Sanmina Soars 19% on $17.5B AI-Driven Outlook; Microvast Collapses 53%

Sanmina jumped 19.2% to $178.35 in extended trading Monday after guiding fiscal 2027 revenue to $17.5-$19.5 billion — roughly 27% growth at the midpoint — powered by its first full year with the ZT Systems AI rack business it bought from AMD. Microvast went the other way. The battery maker lost more than half its value, falling 53.8% to about $0.29, after a 63% revenue drop and a blunt warning that its cash will not cover obligations over the next 12 months.

By Rebecca Stone, Chip Dispatch

The two moves bracketed a busy after-hours board. Sanmina's fiscal fourth-quarter revenue climbed 84% to $3.86 billion, and the stock's 5:48 p.m. ET print on Yahoo Finance marked the biggest gain among Monday's after-close reporters.

What happened to Microvast?

Microvast fell from a $0.62 close to about $0.29 as of 6:01 p.m. ET — a 53.8% collapse, the steepest on the board. Third-quarter revenue dropped 63% to $45.8 million. The company said that without new financing, a debt refinancing or deeper cost cuts, its cash won't cover its obligations for the next 12 months. Most of the damage came after 5 p.m. ET, on only small trades.

Who else gained?

Securitize, which listed on the NYSE in July, rose 14.8% to $8.00. The tokenization firm reported record average tokenized assets of $5.0 billion, revenue up 13% to $18.6 million, an agreement to buy River One, and a $50 million buyback.

AAON gained 13.8% to $71.55 — even while restating its first- and second-quarter financial statements and disclosing a material weakness in internal controls. Data center cooling sales lifted revenue 84% to a record $707.4 million, and the company raised its 2026 sales growth outlook to 72%-75%, up from 55%-60%.

Onto Innovation climbed 8.2% to $209.89 on record revenue of $409.7 million, fourth-quarter guidance of $430-$450 million and a backlog above $1.3 billion.

Take-Two added 4.0% to $215.74. Net bookings fell 18% to $1.60 billion, slightly below its own range, but the company kept its fiscal 2027 bookings outlook of $8.0-$8.2 billion ahead of the Nov. 19 launch of Grand Theft Auto VI.

Why did beat-and-raise stocks fall?

Qualys dropped 8.1% to $186.00 despite raising its 2026 revenue outlook to $736.9-$738.9 million from $732.0-$738.0 million — lifting only the bottom of the range — and guiding fourth-quarter revenue to $191-$193 million. The security software firm grew revenue 11%.

Rocket Lab fell 5.7% to $55.50. Third-quarter revenue rose 73% to a record $267.8 million and backlog grew 52% in the quarter to about $3.57 billion. But the company pushed the first launch of its Neutron rocket to no earlier than 2027, and traders sold the delay.

Hims & Hers slipped 2.8% to $22.30 after cutting its 2026 adjusted EBITDA outlook to $257-$277 million from $275-$325 million. Zeta Global fell 4.2% to $31.05 even though revenue rose 46% and the 2026 outlook went up. Lucid dropped 3.3% to $3.48; cash burn fell 30% and an increased PIF loan funds the company into Q4 2027.

A few names barely moved: The Trade Desk down 0.7%, AST SpaceMobile down 0.8% and Occidental up 0.4% shortly before 6 p.m. ET.

Extended-trading volume is thin, and these prices can shift sharply before Tuesday's open. Still, the split is telling: traders paid up for AI-hardware-driven growth measured in billions, and ran from a going-concern warning measured in months.