u/Pristine_Eye_8361

The author is accumulating a six-figure TTD concentration as the stock hits a new 52-week low, claiming the fear of slowing growth is overstated: 2025 growth was 25%/19%/18% by quarter, and Q4 guidance of 13% (18% adjusted for 2024 political spend) has been conservative all year, implying roughly 19-21.5% full-year growth. The mechanism is continued expansion of the DSP market, projected to compound at 22.5-23% CAGR to 2034 (from $19.5B in 2026 to $123B in 2035) with TTD holding ~18% penetration, so sector growth should keep revenue compounding. On valuation, TTD trades at roughly 28x 2026 and 22x 2027 GAAP earnings with 16%+ growth projected to 2030, cheaper on forward PE than Google, Amazon or Microsoft despite higher slated growth. Stated risks are poor top-level execution (the Kokai rollout), tariff-driven ad budget uncertainty, and the Amazon DSP threat, which the author argues is overstated because Amazon's DSP would lose money off its own inventory and risks Google-style antitrust scrutiny, especially in Europe.