BUZZ-Super Micro surges after strong business update, books $60 billion in orders

Super Micro Computer, Inc.

Super Micro Computer, Inc.

SMCI

0.00

** Super Micro Computer's shares SMCI.O soar 14.2% to $29.15 premarket

** Co says it secured more than $60 billion in new orders in Q4

** In preliminary Q4 earnings update, co says it expects adjusted gross margin in the range of 15% to 17% vs nearly double its previous forecast of 8.2%-8.4%

** AI server maker expects quarterly revenue near the low end of its $11 billion to $12.5 billion forecast range vs analysts' expectation of revenue of $11.67 billion - LSEG-compiled data

** Co set to post quarterly results on August 11

** 22 brokerages rate stock "hold" on average, median PT $39 — LSEG-compiled data

** YTD, stock down about 13% as of last close


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