What's Going On With Super Micro Computer Inc Stock?
Portfolio Pulse from Erica Kollmann
Super Micro Computer, Inc. (NASDAQ:SMCI) stock is trading higher after the company announced it expects to exceed its prior Q2 financial guidance. The updated guidance estimates Q2 net sales between $3.6 billion and $3.65 billion, up from the previous $2.7 billion to $2.9 billion. Non-GAAP diluted net income per share is also expected to rise to $5.40-$5.55, from the earlier $4.40-$4.88. The company attributes this to strong market demand for its solutions. Barclays and Wedbush analysts have updated their price targets and ratings for SMCI. The Q2 financial results will be released on Jan. 29.
January 19, 2024 | 5:00 pm
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Super Micro Computer, Inc. expects to surpass its Q2 financial guidance, with significant increases in net sales and non-GAAP diluted net income per share. Analysts have updated their ratings and price targets in response.
The positive revision in financial guidance indicates strong performance and market demand, which typically results in a positive short-term impact on the stock price. Analyst upgrades and raised price targets further support this outlook.
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IMPORTANCE 90
RELEVANCE 100