Supermicro Surges as Q4 Sales Nearly Double and Orders Top $60 Billion

Super Micro Computer climbed about 18% in afternoon trading Wednesday, one of the sharpest single-day moves among large technology stocks, after the server maker reported fiscal fourth-quarter sales of $11.1 billion and told investors its order book had grown to a record. Revenue nearly doubled from a year earlier. Shares traded at $37.45, on volume already far above a normal session.

Sales of $11.1 billion, up from $5.8 billion a year ago

For the quarter ended June 30, Supermicro reported net sales of $11.1 billion, against $5.8 billion in the same period last year and $10.2 billion in the prior quarter. Every headline line beat the prior year. GAAP diluted earnings came to $1.62 a share, up from $0.31 a year earlier; on a non-GAAP basis the figure was $1.70. Gross margin reached 17.5%, roughly double the level of a year ago. For the full fiscal year, sales totaled $39.1 billion, up from $22.0 billion in fiscal 2025.

A record backlog, and a customer the company won’t name

The number that moved the stock was the backlog. Chief Executive Charles Liang said the company added several hundred enterprise and other customers over the past year, booked more than $60 billion in new orders, and entered fiscal 2027 with a record backlog. Demand for servers built around AI chips has run ahead of what most of the industry can supply, and Supermicro is one of the largest assemblers of those systems.

The margin jump is the part Wall Street will study hardest. In a preliminary update in July, the company tied gross margins well above its earlier guidance to a favorable customer and product mix. That customer stayed unnamed. A mix that flatters one quarter can fade in the next, and Supermicro’s margins have swung sharply before.

Guidance calls for another step up

For the September quarter, Supermicro guided to sales of $14.5 billion to $15.5 billion and non-GAAP earnings of $1.01 to $1.10 a share, both above where it finished the June quarter. For all of fiscal 2027 it pointed to revenue of $65 billion to $72 billion. Those are large figures for a company that booked $22 billion in sales as recently as fiscal 2025. Both marks would set records.

The stock had gone nowhere for weeks

Wednesday’s move stands out against a quiet stretch. The shares had closed between $31.13 and $31.60 over the three prior sessions, drifting in a narrow band. Volume ran heavy. Even after the jump, the stock sits near $37, against a 52-week high of $66.44 and a low of $17.25. The broader market was modestly higher, with the S&P 500 and the Nasdaq both up on the day.

The next report is the September quarter

The real test comes with the September-quarter results, when investors will see whether the guided sales and the recovered margins hold. One quarter is not a trend. Whether the elevated gross margin persists is the open question, and any detail on which customers are driving the backlog will draw the same scrutiny.

This is a general-market summary for information only — not investment advice, and not a recommendation regarding any security.