Super Micro Computer (SMCI) is set to report its fiscal third-quarter results today, May 5, after the market closes. Shares have fallen over 42% in six months after U.S. charges tied to diverted Nvidia (NVDA) chips to China, but have rebounded over 20% in the past month. Looking ahead, investors are watching both its sales outlook and a growing list of legal risks, including employee indictments and shareholder lawsuits.
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Trade NVDA with leverageFor context, SMCI provides high-performance servers and data center solutions, benefiting from strong demand in AI and cloud computing.
What to Expect from Super Micro’s Q3 Results
Wall Street expects Q3 FY26 earnings of $0.62 per share, up from $0.31 a year ago. Meanwhile, revenue is seen jumping roughly 170% year-over-year to about $12.39 billion.
In the previous quarter, SMCI delivered a strong revenue growth of 123% year-over-year, driven by high demand for AI servers and GPU systems. However, margins came under pressure, with gross margin falling to 6.4% due to higher costs and product mix changes. As s results, investors will focus on whether margins start to stabilize and improve in this quarter.
At the same time, investors will closely watch the company’s partnership with Nvidia and the rollout of Blackwell systems, which are expected to drive future growth. Key focus areas include how quickly Blackwell is being deployed, its availability, and its contribution to revenue.
Options Traders Price In a 13.54% Move
According to TipRanks’ Options Tool, options traders expect a 13.54% move in either direction in SMCI stock in reaction to Q3 FY26 earnings. This implied move is slightly higher than Super Micro’s average post-earnings move (in absolute terms) of 11.2% over the past four quarters.
Analysts’ Views on SMCI Stock
Wall Street remains cautious on SMCI ahead of its earnings. Citigroup’s five-star-rated analyst Asiya Merchant raised her price target to $28.81 from $25 but maintained a Hold rating.
Similarly, JPMorgan Chase analyst Samik Chatterjee cut his price target to $28 from $40 while keeping a Hold rating. The adjustment came as part of his Q1 outlook for the hardware and networking sector, where he expects AI-driven spending on servers and networking equipment to support near-term demand.
Is SMCI a Good Stock to Buy in 2026?
According to TipRanks’ consensus, SMCI stock has a Hold rating, based on three Buys, eight Holds, and two Sells assigned in the last three months. The Super Micro’s share price target of $30.53 implies an upside of 9.36% over current trading levels.
