TD SYNNEX CORPORATION Stock Price, News & Analysis

The partnership between Domino Data Lab and TD SYNNEX aims to enhance AI infrastructure adoption and accelerate model development across the TD SYNNEX ecosystem, which serves over 150,000 customers globally. The collaboration allows TD SYNNEX to distribute Domino's Enterprise MLOps platform, addressing significant challenges in scaling data science identified by recent surveys. Research shows 37% of companies consider AI essential for growth, while 27% struggle with inadequate data science tools. This partnership is expected to streamline procurement processes, democratizing access to critical AI resources and facilitating faster innovation for enterprises.

TD SYNNEX (NYSE: SNX) launched the SMB Fraud Defense Click-to-Run™ solution, integrating Microsoft Azure services for small and medium businesses (SMBs) to combat increasing cloud-based threats. This solution enhances security through phishing prevention and proactive alerts. Acknowledging a surge in cyber threats, a 2022 KPMG survey indicated that 62% of companies in the Americas experienced data breaches. Additionally, the average cost of a breach has reached $4.35 million, with small businesses spending around $955,000 per attack. The new offering aims to establish consistent security baselines amidst rising cybercrime.

TD SYNNEX (NYSE: SNX) has published its inaugural Global Technology Ecosystem Benchmark Report, unveiling key trends and opportunities in the IT sector for 2023 and beyond. The report identifies five critical insights, including a strong emphasis on entering new vertical markets and expanding cloud portfolios. Additionally, it highlights significant missed opportunities in the AR/VR market, potentially worth $800 billion by 2024.

TD SYNNEX Corporation (NYSE: SNX) announced the launch of its Catalina 2 Platform, utilizing Intel's 4th Gen Xeon Scalable processors. Designed for diverse workloads, it includes three motherboards (1S, 2S, 4S) and supports up to 4TB memory capacity. The 4S system is touted as the highest throughput air-cooled 1U server on the market, aimed at sectors like AI and data analytics. Hyve Solutions, a subsidiary of TD SYNNEX, emphasizes its commitment to innovating hyperscale digital infrastructures tailored to client needs.

TD SYNNEX (SNX) reported strong financial results for the fiscal fourth quarter and year ended November 30, 2022. Q4 revenue reached $16.2 billion, a 4.1% increase year-over-year, with non-GAAP diluted EPS at $3.44, exceeding guidance by $0.34. For fiscal 2022, total revenue was $62.3 billion, up 97.2% mainly due to the merger with Tech Data. The company returned $240 million to shareholders and declared a $0.35 quarterly dividend, a 17% increase from the prior quarter. Despite currency headwinds, TD SYNNEX expects a strong performance in 2023.

TD SYNNEX (NYSE: SNX) announced it will release its fourth quarter fiscal 2022 financial results on January 10, 2023, before U.S. markets open.

A conference call led by CEO Rich Hume and CFO Marshall Witt will occur at 6:00 a.m. PT / 9:00 a.m. ET. The earnings press release and a live audio webcast will be available on their investor relations website.

TD SYNNEX (NYSE: SNX) is expanding its partnership with Google Cloud to nearly 60 additional countries across Latin America, Europe, and Asia. This expansion follows an earlier rollout that included the United States, Canada, UK, Ireland, and France. The initiative aims to enhance access to cloud solutions and services, addressing the digital transformation needs of businesses. TD SYNNEX offers various resources to support organizations in building cloud practices and adapting to Google Cloud technologies.

TD SYNNEX has achieved significant milestones by adding the AWS Government and Education Competencies, alongside memberships in the AWS Managed Services and GovCloud Service Delivery Programs. This achievement enhances its position as a key AWS distributor, positioning the company to drive growth with public sector clients. The strategic collaboration with AWS, initiated in January 2022, is enabling TD SYNNEX to expand its digital offerings for small and medium enterprises effectively. Their focus on optimizing technology investments is set to strengthen their market presence.

TD SYNNEX has released its inaugural Ecosystem Benchmark Report, revealing insights from North American technology leaders. Key findings indicate that nearly 75% expect to increase revenue from professional services, while over half plan to invest in next-gen technologies. Despite a projected $800 billion global metaverse market, only 12% plan to offer AR/VR solutions within two years. Additionally, 90% anticipate adopting as-a-service models by 2024. Conducted with Canalys, the report emphasizes expanding technology offerings and the importance of ecosystem collaboration.