30 Best AI Stocks to Buy According to Billionaires

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29. Fabrinet (NYSE:FN)

Number of Hedge Fund Holders: 36

Number of Billionaire Investors: 9

Value of Billionaire Holdings: $140 Million 

Fabrinet (NYSE:FN) offers optical packaging, along with precision optical, electro-mechanical, and electronic manufacturing services. Even though the company is invested in the AI supply chain through services for several semiconductor manufacturers, it is more famous for being the optical cable supplier to AI powerhouse NVIDIA. In earnings for the second fiscal quarter, the firm delivered adjusted earnings per share of $2.61, exceeding the consensus estimate of $2.50. Revenue rose 17% year-over-year to $833.6 million, beating forecasts of $813.86 million. Following the earnings report, Needham analysts led by Ryan Koontz maintained a Buy rating and a price target of $280 on the shares, noting that even with Datacom not expected to rebound in F3Q, guidance impressed on expected continued strength in Telecom.

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