Sanmina Posts Mixed Results in Q2 and Disappointing Guidance for Q3
Tuesday, 30 April 2024, 22:05
Sanmina's Fiscal Performance
The electronics component maker, Sanmina, reported a decline in net sales and non-GAAP net income for the fiscal second quarter. The results missed analyst estimates, reflecting broader challenges in the market.
Market Response and Guidance
The stock price fell over 5% following the announcement, attributable to weak guidance for the third quarter. The company's CEO expressed optimism about future market conditions despite cautious forecasts.
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