Sanmina shares tumble after JPMorgan downgrade and revenue guidance miss

Sanmina Corporation's stock fell sharply following a downgrade by JPMorgan Chase & Co., which cut its price target from $275 to $260 and kept a neutral rating. The shares opened at $184.16, well below the previous close of $208.90, and later dropped to $166.15, a decline of about 20% despite the company posting a strong earnings beat. For the fiscal third quarter of 2026, Sanmina reported earnings of $3.31 per share and revenue of $3.46 billion, both above analysts' estimates. However, the company's forward revenue guidance for the next quarter fell short of expectations, prompting a steep sell‑off. Analysts also noted that several research houses had downgraded the stock in recent weeks, contributing to the negative sentiment.