Fujikura Shares Plunge After Three-Year Forecast Dents AI Hope

Fujikura Ltd. shares fell as much as 17% after its three-year forecast fell short of frothy expectations about artificial intelligence’s appetite for high-density optical-fiber networks.

The company said it’s targeting operating income of ¥315 billion ($2 billion) in the fiscal year starting April 2028, falling far short of the average analyst estimate of ¥455 billion.