2024-02-03 06:47:45 ET
Summary
- AVT's Q2 FY2024 results show declining sales and profitability due to weak demand and semiconductor inventory absorption.
- The company's future guidance indicates further decline in sales and profits, with no significant recovery in sight.
- AVT is trading at a cheap valuation, but its worsening financial performance suggests limited upside potential in the stock price. Hold rating recommended.
Investment Thesis
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Avnet: Worsening Financial Performance With No Imminent Signs Of Recovery