Will Super Micro Computer Soar After Feb. 11?
Super Micro Computer (NASDAQ: SMCI) has delivered both ups and downs to investors over the past year. The maker of servers and workstations has benefited from artificial intelligence (AI) demand as data centers expand and launch upgrades -- and early last year that led to triple-digit revenue growth and outstanding stock performance.
The shares surged 188% in the first half of the year, even beating market giant Nvidia. But questions about the company's financial reporting halted the momentum -- a short-seller's report from Hindenburg Research alleged "glaring accounting red flags." And Supermicro's announcement that it would file its 10-K annual report late added to the worries, sending the shares into a downward spiral.
But brighter days may be ahead for Supermicro. The company recently reported positive news, including findings by a special committee that looked into its reporting practices. The committee found no evidence of misconduct and no need for a restatement of reported financials. And, now, Supermicro has a new catalyst right around the corner, on Feb. 11, when it is scheduled to give a "business update." Will the stock soar after that date? Investing success is about much more than short-term stock moves, but let's gather some clues.
Source Fool.com
