Westlake International has provided timely insights into key drivers affecting the semiconductor and Asian technology supply chains, as well as Chinese sectors and companies, since its founding in 2008. We continue to provide our clients with a wide array of primary research, including limited distribution semiconductor and China Internet research reports, custom research/survey and field check services across a wide variety of verticals and specialties.
With a fundamental research approach, our primary research uncovers industry dynamics and reaches investment conclusions by utilizing our survey data, various 3rd-party data and expert feedback. These research and services seamlessly package:
- Selection of meticulously chosen technology and Internet industry professionals from both compliance and industry experience perspectives
- Constantly updated / legally compliant list of pertinent industry questions
- Consultations with survey participants to flesh out qualitative issues around meaningful trends
- Screen and applications of most relevant 3rd party data for investment themes and pressing issues of covered companies
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Our Latest Reports
Optical semi: TSEM 2Q/3Q revenue tracking ahead, NPO ramp from 2H27, ’28 model raised +27%/+60%
Based on our primary research, demand for TSEM’s SiPho products remains robust and capacity-constrained. We see potential for a 2Q beat and a 3Q raise, despite likely softness in RF-SOI. TSEM is well positioned to benefit from strong SiPho transceiver demand, with high-speed pluggables remaining the core growth driver over the coming years, while NPO from 2H27 and CPO from ’28+ provide incremental upside.
Optical semi (COHR,LITE,AVGO,TSEM): 800G/1.6T strength, NPO/CPO ramp, ~7X InP laser demand by ’28 without oversupply in sight Jul 2026
Westlake’s primary research points to robust NT demand for InP lasers & optical transceivers, with InP laser demand growth accelerating as optical intensity rises across pluggables, CPO/ELS/NPO & DCI, countering investor concerns about oversupply beyond ’27. We remain positive on LITE, COHR, AVGO, TSEM, Source Photonics & Yuanjie Semi…
Server & optical semi: AVGO AI & MRVL Data Center tracking ahead of Apr/Jul quarter revenue estimates May 2026
AVGO & MRVL see very strong demand for merchant networking ASICs including switching chipsets & DCI solutions driven by AI networks (& telecom for DCI). AVGO’s ASIC biz is seeing strong TPU v7 ramp, while MRVL’s Trainium 2 & 2.5 volumes are likely tracking ahead of expectations.
Server semi: NVDA F1Q27 & F2Q27 DC Rev tracking above Street with solid beat potential May 2026
We see NVDA’s Data Center revenue for F1Q27 & F2Q27 tracking ahead of Street estimates, positioning the company for a solid beat, driven by a robust GB200/GB300 ramp and continued networking momentum.
Handset semi (QCOM,QRVO,SWKS,MTK): high-end solid, low-/mid-end deteriorates further in Mar & Apr 2026
Based on the feedback from 12 handset OEM experts, premium phones outperformed in a stagnant market in 1Q, but low- and mid-end phone demand deteriorated further in Mar & Apr. QCOM, SWKS, and QRVO could guide more cautiously when they report in the coming weeks.