Well with the new DFG its different now. The trick with AP Poppy was that even your DFG damage gets increased with your ult, so with rushing DFG you could (almost) kill their carries in 1 combo.
With the new patch i tried it like 2 times, and its more difficult now. I still reccomend rushing DFG (after sheen) but almost your whole damage comes out of your Q now. I go this way: Boots/Philo -> Sheen -> DFG -> Lichbane -> Rabadons and then things you need, like Hourglass, Voidstaff and if youre ahead and need more utility, Shurelias is really good.
But if you compare AP Poppy today with the old AP Poppy (with old 30% health DFG), its much weaker. Oh, and hitting your E is much more important now.