Apr 30, 12:15 PM

Super Micro Shares Plunge 20% on Preliminary Q3 Miss; Seagate Tops Estimates with Strong Q4 Outlook

Super Micro Computer Inc. (SMCI) shares fell sharply in premarket trading, dropping as much as 20% following the release of preliminary third-quarter results that missed analyst estimates. The stock recorded its worst day since February, declining around 18.7% and becoming the most actively discussed ticker on Stocktwits. The profit warning from Super Micro also contributed to early downside pressure on technology stocks, with the Nasdaq 100 showing technical signs of volatility. In contrast, Seagate Technology Holdings plc (STX) reported strong fiscal third-quarter earnings and revenue that surpassed expectations, leading to a premarket gain of approximately 7.5% initially and a subsequent rise of over 12%. Seagate provided an upbeat outlook for the fourth quarter, forecasting adjusted earnings per share between $2.20 and $2.60, above the consensus estimate of $2.10, and revenue guidance of $2.25 billion to $2.55 billion, exceeding the $2.29 billion estimate. The company also noted minimal tariff impacts, which helped bolster investor confidence amid mixed market conditions in the technology sector.

#SMCI #Stocktwits #Super Micro #Nasdaq 100 #Seagate Technology Holdings plc #STX #Seagate

Written with ChatGPT (GPT-4).

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Super Micro Shares Plunge 20% on Preliminary Q3 Miss; Seagate Tops Estimates with Strong Q4 Outlook

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