On September 24, Synnex fell 8.88% in regular trading, trading at around $254.19 per share, with turnover of approximately $46.44 million. Despite a blowout fiscal Q3 report released pre-market, the stock came under heavy selling pressure as investors locked in gains.

The company reported fiscal Q3 adjusted EPS of $5.68, up 58.7% year-over-year and exceeding the consensus estimate of $4.70 by 20.9%. Revenue came in at $21.56 billion, a 37.8% year-over-year increase that far surpassed the $18.91 billion consensus. Notably, the stock had already climbed 5.45% in the prior session as multiple institutions, including RBC Capital Markets and Morgan Stanley, raised earnings estimates ahead of the print, suggesting the market had partially priced in the upside.

Morgan Stanley had previously flagged the Hyve hyperscale-infrastructure business and expanding operating margins as key catalysts, projecting EPS roughly 7% above consensus. The strong Q2 results in June — where EPS beat by 17% and revenue exceeded estimates by 16.5% — had already set a high bar, making the post-earnings pullback consistent with a classic profit-taking pattern despite fundamentally robust results.

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