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.

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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 Services Stocks We’re Skeptical Of

PLXS Cover Image

Business services providers thrive by solving complex operational challenges for their clients, allowing them to focus on their secret sauce. These firms have helped their customers unlock huge efficiencies, so it’s no surprise the industry has posted a 19.8% gain over the past six months, nearly mirrorring the S&P 500.

Regardless of these results, investors must exercise caution as many companies in this space are sensitive to the ebbs and flows of the broader economy. Keeping that in mind, here are three services stocks we’re passing on.

Plexus (PLXS)

Market Cap: $3.87 billion

With over 20,000 team members across 26 global facilities, Plexus (NASDAQ: PLXS) designs, manufactures, and services complex electronic products for companies in aerospace/defense, healthcare, and industrial sectors.

Why Does PLXS Fall Short?

  1. Products and services are facing significant end-market challenges during this cycle as sales have declined by 3.4% annually over the last two years
  2. Ability to fund investments or reward shareholders with increased buybacks or dividends is restricted by its weak free cash flow margin of 2.7% for the last five years
  3. Diminishing returns on capital suggest its earlier profit pools are drying up

Plexus is trading at $145.99 per share, or 19.3x forward P/E. If you’re considering PLXS for your portfolio, see our FREE research report to learn more.

Rogers (ROG)

Market Cap: $1.45 billion

With roots dating back to 1832, making it one of America's oldest continuously operating companies, Rogers (NYSE: ROG) designs and manufactures specialized engineered materials and components used in electric vehicles, telecommunications, renewable energy, and other high-performance applications.

Why Are We Out on ROG?

  1. Sales stagnated over the last five years and signal the need for new growth strategies
  2. Sales over the last five years were less profitable as its earnings per share fell by 15.3% annually while its revenue was flat
  3. Free cash flow margin dropped by 8.7 percentage points over the last five years, implying the company became more capital intensive as competition picked up

Rogers’s stock price of $80.04 implies a valuation ratio of 28.4x forward P/E. Check out our free in-depth research report to learn more about why ROG doesn’t pass our bar.

Ingram Micro (INGM)

Market Cap: $4.89 billion

Operating as the crucial link in the global technology supply chain with a presence in 57 countries, Ingram Micro (NYSE: INGM) is a global technology distributor that connects manufacturers with resellers, providing hardware, software, cloud services, and logistics expertise.

Why Do We Steer Clear of INGM?

  1. Scale is a double-edged sword because it limits the company’s growth potential compared to its smaller competitors, as reflected in its below-average annual revenue increases of 2% for the last five years
  2. Performance over the past two years shows its incremental sales were much less profitable, as its earnings per share fell by 14.5% annually
  3. Lacking free cash flow generation means it has few chances to reinvest for growth, repurchase shares, or distribute capital

At $20.82 per share, Ingram Micro trades at 6.7x forward P/E. To fully understand why you should be careful with INGM, check out our full research report (it’s free).

Stocks We Like More

When Trump unveiled his aggressive tariff plan in April 2025, markets tanked as investors feared a full-blown trade war. But those who panicked and sold missed the subsequent rebound that’s already erased most losses.

Don’t let fear keep you from great opportunities and take a look at 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-micro-cap company Tecnoglass (+1,754% 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

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