Why Lumentum Holdings Rose After Posting Fourth-Quarter Results
LITELumentum(LITE) Seeking Alpha·2024-08-19 20:00
JHVEPhoto Last week, Lumentum Holdings (NASDAQ:LITE) joined the list of stocks forming a v-shaped rebound. The other companies included Lumen Technologies (LUMN), Coherent (COHR), and Celestica (CLS). In addition to similar recent trading actions, those firms benefit from customer spending in artificial intelligence-related hardware expansion. Japan’s Black Friday moment on August 6, 2024, sent Lumentum shares to a low of $35.35. Last Friday, shares closed at $51.98, up by 20% for the week. Stock market ...