Super Micro Computer Stock Plunged 37.6% in August: Here's Why

Shares of Super Micro Computer (NASDAQ: SMCI) fell 37.6% in August, according to data from S&P Global Market Intelligence. The server systems builder took two heavy hits last month, and shares are now trading 64% below the peak they reached in March.First, Supermicro reported its fiscal 2024 fourth-quarter results on Aug. 6. Earnings came up far short of both Wall Street's consensus estimates and management's guidance as Supermicro's cost of sales grew faster than revenues. Soaring operating expenses also weighed on its net profits. Furthermore, earnings guidance for the next quarter came in below the average analyst's projections.Management also announced plans for a 10-for-1 stock split that day, but investors focused on the soft bottom-line result. The stock closed 20.1% lower the next day.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool