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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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 Large-Cap Stocks with Open Questions

ADI Cover Image

Large-cap stocks have the power to shape entire industries thanks to their size and widespread influence. With such vast footprints, however, finding new areas for growth is much harder than for smaller, more agile players.

These trade-offs can cause headaches for even the most seasoned professionals, which is why we started StockStory - to help you find high-quality companies that can grow their earnings no matter what. That said, here are three large-cap stocks whose existing offerings may be tapped out and some other investments you should look into instead.

Analog Devices (ADI)

Market Cap: $122.5 billion

Founded by two MIT graduates, Ray Stata and Matthew Lorber in 1965, Analog Devices (NASDAQ: ADI) is one of the largest providers of high performance analog integrated circuits used mainly in industrial end markets, along with communications, autos, and consumer devices.

Why Does ADI Worry Us?

  1. Annual sales declines of 10.1% for the past two years show its products and services struggled to connect with the market during this cycle
  2. Efficiency has decreased over the last five years as its operating margin fell by 7 percentage points
  3. Underwhelming 6.5% return on capital reflects management’s difficulties in finding profitable growth opportunities, and its shrinking returns suggest its past profit sources are losing steam

Analog Devices’s stock price of $248.95 implies a valuation ratio of 29.4x forward P/E. If you’re considering ADI for your portfolio, see our FREE research report to learn more.

Royal Caribbean (RCL)

Market Cap: $95.36 billion

Established in 1968, Royal Caribbean Cruises (NYSE: RCL) is a global cruise vacation company renowned for its innovative and exciting cruise experiences.

Why Does RCL Fall Short?

  1. Sluggish trends in its passenger cruise days suggest customers aren’t adopting its solutions as quickly as the company hoped
  2. Estimated sales growth of 9.5% for the next 12 months implies demand will slow from its two-year trend
  3. Low returns on capital reflect management’s struggle to allocate funds effectively

Royal Caribbean is trading at $352.22 per share, or 21.1x forward P/E. Check out our free in-depth research report to learn more about why RCL doesn’t pass our bar.

D.R. Horton (DHI)

Market Cap: $54.87 billion

One of the largest homebuilding companies in the U.S., D.R. Horton (NYSE: DHI) builds a variety of new construction homes across multiple markets.

Why Are We Hesitant About DHI?

  1. Product roadmap and go-to-market strategy need to be reconsidered as its backlog has averaged 17% declines over the past two years
  2. Earnings per share have dipped by 5.8% annually over the past two years, which is concerning because stock prices follow EPS over the long term
  3. Waning returns on capital imply its previous profit engines are losing steam

At $184.33 per share, D.R. Horton trades at 15.6x forward P/E. To fully understand why you should be careful with DHI, check out our full research report (it’s free).

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 5 Strong Momentum 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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