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Super Micro to File Delayed Annual Report by February Deadline, Shares Rise

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Super Micro Computer (SMCI.O) announced on Tuesday that it expects to file its delayed annual and quarterly reports with the U.S. Securities and Exchange Commission (SEC) by the February 25 deadline, leading to an 8% surge in its shares after hours. The server maker had previously missed the deadline for its 10-K report after receiving subpoenas from the U.S. Department of Justice and the SEC, following short-seller Hindenburg Research’s allegations of “accounting manipulation” in August. Super Micro confirmed that it is cooperating with the authorities’ requests for documents.

The company, based in San Jose, California, also reduced its revenue forecast for fiscal 2025 due to delays in the availability of Nvidia’s (NVDA.O) Blackwell processors, a key component for its AI server systems. While the delay in filing the report was a “distraction,” Super Micro’s financial chief, David Weigand, explained that the primary issue was the delay in technology availability. Despite the challenges, Super Micro announced the full production availability of its AI server systems powered by Nvidia’s Blackwell chips last week.

Super Micro, a beneficiary of the growing demand for advanced data center infrastructure to support generative AI, now faces increasing competition from rivals like Dell (DELL.N) and HP Enterprise (HPE.N). The company has revised its fiscal 2025 net sales forecast to a range of $23.5 billion to $25 billion, down from its previous projection of $26 billion to $30 billion. The midpoint of this forecast, $24.25 billion, falls below analysts’ expectation of $24.92 billion.

For the third quarter, Super Micro is projecting net sales of $5 billion to $6 billion, lower than analysts’ estimate of $6.09 billion. In December, the company was removed from the Nasdaq-100 Index after missing its initial deadline for filing the 10-K report, though it received an extension until February 25.

Infineon Stock Surges 11% on Strong Guidance and Auto Sector Demand

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Infineon shares soared 11% after the German semiconductor company raised its full-year revenue outlook and posted quarterly results that exceeded expectations. The positive guidance sets Infineon apart from other chipmakers in the automotive and industrial sectors, many of which have fallen short of forecasts.

At 08:15 GMT, Infineon stock was leading the German blue-chip index (.GDAXI) and was on pace for its best performance since May. Analysts welcomed the news, with Juergen Wagner from Stifel noting that Infineon’s outlook contrasts with the more disappointing results seen across the sector.

Charter Equity Research analyst Jack Egan highlighted that the company’s forecast for flat-to-slightly higher automotive revenue in fiscal year 2025 alleviates concerns about weakening demand in the sector. Additionally, Infineon’s Power & Sensor segment is expected to show significant growth, likely driven by demand for its artificial intelligence (AI) server products.

CEO Jochen Hanebeck acknowledged that demand recovery would be gradual, following an expected reduction in inventory. However, the company remains optimistic about its performance over the fiscal year, which runs through September.

For the second quarter, Infineon projected revenue of €3.6 billion ($3.7 billion), surpassing the company-provided analyst consensus of €3.42 billion.

 

Taiwan’s Compal and Inventec Explore U.S. Expansion in Response to Trump Tariffs

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Taiwanese electronics manufacturers Compal and Inventec are considering expanding their operations into the United States, with Texas emerging as a potential hub. The move comes in response to President-elect Donald Trump’s threats to impose significant tariffs on global imports, including a potential 25% tariff on Mexican goods, which has raised concerns among Taiwanese companies reliant on North American markets.

Key Points of the Expansion:

  • U.S. Expansion Strategy: Both Compal and Inventec are evaluating the U.S. as a location for investment, with Texas being a prime candidate due to its power infrastructure, proximity to Mexico, and business-friendly environment.
  • Impact of Tariffs: Trump’s proposed 10% tariffs on global imports, along with a 25% tariff on Mexican goods, have prompted Taiwanese firms to consider relocating or diversifying their production to mitigate cost increases and potential trade disruptions.
  • Compal’s Considerations: Compal’s CEO, Anthony Peter Bonadero, mentioned that Texas is a strong contender due to the state’s growing infrastructure, including Samsung’s investment in the area and its unique power grid system.
  • Inventec’s Response: Inventec, which manufactures AI servers using Nvidia chips, is also evaluating U.S. locations, particularly Texas, in anticipation of potential tariff changes. The company is awaiting clarity on the specific decisions Trump will make once in office.
  • Broader Trend Among Taiwanese Companies: Other Taiwanese companies like Wistron have already begun shifting production outside China to countries like Mexico, Vietnam, and the U.S. to safeguard their supply chains against tariffs and trade uncertainty.