$AAOI reports Q2 earnings on Thursday, with the stock gapping 17% and trading under $80 last week while still 50% off its all-time high. Investors are focusing on the management call and Q3 guidance regarding the 800G unit ramp and 1.6T shipments, rather than just the Q2 print. Additionally, $AXTI jumped 50% in a single day following its earnings report.