U.S. stocks movement: Optical communication concept stocks rise collectively, Lumentum up over 2%

Glonghui, April 10 | U.S. stock market optical communication concept stocks collectively climbed. Among them, Astera Labs surged by more than 13%, POET Technologies rose 12%, Applied increased by over 11%, Credo Technology rose nearly 8%, Marvell Technology and Fabrinet both gained more than 5%, Coherent rose nearly 5%, while Ciena and Lumentum both increased by more than 2%.On the news side, Lumentum CEO Michael Helston stated last Friday that technology giants' demand for the company's optical components is accelerating and it won’t be long before even the 2028 production capacity is sold out. Helston said: “Several large-scale U.S. cloud providers have extremely robust capital expenditures, and there’s absolutely no sign of a slowdown. Our capacity is increasingly unable to keep up with demand. If the current trend continues, in just two more quarters, our entire annual production capacity through 2028 will be fully sold.” According to Helston, this industry upcycle is expected to maintain its prosperity for at least another five years.