Coherent (COHR) Hits Fresh High on Q3 Blowout

We recently published 10 Stocks on Fire Amid Market Chaos. Coherent Corp. (NYSE:COHR) is one of the best-performing stocks on Thursday.

Coherent Corp. jumped to a new all-time high on Thursday, as investors cheered a stellar earnings performance in the first quarter of fiscal year 2026, thanks to strong demand from AI data centers.

At intra-day trading, Coherent Corp. (NYSE:COHR) soared to its highest price of $162.50 before trimming gains to end the day just up by 18.32 percent at $159.30 apiece.

In an updated report, Coherent Corp. (NYSE:COHR) said it incurred a net income attributable to shareholders of $226 million, marking a 769 percent jump from the $26 million previously.

Revenues increased by 17 percent to $1.581 billion from $1.348 billion year-on-year, driven by strong demand from AI-related data centers and communications.

Looking ahead, Coherent Corp. (NYSE:COHR) expects revenues for the second quarter of the fiscal period to end at $1.56 billion to $1.70 billion; gross margin percentage of 38 to 40 percent; and earnings per share of $1.10 to $1.30.

“We expect continued strong growth throughout this fiscal year based on increasing datacenter and communications demand along with our continued production capacity expansion,” said Coherent Corp. (NYSE:COHR) CEO Jim Anderson.

While we acknowledge the risk and potential of COHR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than COHR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.