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Supermicro Stock Dives as Weak Preliminary Results Raise 'Credibility' Concerns, JPMorgan Says

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Super Micro Computer shares plummeted Wednesday after the server maker published preliminary quarterly results below its prior forecast.

Analysts lowered their price targets for the stock, pointing to uncertainty around the timing of customers' product transitions.

JPMorgan said it doesn't see declining demand for AI servers, but added the downward revision could hurt Supermicro 's credibility.

Shares of Supermicro were down close to 16% at about $30 in recent trading.