The S&P 500 remains slightly red on the day, but some sectors are seeing better performance.
Healthy growth since the pandemic, led by the frequent adoption of remote work and other technological advancements, should help the Zacks Technology Services industry grow. APP, DAVE, and CLMB are well-positioned to capitalize on the rising demand.
It isn't often that a stock gets a 74% price target raise from an analyst, but that's what happened to AppLovin (APP 1.44%). The next-generation adtech company, which has already been quite the torrid outperformer on the exchange, saw its share price swell across the past few days.
In the fast-moving tech space, separating companies in hypergrowth mode from ones that are just hype isn't always easy. Throw in the fact that artificial intelligence (AI) is fueling speculation in tech stocks, and things become even cloudier.
Courtney Garcia, Payne Capital Management, senior wealth advisor, joins 'Power Lunch' to discuss stock plays for three stocks.
AppLovin (APP 1.95%), a gaming and mobile advertising company, is on fire of late after delivering a mind-blowing 744% stock return to investors in the last 12 months. Comparatively, the mighty Nvidia "only" gained around 200% during the same period.
Artificial Intelligence (AI) is proving to be a game-changing technology and with it, several companies are emerging as winners in this sector of the economy. The stocks for many of these companies have already seen large gains.
Amazon.com Inc AMZN, Applovin Corp APP, Chewy, Inc CHWY and RH RH each benefitted from Cyber Monday.
In November, Applovin Corp APP reported third-quarter revenue of $1.20 billion, up 39%, topping the analyst consensus estimate of $1.13 billion. EPS of $1.25 beat the analyst consensus estimate of $0.94.
These stocks are are currently trading at more than 100% above their 200-day moving averages.
Billionaire Israel Englander is the CEO of Millennium Management, the second-most profitable hedge fund in history in terms of net gains since inception, according to LCH Investment. That makes Englander a good source of inspiration for retail investors, and he made some interesting trades in the third quarter.
AppLovin (APP) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.