Applied Optoelectronics inks supply deal with Microsoft
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Applied Optoelectronics (NASDAQ:AAOI) said Wednesday it entered into a supply agreement with Microsoft (MSFT), under which it will provide certain design and assembly services of goods in accordance with Microsoft's (MSFT) specifications.
Shares of Applied Optoelectronics (AAOI), which ended 19.9% lower on Wednesday, climbed 11% in afterhours trading.
The company will build the supply chain to manufacture, assemble, sell, and ship the goods to Microsoft (MSFT) or an authorized purchasing entity. 
The initial term of the agreement is five years, with automatic renewal unless terminated earlier.
Source: Form 8-K filing
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