Lumentum Holdings Inc is trading at $894.83 (down 5.3%) as shares retreat following a sharp rally tied to its S&P 500 inclusion and a recent debt-for-equity exchange.
- The pullback comes amid a broader sell-off in AI and semiconductor names, driven by investor rotation out of high-valuation tech due to rising-rate fears.
- Weak sentiment across the chip sector has left the stock vulnerable to profit-taking after its recent period of significant outperformance.