On May 29, Lumentum Holdings fell 3.01% in regular trading, trading at $846.74/share, with trading volume of approximately $967 million. The stock extended its recent multi-day pullback, with short-term selling pressure continuing to dominate.

On the news front, since being added to the Nasdaq 100 index in mid-May, profit-taking pressure has intensified significantly, with the stock experiencing a prolonged correction and substantial cumulative losses. The broader Communication Equipment sector also remained under pressure, with Applied Optoelectronics down 3.8%, Ondas Holdings down 9.25%, Nokia down 1.21%, and Cisco down 0.32%, while Arista Networks rose 2.91%. Although analysts maintain a Buy rating with a $1,186 target price, citing NVIDIA's $2 billion investment and locked-in 800G/1.6T optical chip capacity through multi-year supply agreements, near-term selling momentum has overwhelmed bullish catalysts, deepening the correction.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)