Why Applied Optoelectronics Inc. Stock Plunged 39% Lower in August
Shares of Applied Optoelectronics (NASDAQ: AAOI) took a hard fall in early August due to a solid earnings report with a disappointing slate of forward guidance targets. AOI shares closed 31% lower the next day and ended the month at a 39% discount to the last trades of July, according to data from S&P Global Market Intelligence.
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The maker of components and modules that translate high-speed networking signals between fiber-optic signals and traditional Ethernet formats actually crushed analyst targets in the second quarter. Sales more than doubled year over year to $117.4 million while adjusted earnings rose nearly tenfold to $1.54 per share. Analysts would have settled for earnings of $1.32 per share on sales near $116 million.
Source: Fool.com
