Applied Digital stock slides as debt and losses mount
The gist
Applied Digital's first-quarter fiscal 2027 revenue rose 322% to $341.9 million but its net loss widened to $221 million.
The AI data-center builder carries $6.4 billion in debt, and analysts favor Dell over it.
How it unfolded
- Aug 31, 2026Applied Digital reported first-quarter fiscal 2027 revenue up 322% year over year to $341.9 million, with a GAAP net loss of $221 million versus $18.5 million a year earlier. Three customers accounted for 88% of revenues, including 56% from one customer.
- Oct 12, 2026Morgan Stanley maintained an Equal-Weight rating on APLD and raised its price target to 41 from 37.5.
- Oct 21, 2026APLD shares rose 8.5% to $20.98.