Yes, iShares Expanded Tech-Software Sector ETF (IGV) holds APP with 0.38% (as of 2026-09-22).

AppLovin Corporation (APP) is held by IGV (0.38%).

What AI bubble is APP in?

AppLovin Corporation (APP) is mapped to the Quantum bubble on QuantAbundance. Classifier 2026-05-07: extended tier, corr 0.51 to quantum centroid (29 obs, 2nd: hyperscalers 0.468). is_primary_bubble=FALSE.

What sector is APP in?

AppLovin Corporation is classified under GICS Communication Services (Interactive Media & Services).

What is APP's last close price?

APP last closed at $312.47 on 2026-09-24.

APP

NASDAQNext earnings·Nov 4AnalystsBuy·31+61%

AppLovin Corporation

Communication Services · Interactive Media & Services

$312.47last close

-51.3%~252d

Price

-51.32% over 1Y

1 auto-fib

Thesis

as of 2026-09-23

Bull case

Structural read: ad-tech roll-up turned AI-auction monopoly in mobile gaming UA, now extending the same Axon engine into e-commerce - a much larger TAM than gaming alone. Software Platform is the entire bull case post Apps-divestiture; margins step up as gaming legacy rolls off.

- Software Platform revenue growth ~75% YoY (Axon 2.0 launched Q2 2023, still compounding)

- Apps segment sold to Tripledot 2025 - gross margin steps from ~70% toward 80%+ pure-software

- E-commerce pilot expanding 2025-2026 - early advertiser cohort showing repeat spend

- Buyback cadence ~$2B/yr reduces share count ~3-4% annually

- $META Reels + $GOOGL App Campaigns are the comp set; APP plays in a niche they under-serve

Bear case

- Customer concentration in mobile gaming (~50% of ad spend from top-tier studios) - gaming UA spend cyclical

- Axon is a black box; any auction-quality regression hits revenue immediately

- E-commerce expansion unproven at scale vs $TTD, $META, $AMZN ad stacks

- iOS ATT and Android Privacy Sandbox compress attribution signal - Adjust mitigates but does not eliminate

- Multiple compression risk: trades at premium to $TTD on similar growth

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Analyze APP· interactive tools

Bubbles· capital-flow co-movement

Top correlated· 252d co-movement

0.47
0.46
0.44
0.43
0.41

Frequently asked questions

Is APP in IGV?: Yes, iShares Expanded Tech-Software Sector ETF (IGV) holds APP with 0.38% (as of 2026-09-22).
What ETFs hold APP?: AppLovin Corporation (APP) is held by IGV (0.38%).
What AI bubble is APP in?: AppLovin Corporation (APP) is mapped to the Quantum bubble on QuantAbundance. Classifier 2026-05-07: extended tier, corr 0.51 to quantum centroid (29 obs, 2nd: hyperscalers 0.468). is_primary_bubble=FALSE.
What sector is APP in?: AppLovin Corporation is classified under GICS Communication Services (Interactive Media & Services).
What is APP's last close price?: APP last closed at $312.47 on 2026-09-24.

Key levels

$393.40
0.786 retr of 297.50->745.61 (52w) · 2026-09-24
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
-20.6%
$468.68
0.618 retr of 297.50->745.61 (52w) · 2026-09-24
Out of reach · reference only
-33.3%
$521.55
0.5 retr of 297.50->745.61 (52w) · 2026-09-24
Out of reach · reference only
-40.1%
$574.43
0.382 retr of 297.50->745.61 (52w) · 2026-09-24
Out of reach · reference only
-45.6%

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Facts

Exchange: NASDAQ
Currency: USD
Market cap: $105.90B
Last update: 2026-09-24

Revenue (TTM)$6.8B

P/E24.2×

P/S15.5×

Net margin64.6%

APP