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These AI ‘Pick and Shovel’ Plays Soared on Friday
Shares of Coherent and other AI hardware makers made sizable gains this week.Credit: Matthias Balk / Picture Alliance / Getty ImagesKey TakeawaysShares of several photonics and optics firms seen as “pick and shovel” AI plays rose Friday.Better-than-expected earnings from Applied Optoelectronics could be taken as a positive signal for other companies due to report next week. Photonics and optics stocks got a big boost Friday in the wake of strong earnings and amid anticipation of a potential setback for overseas competition.Shares of laser and optical transceiver maker Coherent (COHR) jumped…
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