Why sanmina Is Trending Today?

Sanmina, a leading electronics manufacturing services provider, has announced its financial results for the second quarter of 2022. The company reported revenue of $2.1 billion, up 11% year-over-year, driven by strong demand across its end markets. Sanmina's earnings per share came in at $0.75, beating analysts' expectations. The company also provided guidance for the third quarter, expecting revenue to be in the range of $2.15 billion to $2.25 billion.

AMD has sold its ZT Systems data center manufacturing unit to Sanmina, a significant move that allows AMD to focus more on high-margin chip design while Sanmina strengthens its position in the AI and data center infrastructure market. The deal, valued at around $2.4 billion, was finalized in late 2022, with AMD retaining its AI design expertise to enhance its cloud solutions. This acquisition makes Sanmina a top ally for AMD in the AI and data center space, as AMD aims to streamline its data center business and intensify its involvement in the AI rack wars.