🔴 APP is trading 4.5% down today on profit-taking after blowout Q1 results

APP is trading at $447.99 (-4.5%) on profit-taking following a blowout Q1 earnings report and solid forward guidance.

• AppLovin reported Q1 revenue of $1.84B (up 59% YoY) and EPS of $3.56, beating analyst estimates on both the top and bottom lines.
• Despite a solid Q2 revenue guidance midpoint of $1.93B, the stock is seeing company-specific selling pressure while broader tech peers like AMD and SMCI trade higher.