Applied Digital: High-Risk Long Trade for Material Upside as Capacity Comes Online
Applied Digital (APLD) is a capital-intensive data-center builder that controls rare power capacity and carries a long contract backlog. The stock is volatile and debt-heavy, but the company’s contracted revenue, 3 GW pipeline and 1.4 GW of contracted power create a clear path to meaningful revenue growth as facilities come online in 2027-2028. Thi…