Optical Communication Stocks Drop, Marvell Down 10%, AXTI Down 9%

Optical communication stocks declined during regular trading on Friday (August 28). Marvell (MRVL.US) fell 10.07% to $217.13, leading the sector lower, with an intraday low of 5.21% below the previous close. AXTI (AXTI.US) dropped 9.21% to $60.76, while POET Technologies (POET.US) slid 7.33% to $7.59. Applied Optoelectronics (AAOI.US) declined 6.00% to $106.49, Lumentum (LITE.US) fell 5.78% to $900.86, and Coherent (COHR.US) dropped 4.56% to $281.92.

Nokia (NOK.US) slipped 3.07% to $10.27, and Corning (GLW.US) edged down 2.43% to $149.09. Among derivative ETFs, LITZ.US rose 11.34% while MVLL.US plunged 20.43%, showing significant leverage effects. The sector faced broad pressure with all major stocks closing lower as investors turned cautious on slowing optical module demand growth.