Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at TD SYNNEX (NYSE: SNX) and the best and worst performers in the tech hardware & electronics industry.

Tech hardware and electronics companies will be buoyed by the increasing complexity of IT ecosystems, rising cloud adoption, and demand for cybersecurity solutions. Enterprises are less likely than ever to embark on these complicated journeys solo, and companies in the sector boast expertise and scale in these areas. However, cloud migration also means less need for hardware itself, which could dent demand and hurt margins. Additionally, planning for potentially supply chain disruptions is ongoing, as the COVID-19 pandemic showed how damaging a pause in global trade could be in areas like semiconductor procurement.

The 5 tech hardware & electronics stocks we track reported an exceptional Q3. As a group, revenues beat analysts’ consensus estimates by 5.5% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady as they are up 1% on average since the latest earnings results.

TD SYNNEX (NYSE: SNX)

Serving as the crucial middleman in the technology supply chain, TD SYNNEX (NYSE: SNX) is a global technology distributor that connects thousands of IT manufacturers with resellers, helping businesses access hardware, software, and technology solutions.

TD SYNNEX reported revenues of $15.65 billion, up 6.6% year on year. This print exceeded analysts’ expectations by 3.5%. Overall, it was a stunning quarter for the company with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EPS guidance for next quarter estimates.

“Our third quarter non-GAAP gross billings and diluted earnings per share established new records for our company” said Patrick Zammit, CEO of TD SYNNEX.

Interestingly, the stock is up 2% since reporting and currently trades at $153.42.

Is now the time to buy TD SYNNEX? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q3: Amphenol (NYSE: APH)

With over 90 years of connecting the world's technologies, Amphenol (NYSE: APH) designs and manufactures connectors, cables, sensors, and interconnect systems that enable electrical and electronic connections across virtually every industry.

Amphenol reported revenues of $6.19 billion, up 53.4% year on year, outperforming analysts’ expectations by 10.9%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EPS guidance for next quarter estimates.

Amphenol achieved the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 9.3% since reporting. It currently trades at $136.

Is now the time to buy Amphenol? Access our full analysis of the earnings results here, it’s free for active Edge members.

Slowest Q3: Plexus (NASDAQ: PLXS)

With over 20,000 team members across 26 global facilities, Plexus (NASDAQ: PLXS) designs, manufactures, and services complex electronic products for companies in aerospace/defense, healthcare, and industrial sectors.

Plexus reported revenues of $1.06 billion, flat year on year, exceeding analysts’ expectations by 1.1%. It may have had the worst quarter among its peers, but its results were still good as it also locked in a beat of analysts’ EPS estimates and revenue guidance for next quarter beating analysts’ expectations.

Plexus delivered the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 2.1% since the results and currently trades at $149.

Read our full analysis of Plexus’s results here.

Jabil (NYSE: JBL)

With manufacturing facilities spanning the globe from China to Mexico to the United States, Jabil (NYSE: JBL) provides electronics design, manufacturing, and supply chain solutions to companies across various industries, from healthcare to automotive to cloud computing.

Jabil reported revenues of $8.25 billion, up 18.5% year on year. This number beat analysts’ expectations by 9.5%. Overall, it was an exceptional quarter as it also logged a solid beat of analysts’ EPS guidance for next quarter estimates and an impressive beat of analysts’ revenue estimates.

Jabil had the weakest full-year guidance update among its peers. The stock is down 8.3% since reporting and currently trades at $206.60.

Read our full, actionable report on Jabil here, it’s free for active Edge members.

Knowles (NYSE: KN)

With roots dating back to 1946 and a focus on components that must perform flawlessly in critical situations, Knowles (NYSE: KN) designs and manufactures specialized electronic components like high-performance capacitors, microphones, and speakers for medical technology, defense, and industrial applications.

Knowles reported revenues of $152.9 million, up 7.3% year on year. This result topped analysts’ expectations by 2.6%. It was a very strong quarter as it also recorded a solid beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.

The stock is flat since reporting and currently trades at $24.01.

Read our full, actionable report on Knowles here, it’s free for active Edge members.

Market Update

In response to the Fed’s rate hikes in 2022 and 2023, inflation has been gradually trending down from its post-pandemic peak, trending closer to the Fed’s 2% target. Despite higher borrowing costs, the economy has avoided flashing recessionary signals. This is the much-desired soft landing that many investors hoped for. The recent rate cuts (0.5% in September and 0.25% in November 2024) have bolstered the stock market, making 2024 a strong year for equities. Donald Trump’s presidential win in November sparked additional market gains, sending indices to record highs in the days following his victory. However, debates continue over possible tariffs and corporate tax adjustments, raising questions about economic stability in 2025.

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