Call it a moonshot with its foot still on the gas. Lumentum Holdings (LITE), the photonics and laser component manufacturer sitting right at the heart of hyperscale data center interconnects, has rocketed 1,539% in the last 52 weeks. Blowout earnings growth and the artificial intelligence (AI) gold rush have fanned the flames, and the stock is steadily riding the wave.
Founded in 2015 as a spinoff from JDS Uniphase, the company wasted no time striking while the iron was hot. On March 2, the stock surged 11.8% as it rolled out multiyear strategic agreements with NVIDIA Corporation (NVDA) to push the envelope on advanced optics technologies, with research and development aimed at powering next-generation AI infrastructure and system designs.
