On July 16, Viavi Solutions fell 5.03% in regular trading, trading at $38.18/share, with turnover of $21.02 million.

On the news front, the AI hardware sector sell-off extended into its third consecutive trading day, broadly pressuring communication equipment stocks. Nokia fell 6.84%, Applied Optoelectronics fell 5.39%, Lumentum fell 4.75%, Arista Networks fell 3.89%, and Cisco fell 2.93%, reflecting a sector-wide decline pattern. Investment bank Stifel previously noted that market expectations had run ahead of fundamentals, triggering a rational valuation correction. Viavi was identified as a name where earnings revision potential could eventually outpace multiple compression, but it remains weighed down by sector-wide selling pressure in the near term.

Although the company recently secured $1.1 million in EU funding from the European Smart Networks and Services Joint Undertaking and Horizon Europe to support the Shield-6G cybersecurity project, the positive sentiment failed to offset systematic sector selling pressure.

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