TORONTO, May 19, 2026, 13:04 EDT
- Celestica’s U.S. shares traded around $340.54 in early afternoon, down 0.6%. The stock dropped 4.4% on Monday.
- The Toronto listing fell roughly 5% when the TSX opened after being closed Monday for Victoria Day.
- Celestica shares are down less than a month after the company lifted its 2026 revenue and adjusted profit outlook.
Celestica Inc. shares dropped Tuesday as the stock in Toronto matched earlier losses seen in New York. Canada’s main exchange had just reopened after a holiday, and investors cut back bets on one of the top artificial-intelligence hardware gainers.
Celestica’s U.S.-listed stock was down about 0.6% at $340.54 as of 12:49 p.m. Eastern, after moving between $325.15 and $342.57 earlier in the day. On the Toronto Stock Exchange, shares fell 5.0% to C$469.91 shortly before, according to Bloomberg, a steeper drop that took into account Monday’s Victoria Day holiday, when the exchange was closed.
Celestica (NYSE: CLS) dropped 4.4% to $342.67 on Monday after falling 6.0% Friday. That came as the Canadian market stayed closed for the holiday, reopening Tuesday. U.S. exchanges traded as usual Monday. Their next May 2026 holiday break will be Memorial Day, set for May 25.
Shares of Celestica are reacting to price action more than to any new company news. The stock has been seen as a leveraged AI infrastructure trade—servers, networking switches, and other data center gear for AI training and operations. That leaves Celestica shares exposed when investors wonder how much anticipated growth is already built into the stock price.
Celestica posted first-quarter revenue of $4.05 billion, up 53% from last year, as demand kept up. Adjusted earnings per share came in at $2.16. That’s Celestica’s own profit measurement, stripped of certain items. Celestica raised its forecast for 2026, now calling for $19.0 billion in revenue and $10.15 adjusted EPS.
Celestica CEO Rob Mionis said with the April results that the company is seeing “accelerating growth” from its Connectivity & Cloud Solutions customers, which is the cloud and data-center segment. Mionis also pointed to “improved forecast visibility with our customers” as Celestica raised its targets. Celestica Inc.
Celestica gave an operating update that added to the long-term case, but that wasn’t enough to slow the selloff now. On May 13, the company said its Fort Worth, Texas, site will have over 1 million square feet for manufacturing and engineering and bring about 1,700 new full-time jobs. “Growing demand from customers for US-based capabilities” is behind the investment, chief operations officer Yann Etienvre said, calling the new space “highly strategic.” Celestica
Shares in Jabil, Flex and Sanmina all fell with the sector. Jabil dropped around 2.3%, Flex slipped 2.4%, and Sanmina lost 1.4% in U.S. trading. The QQQ ETF, tracking the Nasdaq-100, dipped about 0.4%.
Canada’s S&P/TSX Composite Index slipped 0.1% to 33,795.69, according to Reuters, as concerns about inflation and rising bond yields hung over the market. The broad market was only a touch softer, so Celestica’s drop stuck out more against its peers.
BMO Capital stuck with its Outperform call on Celestica and bumped the target to $450 from $370 in late April, citing hyperscaler spending and Celestica’s role in switching and Google TPU supply. Hyperscalers, or big cloud operators, spend heavily on data center gear.
The risk now is that Celestica needs to execute well instead of relying just on demand. Shares could slide if customer orders slow, data-center projects pause, or new programs take time to get going. The company warns that expansion, customer plans, and infrastructure bets are all forward-looking and carry big risks.
For now, the stock trades more like something investors still expect a lot from, not like a name in trouble. Management’s outlook got better in April. But this week’s price questions whether buyers went too far paying up for that improvement.
