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Super Micro Shares Fall After Forecasting Q4 Revenue Below Estimates Amid Tariff, Spending Concerns

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Super Micro Computer (SMCI.O), a leading AI server manufacturer, projected fourth-quarter revenue below Wall Street expectations, causing its shares to drop 5.4% in after-hours trading on Tuesday. The company cited economic uncertainty, tariffs, and delayed customer spending as near-term headwinds.

The San Jose-based firm forecast Q4 revenue between $5.6 billion and $6.4 billion, falling short of analysts’ average estimate of $6.82 billion, according to LSEG data. The company has benefited from surging demand for AI data center infrastructure, leveraging chips from Nvidia, AMD, and others, but has also faced accounting issues in recent months that sparked delisting concerns on the Nasdaq.

Despite some clients delaying purchases, Super Micro expects those deferred deals to materialize in the June–September quarter. However, investor sentiment remains cautious, particularly in light of growing concerns about AI investment slowdowns and tariff-related impacts.

Kim Caughey Forrest of Bokeh Capital Partners suggested the lowered guidance might be self-inflicted, rather than purely market-driven, while D.A. Davidson’s Gil Luria noted the possibility that Super Micro may be losing market share to competitors like Dell, rather than signaling a broader downturn in AI infrastructure demand.

For fiscal year 2025, Super Micro revised its revenue forecast downward to $21.8 billion to $22.6 billion, from a previously expected $23.5 billion to $25.0 billion.

The company had released preliminary results last week, but the lower guidance and uncertain macroeconomic environment continue to weigh on investor confidence.

Intuitive Machines’ Stock Drops After Second Sideways Moon Landing

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Intuitive Machines’ stock took a sharp 23% dive on Friday after confirming that its second moon lander, Athena, had landed on its side, much like the company’s first lunar attempt last year. The six-legged Athena lander had touched down approximately 100 miles (160 km) from the moon’s south pole, but the mission was declared a failure due to the spacecraft’s tilted position. The company cited the challenges of the lander’s orientation, the impact of the sun’s direction on the solar panels, and the extremely cold temperatures in the crater, which prevented the craft from recharging.

As a result, Intuitive Machines’ stock experienced its most significant drop in over a year. Shares had already fallen 20% the previous day, but the company had seen a considerable rise in value over the past 12 months prior to this setback.

Athena was carrying 11 scientific payloads, including tools for water ice exploration, lunar soil analysis, and the first data center and cellular network on the moon. Despite the failure, the company remains involved in NASA’s plans to reduce the cost of lunar exploration, with Intuitive Machines among the private companies leading the U.S. return to the moon.

Meanwhile, SpaceX’s Starship rocket also faced a setback, exploding minutes after its launch on Thursday. Despite these challenges, industry analysts believe that Intuitive Machines, though impacted by the recent failure, is still well-positioned to capitalize on the growing space exploration industry.

Andres Sheppard, senior analyst at Cantor Fitzgerald, remarked that while the sideways landing might affect the company’s credibility, it doesn’t signal a dire situation for Intuitive Machines. “We still think they are one of the better-positioned companies in the space exploration industry.”

Marvell Technology Forecasts In-Line Q1 Revenue, Shares Drop 15%

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Marvell Technology (MRVL.O) predicted first-quarter revenue in line with Wall Street’s expectations, but its shares fell sharply by 15% in after-hours trading. Investors were underwhelmed by the forecast, as they had hoped for more substantial growth driven by the surging demand for artificial intelligence (AI) chips.

The AI chip market has seen booming demand, particularly for sector-leader Nvidia’s (NVDA.O) AI processors. Major tech companies like Microsoft (MSFT.O), Meta Platforms (META.O), and Amazon.com (AMZN.O) have been working to reduce their reliance on Nvidia by developing their own AI chips, a trend that has benefited companies like Marvell and Broadcom (AVGO.O).

“The earnings print was generally OK, but I believe investors were expecting more given all the bullish data points in the overall AI space and the ramp of custom ASICs (AI chips) with certain hyperscalers,” said Tore Svanberg, an analyst at Stifel Nicolaus and Co.

Marvell’s data center segment performed well, with revenue up 78% year-over-year to $1.37 billion in the fourth quarter, driven by increased demand for custom AI chips as businesses work to optimize their AI workloads. In December, the company also signed a five-year chip deal with Amazon that includes custom AI chips.

“We’re engaged, we expect revenue to grow, but obviously, it’s like anything, you’ve got to show you can do it, and you’ve got to show it consistently,” Marvell COO Chris Koopmans said, emphasizing the “sticky” nature of the Amazon deal.

Marvell has pledged to focus its investments on data centers, seeing them as the best way to capitalize on the AI boom. Data center revenues accounted for 75% of its total revenue in the most recent quarter. However, Koopmans added that Marvell had not yet experienced any impact from tariffs affecting its data center business.

Despite posting solid results, Marvell’s shares dropped to $77.65 in after-hours trading, following a year-to-date increase of over 83%. In contrast, its larger competitor Broadcom saw a stock jump of around 107%. Analysts pointed to concerns over geopolitical pressures, AI monetization, and the magnitude of Marvell’s earnings beat as factors contributing to the decline.

Marvell forecast first-quarter revenue of $1.88 billion, slightly above analysts’ expectations of $1.87 billion.