On June 1, Flex Ltd fell 3.17% in regular trading, trading at $148.635/share, with trading volume of $140 million. The decline came as the Electronic Manufacturing Services sector experienced broad-based selling pressure following a sustained rally driven by the company's announcement to spin off its high-growth Cloud and Power Infrastructure (CPI) business into an independent publicly traded entity.

The CPI business, which focuses on AI data center power and thermal management technologies including power products, embedded solutions, and cooling systems, had fueled significant upside momentum in recent sessions. However, after consecutive gains, short-term profit-taking pressure emerged across the sector. Among peer stocks, Fabrinet fell 4.23%, TTM Technologies declined 3.19%, and TE Connectivity dropped 1.16%, while Celestica gained 2.12% and Sanmina edged up 0.25%.

Flex reported fiscal year revenue of $27.91 billion with year-over-year growth of 8.14% and net income growth of 5.01%, with the CPI segment contributing $6.61 billion or 23.69% of total revenue. The fundamental backdrop remains supportive, though near-term technical consolidation appears to be driving the current pullback.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)