$SUPER MICRO COMPUTER INC(SMCI)$ Think of what is really happening here. On Aug 6, SMCI released their unaudited performance. Now at time of filing, they had to hold off. So what could make them do that - only on thing really, and that would be the refusal of the auditor, E&Y to provide their sign off affirmation letter. So, of course SMCI is going to say we don't expect any material changes, but that's only because E&Y is still doing due dillegence into the cooked books to see how cooked they are. I predict after 2 weeks, E&Y will be fired (or resign) as they will not sign off and a 3rd rate auditor will be selected. Either way, likely additional delay. We know these leaders pushed forward revenue numbers and channel stuffed, E&Y will be digging in deep and backing out those numbers, and pretty confident they are material. We may get a pop tomorrow as people think it might not be that bad, but it's bad.
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