Avnet shares have jumped 81.5% year to date, outpacing the Zacks Electronics - Parts Distribution industry's 63% gain. The company reported fiscal third-quarter revenue of $7.1 billion, up 34% year over year, driven by strong demand in AI infrastructure, networking, and industrial markets. Management noted that direct exposure to AI and data center customers has grown to nearly 10-15% of the business, up from 5-7% previously. Avnet expects fourth-quarter revenue between $7.3 billion and $7.6 billion, and the Zacks Consensus Estimate for fiscal 2026 revenue stands at $25.59 billion. Despite the rally, the stock trades at a price-to-sales multiple of 0.27, below the industry's 0.39, and carries a Zacks Rank of 2, or Buy.
Avnet IncStrong AI infrastructure and data center demand driving revenue growth
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