LIVE NOW: SUPERMICRO & COREWEAVE EARNINGS REPORT
In a Nutshell
SMCI beat earnings expectations with a 139% EPS surprise despite a revenue miss, driving the stock up 10% in after-hours trading, while CoreWeave reported a double beat but still fell 5% due to its high valuation at 144x earnings. The broader market showed bearish patterns with the Nasdaq making lower highs and lower lows, despite remaining above key moving averages. Both stocks demonstrated extreme volatility typical of earnings reactions, with SMCI recovering from $23 lows to trade at $34 and CoreWeave showing 32% downside from recent highs.
These notes were generated by AI and may contain inaccuracies.
Ricky with TechBud Solutions hosts a live stream on August 11th covering Super Micro (SMCI) and CoreWeave earnings reports after the bell. SMCI is currently up 0.75% finding support around $31 per share. The stock is described as incredibly volatile with a notorious track record, having been one of the best performing stocks for 2024 before a quick correction. The company has faced investigations for fraud, accounting fraud, accounting regulations, and smuggling Nvidia GPU chips by executives. Despite these issues, the company trades at a very low P/E ratio.
CoreWeave shows a pattern of consolidation and is described as potentially overbought. The stock exhibits a consistent pattern of rallying and selling off repeatedly. The host notes they are not a fan of either company but finds them volatile enough to be worth watching for market reactions.
The Nasdaq had a relatively bearish day despite a rally into the close, showing a descending pattern with lower highs and lower lows. The market is described as incredibly overbought, testing previous resistance levels without selling off. The host notes that markets can stay irrational longer than traders can stay solvent, making shorting without confirmation risky.
SMCI is expected to report 71 cents EPS, lower than the previous quarter, with higher expected revenue. The host recommends Investing Pro software for fundamental analysis, mentioning a sale with the first link in the description. Historical market reactions show a pattern of two positive, two negative, nearly break-even, nearly break-even, then three negative reactions.
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