Synnex Corporation (SNX)

Sep 25, 2026

TD Synnex reported strong fiscal Q3 2026 results, exceeding analyst expectations for both EPS and revenue, and provided optimistic guidance for Q4. The company's CEO, Patrick Zammit, highlighted strong performance in Distribution and Hyve segments and expressed confidence in long-term growth driven by Enterprise AI adoption and data center modernization. Following these results, Morgan Stanley and UBS analysts raised their price targets for TD Synnex stock.

Sep 25, 2026

TD Synnex (SNX) reported record Q3 2026 earnings, with non-GAAP gross billings surging 40% year-over-year to $31.8 billion, driven by strong growth in both its Distribution and Hyve segments, especially in AI-related technologies. While non-GAAP operating income and EPS significantly exceeded guidance, the company experienced substantial free cash flow consumption due to increased inventory and working capital investments in Hyve, impacting operating margins in that segment. Despite these pressures, the company remains optimistic about future growth, particularly in the data center and AI markets, and expects cash flow generation to normalize as new Hyve programs mature.

Sep 25, 2026

TD SYNNEX stock fell sharply despite beating Q3 expectations and issuing strong guidance, primarily due to investor concerns over negative free cash flow, significant working-capital build, and contracting gross margins as its Hyve Solutions business rapidly expands. The company highlighted strong data center demand and new AI infrastructure opportunities. Despite the stock drop, the company's Q4 outlook beat estimates.

Sep 24, 2026

TD Synnex reported strong Q3 2026 results with growth in both its distribution and Hyve segments, exceeding revenue and EPS expectations. However, the company experienced a significant $1 billion free cash flow burn this quarter due to rapid expansion and strained working capital, especially within its AI-driven Hyve segment which faces margin compression and inventory risk. Consequently, the author has downgraded SNX from Buy to Hold, citing concerns over unsustainable cash burn despite positive long-term growth prospects.

Sep 22, 2026

Dave Watts, MD of TD Synnex UK&I, stated that partners who effectively leverage their ecosystem will be the winners in the AI era, rather than those with the most internal capabilities. Speaking at the Explore event, Watts highlighted findings from TD Synnex's Direction of Technology report, which revealed that while most partners plan to invest in AI, only a small percentage see it as a meaningful revenue source. He emphasized that delivering AI solutions often requires diverse expertise across multiple partners, and TD Synnex aims to facilitate these collaborations through its vendor relationships and technical knowledge.