Sanmina Corp

SANM is undergoing structural repair after Bearish Pivot Point and Bearish Exhaustion patterns signaled failure of upside control and seller fatigue. The medium-term bias is bearish as price tracks below its 9/20 EMAs and the 50 SMA, disallowing fresh long entries. Short-term timing is neutral amid extreme oversold readings with no clear reversal, advising deferred sell execution into rallies near the EMAs.

• ↑Q2 revenue of $4.01B rose 102% YoY, driven by ZT acquisition
• ↑Non-GAAP operating margin expanded to 6.4%, up 80 bps YoY
• ↓P/E of 53.5x vs 5-year median 13.7x suggests overvaluation