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Markets · Investing · Business
Finance
Is Applied Digital Stock a Buy?
The artificial intelligence infrastructure specialist is growing sales, but its stock is down more than 50% from its 52-week high.
A new class of cloud computing companies, called neoclouds, is rushing to capitalize on the artificial intelligence supercycle. Neoclouds specialize in building data centers designed to meet the rigorous requirements of training and powering AI software and systems.
One compelling neocloud to consider investing in is Applied Digital(NASDAQ: APLD). It owns data centers and leases out their compute capacity to AI enterprises. Its stock has tumbled by about 50% since hitting a 52-week high of $50.73 in May. But that share price drop could be a buying opportunity.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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