Super Micro Computer (SMCI) supply was almost 5% on Wednesday at the start of Wednesday, which extended an increase of a week, so that the shares have fully reclaimed its losses from a destructive report that accused the server maker of accounting violations last summer.
From 09:31:28 am est. Market open.
Super Micro shares achieved more than 16% on Tuesday and reached their highest level since 26 August, the day before short-selling company Hindenburg Research published the report that, in addition to accusations of accounting ‘manipulation’, the company claimed that the company had violated export controls and that are Managers were not properly announced with suppliers.
Super Micro makes computer server products for data centers using NVIDIAs (NVDA) AI chips and has a large deal with the Mammoth Xai Data Center from Elon Musk in Tennessee. The stock is in a tear in 2025, an increase of 83% to date, making it the best performing member of the S&P 500.
The meeting in the past five days was powered last Wednesday by the company update of the company, in which the company granted ambitious long-term goals, which means that investors’ trust in its ability to recover from controversies surrounding the accusations in the Hindenburg report.
The share had fallen in the second half of 2024 in the aftermath of the report, because the server maker was confronted with an investigation by the US Department of Justice and the submission of its quarterly and annual SEC archives, which means it is at risk To delete the Nasdaq. At the end of October, the accountant took out Ernst & Young and said it was “not prepared to be associated with the financial statements drawn up by [Super Micro] management.”
Super Micro has denied the allegations described by the Hindenburg report. The company hired a new accountant and the Servermaker said in December that an independent assessment of its activities did not find proof of misconduct.
Even with his recent Upswing, Super Micro shares remain far below their record closing price of $ 114 last March, just before the server maker was added to the S&P 500.
Super Micro said last week in his business update and preliminary quarterly profits that the company is on schedule to submit its delayed SEC archives before 25 February, the extensive deadline granted by the Nasdaq, because it seems to prevent it from being removed avoided. The company is also looking for a new financial director.
CEO Charles Liang also outlined ambitious goals for the long -term financial performance of the server maker. During a call with investors after the update that the company has the “potential to reach $ 40 billion for the tax year ’26.” Analysts who were followed by Bloomberg had predicted the turnover of 2026 for the $ 30 billion.
