Stock Market News

Super Micro Computer tumbles after cutting Q3 revenue forecast

2023.04.24 09:43


© Reuters. Super Micro Computer (SMCI) tumbles after cutting Q3 revenue forecast

Super Micro Computer (NASDAQ:) shares plunged premarket Monday after the company slashed its third-quarter revenue guidance due to new component shortages.

The IT company now expects revenue for the third quarter ended March 31, to come in at $1.28 billion, down from the previously forecast $1.47 billion.

It explained that the shortfall is “primarily due to key new component shortages for Supermicro’s transition to new generation product lines,” although it added the shortages have now mostly been resolved. The supply chain challenges impacted the company’s orders.

SMCI shares are currently down more than 12% premarket at around $94 per share. The stock has gained over 29% in 2023.

“Supermicro saw record levels of engagements in our new product lines during the quarter,” stated Charles Liang, President and CEO of Supermicro. “We secured several large design wins whose orders were impacted by these new supply chain challenges. The challenges are improving as we speak, and we are now well positioned to fulfill delayed deliveries and have commenced production.”

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 84,377.61 0.00%
ethereum
Ethereum (ETH) $ 1,976.08 0.07%
tether
Tether (USDT) $ 0.999881 0.01%
xrp
XRP (XRP) $ 2.40 1.51%
bnb
BNB (BNB) $ 635.60 0.72%
solana
Solana (SOL) $ 129.32 1.30%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.712594 0.82%
dogecoin
Dogecoin (DOGE) $ 0.169117 0.00%
tron
TRON (TRX) $ 0.234381 0.60%
staked-ether
Lido Staked Ether (STETH) $ 1,975.38 0.09%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 84,303.59 0.08%
leo-token
LEO Token (LEO) $ 9.77 0.21%
chainlink
Chainlink (LINK) $ 14.10 0.68%
the-open-network
Toncoin (TON) $ 3.60 2.43%
stellar
Stellar (XLM) $ 0.279224 0.97%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,367.89 0.03%
usds
USDS (USDS) $ 1.00 0.05%
avalanche-2
Avalanche (AVAX) $ 19.28 2.98%
hedera-hashgraph
Hedera (HBAR) $ 0.1865 1.87%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 1.56%
sui
Sui (SUI) $ 2.28 3.58%
litecoin
Litecoin (LTC) $ 92.26 0.82%
polkadot
Polkadot (DOT) $ 4.55 4.40%
pi-network
Pi Network (PI) $ 0.997732 8.18%
bitcoin-cash
Bitcoin Cash (BCH) $ 328.05 1.95%
mantra-dao
MANTRA (OM) $ 6.28 5.46%
weth
WETH (WETH) $ 1,976.63 0.01%
bitget-token
Bitget Token (BGB) $ 4.66 0.86%
ethena-usde
Ethena USDe (USDE) $ 0.999257 0.08%
hyperliquid
Hyperliquid (HYPE) $ 15.54 8.48%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.05%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,101.60 0.03%
whitebit
WhiteBIT Coin (WBT) $ 28.56 0.02%
uniswap
Uniswap (UNI) $ 6.79 1.30%
monero
Monero (XMR) $ 213.87 1.92%
aptos
Aptos (APT) $ 5.67 0.96%
susds
sUSDS (SUSDS) $ 1.04 0.06%
near
NEAR Protocol (NEAR) $ 2.75 0.40%
ethena-staked-usde
Ethena Staked USDe (SUSDE) $ 1.16 0.04%
dai
Dai (DAI) $ 0.999723 0.02%
okb
OKB (OKB) $ 52.38 1.52%
pepe
Pepe (PEPE) $ 0.000007 3.62%
gatechain-token
Gate (GT) $ 22.83 0.49%
internet-computer
Internet Computer (ICP) $ 5.72 0.26%
aave
Aave (AAVE) $ 179.41 1.56%
ethereum-classic
Ethereum Classic (ETC) $ 17.74 0.50%
ondo-finance
Ondo (ONDO) $ 0.833545 1.58%
tokenize-xchange
Tokenize Xchange (TKX) $ 32.97 2.78%
mantle
Mantle (MNT) $ 0.782405 0.49%