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    Mohammed Khallouf

    Senior Equity Research Analyst at HSBC

    Mohammed Khallouf is a Senior Equity Research Analyst at HSBC specializing in the coverage of high-growth U.S. internet and digital advertising companies such as The Trade Desk, Roblox, Take-Two Interactive, Snap, Playtika, Unity Software, AppLovin, Bumble, Match Group, and Pinterest. He has maintained a strong track record with a 66.67% success rate and an impressive average return of 98.38% on his stock recommendations, including high-conviction calls on companies like Trade Desk, Roblox, and AppLovin. Khallouf began his analyst career at HSBC and, as of at least late 2023, has established himself as a leading voice in his sector, frequently cited in industry publications and by market intelligence platforms. He is believed to hold standard industry credentials such as securities licensing, though specific license numbers and FINRA registrations are not publicly listed.

    Mohammed Khallouf's questions to AppLovin (APP) leadership

    Mohammed Khallouf's questions to AppLovin (APP) leadership • Q3 2024

    Question

    Mohammed Khallouf from HSBC observed that AppLovin's growth is far outpacing the overall mobile gaming market and asked if this outperformance is primarily driven by market share gains and whether that is sustainable.

    Answer

    CEO Adam Foroughi explained that the growth is not from taking market share, as AppLovin is already very large in gaming. Instead, he stated that their improving technology is expanding the entire market. By unlocking more ad spend within advertisers' performance goals, their platform enables clients to increase their total user acquisition budgets, which in turn drives growth for the entire mobile gaming ecosystem, not just AppLovin's share of it.

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