Is Applied Digital Stock a Buy?
Artificial intelligence (AI) technology promises to impact many industries, and it's already doing so in the data center sector. AI systems are housed in data centers, and demand for space in these facilities has exploded.
This trend is a boon for data center owners such as Applied Digital (NASDAQ: APLD). As a result, the company's stock is up nearly 500% over the past 12 months through the week ended Jan. 30, with shares hitting a 52-week high of $42.27 that same week.
Data centers fall under the AI infrastructure market, and forecasts predict this industry will see spectacular growth from $59 billion in 2025 to $356 billion by 2032. Could this mean it's now time to invest in Applied Digital? Taking a deeper dive into the company can answer that question.
Source Fool.com
