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Lumentum Holdings Inc. (NASDAQ:LITE<\/b><\/a>) is among the stocks in focus as Jim Cramer reviewed the S&P 500\u2019s top performers and the Nasdaq 100\u2019s biggest laggards for the first quarter<\/b><\/a>. Cramer mentioned the company\u2019s recent addition to the S&P 500, as he remarked:<\/p>\n Next up, the second-best performer in the S&P was Lumentum Holdings. That\u2019s a fiber optics play that just got added to the index last week, hence the 90.7% gain in the first quarter after the stock quadrupled last year. As long as the AI data center build-out continues unabated, I think these fiber optics stocks can keep winning, although maybe not as much as they\u2019ve been winning over the last 15 months. Still, good for them. Welcome to the big show, Lumentum.<\/p>\n<\/blockquote>\n A laptop and a computer monitor display a detailed stock market technical analysis chart. Photo by Jakub Zerdzicki on Pexels<\/p>\n Lumentum Holdings Inc. (NASDAQ:LITE) designs and sells optical and photonic products, including lasers and components, for cloud networking, data centers, and industrial applications. Cramer mentioned the company during the March 12 episode and said:<\/p>\n If you\u2019re looking for groups to buy into weakness as rising oil prices crush the stock market, you can do a lot worse than the data center suppliers. Later this month, two optical companies are joining the S&P 500: Coherent, which we spoke to earlier this week, and Lumentum. Now, both of them are getting $2 billion investment from NVIDIA, but Lumentum\u2019s been the better performer. It\u2019s up nearly 900% over the past 12 months, despite an 8% decline today as part of that broader tech-led sell-off.<\/p>\n<\/blockquote>\n While we acknowledge the potential of LITE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock<\/b><\/a>.<\/p>\n READ NEXT: <\/b>33 Stocks That Should Double in 3 Years<\/b><\/a> and <\/b>15 Stocks That Will Make You Rich in 10 Years<\/b><\/a>\u00a0<\/b><\/p>\n Disclosure: None. Follow Insider Monkey on Google News<\/b><\/a>.<\/b><\/p>\n<\/p><\/div>\n\n
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