SerpApi.Org
Super Micro Computer surged early Wednesday after releasing preliminary fiscal fourth-quarter figures. AI server rivals Dell Technologies and Hewlett Packard Enterprise also rallied.
After Tuesday's close, Super Micro ComputerSMCI, or Supermicro said fiscal fourth-quarter revenue will be at the low end of its guidance for $11 billion-$12.5 billion, below consensus. The analyst consensus for Supermicro revenue is $11.7 billion.
But the AI server maker said Q4 gross margins will be 15%-17%, roughly double the prior target of 8.2%-8.4%.
Supermicro also said it had more than $60 billion in near orders in Q4, lifting its backlog to a record.
Supermicro Stock
Super Micro stock surged 23% Wednesday morning, pushing SMCI toward its 50-day and 200-day lines,.
Meanwhile, AI server peer Dell TechnologiesDELL surged more than 9% and Hewlett Packard EnterpriseHPE rose 5%.
Dell stock reclaimed its 21-day line, extending a bounce from the 10-week line within a consolidation.
HPE stock is approaching short-term levels and a downward-sloping trendline after bouncing Tuesday from its 10-week line.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
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