APLD Stock Summary and Trading Ideas (Applied Digital | NASDAQ:APLD)

Applied Digital Corp is a designer, developer, and operator of next-generation digital infrastructure across North America. It provides digital infrastructure solutions and cloud services to industries like High-Performance Computing (HPC) and Artificial Intelligence (AI). The company operates in the following business segments; Data Center Hosting Business, Cloud Services Business, and HPC Hosting Business. The majority of its revenue is generated from the Data Center Hosting Business which operates data centers to provide energized space to crypto mining customers.

Applied Digital trades on the NASDAQ stock market under the symbol APLD.

As of January 14, 2025, APLD stock price climbed to $8.54 with 41,933,010 million shares trading.

APLD has a beta of 3.20, meaning it tends to be more sensitive to market movements. APLD has a correlation of 0.12 to the broad based SPY ETF.

APLD has a market cap of $1.80 billion. This is considered a Small Cap stock.

Last quarter Applied Digital reported $61 million in Revenue and -$.15 earnings per share. This beat revenue expectation by $6 million and exceeded earnings estimates by $.14.

The top ETF exchange traded funds that APLD belongs to (by Net Assets): IWM, VTI, VGT, VXF, BLOK.

APLD has underperformed the market in the last year with a return of +14.0%, while SPY returned +23.6%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in APLD shares. However, APLD has outperformed the market in the last 3 month and 2 week periods, returning +17.3% and +7.2%, while SPY returned +0.8% and -1.0%, respectively. This indicates APLD has been having a stronger performance recently.

APLD support price is $7.21 and resistance is $8.32 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that APLD shares will trade within this expected range on the day.