$HIMX

Does he own it?

No first-person ownership language anywhere. He explicitly says he found the HIMX thesis only slightly compelling and instead concentrated into SOI. HIMX appears only as a supply-chain map entry, an index-return line item, and a cautionary example. Later he flags it as having the highest design-out risk. Consistently coverage, not a holding.

His thesis

HIMX is framed as a possible TSM COUPE / CPO micro-lens and fiber-array supplier within his broader silicon-photonics theme. He acknowledges a mildly compelling chokepoint thesis but is skeptical the chokepoint is durable or revenue-material, repeatedly preferring purer plays like SOI, SIVE, and FOCI. He sees real near-term CPO/FAU demand but flags significant risk of being designed out or vertically integrated by TSM's optical arm.

How his view evolved

Started as a lightly compelling supply-chain name he passed on for SOI. After a ~31% drop he used it as a chokepoint cautionary lesson, then increasingly flagged design-out/vertical-integration risk while still citing its demand signals as supportive of his FOCI call.

Key points

• Explicitly preferred SOI and concentrated there instead of HIMX
• Used as a cautionary example: chokepoints can be designed out and may not convert to revenue
• Flagged as having the highest design-out / vertical-integration risk among CPO names

Derived from a holistic read of his public posts — paraphrased, never quoted. See his actual posts about $HIMX on X ↗