Matthew Prince 2.8 1 idea

Cloudflare stock is down 31% from highs despite a "gold medal" quarter. The CEO noted that cyberattacks from Iran actually *decreased* during the kinetic war due to infrastructure damage. Cloudflare is becoming essential infrastructure for AI companies (security + scraping protection). The stock sell-off is disconnected from its operational reality and dominant market share (20%+ of the internet). Long on the pullback; the company is a critical defensive play in an AI/Cyberwar world. High valuation multiples make it sensitive to interest rate changes.