Supermicro jumps following Q2 beat, up 91% since included on ProPicks' strategy

Investing.com — Super Micro Computer (NASDAQ:SMCI) lifted its annual guidance on Monday, following its release of Q2 earnings that exceeded expectations. This positive performance is attributed to ongoing AI-led demand in the data center hardware sector.

The company's shares saw a significant pre-market increase of over 10% today.

Supermicro reported an EPS of $5.59, with revenue totaling $3.66 billion. These figures considerably surpassed analyst predictions of an EPS of $4.51 per share on revenue of $2.8B. The results also exceeded Supermicro's own Q2 guidance provided on Jan 18, which forecasted an EPS between $5.40 and $5.55 per share.

For Q3, the IT Solutions provider anticipates net sales to be between $3.7B and $4.1B, with an EPS ranging from $5.20 to $6.01. This projection significantly exceeds analyst estimates of an EPS of $4.35 on revenue of $2.93B.

Looking forward, Supermicro raised its revenue guidance for fiscal 2024 to a range of $14.3B to $14.7B, up from the previous forecast range of $10B to $11B.

Super Micro Computer's extraordinary performance was seen in advance by our flagship AI-powered stock-picking toll: ProPicks.

The company has been an integral part of our Tech Titans strategy since the start of January.

Powered by advanced AI technology, our strategy focuses on identifying 15 companies with the most exciting tech opportunities. Already established with a sizeable market cap, this list includes current industry leaders and rapidly-emerging businesses - each with impressive metrics and innovations.

Tech Titans strategy outperformed the market by a lofty 1,146.6% over the last decade.

In fact, if you had joined ProPicks at the beginning of the month, you would have scored a 91% gain on Super Micro Computer alone.

And this is just one of the picks within our impressive selection of 70+ stocks divided among our six market-beating strategies. The real secret behind our outperformance lies in the strength of our curated list of winners - and not just on single picks.

Want to see all 15 stocks from the Tech Titans strategy and all other strategies? Subscribe now - up to 50% off in our New Year’s sale.

*Readers of this article get an extra 10% off our annual and 2-year Pro+ plans with codes PROTIPS2024 and PROTIPS20242. Limited time offer—act now!