Barclays Analyst Highlights Continued Telecom Strength for Fabrinet (NYSE:FN)
In an investor note, the analyst noted that the company reported solid fiscal Q3 results, though they were overshadowed by softer Datacom despite continued Telecom strength.
The advisory sensed that the 1.6T cycle timing was slightly shifted to the right or at a minimum came with great uncertainty when the cycle started.
An automated assembly line displaying the advanced packaging technology used by the company.
While disclosing earnings for the third fiscal quarter, the firm provided guidance for the fourth fiscal quarter, with revenue expected between $860 million and $900 million and non-GAAP earnings per share of $2.55 to $2.70. CEO Grady expressed optimism about continued growth in Telecom and Automotive segments, while highlighting potential moderation in Automotive growth due to prior outsized performance.
While we acknowledge the potential of FN, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FN and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 33 Most Important AI Companies You Should Pay Attention To and 30 Best AI Stocks to Buy According to Billionaires
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