Applied Optoelectronics (AAOI -5.9%) is facing troubling trends coming out of its otherwise well-received Q2 earnings report, Needham’s Alex Henderson says.
The company may see a “tepid” recovery in cloud customer spending, and weakness in 100G product sales looks like a “pretty big hole to dig out of.”
Henderson has a Hold rating on the company.
Shares have been in a downdraft, down 74.2% over the past year and down 33.4% over the past six months.
While sell-side analysts overall rate it a Hold, and Seeking Alpha authors are Neutral, the stock has a Quant Rating of Very Bearish.
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