Apr. 3 at 6:15 PM
$APP $TTD APP is not TTD. Both are different businesses though in same advertising industry. Do your research properly. APP has a stronger moat in its domain as it has AI-first narrative in its business. It could leverage AI (in its Axon engine) and is able to deliver wayy higher operating and FCF margins, and wayy better ROIC compared to TTD. This shows APP is a lot more asset-light than TTD and is able to adopt to AI and deliver better in the mobile advertising. Also, APP has more topline growth -current and forward. That’s why it is trading at higher multiples(but still cheap on forward P/E and PEG basis). TTD never delivered as much high operating margin and ROIC as APP is y -even when TTD’s operating margin and ROIC were at peak in its history.
