Stock Track | Applied Optoelectronics Soars on Robust Earnings and AI Infrastructure Demand

Stock Track11-11

Shares of Applied Optoelectronics (AAOI) surged by 5.30% in pre-market trading on November 11th, 2024, following the company's impressive financial results and positive outlook driven by the growing demand for its fiber optic products in the artificial intelligence (AI) and cloud computing sectors.

On November 10th, AAOI reported a narrower-than-expected loss of 21 cents per share for the third quarter of 2024, while its revenue grew 4% year-over-year to $65.2 million, surpassing analysts' estimates. The strong performance was fueled by significant orders from major tech giants like Microsoft (MSFT), Amazon.com (AMZN), and Oracle (ORCL), who are rapidly expanding their data center capabilities to support AI and cloud computing services.

Looking ahead, AAOI provided an optimistic forecast for the December quarter, projecting revenue of around $99 million, slightly above Wall Street expectations. The company expects a significant ramp-up in the adoption of its 800G fiber optic products in 2025, as cloud providers continue to upgrade their infrastructure to handle the growing demand for AI and data-intensive applications.

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