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Applied Optoelectronics (AAOI) Moves 13.7% Higher: Will This Strength Last?
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Applied Optoelectronics (AAOI - Free Report) shares soared 13.7% in the last trading session to close at $15.98. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 46.2% gain over the past four weeks.
Applied Optoelectronics extended its rally, driven by its robust optical networking technology portfolio which continues to strengthen its presence in the cable TV (CATV) market. Additionally, growing demand for the company’s 100G products is benefiting its datacenter business, which remains a positive.
This maker of fiber optic products used by cable TV providers is expected to post quarterly loss of $0.17 per share in its upcoming report, which represents a year-over-year change of -240%. Revenues are expected to be $62.66 million, up 0.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Applied Optoelectronics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AAOI going forward to see if this recent jump can turn into more strength down the road.
Applied Optoelectronics is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, AXT (AXTI - Free Report) , finished the last trading session 4% higher at $2.08. AXTI has returned -27.8% over the past month.
For AXT, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.06. This represents a change of +50% from what the company reported a year ago. AXT currently has a Zacks Rank of #3 (Hold).
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Applied Optoelectronics (AAOI) Moves 13.7% Higher: Will This Strength Last?
Applied Optoelectronics (AAOI - Free Report) shares soared 13.7% in the last trading session to close at $15.98. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 46.2% gain over the past four weeks.
Applied Optoelectronics extended its rally, driven by its robust optical networking technology portfolio which continues to strengthen its presence in the cable TV (CATV) market. Additionally, growing demand for the company’s 100G products is benefiting its datacenter business, which remains a positive.
This maker of fiber optic products used by cable TV providers is expected to post quarterly loss of $0.17 per share in its upcoming report, which represents a year-over-year change of -240%. Revenues are expected to be $62.66 million, up 0.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Applied Optoelectronics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AAOI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Applied Optoelectronics is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, AXT (AXTI - Free Report) , finished the last trading session 4% higher at $2.08. AXTI has returned -27.8% over the past month.
For AXT, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.06. This represents a change of +50% from what the company reported a year ago. AXT currently has a Zacks Rank of #3 (Hold).