⁠App Economy Insights
Here’s a sneak peek at our July report!  https://t.co/T8gHP3dDs7
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⁠App Economy Insights
$AMZN Amazon Q2 FY24:

• Revenue +10% Y/Y to $148B ($0.8B miss).
• Operating margin 10% (+4pp Y/Y).
• FCF $53B TTM.

☁️ AWS:
• Revenue +19% Y/Y to $26.3B.
• Operating margin 36% (+11pp Y/Y).

Q3 FY24 Guidance:
• Revenue ~$154-$158.5B ($158.3B expected). https://t.co/8fKQ6G6XKK
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⁠App Economy Insights
$AAPL Apple Q3 FY24 (June quarter):

💳 Services +14% Y/Y to $24.2B.
📱 Products +2% Y/Y to $61.6B.

• Revenue +5% Y/Y to $85.8B ($1.4B beat).
• Operating margin 30% (+1pp Y/Y).
• EPS $1.40 ($0.06 beat). https://t.co/lVX92eJfuB
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⁠Brandon Beylo
RT @marketplunger1: My wife watching me buy more junior mining stocks. https://t.co/U9hrUjchMl
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⁠Hidden Value Gems
GMO highlighted the key differences between the Top 10 stocks today and in 2000:

🧵👇🏼

1️⃣ “In 2000, the price-to-earnings ratio of the top 10 was 60x. Earnings had increased by 22% pa in the previous 5 years. Even if the fundamental return expectation of 19% p.a. had been delivered and stock prices held, the top 10’s multiple would have still exceeded 25x by 2005.”

1/4
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⁠Librarian Capital
Reversal in UK bank stocks after yesterday's rate cut

NatWest $NWG down 5.7%
Now 1.1x P/TBV (304p), 5.2% Dividend Yield (17.5p)

Lloyds $LLOY down 8.1%
Now 1.1x P/TBV (496.6p), 5.2% Dividend Yield (2.9p)

Previous research via link on our profile https://t.co/DjSGovL3Dn
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⁠Librarian Capital
Amazon 24Q2 AWS Net Sales +19% y/y to $26.3bn
$9.33bn EBIT implies 35.5% margin

So $AMZN AWS grew less than Big 3 peers

$MSFT Azure & Other Cloud Services sales +29% y/y

$GOOG Google Cloud revenues +29% to $10.3bn in Q2
EBIT nearly tripled ($1.17bn) but still just 11.3% margin https://t.co/MJ0HK9BTnC
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⁠Hidden Value Gems
Quote of the day #56

#CapitalAllocation #Investing #Stocks https://t.co/ygl7JDBWM6
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