Jabil's stock has rallied over 130% from its 52-week low on AI infrastructure optimism, but fundamentals are deteriorating: FY2025 diluted EPS collapsed to $5.92 from $11.17 in FY2024, while revenue remains below FY2023 peaks. The P/E of 48x stands at a 54% premium to the peer median of 31x, and insiders have been heavy net sellers, disposing of $185 million in shares over the past 24 months. This combination of declining earnings, stretched valuation, and insider conviction suggests the stock is overvalued and vulnerable to a correction.