Celestica Inc. (CLS) Is Up Huge, Says Jim Cramer

We recently published 13 Stocks That Jim Cramer Recently Talked About. Celestica Inc. (NYSE:CLS) is one of the stocks Jim Cramer recently discussed.

Celestica Inc. (NYSE:CLS)is a Canadian supply chain products and company. The shares have gained a whopping 124% year-to-date and soared by 20.4% in July after the firm’s second-quarter earnings to make it Canada’s third-most valuable firm. Celestica Inc. (NYSE:CLS)’s earnings results saw it beat analyst revenue and EPS estimates and also increase its full-year guidance. Cramer attributed the performance to general bullishness surrounding tech:

“Against that, take Celestica, which is up huge, CLS, they’re a manufacturer for tech. David was talking about tech during the break, tech is good today.”

Here’s what the CNBC TV host said about Celestica Inc. (NYSE:CLS) later during the day in Mad Money:

“Not even the incredible earnings news from Cadence Design Systems, also a fave of the show, and Celestica could help things. Cadence, a good partner of NVIDIA, blew away the numbers with a tremendous quarter. But who cares? I mean, we knew their business was great. Same with Celestica, which, along with Sanmina and FLEX LNG, belong in an elite camp of contract manufacturers devoted largely to tech. They have more than their fair share of orders. It’s a great time to be in that line of work, as we know, when we had FLEX on recently, after their amazing quarter.”

While we acknowledge the potential of CLS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.