By Brian Swint

Super Micro Computer, the server maker that had to delay last year's earnings because of issues with its accounting, was falling early Tuesday ahead of its earnings report.

SMCI stock lost 1.2% to $31.77 in premarket trading. That follows a big drop on April 30, when the company said that Wall Street expectations for the most recent quarter were too high. It gave a new range for the earnings that will be officially reported today.

Before delaying results and replacing its auditor last year, Super Micro was a darling of the artificial intelligence trade. Its servers often house Nvidia chips, and cloud computing is key to the outlook for technology's biggest companies such as Microsoft, Amazon, Apple, and Meta Platforms.

Super Micro said last week that revenue for the March quarter between $4.5 billion and $4.6 billion and adjusted earnings between 29 and 31 cents a share. Before that, analysts had expected $5.4 billion in revenue and adjusted EPS of 53 cents.

Coming into Tuesday's session, SMCI has lost 61% over the past 12 months. Wall Street analysts in a FactSet survey are broadly split on the stock's prospects--four give it a Buy rating, five give it a Hold, and one says Sell.

Write to Brian Swint at brian.swint@barrons.com

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May 06, 2025 07:13 ET (11:13 GMT)

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