Super Micro Shares Plunge as Revenue Forecast Cut Sparks AI Spending Concerns
Super Micro Computer shares dropped 15% in premarket trading on Wednesday after the server manufacturer sharply reduced its revenue forecast, raising fresh concerns about AI infrastructure spending and investor confidence. The revised outlook follows delays in customer purchases, which the company attributed to shifting timelines rather than broader industry weakness.
The announcement has intensified fears that major tech firms might be scaling back on AI infrastructure investments amid economic uncertainty and unclear short-term returns. Although companies like Microsoft and Amazon have reiterated strong AI spending commitments, analysts note that both have recently slowed their data center expansions.
Despite the drop in Super Micro’s stock, analysts from J.P. Morgan and Rosenblatt Securities believe the forecast cut reflects isolated, customer-specific issues rather than an industry-wide slowdown. They emphasized the adjustment was related to the timing of platform purchases and not supply constraints.
Other AI-related stocks saw limited impact: Nvidia dipped 1.5%, AMD fell 0.7%, while Dell and Hewlett Packard Enterprise declined 2.8% and 0.7%, respectively.
The revision may increase scrutiny of Super Micro's projections—particularly after it recently forecast $40 billion in sales for its next fiscal year, nearly double current analyst expectations. The company, once a major beneficiary of the generative AI surge with its stock tripling in 2023, has faced setbacks including delayed financial reports, an auditor loss, and short-seller allegations from the now-defunct Hindenburg Research. In contrast, its stock rose just 7.2% last year, underperforming the S&P 500.
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