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Fly News Breaks for November 7, 2018
INTC, FNSR, AAOI
Nov 7, 2018 | 20:38 EDT
Piper Jaffray analyst Troy Jensen lowered his price target on Applied Optoelectronics (AAOI) to $20 after its Q3 results, saying the company posted another "disappointing quarter" with "execution missteps" and market share loss to competitors. The analyst believes that Finisar (FNSR) and Intel (INTC) have likely gained share as "transceiver shipments to a key account were delayed due to quality problems with 25g lasers". The analyst keeps his Neutral rating and a cautious stance on Applied Optoelectronics based on its "high degree of customer concentration and persistent execution problems."
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