What Happened?
Shares of electronics manufacturing services provider Jabil (NYSE: JBL) jumped 4.8% in the afternoon session after Akamai authorized the company (Jabil) to buy approximately $1.7 billion of memory components on its(Akamai) behalf. Akamai Technologies said in a filing that it authorized Jabil to purchase about $1.7 billion of memory components, according to the company's press release. The same day, Akamai said it expanded its agreement with Anthropic to $11.6 billion of contractual commitment over seven years. Akamai said capital spending tied to that commitment is about $5.5 billion, and that 2026 capital spending would rise by about $1.7 billion to pre-purchase components, including memory. Jabil was already Akamai's contract manufacturer under the 2019 agreement. The new fact is the size of the memory order behind the Anthropic buildout. The filing does not say how much of the $1.7 billion Jabil keeps.
After the initial pop, the shares cooled down to $319.80, up 2.9% from the previous close.
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What Is The Market Telling Us
Jabil’s shares are very volatile and have had 25 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 11 days ago when the stock dropped 5.1% on the news that Goldman Sachs lowered its price target on the company's shares to $375. According to StreetInsider, Goldman Sachs analyst Mark Delaney adjusted the firm's price target downward, reflecting a more cautious valuation stance on the electronic manufacturing services company. When a major Wall Street institution reduces its price objective, investors frequently recalibrate their expectations regarding the company's near-term valuation. The lowered target from Goldman Sachs dampened investor sentiment in early trading, leading to selling pressure as market participants reacted to the revised analyst forecast.
Jabil is up 33% since the beginning of the year, but at $319.80 per share, it is still trading 17.1% below its 52-week high of $385.63 from June 2026. Investors who bought $1,000 worth of Jabil’s shares 5 years ago would now be looking at an investment worth $5,128.
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