Market News / Story
LITE, COHR, AAOI surge as Lumentum CEO says AI parts sold out through early 2029
Seeking Alpha ·
Seeking Alpha reports: Shares of optical equipment manufacturers surged after Lumentum said its components are “completely sold out” through early 2029, driven by strong demand from tech companies racing to build faster AI data centers. Lumentum is unable to meet about 70% of demand for some products through next year, and won’t be able to address 30% of demand for some other products through 2028, chief executive officer Michael Hurlston said in an interview in Tokyo on Friday, according…