Lumentum Holdings Inc. (LITE.US) continued its upward trajectory on Tuesday, opening nearly 8% higher. The stock has surged 87% year-to-date and is currently trading at $687.23. The rally follows the announcement that Lumentum will officially join the S&P 500 index on March 23, a move expected to drive significant passive buying from index funds. In a related development, on March 2, NVIDIA revealed a multi-year strategic agreement with Lumentum, which includes a $2 billion investment and procurement commitment aimed at accelerating the development of AI optical interconnect technology.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.