On June 23, Fabrinet rose 5.21% in regular trading, trading at $603.63/share, with turnover of $211 million.

On the news front, the optical communication sector rallied broadly as indium phosphide (InP) capacity expansion news catalyzed renewed investor interest. Over 80% of current InP demand originates from AI data centers, and according to LightCounting data, InP represents the largest segment of the optical chip market, projected to reach approximately $6.9 billion by 2031. Industry peer Coherent recently broke ground on a facility expansion in Sherman, Texas, aimed at boosting 6-inch InP wafer production capacity for high-speed optical communication components.

Fabrinet had previously pulled back from approximately $679 to around $582 following cautious fiscal Q3 guidance and upstream component shortages constraining Datacom shipments. The current move reflects a gradual recovery of that oversold gap as sector tailwinds rebuild confidence in optical communication supply chain names.

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