Applied Digital (US:APLD) ZACKS·2024-11-19 22:10Core Viewpoint - The stock market remains bullish, with a focus on earnings growth and potential tax benefits under a second Trump term, while the CNN Fear and Greed Index indicates a neutral market condition [2]. Group 1: Market Overview - Wall Street bulls are maintaining their position at the Nasdaq's 21-day moving average, with significant earnings reports expected from major companies like Nvidia, Walmart, and Target [1]. - The market sentiment is currently neutral, down from a state of greed, suggesting it is not overheated as it approaches the end of November and the final month of 2024 [2]. Group 2: Investment Opportunities - Investors are encouraged to explore cheap stocks trading at $10 or less, with a focus on those with strong earnings outlooks and favorable analyst ratings [3][7]. - The criteria for selecting these stocks include a price cap of $10, a minimum trading volume of 1 million shares, and a Zacks Rank of 2 or better [8]. Group 3: Applied Digital Corporation - Applied Digital Corporation (APLD) is highlighted as a promising investment, having exceeded Q1 FY25 earnings estimates and is in the process of finalizing a lease for a 100 MW facility designed for high-performance computing applications [9][10]. - APLD's revenue is projected to grow by 64% in FY25 and 42% in the following year, bolstered by a strategic investment from Nvidia, which holds a 3% stake in the company [12]. - Despite a 105% increase in stock price over the last 12 months, APLD remains 65% below its November 2021 levels, indicating potential for further growth [13].