Ouch, SMCI! Super Micro Computer just got slammed in after-hours trading, with their stock plummeting below $30 after they dropped some seriously grim Q3 guidance. What happened? Well, things aren’t looking good for this tech giant.
After giving investors the cold shoulder with a major revenue cut, SMCI’s stock took a nosedive—down more than 18%. They’re now projecting revenue between $4.5 billion and $4.6 billion, way lower than the previous range of $5 billion to $6 billion. Talk about a shocker!
Even worse, Super Micro warned that their earnings per share would be way off—looking at just $0.29 to $0.31, instead of the originally predicted $0.46 to $0.62. That’s like getting a fancy birthday present, only to open it and find a half-eaten cookie.
What’s the reason? Apparently, customers are hitting the brakes on big decisions. Super Micro says sales are getting pushed into Q4, which means a delayed payday for them. Plus, they’ve had to jack up costs for new products, and who likes that? Not the investors.
The stock’s been on a wild ride, now down almost 70% from its high in February. So, yeah, SMCI is in a rough spot right now, and the future doesn’t look too bright.
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