Applied Optoelectronics: When Investing Is Like Gambling

Quarterly earnings can delight or disappoint, or even just confirm expectations, and this is hard to tell in advance.
And it’s not just with respect to one’s own expectations, more importantly is what the market expectations were.
Management, by building a track record, can take at least some of the guesswork out of this equation.
But this is easier in some sectors than others, as we illustrate with Applied Optoelectronics. Still they should have done better.

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