Serenity Questions SIVE's Growth Strategy: Should Shift Focus to the U.S. Market, or Risk Valuation Being Capped

Odaily Planet Daily News "White-Haired Stock God" Serenity has published a post questioning the development strategy of Sivers Photonics (SIVE), arguing that the company remains overly focused on the Swedish market, while U.S. investors may be more interested in its future growth potential and the tangible economic value derived from its orders.

Serenity stated that U.S. analysts are more likely to focus on what Sivers' recent allocation of capacity from two wafer fabs actually means, and how much revenue and operating leverage this capacity will translate into amid supply bottlenecks and rising ASPs (average selling prices). Additionally, topics such as NPO/CPO, pluggable optical modules, the 2028 ramp-up of CPO players like Ayar, the collaboration between ELS products and O-Net, as well as the scale and potential TAM (Total Addressable Market) of six newly added pluggable customers, are also worth deeper discussion.

In contrast, questions from the local market tend to center on "how to stop the bleeding," why private customers cannot be disclosed, why the focus is on transceivers, and what the "business opportunity pipeline" actually means—forcing management to spend significant time responding to skepticism rather than discussing future growth.

Serenity believes that the more time Sivers spends on the Swedish market, the more its valuation will be constrained by Swedish market investment logic. Therefore, the company needs to more actively present future growth opportunities and their underlying economic value to U.S. investors.