Shares of Coherent Inc. (COHR) plunged more than 14% on Tuesday.
The decline coincided with a broader selloff across the optical networking and photonics sector.
Corning Inc. (GLW) triggered the market reaction after releasing its second-quarter earnings report.
Corning exceeded profit and revenue estimates but issued third-quarter guidance that only met analyst expectations.
Lumentum Holdings Inc. and Ciena Corp. also recorded double-digit percentage losses during the session.
The selloff follows significant year-to-date gains for stocks tied to AI infrastructure and telecommunications spending.
Investors showed heightened sensitivity to signs of slowing momentum in these high-growth technology sectors.