hapabapa Investment thesis My previous bullish thesis about Palo Alto Networks (NASDAQ:PANW) aged well, as the stock slightly outperformed the broader U.S. market since mid-November 2023. From the fundamental perspective, it appears that the stock rally is fair because the company delivered another strong quarter with solid revenue growth momentum and extensive operating leverage. The free cash flow margin is expanding rapidly, adding more strength to the company's financial position. Having sufficient fina ...