比亚迪（002594.SZ）8月28日宣布，控股子公司比亚迪电子（00285.HK）计划以约人民币158亿元（等 值22亿美元）现金收购捷普新加坡位于成都、无锡的产品生产制造业务。 比亚迪方面表示，本次收购将拓宽智能手机零部件业务，大幅改善比亚迪电子客户与产品结构。捷普方 面则表示，这笔交易"将是我们公司史上最大的一项交易"。 消息发布后，比亚迪电子早盘高开低走，目前公司股价翻红，不过盘中最大跌幅超9%。 第一上海证券发布研报认为，比亚迪电子第二季度业绩"大幅超预期"。第一上海证券分析公司业绩增长 的驱动力包括：1.自去年四季度开始，北美客户核心产品份额开始提升，今年二季度实现进一步提升， 随着产能利用率环比稳步提升，组装毛利率边际改善明显；2.安卓业务第二季度环比实现有限恢复。同 时，受益于母公司新能源汽车业务的旺盛需求，第一上海证券认为比亚迪电子的新能源汽车业务环比实 现大幅增长。 对于捷普方面而言，"这项变革性的交易将是我们公司史上最大的一项交易。"捷普首席执行官Kenny Wilson称，"如果交易完成，交易收益将使我们能够加强以股东为中心的资本框架，包括逐步增加的股 份回购。此外，还将让我们有机会进 ...

Company Performance - Jabil (JBL) closed at $218.56, reflecting a -2.07% change from the previous day, underperforming the S&P 500's daily loss of 1.6% [1] - Over the past month, Jabil's shares have decreased by 1.26%, while the Computer and Technology sector gained 4.45% and the S&P 500 increased by 2.25% [1] Upcoming Financial Results - Jabil's upcoming EPS is projected at $2.92, indicating a 26.96% increase compared to the same quarter last year [2] - The consensus estimate for revenue is $7.6 billion, reflecting a 9.17% rise from the equivalent quarter last year [2] Full-Year Estimates - Zacks Consensus Estimates forecast earnings of $9.39 per share and revenue of $29.15 billion for the full year, representing year-over-year changes of +10.6% and +0.93%, respectively [3] - Recent analyst estimate revisions indicate optimism about Jabil's business and profitability [3][4] Zacks Rank and Valuation - Jabil currently holds a Zacks Rank of 1 (Strong Buy), with a historical average annual return of +25% for 1 stocks since 1988 [5] - The Zacks Consensus EPS estimate has increased by 0.21% over the past month [5] - Jabil's Forward P/E ratio is 23.78, which is a premium compared to the industry average Forward P/E of 21.71 [6] Industry Context - Jabil has a PEG ratio of 1.44, matching the average PEG ratio of the Electronics - Manufacturing Services industry [7] - The Electronics - Manufacturing Services industry is part of the Computer and Technology sector and holds a Zacks Industry Rank of 9, placing it in the top 4% of over 250 industries [8]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Jabil (JBL) - Jabil currently holds a Momentum Style Score of B, indicating potential for strong performance based on price changes and earnings estimate revisions [3] - The company has a Zacks Rank of 1 (Strong Buy), suggesting it is expected to outperform the market [4] Price Performance - Over the past week, Jabil's shares increased by 0.88%, while the Zacks Electronics - Manufacturing Services industry declined by 0.57% [6] - In the last month, Jabil's stock price rose by 6.75%, outperforming the industry's 5.67% [6] - Over the past quarter, Jabil's shares surged by 56.35%, and over the last year, they increased by 106.35%, compared to the S&P 500's gains of 18.84% and 15.9%, respectively [7] Trading Volume - Jabil's average 20-day trading volume is 1,385,490 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the last two months, three earnings estimates for Jabil have been revised upward, with no downward revisions, leading to an increase in the consensus estimate from $8.93 to $9.39 [10] - For the next fiscal year, three estimates have also moved higher, indicating positive sentiment around Jabil's earnings potential [10] Conclusion - Given the strong performance metrics and positive earnings outlook, Jabil is positioned as a promising investment opportunity with a Momentum Score of B and a Zacks Rank of 1 (Strong Buy) [12]

Market Overview - Wall Street's winning streak continues, driven by positive trade news and strong economic data, with the S&P 500 reaching a record high following a significant trade deal between the United States and Japan, which lowers tariffs and opens up $550 billion in new investments [1] - Retail sales exceeded expectations in June, and jobless claims decreased, indicating a robust labor market and steady consumer spending despite ongoing tariff concerns [1][9] Trade Negotiations and Economic Environment - Progress in trade negotiations with the U.K., Indonesia, and the Philippines, along with positive signals from China and the EU, creates an encouraging backdrop for equities [2] - The current earnings season is contributing to market momentum, suggesting that focusing on relative price strength can help investors identify leading stocks [2] Stock Recommendations - Recommended stocks based on relative price strength include Western Digital Corporation (WDC), Flowserve Corporation (FLS), OPENLANE, Inc. (KAR), AngloGold Ashanti plc (AU), and Jabil Inc. (JBL) [3][9] - These stocks are outperforming their peers, supported by strong relative price strength metrics [9] Relative Price Strength Strategy - Earnings growth and valuation multiples are crucial for assessing a stock's potential returns and its performance relative to peers [4] - Investors are advised to avoid underperforming stocks and focus on those that are outperforming their respective industries or benchmarks [5] Screening Parameters - Stocks are screened based on relative price changes over 12 weeks, 4 weeks, and 1 week, as well as positive current-quarter estimate revisions [8] - Stocks that have shown better performance than the S&P 500 over the last 1 to 3 months and have solid fundamentals are considered for investment [6] Company Profiles - **Western Digital Corporation (WDC)**: Market cap of $23.4 billion, expected EPS growth of 2,465% year-over-year for fiscal 2025, with a trailing four-quarter earnings surprise of approximately 7.3% [11][12] - **Flowserve Corporation (FLS)**: Market cap not specified, expected EPS growth rate of 14.2% over three to five years, with a 22.1% year-over-year growth estimate for 2025 [13][14] - **OPENLANE, Inc. (KAR)**: Market cap of $2.7 billion, expected EPS growth of 17.7% year-over-year for 2025, shares up 44% in a year [14][15] - **AngloGold Ashanti plc (AU)**: Market cap of $21.8 billion, expected EPS growth of 125.8% year-over-year for 2025, shares up 89% in a year [16] - **Jabil Inc. (JBL)**: Market cap not specified, expected EPS growth rate of 16.6% over three to five years, with a 10.6% year-over-year growth estimate for 2025 [17][18]

Group 1 - Jabil (JBL) is outperforming the Computer and Technology sector with a year-to-date return of 53.5%, compared to the sector average of 9.8% [4] - Jabil holds a Zacks Rank of 1 (Strong Buy), indicating strong analyst sentiment and a positive earnings outlook, with a 5.5% increase in the consensus estimate for full-year earnings over the past quarter [3] - The Electronics - Manufacturing Services industry, to which Jabil belongs, has seen an average gain of 44.4% year-to-date, further highlighting Jabil's strong performance within its industry [5] Group 2 - Allegro MicroSystems, Inc. (ALGM) is another stock in the Computer and Technology sector that has outperformed, with a year-to-date increase of 65.8% and a consensus EPS estimate increase of 21.8% over the past three months [4][5] - The Electronics - Semiconductors industry, which includes Allegro MicroSystems, has gained 14.9% year-to-date and is ranked 54 among 44 industries [6]

Core Viewpoint - Momentum investing focuses on "buying high and selling higher" rather than traditional strategies of "buying low and selling high" [1][2] Group 1: Momentum Investing Strategy - Momentum investors typically do not time the market, instead they capitalize on stocks that are trending upwards [1] - Identifying the right entry point for fast-moving stocks can be challenging, as they may lose momentum if their valuations exceed future growth potential [2] Group 2: Investment Opportunities - Investing in bargain stocks that have recently shown price momentum can be a safer strategy [3] - Jabil (JBL) is highlighted as a strong candidate for momentum investing, having experienced a 7.1% price increase over the past four weeks [4] - JBL has gained 52.5% over the past 12 weeks, indicating strong momentum [5] - JBL has a Momentum Score of B, suggesting it is an opportune time to invest [6] - JBL's upward trend in earnings estimate revisions has earned it a Zacks Rank 1 (Strong Buy), which is associated with strong momentum effects [7] - JBL is currently trading at a Price-to-Sales ratio of 0.84, indicating it is attractively priced relative to its sales [7] Group 3: Additional Investment Options - Besides JBL, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, presenting further investment opportunities [8] - Zacks offers over 45 Premium Screens tailored to different investing styles, which can assist in identifying potential winning stocks [9]

Core Viewpoint - Jabil reported strong third-quarter fiscal 2025 results, surpassing both revenue and earnings estimates, driven by solid demand in key markets such as data center infrastructure and digital commerce [2][3][4]. Financial Performance - Net income on a GAAP basis was $222 million or $2.03 per share, up from $129 million or $1.06 in the prior-year quarter, primarily due to top line growth [3]. - Non-GAAP net income was $279 million or $2.55 per share, compared to $230 million or $1.89 in the prior-year quarter, exceeding the Zacks Consensus Estimate of $2.33 [3]. - Revenues increased to $7.82 billion from $6.76 billion year over year, beating the consensus estimate of $7.08 billion [4]. Segment Performance - The Regulated Industries segment generated $3.1 billion in revenues, flat year over year, contributing 39% to total revenues, affected by weakness in renewable energy and EV verticals [5]. - The Intelligent Infrastructure segment reported $3.4 billion in revenues, up 51% year over year, contributing 44% to total revenues, supported by demand in capital equipment and AI-related cloud services [6]. - The Connected Living & Digital Commerce segment saw revenues decline to $1.3 billion, down 7% year over year, accounting for 17% of total revenues, impacted by soft demand for consumer products [7]. Profitability and Cash Flow - Gross profit was $681 million, compared to $608 million in the year-ago quarter, while non-GAAP operating income rose to $420 million from $350 million [8]. - Non-GAAP operating margin was 5.4%, down from 6% in the prior year [8]. - Jabil generated $406 million of net cash from operating activities, with $1.52 billion in cash and cash equivalents as of May 31, 2025 [9]. Future Guidance - For the fourth quarter of fiscal 2025, revenues are expected to range from $7.1 billion to $7.8 billion, with non-GAAP operating income projected between $428 million and $488 million [10]. - Management raised fiscal 2025 revenue projections to $29 billion from $27.9 billion, with non-GAAP earnings per share expected at $9.33, up from $8.95 [11]. Market Sentiment - There has been an upward trend in estimates revision over the past month, indicating positive market sentiment [12]. - Jabil holds a Zacks Rank 1 (Strong Buy), suggesting expectations for above-average returns in the coming months [14].

Industry Overview - The artificial intelligence (AI) infrastructure sector is experiencing significant growth, with a bullish demand scenario and a projected capital expenditure increase of 46% year-over-year, reaching $325 billion by 2025 [3][4]. - The total addressable global sovereign AI market is estimated to be $1.5 trillion, indicating vast opportunities for investment and development in various fields such as healthcare, energy, and cybersecurity [4]. Company Highlights Credo Technology Group Holding Ltd. (CRDO) - Credo Technology is focused on high-performance serial connectivity solutions, particularly in AI server markets, with its Active Electrical Cables (AEC) gaining traction due to their reliability [9][10]. - The company has achieved significant milestones, including an 800-gig transceiver DSP design win and the introduction of ultra-low-power optical DSPs, which are expected to enhance industry standards [11][14]. - CRDO anticipates a revenue growth rate of 85.8% and earnings growth of over 100% for the current fiscal year, with a 37% improvement in earnings estimates over the last 60 days [14]. Jabil Inc. (JBL) - Jabil is benefiting from strong momentum in AI-powered data center infrastructure and has a diversified product portfolio that enhances its resilience against macroeconomic disruptions [15][16]. - The company has a projected revenue growth rate of 5.6% and earnings growth of 17.8% for the next fiscal year, with an 8.4% increase in earnings estimates over the past 30 days [17]. Lumentum Holdings Inc. (LITE) - Lumentum designs and manufactures optical technologies that support AI applications, with a focus on high-speed telecommunications and data centers [18][20]. - The company has a strong collaboration with NVIDIA in developing photonic solutions, which are crucial for AI infrastructure [21]. - LITE expects a revenue growth rate of 32.8% and earnings growth of over 100% for the current fiscal year, with a slight improvement in earnings estimates recently [21].

Core Industry Insights - The electronics manufacturing services (EMS) industry is highly competitive and rapidly evolving, driven by factors such as AI, data center expansion, consumer electronics growth, 5G adoption, IoT proliferation, and automotive innovation [4] - Both Celestica Inc. and Jabil Inc. are strategically positioned in this evolving EMS landscape, with domain-specific expertise in core areas [4] Jabil Inc. Highlights - Jabil is experiencing significant growth in AI-related revenues, projected to reach $8.5 billion by 2025, reflecting a 50% year-over-year growth [5] - The AI data center market is expected to grow from $15.02 billion in 2024 to $93.60 billion in 2032, with a compound annual growth rate of 26.8% [6] - Jabil plans to invest $500 million in the Southeast U.S. to expand manufacturing capabilities and workforce development for the cloud and AI data center infrastructure market [6] - The company generated $326 million in adjusted free cash flow in Q3 and anticipates over $1.2 billion in adjusted free cash flow for the full year 2025, indicating efficient working capital management [7] - Jabil faces challenges from weak demand in renewable energy and EV verticals, as well as competition from Celestica and others [8] Celestica Inc. Highlights - Celestica is witnessing growth in its Connectivity & Cloud Solutions (CCS) segment, driven by strong demand for 400G and 800G switches [9][10] - The company is focusing on product diversification and innovation, with strategic collaborations with industry leaders like AMD and Broadcom expected to yield long-term benefits [10] - Celestica's strong R&D capabilities allow it to produce high-volume electronic products and complex technology infrastructure products [11] - The introduction of innovative products, such as the ES1500 enterprise access switch, positions Celestica for long-term growth [12] - However, the company faces margin pressures due to intensifying competition and significant customer concentration risk [13] Financial Performance and Valuation - Jabil's 2025 sales are estimated to grow by 0.58%, with EPS growth of 10.13%, while Celestica's sales and EPS are expected to grow by 13.15% and 30.15%, respectively [14][16] - Over the past year, Celestica's stock has gained 152.6%, while Jabil's has increased by 85.2% [17] - Jabil's shares trade at a forward P/E ratio of 20.42, which is lower than Celestica's 28.98, making Jabil more attractive from a valuation standpoint [17] Investment Outlook - Jabil holds a Zacks Rank 1 (Strong Buy), while Celestica has a Zacks Rank 3 (Hold), indicating a stronger investment outlook for Jabil [19][21] - Both companies are expected to benefit from the growing AI proliferation across industries, but Jabil's broader portfolio, robust cash flow, and strategic investments provide it with a competitive edge [21]

Core Insights - Endeavour Energy LLC and Jabil Inc. have expanded their collaboration to deliver modular, just-in-time (JIT) AI-ready infrastructure, aiming to enhance scalability and efficiency in data center operations [1][5] - The new JIT model is designed to eliminate capacity bottlenecks, reduce the risk of overbuild, and significantly lower total capital expenditure, with potential upfront investment reductions of up to 90% [2][4] Company Collaboration - The partnership combines Endeavour's advanced data center technologies with Jabil's manufacturing and supply chain solutions, enabling a dynamic, demand-responsive delivery of infrastructure tailored for AI [3][6] - This collaboration is expected to provide up to 2 gigawatts per year of elastic AI infrastructure capacity, aligning infrastructure delivery with real-time demand [4][7] Strategic Initiative - The initiative represents a shift from traditional large capital investments to a more precise, incremental, and demand-driven approach, improving capital efficiency and reducing risk for customers [5][6] - Jabil's recent $500 million commitment to domestic cloud and AI infrastructure manufacturing is expected to be operational by mid-2026, further supporting this strategic initiative [5] Industry Impact - The new just-in-time platform is set to launch in the United States in Q1 2027, with over a dozen Edged data centers already operational or under construction across North America and Europe [7] - The initiative aims to address both technological and business challenges in the AI era, ensuring that critical infrastructure accelerates innovation rather than constraining it [6]