Serenity Questions SIVE Development Strategy: Should Shift Focus to the U.S. Market, Otherwise Valuation Will Be 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 actual economic value brought by its orders.

Serenity stated that U.S. analysts are more likely to focus on what the two recently secured wafer fab capacity allocations mean for Sivers, and how much revenue and operating leverage these capacities will translate into amid supply bottlenecks and rising ASPs (average selling prices). Furthermore, topics such as NPO/CPO, pluggable optical modules, CPO vendors like Ayar ramping up in 2028, the ELS product collaboration with O-Net, and the scale and potential TAM (Total Addressable Market) of six newly added pluggable customers are also more worthy of in-depth discussion.

In contrast, questions raised by the local market tend to center on "how to stop the bleeding," why private customers cannot be disclosed, why the company focuses 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 in the Swedish market, the more its valuation becomes constrained by the investment logic of that market. Therefore, the company needs to more aggressively present future growth opportunities and the underlying economic value to U.S. investors.