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Strong beat on revenue and earnings, plus above-consensus Q3 guidance and higher analyst targets typically fuels upside; near-term weakness seems driven by profit-taking rather than fundamentals, similar to other large-cap earnings where sentiment shifts lag the earnings beat.
What happened, with direct paths to the underlying reporting
TD SYNNEX posted an upbeat Q2 with revenue of $19.58 billion, up 31% YoY, and EPS ahead of estimates. Management guided Q3 above consensus, with non-GAAP EPS guidance of $4.25-4.75 and revenue of $18.2-19.0 billion, while analysts raised price targets on the stock. Despite the beat, the stock fell about 2.4% on Friday, suggesting near-term profit-taking or volatility, but the fundamentals and raised targets point to potential upside in the coming quarters.
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