Added to YB: 2026-10-08
Pitch date: 2026-10-04
APLD [neutral]
Applied Digital Corporation
-20.45%
current return
Author Info
No bio for this author
Company Info
Applied Digital Corporation designs, develops, and operates digital infrastructure solutions to high-performance computing (HPC) and artificial intelligence industries in North America.
Market Cap
$7.0B
Pitch Price
$25.55
Price Target
30.00 (+34%)
Dividend
N/A
EV/EBITDA
-112.80
P/E
-14.62
EV/Sales
14.63
Sector
IT Services
Category
growth
APLD Earnings Bridge - F1Q27
APLD (earnings): Applied Digital’s earnings test is conversion, not headline revenue: with Polaris Forge 1 now at 250MW operational, the relevant benchmark is roughly $65M+ of HPC base rent, $58–60M of NOI and margins near 90%. Wells Fargo puts contracted NAV around $30/share before much pipeline credit. The next proof points are construction timing, better-priced leases for 250MW and a credible funding path for the next 810MW; expensive financing or equity issuance could erode project economics despite the stock’s reset to the mid-$20s.
Read full article (7 min)