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Applied Digital Corp’s stock has reached a significant milestone, hitting a 52-week high of $26.4, with InvestingPro data showing the stock trading significantly above its Fair Value. The company, now valued at $6.82 billion, faces a crucial test with its earnings report due on October 9. This noteworthy achievement underscores the company’s robust performance over the past year, during which its stock has experienced a remarkable 210.95% increase. The surge in stock price reflects investor confidence, though technical indicators suggest overbought conditions. Analyst price targets range from $13 to $43, highlighting mixed views on valuation. As Applied Digital continues to innovate and expand its offerings, with anticipated sales growth ahead, the stock’s upward trajectory highlights its growing influence and potential for future growth. For deeper insights into Applied Digital’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro, which includes 16 additional exclusive ProTips.
In other recent news, Applied Digital has announced plans to commence construction on Polaris Forge 2, a $3 billion AI computing facility in North Dakota, set to break ground in September 2025. The new facility will have an initial capacity of 280 megawatts and is expected to begin operations in 2026, reaching full capacity by early 2027. In addition, Applied Digital has secured a new lease agreement with CoreWeave for an additional 150MW at its Polaris Forge 1 Campus, bringing its total anticipated contracted lease revenue to approximately $11 billion. This includes $7 billion from two initial leases executed earlier this year.
Moreover, analyst firms have adjusted their price targets for Applied Blockchain, with Compass Point raising the target from $13 to $30, citing the full leasing of Polaris Forge 1 and the potential for a hyperscaler at Polaris Forge 2. Similarly, H.C. Wainwright increased its price target from $15 to $20, following the company’s announcement of its plans for Polaris Forge 2. These developments underscore the company’s strategic expansion and its focus on enhancing infrastructure to meet growing demands for AI computing power.
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