PayPal: Cost Cuts And Buybacks Are The Real Bull Case

PayPal Holdings offers compelling value through operational efficiencies, robust free cash flow, and aggressive share repurchases at a deeply discounted valuation. Management targets at least $1.5 billion in gross run-rate savings via organizational simplification, AI adoption, and cost reductions over the next two to three years. Despite margin pressure from Braintree's lower-margin unbranded processing, disciplined SG&A and optimization of labor-heavy functions present the largest efficiency opportunities.