Shopify is becoming the infrastructure layer between merchants and AI agents, making AI a source of new demand rather than only a threat. In Q2, AI-driven traffic and orders tripled, and new-buyer orders from AI channels came at nearly twice other channels' rate. Its Catalog gives agents over 1 billion products with 2x higher conversion, and MRR growth reached 19%. A 79x forward P/E premium is justified by accelerating growth, strong retention and improving profitability, if execution holds. … Show more

Agentic AI commerce could unlock Shopify's next major growth opportunity. Revenue is projected to more than double from $11.6B to $24.2B by 2028, while EPS is expected to rise from $1.48 to $3.32, more than 2.2 times. x.com 

Shopify faces a lot of risk in the AI revolution, which limits its upside at a $185 billion market cap and its current multiple. It has executed very well, and management may stay ahead so its infrastructure capitalizes on the agentic wave instead of being overrun, but that is not guaranteed. Against other plays and an already heavy software allocation, it is a candidate to offload, possibly after another chance at its all-time high. x.com 

Software stocks are regaining momentum because the consensus that AI would slow growth and cut earnings was wrong. Palantir accelerated to 92% revenue growth with 325% GAAP EPS growth, and Shopify's revenue growth accelerated to 34%. Strong growth and valuation metrics that keep improving leave little not to like. x.com  x.com 

Software and consumer discretionary stocks such as Booking, Shopify, Zoom and Amazon are where the AI payoff could show up strongest first. AI chip stocks are just the pickaxes, and their demand exists only because companies expect massive efficiency gains, margin expansion and revenue growth from that compute, gains that have yet to show up in the stocks using it. x.com  x.com  x.com 

Shopify is one of the best businesses around, but its valuation is too difficult to justify owning it. @profpicsou's article asks whether AI will destroy SaaS and whether Shopify, now a near-unavoidable commerce machine with millions of stores and a huge ecosystem, is well placed as plugins connect to ChatGPT, and at what price. Its section on AI and agentic impact is especially worth reading. x.com 

Shopify is becoming the infrastructure layer for modern commerce, not just a store builder. Payments, Shop Pay, lending, analytics and apps deepen its ecosystem, and even if AI makes building stores easier, merchants still need payments, checkout, inventory, customer data and fraud prevention. Revenue rose 34%, GMV 32% to $115.6B, and free cash flow margin hit 18%; growing over 30% while expanding margins at this maturity is impressive. President Harley Finkelstein called it a monster quarter. … Show more

Shopify and DoorDash are likely winners from consumer AI agents, which hurt marketplaces and sponsored ads but help logistics, discovery ads and businesses selling outside marketplaces. Less reliance on marketplaces favors Shopify as an e-commerce enabler, while DoorDash's logistics remain best in class. Both sold off on a knee-jerk reaction, and platform shifts hugely underprice management; they have two of the best CEOs in the space. x.com  x.com 

Shopify's moat may not last if AI can build and run a store end to end without a platform taking 3% of GMV. CEO Tobi Lütke says over 50% of its code is now AI-generated; if that reaches 80% and then 95%, merchants and new AI-native startups can use the same models directly. The $101B GMV, 34% revenue growth and 15% FCF margin are real, so the 16% drop after a beat prices the moat's duration, not the quarter. The bypass need not be sudden, only a growing share of new commerce spend. x.com 

Shopify, Meta Platforms, Netflix and Salesforce are high-quality large caps now available at opportunity prices, despite the claim that such chances never come. x.com