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Aixtron: The Growth Step (Pt.3)
Aixtron

Aixtron: The Growth Step (Pt.3)

Part 3 examines why epitaxial qualification — not hardware — is Aixtron's true moat, how InP substrate constraints gate capacity expansion, and why Veeco's competitive gains appear bounded enough that Aixtron can lose share while still growing into a much larger market.
20 min read 11 Jun 2026
Photonics: The $91 Billion Question (Pt.1)
Optics
22 min read 07 Jun 2026

Photonics: The $91 Billion Question (Pt.1)

CPO's $91 Billion Assumption, NPO's Quiet Momentum, and the OCS Wildcard — Mapping the Bottlenecks That Will Separate Winners from Consensus Darlings
Aixtron: The Growth Step (Pt.2)
Aixtron
18 min read 03 Jun 2026

Aixtron: The Growth Step (Pt.2)

Part 2 examines Aixtron's capacity constraints, competitive moat, and the fragmented optical architecture landscape — confirming that every path to greater interconnect density runs through its reactors, but that the stock's current pricing leaves limited room for execution misses.
Lumentum Holdings: The Optical Engine Behind the AI Data-Center Revolution
Lumentum Holdings
31 min read 06 Nov 2025

Lumentum Holdings: The Optical Engine Behind the AI Data-Center Revolution

Summary * Record 1Q26: $533.8m revenue (+58% YoY) with next-quarter guide $630–$670m; cloud/AI now >60% of mix, beating the $600m/quarter goal early. * Growth is structural as hyperscalers shift from copper scale-up to optical scale-out, accelerating 800G/1.6T transceiver demand. * LITE’s leadership

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