Super Micro Stock Tumbles on Big Earnings Miss
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Super Micro Computer reported disappointing preliminary results for its fiscal third quarter, expecting revenue between $4.5 billion and $4.6 billion, significantly below the $5.4 billion consensus estimate. Adjusted earnings per share are projected at 29 to 31 cents, compared to the 53 cents expected by analysts. Following this announcement, Super Micro's stock dropped as much as 17%.
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