14 AI News Updates Wall Street Is Monitoring

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12. Fabrinet (NYSE:FN)

Number of Hedge Fund Holders: 42

Fabrinet (NYSE:FN) offers optical packaging, along with precision optical, electro-mechanical, and electronic manufacturing services. The company produces fiber-optic cables that power telecommunications, AI data centers, and the global Internet infrastructure. On November 20, B Riley downgraded the stock to Sell from Neutral with a price target of $178, down from $194. The advisory believes the trend of unbundling Nvidia’s GPU platforms will adversely impact Fabrinet’s optics business. The change won’t impact Nvidia’s GPU business but will impact Nvidia’s optics business, contends Riley.

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