Applied Optoelectronics Sinks 12% on $600M Equity Offering, Lumentum and Coherent Drop 5%

Applied Optoelectronics Sinks 12% on $600M Equity Offering, Lumentum and Coherent Drop 5% David Moadel Mon, August 24, 2026 at 9:22 AM EDT 4 min read AAOI LITE COHR GLW NVDA Quick Read Applied Optoelectronics fell 12% on a $600M equity offering, dragging Lumentum and Coherent down 5% each despite both recently beating earnings. Corning slipped just 3% and SOXX dropped 2%, confirming the dilution scare stayed concentrated inside the optical transceiver corner of tech. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Coherent didn't make the cut. Grab the names FREE today . Applied Optoelectronics ( NASDAQ:AAOI ) stock is down 12% to $109.94 early Monday after the company disclosed a plan to raise $600 million through an at-the-market equity offering. The move takes back a slice of what had been a scorching run for the AI optical transceiver name. Applied Optoelectronics stock was up 258% year to date through Friday's close. luchschenF / Shutterstock.com The dilution risk is bleeding into peers. Meanwhile, Lumentum Holdings ( NASDAQ:LITE ) stock is down 5% to $822.69, with the shares still up 135% year to date through Friday's close. Coherent ( NYSE:COHR ) stock is also down 5% to $273.68, extending a rough stretch for the optics complex. Additionally, Corning ( NYSE:GLW ) stock is down 3% to $145.90, a shallower cut that lines up with its lighter merchant transceiver exposure. The selling is concentrated inside optics. The iShares Semiconduc…