B. Riley downgraded Applied Optoelectronics (AAOI) to Sell from Neutral with an unchanged price target of $14. The firm’s latest checks indicate 400G could be decelerating. With Applied Optoelectronics’ 800G yet to be qualified by any hyperscalers, the company can’t sustain a $100M quarterly run-rate on CATV alone, the analyst tells investors in a research note.
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