JBL - This Incredibly Cheap Stock Is Up 53% in 2023 and It Is Still a Screaming Buy
2023-08-24 09:05:00 ET
Jabil (NYSE: JBL) may not be a fashionable name among tech investors as the company does the "boring" job of providing contract-manufacturing services to customers in various industries, such as automotive, mobility, cloud computing, and networking (among others), but the stock has set the market on fire in 2023 with terrific gains of 53%.
This means Jabil stock has outperformed the tech-laden Nasdaq-100 Technology Sector index's gains of 37% by a handsome margin. Given that Jabil gets a nice chunk of its revenue by providing contract-manufacturing services to Apple (NASDAQ: AAPL) , there is a good chance that the stock could keep up its momentum for the rest of the year. And more importantly, the markets that Jabil serves suggest that the company could deliver robust long-term growth.
Let's look at the reasons why buying this stock looks like a no-brainer.
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This Incredibly Cheap Stock Is Up 53% in 2023, and It Is Still a Screaming Buy