APP 是当前最好的股票之一：股价下跌 65%，而增长接近 50%，自由现金流增长接近 60%，并预计再增长 50%，其 AI 广告模型具有自我强化效应。它的评分为精英级，但因债务高于现金（3.7 对 3.05）以及广告衰退风险而被扣分。
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其实，我为什么不现在就把它直接展示给你看呢？就是 Arm 和 AppLovin。APP 箭头和 Arm 箭头。你现在看到了吗？
In fact, why don't I literally present it to you right now ? These are Arm and AppLovin. APP arrow and Arm arrow. Have you got them now?
如果你想等，视频最后我会展示我的研究，以及我为什么认为 ARM 和 APP 是当前市场上最好的股票，我还会给你另外九只股票。
If you want to wait, at the end of the video I will show you my research, and how I see ARM and APP as the best stocks currently in the market, and I will also give you the other nine stocks.
我刚才跟你说过，我喜欢 ARM，也喜欢 AppLovin，而且我把这一点展示给了我们 13,500 名直播观众，他们昨天参加了我们的培训研讨会，并和我们一起待了 3 个小时。
I told you a moment ago that I love ARM and I love AppLovin, and I showed that to our 13,500 live viewers who attended our training workshop yesterday and stayed with us for 3 hours.
AppLovin，股价已经下跌了 65%。增长接近 50%。自由现金流增长接近 60%，预测还显示会再增长 50%，而且没错，股价已经下跌了 65%。所以这就是我希望看到的理想情况。我希望股价变得更便宜，而业务变得更好。
AppLovin, the price has dropped by 65%. Growth is approaching 50%. Free cash flow growth is close to 60% and forecasts indicate an additional 50% growth, and yes, the price has decreased by 65%.
So this is the ideal situation I would like to see. I would like to see the price get cheaper, and the business improve.
这就是 AppLovin，对吧？基本上，这就是他们做的事，这就是他们的商业模式。你有带空广告位的应用。AppLovin 挑选广告，并把它展示给一个大概率会付费的客户面前，AppLovin 就是这样赚钱的。
他们从这些广告主和这些公司那里收钱。他们做得越好，拿到的预算就越大，但因为使用机器学习、因为使用人工智能，他们的模型用得越多就越好。所以这是一种典型的自我驱动效应。他们拿到更多预算，模型就改进；拿到更多预算，模型就改进，如此循环。这就是为什么你看到这家公司有如此巨大的增长。
This is AppLovin, isn't it? Basically, this is what they do and this is their business model. You have apps with empty ad spaces. AppLovin selects the ad and places it in front of a customer who is likely to pay, and that's how AppLovin makes its money.
They receive money from these advertisers and from these companies. The better they get at doing it, the bigger the budgets they get, but because they use machine learning and because they use artificial intelligence, their model gets better the more it is used.
So this is a classic self-propulsion effect. They get more budgets, so the model improves; they get more budgets, so the model improves, and so on. That's why you see this tremendous growth in this company.
数据不会说谎。营收约 70 亿。营业利润率约 80%。自由现金流为 45 亿。40 法则，我没开玩笑，是 113.8，是股市里最好的之一。是的，这只股票大幅下跌了 65%。这是评分卡。
我用我的积分卡给它打了分，满分是 125 分。125 分是最高分。它丢了分，不是丢了钱，而是丢了分，因为它的债务略多于现金，3.7 对 3.05，它还因为无法免受经济衰退影响而丢分，因为任何与广告相关的东西都无法免受经济衰退影响。
一家精英级别的公司。是我们见过的最高结果之一。再说一次，这只股票下跌了 65%。
Data doesn't lie. Revenues of approximately 7 billion. The operating margin is approximately 80%. Free cash flow is 4.5 billion . The 40 rule, I'm not kidding, is 113.8, which is one of the best in the stock market.
Yes, the stock is significantly down by 65%. This is the scorecard . I have evaluated it using my points card, which has 125 points. 125 points is the maximum. It lost points, not money, but points because it has slightly more debt than cash, 3.7 versus 3.05, and it also lost because it is not immune to recessions, as anything related to advertising is not immune to recessions.
An elite-level company. One of the highest results we've seen. Once again , the stock is down 65%.