Jim Cramer reiterated his view that AppLovin Corporation is a momentum stock facing potential competition from Alphabet's Google. Speaking on August 6th, the morning after AppLovin reported second-quarter earnings, Cramer said people think the company never misses, but he sees Alphabet moving in and considers it just a momentum stock. AppLovin shares closed 19.7% lower that day after posting revenue of $1.92 billion, missing analyst estimates of $1.94 billion, while earnings per share of $3.76 met expectations. The company's CEO attributed the revenue miss to its expansion of AI-powered advertising technology into eCommerce. Hedge fund sentiment cooled in Q1 2026, with 91 out of 1,022 funds holding a stake compared to 108 out of 1,041 in Q4 2025, as Tudor Investment Corp added a $7.2 million position while Bridgewater Associates exited.
