$Lumentum(LITE)$ bearish engulfing . Steam has ran out after injecting 300 mill
Third time hitting 1000 but rejected spells trouble
Modified in.05-06 21:35
Lumentum Loses 11% After Beat: Is $770 a Buying Opportunity?
Lumentum posted Q3 revenue growth and beat profit estimates, yet the two-day cumulative decline to nearly 11%; Coherent (-10%) and Applied Optoelectronics (-14%) fell in tandem, triggering a broad optical sector selloff as 'optical trade cooling' dominated institutional commentary. The AI data center optical module narrative that drove the group's extended rally is now being aggressively repriced. A beats-on-all-fronts earnings report yielding a two-day 11% decline — has the optical AI trade been over-hyped, or is this a technical pullback? Is $770 a level worth buying?
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