SMCI Stock Explodes On Record $60 Billion Backlog

Super Micro Computer stock is soaring Wednesday after the AI server maker released a preliminary fourth-quarter update that stunned Wall Street. The company reported a record backlog with new orders exceeding 60 billion dollars and raised gross margin expectations to a range of 15 to 17 percent, above prior guidance. Revenue is expected to come in near the low end of the 11 to 12.5 billion dollar guidance range, roughly in line with the analyst estimate midpoint of 11.73 billion. The results remain preliminary and unaudited, but the read-through for broader AI-server demand sent shares sharply higher after a rough stretch. Traders are also eyeing Dell Technologies as a potential next winner on the read-through to broader server demand. Despite the surge, SMCI remains down roughly 48 percent over the past year, with analysts carrying a Hold rating and an average price forecast near 33.67 dollars. #SMCI #Supermicro #AI 🌐 Find more market-moving insights at https://www.benzinga.com — your one-stop destination for the latest financial news, data, and expert analysis to stay ahead of the markets. 🖥️ Want the same tools the pros use—without the $10K Bloomberg terminal? Benzinga Edge gives you real-time portfolio alerts, weekly stock picks, and pro-grade research in one command center. 👉 https://bit.ly/4unSKiB ------------------------------------------------------------------------------------ 📲 Follow us on socials @benzinga 🔔 Subscribe To The Channel: https://www.youtube.com/@Benzinga ------------------------------------------------------------------------------------ ⚠️ Disclaimer: Investing in financial markets carries risk, and there are no guaranteed returns. All information is for educational purposes only and should not be taken as financial advice. Always do your own research and speak with a qualified financial advisor before making investment decisions. Only invest what you can afford to lose. Past performance does not guarantee future outcomes.