🔴 Applied Digital is trading 4.3% down as AI-spending worries pressure technology shares

Applied Digital is trading 4.33% down at $24.59 on September 29, 2026, amid technology-sector weakness.

• XLK is down 1.68% amid AI-spending worries, higher Treasury yields and rising oil prices; Bitcoin and Ethereum are up 1.02% and 1.96%, respectively.
• A September 28 report said shares fell after Rothschild & Co Redburn initiated coverage at Neutral with a $22 target, adding to caution ahead of earnings. This is prior-session context, not a confirmed new September 29 catalyst. No APLD-specific volume data was available.