What stocks are in the Photonics Stack — 8-layer breakdown watchlist?

The Photonics Stack — 8-layer breakdown watchlist tracks 27 tickers on QuantAbundancia: AIXXY, ASML, VECO, MKSI, TSEM, POET, LWLG, MTSI, LITE, COHR, plus 17 more.

What is the Photonics Stack — 8-layer breakdown watchlist?

The entire photonics value chain mapped end-to-end, from MOCVD reactors to AI-cluster optical switches. Front-end fabrication (layers 1-4) covers equipment, photonic ICs, discrete components, and substrates. Back-end fabrication (layers 5-8) covers transceivers, packaging, test, and systems. Each layer flags one "top pick" (★) per The Analyst's framework. Companion to the $LYTE ETF coverage — same universe, different lens: the ETF wraps the thesis, this watchlist breaks it down by capability layer.

Photonics Stack — 8-layer breakdown Watchlist — 27 Stocks (AIXXY, ASML, VECO)

1 · Manufacturing Equipment

4 picks

#1
AIXXYAixtron SE (ADR)
★ Aixtron SE (German MOCVD reactor leader) — top pick. Source uses $AIXA (Frankfurt); QA stores the OTC ADR. Photonic-chip deposition kit at >80% market share in compound-semi MOCVD.
—last
#2
ASMLASML Holding N.V.
EUV monopoly — also serves advanced-photonic-packaging lithography needs at leading-edge nodes.
$1591.72last
$1205fib
+32.1%vs fib
#3
VECOVeeco Instruments Inc.
MOCVD + atomic-layer deposition — direct AIXA competitor in compound-semi epi for photonics.
—last
#4
MKSIMKS Instruments, Inc.
MKS Instruments — vacuum, laser, and photonics subsystems for semicap (+ also relevant to Test & Measurement layer 7).
—last

2 · Photonic Integrated Circuits

4 picks

3 · Discrete Photonic Components

4 picks

#1
LITELumentum Holdings Inc.
★ Lumentum — top pick. Laser diodes, EML/DML for 800G+ transceivers (+ also primary supplier in Transceivers & Subsystems layer 5).
$962.12last
$615fib
+56.4%vs fib
#2
COHRCoherent Corp.
Coherent — laser components, optical comms, materials post II-VI merger (+ also active in Transceivers & Subsystems layer 5).
$379.35last
$249fib
+52.3%vs fib
#3
IPGPIPGP
IPG Photonics — fiber lasers; industrial-grade photonics scaled for compute interconnects.
$120.52last
#4
LASRLASR
nLIGHT — semiconductor + fiber lasers, dual-use commercial/defense exposure.
$75.85last

4 · Substrates & Wafers

4 picks

5 · Transceivers & Subsystems

2 picks

6 · Packaging & Assembly

2 picks

7 · Test & Measurement

3 picks

8 · Systems & Networking

4 picks

#1
AVGOBroadcom Inc.
★ Broadcom — top pick. Tomahawk switches, custom AI silicon, co-packaged-optics roadmap; the systems-level integrator of photonics.
$414.39last
$336fib
+23.3%vs fib
#2
CIENCiena Corporation
Ciena — coherent optical networking for DCI + AI cluster scale-out.
$587.84last
#3
MRVLMarvell Technology, Inc.
Marvell — optical DSPs, custom AI silicon, electro-optical I/O.
$190.87last
$126fib
+51.5%vs fib
#4
NVDANVIDIA Corporation
NVIDIA — Quantum + Spectrum-X switches consuming photonic interconnects at AI scale; CPO roadmap announced.
$219.62last
$71fib
+209.3%vs fib

Photonics Stack — 8-layer breakdown

Hypothetical· equal-weight buy at inception, mark-to-market today

1 · Manufacturing Equipment

2 · Photonic Integrated Circuits

3 · Discrete Photonic Components

4 · Substrates & Wafers

5 · Transceivers & Subsystems

6 · Packaging & Assembly

7 · Test & Measurement

8 · Systems & Networking

Photonics Stack — 8-layer breakdown

Hypothetical· equal-weight buy at inception, mark-to-market today

1 · Manufacturing Equipment

2 · Photonic Integrated Circuits

3 · Discrete Photonic Components

4 · Substrates & Wafers

5 · Transceivers & Subsystems

6 · Packaging & Assembly

7 · Test & Measurement

8 · Systems & Networking