**[Serenity: Recent Plunge in Silicon Photonics Stocks is a Buying Opportunity, Fundamentals of SIVE and AAOI Remain Unchanged, Optimistic About Mass Production Ramp-Up]** BlockBeats News, June 26 — In response to the recent sharp pullback in the stock prices of Sivers Semiconductors (SIVE) and Applied Optoelectronics (AAOI), Serenity has taken a contrarian stance, stating that the price drop has made them "more bullish than ever" and elaborating on the investment logic for both companies. Regarding SIVE, with a current market capitalization of approximately $1.9 billion, Serenity believes the company plays a critical role as a "bottleneck supplier" of lasers in the silicon photonics supply chain. Its partners include GlobalFoundries for reference lasers, Ayar Labs for co-packaged optics (CPO) expansion within NVIDIA's NVLink ecosystem, POET, Jabil, and other supercomputing suppliers, with a gross margin of around 60%. Recent bearish reports from Swedish media and a 15% share expansion are attributed to Nasdaq listing float arrangements and acquisition authorizations, rather than a deterioration in fundamentals. Serenity views the approximately $140 million in convertible notes as "insignificant" for U.S. institutional investors. They believe prioritizing Nasdaq listing is the right strategy for SIVE to avoid interference from local media noise. As for AAOI, with a current market capitalization of approximately $10 billion, the company expects monthly revenue to reach $471 million by the second half of 2027. Reports indicate that supercomputing manufacturers like AMD are negotiating long-term agreements (LTA). Previously, AAOI raised approximately $1.4 billion through its ATM stock issuance program, leaving it with ample cash reserves. Serenity compares the current situation to last year's Nebius (NBIS), which plunged from $70 but rebounded above $250 as performance materialized. They believe photonics stocks generally exhibit higher volatility compared to other tech stocks and that investors simply need to wait for production ramp-up data from both companies to materialize. [Original Link]