AppLovin Corp (NASDAQ:APP), a mobile technology company, has reportedly entered the race to acquire TikTok's United States operations. TikTok's China-based owner Bytedance has until Saturday to divest its American business or face a ban in the country due to national security concerns.
AppLovin (APP 2.86%) is one of the most talked-about stocks on Wall Street -- and for good reason. Its stock has been on an incredible ride over the last two years.
Amazon and mobile technology firm AppLovin are the latest to make acquisition offers for TikTok, according to multiple reports, joining Oracle, Microsoft and other potential buyers on the day when the White House is reportedly reviewing an offer—just days before the popular app is required to sell to an American company or face a ban in the U.S.
Amazon (AMZN) and adtech firm AppLovin (APP) have become the latest firms to bid for TikTok, ahead of a U.S. ban of the app set to go into effect Saturday if no deal is reached with the app's Chinese parent company.
AppLovin is one of the the companies in negotiations to potentially acquire TikTok, sources familiar with the situation told CNBC's David Faber on Wednesday. The Trump administration, which has been trying to shift control of the Chinese-owned app to an American company, is "fully aware" of AppLovin's interest in TikTok, the sources said.
CNBC's Kate Rooney and David Faber join 'The Exchange' to discuss the latest bidders of TikTok.
GME, WGS and APP are currently witnessing a short-term pullback in price. So, make sure you take full advantage of it.
AppLovin's rapid growth and technological advancements, particularly its migration to Google's GCP and development of Axon 2.0, underpin its strong adtech business. Despite skepticism and short-seller attention, AppLovin's fundamentals remain robust, with significant revenue growth and high profitability metrics. The company's strategic shift to focus solely on adtech, including divesting its apps business, positions it for continued success and expansion into new markets.
Five stocks have strong momentum for April. These are: APP, MRVL, DOCS, RDDT, VEEV.
Advertising tech firm AppLovin (APP 4.03%) saw its stock soar over the past year. Shares skyrocketed nearly 300% over the past 12 months.
AppLovin has outperformed competitors like Unity and large tech firms by capturing significant market share in the mobile app ad space. Despite recent short-seller reports, AppLovin's growth prospects remain strong, with expected revenue growth of 21% and EPS growth of more than double that. The current valuation, with a forward P/E ratio of 41x and a PEG ratio of 0.77x, is justified given the growth rate.
AppLovin CEO Adam Foroughi hit back at new short-selling allegations from Muddy Waters Research after the ad-tech company's stock suffered a drop on record Thursday. Foroughi told investors to "dig deeper" on the allegations, saying some of the claims related to the company's technology can be easily disproven by AI models like Grok "in minutes.