Priced for perfect results, Super Micro Computer (SMCI) may trade 10% lower this morning. The firm reported revenue doubling Y/Y to $3.85 billion.
SMCI raised its Q4/2024 guidance, lifting both its net sales and EPS expectations. For FY 2024, it will post revenue of up to $15.1 billion. Its EPS will top up to $24.09 (non-GAAP).
In the renewed meme stock trade, Trump Media (DJT) added another 6.94% yesterday. Trump received a generous 36 million shares. This gives him $1.8 billion in bonus payments at a $49.93 closing price. Bears should not short DJT stock. The stock float is too low and the cost to borrow shares is too high.
Pinterest (PINS), like Snap (SNAP), soared by 17% after posting Q1 results. Average revenue per user increased by 10% in Q1. Revenue grew by 22.8% Y/Y to $739.98 million. The firm guided revenue growth of 18% to 20% Y/Y for Q2/2024.
In the fintech sector, wait for the violent selling pressure on SoFi Technologies (SOFI) stock to ease. Shares fell below $7.00 despite the firm posting a small profit. PayPal (PYPL) posted strong results but profit-taking mounted when shares traded above $70.00. The stock closed at $67.92.
