TD SYNNEXNYSE: SNX

I recommend a Buy rating for TD Synnex Corp. due to growth tailwinds in PC demand, AI PCs, and IT complexity from AI adoption. SNX distributes IT hardware and software solutions for the IT ecosystem, working with industry leaders like Apple, AWS, Cisco, and Google. The recent share price drop is likely due to profit taking and miss in guidance.

While an increase in gross-to-net revenue adjustments weighs on TD SYNNEX's (SNX) Q2 revenues, efficient cost management aids profitability.

TD SYNNEX (SNX) came out with quarterly earnings of $2.73 per share, missing the Zacks Consensus Estimate of $2.76 per share. This compares to earnings of $2.43 per share a year ago.

FREMONT, Calif. & CLEARWATER, Fla.--(BUSINESS WIRE)--TD SYNNEX (NYSE: SNX) today announced financial results for the fiscal second quarter ended May 31, 2024. Consolidated Financial Highlights for the Fiscal 2024 Second Quarter:   Q2 FY24   Q2 FY23   Net Change from Q2 FY23 Revenue ($M)   $ 13,947.9     $ 14,062.1     (0.8 )% Non-GAAP gross billings ($M)(1)   $ 19,304.6     $ 18,715.9     3.1 % Gross profit ($M)   $ 973.5     $ 963.4     1.0 % Non-GAAP gross profit ($M)(1)   $ 973.5     $ 968.6.

FREMONT, Calif., & CLEARWATER, Fla.--(BUSINESS WIRE)--TD SYNNEX announced that Patrick Zammit will become Chief Executive Officer, succeeding Rich Hume, who will retire after a transformative CEO tenure.

Evaluate the expected performance of TD SYNNEX (SNX) for the quarter ended May 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

TD SYNNEX (SNX) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Investors with an interest in Electronics - Miscellaneous Products stocks have likely encountered both TD SYNNEX (SNX) and Trimble Navigation (TRMB). But which of these two companies is the best option for those looking for undervalued stocks?

FREMONT, Calif. & CLEARWATER, Fla.--(BUSINESS WIRE)--TD SYNNEX announced its near & long-term science-based emissions reduction targets have been approved by the Science Based Targets initiative (SBTi).