LITX is trading at $28.50 (-10.84%), extending the optical-networking pullback as investors reassess Lumentum’s aggressive FY2028 earnings target and execution risks.
- Monday’s broader risk-off backdrop also weighed on the sector, with Nasdaq futures falling 1.61% and Treasury yields approaching 5%.
- Oil remained above $100 amid Middle East shipping concerns, pressuring high-valuation technology and communications-equipment stocks.