15 AI News That Should Not Be Ignored

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8. AppLovin Corporation (NASDAQ:APP)

Market Capitalization: $96.12 billion

AppLovin Corporation (NASDAQ:APP) is a technology company that provides end-to-end software and AI solutions for businesses to reach, monetize, and grow their global audiences. The company leverages its AI-powered platform to provide targeted, automated marketing solutions

On November 11, Loop Capital analyst Rob Sanderson raised his price target on AppLovin Corporation (NASDAQ:APP) to $385 from $181 and kept a “Buy” rating on the shares. The rise in price target comes after the company’s Q3 earnings beat and an above-consensus guide. Ever since the company launched Axon 2 AI-based advertising technology in Q2 2023, it has seen phenomenal growth and attributes its growth to AI. According to the firm, it is changing its model to use an EBITDA multiple of times 30, compared to the previous 17.5 times. A rapid reevaluation may be followed by a consolidation in the stock, and the firm would be eager to buy shares in the case the price dips.

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