Greater China Technology Hardware: Global AI Transceivers: Industry Demand Likely to be Even Stronger

Research evidence excerpt

Greater China Technology Hardware: Global AI Transceivers: Industry Demand Likely to be Even Stronger

Global Idea

May 14, 2026 09:00 PM GMT

Morgan Stanley Asia Limited+MGreater China Technology Hardware Andy Meng, CFA

Equity Analyst

Global AI Transceivers: Industry Andy.Meng@morganstanley.comMorgan Stanley & Co. LLC +852 2239-7689

Meta A Marshall

Equity AnalystDemand Likely to be Even Meta.Marshall@morganstanley.com +1 212 761-0430

Antonio Jaramillo

Research AssociateStronger

Antonio.Jaramillo@morganstanley.com +1 212 761-4438

Morgan Stanley Asia Limited+

What’s Changed Betty Chen

Accelink Technologies Co. Ltd. (002281.SZ) From To Research Associate

Betty.H.Chen@morganstanley.com +852 2239-7213

Price Target Rmb60.00 Rmb166.00

Morgan Stanley Taiwan Limited+

Eoptolink Technology Inc Ltd (300502.SZ)

Sharon Shih

Price Target Rmb460.00 Rmb710.00

With demand visibility strengthening materially in recent Sharon.Shih@morganstanley.com +886 2 2730-2865

months, we raise our 2026-28 AI transceiver shipment forecasts Derrick Yang

Derrick.Yang@morganstanley.com +886 2 2730-2862and reiterate our positive view on the industry.

Howard Kao

Key Takeaways Howard.Kao@morganstanley.com +886 2 2730-2989

Samantha Chen

Our US team recently raised its PTs on Lumentum to US$900 and Coherent to Research Associate

US$330. Samantha.Chen@morganstanley.com +886 2 2730-2876

We reiterate our OW rating on Eoptolink and raise our PT to Rmb710. Morgan Stanley & Co. International plc+

Nigel van Putten

Demand/visibility has strengthened materially, led by Lumentum: In April 2026, Nigel.Putten@morganstanley.com +44 20 7425-2803

Lumentum’s CEO said hyperscaler demand is accelerating so quickly that the Terence Tsui

company could be “sold out through 2028” within two quarters. The company Equity Analyst