#5 - Applied Digital (OTCMKTS:APLD)
Applied Digital Corp. (OTCMKTS: APLD) is a picks-and-shovel play on the digital economy. To begin with, the company designs, develops and operates data centers to accommodate the needs of high-performance computers. The company also provides cryptocurrency data centers for miners such as Marathon Digital Holdings Inc. (NASDAQ: MARA), which recently contracted to buy one of Applied Digital's data centers.
The company also has an artificial intelligence (AI) tie. Applied Digital rents GPU servers that are needed for AI and machine learning (ML) applications. The company will be among the first cloud providers to use the new Blackwell platform-based GPUs from Nvidia Corporation (NASDAQ: NVDA).
Revenue is growing fast, and the company expects to be profitable sometime in 2024. The Applied Digital analyst ratings on MarketBeat show a bullish price target of $14.70, resulting in a 233% gain from the stock's price of $4.41 on March 26, 2024.
About Applied Digital
Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.
Read More - Current Price
- $9.85
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
