AAPL
Apple Inc.
AAPL offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
SNX
TD SYNNEX Corporation
SNX has the edge over AAPL overall, supported by stronger modeled upside and stronger valuation.
AAPL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
AAPL's revenue, profitability, cash flow and balance sheet are all currently healthy.
SNX Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Under pressure | |
| Stable |
SNX's revenue and profitability are currently healthy, and its balance sheet is stable, but its cash flow is under pressure.
AAPL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 26x | $230 | -35% |
| Fair | 31x | $279 | -21% |
| Expensive | 37x | $328 | -7.5% |
| Forward | 38x | $355 | — |
| Current | 40x | $355 | — |
Historical ranges are pointers, not guarantees.
AAPL has the edge over SNX in the historical PE scenario, which offers more potential upside but is not a forecast.
SNX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 10x | $243 | — |
| Cheap | 14x | $223 | -8.2% |
| Current | 15x | $243 | — |
| Fair | 16x | $259 | +6.7% |
| Expensive | 18x | $287 | +18% |
Historical ranges are pointers, not guarantees.
SNX's PE is in its cheap range at 15x. If earnings grow as analysts expect, today's price would be 10x next year's earnings.
AAPL Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Weakening | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for AAPL, but weaker profitability.
SNX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Low |
SNX has the edge over AAPL on the outlook, with more favorable valuation and profitability expectations.
AAPL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.28 | +3.3% |
| Q3 2026 | $8.98 | +20% |
| Q2 2026 | $8.71 | +32% |
| Q1 2026 | $8.26 | +29% |
| Q4 2025 | $7.90 | +25% |
| Q3 2025 | $7.46 | +23% |
| Q2 2025 | $6.59 | +0.2% |
| Q1 2025 | $6.42 | -0.3% |
| Q4 2024 | $6.30 | -2% |
AAPL earned $8.98 per share over the past year, up 20% from the year before.
SNX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $23.63 | +44% |
| Q3 2026 | $16.39 | +78% |
| Q2 2026 | $13.95 | +63% |
| Q1 2026 | $12.01 | +50% |
| Q4 2025 | $9.95 | +25% |
| Q3 2025 | $9.21 | +19% |
| Q2 2025 | $8.55 | +20% |
| Q1 2025 | $8.00 | +16% |
| Q4 2024 | $7.95 | +19% |
SNX has the edge over AAPL on earnings, with more consistent year-over-year improvement.
AAPL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $114.5B | +12% |
| Q2 2026 | $109.4B | +16% |
| Q1 2026 | $111.2B | +17% |
| Q4 2025 | $143.8B | +16% |
| Q3 2025 | $102.5B | +7.9% |
| Q2 2025 | $94B | +9.6% |
| Q1 2025 | $95.4B | +5.1% |
| Q4 2024 | $124.3B | +4% |
AAPL has the edge over SNX on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | -0.5 points |
| Q2 2026 | 33% | +2.6 points |
| Q1 2026 | 32% | +1.3 points |
| Q4 2025 | 35% | +0.9 points |
| Q3 2025 | 32% | +0.5 points |
| Q2 2025 | 30% | +0.4 points |
| Q1 2025 | 31% | +0.3 points |
| Q4 2024 | 34% | +0.7 points |
AAPL has the edge over SNX on profitability, with a higher operating margin.
SNX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $21.6B | +38% |
| Q2 2026 | $19.6B | +31% |
| Q1 2026 | $17.2B | +18% |
| Q4 2025 | $17.4B | +9.7% |
| Q3 2025 | $15.7B | +6.6% |
| Q2 2025 | $14.9B | +7.2% |
| Q1 2025 | $14.5B | +4% |
| Q4 2024 | $15.8B | +10% |
SNX's revenue has grown year over year for nine quarters in a row: $21.6B last quarter, up 38% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3% | +0.5 points |
| Q2 2026 | 2.6% | +0.4 points |
| Q1 2026 | 2.9% | +0.8 points |
| Q4 2025 | 2.3% | +0.2 points |
| Q3 2025 | 2.5% | +0.4 points |
| Q2 2025 | 2.2% | +0.3 points |
| Q1 2025 | 2.1% | -0.1 points |
| Q4 2024 | 2% | +0.1 points |
SNX's operating margin was 3% last quarter, up 0.5 points from the same quarter a year ago.
AAPL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $25.9B | -2.4% |
| Q2 2026 | $31.9B | +31% |
| Q1 2026 | $26.7B | +28% |
| Q4 2025 | $51.6B | +91% |
| Q3 2025 | $26.5B | +11% |
| Q2 2025 | $24.4B | -8.6% |
| Q1 2025 | $20.9B | +0.9% |
| Q4 2024 | $27B | -28% |
AAPL has the edge over SNX on cash generation, producing positive trailing cash flow while its opponent burns cash.
SNX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$975.6M | -556% |
| Q2 2026 | -$332.4M | -161% |
| Q1 2026 | -$929M | -$139.5M |
| Q4 2025 | $1.4B | +177% |
| Q3 2025 | $213.9M | -37% |
| Q2 2025 | $542.9M | +$695.5M |
| Q1 2025 | -$789.5M | -330% |
| Q4 2024 | $512.9M | +205% |
SNX's free cash flow has turned negative after years in the green: −$815M over the past year.
AAPL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +5.6M shares |
| 1 year | -1.9% | -284M shares |
| 3 years | -6.9% | -1.1B shares |
| 5 years | -13% | -2.1B shares |
| Available history | -17% | -3.1B shares |
AAPL has 14.7B diluted shares, down 1.9% from a year ago, with $86.4B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $24.3B |
| Q2 2026 | $25.1B |
| Q1 2026 | $12.3B |
| Q4 2025 | $24.7B |
| Q3 2025 | $20.1B |
| Q2 2025 | $21.1B |
| Q1 2025 | $25.9B |
| Q4 2024 | $23.6B |
AAPL spent $86.4B buying back its own shares over the past year, down 4.8% from the year before.
SNX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -342K shares |
| 1 year | -3% | -2.5M shares |
| 3 years | -15% | -13.5M shares |
| 5 years | +54% | +27.7M shares |
| Available history | -22% | -22.5M shares |
SNX has the edge over AAPL on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $100.3M |
| Q2 2026 | $112.4M |
| Q1 2026 | $79.7M |
| Q4 2025 | $173M |
| Q3 2025 | $173.8M |
| Q2 2025 | $148.8M |
| Q1 2025 | $100.5M |
| Q4 2024 | $102M |
SNX spent $465M buying back its own shares over the past year, down 11% from the year before.
AAPL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.5x | Very low |
AAPL has the edge over SNX on leverage, with a lower net debt burden relative to earnings.
SNX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.9x | Healthy |
| Q2 2026 | 1.6x | Healthy |
| Q1 2026 | 1.6x | Healthy |
| Q4 2025 | 1.2x | Healthy |
| Q3 2025 | 1.9x | Healthy |
| Q2 2025 | 2.0x | Moderate |
| Q1 2025 | 2.4x | Moderate |
| Q4 2024 | 1.8x | Healthy |
SNX's net debt is about 1.9 years of its operating earnings (EBITDA), about the same as a year ago.
AAPL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.1 | Neutral |
| Stochastic | 85.0 | Overbought |
AAPL's weekly RSI is 68 (neutral) and its Stochastic is 85 (overbought).
SNX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.0 | Neutral |
| Stochastic | 17.1 | Oversold |
SNX's weekly RSI is 50 (neutral) and its Stochastic is 17 (oversold).
AAPL PE vs Technology Sector
| Metric | AAPL | Sector median | Relative |
|---|---|---|---|
| PE | 40x | 28x | 42% above |
| PE % | 96 | 35 | 61 pts above |
AAPL is trading at 40x earnings, a 42% premium to the Technology sector's median of 28x.
SNX PE vs Technology Sector
| Metric | SNX | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 28x | 47% below |
| PE % | 30 | 35 | 5 pts below |
SNX has the edge over AAPL on valuation relative to its sector.
AAPL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $343.1 | 3.4% above |
| 20 week MA | $329.0 | 7.9% above |
| 50 week MA | $295.6 | 20% above |
| 100 week MA | $262.4 | 35% above |
| 200 week MA | $226.3 | 57% above |
AAPL has the edge over SNX on trend strength, trading above more of its moving averages.
SNX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $250.8 | 3.3% below |
| 20 week MA | $252.9 | 4.1% below |
| 50 week MA | $216.8 | 12% above |
| 100 week MA | $176.2 | 38% above |
| 200 week MA | $141.2 | 72% above |
SNX has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 72% above its 200-week average.
AAPL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $72.5 | $132.0 | +82% |
| 2021 | $132.0 | $176.3 | +34% |
| 2022 | $176.3 | $131.9 | -25% |
| 2023 | $131.9 | $192.5 | +46% |
| 2024 | $192.5 | $255.6 | +33% |
| 2025 | $255.6 | $273.4 | +7% |
| 2026 YTD | $273.4 | $354.9 | +30% |
AAPL has finished higher in five of the last six years. It's up 30% so far in 2026.
SNX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $64.6 | $82.7 | +28% |
| 2021 | $82.7 | $113.2 | +37% |
| 2022 | $113.2 | $95.2 | -16% |
| 2023 | $95.2 | $107.6 | +13% |
| 2024 | $107.6 | $118.3 | +10% |
| 2025 | $118.3 | $154.9 | +31% |
| 2026 YTD | $154.9 | $242.5 | +57% |
SNX has the edge over AAPL on returns for 2026, with the stronger performance.