US Stock Market Move | Super Micro Computer, Inc. (SMCI.US) surged more than 18% with gross profit margin in the fourth quarter far exceeding expectations.

On Wednesday, Super Micro Computer, Inc. (SMCI.US) surged more than 18%, closing at $30.24. In terms of news, preliminary results released by Super Micro Computer, Inc. showed that the gross margin for the quarter ending on June 30 is expected to be between 15% and 17%, far exceeding the previously provided guidance of 8.2% to 8.4%, primarily due to favorable changes in customer structure and product portfolio. The company also disclosed that revenue for the fourth quarter will be at the lower end of the previously provided guidance range of $11 billion to $12.5 billion (with a midpoint of $11.75 billion), with the market generally expecting $11.68 billion. Due to new orders exceeding $6 billion in the quarter, backlogged orders reached an all-time high.