Why Is Lumentum (LITE) Stock Price Down 6.39% Today, Aug 28? AI Optics Selloff Pressures Shares

Lumentum sold off 6.39% amid broad de-risking across AI-optics and optical-communications peers, with no clear company-specific catalyst cited. The move appears driven by sentiment and valuation compression in AI-adjacent infrastructure rather than a confirmed change in fundamentals. Technically, the close below a nearby resistance cluster keeps near-term positioning cautious, with attention on whether selling pressure stabilizes after the sector-wide retreat.