BUZZ - Technology hardware stocks lag due to concerns over artificial intelligence returns

October 16 - ** Technology hardware companies in the S&P 500 Index .SPX were among the worst-performing stocks this week

** The S&P 1500 Technology Hardware & Equipment Index .SPCOMTEHW fell 3.3% this week, while the S&P 500 Index .SPX declined by 1.2%.

** Artificial intelligence infrastructure stocks were weak this week, affected by market concerns that heavily indebted data center operators may take longer than expected to see returns from AI investments

** The biggest declines this week came from network equipment makers Lumentum Holdings LITE.O and Ciena CIEN.N, whose shares dropped 2.5% and 3.2% respectively as of Friday. By Thursday’s close, both companies had already lost nearly a quarter of their market value

** Despite the decline this week, LITE’s stock price has more than doubled so far this year

** Optical component maker Applied Optoelectronics AAOI.O dropped 3.3%, and Fabrinet FN.N fell 2.1%

** Server manufacturer Hewlett Packard Enterprise HPE.N, optical component maker Coherent COHR.N, electronics maker Flex FLEX.O, and AI server manufacturer Super Micro Computer SMCI.O saw their shares decline between 3.6% and 4.4%

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