LEDC Mizyhe reports: Richard Shannon, senior analyst at Northland Securities Inc., recently published an analysis report on AXT's optoelectronics business. He believes that in the next few years, as the optoelectronics market such as wireless and solar/CPV becomes a new growth trend, AXT The potential market total (TAM) growth rate exceeds 20%. AXT is a manufacturer of GaAs, InP, germanium substrates and raw materials.
The GaAs business accounts for 75% of AXT's total business volume, of which 33% of GaAs revenue comes from the semiconductor GaAs business, mainly used in the photovoltaic field, mainly including LEDs, but laser diodes and sensors also show solid growth. The company believes that the total potential sales of AXT's SC GaAs will increase at a rate of 15-20% annually (currently at least $4.9 billion).
Recent research and company management's speeches indicate that the gross margin of some optoelectronic applications today may meet or exceed the company's average. Especially high-brightness LEDs and laser diodes bring great benefits and will continue to strive for a higher market share for AXT.
Now many investors are looking at TV and NB displays with LED backlights, and it will show a strong growth trend in the next few years. There are currently two types of LED backlights, direct and side-fire; the former produces white light from RGB LED direct LCD screens (where AXT supplies red LEDs, which is the opportunity for AXT), the latter is placed on the side A white LED (without GaAs) panel is reflected through the mirror onto each pixel. Side-fired LCD TVs are becoming more popular due to lower cost and thinness.
In the automotive market, some high-end cars installed dashboards, taillights (using GaAs red LEDs) and taillights for LEDs, Germany OSRAM OS has been one of AXT's top ten customers.
In addition, AXT has a small portion of its business serving low-power LEDs, but its gross margin is less than the average of AXT.
In short, AXT is active in the optoelectronics market. In the next few years, the LED market will increase at a rate of 25%, and the AXT business will move forward with a growth rate of 15-20%. (LEDC Mizyhe compiled)
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