Applied Optoelectronics Drops 6.11% as Storage and Cloud Stocks Slide

Shares across memory, compute-cloud and optical communications groups fell in U.S. premarket trading Oct. 22, with Applied Optoelectronics down 6.11%, the largest decline among the listed optical names.

SanDisk led the listed memory stocks lower, falling 4.50%. SK Hynix declined 4.23%, Western Digital dropped 3.58%, Micron fell 3.52% and Seagate Technology lost 3.43%.

Nebius posted the steepest decline among the compute-cloud stocks at 5.45%. IREN fell 5.28%, CoreWeave dropped 5.21%, Applied Digital lost 5.15% and Oracle declined 2.44%, the smallest drop in that group.

Applied Optoelectronics led the optical group lower. Coherent fell 5.37%, Marvell Technology lost 5.20%, Lumentum declined 4.90%, Ciena slipped 4.52%, Corning fell 4.38% and Broadcom dropped 2.34%. Across all three groups, the listed declines ranged from Broadcom's 2.34% to Applied Optoelectronics' 6.11%.