Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

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Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

2 Volatile Stocks with Exciting Potential and 1 That Underwhelm

ZS Cover Image

Market swings can be tough to stomach, and volatile stocks often experience exaggerated moves in both directions. While many thrive during risk-on environments, many also struggle to maintain investor confidence when the ride gets bumpy.

These stocks can be a rollercoaster, and StockStory is here to guide you through the ups and downs. That said, here are two volatile stocks that could reward patient investors and one best left to the gamblers.

One Stock to Sell:

Elastic (ESTC)

Rolling One-Year Beta: 1.53

Built on the powerful open-source Elasticsearch technology that powers search functionality for thousands of websites worldwide, Elastic (NYSE: ESTC) provides a search and AI platform that helps organizations find insights from their data, monitor applications, and protect against security threats.

Why Does ESTC Fall Short?

  1. Estimated sales growth of 12.3% for the next 12 months implies demand will slow from its two-year trend
  2. Operating profits increased over the last year as the company gained some leverage on its fixed costs and became more efficient
  3. Capital intensity will likely ramp up in the next year as its free cash flow margin is expected to contract by 2.1 percentage points

At $86.73 per share, Elastic trades at 5x forward price-to-sales. Check out our free in-depth research report to learn more about why ESTC doesn’t pass our bar.

Two Stocks to Buy:

Zscaler (ZS)

Rolling One-Year Beta: 1.40

Pioneering the "zero trust" approach that has fundamentally changed enterprise network security, Zscaler (NASDAQ: ZS) provides a cloud-based security platform that connects users, devices, and applications securely without traditional network-based security hardware.

Why Should You Buy ZS?

  1. ARR growth averaged 22.6% over the last year, showing customers are willing to take multi-year bets on its software
  2. Projected revenue growth of 22.6% for the next 12 months suggests its momentum from the last two years will persist
  3. ZS is a free cash flow machine with the flexibility to invest in growth initiatives or return capital to shareholders

Zscaler is trading at $314.18 per share, or 15.1x forward price-to-sales. Is now a good time to buy? See for yourself in our full research report, it’s free for active Edge members.

Western Alliance Bancorporation (WAL)

Rolling One-Year Beta: 1.60

Operating through five distinct regional banking divisions across the western United States, Western Alliance Bancorporation (NYSE: WAL) provides commercial banking, treasury management, mortgage services, and specialized financial solutions through its banking divisions and subsidiaries.

Why Are We Backing WAL?

  1. Annual net interest income growth of 18.9% over the last five years was superb and indicates its market share increased during this cycle
  2. Earnings growth has trumped its peers over the last five years as its EPS has compounded at 13.4% annually
  3. Impressive 15% annual tangible book value per share growth over the last five years indicates it’s building equity value this cycle

Western Alliance Bancorporation’s stock price of $76.34 implies a valuation ratio of 1.2x forward P/B. Is now the right time to buy? Find out in our full research report, it’s free for active Edge members.

Stocks We Like Even More

Donald Trump’s April 2025 "Liberation Day" tariffs sent markets into a tailspin, but stocks have since rebounded strongly, proving that knee-jerk reactions often create the best buying opportunities.

The smart money is already positioning for the next leg up. Don’t miss out on the recovery - check out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025).

Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today

StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.

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