Fanuc shares dive most in 40 years after procurement fears hit
Fanuc shares experienced their largest intraday drop since 1986 after the company reported a profit outlook that fell short of analyst expectations. The robotic arm manufacturer is struggling with rising costs for semiconductors and shipping materials.
Why it matters
The sharp decline in Fanuc's stock reflects broader investor anxiety regarding supply chain inflation and the profitability of major industrial automation firms.
Fanuc shares plunged the most in four decades after the maker of factory robots raised its profit outlook by less than expected, heightening fears about soaring prices of materials.The supplier of robotic arms raised its full-year operating profit forecast by about 3%, after reporting a 37% surge in orders in the June quarter.
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