Super Micro shares soar more than 30% to record on uplifting preliminary results

Super Micro shares reached a new peak on Friday after the company posted stronger-than-expected revenue results in its preliminary earnings report. The company reported revenue of $3.6 billion to $3.65 billion for the December quarter, surpassing analysts’ expectations of $3.06 billion. Super Micro’s stock rose by nearly 250% in 2021. The company specializes in manufacturing computers and selling them as servers for various applications. The company’s sales are closely tied to Nvidia’s allocation of its graphics processing units, which are in high demand due to the AI boom. Super Micro’s full earnings report is scheduled to be released later this month.