Super Micro Computer (NASDAQ:SMCI) is back in the spotlight as investors brace for a major earnings announcement today. The stock has been all over the placesurging 17% yesterday before dipping 7.5% at 12.30pm today. But while Wall Street expects Q2 revenue of $5.77 billion and an EPS of 61 cents, the real story is Super Micro’s overdue SEC filings. The company has until February 25 to submit its Form 10-K and 10-Q or risk getting booted from the Nasdaq. That uncertainty is keeping investors on edge, with many waiting to see if management can finally put these concerns to rest.
Super Micro’s problems started mid-2024 when Hindenburg Research flagged glaring accounting red flags, triggering regulatory scrutiny. Then came the real hitauditor Ernst & Young resigned in October, refusing to sign off on the company’s financials. The stock collapsed, falling from over $120 to below $18 by November last year. A special committee later said it found no evidence of misconduct, helping shares recover nearly 30% year-to-date. But the market remains cautious, knowing that one wrong moveespecially on the filing frontcould send shares spiraling again.
Today’s earnings call is make-or-break. If Super Micro delivers solid numbers and reassures investors about its Nasdaq listing, the stock could keep climbing. But if there’s any sign of further delays or uncertainty, expect another wild ride. Investors will be watching closely for clear answersand not just about Q2 results, but about whether the company can finally put its regulatory troubles behind it.
This article first appeared on GuruFocus.
