New York, February 6, 2026, 11:46 (ET) — Regular session
- After tumbling sharply in the previous session, AppLovin shares clawed back roughly 7% in late-morning trading.
- Mobile ad-tech stocks remain volatile, with investors grappling over potential AI-driven upheavals in software and advertising.
- The next key event is AppLovin’s earnings report and management webcast set for Feb. 11.
AppLovin Corp (APP.O) shares climbed roughly 7% to $401.60 in late-morning trade on Friday, bouncing back after a sharp drop the day before. The Nasdaq-listed stock hit a high of $402.20 and dipped to a session low of $376.19, opening at $397.16. About 2.8 million shares changed hands, according to LSEG data.
U.S. stocks regained footing following a week of tech sector losses, despite Amazon falling on news of a steep rise in AI-related capital expenditures. “There’s a stage where there’s almost unabashed enthusiasm and then there’s a period of greater discernment,” noted Kristina Hooper, chief market strategist at Man Group. 1
AppLovin faces tricky timing as CloudX, a startup started by the creators of MoPub and MAX, just launched broadly this week. They’re pitching AI “agents” designed to handle the daily grind of mobile ad auctions. Jim Payne, CEO and MoPub co-founder before it was bought and later shuttered by AppLovin, says there’s only so much one person can manage in ad monetization. His pitch centers on “intelligent monetization” driven by software. But investors fret that more automation and transparency might squeeze the “take rates,” the cut platforms earn from ad auctions. 2
AppLovin finished Thursday at $375.23, slipping to a low of $360.12 during the session, based on Yahoo Finance historical data. The stock bounced back Friday after two days of sharp declines in high-growth software-related stocks. 3
The selloff in software stocks has been severe. The S&P 500 software and services index dropped 4.6% on Thursday, heading toward a staggering $1 trillion loss in market value since Jan. 28. “I would classify this as a sell-everything mindset at this point,” said Dave Harrison Smith, chief investment officer and head of technology investing at Bailard. 4
AppLovin operates where software meets advertising. Its offerings include tools that enable app developers and advertisers to trade mobile ads, featuring products like the MAX monetization platform and the Axon advertising engine, according to its company profile. 5
The business model hinges on auction fees and advertisers eager to pay for performance marketing—ads aimed at boosting installs or sales. If spending slows on either front, or platforms must sacrifice more revenue to sustain demand, the stock can move sharply.
AppLovin announced it will release its Q4 and full-year 2025 earnings on Feb. 11, right after the U.S. markets close. CEO Adam Foroughi and CFO Matthew Stumpf will host a webcast at 5 p.m. ET. 6
That bounce might not last long if AI worries resurface or if next week’s earnings reveal weaker ad demand. When competition drives rates down, the earnings leverage cuts both ways.
Traders are zeroing in on Feb. 11, awaiting management’s take on pricing, retention, and any initial effects from new players entering the mobile ad stack.
