Super Micro slides after margin, profit forecasts disappoint

Logos of Super Micro Computer are pictured at COMPUTEX Taipei, one of the world's largest computer and technology trade shows, in Taipei, Taiwan May 30, 2023. REUTERS/Ann Wang/ File Photo

(Reuters) - Super Micro Computer shares tumbled 12.3% in premarket trading on Wednesday as concerns over the high cost of producing AI server chips weighing on its profit forecast, eclipsing upbeat sales forecasts.

The company's fourth-quarter adjusted gross margin was 11.3%, compared with analysts' average estimate of 14.1%, according to LSEG data, as Super Micro grappled with higher supply chain costs and a tight inventory of key components.