TD SYNNEX has a perfect 4-for-4 earnings beat streak with earnings in 9 days, strong positive momentum with RSI at 79, and positive LLM news sentiment of +0.58 across 10 recent articles, but trades well above analyst targets with negative asymmetry and below-floor business quality from thin distribution margins.
Thesis pillars
- Excellent Free Cash Flow Conversion→Stable
- Perfect Beat Streak Imminent Catalyst↑Improving
- Strong Momentum At 52w High↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Jan 27, 2026· older than 90 days
TD SYNNEX Corporation (SNX) Stock Analysis
Technology · Electronics & Computer Distribution
Sell if holding. Engine safety override at $230.39: Quality below floor (2.7 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 6.4/10 and A.R:R 3.4:1 is above the 1.5:1 BUY gate. Specifically: Below-average business quality; Negative price momentum.
TD SYNNEX is a Fortune 100 global IT distributor, selling hardware, software, and systems from ~2,500 OEM suppliers to 150,000+ resellers across Americas, Europe, and APJ segments. The company earns thin distribution margins plus logistics, cloud, and integration services; Apple... Read more
Sell if holding. Engine safety override at $230.39: Quality below floor (2.7 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 6.4/10 and A.R:R 3.4:1 is above the 1.5:1 BUY gate. Specifically: Below-average business quality; Negative price momentum. Chart setup: No clear chart pattern; technical signals are mixed. Score 6.4/10, moderate confidence.
Passes 5/7 gates (favorable risk/reward ratio, clean insider activity, earnings proximity 63d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum. Suitability: aggressive.
About TD SYNNEX Corporation
About TD SYNNEX Corporation
Apple Inc. products represented 12% of TD SYNNEX's total revenue in fiscal year 2025, and HP Inc. products represented 10%, with one undisclosed customer accounting for 11% — concentrations that define the distributor's OEM and customer dependence profile. TD SYNNEX sold to more than 150,000 reseller customers globally across Americas, Europe, and APJ segments, with approximately 48% of consolidated FY2025 revenue from international operations and 24,000 full-time co-workers at November 30, 2025.
TD SYNNEX earns thin gross margins on product resale, supplemented by higher-margin services including systems design and integration (the Hyve business serving hyperscale customers), logistics, cloud, depot repair, and customer management. Revenue from Apple and HP Inc. each exceeded 10% of total in fiscal year 2025, making both relationships material under the company's own disclosed metrics. The company buys from approximately 2,500 OEMs under short-term distribution agreements that may be terminated without cause on short notice, giving suppliers the ability to change pricing, rebates, and geographic scope. Key competitors in IT distribution include Ingram Micro Holding Corporation, Arrow Electronics, and Westcon-Comstor; in the hyperscale infrastructure segment, competition comes from Jabil Inc., Celestica, Flex Ltd., Quanta Computer, and Wiwynn Corporation.
Show full overview
TD SYNNEX's design and integration solutions business — serving hyperscale computing infrastructure customers — carries particularly concentrated customer exposure. The 10-K notes that the systems design and integration product line has significant customer concentration, often requires investments in working capital and infrastructure, and may have customer contracts offering limited or no volume guarantees. The loss of a single customer from this segment could adversely affect revenue, inventory provisions, and overhead absorption — risks that sit alongside the Apple Inc. and HP Inc. supply-side concentrations, where each individual OEM supplier agreement is typically short-term and terminable without cause.
See also: Technology · Electronics & Computer Distribution
From TD SYNNEX Corporation's most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated Nov 5, 2026Recent Developments — TD SYNNEX Corporation
Latest news
- NEWS Reported Earlier, Tech Data Advanced, A TD SYNNEX Company, Announced Strategic Partnership With SISA To Expand Cybersecu — benzinga Nov 5, 2026 positive
- NEWS TD SYNNEX Releases Fifth Annual Direction of Technology Report — fiscal.ai Nov 4, 2026 neutral
- NEWS TD SYNNEX Expands Palo Alto Networks Distribution to Switzerland — fiscal.ai Nov 4, 2026 positive
- NEWS Infiterra Announces Integration Development with TD SYNNEX — fiscal.ai Nov 2, 2026 neutral
- NEWS TD SYNNEX Wins Global and Regional Distributor of the Year Honors at Cisco Partner Summit 2026 — fiscal.ai Oct 28, 2026 positive
Latest item Nov 5, 2026 · Generated 2026-11-05T11:34:08Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- LOWSupplierApple Inc.12%10-K Item 1A: 'sales of Apple Inc. products and services comprised approximately 12%, 12%, and 11% of our total revenue for fiscal years 2025, 2024, and 2023, respectively'
- LOWSupplierHP Inc.10%10-K Item 1A: 'sales from HP, Inc. comprised approximately 10% of our total revenue for fiscal year 2025'
- LOWCustomerone customer11%10-K Item 1: 'One customer accounted for 11%, 12% and 11% of our total revenue in fiscal years 2025, 2024 and 2023, respectively'
- MEDIUMGeographicinternational operations48%10-K Item 1: 'Approximately 48% of our consolidated revenue for fiscal year 2025 was generated by our international operations'
Material Events(8-K, last 90d)
- 2026-05-11Item 5.02LOWTD SYNNEX updated offer letter with Dennis Polk as Chair, Hyve Solutions Holdings, effective December 1, 2025. Polk continues in the role; compensatory terms updated. No departure cited.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
2 floor-breakers·2 ceiling hits
Quality below the gate floor. Component breakdown shows what dragged the score down.static
Momentum below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $230.39: Quality below floor (2.7 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 6.4/10 and A.R:R 3.4:1 is above the 1.5:1 BUY gate. Specifically: Below-average business quality; Negative price momentum. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $215.26. Score 6.4/10, moderate confidence.
Analyst target: $295.48 (+28.3% upside). Prior stop was $215.26. Stop-loss: $215.26.
Quality below floor (2.7 < 4.0).
TD SYNNEX Corporation trades at a P/E of 14.0 (forward 9.4). TrendMatrix value score: 8.9/10. Verdict: Sell.
17 analysts rate SNX, with a consensus score of 4.2/5. 11 analysts publish price targets averaging $340.
What does TD SYNNEX Corporation do?TD SYNNEX is a Fortune 100 global IT distributor, selling hardware, software, and systems from ~2,500 OEM suppliers to...
TD SYNNEX is a Fortune 100 global IT distributor, selling hardware, software, and systems from ~2,500 OEM suppliers to 150,000+ resellers across Americas, Europe, and APJ segments. The company earns thin distribution margins plus logistics, cloud, and integration services; Apple represented 12% and HP Inc. 10% of FY2025 revenue. About 48% of consolidated revenue came from international operations.