🔴 Optical Networking ETF (LITX) is trading 4% down as investors reassess Lumentum's FY2028 earnings target

LITX is trading at $31.22, down -3.97%, as investors reassess Lumentum’s ambitious FY2028 earnings target.

• Lumentum fell on September 10 amid reassessment of execution risks, valuation, and its ambitious FY2028 earnings target, reversing LITX’s September 8–10 rally.
• Broader markets are higher after August CPI, so this is not a general equity selloff; sector-specific profit-taking, elevated-yield pressure on AI-connectivity stocks, and de-risking in concentrated optical-networking and AI-infrastructure exposure are most likely drivers.