Super Micro shares close at $27.08 after audit news dating back to 2024 circulates
Key Facts
Super Micro Computer shares closed at $27.08 on November 5, 2026, according to EL7 data, after closing at $29.6 on November 4. But the available facts do not establish that Ernst & Young resigned or that the stock fell 30% on November 6, 2026, the date associated with the circulating report. The auditor change recorded with the U.S. Securities and Exchange Commission dates to October 2024. The company filed a report on the change of auditor on October 30, for a reporting period ending October 24, 2024. The auditor-related development therefore dates to 2024, while available data show two closing prices for the stock in November 2026 without confirming the reported decline.
The market reaction to Ernst & Young’s resignation was sharp when it was announced in October 2024. Reuters reported that the stock fell more than 30% on the day of the announcement, linking investors’ reaction to accounting concerns. The Associated Press reported that the stock ended the session down at $33.07, a decline of $16.05. This came as the company had failed in late August to file its annual report on time, saying it needed to assess its internal controls over financial reporting. In its disclosure, the company said Ernst & Young had raised concerns in late July about governance, transparency and internal controls over financial reporting. These facts describe the context of the 2024 resignation and the market reaction at the time; they do not establish a similar move in November 2026.
Super Micro disputed Ernst & Young’s decision to resign and said it was working to select new auditors. The Associated Press reported that the company did not expect the issues raised to lead to a reissuance of prior quarterly results. On December 2, 2024, the company announced the completion of a review by a special committee and said the committee found no evidence of misconduct by management or the board. The company also said it did not expect to restate its reported financial results. According to the company’s announcement, the committee concluded that Ernst & Young’s resignation and the conclusions in its letter were not supported by the facts examined in the review. The committee’s review process therefore concluded in 2024, according to the company’s filing with the Securities and Exchange Commission.
The company said the committee examined 52 sales transactions between April 1, 2023, and June 30, 2024. It added that the review did not contradict the company’s conclusions on revenue recognition in any quarter during that period. In its 2025 annual report, the company said Nasdaq had granted it an extension on December 6, 2024, to file overdue annual and quarterly reports by February 25, 2025. It said it filed all overdue reports by that date. These dates place the regulatory action and delayed disclosures in a sequence spanning 2024 to February 2025, but in themselves do not explain the stock’s movement in November 2026.
As for the latest results included in the company’s disclosure, Super Micro announced them on November 3, 2026, for the first quarter of its fiscal 2027, ended September 30, 2026. Sales were $19.9 billion, compared with $11.1 billion in the previous quarter and $5.0 billion in the corresponding period of the prior fiscal year. Gross margin was 12.7%, after 17.5% in the fourth quarter of fiscal 2026 and compared with 9.3% a year earlier. Net income was $1.594 billion, compared with $1.178 billion in the previous quarter and $168 million in the first quarter of fiscal 2026. These figures show year-over-year growth in sales and income, alongside a decline in margin compared with the previous quarter; they are the company’s reported results ahead of the recorded stock closes on November 4 and 5.