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Will Strong Server and Storage Aid SMCI's Q1 Earnings Growth?
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Super Micro Computer (SMCI - Free Report) is expected to report growth in Server and Storage Systems on a year-over-year basis in first-quarter fiscal 2024 earnings results set to be released on Nov 1.
SMCI’s top-line growth is expected to have benefited from its robust AI portfolio and expanding storage systems offerings.
The Zacks Consensus Estimate for fiscal first-quarter 2024 Server and Storage Systems revenues is pegged at $1.91 billion, indicating growth of 11.7% on a year-over-year basis.
Further, strength across its Subsystems and accessories segment is likely to have contributed well to SMCI’s performance in the quarter under review.
Click here to know how SMCI’s overall fiscal first-quarter performance is likely to be.
Diversified AI Offerings: Key to SMCI’s Prospects in Q1
SMCI’s strengthening AI offerings are expected to have expanded its customer base, facilitating growth.
The company’s building block server architecture, offering the best and broadest application-optimized GPU solutions on the market, is expected to have further addressed the artificial intelligence infrastructure demand.
SMCI’s diversified AI portfolio is expected to have strengthened its footprint across enterprise customers, which is likely to have boosted standard server sales.
This, in turn, is expected to have bolstered the Server and Storage Systems’ revenues.
AI deployments into the H100-based systems are expected to have benefited its sales.
Also, AI integrations into SMCI’s systems are expected to have boosted Subsystems and accessories revenues.
The consensus estimate for fiscal first-quarter 2024 Subsystems and accessories revenues is pegged at $153.47 million, indicating 10.3% year-over-year growth.
SMCI, which currently has a Zacks Rank #3 (Hold), is likely to have gained from its continuing partnership with NVIDIA (NVDA - Free Report) , following the latter’s restricted GPU shipments in China.
NVIDIA’s trade restrictions with China are expected to have enhanced SMCI’s prospects due to increased availability of NVDA’s GPU solutions.
Key Earnings to Watch
SMCI shares have outperformed the Zacks Computer & Technology sector year to date. While SMCI shares have returned 188.2%, the sector has gained 29.8%.
Investors are eagerly waiting for the earnings releases of GoDaddy (GDDY - Free Report) and Fastly (FSLY - Free Report) in the broader sector.
Image: Bigstock
Will Strong Server and Storage Aid SMCI's Q1 Earnings Growth?
Super Micro Computer (SMCI - Free Report) is expected to report growth in Server and Storage Systems on a year-over-year basis in first-quarter fiscal 2024 earnings results set to be released on Nov 1.
SMCI’s top-line growth is expected to have benefited from its robust AI portfolio and expanding storage systems offerings.
The Zacks Consensus Estimate for fiscal first-quarter 2024 Server and Storage Systems revenues is pegged at $1.91 billion, indicating growth of 11.7% on a year-over-year basis.
Further, strength across its Subsystems and accessories segment is likely to have contributed well to SMCI’s performance in the quarter under review.
Click here to know how SMCI’s overall fiscal first-quarter performance is likely to be.
Super Micro Computer, Inc. Revenue (TTM)
Super Micro Computer, Inc. revenue-ttm | Super Micro Computer, Inc. Quote
Diversified AI Offerings: Key to SMCI’s Prospects in Q1
SMCI’s strengthening AI offerings are expected to have expanded its customer base, facilitating growth.
The company’s building block server architecture, offering the best and broadest application-optimized GPU solutions on the market, is expected to have further addressed the artificial intelligence infrastructure demand.
SMCI’s diversified AI portfolio is expected to have strengthened its footprint across enterprise customers, which is likely to have boosted standard server sales.
This, in turn, is expected to have bolstered the Server and Storage Systems’ revenues.
AI deployments into the H100-based systems are expected to have benefited its sales.
Also, AI integrations into SMCI’s systems are expected to have boosted Subsystems and accessories revenues.
The consensus estimate for fiscal first-quarter 2024 Subsystems and accessories revenues is pegged at $153.47 million, indicating 10.3% year-over-year growth.
SMCI, which currently has a Zacks Rank #3 (Hold), is likely to have gained from its continuing partnership with NVIDIA (NVDA - Free Report) , following the latter’s restricted GPU shipments in China.
NVIDIA’s trade restrictions with China are expected to have enhanced SMCI’s prospects due to increased availability of NVDA’s GPU solutions.
Key Earnings to Watch
SMCI shares have outperformed the Zacks Computer & Technology sector year to date. While SMCI shares have returned 188.2%, the sector has gained 29.8%.
Investors are eagerly waiting for the earnings releases of GoDaddy (GDDY - Free Report) and Fastly (FSLY - Free Report) in the broader sector.
GoDaddy, which sports a Zacks Rank #1 (Strong Buy), is scheduled to release third-quarter 2023 results on Nov 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for GDDY’s earnings is pegged at 71 cents per share, suggesting a 12.7% jump from the prior-year levels.
Fastly is set to report third-quarter 2023 results on Nov 1.
The Zacks Consensus Estimate is pegged at a loss of 7 cents per share, indicating a 50% rise from a year ago.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.