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Shares of Super Micro Computer (SMCI, Financial), one of the nation's leading AI server producers, were up 1.5% in premarket trading Friday to $33 after a 5.2% drop in the three days through Thursday. These fluctuations aside, the stock is up 8% over the past five days.
No evidence of fraud has been found, but the company has come under pressure for delayed financial filings stemming from an internal review of its reporting controls. The key to restoring investor confidence is that Super Micro has to produce its accounts by February 25. The price targets range from $15 to $60, and analysts remain divided.
Results from the stock underscore a battle between investor enthusiasm and concerns over unresolved accounting issues. The AI boom has supported its valuation, as its shares have staggered between extremes, swinging between $100 in the spring and $20 recently.
Investors will be closely monitoring supermicro's next steps to clarify its financial health and AI market prospects.
This article first appeared on GuruFocus.