Interesting photonics selloff today on no news?
$Lumentum(LITE.US) down -4.95%$Applied Optoelectronics(AAOI.US) down -4.85%$SIVE down -14.8%$SOI down -5.73%$AXT(AXTI.US) down -8.13%$IQE down -12.13%I think it’s probably the most compelling theme going forward (even more than power semis). Just tends to be very volatile on the way up. Surprised about $Applied Optoelectronics(AAOI.US) though given there’s some institutional notes apparently about long term $AMD(AMD.US) or $NVIDIA(NVDA.US) agreements. (Rosenblatt). Maybe $600m ATM caps some near term upside.$SIVE as well, given EU Chips Act 2 is next week around photonics, and they’re listed on the blueprint. Same with MSCI/NASDAQ omx inflow next week. I’ve been personally adding to positions since I have high conviction in the photonics theme (CPO especially) given TAM expansion overall next 2 years.Source: Serenity
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