中文翻译
MicroLED在高盛报告所述的任何CPO相关批量增长之前，仍然感觉还很遥远。 Quantum Dot（如$ALMU/QD）甚至没有被提及，因为它的前景在数年之外。 在调整中，"溢价"会消失，但估值底部由收入支撑。 另一方面，$SIVEF或$AAOI即将进入批量生产阶段（<800万），直接处于CW领域。 我更倾向于在经过多年研发/扩张之后立即获得上涨空间... 而不是等待数年从研发到样品再到认证...然后才到达批量增长的转折点。 MicroLED的"技术就绪度"很低。
· 供应链分析
MicroLED技术就绪度低，$SIVEF/$AAOI等CW光模块企业更值得布局
英文原文
MicroLED still feels far away before any CPO related volume ramp per Goldman Sachs note. Quantum Dot like $ALMU / QD isn't even mentioned since it's way way out by years. In a correction, "premiums" disappear, but valuation floors are backed by revenue. $SIVEF or $AAOI on the other hand are volume ramping soon <8M and directly in the CW space. Would prefer immediate upside after years of R&D/expansion... Than waiting years at the beginning for R&D into sampling into qualification... Then inflection point of volume ramp. "Technology readiness" is low for MicroLED.