Applied Digital Shares Tank Almost 40% On 3Q, Why This Analyst Remains Bullish
1. APLD shares dropped 27.19% after disappointing Q3 earnings. 2. Revenue of $53 million fell short of $65 million expectation. 3. Analyst targets reduced from $11 to $10 despite maintaining a buy rating. 4. Technical difficulties affected Cloud Services segment performance. 5. Management plans to divest Cloud Services and expects better lease economics.