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SMCI · Analysis updated Nov 4, 2026, 9:01 AM ET
Why is Supermicro (Super Micro Computer) (SMCI) stock moving?
SMCI closed at $31.39 on Nov 3 after a weak month. The stock had fallen about 27% in a month on AI-spending worries. After the close it reported fiscal Q1 revenue of $19.95B, up 298% year over year. Adjusted EPS was $1.81 against about $1.23 expected. Management raised FY2027 revenue guidance to $72B-$82B from $65B-$72B. Q2 guidance of $19.5B-$21.5B in revenue and $1.66-$1.90 in adjusted EPS is well above consensus. Shares rose about 8% to roughly $33.8 in premarket trading. That would put the stock back in the middle of its recent $30-$38 range, not at a new high. The stock trades at a low multiple, about 5x FY27 EPS by Rosenblatt's estimate. Rosenblatt kept a Buy rating with a $57 target. Risks remain. Gross margin was 12.7%-12.8%, down from 17.5% last quarter, and full-year margin is guided to 11.8%-12.2%. That implies a weaker second half. Operating cash flow was negative at $434M, and debt is significant at $8.6B against $6.9B of cash. One customer reportedly accounts for 44% of sales. Wedbush flagged AI-spending risks, so the sector backdrop stays fragile. Volume was elevated on Nov 3, and moves have been large around events, so volatility should stay high.
News behind the analysis
- Super Micro Computer (SMCI) Beats Q1 Earnings and Revenue EstimatesQ1 EPS of $1.81 beat the $1.24 Zacks consensus, and revenue of $19.95B beat by 26.46%. The company has beaten EPS estimates in each of the last four quarters.
- Super Micro Computer earnings beat by $0.58, revenue topped estimatesQ1 EPS was $1.81 against $1.23 expected, and revenue was $19.9B against $16.26B. Q2 guidance is revenue of $19.5B-$21.5B and EPS of $1.60-$1.90, above the $1.14 consensus.
- Super Micro Computer (SMCI) Stock Jumps 8% After Earnings Beat, Strong OutlookThe stock rose about 8% after hours and was up 7.65% premarket at $33.79. It had fallen 27% over the prior month.
- Super Micro Computer (SMCI) Stock Rises 8% as Revenue Nearly Quadruples From Last YearQ1 revenue was $19.95B, up from $5B a year earlier, with adjusted EPS of $1.81 versus $0.35. Shares closed at $31.39 on Nov 3.
- Earnings call transcript: Supermicro beats Q1 estimates, raises outlookFY2027 revenue guidance was raised to $72B-$82B from $65B-$72B. Non-GAAP gross margin was 12.8%, and AI is expected to be 70%-80% of FY27 revenue.
- SMCI Stock $33.65 After $19.9B Q1 Beat: Bull $38, Bear $30Operations used $434M of cash. Cash was $6.9B against $8.6B of bank debt and convertible notes.
- Rosenblatt reiterates Super Micro Computer stock rating on guidanceRosenblatt kept its Buy rating and $57 target. It notes that FY27 gross margin guidance of 11.8%-12.2% is above the 10% consensus, and that the second half implies lower revenue and margins than the first half.
- Why Is Super Micro Computer Stock Soaring Wednesday?Shares jumped 8% premarket. Wedbush flagged AI spending risks, and the report highlights one customer accounting for 44% of sales.
- Supermicro posts a $19.9 billion quarter and the AI bubble doubters go quietGross margin fell to 12.7% from 17.5% the prior quarter, a reminder that the company runs on thin margins. The backlog is at a record after more than $60B of new orders.
- What Super Micro Computer (SMCI) Said on Its Q1 Earnings CallRevenue rose 298% year over year and 79% sequentially. Management cited demand from cloud providers, neoclouds, enterprises and sovereign customers.