Commodity Channel Index
|Bid||29.95 x 800|
|Ask||30.69 x 800|
|Day's Range||29.54 - 30.26|
|52 Week Range||17.63 - 44.20|
|Beta (5Y Monthly)||1.26|
|PE Ratio (TTM)||35.04|
|Earnings Date||Jun 16, 2020 - Jun 22, 2020|
|Forward Dividend & Yield||0.32 (1.06%)|
|Ex-Dividend Date||May 14, 2020|
|1y Target Est||34.13|
The stocks of Apple suppliers have underperformed Apple shares year to date. And now might be the time for investors to pick up cheap tech stocks near the bottom of the market.
Today, Jabil Inc. (NYSE: JBL), announced that its Board of Directors declared a quarterly dividend of $0.08 per share of common stock to shareholders of record as of May 15, 2020. The dividend is payable on June 3, 2020.
As the coronavirus pandemic takes a hold of Florida and Tampa Bay, government orders have shut down businesses for the foreseeable future. Gov. Ron DeSantis ordered all bars and nightclubs to close for at least a month starting on March 17.
When a software company began to hear of the pandemic sweeping across Asia and Europe, officials started having small groups test working from home.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
(Bloomberg) -- Apple Inc. kept its business rolling through the coronavirus pandemic this week by launching a new iPad Pro and two new Macs. But that doesn’t mean its supply chain is in the clear.Deliveries of the new products will begin arriving on doorsteps next week. However, production of those devices likely started in early January, before the worst effects of China’s virus lockdown in February, according to people familiar with Apple’s supply chain.With a fresh round of supplier factory closures enforced by Malaysia, and the virus disrupting operations in much of the rest of the world, the iPhone maker’s supply chain has not fully recovered yet.Apple’s next flagship iPhones, with 5G wireless capabilities, are still on schedule to launch in the fall, although that’s partly because mass production isn’t due to begin until May, said the people. They asked not to be identified discussing private supply chain issues.“Even as China comes back on line, we are beginning to wonder if Covid-19 will impact other supply oriented geographies,” Brad Gastwirth, chief technology strategist at Wedbush Securities, wrote in a recent note to investors. “While China is improving, the supply chain for the electronics industry may yet see substantial disruptions.”An Apple spokesman declined to comment. Chief Executive Officer Tim Cook, the architect of the company’s China-focused supply chain, said Feb. 28 that production issues would be a “temporary condition.”Apple’s assembly factories in China, run mainly by Hon Hai Precision Industry Co., were in low gear for much of February. The manufacturing giant, also known as Foxconn, hopes to begin operating normally by the end of March.The February slowdown led to iPhone and AirPods supply constraints, but those have begun to subside. This week, Apple has been limiting iPhone purchases to two per customer on its online store in several countries. In early March, the company warned retail employees about shortages of replacement iPhones.One new product unveiled this week suggests there’s strain on Apple’s supply chain, but also shows the company can still mass produce gadgets given enough time. The keyboard accessory for the iPad Pro was announced Wednesday but goes on sale in May, an unusual delay.Read more: Supply Shock Is Wiping Out Hopes of Smartphone Sales GrowthMass assembly is only one part of Apple’s supply chain. The company and its many partners spend months or years sourcing individual components that are assembled into final products. Any disruptions in this complex network could slow the introduction of future devices.One person who works in Apple’s supply chain said not all operations are moving at normal speed because the flow of components to assemble is still slow. It will take another month or more to get parts moving steadily through the system, the person added.Jabil Inc., which makes iPhone casings, recently said its factories in China were “near normal,” while plants in other parts of the world were running 5% to 10% below capacity.“Most of that is due to supply chain issues. In some odd way, as we sit today, I think China is the least of our concerns,” CEO Mark Mondello told analysts during a March 13 conference call. “We’re able to accommodate all of the demand that’s in front of us as long as we can get parts.”A two-week lockdown in Malaysia is affecting several key suppliers that have operations in the country. Murata Manufacturing Co., Renesas Electronics Corp. and Ibiden Co., which make chips and circuit boards for Apple, have halted production there.Micron Technology Inc., which makes memory chips for Apple devices, is also impacted, but said an exemption allows “limited semiconductor operations to continue.” Texas Instruments Inc. and On Semiconductor Corp. have facilities in Malaysia, too.Apple has suppliers and operations in other countries that have been hammered by the virus, including Italy, Germany, the U.K. and South Korea.Samsung Display and LG Display Co. make iPhone screens in South Korea, while many Apple engineers working on cellular modems are based in Munich, Germany. Apple also operates former Dialog Semiconductor Plc facilities that work on power-management chips in Livorno, Italy, Nabern and Neuaubing, Germany, and Swindon, U.K.Apple has several hundred research and development engineers for future processors and underlying technologies in Israel, which is only letting citizens leave their homes for essential reasons, like buying food and medicine.Read more: Israel’s Netanyahu Orders Near Total LockdownIn the U.S., Apple has suppliers such as Corning Inc. for glass, and Qorvo Inc., Skyworks Solutions Inc. and Broadcom Inc. for wireless chips. Broadcom Chief Executive Officer Hock Tan said recently that the virus “is going to have an impact on our semiconductor business, in particular in the second half of the fiscal year.”Chips take months to make and test, and companies build up months of inventory. That means Apple and other device makers may not have seen the worst of the disruptions yet.The virus is likely challenging Apple’s ability to design and test early versions of future products in Silicon Valley, which is grappling with a shelter-in-place mandate. The company has instated a remote work order, save for some mission-critical employees, for all its offices outside of China.San Francisco’s Shelter-in-Place Order Shows U.S. What’s to ComeThese struggles have yet to severely derail the 5G iPhone launch in the fall. During China’s factory shutdown in February, Apple was able to build a limited number of test versions of the new models, one of the people familiar with the company’s supply chain said.Apple finalizes the majority of design features for new iPhones between November and December of the year prior to launch, the people said. It begins mass-producing new casings around April and then starts a late manufacturing stage called Final Assembly, Test and Pack in about May.Should Apple be unable to send full teams of engineers to China factories to finalize designs and resolve issues, this typical timeline could still slip, another person familiar with the company’s supply chain said.(Updates with Jabil comments in 12th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The tech supply chain has begun to recover from the effects of COVID-19 in China, but don’t expect an easy return to normal.
One of the largest public companies in the Tampa Bay region has spent $53 million in expenses due to COVID-19, according to its latest earnings report. The report, released Friday, states the company had the multimillion-dollar expense in the second quarter after coronavirus became a pandemic. The company had a net revenue of $7.5 billion at the end of its first quarter.
Jabil (JBL) delivered earnings and revenue surprises of -16.67% and -0.02%, respectively, for the quarter ended February 2020. Do the numbers hold clues to what lies ahead for the stock?
Shares of Jabil Inc. rose 1.6% in premarket trading, in the face of a sharp bounce in the broader stock market--S&P 500 futures soared 5.1%--after the contract manufacturer reported a fiscal second-quarter profit that missed expectations, citing disruptions associated with the COVID-19 outbreak. For the quarter to Feb. 29, the company swung to a net loss of $3.3 million, or 2 cents a share, from net income of $67.4 million, or 43 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to 50 cents, below the FactSet consensus of 65 cents. Revenue rose to $6.13 billion from $6.07 billion, below the FactSet consensus of $6.20 billion. "After a stronger than expected start to the fiscal quarter, our factories were adversely impacted by workforce and supply chain disruptions associated with COVID-19," said Chief Executive Mark Mondello. On Feb. 25, the company had said that after a stronger-than-expected start to the second quarter, overall product demand remains largely as anticipated at the start of the quarter. The company said that it was withdrawing its full-year guidance, as when it was provided in mid-December, it did not anticipate the impact of a global pandemic. On Feb. 25, the company had said that after a stronger-than-expected start to the second quarter, overall product demand remains largely as anticipated at the start of the quarter.
On Friday, March 13, Jabil (NYSE: JBL) will release its latest earnings report. Here is Benzinga's outlook for the company.Earnings and Revenue Based on management's projections, Jabil analysts model for earnings of 64 cents per share on sales of $6.16 billion.View more earnings on JBLIn the same quarter last year, Jabil posted a profit of 64 cents on sales of $6.07 billion. The Wall Street consensus estimate for earnings would represent a 0.00% increase for the company. Sales would be up 1.53% from the same quarter last year. Here's how the company's reported EPS has stacked up against analyst estimates in the past: Quarter Q1 2020 Q4 2019 Q3 2019 Q2 2019 EPS Estimate 0.940 0.860 0.570 0.61 EPS Actual 1.050 0.880 0.570 0.64 Stock Performance Over the past 52-week period, shares of Jabil have declined 1.12%. Analyst estimates have not been modified for EPS and revenues over the past 90 days. The average rating by analysts on Jabil stock is a Neutral. The validity of this rating has risen over the past 90 days.Conference Call Jabil is scheduled to hold a conference call at 8:30 a.m. ET and it can be accessed here: https://78449.themediaframe.com/dataconf/productusers/jbl/mediaframe/36012/indexl.htmlSee more from Benzinga * Recap: Genesco Q4 Earnings * Lexicon Pharmaceuticals: Q4 Earnings Insights * Recap: BG Staffing Q4 Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Jabil (NYSE: JBL), a manufacturing solutions company, will announce its second quarter of fiscal year 2020 financials on Friday, March 13, 2020, before the market opens.
Jabil (NYSE: JBL) today announced it has been named to IDG’s annual CIO 100 list of innovative organizations that exemplify the highest levels of operational and strategic excellence in IT. This prestigious honor celebrates companies and award-winning IT projects that deliver business value, optimize business processes, enable growth and create competitive advantages. Jabil’s Citizen Data Science Program was recognized for its ability to empower employees with data-based knowledge, tools and new approaches for solving real-world business problems.
Jabil (JBL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Tampa Bay technology leaders are feeling the effects of coronavirus. Jabil Inc. and Tech Data Corp., two of the region's technology leaders and among Tampa Bay's largest public companies, have seen drops in their stock and are amping up precautions to address COVID-19, otherwise known as coronavirus. "Tech Data continues to monitor the coronavirus disease developments with a primary focus on ensuring the health and safety of our colleagues while mitigating business impacts for our channel partners," Bobby Eagle, Tech Data's director of external communications, said in an email to the Tampa Bay Business Journal.
Fear over the Coronavirus is causing a massive drop in the stock market and Tampa companies are feeling the effects.
Tech firms with exposure to China's manufacturing base are feeling the impact of factory closures and slower-than-expected return of production following the coronavirus outbreak.
Apple supplier Jabil Inc said on Tuesday that its second-quarter earnings will be hit by the coronavirus epidemic. The coronavirus outbreak, which has resulted in more than 2,600 deaths in mainland China, has pushed a number of companies including the iPhone maker to warn of a profit hit as they grapple with disruptions in the global supply chain. Jabil said its factories were running at roughly 65%-70% capacity as the epidemic continues to spread.
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...