On July 29, Applied Optoelectronics fell 5.15% in regular trading, trading at approximately $83.625/share, with turnover of $114 million. The decline came as the optical communications sector continued to face broad-based selling pressure.
The sector downturn was triggered by Corning's second-quarter earnings report. While Corning delivered core revenue of $4.74 billion (up 17% year-over-year) and core EPS of $0.78 (up 30% year-over-year), its Q3 guidance disappointed markets with projected core sales of $4.9 billion to $5.0 billion, with the midpoint of $4.95 billion falling slightly below consensus expectations. Corning dropped nearly 19% on July 28, dragging the entire sector lower. AAOI fell nearly 14% that same session, and the broader group including Lumentum, Ciena, and Nokia continued to decline on July 29. For the month of July, AAOI has accumulated losses exceeding 25%, reflecting sustained adjustment pressure across the optical communications space.
(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.)
Comments