Super Micro Computer Stock Is Tanking After Hours: What's Fueling The Sell-Off?
Shares of Chip Stocks Are Trading Lower After Super Micro Computer Cut Its Preliminary Guidance.
Super Micro Computer's performance forecast falls far short of expectations, plunging 20% in after-hours trading, dragging down NVIDIA and Dell.
Super Micro Computer's adjusted EPS preliminary data for the third quarter is between $0.29 and $0.31, significantly lower than the Analyst's expectation of $0.53. Revenue is estimated to be between $4.5 billion and $4.6 billion, with an expectation of $5.35 billion. Super Micro Computer stated that during the third quarter, due to delays in platform decisions by some customers, part of the sales have been pushed to the fourth quarter. Due to Super Micro Computer's performance drag, Dell's after-hours Trade dropped nearly 5%, HP Inc declined about 2%, and NVIDIA temporarily fell by 2.9%.
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A JPMorgan survey indicates that the S&P 500 Index has peaked this year, but investors remain bullish on the Magnificent 7.
① A JPMorgan survey shows that 93% of investors believe the S&P 500 Index will hover around 6000 points or lower in the next 12 months, with 40% expecting it to remain within the 5000-5500 points Range; ② Respondents unanimously believe that trade wars and tariff uncertainties will trigger economic consequences, with 61% expecting the USA economy to face stagflation in the next 12 months.
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U.S. stocks closed mixed: the three major Indexes showed different trends as investors focused on Technology stock Earnings Reports.
① Most China Concept Stocks rose, with the Nasdaq China Golden Dragon Index up 0.68%; ② IBM announced a 150 billion dollar investment plan; ③ Sony Group is reportedly considering splitting its Semiconductors business; ④ NXP Semiconductors Q1 revenue was 2.84 billion dollars, higher than market expectations.
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