$Meta ’s negative free cash flow renewed scrutiny of funding sources. Its new … · @Unclestocknotes · TwKit

@Unclestocknotes

$Meta ’s negative free cash flow renewed scrutiny of funding sources. Its new share class creates future financing flexibility; the stock dividend itself raises no cash. With the 10Y near 5%, greater reliance on bonds, private credit and equity means interest costs, credit spreads and dilution must enter return calculations. Full order books and customers’ ability to pay are separate tests. Watch Microsoft, Alphabet and Amazon capex, free cash flow and AI credit spreads next week. If demand holds, valuation matters; if budgets and collections weaken too, earnings need another look.

曝光 720 · 评论 2 · 点赞 0 · 书签 0