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@FN solid

Datacom came in at $260 million — up 4% year over year, down 6% sequentially. I would say the decline is supply, not demand; shipments and revenue ran well below demand levels because of broadening shortages across lasers, memory, and certain ASICs — not any single part. A second EML source was approved last quarter, but the imbalance likely persists into the following quarter. Underlying demand, in our telling, remains exceptionally strong.

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FN / Datacom: supply, not demand