ERP News

The cloud boom is still raining money on optical-networking companies

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Applied Optoelectronics Inc. proved Wednesday that the boom in optical-networking products is not slowing down as companies build out corporate and cloud-computing data centers.

On Tuesday, Applied Optoelectronics AAOI, +22.98%  said its first-quarter results will easily exceed its previous guidance, thanks to the “continued robust demand” for its data center products. The company did not say much beyond its raised guidance and noted it will report final quarterly results on May 4, but the news fueled a 20% jump in its stock in after-hours trading.

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