Super Micro Computer shares rise 9% on fiscal 2027 outlook that blew past Wall Street estimates

Super Micro Computer just told Wall Street its revenue projections were off by about $15 billion. The market’s response was predictable: SMCI shares jumped roughly 9% in after-hours trading on August 11, closing at $31.60. The server maker issued fiscal 2027 revenue guidance of $65B to $72B, a range that makes the analyst consensus of roughly $52.5B to $53.3B look quaint. That’s not a rounding error. It’s a gap wide enough to suggest Wall Street fundamentally underestimated how much money is flowing into AI infrastructure right now. The numbers behind the surge SMCI reported fourth-quarter fiscal 2026 revenue between $11.1B and $11.12B, representing a 93% increase year-over-year. The company also posted non-GAAP earnings per share of $1.70, beating analyst estimates. For the first quarter of fiscal 2027, management guided for sales of $14.5B to $15.5B. If you annualize even the low end of that range, you get to $58B, which already exceeds what the Street had penciled in for the full year. Perhaps the most striking figure in the entire report: a record backlog exceeding $60B in new orders. That backlog alone is larger than what analysts expected SMCI to generate in total revenue for...