Billionaire Ray Dalio’s Bridgewater’s 10 Stock Picks with Huge Upside Potential

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1. AppLovin Corporation (NASDAQ:APP)

Bridgewater Associates Stake Value: $159,602,854

Upside Potential as of May 2: 68.31%

Number of Hedge Fund Holders: 95

AppLovin Corporation (NASDAQ:APP) is a marketing technology company. It operates through two segments: Advertising, which equips mobile app developers with tools to grow and monetize their apps, and Apps, which develops and publishes mobile games.

In Q4 2024, AppLovin Corporation (NASDAQ:APP) reported $1.37 billion in quarterly revenue, a 44% increase year-over-year. The Advertising segment accounted for the largest share of this growth—it grew by 73% to $999.5 million in the quarter. For the full year 2024, the company generated 43% more revenue ($4.71 billion) from the previous fiscal year. The profitability metrics were even more impressive: Q4 net income surged 248% to $599.2 million and adjusted EBITDA climbed 78% to $848 million.

Despite the robust financial posture, market sentiment towards AppLovin (NASDAQ:APP) has recently turned cautious. On April 30, 2025, the stock tumbled 16% following commentary from Edgewater Research. The research firm pointed to a slow deceleration in the mobile gaming sector and increasing competition from tech giants. However, the stock has since recovered (as of May 1) and regained the positive trajectory that started on April 21, 2025.

On April 23, 2025, HSBC analyst Mohammed Khallouf lowered the firm’s price target on AppLovin Corporation (NASDAQ:APP) from $547 to $436 while maintaining a Buy rating on the shares. The adjustment, noted the analyst, was part of a broader review of social media and AdTech companies.

While we acknowledge the potential of AppLovin Corporation (NASDAQ:APP) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than APP but that trades at less than 5 times its earnings check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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