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APLD · Analysis updated Nov 5, 2026, 4:48 PM ET
Why is Applied Digital Corporation (APLD) stock moving?
APLD is in a sharp downtrend. It fell from a $50.73 peak in May to a new 52-week low of $16.06 on Nov 4, and on Nov 5 it traded near $14, down about 12%. The latest pressure comes from financing worries. The CEO said about 800 MW of the 1.4 GW expansion still needs funding, and interest expense of $77M already exceeds base rent of $66M. Debt-to-equity is about 360%, and a wider selloff in AI infrastructure and neocloud names adds to the pressure. Policy risk around data centers has also been reported. Against this, contracted revenue is about $20B, and a $7.5B lease with a high-investment-grade hyperscaler was signed. Insiders bought about $6.6M of stock, and analyst targets of $51-$61 sit far above the current price, though B. Riley cut its target to $51 from $75. Volume is elevated, with 35M shares on Nov 4 against a 28.7M average, and the stock is highly volatile with a beta of about 5.5. Bounces such as the 10% gain on Nov 3 have faded quickly.
News behind the analysis
- Applied Digital (APLD) Stock Falls 12.1% TodayOn Nov 5 the stock slid as much as 13% intraday to about $14 from a $15.97 open, cutting its market cap to roughly $4.2B.
- Applied Digital Slumps 8% as CEO Says 800 MW Still Needs Financing; Nebius and CoreWeave Fall 6%The CEO said about 800 MW of the 1.4 GW expansion still needs financing. Interest expense of $77M exceeds base rent of $66M, and FY2028 EPS forecasts turned to a loss.
- APLD Stock Hits Over 1-Year Low: CEO Says It's Not a Neocloud, But 800 MW Capacity Still Needs FinancingShares hit lows last seen in Sep 2025. The CEO cited about $20B in contracted revenue across three newer campuses and said demand is robust.
- Applied Digital Stock Jumps: What's Going On?On Nov 3 the stock rose about 10% with data center peers in a broad tech rally. It is still in a larger downtrend, about 65% below its May peak of $50.73.
- Applied Digital Stock Jumps: What's Going On? (TradingView)Data center and cloud stocks rallied together. APLD trades below its 20-, 50- and 200-day moving averages, and the move looks like a rebound attempt.
- APLD Stock Pops As AI Factory Earnings Smash ExpectationsThe CEO and president bought about $6.6M of stock in Oct. The company still reported a GAAP net loss of about $184M.
- Applied Digital (APLD) Stock Price & News - MarketBeatThe stock closed at $16.61 on Nov 4, down 6.74%, on volume of 35.01M shares. The consensus price target is $57.75, and the stock traded at $15.92 in extended trading.
- Applied Digital (APLD) Stock Price, Chart & NewsAverage analyst rating is Strong Buy with a $60.94 target. B. Riley cut its target to $51 from $75, and Roth reinstated at Buy with a $35 target.
- Applied Digital (APLD) Stock Price, News & Quote - CNBCThe stock closed at $16.61 with a 52-week low of $16.06 on Nov 4. Debt-to-equity is 360%.
- Applied Digital Corp (APLD) Stock Price & News - Google FinanceHeadlines cover a new investment-grade hyperscaler tenant at Delta Forge 1, a 430 MW campus, and a $7.5B lease.