AXT: The AI Infrastructure Bottleneck Wall Street May Be Underestimating

Impact · against what's priced in

The article is primarily a bullish case for AXTI, though it provides negligible new catalysts for Coherent and Lumentum. For the latter two, the news confirms existing knowledge of their supply chain aggression and backlog, which the market has already largely discounted into their current prices.

COHR+0.10

Already priced in

The price assumes

The existing backlog of orders that extends into 2028