Coherent is trading 4% down today at $300.67 as photonics and optical networking stocks pull back following a strong recent rally and shifting AI capex sentiment.
- The decline is attributed to sector-wide profit taking and a reassessment of near-term upside in AI photonics rather than any company-specific negative developments.
- Market participants are recalibrating expectations for the optical networking space after a period of significant outperformance.