TD SYNNEX posts a record Q2 FY2026 as AI-driven infrastructure demand and Hyve Solutions growth fuel strong results, with hyperscaler wins and distribution strength.
Valuation Assessment of TD Synnex Corp (SNX) On June 26, 2026, TD Synnex Corp (SNX) shares fell 4.1% to a current price of $266.27. This decline comes after a
TD SYNNEX is a leading tech distributor connecting hardware, software, and cloud vendors with enterprise customers and resellers. I reiterated a Buy rating on SNX, citing market underestimation of earnings durability and attractive valuation. SNX's Hyve business offers long-term upside through expanding AI infrastructure opportunities.
TD SYNNEX delivered a robust Q2 2026, with revenue up 31% y/y and adj. EPS is up 62% y/y, supporting a reiterated buy rating. Hyve's rapid scaling—117% y/y adj. gross billings growth—now drives a larger share of SNX's operating profit, with visibility into further hyperscaler ramps. Distribution remains healthy, with 22% y/y gross billings growth and strategic wins like HPE's global partnership, broadening SNX's AI-driven demand exposure.