What: Shares of Super Micro Computer (NASDAQ:SMCI) were down almost 14% as of 12:30 p.m. Friday after the high-performance, high-efficiency server and storage technology company announced preliminary fiscal-first-quarter 2016 results.

So what: Super Micro Computer isn't set to officially release quarterly results until Oct. 22, but when it does, the company now expects to report revenue for the quarter in the range of $529 million to $530 million, near the low end of its previous guidance of $520 million to $580 million. In addition, Super Micro Computer anticipates operating expenses to be around $2 million to $3 million higher than last quarter, thanks to a combination of higher compensation expenses and headcount increases in support of new technologies, as well as higher expenses related to its review of "certain marketing expenses."

Consequently, Super Micro expects quarterly adjusted earnings per share to be $0.44 to $0.45, compared to its previous guidance for $0.49 to $0.59.

Analysts, on average, were anticipating higher quarterly revenue of $542.7 million, and adjusted earnings of $0.53 per share.

"Stronger seasonal effects combined with weaker Europe and Asia activity, and customer push outs led to our revenue being at the lower end of our guidance," explained Super Micro Computer CEO Charles Liang. "The pattern of seasonally weak September and March quarters as compared to stronger June and December quarters continues."

Now what: Given this disappointing update, it's hard to blame investors for aggressively bidding shares of Super Micro Computer down today.

But investors should also keep in mind Super Micro is maintaining its full-year expectations for revenue growth. And given its growth prospects in storage, cloud computing, high-performance computing, and enterprise, Liang further believes his company "will continue to gain market share and grow multiple times the industry growth rate..."

If that indeed turns out to be the case -- and with Super Micro Computer stock now trading at a mouthwatering 9.9 times next year's expected earnings -- today's pullback could prove to be a great opportunity for long-term investors to step in.

Steve Symington has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.