Market cap
$8.80B
at current price
Applied Optoelectronics, Inc. · Common stock · Sugar Land, Texas
Racing to build 800G and 1.6T capacity.
AOI makes optical transceivers and lasers, now mostly for AI data centers. Revenue rose 86% to a record $192M last quarter and is guided to $255–290M. To meet demand it is building over 1.6M sq ft of factories in Texas, paid for largely by selling new shares.
Last close · Oct 9, 2026
$109.64
52-week range
$18.50–234
closing low / high
Price / sales
~15×
on $596M trailing revenue
Revenue TTM
Q3 2026 guide
$255–290M
non-GAAP EPS $0.11–0.26
Next earnings
Early Nov
Q3 2026 · date not yet announced
Price, last 12 months
Daily closes with the 50-day average. The stock went from about $19 to $234 within the year and now sits near $110; beta is about 3.8.
1Y closing high
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1Y closing low
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SMA 50
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SMA 200
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RSI 14
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Avg daily move
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last 20 sessions
Beta
3.84
vs. S&P 500
From peak
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Revenue and margins, by quarter
Revenue in US$ millions, with GAAP gross margin on the right axis. Q4 2024 GAAP EPS of −$2.60 reflects a one-time non-cash charge. The last bar is guidance at the midpoint.
RevenueGross margin (right axis)Guidance
Q2 2026
$192M
+86% YoY · 5th straight record
Data center
$108M
+140% YoY
800G revenue
$12.8M
>10× YoY · ~5× more guided for Q3
1.6T orders
>$200M
firm; Q4 1.6T revenue $70–80M
| Quarter | Ended | Revenue, US$M | YoY | Gross margin | Op. margin | EPS (GAAP) |
|---|
Watch list
What moves the thesis, sorted by direction.
Tailwind
Hyperscaler 1.6T win
AOI holds more than $200M of firm 1.6T orders and expected to finish qualification with a major hyperscaler, its fourth approved supplier slot.
Tailwind
Capacity ramp
800G/1.6T capacity goes from about 200,000 units a month to over 650,000 by end-2026 and 930,000 by end-2027, more than half in Texas.
Watch
Component shortages
DSP and TIA chip supply, not demand, limits 1.6T shipments; memory shortages cost $20–25M of 100G revenue in Q3.
Risk
Dilution and cash burn
Capex was $565M in Q2, funded by $539M of at-the-market share sales. More issuance is likely while the build-out continues.
Calendar
Early Nov 2026
Q3 2026 earnings
Guide: revenue $255–290M, gross margin 29–30.5%, EPS $0.11–0.26.
Q4 2026
1.6T revenue ramp
Target: $70–80M of 1.6T revenue, limited by component supply.
Early 2027
New Texas plants
Pearland and Houston facilities come online.