Nvidia, Micron, 8 Other AI Stocks Just Broke Below a Key Technical Support
Nvidia, Micron and eight other AI stocks fell below their 200-day moving average this week as the midterm vote hit AI spending bets.
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Raymond James analyst Simon Leopold upgraded Lumentum to Strong Buy, citing the company's acquisition by Marvell and strong operating momentum.
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Nvidia, Micron and eight other AI stocks fell below their 200-day moving average this week as the midterm vote hit AI spending bets.
Needham has revised its price target for Lumentum Holdings Inc. while maintaining a 'Buy' rating.
Marvell agreed to acquire Lumentum in a $115 billion all-stock deal, combining chip design with laser manufacturing for AI data centers. Nvidia likely facilitated the merger by investing in both companies and securing special shareholder terms, strengthening Marvell as a competitor to Broadcom. Meanwhile, AI stocks faced headwinds from regulatory pressure (Oracle-Tencent deal scrapped), security concerns (CrowdStrike's AI Kill Switch), and political risks from midterm election results favoring data center restrictions.
Class action law firm Monteverde & Associates PC has launched an investigation into the proposed acquisition of Lumentum Holdings Inc. by Marvell Technology.
Marvell Technology shares recovered on Nov. 3, 2026, closing up 0.33% after an initial premarket sell-off following the announcement of its $115 billion all-stock acquisition of Lumentum. Despite analyst downgrades and share dilution concerns, Wall Street reassessed the deal positively, recognizing Lumentum's strong growth potential (137% YoY sales increase) and its strategic value in expanding Marvell's data infrastructure offerings.
Coherent Corp. (COHR) is expected to report Q1 fiscal 2027 earnings on Nov. 4 with projected 70.7% earnings growth and 45.8% revenue growth year-over-year, driven primarily by a 70.5% surge in Datacenter & Communications revenues. However, the stock has declined 39% over the past six months, and Industrial segment revenues are expected to decline 9%. Despite premium valuation and industrial market weakness, analysts recommend buying COHR shares based on strong AI-driven optical networking demand and datacenter infrastructure expansion.