Penguin Solutions Is Heating Up, But It's Still Down 30% From Its All-Time High. Here's What Investors Should Know Before It Reports Earnings in Early October.

Memory and AI data center stock Penguin Solutions (NASDAQ: PENG) has been on a tear in 2026, with a 188% year-to-date gain. It has also been in a bit of a slump, as it is down by more than 30% from the all-time high it set in early July. With that said, Penguin Solutions is scheduled to report its fiscal fourth-quarter results on Oct. 6, and a pre-earnings rally has taken shape. 

It's an important quarter that will verify if the momentum in its memory business has continued. Furthermore, this earnings report wraps up Penguin Solutions' fiscal 2026, so guidance for fiscal 2027 may be in the cards. Here's what else investors should know.

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