Xerox and Super Micro shares surge on AI hardware demand signals, with Xerox up 9.6% and Super Micro up 5.8%

Micron Technology jumped 17.16% after a UBS price target hike signaled AI hardware demand is structurally undersupplied. Hardware companies including Xerox (up 9.6%) and Super Micro (up 5.8%) also rose, as server, networking, and cooling orders follow memory and GPU demand acceleration.

Xerox reported first-quarter sales of $1.85 billion, a 27% increase from the previous year and surpassing the analyst consensus estimate of $1.747 billion. The gain came after the company's recent acquisition of Lexmark. CEO Louie Pastor stated the results showed 'tangible progress' and reaffirmed 2026 guidance.

Short interest in Xerox stock, reported to be over 28% of available shares, likely contributed to the sharp price increase as investors who had bet against the stock were forced to buy shares to cover their positions. Despite being up 30.3% since the beginning of the year, Xerox trades at $3.21 per share, still 51.8% below its 52-week high of $6.65 from July 2025.