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Super Micro Stock Rises As AI Computer Maker Raises Full-Year Outlook (IBD)

PATRICK SEITZ05:11 PM ET 01/29/2024
Data center specialist Super Micro Computer (SMCI), better known as Supermicro, late Monday easily beat expectations for its fiscal second quarter. It also raised its sales guidance for the full year thanks to red-hot demand for AI computer systems. SMCI stock rose in extended trading.

The San Jose, Calif.-based company earned an adjusted $5.59 a share on sales of $3.66 billion in the quarter ended Dec. 31. Analysts polled by FactSet had expected Supermicro earnings of $5.05 a share on sales of $2.8 billion. On a year-over-year basis, Supermicro earnings surged 71% while sales rocketed 103%.

Supermicro preannounced better-than-expected results for the December quarter on Jan. 18. That news sent SMCI stock soaring 35.9% in the next trading session. SMCI stock hit a regular-session all-time high of 496.78 on Jan. 24.

For the current quarter, Supermicro predicted adjusted earnings of $5.61 a share on sales of $3.9 billion. That's based on the midpoint of its guidance.

Analysts had been looking for earnings of $4.61 a share on sales of $2.91 billion in the March quarter. In the year-earlier period, Supermicro earned an adjusted $1.63 a share on sales of $1.28 billion.


SMCI Stock Rises On Beat-And-Raise Report
"We continued to demonstrate our market leadership in fiscal Q2," Chief Executive Charles Liang said in a news release. "While we continue to win new partners, our current end customers continue to demand more (of) Supermicro's optimized AI computer platforms and rack-scale Total IT Solutions."

For its fiscal year ending June 30, Supermicro now expects revenue of $14.3 billion to $14.7 billion. It previously guided to sales of $10 billion to $11 billion.

The current midpoint of its sales outlook of $14.5 billion is well above Wall Street's target of $11.3 billion. In its fiscal 2023, Supermicro reported sales of $7.1 billion.

In after-hours trading on the stock market today, SMCI stock jumped 9% to 540.50. During the regular session Monday, SMCI stock advanced 4.5% to close at 495.67.

Supermicro sales have gotten a lift from major cloud service providers investing in systems for generative artificial intelligence. The computer systems maker works closely with AI chip providers including Advanced Micro Devices (AMD), Intel (INTC) and Nvidia (NVDA).

SMCI stock is on the IBD 50 and Tech Leaders stock lists.

https://finance.yahoo.com/m/c75c2ca5-3db1-3dd7-81e4-76b6d0751537/super-micro-stock-rises-as-ai.html

As a side note, I just bought the latest Samsung Galaxy S24+ phone, and it has deal with Google that has installed a Google Cloud access to Generative AI for search. Also it has a Google real time translation app (?) that allows someone with a foreign language to speak into the phone it automatically translates it back to English, and vis verse! Finally AI is starting to get some real traction in many innovative ways, and no surprise, Lightwave will gain the majority of the indirect benefits for their polymer slot modulators/transceivers into the Data Centers as just their first major product release! BOOM! Suck it up Shorty Babies, going to be a sweet launch North. 🚀 🛸 🤣