Weeks of May 15th & 22nd
- Marvell projected the bottom in Datacenter silicon demand and messaged heavily about A.I.
- Broadcom Datacenter revenue continues its consistent increase.
- Credo shoots down linear-drive and co-packed optics as threats
This is the final note for 1Q23 – next week starts 2Q23 with Ciena and Semtech. You can see a full archive of the quarter’s results below.
- Fabrinet‘s 400/800G Datacom module assembly work is offsetting inventory-related weakness in Telecom
- Adtran‘s ADVA acquisition had record revenue but CPE equipment is in inventory correction
- Lumentum results may be a negative leading indicator for optical transport hardware
- Coherent saw demand for both telecom and datacom components weaken rapidly as the quarter progressed
- Arista Networks changed its tone and is now more cautious about revenue from cloud operators
- Infinera revenue growth is slowing while customers hesitate, and it is counting on a strong 2H23 to meet its growth guidance
- CommScope expects continued inventory absorption and weakness but believes things will turn upward in 2H23
- MACOM indicates demand from its optical transceiver customers will be 60-70% of previous years’ levels.
- Intel changes the accounting for its optical BU
- Ribbon continues to ride service provider demand and execute a turnaround of its IP Optical business
- Juniper supply chain issues resolve but company cautions on cloud operator demand
- Corning sees continued weakness in fiber connectivity products from FTTH and cloud customers
- Nokia posts record Q1 optical and IP results, but the mobile infrastructure shipment outlook is weak for Q2
- Calix continues a trend of excellent results but dials down growth projections based on 2H23 uncertainty
- Ericsson deals with inventory bloat, and customers are cautious about mobile capex
- Ciena finally began burning through its record backlog and notched a record quarter
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