Applied Digital (APLD) Stock Surges on Strong Q2 Earnings Beat
Applied Digital Corporation delivered a stunning earnings surprise, reporting break-even EPS of $0.00 against expectations of a $0.12 loss. The AI data center specialist saw revenue nearly double year-over-year to $126.59 million, demolishing analyst projections of $85.34 million.
Market response was immediate, with shares climbing 5.5% in after-hours trading. The rally reflects growing institutional confidence in AI infrastructure plays, as evidenced by new hyperscaler leases across two North Dakota campuses. Wall Street maintains a Strong Buy rating with a $42.90 price target, suggesting 45% upside potential.