: Super Micro stock drops after company warns March-quarter revenue will miss prior forecast

Super Micro Computer Inc. SMCI expects to report fiscal third-quarter revenue below its prior forecast, the company disclosed Monday. Supermicro now expects to report $1.28 billion in revenue for the March quarter, whereas the midpoint of its earlier forecast was $1.47 billion. The shortfall largely relates to key new component shortages tied to the hardware company’s transition to new-generation product lines, though it said that these issues have “mostly been resolved.” Shares of the company were off more than 8% in premarket trading Monday. Supermicro called out a record backlog as it exited the fiscal third quarter. “Supermicro saw record levels of engagements in our new product lines during the quarter,” Chief Executive Charles Liang said in a release. “We secured several large design wins whose orders were impacted by these new supply chain challenges. The challenges are improving as we speak, and we are now well positioned to fulfill delayed deliveries and have commenced production.”

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