[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"app-context":3,"blog-spotify-is-highly-defensible-against-ai-says-jefferies-its-october-22-report-has-to-prove-it-EN":222},{"languages":4,"categories":41,"products":125,"competitors":149},[5,9,13,17,21,25,29,33,37],{"name":6,"code":7,"id":8},"English","EN","TGFuZ3VhZ2U6ZW4=",{"name":10,"code":11,"id":12},"Español","ES","TGFuZ3VhZ2U6ZXM=",{"name":14,"code":15,"id":16},"Português","PT","TGFuZ3VhZ2U6cHQ=",{"name":18,"code":19,"id":20},"日本語","JA","TGFuZ3VhZ2U6amE=",{"name":22,"code":23,"id":24},"한국어","KO","TGFuZ3VhZ2U6a28=",{"name":26,"code":27,"id":28},"Deutsch","DE","TGFuZ3VhZ2U6ZGU=",{"name":30,"code":31,"id":32},"Italiano","IT","TGFuZ3VhZ2U6aXQ=",{"name":34,"code":35,"id":36},"Français","FR","TGFuZ3VhZ2U6ZnI=",{"name":38,"code":39,"id":40},"中文 (中国)","ZH","TGFuZ3VhZ2U6emg=",[42,73,104],{"icon":43,"slug":44,"title":45,"description":46,"featuredLinks":47},"mingcute:stock-line","stock-market-basics","Stock Market Basics","\u003Cp>Beginners' guides and practical tips for understanding stock market investing.\u003C\u002Fp>\n",[48,53,58,63,68],{"url":49,"title":50,"description":51,"ogImage":52},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-makes-stocks-go-up-and-down","What Makes Stocks Go Up and Down | TIKR.com","Understanding what makes stock prices go up and down can help investors better navigate investing. Click to learn more!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-makes-stocks-go-up-and-down-banner\u002FWhat-makes-stocks-go-up-and-down-banner.jpg?_i=AA",{"url":54,"title":55,"description":56,"ogImage":57},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fdividend-yield-meaning-formula-example","Dividend Yield: Meaning, Formula, Example | Tikr.com Blog | TIKR.com","The dividend yield is a key metric for investors looking to gauge the income potential of their investments. It measures how much a company pays out in","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FDividend-yield\u002FDividend-yield.png?_i=AA",{"url":59,"title":60,"description":61,"ogImage":62},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fmarket-capitalization-definition-formula-and-why-it-matters","Market Capitalization: Definition, Formula, and Why It Matters | TIKR.com","Long-term investors often look at various valuation metrics when deciding whether to invest in a particular company. One helpful metric to evaluate is","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FMarket-Capitalization-Definition-Formula-and-Why-It-Matters\u002FMarket-Capitalization-Definition-Formula-and-Why-It-Matters.png?_i=AA",{"url":64,"title":65,"description":66,"ogImage":67},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fearnings-per-share-definition-formula-and-why-eps-matters","Earnings Per Share: Definition, Formula, and Why EPS Matters | TIKR.com","Earnings Per Share (EPS) represents the portion of a company's net earnings allocated to each share. Click to learn more!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FEPS-Defiinition-formula-and-why-EPS-matters-1\u002FEPS-Defiinition-formula-and-why-EPS-matters-1.png?_i=AA",{"url":69,"title":70,"description":71,"ogImage":72},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-stock-price-target","What Is a Stock Price Target? | TIKR.com","A price target is a stock's estimated future price. It can help investors quickly find undervalued stocks. Learn more now!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-Stock-Price-Target-2\u002FWhat-is-a-Stock-Price-Target-2.png?_i=AA",{"icon":74,"slug":75,"title":76,"description":77,"featuredLinks":78},"material-symbols:analytics-outline","fundamental-analysis","Fundamental Analysis","\u003Cp>In-depth resources and financial metrics to help you evaluate companies like a pro.\u003C\u002Fp>\n",[79,84,89,94,99],{"url":80,"title":81,"description":82,"ogImage":83},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fshare-repurchase-why-do-companies-buy-back-their-stock","Share Repurchase: Why Do Companies Buy Back Their Stock? | TIKR.com","Share repurchases, or share buybacks, have gained popularity in the last two decades. According to a report from Goldman Sachs, stock buybacks initiated","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FTIKR-BLOG-COVER-PHOTOS-3_544a7f4e\u002FTIKR-BLOG-COVER-PHOTOS-3_544a7f4e.png?_i=AA",{"url":85,"title":86,"description":87,"ogImage":88},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-good-return-on-invested-capital","What Is a Good Return on Invested Capital? | TIKR.com","Learning about Return on Invested Capital (ROIC) can help investors spot highly profitable stocks that can drive long-term returns. Learn more now!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-good-return-on-Invested-capital\u002FWhat-is-a-good-return-on-Invested-capital.png?_i=AA",{"url":90,"title":91,"description":92,"ogImage":93},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-good-return-on-equity-ratio","What is a Good Return on Equity Ratio | Tikr.com Blog | TIKR.com","Return on Equity (ROE) is a financial ratio that reflects a company's profitability in relation to the equity invested by shareholders. It basically","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-good-return-on-equity-ratio-1\u002FWhat-is-a-good-return-on-equity-ratio-1.jpg?_i=AA",{"url":95,"title":96,"description":97,"ogImage":98},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-good-p-e-ratio","What Is a Good P\u002FE Ratio? | TIKR.com","Financial analysts and investors look at various metrics before deciding whether a stock is a buy. One of the metrics is the price-to-earnings ratio (P\u002FE","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-good-PE-ratio-1\u002FWhat-is-a-good-PE-ratio-1.jpg?_i=AA",{"url":100,"title":101,"description":102,"ogImage":103},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Ftop-6-metrics-for-investing-in-reits","Top 6 Metrics for Investing in REITs | TIKR.com","Real estate has been one of the greatest asset classes for wealth creation in history, and investing in Real Estate Investment Trusts (REITs) can allow","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FGroup-10\u002FGroup-10.png?_i=AA",{"icon":105,"slug":106,"title":107,"description":108,"featuredLinks":109},"hugeicons:investigation","investing-lingo","Investing Lingo","\u003Cp>A comprehensive glossary of investing terms and jargon so you can speak the language of the markets confidently.\u003C\u002Fp>\n",[110,115,120],{"url":111,"title":112,"description":113,"ogImage":114},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fenterprise-value-definition-and-calculation","Enterprise Value: Definition and Calculation | Tikr.com Blog | TIKR.com","Enterprise value (EV) is a financial metric that offers a comprehensive snapshot of a company's total value. Unlike market capitalization which solely","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FEnterprise-Value-Definition-and-Calculation_37576e40\u002FEnterprise-Value-Definition-and-Calculation_37576e40.png?_i=AA",{"url":116,"title":117,"description":118,"ogImage":119},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Febitda-definition-formula-how-to-use-it","EBITDA: Definition, Formula, How to Use It | TIKR.com","EBITDA stands for earnings before interest, taxes, depreciation and amortization. It's a financial metric commonly used to evaluate a company's financial","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FEBITDA-Definition-Formula-How-to-Use-It\u002FEBITDA-Definition-Formula-How-to-Use-It.png?_i=AA",{"url":121,"title":122,"description":123,"ogImage":124},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-the-free-cash-flow-formula-and-why-does-it-matter","What is the Free Cash Flow Formula and Why Does It Matter | TIKR.com","Free cash flow, or FCF, is the cash a company generates after it accounts for outflows required to maintain business operations and support capital","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-the-free-cash-flow-formula\u002FWhat-is-the-free-cash-flow-formula.png?_i=AA",[126,130,134,137,141,145],{"slug":127,"modified":128,"title":129},"valuation-model-builder","2025-07-03T00:18:53","Value Stocks Quickly and Accurately",{"slug":131,"modified":132,"title":133},"stock-portfolio-tracking","2024-12-02T22:21:28","Monitor Your Portfolio",{"slug":75,"modified":135,"title":136},"2025-01-21T22:10:52","Instantly Analyze Companies with In-Depth Metrics",{"slug":138,"modified":139,"title":140},"stock-screener","2024-12-02T22:13:31","Find the Best Stocks to Buy",{"slug":142,"modified":143,"title":144},"investor-stock-portfolio","2025-01-21T22:02:56","Follow Investment Moves of Top Investors",{"slug":146,"modified":147,"title":148},"analyze-stocks","2025-07-23T16:04:24","Analyze Stocks",[150,154,158,162,166,170,174,178,182,186,190,194,198,202,206,210,214,218],{"slug":151,"title":152,"modified":153},"bloomberg","Bloomberg","2025-01-16T14:23:44",{"slug":155,"title":156,"modified":157},"morningstar","Morningstar","2025-01-16T14:25:16",{"slug":159,"title":160,"modified":161},"sentieo","Sentieo","2025-01-16T17:58:27",{"slug":163,"title":164,"modified":165},"googlefinance","Google Finance","2025-01-17T19:39:37",{"slug":167,"title":168,"modified":169},"tradingview","TradingView","2025-01-16T18:17:01",{"slug":171,"title":172,"modified":173},"factset","Factset","2025-01-16T18:20:16",{"slug":175,"title":176,"modified":177},"finviz","Finviz","2025-01-16T18:23:40",{"slug":179,"title":180,"modified":181},"ycharts","YCharts","2025-01-16T18:32:19",{"slug":183,"title":184,"modified":185},"marketbeat","MarketBeat","2025-03-11T00:27:23",{"slug":187,"title":188,"modified":189},"benzinga","Benzinga","2025-03-11T00:31:00",{"slug":191,"title":192,"modified":193},"gurufocus","Gurufocus","2025-03-11T00:31:12",{"slug":195,"title":196,"modified":197},"fast-graphs","FAST Graphs","2025-03-11T00:31:19",{"slug":199,"title":200,"modified":201},"tipranks","TipRanks","2025-03-11T00:31:26",{"slug":203,"title":204,"modified":205},"seeking-alpha","Seeking Alpha","2025-03-11T00:31:45",{"slug":207,"title":208,"modified":209},"thestreet","TheStreet","2025-03-11T00:31:52",{"slug":211,"title":212,"modified":213},"investing-com","Investing.com","2025-03-11T00:32:00",{"slug":215,"title":216,"modified":217},"zacks","Zacks","2025-03-26T15:40:40",{"slug":219,"title":220,"modified":221},"alphasense","AlphaSense","2025-03-11T00:32:15",{"post":223,"seo":259,"relatedPosts":265,"suggestedPosts":344},{"id":224,"title":225,"date":226,"modified":227,"excerpt":228,"content":229,"wordCount":230,"lang":231,"uri":232,"slug":233,"cloudinaryAssetId":234,"featuredImageOriginalUrl":235,"featuredImageMetadata":236,"author":239,"editor":245,"categories":250,"relatedPosts":256,"seo":257},142586,"Spotify Is “Highly Defensible” Against AI, Says Jefferies. Its October 22 Report Has to Prove It","2026-10-26T15:45:14","2026-10-26T15:45:23","\u003Cp>Watch the margins on Thursday, not just the subscriber count\u003C\u002Fp>\n","\n\u003Ch2 id=\"h-key-takeaways\" class=\"wp-block-heading\">Key Takeaways\u003C\u002Fh2>\n\n\n\n\u003Cul class=\"wp-block-list\">\n\u003Cli>Jefferies raised its Spotify price target to $620 from $600 and called the platform highly defensible against AI, while the stock is down 8.5% in 2026.\u003C\u002Fli>\n\n\n\n\u003Cli>Margins are the best test of that call, because a business losing ground to AI shouldn’t be able to keep raising prices and keep more of every euro.\u003C\u002Fli>\n\n\n\n\u003Cli>Spotify guided to a 32.9% gross margin and €670 million of operating income for the third quarter, after 33.4% and €655 million in the second.\u003C\u002Fli>\n\n\n\n\u003Cli>At about 35x forward earnings, the stock gets cheaper quickly if margins keep climbing, though a soft subscriber count or Q4 outlook could still overshadow a strong margin print.\u003C\u002Fli>\n\u003C\u002Ful>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">\u003Cstrong>Spotify (\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fstock\u002Fabout?cid=225595077&tid=557021480\">SPOT\u003C\u002Fa>)\u003C\u002Fstrong> stock is down 8.5% in 2026 (through Tuesday’s close), as investors worry about what AI could do to a subscription music business.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Jefferies thinks the market has it wrong, and Spotify gets its chance to show which side is right when it reports third-quarter results before the open on Thursday, Oct. 22.\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-what-jefferies-is-betting-on\" class=\"wp-block-heading\">What Jefferies is betting on\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">On Tuesday, Jefferies kept its Buy rating and raised its price target to $620 from $600, about 18% above Tuesday’s close. Analyst James Heaney called Spotify’s platform “highly defensible against AI disintermediation fears.”\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">His reasons: expectations are muted, he expects operating expense growth to peak this quarter, and he sees advertising improving as programmatic sales become a bigger part of the business. (Ads could use the help: ad-supported revenue grew just 1% in the second quarter.) He also expects price increases in the US and UK within the next six to 12 months.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Then there’s the AI angle. Jefferies sees a possible launch announcement later this year for an AI-powered remixing product tied to Spotify’s partnership with Warner Music Group. But its base case includes no AI revenue at all, so none of that $620 depends on AI paying off.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">\u003Cstrong>TIKR tracks 40 analysts on Spotify. How many say “Buy”?\u003C\u002Fstrong>\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">See the full breakdown of Buy, Hold, and Sell ratings on Spotify, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. \u003Ca href=\"https:\u002F\u002Fwww.tikr.com\u002Fvaluation-model-builder?ref=tikrblog\">See Spotify’s Analyst Ratings\u003C\u002Fa>\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-pricing-power-shows-up-in-margins\" class=\"wp-block-heading\">Pricing power shows up in margins\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">If AI were really pulling listeners away from Spotify, pricing is where you’d see it first. People who have somewhere better to go don’t keep paying more.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Spotify’s subscribers keep paying more. In the second quarter, Premium revenue grew 15% to €4.33 billion, from 9% more subscribers and 7% higher revenue per user.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Those price increases have widened the gross margin, from 25.0% in 2022 to 32.0% in 2025…\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image size-full\">\u003Cimg width=\"3024\" height=\"2016\" data-public-id=\"images\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025.png\" loading=\"lazy\" decoding=\"async\" src=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_3024,h_2016,c_scale\u002Ff_webp,q_auto\u002Fv1792595254\u002Fimages\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025.png?_i=AA\" alt=\"Line chart from TIKR of Spotify's gross margin (%), fiscal 2021–2025.\" class=\"wp-post-142586 wp-image-142584\" data-format=\"webp\" data-transformations=\"f_webp,q_auto\" data-version=\"1792595254\" data-seo=\"1\" srcset=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Ff_webp,q_auto\u002Fv1792595254\u002Fimages\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025.png?_i=AA 3024w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792595254\u002Fimages\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025.png?_i=AA 600w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1200,h_800,c_scale\u002Ff_webp,q_auto\u002Fv1792595254\u002Fimages\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025.png?_i=AA 1200w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1400,h_933,c_scale\u002Ff_webp,q_auto\u002Fv1792595254\u002Fimages\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025.png?_i=AA 1400w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_300,h_200,c_scale\u002Ff_webp,q_auto\u002Fv1792595254\u002Fimages\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_gross_margin_2021-2025.png?_i=AA 300w\" sizes=\"auto, (max-width: 3024px) 100vw, 3024px\" \u002F>\u003Cfigcaption class=\"wp-element-caption\">Spotify (SPOT): gross margin (%), fiscal 2021–2025 (\u003Cstrong>TIKR\u003C\u002Fstrong>)\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">…and it reached 33.4% in the second quarter of 2026, up 193 basis points from a year earlier.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">The gains are making it to the bottom line, too. Operating margin went from -5.6% in 2022 to 12.8% in 2025:\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image size-full\">\u003Cimg width=\"3024\" height=\"2016\" data-public-id=\"images\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025.png\" loading=\"lazy\" decoding=\"async\" src=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_3024,h_2016,c_scale\u002Ff_webp,q_auto\u002Fv1792595246\u002Fimages\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025.png?_i=AA\" alt=\"Line chart from TIKR of Spotify's operating (EBIT) margin (%), fiscal 2021–2025.\" class=\"wp-post-142586 wp-image-142585\" data-format=\"webp\" data-transformations=\"f_webp,q_auto\" data-version=\"1792595246\" data-seo=\"1\" srcset=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Ff_webp,q_auto\u002Fv1792595246\u002Fimages\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025.png?_i=AA 3024w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792595246\u002Fimages\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025.png?_i=AA 600w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1200,h_800,c_scale\u002Ff_webp,q_auto\u002Fv1792595246\u002Fimages\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025.png?_i=AA 1200w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1400,h_933,c_scale\u002Ff_webp,q_auto\u002Fv1792595246\u002Fimages\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025.png?_i=AA 1400w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_300,h_200,c_scale\u002Ff_webp,q_auto\u002Fv1792595246\u002Fimages\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025\u002F2026-10-21_iee9abd977d_SPOT_operating_margin_2021-2025.png?_i=AA 300w\" sizes=\"auto, (max-width: 3024px) 100vw, 3024px\" \u002F>\u003Cfigcaption class=\"wp-element-caption\">Spotify (SPOT): operating (EBIT) margin (%), fiscal 2021–2025 (\u003Cstrong>TIKR\u003C\u002Fstrong>)\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">It was 13.7% in the second quarter, on €655 million of operating income. Over the twelve months through June, free cash flow came to €3.3 billion, up from €2.9 billion for 2025.\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-the-bar-for-thursday\" class=\"wp-block-heading\">The bar for Thursday\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Spotify guided to a 32.9% gross margin for the third quarter, along with €670 million of operating income on about €5.0 billion of revenue, which works out to roughly a 13.4% operating margin.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">That’s a step down from the second quarter. Jefferies puts it down to seasonal factors and a regulatory charge that has historically taken 30 to 40 basis points off the margin, and it expects investors to look for about 33.1%. The fourth-quarter outlook matters as much: Jefferies cut its own Q4 gross margin forecast to about 33.7% from 34.3%, since 2026 has been an investment year.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Spotify doesn’t always trade on its margins, though. In August, the gross margin beat guidance and the stock still fell 3.4% after an earnings miss. So a subscriber count short of the 305 million guide, or a cautious Q4 outlook, could outweigh a good margin print.\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-a-valuation-gap-if-the-margins-hold\" class=\"wp-block-heading\">A valuation gap, if the margins hold\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Spotify trades at about 35x forward earnings. Analysts expect 2026 earnings per share to grow about 16%, a bit faster than revenue. Each extra point of margin pushes earnings growth further ahead of revenue growth, and that brings the multiple down quickly.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Management has put money behind the stock, too: Spotify \u003Ca href=\"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fspotify-renewed-joe-rogan-and-added-1-5-billion-to-buybacks-heres-what-q3-could-bring\">added $1.5 billion to its buyback\u003C\u002Fa> heading into the report.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">My take: Spotify’s margins have done everything a defensible platform’s margins should, and at 35x forward earnings the stock is priced as if that’s about to stop. If Thursday’s margin holds at or above guidance and the Q4 outlook keeps it climbing, the AI fear is a valuation gap, and Jefferies’ $620 looks reasonable.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">Of course, the US and UK price increases Jefferies expects haven’t been announced yet, and they’re what keeps this margin story going into 2027.\u003C\u002Fp>\n\n\n\n\u003Ch2 id=\"h-so-what-is-spotify-stock-actually-worth\" class=\"wp-block-heading\">So what is Spotify stock actually worth?\u003C\u002Fh2>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">TIKR lets you forecast the future price of any stock in less than a minute. Just enter a few assumptions into TIKR’s valuation model and see what Spotify could be worth. Start from Wall Street consensus estimates, or adjust the inputs to reflect your own view of the business. It’s free to use.\u003C\u002Fp>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">\u003Ca href=\"https:\u002F\u002Fwww.tikr.com\u002Fvaluation-model-builder?ref=tikrblog\">Value Spotify for free\u003C\u002Fa>\u003C\u002Fp>\n\n\n\n\u003Ch3 id=\"h-disclaimer\" class=\"wp-block-heading\">\u003Cstrong>Disclaimer:\u003C\u002Fstrong>\u003C\u002Fh3>\n\n\n\n\u003Cp class=\"wp-block-paragraph\">\u003Cem>Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!\u003C\u002Fem>\u003C\u002Fp>\n",962,"en","\u002Fblog\u002Fspotify-is-highly-defensible-against-ai-says-jefferies-its-october-22-report-has-to-prove-it","spotify-is-highly-defensible-against-ai-says-jefferies-its-october-22-report-has-to-prove-it","images\u002FSpotify-Featured_127715445ec\u002FSpotify-Featured_127715445ec","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1788012074\u002Fimages\u002FSpotify-Featured_127715445ec\u002FSpotify-Featured_127715445ec.png?_i=AA",{"altText":237,"imageCredit":238},"Spotify Is “Highly Defensible” Against AI, Says Jefferies. Its October 22 Report Has to Prove It","inkdrop, Bongkarngraphic from bongkarngraphic via Canva",{"name":240,"slug":241,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":244},"Roxanna Maglangit","roxtikr","author","",[],{"name":246,"slug":247,"role":248,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":249},"Michael Douglass","MichaelDouglass","editor",[],[251],{"name":252,"slug":253,"uri":254,"description":243,"postsCount":255},"General Investing","general-investing","\u002Fblog\u002Fcategory\u002Fgeneral-investing",0,[],{"title":237,"metaDesc":258,"opengraphDescription":258,"twitterTitle":237,"twitterDescription":258},"Watch the margins on Thursday, not just the subscriber count",{"title":225,"description":258,"twitterTitle":225,"twitterDescription":258,"author":240,"articlePublisher":260,"articlePublishedTime":226,"articleModifiedTime":227,"twitterLabel1":261,"twitterData1":262,"ogTitle":225,"ogDescription":258,"ogUrl":232,"ogImage":235,"ogImageWidth":263,"ogImageHeight":264,"ogImageSecureUrl":235,"ogImageAlt":237,"twitterImage":235},"TIKR.com","Est. reading time","6 minutes",1200,630,[266,282,299,314,329],{"id":255,"title":267,"date":268,"excerpt":269,"wordCount":270,"uri":271,"slug":272,"cloudinaryAssetId":273,"featuredImageOriginalUrl":274,"featuredImageMetadata":275,"author":276,"categories":279,"relatedPosts":281},"Musk's $1 Trillion SpaceX Revenue Goal: \"They Had Better Get Going\" says Jim Chanos","2026-10-26 15:36:21","That's a lot of data centers",1010,"\u002Fblog\u002Fmusks-1-trillion-spacex-revenue-goal-they-had-better-get-going-says-jim-chanos","musks-1-trillion-spacex-revenue-goal-they-had-better-get-going-says-jim-chanos","images\u002FSPCX-stock-U-S-Air-Force-photo-by-Trevor-Cokley-and-SUMALI-IBNU-CHAMID-from-Alemedia-id-via-Canva-1\u002FSPCX-stock-U-S-Air-Force-photo-by-Trevor-Cokley-and-SUMALI-IBNU-CHAMID-from-Alemedia-id-via-Canva-1","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792700556\u002Fimages\u002FSPCX-stock-U-S-Air-Force-photo-by-Trevor-Cokley-and-SUMALI-IBNU-CHAMID-from-Alemedia-id-via-Canva-1\u002FSPCX-stock-U-S-Air-Force-photo-by-Trevor-Cokley-and-SUMALI-IBNU-CHAMID-from-Alemedia-id-via-Canva-1.png?_i=AA",{"altText":267},{"name":246,"slug":277,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":278},"michaeldouglass",[],[280],{"name":252,"slug":253,"uri":254,"description":243,"postsCount":255},[],{"id":255,"title":283,"date":284,"excerpt":285,"wordCount":286,"uri":287,"slug":288,"cloudinaryAssetId":289,"featuredImageOriginalUrl":290,"featuredImageMetadata":291,"author":292,"categories":296,"relatedPosts":298},"Oklo Sinks, then Rebounds as TD Cowen Starts Coverage at Hold Despite a \"Unique Way\" to Invest","2026-10-26 15:32:23","Another Hold, and another target right around the share price",726,"\u002Fblog\u002Foklo-sinks-then-rebounds-as-td-cowen-starts-coverage-at-hold-despite-a-unique-way-to-invest","oklo-sinks-then-rebounds-as-td-cowen-starts-coverage-at-hold-despite-a-unique-way-to-invest","images\u002Fgrim-older-man-in-a-dark-suit-falling-red-chart\u002Fgrim-older-man-in-a-dark-suit-falling-red-chart","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793025348\u002Fimages\u002Fgrim-older-man-in-a-dark-suit-falling-red-chart\u002Fgrim-older-man-in-a-dark-suit-falling-red-chart.png?_i=AA",{"altText":283},{"name":293,"slug":294,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":295},"David Hanson","davidtikr",[],[297],{"name":252,"slug":253,"uri":254,"description":243,"postsCount":255},[],{"id":255,"title":300,"date":301,"excerpt":302,"wordCount":303,"uri":304,"slug":305,"cloudinaryAssetId":306,"featuredImageOriginalUrl":307,"featuredImageMetadata":308,"author":309,"categories":311,"relatedPosts":313},"\"Next Trillion-Dollar Company\": Marvell Has Ripped 185% in a Year. Is It Too Late to Buy?","2026-10-26 15:31:03","It's cheaper than it was in September, and the estimates are bigger",959,"\u002Fblog\u002Fnext-trillion-dollar-company-marvell-has-ripped-185-in-a-year-is-it-too-late-to-buy","next-trillion-dollar-company-marvell-has-ripped-185-in-a-year-is-it-too-late-to-buy","images\u002FMRVL-stock-Dean-Drobot-via-Canva\u002FMRVL-stock-Dean-Drobot-via-Canva","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792699423\u002Fimages\u002FMRVL-stock-Dean-Drobot-via-Canva\u002FMRVL-stock-Dean-Drobot-via-Canva.png?_i=AA",{"altText":300},{"name":240,"slug":241,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":310},[],[312],{"name":252,"slug":253,"uri":254,"description":243,"postsCount":255},[],{"id":255,"title":315,"date":316,"excerpt":317,"wordCount":318,"uri":319,"slug":320,"cloudinaryAssetId":321,"featuredImageOriginalUrl":322,"featuredImageMetadata":323,"author":324,"categories":326,"relatedPosts":328},"Alphabet's Waymo Will \"Buy Lucid or Rivian,\" Predicts Early Uber Investor","2026-10-26 15:23:00","Waymo's car problem may already have a cheaper fix",1080,"\u002Fblog\u002Falphabets-waymo-will-buy-lucid-or-rivian-predicts-early-uber-investor","alphabets-waymo-will-buy-lucid-or-rivian-predicts-early-uber-investor","images\u002FGoogle\u002FGoogle","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792784273\u002Fimages\u002FGoogle\u002FGoogle.png?_i=AA",{"altText":315},{"name":240,"slug":241,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":325},[],[327],{"name":252,"slug":253,"uri":254,"description":243,"postsCount":255},[],{"id":255,"title":330,"date":331,"excerpt":332,"wordCount":333,"uri":334,"slug":335,"cloudinaryAssetId":336,"featuredImageOriginalUrl":337,"featuredImageMetadata":338,"author":339,"categories":341,"relatedPosts":343},"Borr Drilling Sinks 8% as Prospector 5 Rig Goes Down Off Gabon in \"Punch Through Event\"","2026-10-26 15:19:38","People come first here, and then there's a big insurance question for shareholders",709,"\u002Fblog\u002Fborr-drilling-sinks-8-as-prospector-5-rig-goes-down-off-gabon-in-punch-through-event","borr-drilling-sinks-8-as-prospector-5-rig-goes-down-off-gabon-in-punch-through-event","images\u002Fanxious-man-biting-his-nails-falling-red-chart\u002Fanxious-man-biting-his-nails-falling-red-chart","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793024270\u002Fimages\u002Fanxious-man-biting-his-nails-falling-red-chart\u002Fanxious-man-biting-his-nails-falling-red-chart.png?_i=AA",{"altText":330},{"name":246,"slug":277,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":340},[],[342],{"name":252,"slug":253,"uri":254,"description":243,"postsCount":255},[],[345,365,380,394,409,429,444,459,474],{"id":255,"title":346,"date":347,"excerpt":348,"wordCount":349,"uri":350,"slug":351,"cloudinaryAssetId":352,"featuredImageOriginalUrl":353,"featuredImageMetadata":354,"author":355,"categories":359,"relatedPosts":364},"Up 13% In Last 12 Months, Can Arista Networks Stock Give Better Returns in 2026?","2026-10-26 12:57:00","Arista stock is up 10% in a year. See what TIKR’s Valuation Model says about ANET’s upside, with a $275 price target by December 2028.",1099,"\u002Fblog\u002Farista-networks-stock-valuation-anet-2026","arista-networks-stock-valuation-anet-2026","images\u002FANET-stock-@Jirsak-from-Getty-Images-Pro-via-Canva-@Africa-images-via-Canva\u002FANET-stock-@Jirsak-from-Getty-Images-Pro-via-Canva-@Africa-images-via-Canva","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793010558\u002Fimages\u002FANET-stock-@Jirsak-from-Getty-Images-Pro-via-Canva-@Africa-images-via-Canva\u002FANET-stock-@Jirsak-from-Getty-Images-Pro-via-Canva-@Africa-images-via-Canva.png?_i=AA",{"altText":346},{"name":356,"slug":357,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":358},"Aditya Raghunath","adityatikr",[],[360],{"name":361,"slug":362,"uri":363,"description":243,"postsCount":255},"Valuation","valuation","\u002Fblog\u002Fcategory\u002Fvaluation",[],{"id":255,"title":366,"date":367,"excerpt":368,"wordCount":369,"uri":370,"slug":371,"cloudinaryAssetId":372,"featuredImageOriginalUrl":373,"featuredImageMetadata":374,"author":375,"categories":377,"relatedPosts":379},"Down 48% In Last 12 Months, Can SoFi Stock Give Better Results in 2026?","2026-10-26 12:45:00","SoFi stock is down 51% in a year. See what TIKR’s Valuation Model says about SOFI’s upside, with a $22 price target by December 2028.",1081,"\u002Fblog\u002Fsofi-stock-valuation-sofi-2026","sofi-stock-valuation-sofi-2026","images\u002FSOFI-stock-@AKKI-from-AKKI-JOHN-via-Canva-@MCCAIG-from-Getty-Images-Signature-via-Canva\u002FSOFI-stock-@AKKI-from-AKKI-JOHN-via-Canva-@MCCAIG-from-Getty-Images-Signature-via-Canva","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793015325\u002Fimages\u002FSOFI-stock-@AKKI-from-AKKI-JOHN-via-Canva-@MCCAIG-from-Getty-Images-Signature-via-Canva\u002FSOFI-stock-@AKKI-from-AKKI-JOHN-via-Canva-@MCCAIG-from-Getty-Images-Signature-via-Canva.png?_i=AA",{"altText":366},{"name":356,"slug":357,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":376},[],[378],{"name":361,"slug":362,"uri":363,"description":243,"postsCount":255},[],{"id":255,"title":381,"date":367,"excerpt":382,"wordCount":383,"uri":384,"slug":385,"cloudinaryAssetId":386,"featuredImageOriginalUrl":387,"featuredImageMetadata":388,"author":389,"categories":391,"relatedPosts":393},"Up Just 9% in the Last 12 Months, Can Palantir Stock Give Better Returns in 2026?","Palantir stock is up just 4% in a year. See what TIKR’s Valuation Model says about PLTR’s upside, with a $529 target by December 2028.",1024,"\u002Fblog\u002Fpalantir-stock-valuation-pltr-2026","palantir-stock-valuation-pltr-2026","images\u002FPLTR-stock-@surachet_shotivaranon-from-surachetshs-Images-via-Canva-@SORAPOP-UDOMSRI-from-Sorapop-Udomsri-via-Canva_1454044a26c\u002FPLTR-stock-@surachet_shotivaranon-from-surachetshs-Images-via-Canva-@SORAPOP-UDOMSRI-from-Sorapop-Udomsri-via-Canva_1454044a26c","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793003212\u002Fimages\u002FPLTR-stock-@surachet_shotivaranon-from-surachetshs-Images-via-Canva-@SORAPOP-UDOMSRI-from-Sorapop-Udomsri-via-Canva_1454044a26c\u002FPLTR-stock-@surachet_shotivaranon-from-surachetshs-Images-via-Canva-@SORAPOP-UDOMSRI-from-Sorapop-Udomsri-via-Canva_1454044a26c.png?_i=AA",{"altText":381},{"name":356,"slug":357,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":390},[],[392],{"name":361,"slug":362,"uri":363,"description":243,"postsCount":255},[],{"id":255,"title":395,"date":396,"excerpt":397,"wordCount":398,"uri":399,"slug":400,"cloudinaryAssetId":401,"featuredImageOriginalUrl":402,"featuredImageMetadata":403,"author":404,"categories":406,"relatedPosts":408},"Down 56% In Last 12 Months, Can AppLovin Stock Give Better Returns in 2026?","2026-10-26 12:33:00","AppLovin stock is down 60% in a year. See what TIKR’s Valuation Model says about APP’s upside, with a $366 price target by December 2028.",1139,"\u002Fblog\u002Fapplovin-stock-valuation-app-2026","applovin-stock-valuation-app-2026","images\u002FAPP-stock-@juststock-from-Getty-Images-via-Canva-@maxkabakov-from-Getty-Images-via-Canva_14548356cd2\u002FAPP-stock-@juststock-from-Getty-Images-via-Canva-@maxkabakov-from-Getty-Images-via-Canva_14548356cd2","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1793013215\u002Fimages\u002FAPP-stock-@juststock-from-Getty-Images-via-Canva-@maxkabakov-from-Getty-Images-via-Canva_14548356cd2\u002FAPP-stock-@juststock-from-Getty-Images-via-Canva-@maxkabakov-from-Getty-Images-via-Canva_14548356cd2.png?_i=AA",{"altText":395},{"name":356,"slug":357,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":405},[],[407],{"name":361,"slug":362,"uri":363,"description":243,"postsCount":255},[],{"id":255,"title":410,"date":411,"excerpt":412,"wordCount":413,"uri":414,"slug":415,"cloudinaryAssetId":416,"featuredImageOriginalUrl":417,"featuredImageMetadata":418,"author":419,"categories":423,"relatedPosts":428},"ExxonMobil Stock Hit a Record Close as Brent Topped $116. Here’s Where the Stock Could Go by 2030","2026-10-26 07:55:00","ExxonMobil closed at a record $183.21 on October 23 as Brent topped $116, and now trades above the Street’s mean target. Its CFO says Pioneer synergies doubled and Exxon aims to double Permian recovery with fewer wells, a cost lever the company controls.",791,"\u002Fblog\u002Fexxonmobil-stock-hit-a-record-close-as-brent-topped-116-heres-where-the-stock-could-go-by-2030","exxonmobil-stock-hit-a-record-close-as-brent-topped-116-heres-where-the-stock-could-go-by-2030","images\u002F13-10\u002F13-10","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792976181\u002Fimages\u002F13-10\u002F13-10.png?_i=AA",{"altText":410},{"name":420,"slug":421,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":422},"Wiltone Asuncion","wiltonetikr",[],[424],{"name":425,"slug":426,"uri":427,"description":243,"postsCount":255},"Stock Reviews","reviews","\u002Fblog\u002Fcategory\u002Freviews",[],{"id":255,"title":430,"date":431,"excerpt":432,"wordCount":433,"uri":434,"slug":435,"cloudinaryAssetId":436,"featuredImageOriginalUrl":437,"featuredImageMetadata":438,"author":439,"categories":441,"relatedPosts":443},"Rivian Hit a 52-Week Low the Day After Buying an AI Simulation Startup. Here’s What October 29 Has to Show","2026-10-26 07:50:00","Rivian touched a 52-week low the day after buying an AI simulation startup, extending a 19% slide that began weeks earlier. The October 29 report now has to show the cost line can carry the autonomy spending.",925,"\u002Fblog\u002Frivian-hit-a-52-week-low-the-day-after-buying-an-ai-simulation-startup-heres-what-october-29-has-to-show","rivian-hit-a-52-week-low-the-day-after-buying-an-ai-simulation-startup-heres-what-october-29-has-to-show","images\u002F12-10_145310df477\u002F12-10_145310df477","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792976166\u002Fimages\u002F12-10_145310df477\u002F12-10_145310df477.png?_i=AA",{"altText":430},{"name":420,"slug":421,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":440},[],[442],{"name":425,"slug":426,"uri":427,"description":243,"postsCount":255},[],{"id":255,"title":445,"date":446,"excerpt":447,"wordCount":448,"uri":449,"slug":450,"cloudinaryAssetId":451,"featuredImageOriginalUrl":452,"featuredImageMetadata":453,"author":454,"categories":456,"relatedPosts":458},"Robinhood Stock Fell 15% in October Before Its Q3 Report. Here’s Where It Could Go by 2030","2026-10-26 07:45:00","Robinhood fell 6.73% in two sessions, in step with Coinbase, before its October 27 report. Two October 22 developments point to crypto activity that may not show up in its crypto revenue line: bitcoin price contracts and Morpho’s first lending markets for its stock tokens.",854,"\u002Fblog\u002Frobinhood-stock-fell-15-in-october-before-its-q3-report-heres-where-it-could-go-by-2030","robinhood-stock-fell-15-in-october-before-its-q3-report-heres-where-it-could-go-by-2030","images\u002F11-11_145309e717b\u002F11-11_145309e717b","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792976143\u002Fimages\u002F11-11_145309e717b\u002F11-11_145309e717b.png?_i=AA",{"altText":445},{"name":420,"slug":421,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":455},[],[457],{"name":425,"slug":426,"uri":427,"description":243,"postsCount":255},[],{"id":255,"title":460,"date":461,"excerpt":462,"wordCount":463,"uri":464,"slug":465,"cloudinaryAssetId":466,"featuredImageOriginalUrl":467,"featuredImageMetadata":468,"author":469,"categories":471,"relatedPosts":473},"Walmart Stock Rose 15% in October Without a Higher Earnings Forecast. Here’s Where It Could Go by 2031","2026-10-26 07:40:00","Walmart rose 15.4% from September 30 to October 23, yet analysts’ next-12-months EPS estimate stayed at $3.00 a share. Almost all of the gain came from a higher multiple, ahead of a November 19 report guided to 0% to 3% EPS growth.",832,"\u002Fblog\u002Fwalmart-stock-rose-15-in-october-without-a-higher-earnings-forecast-heres-where-it-could-go-by-2031","walmart-stock-rose-15-in-october-without-a-higher-earnings-forecast-heres-where-it-could-go-by-2031","images\u002F10-14_145308a5c00\u002F10-14_145308a5c00","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792976123\u002Fimages\u002F10-14_145308a5c00\u002F10-14_145308a5c00.png?_i=AA",{"altText":460},{"name":420,"slug":421,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":470},[],[472],{"name":425,"slug":426,"uri":427,"description":243,"postsCount":255},[],{"id":255,"title":475,"date":476,"excerpt":477,"wordCount":478,"uri":479,"slug":480,"cloudinaryAssetId":481,"featuredImageOriginalUrl":482,"featuredImageMetadata":483,"author":484,"categories":486,"relatedPosts":488},"Apple Briefly Topped Nvidia as Nvidia’s Slide Reached 12%. Here’s Where Apple Stock Could Go by 2030","2026-10-26 07:35:00","Apple briefly passed Nvidia as the world’s most valuable company on October 23, hitting a record $351.73. Its AI strategy needs little capex, but at 38 times earnings, the November 2 margin print carries the multiple.",845,"\u002Fblog\u002Fapple-briefly-topped-nvidia-as-nvidias-slide-reached-12-heres-where-apple-stock-could-go-by-2030","apple-briefly-topped-nvidia-as-nvidias-slide-reached-12-heres-where-apple-stock-could-go-by-2030","images\u002F9-15_1453077213e\u002F9-15_1453077213e","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1792976106\u002Fimages\u002F9-15_1453077213e\u002F9-15_1453077213e.png?_i=AA",{"altText":475},{"name":420,"slug":421,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":485},[],[487],{"name":425,"slug":426,"uri":427,"description":243,"postsCount":255},[]]