On July 28, Applied Optoelectronics fell 8.18% in regular trading, trading at $84.7/share, with turnover of $159 million. The optical communication sector continued its sharp correction, with broad-based selling pressure accelerating losses.
On the news front, the optical communication sector has been under sustained pressure following remarks by Trump on trade policy, which triggered a collective selloff across semiconductor, storage, and optical communication stocks. Applied Optoelectronics had already plunged 10.60% on July 25 and declined a further 5.23% in after-hours trading earlier on July 28. The stock has now accumulated losses exceeding 25% throughout July. Needham previously maintained a Buy rating but lowered its target price to $220, reflecting market divergence on the near-term outlook.
Within the Communication Equipment sector, the overall industry is sharply lower. Among individual stocks, Lumentum down 12.07%, Ciena down 10.29%, Nokia Oyj down 5.79%, Arista Networks down 5.58%, Cisco down 1.18%.
(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