Photon Capital(@PhotonCap):The most important argument here is not simply that the OCS market is growing, but that market growth does not automatically translate into durable revenue or market share for today’s suppliers. $LITE currently benefits from manufacturing and customer-qualification experience, while $COHR, POLATIS and integrated OCS approaches are creating new competitive paths that could change where value accrues. Another important distinction is that moving from 800G to 1.6T and beyond does not necessarily require replacing the OCS. That makes port count, deployment volume, merchant share and manufacturing economics more useful variables for evaluating the OCS opportunity than bandwidth growth alone.

2026.09.22 16:58

The most important argument here is not simply that the OCS market is growing, but that market growth does not automatically translate into durable revenue or market share for today’s suppliers. $LITE currently benefits from manufacturing and customer-qualification experience, while $COHR, POLATIS and integrated OCS approaches are creating new competitive paths that could change where value accrues. Another important distinction is that moving from 800G to 1.6T and beyond does not necessarily require replacing the OCS. That makes port count, deployment volume, merchant share and manufacturing economics more useful variables for evaluating the OCS opportunity than bandwidth growth alone.