美股光模块龙头公司业绩超预期，AI驱动行业需求上行

Core Insights - Coherent reported Q1 revenue of $1.58 billion, exceeding expectations of $1.54 billion, with adjusted EPS of $1.16 against a forecast of $1.05, driven by strong demand in AIDC and communications [1] - The company anticipates continued robust growth throughout the fiscal year, with stock price significantly rising in pre-market trading [1] Industry Analysis - According to LightCounting, the global Ethernet optical module market is expected to maintain a growth rate of around 50% until 2025, followed by a stable phase with a projected CAGR of 15% to 18% over the next five years [1] - The evolution of AI data center architecture is driving high-end optical module demand, indicating strong long-term growth momentum for the industry [1] - Technological advancements are shifting towards pluggable optical modules in the 800G and 1.6T era, with new technologies like LPO and CPO maturing for high-density deployments aimed at the 3.2T era, positioning CPO as a key solution for building scale-up multi-rack systems [1]