Super Micro Computer reported fiscal fourth-quarter results that missed Wall Street expectations and pared back its long-term growth ambitions, sending the fast-rising server maker’s shares tumbling about 15% in after-hours trading. Revenue rose 7.5% from a year earlier to $5.76 billion, below the $6.01 billion analysts had projected, while adjusted earnings fell 24% to $0.41 a share versus the $0.44 consensus. Gross margin narrowed to 9.6%, and net income declined to $195 million. For the full fiscal year ended June, sales jumped 47% to $22 billion as demand for the company’s AI-focused servers remained strong, but management trimmed its ambitions. Super Micro now targets at least $33 billion in revenue for fiscal 2026—still ahead of the Street’s $29.9 billion average estimate but well below the $40 billion goal floated in February. First-quarter guidance of $6 billion to $7 billion in revenue and $0.40 to $0.52 in adjusted EPS also came in under consensus forecasts. Chief Executive Officer Charles Liang told analysts that delayed deliveries of Nvidia processors and capital constraints hampered production in the quarter but said chip availability should improve this year. The weaker print weighed on peers: Dell Technologies’ shares slipped about 3% in pre-market trading. Super Micro’s stock had rallied nearly 90% year-to-date before the results as investors bet on sustained AI-server demand.