On July 31, Applied Optoelectronics rose 5.65% overnight, trading at $95.5/share, with turnover of $545,400. The stock extended gains after rising nearly 10% during the prior regular session and over 5% in after-hours trading.
On the news front, the company is scheduled to report quarterly earnings on August 6 after market close. Consensus estimates project revenue of approximately $190 million, representing 80.03% year-over-year growth, with adjusted EPS of $0.02, up 120.22% year-over-year. Analyst coverage leans bullish, with buy and strong buy ratings comprising approximately 57.14% of all opinions, with no bearish views present.
The stock had previously declined over 25% through July, primarily dragged down by Corning's disappointing Q3 guidance that triggered broad selling across the optical communications sector. Following the significant pullback from highs, the combination of strong earnings growth expectations and technical oversold conditions has driven a rebound. The broader optical communications sector saw widespread gains on July 30, with ALAB up nearly 14%, Marvell Technology up over 10%, and Corning up over 7%.
(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.)
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