TLDR
- SMCI stock drops 8% after revenue shifts to Q2, but FY2026 outlook holds.
- Revenue delay hits SMCI stock, yet strong AI demand drives future growth.
- SMCI trims Q1 forecast, shifting billions to Q2 amid soaring AI system demand.
- Despite a stock dip, SMCI eyes robust Q2 recovery and record design wins.
- SMCI faces short-term drop, but reaffirms $33B FY2026 growth ambition.
Super Micro Computer(SMCI) stock dropped sharply during Thursday trading, falling nearly 8% from around $52.50 to $48.31.
Super Micro Computer, Inc., SMCI
The decline followed the company’s preliminary Q1’26 update, which revealed a revenue shortfall due to deferred deliveries. SMCI emphasized continued strong demand and reaffirmed its full-year revenue outlook.
Revenue Adjustment and Market Reaction
SMCI reported estimated Q1 ’26 revenue of $5 billion, below its earlier guidance of $6 billion to $7 billion. The company attributed the reduction to design win upgrades that shifted some revenue into Q2’26. The announcement triggered a quick sell-off, leading to significant volatility during early trading hours.
The update also confirmed that several large design wins, exceeding $12 billion in total, are scheduled for Q2’26 delivery. This adjustment suggested deferred recognition rather than lost sales, which may help stabilize upcoming quarters. The lower preliminary figures pressured the stock in the short term and reflected immediate market concerns.
Despite the intraday decline, SMCI stock stabilized later in the session as traders assessed the long-term implications. The management reiterated expectations of at least $33 billion in revenue for fiscal 2026. This reaffirmation reflected continued confidence in expanding AI and data center system deployments.
Strong Demand Outlook and Product Momentum
SMCI highlighted strong demand for its advanced systems, including Nvidia GB300, B300, RTX Pro, and AMD 355X LC. These products, now shipping to global customers, underpin the company’s growing presence in large-scale infrastructure markets. Expanding liquid-cooled system deployments reinforced its leadership in high-efficiency server solutions.
The company stated that customer engagements reached record levels across AI and liquid-cooled solutions. These engagements are translating into multi-quarter volume commitments, strengthening visibility into fiscal 2026 performance. SMCI anticipates accelerating shipments in the second quarter and beyond.
Management noted increasing demand from enterprise and hyperscale customers, reflecting industry momentum in next-generation computing. The company’s product range continues to evolve alongside technological advances in AI and data center infrastructure. The operational strategy remains focused on execution and scalability through the fiscal year.
Earnings Call and Preliminary Financial Notes
SMCI scheduled its Q1’26 earnings call for November 4, 2025, at 5 p.m. EST. The company will provide detailed financial results, revenue guidance, and updates on customer orders during the session. The webcast and replay will be accessible through its investor relations website.
Management clarified that Q1’26 results remain preliminary and subject to final review and audit adjustments. The reported figures may change once final statements are completed and filed with the Securities and Exchange Commission. SMCI emphasized transparency and adherence to U.S. accounting standards throughout the reporting process.
The early stock decline reflected short-term reaction to adjusted revenue expectations rather than structural weakness. SMCI continues to project strong annual growth driven by robust design wins and expanding market demand. The upcoming earnings call will provide further clarity on the company’s execution strategy and near-term revenue recovery trajectory.
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