Overview
- FQ1 2026 revenue declined 15% with margin pressure in a double-miss quarter, according to the latest reported results.
- Management guided to up to $11 billion in next-quarter revenue and at least $36 billion for fiscal 2026.
- Roughly $1.5 billion of shipments were pushed from Q1 into the current quarter, a timing shift management cited for the shortfall.
- The stock trades about 57% below its March 2024 peak to roughly $51 as of Nov. 10, 2025, resulting in a discounted valuation versus peers like Nvidia and TSMC.
- The company is expanding global manufacturing to scale AI servers and liquid-cooling systems, with profitability and margin trends under close watch.