Applied Digital Corporation (NASDAQ:APLD) is one of the AI Bubble Stocks to Short Now According to Reddit.
On May 28, Applied Digital Corporation (NASDAQ:APLD) was reiterated with a Buy rating and a $66 price target by Needham analyst John Todaro
The analyst cited strong multi-year growth visibility following conversations with the management. Todaro’s core thesis revolves around a 1.7 gigawatt development pipeline spread across three campuses, with strong power deliveries from late 2027 into 2028. He believes that this positions the company to capture AI and data center demand for an extended period.
The analyst also noted customer diversification as a key risk-reduction factor. He highlighted that by expanding beyond a single hyperscaler, the company is targeting investment-grade revenues of 70%. Based on this thesis, the analyst finds Applied Digital as an attractive stock at current valuations.