- Applied Optoelectronics (NASDAQ:AAOI) has tumbled 13.2% after slashing its Q3 revenue estimates due to suspending shipments on some transceivers.
- Raymond James has taken its Strong Buy off the stock, trimming its recommendation to Outperform and slashing its price target (to $40 from $51, which still implies "just" 62.5% upside).
- Some optical-equipment peers are lower alongside: Lumentum Holdings (NASDAQ:LITE) is off 2.2%, Oclaro (NASDAQ:OCLR) is 1.1% lower and Infinera (NASDAQ:INFN) is down 1.6%.
- Others are escapting any downdraft: Finisar (NASDAQ:FNSR) +1.4%; Acacia Communications (NASDAQ:ACIA) +0.8%; Fabrinet (NYSE:FN) flat; NeoPhotonics (NYSE:NPTN) +0.6%; Ciena (NASDAQ:CIEN) +0.5%; II-VI (NASDAQ:IIVI) +1%; Viavi (NASDAQ:VIAV) +0.4%.
Applied Opto -13% on revenue guidance; bull Raymond James downgrades
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Symbol | Last Price | % Chg |
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AAOI | - | - |
Applied Optoelectronics, Inc. |