Investing
Super Micro Computer tumbles after cutting Q3 revenue forecast
© 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.”
Read the full article here
Closing Your Business? Do It Before the New Year to Save Money
Why Irate Artists Leaked OpenAI’s AI Video Generator Sora
Friends’ ‘Scrappy’ Side Hustle Led to a $1 Million Product
Unlock Lasting Business Success by Instilling These 5 Family Values
BlackRock, Vanguard, State Street sued by Republican states over climate push By Reuters
This All-Access Pass to Learning Is Now $20 for Black Friday
How to Create a Routine That Balances Rest and Business Success
Apple Prepares a New AI-Powered Siri to Compete With ChatGPT
A Macy’s Employee Made Accounting Errors Worth $132 Million
MIT Gives Free Tuition For Families Earning $200,000 or Less
Debt ceiling debate and its effect on the U.S. dollar
Debt ceiling default: Still no deal between parties
Stovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fall
What China's weaker-than-expected economy could mean for U.S. markets
A ‘Big Short’ investor sees financial disaster brewing in housing markets — again
-
Investing4 days agoThis All-Access Pass to Learning Is Now $20 for Black Friday
-
Passive Income4 days agoHow to Create a Routine That Balances Rest and Business Success
-
Side Hustles5 days agoApple Prepares a New AI-Powered Siri to Compete With ChatGPT
-
Side Hustles2 days agoA Macy’s Employee Made Accounting Errors Worth $132 Million
-
Side Hustles6 days agoMIT Gives Free Tuition For Families Earning $200,000 or Less
-
Passive Income5 days agoCustomers Want More Than Just a Product — Here’s How to Keep Up
-
Side Hustles4 days agoGift the Power of Language Learning with This Limited-Time Price on Babbel
-
Investing1 day agoFactbox-How Trump can overhaul US financial regulators when he takes office By Reuters