US Stock Market Move | Optical communication concept stocks broadly rise; Lumentum (LITE.US) gains over 8%.

On Friday, optical communication concept stocks rose broadly. Applied Optoelectronics (AAOI.US) surged over 10%, Coherent (COHR.US) gained over 9%, Lumentum (LITE.US) rose over 8%, Corning Inc (GLW.US) climbed nearly 4%, Nokia Oyj Sponsored ADR (NOK.US) advanced over 2%, and Credo Technology (CRDO.US) gained over 1%. On the news front, Lumentum CEO Michael Hurlston said in an interview in Tokyo, Japan that demand for some products will still be about 70% unmet by next year, while demand for other products will still be 30% unmet by 2028. In April this year, Hurlston said he expected full-year 2028 capacity to be fully booked within two quarters.