Reported 20 days ago
Super Micro Computer Inc. saw its shares drop sharply after issuing a weak sales forecast for the upcoming quarter, projected revenues falling significantly short of analysts' expectations. The company also faces delisting risks following delays in filing its financial statements and the resignation of its auditor, Ernst & Young. Despite previously benefiting from an AI boom, concerns over accounting practices and governance have led to a 77% decline in its stock since March, resulting in a loss of approximately $50 billion in market value.
Source: YAHOO