UNITED STATES SHARE COHR VERSUS LITE: THE INCOME GAP IS NARROWING RAPIDLY AND THE LITE PROFIT ELASTICITY AND DENSITY ARE BETTER

According to the news of August 14, the difference in the location of the analyst qimbafrank compared to the two principals of the U.S. luminary interconnectivity plate, Coherent (COHR) and Lumentum (LITE), which determine different investment logics: Coherent is the size and platform of the U.S. photo industry, with the advantage of size, product breadth, manufacturing platform, and long-term technology warehouse and customer coverage; Lumentum is the more profitable and profitable head of the AI Optical Value Pool, which clearly leads in terms of speed increase, Maori rates, operating leverage, current quality and net liquidity. The volume gap between the two heads is narrowing rapidly - Corhent's income was 2.36 times that of Lumentum throughout fiscal year 2026, which fell to 2.03 in the fourth quarter of fiscal year 2026, while the midpoint of the first quarter of financial year 2027 was further narrowed to 1.84. According to the midpoint of the guidelines for the next quarter, Coherent ' s income is about 1.84 times that of Lumentum, but implies that the Non-GAAP ' s operating profits are only about 1.04 times; and with about 2.03 times the quarterly revenues, Coherent produces only about 1.62 times that of Lumentum ' s gross profits, 1.21 times that of business and 1.08 times that of net profits. This set of comparisons clearly shows that Lumentum significantly outperformed Coherent in terms of the quality of the profits and the leverage of the operations, while the gap between the income and the scale of the profits is rapidly narrowing。