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Jabil Inc. (JBL) is a manufacturing solutions firm staring down slowing demand across multiple end markets.
Jabil shares have fallen roughly 30% since JBL’s second quarter FY24 earnings release in mid-March, and its most recent EPS estimates came in below its already beaten-down consensus for next year.
Jabil Stock Basics
Jabil provides manufacturing services to companies in telecommunications and tons of other industries. Jabil helps its customers make everything from smartphones and home appliances to healthcare tech, and beyond.
Jabil serves original equipment manufacturers and product companies across multiple industries and end markets, including compute & storage, automotive, telecom, energy & industrial, and more.
Jabil’s client list features giants of critical and game-changing industries, including Apple AAPL. Apple reportedly made up 17% of Jabil’s revenue during its fiscal 2023.
Jabil’s diversification and expertise helped it grow steadily for years, including 12% average revenue growth between FY18 and FY22. The company then posted just a 4% sales expansion in FY23 (the period ended August 31, 2023).
Jabil provided downbeat earnings guidance throughout the first three quarters of its fiscal 2024. Jabil divested its Mobility business this fiscal year and “experienced softness across multiple end markets.”
Jabil’s downward earnings revisions help it earn a Zacks Rank #5 (Strong Sell) right now. Jabil’s most accurate/recent EPS estimate for FY25 came in 3% below its current consensus, which is already down 14% since its Q3 release in late June.
Bottom Line on JBL Stock Right Now
JBL stock has outperformed the Zacks Tech sector over the last decade. On top of that, Jabil stands to expand alongside growth trends such as data center power and cooling, semi-cap equipment, and beyond.
Still, Jabil stock has fallen nearly 30% since its second quarter FY24 earnings release in mid-March and 14% YTD. JBL shares are trading below their 21-week and 50-week moving averages, and its Electronics - Manufacturing Services space is in the bottom 16% of over 250 Zacks industries.
Investors might want to stay away from Jabil stock until it releases its fourth quarter FY24 financial results on September 26 and provides updated guidance.
Zacks Investment Research
Lower interest rates can do wonders for financial technology companies (Fintech) which strive to improve and automate financial services.
In an ever-evolving technological landscape and business environment, several popular fintech stocks are standing out and should benefit as the Fed decided to cut the central bank's benchmark rate by 50 basis points today.
PayPal’s Resurgence: Payment Solutions Leader
Sporting a Zacks Rank #1 (Strong Buy), PayPal’s PYPL steady growth trajectory has become more believable thanks to the company’s relevancy as one the largest transaction facilitators for customers and merchants.
Posting a sharp rebound this year, PYPL is up nearly +20% in 2024. Analysts have become more bullish on PayPal’s expanding partnerships and innovation with a few collaborations listed below.
1. Fiserv FI partnership- Aimed at streamlining checkout experiences for merchant clients in the U.S.
2. Uber UBER partnership- Multi-year collaboration to capitalize on the ride-sharing giant’s global expansion and scale PayPal into worldwide markets.
3. PayPal has also expanded its partnership with Apple AAPL, creating an integrated payment ecosystem with Apple Pay and its subsidiary Venmo VMEO. Notably, PayPal has enhanced its features for Venmo in regard to services for small business owners.
IBKR & HOOD Stock: Investment Bank Growth
Expanding as electronic market brokers, International Brokers IBKR and Robinhood Markets' HOOD stock both sport a Zacks Rank #2 (Buy).
Increasing in popularity since going public in 2021, Robinhood is expected to post its first profit this year with EPS now expected at $0.76 versus an adjusted loss of -$0.61 a share in 2023. The Fed’s decision to cut rates is perfect timing for Robinhood as the renowned cryptocurrency trading company is expected to be profitable in fiscal 2025 as well.
Pivoting to Interactive Brokers, its bottom line expansion is very enticing with EPS projected to pop 18% in FY24 to $6.81 compared to earnings of $5.75 per share last year. Plus, FY25 EPS is projected to rise another 2%.
More intriguing is that IBKR and HOOD have soared over +50% year to date but still trade at fairly reasonable forward P/E multiples of 19.3X and 29.7X respectively.
Bottom Line
Suggesting more upside in these top fintech stocks is that earnings estimate revisions have remained higher. This trend should continue with the Fed’s much-anticipated decision to cut rates finally upon us.
Zacks Investment Research
Taiwan Semiconductor Manufacturing Co stock lost 4% in the last 30 days. Last month saw volatility as Nvidia Corp released its quarterly print and more.
The VanEck Semiconductor ETF and iShares Semiconductor ETF , representing the semiconductor industry, have lost ~7% in the last 30 days. Now, let’s run down the events for Taiwan Semiconductor since Nvidia released its quarterly print.
On August 28, Nvidia reported second-quarter topline growth of 122% to $30.04 billion, quashing the analyst consensus of $28.68 billion.
Also Read: Intel Looks To Restructure Foundry Business, Bags Major US Deal and Government Grants
The company projected third-quarter revenue of $31.85 billion—$33.15 billion, versus the consensus of $31.77 billion.
Still, the stock dropped by 6% in after-hours trading, sending semiconductor stocks, including Taiwan Semiconductor, Advanced Micro Devices, Inc , and Super Micro Computer, Inc , down as the print failed to impress the Street.
The semiconductor sector selloff continued in September, with U.S.-China geopolitical tensions intensifying due to the Western counterpart’s artificial intelligence technology embargo on the Asian counterpart.
Meanwhile, Taiwan Semiconductor remained invested in solidifying its moat by localizing neon gas production, a key chipmaking material disrupted by the Ukraine war, and fast-tracking the development of silicon photonics to address the energy and data transmission speeds needed by AI computing.
Taiwan Semiconductor projected a 50% growth in AI accelerators at the Semicon Taiwan industry forum in Taipei despite concerns over the sustainability of the AI frenzy, which is sending jitters across the market. Broadcom Inc’s quarterly print and guidance did little to contain the semiconductor selloff.
On the brighter side, reports indicated that the contract chipmaker’s production yield at the Arizona facility is at par with its Taiwan facilities.
Taiwan Semiconductor reported 33% topline growth in August 2024, testimony to the smartphone market recovery and continued demand for Nvidia AI chips. Analysts expect third-quarter revenue growth of 37%.
Some of Taiwan Semiconductors key September wins included a Alphabet Inc Google smartphone deal involving Pixel 10 and Pixel 11 chips and Apple Inc’s A16 chip at its Arizona Fab.
Taiwan Semiconductor is up over 90% in the last 12 months as it led the global foundry market, commanding a 62% share in the second quarter of 2024.
Price Action: TSM stock closed at $167.28 on Wednesday.
Image via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Amazon.com, Inc. has raised the pay for hourly workers at its U.S. fulfillment centers and transportation operations, the retail giant announced on Wednesday.
“Earlier today, I visited one of our sites near Salt Lake City to share some news with our teammates there—that we're making a significant new investment in pay and benefits for the hourly front-line employees across our fulfillment and transportation network,” Udit Madan, vice president of Amazon Worldwide Operations, wrote in the company’s newsletter.
He said Amazon’s front-line team will receive an hourly pay raise of $1.50 starting this month to bring the average base wage to $22 per hour. This will bring average total compensation, which includes benefits, to $29 per hour, he said.
“This is an increase of $3,000 a year on average for full-time employees who work a 40-hour week,” he wrote.
Read Also: What’s Going On With Amazon Stock?
“And as one of the largest private employers in the country (we now have more than 800,000 people in these roles across the U.S.), this pay increase equals a total investment of more than $2.2 billion in our team.”
Amazon’s benefits include pre-paid college tuition, flexible working hours, a Prime membership, health insurance from the first day on the job and dental coverage.
“As I told the team this morning, this is just one way to say thank you for all they do,” Madan wrote.
Apple Inc. , Microsoft Corporation and Google, which is owned by Alphabet Inc. offer six-figure salaries for managers and engineers.
Just over a year ago, the United Parcel Service, Inc. and the Teamsters Union ratified a five-year contract that ensures $170,000 per year for drivers over the next five years.
Price Action: Amazon gained 0.1% to $187.11 at the time of publication Wednesday.
Exchange-traded funds that hold the stock also trended upward.
Read Next:
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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