Soitec Stock Is Up 100% Since We Called It. Do Q1 Earnings Justify The Hype?
Asymmetrical Bets
· Asymmetrical Bets
· July 24, 2026 at 14:57
· ⏱ 1 min read
| Read on Substack ↗
Summary
Soitec's Q1 FY2027 earnings confirm the photonics-SOI monopoly thesis laid out in March, with revenue beating guidance by 8pp and Photonics-SOI sales doubling YoY. The stock is up 22% on the print but still well below its €200 peak, and management's breakdown of CPO adoption waves validates the content multiplier thesis, suggesting further upside if data center optics transition continues.
•Soitec Q1 revenue hit €113M, up 23% YoY (constant currency), well above the company's 15% guidance.
•Photonics-SOI sales doubled YoY, driven by data center scale-out; management broke growth into three waves: telecom, current data center scale-out, and future CPO scale-up.
•CEO Laurent Rémont confirmed the CPO content multiplier mechanism (a CPO module consumes several times more Photonics-SOI wafer area than a standard pluggable transceiver).
•The stock had previously run 200% after the author's March video and has since pulled back from €200.50 to €117, giving a favorable entry relative to the validated thesis.
The article directly discusses Soitec's Q1 earnings beat, Photonics-SOI monopoly, and the CPO content multiplier mechanism — all confirming the bullish thesis. Although the author does not disclose a
The article directly discusses Soitec's Q1 earnings beat, Photonics-SOI monopoly, and the CPO content multiplier mechanism — all confirming the bullish thesis. Although the author does not disclose a current position, the stock's pullback and validated fundamentals create a potential asymmetric opportunity.
Risk: Customer concentration in data center optics; CPO adoption timeline may slip; competition from alternative photonic integration approaches (e.g., silicon photonics from others).
This newsletter, published July 24, 2026,
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discussing SOI.
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