Shikin Vasily sold $458K of APP (indirect holdings)

Magnite (MGNI) and The Trade Desk (TTD) rose 6% and 5% respectively after launching agentic AI products, while AppLovin (APP) remained flat. Year-to-date, MGNI is up 41%, while TTD and APP are down over 50%. The moves reflect investor rotation within the agentic theme, not a broad tech sector shift.

The Trade Desk (TTD) rose 5% to $14.25 after launching Kokai Zuma, an AI-driven advertising platform. Despite a 64% YTD decline, the stock gained on product news, while QQQ fell 0.2%. TTD trades at 11x forward earnings, below the industry average. AppLovin (APP) and Magnite (MGNI) showed minimal movement despite growth. TTD's Q2 revenue grew 3% YoY to $715M, with Q3 guidance at $650M+.

AppLovin (APP) shares fell 26% after a rare earnings miss, with management citing a delay in AI model improvements. Historically, buying dips in APP has led to median 44% losses over 12 months. The company maintains strong revenue growth (61% LTM) and cash flow margins (66%), but future performance hinges on meeting Q3 guidance (46-48% YoY growth).

AppLovin (APP) shares have fallen, with analysts projecting 72% upside to a consensus target of $526.39. UBS sets the highest target at $790. APP guided Q3 revenue to $2.055B-$2.085B, citing a strong start. Peers like The Trade Desk (TTD) and Unity Software (U) showed divergent performance. APP trades at a forward P/E of 20, growing revenue in the 50s%.

AppLovin (APP) fell 2% to a 52-week low after Piper Sandler cut its price target due to weak Q2 results. Array (ARRY) dropped 2.5% on tariff concerns, despite strong Q2 earnings. New Fortress Energy (NFE) hit a 52-week low after its CFO resigned, but closed up 0.15%.

AppLovin (APP) shares fell below $300 for the first time in over a year. Piper Sandler cut its price target to $325, citing Q2 growth concerns but noting high-quality business. Wells Fargo also reduced its target to $325. APP reported Q2 revenue of $1.92B, up 53% YoY, and EPS of $3.76. Shares are down over 50% YTD.