APP - Is This AI Stock the Best Buy in the Video Game Industry Right Now?
2024-04-21 03:20:00 ET
Shares of digital advertising and mobile video game company AppLovin (NASDAQ: APP) continue to rally back toward all-time highs set during the height of the pandemic. The stock price is up nearly 80% so far in 2024, and over 570% since the start of 2023!
AppLovin operates in two fiercely competitive markets: mobile video games and digital advertising. Nevertheless, this business is delivering all the right stuff to make the market a believer. Is it the best way to bet on the video game industry right now?
Within the massive digital advertising industry -- which is quickly approaching $700 billion a year in 2024, roughly 8% to 10% higher from 2023 -- in-app ads have become big business. That's because once an app has been downloaded and is being used, there's verifiable and trackable consumer interest in the user's behavior.
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Is This AI Stock the Best Buy in the Video Game Industry Right Now?