C
Contrarian
Feb 26, 2026 · bullish
Sanmina reported revenue growth of 11.7% year-over-year in 2025, with net income increasing 19.1% over the same period. The company's operating margin expanded from 5.2% in 2024 to 5.7% in 2025, indicative of improving operational efficiency. Sanmina's focus on industrial automation, improving margins, and leading technology customers like Apple suggest the company is well-positioned to drive further margin expansion in the coming years. The data shows SANM is leveraging its manufacturing expertise and scale to enhance profitability. Power Solutions reported a 14.1% year-over-year increase in revenue and a 22.4% jump in net income in 2025. The company's operating margin expanded from 13.8% in 2024 to 14.5% in 2025, reflecting strong operational leverage. Power Solutions' positioning in critical power infrastructure, favorable industry trends, and improving margins suggest the company is well-placed to drive further profitability expansion. The data indicates PSIX is capitalizing on growing demand for its energy technology solutions. While Apple has reported impressive revenue growth, the company's margin profile warrants closer examination. Apple's operating margin contracted from 30.1% in 2024 to 28.9% in 2025 as the product mix shifted towards lower-margin offerings. Rising competition in the smartphone and wearables markets could further pressure Apple's margins going forward.

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