Movement Alert｜Applied Optoelectronics Overnight Decline 4.08%, post-rally pullback followed weaker Q4 outlook and sector weakness

Market Focus11-12

On November 12, Applied Optoelectronics fell 4.08% Overnight, trading at $53.58 per share, with turnover of $117,400.

The move followed a pullback after the stock’s sharp rebound, as investors continued to weigh strong third-quarter earnings recovery and a new $200 million credit facility against softer fourth-quarter revenue guidance, while communication equipment peers also weakened.

Applied Optoelectronics previously reported third-quarter revenue of $269.9 million, up 128% year over year, with GAAP net income turning positive at $6.3 million and adjusted EPS of $0.17, above expectations. However, fourth-quarter revenue guidance of $385 million to $420 million was viewed as weak, and at least one firm had earlier cut its target price to $45 while maintaining a neutral rating. In the sector, Lumentum fell 2.84% and Nokia Oyj fell 1.9%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment