Corning Incorporated (NYSE:GLW) delivered rapid optical growth on July 28, then suffered a share-price decline of more than 20% after its guidance fell short of elevated expectations. Coherent Corp. (NYSE:COHR) also traded sharply lower. Coherent belongs in this story for a specific reason: the two companies monetize different components of the same AI data-center links.
Corning Incorporated (NYSE:GLW) supplies the passive layer, including optical fiber, cable and dense connector systems. Coherent supplies active devices and modules, including lasers, photodiodes and 800G and 1.6T transceivers that convert electrical signals into light and back again. As clusters add accelerators, network builders need both more fiber paths and faster optical endpoints. Corning's order pace can therefore provide a partial read-through on the volume and timing of deployments that create transceiver demand for Coherent Corp. (NYSE:COHR). It cannot establish Coherent's market share, pricing or margins.
Corning reported second-quarter core sales of $4.74 billion, up 17% year over year, and core earnings of $0.78 a share, up 30%. Optical Communications sales increased 32% to $2.07 billion. Within that segment, Enterprise Networks grew 65%, and the company said generative-AI product sales grew significantly faster.
The disappointment came from the next quarter. Corning projected $4.9 billion to $5.0 billion of third-quarter core sales, about 16% year-over-year growth but slightly below Wall Street's expectation, according to Reuters. Optical growth also eased from 36% in the first quarter to 32% in the second. Corning had gained roughly 64% in 2026 through the prior close, leaving little room for even modest deceleration.
Coherent's own latest quarter, ended March 31, argues against treating Corning's guidance as proof of weaker Coherent operations. Revenue rose 21% to $1.81 billion, GAAP gross margin reached 37.7%, and management cited exceptionally strong data-center and communications demand while expanding capacity. Its product roadmap includes 1.6T transceivers, lasers and photodiodes for AI networks. Different customer mixes, active-component content and manufacturing yields can make its results diverge from Corning's.

#corning #optical

With a market cap of $55.3 billion, Ciena Corporation (CIEN) is a global network technology company that provides hardware, software, and services to telecom operators, cloud providers, enterprises, and government organizations across multiple regions worldwide. It specializes in optical networking, routing and switching platforms, automation software, and network support services through segments such as Networking Platforms, Blue Planet Automation, and Global Services.
The Hanover, Maryland-based company is slated to announce its fiscal Q3 2026 results soon. Ahead of the release, **** ysts predict CIEN to report EPS of $1.45, a surge of 253.7% from $0.41 in the year-ago quarter. It has exceeded Wall Street's earnings expectations in each of the past four quarters.
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Interested in Nokia Corporation? Here are five stocks we like better.
Nokia posted stronger Q2 2026 results, with 9% constant-currency net sales growth and improved margins. Network Infrastructure led the gain, while comparable operating profit rose to EUR 434 million and gross margin increased to 46%.
AI and cloud demand was a major growth driver, with sales from those customers more than doubling to EUR 446 million and order intake reaching EUR 2.8 billion. Management warned the orders were lumpy and that about half should convert to revenue within the next 12 months.
Nokia highlighted strategic investments in AI-RAN and optical capacity, including the launch of its first commercial AI-RAN platform and expansion of manufacturing in San Jose, Pennsylvania, and Arizona. The company also maintained its outlook, though it expects third-quarter mobile margins to dip before improving later in the year.
The New Nokia: A Bullish Upgrade Ignites This Big AI Bet

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Deep Sail Capital Partners, an investment management company, released its first-quarter 2026 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund significantly outperformed both of its benchmarks, the Russell 2000 Mid Cap Growth Index and the Russell 2000 Index, returning 41.6% net of fees while averaging 88% net long exposure. YTD, the fund returned 16.5% net of fees. long portfolio significantly outperformed both benchmarks, while the short portfolio was mixed in the quarter. The letter states that there was a notable performance push in Q1, which was reflected in Q2, driven by both the Iran War and idiosyncratic impacts on positions in the fund. In addition, please check the Fund's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Deep Sail Capital Partners highlighted Credo Technology Group Holding Ltd (NASDAQ:CRDO) as a notable performance contributor. Credo Technology Group Holding Ltd (NASDAQ:CRDO) is a semiconductor company that provides high-speed connectivity solutions for optical and electrical Ethernet and PCIe applications. On July 21, 2026, Credo Technology Group Holding Ltd (NASDAQ:CRDO) closed at $223.87 per share. One-month return of Credo Technology Group Holding Ltd (NASDAQ:CRDO) was -16.77%, and its shares gained 127.49% over the past 52 weeks. Credo Technology Group Holding Ltd (NASDAQ:CRDO) has a market capitalization of $41.75 billion.
Deep Sail Capital Partners stated the following regarding Credo Technology Group Holding Ltd (NASDAQ:CRDO) in its Q2 2026 investor update:
"There were a few large detractors at the end of the Q1 that have reversed in Q2 including our two biggest contributors in Q2 Credo Technology Group Holding Ltd (NASDAQ:CRDO) and Amplitech. Credo Technologies was down over 50% from its ATH by the end of March on the narrative that "Copper is dead" in data centers. That narrative has since changed in Q2 with the market beginning to realize that Credo's ZeroFlap optics platform is a real second leg for the company and the acquisition of Dust Photonics, an integrated circuit optics company, makes Credo a viable optics player. The company returned 191% in Q2. I continue to view the company favorably on a growth and valuation basis and it is one of the fund's largest holdings."
Credo Technology Group Holding Ltd (NASDAQ:CRDO) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 59 hedge fund portfolios held Credo Technology Group Holding Ltd (NASDAQ:CRDO) at the end of the first quarter, compared to 69 in the previous quarter. While we acknowledge the potential of Credo Technology Group Holding Ltd (NASDAQ:CRDO) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free repor

Fred Alger Management, an investment management company, released its "Alger Small Cap Focus Fund" second-quarter 2026 investor letter. A copy of the letter can be downloaded here. U.S. equities experienced a strong recovery in Q2 2026, with the S&P 500 Index gaining 15.2%, marking its best quarter since 2020. A ceasefire between the United States and Iran and accelerated investment in artificial intelligence (AI) fueled market optimism in the quarter, driving the Information Technology and Industrials sectors forward while Energy and Utilities lagged due to falling oil and gas prices. In June, the Federal Reserve maintained steady interest rates, but the meeting had a hawkish tone. As AI transitions into its agentic phase, opportunities are identified within sectors adopting the technology. The Alger Small Cap Focus Fund's Class A shares outperformed the Russell 2000 Growth Index in the quarter, driven by strong performances in the Industrials and Health Care sectors, while Financials and Consumer Discretionary detracted from the performance. In addition, please check the Fund's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Alger Small Cap Focus Fund highlighted Credo Technology Group Holding Ltd (NASDAQ:CRDO) as a notable performance contributor. Credo Technology Group Holding Ltd (NASDAQ:CRDO) is a US-based semiconductor company that provides high-speed connectivity solutions for optical and electrical Ethernet and PCIe applications. On July 20, 2026, Credo Technology Group Holding Ltd (NASDAQ:CRDO) closed at $212.07 per share. One-month return of Credo Technology Group Holding Ltd (NASDAQ:CRDO) was -20.23%, and its shares gained 133.50% over the past 52 weeks. Credo Technology Group Holding Ltd (NASDAQ:CRDO) has a market capitalization of $39.55 billion.
Alger Small Cap Focus Fund stated the following regarding Credo Technology Group Holding Ltd (NASDAQ:CRDO) in its Q2 2026 investor update:
"Credo Technology Group Holding Ltd (NASDAQ:CRDO) provides high-speed connectivity solutions used to move data across AI data centers and hyperscale networks, including active electrical cables, optical digital signal processors, and PCIe retimers. As AI systems become larger and more complex, the need to move data quickly and efficiently between servers, GPUs, and networking equipment has become increasingly important. We believe Credo benefits from this growing connectivity challenge, with an expanding product portfolio that gives the company multiple opportunities to support next-generation data center architectures. During the quarter, shares contributed positively to performance as investors responded favorably to the company's rapid revenue growth and rising demand from hyperscale customers. Investor sentiment was further supported by the view that Credo's expanding product portfolio and recent silicon photonics capabilities could help the company remain well aligned with the evolving connectivity needs of AI da

Deep Sail Capital Partners, an investment management company, released its first-quarter 2026 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund significantly outperformed both of its benchmarks, the Russell 2000 Mid Cap Growth Index and the Russell 2000 Index, returning 41.6% net of fees while averaging 88% net long exposure. YTD, the fund returned 16.5% net of fees. long portfolio significantly outperformed both benchmarks, while the short portfolio was mixed in the quarter. The letter states that there was a notable performance push in Q1, which was reflected in Q2, driven by both the Iran War and idiosyncratic impacts on positions in the fund. In addition, please check the Fund's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, Deep Sail Capital Partners highlighted Credo Technology Group Holding Ltd (NASDAQ:CRDO) as a notable performance contributor. Credo Technology Group Holding Ltd (NASDAQ:CRDO) is a semiconductor company that provides high-speed connectivity solutions for optical and electrical Ethernet and PCIe applications. On July 21, 2026, Credo Technology Group Holding Ltd (NASDAQ:CRDO) closed at $223.87 per share. One-month return of Credo Technology Group Holding Ltd (NASDAQ:CRDO) was -16.77%, and its shares gained 127.49% over the past 52 weeks. Credo Technology Group Holding Ltd (NASDAQ:CRDO) has a market capitalization of $41.75 billion.
Deep Sail Capital Partners stated the following regarding Credo Technology Group Holding Ltd (NASDAQ:CRDO) in its Q2 2026 investor update:
"There were a few large detractors at the end of the Q1 that have reversed in Q2 including our two biggest contributors in Q2 Credo Technology Group Holding Ltd (NASDAQ:CRDO) and Amplitech. Credo Technologies was down over 50% from its ATH by the end of March on the narrative that "Copper is dead" in data centers. That narrative has since changed in Q2 with the market beginning to realize that Credo's ZeroFlap optics platform is a real second leg for the company and the acquisition of Dust Photonics, an integrated circuit optics company, makes Credo a viable optics player. The company returned 191% in Q2. I continue to view the company favorably on a growth and valuation basis and it is one of the fund's largest holdings."
Credo Technology Group Holding Ltd (NASDAQ:CRDO) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 59 hedge fund portfolios held Credo Technology Group Holding Ltd (NASDAQ:CRDO) at the end of the first quarter, compared to 69 in the previous quarter. While we acknowledge the potential of Credo Technology Group Holding Ltd (NASDAQ:CRDO) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free repor

LightPath Technologies (NASDAQ:LPTH) shares gained 9% after the company announced it had secured an 11 million dollar follow-on order for infrared camera systems from a major global technology customer supporting counter-unmanned aircraft system (counter-UAS) applications.
The latest contract represents another order from one of LightPath's key customers and reinforces ongoing demand for the company's infrared imaging technology across defence and public safety markets.
According to the company, the programme will also include a planned transition from traditional Germanium optics to its proprietary BlackDiamond optical materials.
Chief Executive Officer Sam Rubin said the agreement demonstrates the company's growing partnership with an important customer.
"This order reflects the deepening relationship with one of our most significant customers and the expanding role of our infrared camera systems in public safety applications, where reliability and performance are mission-critical."

Nokia (NYSE: NOK) used to make smartphones, but the stock's 130% rally over the past year has nothing to do with those consumer products. The company has become a major part of the AI build-out thanks to a new technology that most people don't know about: artificial intelligence radio access networks (AI-RAN).
AI-RAN helps tech giants break through the latency limitations of AI data centers and enables the creation of micro-data centers that scale real-time AI inference. This technology may soon become a hot topic with investors, just as memory chips have recently.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Nokia isn't posting impressive overall growth rates right now. It delivered only 4% year-over-year revenue growth in Q1, but its small AI and cloud segment grew by 49%. Demand for optical networking hardware to go into AI data centers has contributed to the stock's rally, but AI-RAN may be the golden opportunity moving forward.
In its most recent report, management highlighted that AI inference demand is growing faster than AI model training demand, and those workloads will require AI-RAN to operate more effectively in real-time scenarios.

Our ***** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Successfully transitioned from 95% electric vehicle silicon carbide revenue to 95% non-EV revenue, primarily driven by AI processors and data center infrastructure.
AI processor wafer-level burn-in emerged as the fastest-growing segment, representing approximately 71% of total annual revenue due to increased capacity needs from lead customers.
Achieved a critical technical milestone by completing benchmark testing for a top-tier AI processor supplier, demonstrating results superior to traditional package-level testing.
Silicon photonics demand is accelerating as AI data center architectures shift toward optical I/O and high-speed interconnects, shortening the sales cycle for new networking customers.

Credo Technology Group Holding Ltd (NASDAQ:CRDO) is one of the best performing AI stocks over the last 3 years, with a 3Y CAGR of 153%. On July 6, William Blair **** yst Sebastien Naji named Credo his top semiconductor pick for the next six months. That followed several constructive June calls. Evercore ISI **** yst Mark Lipacis initiated coverage on June 22 with an Outperform rating and a $325 target, describing Credo as an AI-connectivity leader moving from a mainly copper portfolio toward a combined copper-and-optical offering.
The same day, Stifel **** yst Tore Svanberg maintained a Buy rating and raised his target to $350 from $250 after management meetings, citing the company's vertically integrated, system-level approach across both technologies. Bank of America kept Buy on June 26. The common thread is that larger AI clusters require more high-speed, energy-efficient connections. Credo's active electrical cables, digital signal processors and optical products address that need. Risks include customer concentration, rapid interface transitions, and expectations that already **** ume substantial growth.
Credo Technology Group Holding Ltd (NASDAQ:CRDO) provides high-speed connectivity solutions, including active electrical cables, digital signal processors, retimers, SerDes chiplets, and optical components for hyperscale, cloud, and AI networks.
While we acknowledge the potential of CRDO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.

ClearBridge Investments, a global equity manager, recently published second-quarter 2026 commentary for its "SMID Cap Growth Strategy". A copy can be downloaded here. Small and mid-cap (SMID) growth equities experienced the strongest quarter in recent memory, with the Russell 2500 Growth Index rising 24.0%, driven by enthusiasm for AI infrastructure and higher-beta momentum stocks. The Strategy delivered double-digit returns in the quarter but trailed the soaring benchmark. Underperformance was driven by underexposure to top AI infrastructure stocks as well as weaknesses in healthcare and consumer discretionary sectors. The market leadership expanded beyond mega-cap technology, indicating potential opportunities from a broader cyclical recovery and AI adoption. In addition, you can check the Fund's top five holdings to determine its best picks for 2026.
In its Q2 2026 investor letter, ClearBridge SMID Cap Growth Strategy highlighted Fabrinet (NYSE:FN). Fabrinet (NYSE:FN) is an optical packaging and precision optical, electro-mechanical, and electronic manufacturing services provider. On July 10, 2026, Fabrinet (NYSE:FN) closed at $471.13 per share, reflecting a market capitalization of $16.88 billion. Fabrinet (NYSE:FN) posted a one-month return of -25.87%, while its shares gained 58.92% over the past 52 weeks.
ClearBridge SMID Cap Growth Strategy the following regarding Fabrinet (NYSE:FN) in its Q2 2026 investor update:
"In IT, we added Fabrinet (NYSE:FN) to increase exposure to AI networking and data connectivity growth. Fabrinet is a leading contract manufacturer for optical communications components used in data center and telecom networks, where AI compute demand is driving a generational upcycle."
Fabrinet (NYSE:FN) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 56 hedge fund portfolios held Fabrinet (NYSE:FN) at the end of the fourth quarter, compared to 42 in the previous quarter. In third quarter of 2026, Fabrinet (NYSE:FN) reported revenue of $1.214 billion, an increase of 39% year-over-year. While we acknowledge the potential of Fabrinet (NYSE:FN) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

Applied Optoelectronics, Inc. (NASDAQ:AAOI) is one of the best performing AI stocks over the last 3 years, with a 3Y CAGR of 144.7%.
On June 21, Rosenblatt Securities ****** yst Michael Genovese reiterated a Buy rating and maintained a $220 price target. The firm's documented thesis has centered on Amazon-related 800G revenue, potential Oracle qualifications and a product mix spanning 100G, 400G, 800G and 1.6T connectivity. That view is supported by more than $324 million of reported orders for 800G and 1.6T products tied to hyperscale demand. That backlog makes execution the focus. Orders and customer qualifications must convert into shipments, while higher volumes need to improve profitability and cash flow. AAOI's vertically integrated manufacturing model can help with cost and supply control, yet rapid capacity expansion creates its own operational burden.
Customer concentration is another important consideration, as a delayed qualification or a changed deployment schedule can materially affect results. Rosenblatt's reiteration indicates confidence in the optical ramp, while the order base provides a measurable benchmark for subsequent delivery.
Applied Optoelectronics, Inc. (NASDAQ:AAOI) designs and manufactures optical networking products, including lasers, transceivers and related equipment for internet data centers, cable television networks, telecommunications and fiber-access markets.
While we acknowledge the risk and potential of AAOI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AAOI and that has 10,000% upside potential, check out our report about the cheapest AI stock.

Lumentum Holdings Inc. (NASDAQ:LITE) is one of the best performing AI stocks over the last 3 years, with a 3Y CAGR of 143.31%. On June 11, JPMorgan **** yst Samik Chatterjee reiterated an Overweight rating and maintained a $1,130 price target, arguing that the recent pullback in optical-networking stocks had created a buying opportunity.
Chatterjee said Lumentum shares had fallen about 15% from their early-June high as investors worried about limited summer catalysts and possible delays in co-packaged optics adoption. He pushed back on those concerns, citing supply-chain checks indicating that Nvidia's large-scale CPO rollout remained on track and may be ahead of schedule. JPMorgan also pointed to growing interest from cloud-service providers and other customers, which could broaden demand beyond Nvidia.
Co-packaged optics places optical engines close to switch chips to increase bandwidth while reducing power consumption in large AI systems. JPMorgan viewed Lumentum's valuation of roughly 25 times estimated 2028 earnings as reasonable, given projected annual earnings growth above 40%. The thesis still depends on deployment schedules, customer concentration and Lumentum's ability to convert product demand into sustained shipments and earnings growth.
Lumentum Holdings Inc. (NASDAQ:LITE) develops optical and photonic technologies for AI and cloud networking, telecommunications, industrial manufacturing and sensing, including lasers, components, modules and optical subsystems.
While we acknowledge the risk and potential of LITE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LITE and that has 10,000% upside potential, check out our report about the cheapest AI stock.

Ciena Corporation (NYSE:CIEN) is one of the best performing AI stocks over the last 3 years, with a 3Y CAGR of 120.4%. On June 8, UBS reiterated its Hold rating on the stock and raised its price target to $508 from $285. The action followed Ciena's fiscal second-quarter report, where revenue rose 40% year over year to $1.57 billion, and adjusted earnings came in ahead of FactSet estimates, MarketWatch reported. UBS ******* yst David Vogt's caution centered on expectations rather than the headline numbers.
Carol Gauthier/Shutterstock.com
He wrote that the market had been pricing in a "more material beat and raise" than Ciena delivered. Ciena still raised its fiscal 2026 revenue outlook to $6.2 billion to $6.4 billion and guided fiscal third-quarter revenue above Wall Street estimates. The gap between strong results and an even stronger setup explains the neutral stance: Ciena remained tied to AI-driven optical networking demand, but the stock had already climbed sharply into the report. Ciena also said its high-speed connectivity strategy across wide-area networks and data centers was aligned with multi-year AI demand.
Ciena Corporation (NYSE:CIEN) provides networking systems, services, and software used by communications service providers, cloud operators, governments, and enterprises to move, manage, and optimize high-bandwidth network traffic.
While we acknowledge the risk and potential of CIEN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CIEN and that has 10,000% upside potential, check out our report about the cheapest AI stock.

Viavi Solutions Inc. (NASDAQ:VIAV) is one of the top stocks to buy according to Whale Rock Capital Management. On July 1, Susquehanna ***** yst Mehdi Hosseini raised his price target on Viavi Solutions Inc. (NASDAQ:VIAV) to $66 from $60, while maintaining his Positive rating on the stock.
The reason for the call, according to Hosseini, was that Susquehanna was updating its estimates to reflect a higher Field Instrument revenue contribution. Viavi's Field Instrument business is a product line within its Network and Service Enablement segment that supplies handheld and portable testing tools used by technicians to install, troubleshoot, and maintain fiber and network equipment in the field. Hosseini's team lifted its revenue estimates for this business because they now expect a stronger ramp in data center interconnect, or DCI, deployments at two of Viavi's major optical networking customers; that is Nokia and Ciena.
DCI refers to the high-capacity optical links that connect data centers to each other. The ***** ysts noted that demand for this technology has been surging as hyperscale cloud providers race to expand AI computing capacity. They added that Nokia and Ciena are both racing to supply next-generation coherent optical equipment for these DCI links, and that Nokia recently unveiled a new suite of pluggable optical transceivers specifically built for DCI.
As these vendors ramp production and deployment of their new DCI and scale-across optical gear, they generate more business for Viavi, the ***** ysts noted.
Viavi Solutions Inc. (NASDAQ:VIAV) is a network test, monitoring, and ***** urance company. It provides testing, monitoring, ***** urance, and security solutions for telecommunications, cloud, enterprise, military, aerospace, and critical infrastructure networks across the Americas, Asia-Pacific, Europe, the Middle East, and Africa.

As of roughly noon E.T., the S&P 500 (SNPINDEX:^GSPC) rose 0.56% to 7,524.39, the Nasdaq Composite (NASDAQINDEX:^IXIC) climbed 0.78% to 26,073.17, and the Dow Jones Industrial Average (DJINDICES:^DJI) added 0.24% to 52,473.28 as AI chip strength helped markets stabilize after war‑driven volatility.
Chip and optical‑communication names, including Marvell Technology (NASDAQ:MRVL), Corning (NYSE:GLW), Coherent (NYSE:COHR), and Lumentum (NASDAQ:LITE), were among the day's notable gainers amid sector‑wide demand for communications chips. However, high-valuation AI behemoth Palantir (NASDAQ:PLTR) extended its 29% decline year-to-date, dropping about 4% so far today.
Despite the U.S.-Iran ceasefire being paused for now, and the market facing a growing drumbeat of **** ysts saying we might be in "bubbly" territory, stocks surged higher today, buoyed by the strength of AI and semiconductor stocks. In addition to a handful of **** yst upgrades of semiconductor stocks, SK Hynix's upcoming U.S. ADR offering is estimated to be more than seven times oversubscribed, indicating that immense investor appetite remains in the **** e.
Elsewhere, PepsiCo (NASDAQ:PEP) unofficially kicked off earnings season this morning, delivering mixed earnings that prompted shares to dip roughly 3%. The beverages and snacks giant grew sales by 6% in the second quarter, but said it saw weaker consumer spending in the U.S. due to higher gas prices and broader macroeconomic volatility.
Whether or not the AI and technology industries are indeed in "bubbly territory" as many **** ysts suggest, there are a surprising number of S&P 500 stocks near their 52-week lows, so plenty of opportunities remain despite the indexes trading at or near all-time highs.

Tower Semiconductor Ltd. (NASDAQ:TSEM) is one of the top stocks to buy according to Whale Rock Capital Management. On June 18, Tower Semiconductor Ltd. (NASDAQ:TSEM) announced that it has shipped more than five million coherent photonic integrated circuits (PICs) to global customers of its partner Marvell Technology.
These chips are used in coherent optical transceivers, which are specialized components that transmit data over fiber optic cables. According to Tower, these components are increasingly needed to link data centers as AI computing drives up demand for network bandwidth and speed. It added that coherent PICs are harder to build than simpler chip types because they must precisely control both the phase and polarization of light. Tower has been working with Marvell to push this technology forward, including combining silicon with other specialized materials, stacking electronic components in three dimensions, and using an advanced packaging method known as V-Grooves to improve how light is guided through the chip.
Dr. Ed Preisler, who leads Tower's RF Business Unit, said the company's photonics manufacturing platforms need to keep evolving alongside the requirements of coherent optical transceivers, and that Tower is proud of its partnership with Marvell in this area.
For Dr. Radha Nagarajan, Marvell's chief technology officer for optical engineering, the shipment is a milestone that proves the strength of the two companies' collaboration. Nagarajan added that Marvell intends to keep working with Tower to develop next-generation coherent technology suited to large-scale data center networks.
Tower Semiconductor Ltd. (NASDAQ:TSEM) is a specialized semiconductor foundry. It provides technology, development, and process platforms for integrated circuits, including SiPho, SiGe, CMOS image sensor, RF CMOS, mixed signal CMOS, non-imaging sensors, and integrated power management technologies.

Bell Global Equities Fund, managed by Bell **** et Management, released its May investor update. A copy of the letter can be downloaded here. The global equity market continued its rally in May, driven by accelerating AI infrastructure spending and a stronger-than-expected earnings season. The Fund (Platform Class) returned 2.1%, underperforming the MSCI World ex-Australia Index's 4.5% return in May 2026. Information Technology holdings drove the positive return in the month, along with modest contributions from Health Care and Consumer Discretionary exposures. However, the portfolio underperformed compared to the benchmark, primarily due to the high returns from the benchmark's mega-cap technology and semiconductor stocks. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its May 2026 investor letter, Bell Global Equities Fund highlighted Amphenol Corporation (NYSE:APH). Amphenol Corporation (NYSE:APH) is a leading manufacturer of electrical, electronic, and fiber optic connectors serving a broad range of end markets. On July 8, 2026, Amphenol Corporation (NYSE:APH) closed at $158.22 per share. One-month return of Amphenol Corporation (NYSE:APH) was 7.16%, and its shares gained 66.19% over the past 52 weeks. Amphenol Corporation (NYSE:APH) has a market capitalization of $201.16 billion.
Bell Global Equities Fund stated the following regarding Amphenol Corporation (NYSE:APH) in its May 2026 investor update:
"The ongoing dispersion in performance across the market continued to create attractive opportunities for long-term quality-focused investors during May. Among the portfolio additions, we established a position in Amphenol Corporation (NYSE:APH), one of the world's largest designers and manufacturers of electrical, electronic and fibre optic connectors and interconnect systems. The industry structure is a particularly compelling aspect of the long term story: the connector market is highly fragmented, and once a connector or cable **** embly is designed into a platform – such as a vehicle model or server architecture it typically remains in place for years, creating multi-year recurring revenue streams. Amphenol's well-established bolt on acquisition strategy provides a consistent additional growth lever. The shares came under meaningful pressure in May amid a market debate around whether Amphenol's content in future AI racks would diminish as architectures transition from copper toward optical networking, an area where the company has historically been perceived as less established. We believe this concern is overdone, and Amphenol has moved decisively to address it, joining a multi source agreement alongside 3M and a group of technology leaders to develop open, interoperable optical connector specifications for AI data centres. Meanwhile, the fundamentals remain firmly intact. First-quarter sales rose nearly 60% year-over-year to a record level of over US$7.5 billion, while earnings growth of cl

It is pretty much a certainty and written in the stars at this point that Jürgen Klopp is going to become the next manager of the German national team after Julian Nagelsmann resigned, but it's not a done deal just quite yet. The bitterness of Die Mannschaft underperforming and not meeting expectations at a third consecutive World Cup has been slightly alleviated with the news that Klopp is set to be given the job by the DFB with pretty much all the power he wants as a new era comes about for Germany. His release clause in his Red Bull contract as head of global football is specifically designed around leaving for the national team job, but there's still details that need to be worked out and fine-tuned.
Borussia Dortmund CEO Hans-Joachim Watzke recently stressed the fact that the deal is not yet fully done for Klopp to put pen to paper to replace Nagelsmann. "This is not a done deal yet. There are still hurdles to overcome. Especially considering that he has a contract at RB. I'm a bit more skeptical than others. I'm convinced the chances are higher than 50%, but that doesn't mean it's 100%. Jürgen is our plan A and we want to implement our plan A. There are problems to be solved," Watzke told ZDF (transcribed via iMiaSanMia)
Optically, from the outside looking in, the writing is on the wall. Klopp has maintained that there were really only two jobs that would interest him enough to step away from his roll at Red Bull to step back into management — Germany or Real Madrid. In the same vein, he's said that he would not want to go back to England to manage any other team besides Liverpool and he's routinely thrown cold water on rumors linking him with the Bayern Munich job due to his Dortmund legacy, though that same sort of sentiment didn't exactly apply when he took a role that has indirect oversight on RB Leipzig, one of Germany's most disliked clubs.
"Jürgen's willingness to solve these problems is a significant help. Of course, we have our [financial] limits. We expect, or rather I expect, a slight 'patriotism discount' from Jürgen in particular. I know that he loves Germany," Watzke continued. Not everything is black and white to the point were everyone in Germany loves Klopp, has faith in him and the job is open with his willingness to take over — it's not exactly as simple as that. The former Liverpool, Dortmund and Mainz manager has also maintained that he plans on bringing both Peter Krawietz and Zsolt Löw with him to be a part of his coaching staff at Germany — that's a lot of contractual and financial work involved to get done.
Nonetheless, Germany is waiting for the moment, the moment the "heavy metal" brand of football man makes it official and takes the hot seat to try to get Germany back where it belongs, perched on top of the footballing pedestal it sat upon in Brazil some eight years ago.

Corning (GLW) demonstrates strong technical momentum with a 72% "Buy" technical opinion from Barchart.
GLW has gained more than 250% over the past year.
Analyst sentiment is broadly positive despite some concerns that shares may be overvalued.
I view the recent dip as a potential buying opportunity given GLW's solid fundamentals and robust growth projections.
Valued at $167.7 billion, Corning (GLW) produces advanced glass substrates that are used in many applications. Its markets include optical communications, mobile consumer electronics, display, automotive, and life sciences.

Marvell Technology, Inc. (NASDAQ:MRVL) is one of the Best AI and Technology Stocks to Buy Now. On June 29, Cantor Fitzgerald ****** yst C.J. Muse lifted its price objective on the company's stock to $300 from $220 and maintained a "Neutral" rating on the shares. Notably, the AI infrastructure buildout is being regarded as the generational semiconductor cycle, which remains durable and extended by the supply chain constraints. Furthermore, there are expectations for faster-than-earlier-expected industry revenue expansion touching ~$3 trillion by CY 2029 and potentially surpassing $3.5 trillion by CY 2030, added Muse.
In a different update, Stifel lifted its price objective on Marvell Technology, Inc. (NASDAQ:MRVL)'s stock to $350 from $321 and maintained a "Buy" rating on the shares. As per the ****** yst, in the last quarter, the firm noted that ****** og players are well-placed for a breakout in CY 2026. This thesis has been proved true, with Astera Labs, Credo Technology, and Marvell Technology, Inc. (NASDAQ:MRVL) reporting beat-and-raise quarters in calendar Q1.
Marvell Technology, Inc. (NASDAQ:MRVL) develops semiconductor solutions for data infrastructure, including custom silicon, optical connectivity, data center switching, storage, security, Ethernet, and cloud networking products.
While we acknowledge the potential of MRVL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Credo Technology Group Holding Ltd (NASDAQ:CRDO) is one of the stocks with rising earnings estimates and fresh catalysts.
The stock has 15 upward EPS revisions and no downward revisions for the upcoming fiscal year over the last three months, while revenue estimates show 14 upward revisions and no downward revisions. That gives Credo one of the cleaner revision profiles in the group, even if its raw revision count is smaller than the larger AI infrastructure names.
On June 1, Credo reported fiscal fourth-quarter revenue of $437 million, up 157% year over year, and guided current-quarter revenue above ******* yst expectations. The catalyst is the company's deeper role in AI data-center connectivity, where active electrical cables, optical transceivers, DSPs, and retimers help improve cluster reliability and GPU utilization. Credo also completed its DustPhotonics acquisition on May 28, bringing silicon photonics technology in-house and expanding its optical interconnect roadmap across 800G, 1.6T, and future platforms. That gives the estimate story a product and integration angle, not just a hot-sector halo.
Credo Technology Group Holding Ltd (NASDAQ:CRDO) develops high-speed connectivity products used in data centers, including active electrical cables, optical transceivers, retimers, and signal-processing chips.
While we acknowledge the risk and potential of CRDO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CRDO and that has 10,000% upside potential, check out our report about this cheapest AI stock.

Is DRI a good stock to buy? We came across a bullish thesis on Darden Restaurants, Inc. on Elliot's Musings's Substack by Elliot. In this article, we will summarize the bulls' thesis on DRI. Darden Restaurants, Inc.'s share was trading at $204.32 as of July 2nd. DRI's trailing and forward P/E were 19.34 and 17.92 respectively according to Yahoo Finance.
LeStudio/Shutterstock.com
Darden Restaurants, Inc., together with its subsidiaries, owns and operates full-service restaurants in the United States and Canada. DRI delivered a fundamentally strong Q4 FY2026 despite two temporary distortions that masked the underlying performance: a 53rd fiscal week that inflated reported results while creating an optical headwind for FY2027 comparisons, and Olive Garden's lighter-portions menu initiative, which reduced reported same-store sales by roughly 80 basis points despite underlying demand meeting expectations.
Read More: 15 AI Stocks That Are Quietly Making Investors Rich
Read More: Undervalued AI Stock Poised For Massive Gains: 10000% Upside Potential

We just covered Avoid ******* eX and Buy These 11 Stocks Instead. Nokia (NYSE:NOK) ranks #5 (see Avoid ******* eX and Buy These 5 Stocks Instead).
Number of Hedge Fund Investors: 66
Redditors are saying Nokia (NYSE:NOK) should not be seen as an old-school telecom equipment company hanging on for dear life. It has transformed. Nokia is emerging as a serious player in AI infrastructure. That's the real story that Wall Street is still catching up on.
In Q1 2026, Nokia's AI and cloud sales jumped 49% year over year. This segment now accounts for about 8% of Nokia's (NYSE:NOK) total revenue. In just the first quarter, Nokia pulled in €1 billion in AI and cloud orders. Those are firm purchase orders with real delivery dates from real customers. The order backlog is so big that lead times are running 12 to 18 months. Demand is crushing what the company can supply right now.
But what exactly is Nokia (NYSE:NOK) making for AI? Here's what matters. Nokia makes optical networking equipment. When hyperscalers build massive data centers, they need to connect all those servers together with super-fast fiber optic cables. Nokia makes the equipment that puts data onto those cables and pulls it off. It's called coherent optical technology. This equipment lets data move really fast and really efficiently between data centers and inside data centers.

When I hear Nokia (NYSE: NOK), I think of the indestructible brick phone my parents owned. And I think about the 2021 meme-stock craze.
But over the past several years, Nokia has been rebuilding itself around three businesses: network infrastructure, optical networking, and enterprise technology. None of that is flashy. But something shifted this year that deserves more attention than it's getting.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
In May 2026, Nokia and Nvidia (NASDAQ: NVDA) announced a landmark strategic partnership in which Nvidia will invest $1 billion in Nokia -- at $6.01 per share -- to accelerate what the two companies are calling AI-RAN, a new category of radio access networks built natively for artificial intelligence (AI) workloads. Nvidia becomes a 2.9% shareholder in Nokia as part of the deal. T-Mobile (NASDAQ: TMUS) also signed on to run field trials of AI-RAN this year.
Think about what that structure implies. Nvidia doesn't write $1 billion checks to legacy companies. It bets on picks-and-shovels plays in markets it believes are about to explode. Nokia is now one of those picks.

Marvell Technology, Inc. (NASDAQ:MRVL) was among the stocks on Jim Cramer's Mad Money radar as he taught investors how to profit from the upcoming wave of takeovers. Cramer highlighted NVIDIA CEO's endorsement of the company, as he remarked:
Marvell Tech's next. It got optical networking, and most important is the endorsement of NVIDIA CEO Jensen Huang, who predicted it'll be the next trillion-dollar company. If he's right, there's a lot more upside. Marvell's just a $260 billion company.
Photo by Yiorgos Ntrahas on Unsplash
Marvell Technology, Inc. (NASDAQ:MRVL) develops semiconductor solutions for data infrastructure, including system-on-a-chip designs, processors, and networking and storage products. Cramer discussed the company during the May 27 episode and said:
Oh, then there's Marvell Technology. Lots of people think that this one was totally uncatchable, but that's untrue. Late last year, okay, get this, late last year, there had been this kind of noise about maybe Marvell had lost a huge chunk of business, okay? Last time CEO Matt Murphy had come on in December, when the stock was at $88, he told us that he just reported and there was no loss of business. People were lying about what he was saying.

POET Technologies Inc. (NASDAQ:POET) is one of the Best Small-Cap Semiconductor Stocks to Buy Right Now. POET Technologies Inc. (NASDAQ:POET) has declined roughly 29% over the past month. The major reason behind the significant price drop has been multiple lawsuits regarding the company's tax status as well as the cancellation of purchase orders by Marvell ****** ociated with Celestial AI.
Earlier in May, the stock was trading close to an all-time high of around $20. The Street expects more than 100% upside for the stock over the next 12-months. In the same month, the company reported a significant advancement by signing a supply agreement with Lumilens to jointly develop a new type of optical interconnect technology called the Electrical-Optical Interposer.
Management noted that the aim of this partnership is to solve a growing bottleneck in AI infrastructure, which is the optical layer that connects GPUs at scale. POET highlighted that the current optical components are expensive and slow to manufacture because they rely on manual, precision ****** embly. The EOI platform eliminates this by using wafer-level processing, bringing semiconductor-style efficiency to photonics.
Notably, as part of the deal, Lumilens has placed an initial $50 million purchase order with POET, with the potential to grow to over $500 million over five years. POET has also granted Lumilens warrants to purchase shares.
POET Technologies Inc. (NASDAQ:POET) develops high-speed optical engines, light sources, and photonic integrated circuits designed for artificial intelligence, hyperscale data center, and telecommunications applications. Founded in 1985 and headquartered in Toronto, Ontario, Canada, the company focuses on enabling faster and more energy-efficient optical connectivity solutions for the rapidly expanding AI infrastructure market.

Applied Materials, Inc. (NASDAQ:AMAT) is one of the 10 Best Semiconductor Stocks to Buy According to Billionaires.
On June 23, BofA ****** ped up its price objective on Applied Materials, Inc. (NASDAQ:AMAT) to $720 from $540. The firm maintained a "Buy" rating on the stock.
The firm updated its semiconductor industry models and price objectives to show revised industry estimates. BofA raised its 2030 total semiconductor market forecast to $2.7 trillion from $2.3 trillion. BofA stated that the higher forecast is mainly because of growth in memory and data center markets, with extra support from reviving automotive and industrial demand.
On June 16, Reuters reported that EssilorLuxottica and Applied Materials, Inc. (NASDAQ:AMAT) signed a long-term contract to make augmented reality display technology and artificial intelligence glasses. The companies said they will scale marketing of artificial intelligence glasses and focus research and development on advanced optical technologies.
Reuters reported that EssilorLuxottica already sells Ray-Ban and Oakley smart glasses through its partnership with Meta, while Applied Materials supplies special tools used to produce the ultra-thin semiconductor layers required for AR displays.

Firefly Aerospace Inc. (NASDAQ:FLY) is one of the 10 Best New Stocks to Buy Other Than **** eX.
On June 26, 2026, Jefferies **** yst Sheila Kahyaoglu said Firefly Aerospace Inc. (NASDAQ:FLY) will acquire **** e-ng to integrate its AI vision-based autonomous navigation and optical guidance systems across the Blue Ghost lander and Elytra orbital vehicle programs. Kahyaoglu said the acquisition will strengthen GPS-independent navigation and in-house mission software capabilities. Jefferies has a Buy rating and $52 price target on Firefly Aerospace shares.
On June 15, KeyBanc upgraded Firefly Aerospace to Overweight from Sector Weight with a $50 price target. Following the **** eX initial public offering-related selloff, KeyBanc said it sees "compelling opportunities" across the rapidly growing **** e sector. The firm said NASA activity is accelerating at a pace not seen since the Apollo era, and launch supply remains "structurally constrained amid exponential growth" in satellites and **** e-based applications. KeyBanc said it favors "well-capitalized" commercial **** e companies with exposure to national security and NASA priorities, and upgraded both Rocket Lab and Firefly Aerospace to Overweight.
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Firefly Aerospace Inc. (NASDAQ:FLY) operates as a **** e and defense technology company and provides mission solutions for national security, government, and commercial customers in the United States.

Credo Technology Group Holding Ltd (NASDAQ:CRDO) is one of the top trending US stocks to buy now. Stifel lifted the price target on Credo Technology Group Holding Ltd (NASDAQ:CRDO) to $350 from $250 on June 22 and maintained a Buy rating on the shares. The firm reported that, after hosting CEO Bill Brennan and CFO Dan Fleming for two days of meetings, it concluded that management's message centered on a vertically integrated, system-level approach across both copper and optical connectivity.
Credo Technology Group Holding Ltd (NASDAQ:CRDO) also received a rating update from Evercore ISI the same day. The firm initiated coverage of the stock with an Outperform rating and set a price target of $325. It told investors that it senses that while the company is viewed as a copper-based AI-connectivity play, the firm believes that the company will be increasingly viewed as a broad copper plus optical AI-connectivity play as it executes its optical roadmap. Evercore further stated that near term, it models 100% and 60% growth for its AEC solutions in calendar year 2026 and 2027, respectively, and longer term, it models $13-plus in 2028 EPS, 40% higher than Street estimates.
Credo Technology Group Holding Ltd (NASDAQ:CRDO) develops connectivity solutions and products for the data infrastructure market, with its products including integrated circuits, active electrical cables, and SerDes chiplets.
While we acknowledge the potential of CRDO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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