$AXT(AXTI.US) rose by over six points, and the story of indium phosphide substrates for data center lasers has been brought up again; $Fabrinet(FN.US), $Coherent Corp.(COHR.US) both saw small gains, while $Applied Optoelectronics(AAOI.US) remained flat.
The optical module industry chain goes through such rotations every now and then. The elasticity of upstream materials is always greater than that of midstream assembly. With the demand for switching from 800G to 1.6T clearly there, a pullback is an opportunity to get in 😀
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