On October 23, 2025, Super Micro Computer, Inc. (SMCI) provided a business update that presented a mixed outlook to the market. The company announced "strong demand for Blackwell Ultra" and disclosed receiving over $12 billion in new design wins, with deliveries expected in the second quarter of fiscal year 2026 (Q2'26). This indicated robust future growth driven by AI liquid-cooled solutions and multi-quarter volume deployments.1
However, the same update also included a revision of its first-quarter fiscal year 2026 (Q1'26) revenue guidance. SMCI estimated Q1'26 revenue at $5 billion, a decrease from its previous guidance of $6-$7 billion. The company attributed this adjustment to "design win upgrades [that] pushed some expected Q1'26 revenue to Q2'26."1
While the announcement highlighted significant long-term demand and strategic wins, the near-term revenue miss could have led to a nuanced market reaction. Unfortunately, specific daily stock price data for SMCI on October 23, 2025, and the immediate subsequent trading days is not readily available through the provided Fintel resources to definitively quantify the market's immediate reaction. General Fintel data shows various metrics such as institutional ownership and analyst price targets, but not the precise intraday or daily closing prices for that specific period.
Subsequently, SMCI's Q1'26 earnings report on November 4, 2025, confirmed net sales of $5.0 billion, aligning with the revised guidance. This report further reinforced the strong future demand, noting over $13 billion in Blackwell Ultra orders and projecting at least $36 billion in revenue for fiscal year 2026.
