高盛：Optical Transceive- 重申 2025 年下半年出货前景；2025 年第一季度总结

Heading into the results period, the main investor concern was on optical transceiver demand uncertainties from the reciprocal tariff policies and the potential impact on AI infrastructure demand, which is a key driver of optical transceiver demand (Read across: Global AI server report). Post 1Q results, key customers' overall 800G transceiver orders outlook for 2025 remained firm, and transceiver supply chain echoed a robust shipment trend into 2H25, noting 1) the need for supply/capacity for elevated dema ...