SMCI · Super Micro Computer
Super Micro Computer: a guidance raise, then an auditor's resignation
2023 · +246% in the calendar year
For scale: buying every US stock breakout from 2018 to 2026 with no selection returned a median −22.6% a year later, measured on the 14,674 with a full twelve months of data. How it was measured
Super Micro Computer builds servers around other companies' chips. On 8 August 2023 it reported net sales of $7.12B for the fiscal year to June 2023, up 37%, and guided to $9.5–10.5B for fiscal 2024. The stock finished at +246% in calendar 2023. On 18 January 2024 it pre-announced December-quarter revenue of $3.6–3.65B, against earlier guidance of $2.7–2.9B, and the next day the shares rose more than 30% to a record high. Wedbush described its sales as “mostly dependent” on Nvidia's GPU allocation.
The shares reached a closing high of $118.81, split-adjusted, in March 2024. In August 2024 the company delayed its annual report, and in October 2024 Ernst & Young resigned as its auditor. The 2024 closing low, on the same basis, was $18.01. On 25 February 2025 Super Micro filed the delayed reports with no restatements, but BDO, its new auditor, gave an adverse opinion on its internal control over financial reporting.
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Sources: Supermicro IR, FY2023 results, 8 Aug 2023 · CNBC, 19 Jan 2024 · Macrotrends, SMCI price history (closing basis, split-adjusted) · CFO Dive, Feb 2025. Price figures are split-adjusted, not dividend-adjusted.
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