Coherent is trading at $260.25 (-6.03%) in pre-market following a sharp overnight move that aligns with a broader selloff in semiconductor and AI photonics names.
- No clear company-specific catalyst is evident; the decline is primarily driven by sector-wide pressure on chip stocks due to valuation and AI-spending concerns.
- The broader semiconductor sector is showing significant weakness, with the SOXX ETF also trading lower in the pre-market session.