FreeMega-cap TechCOST9 min read
COST — trimming into strength
COST chart · D
The thesis
Ad reacceleration plus margin discipline is a combination the market keeps doubting.
Valuation finally rhymes with the growth runway after the de-rate.
What I'm watching
- COST cloud growth vs guide
- COST cloud growth vs guide
- A clean move through the level I flag below
Positioning
Short on COST, 3-10 years horizon. Conviction: Medium. A capex air-pocket would pressure the multiple; position accordingly.
Opinion, not investment advice. The author may or may not hold positions discussed.
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