On August 26, Lumentum rose 3.18% in regular trading, trading at $911.975/share, with turnover of $1.395 billion. The stock rallied as easing geopolitical tensions and anticipation of NVIDIA's quarterly earnings report drove a broad rebound across optical communications and semiconductor names.

On the news front, Iran and Oman issued a joint statement to establish a secure maritime corridor in the Strait of Hormuz, reducing geopolitical risk premiums and pushing U.S. Treasury yields lower. The retreat in long-term rates relieved discount-rate pressure that had weighed heavily on capital-intensive AI hardware and optical networking stocks in recent sessions. Simultaneously, NVIDIA's after-hours earnings release fueled optimism around AI chip demand and data center capital expenditure, catalyzing sector-wide buying. The Philadelphia Semiconductor Index gained 1.44%, while peers Arista Networks rose 3.6% and Ciena advanced 2.16%.

Lumentum had previously declined over 8% on August 24 amid a sector-wide selloff triggered by 30-year Treasury yields reaching near two-decade highs and AI infrastructure bubble concerns, before partially recovering on August 25 with a 3% bounce.

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