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Technology Stocks : Flextronics International (FLEX)
FLEX 54.50-6.5%Nov 20 3:59 PM EST
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To: kolo55 who wrote (709)7/10/1998 6:11:00 PM
From: 18acastra  Read Replies (1) of 1422
 
They did not lose AFCI.

AFCI pre-announced a bad quarter, and therefore Flextronics business with them declined significantly. However, as is usually the case in many of these instances, AFCI had been very slow w/Flextronics for 2 quarters already. The contract manufacturer usually sees the problem before the "street" does. Fortunately, the rest of Flextronics business has been strong enough to make up for AFCI weakness.

Generally, all the CEMs manage a porfolio of customers. Every quarter, some are weaker than expected and some are stronger. In Flextronics case, the rest of the portfolio (including new business sold) was strong enough to make up for the weakness. In Jabil's case, unfortunately it wasn't (more concentrated customer base and hits to bigger customer's). I do, however, believe, that Jabil is by far the most compelling buy right now and is likely a double by this time next year.

My opinion.
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