. During the first half of fiscal 2024, Sanmina?s revenues declined 21% year over year, with weakness from the telecommunications end market. However, recent traction in new business wins showed that customers? uncertainties have begun to settle somewhat and informs our forecast for a recovery in 2025. We expect revenues to decline 15% in fiscal 2024 before rebounding to 13% growth in 2025. Additional factors that we believe support a return to growth include our expectation for a recovery in Sanmina?s telecommunications equipment business, which was constrained by supply shortages in the first half of fiscal 2024, an expansion of its artificial intelligence (AI)-related cloud infrastructure business, and the ongoing normalization of customers? inventory levels. We expect the industrial, medical,
