Why Applied Optoelectronics Stock Plummeted This Week
Worry that tech giants may slow spending on optical hardware sent Applied Optoelectronics (NASDAQ:AAOI) down 23.6% this week, extending a drop that leaves shares down 64.2% (as of the close on Thursday, Oct. 15) from their 52-week high.
Applied Optoelectronics stock changed hands at $83.73 as of the close on Thursday, Oct. 15, down 23.6% from Friday, Oct. 9’s close through Thursday, Oct. 15’s close. Across those five sessions, the S&P 500 (SNPINDEX:^GSPC) fell 0.9%, the Nasdaq-100 dropped 3.1%, and the Technology Select Sector (NYSEMKT:XLK) lost 4.8%.
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