I bottom-ticked Aixtron so hard in November/December. I think I was the very first to call out their opto opportunity.

Aixtron was off 60% on SiC overcapacity when I started the series in November. The SiC glut was real. Every sellside note was about it.

The thing they weren't writing about: two-thirds of Aixtron's optoelectronics revenue was already data center-related. And both of its biggest laser customers just guided capex higher into 2026.

This theme has returned 150% since with major banks upgrading to buy and top analysts in the industry like Citrini calling out the opto cycle.

Now I'm about to begin a whole new series on power semis, another multi-billion dollar SAM for Aixtron that will drive the next leg up.

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