10 AI News Investors Shouldn’t Miss

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9. AppLovin Corporation (NASDAQ:APP)

Number of Hedge Fund Holders: 51

AppLovin Corporation (NASDAQ:APP) provides a leading marketing platform powered by AI technology. One of the leading stock performers of the year has been AppLovin Corporation. The company’s market value surpassed the $100 billion milestone and its shares are up more than 780% so far. On December 19, UBS analyst Chris Kuntarich highlighted key points related to AppLovin’s e-commerce ads offering. Speaking to an executive at a beauty and cosmetics brand with $70 million in advertising spending in 2024, Kuntarich said that the executive “was bullish on spending with AppLovin,” based on encouraging results. This is because the company’s e-commerce beta program likely includes “a few hundred” advertisers. Its e-commerce beta program leverages its AI-driven Axon engine for optimizing ad targeting and delivery, allowing efficient and personalized ad placements based on user behavior and data. The analyst maintains a “Buy” rating and a price target of $145.

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