Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
So what: Non-GAAP EPS of $0.48 grew 50% year-over-year and met the consensus estimate. GAAP EPS grew 53% year-over-year to $0.29.
Now what: The company's new products for desktops and storage appear to be doing well. Management expects sales for the current quarter of $860 million to $880 million, compared with the consensus forecast of $847 million. Several analysts raised their price target on the stock, suggesting they believe the impressive growth is sustainable.
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