Super Micro Computer Shares Plunge After Earnings Miss, Auditor Resignation, and Downgrade

Super Micro Computer Inc. (SMCI) shares are plummeting on Wednesday after the company reported weaker-than-expected preliminary financial results, a business update regarding the resignation of its auditor, Ernst & Young (EY), and a downgrade from JPMorgan. The company’s revenue and earnings projections for the first and second quarters fell short of previous estimates, and it remains unclear when it will file its annual report.

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