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AppLovin stock rebounds 4% after a 54% drop YTD amid strong ad revenue but cautious outlook.

Market News
28 Aug 2026
24/7 Wall Street
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Neutral
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AppLovin's stock rose 4% following a steep 54% decline year-to-date, driven by a technical bounce after months of selling. Despite missing some Q2 guidance, the company reported 53% revenue growth and strong advertising performance, with Q3 guidance indicating continued growth. Trading at a more reasonable 25x trailing P/E, AppLovin shows solid free cash flow and buybacks, though risks remain from execution challenges and market pressures. Investors are advised to watch for sustained price support and volume to confirm a potential recovery trend.

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