SMCI earning call

as expected, analysts are all primarily focused on its growth margin, especially that they are guiding revenue significantly higher but margin improvement is moderate. Charles (his English very hard to follow) seems to suggest that 70-80 of their revenue now come from their liquid cooling product line and hence the margin improvement will come over time (as they need to invest in the infrastructure today )

SMCi will need to show actual margin improvement before its share sees meaningful growth.

undiplomatically, Charles soft confirmed nVidia Blackwell delay, saying Q4 they expect mostly samples and very small volumes but do expect mass shipment in Q1’25. I don’t think Jensen would appreciate his honesty here, lol.

所有跟帖： 

• NVDA immediate went down 2 points when Charles mentioned that, l -三心三意- ♂ (0 bytes) () 08/06/2024 postreply 14:48:00

• saying Q1 margin is 12%, but did not give specific target for FY -三心三意- ♂ (0 bytes) () 08/06/2024 postreply 14:51:00

• Great summary! -未知就是風險- ♂ (0 bytes) () 08/06/2024 postreply 14:53:49

• 謝謝，看來是用低價占領市場的策略 -pisces-hk- ♀ (98 bytes) () 08/06/2024 postreply 16:38:39

• Smci 股價會不會重複去年的pattern？ -pisces-hk- ♀ (376 bytes) () 08/06/2024 postreply 16:45:20

• 不知道。他們必須盡快提高margin. 否則嬴利跟不上。賣的多但賺的少 -三心三意- ♂ (0 bytes) () 08/06/2024 postreply 18:29:00