Applied Opt is trading 10% down at $182.55 following a disclosed multimillion-dollar insider share sale and renewed pressure on AI hardware names.
- The stock is tracking a broader selloff in AI-linked hardware following Broadcom’s weak AI chip outlook, which has dampened sentiment across the sector.
- A risk-off environment is weighing on the Nasdaq as stronger-than-expected U.S. labor data fuels expectations for higher-for-longer interest rates, pressuring high-valuation tech stocks.