Stock Track | Applied Optoelectronics Soars on Strong Earnings and AI Infrastructure Demand

Stock Track11-11

Shares of Applied Optoelectronics (AAOI) surged by 6.16% on Friday, November 10th, 2024, as the fiber optics company's strong quarterly results and positive outlook fueled investor enthusiasm. The stock's rally was driven by the growing demand for AAOI's products from major cloud and data center customers, who are investing heavily in artificial intelligence infrastructure.

AAOI reported a narrower-than-expected loss of 21 cents per share for the third quarter of 2024, while revenue grew 4% year-over-year to $65.2 million, surpassing analysts' estimates. The company's performance was boosted by orders from tech giants like Microsoft (MSFT), Amazon.com (AMZN), and Oracle (ORCL), who are rapidly expanding their data center capabilities to support AI and cloud computing services.

Looking ahead, AAOI provided an optimistic forecast for the December quarter, projecting revenue of around $99 million, slightly above Wall Street expectations. The company expects a significant ramp-up in the adoption of its 800G fiber optic products in 2025, as cloud providers continue to upgrade their infrastructure to handle the growing demand for AI and data-intensive applications.

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