Flex Ltd. (NASDAQ:FLEX) is one of the 10 Stocks Outperforming Wall Street With Monster Returns.
Flex extended its winning streak to a sixth straight session on Wednesday, hitting a new all-time high, as investors took heart from its strong earnings performance and news that it would spin off its cloud and power infrastructure business into a new publicly-traded firm.
At intra-day trading, the stock soared to its highest price of $134.99 before trimming a few cents to finish the session just up by 39.69 percent at $134.73 apiece.
Photo from Flex website
In an updated report on the same day, Flex Ltd. (NASDAQ:FLEX) said that it grew its net income for fiscal year 2026 by 5 percent to $880 million from $838 million in fiscal year 2025. Net sales grew by 8 percent to $27.9 billion from $25.8 billion year-on-year.
In the fourth quarter alone, net profit increased by 12.6 percent to $250 million from $222 million, while net sales increased by 17 percent to $7.5 billion from $6.4 billion in the same comparable period.
Looking ahead, Flex Ltd. (NASDAQ:FLEX) is targeting to grow its net sales for the first quarter of 2027 ending June by 14 percent at the midpoint to a range of $7.35 billion to $7.65 billion, while for full fiscal year 2027, net sales are projected at $32.3 billion to $33.8 billion, or an implied jump of 18 percent at the midpoint.
In other news, Flex Ltd. (NASDAQ:FLEX) said that it would separate its cloud and infrastructure business into a new independent publicly-listed company, in line with plans for the two firms to focus on their core businesses.
“By creating two focused, independent companies, we are giving SpinCo (spinoff company) the platform to build and scale the products and digital infrastructure that the world’s most demanding AI workloads depend on, and Flex the focus to deliver advanced manufacturing solutions at a global scale for diversified industries. We believe each company will have the strategic clarity and dedicated leadership to drive exceptional outcomes for its respective customers and shareholders. I’m excited to be part of the journey for both companies,” Flex Ltd. (NASDAQ:FLEX) CEO Revathi Advaithi said.
While we acknowledge the risk and potential of FLEX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FLEX and that has 10,000% upside potential, check out our report about the cheapest AI stock.
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