Super Micro Computer

03.12.2024

Apple at another record high + Hedge fund sells Nvidia and buys SMC, Palantir and AMD + China and Cyber Monday boost consumer stocks

Apple with another record high

• The shares of Apple $AAPL (-0,01%) shares continued Friday's record high at the start of the new trading week. The shares recently traded 1.4 percent higher at 240.65 US dollars, making them one of the top stocks in the Dow Jones Industrial . This makes the iPhone group the most valuable company in the world with a market capitalization of around
• market capitalization of around 3.6 trillion US dollars, ahead of Nvidia $NVDA (+3,57%) with a
• market capitalization of around 3.4 trillion dollars
• At the close of trading, the share price fell slightly to USD 239.59, which is still an increase of 0.95%.

Largest hedge fund in the world has sold Nvidia & is betting on Super Micro & Palantir

• Bridgewater Associates has sold its position in Nvidia $NVDA (+3,57%) in the third quarter and instead sold more shares of Super Micro Computer $SMCI (+3,47%), Palantir Technologies $PLTR (-3,38%) and Advanced Micro Devices (AMD) $AMD (+0,61%) were purchased.
• The fund announced the share transactions in a form filed with the US Securities and Exchange Commission.
• Bridgewater sold 1.8 million Nvidia shares to end the third quarter with 4.8 million shares of the artificial intelligence chip maker....

https://www.wallstreet-online.de/nachricht/18773922-groesster-hedgefonds-welt-bridgewater-nvidia-aktien-verkauft-wettet-super-micro-palantir

China and Cyber Monday boost consumer stocks

• The main winners were shares of luxury goods manufacturers in Europe such as LVMH $MC (-0,43%) and Hermes $RMS (+0,05%) but also Adidas $ADS (+0,17%)
  in the DAX rose by 3.2 percent.
• They benefited from an upward revision of the China Purchasing Managers' Index in November.
• The market is hoping that higher income from their Chinese customers will also boost their willingness to spend. In addition, the ongoing "Cyber Monday" drove the shares of consumer and household goods manufacturers. Also in demand were Munich Re $MUV2 (+0,53%) with a 2.9 percent premium.

Tuesday, stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks

Thales EUR 0.85

ORANGE 0.30 EUR

Linde USD 1.39

• Quarterly figures / company dates USA / Asia

20:00 AT&T Capital Markets Day

22:05 Salesforce quarterly figures

• Quarterly figures / Company dates Europe

07:00 Swiss Life Investor Day 2024

• Economic data

08:30 CH: Consumer prices Switzerland November FORECAST: n/a previous: -0.1% yoy/+0.6% yoy

15:00 EU: ECB monthly/bimonthly report on APP/PEPP program

16:00 US: Number of job openings, quits and layoffs (Jolts) October Number of job openings PROGNOSIS: n.a. previously: 7.4 million

$SMCI (+3,47%) Hires new CFO and says independent investigation found no evidence of fraud

Super Micro Computer has begun a search for a new chief financial officer based on the recommendations of a special committee formed to investigate the AI server maker's accounting practices, the company announced Monday.

The company said the independent committee's more than three-month review found no evidence of fraud or misconduct by Super Micro's management, sending the company's shares up about 20 percent.

In late July, Super Micro's then auditor, Ernst & Young ( EY), raised concerns about the company's governance, transparency and internal control over financial reporting, prompting the company's board of directors to appoint a special committee.

The committee concluded that EY's statements were not supported by the facts examined in the audit, Super Micro said on Monday, adding that the evidence did not raise material concerns about the integrity of Super Micro's management.

"The audit committee demonstrated appropriate independence and generally exercised proper oversight of matters relating to financial reporting," the committee's findings said.

However, the committee found some failures on the part of the company for which the CFO was responsible, including instances where the company's auditor was not informed in a timely manner about the rehiring of some former employees.

Super Micro stated that it does not expect to restate its previously reported financials. The company reiterated that it will finalize its annual financial report for the year ended June 30.

The company confirmed that it would complete its annual financial report for the year ended June 30, but did not specify a target date for filing.

On the recommendation of the committee, the company appointed Kenneth Cheung, currently vice president of finance and corporate controller at Super Micro, as chief accounting officer.

The company also plans to appoint a Chief Compliance Officer and a General Counsel

Source: reuters.com

Sometimes even a blind hen finds a grain. $SMCI

Jo my stop loss has come into effect and I am out of $SMCI out.

If the situation calms down again, I may go back in.

Let's wait and see what the investigation says.

Have a nice weekend!

$SMCI (+3,47%) continues to "play games". They have terminated their loans as a precaution. Because such financing is only granted subject to conditions, namely to comply with SEC rules and to report on time. This obligation no longer exists... In other words, they are preparing for all eventualities, including a possible delisting. https://wccftech.com/super-micro-computer-smci-terminates-its-loan-agreements-with-cathay-bank-and-the-bank-of-america-eliminating-the-need-to-furnish-its-financial-statements-by-the-end-of-2024-under-the-loan-covenant/

$SMCI (+3,47%) What do you think of this turnaround that the share is currently undergoing? Here's a little research and my opinion:

In the 11/20 report, Super Micro writes: "(...) As previously announced, Super Micro Computer, Inc. (Nasdaq:SMCI) ("SMCI" or the "Company"), a Total IT Solution Provider for AI, Cloud, Storage and 5G/Edge, submitted a compliance plan to Nasdaq on November 18, 2024 with respect to supporting its request for an extension of time to regain compliance with the Nasdaq continued listing requirements. In the compliance plan, the Company indicated that it believes it will be able to file both its Annual Report on Form 10-K for the fiscal year ended June 30, 2024 (the "2024 Form 10-K") and its Quarterly Report on Form 10-Q for the period ended September 30, 2024 (the "Q1 2025 Form 10-Q"), and become current with its periodic filings within the discretionary period available to the Nasdaq staff to grant."

When do they have to submit these reports at the latest?

Nasdaq generally grants companies up to 180 calendar days from the original due date of a report to become compliant again.

1.2024 Form 10-K (Annual Report):

Due date: September 13, 2024 (Annual reports are generally due 75 days after the fiscal year end, in this case June 30).

Last due date according to Nasdaq's 180-day measurement period: March 11, 2025.

2.Q1 2025 Form 10-Q (quarterly report):

Q1 2025, as we are talking about the financial year and not the calendar year. Q1 2025 is in the third quarter of 2024.

Due date: November 14, 2024 (Quarterly reports are due 40 days after the end of the quarter, in this case September 30).

Last deadline according to Nasdaq's 180-day measurement period: May 13, 2025.

My opinion: It will be exciting, but it is impossible to say whether they will manage to comply with the NASDAQ again.

My last post about $SMCI there were justifiably many negative opinions.

I was probably lucky that the delisting was averted. Do you think I should continue to hold or go out with a minimal plus?

My average price is currently €29