SMCI guided for $65 billion to $72 billion in fiscal 2027 revenue, dwarfing the Street's $53 billion consensus by a margin that sent shares surging after hours. The server maker issued fiscal 2027 revenue guidance of $65B to $72B, a range that makes the analyst consensus of roughly $52.5B to $53.3B look quaint. For the first quarter of fiscal 2027, management guided for sales of $14.5B to $15.5B. That backlog alone is larger than what analysts expected SMCI to generate in total revenue for fiscal 2027. But the fiscal 2027 guidance suggests the underlying business has continued to accelerate even while the stock was under pressure.