{ }
Symbol APP
Name AppLovin Corporation
Currency USD
Sector Information Technology
IndustryGroup Software & Services
Industry Software
Market NASDAQ Global Select
Country United States
State CA
City Palo Alto
Zipcode 94304
Website http://www.applovin.com
Stocks reached new highs on Monday, with 99 S&P 500 stocks hitting peaks and the Russell 2000 up 11% in November. Key reports on home prices and new home sales are expected Tuesday, while software stocks, led by AppLovin and Palantir, show significant gains since the election. Retailers like Burlington and Dick’s Sporting Goods are set to report earnings, with mixed performance noted in the sector.
AppLovin Corp. is entering the US investment-grade bond market with a $3.5 billion offering after achieving blue-chip status. The bond sale includes a 30-year fixed note priced at approximately 175 basis points over comparable Treasuries, attracting $24 billion in orders so far.
Adam Foroughi, co-founder of AppLovin Corp., faced rejection from Bay Area venture capital firms over a decade ago. Now, with shares of the ad-tech company soaring seven-fold this year, his net worth has reached $10.4 billion, placing him among the world's 500 richest individuals, according to the Bloomberg Billionaires Index.
Stock futures are lower as Wall Street anticipates further losses. AppLovin received a buy rating from Loop Capital, with a price target of $181, indicating a potential 13.9% upside. Meanwhile, Jefferies raised Tesla's price target to $195, despite a projected 10.9% decline, as the focus shifts back to operational concerns. In Asia-Pacific, Hyundai Motor India's shares fell 4.42% on their trading debut after a record IPO. European markets showed mixed results, with the Stoxx 600 index down slightly.
Ryan Packard's Hiddenite Capital Partners has achieved remarkable success, doubling investors' money in four years with a 17% annual return net of fees. The firm focuses on old-economy stocks and employs a multisecurity approach, macro awareness, and options strategies to manage risk and enhance performance. Notable winners this year include AppLovin and FTAI Aviation, contributing to Hiddenite's outperformance against the S&P 500 in 14 of the 16 down months since its inception.

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