Shares of Applied Optoelectronics AAOI soared more than 8% on Friday after the fiber-optics company pre-announced a quarterly earnings beat and revenue beat.AAOI management said that the company now expects non-GAAP profit in the range of $1.31 to $1.36 per share, with quarterly revenues coming in at about $117 million. This updated guidance is well above our current consensus estimates of $1.07 per share and 109.7 million, respectively.Piper Jaffray analyst Troy Jensen, who currently rates AAOI as “overweight,” hiked his price target for the stock to $90 from $85.“AAOI pre-released another impressive quarter with revenue upside and record margin levels that have never been seen before in the optical component industry (45% gross, roughly 30% operating),” said Jensen in a note.The analyst’s new price target represents more than a 15% premium from Thursday’s close.Applied Optoelectronics, which is currently a Zacks Rank #1 (Strong Buy), is benefitting from a new batch of customers looking to upgrade their datacenters. Companies like Facebook FB and Amazon AMZN are continuing to shift towards hyper-fast communications for the cloud, and fiber-optics equipment makes like AAOI are right there to satisfy them.Shares of AAOI have gained a staggering 575% over the past year. The stock is up about 210% year-to-date.Want more stock market analysis from this author? Make sure to follow @https://twitter.com/Ryan_McQueeney!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); on Twitter!More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN): Free Stock Analysis Report Facebook, Inc. (FB): Free Stock Analysis Report Applied Optoelectronics, Inc. (AAOI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research