Shares of the Palo Alto, Calif-based mobile tech company were jumping like a bucking bronco on a hotplate after AppLovin whupped Wall Street's expectations. "What was that? A shooting star? Was it a comet?

AppLovin was the most successful tech stock in the U.S. last year, soaring over 700% and outperforming even the biggest names in the AI space.

AppLovin (NASDAQ: APP) is soaring after crushing expectations in its 4th quarter earnings release and Wall Street analysts are in a frenzy updating their price targets to adequately evaluate the stock's potential for next year.

Tesla shares moved higher in early Thursday trading, but remained mired in a weeks-long slump, as a top Wall Street analysts suggests the recent bearish moves belie what is still a compelling near-term story for the world's biggest EV maker.