## Super Micro Computer's Earnings Announcement Raises Concerns
Super Micro Computer, Inc. (SMCI) shares experienced a significant drop on Friday following the company's announcement regarding its third-quarter earnings release date. Notably, the company did not provide preliminary estimates as it has done in the past, sparking concerns among investors.
This lack of preliminary estimates has led to speculation that SMCI's financial results for the third quarter may be worse than anticipated. This concern is further amplified by the recent weakness in the technology sector and the disappointing earnings reports from other semiconductor companies, such as ASML Holdings N.V. (ASML) and Taiwan Semiconductor Manufacturing Company Ltd. (TSM).
TSM's lowered chip market outlook due to persistent consumer weakness further adds to the uncertainty surrounding SMCI's upcoming earnings release.
Super Micro Computer is scheduled to release its third-quarter financial results after the market closes on April 30th. A conference call to discuss the results will be held at 5:00 p.m. ET on the same day. Analysts' expectations, according to Benzinga Pro, are for earnings of $5.84 per share and quarterly revenue of $4.012 billion.
## Analyst Recommendations and Price Targets for SMCI
Equity research can provide valuable insights into a company's fundamentals. Analysts utilize financial models based on these fundamentals and projected future earnings to determine price targets and recommendations for the stock.
Super Micro Computer shares currently have an average 1-year price target of $991.93, representing a potential upside of 31.63%. However, it's important to note that analyst recommendations and price targets can vary significantly due to differing assumptions and methodologies.
Currently, one analyst has a bearish recommendation on Super Micro Computer, while ten analysts have bullish ratings. The highest price target on the street comes from Loop Capital at $1500, while the lowest comes from Susquehanna at $250.
## SMCI Stock Price Movement
As of Friday's publication time, Super Micro Computer shares were down 18.4% at $757.62, according to Benzinga Pro. This decline reflects the market's uncertainty and concerns surrounding the company's upcoming earnings release.