INSIDE THE SUPER CYCLE

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O N E T I N Y S T O C K T H A T C O U L D M A K E Y O U A N E S T E G G

INSIDE THE SUPER CYCLE

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It was January 2007…

Wearing his signature jeans and black turtleneck, Apple cofound-er Steve Jobs walked on stage in front of a crowded audience. It was Apple’s 2007 MacWorld conference.

Addressing the audience, Jobs said he was going to reveal a “rev-olutionary and magical product that is literally five years ahead of any other mobile phone.”

That device was – of course – the original iPhone.

The iPhone went on sale in June of that year. In the first weekend alone, as many as 700,000 iPhones were sold to eager customers. By the end of 2007, 1.4 million iPhones had been put into the hands of buyers. Time declared it the invention of the year.

In hindsight, it’s easy to recognize the signifi-cance of this event. The iPhone is arguably the most iconic consumer electronics product in his-tory. Today, roughly half of all smartphone users in the United States use an Apple iPhone.

And it is the iPhone – more than any other Apple product – that is chiefly responsible for Apple becoming one of the most valuable public com-panies in the world with a market capitalization above $2 trillion.

And, of course, investors in Apple have made an incredible return. Any investor who bought shares in Apple (AAPL) the month that Jobs revealed the original iPhone is now sitting on returns in excess of 3,500% as of this writing.

That’s an incredible return. But here’s what few investors understand.

Investing in Apple was not the only way to gain exposure to the revolutionary trends that the iP-hone unlocked. In short, the iPhone’s incredible success had “knock-on” effects for other tech-nology products and services. In the industry, this is sometimes referred to as the “Apple Super Cycle.”

I mention this because we are now at the early stages of the next “Apple Super Cycle.” And it

Inside the Super CycleOne Tiny Stock That Could Make You a Nest Egg

By Jeff Brown, Editor, Exponential Tech Investor

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represents one of the best invest-ing opportunities of this decade.

Investing in Exponential Growth

Welcome to Exponential Tech In-vestor. Here, we invest in small- and sometimes micro-capitaliza-tion technology companies on the verge of exponential growth. I’m your editor, Jeff Brown.

I’ve devoted my entire life to studying, working with, and investing in bleeding-edge tech-nology. I’ve worked as an execu-tive for international technology firms. Importantly, I’ve worked as an executive for both Qualcomm and NXP Semi-conductors. Both companies are key suppliers to Apple. So I’ve seen firsthand the impact the “Ap-ple Super Cycle” can have on technology stocks.

Today, I use my technology and investing exper-tise to help everyday investors profit from the best technology companies in the world.

In this report, I want to show readers everything I’ve learned about this super cycle and share one of the best investments we can make to gain exposure to it.

The Apple Super Cycle

At a high level, we can think of the “Apple Super Cycle” as the downstream effects that the iPhone – and other Apple products – have on technology companies that either supply components to Apple or operate in fields made possible by the Apple products.

For example, two of my favorite companies

linked directly with the production of the Apple iPhone are Skyworks Solutions (SWKS) and Tai-wan Semiconductor Manufacturing (TSM).

Skyworks produces what are known as “RF semiconductors” for the iPhone as well as other smartphones. At a high level, an RF semicon-ductor allows a mobile device to filter out “noise” and receive and transmit signals in a specific band of RF spectrum.

TSM is the world’s largest semiconductor found-ry. That means the company physically manufac-tures many of the microchips that go into the de-vices we use every day. And as we likely guessed, TSM produces many of the key components that go into the iPhone.

As the nearby chart shows, both companies have been excellent investments since the launch of the original iPhone.

Direct Apple suppliers are one beneficiary of the “Apple Super Cycle.” But there is another class of companies – those that benefited from the new world created by the iPhone.

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One example is Zynga (ZNGA). Zynga was founded in April of 2007 , only a few months after the reveal of the original iPhone. Most of us probably know Zynga as the company behind the popular mobile game “Words with Friends.” Today, the company is the No. 1 mobile gaming company in the world.

During its series A round in January 2008, Zynga was valued at just $17 million. Today, as a public company, Zynga boasts an enterprise valuation of $8.3 billion as of this writing. That represents a return of 48,700% for private inves-tors who have held on since the series A round.

Or consider Facebook.

We might not think of Facebook as a company that benefited from the creation of the iPhone. But we may be surprised to learn 79% of Face-book users interact with Facebook products exclusively through their mobile phones.

Were it not for the iPhone – and the subsequent smartphones it would inspire – Facebook would be a fraction of the company it is today.

But there was another element that contributed to the rapid adoption of Facebook applications on mobile devices.

And it is here where the story gets interesting…

A Network Upgrade

Please look at the image to the right.

I’d be willing to bet that anyone using an iPhone is using at least one of the services pictured – probably several of them. Each of those businesses is worth billions of dollars. Some are worth hundreds of billions.

But here’s what few know about these products.

It wasn’t possible to run any of these apps on a mobile device in 2007, back when the original iP-hone was launched. Why? At the time, the world was still relying on third-generation wireless technology (3G).

With an upgraded version of 3G, a user could expect download speeds of about 3.1 megabits per second (Mbps) – if they were lucky. The download speeds would fluctuate depending on the network infrastructure in a given geographic area. But the important point was that the world simply didn’t have the mobile bandwidth to sup-port these applications.

But that changed starting around 2010. It was during that time that the world began transi-tioning to fourth-generation wireless technology (4G). With 4G, peak speeds jumped to around 50 Mbps . I emphasize that these were “peak speeds.” Very few 4G users achieved 50 Mbps. Very often, download speeds were anywhere between 10 and 30 Mbps.

In this regard, 4G was a disappointment. But it was still reliable enough to support the applica-tions provided by the companies I showed below.

The newfound bandwidth from these networks led to an explosion of services that made our lives far more convenient than ever before…

On-demand “taxi” services popped up (Uber and

4G-Enabled a Multitrillion-Dollar Economy

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Lyft). Social media was available at the touch of a button on your smartphone (Facebook, LinkedIn, Twitter, and Instagram). Even shopping was pos-sible during a quick, five-minute break (Amazon).

Similarly, FaceTime and Skype video calls with friends and family weren’t possible over 3G networks. 4G enabled video calls, allowing us to “video chat” in real time with others.

It also enabled services like GoToMeeting, Zoom, and Webex. These videoconferencing services are useful for the business world, especially when team members are working at different locations. Many of us have become newly familiar with these apps during the pandemic, which led to a surge in remote work.

Because of 4G networks, businesses quickly turned to a “mobile-first” strategy. For instance, 75% of Facebook’s traffic and revenue comes from mobile phones. Half of all users of Spotify – the popular music streaming service – are “mo-bile only.” And 25% of all Amazon Prime orders originate from its mobile app.

Without a high-speed wireless connection with plenty of bandwidth, some of the biggest compa-nies in the world either wouldn’t exist or would be just a fraction of the size they are today.

This is the key point I want to emphasize. Mobile devices like the iPhone combined with 4G mobile bandwidth made all of these companies what they are today. Needless to say, this presented some of the best investing opportunities of the last decade.

And here is the important point for investors: This is about to happen again. And this time the super cycle is going to be significantly bigger.

A Revolutionary Upgrade

Times have changed in the 13 years since Steve

Jobs revealed the first iPhone. The technology enabling our devices has radically improved. After all, that first iPhone had no third-party apps. It topped out at 16 GB of flash memory. And it ran on second-generation (2G) networks. 2G limited those first iPhones to phone calls and basic text messages.

But now we’re anticipating the arrival of a new model, the iPhone 12, that will run on revolution-ary fifth-generation (5G) networks. And it is this new release which will be the “tipping point” for the next 5G-powered Apple Super Cycle.

You’ve likely heard of “5G.” Perhaps you’ve seen commercials on TV or read about 5G phones. 5G is one of the most revolutionary innovations of our time.

As I’ve presented in my research, 5G will be an av-erage of 100 times faster than current 4G speeds. Again, not 100% faster, but 100 times faster. Latency (delay) will drop by 99% from more than 100 milliseconds down to a mere 1 millisecond.

And my “boots on the ground” research bears this out. Recently, I visited Washington, D.C., to see fifth-generation networks in action. You can see the results for yourself below.

Just like 4G enabled a suite of new applications, 5G will unlock a host of new technologies that might seem like science fiction today.

One day soon, we will see fleets of self-driv-

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ing and remotely controlled semitrucks rolling down the high-way. Surgeons will operate on patients thousands of miles away by controlling robotic arms. And one day, we will “holo-commute” to work. A holographic projection of you will be “beamed in” to your next meeting. All of this is possi-ble thanks to the speed and low latency of 5G.

So where does Apple’s new iP-hone come in to all this?

The 5G Tipping Point

In 2020, more than 213 million 5G-enabled smartphones were sold. That was nearly 15% of all smartphone sales worldwide.

And 2021 looks to be even more impressive. In just the first quarter of 2021, 136 million 5G phones were sold.

Numbers like these are a clear sign that there is pent-up demand for 5G-enabled smartphones in the U.S. and other parts of the world. And, of course, the launch of Apple’s first 5G-enabled iPhone is a big part of that…

In 2021, there will be roughly 116 million iPhone users in the United States alone. And there are now one billion iPhone users globally.

And many of those users have been waiting for the iPhone 12 to upgrade their devices…

In fact, smartphone users in general have been waiting an average of roughly 34 months to upgrade to the latest models. Compare that to 2007, the year of the original iPhone. Back then, users replaced their smartphones every 19 months on average.

What caused this?

There just hasn’t been enough reason for consumers to upgrade their phones. The new phones just don’t do much more than the old phones. We have been waiting for something big… and that something is 5G.

And the 5G iPhone offers a lot to get excited about…

Apple’s iPhone 12 uses 5 nanometer (nm) semiconductors. These 5 nm chips are the bleeding edge of semiconductor manufacturing technology on the planet. In fact, Apple’s 5G-enabled smartphone is one of the only electronic devices using this technology. Apple literally bought up almost all of the manufacturing capacity for 5 nm semiconductor production.

And Apple is using advanced 3D sensors in its 5G phones.

It is already using the 3D sensors for facial recognition and early forms of augmented reality, but the 5G-enabled phones put the most

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advanced 3D-sensing technology on the rear side of the phone. That’s the “world-facing” side that the phone “looks at” when we hold it up to take a picture. In other words, it is a lens that will be used for augmented reality (AR).

The iPhone’s 3D sensors will map the user’s surroundings… and AR applications will overlay content. In other words, users will see the computer-generated content within the context of their surroundings.

And, of course, this jump into AR goes hand in hand with 5G. The high speeds and low latency of 5G are what make next-generation AR applications possible. Apple’s 5G phone will be a grand showcase for the technology.

These features are just a sample of what the 5G iPhone offers.

Apple’s success creates a ripple effect for technology, bringing it to mainstream attention… and this time, it will be a tipping point for 5G adoption.

The success of Apple’s iPhone will cascade down to the manufacturers – like semiconductor companies – as well as companies building new apps using 5G technology.

And that has great implications for our portfolio… because I’ve found a company with ties to Apple that is going to benefit from the coming boom of 5G iPhone orders.

Read on to find out all the details…

Recommendation: II-VI (IIVI)

To explain the importance of this company, we’re going to be discussing a key aspect of the 5G wireless network build-out. As I said above, 5G is the next generation in the evolution of

wireless networks. The technology can deliver data download speeds an average of 100 times faster than what we have today. It will enable us to experience technology that was once in the realm of science fiction – like self-driving cars or holographic telepresence.

And this company will be a key supplier of essential components in the 5G age. But before we get to that, here’s just a bit more background on the technology underlying our smartphones…

Alexander Graham Bell was far ahead of his time not just for the telephone. He also developed a technology called the “photophone.” It was the first demonstration of what we know of today as optical communications. It proved that speech could be transmitted on a beam of light.

But nearly a century passed before this invention could be put to practical use. Still, it is no surprise that Bell said, “I regard the photophone as the greatest invention I have ever made, greater than the telephone.”

He literally foresaw both the wireless transmission of phone calls and the transmission of voice over light at a time when a phone call over copper wires was leading-edge technology. Impressive.

The employment of fiber optics in the 1970s was revolutionary for the world. In terms of efficiency and speed, nothing beats data communications over light. For readers who might not be familiar, fiber-optic cables are flexible, very pure strands (cables) of glass over which light is transmitted. And just like Bell envisioned, fiber-optic communications networks transmit voice and data at near-instantaneous speeds.

It wasn’t an easy process to deploy fiber-optic technology. It was expensive, and many key components for optical networks had to be developed.

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First, the optical networks in the 1980s and 1990s were not flexible. It was as if the transmission bandwidth had to be hard-wired when the system was deployed. It wasn’t possible to change the configuration of the network without taking the whole network down.

Second, there was no way to configure the optical network remotely. The only way was to physically “turn off,” remove, and replace equipment.

Third, the initial fiber-optic networks also transmitted voice and data over one wavelength of light. Only one wavelength of light could be sent over an individual fiber-optic cable… which was not very efficient.

This meant that fiber-optic networks became congested quickly. It also meant that they were expensive to build and monetize.

It wasn’t until the 2000s that things really started to get exciting. There were two exciting developments that were fundamental to how voice and data are transmitted today.

The Revolution in Fiber-Optic Networks

The first innovation was wavelength division multiplexing (WDM). It might sound complex, but it really isn’t. WDM technology simply uses different wavelengths (different colors) of light to transmit data over the same fiber-optic cable.

The first WDM systems employed just two wavelengths, but today, the use of hundreds of different wavelengths has radically increased the capacity of transmission by more than a hundredfold.

Simply put, more than 100 times the data throughput for each fiber-optic strand became possible. WDM immediately helped alleviate

network congestion because it enabled such a large increase in data throughput. (Throughput is the maximum rate at which something can be processed.)

The second innovation was vertical-cavity surface-emitting lasers (VCSEL – pronounced “vixil”). Historically, light-emitting diodes (LED) were used to emit light… the same light used to transmit voice and data over fiber. Today, VCSELs have mostly replaced LEDs due to improved performance and spectral efficiency. VCSELs work particularly well with WDM technology.

These technological developments in laser and fiber-optic transmission technology led to one of the most important technology components for optical communications and the fifth-generation (5G) wireless network build-out: reconfigurable optical add-drop multiplexers, otherwise known as ROADMs.

And II-VI Incorporated (IIVI), pronounced “two-six,” has been strategically positioning itself to be one of the key suppliers of companies that manufacture ROADM products as well as VCSELs for optical communications networks and other critical 5G network applications that I’ll get to in a moment.

The Exponential Growth of Data Traffic

So what is it about these ROADMs that makes them so critical? The simplest way to put it is that ROADMs make fiber-optic networks that can be configured remotely. ROADMs enable configuration and reconfiguration from anywhere. Even better, the configuration can take place without having any negative effect on the existing traffic over the network.

Remember, early fiber-optic lines had to be

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updated and reconfigured manually, which also meant the fiber-optic lines would be out of commission while the reconfiguration was happening. Obviously, this was inconvenient for anybody who relied on those lines for data transmissions.

ROADM technology also maximizes the amount of data that can be transmitted over a single strand of fiber. This is critical for two reasons. One, the cost of laying fiber is expensive whether it is in the ground, on a pole, or across an ocean. It is important to maximize utilization. Second, the sheer exponential growth of data transmitted over these networks is almost impossible to keep up with.

The amount of voice traffic was roughly constant over the last five years, but data use has been exploding. Exabytes of data are used every month in ever increasing numbers.

What’s an exabyte? One exabyte is equivalent to 100,000 times all the printed material in the Library of Congress. It is hard for us to get our heads around how much information that is.

Much easier to understand, however, is the rate of the growth year over year. As of Q1 2021, total traffic exceeded 60 exabytes of data every month, a 46% increase from Q1 2020.

When we see numbers and growth like this, it is easy to understand the absolute necessity of both new infrastructure and advanced technologies like ROADM, which allow fiber-optic lines to be utilized to their highest potential.

And that’s where II-VI comes in…

A Series of Strategic Acquisitions

II-VI obviously saw this coming, and through a series of strategic acquisitions, it has positioned itself as a powerhouse supplier to key manufacturers of these products.

Example Image of a ROADM Line Card

Source: II-VI Investor Presentation, August 2018, Slide 9

II-VI’s strategy has been to provide a larger per-centage of the key components that are used in ROADM line cards. We can loosely think of these line cards like the motherboard of our personal

Global Growth of Mobile Data Traffic

Total Traffic (in Exabytes)

20

40

60

80As of Q1 2020, total traffic exceeds 60 exabytes of data per month

Source: Ericsson

0Q1’16

Q2 Q3 Q4 Q1’18

Q4 Q1’17

Q2 Q3 Q2 Q3

Voice Data

Q4 Q1’19

Q2 Q3 Q3Q4 Q1’20

Q4 Q1’21

Q2

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computers. Their functions are different, but both are self-contained computing systems with a specific application.

These line cards are sold in large quantities… in the hundreds, thousands, and sometimes tens of thousands. They are slotted into a larger frame-work that is integrated as part of the optical transmission equipment.

The products listed on the right side of the line card in the previous image are the components that II-VI is providing to manufacturers of ROADM products.

And one of the reasons that II-VI caught my attention was the series of smart acquisitions the company made…

In June 2017, II-VI acquired an optoelectronics product company called Integrated Photonics for $45 million. Integrated Photonics focused on magneto-optic materials used in optical trans-ceivers and amplifiers.

Prior to that, in March 2016, II-VI purchased semiconductor company ANADIGICS, a finan-cially troubled company that still had some strong assets. The deal was done for $78.2 million and was received with skepticism at the time.

Yet months later in June, the strategy was re-vealed. II-VI sold off a group of assets acquired through ANADIGICS for $50 million and retained the fabrication plant used for producing VCSELs.

The II-VI management team clearly already had a buyer lined up for these assets. Otherwise, the deal wouldn’t have happened so quickly. This two-step deal enabled II-VI to pick up a manufacturing facility to expand its VCSEL production, one of its most strategic products, for just $28.2 million.

II-VI is now one of the top producers of VC-SEL products for both optical communications networks (necessary for the 5G infrastructure build-out) and for 3D-sensing applications in mobile devices that will become standard in 5G-enabled smartphones.

Around that same time, in February 2016, II-VI acquired another company – EpiWorks. It paid $49 million to gain access to EpiWorks’ manu-facturing facility of semiconductor materials – specifically the wafers – which are the material foundation of semiconductors. I’ll return to the strategic importance of this deal a bit later.

And to top things off, September 2018, II-VI com-pleted the acquisition of another leading optical components company, CoAdna Holdings, for a net price of $45 million. CoAdna is a great comple-ment to II-VI, as its wavelength selective switches (WSS) are a key component used in ROADMs.

All said, II-VI’s current complement of optical components enables it to sell anywhere between 20–40% of the total bill of materials in any ROADM product.

Some investors might be wondering, why have I gone to the trouble of understanding and high-lighting these acquisitions?

There are two primary reasons. First, some of the most innovative, exciting small technology com-panies can end up in the hands of larger, publicly traded companies. I always like to see where those assets land and if the acquirer knows how to leverage those acquired assets. In this case, II-VI very obviously does know how to make good use of its acquisitions.

Second, digging into this kind of acquisition strategy provides insights into how the man-agement team is thinking and building out the

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company’s product portfolio. Is it piecemeal? Opportunistic? Or is there a logic to it? How do these acquisitions position the company for future growth?

To give a perfect example, II-VI is a leading sup-plier worldwide of silicon carbide (SiC) wafers. We can think of a wafer almost like a completely plain pizza crust. It’s basically flat, with nothing on it. The actual semiconductors are etched into the wafers. The larger the wafer, the more semicon-ductors that can be produced on a single wafer.

And just like a pizza, once all the toppings have been added and it has been cooked, the wafers are cut up into individual pieces (semiconductors).

II-VI acquired ANADIGICS’ Pine Brook, New Jersey, and Starkville, Mississippi, development and manufacturing facilities to expand its capa-bilities in SiC wafer manufacturing. The same is true of its EpiWorks acquisition. SiC is critically important to the world of wireless technology.

Don’t worry about all the details. Here’s what’s really important: II-VI is not making these acqui-sitions randomly without a larger plan. It knows precisely what it’s doing. By acquiring companies that are essential to producing ROADMs as well as SiC wafers, it is positioning itself to be a ma-jor supplier for essential components for the 5G infrastructure build-out.

And there’s one more key acquisition that I want to highlight… one that is very critical for the roll-out of the 5G iPhone.

Acquiring an Essential Apple Supplier

In November 2018, II-VI announced the acqui-sition of a very important company, Finisar, for

The Importance of SiC Semiconductor Components

I see II-VI’s SiC wafers as complementary to our position in MACOM Technology Solutions (MTSI), another Exponential Tech Investor portfolio recommendation. SiC wafers can be used to manufacture gallium nitride (GaN) power semiconductors. Again, we can think of the wafer as the foundational material upon which the GaN semiconductors are produced… kind of like the crust of a pizza.

Depending on the specific wireless frequency being used, semiconductors made from SiC will be widely used in the 5G wireless network infrastructure build-out. We can think of II-VI’s positioning as a pick-and-shovel play, providing the advanced materials necessary for the global infrastructure build-out.

And in certain applications, where heat management is more important, SiC outperforms GaN by a factor of about 3.8. For example, when 5G wireless towers are built with high power transmitters operating at high frequencies, there is no better material than GaN.

However, for applications that need to support high power but not at high frequencies… and need to manage heat more efficiently… SiC is the best choice. And a perfect example of that is the use of SiC power semiconductors for electric vehicles (EVs) and hybrid electric vehicles (HEVs).

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$3.2 billion. One of Finisar’s key product areas was VCSELs for 3D-sensing applications.

Finisar was arguably the only real competition to Lumentum (another holding in our Expo-nential Tech portfolio) in this area… but Finisar had been struggling with both product yield and production volumes.

So why was this particular acquisition so im-portant?

Finisar supplied critical components to Apple.

In 2017, the year prior to the acquisition, Finisar received a $390 million investment from Ap-ple to fund manufacturing capacity and quality improvements at Finisar’s U.S.-based manufac-turing plant. That’s right. Apple actually paid Finisar to produce and guarantee supply of a key component for its smartphones.

And that’s precisely what II-VI bought. It bought a major chunk of business with Apple that is guaranteed for years to come… And by doing so, it gained the ability to sell other products to Apple as well.

II-VI also gets a U.S.-based manufacturing facility, free of any trade issues with China, where it can manufacture its leading products domestically.

And those 3D sensing capabilities that Finisar enables?

In addition to things like Apple’s facial recognition, these sensors will help provide the needed push for Apple’s augmented reality (AR) ambitions.

The company rolled out its ARKit in the summer of 2017, and it has come a long way since then. Apple already enabled retailers to offer an AR preview of their products so shoppers could see how a product would look in a real-world space.

But as of February 2020, those retailers can also add a new button into that AR preview to let a customer immediately buy that product using Apple Pay, as an example.

And I’ve written about Apple’s goal of creating AR glasses many times. These would be glasses that will overlay information or graphics on the real world. It could help professionals like me-chanics do their jobs better by displaying sche-matics over an engine… or enable everyday users to watch videos or check email without having to use their phone.

And this is only the beginning of the AR revo-lution. As Apple CEO Tim Cook put it, “I don’t think there is any sector or industry that will be untouched by AR.”

Here’s the bottom line: By investing in IIVI, we gain exposure to an incredible 5G company and a company with direct exposure to Apple’s new iPhone. Incredible.

We’re in the Middle of the 5G Rollout

II-VI is uniquely positioned to benefit from Phase 1 of the 5G wireless network build-out. For new-er readers, Phase 1 is the expansion of physical infrastructure. I’m talking about new 5G wireless towers and fiber-optic networks that will be the core of the new 5G networks. While a lot of prog-ress has been made on this front, there’s still a long way to go before this build-out is complete.

And II-VI’s products are vital to the optical networks and lasers that enable the exponential growth in data traffic around the world.

In addition to the lasers and optical communi-cations, II-VI will benefit from selling the SiC wafers used to produce power semiconductors for wireless towers.

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And the 3D-sensing VCSEL products will be a standard for 5G phones in Phase 2 (5G devices) of the build-out, which began in 2019 with the release of some of the first 5G phones. And II-VI’s products will exist in every single Apple iPhone 12 that’s released.

These are II-VI’s highest growth markets.

So to sum it all up, II-VI is positioned to profit on several fronts…

Ultimately, we have a fantastic opportunity to es-tablish a position in a great company that is going to receive huge tailwinds from the 5G iPhone.

Action to Take: For our current buy-up-to price for II-VI (IIVI), please see our online model portfolio.

Risk Management: I recommend holding this recommendation without a stop loss for the time being. So let’s remember to keep our position sizing rational. Small-cap stocks can be volatile. And remember, I never recommend going “all in” on any one investment.

Note: If this stock is trading above our recommended buy price at the time of reading, my official recommendation is patience. Technology stocks experience natural volatility that almost always gives us a great entry point. I want to make sure readers invest in the best companies at a great price.

Regards,

Jeff Brown Editor, Exponential Tech Investor

To contact us, call toll free Domestic/International: 1-888-512-0726, Mon-Fri: 9am-5pm ET or email [email protected].

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