I'm a full-time analyst and portfolio manager of a technology fund with 5 years of experience. I graduated in Mechanical Engineering from the Federal University of Rio de Janeiro (Brazil) and École Centrale de Lyon (France). I'm currently licensed by the Brazilian Securities Commission (CVM) as both a portfolio manager and an investment consultant. I also completed CFA Level II in 2024. I previously worked in the oil and gas sector before making a career change. I began studying global equities to invest my ...

JR Research is an opportunistic investor. He was recognized by TipRanks as a Top Analyst. He was also recognized by Seeking Alpha as a "Top Analyst To Follow" for Technology, Software, and Internet, as well as for Growth and GARP. He identifies attractive risk/reward opportunities supported by robust price action to potentially generate alpha well above the S&P 500. He has also demonstrated outperformance with his picks. He focuses on identifying growth investing opportunities that present the most attracti ...

Group 1 - Super Micro Computer (SMCI) shares fell 18% on Wednesday, reaching $46.88, marking a total decline of 24% for the week, although the stock is still up 56% year-to-date [1][4] - The decline was triggered by disappointing fiscal fourth-quarter results, with adjusted earnings of $0.41 per share, missing the Wall Street estimate of $0.45, and down from $0.63 a year ago. Revenue increased by 8% year-over-year to $5.8 billion but fell short of the expected $6 billion [4] - The adjusted gross margin decreased to 9.6%, below the anticipated 10%, raising concerns among analysts [4] Group 2 - CEO Charles Liang mentioned production scaling challenges due to limited working capital, which the company is addressing through a $2.3 billion convertible bond offering initiated in June, following a $700 million raise in February [5] - Super Micro provided weaker-than-expected guidance for its fiscal first-quarter revenue and earnings but projected a more optimistic long-term revenue of $33 billion for fiscal 2026, significantly higher than analysts' $20 billion estimate [6] Group 3 - Analysts have mixed views on SMCI stock; Bank of America maintained an 'Underperform' rating with a $37 price target, citing ongoing margin pressure and potential delays in customer purchases due to upcoming Nvidia GPUs [7] - Conversely, Needham maintained a 'Buy' rating and raised its price target from $39 to $60, highlighting potential for margin recovery and growth opportunities in new markets, particularly in Direct Liquid Cooling and Building Block Solutions [8]

Core Insights - Super Micro Computer (SMCI) reported fourth-quarter fiscal 2025 non-GAAP earnings of 41 cents per share, missing the Zacks Consensus Estimate by 6.8%, and reflecting a year-over-year decline of 34.9% [1][10] - The company's fourth-quarter fiscal 2025 revenues were $5.76 billion, which also missed the Zacks Consensus Estimate by 3.82%, although it showed an 8.5% year-over-year improvement and a 25.2% sequential increase [1][10] Revenue Breakdown - Revenues from Server and storage systems, which constitute 97.6% of total revenues, increased by 10% year over year to $5.62 billion, while revenues from subsystems and accessories decreased by 48% to $139 million [3] - By geography, the United States accounted for 38% of total sales, down 33% year over year, while Asia represented 42% of revenues, reflecting a significant year-over-year increase of 91% [3] - Revenues from Europe accounted for 15% of total revenues, showing a year-over-year increase of 66%, and revenues from the Rest of the World accounted for 5%, increasing by 53% year over year [4] Customer Vertical Performance - Enterprise/Channel revenues totaled $2.1 billion, accounting for 36% of total sales, with a year-over-year increase of 7% and strong sequential growth of 6% [5] - OEM Appliance and Large Data Center verticals contributed $3.7 billion, representing 63% of total fourth-quarter revenues, while the Emerging 5G, Telco, Edge, and IoT verticals accounted for only 1% of total revenues [5] Operating Metrics - SMCI's non-GAAP gross margin was 9.6%, reflecting a decline of 70 basis points year over year and 10 basis points sequentially, primarily due to an unfavorable product and customer mix [6] - Non-GAAP operating expenses increased by 29% year over year to $239 million, although they declined by 11% sequentially, driven by heavy investments in next-generation AI systems and expansion of production capacity [7][8] Financial Position - As of June 30, 2025, total cash and cash equivalents were $5.17 billion, up from $2.54 billion in the previous quarter [9] - Operating and free cash flow for the reported quarter were $864 million and $841 million, respectively [9] Future Outlook - SMCI forecasts fiscal 2026 revenues of at least $33 billion, with first-quarter sales expected to be between $6 billion and $7 billion [10][11]

Super Micro Computer, Inc. (NASDAQ: SMCI ) aka "Supermicro" reported its fiscal Q4 '25 earnings yesterday evening, and the stock quickly saw a 20% slide . Going into earnings, shares were in the $58 range, and now inI’m a retired Wall Street PM specializing in TMT; since kickstarting my career, I’ve spent over two decades in the market navigating the technology landscape, focusing on risk mitigation through the dot com bubble, credit default of ‘08, and, more recently, with the AI boom. In one word, what I’ ...

另外，特斯拉涨超3%，亚马逊、博通涨近2%，英伟达、谷歌、Meta均小幅上涨。 当前，业绩仍是美股市场的核心主线，多家美股巨头在财报发布后，股价均出现剧烈波动。 其中，Shopify股价一度暴涨超23%，总市值升至1989亿美元（约合人民币14300亿元）。其披露的财报 显示，今年二季度的营收、每股收益、总商品交易额（GMV）均超预期，预计第三季度营收同比增速 将达25%～29%。 业绩的利好彻底引爆。 受业绩超预期刺激，今晚美股开盘后，多家巨头股价集体飙涨，其中电商巨头Shopify一度暴涨超23%， 号称"小英伟达"的Astera Labs盘初最高暴涨超34%，AI巨头Arista Networks一度大涨超17%。 与此同时，美联储降息预期升温也点燃了美股市场的做多热情。美国明尼阿波利斯联储主席卡什卡利在 最新的采访中表示，美国劳动力市场正在降温，今年美联储降息两次是合理的。据芝商所（CME）"美 联储观察"，9月降息25个基点的概率已飙升至93.2%。 深夜暴涨 北京时间8月6日晚间，美股开盘后，三大指数震荡走强，截至23:30，道指涨0.33%，纳指涨0.83%，标 普500指数涨0.67%。 美股 ...

Super Micro Computer posted quarterly results that missed analysts' forecasts as the server maker said it faced higher costs from tariffs and changes required by a major customer. https://t.co/VoGd4reGr5 ...

Company Performance - Super Micro Computer Inc (SMCI) stock declined by 20.7% to $45.43 following a fiscal fourth-quarter earnings and revenue miss [1] - The company provided a disappointing annual profit outlook of $33 billion, significantly lower than the previously set goal of $40 billion [1] Industry Context - Both Super Micro Computer and Advanced Micro Devices (AMD) reported underwhelming results in their artificial intelligence (AI) data center segments, with AMD's stock down 8.8% [2] Technical Analysis - The $46 level has acted as both pressure and support in recent months, but the stock has lost support at the 20-day moving average, indicating a potential worst day since October 2024 [3] - Despite the recent decline, SMCI is still up 51.6% since the start of 2025 [3] Options Market Activity - The stock has been placed on the short sell restricted (SSR) list amid volatility, with 308,000 calls and 196,000 puts exchanged, which is three times the typical options volume [4] - The most popular options include the weekly 8/8 52-strike put and the monthly 8/15 49-strike call, with new positions opening at the August 43 put [4] - Calls have been more popular than usual over the last 10 weeks, with SMCI's 50-day call/put volume ratio ranking higher than 85% of readings from the past year [5]

I predicted three months ago - Super Micro would hit another purchasing delay in 2Q25, and that's exactly what happened.Super Micro: Shortfall stem from specification changes from a major new customer that delay revenue recognition.Transcript：https://t.co/Smp7fMXTQB https://t.co/ULN2VlFQl7郭明錤 (Ming-Chi Kuo) (@mingchikuo):Let’s take a quick look at Super Micro’s (SMCI) preliminary results. Long story short: this quarter’s numbers are likely to stay under pressure.AI servers currently split into three main ty ...

Super Micro's Financial Performance & Challenges - Super Micro's shares plummeted after weak Q4 results and soft guidance, dropping more than 18% [1] - The company is facing a growth trap, burning through cash and sacrificing margins to scale production for AI server demand [1] - Super Micro's CEO admitted a lack of working capital for rapid expansion, leading to a $23 billion convertible bond offering in June [2] - Margins collapsed from 18% at the end of 2022 to under 10% currently [2] Competitive Landscape & Risks - Super Micro competes on price against larger players like Dell and HP Enterprise while assembling expensive AI components [3] - Customer concentration is a risk, with approximately four customers contributing over 50% of revenues [3] Technical Advantages & Opportunities - Super Micro has technical advantages, being first to market with new AI server configurations and possessing valuable liquid cooling technology [4] - The company needs to translate technical leadership into sustainable profitability and reduce reliance on Nvidia's chip releases [5] - Super Micro is participating in a major infrastructure buildout in the tech industry [5] AMD & China Shipments - AMD's CEO was unsure about the status of licenses for China shipments, causing concern on Wall Street [8] - The negative reaction to AMD's stock shouldn't be solely based on China shipments [8] - AMD is ramping up GPU production this year and next year, with next iterations planned [9]