NEW YORK, August 4, 2026, 11:06 EDT — U.S. markets open trading.
- The stock rose 4.2% to $29.83 during trading on Tuesday morning.
- Initial estimates indicate quarterly gross profit around $1.76 billion at the midpoint of the margin range.
- Super Micro Computer’s final results for the fiscal fourth quarter will be released on August 11.
Shares of Super Micro Computer, Inc. NASDAQ:SMCI gained 4.2% to reach $29.83 as of 10:51 a.m. EDT. The stock hit $29.89, raising its market capitalization to $20.7 billion.
The more significant profit indicator appears beneath revenue. Super Micro forecasts fiscal fourth-quarter revenue to approach $11 billion, with gross margin projected in the 15% to 17% range. These numbers are still preliminary and have not been audited.
With a gross margin of 16%, gross profit is projected to be approximately $1.76 billion. This represents a 73% increase from the third quarter, even though sequential sales are forecast to grow by just 7%. The calculation is based on Super Micro’s disclosed numbers and the lower end of its revenue guidance.
That operating leverage is significant as Super Micro continues to trade at a substantial valuation discount. Its trailing price-to-earnings ratio is under half that of any peer listed below.
| Company | Price | Tuesday move | Market value | Trailing P/E |
|---|---|---|---|---|
| Super Micro Computer, Inc. NASDAQ:SMCI | $29.83 | rose 4.2% | $20.7B | 14.3x |
| Dell Technologies Inc. NYSE:DELL | $456.65 | up 6.4% | $299.6B | 36.4x |
| Vertiv Holdings Co. NYSE:VRT | $273.70 | advanced 4.0% | $107.6B | 62.0x |
| NVIDIA Corp. NASDAQ:NVDA | $209.81 | added 1.5% | $5.12T | 32.0x |
| Hewlett Packard Enterprise Co. NYSE:HPE | $50.77 | gained 1.1% | $72.7B | 46.6x |
The comparison is directional, as each firm features a distinct revenue mix, capital structure and level of exposure to AI investment.
Super Micro had previously projected a fourth-quarter gross margin of only 8.2% to 8.4%. The revised forecast, according to the company, is due to a more advantageous mix of customers and products.
| Fiscal Q4 measure | Q3 actual | Original Q4 guidance | Preliminary Q4 estimate |
|---|---|---|---|
| Revenue | $10.243B | $11.0B–$12.5B | Close to $11.0B |
| GAAP gross margin | 9.9% | 8.2%–8.4% | 15%–17% |
| GAAP gross profit | $1.019B | $0.902B–$1.050B | $1.650B–$1.870B |
| New orders received | Not disclosed | Not disclosed | Above $60B |
*Reporter analysis based on guidance ranges and estimated preliminary revenue of about $11 billion. Company results and forecasts are unaudited.
With sales steady at $11 billion, the adjusted midpoint margin results in an additional $847 million in gross profit. This marks a 93% rise compared to the initial midpoint margin.
Super Micro saw strong demand, announcing over $60 billion in new orders for the fourth quarter and an all-time high backlog. Shipments are scheduled for upcoming quarters.
However, meeting that demand has come at a high cost. The company expended $6.6 billion in operating cash in Q3. By March 31, it reported $1.3 billion in cash reserves compared with $8.8 billion in outstanding bank debt and convertible notes.
| Demand and funding measure | Amount | Reporter comparison |
|---|---|---|
| Q4 order intake | More than $60B | Over 2.9 times current market cap |
| Q4 minimum revenue | About $11B | Orders surpass quarterly revenue by over 5.4 times |
| Q3 operations cash outflow | $6.6B | 64% of Q3 revenue |
| Cash as of March 31 | $1.3B | Roughly 20% of Q3 operating cash outflow |
| Outstanding bank loans and convertible bonds | $8.8B | 6.8 times March 31 cash reserves |
The ratios have been calculated by the reporter. The total order figure can contain commitments that might be cancelled, postponed, or otherwise conditional.
Super Micro announced in June that it planned to raise $7 billion through equity and equity-linked offerings. The company said these funds would enable it to meet approximately $39 billion in orders from over 20 clients.
In May, Chief Executive Charles Liang stated the company “remains robust” as margins improved. The July forecast supported that position, although full figures are yet to be released. Super Micro Computer
Super Micro is set to announce its final fourth-quarter and full-year results following the market close on August 11. Investors will examine if improvements in margin can withstand factors such as shipping schedules, client composition and financing expenses.
Risks: These initial figures have not been audited. Super Micro notes that certain orders might not be finalized and could face cancellation or postponement. The board is currently examining export control-related deals, which may impact projections or past outcomes.
Related articles: NASDAQ:SMCI
