On September 17, Lumentum rose 3.07% in pre-market trading, trading at $946.855/share, with turnover of $53.875 million. The stock continues to build on momentum from the prior session, when it surged 9.6% to lead the S&P 500 alongside Coherent, which gained 6.9%.

The ongoing rally reflects a broad rebound across the optical communication sector following a sharp sell-off on September 14, when AI infrastructure giants signaled plans to slow their expansion pace. That day, Lumentum plunged over 7%, while Coherent and Corning each dropped more than 9%. Market sentiment has since recovered, with analysts describing the move as a snapback after oversold conditions. Freedom Capital Markets noted the rebound was triggered by easing concerns over AI model development momentum.

The broader backdrop remains supportive. Goldman Sachs recently raised optical module shipment forecasts, while Deutsche Bank and Evercore ISI initiated coverage with Buy ratings. Rothschild adjusted its price target upward to $1,294.85. Despite the Fed raising rates by 25 basis points on Wednesday, optical networking stocks continued to outperform the broader market.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)