Himax Technologies (HIMX)
Published 2026-03-17 • by fundaai
Thesis Summary
The author contests the bullish CPO (Co-Packaged Optics) narrative for HIMX, arguing that their strategic partner FOCI has lost market share and commercial momentum to competitor Suzhou TFC.
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Detailed Deep Dive
HIMX - where we disagree with Citrini.Citrini put out an excellent report, and we agree with most of it. Our ad was on the Himax bull case. FOCI, Himax’s strategic partner, has been outmaneuvered by Suzhou TFC in commercial execution within the CPO supply chain. This matters for anyone building a Himax position based on the CPO FAU narrative.