AppLovin (NASDAQ: APP) shares beat the market this week, rising over 20% through Thursday trading compared to a 1.3% decline in the wider market, according to data provided by S&P Global Market Intelligence. The latest rally was sparked by a fourth-quarter earnings update that showed stability in AppLovin's business. Sales for Q4 fell 11% to $702 million as many of its business lines remained pressured by slowing advertising spending and weaker in-game spending.