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Super Micro Stock Surges 16% Premarket on Record $60B Order Backlog

GateNews
Stocks
SMCI6.96%
According to Super Micro Computer Inc. on Wednesday, the company's shares surged 16% in early premarket trading after announcing a record $60 billion order backlog for its fourth quarter, while raising gross margin guidance to 15% to 17% from 8.2% to 8.4%. The AI server firm said the improved margins were driven by favorable customer and product mix, with fourth-quarter revenue expected at the low end of its previously guided $11 billion to $12.5 billion range. Retail traders on Stocktwits reacted with mixed sentiment, with some remaining skeptical and seeking more details on the new customers behind the backlog. Super Micro will report full earnings on Aug. 11.
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