TD SYNNEX Set to Report Q3 Fiscal 2026 Results on Sept. 24

Super Micro Computer reported fiscal 2026 revenues rose 78% year over year to $39.1 billion, with more than $60 billion in new orders booked in the fourth quarter pushing its backlog to record levels entering fiscal 2027. AI solutions accounted for roughly 60% of fourth-quarter fiscal 2026 revenues, while enterprise and channel revenues reached $5.6 billion, or 50% of quarterly sales, and the company expects AI-related solutions to make up more than 80% of revenues based on the current backlog. Supermicro is expanding manufacturing across the United States, Taiwan, Malaysia and the Netherlands, with capacity expected to exceed 6,000 racks per month, including more than 3,000 direct-liquid-cooled racks and support for high-density 250-kilowatt platforms. For fiscal 2027, management guided revenues between $65 billion and $72 billion, with first-quarter revenues projected at $14.5-$15.5 billion. The company is shipping volume systems based on NVIDIA's GB300 NVL72, HGX B300, B200 NVL4 and RTX 6000 Pro platforms while preparing Vera Rubin systems, and with AMD it launched the Helios product line and MI450 Total Solution alongside MI350 and MI355X systems.

Dell Technologies said it booked a record $60.9 billion in AI-server orders and generated $16.4 billion in AI-server revenues in the second quarter of fiscal 2027, exiting the period with a $95 billion backlog. The company said more than 6,500 customers are buying its Dell AI Factory offering, with 3,300 added over the past three quarters, spanning Neoclouds, sovereign customers and enterprises. Dell expects fiscal 2027 AI-server revenues of $74 billion, roughly three times the prior-year level, and estimates an addressable opportunity of more than $1 trillion, about half of the data-center demand it expects AI to drive by 2030. Competition is intensifying: Super Micro Computer entered fiscal 2027 with more than $60 billion in new orders and is targeting manufacturing capacity of more than 6,000 racks per month, while Cisco generated $9.3 billion in hyperscaler AI infrastructure orders in fiscal 2026. Dell shares have appreciated 351.2% year to date, and the Zacks Consensus Estimate for Dell earnings stands at $6.64 per share, up $2.12 over the past 30 days.

Nvidia CEO Jensen Huang said the company could sell twice as many chips next year compared to this year, speaking during a speech in Scotland last Thursday. Nvidia just started shipping its next-generation data center system, Vera Rubin, which includes the Rubin GPU, the Vera central processing unit, and upgraded networking components, and can deliver up to 30 times more performance than the equivalent Blackwell Ultra system while cutting inference token costs by 97%. Huang said every frontier AI company planned to adopt Vera Rubin at launch, unlike Blackwell Ultra. Nvidia is on track to deliver around $411 billion in total revenue during its current 2027 fiscal year, based on Wall Street's average estimate, and management recently told shareholders to expect 70% revenue growth in fiscal 2028, implying almost $700 billion next year. Nvidia stock trades at a price-to-earnings ratio of 28.1, less than half its 10-year average of 61.4, though risks include roughly $175 billion of fiscal 2028 sales potentially funded by Nvidia's own balance sheet, about 25% of that year's revenue according to CFO Colette Kress.