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Barchart

Sushree Mohanty

Is Super Micro Computer Stock a Buy Now as Delisting Fears Ease?

Super Micro Super Micro Computer SMCI SuperMicro Nasdaq

Super Micro Computer (SMCI), also known as Supermicro, had a roller coaster year in 2024 due to delays in financial reporting. Its auditor, EY, resigned in October 2024, citing issues with internal controls and accounting practices. This departure raised concerns about the company’s financial transparency and governance, resulting in a significant drop in its stock price. However, the company addressed the issues by hiring BDO Global as its new auditor.

On Feb. 25, Super Micro Computer successfully filed its delayed financial statements for fiscal year 2024 and the first two quarters of its fiscal 2025. meeting the deadline set by the Nasdaq Exchange. SMCI stock has risen 33% in the year to date, outpacing the tech-heavy Nasdaq Composite Index ($NASX).

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