US Stock Market Move | Applied Digital (APLD.US) has surged more than 10% since May, accumulating a total increase of 723%.

On Monday, Applied Digital (APLD.US) rose by more than 10%, hitting a new all-time high and gaining 723% since May. On the news front, the company recently announced first-quarter revenue that exceeded Wall Street expectations, showing strong growth momentum despite still recording a net loss. In the quarter ending on August 31, the company's revenue grew by 84% year-on-year, reaching $64.2 million, higher than analysts' previous expectations of $50 million. Adjusted loss per share was 3 cents, better than analysts' expected loss of 13 cents. Analysts have raised Applied Digital's 2026 revenue forecast to $299 million, a 72% year-on-year increase, and lowered the loss expectations, raising the target price by 59% to $39.89.