You answered the question of what would happen to Afterpays fundamentals but OP asked the question of what would happen to the APT share price.
The reality is that if there was high inflation and interest rates were hiked aggressively APT and Tech (pretty much my entire portfolio) would crash hard.
Inflation punishes companies that are valued at high multiples and with projected cashflows into the distant future (Tech/BNPL). This is unrelated to Afterpay's cost of funds.
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