On September 14, Fabrinet declined 5.68% in regular trading, trading at approximately $392.97 per share, with turnover of $37.14 million. The sell-off was driven by a broad rout across the optical communication sector after major AI players collectively called for a slowdown in development pace.

On the news front, OpenAI announced it would not proceed with an IPO this year, further intensifying market fears over a potential deceleration in AI supply chain capital expenditure. The optical communication sector came under heavy selling pressure, with Corning falling over 6%, Coherent and Lumentum dropping over 5%, and Ciena declining nearly 5%. Storage and cloud computing service stocks also weakened sharply, with Silicon Motion down over 8% and CoreWeave and NEBIUS each falling over 6%.

Within the Electronic Manufacturing Services sector, the downturn was broadly felt. Celestica fell 7.21%, TTM Technologies declined 6.64%, Flex Ltd dropped 5.29%, Jabil Circuit lost 5.23%, and TE Connectivity slipped 2.99%. While Fabrinet's Q4 earnings released in August exceeded expectations with revenue of $1.316 billion representing 45% year-over-year growth, the stock had been trading at elevated valuations, amplifying pullback pressure amid sector-wide headwinds.

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