Applied Optoelectronics slumps on weak earnings, guidance; B. Riley downgrades [Seeking Alpha]
Applied Optoelectronics, Inc. (AAOI)
Last applied optoelectronics, inc. earnings: 2/27 04:10 pm
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Source: Seeking Alpha
Shares were down 38% in premarket trading. Applied Optoelectronics' muted first-quarter outlook came as a surprise, especially when factoring in Nvidia's ( NVDA ) comments about artificial intelligence hitting a "tipping point," analyst Dave Kang said as he lowered his rating on Applied Optoelectronics to Neutral from Buy. Applied Optoelectronics expects first-quarter revenue to be between $41M and $46M, well below the $66.3M that analysts had expected. It expects to lose between $0.28 and $0.33 per share on a GAAP basis, above the $0.75 loss that analysts were anticipating. Disappointment also extended from the fact that Microsoft ( MSFT ), which had signed an active optical cable agreement with Applied Optoelectronics last year, has not yet "meaningfully" stepped up in terms of its 400G AOC procurement. Companies the size of Microsoft should be consuming "millions and millions" of AOCs, especially give Microsoft's prowess in artificial intelligence, Kang said. The Microsoft
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News
- Applied Optoelectronics Announces Date of First Quarter 2024 Financial Results Conference Call [Yahoo! Finance]Yahoo! Finance
- Applied Optoelectronics Announces Date of First Quarter 2024 Financial Results Conference CallGlobeNewswire
- Nubis to Showcase Award-Winning 1.6Tbps Optical Module Optimized for ML/AI Clusters at OFC 2024 [Yahoo! Finance]Yahoo! Finance
- Applied Optoelectronics Tanks On Q1 2024 Outlook: Buy The Dip [Seeking Alpha]Seeking Alpha
- Applied Optoelectronics, Inc. (NASDAQ: AAOI) was upgraded by analysts at TheStreet from a "d" rating to a "c-" rating.MarketBeat
AAOI
Earnings
- 2/22/24 - Beat
AAOI
Sec Filings
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form DEF
- AAOI's page on the SEC website