Optical Shares Rise. Ciena up 9%; Nokia, Fabrinet up over 8%; Lumentum, Coherent, Marvell Tech up Around 5%; Cornig up over 4%

Optical stocks rose on Wednesday. Ciena up 9%; Nokia, Fabrinet up over 8%; Lumentum, Coherent, Marvell Tech up around 5%; Cornig up over 4%.

The optical communications sector saw broad-based strength. On the news front, optical communications leader Lumentum reported Q4 fiscal-year results after the close on August 11, posting revenue of $10.1 billion, up 109% year-over-year, and adjusted earnings per share of $3.23, up 267% year-over-year — both significantly exceeding market expectations. The results served as a strong catalyst for the broader optical networking space.

As a core supplier of optical networking equipment, Ciena is a direct beneficiary of surging AI data center optical interconnect demand. Industry data from Light Counting shows full-year optical module and related product sales reached $26.8 billion, representing 74% year-over-year growth. Ethernet optical module markets are projected to grow 65%, with 800G shipments expected to more than double and 1.6T module volumes set to scale significantly.