Super Micro Q1 Earnings Preview: What To Expect From Upcoming Report
Super Micro Computer 
SMCI is due to report first-quarter fiscal 2026 results after the close on Tuesday, and Wall Street is parsing a mixed picture after the company's weak preliminary revenue update.
The company earlier flagged a preliminary Q1 revenue figure near $5 billion, below prior guidance and the Street, though consensus models still point to about $5.83 billion (roughly a 2% year-over-year decline). Analysts expect EPS of about $0.38 for the quarter, a drop of roughly 49% from a year earlier.
Investors remain hopeful despite the miss. SMCI shares are up about 70% year-to-date, underpinned by strong demand for AI servers and a roughly $12 billion backlog of design wins slated for later delivery.
Recent analyst moves underline the split view: Rosenblatt raised its target to $60 and kept a Buy, while Mizuho kept a Hold with a $50 target. TipRanks' AI Analyst sits Neutral at $56.
Options traders are braced for volatility, the at-the-money straddle implies an expected post-earnings move near 12%.
What to watch on the call: updated revenue cadence, timing of the $12 billion backlog, gross margins as Nvidia (NVDA) and AMD (AMD) part volumes shift, and any read on customer shipment timing that could push revenue into the fiscal second quarter.
Is SMCI Stock a Buy?
Based on the one year price targets offered by 18 analysts, the average target price for Super Micro Computer Inc is $47.35 with a high estimate of $67.00 and a low estimate of $15.00. The average target implies a downside of -8.87% from the current price of $51.96.
Based on GuruFocus estimates, the estimated GF Value for Super Micro Computer Inc in one year is $86.60, suggesting a upside of +66.67% from the current price of $51.96. gf value is gurufocus' estimate of the fair value that the stock should be traded at. it is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. For deeper insights, visit the forecast page.