Cerebras CEO says margin forecast was 'misunderstood' as stock plummets after earnings
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- Analysts at Mizuho and Wedbush raised their estimates following Cerebras' earnings call.
- "It is misunderstood," Feldman said on CNBC's Squawk on the Street.
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Cerebras Systems CEO Andrew Feldman said Wednesday that investors "misunderstood" the artificial intelligence chipmaker's margin guidance, as shares slid 17% after the company reported results for the first time since going public.
Analysts at Mizuho and Wedbush raised their estimates following Cerebras' earnings call. But the company forecasted a narrower gross margin in its core business, excluding impact from customer warrants and data center pass-through revenues. The number was 47% for the first quarter, and it should be between 38% and 41% for the full year.