Why Is TD SYNNEX CORP (SNX) Stock Down Today?

TD Synnex (SNX) shares fell 10.57% to $257.45 in the session, marking a sharp reversal from a significant gap up and a record fiscal Q3 performance. The stock opened at $295.33, but quickly declined through the day amid investor reaction to the company’s guidance and broader market pressures. The decline came despite the firm reporting a 37.7% revenue increase to $21.56 billion and non-GAAP EPS of $5.68, both above estimates.

What Happened

TD Synnex reported record fiscal Q3 2026 results, with revenue rising 37.7% year over year to $21.56 billion and non-GAAP diluted EPS reaching $5.68, exceeding estimates by $0.98. The company also declared a $0.48 quarterly dividend, yielding 0.67% annually. However, the stock slid sharply after the market opened, despite the strong results. The company guided for Q4 GAAP EPS between $4.58 and $5.08, and adjusted EPS between $5.65 and $6.15, both above estimates. Nevertheless, the stock’s performance suggests investors were focused on the gross margin decline of 61 basis points year over year and the broader market environment, which saw the S&P 500 and Nasdaq futures fall.

What The Data Shows

The intraday session showed a volatile trajectory. The stock opened with a 2.6% gap up from the previous close of $287.89, reaching a high of $297.50 shortly after the open before declining to a low of $252.01 by the end of the session. The volume of 0.2 million shares was in line with the 3-month average. The stock also printed two fresh 52-week lows and one 52-week high on the day. Recent insider transactions show 8 sales totaling $11.5 million over the past 90 days, with the most recent sale occurring on September 16.

What To Watch

The stock’s sharp decline suggests investors are closely watching the company’s ability to maintain margins amid strong revenue growth. The next key event will be the company’s Q4 earnings, which will provide further insight into the sustainability of its performance.