Jabil is IBD’s ‘stock of the day’
Investor's Business Daily highlighted Jabil (NYSE: JBL), the largest company in St. Petersburg, saying the contract manufacturer is earning plaudits for diversifying its business and improving profitability. Investor's Business Daily said Jabil was its "stock of the day" on Wednesday, as it trades near a 13-year high. Jabil climbed to $39.73 on Nov. 12 but has fallen back slightly since then and was trading at $39.29 near the close Wednesday. Jabil has posted seven straight quarters of double-digit gains in sales year over year, Investor's Business Daily said. While Apple (Nasdaq: AAPL) remains a major customer, Jabil has diversified, making more products for Apple than it used to, while also being less dependent on Apple for revenue.