Super Micro Computer (SMCI) Stock Jumps 13% as Revenue Outlook Tops Estimates by Billions

TLDR Super Micro (SMCI) stock rose about 13% in premarket and late trading after it closed at $32.47 on Tuesday. The company raised its fiscal Q1 revenue outlook to $18.5 billion to $19.5 billion from $14.5 billion to $15.5 billion. Gross margin guidance moved up to 12.0% to 12.5%, from 10.4% to 10.8%. Dell and Hewlett Packard Enterprise gained 5.3% and 4.5% after hours, while chip stocks rose about 2%. Full results are due November 3, and new CFO Mark Long started last week. Super Micro Computer (SMCI) stock jumped about 13% in premarket trading Wednesday. The move followed a sharp increase to the company’s revenue outlook . The stock had closed Tuesday at $32.47.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinCentral.