Citing channel checks and second-quarter sluggishness, Labowitz said it will be "difficult to achieve even
our conservative numbers
for the September and December quarters."
Labowitz downgraded five companies to intermediate-term neutral from buy, including Sanmina,
were downgraded from intermediate-term neutral from accumulate.
All these stocks were struggling, with C-Mac down 8.3%, Celestica down 5.9%, JBL down 9.5%, Solectron down 8.4%, Flextronics down 7.1% and Plexus down 5.6%.