Applied Optoelectronics Shares Drop as AI Optics Trade Pulls Back
AI optical connectivity stocks pulled back together as investors cooled on AI hardware spending. Applied Optoelectronics (AAOI) slid 6% to $106.18, underperforming the group, while the broad market was down only 0.3%. The move is tied to profit taking after a sharp run and to dilution concerns around a reported $600 million at-the-market equity program for AAOI.