中文翻译
不会。实际上，像 $AXTI 这种票今年迄今回报 280%，对比 $SPY 还是 -3%，它们反而会大幅跑赢指数！ 如果数千亿美元的超大规模云 CapEx 沿着供应链往上游流向这些公司，尤其是光子学这些瓶颈： 那么基本面的重估（尤其像 $SNDK 那样，靠提价带来经营利润的案例）会无视宏观环境。
· 方法论
认为即使宏观不佳，光子供应链瓶颈在资金流入后仍会跑赢大盘。
英文原文
Nope. If anything they’ll all strongly outperform the index as seen with $AXTI 280% YTD return vs. $SPY -3% YTD! If hundreds of billions of hyperscaler capex flows upstream to these companies, especially in photonics sectors bottlenecks: The fundamental re-rating (esp. with price hikes -> operational income as seen with $SNDK) will ignore macro climates.