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The AI infrastructure trade is entering its middlegame.
Lumentum, Coherent, Cisco, and Applied Materials posted strong growth, yet the market responded with caution. Why? Because investors are no longer paying for flashy openings—they want proof that AI capex can become sustainable profits.
The question isn't who wins today's battle. It's who survives the endgame.
#AIInfraEarningsWatch
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