11:22 AM EST, 02/10/2025 (MT Newswires) -- Super Micro Computer ( SMCI ) faces "substantial unknowns" heading into its latest quarterly results, including its ability to meet sales expectations, Wedbush Securities said Monday.

The company is scheduled to report fiscal Q2 results Tuesday. Wedbush expects non-GAAP earnings of $0.61 per share on revenue of $5.80 billion. Wall Street is looking for $0.64 and $5.89 billion, respectively, according to Wedbush.

"While SMCI's guide implied slower growth in sales than had previously been anticipated, we also believe that certain large tier 2 cloud projects were delayed in late 2024 given a slower roll-out of GB200 and NVL-72 systems," Wedbush analysts Matt Bryson and Antoine Legault said in a note.

"We believe it is likely delays could continue to weigh on FQ3/CQ1 results given our conversations suggesting softer demand for certain components tied to AI system installations."

For fiscal Q3, Wedbush projects non-GAAP EPS at $0.72 on revenue of $6.06 billion.

"Given our lack of certainty around SCMI's listing status as well as near-term results, and with our more optimistic view around longer term sales opportunities offset by our concerns around increased competition, we believe it is appropriate we retain our neutral rating," Wedbush said.

The company's shares were up over 6% in recent trading.

Price: 38.76, Change: +2.48, Percent Change: +6.83