Sanmina Corp

SANM remains entrenched in a Stage 4 decline with pronounced lower highs and lower lows beneath its falling short-term EMAs. Medium-term bias is bearish, disallowing fresh long entries. Short-term timing is unfavorable amid extreme oversold readings and downside extension, advising deferred sell execution into rallies toward the EMA band.

• ↑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