SJM - Why Is Super Micro Computer (SMCI) Stock Down 18% Today?
2024-04-19 12:11:17 ET
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Super Micro Computer (NASDAQ: SMCI ) stock is taking a beating on Friday after the company announced the release date for its upcoming earnings report.
A press release from Super Micro Computer released today reveals that it will publish its fiscal Q3 2024 earnings report after markets close on April 30. While there’s nothing bad about this news it’s what’s missing that has investors worried.
Super Micro Computer typically released preliminary earnings ahead of its earnings report. The fact that it didn’t do so with today’s earnings date announcement has raised concerns among traders .
This has some investors in SMCI stock anxious that it doesn’t want to share results. They are taking this as a sign that Super Micro Computer may not have performed as well during the quarter as Wall Street was expecting.
What to Expect from SMCI Stock
No matter the case, the earnings report will be a big catalyst for SMCI stock. Whether it’s good or bad will depend on if the company can impress investors with its quarterly results.
Analysts are expecting Super Micro Computer to report earnings per share of $5.84 alongside revenue of $4.01 billion for the quarter. Traders will want to keep these numbers in mind when April 30 rolls around.
SMCI stock is down 17.8% as of Friday afternoon with some 9 million shares traded. That’s closing in on its daily average trading volume of about 10.8 million shares.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
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