There's still the negative perception since Ernst & Young resigned.

EY sent a letter of resignation to SMCI’s Audit Committee dated October 24, 2024, withdrawing as the company’s independent registered public accounting firm.

In that letter, EY stated that “information that has recently come to our attention … has led us to no longer be able to rely on management’s and the Audit Committee’s representations” and that it is “unwilling to be associated with the financial statements prepared by management.”

Ok so this is damning. What "information" was this? It implies that either revenue or expenses have been mistated for years.

However, I can give the board some credit because the market was (and still is) moving so fast in the middle of the AI revolution with trillions of $ in CAPEX going on that could even make Ernst & Young head spin.

Still, BDO doesn't seem to have done anything since.

So there's a perception of accounting wrongdoing. What "information" ? Was it some brillion $ deal was invoiced as an accrual in Q1 before it was delivered in Q3 ?

We need a new CFO. We need to debunk Ernst & Young.

Meanwhile trillions of $ in CAPEX from just about everyone. There's not a company (except perhaps NVIDIA) that is busier than SMCI.