New York, March 1, 2026, 14:03 (EST) — The market is shut.
- AppLovin ended Friday down 2.28% at $434.77, wrapping up a choppy week for APP shares
- Tech stocks took a hit after U.S. wholesale inflation came in stronger than expected, prompting traders to reassess when the Fed might cut rates.
- Coming up, the January PCE inflation numbers—postponed from their usual slot—are now expected March 13.
AppLovin (APP.O) ended Friday at $434.77, slipping 2.28%. After hours, the stock ticked down further to $433.79. Shares traded between $426.50 and $447.53 during the day, with roughly 4.9 million changing hands. The 52-week band is still broad, from $200.50 up to $745.61. 1
This shift is drawing attention, with APP behaving much like a rate-sensitive growth stock. Typically, as traders delay their forecasts for Federal Reserve cuts, high-multiple tech and ad-tech shares—including APP—are often the first to feel the pressure from selling.
Inflation at the wholesale level lit the fuse on Friday. January’s Producer Price Index (PPI) climbed 0.5%, outpacing the 0.3% forecast, with core producer prices jumping 0.8%, according to the Labor Department. “Given still-buoyant core inflation … we expect the Fed to remain on pause during its upcoming March meeting,” Nationwide senior economist Ben Ayers said. The delayed January PCE inflation report is now scheduled for March 13. 2
February closed with losses across Wall Street. The Dow shed 1.05% Friday, while the S&P 500 lost 0.43% and the Nasdaq declined 0.92%. Tech and financial shares led the way down. “To wrap up the month of February, we were reminded there are still some cracks out there,” said Ryan Detrick, chief market strategist at Carson Group, citing the latest jump in inflation as another headwind. 3
Company fundamentals have been active as well. Back in February, AppLovin reported fourth-quarter revenue hit $1.658 billion, marking a 66% increase year-over-year, with net income coming in at $1.102 billion. For the first quarter, the company projected revenue between $1.745 billion and $1.775 billion. Adjusted EBITDA guidance was set at $1.465 billion to $1.495 billion, pointing to an 84% margin. AppLovin also disclosed it bought back and withheld 0.8 million shares during the quarter, spending $481.7 million. 4
That margin profile keeps bulls hanging on. But when the tape sours and risk appetite fades, the stock shows its brittle side—questions come up fast about what happens if ad demand softens or if high funding costs linger longer than investors hope.
But there’s still a regulatory shadow hanging over APP. The U.S. Securities and Exchange Commission’s probe into AppLovin hasn’t wrapped up, Bloomberg said, with the agency refusing to hand over documents because its investigation remains “still active and ongoing.” So far, the SEC hasn’t alleged any wrongdoing by AppLovin or its executives, according to Reuters. 5
Rates and risk appetite take the front seat on this week’s watch list. Bond yields will be in focus after the PPI surprise; traders also want to see if tech’s recent selloff has more legs. March 13 brings the PCE inflation data, a set piece that could once again stir up the Fed conversation.
