How do you optimize React applications for performance?

1. Component Should Update Carefully
Implement shouldComponentUpdate or React.memo to prevent unnecessary re-renders by comparing props or states.

2. Use Functional Components and Hooks
Functional components with hooks are generally more performant than class components.

3. Lazy Loading Components
Use React.lazy for dynamic imports of components that aren't immediately needed. This reduces the initial load time.

4. Code Splitting
Split your code into smaller chunks using dynamic import() statements or libraries like Loadable Components. This ensures users only download what's necessary for the current view.

5. Use Key Prop Appropriately in Lists
Ensure that each list item has a unique and consistent key prop for efficient re-rendering.

6. Throttling and Debouncing Event Handlers
This can optimize events like scrolling, typing, or window resizing that trigger a high number of updates.

7. Optimize Images and Assets
Compress images and use appropriate formats. Consider using techniques like lazy loading for images.

8. Avoiding Memory Leaks
Clean up subscriptions and intervals in your component's useEffect cleanup function.