quote: Mizuho on $AVGO / $LITE / $CRDO / $NVDA etc. Key points: 1) strong VR200 NVL72 ramps in 2027E, ramping 4Q26E led by xAI and META, as NVDA potentially delayed 4-die transition to Feynman with VR-Ultra on 2-die configuration, 2) we see focus on driving performance with NPO/CPO connectivity, ramping Spectrum-X (positive for LITE), 3) we see HBM content/GPU from GB300 to VR200 flat at 288GB while VR-ultra moves to 256GB HBM4e, but 70-100% higher HBM4e pricing and Feynman potentially returning to HBM content growth, 4) 2027E CoWoS growing >75% with NVDA/AVGO, and volume CoPoS ramp in 2028E, 5) INTC EMIB-T tailwinds from MTK's TPU being the first high-volume customer 2028E, and 6) CSP RPO/backlog now at $2.3T (up 3.5x y/y) as AgenticAI/inference accelerates. We remain positive with potential upside to DELL/CRDO/NVDA/AVGO/LITE in 2027E. | Mizuho CoWoS/GPU #'s Qtrly call, 8/14: $NVDA, $DELL, $SMCI, $AVGO, $CRDO, $TSM, $AMKR https://x.com/sean_________/status/2054191505699471573

quote: Mizuho on $AVGO / $LITE / $CRDO / $NVDA etc. Key points: 1) strong VR200 NVL72 ramps in 2027E, ramping 4Q26E led by xAI and META, as NVDA potentially delayed 4-die transition to Feynman with VR-Ultra on 2-die configuration, 2) we see focus on driving performance with NPO/CPO connectivity, ramping Spectrum-X (positive for LITE), 3) we see HBM content/GPU from GB300 to VR200 flat at 288GB while VR-ultra moves to 256GB HBM4e, but 70-100% higher HBM4e pricing and Feynman potentially returning to HBM content growth, 4) 2027E CoWoS growing >75% with NVDA/AVGO, and volume CoPoS ramp in 2028E, 5) INTC EMIB-T tailwinds from MTK's TPU being the first high-volume customer 2028E, and 6) CSP RPO/backlog now at $2.3T (up 3.5x y/y) as AgenticAI/inference accelerates. We remain positive with potential upside to DELL/CRDO/NVDA/AVGO/LITE in 2027E. | Mizuho CoWoS/GPU #'s Qtrly call, 8/14: $NVDA, $DELL, $SMCI, $AVGO, $CRDO, $TSM, $AMKR https://x.com/sean_________/status/2054191505699471573

Source:https://x.com/sean_________/status/2089061707050062160