On July 30, Applied Optoelectronics rose 5.37% in pre-market trading, trading at $80.61/share, with turnover of $8.4447 million.
On the news front, the company is scheduled to report earnings on August 6 after market close. Consensus estimates project quarterly revenue of approximately $190 million, representing an 80.03% year-over-year increase, with adjusted EPS of $0.02, up 120.22% year-over-year. Among covering analysts, buy and strong buy ratings account for approximately 57.14%, with no bearish views recorded.
The stock had previously declined over 25% throughout July, primarily dragged down by Corning's disappointing Q3 guidance that triggered broad selling across the optical communications sector. On July 28, Corning fell nearly 19% while AAOI dropped nearly 14%. The current pre-market rebound appears driven by the combination of strong earnings growth expectations and an oversold technical setup following the steep monthly decline. Needham previously maintained a buy rating while lowering its target price to $220, reflecting some market divergence on near-term trajectory.
(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