Lumentum (NASDAQ:LITE), a company backed by Nvidia (NASDAQ:NVDA), is rebounding after slipping into a local bear market between May and mid-July, when it fell to $594.
The stock has since recovered, mirroring gains across other technology names as focus shifts to its upcoming earnings report.
Lumentum Earnings to Demonstrate Strong Growth Nvidia, the biggest company in the world, invested in Lumentum a few months ago, citing its important role in the data center industry, where it provides solutions like optical transceivers, optical lasers, optical circuit switches, and coherent optical modules.
Its top customers include companies like Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), and Amazon (NASDAQ:AMZN).
The company’s performance will be in the spotlight this week when it publishes its financial results, which will help to justify its premium valuation.
