MaxLinear's post-earnings reaction looks like an overreaction to solid growth. Q2 revenue rose 55% to $168.8M, infrastructure grew 145%, and adjusted operating margin expanded to 22.3% from 15.9%. Q3 guidance of $210-220M implies another ~27% sequential jump, 2026 optical data-center revenue guidance was raised again to $190-210M from $150-170M, and 1.6T products are in customer qualification. x.com 

MaxLinear's AI optics ramp is now confirmed in its results and guidance. Q2 revenue rose 55% to $168.8M, beating estimates, operating margin jumped to 22.3% from 7.2%, and infrastructure grew 145% on optical AI data-center adoption. Q3 guidance of $210-220M implies 27% sequential growth. Keystone is ramping for 800G optics at hyperscale data centers, with 1.6T next, and a $19.7M inventory build suggests orders are already visible. x.com 

MaxLinear's optical data center business has hit an inflection point, and the stock could reach $70-80 this year. Q1 EPS of 22 cents beat the 18-cent consensus and revenue of $137.2M topped estimates, up 43% year over year as infrastructure grew over 130% to become its largest market. The CEO called Q1 the start of a multi-year growth phase, with a step-function revenue increase expected in Q2 from optical ramps at multiple hyperscale customers. x.com  x.com 

MaxLinear's planned 1.6T AEC entry is too distant to justify the scale of Credo's selloff. Credo still has an estimated 90%+ AEC share and relationships with five of six major hyperscalers; MaxLinear expects initial revenue only in 2027 and a more meaningful ramp in 2028. Competition bears watching, but the market looks to be overreacting and Credo is starting to look ridiculously cheap. x.com  x.com 

MaxLinear is being repriced as a scale-up play: it is one of only three companies, with Marvell and Broadcom, making DSPs for 1.6T optical interconnects, yet is worth about $2B against their $50B+. Its Keystone DSP ships to multiple hyperscalers at 400G and 800G, and its Annapurna platform adds 1.6T AEC and 3.2T retimers for scale-up. Infrastructure revenue grew 130%, revenue is projected at $630M by 2028 from about $200M, and Applied Optoelectronics' 800G and 1.6T ramp needs DSPs. x.com 

MaxLinear is one of only three makers of DSPs for 1.6T optical interconnects alongside $50B+ giants Marvell and Broadcom, yet is worth only about $8-9B. Per @BryzonX, it alone has secured fab capacity to mass-produce 1.6T from 2H26 through 2H27, and its DSPs have a 30% energy advantage. Marvell trades at roughly 32x sales; the same multiple on MaxLinear's $468M trailing revenue gives about $15 billion, nearly double, and more if revenue inflects hard on 1.6T. x.com  x.com  x.com 

MaxLinear still looks cheap relative to its expected EPS growth over the next 12-18 months. Fundamentals are very impressive, with revenue growth accelerating year over year and margins expanding. x.com 

Rising 1.6T switching demand favors optical suppliers, though their execution risks vary. Bank of America says the market could grow ~101% annually through 2030. Marvell's leading DSPs and Lumentum's supply-short 200G EML lasers are lowest risk; Applied Optoelectronics' capacity expansion and Fabrinet's customer concentration make them medium risk. Aeluma remains pre-commercial, while Lightwave Logic's polymer modulators are a high-risk moonshot despite its TSM partnership. x.com 

MaxLinear's earnings are expected to grow more than tenfold as data centers need more high-speed connectivity. Its chips move data between CPUs, GPUs, servers and switches, and EPS is expected to rise from $0.31 in 2025 to $3.31 by 2028. Technically, the stock is breaking out of a base and resuming its Stage 2 uptrend. x.com 

Broadcom's diverse networking exposure makes it one of the best positioned in the theme. The market has overlooked it year to date. Optical DSPs, Tomahawk and Jericho underpin the view; Tomahawk 6/7 ramps in 2027, and Tomahawk Ultra and optical DSPs should accelerate growth. New XPU customers and extended hyperscaler deals add to earnings upside and an eventual re-rating. Risks remain, and weak semiconductor flows warrant caution about calling a bottom. x.com