On Wednesday morning, Coherent Corp. (COHR) rose 6% to $287.21, Lumentum Holdings (LITE) gained 5% to $878, and Applied Optoelectronics (AAOI) increased 3% to $97.9. This surge was primarily driven by short covering after these stocks experienced significant declines over the past month, rather than new catalysts or fundamental changes. The iShares Semiconductor ETF (SOXX) rose only 2%, and the SPDR S&P 500 ETF Trust (SPY) gained 0.3%, indicating that this rebound was limited to the sector and not a broad market revaluation.