Celestica Inc (CLS-T)

Looks good. He'd pick CLS, as it's in a nice upward trend. More potential upside.

This area of the market has seen massive demand, largely driven by AI and the buildout of data centres. Outlook is quite strong. Valuation quite reasonable. Very well run. Future isn't as certain within the semi sector. His preference is TSM or NVDA.

A darling. The story remind him of Dell, which assembles technology from other companies in a product for you to use. This raises questions of pricing power and technological differentiation. He has similar questions about CLS. As well, electronic manufacturing companies generally don't have great operating margins; a digestion phase in the markets would be a challenge for them.

Be cautious of names that get attached to the AI bandwagon. News like DeepSeek can also compress the multiples of the AI derivative plays.

Not in his fund, but in separately managed accounts. Fantastic job on the supply side. 12-month price target of $199. If you own it, hold on. Add around $148, and another 1/3 around $140.

CLS did raise guidance a little bit, but the stock declined about 4% after the news release. Analysts had expected more of a material raise in guidance. Still, the quarter was good, and the stock is cheap at 19X earnings. We would be comfortable on the buy side here still.
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Good company. Benefited from a lot of things that may change, like sentiment on AI. He'd wait to see whether its expenditures come off from the big companies, which could prompt more volatility.

Its volume traded has picked up over the past couple of years as its stock has performed well, but per our rough math on a weekly basis it has been trading about 4% of its total outstanding shares. 

CLS has about 116M shares outstanding, and the average daily volume in 2025 is about 1M shares. On a 5-day week, that means roughly 5M shares trade out of 116M total outstanding. It is pretty liquid at a $13.5B market cap, and while it has declined significantly alongside the broader market, we continue to like the name.
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Canadian manufacturing company that will benefit from AI revolution.

He's taking a look. Its business will have steady demand. Many companies absolutely depend on it, and that's the advantage.

Tariffs are being seen to hit the tech space to a greater degree. He doesn't know why this name in particular is being targeted. Believes all the tech stocks being hit today will bounce from here, though he's skeptical about a long-term trend up.

If you absolutely need the cash tomorrow, sell today. Otherwise, wait a day or two for a bounce.

They cleaned up their balance sheet and bought back a lot of shares, but when they hit on the AI data centre theme, it took off. Their last quarter was great. Growth is there and their valuation beats almost all other data centre stocks. Are growing their backlog. You can buy it now.

He follows this, is on his shopping list. It's a great AI connectivity stock. Their CCS segment saw massive demand in 2024, increasing market share. They project revenue this year just under $10 billion. Margins in this sector are slim, so volume is key, which CLS is good with.