業種

Optical Communications Manufacturing (Optical Module Foundry)

Optical Communications Manufacturing (Optical Module Foundry) のすべてのレポート — 全 1 件。

46/100 73Buffett Watch Fabrinet Zen Horizon Framework Deep-Dive Research Fabrinet (FN.US) is the hidden-champion contract manufacturer behind optical interconnects for AI data centers. As the world's largest independent precision optical EMS provider, it builds 800G/1.6T optical transceivers and optical components for NVIDIA (27.6% of FY2025 revenue), Cisco, Lumentum, Coherent, Ciena, and others, making it a picks-and-shovels foundry for AI compute networks, while its contract-manufacturing model structurally caps gross margin at about 12%, leaves it cost-plus with almost no pricing power, and makes optical communications 73% of revenue. Rating Watch: a high-quality execution story with strong AI exposure, but thin margins, customer concentration, CPO disintermediation risk, and a rich valuation argue for patience. FabrinetFN · 米国株Optical Communications Manufacturing (Optical Module Foundry)2026年6月8日