business
Super Micro Computer Stock Rises Nearly 20% After Report of $60 Billion in New Orders
@KobeissiLetter reported the shares rose after the company booked nearly $60 billion in new orders last quarter. Revenue is now projected to nearly quintuple year-over-year for the period.
Jul 21, 5:02 PM·1m read1 source
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The disclosure of nearly $60 billion in new orders last quarter drove Super Micro Computer shares up nearly 20 percent, @KobeissiLetter reported. The surge followed the disclosure of the order backlog, which prompted analysts to revise revenue expectations sharply higher. The company is now projected to nearly quintuple year-over-year revenue for the quarter.
The single-source report provided no further details on the timing of the order announcements or the identity of the customers.
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