Super Micro Computer (SMCI) CEO Says That “We Are Asking NVIDIA Every Day” For Blackwell Chips, Stock Tanks On Muted Guidance And Renewed Delisting Fears

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Super Micro Computer (SMCI), a retailer of high-performance servers and liquid-cooled AI racks, has chosen to release its latest quarterly earnings at a time when investors have been forced to view every financial update from the company with a hefty dose of skepticism that stems not only from Hindenburg Research’s hard-hitting report back in August but also from the series of events in its aftermath, including SMCI’s withholding of its annual report, the launch of a preliminary DOJ investigation into the company’s purported accounting malpractices, the exodus of its second auditor in around 18 months, and an imminent de-listing from the Nasdaq exchange.

To make matters worse, Super Micro Computer failed to reassure investors via the contents of its preliminary earnings release and the ensuing earnings call.

$SMCI | Super Micro Computer Q1’25 Preliminary Earnings Highlights:

🔹 Net Sales: $5.9B-$6.0B (Prior: $6.0B-$7.0B) 🔴
🔹 Non-GAAP EPS: $0.75 to $0.76 (Prior: $0.67 to $0.83) 😕
🔹 GAAP Gross Margin: ~13.3%

Q2’25 Guidance:
🔹 Net Sales: $5.5B to $6.1B (Est. $6.79B) 🔴
🔹 GAAP…

— Wall St Engine (@wallstengine) November 5, 2024

To wit, Super Micro Computer has now reported that it likely earned a quarterly revenue of between $5.9 billion and $6 billion in its fiscal Q1’25, as per the preliminary tabulation. Moreover, its GAAP gross margin for the quarter will likely be…