Royal Caribbean: Margin Expansion Will Drive Shares Higher

Core Insights - The article emphasizes the importance of integrating top-down macro/thematic research with bottoms-up stock selection, focusing on a fundamentally-oriented "unit economics" approach to model and forecast company financials [1] Group 1: Research Focus - Recent research has concentrated on Artificial Intelligence, examining its transformative effects on companies, industries, and the broader economy [1] Group 2: Investment Philosophy - The belief is that earnings estimate revisions are a crucial driver of share prices, with valuation best expressed through five-year forward price-to-earnings ratios [1]