Applied Digital (APLD) stock surged after reporting revenue of $127 million in Q2, triple the previous quarter. The company secured a $5 billion hyperscaler lease, highlighting its position in the data center market. With shares trading at 9x their price last April, APLD stock is expected to rise further in 2026. The company onboarded just two U.S. hyperscalers, with existing lease agreements worth $16 billion. APLD aims for net operating income to exceed $1 billion by 2030, making it a strong long-term investment. Wall Street analysts rate APLD stock as a “Strong Buy” with a target price of $42, indicating 30% potential upside.

Read more at Barchart: Should You Chase the Rally in Applied Digital Stock Today?