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Fabrinet partners with AWS to enhance AI infrastructure and expand market share
Barclays has reaffirmed its Equalweight rating for Fabrinet with a price target of $245, highlighting the company's new partnership with Amazon Web Services (AWS) for AI infrastructure projects. This collaboration positions Fabrinet to capture market share as AWS seeks to reduce reliance on certain suppliers amid geopolitical concerns. CEO Seamus Grady noted the potential for significant revenue growth, supported by Fabrinet's cost-effective manufacturing capabilities and plans to expand revenue capacity by $2.4 billion within 16 to 18 months.
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