Super Micro Computer Inc. tumbled Wednesday after giving preliminary results that fell well short of analysts’ estimates, a sign its comeback plan has been slow to gain traction. Sales were $4.5 billion to $4.

Super Micro attributed the weak update to delayed platform decisions by some customers, pushing sales into the fourth quarter. Gross margins also dropped 220 basis points from the

The controversy resulted in Supermicro losing about 80% of its market capitalization during the third and fourth quarters of last year, wiping out many of the stellar gains it enjoyed back in 2023, when it emerged as one of the early winners of the generative AI boom.