JP Morgan downgrades Ingram Micro, Insight on weaker 2026 outlook

Shares of IT firm Ingram Micro Holding INGM.N fall 3.1% at $22 premarket after J.P. Morgan downgrades stock from "neutral" to "underweight"

Brokerage says investor enthusiasm may be limited by weak enterprise spending in 2026, as softness in core service spreads to hardware; adds there is a high likelihood of PC demand to likely cool after strong 2025 volume cycle

Insight Enterprises NSIT.O also downgraded to "underweight"

J.P. Morgan cuts PT to $90 from $117 on similar concerns

NSIT dips 1.5% at $81.63

Uncertainty in enterprise spending and demand sensitivity to price hikes will make 2026 challenging, especially relative to peers with stronger AI infrastructure exposure, JP Morgan says

Both companies face valuation discounts relative to peers, JPM notes but still remains cautious on outlook for both stocks

As of last close, INGM stock up 17.1% YTD, while NSIT down 45.5%