Why Wall Street Isn’t Buying Super Micro’s $60 Billion Backlog Quite Yet

Super Micro Computer concluded fiscal 2026 with notable operational achievements, including a record backlog exceeding $60 billion in new orders received during the fourth quarter. The company’s fiscal 2026 revenue reached $39.1 billion, reflecting 78% year-over-year growth. Fourth-quarter results were particularly strong, with revenue climbing to $11.1 billion, up 93% compared to the prior year and 9% sequentially. Management issued guidance for the first quarter of fiscal 2027 projectin