Lumentum Tied to AI Data Center Optical Bottleneck

J.P. Morgan reiterated an Overweight rating on Lumentum on June 11, 2026, arguing co-packaged optics adoption concerns were overstated. Lumentum reported fiscal Q3 2026 revenue of $808.4 million, up 90% year-over-year, and net income of $144.2 million. The optical layer is critical as AI clusters demand faster, lower-latency links.