Asian chip stocks rally after Super Micro's strong forecast

Asian chip stocks rallied Wednesday after Super Micro Computer's preliminary revenue forecast beat expectations, easing investor concerns about AI infrastructure spending sustainability. South Korea's KOSPI jumped 4.6% to 5,805.63 points, while Japan's Nikkei 225 rose 1.7% to 65,162 points. Samsung Electronics gained 6.2% and SK Hynix 6.5%, with Japan's Kioxia up 4%, TDK 3.5%, and Murata Manufacturing 3.7%. Super Micro projected fiscal first-quarter 2027 revenue of $18.5-19.5 billion, well above its prior $14.5-15.5 billion guidance and analyst expectations of around $15 billion. The company also raised preliminary gross margin estimates to 12%-12.5% from 10.4%-10.8%, citing a favorable customer and product mix. Shares rose about 12% in after-hours trading Tuesday; results are unaudited, with full figures due November 3. The forecast signals sustained demand for AI computing systems, as Super Micro assembles servers using Nvidia and AMD processors. The rebound follows last week's tech selloff driven by rising bond yields and debt-financed data center expansion concerns, including worries about cloud provider CoreWeave. TSMC rose 0.8%, Hong Kong-listed Z.AI gained 4.7%, and mainland China's Foxconn Industrial Internet advanced 3.1%. Investors await further tech earnings to confirm demand translates into sustainable revenue and profitability.