Core Insights - Both Amazon and MercadoLibre have faced challenges primarily due to their non-e-commerce businesses, impacting their stock price growth over the past year [2][10] - The choice between investing in Amazon or MercadoLibre depends on the investor's risk tolerance [15][16] Amazon - Amazon's cloud computing arm, AWS, is its main profit source, contributing significantly to operating income despite only accounting for 18% of total revenue in 2025 [4] - The company plans to allocate $200 billion to capital expenditures in 2025, following a $132 billion spend in 2025, which has raised concerns among investors [5] - Amazon generated $11 billion in free cash flow in 2025 and has $123 billion in liquidity, allowing it to invest in growth [9] - Amazon's net sales grew by 12% in 2025, and its market cap is approximately $2.25 trillion [11][12] MercadoLibre - MercadoLibre's fintech business, Mercado Pago, has become a key growth driver but is currently facing issues with non-performing loans, with provisions for doubtful accounts increasing by 58% to over $2.1 billion in the first nine months of 2025 [6][10] - The company experienced a revenue surge of 37% in the first nine months of 2025, significantly outpacing Amazon's growth [12] - MercadoLibre's market cap is around $102 billion, allowing for potentially faster growth due to its smaller size [11][13] Investment Considerations - For risk-averse investors, Amazon's liquidity and potential in AI make it a more suitable choice despite high capital expenditures [15] - For those willing to take on higher risks, MercadoLibre may be a better option due to its ability to navigate challenges and its potential for rapid growth [16]

Key Takeaways MELI trades at 32X forward earnings and has fallen 13% in six months, lagging the S&P 500.MercadoLibre's Mercado Pago hit 72M MAUs, with credit users topping 27M and engagement rising.MELI cut unit shipping costs in Brazil and Mexico, boosting efficiency and long-term margins.MercadoLibre’s (MELI) shares are currently overvalued, as suggested by its Value Score of C.The stock’s premium valuation may raise concerns for some investors. MELI’s forward 12-month Price/Earnings ratio of about 32.02X ...

MercadoLibre (NASDAQ: MELI) stock, the "Latin Amazon.com," jumped nearly 5% in early trading Thursday before turning tail and giving back almost all its gains. (As of 11:30 a.m. ET, MercadoLibre is up only about 0.5%.) It's no secret why MercadoLibre popped -- Wall Street analyst Marcelo Santos at JPMorgan Chase upgraded the stock to "overweight" this morning. The question is: Why did MercadoLibre stock then drop again? Where to invest $1,000 right now? Our analyst team just revealed what they believe are ...

Core Viewpoint - The article summarizes significant rating changes from Wall Street, highlighting companies with upgraded, downgraded, and newly initiated ratings, which are crucial for investors to consider. Upgraded Ratings - Shopify (SHOP) upgraded from Hold to Buy by Cowen Group with a target price of $159, citing valuation advantages as the stock has dropped 30% this year and strong quarterly performance provides an attractive entry point [2] - BorgWarner (BWA) upgraded from Hold to Buy by Deutsche Bank, with the target price raised from $46 to $82, noting the company's critical transformation into the AI data center market [2] - Analog Devices (ADI) upgraded from Equal Weight to Overweight by Barclays, with the target price increased from $315 to $375, emphasizing its high industrial business share in the analog chip sector [2] - MercadoLibre (MELI) upgraded from Neutral to Overweight by JPMorgan, with the target price raised from $2650 to $2800, due to more attractive valuations following recent stock price weakness [2] - Fastly (FSLY) upgraded from Market Perform to Outperform by William Blair, with no target price set, highlighting exceptional quarterly performance driven by increased AI traffic contributions [2] Downgraded Ratings - Coinbase (COIN) downgraded from Buy to Sell by Monness Crespi, with a target price of $120, as the firm revised down earnings forecasts ahead of its quarterly report, deeming previous assumptions about a steady recovery in cryptocurrency by 2026 as overly optimistic [3] - Kraft Heinz (KHC) downgraded from Neutral to Underweight by JPMorgan, with the target price lowered from $24 to $22, despite exceeding fourth-quarter expectations, as 2026 organic sales and profit outlooks fall short of market expectations [3] - Icon (ICLR) downgraded from Neutral to Underperform by Bank of America, with a significant target price cut from $195 to $75, due to an internal investigation revealing potential revenue inflation [3] - Inspire Medical (INSP) downgraded from Overweight to Equal Weight by Wells Fargo, with the target price reduced from $145 to $70, citing uncertainties in reimbursement policies affecting stock prices [4] - Humana (HUM) downgraded from Outperform to Market Perform by Royal Bank of Canada, with the target price lowered from $322 to $189, as the risk-reward balance has become neutral following strong growth amid reimbursement policy uncertainties [4] Initiated Coverage - Microchip Technology (MCHP) initiated coverage with a Neutral rating and a target price of $80 by Barclays, noting risks of market share loss in the microcontroller sector [5] - ON Semiconductor (ON) initiated coverage with a Neutral rating and a target price of $75 by Barclays, highlighting high exposure to the Chinese market and automotive sector as a suppressive factor [5] - Sterling Infrastructure (STRL) initiated coverage with a Buy rating and a target price of $486 by Stifel, as the largest earthmoving contractor in the U.S. is expected to benefit from long-term growth themes [5] - D-Wave Quantum (QBTS) initiated coverage with a Buy rating and no target price set by Cowen Group, citing the company's leading position in quantum annealing driving growth and high margins [5] - Immunome (IMNM) initiated coverage with a Buy rating and a target price of $40 by H.C. Wainwright, as the company builds a differentiated pipeline in oncology with significant advantages in solid and hematologic tumors [5]

Group 1 - MercadoLibre, Inc. (NASDAQ:MELI) is recognized as one of the 12 best digital currency and payments stocks to buy currently [1] - JPMorgan has a positive outlook on MercadoLibre, maintaining a Neutral rating despite increased competition from Shopee, which has similar take rates [2][7] - In Q3, MercadoLibre reported a net income of $421 million, a 6% year-over-year increase, but below the $481 million analysts expected due to currency effects and reduced demand in Argentina [3] Group 2 - The company's gross merchandise volume (GMV) grew by 35% on a currency-neutral basis, contributing to a 39% increase in net sales to $7.4 billion, surpassing projections [3] - Brazil's free shipping initiative led to a 34% increase in customer growth and GMV, although it resulted in EBIT margins declining to 9.8% [3] - Mercado Pago's loan balances increased by 83% to $11 billion, with delinquency rates decreasing to 6.8%, but EBIT was reported at $724 million, falling short of expectations [3] Group 3 - MercadoLibre operates an online commerce platform focusing on e-commerce and related services across four geographical segments: Brazil, Argentina, Mexico, and Other Countries [4]

On February 9, 2026, Main Street Research LLC disclosed in an SEC filing that it sold out its entire position in MercadoLibre (NASDAQ:MELI). What happened Main Street Research LLC reported in a recent SEC filing dated February 9, 2026, that it sold all 15,833 shares of MercadoLibre (NASDAQ:MELI) during the fourth quarter. The estimated transaction value was $37.00 million, based on the average share price over the quarter. The quarter-end value of the position fell by $37.00 million, reflecting the full ...

What happened According to an SEC filing dated Feb. 9, 2026, William Blair Investment Management reduced its position in MercadoLibre (NASDAQ:MELI) by 64,225 shares, an estimated $134.90 million transaction based on the mean unadjusted closing price for the quarter. The quarter-end value of the position fell by $203.52 million, reflecting both trading and share price movements. What else to know Following the sale, the MercadoLibre position now stands at 0.93% of reportable 13F AUM. Top holdings after ...

Core Insights - MercadoLibre has established a powerful e-commerce and fintech ecosystem in Latin America, achieving over 35% annual revenue growth for the past five years [1][4] - Despite strong revenue growth, the stock has remained stagnant since 2025 due to concerns over margin volatility, rising credit provisions, and significant logistics investments [1] Industry Growth Potential - The Latin American e-commerce market is projected to grow nearly 1.5 times faster than the global average, potentially reaching $215.3 billion by 2026 [3] - Key markets such as Brazil, Mexico, and Argentina represent approximately 85% of Latin America's online sales, with e-commerce penetration in these countries still below that of the U.S. and Europe, indicating substantial growth opportunities [3] Company Strategy and Investments - MercadoLibre is focused on long-term growth despite short-term profitability pressures, investing in logistics and fulfillment centers to create a competitive advantage [4] - The company is enhancing its fintech capabilities through Mercado Pago, which processes billions of transactions annually and aims to become the largest digital bank in Latin America [5] Market Position and Future Outlook - Given the favorable market conditions and the company's strategic investments, MercadoLibre is positioned as a hidden gem in the stock market, with potential for significant upside surprises [6]

本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 近期，英国百年资管巨头柏基投资（ Baillie Gifford）披露了最新美股持仓报告。 作为全球知名的 "成长股捕手"，柏基投资曾精准布局特斯 拉、英伟达、谷歌、亚马逊、奈飞以及阿里巴巴、腾讯、美团、宁德时代等多只科技巨头 。 其长期全球成长策略旗舰产品表现亮眼，不仅跑赢 标普 500与纳斯达克指数，也超越了巴菲特执掌的伯克希尔-哈撒韦 。 公开信息显示，以其旗舰产品苏格兰抵押贷款投资信托（SMT）基金为例， 2004年至2024年的20年间，该基金实现了13.64倍的总回报，年化 回报率约13.88%。这一业绩显著超越了同期标普500指数（6.98%）、纳斯达克指数（10.87%）以及巴菲特管理的伯克希尔-哈撒韦公司 （10.02%）的年化回报率 。 根据美国证监会13F文件， 截至 2025年四季度末，柏基投资持仓总市值约1203.41亿美元，较三季度的1349.98亿美元下降10.86% 。前二十大重 仓股合计市值约740.92亿美元，占持仓总市值超六成。其中 英伟达为第一大重仓股，持股约 4387万股，持仓市值约81.81亿美元，占组 ...

Summary of Key Points Core Viewpoint - Baillie Gifford's total holdings value decreased to $120.34 billion in Q4 2025, down approximately 10.8% from $135 billion in Q3 2025, primarily due to a net selling strategy and some growth stocks experiencing high-level corrections [1][2]. Group 1: Portfolio Adjustments - Nvidia remains the largest holding despite a 5.76% reduction in shares, accounting for 6.80% of the portfolio [3]. - Mercado Libre saw a 4.95% increase in holdings, raising its share to 5.83%, solidifying its position as a cornerstone of the portfolio [3]. - The top five holdings also include Amazon, Shopify, and Sea Ltd, with the top ten holdings comprising 43.4% of the total portfolio [4]. Group 2: Notable Transactions - Significant reductions were made in Amazon, Shopify, Meta, and Cloudflare, while Google saw a notable increase in holdings by 166%, reflecting a strategic shift towards AI capabilities [5][6]. - Baillie Gifford's investment in Google is valued at approximately $1.7 billion post-increase [6]. Group 3: Investment Philosophy and Trends - The investment team emphasizes the importance of adapting to the AI wave, suggesting that companies must pivot quickly to meet new market demands [9][10][12]. - The transition to AI is viewed as a new paradigm shift, with potential for significant growth opportunities as new companies emerge [14][15]. - The focus is on both "AI core" companies and those using AI as a tool to enhance existing services [21][24]. Group 4: Insights on China and Platform Companies - The sentiment in China has shifted, with a recognition of the country's potential to foster visionary entrepreneurs, particularly in the battery sector where CATL holds a significant market share [25][26]. - Platform companies are highlighted for their ability to create value through network effects and adaptability, requiring a long-term investment perspective [28]. Group 5: Non-Public Company Investments - Baillie Gifford has committed over £6 billion to non-public companies since 2012, recognizing the increasing duration of private company ownership before IPOs [31][32]. - The firm holds significant stakes in companies like SpaceX and ByteDance, which have shown substantial revenue growth compared to public market indices [33]. Group 6: Portfolio Construction Approach - The investment strategy is bottom-up, focusing on global transformations rather than specific trends or technologies [34]. - The portfolio includes a diverse range of companies across various sectors, with ongoing adjustments to capitalize on emerging growth opportunities [38].