
APLD Stock Forecast & Price Target
APLD Analyst Ratings
Bulls say
Applied Digital is viewed favorably because it is executing on large, contracted AI infrastructure projects on time and on budget, with 250 MW of operating capacity at Polaris Forge 1 and further expansion expected. The company’s F1Q27 revenue of about $342 million and HPC NOI margin near 89% highlight strong demand, while base rent growth and long-duration leases with investment-grade hyperscalers support visibility. Its 1.3 GW to 1.4 GW expansion pipeline, $36 billion in contracted revenue, and improving financing terms strengthen confidence that the legacy hosting business can fund a much larger AI factory buildout.
Bears say
Applied Digital is exposed to heavy customer concentration, with a junk-rated AI hyperscaler as the sole tenant for 400 MW at PF1, while that ramp is not expected through H1C27. Its aggressive buildout of 1.4 GW of power under development, plus several GW of utility power, increases execution risk from delays, cost overruns, permitting, and utility interconnection bottlenecks. Financing adds further pressure, as the company borrowed at 6.75% on Mar 4, 2026, and convertible debt and warrants to CRWV and Macquarie create meaningful dilution risk if additional capital is needed.
This aggregate rating is based on analysts' research of Applied Digital Corporation and is not a guaranteed prediction by Public.com or investment advice.
APLD Analyst Forecast & Price Prediction
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APLD Analyst Forecast & Price Prediction
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