Why AppLovin Stock Was Gaining Today
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Shares of AppLovin (APP) rose 8.2% today, driven by positive sentiment in the AI and digital advertising sectors following strong earnings reports from Meta Platforms and Microsoft. Meta's revenue surged 22% to $47.5 billion, highlighting robust demand for digital ads, particularly on Facebook and Instagram, aided by AI advancements. AppLovin, leveraging its AI-powered recommendation engine, is poised for growth, with analysts anticipating a 13% revenue increase to $1.22 billion in its upcoming earnings report on Aug. 6, and a potential doubling of earnings per share to $2.32.
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