Applied Digital slides on Q3 beat as investors eye hyperscaler leases
Applied Digital fell about 8% after a Q3 beat, as investors weighed low-margin segment results and awaited major customer wins; analysts remain positive on execution and near-term lease potential with hyperscalers, with Needham maintaining a Buy rating and a $41 target, while potential Ready-for-Service dates and CRWV credit upgrades could improve the cost of capital.