On July 17, Lumentum Holdings fell 4.11% in pre-market trading, trading at approximately $677.56/share, with turnover of $4.68 million.

On the news front, the optical communications sector has experienced consecutive days of heavy selling, with storage chip and optical communication concept stocks showing intensifying linked downward pressure. Within the sector, Corning fell over 7%, Applied Optoelectronics dropped nearly 5%, and Nokia declined over 3%, indicating persistent sector-wide selling pressure.

The stock had surged over 12% on July 9, driven by AI computing power tailwinds, but has since been in continuous retreat. TD Cowen previously slashed its target price from $995 to $800 while maintaining a Hold rating. The current share price has fallen well below the revised target. Investment bank Stifel had noted that the AI hardware selloff should be viewed as a valuation reset rather than demand weakness, but short-term profit-taking pressure has yet to fully dissipate, and the deep sector correction pattern persists.

(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.)