APLD#266
Thesis
APLD 15-year AI data center lease with US hyperscaler for 210MW at Delta Forge 2. ~$5.2B contracted revenue. Now ~$36B contracted across five AI Factory campuses.
🐂 Bull Case
- Revenue growing 139% YoY — fundamental momentum intact
- Strong gross margins at 45% — pricing power and efficiency
- Weinstein Stage 2 — advancing phase
- Golden cross formation: price $42.4 > SMA50 $36.8 > SMA200 $30.2
🐻 Bear Case
- High debt-to-equity of 110 — leverage risk
🚫 Invalidation
Close below $30.2 (SMA200) on above-average volume
Break Conditions
- Close below $30.2 (SMA200) on above-average volume
- Earnings miss >10% on revenue with declining forward guidance
Price Tracking
| Label | Ticker | Price | Recorded |
|---|---|---|---|
| t+3d | APLD | $40.40 | 2026-06-11 18:36:14 |
Metadata
T0 Price: $42.41
Created: 2026-06-09 18:33:42
Scored: 2026-06-09T18:35:22.576249+00:00
Updated: 2026-06-11T18:36:14.409265+00:00