Week of Mar 6:
- Ciena finally began burning through its record backlog and notched a record quarter
Week of Feb 27:
- Broadcom expects sales of switching silicon for AI applications to quadruple in 2023
- Credo got burned by its AEC launch customer, possibly due to shifting spending priorities
- Marvell is struggling with inventory bloat in the storage sector and is not sounding the all-clear alarm yet
And the quarter to date:
- Nvidia expects spending by hyperscale companies to grow in Q1 and accelerate thereafter
- Infinera * projects 8-9% growth in 2023 and will recognize XR optics revenue this quarter
- Adtran * and ADVA * both recorded record optical revenue and see no hesitation by customers to spend
- CommScope bookings are dropping, and short-term visibility is limited
- 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
- 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
- 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
- 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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