From Investor’s Business Daily: 2024-08-06 17:00:55

Super Micro Computer (SMCI) missed analyst estimates for its fiscal fourth quarter and provided mixed guidance for the current period. They announced a 10-for-1 stock split, causing SMCI stock to initially rise before falling in extended trading. The company earned an adjusted $6.25 per share on sales of $5.31 billion in the quarter ended June 30, with a 78% increase in earnings and a 143% rise in sales year-over-year. Super Micro forecast adjusted earnings of $7.48 per share on sales of $6.5 billion for the current quarter and plans to start trading on a split-adjusted basis on Oct. 1. JPMorgan analyst Samik Chatterjee reiterated an overweight rating on SMCI stock but lowered the price target, citing AI demand sustainability and server margin concerns. Super Micro is on the IBD Tech Leaders list, and CEO Charles Liang remains optimistic about record AI infrastructure demand driving revenue growth.



Read more at Investor’s Business Daily: SMCI Stock: Super Micro Computer Misses Fiscal Q4 Targets