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Supermicro (NASDAQ: SMCI) saw its stock plunge nearly 8% on Monday ahead of its crucial financial update on February 25. The AI server maker is expected to file its delayed fiscal year and quarterly reports by this date.
Supermicro has been a hot stock since reporting preliminary Q2 results on February 11. Investors weren’t focused on past earnings but on its bullish 2026 revenue forecast of $40 billion—an ambitious target reflecting up to 70% growth from 2025. CEO Charles Liang even suggested the projection might be “conservative,” citing demand from NVIDIA’s (NASDAQ: NVDA) Blackwell server ramp.
Since the forecast, SMCI shares have surged 34%, partly due to short covering. The stock had been heavily shorted in 2024 following a critical report from Hindenburg Research, which alleged accounting irregularities. The scrutiny intensified when Supermicro’s former auditor resigned over corporate governance concerns.
Despite the volatility, Supermicro’s upcoming earnings report will be crucial. Investors will also watch NVIDIA’s earnings release on February 26, which could further influence SMCI’s trajectory.
