Lumentum (LITE) stock plunges 11% as AI-optics names slide despite Needham’s $470 target
New York, Jan 8, 2026, 13:58 EST — Regular session Lumentum Holdings Inc (LITE.O) shares slid 10.9% to $350.22 on Thursday, after topping $399.88 earlier in the session and then sinking as low as $343.41. More than 11 million shares had changed hands by early afternoon. The move mattered because it snapped a sharp run that has turned the stock into a high-beta proxy for data-center buildouts. Lumentum jumped 11.3% on Tuesday to close at $397.42, a reminder of how fast money has been moving through the AI-linked optics trade. Investors The selloff was not just about one name. The