Why Applied Optoelectronics Stock Was Soaring This Week
News of an initial volume order of a product from a customer in a highly promising segment was providing plenty of power to Applied Optoelectronics (NASDAQ: AAOI) stock this week. Several analyst price target hikes added to the bullishness.
As of mid-session trading Friday, the advanced optical device maker's stock was up by nearly 23% in value, according to data compiled by S&P Global Market Intelligence.
On Wednesday, Applied announced it had received the first bulk order of its 800 gigabits per second transceivers designed for data center use. It did not identify the client.
Source Fool.com
