Macquarie notes that AppLovin (APP) shares sold off after Apple (AAPL) unveiled its AdAttributionKit, or AAK, at the WWDC conference, but contends that “this is misplaced headline risk” and that the AAK is “not a negative” for AppLovin. The new AdAttributionKit basically replaces SKAN 4, with better features to measure app ads, and the firm does not think it impedes AppLovin’s ability to buy ads on apps in the App Store, the analyst tells investors. The firm reiterates an Outperform rating and $115 price target on AppLovin shares.
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