Before the U.S. stock market opened on August 24, #AI硬件股盘前下跌AAOI跌11.66% , AI hardware and optical communications sectors were suddenly sold off. Applied Optoelectronics (AAOI) fell about 11.66%—12% pre-market 📉, at one point dropping more than 14%, making it the biggest individual decliner in this round. The direct trigger was AAOI's filing with regulators, planning to raise $600 million through an "at-the-market" (ATM) offering. Combined with more than $1.05 billion already raised year-to-date, investors' concerns about equity dilution instantly intensified.
At the sector level, Nvidia announced that CPO (co-packaged optics) had entered mass production, raising market concerns that the value distribution of traditional pluggable optical modules would be reshaped, and sentiment deteriorated further. Lumentum (LITE) fell about 5% 📉, Coherent (COHR) fell about 5% 📉, Corning (GLW) fell about 3% 📉, and Nvidia (NVDA) fell another 2.91% that day, marking its first seven-day losing streak since 2022 📉.
Short-term bearish 📉: high-flying AI hardware stocks have overextended valuations, profit-taking is underway, and cautious sentiment ahead of earnings season is adding up; high-beta optical communications names remain in a correction phase. Long-term, there is still selective bullishness 📈: AAOI management said demand for 800G/1.6T will continue to exceed capacity through mid-2027. If the additional fundraising is effectively converted into capacity, the medium-term logic for leading optical chips and silicon photonics names has not been invalidated.
$AAOI
$NVDA
$GLW
At the sector level, Nvidia announced that CPO (co-packaged optics) had entered mass production, raising market concerns that the value distribution of traditional pluggable optical modules would be reshaped, and sentiment deteriorated further. Lumentum (LITE) fell about 5% 📉, Coherent (COHR) fell about 5% 📉, Corning (GLW) fell about 3% 📉, and Nvidia (NVDA) fell another 2.91% that day, marking its first seven-day losing streak since 2022 📉.
Short-term bearish 📉: high-flying AI hardware stocks have overextended valuations, profit-taking is underway, and cautious sentiment ahead of earnings season is adding up; high-beta optical communications names remain in a correction phase. Long-term, there is still selective bullishness 📈: AAOI management said demand for 800G/1.6T will continue to exceed capacity through mid-2027. If the additional fundraising is effectively converted into capacity, the medium-term logic for leading optical chips and silicon photonics names has not been invalidated.
$AAOI
$NVDA
$GLW