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

3 S&P 500 Stocks We Find Risky

WMT Cover Image

The S&P 500 (^GSPC) is home to the biggest and most well-known companies in the market, making it a go-to index for investors seeking stability. But not all large-cap stocks are created equal - some are struggling with slowing growth, declining margins, or increased competition.

Some large-cap stocks are past their peak, and StockStory is here to help you separate the winners from the laggards. Keeping that in mind, here are three S&P 500 stocks that don’t make the cut and some better choices instead.

Walmart (WMT)

Market Cap: $848.9 billion

Known for its large-format Supercenters, Walmart (NYSE: WMT) is a retail pioneer that serves a budget-conscious consumer who is looking for a wide range of products under one roof.

Why Does WMT Fall Short?

  1. Sizable revenue base leads to growth challenges as its 5% annual revenue increases over the last six years fell short of other consumer retail companies
  2. Widely-available products (and therefore stiff competition) result in an inferior gross margin of 24.8% that must be offset through higher volumes
  3. Performance over the past six years shows its incremental sales were much less profitable, as its earnings per share fell by 6.7% annually

Walmart’s stock price of $107.44 implies a valuation ratio of 38.6x forward P/E. Read our free research report to see why you should think twice about including WMT in your portfolio.

Quest (DGX)

Market Cap: $20.89 billion

Processing approximately one-third of the adult U.S. population's lab tests annually, Quest Diagnostics (NYSE: DGX) provides laboratory testing and diagnostic information services to patients, physicians, hospitals, and other healthcare providers across the United States.

Why Is DGX Not Exciting?

  1. Large revenue base makes it harder to increase sales quickly, and its annual revenue growth of 5.3% over the last two years was below our standards for the healthcare sector
  2. Day-to-day expenses have swelled relative to revenue over the last five years as its adjusted operating margin fell by 11.1 percentage points
  3. Diminishing returns on capital suggest its earlier profit pools are drying up

At $189.39 per share, Quest trades at 18.7x forward P/E. If you’re considering DGX for your portfolio, see our FREE research report to learn more.

Bristol-Myers Squibb (BMY)

Market Cap: $88.32 billion

With roots dating back to 1887 and a transformative merger in 1989 that gave the company its current name, Bristol-Myers Squibb (NYSE: BMY) discovers, develops, and markets prescription medications for serious diseases including cancer, blood disorders, immunological conditions, and cardiovascular diseases.

Why Are We Wary of BMY?

  1. Sizable revenue base leads to growth challenges as its 3.7% annual revenue increases over the last two years fell short of other healthcare companies
  2. Forecasted revenue decline of 4.4% for the upcoming 12 months implies demand will fall off a cliff
  3. Shrinking returns on capital from an already weak position reveal that neither previous nor ongoing investments are yielding the desired results

Bristol-Myers Squibb is trading at $43.38 per share, or 6.9x forward P/E. Check out our free in-depth research report to learn more about why BMY doesn’t pass our bar.

High-Quality Stocks for All Market Conditions

Trump’s April 2025 tariff bombshell triggered a massive market selloff, but stocks have since staged an impressive recovery, leaving those who panic sold on the sidelines.

Take advantage of the rebound by checking out our Top 6 Stocks for this week. 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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