Shares of server and data storage provider Super Micro Computer (SMCI) remain in focus on Monday after recovering 20% last week ahead of the company’s earnings report due after Tuesday’s close, amid expectations of quarterly sales growth driven by soaring demand for artificial intelligence (AI).
Since reaching a record high in early March, the S&P 500 constituent stock has fallen as much as 45% over the past two months as investors may have used announcements of a share offering and the company’s decision to break away from its recent pattern of disclosing its preliminary results to take some profits off the table.
However, Super Micro Computer bulls returned from the sidelines last week to bid up the tech infrastructure company’s share price leading into earnings, halting three consecutive weeks of declines. Analysts expect Super Micro Computer to post fiscal third quarter net sales of $3.99 billion, indicating staggering top-line growthof 212% …