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TD SYNNEX’s (SNX) Hyve Solutions Unveils Hercules 9120 Platform

TD SYNNEX’s (SNX) Hyve Solutions Unveils Hercules 9120 Platform

TD SYNNEX‘s SNX wholly owned subsidiary, Hyve Solutions Corporation, launched its Hercules 9120 ultra-high-density mass storage platform. The platform contains 768 hard drives per rack, with 96 hard drives bundled across its eight 5U chassis.

The platform is equipped with rotational vibration interference mitigating architecture and peripheral component interconnect express (PCIe) 5.0 support. Additionally, the Hercules 9120 is built to provide uninterrupted services with its reliability, availability and serviceability.

The Hyve Hercules platform demonstrates improved vibration control and PCIe bandwidth capture, along with enhanced interoperability with the future implementation of the Open Compute Project’s (OCP) Data Center Modular Hardware System. The platform complies with the OCP’s Open Edge server standards.

TD SYNNEX Corp. Price and Consensus

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

Furthermore, the Hyve Hercules platform supports the 5th Gen Xeon Scalable Processor by Intel INTC and the 4th Gen AMD EPYC processors by Advanced Micro Devices AMD.

Intel’s 5th Gen Xeon is scheduled for a launch in the fourth quarter of 2023. It leverages modular system-on-chips to enhance scalability and flexibility, catering to the demands of artificial intelligence (AI) and cloud-based operations in terms of scale, power and efficiency.

Advanced Micro Devices’ 4th Gen AMD EPYC processors are specifically designed for data center and server applications, delivering high performance while simultaneously reducing server energy costs.

For Hyve Solutions, the Hercules platform is the essential foundation for a well-rounded data center strategy, providing substantial storage capacity to meet the anticipated demands of the AI and machine learning landscape for its clients.

TD SYNNEX collaborates with several vendors in the AI industry, spanning various segments, including AI accelerators, AI-enabled independent software providers, infrastructure companies and core AI software platform providers. The introduction of the new Hyve Hercules 9120 platform will expand the company’s catalog of offerings, delivering added value to its customers.

SNX is also experiencing improvement in its endpoint solutions business. Furthermore, the company is benefiting from reduced inventory positions due to the improving industry supply chain. The industry supply chain is recovering from post-COVID disruptions, with backlogs returning to normal. This improvement is helping TD SYNNEX boost its working capital and generate positive cash flow.

Zacks Rank and a Stock to Consider

Currently, TD SYNNEX and AMD carry Zacks Rank #3 (Hold) each, while Intel carries a Zacks Rank #2 (Buy). Shares of SYNNEX, AMD and Intel have returned 1.2%, 62.3% and 36.4%, respectively, on a year-to-date basis. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

NVIDIA NVDA is a better-ranked stock from the broader technology sector, which flaunts a Zacks Rank #1 at present.

The Zacks Consensus Estimate for NVIDIA’s third-quarter fiscal 2024 earnings has been revised upward by 2 cents to $3.34 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 7 cents to $10.74 per share in the past 30 days.

NVIDIA’s earnings beat the Zacks Consensus Estimate thrice in the trailing four quarters while missing on one occasion, the average surprise being 9.8%. Shares of NVDA have rallied 200.7% year to date.

Zacks Names #1 Semiconductor Stock

It’s only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.

With strong earnings growth and an expanding customer base, it’s positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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