BUZZ-PREVIEW: Super Micro falls after recent rally; results, update due after the bell
Shares of Super Micro Computer SMCI.O are down nearly 7% in afternoon trading Tues and on track to snap a five-day string of sharp gains, with the AI server maker due to release qtrly results and give a business update after the closing bell
Analysts expect co to report a jump in rev to $6.13 bln from $2.12 bln in the yr-ago qtr, while adj earnings are seen at 75c/shr vs 34c in the yr-ago period, according to LSEG
The stock remains up nearly 45% since its Feb. 3 close, which was a 9-week low
On Feb. 5, SMCI ramped up production of Nvidia's NVDA.O Blackwell rack-scale solutions
Analyst recommendations on the stock include four "buy" ratings, five "hold" ratings and two "sell" ratings
The median 12-mo price target on the stock is $32.56; the stock was last at $39.75
In Dec 2024, it was announced Super Micro was being removed from the Nasdaq 100 .NDX
Including the session move, SMCI is up ~30% YTD while the Nasdaq Composite .IXIC is up about 2%
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