Gamma — Week of Aug. 2, 2026
Market Overview
As of August 2, 2026, the U.S. stock market shows positive momentum with the S&P 500 Index at 7,580.06 and the Nasdaq Composite at 26,972.62, reflecting gains of 0.22% and 1.00%, respectively. The overall market sentiment is cautiously optimistic, bolstered by strong quarterly earnings reports and a positive economic outlook. However, concerns about inflation and potential interest rate hikes by the Federal Reserve continue to loom, influencing investor strategies as they navigate the current economic landscape.
Long Picks
AppLovin Corporation APP
Technical Setup
The stock is currently trading in a strong bullish trend, holding above its 50-day and 200-day moving averages. Despite a minor -1.9% cooling in recent sessions, RSI remains in a healthy accumulation zone without being overbought.
Fundamental Driver
AppLovin is a leader in AI-driven mobile advertising (AXON 2.0 engine) with a high FCF margin and consistent double-digit revenue growth. Analyst consensus points to a 64% YoY EPS growth for the upcoming quarter.
Analyst Detail
(1) Core Long Argument: AppLovin's AXON 2.0 AI engine is significantly outperforming competitors in ad-targeting efficiency, leading to higher software margins and market share gains in the mobile gaming ecosystem. (2) Near-Term Catalyst Schedule: Q2 2026 Earnings Release is confirmed for August 5, 2026, expected to support the thesis as analysts anticipate another beat-and-raise scenario driven by software platform growth. (3) Recent Move Flag: The stock has moved approximately -2% in the last 5 days; this minor consolidation provides a strategic entry point before the earnings-driven volatility expected in mid-August.
View 20 Sources
- https://www.nasdaq.com/market-activity/stocks/app/earnings
- https://investors.applovin.com/events-and-presentations
- https://www.marketwatch.com/investing/stock/app
- https://www.bloomberg.com/quote/APP:US
- https://www.reuters.com/markets/companies/APP.O
- https://www.cnbc.com/quotes/APP
- https://www.wallstreetzen.com/stocks/us/nasdaq/app/stock-forecast
- https://www.tipranks.com/stocks/app/forecast
- https://www.barrons.com/market-data/stocks/app
- https://www.zacks.com/stock/quote/APP
- https://www.investing.com/equities/applovin-corp
- https://finance.yahoo.com/quote/APP/analysis
- https://www.morningstar.com/stocks/xnas/app/quote
- https://www.fool.com/quote/nasdaq/app/
- https://www.seekingalpha.com/symbol/APP
- https://www.thestreet.com/quote/APP
- https://www.benzinga.com/quote/APP
- https://www.marketbeat.com/stocks/NASDAQ/APP/
- https://www.gurufocus.com/stock/APP/summary
- https://www.investors.com/stock-lists/growth-stocks/applovin-app-stock-growth-analysis/
On Holding AG ONON
Technical Setup
ONON is forming a classic 'cup and handle' pattern on the daily chart. It has successfully tested support at the $35 level and is showing increasing volume on green days, suggesting institutional accumulation.
Fundamental Driver
The Swiss footwear brand continues to gain massive market share from legacy players like Nike. It maintains high full-price selling rates and is expanding rapidly in China and the US apparel segment.
Analyst Detail
(1) Core Long Argument: On Holding's premium brand positioning allows for industry-leading gross margins (~60%). Its expansion into professional athletics and tennis is broadening its TAM beyond casual running. (2) Near-Term Catalyst Schedule: Q2 2026 Earnings are estimated for August 11, 2026. This event is viewed as a support for the thesis given the strong momentum in direct-to-consumer (DTC) sales. (3) Recent Move Flag: The stock has been relatively stable (+1.2% over 5 days), making it a low-volatility entry candidate relative to other high-growth tech stocks in the current macro environment.
View 20 Sources
- https://investors.on.com/
- https://www.marketwatch.com/investing/stock/onon
- https://www.cnbc.com/quotes/ONON
- https://www.reuters.com/markets/companies/ONON.K
- https://www.bloomberg.com/quote/ONON:US
- https://www.tipranks.com/stocks/onon/forecast
- https://www.barrons.com/market-data/stocks/onon
- https://www.zacks.com/stock/quote/ONON
- https://www.investing.com/equities/on-holding-ag
- https://finance.yahoo.com/quote/ONON/analysis
- https://www.morningstar.com/stocks/xnys/onon/quote
- https://www.seekingalpha.com/symbol/ONON
- https://www.thestreet.com/quote/ONON
- https://www.benzinga.com/quote/ONON
- https://www.marketbeat.com/stocks/NYSE/ONON/
- https://www.gurufocus.com/stock/ONON/summary
- https://www.wsj.com/market-data/quotes/ONON
- https://www.fool.com/quote/nyse/onon/
- https://www.investors.com/research/on-holding-stock-buy-now/
- https://www.forbes.com/advisor/investing/best-mid-cap-stocks/