SMCI: Super Micro Computer Stock Powers Up 36% to Record on Upbeat Earnings Outlook

Company’s preliminary earnings report showed better than expected revenue for the fourth quarter. Shares hit a record after a stellar 2023.

• Super Micro Computer stock SMCI rallied 36% on Friday to a new record high. The server and computer maker said in a preliminary earnings report that it expects revenue for the fourth quarter, or its fiscal second quarter, to arrive at $3.6 billion.
• The figure blasted through prior guidance of $2.7 billion to $2.9 billion and also above analysts’ calls for $3.06 billion. Earnings for the three months through December 31 are projected to land at $5.55 a share, topping Wall Street estimates of $4.51 a piece.
• The company cited strong end consumer demand for its rack-scale, AI, and Total IT Solutions. Investors pumped the AI-related play just as it exited a stellar 2023 with 250% in gains. But to experience a real sense of missing out, check this: Super Micro stock has jumped roughly 30 times in the past five years, outpacing Nvidia’s NVDA 13-fold increase.