markets

Luke Kawa5/6/25

Super Micro sinks after issuing disappointing financials for the second time in eight days

Super Micro Computer is sinking again, down 6% in after-hours trading.

Last week, the AI server company gave investors a heads-up that its upcoming earnings would disappoint by issuing a preliminary set of results that were downright ugly, and the stock tumbled double digits the next session.

Management explained away the big miss as a timing issue, saying, “During Q3 [that is, the three months ending March 31] some delayed customer platform decisions moved sales into Q4.”

In other words, customers wanted servers with the new Blackwell GPUs, not older products like the Hopper.

That reasoning rings a bit hollow now, with the company indicating that its current quarter will also be weaker than Wall Street anticipated.

For the three months ending June 30, management expects sales between $5.6 billion and $6.4 billion on diluted earnings per share between $0.40 and $0.50. The midpoint of those ranges falls far below what analysts had been looking for: $0.64 in earnings per share on revenues of nearly $6.6 billion.

During the conference call that followed the release of these results, CFO David Weigand tacked on “and later” to their prior statement related to the timing of sales.

One wonders how the extra week helped Super Micro learn (or decide to tell investors) that these sales wouldn’t be made up in a timely fashion.

“September will be even stronger” than the June quarter, according to CEO Charles Liang, who said the firm “remained confident” in its $40 billion revenue target for fiscal 2026 (July 2025 through June 2026).

One also wonders how much faith investors can have in Super Micro’s guidance — relating to the short and long term — after being disappointed twice in a little over a week.

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The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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