Why Dell Stock Is Surging Today
Dell Technologies (NYSE: DELL) stock is making big gains in Wednesday's trading. The company's share price was up 7.7% as of 2:15 p.m. ET and had been up as much as 10.1% earlier in the daily session.
Dell stock is soaring today following news that Super Micro Computer's (NASDAQ: SMCI) financial auditor has resigned. Both companies are leading players in the artificial intelligence (AI) server market, and challenges for Supermicro could create opportunities for Dell. Supermicro's share price was down 32.3% at the time of this article's filing.
Super Micro Computer submitted a filing to the Securities and Exchange Commission (SEC) today that revealed that Ernst & Young had resigned as the company's financial auditor. In the resignation letter that Ernst & Young submitted to Supermicro, the accounting firm said that it would no longer serve as the server specialist's auditor due to "information that has recently come to our attention which has led us to no longer be able to rely on management's and the audit committee's representations."
Source Fool.com
