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Lumentum 's (NASDAQ: LITE) stock price has declined nearly 50% over the past three years. The maker of optical chips and lasers lost its luster as its revenue growth cooled off, its margins shrank, and it faced fresh competitive threats.
Since investing often involves looking toward the potential for future growth, should investors consider buying Lumentum as a turnaround play for 2024? Let's look at its previous challenges, its plans for growth, and its valuation to find out.