1.6T光模块订单有上修趋势，关注通信ETF（515880）

Core Viewpoint - The AI computing hardware sector is leading the market, particularly in overseas supply chains, with expectations of sustained high demand for AI technologies and related components [1][2]. Group 1: Market Trends - Major overseas tech companies are set to release their Q3 earnings reports, with expectations of exceeding forecasts, indicating a robust outlook for AI [2]. - There is a trend of upward revisions in orders for 800G/1.6T optical modules, driven by strong demand from overseas cloud service providers [1][4]. - TSMC reported a 30.3% year-on-year increase in revenue and a 39.1% increase in net profit for Q3, highlighting strong AI demand and an upward revision of its 2025 capital expenditure guidance [2]. Group 2: Stock Performance - Recent stock price increases for companies like Oracle, NVIDIA, AMD, and Broadcom following announcements of partnerships or orders with OpenAI suggest a positive market sentiment towards AI investments [2][4]. - The Communication ETF (515880) and the ChiNext AI ETF (159388) are highlighted as potential investment opportunities due to their high exposure to optical modules [4]. Group 3: Domestic Replacement Trend - There is significant room for improvement in the domestic production rate of key equipment required for advanced processes, such as photolithography and etching equipment [4]. - Investors are encouraged to consider semiconductor equipment ETFs (159516) and integrated circuit ETFs (159546) to capitalize on the domestic replacement trend [4].