$SHOP · Financial Education · 2026-11-04
SHOP 是看多的长期持仓，是他第六大持仓、约占 7%；他称其为市值超 1,000 亿美元公司中最被低估的一家。最新季度评为 A 级：营收 +32%、营业利润 +66%，但因轻微成本问题总利润仅 +28%；第四季度营收增速指引低于 30%，但他仍认为这是一家值得更多关注的优秀公司。
逐段跳播
接下来，我们来看一只额外赠送的股票。这是我见过的市值超过 1000 亿美元的最被低估的股票，却没有人谈论它。好吧，先听我说。如果我带你回到 2019 年到 2021 年，这只股票实际上是当时最受关注的科技股之一。
事实上，2019 年有很多关于这只股票的讨论，因为他们的增长率巨大。然后 2020 年疫情来了，公司的增长又达到了一个新的高度，当时他们处于许多事情的中心。所以人们把这只股票视为终极股票，这种情况一直持续到 2021 年。
人们对这家公司如此疯狂，简直难以置信，因为它是如此受欢迎和被谈论，然后一切都结束了。现在的问题是，为什么结束了？好吧，它发生了。该股从 2021 年的高点跌至 2022 年的低点，跌幅达 85%，85%。
这只股票被彻底摧毁了。当一只股票的价格这样下跌时，很多人就不再理会它了。他们停止了讨论。它完全淡出了人们的视线。与此同时，这家公司多年来一直表现出色。而自 2022 年那个底部以来，该股已上涨近 500%。
是不是这样？基本上，它现在又回到了此前的历史高点附近。是不是这样？所以，如果你在新冠疫情期间或 2021 年股价达到顶峰时买入这只股票，你可能会想：“这只股票太糟糕了。”但是，如果你在 2022 年、2023 年甚至 2024 年买入这只股票，你会从中赚很多钱。很多钱。这只股票就是 Shopify。
Next, let's move on to a bonus stock. The most undervalued stock I've ever seen with a market cap of over $100 billion , which no one talks about. Well, listen first. If I take you back to 2019 to 2021, this stock was actually one of the most talked about tech stocks.
In fact, there was a lot of talk about this stock in 2019 because their growth rate was huge. Then Corona came in 2020 and the company's growth reached another height, and at that time they were at the center of many things.
So people saw this stock as the ultimate stock and it continued until 2021. People were so crazy about this company , it was unbelievable because it was so popular and talked about, and then it was all over.
Now the question is, why did it end? Well, it happened. The stock fell 85% from its 2021 high to its 2022 low, 85%. The stock was completely destroyed. And when the price of a stock drops like this, many people don't bother with it anymore.
They stopped discussing it. And it completely fades into oblivion. Meanwhile, this company has been showing excellent results for years. And since that bottom in 2022, the stock has risen nearly 500%.
Isn't that right ? And basically, it's now back near its old all-time high. Isn't that right ? So, if you bought the stock during the coronavirus pandemic or when its price was at its peak in 2021, you might think, "This stock is awful."
But, if you had bought the stock in 2022, 2023, or even 2024, you would have made a lot of money on it. A lot of money. And this stock is Shopify.
Shopify。Shopify。Shopify。Shopify。这是我 Patreon 投资组合中的第六大持仓。所以，如果你是我的 Patreon 会员，你就知道 Shopify，对吧？
排名第六，权重约 7%。我在这只股票上盈利 131%。
Shopify. Shopify. Shopify. Shopify. This is my sixth largest position in my Patreon portfolio. So, if you're a member of my Patreon, you know about Shopify, right? In sixth position, with a weighting of about 7%. I am 131% profit on this stock.
他们昨天刚刚发布了财报。A 级营收增长了 32%。你能数出多少家公司可以指望营收增长超过 30%？这家公司太棒了。目前，他们有一个轻微的成本问题。因此，总利润同比仅增长了 28%。
但随后，运营费用方面，他们实际上控制住了很多方面。因此，总运营费用仅增长了 16%。是不是这样？公司的运营收入同比增长了 66%。净利润增长了 75%，剔除股权投资影响后的净利润增长了 59%。
这对 Shopify 来说是一个很棒的 A 级业绩。
They just released their earnings report yesterday. Grade A revenue increased by 32%. How many companies are there that you can count on to grow revenue by more than 30%? This company is amazing.
For now, they had a slight cost problem. Therefore, total profit increased by only 28% compared to the previous year. But then the operating expenses, they've actually kept a lot of things under control.
Therefore, total operating expenses increased by only 16%. Isn't that right? The company's operating income increased by 66% compared to the previous year. Net income increased by 75% and net income excluding the impact of equity investments increased by 59%. This is a great Grade A result for Shopify.
但你知道还发生了什么吗？他们对第四季度的指引已经出来了。营收将比去年同期增长不到30%。多么强大的公司。所以，就像我说的，现在没什么可争议的了。它不太被谈论，但它是一家每年都展现出非凡业绩的伟大公司。我认为它值得更多关注，你同意吗？
But you know what else happened? Their guidance for the fourth quarter has arrived. Revenue will increase by less than 30 percent compared to the previous year. What a powerful company.
So, like I said, there's no more fuss about it now. It's not talked about much, but it's a great company that shows extraordinary results every year. And I think it deserves more attention, do you agree?