Super Micro Computer Stock Sinks on Slashed Q3 Outlook

Super Micro Computer Inc (NASDAQ:SMCI) stock is 16.4% lower to trade at $30.11 at last check, after the company lowered fiscal third-quarter profit and revenue guidance well below analysts' expectations. The software concern noted customers postponed orders for its servers and computing products, delaying up to $1.4 billion in sales. In response, thee firms slashed their price objectives, including J.P. Morgan Securities to $36 from $39. More downward price revisions could be in store, too, as SMCI's 12-mon ...