Key Takeaways
\nSuper Micro Computer shares tumbled Thursday after the server maker cut its fiscal first-quarter revenue forecast, citing project delays that shifted sales.The company maintained its full-year revenue outlook.<\/p>\n
It’s been a tough day for Super Micro Computer’s stock.\n<\/p>\n
The shares were down nearly 9% in recent trading, making it one of the biggest decliners in the S&P 500 amid broader market gains<\/a>, after the artificial intelligence<\/a> server maker lowered its revenue forecast less than two weeks before it’s due to report its latest quarterly results.\n<\/p>\n Supermicro (SMCI<\/a>) said in a business update Thursday that it’s had some recent \u201cdesign wins,\u201d but that they’ve pushed some of its previously anticipated revenue for the fiscal first quarter into the second quarter.\n<\/p>\n The San Jose, Calif.-based company said it now expects first-quarter revenue of $5 billion, down from its earlier guidance range of $6 billion to $7 billion, and below what analysts surveyed by Visible Alpha were expecting.\n<\/p>\n Why This News Is Significant<\/p>\n Supermicro, which counts AI chip leaders like Nvidia and Advanced Micro Devices among its partners, has seen its stock soar this year on anticipation it could be a prime beneficiary of the AI boom. However, elevated investor expectations could mean more volatility for the stock if the company fails to meet projections.<\/p>\n Still, the Nvidia partner (NVDA<\/a>)\u2014which touts itself as a “Total IT Solution Provider for AI, Cloud, Storage, and 5G\/Edge”\u2014maintained its full-year revenue outlook of at least $33 billion.\n<\/p>\n