On October 19, Lumentum rose 3.14% Overnight, trading at $850.0 per share, with turnover of $8.356 million.

The move coincided with a technical rebound across optical communications names as the recent high-level pullback in the group showed signs of easing and sentiment improved.

Background context remains supportive: management recently said AI server optical component orders are sold out into early 2029, with roughly 70% of demand for some products still unmet before 2027. Recent analyst commentary also remained constructive on AI data center buildouts and the outlook for Ethernet and optical communications, highlighting Lumentum and Coherent during the sector's retracement. Sector peers also moved higher, including Applied Optoelectronics, Ciena, Arista Networks, and Nokia.

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