10 Best Long-Term Stocks to Buy Now for High Returns

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6. AppLovin Corporation (NASDAQ:APP)

3-year Revenue Growth: ~28.4%

Number of Hedge Fund Holders: 108

Market Capitalisation: ~$161.8 billion

Average Upside Potential: ~36.3%

AppLovin Corporation (NASDAQ:APP) is one of the Best Long-Term Stocks to Buy Now for High Returns. On May 12, Needham analyst Bernie McTernan maintained a “Buy” rating on the company’s stock, setting the price objective of $700.00. The analyst’s rating comes off the back of factors associated with AppLovin Corporation (NASDAQ:APP)’s product roadmap and growth opportunities.

The analyst noted the upcoming general availability launch for the Consumer offering. This includes new generative AI video-creation capabilities that can aid advertisers in improving return on ad spend and deepen the engagement on the platform.

Furthermore, the analyst hinted towards the expansion of AppLovin Corporation (NASDAQ:APP)’s addressable market as a key driver.  McTernan noted the ability for advertisers to purchase on a cost-per-lead basis as well as the effort to integrate Axon tightly with advertisers’ own AI systems.

Overall, AppLovin Corporation (NASDAQ:APP)’s robust supply positioning, along with incremental upside due to the hybrid monetization in in-app purchase games and long-term opportunity in connected TV, supports the rating.

AppLovin Corporation (NASDAQ:APP) is engaged in providing end-to-end AI-powered advertising solutions.

While we acknowledge the potential of APP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than APP and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 Best Long-Term Stocks to Buy Now for High Returns

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