Just as you thought it couldn’t get worse:
Super Micro Computer, $SMCI, just FAILED to provide a timetable on when their annual results will be posted.
Their stock is down another -18% after hours and over -80% from its recent all time high.
Just yesterday, it was reported that Super Micro Computer has until November 16th to file their annual report or they risk being delisted from the Nasdaq.
On top of this, the company said they would not discuss any questions related to their auditor, EY, resigning last week.
Keep in mind, this is Nvidia’s, $NVDA, THIRD largest customer.
What is happening at $SMCI?
Just as you thought it couldn't get worse:
Super Micro Computer, $SMCI, just FAILED to provide a timetable on when their annual results will be posted.
Their stock is down another -18% after hours and over -80% from its recent all time high.
Just yesterday, it was reported… pic.twitter.com/Og2iSryVWX
— The Kobeissi Letter (@KobeissiLetter) November 5, 2024
Super Micro Computer's investor call didn't go over well and stock is down significantly after hours
Company executives wouldn't discuss EY resigning as $SMCI's auditor after questioning the company's integrity and ethical values,
couldn't say when it would file its audited… pic.twitter.com/rGeAnz022x— kristen shaughnessy (@kshaughnessy2) November 5, 2024
BREAKING🚨Corruption, the billionaires and market makers always know.
Last Week: Ken Griffin sold 79% of Citadel’s Stake in Nvidia $NVDA
This Week: Nvidia, $NVDA, ask the US Supreme Court to spare them from securities fraud suits pic.twitter.com/TTnLXRw1Tn
— Meta News🚨 (@xMarketNews) November 5, 2024
Super Micro Computer, Nvidia’s third-largest customer, accounts for approximately 9% of Nvidia’s total revenue. A significant portion of Super Micro Computer’s cost of goods sold, about 70%, is tied to Nvidia products. The partnership between the two companies is crucial, with Super Micro incorporating Nvidia’s GPUs into their server systems for data centers, cementing the importance of this business relationship.
Sources:
- Bloomberg: Super Micro Computer is Nvidia’s third-largest customer
- Morningstar: Supermicro’s strong relationships with chip makers like Nvidia
- The Motley Fool: Super Micro Computer and Nvidia’s relationship