1. AppLovin's AI-driven AXON platform enhances ad targeting and monetization, solidifying its leadership in mobile gaming advertising; 2. Transitioning to a high-margin software platform model with integrated tools (MAX and AppDiscovery) boosts recurring revenue and customer retention; 3. The stock is undervalued with a 43.4% upside potential, driven by strong growth, operational efficiency, and resilience against privacy and platform risks.