$Coherent (COHR.US)$ Coherent (COHR) is one of the strongest AI infrastructure names you own, and in some ways it sits between Arista, Ciena, and Rambus.
The investment thesis is simple:
More AI GPUs → More optical connections → More Coherent products.
Coherent supplies critical optical technologies, including transceivers, lasers, optical switches, and photonics components used in AI data centers and communications networks.
Why COHR Is So Bullish
1. AI Data Centers Are Driving Explosive Growth
Recent results show AI demand is becoming the dominant growth engine:
Q3 FY2026 revenue grew 21% YoY.
Datacenter & Communications revenue grew from roughly $1.0B to $1.4B.
Operating income and margins improved significantly.
Even more impressive:
Datacenter-related business now represents the majority of company growth, driven by AI networking demand.
2. NVIDIA Is Effectively Endorsing Them
One of the strongest signals came when NVIDIA committed billions of dollars to photonics suppliers, including Coherent.
NVIDIA announced:
$2 billion investment in Coherent
Multi-year optical component commitments
Manufacturing capacity agreements
That is a very strong vote of confidence in Coherent's technology and manufacturing capabilities.
3. Optical Networking Is the Next Bottleneck
Most investors focus on:
GPUs
HBM memory
But eventually the bottleneck becomes:
moving data between GPUs and AI clusters.
This requires:
800G optics
1.6T optics
Optical circuit switches
Co-packaged optics
These are all areas where Coherent is investing aggressively.
Why COHR May Have More Upside Than ANET
Arista is already a very mature, high-quality company.
Coherent is smaller and earlier in the AI optics cycle.
If AI infrastructure spending remains strong:
Company Potential Upside
NVIDIA Very High
Coherent Very High
Arista High
Oracle High
TSMC High
Because Coherent starts from a much smaller base, a doubling or tripling of AI optics demand can have a larger impact on earnings growth.
Risks
The main risks are:
Supply constraints in indium phosphide (a key optical material).
Delays in co-packaged optics adoption.
Valuation has already expanded significantly after a strong run.
This is why COHR tends to be more volatile than ANET.
My Ranking of Your AI Names
Tier 1 (Highest Conviction)
NVIDIA
Arista Networks
Broadcom
Oracle
TSMC
Tier 2 (Higher Upside, Higher Volatility)
Coherent
Onto Innovation
Ciena
Rambus
Marvell Technology
For your particular portfolio, if I were looking for the names most likely to surprise positively over the next 3–5 years, Oracle, Coherent, and Onto Innovation are the ones that still seem less fully appreciated by the market than NVIDIA or Arista. Coherent especially benefits if the AI buildout shifts from being primarily a GPU story to also becoming an optics and interconnect story.
ข้อความสงวนสิทธิ์: มูมู่คอมมูนิตี้้ได้รับการสนับสนุนโดย Moomoo Technologies Inc. และมีวัตถุประสงค์เพื่อการศึกษาเท่านั้นอ่านเพิ่มเติม
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