Applied Optoelectronics Sinks 16%, Coherent Tumbles 14% Despite Strong Outlook, Lumentum Plunges 13% as AI Optical Stocks Slide
A 247wallst.com article by David Moadel reports AI optical stocks fell for a second straight session on November 5, 2026, with Applied Optoelectronics down 16% to $50, Coherent down 14% despite a beat-and-raise quarter, and Lumentum down 13%, after Democrats won both houses of Congress and Qualcomm warned on memory costs. It notes the selling treated the supply chain as one trade despite strong outlooks, and Reuters attributed the selloff to concerns about data center expansion hurdles.
