Sanmina's stock plummeted 7.97% in pre-market trading, extending losses from the previous session. The manufacturing solutions provider reported first-quarter results that showed a significant decline in profitability compared to the same period last year.

The sharp decline came despite the company beating analyst expectations for the first quarter. Investors reacted negatively to Sanmina's second-quarter outlook, which fell short of market expectations for both revenue and adjusted earnings per share.

Additionally, the company's quarterly profit showed a substantial decline, with net income dropping to $49.3 million compared to $65.0 million in the same period last year, contributing to the negative market sentiment despite strong demand in certain business segments.