Roth Capital analyst Darren Aftahi keeps a Buy rating and $58 price target on Applied Digital (APLD) while noting the firm is “buying shares” as the company’s stock falls about 8% afterhours on the news that Nvidia (NVDA) has eliminated its 7.7M share position. Much has changed since that Nvidia-led financing, including 2 colocation leases, one with CoreWeave (CRWV) and another with a hyperscaler, and soon to be a third lease, the analyst tells investors in a research note, adding the decline is more due to “headline risk than any fundamental change” in Applied Digital’s investment story.
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