Jan. 13 at 5:04 PM
Optical plate:
$LITE $COHR $CIEN
Industry Short Review: Supply Chain "Air Pocket" Risks
Last week, the leader of the optical industry (
$LITE /
$COHR /
$CIEN) fell below the key technical support level (10-day / 20-day moving average). China's restrictions on exports of key minerals such as ruthenium have led to market concerns about the limited supply of ruthelium phosphide (InP). From the beginning of the year to the last weekend, the relative performance of the plate fell significantly behind
$QQQ (+1%),
$SMH (+5.5%) and other AI beneficiary stocks.
$LITE and
$COHR rely heavily on InP substrates as raw materials in EML/CW laser products, and supply uncertainty weakens short-term shipments and revenue visibility. From a fundamental point of view, the market generally believes that
$COHR is less affected than
$LITE, because it has a higher degree of vertical integration after the acquisition of II-VI and has the ability to make a self-made InP substrate.
$CIEN ……
