🟢 Lumentum Holdings Inc. is trading 4.7% up today as CEO highlights new AI growth driver

Lumentum Holdings Inc. is trading 4.7% up at $931.31 on positive commentary regarding its growth prospects in AI data centers.

• The company's CEO highlighted near-packaged optics (NPO) as a major new growth driver, viewing it as a potentially larger opportunity than the current focus on co-packaged optics (CPO).
• This new emphasis points to a second wave of AI-related optics demand, layering on top of existing programs with major hyperscalers.
• The move follows a J.P. Morgan note from the previous day that encouraged investors to buy the dip in optical-networking names and reiterated an Overweight rating.