What's Going On With Super Micro Computer Stock After-Hours?
Portfolio Pulse from Ryan Gustafson
Super Micro Computer, Inc. (NASDAQ:SMCI) shares rose in after-hours trading following the company's updated financial guidance for Q2, which exceeded previous estimates. The company now expects net sales of $3.6 to $3.65 billion, up from $2.7 to $2.9 billion, and non-GAAP diluted net income per share of $5.40 to $5.55, up from $4.40 to $4.88. The increase is attributed to strong demand for its rack-scale, AI, and Total IT Solutions. A conference call is scheduled for Jan. 29 to discuss the results.
January 18, 2024 | 10:08 pm
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Super Micro Computer's stock rose after-hours due to significantly raised Q2 guidance, with sales and EPS estimates surpassing previous forecasts, driven by strong product demand.
The positive revision in financial guidance, particularly in net sales and EPS, is a strong indicator of the company's performance and is likely to instill investor confidence, leading to a potential short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100