New York, February 4, 2026, 17:33 ET — After-hours
- SMCI climbed as much as 13.8% to $34.82 in after-hours before settling at $33.76.
- Supermicro raised its fiscal 2026 revenue forecast to a minimum of $40 billion and projected Q3 sales of at least $12.3 billion.
- Gross margin dropped to 6.3%, fueling ongoing concerns about profitability.
Shares of Super Micro Computer, Inc. climbed 13.8% to $33.76 in after-hours trading Wednesday, following a strong run during the regular session. Throughout the day, the stock fluctuated between $31.83 and $34.82.
The shift is significant since investors view Supermicro as an immediate indicator of data-center demand linked to generative AI. The company delivers the racks and servers fueling the surge, though it must tread carefully not to reveal the financial details.
Wall Street remains fixated on execution—not the presence of orders, but their timely arrival and solid margins. Before Wednesday’s rebound, the stock had dropped roughly 29% over three months. KeyBanc analyst Brandon Nispel emphasized the importance of “consistent margin and revenue execution.” (Barron’s)
Supermicro announced late Tuesday that it anticipates net sales of no less than $12.3 billion for its fiscal third quarter, projecting fiscal 2026 net sales to reach at least $40.0 billion. CEO Charles Liang highlighted the company’s rapid expansion to back substantial AI and enterprise rollouts. (Super Micro Computer)
For the quarter ending Dec. 31, the company posted net sales of $12.68 billion and a net income near $401 million, translating to diluted earnings of $0.60 per share. Gross margin—the portion of revenue remaining after direct costs—stood at 6.3%. Non-GAAP results exclude items like stock-based compensation. (SEC)
The day before, Supermicro upped its annual revenue outlook to at least $40 billion, up from the previous $36 billion forecast, surpassing analysts’ consensus of $10.23 billion for the quarter, per LSEG data. The results factored in roughly $1.5 billion in shipments delayed from the first quarter. CFO David Weigand said on the earnings call, “Order strength remains strong from large global data center and enterprise customers.” (Reuters)
The profit line is where the trouble lies. MarketWatch reported that this quarter’s gross margin fell short of the previous one. Liang cited a difficult customer mix and ongoing supply-chain problems, while analysts warned that climbing memory prices could add pressure on hardware manufacturers. (MarketWatch)
The jump in SMCI came amid a bumpy day for AI stocks. Advanced Micro Devices dropped after delivering a weaker-than-expected outlook, underscoring that investors remain cautious about which segments of the AI supply chain will actually translate demand into profits today. (Reuters)
On Tuesday, Supermicro filed an 8-K that included its earnings release as an exhibit. (SEC)
The quarter didn’t resolve the bigger question: Supermicro is expanding rapidly, but its margins remain tight. Even slight changes in pricing, component costs, or delivery schedules can significantly impact results. If customers delay deployments or postpone rollouts once more, the stock usually reacts swiftly.
Investors are now focused on whether the company hits its third-quarter target ending March 31, and if gross margin steadies as shipments work their way through the pipeline.
