Celestica (CLS.TO)(CLS) shares fell nearly 17 per cent on Thursday, as investors considered the software and hardware producer’s upsized spending plans for 2026. Once a part of IBM’s (IBM) Canadian subsidiary, Toronto-based Celestica describes itself as a leader in data centre infrastructure and advanced technology solutions. At the same time, Celestica says it’s eyeing 2026 capital spending of about $1 billion, or six per cent of its latest revenue guidance. RBC Capital Markets analyst Paul Treiber says the company pegged its 2026 spending plan at two to 2.5 per cent of revenue in its guidance last quarter. Earlier this week, he cut his price targets on seven Canadian technology stocks, citing risk from artificial intelligence (AI) disruption.

Source: CBC News January 29, 2026 21:31 UTC