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  • Arista projects +25% growth in 2023; Microsoft and Meta are now 40% of its business
  • Cisco * seeing double-digit market growth, except for service providers who are absorbing inventory
  • Ribbon * is growing revenue strongly in Optical and Routing after several new EMEA and APAC wins

And the quarter to date:

Week of Feb 6th

  • Fabrinet indicates supply chain issues are hitting 400G telecom module business hard, but datacenter demand is solid
  • Coherent* sees no slowdown in demand from hyperscale operators
  • Lumentum* sees the opposite, as the hyperscale operators absorb inventory for all of 202

Week of Jan 27th

  • Cloud companies all reported results – what does capex look like?
  • Meta cuts capex projections but is still spending at historically elevated rates due to AI
  • Google’s revenue stops growing, but the company is guiding hardware capex up
  • Amazon AWS revenue is in a downtrend with decreasing visibility and no capex guide, but no indication of capex cuts
  • Corning is seeing a pocket of weakness in the red-hot fiber cabling boom
  • Juniper * is shipping against a massive backlog and thinks demand is good
  • MACOM is seeing broad weakness in 5G and CATV and emerging weaknesses in the datacenter market

Week of Jan 20th

  • Microsoft had poor financial results but committed to keeping capex rolling
  • Nokia * puts up good optical and IP numbers
  • Intel data center results are terrible, and it is exiting the Tofino (Barefoot) Ethernet switch business
  • Calix sees strong bookings and no double ordering

* Results are available for download in real-time Excel files (Hardware) (Components)

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