Super Micro Plunges After Preliminary Results Miss Estimates (3)

Super Micro Computer Inc. tumbled Wednesday after giving preliminary results that fell well short of analysts’ estimates, a sign its comeback plan has been slow to gain traction.

Sales were $4.5 billion to $4.6 billion in the fiscal third quarter, the company said in a statement Tuesday. That missed the analyst estimate of $5.35 billion and its own guidance of roughly $5.5 billion. Earnings, excluding some items, came in at 29 cents to 31 cents in the period ended March 31, compared with an estimate of 53 cents.

Super Micro had previously been a favorite of artificial intelligence-obsessed investors, after ...