Quick Read

• Super Micro Computer (SMCI) reported Q3 revenue of $10.24B that missed consensus but non-GAAP EPS of $0.84 beat by 34.51%, with gross margin recovering to 9.9% GAAP from 6.3% the prior quarter and net income surging 344% YoY to $483M. CEO Charles Liang confirmed record backlog with AI GPU platforms representing over 80% of revenue and DCBBS profit margins often exceeding 20%.

• Super Micro’s margin rebound and improved business mix toward higher-margin data center platforms validate a faster recovery than the stock’s 26.6% annual decline suggests, supporting the thesis that the recent washout is overdone.

• The analyst who called NVIDIA in 2010 just named his top 10 stocks and Super Micro Computer wasn’t one of…