Super Micro sees quarterly revenue soaring on AI server boom
Summary
Super Micro reported a significant surge in quarterly revenue driven by the booming demand for artificial intelligence servers. The company experienced strong financial growth as businesses increasingly invest in advanced hardware to power new computing technologies.
Our Take
This is one of the biggest guidance raises of the earnings season. Super Micro now expects fiscal Q1 revenue of $18.5–$19.5 billion, up from $14.5–$15.5 billion and well above the roughly $14.9 billion Wall Street expected. It also guided margins higher, to 12%–12.5%. The stock jumped about 15% after hours to near $37.55, and Dell and HPE rose with it. The setup matters: SMCI had fallen from about $45.77 to under $31 in two weeks, so many sellers were already out. For Wednesday, $38.02 (Oct. 14 high) is the first resistance, then $39.49. Holding above about $35.12 keeps the gap healthy. SMCI has a long history of gaps that fade, so we would let the open settle before acting. Full results are still to come.
Opinion of Tech & Money Press. Not financial advice.
Source: Read the full story at Stock Market News