Mark Roussin, CPA 对 $APP 的判断变化
现在，让我们来看第二只股票，那就是 AppLovin，股票代码 A。在我刚刚告诉你没有科技股之后，这听起来可能很奇怪。AppLovin 实际上被正式归类为通信服务公司，而不是科技公司。
但我们要明确，这绝对是一家 AI 驱动的成长型公司。它是 AI 真正创造可衡量经济价值的绝佳例子。
Now, let's move to stock number two, which is going to be Apploven, stock ticker A. Now, this one is going to sound strange after I just told you that there aren't any technology stocks. Apploving is actually officially classified as a communication services company, not a tech company. But let's be clear, this is absolutely an AIdriven growth company. And it's a great example of AI actually creating measurable economic value.
让我解释一下 AppLovin 做什么。AppLovin 帮助广告主找到客户，这是最简单的解释。其广告平台使用机器学习和 AI 来决定广告应该被谁看到、何时看到、广告主应该支付多少、客户转化的可能性有多大。
这正是我喜欢的那种 AI 应用。企业不在乎某物是否使用 AI，他们在乎三个字母：ROI。如果 AppLovin 的模型能为广告主带来更好的回报，那么广告主就愿意花更多钱。AppLovin 赚得更多，飞轮效应更强。
So let me explain what AppLovven does. Apploven helps advertisers find customers. That's the simplest explanation. Its advertising platform uses machine learning and AI to determine who should an advertisement be seen by, when should they see it, how much should an advertiser pay, how likely is that customer to convert. And this is exactly the type of AI application I love. Businesses don't care that something uses AI. They care about three letters, ROI. If apploving models can generate better returns for advertisers, well, then advertisers want to spend more. Apploving earns more. and the flywheel gets stronger.
那么，催化剂是什么？我现在在关注什么？是 AppLovin 向游戏以外的领域扩张。如果管理层能够成功将其广告技术带入更广泛的电子商务和网络广告，可寻址市场将变得巨大，这就是上行空间。
So, what's the catalyst? What am I watching now? Is Apploven's expansion beyond gaming. If management can successfully take its advertising technology into broader e-commerce and web advertising, the addressable market becomes dramatically larger, and that's the upside.
但风险是什么？嗯，预期非常高。当你被定价为卓越时，好的结果并不总是足够好。但我们在八月份看到的是股价下跌。公司公布了财报，第二天遭遇了最严重的抛售，自 2025 年底见顶以来，股价已下跌超过 50%。
这并不意味着从这里开始会直线上升。所以，看这只股票时，要明白需要时间，但很多风险已经在某种程度上被消除了。
But what's the risk? Well, expectations are extremely high. When you are priced for excellence, good results aren't always good enough. But what we saw in the month of August was paying for the stock. The company reported earnings and the day after suffered its worst sell-off and since peaking at the end of 2025, shares are down more than 50%. Now, this doesn't mean it's straight up from here. So, when looking at this stock, understand time is needed, but a lot of the risk has been taken out to a degree.
我们谈论的是一只曾经市盈率超过 60 倍的股票，今天我们看到它的远期市盈率为 15 倍。而分析师预计明年盈利增长近 30%，使该股的 PEG 比率远低于 1。我喜欢这个估值。当你在这里看股票投资者边缘网站时，我们可以看到该公司的边缘得分为 82。
同样，非常强劲。这是一家值得在九月份观察名单上强烈考虑的公司，尤其是在我们最近看到的下跌之后。
As we are talking about a stock that once had earnings multiple above 60x, today we see it trading at a forward earnings multiple of 15x. While analysts expect near 30% earnings growth next year, giving the stock a PEG ratio well below one. I like that valuation. And when you look here at the stock investors edge site, we can see the company sports an edge score of 82. Again, very strong. This is a company to strongly consider having on your September watch list, especially after the downturn we saw recently.
优步、出行、配送、自动驾驶或应用商店、AI 广告。
Uber, mobility, delivery, autonomy or apploven, AI advertising.