SUGAR LAND, TX – Applied Optoelectronics Inc (NASDAQ:AAOI), a provider of fiber-optic networking products, saw its shares decline by 5.07% to close at $17.41 on Tuesday. This downturn is part of a broader five-day slump, resulting in a 13.60% drop in the company's stock price. Despite this recent performance, analysts are forecasting revenue growth for Applied Optoelectronics in the upcoming quarters.
The company, which ended Tuesday with a market capitalization of approximately $618.75 million, is navigating a challenging period. However, financial experts remain optimistic about its revenue prospects, predicting an increase to $65.09 million for the current quarter and $66.04 million for the next quarter ending March 2024. This anticipated growth is coupled with an expected earnings increase of 100% for this quarter. Moreover, a longer-term outlook suggests an annual earnings growth of about 13% over the next five years.
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