Intrinsic value of Applied Optoelectronics - AAOI

Previous Close

$40.16

  Intrinsic Value

$755.61

stock screener

  Rating & Target

str. buy

+999%

Previous close

$40.16

 
Intrinsic value

$755.61

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of AAOI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  46.70
  42.53
  38.78
  35.40
  32.36
  29.62
  27.16
  24.94
  22.95
  21.16
  19.54
  18.09
  16.78
  15.60
  14.54
  13.59
  12.73
  11.95
  11.26
  10.63
  10.07
  9.56
  9.11
  8.70
  8.33
  7.99
  7.69
  7.42
  7.18
  6.96
Revenue, $m
  560
  799
  1,108
  1,501
  1,986
  2,575
  3,274
  4,091
  5,030
  6,094
  7,285
  8,603
  10,046
  11,613
  13,301
  15,109
  17,031
  19,067
  21,214
  23,470
  25,833
  28,304
  30,881
  33,567
  36,361
  39,268
  42,289
  45,429
  48,692
  52,083
Variable operating expenses, $m
  265
  377
  523
  708
  938
  1,215
  1,545
  1,930
  2,373
  2,875
  3,436
  4,058
  4,739
  5,478
  6,274
  7,127
  8,034
  8,994
  10,007
  11,071
  12,185
  13,351
  14,566
  15,833
  17,151
  18,522
  19,948
  21,429
  22,968
  24,567
Fixed operating expenses, $m
  120
  122
  125
  128
  130
  133
  136
  139
  142
  145
  149
  152
  155
  159
  162
  166
  169
  173
  177
  181
  185
  189
  193
  197
  202
  206
  211
  215
  220
  225
Total operating expenses, $m
  385
  499
  648
  836
  1,068
  1,348
  1,681
  2,069
  2,515
  3,020
  3,585
  4,210
  4,894
  5,637
  6,436
  7,293
  8,203
  9,167
  10,184
  11,252
  12,370
  13,540
  14,759
  16,030
  17,353
  18,728
  20,159
  21,644
  23,188
  24,792
Operating income, $m
  176
  299
  460
  665
  919
  1,227
  1,593
  2,022
  2,515
  3,074
  3,700
  4,393
  5,152
  5,977
  6,865
  7,816
  8,828
  9,900
  11,031
  12,219
  13,463
  14,764
  16,122
  17,536
  19,008
  20,540
  22,131
  23,786
  25,505
  27,291
EBITDA, $m
  202
  337
  512
  734
  1,010
  1,346
  1,744
  2,210
  2,747
  3,355
  4,035
  4,789
  5,614
  6,511
  7,477
  8,511
  9,612
  10,777
  12,007
  13,298
  14,652
  16,066
  17,542
  19,080
  20,681
  22,346
  24,077
  25,875
  27,744
  29,687
Interest expense (income), $m
  2
  3
  6
  10
  15
  21
  30
  40
  51
  65
  81
  99
  119
  141
  165
  192
  220
  250
  283
  317
  353
  391
  431
  472
  516
  561
  608
  657
  708
  760
  815
Earnings before tax, $m
  173
  294
  451
  650
  897
  1,197
  1,554
  1,970
  2,450
  2,993
  3,601
  4,274
  5,011
  5,811
  6,674
  7,596
  8,578
  9,618
  10,714
  11,866
  13,072
  14,334
  15,650
  17,021
  18,448
  19,932
  21,475
  23,078
  24,744
  26,476
Tax expense, $m
  47
  79
  122
  175
  242
  323
  419
  532
  661
  808
  972
  1,154
  1,353
  1,569
  1,802
  2,051
  2,316
  2,597
  2,893
  3,204
  3,529
  3,870
  4,225
  4,596
  4,981
  5,382
  5,798
  6,231
  6,681
  7,149
Net income, $m
  127
  214
  329
  474
  655
  874
  1,134
  1,438
  1,788
  2,185
  2,629
  3,120
  3,658
  4,242
  4,872
  5,545
  6,262
  7,021
  7,821
  8,662
  9,543
  10,463
  11,424
  12,425
  13,467
  14,550
  15,676
  16,847
  18,063
  19,327

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  644
  918
  1,274
  1,725
  2,283
  2,960
  3,764
  4,702
  5,782
  7,005
  8,374
  9,888
  11,547
  13,348
  15,289
  17,366
  19,576
  21,917
  24,384
  26,977
  29,693
  32,533
  35,496
  38,582
  41,795
  45,136
  48,608
  52,218
  55,968
  59,866
Adjusted assets (=assets-cash), $m
  644
  918
  1,274
  1,725
  2,283
  2,960
  3,764
  4,702
  5,782
  7,005
  8,374
  9,888
  11,547
  13,348
  15,289
  17,366
  19,576
  21,917
  24,384
  26,977
  29,693
  32,533
  35,496
  38,582
  41,795
  45,136
  48,608
  52,218
  55,968
  59,866
Revenue / Adjusted assets
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
Average production assets, $m
  258
  367
  510
  690
  914
  1,184
  1,506
  1,882
  2,314
  2,803
  3,351
  3,957
  4,621
  5,342
  6,119
  6,950
  7,834
  8,771
  9,759
  10,796
  11,883
  13,020
  14,205
  15,441
  16,726
  18,063
  19,453
  20,897
  22,398
  23,958
Working capital, $m
  47
  67
  93
  126
  167
  216
  275
  344
  423
  512
  612
  723
  844
  975
  1,117
  1,269
  1,431
  1,602
  1,782
  1,971
  2,170
  2,378
  2,594
  2,820
  3,054
  3,299
  3,552
  3,816
  4,090
  4,375
Total debt, $m
  104
  178
  275
  397
  548
  732
  950
  1,204
  1,496
  1,828
  2,199
  2,609
  3,059
  3,547
  4,073
  4,636
  5,235
  5,869
  6,538
  7,240
  7,977
  8,746
  9,549
  10,385
  11,256
  12,161
  13,102
  14,081
  15,097
  16,153
Total liabilities, $m
  175
  249
  345
  468
  619
  802
  1,020
  1,274
  1,567
  1,898
  2,269
  2,680
  3,129
  3,617
  4,143
  4,706
  5,305
  5,939
  6,608
  7,311
  8,047
  8,816
  9,619
  10,456
  11,326
  12,232
  13,173
  14,151
  15,167
  16,224
Total equity, $m
  470
  669
  929
  1,258
  1,665
  2,158
  2,744
  3,428
  4,215
  5,107
  6,104
  7,208
  8,418
  9,731
  11,146
  12,660
  14,271
  15,977
  17,776
  19,666
  21,647
  23,717
  25,876
  28,126
  30,468
  32,904
  35,436
  38,067
  40,801
  43,642
Total liabilities and equity, $m
  645
  918
  1,274
  1,726
  2,284
  2,960
  3,764
  4,702
  5,782
  7,005
  8,373
  9,888
  11,547
  13,348
  15,289
  17,366
  19,576
  21,916
  24,384
  26,977
  29,694
  32,533
  35,495
  38,582
  41,794
  45,136
  48,609
  52,218
  55,968
  59,866
Debt-to-equity ratio
  0.220
  0.270
  0.300
  0.320
  0.330
  0.340
  0.350
  0.350
  0.360
  0.360
  0.360
  0.360
  0.360
  0.360
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
  0.370
Adjusted equity ratio
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729
  0.729

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  127
  214
  329
  474
  655
  874
  1,134
  1,438
  1,788
  2,185
  2,629
  3,120
  3,658
  4,242
  4,872
  5,545
  6,262
  7,021
  7,821
  8,662
  9,543
  10,463
  11,424
  12,425
  13,467
  14,550
  15,676
  16,847
  18,063
  19,327
Depreciation, amort., depletion, $m
  26
  37
  51
  70
  92
  119
  151
  189
  232
  281
  335
  396
  462
  534
  612
  695
  783
  877
  976
  1,080
  1,188
  1,302
  1,421
  1,544
  1,673
  1,806
  1,945
  2,090
  2,240
  2,396
Funds from operations, $m
  153
  252
  380
  544
  747
  993
  1,285
  1,627
  2,020
  2,466
  2,964
  3,516
  4,120
  4,777
  5,484
  6,240
  7,045
  7,898
  8,797
  9,741
  10,731
  11,765
  12,845
  13,969
  15,139
  16,357
  17,622
  18,937
  20,303
  21,723
Change in working capital, $m
  15
  20
  26
  33
  41
  49
  59
  69
  79
  89
  100
  111
  121
  132
  142
  152
  162
  171
  180
  189
  199
  208
  217
  226
  235
  244
  254
  264
  274
  285
Cash from operations, $m
  138
  232
  354
  511
  706
  943
  1,227
  1,558
  1,941
  2,376
  2,864
  3,405
  3,999
  4,645
  5,342
  6,089
  6,884
  7,727
  8,617
  9,552
  10,533
  11,558
  12,628
  13,744
  14,905
  16,112
  17,368
  18,673
  20,029
  21,438
Maintenance CAPEX, $m
  -18
  -26
  -37
  -51
  -69
  -91
  -118
  -151
  -188
  -231
  -280
  -335
  -396
  -462
  -534
  -612
  -695
  -783
  -877
  -976
  -1,080
  -1,188
  -1,302
  -1,421
  -1,544
  -1,673
  -1,806
  -1,945
  -2,090
  -2,240
New CAPEX, $m
  -82
  -110
  -142
  -180
  -223
  -271
  -322
  -376
  -432
  -490
  -548
  -606
  -664
  -721
  -777
  -831
  -885
  -937
  -988
  -1,038
  -1,087
  -1,136
  -1,186
  -1,235
  -1,286
  -1,337
  -1,390
  -1,444
  -1,501
  -1,560
Cash from investing activities, $m
  -100
  -136
  -179
  -231
  -292
  -362
  -440
  -527
  -620
  -721
  -828
  -941
  -1,060
  -1,183
  -1,311
  -1,443
  -1,580
  -1,720
  -1,865
  -2,014
  -2,167
  -2,324
  -2,488
  -2,656
  -2,830
  -3,010
  -3,196
  -3,389
  -3,591
  -3,800
Free cash flow, $m
  38
  96
  175
  280
  414
  581
  786
  1,032
  1,321
  1,655
  2,036
  2,464
  2,939
  3,462
  4,031
  4,645
  5,304
  6,007
  6,752
  7,539
  8,366
  9,233
  10,141
  11,088
  12,075
  13,103
  14,172
  15,283
  16,438
  17,639
Issuance/(repayment) of debt, $m
  55
  74
  96
  122
  151
  183
  218
  254
  292
  331
  371
  410
  450
  488
  526
  563
  599
  634
  669
  703
  736
  770
  803
  836
  871
  905
  941
  978
  1,016
  1,056
Issuance/(repurchase) of shares, $m
  23
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  78
  74
  96
  122
  151
  183
  218
  254
  292
  331
  371
  410
  450
  488
  526
  563
  599
  634
  669
  703
  736
  770
  803
  836
  871
  905
  941
  978
  1,016
  1,056
Total cash flow (excl. dividends), $m
  116
  170
  272
  402
  565
  765
  1,004
  1,287
  1,614
  1,987
  2,407
  2,874
  3,389
  3,950
  4,557
  5,208
  5,903
  6,641
  7,421
  8,241
  9,102
  10,003
  10,943
  11,924
  12,946
  14,008
  15,113
  16,261
  17,455
  18,695
Retained Cash Flow (-), $m
  -149
  -200
  -260
  -329
  -407
  -493
  -586
  -684
  -787
  -892
  -998
  -1,104
  -1,209
  -1,313
  -1,415
  -1,514
  -1,611
  -1,706
  -1,799
  -1,890
  -1,980
  -2,070
  -2,160
  -2,250
  -2,342
  -2,436
  -2,532
  -2,631
  -2,734
  -2,841
Prev. year cash balance distribution, $m
  13
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  8
  11
  16
  22
  30
  40
  51
  65
  82
  101
  122
  146
  172
  201
  232
  266
  302
  341
  381
  424
  469
  517
  566
  618
  671
  727
  785
  846
  909
  974
Cash available for distribution, $m
  -20
  -29
  12
  73
  158
  271
  418
  602
  827
  1,095
  1,409
  1,770
  2,180
  2,637
  3,142
  3,694
  4,292
  4,935
  5,622
  6,351
  7,122
  7,933
  8,784
  9,674
  10,604
  11,573
  12,581
  13,630
  14,721
  15,854
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -20
  -27
  11
  60
  122
  197
  283
  376
  475
  574
  669
  755
  829
  885
  922
  939
  934
  909
  866
  807
  737
  658
  576
  493
  412
  338
  270
  211
  161
  119
Current shareholders' claim on cash, %
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0
  97.0

Applied Optoelectronics, Inc. is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment. To Internet-based data center operators, it supplies optical transceivers that plug into switches and servers within the data center and allow these network devices to send and receive data over fiber optic cables. The Company supplies a range of products, including lasers, transmitters and transceivers, and turnkey equipment, to the CATV market. The Company designs, manufactures and integrates its own analog and digital lasers using a combination of Metal Organic Chemical Vapor Deposition (MOCVD) and its Molecular Beam Epitaxy (MBE) fabrication process.

FINANCIAL RATIOS  of  Applied Optoelectronics (AAOI)

Valuation Ratios
P/E Ratio 23.8
Price to Sales 2.8
Price to Book 3.3
Price to Tangible Book
Price to Cash Flow 13
Price to Free Cash Flow 105.6
Growth Rates
Sales Growth Rate 37.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -13.8%
Cap. Spend. - 3 Yr. Gr. Rate 38%
Financial Strength
Quick Ratio 6
Current Ratio 0
LT Debt to Equity 15.4%
Total Debt to Equity 18.9%
Interest Coverage 12
Management Effectiveness
Return On Assets 11.4%
Ret/ On Assets - 3 Yr. Avg. 6.5%
Return On Total Capital 12.3%
Ret/ On T. Cap. - 3 Yr. Avg. 7.2%
Return On Equity 15.8%
Return On Equity - 3 Yr. Avg. 9.4%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 33.3%
Gross Margin - 3 Yr. Avg. 32.9%
EBITDA Margin 14.2%
EBITDA Margin - 3 Yr. Avg. 11%
Operating Margin 8.8%
Oper. Margin - 3 Yr. Avg. 6.7%
Pre-Tax Margin 8%
Pre-Tax Margin - 3 Yr. Avg. 5.6%
Net Profit Margin 11.9%
Net Profit Margin - 3 Yr. Avg. 6.9%
Effective Tax Rate -47.6%
Eff/ Tax Rate - 3 Yr. Avg. -15.9%
Payout Ratio 0%

AAOI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AAOI stock intrinsic value calculation we used $382 million for the last fiscal year's total revenue generated by Applied Optoelectronics. The default revenue input number comes from 2017 income statement of Applied Optoelectronics. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AAOI stock valuation model: a) initial revenue growth rate of 46.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for AAOI is calculated based on our internal credit rating of Applied Optoelectronics, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Applied Optoelectronics.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AAOI stock the variable cost ratio is equal to 47.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $117 million in the base year in the intrinsic value calculation for AAOI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Applied Optoelectronics.

Corporate tax rate of 27% is the nominal tax rate for Applied Optoelectronics. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AAOI stock is equal to 2%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AAOI are equal to 46%.

Life of production assets of 10 years is the average useful life of capital assets used in Applied Optoelectronics operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AAOI is equal to 8.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $333 million for Applied Optoelectronics - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 19 million for Applied Optoelectronics is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Applied Optoelectronics at the current share price and the inputted number of shares is $0.8 billion.

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COMPANY NEWS

▶ Apple Supplier Hints At Greater 3D-Sensing iPhone Production   [Aug-08-18 04:22PM  Investor's Business Daily]
▶ Applied Optoelectronics: 2Q Earnings Snapshot   [06:29PM  Associated Press]
▶ 3 Large-Cap Stocks Set for Monster Growth   [Jun-01-18 12:23PM  InvestorPlace]
▶ These 3 Optical Networking Stocks Are Ridiculously Cheap   [May-29-18 09:33AM  Motley Fool]
▶ Applied Optoelectronics: 1Q Earnings Snapshot   [May-08-18 07:00PM  Associated Press]
▶ GE and Kohl's Are Among 2 Stocks Poised For Reversal   [Apr-23-18 01:22PM  TheStreet.com]
▶ Applied Optoelectronics Showcases New Technology at OFC   [Mar-08-18 04:05PM  GlobeNewswire]
▶ Bear Of The Day: Applied Optoelectronics (AAOI)   [Mar-01-18 06:27AM  Zacks]
▶ New Strong Sell Stocks for February 28th   [Feb-28-18 03:57AM  Zacks]
▶ Fiber-Optic Stocks Take Wild Ride On Volatile Market Days   [Feb-23-18 04:43PM  Investor's Business Daily]
▶ Applied Optoelectronics posts 4Q profit   [Feb-21-18 06:27PM  Associated Press]
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