Quick Read – AAOI plunged 17% while COHR and LITE fell 10% Thursday with no stock-specific catalyst, after huge year-to-date gains. – NVDA slid 2% and INTC dropped 6% as inverse semiconductor ETFs surged, signaling broad defensive repositioning across the AI-hardware complex. -…
mentum’s revenue surged 90% YoY and Coherent posted 21% growth last quarter, leaving both companies’ AI optical-networking fundamentals intact despite Thursday’s sell-off. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Coherent didn’t make the cut. Grab the names FREE today
Shares of high-flying photonics names are sliding at midday Thursday. Applied Optoelectronics (NASDAQ:AAOI) stock is down 17% to $114.93, the biggest decliner in the group and easily the sharpest single-session drop of the three. Coherent (NYSE:COHR) stock is off 10% to $331.57, while Lumentum (NASDAQ:LITE) stock is down 10% to $720.91.
The moves interrupt some of the best runs anywhere in tech this year. Applied Optoelectronics stock is up 233% year to date (YTD), Lumentum stock is up 98% YTD, and Coherent stock is up 80% YTD. Even after today’s selling, all three remain massive 2026 winners tied to the AI optical-networking build-out, and that kind of vertical price action carries built-in vulnerability to a single risk-off session.