Super Micro Computer May Have Avoided a Major Risk. Is This Beaten-Down Stock a Buy?

Super Micro Computer (NASDAQ: SMCI) started the year with plenty of promise. The stock soared 188% in the first half, even beating market darling Nvidia, thanks to its dominance in the artificial intelligence (AI) equipment market. Investors piled into the stock as the company reported record demand for its data center equipment from AI customers -- and that resulted in triple-digit revenue growth.But troubling news started to pile up a few months ago, halting Supermicro's fantastic momentum -- and the shares plummeted. One major issue was the company's announcement that it would delay the reporting of its 10-K annual report, and this called into question its ability to remain listed on the Nasdaq. To make matters worse, Supermicro's auditor resigned in October, making it impossible for the company to proceed with its financial filings.Positive news arrived this week, though, sending the shares soaring and igniting investors' hopes for an exciting recovery story. Supermicro said it's hired independent auditor BDO U.S.A. and has submitted a compliance plan to the Nasdaq. With these moves, Supermicro may have avoided a major risk -- delisting from the Nasdaq. Does the news make this beaten-down stock a buy? Let's find out.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool