Lumentum stock falls as Apple makes investment in rival Finisar [MarketWatch]
Lumentum Holdings Inc. (LITE)
Last lumentum holdings inc. earnings: 2/4 07:30 am
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Source: MarketWatch
Lumentum stock falls as Apple makes investment in rival Finisar Shares of Lumentum Holdings Inc. LITE, -11.30% are down 8.7% in premarket trading Wednesday following news that Apple Inc. AAPL, +0.90% was investing $390 million in Finisar Corp. FNSR, +28.69% one of Lumentum's competitors. Both companies make vertical-cavity surface-emitting lasers, or VCSELs, which help enable 3D-sensing capabilities and facial recognition. In a release, Apple said that its investment in Finisar would "enable Finisar to exponentially increase its R&D spending and high-volume production" of VCSELs. "In the fourth quarter of 2017, Apple will purchase 10 times more VCSEL wafers than were previously manufactured worldwide over a similar time period," the company added. As of Tuesday's close, Apple shares were up 48% so far in 2017, compared with a 34% gain for Lumentum and a 36% drop for Finisar. The S&P 500 Index SPX, +0.20% has gained 19%.
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LITE
Earnings
- 2/8/24 - Beat
LITE
Sec Filings
- 2/27/24 - Form 8-K
- 2/20/24 - Form 4
- 2/20/24 - Form 4
- LITE's page on the SEC website