TD SYNNEX Corporation (SNX) Positioned to Benefit From AI and Hybrid Cloud Spending

We recently compiled a list of the 10 Best Investments During A Recession. TD SYNNEX Corporation stands tenth on our list among the best investments.

TheFly reported on January 9 that UBS analyst David Vogt maintained a Buy rating on SNX and raised the price target from $187 to $193. This update reflects UBS’s optimism over the company’s strategic position. For instance, the Hyve subsidiary is making good headway on AI data center infrastructure, while interest in Windows 11 and AI-capable PCs is driving up PC demand.

Conversely, on January 9, while keeping an Overweight rating, Morgan Stanley analyst Erik Woodring lowered the price target for TD SYNNEX Corporation (NYSE:SNX) from $177 to $172. Although Morgan Stanley is still confident about the company’s long-term prospects, the modified price target reflects a more cautious near-term assessment and acknowledges expected volatility in IT hardware demand and adjacent markets.

TD SYNNEX Corporation (NYSE:SNX) Positioned to Benefit From AI and Hybrid Cloud Spending

Source: pixabay

Similarly, Barclays analyst Tim Long reduced SNX’s price objective from $164 to $163 on the same day while keeping an Equal Weight rating. The company’s fiscal Q4 earnings exceeded expectations, according to the research report, due to strong software performance, consistent PC demand, and ongoing momentum in its Hyve segment.

TD SYNNEX Corporation (NYSE:SNX) operates at the heart of the technology ecosystem and provides a comprehensive range of products and services from leading vendors like IBM and Cisco. The company’s architecture is designed to help partners capitalize on high-growth areas, including AI integration, hybrid cloud, and data analytics.

While we acknowledge the risk and potential of SNX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SNX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.