How Celestica (CLS) Is Strengthening Its AI Infrastructure Case

Celestica Inc. (NYSE:CLS) is one of the best stocks to buy according to Goldman Sachs’ Conviction List. Goldman added Celestica to its U.S. Conviction List in December, saying the company was positioned to benefit from continued spending growth by hyperscale and other large AI customers. The firm had a Buy rating on the shares with a $440 price target at the time.

The AI infrastructure angle has since gained more company-level support. On April 27, Celestica reported Q1 2026 revenue of $4.05 billion, up 53% year-over-year, and adjusted EPS of $2.16, compared with $1.20 a year earlier. Its Connectivity & Cloud Solutions segment revenue rose 76% to $3.24 billion, while Hardware Platform Solutions revenue increased 63% to about $1.7 billion. Celestica also raised its 2026 outlook to $19.0 billion in revenue and $10.15 in adjusted EPS, up from prior expectations of $17.0 billion and $8.75.

The company also said it received a hyperscaler program award for a co-packaged optics Ethernet switch optimized for AI scale-out networks, with production expected to start ramping in 2027. That gives the Goldman thesis a fresh product-cycle tailwind rather than just “AI demand” soup poured over the stock.

Celestica Inc. (NYSE:CLS) provides design, manufacturing, hardware platform, and supply chain solutions for global technology companies.

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