Super Micro’s stock is surging following a robust revenue outlook for next fiscal year. But analysts worry about stiffer competition in the market, among other issues.

The AI server maker said adjusted earnings for its fiscal second quarter was 58 cents to 60 cents a share, compared with the FactSet consensus for 61 cents.

Supermicro has taken steps to put everything back on track, though, and this week, as it reported its latest unaudited financial figures, even said the growth trajectory for this fiscal year "remains promising." Is Supermicro stock finally out of the woods? Let's find out.