tl;dr
Jabil (NYSE:JBL) shares experienced a significant decline in premarket trading after the company pre-announced first-quarter results and adjusted its guidance for fiscal 2024. Despite this, Stifel, an investment firm, recommended purchasing the stock in the face of this weakness. Jabil CEO Kenny Wil...
Jabil (NYSE:JBL) shares experienced a significant decline in premarket trading after the company pre-announced first-quarter results and adjusted its guidance for fiscal 2024. Despite this, Stifel, an investment firm, recommended purchasing the stock in the face of this weakness. Jabil CEO Kenny Wilson highlighted several areas of weakness, including consumer, digital print and retail, 5G, networking, and renewable energy, with Tesla as its primary customer. The company anticipates first-quarter revenue to reach approximately $8.35 billion, a figure $375 million lower than Stifel's estimate. Stifel also noted similarities between Jabil's guidance adjustment and that of Flex last month.
More about Jabil Circuit Inc
Jabil Inc. provides global manufacturing solutions and services, specializing in printed circuit boards. The company's market capitalization is $16.78 billion, with a stock price of $21.79 and a 6.02% change. The Relative Strength Index (RSI) is 260.92, indicating overbought conditions. The company's revenue is $34.7 billion, with a stock performance of 142.29 and a bearish trend indicated by a -0.485 change. Market sentiment may be cautious due to the negative trend and potential risks associated with overbought conditions.
More about Tesla Inc
Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. In 2020, Tesla had the highest sales in the plug-in and battery electric passenger car segments, capturing 16% of the plug-in market and 23% of the battery-electric market. The company also develops and is a major installer of solar photovoltaic energy generation systems in the United States and is one of the largest global suppliers of battery energy storage systems, with 3 GWh of battery storage supplied in 2020. In terms of financial metrics, Tesla Inc. reported a revenue of $95,924,003,000 and a net income of $224.9. The stock performance, as of the latest data, shows a stock price of $79.33 with a 3.11% change. The market sentiment appears to be slightly bearish with a Relative Strength Index (RSI) of 30.28, indicating potential oversold conditions. It's important to note that past market behavior is not always a reliable indicator of future performance, and there are potential risks and uncertainties associated with investing in Tesla Inc.
More about Flex Ltd
Flex Ltd. is a manufacturing company that specializes in printed circuit boards, with a market cap of $11.355 billion and a stock price of $15.14. The stock has shown a 1.73% change in the last trading session and has a Relative Strength Index (RSI) of 67.05, indicating it may be approaching overbought territory. The company's market sentiment is slightly bullish, with a positive momentum of 0.0262 and a trading volume of 30,040,001 shares. However, there is a slight downward trend with a change of -0.038. It's important to consider the potential risks and uncertainties associated with this analysis, as past market behavior is not always a reliable indicator of future performance.
Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.