While some customers may be waiting to purchase servers until Super Micro’s products come with Nvidia Corp.’s new Blackwell chip, “uncertainty related to tariffs and macroeconomic concerns may also be weighing on near-term demand,” Woo Jin Ho, an analyst at Bloomberg Intelligence, wrote in a note.

The company lowered its forecast for the fiscal year and came up short with its outlook for the current quarter.

The server maker cut its sales outlook for fiscal 2025, citing short-term impacts of heightened economic uncertainty and tariffs that prompted some customers to delay orders of new servers and computer products.