Super Micro shares tumble after federal smuggling probe, then recover in after‑hours trading
Super Micro Computer saw its stock plunge up to 12% during the session after a Manhattan federal investigation was reported into possible smuggling of its servers to China by groups linked to Alice Huang. The company responded that Megaspeed has never been a customer and said it is cooperating with U.S., Taiwanese and Singaporean authorities. After the denial, the shares rebounded about 1.7% in after‑hours trading. The firm also highlighted its strong fiscal Q1 results and a revenue outlook that exceeds analysts’ estimates.
Why it matters
The company projects current‑quarter revenue of $19.5 billion to $21.5 billion, above the $17.51 billion consensus, which could support the price if the probe does not hinder shipments. However, analysts note that any clarification of the investigation’s scope could affect future sales and margins.
Key facts
- 1The stock fell as much as 12% during the regular session. blockonomi.com
- 2It rose roughly 1.7% in after‑hours trading. finance.yahoo.com
- 3Super Micro stated that Megaspeed has never been a customer. tipranks.com
- 4Fiscal first‑quarter revenue was reported at $19.95 billion, nearly four times year‑over‑year. tipranks.com
- 5Fiscal first‑quarter earnings per share were $1.81. tipranks.com
- 6Adjusted gross margin for the quarter was 12.8%. finance.yahoo.com
Open questions
- Fiscal Q1 revenue is given as $19.95 billion in material 1 and about $19.9 billion in material 2, a slight discrepancy on the same basis.
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.