Be interested to know how wafer scale chips impact on this
Optical Networking Rebounds Broadly — Can a Sector Rally Without Any News?
Optical networking rebounded hard Wednesday. Lumentum +9.59% to $919.40 led the S&P 500, with AXT +11.44%, Semtech +11.03%, Coherent about +6% and Marvell +3.61% to $229.71. Lumentum had no catalyst - no earnings, no guidance, no order, no rating change. Offered instead: the group had sold off hard, and co-packaged optics makes AXT a beneficiary. Neither explains the name that led. Corning, down 14% Monday, sat it out. The bull case is that AI data must cross the optical layer and capacity is tight. That was just as true last week, while these names fell. How much of this is demand?
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