U.S. stocks surge: Penguin Solutions jumps on October 2 due to AI order growth, earnings expectations, and memory business

Penguin Solutions October 2 Major Surge Interpretation

Keywords: AI order growth, earnings expectations, memory business

1. On October 1, as the company entered the fourth quarter of fiscal year 2026, its AI business backlog orders grew, with customer demand increasing faster than recognized sales; third-quarter integrated memory revenue grew by 111% year-on-year to $275 million, with new orders for CXL memory expansion cards, AI infrastructure customers continued to increase, and the company raised its guidance for fiscal year 2026 net sales growth to 22%±2%.

2. On September 15, the company announced it would release its fiscal year 2026 fourth-quarter and full-year results on October 6. The market expects fourth-quarter fiscal year 2026 revenue of $519 million and earnings per share of $0.45.

3. On May 29, the company stated that integrated memory and non-hyperscale AI infrastructure accounted for 74% of net sales in the third quarter, an increase of 104% year-on-year; the company expects integrated memory sales to grow by 90%-95% in fiscal year 2026 and preliminarily expects total sales to grow by about 30% in fiscal year 2027.

(Disclaimer: This content is generated by AI technology based on publicly available information for reference only and does not constitute investment advice.)