LITE - Lumentum Holdings

Mentioned as an infrastructure name the host wants to research. Part of the photonics/fiber optics AI infrastructure play.

Host lists Lumentum as one of the Nvidia equity-backed companies benefiting from AI infrastructure demand.

Trend line break, retrace, now heading lower. Head and shoulders pattern forming or possibly just broke — bearish formation. Stock went from ~$200 to over $1,000 and has corrected back to ~$800.

Aschenbrenner fully exited Lumentum, the stock that previously made him a fortune, suggesting he believes the trade has run its course

Photonics names have pricing power due to pent-up demand. Co-packaged optics required more in newer chip architectures. Up over 1,000% in the last year driven by hyperscaler customers. Host believes this area will see continued growth.

Stock down 4-7% despite decent earnings (EPS beat by 4%, slight revenue miss, revenue up 90% YoY). Hosts note it ran up ~40% going into earnings and suggest people may be confusing it with Lumen (LUMN). Guidance was strong (almost $1B on top end).

Host mentions Lumentum alongside Coherent as photonic names he'd feel confident in due to Nvidia's investment in the space. He wants to do due diligence to pick a winner.

Up literally 2,000% in a year — described as a textbook bubble. Soloway highlights it as an ancillary chip play showing unsustainable parabolic expansion.