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Philip Morris (PM) dropped sharply after reporting Q2 2025 earnings—despite strong results across revenue, IQOS volumes, and cash flow. In this video, I unpack what really happened: why the market may have overreacted, what the selloff might be signaling, and whether this creates a long-term opportunity for investors. We cover: Top-line and bottom-line performance The latest on IQOS and reduced-risk product trends Pricing power and FX headwinds Free cash flow and dividend coverage Why I believe the market got this one wrong—and what I’m watching next 📘 My full research archive: https://seekingalpha.com/author/micha... 💰 Get $30 OFF Seeking Alpha Premium: https://www.sahg6dtr.com/44SQ45J/R74QP/ Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research. 🔒 Disclosure: This video includes affiliate links to Seeking Alpha. If you sign up or make a purchase, I may earn a commission at no extra cost to you. Although I contribute research to Seeking Alpha, the opinions here are entirely my own. This video is not sponsored by Seeking Alpha.