Super Micro Projects Revenue Shortfall on Later Deliveries

Super Micro Computer Inc., which emerged as a favorite stock among artificial intelligence-obsessed investors last year, unexpectedly issued first-quarter guidance on Thursday that fell far short of Wall Street’s expectations.

The server maker is now expecting to report roughly $5 billion in revenue for the first quarter ended Sept. 30, the San Jose, California-based company said, citing order “upgrades” that pushed some sales into the second quarter. Analysts had projected about $6.5 billion.

The company’s shares slid as much as 7.6% in New York. Super Micro said it had recently secured more than $12 billion in additional business ...