Super Micro said the committee did not provide any additional details or information beyond the statement.

Additionally, the company said it is working “diligently on matters related to Form 10-K (Securities and Exchange Commission),” the annual report due to be made public Aug. 29, “but remains unable at this time to predict when the form will be published. 10-K will be filed.”

On September 20, Nasdaq gave Super Micro a 60-day deadline to either file Form 10-K or submit a plan to Nasdaq to restore compliance with the index’s listing rules.

Super Micro said it intends to “take all necessary steps to comply with Nasdaq’s continued listing requirements as soon as possible.”

The company also provided first-quarter guidance that fell short of Wall Street expectations.

Analysts across town have slashed their price targets and lowered their ratings for Super Micro stock.

On November 6, Citi analyst Asiya Merchant suggested that Dell and, to a lesser extent, HP Enterprise (HPE) “Will likely benefit from improved AI order dynamics and competitive intensity in coming quarters, given Super Micro’s woes,” according to The Fly.

The analyst noted that Super Micro provided a business update that fell short of estimates, attributing the shortfall to an air pocket in demand as its customers wait for Nvidia’s next-generation Blackwell chips, which are in award price.

More AI actions:

Dell shares have gained the upper hand against Super Micro’s downtown train.

The company’s shares are up about 79% year to date and 85.3% over the last year.

The computer hardware and peripherals provider, which celebrated its 40th anniversary this year, is expected to report results on November 26.

“Our AI momentum accelerated in the second quarter and our results and outlook demonstrate that we are uniquely positioned to help our customers realize the benefits of artificial intelligence,” said Jeffrey Clarke, Director of the company’s operations, to analysts during the press conference. call for results in August.

In September, Dell announced its return to the S&P 500. The Round Rock, Texas, company was previously on the benchmark index before going private in 2013.

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Will Dell see a huge benefit from Super Micro’s angst?

Analysts at Morgan Stanley don’t really see it that way.

The firm, which raised its price target on Dell Technologies from $136 to $154 and confirmed an overweight on the stock, said momentum in AI servers “remains strong.”

Morgan Stanley noted that the company’s recent checks point to about $20 billion in AI server revenue in fiscal 2026, 56% higher than its previous forecast.

The investment firm now estimates that Dell will post $110 billion in revenue and $10.50 in earnings per share in fiscal 2026.

Those numbers, 5% and 12% above Wall Street consensus estimates, respectively, “do not explicitly imply gains in SMCI stock,” Morgan Stanley said.

In a $40 billion AI server “bull case” for fiscal 2026, the company assumes Dell takes a third of Super Micro Systems’ business through competitive wins.

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