Super Micro shares soar 36% to record on uplifting preliminary results

Sunday, 21 January 2024 Sunday, 21 January 2024

Super Micro shares reached an all-time high, soaring 36% on Friday after reporting better-than-expected revenue in a preliminary earnings report.

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[{"selector":"#anim-4ebd1bd2-3c9c-42da-bbff-46bcfa1cb994","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-57e303bb-fd8f-4244-b877-05bd30d59147","keyframes":{"transform":["translate3d(0px, -925.66537%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Super Micro's stock witnessed a remarkable 246% increase in the previous year and an 87% jump in 2022.

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Nvidia's revenue tripled in the third quarter, driven by high demand from cloud and internet companies for its GPUs.

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Analysts anticipate a similar increase in Nvidia's revenue for the fourth quarter.

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Super Micro's market cap surpassed $23 billion, reaching a closing stock price of $423.36, a new record high.

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