Stock Track | Lumentum Plunges 5.18% in Pre-market as Nvidia's Mixed Copper/Optics Strategy Disappoints

Stock Track03-17 20:03

Lumentum's stock plunged 5.18% in pre-market trading on Tuesday.

The decline came after Nvidia CEO Jensen Huang indicated at the company's GTC conference that Nvidia will scale up with both copper and co-packaged optics rather than fully transitioning to optical fiber for data transfer between artificial-intelligence chips. This disappointed investors who had hoped for a stronger commitment to optical networking technology that would benefit companies like Lumentum.

Analysts noted that expectations for near-term adoption of co-packaged optics may have been too high, with J.P. Morgan suggesting that "CPO adoption expectations may be too high in the near to medium term." The comments follow similar messaging from Broadcom CEO Hock Tan earlier this month, suggesting the shift from copper to fiber may not happen this year or even next.

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