Super Micro Sees 4% Rise Amid Margin Beat Despite Guidance, HPE and Dell Also Gain
Super Micro Computer (SMCI) rose by 4%, driven by a strong non-GAAP gross margin of 17.6% in fiscal Q4 2026 that exceeded expectations but was followed by downward guidance for the current quarter to between 10.4% and 10.8%. CFO David Weigand attributed part of this improvement to favorable customer mix, lower tariffs, and a one-time reduction in inventory reserves. Hewlett Packard Enterprise (HPE) also gained 5%, despite no new company-specific news, while Dell raised its fiscal 2027 revenue guidance to $192 billion due to record AI orders of $61 billion. The broader tech market remained flat as the gains were concentrated in the AI server sector. The mixed signals from Super Micro—strong performance followed by conservative forward-looking guidance—are raising questions about whether today's stock rally is overestimating future profitability.
Topics: AI servers Dell Technologies Gross margin beat Hewlett Packard Enterprise Super Micro Computer