Server manufacturer Super Micro Computer (SMCI, Financial) anticipates submitting its annual and quarterly reports to the U.S. Securities and Exchange Commission this month. The stock dropped nearly 9.5% but rebounded by 8.1% in after-hours trading. SMCI is cooperating with authorities following accounting concerns raised by short-seller Hindenburg Research, leading to summonses from both the U.S. Department of Justice and the SEC.
The company revised its annual revenue forecast downward, citing delays in Nvidia's (NVDA) Blackwell chip deliveries, despite previous readiness for full-scale production. SMCI now forecasts fiscal 2025 net sales between $23.5 billion to $25 billion, down from a prior range of $26 billion to $30 billion. The median forecast of $24.25 billion falls short of the market expectation of $24.92 billion. Additionally, SMCI expects third-quarter net sales to be between $5 billion and $6 billion, also below the market's $6.09 billion expectation.
