Northland analyst Tim Savageaux raised the firm’s price target on Applied Optoelectronics (AAOI) to $7 from $5 and keeps an Outperform rating on the shares. The firm has emerged from investor meetings with the company’s management with a better view of the magnitude of the opportunity facing the company in 400/800G lasers and active optical cables to support AI/ML, and Northland sees the potential for Microsoft (MSFT) revenue to move well above previous annual peaks of $100M+, the analyst tells investors in a research note.
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Published first on TheFly
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