Core Viewpoint - Supermicro's investigation following the resignation of Ernst & Young found no fraud but highlighted governance issues, leading to the need for a new chief financial officer and a chief accounting officer [1][2]. Group 1: Investigation Findings and Governance Changes - The investigation revealed "lapses" in the rehiring process of nine employees, with the CFO, David Weigand, having primary responsibility for these lapses [2]. - Supermicro appointed Kenneth Cheung as the chief accounting officer shortly after the investigation but has not yet found a replacement for the CFO position [3]. - The prolonged search for a new CFO indicates challenges in attracting qualified candidates due to the company's past accounting issues and the competitive market for finance leaders [4][6]. Group 2: Market Position and Strategic Importance - Supermicro is positioned as a key player in the AI ecosystem, with significant relationships with Nvidia and other major tech companies, aiming for net sales of at least $40 billion this year [9][10]. - The company has expanded its staff significantly to support growth in the AI market, indicating a strong focus on innovation and R&D [8]. - Supermicro's unique offerings, such as its Data Center Building Block Solution and proprietary liquid-cooling technology, enhance its competitive edge in the rapidly evolving tech landscape [9]. Group 3: Challenges in CFO Recruitment - The search for a new CFO is complicated by the need for a candidate with a strong governance track record and strategic relationships, which are critical for the company's future [17][18]. - The market for CFOs is highly competitive, with a preference for experienced candidates, making it difficult for Supermicro to attract top talent [16][19]. - The ambiguity surrounding the CFO search and lack of updates may indicate potential discord within the company's leadership, further complicating recruitment efforts [6][7].

Valued at a market cap of $16.5 billion, CDW Corporation (CDW) is a leading North American IT solutions provider that helps organizations design, procure, implement, and manage technology infrastructure. Headquartered in Vernon Hills, Illinois, the company serves enterprise, small-business, and public-sector customers (government, education, healthcare) across the U.S., U.K., and Canada. Shares of the tech company have lagged behind the broader market over the past 52 weeks. CDW stock has slumped 33.9% o ...

Core Insights - The FPA Queens Road Small Cap Value Fund reported a return of -0.36% in Q4 2025, underperforming the Russell 2000 Value Index which gained 3.26% during the same period. However, for the full year 2025, the Fund achieved a return of 13.36%, slightly outperforming the Index's 12.59% [1] Group 1: Fund Performance - The Fund outperformed in the first half of 2025 amidst weak and volatile markets, but underperformed in the second half as markets favored speculative and low-quality stocks [1] - The portfolio aims to protect clients from market drawdowns by focusing on quality and value [1] Group 2: EPlus Inc. (NASDAQ:PLUS) - EPlus Inc. provides IT solutions to optimize IT environments and supply chain processes, with a one-month return of -7.32% and a 52-week gain of 17.89% [2] - As of February 11, 2026, EPlus Inc. shares closed at $83.91, with a market capitalization of $2.148 billion [2] - The Fund added a new position in EPlus Inc. in Q4 2025, considering it well-managed and inexpensive relative to its growth and quality profile, especially after adjusting for its significant cash holdings [3] Group 3: Hedge Fund Interest - EPlus Inc. was held by 19 hedge fund portfolios at the end of Q3 2025, an increase from 17 in the previous quarter [4] - While EPlus Inc. is recognized for its potential, the company is not among the 30 most popular stocks among hedge funds, with certain AI stocks being viewed as having greater upside potential and less downside risk [4]

Key highlights 2025During 2025, NNIT has made significant strategic progress resulting in an improved operational efficiency, refined go-to-market approach and structurally lowered the cost base. However, the financial performance has been negatively impacted by a challenging macroeconomic environment and geopolitical uncertainty, especially in Europe. Moreover, the US region saw a temporary slowdown in business performance towards the end of the year including rephasing of revenue suppressing growth and pr ...

Core Viewpoint - CDW exceeded fourth-quarter sales and profit expectations, driven by continued client investments in artificial intelligence and cloud adoption [1] Group 1: Financial Performance - CDW reported better-than-expected sales and profit figures for the fourth quarter [1]

Earnings Presentation Q4 2025 Results January 29, 2026 Forward-Looking Statements This presentation and other written or oral statements made from time to time by management contain "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995 and involve certain risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend", "will", "would", "could", "can", "should", "targeting", "projecting", "driving", "future", "plan", "predict", "may" and si ...

Core Viewpoint - Super Micro Computer, Inc. (SMCI) will host its second quarter fiscal 2026 financial results conference call on February 3rd, 2026, at 5:00 p.m. ET / 2:00 p.m. PT, with a webcast available for access [1]. Group 1 - Supermicro is a global leader in Application-Optimized Total IT Solutions, focusing on Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure [2]. - The company designs and manufactures its products in-house in the US, Taiwan, and the Netherlands, optimizing for scale and efficiency while reducing environmental impact [2]. - Supermicro's award-winning portfolio includes Server Building Block Solutions® that allow customers to customize systems based on their specific workloads and applications [2].

Core Viewpoint - Dell Technologies Inc. is being closely monitored by analysts as a promising AI stock, with Barclays upgrading its rating to "Overweight" due to strong AI server momentum, enterprise recovery, and disciplined operating expenses [1]. Group 1: AI Server Business - Dell is experiencing robust strength in AI server orders, with analysts becoming more comfortable with the margin profile of its AI server business despite pressured gross margins [2]. - The company plans to ship an estimated $9.4 billion of AI servers in Q4, raising full-year AI server shipments to $25 billion, with projected growth of 155% and 60% in AI orders for fiscal years 2026 and 2027 [4]. Group 2: Operating Margins and Management - Analysts are encouraged by Dell's ability to maintain mid-single-digit operating margins in the AI server business, despite concerns about dilutive gross margins [3]. - Dell's disciplined operating expense management is highlighted as a positive factor contributing to its outlook [3]. Group 3: Enterprise Server and Storage Market - The enterprise server and storage markets are believed to be recovering, with Dell increasing the mix of its IP offerings in storage [5]. - Dell has a significant opportunity for upgrades in traditional servers, as 70% of its installed base consists of older generation products [5].

Core Viewpoint - Dell Technologies Inc. is recognized as a trending AI stock, with Goldman Sachs initiating coverage with a Buy rating and a price target of $165, driven by AI server strength and data center recovery [1] Group 1: Investment Outlook - Analysts believe Dell is positioned as an AI winner, benefiting from cyclical recovery in its core data center hardware business, which supports potential upside despite challenges in the PC market [1] - Even with cautious assumptions regarding PC demand and profitability, Dell is expected to exceed consensus sales and earnings estimates due to ongoing AI server momentum and recovery in core servers and storage [2] Group 2: Competitive Advantages - Dell's ability to manage commodity cost headwinds more effectively than its peers is attributed to its scale, large direct sales force, and favorable business mix [2] - The company provides a range of IT solutions, including servers, storage, networking, and personal computing devices, catering to both businesses and consumers globally [3]

Core Viewpoint - Super Micro Computer (SMCI) stock has experienced significant volatility, with a current price reflecting a 51% correction from its 52-week high of $66.44, primarily due to a revenue miss in Q1 [1] Financial Performance - For Q1 FY26, SMCI reported revenue of $5 billion and expects full-year revenue of $36 billion [3] - The company has guided for Q2 revenue between $10 billion and $11 billion, which exceeds analyst consensus by over $2 billion [5] Market Sentiment - Despite the bearish sentiment, SMCI stock is considered attractively valued and could be a candidate for a short squeeze in 2026 [2] - SMCI is currently the third-most-shorted stock by hedge funds, indicating strong negative sentiment in the market [1] Operational Insights - SMCI has a strong global presence, operating in over 100 countries, and is pursuing aggressive expansion with new facilities in the U.S., Taiwan, the Netherlands, Malaysia, and the Middle East [3][6] - The company aims to scale production to 6,000 racks per month by the end of fiscal 2026 [6] Recent Stock Performance - Following a significant earnings miss in Q1 and cash used in operations of $918 million, SMCI stock has corrected by 45% over the last six months, presenting a potential accumulation opportunity [4]