Stocks & Investing
Stocks and Investing
Stocks and Investing
Tue, December 17, 2024
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[ Tue, Dec 17th 2024
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[ Tue, Dec 17th 2024
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Super Micro Stock Tumbles. These 2 Things Are Sinking the Server Maker's Shares.
- The company has hired investment bank Evercore and is considering selling more shares as well as bonds, it was reported Friday.
Super Micro Computer Inc.'s stock experienced a significant decline, dropping by 23% in a single trading session, which was the largest drop since the company went public in 2007. This sharp fall came after the company provided a revenue forecast for the current quarter that was well below Wall Street expectations. Super Micro projected revenues between $1.42 billion and $1.52 billion, significantly lower than the $2.07 billion that analysts had anticipated. The company attributed this lower forecast to a "slight pause" in demand from some customers, particularly in the U.S., as they awaited new server models. Despite this, Super Micro remains optimistic about its long-term growth, driven by the increasing demand for AI and high-performance computing solutions. The stock's decline also reflects broader market concerns about the sustainability of the AI-driven tech rally.
Read the Full Yahoo Article at:
[ https://www.yahoo.com/news/m/c3b16e5e-ccb7-30fb-9e44-1117c1b2c4cc/super-micro-stock-tumbles-.html ]
Read the Full Yahoo Article at:
[ https://www.yahoo.com/news/m/c3b16e5e-ccb7-30fb-9e44-1117c1b2c4cc/super-micro-stock-tumbles-.html ]
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