Incredible growth expected for $Lumentum(LITE.US), $Coherent Corp.(COHR.US), and $Applied Optoelectronics(AAOI.US) with new GS optical transceiver forecasts.

- Global optical transceiver TAM revised up by 33% / 81% / 115% in 2026-28E.

- In 2026/27/28E: optical transceiver market to reach $68B/131B/148B.

- Driven by (1) higher rack-level AI server and ASIC AI server shipments and (2) higher estimates on the usage of optical transceivers per Nvidia GPU in rack-level AI servers.

- 800G and above segment to increase at a +69% CAGR to reach $45B/108B/130B.

- 800G/1.6T shipment volumes at 45M/33M units in 2026E, growing to 49M/71M in 2027E, with 3.2T shipment ramping up to 23M/68M in 2027/28E.

- Silicon photonics will account for 60%/80%/80% of 800G/1.6T/3.2T optical transceivers.

Just insane growth on top of what most people had forecasted a few months ago.