光通信组件供应商Applied Optoelectronics（AAOI）今日盘中股价大跌5.12%，延续了近期该板块的疲软走势。
消息面上，独立研究机构SemiAnalysis近期发布的一份仅面向机构客户的付费报告引发了市场持续担忧。该报告核心观点认为，共封装光学（CPO）技术的大规模落地时间将推迟，主要基于对生产良率、系统整合难度及成本经济性的悲观评估。报告指出，在特定假设下，CPO的系统级良率可能低至约19.4%，这浇灭了市场对相关技术短期内快速放量的激进预期，导致光通信板块整体承压，AAOI作为该产业链上的公司受到波及。
尽管有市场观点指出，AMD正紧急抢占连续波（CW）激光器供应，而AAOI等独立供应商可能因此受益，但这一潜在的积极因素似乎未能抵消市场对CPO技术路线延迟的普遍忧虑，股价在负面情绪主导下走低。
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