenditures tied to cloud and AI infrastructure.

I understand the concern, but I don’t think that’s the right conclusion.

These businesses are building the digital backbone of the next decade, and exposure to them still remains beneficial.

At the same time, I’ve found it important to balance those “builders” with the cash cows — $MA, $V, $SPGI, $FICO etc — businesses with exceptional FCF margins, durable moats, and minimal capital requirements.

𝐓𝐡𝐚𝐭 𝐜𝐨𝐦𝐛𝐢𝐧𝐚𝐭𝐢𝐨𝐧 𝐚𝐥𝐥𝐨𝐰𝐬 𝐚 𝐩𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐭𝐨 𝐩𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐀𝐈 𝐚𝐧𝐝 𝐜𝐥𝐨𝐮𝐝 𝐛𝐮𝐢𝐥𝐝𝐨𝐮𝐭 𝐰𝐡𝐢𝐥𝐞 𝐫𝐞𝐦𝐚𝐢𝐧𝐢𝐧𝐠 𝐫𝐞𝐬𝐢𝐥𝐢𝐞𝐧𝐭 𝐢𝐟 𝐭𝐡𝐞 𝐂𝐚𝐩𝐄𝐱 𝐜𝐲𝐜𝐥𝐞 𝐜𝐨𝐨𝐥𝐬 𝐨𝐫 𝐬𝐞𝐧𝐭𝐢𝐦𝐞𝐧𝐭 𝐬𝐡𝐢𝐟𝐭𝐬.

The builders power the future; the cash cows become even more efficient by leveraging AI within their own operations — expanding margins, driving automation, & compounding value quietly in the background.

Lately, we’ve seen many quality compounders sold down to compelling valuations, while capital has chased anything labeled “AI,” even pre-revenue businesses now worth tens of billions.

𝘛𝘩𝘢𝘵 𝘥𝘺𝘯𝘢𝘮𝘪𝘤 𝘭𝘪𝘬𝘦𝘭𝘺 𝘸𝘰𝘯’𝘵 𝘭𝘢𝘴𝘵 𝘧𝘰𝘳𝘦𝘷𝘦𝘳.

Eventually, when the market begins to see cracks in AI-related CapEx or re-evaluates growth expectations, capital will likely rotate back toward predictable, high-margin compounders quietly executing in the background.

It’s not about being contrarian against AI — it’s about being contrarian within quality.

The great opportunities often come from owning world-class businesses everyone’s temporarily disinterested in.
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Quiver Quantitative
BREAKING: The Department of Transportation has said it may need to shut down airspace in some parts of the country if the shutdown continues into next week.
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Quiver Quantitative
Representative Byron Donalds sold Fiserv stock on September 4th.

Fiserv is a financial services company.

Donalds sits on the House Financial Services Committee.

$FI has now fallen 52% since his sale. https://t.co/VVhIExesFY
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