AppLovin, Zeta Global, Oracle, Domo, and PubMatic Shares Plummet, What You Need To Know

What Happened?

A number of stocks fell in the afternoon session after tech stocks pulled back as reports surfaced that Chinese customs authorities blocked Nvidia's H200 AI chips, effectively halting their entry despite recent U.S. export approvals. 

This semiconductor sell-off, led by Broadcom and Micron, reflected deepening fears that the "AI trade" was colliding with a protectionist "new normal." Investors were concerned about the prospect of a fragmented global order where tech giants are caught between Washington's industrial strategy and Beijing's push for semiconductor sovereignty. Broadening the risk, markets were also agitated about the Justice Department's investigation into Fed Chair Jerome Powell, sparking concerns over central bank independence. This domestic political friction, paired with rising oil prices from Iranian civil unrest, likely forced a pivot from growth to defense.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Advertising Software company AppLovin (NASDAQ:APP) fell 9.5%. Is now the time to buy AppLovin? Access our full analysis report here, it’s free.
• Advertising Software company Zeta Global (NYSE:ZETA) fell 6.9%. Is now the time to buy Zeta Global? Access our full analysis report here, it’s free.
• Data Infrastructure company Oracle (NYSE:ORCL) fell 5%. Is now the time to buy Oracle? Access our full analysis report here, it’s free.
• Data Analytics company Domo (NASDAQ:DOMO) fell 6.8%. Is now the time to buy Domo? Access our full analysis report here, it’s free.
• Advertising Software company PubMatic (NASDAQ:PUBM) fell 6%. Is now the time to buy PubMatic? Access our full analysis report here, it’s free.

Zooming In On AppLovin (APP)

AppLovin’s shares are extremely volatile and have had 58 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 16 days ago when the stock dropped 3.5% on the news that the technology sector retreated in the intraday session as investors began to lock in profits following a historic rally that recently pushed the market to all-time highs. 

The S&P 500 and Nasdaq were under pressure as the dominant artificial intelligence trade cooled off. Notable names like Nvidia were down as traders locked in profits following a banner year where the Nasdaq surged over 20%. With the S&P 500 recently hitting intraday highs near 6,945, this dip reflected a shift in internal momentum rather than a response to major economic news.

AppLovin is flat since the beginning of the year, and at $616.92 per share, it is trading 15.9% below its 52-week high of $733.60 from December 2025. Investors who bought $1,000 worth of AppLovin’s shares at the IPO in April 2021 would now be looking at an investment worth $9,463.

While Wall Street chases Nvidia at all-time highs, an under-the-radar semiconductor supplier is dominating a critical AI component these giants can’t build without. Click here to access our full research report, it’s free.