MANH · Manhattan Associates, Inc. · Stock research

NTAP

NetApp, Inc.

The May AI re-rating survived its retest without the $148.63 breakout level ever trading: the 2026-07-02 close of $154.17 marked a higher low and price recovered to $173.49 by 2026-07-30. DataPelago (2026-07-16) and the Oracle OCI launch (2026-07-15) extend the story, but FY27 revenue is still guided ~+8% and the Q1 print projected for ~2026-08-26 is now the binary inside the window.

SNX

TD SYNNEX Corporation

The broad channel re-rating leg is over: SNX topped at $296.47 on 2026-06-24 — the session before its Q2 beat — then fell 21% to $234.03 by 2026-07-08. What remains is the narrower Hyve leg: gross billings +117% YoY to $5.5B, programs with all five U.S. hyperscalers, and a May 2026 Amazon warrant struck at $191.10 that vests on Amazon's own purchase volume. Forward P/E 13.1, base four weeks old, next print ~8 weeks out.

HPE

Hewlett Packard Enterprise Company

June blowoff round-trip bottomed at $40.72 on 2026-07-02; four weeks later HPE trades a $43.30–$49.25 range and moves on peer prints (SMCI 7/22) and hyperscaler capex headlines rather than its own news. Guided Q3 revenue of $11.5–12.1B is the next hard number and it does not land until roughly 2026-09-01.

META

Meta Platforms, Inc.

Q2 on 2026-07-29 falsified the capex-discipline leg: FY26 capex low end raised to $130–145B, buyback $0, FCF $784M against a $1.35B dividend, and price lost the June base (~$547 on 7/31 vs a $520.26 52-week low). MSFT and AMZN rose on their own capex the same week; the discriminator is a visible revenue attach, and Meta's Anthropic lease is unsigned into an 2026-08-18 trial where four states seek $1.4T.