On June 8, Applied Optoelectronics rose 5.23% in pre-market trading, trading at $186.0/share, with trading volume of $36.45 million.
On the news front, US storage and optical communication stocks rallied collectively in pre-market trading, with Micron Technology up nearly 7%, SanDisk up nearly 5%, and Credo Technology and POET Technologies up over 4%. The sector-wide strength lifted AAOI as a core optical communication name benefiting from overall sector valuation recovery.
The rebound follows a sharp pullback on June 5 when the stock fell over 7% intraday due to profit-taking after a cumulative 15%+ surge driven by investor Serenity publicly endorsing the company and the approval of 800G optical module production capacity at its Xinbei factory by a hyperscale customer. The broader Communication Equipment sector is showing renewed strength, with Nokia up 2.92%, Lumentum up 2.36%, Arista Networks up 1.96%, Cisco up 0.75%, and Ciena up 0.33%.
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