FURUKAWA

历史观点（1 条，最新在上）

1. 2026/05/23 06:12提及跳转 X 原文 →
   English · 原文

   $AAOI is more pure manufacturing scale and I'm extremely bullish on them. So it's more like Furukawa + Innolight in my view? So extremely bullish for revenue ramp. $SIVE is just pure one-of-a-kind IP, where major CPO hyperscaler supplier seems to all use them, like Ayar/Celestial and others. Even $JBL made groundbreaking 1.6T LRO moats with Sivers. Sky is the limit here with Sivers and they can always vertically integrate like $COHR / $AAOI down the road too with capex spend. But their main focus right now should just creating the largest IP moat possible + outsource manufacturing to keep capex light. Can always vertically integrate the assembly, laser fab down the road too. I like them both for different reasons.

   中文 · 翻译

   $AAOI 更偏向纯粹的制造规模，我极度看好他们。 所以在我看来它更像 Furukawa + Innolight？因此极度看好其营收增长。 $SIVE 则是纯粹独一无二的 IP，主要的 CPO 超大规模供应商似乎都在用他们，比如 Ayar/Celestial 等。 连 $JBL 都与 Sivers 在 1.6T LRO 上建立了突破性的护城河。 Sivers 的上限是天花板，未来他们也可以像 $COHR / $AAOI 那样通过资本开支实现垂直整合。 但他们目前的主要重点应该是尽可能打造最大的 IP 护城河 + 将制造外包以保持轻资本。 以后随时可以垂直整合组装和激光器制造。 我因为不同的原因看好这两家。