中文翻译
我不同意，Snap 是一家社交媒体公司。其收入来自广告，而非 AR 眼镜。 由于 Google Cloud 支出，它们虽然营收高但无法盈利。 它们只需将 Google Cloud 成本转化为收入（它们确实做到了），方法是删除回忆功能并对此收费。 现在它们季度营收超过 14 亿美元，并将最终实现净利润，自由现金流(FCF)增加 8 亿美元以上。 这将导致估值重估，而不是试图制造 Snap 眼镜。
· 个股论点
Snap 通过优化云成本实现盈利，驱动估值重估而非 AR 眼镜。
涉及标的： $SNAP
英文原文
Disagree, Snap is a social media company. Its revenue comes from ads, not AR glasses. They have high revenue but are unprofitable because of Google Cloud spend. They just needed to convert that Google Cloud cost into revenue (which they did) by deleting memories + charging for them. Now they do $1.4B+ quarterly revenue and will finally have a net profit from it with +$800M FCF. That will cause the re-rating, not trying to create Snap glasses.