--- title: "U.S. stock intraday update: Received record orders but fell 12.66%? High valuation and rating downgrade suppress Applied Optoelectronics" type: "News" locale: "en" url: "https://longbridge.com/en/news/290597267.md" description: "Applied Optoelectronics fell 12.66%; Lumentum Holdings fell 7.91%, with a transaction volume of USD 2.171 billion; Cisco rose 0.39%, with a transaction volume of USD 1.055 billion; Nokia fell 4.92%, with a transaction volume of USD 902 million; Arista Networks fell 6.34%, with a market value of USD 201.6 billion" datetime: "2026-06-23T18:02:54.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290597267.md) - [en](https://longbridge.com/en/news/290597267.md) - [zh-HK](https://longbridge.com/zh-HK/news/290597267.md) --- # U.S. stock intraday update: Received record orders but fell 12.66%? High valuation and rating downgrade suppress Applied Optoelectronics **U.S. Stock Market Midday Update** Applied Optoelectronics fell 12.66%. Based on recent key news: 1. On June 23, Applied Optoelectronics placed a record follow-up order in Houston for photonic equipment production, increasing capacity for AI data center optical interconnect demand, supporting faster production enhancements in Texas. This order supports the transition to 6-inch indium phosphide wafer production, leading to stock price fluctuations. 2. On June 22, despite Applied Optoelectronics' strong performance over the past year, analysts believe five other stocks offer better investment value, with the current rating for Applied Optoelectronics being hold, affecting market confidence. 3. On June 22, Applied Optoelectronics performed excellently over the past year, with stock prices rising over 600%, but recent market expectations for its future performance have declined, leading to a drop in stock prices. The optical communication market is expected to grow to $15.4 billion by 2028. **Top Stocks by Industry Trading Volume** Lumentum fell 7.91%. Based on recent key news: 1. On June 23, the optical communication market is expected to grow to $15.4 billion by 2028, and the CPO market is expected to grow from zero to $91 billion within two and a half years. Market expectations for future growth in optical communication may lead to stock price fluctuations for Lumentum. Source: Goldman Sachs Research 2. On June 22, analysts believe Lumentum is not among the current top five recommended stocks, despite its rating being moderate buy. Analyst ratings may affect investor confidence. Source: MarketBeat 3. On June 23, the strategic bargaining power of Chinese indium production has increased, which may impact the optical module market. The price of indium phosphide has risen by 250%, which may affect Lumentum's supply chain. Source: Observer Network, strong growth expectations for the optical communication market, significant capital inflow. Cisco rose 0.39%, with increased trading volume. Based on recent key news: 1. On June 23, Cisco benefited from strong AI demand, with third-quarter revenue increasing by 12% year-on-year. However, telecom capital expenditures limited the company's profit margins, leading investors to potentially choose faster-growing companies for investment, causing stock price fluctuations. 2. On June 23, the U.S. Supreme Court is hearing a case against Cisco for allegedly assisting China in human rights violations. This case may affect the company's reputation and stock price. 3. On June 21, analyst ratings show Cisco as "moderate buy," but it was not included in the top recommended stock list, affecting market confidence. Strong AI demand and telecom spending limit profits. Nokia fell 4.92%. Based on recent key news: 1. On June 22, Google Cloud and Nokia announced a partnership to integrate Google's Gemini model into Nokia's assurance center. This move aims to enhance network automation and problem-solving efficiency, expected to significantly improve telecom operators' operational capabilities. This news initially boosted Nokia's stock price, but market doubts about its long-term impact led to a price decline 2. On June 22, China Telecom announced that it has listed Nokia as one of the direct procurement suppliers for its 100G (200G) DWDM equipment expansion project. This news indicates Nokia's continued influence in the Chinese market, but it failed to immediately boost its stock price. 3. On June 23, Nokia showcased upgrades to its autonomous network product portfolio at the DTW conference in Copenhagen, adding a pre-built AI intelligence library and new RAN automation features aimed at improving reliability and reducing operational costs. Although this move demonstrates technological advancement, the market reaction was not as strong as expected. The acceleration of AI applications in the telecommunications industry has led to noticeable market volatility. **Stocks ranked among the top in industry market capitalization** Arista Networks fell 6.34%. Based on recent key news: 1. On June 22, Arista Networks faced supply chain pressures that impacted profit margins. The company has performed well in the AI data center sector, but component supply chain constraints have put pressure on profit margins, leading to increased stock price volatility. Source: TipRanks 2. On June 23, analyst ratings were not included in the recommended list. Although Arista Networks received a buy rating, top analysts believe that five other stocks offer better investment value, affecting market confidence. Source: MarketBeat 3. On June 21, concerns about the risks of an AI bubble intensified. Polymarket traders have increased pricing on the risk of an AI bubble burst, impacting market sentiment for related stocks. 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