Why is APLD stock down?

APLD fell 7.4% over five trading days, closing at $17.83 on Oct. 26, 2026. Drops like this raise a simple question: is the decline specific to the company or widespread across its peer group?

To find out, we compare APLD with its closest peers. We also check earnings calendars, Fed decision dates, Applied Digital Corp.'s latest SEC filings, and insider transactions.

The chart below tracks APLD's daily closing price from April 30, 2026 to Oct. 26, 2026. Over that stretch, the stock fell 47.9%, dropping from $34.25 to $17.83. It reached a high of $49.65 on May 28, 2026 and a low of $17.83 on Oct. 26, 2026. Red circles mark weeks when company insiders sold shares on the open market (3 weeks total, with larger circles showing larger dollar amounts). Green diamonds show weeks when insiders bought shares (1 week).

APLD vs peers this week

The table below shows how APLD compares with its peers this week. Over 5 days, WULF performed best (-0.7%) while CIFR performed worst (-13.8%). APLD ranks 2 of 6.

What could be behind the APLD move

Applied Digital Corp. released no earnings reports in the last 10 days or coming three weeks. Public records show no SEC filing in recent weeks to explain the move on its own.

Across the broader market, an uptrend faces stress while the VIX volatility index sits at 18.39. The Federal Reserve's next rate decision arrives Oct. 28, 2026, just 1 day away. Markets price a 93% chance of a hold, 6% for a hike, and 1% for a cut.

Also worth knowing about APLD

Live APLD data, updated every 30 minutes: APLD insider trades, ownership and filings →

In Applied Digital Corp.'s own words

“Our goal is to establish Applied Digital as the category leader in the design, construction, deployment, and operation of purpose-built AI factories”

— Wes Cummins, Chairman and Chief Executive Officer of Applied Digital · SEC filing

From the company's earnings release filed with the SEC on 2026-10-07 (Form 8-K).

What would change the picture for APLD

These are the specific events and levels to watch. None of these items represents a prediction.

• The Jan. 5, 2027 earnings report arrives 70 days away. Applied Digital Corp. beat estimates in 0 of the last 4 quarters, with an average surprise of -115.3%. A miss would break that pattern.
• Insider buying: 2 insiders bought $6.7 million in 90 days. More purchases would strengthen that signal; sales by the same people would weaken it.
• Analyst ratings: the average score moved from 4.16 to 4.09 over three months. This uses a scale where 5 is strong buy and 1 is strong sell. Downgrades after earnings usually show up here first.
• Price levels: a close above $49.65 marks a new 52-week high, standing 178.5% above the latest close of $17.83. A close below $17.83 marks a new 52-week low, 0% below it.
• Growth: revenue rose 243.2% year over year in the quarter ending Aug 2026, showing an accelerating trend.
• New shares: dilution risk is currently high. Filing a new shelf registration (S-3) or a prospectus supplement (424B) for an offering would raise that risk.

How APLD compares with its peers

Over the past month, APLD ranks 2 of 6 in this group (-32.1%). WULF performed best (-23.9%) and CIFR proved weakest (-56.5%).

A dash in the P/E column indicates the company lost money over the last 12 months, so it has no P/E ratio.

APLD history: what happened after similar moves

Since 2023, APLD fell 32.1% or more in a month 7 times (separate episodes, not counting the current one). Three months later it was higher in 5 of 7 cases; the median change was +73.4%.

Past moves don't predict the next one; they show how volatile the stock has been.

Questions people also ask

What is APLD's 52-week high and low?

Over the past year, APLD closed between a high of $49.65 and a low of $17.83. Closing at $17.83 on Oct. 26, 2026, the stock sits 64.1% below its peak and 0.0% above its low. More →

Do analysts think APLD is a buy?

21 of the 23 analysts who cover Applied Digital Corp. rate it a buy or strong buy, for a consensus of Buy. Ratings describe analysts' views, not a guarantee, and they change after earnings. More →

Who is the largest shareholder of APLD?

Among investment managers filing Form 13F, Hood River Capital Management LLC reported the largest APLD position at $840 million. Overall, 565 institutions reported holding APLD for Q2 2026. More →

Is Applied Digital Corp. profitable?

The business was not profitable over the last 12 months. Applied Digital Corp. generated $853.9 million in revenue but suffered a net loss, posting a net margin of -48.1%. More →

Does APLD pay a dividend?

Applied Digital Corp. reported no dividend payments over the last 12 months in its SEC filings.

When does Applied Digital Corp. report earnings next?

The company expects to report next on Jan. 5, 2027, which is 70 days away. Applied Digital Corp. beat average estimates in 0 of its last 4 reports.

Dates to watch for APLD

Insider trades can come any day: they must be filed on Form 4 within two business days.

Key terms on this page

P/E ratio

Price divided by the last 12 months of earnings per share. A P/E of 20 means investors pay $20 for each $1 of yearly profit. It is only defined when the company is profitable.

Form 4

The SEC form a company's officers, directors and 10% owners must file within two business days of buying or selling its stock.

Open-market trade

A purchase or sale on the exchange at the market price, paid with the insider's own money (code P or S on Form 4), as opposed to option exercises, grants or gifts.

Form 13F

A quarterly SEC report listing the U.S. stock holdings of every investment manager with more than $100 million. It is due 45 days after each quarter ends, so it shows positions with a delay.

Dilution

When a company issues new shares, each existing share owns a smaller piece of the company. Common sources: stock offerings, convertible debt and large stock-based pay.

Form 8-K

The SEC form for material events between quarterly reports: earnings releases, deals, executive changes, stock offerings and similar news.

52-week high / low

The highest and lowest daily closing price over the past year (about 252 trading days).

Where these numbers come from

Every number on this page is computed from the data when the page is refreshed (usually daily); nothing is typed in by hand. This is information, not investment advice.

• Price: figures reflect daily closing prices through Oct. 26, 2026. Changes use 5, 21, and 63 trading days, while the 52-week range uses the last 252 closes.
• Insider trades: SEC Form 4 filings for the last 90 days include only open-market purchases (code P) and sales (code S). Option exercises, grants, gifts, and filings with data errors are left out.
• Analyst ratings: current ratings counts from 23 analysts, compared with figures from three months ago.
• Earnings dates and estimates: market-data calendar information showing reported versus expected EPS for the last 4 quarters.
• Valuation and growth: figures for revenue, earnings, margins, and share counts come from SEC filings (XBRL data, latest quarter Aug 2026). P/E and price/sales metrics use the latest close.
• Fund ownership: figures reflect SEC Form 13F filings for Q2 2026.
• Dilution: tracks share-count changes and offering-related SEC filings, such as shelf registrations, prospectus supplements, and convertible notes, over two years on a 0-100 scale.
• History: tracks 21-trading-day price moves over roughly three years of daily closes, counted once per episode.