Super Micro Computer shares plunged Wednesday after the company lowered its full-year revenue outlook and projected a weaker-than-expected profit for the current quarter, according to Bloomberg. The company now expects at least $33 billion in revenue for the fiscal year ending June 2026, down from a previously bullish $40 billion forecast tied to demand for AI servers using Nvidia chips. Its first-quarter profit margin guidance of 5% also missed analyst expectations of 7%, according to Bloomberg Intelligence. The company now expects September-quarter revenue between $6 billion and $7 billion and earnings between 40 and 52 cents a share, well below analyst targets. CEO Charles Liang said demand for current products is down as customers wait for new Nvidia-based offerings, though he expects better chip availability going forward. Shares dropped 16% in premarket trading on Wednesday.
Be the first to comment