Optical Communications Stocks Decline as Applied Optoelectronics Drops Over 13%

Stock News03-12 23:10

On Thursday, shares in the optical communications sector experienced a downturn. Applied Optoelectronics (AAOI.US) led the decline, falling more than 13%. Fabrinet (FN.US) and Lumentum (LITE.US) each dropped over 6%, while Coherent (COHR.US) declined more than 3%, and Corning (GLW.US) fell over 2%. The movement follows news that Applied Optoelectronics had secured its first bulk order for 1.6T data center transceivers from a major long-term hyperscale customer, aimed at increasing network bandwidth for AI workloads. Despite this development, the company's stock had surged 102% over the previous ten trading sessions, creating pressure for profit-taking after the rapid appreciation.

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