SMCI · Super Micro Computer, Inc.
Price & Indicators
Raw chart and full-history price indicators begin at the captured split on Oct 1, 2024; bars on opposite sides are not compared.
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AI Brief
TL;DR.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Ask ALVIS about this →Equibles Research
our published analysis of this company-
Research ThesisSuper Micro Computer's 15–17% margin guide against a 10.1% recent print makes the bear trade the heavier one
The $60B FQ4 backlog is the cleanest demand signal in AI servers, but the lifted 15–17% gross-margin guide against a 10.1% Q3 FY2026 print, an active export-control board review, and 16.2% short interest leave the bear case as the heavier of the two trades heading into the August 11 print.
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Research ThesisSandisk's $42 billion contract floor has bought the bull case three times trailing revenue; the bear trades it for the multiple
Sandisk re-rated on one quarter of contracted datacenter revenue: three fiscal Q3 contracts carry roughly $42 billion of minimum contractual revenue, five multi-year deals are backed by over $11 billion of guarantees, and the stock still sits 45.3% off its $2,335 52-week high at 14.1× EV/Revenue, the cheapest of the three storage names on that multiple.
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
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| Adjusted EBITDA non-GAAP | 3.45B | Year Ended June 30, 2026 | — |
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| Non-GAAP effective tax rate non-GAAP | 20.4% | Year Ended June 30, 2026 | — |
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| Non-GAAP gross margin (%) non-GAAP | 10.9% | Year Ended June 30, 2026 | -2.7% |
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| total new orders | $60B | the fourth quarter of fiscal 2026 | — |
| Capital expenditures and investments | $97M | Q3 FY2026 | — |
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| Cash flow used in operations | $6.6B | Q3 FY2026 | — |
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| Non-GAAP diluted net income per common share non-GAAP | $0.84 | Q3 FY2026 | +171.0% |
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| Non-GAAP Gross Profit non-GAAP | $2.31B | Nine Months Ended March 31, 2026 | — |
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| Non-GAAP net income - basic non-GAAP | $1.29B | Nine Months Ended March 31, 2026 | — |
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| Non-GAAP net income - diluted non-GAAP | $1.3B | Nine Months Ended March 31, 2026 | — |
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| Non-GAAP Net Income per common share - basic non-GAAP | $2.15 | Nine Months Ended March 31, 2026 | — |
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| Non-GAAP Net Income per common share - diluted non-GAAP | $1.89 | Nine Months Ended March 31, 2026 | — |
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| Non-GAAP Operating Expenses non-GAAP | $722.04M | Nine Months Ended March 31, 2026 | — |
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| Adjusted EBITDA % of net sales non-GAAP | 6.7% | Q1 FY2026 | — |
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| Capital expenditures | $32M | Q1 FY2026 | — |
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| Gross margin | 11.2% | fourth quarter of fiscal year 2024 | — |
| NON-GAAP INCOME FROM OPERATIONS non-GAAP | $1.49B | Twelve Months Ended June 30, 2024 | — |
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| NON-GAAP OPERATING MARGIN non-GAAP | 10% | Twelve Months Ended June 30, 2024 | -12.3% |
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| NON-GAAP TAX EXPENSE non-GAAP | $155.54M | Twelve Months Ended June 30, 2024 | — |
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| NON-GAAP OPERATING EXPENSE non-GAAP | 449.23M | Nine Months Ended March 31, 2024 | +31.1% |
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| Cash flow provided by operations | $271M | first quarter of fiscal year 2024 | — |
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Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Computer Hardware — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
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SMCI
this stock
Super Micro Computer, Inc.
|
$22.62B | +36.1% | +11.7% | 19.7 | 15.2% |
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DELL
Dell Technologies Inc.
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$318.10B | +289.9% | -13.6% | 39.1 | 2.0% |
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ANET
Arista Networks, Inc.
|
$250.76B | +51.7% | +28.6% | 62.9 | 1.0% |
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SNDK
Sandisk Corp
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$199.08B | +591.3% | +10.4% | — | 4.6% |
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STX
Seagate Technology Holdings plc
|
$199.04B | +253.5% | -36.7% | 63.2 | 3.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
Raw-price comparisons begin at the captured split on Oct 1, 2024; windows that need an earlier baseline remain unavailable.
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| SMCI | +28.0% | +64.8% | +29.7% | +40.3% | +36.1% |
| SPY | +0.4% | +4.5% | +13.8% | +3.9% | +13.9% |
| vs SPY | +27.6% | +60.3% | +16.0% | +36.4% | +22.3% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.