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TD SYNNEX (SNX) to Offer Storage Gateway Hardware Appliance

TD SYNNEX SNX recently announced that under the Strategic Collaboration Agreement (“SCA”) with Amazon AMZN subsidiary, Amazon Web Services (“AWS”), it will distribute AWS solution — Storage Gateway Hardware Appliance — to its partner businesses.

Per the agreement, TD SYNNEX will globally integrate Amazon’s AWS Storage Gateway Hardware Appliance to provide deployment and migration services to its partner base, which includes small and medium-sized businesses, public sector organizations, and individual software vendors.

Part of the SCA, which TD SYNNEX entered in January this year, this deal will ensure customer data transformation from on-premise storage like branch offices, research and development departmental workgroups, laboratory and industrial sites to unlimited cloud-native storage. Amazon's AWS Storage Gateway Hardware Appliance is a physical, standalone, validated server configuration for on-premises deployments. It comes pre-loaded with Storage Gateway software and provides all the required central processing unit, memory, network, and solid-state drive cache resources for creating and configuring file gateway, volume gateway, or tape gateway.

In addition to the transformation of existing applications, customers will receive other AWS Storage Gateway Hardware Appliance associated services through their preferred channel partner. The customers will further avail of TD SYNNEX Global Lifecycle Management services to implement and launch critical lifecycle management services that simplify and streamline business operations.

TD SYNNEX Corp. Price and Consensus

TD SYNNEX Corp. Price and Consensus
TD SYNNEX Corp. Price and Consensus

TD SYNNEX Corp. price-consensus-chart | TD SYNNEX Corp. Quote

The AWS Storage Gateway Hardware Appliance, which is managed from the AWS Console, will be available as a Click-to-Run solution. It is likely to accelerate innovation across data, analytics, the Internet of Things (“IoT”), and security spaces for the TD SYNNEX partners. It will help the partners achieve their targeted goals while reducing operating costs and raising performance levels and security standards. Alternatively, it will let the end customers enjoy a robust hybrid architecture that is easier to purchase than what their existing on-premise applications require, that too from a partner of their choice.

Amazon’s AWS offers more than 200 fully-featured services from data centers globally. Its features range from infrastructure technologies like compute, storage, and databases to emerging technologies such as machine learning and artificial intelligence, data lakes and analytics, and the IoT. AWS is the world’s most comprehensive and widely adopted cloud platform, utilized by millions of customers.

Zacks Rank & Stocks to Consider

Both TD SYNNEX and Amazon carry a Zacks Rank #3 (Hold). Shares of SNX and AMZN have declined 16.3% and 29.1%, respectively, over YTD.

Some better-ranked stocks from the broader Computer and Technology sector are Baidu BIDU and Synopsys SNPS. While Baidu sports a Zacks Rank #1 (Strong Buy), Synopsys carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Baidu's second-quarter 2022 earnings has been revised 4 cents upward to $1.42 per share over the past seven days. For 2022, earnings estimates have moved 3 cents north to $8.30 per share in the past seven days.

Baidu's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 52.9%. Shares of BIDU have slumped 4.3% in YTD.

The Zacks Consensus Estimate for Synopsys’ third-quarter fiscal 2022 earnings has been revised 35.1% up to $2.04 per share over the past 90 days. For 2023, earnings estimates have moved 9.7% north to $8.67 per share in the past 90 days.

Synopsys’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 2.7%. Shares of SNPS have declined 12.2% in YTD.


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