This stock is seen as Nvidia's 'little brother'
) business sets up the company for “a long runway of future growth” though they believe the stock already reflects the bullish scenario.
Fabrinet, which Jefferies calls “Nvidia’s little brother” is a contract manufacturer specializing in optical communications solutions. They expect Fabrinet’s business with Nvidia to increase from an estimated $990 million in 2024 to $1.4 billion in 2025. According to their calculations, Nvidia would only need to capture 25% of the back-end GPU transceiver market for Fabrinet to meet this target.
“Fabrinet would have to ramp manufacturing – including Building 10 – to achieve this. This would be several years away if it happens, but our upside scenario translates into over $13/share in EPS power,” they wrote.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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