AI的高景气料将延续，关注通信ETF（515880）回调布局机会

Core Viewpoint - The recent outflow of broad-based funds and disappointing earnings forecasts have created pressure on certain ETFs, particularly in the satellite communication sector, which has seen a significant pullback [1] Group 1: Demand Side - The demand for optical modules is expected to double by 2027, driven by companies like NV and Google, with the overall 800G market continuing to grow [1] - The penetration of optical technologies is anticipated to increase, with NPO expected to ramp up production in 2026 and CPO likely to be applied in scale-up by 2027, opening up significant opportunities in optical interconnects [1] Group 2: Supply Side - The year 2026 is projected to experience a visible supply-demand imbalance, with ongoing upward revisions in demand [1] - Laser components are reportedly locked in orders, and leading optical module companies have noted a shortage of Faraday rotators, which are the most expensive components in the supply chain [1] Group 3: Technological Advancements - The year 2026 is expected to be a year of significant technological advancements in the optical sector, with continuous iterations raising industry barriers and improving profitability [1] - The evolving landscape is likely to enhance the overall market enthusiasm for the sector [1][2]