Lumentum Holdings Inc. (NASDAQ:LITE), a manufacturer of leading photonic and optical networking products, gained inadvertent notoriety last November when it dropped its quarterly sales guidance because a “lead customer” had reduced a prior order. Market watchers and most analysts immediately sensed the foreboding for Apple Inc. (NASDAQ:AAPL). Lumentum has been a key supplier for 3-D imaging and sensing products that power the face recognition ID laser sensors in higher-end iPhones.
The company’s 3-D laser sensing business, its most prominent operation, accounted for one-third of its $1.3 billion in sales for the past year. Due to its superior technological edge over