Apollo Global Management Inc

APO is in a Stage 2 advancing phase with a Lockout Rally driving upside repricing despite short-term momentum loss. The medium-term bias remains bullish, and the active Lockout Rally override favors immediate participation. Buy now on continuation—prefer shallow pullbacks into rising EMAs or on acceptance above recent highs. A decisive breakdown below the 50-day SMA would invalidate this view.

• ↑Recorded Q2 fee-related earnings of $785M, up 25% YoY, targeting >20% FRE growth in 2026
• ↑Origination volume reached $74B in Q2, driving strong fee and carry pipelines
• ↓P/E of 48.4x vs peers; GuruFocus flags ~1.6% overvaluation