What are the top stocks in the Networking / Optical bubble?

QuantAbundancia maps 14 primary stocks to the Networking / Optical bubble: ANET, ALAB, AAOI, AAOI, AAOI, AAOI, AAOI, AAOI, CIEN, COHR, plus 4 more.

What ETFs carry the Networking / Optical thesis?

1 ETF on QuantAbundancia carry the Networking / Optical thesis: AIS.

How correlated are Networking / Optical stocks?

The Networking / Optical bubble's primary members co-move with a 252-day average correlation of 0.50 across 28 pairs - decent co-movement.

Networking / Optical

Moving bits between tens of thousands of GPUs - optical is non-negotiable.

0.505avg corr (252d)

0.33 / 0.75min / max

28pairs

14primary stocks

1etfs

Decent co-movement

Stocks

ANETArista Networks, Inc.
Datacenter switching leader.
$168.56
ALABAstera Labs, Inc.
Astera Labs - AI cluster interconnect: CXL switches, PCIe/Aries retimers, AI server fabric. Pure-play on the bandwidth between $NVDA + the rest of the rack.
$319.74
$186fib+72%
AAOIApplied Optoelectronics, Inc.
Applied Optoelectronics - datacenter optical transceivers (400G/800G); hyperscaler bandwidth-buildout pure play.
$100.24
$109fib-8%
AAOIApplied Optoelectronics, Inc.
Applied Optoelectronics - datacenter optical transceivers (400G/800G); hyperscaler bandwidth-buildout pure play.
$100.24
$159fib-37%
AAOIApplied Optoelectronics, Inc.
Applied Optoelectronics - datacenter optical transceivers (400G/800G); hyperscaler bandwidth-buildout pure play.
$100.24
$112fib-11%
AAOIApplied Optoelectronics, Inc.
Applied Optoelectronics - datacenter optical transceivers (400G/800G); hyperscaler bandwidth-buildout pure play.
$100.24
$225fib-55%
AAOIApplied Optoelectronics, Inc.
Applied Optoelectronics - datacenter optical transceivers (400G/800G); hyperscaler bandwidth-buildout pure play.
$100.24
$210fib-52%
AAOIApplied Optoelectronics, Inc.
Applied Optoelectronics - datacenter optical transceivers (400G/800G); hyperscaler bandwidth-buildout pure play.
$100.24
$102fib-2%
CIENCiena Corporation
Optical systems, DCI.
$388.81
COHRCoherent Corp.
Optical components, transceivers.
$276.96
$249fib+11%
CRDOCredo Technology Group Holding Ltd
Credo Technology - high-speed optical SerDes + Active Electrical Cables (AECs); 800G/1.6T datacenter interconnect ramp.
$207.97
$148fib+41%
FNFabrinet
The optical-transceiver manufacturing backbone: dominant outsourced builder of 400G / 800G / 1.6T datacom transceivers and telecom/optical assemblies for the OEMs ($CIEN, $LITE, $CSCO) and AI-networking optics ($NVDA). The manufacturing layer of the optical-interconnect supply chain, a niche the EMS giants ($JBL, $FLEX) avoid for the optical-alignment expertise required.
$460.19
LITELumentum Holdings Inc.
Largest pure-play optical interconnect manufacturer on the US tape - high-speed transceivers (400G/800G/1.6T), pluggable optics, optical circuit switches (OCS), and co-packaged optics (CPO) components feeding AI datacenter bandwidth. Q3 FY26 record $808M revenue (+90% YoY) on capacity-constrained supply. NVIDIA strategic partnership 2026 (anchor + $2B equity investment) plus the disclosed >$400M OCS backlog and CPO multi-hundred-million-dollar incremental order make LITE the deepest US-listed expression of the optical-bottleneck thesis. Weight 0.80 reflects pure-play exposure with NVIDIA-concentration risk.
$706.23
$615fib+15%
SIVESivers Semiconductors AB
Photonics leg: InP / silicon-photonics lasers + external light-source modules for co-packaged optics in AI datacenters (GlobalFoundries, O-Net, Enablence partners), plus mmWave RF/optical connectivity. Core optical-interconnect + connectivity supply-chain exposure.
-
Adjacent (secondary)
AVGOBroadcom Inc.
Silicon for switches/optical.
$374.45
$336fib+11%
MRVLMarvell Technology, Inc.
DPUs + optical silicon.
$188.30
$126fib+49%
AXTIAXT, Inc.
InP / GaAs compound-semi wafers - upstream feed for optical transceiver chains (COHR/LITE/CIEN). $100M+ AI-optical backlog, $632.5M raise funding Tongmei capacity doubling. Secondary tier - single-stock 2x ETF (AXTX) means stock moves are flow-distorted vs the bubble core.
$45.57
CRWVCoreWeave, Inc.
Classifier 2026-05-07: extended tier, corr 0.43 to networking-optical centroid (29 obs, 2nd: space 0.423). is_primary_bubble=FALSE.
$72.91
$96fib-24%
CSCOCisco Systems, Inc.
Classifier 2026-05-07: extended tier, corr 0.47 to networking-optical centroid (29 obs, 2nd: datacenter-power 0.336). is_primary_bubble=FALSE.
$109.66
POETPOET Technologies Inc.
Photonic interposer / co-packaged-optics narrative play - cheapest-lottery-ticket screen on the bubble's CPO theme (NVDA Spectrum-X, AVGO 200G/lane SiPh, ANET Etherlink). Q1 FY26 rev $503K + $50M Lumilens PO announced 2026-05-14. Tertiary tier - dev-stage with $1M TTM revenue, ~2650× P/S; bubble-correlated via CPO headlines but structurally one hop from the production transceiver flow.
$7.67

Correlation matrix (252d)

	AAOI	AAOI	AAOI	AAOI	AAOI	AAOI	CIEN	COHR	FN	LITE	ALAB	CRDO	ANET	SIVE
AAOI	·	·	·	·	·	·	0.50	0.61	0.53	0.60	0.40	0.36	0.36	-
AAOI	·	·	·	·	·	·	0.50	0.61	0.53	0.60	0.40	0.36	0.36	-
AAOI	·	·	·	·	·	·	0.50	0.61	0.53	0.60	0.40	0.36	0.36	-
AAOI	·	·	·	·	·	·	0.50	0.61	0.53	0.60	0.40	0.36	0.36	-
AAOI	·	·	·	·	·	·	0.50	0.61	0.53	0.60	0.40	0.36	0.36	-
AAOI	·	·	·	·	·	·	0.50	0.61	0.53	0.60	0.40	0.36	0.36	-
CIEN	0.50	0.50	0.50	0.50	0.50	0.50	·	0.69	0.67	0.67	0.44	0.41	0.44	-
COHR	0.61	0.61	0.61	0.61	0.61	0.61	0.69	·	0.71	0.75	0.46	0.43	0.40	-
FN	0.53	0.53	0.53	0.53	0.53	0.53	0.67	0.71	·	0.64	0.48	0.47	0.41	-
LITE	0.60	0.60	0.60	0.60	0.60	0.60	0.67	0.75	0.64	·	0.36	0.40	0.33	-
ALAB	0.40	0.40	0.40	0.40	0.40	0.40	0.44	0.46	0.48	0.36	·	0.64	0.50	-
CRDO	0.36	0.36	0.36	0.36	0.36	0.36	0.41	0.43	0.47	0.40	0.64	·	0.44	-
ANET	0.36	0.36	0.36	0.36	0.36	0.36	0.44	0.40	0.41	0.33	0.50	0.44	·	-
SIVE	-	-	-	-	-	-	-	-	-	-	-	-	-	·

Ticker order reflects hierarchical clustering assignment. Tighter green blocks on the diagonal = stronger sub-clusters within the bubble.

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Related bubbles· by shared members

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ETFs carrying the thesis

AIS
VistaShares Artificial Intelligence Supercycle ETF
VistaShares
$35M

Sub-clusters

Frequently asked questions

What are the top stocks in the Networking / Optical bubble?: QuantAbundancia maps 14 primary stocks to the Networking / Optical bubble: ANET, ALAB, AAOI, AAOI, AAOI, AAOI, AAOI, AAOI, CIEN, COHR, plus 4 more.
What ETFs carry the Networking / Optical thesis?: 1 ETF on QuantAbundancia carry the Networking / Optical thesis: AIS.
How correlated are Networking / Optical stocks?: The Networking / Optical bubble's primary members co-move with a 252-day average correlation of 0.50 across 28 pairs - decent co-movement.