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To: Jerry Olson who wrote (2270)	10/27/2000 11:52:42 AM
From: Frederick Langford	Read Replies (1) \| Respond to of 8925

SAMN Fundamental side of the story: Sanmina Corporation (Nasdaq: SANM) ($115.63) F2001 Cash EPS: $2.85 from $2.45 F2002 Cash EPS: $3.75 from $3.20 Buy J. Keith Dunne, Electronic Manufacturing Products and Services "We are significantly raising our cash EPS to $2.85 from $2.45 in fiscal 2001 and introducing a $3.65-3.85 fiscal 2002 estimate due to stronger growth in core EMS and PWB sales, though accretive acquisitions could boost these estimates," said Dunne. "Sanmina reported fourth quarter Cash EPS of $0.62, up 92% from last year on a similar proforma sales gain to $1.3 billion, despite 15% greater shares outstanding. Management indicated PWB demand is strong and plans to increase capacity to produce $2.0 billion in fiscal 2001, up 30-35% from $1.5 billion estimated in fiscal 2000, with 40% used internally and 60% sold to the merchant market. We are maintaining our Buy rating. Sanmina is trading for 37 times our calendar 2001 EPS, a modest discount to its peers and its growth rate, which may still be conservative if the company is able to further leverage its strong balance sheet to make additional accretive acquisitions."