Applied Digital Stock Surges on Bullish Analyst Coverage Amid AI and Crypto Demand
Applied Digital (APLD) shares climbed 3.9% intraday Tuesday, peaking at a 14.9% gain, after Lucid Capital initiated coverage with a buy rating and a $44 price target. The bullish outlook reflects the data center operator's positioning in computational processing and cryptocurrency mining markets.
Lucid's analysis highlights Applied Digital's infrastructure advantages as power scarcity intensifies. The company's Q4 revenue jumped 84% year-over-year to $64.2 million, signaling strong execution in the high-demand data center sector.
Market participants appear to be pricing in Applied Digital's potential as a dual-play beneficiary of AI expansion and cryptocurrency mining tailwinds. The stock's volatility mirrors broader sector rotations into infrastructure plays supporting next-generation computing needs.