09 Sep 2025 18:56:12 ET │ 25 pages A c t i o n | China Networking Sector Thoughts Over Debate: Story Has Just Begun; Buy Innolight/Eoptolink CITI'S TAKE We maintain a constructive view on sector supported by 1) optimistic outlook for ASIC growth from Broadcom, 2) positive Meta/OpenAI's L-T capex outlook, Oracle's significant datacenter build-out plan/strong RPO contract backlog, which all point toward better demand visibility beyond 2026, and 3) scale-up/OCS TAM for optics, and we expect potential LPO adopt ...