From GPU to shovel sellers: Deutsche Bank Aktiengesellschaft covers the AI hardware sector for the first time, with laser giants Lumentum (LITE.US) and Coherent (COHR.US) both receiving buy ratings.

Deutsche Bank Aktiengesellschaft recently officially covered the AI hardware sector and proposed a core proposition: what is the real necessity in todays era of artificial intelligence? The bank's analyst Gianmarco Conti pointed out in the report: As digital residents of 2026, we consume Beijing Vastdata Technologywe do not delete photos or videos from our devices, we do not reject new technologies, nor do we refuse convenience. Whether presented in the form of chat Siasun Robot & Automation, enterprise-level intelligent agent clusters, or 'atmospheric programming' tools, AI is making our lives more convenient. Conti emphasized that this convenience directly translates into time savings and a comprehensive improvement in productivity across various areas of life. For investors in the technology sector, the market focus is gradually shifting from GPUs to structural opportunities in CPUs and other efficient computing layers, spawning a series of shovel-selling hardware investment targets. Deutsche Bank Aktiengesellschaft has the highest confidence in five stocks rated "Buy": Lumentum Holdings (LITE.US) and Coherent (COHR.US) both received "Buy" ratings. Conti pointed out that whether the AI architecture adopts a pluggable solution or co-packaged optics (CPO) technology, their laser devices are indispensable core components. Both companies are in a state of constrained supply, sold-out capacities, and continuous price increases, with NVIDIA Corporation (NVDA.US) having invested $2 billion in each, Conti emphasized. Arista Networks (ANET.US) also received a "Buy" rating. The bank believes that Aristas software premium still holds a moat advantage in the enterprise-level and sovereign AI sectors, which is precisely its core sales market. The company guides for 40% revenue growth while having strong free cash flow, and its current valuation has yet to fully reflect this outlook. Cisco Systems, Inc. (CSCO.US) also received a "Buy" rating. Conti stated that Cisco Systems, Inc. integrates chips, optical devices, and systems, holding $9.3 billion in ultra-large-scale AI orders, making it a low-risk choice for participating in AI transformation. Hewlett Packard Enterprise Co. (HPE.US) is rated fifth among the stocks receiving a "Buy" rating. Meanwhile, Deutsche Bank Aktiengesellschaft gave "Neutral" ratings to A10 Networks (ATEN.US), Dell Technologies, Inc. Class C (DELL.US), and Ingram Micro (INGM.US).