LITE

In the past six months, Lumentum Holdings, Inc. (LITE) reported strong fiscal Q2 and Q3 2026 earnings, beating analyst expectations with substantial year-over-year revenue growth driven by robust demand from cloud and AI infrastructure. Lumentum announced a multiyear partnership with NVIDIA, reportedly worth about $2 billion, which includes research on advanced optics and manufacturing expansion. The company also plans a 240,000-square-foot manufacturing facility in Greensboro, North Carolina, to meet increasing demand. The stock's strong performance led to its inclusion in the S&P 500 in March and its upcoming addition to the Nasdaq-100 index on May 18. The stock also experienced a tumble due to concerns over near-term dilution following a convertible note-for-stock exchange. Despite this, the stock has shown a remarkable surge, gaining nearly 150% year-to-date and over 1,293% in the past year, largely attributed to the booming demand for AI optics.