Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<div><ul><li>Water Tower AI Flow Index. We monitor ~400 public companies across tech and AI for performance and AI-related news flow. Last month (ending 2/28), the WTR AI Index was down 0.6% M/M versus the S&amp;P 500 Index (down 0.9%), the Russell 2000 Index (up 0.2%), and the Nasdaq Index (down 2.3%).</li><li>Within the WTR AI Flow Index, declines in Software, Internet &amp; Data Services, and Other Industries were not completely offset by gains in Semiconductor and Other Tech.</li><li>Software (22% of the index) was down 12.0%, while Semiconductor (17% of the index) was up 13.9%, Internet and Data Services (7% of the index) was down 12.8%, Other Tech (24% of the index) was up 13.0%, and Other Industries (30% of the index) was down 5.3%.</li></ul></div>

Water Tower AI Flow Index. We monitor ~400 public companies across tech and AI for performance and AI-related news flow. Last month (ending 2/28), the WTR AI Index was down 0.6% M/M versus the S&amp;P 500 Index (down 0.9%), the Russell 2000 Index (up 0.2%), and the Nasdaq Index (down 2.3%).Within the WTR AI Flow Index, declines in Software, Internet &amp; Data Services, and Other Industries were not completely offset by gains in Semiconductor and Other Tech.Software (22% of the index) was down 12.0%, while Semiconductor (17% of the index) was up 13.9%, Internet and Data Services (7% of the index) was down 12.8%, Other Tech (24% of the index) was up 13.0%, and Other Industries (30% of the index) was down 5.3%.

AI Flow Index : Sailing a Sea of Companies in AI - 2 March 2026

<ul><li>Water Tower AI Flow Index. We monitor ~400 public companies across tech and AI for performance and AI-related news flow.</li><li>Last month (ending 11/30), the WTR AI Index was down 7.0% M/M versus the S&amp;P 500 Index (up 0.1%), the Russell 2000 Index (up 0.8%), and the Nasdaq Index (down 1.6%).</li><li>Software (28% of the index) was down 8.6%, while Semiconductor (12% of the index) was down 3.7%, Internet and Data Services (8% of the index) was down 20.9%, Other Tech (21% of the index) was down 5.5%, and Other Industries (31% of the index) was down 3.6%. </li></ul>

Water Tower AI Flow Index. We monitor ~400 public companies across tech and AI for performance and AI-related news flow.Last month (ending 11/30), the WTR AI Index was down 7.0% M/M versus the S&amp;P 500 Index (up 0.1%), the Russell 2000 Index (up 0.8%), and the Nasdaq Index (down 1.6%).Software (28% of the index) was down 8.6%, while Semiconductor (12% of the index) was down 3.7%, Internet and Data Services (8% of the index) was down 20.9%, Other Tech (21% of the index) was down 5.5%, and Other Industries (31% of the index) was down 3.6%. 

AI Flow Index : Sailing a Sea of Companies in AI

United States

Lumentum Holdings Inc. operates as a holding company. The Company, through its subsidiaries, supplies optical and photonic products. Lumentum Holdings serves data communications and telecommunications, networking, and life-sciences markets worldwide.

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Lumentum Holdings (LITE US)

AI Flow Index : Sailing a Sea of Companies in AI - 2 March 2026

Water Tower AI Flow Index. We monitor ~400 public companies across tech and AI for performance and AI-related news flow. Last month (ending 2/28)...

Water Tower Research

AI Flow Index : Sailing a Sea of Companies in AI

Last month (ending 11/30), the WTR AI Index was down 7.0% M/M versus the S&P 500 Index (up 0.1%), the Russell 2000 Index (up 0.8%), and the Nasdaq...

Water Tower Research

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