ARW
NYSE · Technology · Technology Distributors · US
Research · Sep 7, 2026
Nvidia's 15% AI Server Price Hike Splits the Memory Bill
Nvidia told customers AI server prices rise over 15% from early 2027, splitting distributors that book memory cost as revenue from vendors that eat it.
Research · Sep 3, 2026
[ARW] Arrow Electronics Thesis 2026: Components Distribution Cycle Drives Enterprise Computing Recovery
Arrow Electronics, Inc. (NYSE: ARW) FY2025 revenue ~$28.5-30.0B (+0-5%) with adj. EPS ~$10.50-11.50 reflecting continued post-2024 ~$21.5-22.5B aggregate Global Components revenue (~75%+ aggregate revenue mix; selected primary US + EMEA + Asia Pacific electronic components distribution + selected various aggregate semiconductors + interconnect + passives + electromechanical) + selected continued post-2024 ~$7.0-7.5B aggregate Global ECS (Enterprise Computing Solutions) revenue (~25% aggregate revenue mix; selected primary US + EMEA + Asia Pacific enterprise IT distribution + selected various aggregate cloud + storage + networking + virtualization + cybersecurity) under continued President + CEO Sean Kerins since 2022 (~3-year tenure as Arrow Electronics CEO). One of the largest US + global electronics components + Enterprise Computing Solutions distributors. Founded 1935 as Arrow Radio in New York City (~90-year heritage); selected post-1961 NYSE listing; selected post-2022 Sean Kerins CEO appointment. Headquartered in Centennial Colorado; ~22,000-23,000+ employees globally with ~$28.5-30.0B revenue. Two primary business segments: Global Components (~75%+ ~$21.5-22.5B), Global ECS (~25% ~$7.0-7.5B). Geographic mix: Americas ~40%+ + EMEA ~30% + Asia Pacific ~30%. Components distribution cycle (post-2024 trough recovery): ~$21.5-22.5B Global Components revenue; ~12,000+ aggregate components customers; ~1,200+ aggregate suppliers; selected continued post-2022-2024 trough cycle + selected various aggregate ~+0-5% aggregate Global Components revenue growth (selected normalization toward selected various aggregate ~+5-7% aggregate run-rate post-2026). Enterprise Computing Solutions (ECS) recovery + AI infrastructure cycle: ~$7.0-7.5B Global ECS revenue; selected primary cloud + storage + networking + virtualization + cybersecurity; ~+5-10% aggregate ECS revenue growth + AI infrastructure tailwind. President + CEO Sean Kerins since 2022 (~3-year tenure); CFO Raj Agrawal. Capital return: ~$0 dividend (no dividend track post-1990s); ~$300-450M aggregate FY2024-2025 buyback program (~$200-300M aggregate FY2025); aggregate capital return ~$200-300M FY2025; net leverage ratio ~2.5-3.0x; investment-grade Baa3/BBB- credit rating. FY2026 thesis: Components distribution cycle + ECS recovery + AI infrastructure cycle + ~$200-350M aggregate annual capital return + selected projected post-2026 ~+5-7% aggregate Global Components revenue growth normalization + AI infrastructure tailwind. Risks: Avnet + WPG Holdings + WT Microelectronics + Future Electronics components competition, TD SYNNEX + ScanSource ECS competition, semiconductor cycle considerations, AI capex cycle, enterprise IT spending cycle, sustained ~2.5-3.0x net leverage.
Research · Aug 25, 2026
IT Distribution Consolidates Around Two Global Partners
Ingram Micro and TD SYNNEX each confirmed HPE named them its only two global distribution partners for its full networking, cloud and AI portfolio.
Research · Aug 25, 2026
Nvidia AI Server Price Hike Pushes Memory Costs Down the Chain
Nvidia has told customers AI server prices rise more than 15% on systems shipping from early 2027, moving memory inflation into list prices.