Tariff worries between the US and China are again in the headlines, and supply chains built around low cost Chinese production now face fresh questions about rules, origin labels and future tariffs. That pressure can hurt some stocks and create room for others that help companies bring production closer to home. This article looks at three stocks exposed to these trade risks and explains why each might matter for your portfolio watchlist.

The three stocks below are just a starting sample from this theme, and the full screen surfaced 35 more companies with equally interesting onshoring and supply chain narratives that are not covered here. If you want to go beyond the shortlist and quickly identify which names best fit your own thesis, head straight into the North American Onshoring & Supply-Chain Diversification Beneficiaries screener.

Sanmina (SANM)

Sanmina is a US based electronics manufacturing and supply chain partner that designs, builds, and services complex products for customers in industries like cloud infrastructure, communications networks, medical, defense, and automotive. The bulk of its revenue comes from the Integrated Manufacturing Solutions business at about US$11.0b, with a further US$1.9b from Components, Products and Services. This highlights its focus on full system builds as well as critical sub assemblies. At a market cap of roughly US$11.3b, Sanmina sits in mid cap territory, where execution on large customer programs can materially influence investor sentiment.

Tariff worries are pushing many original equipment manufacturers to rebalance production away from China centric supply chains, and Sanmina is positioned squarely in that shift thanks to its large US and Mexican footprint and global IT and logistics platform. Management stresses that tariff costs are largely passed through to customers and that programs can be relocated between regions, which could appeal to companies seeking resilient onshoring or nearshoring options. At the same time, investors need to weigh margin pressure, reliance on external borrowing, customer concentration, and recent insider selling against strong earnings forecasts and growing demand for AI and data center hardware. For investors tracking how trade policy is reshaping electronics manufacturing, Sanmina is a stock that deserves a closer look.

Sanmina sits at the crossroads of tariff pressure and AI hardware demand, yet the real story lies in the details of its contracts, margins, and balance sheet strength. Get the full picture in the analysis report for Sanmina

Build your own tariff resilient hardware shortlist

Sanmina and the two other stocks in this article all surfaced from a single Simply Wall St screen, but the real edge comes from setting filters that match your own view on tariffs, onshoring, margins, and balance sheet strength. Use our customisable Screener to combine valuation, growth, quality and risk metrics in one place, or jump straight into our curated Investing Ideas for ready made starting points.

Jabil (JBL)

Jabil is a global manufacturing and supply chain solutions company that designs and builds everything from cloud data center hardware and automotive assemblies to healthcare devices and connected home products. It generates most of its revenue from Intelligent Infrastructure at about US$15.8b, followed by Regulated Industries at roughly US$12.4b and Connected Living and Digital Commerce at about US$5.4b. With a market cap of around US$38.0b, Jabil sits firmly in large cap territory.

Jabil is squarely in the spotlight as customers look to shift production closer to the US and Mexico in response to tariff worries and stricter rules on Chinese content. Management highlights that most tariff costs are passed through and that about 80% to 90% of Mexico production is USMCA compliant, which can matter a lot for US bound hardware. At the same time, investors need to balance strong AI infrastructure demand, high forecast earnings growth and expanding facilities in India against a leveraged balance sheet, segment softness in areas like EVs and Connected Living, and the broader uncertainty around future trade rules. The full story for Jabil is less about a single headline and more about how resilient its cash flows remain if tariffs broaden further and customers start to rethink volumes.

Jabil’s USMCA compliant Mexico hubs and cloud hardware exposure are getting attention, but many investors may be missing how its balance sheet and cash flows fit together. Get the full story in the Jabil financial health report

Flex (FLEX)

Flex is a global manufacturing and supply chain solutions company that helps customers design, build, and scale products across data center, communications, consumer, automotive, healthcare, industrial, and power markets. It generates about US$11.6b from Integrated Technology Solutions, US$10.5b from Regulated Manufacturing Solutions, and US$7.2b from Cloud and Power Infrastructure, which gives it broad exposure across both everyday electronics and AI ready power and cooling hardware. Flex has a market cap of roughly US$46.6b, placing it firmly in large cap territory.

Flex sits at the intersection of two big themes: customers want more resilient, regional manufacturing, and they also need far more power, cooling, and hardware for AI heavy data centers. The CPI segment, which focuses on cloud and power infrastructure, has been a key focus in recent results and is expected to be separated into a dedicated SpinCo, which could sharpen how investors value that part of the business. At the same time, Flex relies heavily on a short list of large customers and runs on relatively thin margins, while also carrying meaningful debt and planning a capital intensive build out. For investors who want exposure to onshoring and AI infrastructure but are mindful of execution and balance sheet risks, Flex is a stock worth understanding in more detail.

Flex’s AI and power build out could be masking the real story in its contracts, margins, and debt profile. See how these moving parts fit together in the analysis report for Flex

Seeking Fresh Alternatives Before They Fly

Fresh ideas can move from quiet accumulation to full breakout quickly. Screens spotlight stocks while they still sit under the radar for now. Do not get caught dropping behind, consider acting promptly.

• Identify potential turnaround stories early by scanning the 52 high quality undervalued stocks and focusing on companies that still appear overlooked while the crowd follows prior momentum.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.