November 2nd, Guolonhui｜Continuing the decline from yesterday, super micro computer (SMCI.US) trended lower again in the intraday session today, dropping nearly 9% at one point to $26.51, marking a new low for the year. Super Micro Computer previously stated that the auditing firm EY resigned during the audit period. Renowned analyst Ming-Chi Kuo wrote that based on experience, the resignation of the auditing firm is a serious signal, increasing the possibility of the worst-case scenarios such as suspension of trading or delisting for Super Micro Computer. This will indirectly weaken Super Micro's competitiveness, posing a significant challenge to its survival, especially when its competitors are well-funded, resource-rich major manufacturers. Kuo mentioned that although Super Micro's influence in the AI server industry has declined (they are lagging behind Foxconn and Quanta by 3-6 months in mass production of GB200), the company still maintains a solid AI server design and manufacturing capability. If my analysis is correct, there may be significant adjustments in the company's executive team or directors. Further corporate consolidation is also possible, as seen in AMD's acquisition of ZT Systems as a precedent. (Guolonhui)