On September 29, Coherent rose 3.24% in regular trading, trading at approximately $290.84/share, with turnover of $148 million. The stock recovered from a prior session decline of over 4% triggered by supply-chain expansion concerns.

On the news front, Morgan Stanley issued a research note following the European Conference on Optical Communication (ECOC), stating that multiple optical communications suppliers have capacity nearly sold out for the next 12 to 18 months, with AI-driven optical demand remaining robust. The report highlighted that the industry's core dynamic is shifting from demand growth toward margin improvement driven by capacity ramp-up and yield enhancement. Peers including Corning rose 3.72%, Lumentum gained over 4%, and POET Technologies climbed over 4%, reflecting broad sector strength.

The rebound followed a sell-off earlier in the week amid concerns over volume-driven price erosion as industry players announced capacity expansions. Analysts had projected 800G module average selling prices declining from approximately $440 to $314 by 2028, with industry pricing uplift dependent on product mix shift toward higher-speed modules rather than per-unit increases.

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