Translating Market Shifts into Actionable Insights, Aurelion Research

Aurelion Research

Translating Market Shifts into Actionable Insights

Aurelion Research is an independent investment research firm. We provide ongoing coverage of global equities, commodities, and investment themes, translating market shifts into actionable insights. Our independent analysis is relied upon by leading asset managers, institutions, and individual investors worldwide.

Equity Bottom-Up

<ul><li>In this piece, we examine where optics and photonics are heading, combining our industry work with conversations with management at Fabrinet (NYSE: FN) and Ciena (NYSE: CIEN).</li><li>Both companies are crucial players in the optical ecosystem, but they operate at very different points in the value chain.</li><li>This piece does not outline an actionable “high-conviction” idea, but instead explores what is happening in the optics sector and the key trends to watch.</li></ul>

In this piece, we examine where optics and photonics are heading, combining our industry work with conversations with management at Fabrinet (NYSE: FN) and Ciena (NYSE: CIEN).Both companies are crucial players in the optical ecosystem, but they operate at very different points in the value chain.This piece does not outline an actionable “high-conviction” idea, but instead explores what is happening in the optics sector and the key trends to watch.

Ciena & Fabrinet: The Road Ahead for Optics

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Fabrinet reported strong financial results for the fourth quarter of fiscal year 2026, capping a year of accelerated growth with revenues reaching $1.316 billion, a 45% increase year-over-year, and surpassing the high end of its guidance.</li><li>Fiscal year 2026 revenue totaled $4.6 billion, up 36% from fiscal 2025, accompanied by a 39% rise in non-GAAP earnings per share to $14.09.</li><li>This growth was broadly based across multiple product lines and customers, particularly driven by increasing demand in the data center and communications infrastructure markets.</li></ul>

Fabrinet reported strong financial results for the fourth quarter of fiscal year 2026, capping a year of accelerated growth with revenues reaching $1.316 billion, a 45% increase year-over-year, and surpassing the high end of its guidance.Fiscal year 2026 revenue totaled $4.6 billion, up 36% from fiscal 2025, accompanied by a 39% rise in non-GAAP earnings per share to $14.09.This growth was broadly based across multiple product lines and customers, particularly driven by increasing demand in the data center and communications infrastructure markets.

Fabrinet - Fabrinet's $14 Billion Ambition: Can The AI Data Center Boom Fill The Capacity?

Independent Insight Provider

Kim Peng Ang

Thematic (Sector/Industry)

<ul>
<li>ASEAN’s strategic growth, digital expansion, and supply chain diversification present unmatched investment opportunities amid global geopolitical shifts. Act now to capitalize on its transformative decade.  </li>
<li>As ASEAN strengthens regional trade and digital infrastructure, it offers resilient, high-margin opportunities for long-term investors seeking diversification and growth in a changing global landscape.  </li>
<li>ASEAN is reshaping the future of Asia’s economy—poised for rapid growth, innovation, and supply chain leadership. Seize this moment for strategic, long-term value creation.</li>
</ul>


ASEAN’s strategic growth, digital expansion, and supply chain diversification present unmatched investment opportunities amid global geopolitical shifts. Act now to capitalize on its transformative decade.  
As ASEAN strengthens regional trade and digital infrastructure, it offers resilient, high-margin opportunities for long-term investors seeking diversification and growth in a changing global landscape.  
ASEAN is reshaping the future of Asia’s economy—poised for rapid growth, innovation, and supply chain leadership. Seize this moment for strategic, long-term value creation.


RCEP: Unlocking ASEAN’s Strategic Potential Amid the U.S.-China Trade Realignment

Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

<ul><li>To make my content readable, this is an optics-only earnings update.</li><li>I will discuss everything together and put together a high-level overview.</li><li>The specific things I am interested in are Marvell’s ZR and custom silicon.</li></ul>

To make my content readable, this is an optics-only earnings update.I will discuss everything together and put together a high-level overview.The specific things I am interested in are Marvell’s ZR and custom silicon.

Optics Earnings (FN, ANET, COHR, LITE, AAOI)

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

<ul>
<li>Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,000+ Insights published over the past two weeks on Smartkarma</li>
<li>In this cut, we review the global focus on critical minerals, how ASEAN's digital economy can grow amidst political uncertainty, and how IT services have fared with AI</li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next</li>
</ul>


Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,000+ Insights published over the past two weeks on Smartkarma
In this cut, we review the global focus on critical minerals, how ASEAN's digital economy can grow amidst political uncertainty, and how IT services have fared with AI
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next


Curator's Cut: Critical Minerals' Rise, SEA's Digital Promise & IT Services in Flux

Cayman Islands

Fabrinet is a specialized Electronics Manufacturing Services (EMS) company that provides advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers (OEMs). The company focuses on complex, quality-critical production, including optical communication components, industrial lasers, automotive components, medical devices, and sensors. Fabrinet was founded in 1999 and is headquartered in Pathumthani, Thailand.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Fabrinet (FN US)

Ciena & Fabrinet: The Road Ahead for Optics

In this piece, we examine where optics and photonics are heading, combining our industry work with conversations with management at Fabrinet (NYSE:...

Aurelion Research

Fabrinet - Fabrinet's $14 Billion Ambition: Can The AI Data Center Boom Fill The Capacity?

Fabrinet reported strong financial results for the fourth quarter of fiscal year 2026, capping a year of accelerated growth with revenues reaching...

Baptista Research

RCEP: Unlocking ASEAN’s Strategic Potential Amid the U.S.-China Trade Realignment

ASEAN insight offers a unique, data-backed perspective that uncovers critical trends that was forgotten and actionable ideas you can't afford to...

Kim Peng Ang

Optics Earnings (FN, ANET, COHR, LITE, AAOI)

To make my content readable, this is an optics-only earnings update. I will discuss everything together and put together a high-level overview.

Fabricated Knowledge

Curator's Cut: Critical Minerals' Rise, SEA's Digital Promise & IT Services in Flux

In this cut, we review the global focus on critical minerals, how ASEAN's digital economy can grow amidst political uncertainty, and how IT...

Pranav Rao

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)