Trading around $700, the stock now has a $1,040 price target from BNP Paribas analyst Karl Ackerman, implying roughly 47% upside. And the call isn't based on hype—it's based on where AI infrastructure demand is actually going.The AI Trade Is Moving Beyond GPUsLumentum sits in a less crowded—but increasingly critical—part of the stack: optical components.As AI models scale, data centers aren't just adding more GPUs—they're upgrading how those GPUs communicate. Ackerman sees that driving demand for:800G and 1 ...

19 March 2026 | 2:14PM EDT Equity Research AMERICAS TECHNOLOGY: HARDWARE Networking and Optical market update with 650 Group We hosted a meeting in Los Angeles with Alan Weckel and Chris Depuy of 650 Group on March 19th, 2026 to discuss key industry takeaways from the Optical Fiber Communications conference. +1(212)357-6403 | zorayda.montemayor@gs.com Goldman Sachs & Co. LLC Key takeaways Goldman Sachs does and seeks to do business with companies covered in its research reports. As a result, investors shoul ...